<SEC-DOCUMENT>0001193125-15-146764.txt : 20150424
<SEC-HEADER>0001193125-15-146764.hdr.sgml : 20150424
<ACCEPTANCE-DATETIME>20150424163132
ACCESSION NUMBER:		0001193125-15-146764
CONFORMED SUBMISSION TYPE:	20-F
PUBLIC DOCUMENT COUNT:		33
CONFORMED PERIOD OF REPORT:	20141231
FILED AS OF DATE:		20150424
DATE AS OF CHANGE:		20150424

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Constellium N.V.
		CENTRAL INDEX KEY:			0001563411
		STANDARD INDUSTRIAL CLASSIFICATION:	SECONDARY SMELTING & REFINING OF NONFERROUS METALS [3341]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		20-F
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35931
		FILM NUMBER:		15792197

	BUSINESS ADDRESS:	
		STREET 1:		TUPOLEVLAAN 41-61
		CITY:			SCHIPHOL-RIJK
		STATE:			P7
		ZIP:			1119NW
		BUSINESS PHONE:		31-20-654-97-80

	MAIL ADDRESS:	
		STREET 1:		TUPOLEVLAAN 41-61
		CITY:			SCHIPHOL-RIJK
		STATE:			P7
		ZIP:			1119NW

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Constellium Holdco B.V.
		DATE OF NAME CHANGE:	20121130
</SEC-HEADER>
<DOCUMENT>
<TYPE>20-F
<SEQUENCE>1
<FILENAME>d908770d20f.htm
<DESCRIPTION>FORM 20-F
<TEXT>
<HTML><HEAD>
<TITLE>Form 20-F</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 20-F
</B></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"></TD></TR></TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="95%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g)&nbsp;OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR</B></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the fiscal year ended December&nbsp;31, 2014</B></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR</B></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></P>
<P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OR</B></P> <P STYLE="font-size:3pt; margin-top:0pt; margin-bottom:1pt" align="left">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR>
</TABLE> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number 001-35931 </B></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>Constellium N.V. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(Exact
Name of Registrant as Specified in its Charter) </B></P> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>Constellium N.V. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of Registrant&#146;s name into English) </B></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>The Netherlands </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(Jurisdiction of incorporation or organization) </B></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Tupolevlaan
41-61, </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>1119 NW Schiphol-Rijk </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>The Netherlands </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address
of principal executive offices) </B></P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Securities registered or to be registered pursuant to Section&nbsp;12(b) of the Act. </B></P>
<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:60.10pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of each class</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:148.80pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Name of each exchange on which registered</B></P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top" ALIGN="center"><B>Ordinary Shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>New York Stock Exchange</B></TD></TR>
</TABLE> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Securities registered or to be registered pursuant to Section&nbsp;12(g) of the Act: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>None </B></P> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Securities for which
there is a reporting obligation pursuant to Section&nbsp;15(d) of the Act: </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>None </B></P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Indicate the number of outstanding shares of each of the issuer&#146;s classes of capital or common stock as of the period covered by the annual report: </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">104,918,946 Class&nbsp;A Ordinary Shares, Nominal Value &#128;0.02&nbsp;per share </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">108,109 Class B Ordinary Shares, Nominal Value &#128;0.02&nbsp;per share </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> No </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">If this report is an annual or transition
report, indicate by check mark if the registrant is not required to file reports pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934.&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Yes&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> No </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Note&#151;Checking the box above will not relieve any registrant required to file reports pursuant to
Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 from their obligations under those Sections. </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Indicate by check mark whether the registrant
(1)&nbsp;has filed all reports required to be filed by Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and
(2)&nbsp;has been subject to such filing requirements for the past 90&nbsp;days.&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> No </P>
<P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to
be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).&nbsp;&nbsp;<FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Yes&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> No </P> <P STYLE="margin-top:2pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Indicate by check mark whether the
registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of &#147;accelerated filer and large accelerated filer&#148; in Rule 12b-2 of the Exchange Act. (Check one): </P>
<P STYLE="font-size:2pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="63%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="17%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Times New Roman">Large&nbsp;accelerated&nbsp;filer&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Accelerated filer&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right">Non-accelerated&nbsp;filer&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this
filing: </P> <P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="11%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Times New Roman">U.S. GAAP&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Times New Roman">International&nbsp;Financial&nbsp;Reporting&nbsp;Standards&nbsp;as&nbsp;issued&nbsp;by&nbsp;the&nbsp;International&nbsp;
Accounting&nbsp;Standards</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:8pt; font-family:Times New Roman">Board&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">Other&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">If &#147;Other&#148; has been checked in response to the previous question, indicate by check mark which financial statement
item the registrant has elected to follow: Item&nbsp;17&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;Item&nbsp;18&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> </P>
<P STYLE="margin-top:3pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman">If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange
Act).&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;Yes&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#120;</FONT>&nbsp;&nbsp;No </P>
<P STYLE="font-size:8pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="95%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><U>Page</U></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_1">Special Note About Forward-Looking Statements</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A HREF="#rom908770_2">PART I</A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_3">Item 1. Identity of Directors, Senior Management and Advisers</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_4">Item 2. Offer Statistics and Expected Timetable</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_5">Item 3. Key Information</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_6">Item 4. Information on the Company</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_7">Item 4A. Unresolved Staff Comments</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_8">Item 5. Operating and Financial Review and Prospects</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_9">Item 6. Directors, Senior Management and Employees</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_10">Item 7. Major Shareholders and Related Party Transactions</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_11">Item 8. Financial Information</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_12">Item 9. The Offer and Listing</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_13">Item 10. Additional Information</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_14">Item 11. Quantitative and Qualitative Disclosures About Market Risk</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_15">Item 12. Description of Securities Other than Equity Securities</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A HREF="#rom908770_16">PART II</A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_17">Item 13. Defaults, Dividend Arrearages and Delinquencies</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">123</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_18">Item 14. Material Modifications to the Rights of Security Holders and Use of Proceeds</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_19">Item 15. Controls and Procedures</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_20">Item 16A. Audit Committee Financial Expert</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_21">Item 16B. Code of Ethics</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_22">Item 16C. Principal Accountant Fees and Services</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">125</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_23">Item 16D. Exemptions from the Listing Standards for Audit Committees</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_24">Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_25">Item 16F. Change in Registrant&#146;s Certifying Accountant</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_26">Item 16G. Corporate Governance</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_27">Item 16H. Mine Safety Disclosure</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A HREF="#rom908770_28">PART III</A></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_29">Item 17. Financial Statements</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_30">Item 18. Financial Statements</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#rom908770_31">Item 19. Exhibits</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"><A HREF="#rom908770_32">Signatures</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">135</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"><A HREF="#rom908770_33">Index to Consolidated Financial Statements</A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_1"></A>SPECIAL NOTE ABOUT FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This annual report on Form 20-F contains &#147;forward-looking statements&#148; with respect to our business, results of operations and
financial condition, and our expectations or beliefs concerning future events and conditions. You can identify certain forward-looking statements because they contain words such as, but not limited to, &#147;believes,&#148; &#147;expects,&#148;
&#147;may,&#148; &#147;should,&#148; &#147;approximately,&#148; &#147;anticipates,&#148; &#147;estimates,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;targets,&#148; &#147;likely,&#148; &#147;will,&#148; &#147;would,&#148; &#147;could&#148;
and similar expressions (or the negative of these terminologies or expressions). All forward-looking statements involve risks and uncertainties. Many risks and uncertainties are inherent in our industry and markets. Others are more specific to our
business and operations. The occurrence of the events described and the achievement of the expected results depend on many events, some or all of which are not predictable or within our control. Actual results may differ materially from the
forward-looking statements contained in this annual report on Form 20-F. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Important factors that could cause actual results to differ
materially from those expressed or implied by the forward-looking statements are disclosed under &#147;Item 3. Key Information&#150;D. Risk Factors&#148; and elsewhere in this annual report on Form 20-F, including, without limitation, in conjunction
with the forward-looking statements included in this annual report on Form 20-F and including with respect to our estimated and projected earnings, income, equity, assets, ratios and other estimated financial results. All forward-looking statements
in this annual report on Form 20-F and subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the cautionary statements. Some of the factors that we
believe could materially affect our results include: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our ability to implement our business strategy, including our productivity and cost reduction initiatives; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">competition and consolidation in the industries in which we operate; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our susceptibility to cyclical fluctuations in the metals industry, our end-markets and our customers&#146; industries, and changes in general economic conditions; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the highly competitive nature of the metals industry and the risk that aluminium will become less competitive compared to alternative materials; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">adverse conditions and disruptions in regional and global economies, including Europe and North America; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">risk associated with our global operations, including natural disasters and currency fluctuations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">unplanned business interruptions and equipment failure; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the risk associated with being dependent on a limited number of suppliers for a substantial portion of our primary and scrap aluminium; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our ability to maintain and continuously improve our information technology and operational systems and financial reporting and internal controls; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our ability to manage our labor costs and labor relations and attract and retain qualified employees; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">losses or increased funding and expenses related to our pensions, other post-employment benefits and other long-term employee benefits plans; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the risk that regulation and litigation pose to our business, including our ability to maintain required licenses and regulatory approvals and comply with applicable laws and regulations, and the effects of potential
changes in governmental regulations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">changes in our effective income tax rate or accounting standards; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">costs or liabilities associated with environmental, health and safety matters; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our increased levels of indebtedness as a result of the Wise Acquisition (as defined below), which could limit our operating flexibility and opportunities; </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our ability to achieve expected synergies from the Wise Acquisition and the timing thereof; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the risk that the businesses of Constellium and Wise will not be integrated successfully or such integration may be more difficult, time-consuming or costly than expected; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our exposure to unknown or unanticipated costs or liabilities, including those related to environmental matters, in connection with the Wise Acquisition; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the potential failure to retain key employees as a result of the proposed Wise Acquisition or during the integration of the business, the loss of customers, suppliers and other business relationships as a result of the
Wise Acquisition; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">disruptions to business operations resulting from the proposed Wise Acquisition; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">slower or lower than expected growth in North America for Body-in-White (&#147;BiW&#148;) aluminium rolled products; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="9%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the other factors presented under &#147;Item 3. Key Information&#150;D. Risk Factors.&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We caution you that the foregoing list may not contain all of the factors that are important to you. In addition, in light of these risks and
uncertainties, the matters referred to in the forward-looking statements contained in this annual report on Form 20-F may not in fact occur. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new
information, future events or otherwise, except as required by law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-2- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_2"></A>PART I </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_3"></A>Item&nbsp;1. Identity of Directors, Senior Management and Advisers </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_4">
</A>Item&nbsp;2. Offer Statistics and Expected Timetable </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_5"></A>Item&nbsp;3. Key Information </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>A. Selected Financial Data </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following
tables set forth our selected historical financial and operating data. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On January&nbsp;4, 2011, Omega Holdco B.V., which later changed
its name to Constellium Holdco B.V., and then again to Constellium N.V. (&#147;Constellium&#148; or the &#147;Successor&#148;) acquired the Alcan Engineered Aluminum Products business unit (the &#147;AEP Business&#148; or the
&#147;Predecessor&#148;) from affiliates of Rio Tinto, a leading international mining group (the &#147;Acquisition&#148;). For comparison purposes, our results of operations for the years ended December&nbsp;31, 2011, 2012, 2013 and 2014 are
presented alongside the results of operations of the Predecessor for the year ended December&nbsp;31, 2010. However, our Successor and Predecessor periods are not directly comparable due to the impact of the application of purchase accounting and
the preparation of the Predecessor accounts on a carve-out basis. The financial position, results of operations and cash flows of the Predecessor do not necessarily reflect what our financial position or results of operations would have been if we
had been operated as a standalone entity during the periods covered by the Predecessor financial statements and are not indicative of our future results of operations and financial position. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The selected historical financial information of the Predecessor as of and for the year ended December&nbsp;31, 2010 has been prepared to
present the assets, liabilities, revenues and expenses of the combined AEP Business on a standalone basis up to the date of divestment from Rio Tinto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The selected historical financial information as of and for the years ended December&nbsp;31, 2012, 2013 and 2014 has been derived from our
audited consolidated financial statements included elsewhere in this Annual Report. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The audited consolidated financial statements
included elsewhere in this Annual Report have been prepared in accordance with the International Financial Reporting Standards (&#147;IFRS&#148;), as issued by the International Accounting Standards Board (the &#147;IASB&#148;), and as endorsed by
the European Union (&#147;EU&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The selected historical financial information as of and for the year ended December&nbsp;31, 2011
and 2010 has been derived from our unaudited accounting records and the unaudited accounting records of our Predecessor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Effective
January&nbsp;1, 2013, we have adopted IAS 19 &#147;Employee Benefits&#148; (revised) (IAS 19) in our audited consolidated financial statements as of and for the year ended December&nbsp;31, 2013 and in accordance with transition rules in IAS 19 we
have retrospectively applied this standard to the two years ending December&nbsp;31, 2012 and 2011. We have not restated our audited combined financial statements for the year ended December&nbsp;31, 2010 as the impact of this revised standard is
not material to our results of operations and financial position. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">References to &#147;tons&#148; throughout this Annual Report are to
metrics tons. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-3- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">References to the Wise Acquisition refer to our January&nbsp;5, 2015 acquisition of Wise Metals
Intermediate Holdings LLC and its subsidiaries, which companies we refer to collectively as &#147;Wise.&#148; The transaction is therefore not included in the Group&#146;s consolidated financial statements as of December&nbsp;31, 2014. The
discussion in this report relates to a period prior to our acquisition of Wise and, except as otherwise noted, does not give effect to such acquisition. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Successor as of and for the year ended <BR>December&nbsp;31, </B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Predecessor&nbsp;as<BR>of and for the<BR>year&nbsp;ended<BR>December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP><B>(&#128; in millions other than per share and per ton data)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2011&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2010&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Statement of income data:</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Revenue</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,666</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,495</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,610</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,556</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,957</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Gross profit</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">483</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">471</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">474</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">317</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">242</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Income from operations</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">150</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">209</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">263</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(63</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(248</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Net income/(loss) for the period&#151;continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">149</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(170</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(209</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Net income/(loss) for the period</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(178</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(207</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Earnings/(loss) per share&#151;basic</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2.00</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Earnings/(loss) per share&#151;diluted</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2.00</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Earnings/(loss) per share&#151;basic&#151;continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1.91</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Earnings/(loss) per share&#151;diluted&#151;continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1.91</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Weighted average number of shares outstanding</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105,326,872</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98,890,945</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89,442,416</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89,338,433</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Dividends per ordinary share (euro)<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Balance sheet data:</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Total assets</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,012</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,764</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,631</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,612</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,837</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Net liabilities or total invested equity</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(113</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">199</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Share capital</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman"><B>Other operational and financial data (unaudited):</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Net trade working capital<SUP STYLE="font-size:85%; vertical-align:top">(2)</SUP></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">204</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">289</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">381</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">519</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Capital expenditure</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">199</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Volumes (in kt)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,062</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,025</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,033</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,058</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">972</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:9pt; font-family:Times New Roman">Revenue per ton (&#128; per ton)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,452</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,410</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,495</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,362</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" STYLE="BORDER-LEFT:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,042</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Prior to our initial public offering in May 2013 (the &#147;IPO&#148;), we paid certain dividends to holders of our ordinary shares, as well as to holders of our preferred shares, as is further described in &#147;Item
4. Information on the Company&#150;A. History and Development of the Company.&#148; </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Net trade working capital represents total inventories plus trade receivables less trade payables. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>B.
Capitalization and Indebtedness </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>C. Reasons for the Offer and Use of Proceeds </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>D. Risk Factors </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Risks Related to Our Business </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>If we fail to
implement our business strategy, including our productivity and cost reduction initiatives, our financial condition and results of operations could be materially adversely affected. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our future financial performance and success depend in large part on our ability to successfully implement our business strategy, including
investing in high-return opportunities in our core markets, focusing on higher-</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-4- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
margin, technologically advanced products, differentiating our products, expanding our strategic relationships with customers in selected international regions, fixed-cost containment and cash
management, and executing on our Lean manufacturing program, which is described in &#147;Item 4. Information on the Company&#150;B. Business Overview.&#148; We cannot assure you that we will be able to successfully implement our business strategy or
be able to continue improving our operating results. For example, we announced the intention to create a joint venture in the United States to serve the growing demand for BiW in North America. Any inability to create or execute on our strategy with
respect to the joint venture may adversely affect our operations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Implementation of our business strategy could be affected by a number
of factors beyond our control, such as increased competition, legal and regulatory developments, general economic conditions (including slower or lower than expected growth in North America for BiW aluminium rolled products), or an increase in
operating costs. Any failure to successfully implement our business strategy could adversely affect our financial condition and results of operations. In addition, we may decide to alter or discontinue certain aspects of our business strategy at any
time. Although we have undertaken and expect to continue to undertake productivity and cost reduction initiatives to improve performance, such as the Lean manufacturing program, we cannot assure you that all of these initiatives will be completed or
that any estimated cost savings from such activities will be fully realized. Even when we are able to generate new efficiencies in the short- to medium-term, we may not be able to continue to reduce costs and increase productivity over the long
term. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Aluminium may become less competitive with alternative materials, which could reduce our share of industry sales, lower our
selling prices and reduce our sales volumes. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our fabricated aluminium products compete with products made from other
materials&#151;such as steel, glass, plastics and composites&#151;for various applications. Higher aluminium prices relative to substitute materials tend to make aluminium products less competitive with these alternative materials. Environmental and
other regulations may also increase our costs and may be passed on to our customers, and may restrict the use of chemicals needed to produce aluminium products. These regulations may make our products less competitive as compared to materials that
are subject to fewer regulations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Customers in our end-markets, including the aerospace, automotive and can sectors, use and continue to
evaluate the further use of alternative materials to aluminium in order to reduce the weight and increase the efficiency of their products. Although trends in &#147;light-weighting&#148; have generally increased rates of using aluminium as a
substitution of other materials, the willingness of customers to accept substitutions for aluminium, or the ability of large customers to exert leverage in the marketplace to reduce the pricing for fabricated aluminium products, could adversely
affect the demand for our products, and thus materially adversely affect our financial position, results of operations and cash flows. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The cyclical and seasonal nature of the metals industry, our end-use markets and our customers&#146; industries could negatively affect
our financial condition and results of operations. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The metals industry is generally cyclical in nature, and these cyclical
fluctuations tend to directly correlate with changes in general and local economic conditions. These conditions include the level of economic growth, financing availability, the availability of affordable energy sources, employment levels, interest
rates, consumer confidence and housing demand. Historically, in periods of recession or periods of minimal economic growth, metals companies have often tended to underperform other sectors. In addition, economic downturns in regional and global
economies, including in Europe, or a prolonged recession in our principal industry segments, have had a negative impact on our operations in the past and could have a negative impact on our future financial condition or results of operations.
Although we continue to seek to diversify our business on a geographic and end-market basis, we cannot assure you that diversification would mitigate the effect of cyclical downturns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are particularly sensitive to cycles in the aerospace, defense, automotive, other transportation, building and construction and general
engineering end-markets, which are highly cyclical. During recessions or periods of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-5- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
low growth, these industries typically experience major cutbacks in production, resulting in decreased demand for aluminium products. This leads to significant fluctuations in demand and pricing
for our products and services. Because our operations are capital intensive and we generally have high fixed costs and may not be able to reduce costs and production capacity on a sufficiently rapid basis, our near-term profitability may be
significantly affected by decreased processing volumes. Accordingly, reduced demand and pricing pressures may significantly reduce our profitability and materially adversely affect our financial condition, results of operations and cash flows. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In particular, we derive a significant portion of our revenues from products sold to the aerospace industry, which is highly cyclical and
tends to decline in response to overall declines in the general economy. The commercial aerospace industry is historically driven by the demand from commercial airlines for new aircraft. Demand for commercial aircraft is influenced by airline
industry profitability, trends in airline passenger traffic, the state of the U.S. and global economies and numerous other factors, including the effects of terrorism. A number of major airlines have undergone Chapter 11 bankruptcy or comparable
insolvency proceedings and experienced financial strain from volatile fuel prices. The aerospace industry also suffered significantly in the wake of the events of September&nbsp;11, 2001, resulting in a sharp decrease globally in new commercial
aircraft deliveries and order cancellations or deferrals by the major airlines. Despite existing backlogs, continued financial uncertainty in the industry, inadequate liquidity of certain airline companies, production issues and delays in the launch
of new aircraft programs at major aircraft manufacturers, stock variations in the supply chain, terrorist acts or the increased threat of terrorism may lead to reduced demand for new aircraft that utilize our products, which could materially
adversely affect our financial position, results of operations and cash flows. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Further, the demand for our automotive extrusions and
rolled products and many of our general engineering and other industrial products is dependent on the production of cars, light trucks, and heavy duty vehicles and trailers. The automotive industry is highly cyclical, as new vehicle demand is
dependent on consumer spending and is tied closely to the strength of the overall economy. We note that the demand for luxury vehicles in China has become significant over the past several years and therefore fluctuations in the Chinese economy may
adversely affect the demand for our products. Production cuts by manufacturers may adversely affect the demand for our products. Many automotive-related manufacturers and first tier suppliers are burdened with substantial structural costs, including
pension, healthcare and labor costs that have resulted in severe financial difficulty, including bankruptcy, for several of them. A worsening of these companies&#146; financial condition or their bankruptcy could have further serious effects on the
conditions of the markets, which directly affects the demand for our products. In addition, the loss of business with respect to, or a lack of commercial success of, one or more particular vehicle models for which we are a significant supplier could
have a materially adverse impact on our financial position, results of operations and cash flows. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Customer demand in the aluminium
industry is also affected by holiday seasons, weather conditions, economic and other factors beyond our control. Our volumes are impacted by the timing of the holiday seasons in particular, with August and December typically being the lowest months
and January to June being the strongest months. Our business is also impacted by seasonal slowdowns and upturns in certain of our customers&#146; industries. Historically, the can industry is strongest in the spring and summer season, whereas the
automotive and construction sectors encounter slowdowns in both the third and fourth quarters of the calendar year. Therefore, our quarterly financial results could fluctuate as a result of climatic or other seasonal changes, and a prolonged period
of unusually cool summers in different regions in which we conduct our business could have a negative effect on our financial results and cash flows. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We may not be able to compete successfully in the highly competitive markets in which we operate, and new competitors could emerge,
which could negatively impact our share of industry sales, sales volumes and selling prices. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are engaged in a highly
competitive industry. We compete in the production and sale of rolled aluminium products with a number of other aluminium rolling mills, including large, single-purpose sheet mills, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-6- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
continuous casters and other multi-purpose mills, some of which are larger and have greater financial and technical resources than we do. Producers with a different cost basis may, in certain
circumstances, have a competitive pricing advantage. Our competitors may be better able to withstand reductions in price or other adverse industry or economic conditions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, a current or new competitor may also add or build new capacity, which could diminish our profitability by decreasing equilibrium
prices in our marketplace. New competitors could emerge from within Europe or North America or globally, including from China, Russia and the Middle East, and could include existing producers and sellers of steel products that may seek to compete in
our industry. Emerging or transitioning markets in these regions with abundant natural resources, low-cost labor and energy, and lower environmental and other standards may pose a significant competitive threat to our business. Our competitive
position may also be affected by exchange rate fluctuations that may make our products less competitive. Changes in regulation that have a disproportionately negative effect on us or our methods of production may also diminish our competitive
advantage and industry position. In addition, technological innovation is important to our customers who require us to lead or keep pace with new innovations to address their needs. If we do not compete successfully, our share of industry sales,
sales volumes and selling prices may be negatively impacted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, the aluminium industry has experienced consolidation over the
past years and there may be further industry consolidation in the future. Although industry consolidation has not yet had a significant negative impact on our business, if we do not have sufficient market presence or are unable to differentiate
ourselves from our competitors, we may not be able to compete successfully against other companies. If as a result of consolidation, our competitors are able to obtain more favorable terms from suppliers or otherwise take actions that could increase
their competitive strengths, our competitive position and therefore our business, results of operations and financial condition may be materially adversely affected. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our business involves significant activity in Europe, and adverse conditions and disruptions in European economies could have a material
adverse effect on our operations or financial performance. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A material portion of our sales are generated by customers located in
Europe. The financial markets remain concerned about the ability of certain European countries to finance their deficits and service growing debt burdens amidst difficult economic conditions. This loss of confidence has led to rescue measures by
Eurozone countries and the International Monetary Fund. Despite these measures, concerns persist regarding the debt burden of certain Eurozone countries and their ability to meet future financial obligations, the overall stability of the euro and
the suitability of the euro as a single currency given the diverse economic and political circumstances in individual Eurozone countries. In addition, the actions required to be taken by those countries as a condition to rescue packages, and by
other countries to mitigate similar developments in their economies, have resulted in increased political discord within and among Eurozone countries. The interdependencies among European economies and financial institutions have also exacerbated
concern regarding the stability of European financial markets generally. These concerns could lead to the re-introduction of individual currencies in one or more Eurozone countries, or, in more extreme circumstances, the possible dissolution of the
euro currency entirely. Should the euro dissolve entirely, the legal and contractual consequences for holders of euro-denominated obligations would be determined by laws in effect at such time. These potential developments, or market perceptions
concerning these and related issues, could materially adversely affect the value of the Company&#146;s euro-denominated assets and obligations. In addition, concerns over the effect of this financial crisis on financial institutions in Europe and
globally could have a material adverse impact on the capital markets generally. Persistent disruptions in the European financial markets, the overall stability of the euro and the suitability of the euro as a single currency or the failure of a
significant European financial institution, could have a material adverse impact on our operations or financial performance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition,
there can be no assurance that the actions we have taken or may take in response to global economic conditions may be sufficient to counter any continuation or reoccurrence of the downturn or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-7- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
disruptions. A significant global economic downturn or disruptions in the financial markets would have a material adverse effect on our financial position, results of operations and cash flows.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Adverse changes in currency exchange rates could negatively affect our financial results. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The financial condition and results of operations of some of our operating entities are reported in various currencies and then translated into
euros at the applicable exchange rate for inclusion in our consolidated financial statements. As a result, the appreciation of the euro against the currencies of our operating local entities may have a negative impact on reported revenues and
operating profit, and the resulting accounts receivable, while depreciation of the euro against these currencies may generally have a positive effect on reported revenues and operating profit. We do not hedge translation of forecasted results or
actual results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, while the majority of costs incurred are denominated in local currencies, a portion of the revenues are
denominated in U.S. dollars and other currencies. As a result, appreciation in the U.S. dollar may have a positive impact on earnings while depreciation of the U.S. dollar may have a negative impact on earnings. While we engage in significant
hedging activity to attempt to mitigate this foreign transactions currency risk, this may not fully protect us from adverse effects due to currency fluctuations on our business, financial condition or results of operations. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>A portion of our revenues is derived from our international operations, which exposes us to certain risks inherent in doing business
globally. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have operations primarily in the United States, Germany, France, Slovakia, Switzerland, the Czech Republic and China
and primarily sell our products across Europe, Asia and North America. We also continue to explore opportunities to expand our international operations, particularly in other parts of Asia. Our operations generally are subject to financial,
political, economic and business risks in connection with our global operations, including: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">changes in international governmental regulations, trade restrictions and laws, including those relating to taxes, employment and repatriation of earnings; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">currency exchange rate fluctuations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">tariffs and other trade barriers; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the potential for nationalization of enterprises or government policies favoring local production; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">renegotiation or nullification of existing agreements; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">interest rate fluctuations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">high rates of inflation; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">currency restrictions and limitations on repatriation of profits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">differing protections for intellectual property and enforcement thereof; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">divergent environmental laws and regulations; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">political, economic and social instability. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The occurrence of any of these events could cause
our costs to rise, limit growth opportunities or have a negative effect on our operations and our ability to plan for future periods. In certain emerging markets, the degree of these risks may be higher due to more volatile economic conditions, less
developed and predictable legal and regulatory regimes and increased potential for various types of adverse governmental action. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-8- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We are dependent on a limited number of suppliers for a substantial portion of our
aluminium supply and a failure to successfully renew, renegotiate or re-price our long-term agreements or related arrangements with our suppliers may adversely affect our results of operations, financial condition and cash flows. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our ability to produce competitively priced aluminium products depends on our ability to procure competitively priced supply of aluminium in a
timely manner and in sufficient quantities to meet our production needs. We have supply arrangements with a limited number of suppliers for aluminium and other raw materials. Our top 10 suppliers accounted for approximately 45% of our total
purchases for the year ended December&nbsp;31, 2014. Increasing aluminium demand levels have caused regional supply constraints in the industry, and further increases in demand levels could exacerbate these issues. We maintain long-term contracts
for a majority of our supply requirements, and for the remainder we depend on annual and spot purchases. There can be no assurance that we will be able to renew, or obtain replacements for, any of our long-term contracts or any related arrangements
when they expire on terms that are as favorable as our existing agreements or at all. Additionally, if any of our key suppliers is unable to deliver sufficient quantities of this material on a timely basis, our production may be disrupted and we
could be forced to purchase primary metal and other supplies from alternative sources, which may not be available in sufficient quantities or may only be available on terms that are less favorable to us. As a result, an interruption in key supplies
required for our operations could have a material adverse effect on our ability to produce and deliver products on a timely or cost-efficient basis and therefore on our financial condition, results of operations and cash flows. In addition, a
significant downturn in the business or financial condition of our significant suppliers exposes us to the risk of default by the supplier on our contractual agreements, and this risk is increased by weak and deteriorating economic conditions on a
global, regional or industry sector level. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We depend on scrap aluminium for our operations and acquire our scrap inventory from numerous
sources. Our suppliers generally are not bound by long-term contracts and have no obligation to sell scrap metal to us. In periods of low inventory prices, suppliers may elect to hold scrap until they are able to charge higher prices. In addition, a
decrease in the supply of used beverage containers (&#147;UBCs&#148;) available to us resulting from a decrease in the rate at which consumers consume or recycle products contained or packaged in aluminium beverage cans could negatively impact our
supply of aluminium. For example, the slowdown in industrial production and consumer consumption during the recent economic crisis reduced and may continue to reduce the supply of scrap metal available. If an adequate supply of scrap metal is not
available to us, we would be unable to recycle metals at desired volumes and our results of operation, financial condition and cash flows could be materially adversely affected. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, we seek to take advantage of the lower price of scrap aluminium compared to primary aluminium to provide a cost-competitive
product. A decrease in the supply of scrap aluminium could increase its cost per pound. To the extent the discount between the primary aluminium price and scrap price narrows, our competitive advantage may be reduced. We cannot make use of financial
markets to effectively hedge against reductions in this discount as this market is not readily available. If the difference between the price of primary and scrap aluminium is narrow for a considerable period of time, it could adversely affect our
business, financial condition and results of operations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our financial results could be adversely affected by the volatility in
aluminium prices. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The overall price of primary aluminium consists of several components: 1) the underlying base metal component,
which is typically based on quoted prices from the London Metal Exchange (&#147;LME&#148;); 2) the regional premium, which represents an incremental price over the base LME component that is associated with the physical delivery of metal to a
particular region (e.g. the Midwest premium for metal sold in the U.S. or the Rotterdam premium for metal sold in Europe); and 3) the product premium, which represents a separate incremental price for receiving physical metal in a particular shape
(e.g. billet, slab, rod, etc.), alloy, or purity. Each of these three components has its own drivers of variability. The LME price is typically driven by macroeconomic factors, global supply and demand of aluminium, including expectations for growth
and contraction and the level of global inventories). Regional premiums tend to vary based on the supply and demand </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-9- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
for metal in a particular region and associated transportation costs. Product premiums generally are a function of supply and demand for a given primary aluminium shape and alloy combination in a
particular region. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Speculative trading in aluminium has increased in recent years, contributing to higher levels of price volatility. In
2013, the LME price of aluminium reached a high of $2,123 per metric ton and a low of $1,695 per metric ton. During 2013 and 2014, regional premiums reached levels substantially higher than historical averages. The Rotterdam regional premium
increased from an average of 3% of the LME base price in the period from 2000 to 2009 to 22% of the LME base price in November 2014. The Midwest regional premium increased from 6% of the LME base price to 26% of the LME base price during the same
period. New LME warehousing rules, which took effect in February 2015, could lead to an increase in the supply of aluminium entering the physical market and in turn cause regional premiums to decrease, however, there is no assurance as to if or when
these new rules will have an actual impact on premium prices. Sustained high aluminium prices, increases in aluminium prices, the inability to meaningfully hedge our exposure to aluminium prices, or an increase in regional premiums or product
premiums could have a material adverse effect on our business, financial condition, and results of operations and cash flow. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>If we
are unable to adequately mitigate the cost of price increases of our raw materials, including aluminium, our profitability could be adversely affected. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prices for the raw materials we require are subject to continuous volatility and may increase from time to time. Although our sales are
generally made on a &#147;margin over metal price&#148; basis, if prices increase we may not be able to pass on the entire cost of the increases to our customers. There could also be a time lag between when changes in prices under our purchase
contracts are effective and the point when we can implement corresponding changes under our sales contracts with our customers. As a result, we are exposed to fluctuations in raw materials prices, including metal, since during this time lag we may
have to temporarily bear the additional cost of the price change under our purchase contracts. Further, although most of our contracts allow us to pass through metal prices to our customers, we have certain contracts that are based on fixed metal
pricing where pass through is not available. A related risk is that a sustained significant increase in raw materials prices may cause some of our customers to substitute our products with other materials. We attempt to mitigate these risks,
including through hedging, but we may not be able to successfully reduce or eliminate any resulting negative impact, which could have a material adverse effect on our profitability and financial results. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our results of operations, cash flows and liquidity could be adversely affected if we are unable to execute on our hedging policy, if
counterparties to our derivative instruments fail to honor their agreements or if we are unable to purchase derivative instruments. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We purchase and sell LME and other forwards, futures and options contracts as part of our efforts to reduce our exposure to changes in currency
exchange rates, aluminium prices and other raw materials prices. Our ability to realize the benefit of our hedging program is dependent upon many factors, including factors that are beyond our control. For example, our foreign exchange hedges are
scheduled to mature on the expected payment date by the customer; therefore, if the customer fails to pay an invoice on time and does not warn us in advance, we may be unable to reschedule the maturity date of the foreign exchange hedge, which could
result in an outflow of foreign currency that will not be offset until the customer makes the payment. We may realize a gain or a loss in unwinding such hedges. In addition, our metal-price hedging programs depend on our ability to match our monthly
exposure to sold and purchased metal, which can be made difficult by seasonal variations in metal demand, unplanned changes in metal delivery dates by either us or by our customers and other disruptions to our inventories, including for maintenance.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may also be exposed to losses if the counterparties to our derivative instruments fail to honor their agreements. Further, if major
financial institutions continue to consolidate and are forced to operate under more restrictive capital constraints and regulations, there could be less liquidity in the derivative markets, which could have a negative effect on our ability to hedge
and transact with creditworthy counterparties. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-10- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To the extent our hedging transactions fix prices or exchange rates and primary aluminium prices,
energy costs or foreign exchange rates are below the fixed prices or rates established by our hedging transactions, our income and cash flows will be lower than they otherwise would have been. Similarly, if we do not adequately hedge for prices and
premiums of our aluminium and other raw materials, our financial results may also be negatively impacted. Further, we do not apply hedge accounting to our forwards, futures or option contracts. As a result, unrealized gains and losses on our
derivative financial instruments must be reported in our consolidated results of operations. The inclusion of such unrealized gains and losses in earnings may produce significant period to period earnings volatility that is not necessarily
reflective of our underlying operating performance. In addition, in certain scenarios when market price movements result in a decline in value of our current derivatives position, our mark-to-market expense may exceed our credit line and
counterparties may request the posting of cash collateral which, in turn, can be a significant demand on our liquidity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At certain times,
hedging instruments may simply be unavailable or not available on terms acceptable to us. In addition, recent legislation has been adopted to increase the regulatory oversight of over-the-counter derivatives markets and derivative transactions. The
companies and transactions that are subject to these regulations may change. If future regulations subject us to additional capital or margin requirements or other restrictions on our trading and commodity positions, they could have an adverse
effect on our financial condition and results of operations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We are subject to unplanned business interruptions that may materially
adversely affect our business. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our operations may be materially adversely affected by unplanned events such as explosions, fires,
war or terrorism, inclement weather, accidents, equipment, information technology systems and process failures, electrical blackouts or outages, transportation interruptions and supply interruptions. Operational interruptions at one or more of our
production facilities could cause substantial losses and delays in our production capacity or increase our operating costs. In addition, replacement of assets damaged by such events could be difficult or expensive, and to the extent these losses are
not covered by insurance or our insurance policies have significant deductibles, our financial position, results of operations and cash flows may be materially adversely affected by such events. For example, in 2008, a stretcher at
Constellium&#146;s Ravenswood, West Virginia facility was damaged due to a defect in its hydraulic system, causing a substantial outage at that facility that had a material impact on our production volumes at this facility and on our financial
results for the affected period. In 2014, Constellium&#146;s Ravenswood facility suffered outages that had an adverse impact on earnings for the first and fourth quarters of&nbsp;2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Furthermore, because customers may be dependent on planned deliveries from us, customers that have to reschedule their own production due to
our delivery delays may be able to pursue financial claims against us, and we may incur costs to correct such problems in addition to any liability resulting from such claims. Interruptions may also harm our reputation among actual and potential
customers, potentially resulting in a loss of business. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>If we were to lose order volumes from any of our largest customers, our
sales volumes, revenues and cash flows would be reduced. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our business is exposed to risks related to customer concentration. Our
ten largest customers accounted for approximately 46% of our consolidated revenues for the year ended December&nbsp;31, 2014. A significant downturn in the business or financial condition of our significant customers exposes us to the risk of
default on contractual agreements and trade receivables, and this risk is increased by weak and deteriorating economic conditions on a global, regional or industry sector level. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we fail to successfully renew, renegotiate or re-price our long-term agreements or related arrangements with our largest customers,
including as a result of customers of Wise (as defined below) exercising change of control rights in connection with the Wise Acquisition, our results of operations, financial condition and cash flows could be materially adversely affected. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-11- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have long-term contracts and related arrangements with a significant number of our customers,
some of which are subject to renewal, renegotiation or re-pricing at periodic intervals or upon changes in competitive and regulatory supply conditions. They also provide certain termination rights to our customers. In addition, change of control
provisions in certain contracts may give customers the right to terminate or change the terms of those contracts as a result of the Wise Acquisition. Our failure to successfully renew, renegotiate or re-price such agreements, at all or on terms as
favorable as our existing contracts and arrangements, or a material deterioration in or termination of these customer relationships, could result in a reduction or loss in customer purchase volume or revenue, and if we are not successful in
replacing business lost from such customers, our results of operations, financial condition and cash flows could be materially adversely affected. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, our strategy of having dedicated facilities and arrangements with customers subjects us to the inherent risk of increased
dependence on a single or a few customers with respect to these facilities. In such cases, the loss of such a customer, or the reduction of that customer&#146;s business at one or more of our facilities, could negatively affect our financial
condition and results of operations, and we may be unable to timely replace, or replace at all, lost order volumes and revenue. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The
price volatility of energy costs may adversely affect our profitability. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our operations use natural gas and electricity, which
represent the third largest component of our cost of sales, after metal and labor costs. We purchase part of our natural gas and electricity on a spot-market basis. The volatility in costs of fuel, principally natural gas, and other utility
services, principally electricity, used by our production facilities affect operating costs. Fuel and utility prices have been, and will continue to be, affected by factors outside our control, such as supply and demand for fuel and utility services
in both local and regional markets as well as governmental regulation and imposition of further taxes on energy. Although we have secured some of our natural gas and electricity under fixed price commitments or long-term contracts with suppliers,
future increases in fuel and utility prices, or disruptions in energy supply, may have an adverse effect on our financial position, results of operations and cash flows. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Regulations regarding carbon dioxide emissions, and unfavorable allocation of rights to emit carbon dioxide or other air emission
related issues, as well as other environmental laws and regulations, could have a material adverse effect on our business, financial condition and results of operations. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Many scientists, legislators and others attribute climate change to increased levels of greenhouse gases, including carbon dioxide, which has
led to significant legislative and regulatory efforts to limit greenhouse gas emissions. Measures to reduce carbon dioxide and other greenhouse gas emissions that could directly or indirectly affect us or our suppliers are currently being developed
or may be developed in the future. Substantial quantities of greenhouse gases are released as a consequence of our operations. Compliance with regulations governing such emissions tend to become more stringent over time and could lead to a need for
us to further reduce such greenhouse gas emissions, to purchase rights to emit from third parties, or to make other changes to our business, all of which could result in significant additional costs or could reduce demand for our products. In
addition, we are a significant purchaser of energy. Existing and future regulations relating to the emission of carbon dioxide by our energy suppliers could result in materially increased energy costs for our operations, and we may be unable to pass
along these increased energy costs to our customers, which could have a material adverse effect on our business, financial condition and results of operations. For example, a revised European emissions trading system or a successor to the Kyoto
Protocol under the United Nations Framework Convention on Climate Change, could have a material adverse effect on our business, financial condition and results of operations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our fabrication process is subject to regulations that may hinder our ability to manufacture our products. Some of the chemicals we use on our
fabrication processes are subject to government regulation, such as REACH (&#147;Registration, Evaluation, Authorisation, and Restriction of Chemicals substances&#148;) in the EU. Under REACH, we are required to register some of our products with
the European Chemicals Agency, and this process </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-12- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
could cause significant delays or costs. If we fail to comply with these or similar laws and regulations, we may be required to make significant expenditures to reformulate the chemicals that we
use in our products and materials or incur costs to register such chemicals to gain and/or regain compliance, and we may lose customers or revenue as a result. Additionally, we could be subject to significant fines or other civil and criminal
penalties should we not achieve such compliance. To the extent that other nations in which we operate also require chemical registration, potential delays similar to those in Europe may delay our entry into these markets. Any failure to obtain or
delay in obtaining regulatory approvals for chemical products used in our facilities could have a material adverse effect on our business, financial condition and results of operations. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We may not be able to successfully develop and implement new technology initiatives and other strategic investments in a timely manner.
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have invested in, and are involved with, a number of technology and process initiatives, including the development of new
aluminium-lithium products. Being at the forefront of technological development is important to remain competitive. Several technical aspects of certain of these initiatives are still unproven and/or the eventual commercial outcomes and feasibility
cannot be assessed with any certainty. Even if we are successful with these initiatives, we may not be able to bring them to market as planned before our competitors or at all, and the initiatives may end up costing more than expected. As a result,
the costs and benefits from our investments in new technologies and the impact on our financial results may vary from present expectations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, we have undertaken and may continue to undertake growth, streamlining and productivity initiatives to improve performance. For
example, following completion of the Wise Acquisition we anticipate additional capital expenditures in the U.S. of up to $750 million by 2022 to increase our current hot mill capacity to over 700 kt and build 200 kt of dedicated BiW finishing
capacity. We cannot assure you that these initiatives will be completed or that they will have their intended benefits. Capital investments in debottlenecking or other organic growth initiatives may not produce the returns we anticipate. Even if we
are able to generate new efficiencies successfully in the short- to medium-term, we may not be able to continue to reduce cost and increase productivity over the long term. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our business requires substantial capital investments that we may be unable to fulfill. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our operations are capital intensive. Our total capital expenditures were &#128;199&nbsp;million for the year ended December&nbsp;31, 2014 and
&#128;144&nbsp;million and &#128;126&nbsp;million for the years ended December&nbsp;31, 2013 and 2012, respectively. We further anticipate additional capital expenditures in the U.S. of up to $750 million by 2022 following completion of the Wise
Acquisition to increase our current hot mill capacity to over 700 kt and build 200 kt of dedicated BiW finishing capacity. We may not generate sufficient operating cash flows and our external financing sources may not be available in an amount
sufficient to enable us to make anticipated capital expenditures, service or refinance our indebtedness or fund other liquidity needs. If we are unable to make upgrades or purchase new plants and equipment, our financial condition and results of
operations could be materially adversely affected by higher maintenance costs, lower sales volumes due to the impact of reduced product quality, and other competitive factors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>As part of our ongoing evaluation of our operations, we may undertake additional restructuring efforts in the future which could in some
instances result in significant severance-related costs and other restructuring charges. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We recorded restructuring charges of
&#128;12&nbsp;million for the year ended December&nbsp;31, 2014, &#128;8&nbsp;million for the year ended December&nbsp;31, 2013 and &#128;25&nbsp;million for the year ended December&nbsp;31, 2012. Restructuring costs in 2014 and 2013 were primarily
related to corporate and other European sites restructuring operations. The 2012 costs were primarily in relation to an efficiency improvement program ongoing at our Sierre, Switzerland facility and corporate restructuring. We may pursue additional
restructuring activities in the future, which could result in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-13- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
significant severance-related costs, impairment charges, restructuring charges and related costs and expenses, including resulting labor disputes, which could materially adversely affect our
profitability and cash flows. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>A deterioration in our financial position or a downgrade of our ratings by a credit rating agency
could increase our borrowing costs and our business relationships could be adversely affected. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;7, 2014, following
our announcement that we had entered into the Unit Purchase Agreement, Moody&#146;s placed Constellium&#146;s credit rating under review for downgrade, stating that the Wise Acquisition could result in a material increase of Constellium&#146;s
indebtedness on a pro forma basis and a significant increase in capital expenditures in the next few years. On October&nbsp;10, 2014, S&amp;P also placed Constellium&#146;s credit rating under review for downgrade. On December&nbsp;4, 2014,
Moody&#146;s downgraded Constellium from Ba3 to B1 and S&amp;P downgraded Constellium from BB- to B. A deterioration of our financial position or a downgrade of our credit ratings for any reason could increase our borrowing costs and have an adverse
effect on our business relationships with customers, suppliers and hedging counterparties. As discussed above, we enter into various forms of hedging arrangements against currency, interest rate or metal price fluctuations and trade metal contracts
on the LME. Financial strength and credit ratings are important to the availability and pricing of these hedging and trading activities. As a result, any downgrade of our credit ratings may make it more costly for us to engage in these activities,
and changes to our level of indebtedness may make it more difficult or costly for us to engage in hedging and trading activities in the future. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, a downgrade could adversely affect our existing financing, limit access to the capital or credit markets, or otherwise adversely
affect the availability of other new financing on favorable terms, if at all, result in more restrictive covenants in agreements governing the terms of any future indebtedness that we incur, increase our borrowing costs, or otherwise impair our
business, financial condition and results of operations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our indebtedness could materially adversely affect our ability to invest
in or fund our operations, limit our ability to react to changes in the economy or our industry or force us to take alternative measures. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our indebtedness impacts our flexibility in operating our business and could have important consequences for our business and operations,
including the following: (i)&nbsp;it may make us more vulnerable to downturns in our business or the economy; (ii)&nbsp;a substantial portion of our cash flows from operations will be dedicated to the repayment of our indebtedness and will not be
available for other purposes; (iii)&nbsp;it may restrict us from making strategic acquisitions, introducing new technologies or exploiting business opportunities; and (iv)&nbsp;it may adversely affect the terms under which suppliers provide goods
and services to us. As further described in &#147;Item&nbsp;10. Additional Information&#150;C. Material Contracts,&#148; our indebtedness has materially increased as a result of the Wise Acquisition. By increasing our indebtedness, we have made
ourselves more susceptible to the risks discussed above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we are unable to meet our debt service obligations, including our obligations
under our Notes and pay our expenses, we may be forced to reduce or delay business activities and capital expenditures, sell assets, obtain additional debt or equity capital, restructure or refinance all or a portion of our debt before maturity or
take other measures. Such measures may materially adversely affect our business. If these alternative measures are unsuccessful, we could default on our obligations, which could result in the acceleration of our outstanding debt obligations and
could have a material adverse effect on our business, results of operations and financial condition. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The terms of our indebtedness
contain covenants that restrict our current and future operations, and a failure by us to comply with those covenants may materially adversely affect our business, results of operations and financial condition. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our indebtedness and the indebtedness of Wise that we have assumed in connection with the Wise Acquisition contain, and any future indebtedness
we may incur would likely contain, a number of restrictive </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-14- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
covenants that will impose significant operating and financial restrictions on our ability to, among other things: (i)&nbsp;incur or guarantee additional debt; (ii)&nbsp;pay dividends and make
other restricted payments and investments; (iii)&nbsp;create or incur certain liens; (iv)&nbsp;make certain loans, acquisitions or investments; (v)&nbsp;engage in sales of assets and subsidiary stock; (vi)&nbsp;enter into transactions with
affiliates; (vii)&nbsp;transfer all or substantially all of our assets or enter into merger or consolidation transactions; and (viii)&nbsp;enter into sale and lease-back transactions. In addition, after giving effect to the amendment to our senior
unsecured revolving credit facility entered into in May 2014 (the &#147;Unsecured Revolving Credit Facility&#148;), at any time that loans under the Unsecured Revolving Credit Facility are (a)&nbsp;borrowed, to the extent that immediately after
giving effect to such borrowing, loans in excess of 30% of the total commitments under the Unsecured Revolving Credit Facility would be outstanding, or (b)&nbsp;outstanding on the last day of our fiscal quarter, the Unsecured Revolving Credit
Facility will require us to (x)&nbsp;maintain a consolidated total net leverage ratio of no more than 4.50 to 1.00, (y)&nbsp;maintain a minimum fixed charge coverage ratio of not less than 2.50 to 1.00, and (z)&nbsp;ensure that, taken together, the
Company and the guarantors of the Unsecured Revolving Credit Facility have (i)&nbsp;assets representing not less than 60% of the consolidated total assets of the Company and its subsidiaries (excluding Wise and its subsidiaries while the Wise Notes
or the Wise ABL Facility prohibit Wise or such subsidiary from guaranteeing the obligations under the Unsecured Revolving Credit Facility) and (ii)&nbsp;EBITDA representing not less than 75% of the consolidated EBITDA of the Company and its
restricted subsidiaries (excluding Wise and its subsidiaries while the Wise Notes or the Wise ABL Facility prohibit Wise or such subsidiary from guaranteeing the obligations under the Unsecured Revolving Credit Facility). Additionally, our European
Factoring Agreements contain a group level minimum liquidity covenant that is tested quarterly and requires us to maintain minimum liquidity of at least $50&nbsp;million. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A failure to comply with our debt covenants could result in an event of default that, if not cured or waived, could have a material adverse
effect on our business, results of operations and financial condition. If we default under our indebtedness, we may not be able to borrow additional amounts and our lenders could elect to declare all outstanding borrowings, together with accrued and
unpaid interest and fees, to be due and payable, or take other remedial actions. Our indebtedness also contains cross-default provisions, which means that if an event of default occurs under certain material indebtedness, such event of default may
trigger an event of default under our other indebtedness. If our indebtedness were to be accelerated, we cannot assure you that our assets would be sufficient to repay such indebtedness in full and our lenders could foreclose on our pledged assets.
See &#147;Item&nbsp;10. Additional Information&#150;C. Material Contracts.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our existing, and any future, variable rate
indebtedness subjects us to interest rate risk, which could cause our annual debt service obligations to increase significantly. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A
portion of our indebtedness is, and our future indebtedness may be, subject to variable rates of interest, exposing us to interest rate risk. See &#147;Item 10. Additional Information&#150;C. Material Contracts.&#148; If interest rates increase, our
debt service obligations on the variable rate indebtedness would increase, resulting in a reduction of our net income that could be significant, even though the principal amount borrowed would remain the same. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We could be required to make unexpected contributions to our defined benefit pension plans as a result of adverse changes in interest
rates and the capital markets. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Most of our pension obligations relate to funded defined benefit pension plans for our employees in
the United States and Switzerland, unfunded pension benefits in France and Germany, and lump sum indemnities payable to our employees in France and Germany upon retirement or termination. Our pension plan assets consist primarily of funds invested
in listed stocks and bonds. Our estimates of liabilities and expenses for pensions and other post-retirement benefits incorporate a number of assumptions, including interest rates used to discount future benefits. Our results of operations,
liquidity or shareholders&#146; equity in a particular period could be materially adversely affected by capital market returns that are less than their assumed long-term rate of return or a decline in the rate used to discount future benefits. If
the assets of our pension plans do not achieve assumed investment returns for any period, such deficiency could result in one or more charges against our earnings for </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-15- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
that period. In addition, changing economic conditions, poor pension investment returns or other factors may require us to make unexpected cash contributions to the pension plans in the future,
preventing the use of such cash for other purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, our newly-acquired subsidiary Wise provides benefits under a defined
benefit pension plan that was frozen in 2007. Declines in interest rates or the value of pension assets or certain other changes could affect the level and timing of required contributions to the pension plan in the future. If future contributions
are insufficient to fund the pension plan adequately to cover Wise&#146;s future pension obligations, we could incur cash expenditures and costs materially higher than anticipated. Wise&#146;s pension obligation is calculated annually and is based
on several assumptions, including then prevailing conditions, which may change from year to year. In any year, if these assumptions are inaccurate, we could be required to expend greater amounts than anticipated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Wise also participates in various &#147;multi-employer&#148; pension plans administered by labor unions representing some of its employees.
Wise&#146;s withdrawal liability for any multi-employer plan would depend on the extent of the plan&#146;s funding of vested benefits. In the ordinary course of Wise&#146;s renegotiation of collective bargaining agreements with labor unions that
maintain these plans, Wise could decide to discontinue participation in a plan, and in that event Wise could face a withdrawal liability. Wise could also be treated as withdrawing from participation in one of these plans if the number of its
employees participating in these plans is reduced to a certain degree over certain periods of time. Such reductions in the number of Wise&#146;s employees participating in these plans could occur as a result of changes in Wise&#146;s business
operations, such as facility closures or consolidations. Any withdrawal liability could have an adverse effect on our results of operations. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>A substantial percentage of our workforce is unionized or covered by collective bargaining agreements that may not be successfully
renegotiated. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A significant number of our employees (approximately 80% of our total headcount) are represented by unions or
equivalent bodies or are covered by collective bargaining or similar agreements that are subject to periodic renegotiation. Although we believe that we will be able to successfully negotiate new collective bargaining agreements when the current
agreements expire, these negotiations may not prove successful, and may result in a significant increase in the cost of labor, or may break down and result in the disruption or cessation of our operations. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We could experience labor disputes and work stoppages that could disrupt our business and have a negative impact on our financial
condition and results of operations. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">From time to time, we may experience labor disputes and work stoppages at our facilities. For
example, we experienced work stoppages and labor disturbances at our Ravenswood facility in 2012 in conjunction with the renegotiation of the collective bargaining agreement. Additionally, we experienced work stoppages and labor disturbances at our
Issoire and Neuf-Brisach facilities in November 2013 and resumed normal operations in early December 2013. Existing collective bargaining agreements may not prevent a strike or work stoppage at our facilities in the future. Any such stoppages or
disturbances may have a negative impact on our financial condition and results of operations by limiting plant production, sales volumes, profitability and operating costs. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The loss of certain members of our management team may have a material adverse effect on our operating results. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our success will depend, in part, on the efforts of our senior management and other key employees. These individuals possess sales, marketing,
engineering, technical, manufacturing, financial and administrative skills that are critical to the operation of our business. If we lose or suffer an extended interruption in the services of one or more of our senior officers or other key
employees, our ability to operate and expand our business, improve our operations, develop new products, and, as a result, our financial condition and results of operations, may be negatively affected. Moreover, the pool of qualified individuals is
highly competitive, and we may not be </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-16- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
able to attract and retain qualified personnel to replace or succeed members of our senior management or other key employees, should the need arise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, in light of demographic trends in the labor markets where we operate, we expect that our factories will be confronted with high
levels of natural attrition in the coming years due to retirements. Strategic workforce planning will be a challenge to ensure a controlled exit of skills and competencies and the timely acquisition of new talent and competencies, in line with
changing technological and industrial needs. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>If we do not adequately maintain and continue to evolve our financial reporting and
internal controls (which could result in higher operating costs), we may be unable to accurately report our financial results or prevent fraud. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will need to continue to improve existing, and implement new, financial reporting and management systems, procedures and controls to manage
our business effectively and support our growth in the future, especially because we lack a long history of operations as a standalone entity. Any delay in the implementation of, or disruption in the transition to, new or enhanced systems,
procedures and controls, or the obsolescence of existing financial control systems, could harm our ability to accurately forecast sales demand and record and report financial and management information on a timely and accurate basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Although Wise, as a private company, was not subject to reporting under the Sarbanes-Oxley Act of 2002, during its prior audits through 2014,
Wise concluded that it had a material weakness starting in 2006 relating to the financial close and review process and sufficiency and training of its financial reporting staff, which remained through 2014. During its 2014 audit, Wise concluded that
it had an additional material weakness relating to inadequate and non-timely communication between its operations and accounting departments. A &#147;material weakness&#148; is a deficiency, or combination of deficiencies, in internal control over
financial reporting such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis. Wise engaged in ongoing remediation of the material
weaknesses by hiring additional financial staff, and reviewed and updated scheduling and planning protocols to ensure compliance with financial reporting deadlines. However, as of December&nbsp;31, 2014, all these weaknesses were not yet remediated.
There can be no assurance as to when or whether we will able to remediate any remaining material weaknesses in Wise&#146;s internal control over financial reporting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We could also suffer a loss of confidence in the reliability of our financial statements if our independent registered public accounting firm
reports a material weakness in our internal controls, if we do not develop and maintain effective controls and procedures or if we are otherwise unable to deliver timely and reliable financial information. Any loss of confidence in the reliability
of our financial statements or other negative reaction to our failure to develop timely or adequate disclosure controls and procedures or internal controls could result in a decline in the trading price of our ordinary shares. In addition, if we
fail to remedy any material weakness, our financial statements may be inaccurate, we may face restricted access to the capital markets and the price of our ordinary shares may be materially adversely affected. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We may not be able to adequately protect proprietary rights to our technology. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our success depends in part upon our proprietary technology and processes. We believe that our intellectual property has significant value and
is important to the marketing of our products and maintaining our competitive advantage. Although we attempt to protect our intellectual property rights both in the United States and in foreign countries through a combination of patent, trademark,
trade secret and copyright laws, as well as through confidentiality and nondisclosure agreements and other measures, these measures may not be adequate to fully protect our rights. For example, we have a presence in China, which historically has
afforded less protection to intellectual property rights than the United States. Our failure to obtain or maintain adequate protection of our intellectual property rights for any reason could have a material adverse effect on our business, results
of operations and financial condition. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-17- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have applied for patent protection relating to certain existing and proposed products and
processes. While we generally apply for patents in those countries where we intend to make, have made, use or sell patented products, we may not accurately predict all of the countries where patent protection will ultimately be desirable. If we fail
to timely file a patent application in any such country, we may be precluded from doing so at a later date. Furthermore, we cannot assure you that any of our patent applications will be approved. We also cannot assure you that the patents issuing as
a result of our foreign patent applications will have the same scope of coverage as our United States patents. The patents we own could be challenged, invalidated or circumvented by others and may not be of sufficient scope or strength to provide us
with any meaningful protection or commercial advantage. Further, we cannot assure you that competitors will not infringe our patents, or that we will have adequate resources to enforce our patents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We also rely on unpatented proprietary technology. It is possible that others will independently develop the same or similar technology or
otherwise obtain access to our unpatented technology. To protect our trade secrets and other proprietary information, we require employees, consultants, advisors and collaborators to enter into confidentiality agreements. We cannot assure you that
these agreements will provide meaningful protection for our trade secrets, know-how or other proprietary information in the event of any unauthorized use, misappropriation or disclosure of such trade secrets, know-how or other proprietary
information. If we are unable to maintain the proprietary nature of our technologies, we could be materially adversely affected. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We rely
on our trademarks, trade names and brand names to distinguish our products from the products of our competitors, and have registered or applied to register many of these trademarks. We cannot assure you that our trademark applications will be
approved. Third parties may also oppose our trademark applications, or otherwise challenge our use of the trademarks. In the event that our trademarks are successfully challenged, we could be forced to rebrand our products, which could result in
loss of brand recognition, and could require us to devote resources to advertising and marketing new brands. Further, we cannot assure you that competitors will not infringe our trademarks, or that we will have adequate resources to enforce our
trademarks. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We may institute or be named as a defendant in litigation regarding our intellectual property and such litigation may
be costly and divert management&#146;s attention and resources. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any attempts to enforce our intellectual property rights, even if
successful, could result in costly and prolonged litigation, divert management&#146;s attention and resources, and materially adversely affect our results of operations and cash flows. The unauthorized use of our intellectual property may adversely
affect our results of operations as our competitors would be able to utilize such property without having had to incur the costs of developing it, thus potentially reducing our relative profitability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Furthermore, we may be subject to claims that we have infringed the intellectual property rights of another. Even if without merit, such
claims could result in costly and prolonged litigation, cause us to cease making, licensing or using products or technologies that incorporate the challenged intellectual property, require us to redesign, reengineer or rebrand our products, if
feasible, divert management&#146;s attention and resources, and materially adversely affect our results of operations and cash flows. We may also be required to enter into licensing agreements in order to continue using technology that is important
to our business, or we may be unable to obtain license agreements on acceptable terms, either of which could negatively affect our financial position, results of operations and cash flows. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Interruptions in or failures of our information systems, or failure to protect our information systems against cyber-attacks or
information security breaches, could have a material adverse effect on our business. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The efficient operation of our business
depends on our information technology systems. We rely on our information technology systems to effectively manage our business, data, accounting, financial reporting, communications, supply chain, order entry and fulfillment and other business
processes. The failure of our information technology systems to perform as we anticipate could disrupt our business and could result in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-18- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
transaction errors, processing inefficiencies, and the loss of sales and customers, causing our business and results of operations to suffer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, Wise recently completed the implementation of an SAP system, which replaced its old accounting and management systems. This
implementation poses several challenges relating to, among other things, training of personnel, communication of new rules and procedures, changes in corporate culture, migration of data and the potential instability of the new system. There can be
no assurances that the new SAP system will be successful or result in the anticipated benefits to our business operations or that it will be successfully integrated into our information systems. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Information security risks have generally increased in recent years because of the proliferation of new technologies and the increased
sophistication and activities of perpetrators of cyber-attacks. A failure in or breach of our information systems as a result of cyber-attacks or information security breaches could disrupt our business, result in the disclosure or misuse of
confidential or proprietary information, damage our reputation, increase our costs or cause losses. As cyber threats continue to evolve, we may be required to expend additional resources to continue to enhance our information security measures or to
investigate and remediate any information security vulnerabilities. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Current liabilities under, as well as the cost of compliance
with, environmental, health and safety laws could increase our operating costs and negatively affect our financial condition and results of operations. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our operations are subject to federal, state and local laws and regulations in the jurisdictions where we do business, which govern, among
other things, air emissions, wastewater discharges, the handling, storage and disposal of hazardous substances and wastes, the remediation of contaminated sites, and employee health and safety. At December&nbsp;31, 2014, we had close-down and
environmental restoration costs provisions of &#128;47&nbsp;million. Future environmental regulations or more aggressive enforcement of existing regulations could impose stricter compliance requirements on us and on the industries in which we
operate. Additional pollution control equipment, process changes, or other environmental control measures may be needed at some of our facilities to meet future requirements. If we are unable to comply with these laws and regulations, we could incur
substantial costs, including fines and civil or criminal sanctions, or costs associated with upgrades to our facilities or changes in our manufacturing processes in order to achieve and maintain compliance. Additionally, evolving regulatory
standards and expectations can result in increased litigation and/or increased costs. There are also no assurances that newly discovered conditions, or new or more aggressive enforcement of applicable environmental requirements, or any failure by
counterparties to perform indemnification obligations, will not have a material adverse effect on our business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Financial responsibility
for contaminated property can be imposed on us where current operations have had an environmental impact. Such liability can include the cost of investigating and remediating contaminated soil or ground water, financial assurance, fines and
penalties sought by environmental authorities, and damages arising out of personal injury, contaminated property and other toxic tort claims, as well as lost or impaired natural resources. Certain environmental laws impose strict, and in certain
circumstances joint and several, liability for certain kinds of matters, such that a person can be held liable without regard to fault for all of the costs of a matter regardless of legality at the time of conduct and even though others were also
involved or responsible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our newly acquired subsidiary Wise is subject to or party to certain environmental claims and matters and there
can be no assurances that those matters will be resolved favorably or that such matters will not adversely affect our business, financial condition and results of operations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have accrued, and expect to accrue, costs relating to the above matters that are reasonably expected to be incurred based on available
information. However, it is possible that actual costs may differ, perhaps significantly, from the amounts expected or accrued. Similarly, the timing of those expenditures may occur faster </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-19- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
than anticipated. These differences could negatively affect our financial position, results of operations and cash flows. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Other legal proceedings or investigations, or changes in applicable laws and regulations, could increase our operating costs and
negatively affect our financial condition and results of operations. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may from time-to-time be involved in, or be the subject
of, disputes, proceedings and investigations with respect to a variety of matters, including matters related to personal injury, intellectual property, employees, taxes, contracts, anti-competitive or anti-corruption practices as well as other
disputes and proceedings that arise in the ordinary course of business. It could be costly to address these claims or any investigations involving them, whether meritorious or not, and legal proceedings and investigations could divert
management&#146;s attention as well as operational resources, negatively affecting our financial position, results of operations and cash flows. Additionally, as with the environmental laws and regulations, other laws and regulations which govern
our business are subject to change at any time. Compliance with changes to existing laws and regulations could have a material adverse effect on our financial position, results of operations and cash flows. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Product liability claims against us could result in significant costs and could materially adversely affect our reputation and our
business. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If any of the products that we sell are defective or cause harm to any of our customers, we could be exposed to product
liability lawsuits and/or warranty claims. If we were found liable under product liability claims or are obligated under warranty claims, we could be required to pay substantial monetary damages. Even if we successfully defend ourselves against
these types of claims, we could still be forced to spend a substantial amount of money in litigation expenses, our management could be required to devote significant time and attention to defending against these claims, and our reputation could
suffer, any of which could harm our business. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our operations present significant risk of injury or death. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Because of the heavy industrial activities conducted at our facilities, there exists a risk of injury or death to our employees or other
visitors, notwithstanding the safety precautions we take. Our operations are subject to regulation by national, state and local agencies responsible for employee health and safety, which has from time to time levied fines against us for certain
isolated incidents. While such fines have not been material and we have in place policies to minimize such risks, we may nevertheless be unable to avoid material liabilities for any employee death or injury that may occur in the future, and any such
incidents may materially adversely impact our reputation. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The insurance that we maintain may not fully cover all potential
exposures. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We maintain property, casualty and workers&#146; compensation insurance, but such insurance does not cover all risks
associated with the hazards of our business and is subject to limitations, including deductibles and maximum liabilities covered. We may incur losses beyond the limits, or outside the coverage, of our insurance policies, including but not limited
to, liabilities for breach of contract, environmental compliance or remediation. In addition, from time to time, various types of insurance for companies in our industries have not been available on commercially acceptable terms or, in some cases,
have not been available at all. In the future, we may not be able to obtain coverage at current levels, and our premiums may increase significantly on coverage that we maintain. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Increases in our effective tax rate and exposures to additional income tax liabilities due to audits could materially adversely affect
our business. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We operate in multiple tax jurisdictions and pay tax on our income according to the tax laws of these jurisdictions.
Various factors, some of which are beyond our control, determine our effective tax rate and/or the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-20- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount we are required to pay, including changes in or interpretations of tax laws in any given jurisdiction, our ability to use net operating loss and tax credit carry forwards and other tax
attributes, changes in geographical allocation of income and expense, and our judgment about the realizability of deferred tax assets. Such changes to our effective tax rate could materially adversely affect our financial position, liquidity,
results of operations and cash flows. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, due to the size and nature of our business, we are subject to ongoing reviews by
taxing jurisdictions on various tax matters, including challenges to positions we assert on our income tax and withholding tax returns. We accrue income tax liabilities and tax contingencies based upon our best estimate of the taxes ultimately
expected to be paid after considering our knowledge of all relevant facts and circumstances, existing tax laws, our experience with previous audits and settlements, the status of current tax examinations and how the tax authorities view certain
issues. Such amounts are included in income taxes payable, other non-current liabilities or deferred income tax liabilities, as appropriate, and updated over time as more information becomes available. We record additional tax expense in the period
in which we determine that the recorded tax liability is less than the ultimate assessment we expect. We are currently subject to audit and review in a number of jurisdictions in which we operate, and further audits may commence in the future. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our historical financial information presented in this report may not be representative of future results and our relatively short
history operating as a standalone company may pose some challenges. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Due to inherent uncertainties of our business, the historical
financial information does not necessarily indicate what our results of operations, financial position, cash flows or costs and expenses will be in the future as past performance is not necessarily an indicator of future performance. In addition, we
have a relatively short history operating as a standalone company which may pose some operational challenges to our management. Our management team has faced and could continue to face operational and organizational challenges and costs related to
operating as a standalone company, such as continuing to establish various corporate functions, formulating policies, preparing standalone financial statements and continued integration of the management team. These challenges may divert their
attention from running our core business or otherwise materially adversely affect our operating results. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We are a foreign private
issuer under the U.S. securities laws within the meaning of the New York Stock Exchange (&#147;NYSE&#148;) rules. As a result, we qualify for and rely on exemptions from certain corporate governance requirements and may rely on other exemptions
available to us in the future. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As a &#147;foreign private issuer,&#148; as such term is defined in Rule 405 under the Securities
Act, we are permitted to follow our home country practice in lieu of certain corporate governance requirements of the NYSE, including the NYSE requirements that (i)&nbsp;a majority of the board of directors consists of independent directors;
(ii)&nbsp;the nominating and corporate governance committee be composed entirely of independent directors with a written charter addressing the committee&#146;s purpose and responsibilities; and (iii)&nbsp;the compensation committee be composed
entirely of independent directors with a written charter addressing the committee&#146;s purpose and responsibilities. Foreign private issuers are also exempt from certain U.S. securities law requirements applicable to U.S. domestic issuers,
including the requirement to file quarterly reports on Form 10-Q and to distribute a proxy statement pursuant to Exchange Act Section&nbsp;14 in connection with the solicitation of proxies for shareholder meetings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We rely on the exemptions for foreign private issuers and follow Dutch corporate governance practices in lieu of some of the NYSE corporate
governance rules specified above. We currently rely on exemptions from the requirements set out in (i), (ii)&nbsp;and (iii)&nbsp;above, but in the future, we may change what home country corporate governance practices we follow, and, accordingly,
which exemptions we rely on from the NYSE requirements. So long as we qualify as a foreign private issuer, you may not have the same protections afforded to shareholders of companies that are subject to all of the NYSE corporate governance
requirements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-21- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>We may lose our foreign private issuer status in the future, which could result in significant additional
costs and expenses. If we were to lose our foreign private issuer status, the regulatory and compliance costs to us under U.S. securities laws as a U.S. domestic issuer could be significantly more than costs we incur as a foreign private issuer.
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we were not a foreign private issuer, we would be required to file periodic reports and registration statements on U.S.
domestic issuer forms with the SEC, including proxy statements pursuant to Section&nbsp;14 of the Exchange Act. These SEC disclosure requirements are more detailed and extensive than the forms available to a foreign private issuer. In addition, our
directors, officers and 10% owners would become subject to insider short-swing profit disclosure and recovery rules under Section&nbsp;16 of the Exchange Act. We could also be required to modify certain of our policies to comply with corporate
governance practices associated with U.S. domestic issuers. Such conversion and modifications would involve additional costs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
addition, we would lose our ability to rely upon exemptions from certain NYSE corporate governance requirements that are available to foreign private issuers. In particular, within six months of losing our foreign private issuer status we would be
required to have a majority of independent directors and a nominating/corporate governance committee and a compensation committee comprised entirely of independent directors, unless other exemptions are available under the NYSE rules. Any of these
changes would likely increase our regulatory and compliance costs and expenses, which could have a material adverse effect on our business and financial results. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We do not comply with all the provisions of the Dutch Corporate Governance Code which could affect your rights as a shareholder.
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are subject to the Dutch Corporate Governance Code, which applies to all Dutch companies listed on a government-recognized
stock exchange, whether in the Netherlands or elsewhere, including the NYSE and Euronext Paris. The Dutch Corporate Governance Code contains principles and best practice provisions for boards of directors, shareholders and general meetings of
shareholders, financial reporting, auditors, disclosure, compliance and enforcement standards. The Dutch Corporate Governance Code is based on a &#147;comply or explain&#148; principle. Accordingly, companies are required to disclose in their annual
reports, filed in the Netherlands, whether they comply with the provisions of the Dutch Corporate Governance Code and, if they do not comply with those provisions, to give the reasons for such noncompliance. The principles and best practice
provisions apply to the board (relating to, among other matters, the board&#146;s role and composition, conflicts of interest and independence requirements, board committees and remuneration), shareholders and the general meeting of shareholders
(for example, regarding anti-takeover protection and obligations of a company to provide information to its shareholders), and financial reporting (such as external auditor and internal audit requirements). We have decided not to comply with a
number of the provisions of the Dutch Corporate Governance Code because such provisions conflict, in whole or in part, with the corporate governance rules of NYSE and U.S. securities laws that apply to our company whose ordinary shares are traded on
the NYSE, or because such provisions do not reflect best practices of global companies listed on the NYSE. This may affect your rights as a shareholder and you may not have the same level of protection as a shareholder in a Dutch company that fully
complies with the Dutch Corporate Governance Code. See &#147;Item 16G. Corporate Governance&#151;Dutch Corporate Governance Code.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The market price of our ordinary shares may fluctuate significantly, and you could lose all or part of your investment. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The market price of our ordinary shares may be influenced by many factors, some of which are beyond our control and could result in significant
fluctuations, including: (i)&nbsp;the failure of financial analysts to cover our ordinary shares, changes in financial estimates by analysts or any failure by us to meet or exceed any of these estimates; (ii)&nbsp;actual or anticipated variations in
our operating results; (iii)&nbsp;announcements by us or our </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-22- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
competitors of significant contracts or acquisitions; (iv)&nbsp;the recruitment or departure of key personnel; (v)&nbsp;regulatory and litigation developments; (vi)&nbsp;developments in our
industry; (vii)&nbsp;future sales of our ordinary shares; and (viii)&nbsp;investor perceptions of us and the industries in which we operate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, the stock market in general has experienced substantial price and volume fluctuations that have often been unrelated or
disproportionate to the operating performance of particular companies affected. These broad market and industry factors may materially harm the market price of our ordinary shares, regardless of our operating performance. In the past, following
periods of volatility in the market price of certain companies&#146; securities, securities class action litigation has been instituted against these companies. If any such litigation is instituted against us, it could materially adversely affect
our business, results of operations and financial condition. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Our transformation into a public company may significantly increase
our operating costs and disrupt the regular operations of our business. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to our IPO in May 2013, our business historically
operated as a privately owned company, and therefore we have since incurred and expect to continue to incur significant additional legal, accounting, reporting and other expenses as a result of having publicly traded ordinary shares. We have
incurred and will continue to incur increased costs or costs that we have not incurred previously, including, but not limited to, costs and expenses for directors&#146; fees, directors and officers liability insurance, investor relations and various
other costs of a public company. The additional demands associated with being a public company may also disrupt the regular operations of our business by diverting the attention of our senior management team away from revenue producing activities to
management and administrative oversight, adversely affecting our ability to identify and complete business opportunities and increasing the difficulty we face in both retaining professionals and managing and growing our businesses. Any of these
effects could materially harm our business, results of operations and financial condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We also incur costs associated with corporate
governance requirements, including requirements under the Sarbanes-Oxley Act of 2002, as amended, as well as rules implemented by the SEC and the NYSE. We expect these rules and regulations to increase our legal and financial compliance costs and
make some management and corporate governance activities more time-consuming and costly. For example, these rules and regulations may make it more difficult and more expensive for us to obtain director and officer liability insurance, and we may be
required to accept reduced policy limits and coverage or incur substantially higher costs to obtain the same or similar coverage. This could have a material adverse impact on our ability to recruit and bring on qualified independent directors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Sales of substantial amounts of our ordinary shares in the public market, or the perception that these sales may occur, could cause the
market price of our ordinary shares to decline. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Sales of substantial amounts of our ordinary shares in the public market, or the
perception that these sales may occur, could cause the market price of our ordinary shares to decline. This could also impair our ability to raise additional capital through the sale of our equity securities. In addition, the sale of our ordinary
shares by our officers and directors in the public market, or the perception that such sales may occur, could cause the market price of our ordinary shares to decline. Prior to the completion of our IPO, we amended our memorandum and articles of
association (the &#147;Amended and Restated Articles of Association&#148;) to provide authorization to issue up to 398,500,000 Class&nbsp;A ordinary shares and 1,500,000 Class B ordinary shares. A total of 104,918,946 Class&nbsp;A ordinary shares
and 108,109 Class B ordinary shares are outstanding as of December&nbsp;31, 2014. We may issue ordinary shares or other securities from time to time as consideration for, or to finance, future acquisitions and investments or for other capital needs.
We cannot predict the size of future issuances of our shares or the effect, if any, that future sales and issuances of shares would have on the market price of our ordinary shares. If any such acquisition or investment is significant, the number of
ordinary shares or the number or aggregate principal amount, as the case may be, of other securities that we may issue may in turn be substantial and may result in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-23- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
additional dilution to our shareholders. We may also grant registration rights covering ordinary shares or other securities that we may issue in connection with any such acquisitions and
investments. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Any shareholder acquiring 30% or more of our voting rights may be required to make a mandatory takeover bid or be
subject to voting restrictions. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under Dutch law, if a party directly or indirectly acquires control of a Dutch company, all or
part of whose shares are admitted to trading on a regulated market, that party may be required to make a public offer for all other shares of the company (mandatory takeover bid). &#147;Control&#148; is defined as the ability to exercise, whether or
not in concert with others, at least 30% of the voting rights at a general meeting of shareholders. Controlling shareholders existing before an offering are generally exempt from this requirement, unless their controlling interest drops below 30%
and then increases again to 30% or more. The purpose of this requirement is to protect the interests of minority shareholders. Any shareholder acquiring 30% or more of our voting rights may be limited in its ability to vote on our ordinary shares.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Provisions of our organizational documents and applicable law may impede or discourage a takeover, which could deprive our
investors of the opportunity to receive a premium for their ordinary shares or to make changes in our board of directors. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Several
provisions of our Amended and Restated Articles of Association and the laws of the Netherlands could make it difficult for our shareholders to change the composition of our board of directors, thereby preventing them from changing the composition of
our management. In addition, the same provisions may discourage, delay or prevent a merger, consolidation or acquisition that shareholders may consider favorable. Provisions of our Amended and Restated Articles of Association impose various
procedural and other requirements, which could make it more difficult for shareholders to effect certain corporate actions. These anti-takeover provisions could substantially impede the ability of our shareholders to benefit from a change in control
and, as a result, may materially adversely affect the market price of our ordinary shares and your ability to realize any potential change of control premium. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our general meeting of shareholders has empowered our board of directors to issue shares and restrict or exclude preemptive rights on those
shares for a period of five years. Accordingly, an issue of new shares may make it more difficult for a shareholder to obtain control over our general meeting of shareholders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, because certain of our products may have applications in the defense sector, we may be subject to rules and regulations in France
and other jurisdictions that could impede or discourage a takeover or other change in control of Constellium or its subsidiaries. In particular, Constellium supplies aluminium alloy products, such as plates, sheets, profiles, tubes and castings, and
related services and R&amp;D activities in connection with aerospace and defense programs in France. As a result, a controlling investment in Constellium or certain of its French subsidiaries, or the purchase of assets constituting a business that
produces products or provides services with applications in the defense sector, by a company or individual that is considered to be foreign or non-resident in France may be subject to the French Monetary and Financial Code, which requires prior
authorization of the French Ministry of Economy. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>United States civil liabilities may not be enforceable against us. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are incorporated under the laws of the Netherlands and substantial portions of our assets are located outside of the United States. In
addition, certain directors, officers and experts named herein reside outside the United States. As a result, it may be difficult for investors to effect service of process within the United States upon us or such other persons residing outside the
United States, or to enforce outside the United States judgments obtained against such persons in U.S. courts in any action, including actions predicated upon the civil liability provisions of the U.S. federal securities laws. In addition, it may be
difficult for investors to enforce, in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-24- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
original actions brought in courts in jurisdictions located outside the United States, rights predicated upon the U.S. federal securities laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There is no treaty between the United States and the Netherlands for the mutual recognition and enforcement of judgments (other than
arbitration awards) in civil and commercial matters. Therefore, a final judgment for the payment of money rendered by any federal or state court in the United States based on civil liability, whether or not predicated solely upon the U.S. federal
securities laws, would not be enforceable in the Netherlands unless the underlying claim is re-litigated before a Dutch court. However, under current practice, the courts of the Netherlands may be expected to render a judgment in accordance with the
judgment of the relevant United States court, provided that such judgment (i)&nbsp;is a final judgment and has been rendered by a court which has established its jurisdiction on the basis of internationally accepted grounds of jurisdictions,
(ii)&nbsp;has not been rendered in violation of elementary principles of fair trial, (iii)&nbsp;is not incompatible with (a)&nbsp;a prior judgment of a Netherlands court rendered in a dispute between the same parties, or (b)&nbsp;a prior judgment of
a foreign court rendered in a dispute between the same parties, concerning the same subject matter and based on the same cause of action, provided that such prior judgment is not capable of being recognized in the Netherlands. It is uncertain
whether this practice extends to default judgments as well. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based on the foregoing, there can be no assurance that U.S. investors will be
able to enforce against us or members of our board of directors, officers or certain experts named herein who are residents of the Netherlands or countries other than the United States any judgments obtained in U.S. courts in civil and commercial
matters, including judgments under the U.S. federal securities laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, there is doubt as to whether a Dutch court would impose
civil liability on us, the members of our board of directors, our officers or certain experts named herein in an original action predicated solely upon the U.S. federal securities laws brought in a court of competent jurisdiction in the Netherlands
against us or such members, officers or experts, respectively. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The rights of our shareholders may be different from the rights of
shareholders governed by the laws of U.S. jurisdictions. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our corporate affairs are governed by our Amended and Restated Articles
of Association and by the laws governing companies incorporated in the Netherlands. The rights of shareholders and the responsibilities of members of our board of directors may be different from the rights and obligations of shareholders in
companies governed by the laws of U.S. jurisdictions. In the performance of its duties, our board of directors is required by Dutch law to consider the interests of our company, its shareholders, its employees and other stakeholders, in all cases
with due observation of the principles of reasonableness and fairness. It is possible that some of these parties will have interests that are different from, or in addition to, your interests as a shareholder. See &#147;Item&nbsp;16G. Corporate
Governance&#151;Dutch Corporate Governance Code.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>Although shareholders have the right to approve legal mergers or demergers,
Dutch law does not grant appraisal rights to a company&#146;s shareholders who wish to challenge the consideration to be paid upon a legal merger or demerger of a company. In addition, if a third party is liable to a Dutch company, under Dutch law
shareholders generally do not have the right to bring an action on behalf of the company or to bring an action on their own behalf to recover damages sustained as a result of a decrease in value, or loss of an increase in value, of their stock. Only
in the event that the cause of liability of such third party to the company also constitutes a tortious act directly against such stockholder and the damages sustained are permanent, may that stockholder have an individual right of action against
such third party on its own behalf to recover damages. The Dutch Civil Code provides for the possibility to initiate such actions collectively. A foundation or an association whose objective, as stated in its articles of association, is to protect
the rights of persons having similar interests, may<I> </I>institute a collective action. The collective action cannot result in an order for payment of monetary damages but may result in a declaratory judgment (<I>verklaring voor recht</I>), for
example, declaring that a party has acted wrongfully or has breached a fiduciary duty. The foundation or association and the defendant are permitted to<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-25- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>
</I>reach (often on the basis of such declaratory judgment) a settlement that provides for monetary compensation for damages. A designated Dutch court may declare the settlement agreement binding
upon all the injured parties with an opt-out choice for an individual injured party. An individual injured party, within the period set by the court, may also individually institute a civil claim for damages if such injured party is not bound by a
collective agreement.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The provisions of Dutch corporate law and our Amended and Restated Articles of Association have the effect
of concentrating control over certain corporate decisions and transactions in the hands of our board of directors. As a result, holders of our shares may have more difficulty in protecting their interests in the face of actions by members of the
board of directors than if we were incorporated in the United States. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Exchange rate fluctuations may adversely affect the foreign
currency value of the ordinary shares and any dividends. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The ordinary shares are quoted in U.S. dollars on the NYSE and in euros
on Euronext Paris. Our financial statements are prepared in euros. Fluctuations in the exchange rate between euros and the U.S. dollar will affect, among other matters, the U.S. dollar value and the euro value of the ordinary shares and of any
dividends. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>If securities or industry analysts do not publish research or reports or publish unfavorable research about our
business, our stock price and trading volume could decline. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The trading market for our ordinary shares depends in part on the
research and reports that securities or industry analysts publish about us, our business or our industry. We may have limited, and may never obtain significant, research coverage by securities and industry analysts. If no additional securities or
industry analysts commence coverage of our company, the trading price for our shares could be negatively affected. In the event we obtain additional securities or industry analyst coverage, if one or more of the analysts who covers us downgrades our
stock, our share price will likely decline. If one or more of these analysts, or those who currently cover us, ceases to cover us or fails to publish regular reports on us, interest in the purchase of our shares could decrease, which could cause our
stock price or trading volume to decline. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We may be classified as a passive foreign investment company for U.S. federal income tax
purposes, which could subject U.S. investors in our ordinary shares to significant adverse U.S. federal income tax consequences. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A
foreign corporation will be a passive foreign investment company for U.S. federal income tax purposes (a &#147;PFIC&#148;) in any taxable year in which, after taking into account the income and assets of the corporation and certain subsidiaries
pursuant to applicable &#147;look-through rules,&#148; either (i)&nbsp;at least 75% of its gross income is &#147;passive income,&#148; or (ii)&nbsp;at least 50% of its assets produce or are held for the production of &#147;passive income.&#148; For
this purpose, &#147;passive income&#148; generally includes dividends, interest, royalties and rents and certain other categories of income, subject to certain exceptions. We believe that we will not be a PFIC for the current taxable year and that
we have not been a PFIC for prior taxable years and we expect that we will not become a PFIC in the foreseeable future, although there can be no assurance in this regard. The determination of whether we are a PFIC is a fact-intensive determination
that includes ascertaining the fair market value (or, in certain circumstances, tax basis) of all of our assets on a quarterly basis and the character of each item of income we earn. This determination is made annually and cannot be completed until
the close of a taxable year. It depends upon the portion of our assets (including goodwill) and income characterized as passive under the PFIC rules. Accordingly, it is possible that we may become a PFIC due to changes in our income or asset
composition or a decline in the market value of our equity. Because PFIC status is a fact-intensive determination, no assurance can be given that we are not, have not been, or will not become, classified as a PFIC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we were to be classified as a PFIC in any taxable year, U.S. Holders (as defined in &#147;Item 10. Additional information&#151;E. Material
U.S. Federal Income Tax Consequences&#148;) generally would be subject to special tax </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-26- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
rules that could result in materially adverse U.S. federal income tax consequences. Further, prospective investors should assume that a &#147;qualified electing fund&#148; election, which, if
made, could serve as an alternative to the general PFIC rules and could reduce any adverse consequences to U.S. Holders if we were to be classified as a PFIC, will not be available because we do not intend to provide U.S. Holders with the
information needed to make such an election. A mark-to-market election may be available, however, if our ordinary shares are regularly traded. For more information, see &#147;Item 10. Additional information&#151;E. Material U.S. Federal Income Tax
Consequences&#151;Passive Foreign Investment Company Consequences&#148; and consult your tax advisor concerning the U.S. federal income tax consequences of acquiring, owning or disposing of our ordinary shares if we are or become classified as a
PFIC. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Risks Relating to the Wise Acquisition </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We may fail to achieve the estimated synergies and other expected benefits of the Wise Acquisition and/or to integrate Wise successfully.
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may be unable to achieve the strategic, operational, financial and other benefits, and/or the resulting estimated synergies,
contemplated with respect to the Wise Acquisition to the full extent expected or in a timely manner. The integration of Wise into our operations will be a complex and lengthy endeavor, and to the extent that we are not as successful as expected in
integrating Wise, the cost savings, synergies, accretion to earnings, increased shipments and other anticipated benefits and opportunities from the Wise Acquisition may not be fully realized or may take longer to realize than expected. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The process of integrating Wise into our operations will be time-consuming and expensive and may disrupt the business of the combined company.
Difficulties, costs and delays could be encountered with respect to: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Combining the companies&#146; operations and systems, which could lead to the combined company not achieving the synergies we anticipate; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The diversion of management&#146;s attention from ongoing business concerns and other strategic opportunities; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The retention of key employees and management; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Disruptions and uncertainty surrounding our relationships with customers and suppliers; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The implementation of disclosure controls, internal controls and financial reporting systems at Wise to enable the combined company to comply with the requirements of IFRS and U.S. securities laws and regulations
required as a result of the combined company&#146;s status as a reporting company under the Exchange Act; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The coordination of geographically separate organizations; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Possible tax costs or inefficiencies associated with integrating the operations of the combined company; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Wise&#146;s existing indebtedness that restrict transactions with affiliates (including transactions between Constellium and Wise following the consummation of the Wise Acquisition) or require that such transactions be
on arm&#146;s-length terms. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>We may experience or be exposed to unknown or unanticipated issues, expenses, and
liabilities as a result of the Wise Acquisition. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As a result of the Wise Acquisition, we may be exposed to unknown or
unanticipated costs or liabilities, such as undisclosed liabilities of Wise, including those relating to environmental matters, for which we, as successor owner, may be responsible. Such unknown or unanticipated issues, expenses, and liabilities
could have an adverse effect on our business, financial results and cash flows. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-27- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>As a result of the Wise Acquisition, we may not be able to retain key personnel or recruit
additional qualified personnel and may experience disruptions and uncertainty surrounding our relationships with existing and future customers and suppliers. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are highly dependent on the continuing efforts of our senior management team and other key personnel. As a result of the Wise Acquisition,
our current and prospective employees, including Wise employees, could experience uncertainty about their future roles and relationships with Constellium and Wise. This uncertainty may adversely affect our ability to attract and retain current and
prospective key management, sales, marketing and technical personnel, and may cause disruptions in our relationships with existing and future customers and suppliers. Any failure to attract and retain key personnel, including Wise employees, or
disruption in our relationships with customers and suppliers, including customers and suppliers of Wise, could have a material adverse effect on our business after consummation of the Wise Acquisition. We do not maintain &#147;key person&#148;
insurance covering any member of our management team. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The consummation of the Wise Acquisition could also cause disruptions in and create
uncertainty surrounding our and Wise&#146;s relationships with existing and future customers and suppliers. Such customers and suppliers may, in response to the consummation of the Wise Acquisition, delay or defer contracting decisions, or may not
remain as customers and suppliers following the completion of the Wise Acquisition. Change of control provisions in certain of Wise&#146;s contracts may have given customers the right to terminate or change the terms of those contracts as a result
of the Wise Acquisition. The loss of significant customers or suppliers could have a material and adverse effect on our business prospects, results of operations and financial condition. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>The beverage can sheet industry is competitive, and Wise&#146;s competitors have greater resources and product and geographic diversity
than Wise does. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The market for beverage can sheet products is competitive. Wise&#146;s competitors have market presence, operating
capabilities and financial and other resources that are greater than those of Wise. They also have greater product and geographic diversity than Wise. Because of their greater resources and product and geographic diversity, these competitors may
have an advantage over Wise in their abilities to research and develop technology, pursue acquisition, investment and other business opportunities, market and sell their products and services, capitalize on market opportunities, enter new markets
and withstand business interruptions or adverse global economic conditions. There are no assurances that we will be able to compete successfully in these circumstances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, Wise is subject to competition from non-aluminium sources of packaging, such as plastics and glass. Consumer demand and
preferences also impact customer selection of packaging materials. While we believe that the recyclability of aluminium, coupled with increasing consumer focus on resource conservation, may reduce the impact of competition from certain alternative
packaging sources, there is no guaranty that such competition will be reduced. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_6"></A>Item&nbsp;4. Information on
the Company </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. History and Development of the Company </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium Holdco B.V. (formerly known as Omega Holdco B.V.) was incorporated as a Dutch private limited liability company on May&nbsp;14,
2010. Constellium Holdco B.V. was formed to serve as the holding company for various entities comprising the Alcan Engineered Aluminum Products business unit (the &#147;AEP Business&#148;), which Constellium acquired from affiliates of Rio Tinto on
January&nbsp;4, 2011 (the &#147;Acquisition&#148;). On May&nbsp;21, 2013, Constellium Holdco B.V. was converted into a Dutch public limited liability company and renamed Constellium N.V. Any references to Dutch law and the Amended and Restated
Articles of Association are references to Dutch law and the articles of association of the Company as applicable following the conversion. On May&nbsp;29, 2013, we completed our initial public offering. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-28- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The business address (head office) of Constellium N.V. is Tupolevlaan 41-61, 1119 NW
Schiphol-Rijk, the Netherlands, and our telephone number is +31 20 654 97 80. The address for our agent for service of process in the United States is Corporation Service Company, 80 State Street, Albany, NY 12207-2543, and its telephone number is
(518)&nbsp;433-4740. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Business Overview </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The Company </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Overview </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are a global leader in the design and manufacture of a broad range of innovative specialty rolled and extruded aluminium products, serving
primarily the aerospace, packaging and automotive end-markets. We have a strategic footprint of manufacturing facilities located in the United States, Europe and China. Our business model is to add value by converting aluminium into semi-fabricated
products. We believe we are the supplier of choice to numerous blue-chip customers for many value-added products with performance-critical applications. Our product portfolio commands higher margins as compared to less differentiated, more
commoditized fabricated aluminium products, such as common alloy coils, paintstock, foilstock and soft alloys for construction and distribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, we operated 22 production facilities, 10 administrative and commercial sites, one R&amp;D center and are
building one new facility in our joint venture with UACJ in Bowling Green, USA. We have approximately 8,900 employees. We believe our portfolio of flexible and integrated facilities is among the most technologically advanced in the industry. It is
our view that our established presence in the United States and Europe and our presence in China strategically position us to service our global customer base. We believe our well-invested facilities combined with more than 50 years of manufacturing
experience, quality and innovation and pre-eminent R&amp;D capabilities have put us in a leadership position in our core markets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We seek
to sell to end-markets that have attractive characteristics for aluminium, including (i)&nbsp;higher margin products, (ii)&nbsp;stability through economic cycles, and (iii)&nbsp;favorable growth fundamentals supported by customer order backlogs in
aerospace and substitution trends in automotive and European can sheet. As of 2014, we are the leading global supplier of aluminium aerospace plates, believe that we are the second largest provider of aluminium automotive structures globally, and a
leading European supplier of can body stock. Our unique platform has enabled us to develop a stable and diversified customer base and to enjoy long-standing relationships with our largest customers. Our relationships with our top 20 customers
average over 25 years. Our customer base includes market leading firms in aerospace, automotive, and packaging, such as Airbus, Boeing, Rexam PLC (&#147;Rexam&#148;), Ball Corporation, Crown Holdings, Inc. and several premium automotive original
equipment manufacturers (&#147;OEMs&#148;), including BMW AG, Mercedes-Benz and Volkswagen AG. We believe that we are a &#147;mission critical&#148; supplier to many of our customers due to our technological and R&amp;D capabilities as well as the
long and complex qualification process required for many of our products. Our core products require close collaboration and, in many instances, joint development with our customers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our business also features relatively countercyclical cash flows. During an economic downturn, lower demand causes our sales volumes to
decrease, which results in a corresponding reduction in our inventory levels, a reduction in our working capital requirements and a positive impact on our operating cash flows. We believe this helps to drive robust free cash flow across cycles and
provides significant downside protection for our liquidity position in the event of a downturn. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For the years ended December&nbsp;31,
2014, 2013 and 2012, we shipped approximately 1,062kt, 1,025kt and 1,033&nbsp;kt of finished products, generated revenues of &#128;3,666&nbsp;million, &#128;3,495 million and &#128;3,610&nbsp;million, generated net income of &#128;54 million,
&#128;100 million and &#128;141&nbsp;million, respectively, and generated Adjusted EBITDA of &#128;275&nbsp;million, &#128;280&nbsp;million and &#128;223&nbsp;million, respectively. The financial performance for the year ended December&nbsp;31, 2014
represented a 4% increase in shipments, a 5% increase in revenues and a 2% </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-29- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
decrease in Adjusted EBITDA from the prior year. Please see the reconciliation of Adjusted EBITDA in &#147;Item 5. Operating and Financial Review and Prospects&#150;Segment Results.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our objective is to expand our leading position as a supplier of high value-added, technologically advanced products in which we believe that
we have a competitive advantage through the following business strategies: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Continue to target investment in high-return opportunities in our core markets (aerospace, packaging and automotive), with the goal of driving growth and profitability. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Focus on higher margin, technologically advanced products that facilitate long-term relationships as a &#147;mission critical&#148; supplier to our customers. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Continue to differentiate our products, with the goal of maintaining our leading market positions and remaining a supplier of choice to our customers. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Build a global footprint with a focus on gaining scale in Europe and the United States as well as expanding in Asia. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Establish best-in-class operations through Lean manufacturing. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Recent Developments </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;3, 2014, we announced that Constellium had signed an agreement (the &#147;Unit Purchase Agreement&#148;) to acquire (the
&#147;Wise Acquisition&#148;) from Wise Metals Holdings LLC (the &#147;Seller&#148;) all of the issued and outstanding membership interests of Wise Metals Intermediate Holdings LLC (&#147;Wise&#148;). Wise is a major producer of aluminium beverage
can sheet in North America, serving some of the largest brewers and soft drink bottlers in North America and shipping to the largest North American can manufacturers. Its business strategy seeks to capitalize on its technologically-advanced,
low-cost and efficient five million square foot facility in Muscle Shoals, Alabama, which is one of only five beverage can sheet facilities in North America. Wise currently has an estimated 530 kt of annual aluminium sheet capacity based on its
current product mix and specifications. The Wise Acquisition closed on January&nbsp;5, 2015. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the year ended December&nbsp;31,
2014, Wise shipped 392 kt of beverage can sheet and trailer roof coil to its customers and generated net sales of $1,322 million. Had the acquisition of Wise taken place as of January&nbsp;1, 2014, our revenues and shipments for the year ended
December&nbsp;31, 2014 would have been &#128;4,663&nbsp;million and 1,454 kt, respectively on a combined basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In April 2015, the
Company announced its decision to build a second Body-in-White finishing line in North America to further support the growing demand for aluminium from the U.S. automotive industry. The investment is expected to reach $160 million and is part of our
anticipated $750 million strategic investment plan to increase Constellium&#146;s BiW production capacity by 2022. The location of the 100,000 metric tons BiW finishing line which is due to start production in early 2018 has not yet been decided and
will be announced in due course, pending final business considerations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-30- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Table: Overview of Operating Segments (as of December&nbsp;31, 2014) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="25%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><I>Aerospace &amp;</I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><I>Transportation</I></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><I>Packaging &amp; Automotive</I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><I>Rolled Products</I></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><I>Automotive Structures &amp;</I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B><I>Industry</I></B></P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><I>Commercial and Manufacturing Sites</I></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;12 (France, United States, Switzerland, Italy, China, Japan, South Korea, Singapore)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;3 (France, Germany, Switzerland)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;15 (France, Germany, Switzerland, Czech Republic, Slovakia, United States, China)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><I>Employees (as of December 31, 2014)</I></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;3,681</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;1,978</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;2,494</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><I>Key products</I></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Aerospace plates and sheets</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Aerospace
wingskins</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Plates for general engineering</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Sheets for
transportation applications</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Can Body Stock</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Can End Stock</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Closure Stock</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Auto Body Sheet</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Heat Exchangers</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Specialty
reflective sheet (Bright)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Extruded products including:</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Soft alloys</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Hard alloys</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:3.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Large profiles</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:3.00em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Automotive
structures</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><I>Key customers</I></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;<B>Aerospace:</B> Airbus, Boeing, Embraer, Dassault, Bombardier,
Lockheed Martin</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;<B>Transportation, Industry and Defense:</B> Ryerson, ThyssenKrupp, FreightCar America,
Amari</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;<B>Packaging:</B> Rexam, Can-Pack, Ball, Crown, Amcor, Ardagh Group,
Thyssen</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;<B>Automotive:</B> Daimler, Audi, Volkswagen, Valeo, Peugeot S.A.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;<B>Automotive:</B> Audi, BMW Group, Daimler, Porsche, General Motors,
Ford, Benteler, Peugeot S.A., Chrysler, Fiat, JLR, Opel</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;<B>Rail:</B> Stadler, CAF</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B><I>Key facilities</I></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Ravenswood (USA)</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Issoire (FR)</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Sierre
(CH)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Neuf-Brisach (FR)</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Singen
(DE)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;D&#283;&#269;&iacute;n (CZ)</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Levice (SK)</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.50em; text-indent:-1.50em; font-size:10pt; font-family:Times New Roman">&#149;&nbsp;&nbsp;&nbsp;&nbsp;Gottmadingen<BR>(DE)</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-31- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Our Operating Segments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our business is organized into three operating segments: (i)&nbsp;Aerospace&nbsp;&amp; Transportation, (ii)&nbsp;Packaging&nbsp;&amp;
Automotive Rolled Products, and (iii)&nbsp;Automotive Structures&nbsp;&amp; Industry. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="64%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Operating</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:29.30pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Segment</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:30.65pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Products</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Description</B></P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace&nbsp;&amp; Transportation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Rolled Products</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Includes the production of rolled aluminium products for the aerospace market, as well as rolled products for transport, industry and defense end-uses. We produce aluminium plate, sheet and fabricated products in our European and
North American facilities. Substantially all of these aluminium products are manufactured to specific customer requirements using direct-chill ingot cast technologies that allow us to use and offer a variety of alloys and products.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Packaging&nbsp;&amp; Automotive Rolled Products</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Rolled Products</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Includes the production of rolled aluminium products in our French and German facilities. We supply the packaging market with can stock and closure stock for the beverage and food industry, as well as foil stock for the flexible
packaging market. In addition we supply products for a number of technically sophisticated applications such as automotive sheet, heat exchangers, and sheet and coils for the building and constructions markets.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures&nbsp;&amp; Industry</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Extrusions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Includes the production of hard and soft aluminium alloy extruded profiles in Germany, France, the Czech Republic and Slovakia. Our extruded products are targeted at high demand end-uses in the automotive, engineering, building and
construction and other transportation markets (rail and shipbuilding). In addition, we fabricate highly advanced crash-management systems in Germany, the United States and China.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following charts present our revenues by operating segment and geography for the year ended December&nbsp;31, 2014: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g90p95.jpg" ALT="LOGO">
 </P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD ALIGN="left" VALIGN="top"><SUP STYLE="font-size:85%; vertical-align:top"></SUP>Revenue by geographic zone is based on the destination of the shipment </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Aerospace&nbsp;&amp; Transportation Operating Segment </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Aerospace&nbsp;&amp; Transportation operating segment has market leadership positions in technologically advanced aluminium and specialty
materials products with wide applications across the global aerospace, defense, transportation, and industrial sectors. We offer a wide range of products including plate, sheet, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-32- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
extrusions and precision casting products which allows us to offer tailored solutions to our customers. We seek to differentiate our products and act as a key partner to our customers through our
broad product range, advanced R&amp;D capabilities, extensive recycling capabilities and portfolio of plants with an extensive range of capabilities across Europe and North America. In order to reinforce the competitiveness of our metal solutions,
we design our processes and alloys with a view to optimizing our customers&#146; operations and costs. This includes offering services such as customizing alloys to our customers&#146; processing requirements, processing short lead time orders and
providing vendor managed inventories or tolling arrangements. The Aerospace&nbsp;&amp; Transportation operating segment accounted for 32% of our revenues and 33% of Adjusted EBITDA for the year ended December&nbsp;31, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Seven of our manufacturing facilities produce products that are sold via our Aerospace&nbsp;&amp; Transportation operating segment. Our
aerospace plate manufacturing facilities in Ravenswood (West Virginia, United States), Issoire (France) and Sierre (Switzerland) offer the full spectrum of plate required by the aerospace industries (alloys, temper, dimensions, pre-machined) and
have unique capabilities such as producing some wide and very high gauge plates required for some aerospace programs (civil and commercial). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Downstream aluminium products for the aerospace market require relatively high levels of R&amp;D investment and advanced technological
capabilities, and therefore tend to command higher margins compared to more commoditized products. We work in close collaboration with our customers to develop highly engineered solutions to fulfill their specific requirements. For example, we
developed AIRWARE<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>, a lightweight specialty aluminium-lithium alloy, for our aerospace customers to address increasing demand for lighter and more environmentally sound aircraft. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Aerospace products are typically subject to long development and supply lead times and the majority of our contracts with our largest
aerospace customers have a term of five years or longer, which provides excellent volume and profitability visibility. In addition, demand for our aerospace products typically correlates directly with aircraft backlogs and build rates. As of
December 2014, the backlog reported by Airbus and Boeing for commercial aircraft reached 12,175 units on a combined basis, representing approximately 9 years of production at the current build rates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Additionally, aerospace products are generally subject to long qualification periods. Aerospace production sites are regularly audited by
external certification organizations including the National Aerospace and Defense Contractors Accreditation Program (&#147;NADCAP&#148;) and/or the International Organization for Standardization. NADCAP is a cooperative organization of numerous
aerospace OEMs that defines industry-wide manufacturing standards. NADCAP appoints private auditors who grant suppliers like Constellium a NADCAP certification, which customers tend to require. New products or alloys are certified by the OEM that
uses the product. Our sites have been qualified by external certification organizations and our products have been qualified by our customers. We are typically able to obtain qualification within 6 months to one year. We believe we are able to
obtain such qualifications within that time frame for two main reasons. First, some new product qualifications depend on having older qualifications regarding their alloy, temper or shape which we have already obtained through our long history of
working with the main aircraft OEMs. This range of qualifications includes in excess of 100 specifications, some of which we obtained during programs dating back to the 1960s. Second, over the course of the decades that we have been working with the
aerospace OEMs, we have invested in a number of capital intensive equipment and R&amp;D programs to be able to qualify to the current industry norms and standards. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-33- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table summarizes our volume, revenues and Adjusted EBITDA for our
Aerospace&nbsp;&amp; Transportation operating segment for the periods presented: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:144.00pt; font-size:9pt; font-family:Times New Roman"><B>(&#128; in millions, unless otherwise noted)</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2014&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2013&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2012&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Aerospace &amp; Transportation:</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Revenues</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,192</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,197</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Shipments (kt)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">238</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">244</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">224</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Revenues (&#128;/ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,008</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,906</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA(&#128;/ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">380</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">491</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA margin</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Adjusted EBITDA is not a measure defined under IFRS. Adjusted EBITDA is defined and discussed in &#147;Item 5. Operating and Financial Review and Prospects&#151;Segment Results.&#148; </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Packaging&nbsp;&amp; Automotive Rolled Products Operating Segment </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In our Packaging&nbsp;&amp; Automotive Rolled Products operating segment, we produce and develop customized aluminium sheet and coil solutions.
Approximately 80% of operating segment volume for the year ended December&nbsp;31, 2014 was in packaging rolled products, which primarily include beverage and food can stock as well as closure stock and foil stock. Twenty percent of operating
segment volume for that period was in automotive and specialty and other thin-rolled products, which include technologically advanced products for the automotive and industrial sectors. Our Packaging&nbsp;&amp; Automotive Rolled Products operating
segment accounted for 43% of revenues and 43% of Adjusted EBITDA for the year ended December&nbsp;31, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December 2014, we are
the leading European supplier of can body stock and the leading worldwide supplier of closure stock. We are also a major European player in automotive rolled products for Auto Body Sheet (the structural framework of a car), and heat exchangers. We
have a diverse customer base, consisting of many of the world&#146;s largest beverage and food can manufacturers, specialty packaging producers, leading automotive firms and global industrial companies. Our customer base includes Rexam, Audi AG,
Daimler AG, Peugeot S.A., Ball Corporation, Can-Pack S.A., Crown Holdings, Inc., Alanod GmbH&nbsp;&amp; Co. KG, Ardagh Group S.A., Amcor Ltd. and ThyssenKrupp AG. Our automotive contracts are usually valid for the lifetime of a model, which is
typically six to seven years. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have two integrated rolling operations located in Europe&#146;s industrial heartland. Neuf-Brisach, our
facility on the border of France and Germany, is, in our view, a uniquely integrated aluminium rolling and finishing facility. Singen, located in Germany, is specialized in high-margin niche applications and has an integrated hot/cold rolling line
and high-grade cold mills with special surfaces capabilities that facilitate unique metallurgy and lower production costs. We believe Singen has enhanced our reputation in many product areas, most notably in the area of functional high-gloss
surfaces for the automotive, lighting, solar and cosmetic industries, other decorative applications, closure stock, paintstock and foilstock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Packaging&nbsp;&amp; Automotive Rolled Products operating segment has historically been relatively resilient during periods of economic
downturn and has had relatively limited exposure to economic cycles and periods of financial instability. According to CRU International Limited (&#147;CRU&#148;), during the 2008-2009 economic crisis, can stock volumes decreased by 10% in 2009
versus 2007 levels as compared to a 24% decline for flat rolled </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-34- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
aluminium products volumes in aggregate during the same period. This demonstrates that demand for beverage cans tends to be less correlated with general economic cycles. In addition, we believe
European can body stock has an attractive long-term growth outlook due to the following trends: (i)&nbsp;end-market growth in beer, soft drinks and energy drinks, (ii)&nbsp;increasing use of cans versus glass in the beer market,
(iii)&nbsp;increasing use of aluminium in can body stock in the European market, at the expense of steel, and (iv)&nbsp;increasing consumption in Eastern Europe linked to purchasing power growth. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table summarizes our volume, revenues and Adjusted EBITDA for our Packaging&nbsp;&amp; Automotive Rolled Products operating
segment for the periods presented: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:144.00pt; font-size:9pt; font-family:Times New Roman"><B>(&#128; in millions, unless otherwise noted)</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2014&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2013&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2012&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Packaging &amp; Automotive Rolled Products:</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Revenues</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,568</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,554</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Shipments (kt)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">620</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">595</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">606</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Revenues (&#128;/ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,529</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,474</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,564</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA(&#128;/ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">190</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">176</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA margin</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Adjusted EBITDA is not a measure defined under IFRS. Adjusted EBITDA is defined and discussed in &#147;Item 5. Operating and Financial Review and Prospects&#151;Segment Results.&#148; </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Automotive Structures&nbsp;&amp; Industry Operating Segment </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Automotive Structures&nbsp;&amp; Industry operating segment produces (i)&nbsp;technologically advanced structures for the automotive
industry including crash management systems (CMS), side impact beams, body structures and cockpit carriers and (ii)&nbsp;soft and hard alloy extrusions and large profiles for automotive, rail, road, energy, building and industrial applications. We
complement our products with a comprehensive offering of downstream technology and services, which include pre-machining, surface treatment, R&amp;D and technical support services. Our Automotive Structures&nbsp;&amp; Industry operating segment
accounted for 24% of revenues and 27% of Adjusted EBITDA for the year ended December&nbsp;31, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe that we are the second
largest provider of aluminium automotive structures globally and the leading supplier of hard alloys and large structural profiles for rail, industrial and other transportation markets in Europe. We manufacture automotive structures products for
some of the largest European and North American car manufacturers supplying a global market, including Daimler AG, BMW AG, Audi AG, Chrysler Group LLC and Ford Motor Co. We also have a strong presence in soft alloys in France and Germany, with
customized solutions for a diversity of end-markets. We recently successfully expanded our Constellium Automotive USA, LLC plant, located in Michigan, which is producing highly innovative crash-management systems for the automotive market. We are
also operating a joint venture, Engley Automotive Structures Co., Ltd., which is currently producing aluminium crash-management systems in China. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In early 2014, we launched new aluminium high-strength (CMS) technology designed for the front and the rear of a vehicle for enhanced
structural protection in the event of a collision. Our innovative technology enables the production of aluminium CMS that are 15 percent lighter or 10 percent stronger than the current aluminium CMS on the market. The new-generation CMS combine the
properties of the 6xxx aluminium alloy family &#150; formability, corrosion resistance, energy absorption, recyclability &#150; with high-strength mechanical performance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Fifteen of our manufacturing and engineering facilities, located in Germany, the United States, the Czech Republic, Slovakia, France,
Switzerland and China, produce products sold in our Automotive Structures&nbsp;&amp; Industry operating segment. We believe our local presence, downstream services and industry leading cycle times help to ensure that we respond to our customer
demands in a timely and consistent fashion. Our two </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-35- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
integrated remelt and casting centers in Switzerland and the Czech Republic both provide security of metal supply and contribute to our recycling efforts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table summarizes our volume, revenues and Adjusted EBITDA for our Automotive Structures&nbsp;&amp; Industry operating segment
for the periods presented: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:144.00pt; font-size:9pt; font-family:Times New Roman"><B>(&#128; in millions, unless otherwise noted)</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2014&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2013&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;2012&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Automotive Structures &amp; Industry:</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Revenues</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">875</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">805</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">861</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Shipments (kt)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">208</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">191</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">206</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Revenues (&#128;/ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,207</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,215</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA(&#128;/ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">351</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">311</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">225</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Segment Adjusted EBITDA margin</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Adjusted EBITDA is not a measure defined under IFRS. Adjusted EBITDA is defined and discussed in &#147;Item 5. Operating and Financial Review and Prospects&#151;Segment Results.&#148; </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For information on the seasonality of our business, see &#147;Item 5. Operating and Financial Review and Prospects&#151;A. Key Factors
Influencing Constellium&#146;s Financial Conditions and Results of Operations&#151;Seasonality.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Our Industry </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Aluminium Sector Value Chain </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
global aluminium industry consists of (i)&nbsp;mining companies that produce bauxite, the ore from which aluminium is ultimately derived, (ii)&nbsp;primary aluminium producers that refine bauxite into alumina and smelt alumina into aluminium,
(iii)&nbsp;aluminium semi-fabricated products manufacturers, including aluminium casters, recyclers, extruders and flat rolled products producers, and (iv)&nbsp;integrated companies that are present across multiple stages of the aluminium production
chain. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The price of aluminium, quoted on the LME, is subject to global supply and demand dynamics and moves independently of the costs of
many of its inputs. Producers of primary aluminium have limited ability to manage the volatility of aluminium prices and can experience a high degree of volatility in their cash flows and profitability. We do not smelt aluminium, nor do we
participate in other upstream activities such as mining or refining bauxite. We recycle aluminium, both for our own use and as a service to our customers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Rolled and extruded aluminium product prices are generally based on the price of metal plus a conversion fee (i.e., the cost incurred to
convert the aluminium into its semi-finished product). The price of aluminium is not a significant driver of our financial performance, in contrast to the more direct relationship of the price of aluminium to the financial performance of primary
aluminium producers. Instead, the financial performance of producers of rolled and extruded aluminium products, such as Constellium, is driven by the dynamics in the end markets that they serve, their relative positioning in those markets and the
efficiency of their industrial operations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Aluminium Rolled Products Overview </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Aluminium rolled products, i.e., sheet, plate and foil, are semi-finished products that provide the raw material for the manufacture of
finished goods ranging from packaging to automotive body panels. The packaging industry is a major consumer of the majority of sheet and foil for making beverage cans, foil containers and foil wrapping. Sheet is also used extensively in transport
for airframes, road and rail vehicles, in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-36- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
marine applications, including offshore platforms, and superstructures and hulls of boats and in building for roofing and siding. Plate is used for airframes, military vehicles and bridges, ships
and other large vessels and as tooling plate for the production of plastic products. Foil applications outside packaging include electrical equipment, insulation for buildings, lithographic plate and foil for heat exchangers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Independent aluminium rolled products producers and integrated aluminium companies alike participate in this market. Our rolling process
consists of passing aluminium through a hot-rolling mill and then transferring it to a cold-rolling mill, which can gradually reduce the thickness of the metal down to approximately 0.2-6 mm for sheet or plates, which are thicker than 6 mm. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There are three sources of input metal for aluminium rolled or extruded products: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Primary aluminium, which is primarily in the form of standard ingot </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Sheet ingot or rolling slab </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Extrusion billets </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Recycled aluminium, which comes either from scrap from fabrication processes, known as recycled process material, or from recycled end products in their end of life phase, such as beverage cans. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We buy various types of metal, including primary metal from smelters in the form of ingots, rolling slabs or extrusion billets, remelted metal
from external casthouses (in addition to our own casthouses) in the form of rolling slabs or extrusion billets, production scrap from our customers, and end of life scrap. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Primary aluminium and sheet ingot can generally be purchased at prices set on the LME plus a premium that varies by geographic region on
delivery, alloying material, form (ingot or molten metal) and purity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Recycled aluminium is also an important source of input material
and is tied to the LME pricing (typically sold at discounts of up to 20%). Aluminium is indefinitely recyclable and recycling it requires only approximately 5% of the energy required to produce primary aluminium. As a result, in regions where
aluminium is widely used, manufacturers and customers are active in setting up collection processes in which used beverage cans and other end-of-life aluminium products are collected for re-melting at purpose-built plants. Manufacturers may also
enter into agreements with customers who return recycled process material and pay to have it re-melted and rolled into the same product again. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-37- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following charts illustrate expected global demand for aluminium extruded and rolled
products. The expected growth between 2014 and 2019 for the extruded products market and the flat rolled products market is 5.2% and 5.3%, respectively. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Projected Aluminium Demand 2014-2019 (in thousand tons) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g28x35.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The market for aluminium rolled products tends to be less subject to demand cyclicality than the markets
for primary aluminium and sheet ingot, which are affected by commodity price movements. A significant share of aluminium rolled products is used in the production of consumer staples, which have historically experienced relatively stable demand
characteristics. These factors combine to create an industry that has lower cyclicality than the primary aluminium industry. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As the
aluminium rolled products industry is characterized by economies of scale, significant capital investments required to achieve and maintain technological capabilities and demanding customer qualification standards. The service and efficiency demands
of large customers have encouraged consolidation among suppliers of aluminium rolled products. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The supply of aluminium rolled products
has historically been affected by production capacity, alternative technology substitution and trade flows between regions. The demand for aluminium rolled products has historically been affected by economic growth, substitution trends,
down-gauging, cyclicality and seasonality. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Aluminium Extrusions Overview </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Aluminium extrusion is a technique used to transform aluminium billets into objects with a definitive cross-sectional profile for a wide range
of uses. In the extrusion process, heated aluminium is forced through a die. Extrusions can be manufactured in many sizes and in almost any shape for which a die can be created. The extrusion process makes the most of aluminium&#146;s unique
combination of physical characteristics. Its malleability allows it to be easily machined and cast, and yet aluminium is one-third the density and stiffness of steel so the resulting products offer strength and stability, particularly when alloyed
with other metals. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-38- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Extruded profiles can be produced in solid or hollow form, while additional complexities can be
applied using advanced die designs. After the extrusion process, a variety of options are available to adjust the color, texture and brightness of the aluminium&#146;s finish. This may include aluminium anodizing or painting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Today, aluminium extrusion is used for a wide range of purposes, including components of the transportation and industrial markets. Virtually
every type of vehicle contains aluminium extrusions, including cars, boats, bicycles and trains. Home appliances and tools take advantage of aluminium&#146;s excellent strength-to-weight ratio. The increased focus on green building is also leading
contractors and architects to use more extruded aluminium products, as aluminium extrusions are flexible and corrosion-resistant. These diverse applications are possible due to the advantageous attributes of aluminium, from its particular blend of
strength and ductility to its conductivity, its non-magnetic properties and its ability to be recycled repeatedly without loss of integrity. All of these capabilities make aluminium extrusions a viable and adaptable solution for a growing number of
manufacturing needs. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Our Key End-markets </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have a significant presence in the can sheet and packaging end-markets, which have proved to be relatively stable and recession-resilient
and the aerospace end-market, which is driven by global demand trends rather than regional trends. Our automotive products are predominantly used in premium models manufactured by the German OEMs, which are not as dependent on the European economy
and continue to benefit from rising demand in developing economies, particularly China. For example, CRU International Limited reports that the consumption of automotive body sheet between 2014 and 2024 will have a growth of 28%&nbsp;per annum in
North America, 30%&nbsp;per annum in China and 14%&nbsp;per annum in Europe. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Aerospace </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Demand for aerospace plates is primarily driven by the build rate of aircrafts, which we believe will be supported for the foreseeable future
by (i)&nbsp;necessary replacement of aging fleets by airline operators, particularly in the United States and Western Europe, (ii)&nbsp;increasing global passenger air traffic (the aerospace industry publication The Airline Monitor estimates that
global revenue passenger miles will grow at a compound annual growth rate (&#147;CAGR&#148;) of approximately 5.6% from 2014 to 2020) and (iii)&nbsp;&#147;light-weighting&#148; (the substitution for lighter metals) to improve fuel efficiency and
address increasingly rigorous environmental requirements. In 2014, Boeing and Airbus predicted respectively approximately 37,000 and 31,000 new aircraft over the next 20 years across all categories of large commercial aircraft. Boeing estimates that
between 2013 and 2033, 37% of sales of new airplanes will be to Asia Pacific, 20% to Europe and 21% to North America. By early 2015, both Boeing and Airbus announced they will increase their single aisle build rates from a current 42 aircraft per
month to nearly 50 to 60 monthly units by 2018. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g17i48a.jpg" ALT="LOGO">
 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-39- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g66h94.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Rigid Packaging </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Aluminium beverage cans represented approximately 15% of the total European aluminium flat rolled demand by volume in 2014. Aluminium is a
preferred material for beverage packaging as it allows drinks to chill faster, can be stacked for transportation and storage more densely than competing formats (such as glass bottles), is highly formable for unique or differentiated branding, and
offers the environmental advantage of easy, cost- and energy-efficient recycling. As a result of these benefits, aluminium is displacing glass as the preferred packaging material in certain markets, such as beer. In our core European market,
aluminium is replacing steel as the standard for beverage cans. Between 2001 and 2014, we believe that aluminium&#146;s penetration of the European can stock market versus tinplate increased from 58% to 79%. In addition, we are benefitting from
increased consumption in Eastern Europe and growth in high margin products such as the specialty cans used for energy drinks. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">


<IMG SRC="g908770g79a02.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">


<IMG SRC="g908770g08f51.jpg" ALT="LOGO">
</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to expected growth, demand for can sheet has been highly resilient across economic cycles. Between
2007 and 2009, during the economic crisis, European can body stock volumes decreased by less than 9% as compared to a 24% decline for total European flat rolled products volumes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">According to CRU, the aluminium demand for the can stock market in Western and Eastern Europe is expected to grow by 3.1%&nbsp;per year
between 2014 and 2019. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-40- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Automotive </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We supply the automotive sector with flat rolled products out of our Packaging&nbsp;&amp; Automotive Rolled Products operating segment and
extrusions and automotive structures out of our Automotive Structures&nbsp;&amp; Industry operating segment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In our view, the main
drivers of automotive sales are overall economic growth, credit availability, consumer prices and consumer confidence. According to I.H.S., light vehicle production is expected to grow from 87&nbsp;million units in 2014 to 107&nbsp;million units in
2021 in Europe, Asia and North America. I.H.S. reports that in 2014, 51% of global light vehicles were produced in Asia, 23% were sold in Europe and 19% in North America. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Within the automotive sector, the demand for aluminium has been increasing faster than the underlying demand for light vehicles due to recent
growth in the use of aluminium products in automotive applications. We believe a main reason for this is aluminium&#146;s high strength-to-weight ratio in comparison to steel. This light-weighting facilitates better fuel economy and improved
emissions performance. As a result, manufacturers are seeking additional applications where aluminium can be used in place of steel and an increased number of cars are being manufactured with aluminium panels and crash management systems. We believe
that this trend will continue as increasingly stringent EU and U.S. regulations relating to reductions in carbon emissions, as well as high fuel prices, will force the automotive industry to increase its use of aluminium to &#147;lightweight&#148;
vehicles. European Union legislation sets mandatory emission reduction targets for new cars. The EU fleet average target of 130g/km has been set to an average of 65% of each manufacturer&#146;s newly registered cars in 2012. This has risen to 100%
in 2015. A shorter phase in period will apply to the target of 95g/km: 95% of each manufacturer&#146;s new cars will have with the limit value curve in 2020, increasing to 100% in 2021. We expect that EU and U.S. regulations requiring reductions in
carbon emissions and fuel efficiency, as well as relatively high fuel prices, will continue to drive aluminium demand in the automotive industry. Whereas growth in aluminium use in vehicles has historically been driven by increased use of aluminium
castings, we anticipate that future growth will be primarily in the kinds of extruded and rolled products that we supply to the OEMs. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g26v39.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe that Constellium is one of only a limited number of companies that is able to produce the
quality and quantity required by car manufacturers for both flat rolled products and automotive structures, and that we are therefore well positioned to take advantage of these market trends. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our R&amp;D-focused approach led to the development of a number of innovative automotive product solutions; for example, Constellium worked
with Mercedes-Benz to develop an all-aluminium crash management system that reduced the system&#146;s weight by 50%. In 2015, Constellium provides Ford Motor Co. with aluminium structural parts for the all-new Ford F-150 pickup truck that
extensively uses high-strength, military-grade, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-41- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
aluminium alloy as a build material (announced after December&nbsp;31, 2014). In addition, increasing demand for European luxury cars in emerging markets, particularly in China, is expected to
enhance the long-term growth prospects for our automotive products given our strong established relationships with the major German car manufacturers, who are particularly well placed in this region. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g05f05.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="49%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">


<IMG SRC="g908770g85z93.jpg" ALT="LOGO">
</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">


<IMG SRC="g908770g53w98.jpg" ALT="LOGO">
</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">According to the CRU, the aluminium consumption for the Auto Body market in Western Europe and North America
is expected to grow by 23% between 2014 and 2022.<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Managing Our Metal Price Exposure
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our business model is to add value by converting aluminium into semi-fabricated products. It is our policy not to speculate on
metal price movements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For all contracts, we continuously seek to minimize the impact of aluminium price fluctuations in order to protect
our net income and cash flows against the London Metal Exchange (the &#147;LME&#148;) price variations of aluminium that we buy and sell, with the following methods: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In cases where we are able to align the price and quantity of physical aluminium purchases with that of physical aluminium sales, we do not need to employ derivative instruments to further mitigate our exposure,
regardless of whether the LME portion of the price is fixed or floating. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">However, when we are unable to align the price and quantity of physical aluminium purchases with that of physical aluminium sales, we enter into derivative financial instruments to pass through the exposure to financial
institutions at the time the price is set. </TD></TR></TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Calculated based on NA Auto Body and Western Europe Auto Body. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-42- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For a small portion of our volumes, the aluminium is owned by our customers and we bear no aluminium price risk. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We mark-to-market derivatives at the period end giving rise to unrealized gains or losses which are classified as &#147;other
gains/(losses)&#151;net&#148;. These unrealized gains/losses have no bearing on the underlying performance of the business and are removed when calculating Adjusted EBITDA. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Sales and Marketing </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our sales
force is based in Europe (France, Germany, Czech Republic, United Kingdom, Switzerland and Italy), the United States and Asia (Tokyo, Shanghai, Seoul, and Singapore). We serve our customers either directly or through distributors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Raw Materials and Supplies </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our
primary metal supply is secured through long-term contracts with several upstream companies, including affiliates of Rio Tinto. In addition, approximately two-thirds of our slab supply is produced in our casthouses. All of our top 10 suppliers have
been long-standing suppliers to our plants (in many cases for more than 10 years) and in aggregate accounted for approximately 45% of our total purchases for the year ended December&nbsp;31, 2014. We typically enter into multi-year contracts with
these metal suppliers pursuant to which we purchase various types of metal, including: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Primary metal from smelters or metal traders in the form of ingots, rolling slabs or extrusion billets. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Remelted metal in the form of rolling slabs or extrusion billets from external casthouses, as an addition to our own casthouses. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Production scrap from customers and scrap traders. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">End-of-life scrap (e.g. used beverage cans) from customers, collectors and scrap traders. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Specific alloying elements and primary ingots from producers and metal traders. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our
operations use natural gas and electricity, which represent the third largest component of our cost of sales, after metal and labor costs. We purchase part of our natural gas and electricity on a spot-market basis. However, in an effort to acquire
the most favorable energy costs, we have secured some of our natural gas and electricity pursuant to fixed-price commitments. To reduce the risks associated with our natural gas and electricity requirements, we use financial futures or forward
contracts with our suppliers to fix the price of energy cost. Furthermore, in our longer-term sales contracts, we try to include indexation clauses on energy prices. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Our Customers </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our customer base
includes some of the largest leading manufacturers in the aerospace, packaging and automotive end-markets. We have a relatively diverse customer base with our 10 largest customers representing approximately 46% of our revenues and approximately 51%
of our volumes for the year ended December&nbsp;31, 2014. The average length of our relationships with each of our top 20 customers exceeds 25 years, and in some cases goes back as far as 40 years, particularly with our aerospace and packaging
customers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Most of our major packaging, aerospace and automotive customers have multi-year contracts with us (i.e., contracts with terms
of three to five years). We estimate that approximately 58% of our volumes for 2014 were generated under multi-year contracts, more than 53% were governed by contracts valid until 2015 or later and more than 43% were governed by contracts valid
until 2016 or later. In addition, more than 57% of our packaging volumes are contracted through 2017. This provides us with significant visibility into our future volumes and earnings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We see our relationships with our customers as partnerships where we work together to find customized solutions to meet their evolving
requirements. In addition, we collaborate with our customers to complete a rigorous process for qualifying our products in each of our end-markets, which requires substantial time and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-43- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
investment and creates high switching costs, resulting in longer-term, mutually beneficial relationships with our customers. For example, in the packaging industry, where qualification happens on
a plant-by-plant basis, we are currently the exclusive qualified supplier to several facilities of our customers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our product portfolio
is predominantly focused on high value-added products, which we believe we are particularly well-suited to developing and manufacturing for our customers. These products tend to require close collaboration with our customers to develop tailored
solutions, as well as significant effort and investment to adhere to rigorous qualification procedures, which enables us to foster long-term relationships with our customers. Our products typically command higher margins than more commoditized
products, and are supplied to end-markets that we believe have highly attractive characteristics and long-term growth trends. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe
that there are significant opportunities to improve the services and quality that we provide to our customers and to reduce our manufacturing costs by implementing Lean manufacturing initiatives. &#147;Lean manufacturing&#148; is a production
practice that improves efficiency of operations by identifying and removing tasks and process steps that do not contribute to value creation for the end customer. We continually evaluate debottlenecking opportunities globally through modifications
of and investments in existing equipment and processes. We aim to establish best-in-class operations and achieve cost reductions by standardizing manufacturing processes and the associated upstream and downstream production elements where possible,
while still allowing the flexibility to respond to local market demands and volatility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To focus our efforts, we launched a Lean
manufacturing program designed to improve the flow of value to customers by eliminating waste in both processes and resources. We measure operational success of this program in six key areas: (i)&nbsp;safety, (ii)&nbsp;quality,
(iii)&nbsp;acceleration of the flows and working capital reduction, (iv)&nbsp;delivery performance, (v)&nbsp;equipment efficiency and (vi)&nbsp;innovation. Our Lean manufacturing program is overseen by a dedicated team, headed by Yves M&eacute;rel.
Mr.&nbsp;M&eacute;rel reports directly to our Chief Executive Officer, Pierre Vareille. Mr.&nbsp;Vareille and Mr.&nbsp;M&eacute;rel have long track records of successfully implementing Lean manufacturing programs at other companies they have managed
together in the past. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The first phase of our Lean program aimed to establish a culture of continuous improvement to accelerate our
performance, increase our capacity and build a robust company; Constellium sites achieved this by improving on various areas as standardization of visual management tools, management routines or customer satisfaction. Henceforth, to move forward, we
choose to pursue with a second phase which put quality, delivery performance, safety along with employee development at the top of the agenda. Phase 2 of the program will last until the end of 2019. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Competition </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The worldwide
aluminium industry is highly competitive and we expect this dynamic to continue for the foreseeable future. We believe the most important competitive factors in our industry are: product quality, price, timeliness of delivery and customer service,
geographic coverage and product innovation. Aluminium competes with other materials such as steel, plastic, composite materials and glass for various applications. Our key competitors in our Aerospace&nbsp;&amp; Transportation operating segment are
Alcoa Inc., Aleris International, Inc., Kaiser Aluminum Corp., Austria Metall AG, and Universal Alloy Corporation. Our key competitors in our Packaging&nbsp;&amp; Automotive Rolled Products operating segment are Novelis Inc., Norsk Hydro ASA, Alcoa,
Inc., and Sapa AB. Our key competitors in our Automotive Structures&nbsp;&amp; Industry operating segment are Norsk Hydro ASA, Sapa AB, Alcoa, Inc., Sankyo Tateyama, Inc., Eural Gnutti S.p.A., Otto Fuchs KG, Impol Aluminium Corp., Benteler
International AG and YKK. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Research and Development </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe that our research and development capabilities coupled with our integrated, long-standing customer relationships create a
distinctive competitive advantage versus our competition. Our R&amp;D center is based in Voreppe, France and provides services and support to all of our facilities. The R&amp;D center focuses on product and process development, provides technical
assistance to our plants and works with our customers to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-44- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
develop new products. In developing new products, we focus on increased performance that aims to lower the total cost of ownership for the end users of our products, for example, by developing
materials that decrease maintenance costs of aircraft or increase fuel efficiency in cars. As of December&nbsp;31, 2014, the research and development center employs 251 employees, including approximately 89 scientists and 84 technicians. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Within the Voreppe facility, we also focus on the development, improvement, and testing of processes used in our plants such as melting,
casting, rolling, extruding, finishing and recycling. We also develop and test technologies used by our customers, such as friction stir welding and automotive hoods bumping and provide technological support to our customers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The key contributors to our success in establishing our R&amp;D capabilities include: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Close interaction with key customers, including through formal partnerships or joint development teams&#151;examples include Strongalex<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>, Formalex<SUP
STYLE="font-size:85%; vertical-align:top">&reg;</SUP> and Surfalex<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>, which were developed with automotive Auto Body Sheet customers (mainly Daimler and Audi) and the Fusion bottle, a draw wall
ironed technology created in partnership with Rexam. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Technologically advanced equipment. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Long-term partnerships with European universities&#151;for example, Swiss Technology Partners and &Eacute;cole Polytechnique F&eacute;d&eacute;rale de Lausanne in Switzerland generate significant innovation
opportunities and foster new ideas. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We invested &#128;38&nbsp;million in research and development in the year ended
December&nbsp;31, 2014, &#128;36&nbsp;million in the year ended December&nbsp;31, 2013, and &#128;36&nbsp;million in the year ended December&nbsp;31, 2012. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trademarks, Patents, Licenses and IT </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
connection with the Acquisition, Rio Tinto assigned or licensed to us certain patents, trademarks and other intellectual property rights. In connection with our collaborations with universities such as the &Eacute;cole Polytechnique
F&eacute;d&eacute;rale de Lausanne and other third parties, we occasionally obtain royalty-bearing licenses for the use of third party technologies in the ordinary course of business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We actively review intellectual property arising from our operations and our research and development activities and, when appropriate, apply
for patents in the appropriate jurisdictions. We currently hold approximately 160 active patent families and regularly apply for new ones. While these patents and patent applications are important to the business on an aggregate basis, we do not
believe any single patent family or patent application is critical to the business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are from time to time involved in opposition and
re-examination proceedings that we consider to be part of the ordinary course of our business, in particular at the European Patent Office, the U.S. Patent and Trademark Office, and the State Intellectual Property Office of the People&#146;s
Republic of China. We believe that the outcome of existing proceedings would not have a material adverse effect on our financial position, results of operations or cash flows. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Insurance </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have implemented a
corporate-wide insurance program consisting of both corporate-wide master policies with worldwide coverage and local policies where required by applicable regulations. Our insurance coverage includes: (i)&nbsp;property damage and business
interruption; (ii)&nbsp;general liability including operation, professional, product and environment liability; (iii)&nbsp;aviation product liability; (iv)&nbsp;marine cargo (transport); (v)&nbsp;business travel and personal accident;
(vi)&nbsp;construction all risk (EAR/CAR); (vii)&nbsp;automobile liability and motor contingency (France); (viii)&nbsp;trade credit; and (ix)&nbsp;other specific coverages for executive risk, crime, employment and business practice liability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-45- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe that our insurance coverage terms and conditions are customary for a business such as
Constellium and are sufficient to protect us against catastrophic losses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We also purchase and maintain insurance on behalf of our
directors and officers (D&amp;O). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Governmental Regulations and Environmental, Health and Safety Matters </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our operations are subject to a number of federal, state and local regulations relating to the protection of the environment and to workplace
health and safety. Our operations involve the use, handling, storage, transportation and disposal of hazardous substances, and accordingly we are subject to extensive federal, state and local laws and regulations governing emissions to air,
discharges to water emissions, the generation, storage, transportation, treatment or disposal of hazardous materials or wastes and employee health and safety matters. In addition, prior operations at certain of our properties have resulted in
contamination of soil and groundwater which we are required to investigate and remediate pursuant to applicable environmental, health and safety (&#147;EH&amp;S&#148;) laws. Environmental compliance at our key facilities is overseen by the Direction
R&eacute;gionale de l&#146;Environnement de l&#146;Am&eacute;nagement et du Logement in France, the Umweltbundesamt in Germany, the Service de la Protection de l&#146;Environnement du Canton du Valais in Switzerland, the West Virginia Department of
Environmental Protection and the Kentucky Department for Environmental Protection in the United States, the Regional Authority of the Usti Region in the Czech Republic, the Slovenk&aacute; In&#154;pekcia &#158;ivotn&eacute;ho prostredia in Slovakia,
and the Environmental Monitoring Agency in China. Violations of EH&amp;S laws, and remediation obligations arising under such laws, may result in restrictions being imposed on our operating activities as well as fines, penalties, damages or other
costs. Accordingly, we have implemented EH&amp;S policies and procedures to protect the environment and ensure compliance with these laws, and incorporate EH&amp;S considerations into our planning for new projects. We perform regular risk
assessments and EH&amp;S reviews. We closely and systematically monitor and manage situations of noncompliance with EH&amp;S laws and cooperate with authorities to redress any noncompliance issues. We believe that we have made adequate reserves with
respect to our remediation obligations. Nevertheless, new regulations or other unforeseen increases in the number of our non-compliant situations may impose costs on us that may have a material adverse effect on our financial condition, results of
operations or liquidity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our operations also result in the emission of substantial quantities of carbon dioxide, a greenhouse gas that is
regulated under the EU&#146;s Emissions Trading System (&#147;ETS&#148;). Although compliance with ETS to date has not resulted in material costs to our business, compliance with ETS requirements currently being developed for the 2013-2020 period,
and increased energy costs due to ETS requirements imposed on our energy suppliers, could have a material adverse effect on our business, financial condition or results of operations. We may also be liable for personal injury claims or workers&#146;
compensation claims relating to exposure to hazardous substances. In addition, we are, from time to time, subject to environmental reviews and investigations by relevant governmental authorities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Additionally, some of the chemicals we use in our fabrication processes are subject to REACH in the EU. Under REACH, we are required to
register some of our products with the European Chemicals Agency, and this process could cause significant delays or costs. We are currently compliant with REACH, and expect to stay in compliance, but if the nature of the regulation changes in the
future, we may be required to make significant expenditures to reformulate the chemicals that we use in our products and materials or incur costs to register such chemicals to gain and/or regain compliance. Future noncompliance could also subject us
to significant fines or other civil and criminal penalties. Obtaining regulatory approvals for chemical products used in our facilities is an important part of our operations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We accrue for costs associated with environmental investigations and remedial efforts when it becomes probable that we are liable and the
associated costs can be reasonably estimated. The aggregate close down and environmental restoration costs provisions at December&nbsp;31, 2014 were &#128;47 million. All accrued amounts have </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-46- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
been recorded without giving effect to any possible future recoveries. With respect to ongoing environmental compliance costs, including maintenance and monitoring, we expense the costs when
incurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have incurred, and in the future will continue to incur, operating expenses related to environmental compliance. As part of
the general capital expenditure plan, we expect to incur capital expenditures for other capital projects that may, in addition to improving operations, reduce certain environmental impacts. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Litigation and Legal Proceedings </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">From
time to time, we are party to a variety of claims and legal proceedings that arise in the ordinary course of business.&nbsp;The Company is currently not involved, nor has it been involved during the twelve-month period immediately prior to the date
of this Annual Report, in any governmental, legal or arbitration proceedings which may have or have had a significant effect on the Company&#146;s business, financial position or profitability, and the Company is not aware of any such proceedings
which are currently pending or threatened. From time to time, asbestos-related claims are also filed against us, relating to historic asbestos exposure in our production process.&nbsp;Constellium has implemented internal controls to comply with
applicable environmental law.&nbsp;We have made reserves for potential occupational disease claims in France of &#128;6&nbsp;million as of December&nbsp;31, 2014, which we believe are adequate.&nbsp;It is not anticipated that any of our currently
pending litigation and proceedings will have a material effect of on the future results of the Company. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>C. Organizational Structure
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following diagram summarizes our corporate entity structure as of December&nbsp;31, 2014, including our significant subsidiaries.
The diagram also includes subsidiaries acquired or created in connection with the Wise Acquisition on January&nbsp;5, 2015: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g91v63.jpg" ALT="LOGO">
 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-47- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>D. Property, Plants and Equipment </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At December&nbsp;31, 2014, we operated 22 production sites serving both global and local customers, including six major facilities, and one
world class R&amp;D center. Our top six sites (Ravenswood, Neuf-Brisach, Issoire, Singen, D&#283;&#269;&iacute;n and Sierre) make up a total of approximately 990,000 square meters. A summary of the six major facilities and our R&amp;D center is
provided below: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Ravenswood, West Virginia facility has significant assets for producing aerospace plates and is a recognized supplier to the defense industry. The facility has wide-coil capabilities and stretchers that make it the
only facility in the world capable of producing plates of a size needed for the largest commercial aircraft. We spent approximately &#128;40&nbsp;million in the two-year period ended December&nbsp;31, 2014 on significant equipment upgrades
(including a hot mill and new state-of-the-art stretcher), which are in the completion stages. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Issoire, France facility is one of the world&#146;s two leading aerospace plate mills based on volumes. It contains our AIRWARE<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP> industrial casthouse and
currently uses recycling capabilities to take back scrap along the entire fabrication chain. Issoire works as an integrated platform with Ravenswood, providing a significant competitive advantage for us as a global supplier to the aerospace
industry. We invested &#128;67&nbsp;million in the facility in the two-year period ended December&nbsp;31, 2014. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Neuf-Brisach, France facility is an integrated aluminium rolling, finishing and recycling facility in Europe. Our recent investments in a can body stock slitter and recycling furnace has enabled us to secure
long-term can stock contracts. Additionally, the facility&#146;s automotive furnace has allowed it to become a significant supplier of aluminium Auto Body Sheet in the automotive market. We invested &#128;87&nbsp;million in the facility in the
two-year period ended December&nbsp;31, 2014. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The D&#283;&#269;&iacute;n, Czech Republic facility is a large extrusion facility, mainly focusing on hard alloy extrusions for industrial applications, with significant recycling capabilities. It is located near the
German border, strategically positioning it to supply the German OEMs. Its integrated casthouse allows it to offer high value-add customized hard alloys to our customers. We invested &#128;13&nbsp;million in the facility in the two-year period ended
December&nbsp;31, 2014. The investment includes a new small lot size casthouse complemented with a recycling facility and extrusion line that will increase production of hard alloys tubes and bars by almost 10,000 tons per year expanding our
capabilities to serve the automotive market. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Singen, Germany facility has one of the largest extrusion presses in the world as well as advanced and highly productive integrated bumper manufacturing lines. We recently invested in a new state-of-the-art 40
MegaNewton automotive extrusion press. We invested &#128;15&nbsp;million in the facility in the two-year period ended December&nbsp;31, 2014. The rolling part has industry leading cycle times and high-grade cold mills with special surfaces
capabilities. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Sierre, Switzerland facility is dedicated to precision plates for general engineering, aero plates and slabs and is a leading supplier of extruded products for high-speed train railway manufacturers and a wide range
of applications. The Sierre facility includes the Steg casthouse that produces automotive, general engineering and aero slabs and the Chippis casthouse that has the capacity to produce non-standard billets and a wide range of extrusions. Its recent
qualification as an aerospace plate and slabs plant increases our aerospace production and will help us to support the increased build rates of commercial aircraft OEMs. We invested &#128;20&nbsp;million in the facility in the two-year period ended
December&nbsp;31, 2014. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-48- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our production facilities are listed below by operating segment: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Operating Segment</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Location</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Country</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Owned/Leased</B></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace &amp; Transportation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Ravenswood, WV</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">United States</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace &amp; Transportation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Carquefou</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">France</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace &amp; Transportation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Issoire</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">France</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace &amp; Transportation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Montreuil-Juign&eacute;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">France</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace &amp; Transportation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Ussel</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">France</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace &amp; Transportation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Steg</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Switzerland</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Aerospace &amp; Transportation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Sierre</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Switzerland</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Packaging &amp; Automotive Rolled Products</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Biesheim, Neuf-Brisach</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">France</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Packaging &amp; Automotive Rolled Products</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Singen</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Germany</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned/Leased<SUP STYLE="font-size:85%; vertical-align:top">(1)</SUP></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Novi, MI</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">United States</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Leased</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">van Buren, MI</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">United States</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Leased</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Changchun,&nbsp;Jilin&nbsp;Province&nbsp;(JV)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">China</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Leased</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Kunshan,&nbsp;Jiangsu&nbsp;Province&nbsp;(JV)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">China</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Leased</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">D&#283;&#269;&iacute;n</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Czech&nbsp;Republic</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Nuits-Saint-Georges</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">France</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Burg</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Germany</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Crailsheim</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Germany</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Neckarsulm</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Germany</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Gottmadingen</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Germany</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Landau/Pfalz</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Germany</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Singen</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Germany</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Levice</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Slovakia</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Chippis</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Switzerland</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Automotive Structures &amp; Industry</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Sierre</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Switzerland</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Owned</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">While a majority of the land is owned by us, certain plots of land are subject to a lease agreement. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The production capacity and utilization rate for our main plants are listed below as of December&nbsp;31, 2014: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:22.80pt; font-size:10pt; font-family:Times New Roman"><B>Plant</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Capacity</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Utilization&nbsp;Rate</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Neuf-Brisach</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">450kt</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">90-95%</FONT></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Singen</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">290-310kt</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">70-75%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Issoire</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">85-90kt</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">90-95%</FONT></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">125-130kt</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">90-95%</FONT></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sierre</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">70-75kt</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">75-80%</FONT></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">D&#283;&#269;&iacute;n</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">65kt</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center"><FONT STYLE="white-space:nowrap">65-70%</FONT></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="1%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Estimates assume currently operating equipment, current staffing configuration and current product mix. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For information concerning the material plans to construct expand or improve facilities, see &#147;Item 5. Operating and Financial Review and
Prospects&#151;Liquidity and Capital Resources.&#148; </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_7"></A>Item&nbsp;4A. Unresolved Staff Comments </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">None. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-49- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_8"></A>Item&nbsp;5. Operating and Financial Review and Prospects </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>The following discussion and analysis is based principally on our audited consolidated financial statements as of and for the years ended
December&nbsp;31, 2014, 2013 and 2012 which appear elsewhere in this Annual Report. The following discussion is to be read in conjunction with &#147;Item 3. Key Information&#151;A. Selected Financial Data&#148; and our audited consolidated financial
statements and the notes thereto, which appear elsewhere in this Annual Report. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>The following discussion and analysis includes
forward-looking statements. These forward-looking statements are subject to risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed or implied by our forward-looking statements. Factors
that could cause or contribute to these differences include, but are not limited to, those discussed below and elsewhere in this Annual Report. See in particular &#147;Special Note About Forward-Looking Statements&#148; and &#147;Item 3. Key
Information&#151;D. Risk Factors.&#148; </I></P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Introduction </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following discussion and analysis is provided to supplement the audited consolidated financial statements and the related notes included
elsewhere in this Annual Report to help provide an understanding of our financial condition, changes in financial condition and results of our operations. This section is organized as follows: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>Company Overview.</I> This section provides a general description of our business as well as an introduction to our operating segments, and key factors influencing our financial condition and results of
operations. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Results of Operations</I>. This section provides a discussion of the results of operations on a historical basis for each of our fiscal periods in the years ended December&nbsp;31, 2014, 2013 and 2012.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>Segment results. </I>This section provides a discussion of our segment results on a historical basis for each of our fiscal periods in the years ended December&nbsp;31, 2014, 2013 and 2012 </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>Liquidity and Capital Resources.</I> This section provides an analysis of our cash flows for each of our fiscal years ended December&nbsp;31, 2014, 2013 and 2012. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>Contractual Obligations and Contingencies.</I> This section provides a discussion of our commitments as of December&nbsp;31, 2014. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>Quantitative and Qualitative Disclosures about Market Risk.</I> This section discusses our exposure to potential losses arising from adverse changes in interest rates and commodity prices. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>Critical Accounting Policies, Critical Accounting Estimates and Key Judgments.</I> This section discusses the accounting policies and estimates that we consider to be important to our financial condition and
results of operations and that require significant judgment and estimates on the part of management in their application. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Company
Overview </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are a global leader in the development, manufacture and sale of a broad range of highly engineered, value-added specialty
rolled and extruded aluminium products to the aerospace, packaging, automotive, other transportation and industrial end-markets. Our leadership positions include a joint number one position in global aerospace plates and a number one position in
European can sheet. This global leadership is supported by our well-invested facilities in Europe and the United States, as well as more than 50 years of proven manufacturing quality and innovation, a global sales network and pre-eminent R&amp;D
capabilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, we had approximately 8,900 employees and 22 state-of-the-art, integrated production
facilities, 10 administrative and commercial sites, and one R&amp;D center. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-50- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our product portfolio is predominantly focused on high value-added, technologically advanced
specialty products that command higher margins than less differentiated aluminium products. This portfolio serves a broad range of end-markets that exhibit attractive growth trends in future periods such as aerospace or automotive. Our technological
advantage and relationship with our customers is driven by our pre-eminent R&amp;D capabilities. We believe that our R&amp;D capabilities are a key attraction for our customers. Many projects are designed to support specific commercial opportunities
at the request of our customers and are carried out in partnership with them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This regular interaction and partnership with our customers
also help us maintain our leading market positions. We have long-standing, established relationships with some of the largest companies in the aerospace, packaging, automotive and other transportation industries including Boeing, Airbus, Rexam,
Crown, Ball and Amcor, as well as a number of leading automotive firms. The average length of our customer relationships with our top 20 customers exceeds 25 years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our primary metal supply is secured through long-term contracts with several upstream companies, including affiliates of Rio Tinto. In
addition, a material portion of our slab and billet supply is produced in our own casthouses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The table below presents our revenue, net
income from continuing operations and Adjusted EBITDA in the year ended December&nbsp;31, 2014, 2013 and 2012. Please see the reconciliation of the net income from continuing operations to Adjusted EBITDA in &#147;&#151;Segment Results.&#148; </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2014&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2013&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2012&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center"><B>(&#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenue</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,666</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,495</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,610</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income from continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">149</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">275</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">223</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Our Operating Segments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We serve a diverse set of customers across a broad range of end-markets with very different product needs, specifications and requirements. As
a result, we have organized our business into the following three segments to better serve our customer base: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Aerospace&nbsp;&amp; Transportation
Segment </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our global Aerospace&nbsp;&amp; Transportation segment has market leadership positions in technologically advanced
aluminium and specialty materials products with wide applications across the global aerospace, defense, transportation, and industrial sectors. We offer a wide range of products including plate and sheet which allows us to offer tailored solutions
to our customers. We seek to differentiate our products and act as a key partner to our customers through our broad product range, advanced R&amp;D capabilities, extensive recycling capabilities and portfolio of plants with an extensive range of
capabilities across Europe and North America. In order to reinforce the competitiveness of our metal solutions, we design our processes and alloys with a view to optimizing our customers&#146; operations and costs. This includes offering services
such as customizing alloys to our customers&#146; processing requirements, processing short lead time orders and providing vendor managed inventories or tolling arrangements. Aerospace&nbsp;&amp; Transportation accounted for 32% of our revenues and
33% of Adjusted EBITDA for the year ended December&nbsp;31, 2014. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Packaging&nbsp;&amp; Automotive Rolled Products Segment </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In our Packaging&nbsp;&amp; Automotive Rolled Products segment, we produce and develop customized aluminium sheet and coil solutions.
Approximately 80% of segment volume for the year ended December&nbsp;31, 2014 was in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-51- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
packaging applications, which primarily include beverage and food can stock as well as closure stock and foil stock. Twelve percent of segment volume for that period was in automotive rolled
products. Our Packaging&nbsp;&amp; Automotive Rolled Products segment accounted for 43% of revenues and 43% of Adjusted EBITDA for the year ended December&nbsp;31, 2014. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Automotive Structures&nbsp;&amp; Industry Segment </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Automotive Structures&nbsp;&amp; Industry segment produces (i)&nbsp;technologically advanced structures for the automotive industry,
including crash management systems, side impact beams and cockpit carriers and (ii)&nbsp;soft and hard alloy extrusions and large extruded profiles for automotive, rail, road, energy, building and industrial applications. We complement our products
with a comprehensive offering of downstream technology and service activities, which include pre-machining, surface treatment, R&amp;D and technical support services. Our Automotive Structures&nbsp;&amp; Industry segment accounted for 24% of
revenues and 27% of Adjusted EBITDA for the year ended December&nbsp;31, 2014. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Discontinued Operations and Disposals </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At December&nbsp;30, 2011, we disposed of the vast majority of our specialty chemicals and raw materials supply chain services division, AIN.
As at December&nbsp;31, 2012, we ceased operations in the remaining entities, therefore abandoning them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the year ended
December&nbsp;31, 2013, we sold two of our soft alloy plants in France, Ham and Saint Florentin, which did not meet the criteria of discontinued operations in accordance with IFRS and therefore have not been classified or disclosed as such. We have
excluded the revenue or shipments from these plants in some of our analysis, where indicated, to allow comparison of period-on-period production. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the year ended December&nbsp;31, 2013, the investment in Alcan Strojmetal Aluminium Forging s.r.o., previously accounted for under the
equity method, was sold, generating a &#128;3&nbsp;million disposal gain. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the year ended December&nbsp;31, 2014, the sale of our
Tarascon-sur-Ari&egrave;ge (Sabart) plant in France was completed generating a &#128;7&nbsp;million loss on disposal. This operation did not meet the criteria of discontinued operations in accordance with IFRS and therefore has not been classified
or disclosed as such. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Key Factors Influencing Constellium&#146;s Financial Condition and Results from Operations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>The Aluminium Industry </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We
participate in select segments of the aluminium semi-fabricated products industry, including rolled and extruded products. Aluminium is lightweight, has a high strength-to-weight ratio and is resistant to corrosion. It compares favorably to several
alternative materials, such as steel, in these respects. Aluminium is also unique in the respect that it recycles repeatedly without any material decline in performance or quality. The recycling of aluminium delivers energy and capital investment
savings relative to the cost of producing both primary aluminium and many other competing materials. Due to these qualities, the penetration of aluminium into a wide variety of applications continues to increase. We believe that long-term growth in
aluminium consumption generally, and demand for those products we produce specifically, will be supported by factors that include growing populations, continued urbanization in emerging markets and increasing focus globally on sustainability and
environmental issues. Aluminium is increasingly seen as the material of choice in a number of applications, including packaging, aerospace and automotive. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We do not mine bauxite, refine alumina, or smelt primary aluminium as part of our business. Our industry is cyclical and is affected by global
economic conditions, industry competition and product development. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-52- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The financial performance of our operations is dependent on several factors, the most critical of
which are as follows: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Volumes </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The profitability of our businesses is determined, in part, by the volume of tons invoiced and processed. Increased production volumes will
result in lower per unit costs, while higher invoiced volumes will result in additional revenues and associated margins. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Price and Margin
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For all contracts, we continuously seek to minimize the impact of aluminium price fluctuations in order to protect our net income
and cash flows against the LME price variations of aluminium that we buy and sell, with the following methods: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In cases where we are able to align the price and quantity of physical aluminium purchases with that of physical aluminium sales, we do not need to employ derivative instruments to further mitigate our exposure,
regardless of whether the LME portion of the price is fixed or floating. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">However, when we are unable to align the price and quantity of physical aluminium purchases with that of physical aluminium sales, we enter into derivative financial instruments to pass through the exposure to financial
institutions at the time the price is set. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">For a small portion of our volumes, the aluminium is owned by our customers and we bear no aluminium price risk. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We do not apply hedge accounting for the derivative instruments we enter into in connection with our on-going commercial activities and
therefore any mark-to-market movements for these instruments are recognized in &#147;other gains/(losses)&#151;net&#148; (note that we did apply hedge accounting to the derivative instruments we entered into in connection with the Wise Acquisition).
Our risk management practices aim to reduce, but do not eliminate, our exposure to changing primary aluminium prices and, while we have limited our exposure to unfavorable price changes, we have also limited our ability to benefit from favorable
price changes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, our operations require that a significant amount of inventory be kept on hand to meet future production
requirements. The value of the base level of inventory is also susceptible to changing primary aluminium prices. In order to reduce these exposures, we focus on reducing inventory levels and offsetting future physical purchases and sales. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We refer to the timing difference between the price of primary aluminium included in our revenues and the price of aluminium impacting our
cost of sales as &#147;metal price lag.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Also included in our results is the impact of differences between changes in the prices of
primary and scrap aluminium. As we price our product using the prevailing price of primary aluminium but purchase large amounts of scrap aluminium to produce our products, we benefit when primary aluminium price increases exceed scrap price
increases. Conversely, when scrap price increases exceed primary aluminium price increases, our results will be negatively impacted. The difference between the price of primary aluminium and scrap prices is referred to as the &#147;scrap
spread&#148; and is impacted by the effectiveness of our scrap purchasing activities, the supply of scrap available and movements in the terminal commodity markets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The price we pay for aluminium also includes regional premiums, such as the Rotterdam premium for metal purchased in Europe or the Midwest
premium for metal purchased in the U.S. The regional premiums which had historically been fairly stable have recently become more volatile. Notably, regional premiums increased significantly in 2013 and 2014, with the Rotterdam premium and the
Midwest premium reaching unprecedented levels in the fourth quarter of 2014. Although our business model seeks to minimize the impact of aluminium </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-53- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
price fluctuations on our net income and cash flows, we are not always able to pass-through the cost of regional premiums to our customers or adequately hedge the impact of regional premium
differentials. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Seasonality </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Customer demand in the aluminium industry is cyclical due to a variety of factors, including holiday seasons, weather conditions, economic and
other factors beyond our control. Our volumes are impacted by the timing of the holiday seasons in particular, with August and December typically being the lowest months and January to June being the strongest months. Our business is also impacted
by seasonal slowdowns and upturns in certain of our customers&#146; industries. Historically, the can industry is strongest in the spring and summer seasons, whereas the automotive and construction sectors encounter slowdowns in both the third and
fourth quarters of the calendar year. In response to this seasonality, we seek to scale back and may even temporarily close some operations to reduce our operating costs during these periods. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Economic Conditions, Markets and Competition </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are directly affected by the economic conditions which impact our customers and the markets in which they operate. General economic
conditions in the geographic regions in which our customers operate&#151;such as the level of disposable income, the level of inflation, the rate of economic growth, the rate of unemployment, exchange rates and currency devaluation or
revaluation&#151;influence consumer confidence and consumer purchasing power. These factors, in turn, influence the demand for our products in terms of total volumes and the price that can be charged. In some cases we are able to mitigate the risk
of a downturn in our customers&#146; businesses by building committed minimum volume thresholds into our commercial contracts. We further seek to mitigate the risk of a downturn by utilizing a temporary workforce for certain operations, which allows
us to match our resources with the demand for our services. We are also seeking to purchase transportation and logistics services from third parties, to the extent possible, in order to limit capital expenditure and manage our fixed cost base. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Although the metals industry and our end-markets are cyclical in nature and expose us to related risks, we believe that our portfolio is
relatively resistant to these economic cycles in each of our three main end-markets (aerospace, packaging and automotive): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">We believe that the aerospace industry is currently insulated from the economic cycle through a combination of drivers sustaining its growth. These drivers include increasing passenger traffic and the replacement of the
fleet fueled by the age of the planes in service and the need for more efficient planes. These factors have materialized in the form of historically high backlogs for the aircraft manufacturers; the combined order backlog for Boeing and Airbus
currently represents approximately eight years of manufacturing at current delivery rates. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Can packaging is a seasonal market peaking in the summer because of the increased consumption of soft drinks during the summer months. It tends not to be highly correlated to the general economic cycle and in addition,
we believe European can body stock has an attractive long-term growth outlook due to ongoing trends in (i)&nbsp;end-market growth in beer, soft drinks and energy drinks, (ii)&nbsp;increasing use of cans versus glass in the beer market,
(iii)&nbsp;and increasing penetration of aluminium in can body stock at the expense of steel. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Although the automotive industry as a whole is a cyclical industry, its demand for aluminium has been increasing in recent years. This was due to the light-weighting requirement for new car models, which drives a
positive substitution of heavier metals in favor of aluminium. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to the counter-cyclicality of our key
end-markets, we believe our cash flows are also largely protected from variations in LME prices due to the fact that we hedge our sales based on their replacement cost, by setting the maturity of our futures on the delivery date to our customers. As
a result, when LME prices increase, we have limited additional cash requirements to finance the increased replacement cost of our </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-54- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
inventory. Aluminium prices are determined by worldwide forces of supply and demand, and, as a result, aluminium prices are volatile. The average LME transaction price per ton of primary
aluminium in 2012, 2013 and 2014 was &#128;1,569, &#128;1,390 and &#128;1,410, respectively. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The average quarterly LME per ton using U.S.
dollar prices converted to euros using the applicable European Central Bank rates are presented in the following table: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP><I>(Euros/ton)</I></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">First Quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,247</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,516</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,660</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Second Quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,312</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,405</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,541</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Third Quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,500</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,345</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,533</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fourth Quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,573</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,300</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,540</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Average for the year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,410</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,390</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,569</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A portion of our revenues are denominated in U.S. dollars while the majority of our costs incurred are
denominated in local currencies. We engage in significant hedging activity to attempt to mitigate the effects of foreign transaction currency fluctuations on our profitability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We mark-to-market derivatives at the period end giving rise to unrealized gains or losses which are classified as &#147;other
gains/(losses)&#151;net&#148;. These unrealized gains or losses have no bearing on the underlying performance of the business and are removed when calculating Adjusted EBITDA. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Currency </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We are a global company
with operations as of December&nbsp;31, 2014 in France, the United States, Germany, Switzerland, the Czech Republic, Slovakia and China. As a result, our revenue and earnings have exposure to a number of currencies, primarily the U.S. dollar, the
euro and the Swiss Franc. Our consolidated revenue and results of operations are affected by fluctuations in the exchange rates of the currencies of the countries in which we operate. We have implemented a strategy from mid-2011 onwards to hedge all
highly probable or committed foreign currency cash flows. As we have multiple-year sale agreements for the sale of fabricated metal products in U.S. dollars, the Company has entered into derivative contracts to forward sell U.S. dollars to match
these future sales. Hedge accounting is not applied and therefore the mark-to-market impact is recorded in &#147;other gains/(losses)&#151;net.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Personnel Costs </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our operations
are labor intensive and, as a result, our personnel costs represent 21% and 20% of our cost of sales, selling and administrative expenses and research and development expenses for the years ended December&nbsp;31, 2014 and 2013, respectively.
Personnel costs generally increase and decrease proportionately with the expansion, addition or closing of operating facilities. Personnel costs include the salaries, wages and benefits of our employees, as well as costs related to temporary labor.
During our seasonal peaks and especially during summer months, we have historically increased our temporary workforce to compensate for staff on holiday and increased volume of activity. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Presentation of Financial Information </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The financial information presented in this section is derived from our audited consolidated financial statements for the years ended
December&nbsp;31, 2014, 2013 and 2012. Our consolidated financial statements have been prepared in accordance with IFRS as issued by the IASB and as endorsed by the EU. Our presentation currency is the euro. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-55- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Results of Operations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Description of Key Line Items of the Historical Consolidated Statements of Income </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Set forth below is a brief description of the composition of the key line items of our historical consolidated statements of income for
continuing operations: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>Revenue.</I></B> Revenue represents the income recognized from the delivery of goods to third parties, including the sale of scrap metal and tooling, less discounts, credit notes and taxes levied on sales.
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I></I></B><B><I>Cost of sales.</I></B> Cost of sales include the costs of materials directly attributable to the normal operating activities of the business, including raw material and energy costs, personnel costs
for those involved in production, depreciation and the maintenance of producing assets, packaging and freight on-board costs, tooling, dyes and utility costs. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I></I></B><B><I>Selling and administrative expenses.</I></B> Selling and administrative expenses include depreciation of non-producing assets, amortization, personnel costs of those personnel involved in sales and
corporate functions such as finance and IT. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I></I></B><B><I>Research and development expenses.</I></B> Research and development expenses are costs in relation to bringing new products to market. Included in such expenses are personnel costs and depreciation
and maintenance of assets offset by tax credits for research activities where applicable. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I></I></B><B><I>Restructuring costs.</I></B> Restructuring costs are the expenses incurred in implementing management initiatives for cost-cutting and efficiency improvements. These costs primarily relate to
severance payments, pension curtailment costs and contract termination costs. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>Other (losses)/gains &#151;net.</I></B> Other expenses or income include unusual infrequent or non-recurring items, realized and unrealized gains or losses on derivative instruments and exchange gains or losses on
remeasurements of monetary assets or liabilities. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I></I></B><B><I>Other expenses.</I></B> Other expenses mainly comprise acquisition and separation costs, which are costs incurred in relation to the acquisition by Constellium of substantially all of the entities,
divisions and businesses of the AEP Business on January&nbsp;4, 2011 and expenses related to our May 2013 IPO and subsequent secondary offerings. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I></I></B><B><I>Finance income or expenses.</I></B> Interest income mainly relates to interest earned on loans and deposits and lease payments received in relation to finance leases. Interest and similar expenses
relate to interest and amortized set up fees charged on loans, factoring and other borrowings. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I></I></B><B><I>Share of (loss)/profit of joint ventures.</I></B> A joint venture is a contractual arrangement whereby two or more parties undertake an economic activity that is subject to joint control. Results
from investments in joint ventures represent Constellium&#146;s share of results of joint ventures accounted for using the equity method. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><B><I></I></B><B><I>Income taxes.</I></B> Income tax represents the aggregate amount included in the determination of profit or loss for the year in
respect of current tax and deferred tax. Current tax is the amount of income taxes payable (recoverable) in respect of the taxable profit/ (loss) for a year. Deferred tax represents the
</P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-56- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="8%">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="font-family:Times New Roman; font-size:10pt">
amounts of income taxes payable/ (recoverable) in future periods in respect of taxable (deductible) temporary differences and unused tax losses. </P></TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center"><B>(&#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Continuing operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Revenue</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,666</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,610</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,183</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,024</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,136</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Gross profit</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>483</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>471</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>474</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(210</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(212</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Research and development expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(25</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other (losses)/gains net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(83</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income from operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>150</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>209</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>263</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(58</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(50</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(60</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of (loss)/profit of joint ventures</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income before income taxes</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>91</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>135</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net income from continuing operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>149</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income/(loss) from discontinued operations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Results of Operations for the years ended December&nbsp;31, 2014 and 2013 </I></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For the year ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center"><B>(&#128;&nbsp;in&nbsp;millions&nbsp;and&nbsp;as&nbsp;a&nbsp;%&nbsp;of&nbsp;revenues)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Continuing operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>%</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>%</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Revenue</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,666</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,183</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,024</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Gross profit</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>483</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>471</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(210</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Research and development expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other losses net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(83</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income from operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>150</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>209</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs, net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(58</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(50</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of (losses)/ profits of joint ventures</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income before income taxes</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>91</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>135</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net income from continuing operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income from discontinued operations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net income/(loss)</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shipment volumes (in kt)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,062</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,025</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenue per ton (&#128; per ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,452</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,410</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit margin</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-57- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Revenue </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenue from continuing operations increased by 5% or &#128;171&nbsp;million to &#128;3,666&nbsp;million for the year ended December&nbsp;31,
2014, from &#128;3,495&nbsp;million for the year ended December&nbsp;31, 2013. This increase can be attributed to a 4% increase in volumes shipped and stable average LME prices. On a like-for-like basis, revenues increased by 5%, excluding the
impact of changes in LME metal prices, premiums and currency exchange rates, when compared to the full year 2013. Revenues per ton were stable at &#128;3,452&nbsp;per ton in the year ended December&nbsp;31, 2014 compared to &#128;3,410&nbsp;per ton
in the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our volumes increased by 4%, or 37kt, to 1,062 kt for the year ended December&nbsp;31, 2014
compared to shipments of 1,025 kt for the year ended December&nbsp;31, 2013. The increase reflects higher shipment volumes from our P&amp;ARP and AS&amp;I segment, despite the sale of Ham and Saint-Florentin, two of our soft alloy plants in France.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenues in our A&amp;T segment was stable, at &#128;1,192&nbsp;million for the year ended December&nbsp;31, 2014, from
&#128;1,197&nbsp;million for the year ended December&nbsp;31, 2013. Our volumes decreased by 2%, or 6 kt, to 238 kt for the year ended December&nbsp;31, 2014 from 244 kt for the year ended December&nbsp;31, 2013, mostly attributable to a 4kt
decrease in shipments of our aerospace rolled products. Excluding the impact of LME and foreign exchange, our revenue decreased by 1% over the period, in line with the decrease in shipments and following the adverse impact of a less favorable sales
mix in aerospace and competitive pressure in our non-aerospace applications. Revenue per ton increased by 2% to &#128;5,008/ton for the year ended December&nbsp;31, 2014, from &#128;4,906/ton for the year ended December&nbsp;31, 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenues in our P&amp;ARP segment increased by 7%, or &#128;96&nbsp;million, to &#128;1,568&nbsp;million in the year ended December&nbsp;31,
2014, from &#128;1,472&nbsp;million for the year ended December&nbsp;31, 2013. Excluding the impact of LME and foreign exchange variations, our revenue would have increased by 6% over the period. Shipments increased by 4% or 25 kt, to 620 kt for the
year ended December&nbsp;31, 2014, from 595kt for the year ended December&nbsp;31, 2013, driven by a 20kt or 36% increase in shipments of automotive rolled products as our BiW projects ramped up which contributed &#128;63&nbsp;million to the revenue
increase. Stable packaging shipments contributed an additional &#128;22&nbsp;million to revenue as a result of increased average selling prices, with P&amp;ARP revenue per ton increasing by 2% to &#128;2,529/ton for the year ended December&nbsp;31,
2014, from &#128;2,474/ton for the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenues in our AS&amp;I segment increased by 9%, or
&#128;70&nbsp;million, to &#128;875&nbsp;million for the year ended December&nbsp;31, 2014, from &#128;805&nbsp;million for the year ended December&nbsp;31, 2013. On a like-for-like basis, revenues for AS&amp;I increased by 7% in 2014, adjusting for
the sale of two of our soft alloy plants in 2013 and excluding the favorable effect of LME metal prices, premiums, and foreign exchange impacts. Our segment volumes increased by 9% or 17kt to 208kt for the year ended December&nbsp;31, 2014, from 191
kt for the year ended December&nbsp;31, 2013, driven by an additional 19kt shipped in automotive extruded products. Revenue per ton was stable at &#128;4,207&nbsp;per ton for the year ended December&nbsp;31, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our segment revenues are discussed in more detail in the &#147;&#151;Segment Results&#148; section. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Cost of Sales and Gross Profit </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Cost of sales increased by 5%, or &#128;159&nbsp;million, to &#128;3,183&nbsp;million for the year ended December&nbsp;31, 2014 from
&#128;3,024&nbsp;million for the year ended December&nbsp;31, 2013, in line with the increase in shipments and aluminium prices. Higher LME prices and premiums contributed to a 5%, or &#128;92&nbsp;million, increase in raw materials and consumable
expenses to &#128;1,952&nbsp;million for the year ended December&nbsp;31, 2014, as compared to &#128;1,860&nbsp;million in the year ended December&nbsp;31, 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On a per ton basis, cost of sales increased by 2% to &#128;2,997&nbsp;per ton in the year ended December&nbsp;31, 2014, from
&#128;2,950&nbsp;per ton in the year ended December&nbsp;31, 2013, due primarily to higher spot prices for aluminium and premiums. Our raw materials cost per ton increased by 1% to &#128;1,838&nbsp;per ton in 2014. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-58- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our gross profit benefitted from our accounting for inventory under the weighted average cost
method. Due to LME price movements and the timing of transfers from inventory to cost of sales the metal lag effect improved our gross profit by &#128;27&nbsp;million in the year ended December&nbsp;31, 2014 compared to a negative impact of
&#128;29&nbsp;million in the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Employee benefit expenses recorded in cost of sales increased by 7% or
&#128;36&nbsp;million, to &#128;548&nbsp;million for the year ended December&nbsp;31, 2014, from &#128;512&nbsp;million for the year ended December&nbsp;31, 2013, reflecting increases in salaries and in headcount. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Depreciation and impairment increased by &#128;17&nbsp;million to &#128;49&nbsp;million for the year ended December&nbsp;31, 2014, from
&#128;32&nbsp;million for the year ended December&nbsp;31, 2013, reflecting our level of investments. As a result of the combination of the multiple factors described above, gross profit increased by &#128;12&nbsp;million or 3%, to
&#128;483&nbsp;million for the year ended December&nbsp;31, 2014 from &#128;471&nbsp;million for the year ended December&nbsp;31, 2013. Our gross profit margin remained stable at 13% of revenues in the year ended December&nbsp;31, 2014 and 2013.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Selling and Administrative Expenses </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses decreased by 5%, or &#128;10&nbsp;million, to &#128;200&nbsp;million for the year ended December&nbsp;31,
2014 from &#128;210&nbsp;million for the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Consulting and audit fees decreased by 20%, or
&#128;10&nbsp;million, to &#128;40&nbsp;million for the year ended December&nbsp;31, 2014, from &#128;50&nbsp;million for the year ended December&nbsp;31, 2013. External consulting expenses related primarily to costs incurred in preparing for and
operating as a publicly traded company following our IPO in May 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other selling&nbsp;&amp; administrative expenses, including
personnel expenses recorded in selling and administrative expenses, were stable at &#128;160&nbsp;million in both years ended December&nbsp;31, 2014 and 2013, reflecting our continuous efforts to contain our costs. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Research and Development Expenses </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Research and development expenses increased by 6% or &#128;2&nbsp;million, to &#128;38&nbsp;million in the year ended December&nbsp;31, 2014,
from &#128;36&nbsp;million in the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Restructuring Costs </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Restructuring expenses increased by 50% or &#128;4&nbsp;million, to &#128;12&nbsp;million for the year ended December&nbsp;31, 2014, from
&#128;8&nbsp;million for the year ended December&nbsp;31, 2013. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-59- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Other (losses)/gains&#151;Net </I></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B>(&#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized losses on derivatives</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized (losses)/gains on derivatives at fair value through profit and loss&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(53</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized exchange (losses)/gains from the remeasurement of monetary assets and liabilities&#151; net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood pension plan amendment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss pension plan settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax contractual reimbursements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loss on disposal</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Wise acquisition costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(34</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total other losses net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other losses&#151;net were &#128;83&nbsp;million for the year ended December&nbsp;31, 2014 compared to
&#128;8&nbsp;million for the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other losses-net for the year ended December&nbsp;31, 2014 included
&#128;34&nbsp;million costs in connection with our acquisition of Wise which was finalized in January 2015. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unrealized (losses)/gains on
derivatives held at fair value through profit and loss were a loss of &#128;53&nbsp;million in the year ended December&nbsp;31, 2014 compared to a gain of &#128;12&nbsp;million in the year ended December&nbsp;31, 2013. Of these, unrealized losses on
LME derivatives were &#128;7&nbsp;million in the year ended December&nbsp;31, 2014 compared to &#128;7&nbsp;million in the year ended December&nbsp;31, 2013. Unrealized gains and losses on foreign exchange derivatives relate primarily to the
exposure on a multiple year sale agreement for products sold in U.S. dollars and the appreciation of the U.S. dollar compared to the euro in 2014 led to unrealized losses on foreign exchange derivatives of &#128;41&nbsp;million compared to a gain of
&#128;21&nbsp;million in the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Realized losses on derivatives decreased by &#128;18&nbsp;million, to
&#128;13&nbsp;million for the year ended December&nbsp;31, 2014, from &#128;31&nbsp;million for the year ended December&nbsp;31, 2013. Of these, realized losses on LME derivatives were nil in the year ended December&nbsp;31, 2014 compared to
&#128;29&nbsp;million in the year ended December&nbsp;31, 2013. Realized losses on foreign exchange derivatives were a loss of &#128;12&nbsp;million in the year ended December&nbsp;31, 2014 compared to a loss of &#128;1&nbsp;million in the year
ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the years ended December&nbsp;31, 2014 and 2013, we recognized a &#128;9&nbsp;million and
&#128;11&nbsp;million gain, respectively, associated with amendments to our Ravenswood pension benefit plans reducing employee benefits and resulting in recognition of negative past service cost. In the year ended December&nbsp;31, 2014, we
recognized an &#128;8&nbsp;million gain related to certain contractual reimbursements of income tax from a previous shareholder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Loss on
disposal in the year ended December&nbsp;31, 2014 and 2013 relates primarily to the disposal of our Tarascon sur Ariege plant in October 2014 and our Saint Florentin and Ham plants in May 2013 and amounted to &#128;5&nbsp;million in both periods.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Other Expenses </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other
expenses were &#128;27&nbsp;million in the year ended December&nbsp;31, 2013 (nil in the year ended December&nbsp;31, 2014) and related to fees incurred in connection with our IPO in May 2013, amounting to &#128;24&nbsp;million, and with our
secondary public offerings, amounting to &#128;3 million. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-60- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Finance Cost-Net </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Finance costs&#151;net increased by 16%, or &#128;8&nbsp;million, to &#128;58&nbsp;million for the year ended December&nbsp;31, 2014, from
&#128;50&nbsp;million in the year ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Finance costs increased by &#128;21&nbsp;million, or 31%, to
&#128;88&nbsp;million for the year ended December&nbsp;31, 2014, from &#128;67&nbsp;million for the year ended December&nbsp;31, 2013 as a result of our refinancings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest expense on borrowings increased by &#128;10&nbsp;million to &#128;32&nbsp;million for the year ended December&nbsp;31, 2014, from
&#128;22&nbsp;million for the year ended December&nbsp;31, 2013, mainly attributable to the Senior Notes we issued in May 2014 and December 2014. In the year ended December&nbsp;31, 2014, we recognized: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#128;23&nbsp;million of interest expensed and accrued associated with the May and December Notes (nil in 2013) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#128;7&nbsp;million of interest expensed associated with our 2013 Term Loan, which was repaid with the proceeds from our May 2014 Notes. Our 2013 Term Loan had replaced our 2012 Term Loan we entered into in May 2012
and in the year ended December&nbsp;31, 2013 we recognized &#128;17&nbsp;million and &#128;3&nbsp;million interest associated with our 2013 and 2012 Term Loan, respectively. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Following the refinancing we recognized &#128;15&nbsp;million of exit and arrangement fees related to the repayment of the 2013 Term Loan in the year ended December&nbsp;31, 2014 and &#128;21&nbsp;million following the
repayment of the 2012 Term Loan in the year ended December&nbsp;31, 2013. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest expense on our factoring arrangements
were stable over the period, being &#128;9&nbsp;million for the year ended December&nbsp;31, 2014, and &#128;10&nbsp;million for the year ended December&nbsp;31, 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our realized and unrealized gains and losses on debt derivatives at fair value&#151;net relate to the cross currency swap which was settled
when the 2013 Term Loan was repaid and represent a &#128;29&nbsp;million gain for the year ended December&nbsp;31, 2014 and a &#128;9&nbsp;million loss for the year ended December&nbsp;31, 2013. We also recognized an &#128;11&nbsp;million
gain&#151;net related to unrealized and realized exchange gains on financing activities during the year ended December&nbsp;31, 2013 compared to a &#128;27 million loss for the year ended December 31, 2014, reflecting the strengthening of the U.S.
dollar over the period. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Income Tax </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Income tax expenses decreased by 5% or &#128;2&nbsp;million, to &#128;37&nbsp;million for the year ended December&nbsp;31, 2014, from
&#128;39&nbsp;million for the year ended December&nbsp;31, 2013. Our effective tax rate increased by 12 percentage points from 29% for the year ended December&nbsp;31, 2013 to 41% for the year ended December&nbsp;31, 2014. This 12 percentage point
increase in our effective tax rate reflects the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a 12 percentage point unfavorable impact from the derecognition of the deferred tax assets of one of our Swiss entities, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a 3 percentage point unfavorable impact from liquidation losses in 2014 as opposed to net gains on divestments in 2013, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a 2 percentage point unfavorable impact from non-deductible interest expense primarily in France, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a 5 percentage point favorable impact from the mix of profits as a result of a lower weight of profits in higher tax rate jurisdictions (most notably the United States). </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Net Income for the Year from Continuing Operations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net income from continuing operations was &#128;54&nbsp;million for the year ended December&nbsp;31, 2014 compared to &#128;96&nbsp;million for
the year ended December&nbsp;31, 2013, representing a decrease of &#128;42 million. Gross profit margin remained stable and the decrease was primarily attributable to unrealized losses on derivatives of &#128;53&nbsp;million in
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-61- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
fiscal year 2014 compared to unrealized gains on derivatives of &#128;12&nbsp;million in fiscal year 2013. In addition, fiscal year 2014 was impacted by &#128;34&nbsp;million of transaction costs
related to the acquisition of Wise Metals while the fiscal year 2013 had been impacted by &#128;27&nbsp;million of expenses related to our IPO and subsequent offerings. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Discontinued Operations </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net income from
discontinued operations of &#128;4&nbsp;million in the year ended December&nbsp;31, 2013 (nil in the year ended December&nbsp;31, 2014) represented the impact of the agreement reached with the acquirer of our former AIN business. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Results of Operations for the years ended December&nbsp;31, 2013 and December&nbsp;31, 2012 </I></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For the year ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center"><B>(&#128;&nbsp;in&nbsp;millions&nbsp;and&nbsp;as&nbsp;a&nbsp;%&nbsp;of&nbsp;revenues)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Continuing operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Revenue</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,610</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,024</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,136</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Gross profit</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>471</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>474</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(210</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(212</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Research and development expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(25</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other (losses) /gains &#151;net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income from operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>209</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>263</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs, net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(50</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(60</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of profit / (losses) of joint ventures</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income before income taxes</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>135</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income for the year from continuing operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>149</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income/(loss) from discontinued operations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income/(Loss) for the year</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shipment volumes (in kt)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,025</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,033</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenue per ton (&#128; per ton)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,410</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,495</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit margin</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">n/a</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Revenue </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenue from continuing operations decreased by 3%, or &#128;115&nbsp;million, to &#128;3,495&nbsp;million for the year ended December&nbsp;31,
2013, from &#128;3,610&nbsp;million for the year ended December&nbsp;31, 2012. This decrease can be attributed to declining LME prices across all of our segments, coupled with a marginal decline in volumes shipped. The disposal of two soft alloy
plants in France in May 2013 led to a 19 kt decrease in volumes shipped in our AS&amp;I segment. Revenues per ton decreased by 2%, or &#128;85&nbsp;per ton, to &#128;3,410&nbsp;per ton, in the year ended December&nbsp;31, 2013, from
&#128;3,495&nbsp;per ton for the year ended December&nbsp;31, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Lower LME prices in the year ended December&nbsp;31, 2013 decreased
our revenues by approximately &#128;138&nbsp;million after excluding the revenue generated by our two soft alloy plants sold in May 2013. In the year ended December&nbsp;31, 2013, the average spot rate for LME per ton was &#128;1,390&nbsp;per ton in
comparison to &#128;1,569&nbsp;per ton for the corresponding period of 2012. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-62- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">After adjusting for constant LME prices, exchange rates and the divestiture of the two soft alloy
plants in France, estimated revenues on a comparable basis were 4% ahead of the prior year or &#128;3,473&nbsp;million in 2013 compared to &#128;3,330&nbsp;million in 2012. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A significant portion of our aerospace revenues are invoiced in U.S. dollars therefore in addition to declining LME prices, the weakening of
the U.S. dollar had a &#128;47&nbsp;million negative impact on our 2013 revenue excluding the revenue generated by our two soft alloy plants subsequently sold. The average &#128; to U.S. dollar exchange rate for the year was 1.3271 compared to
1.2847 in 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our volumes remained stable as shipments marginally decreased by 1%, or 8 kt, to 1,025 kt for the year ended
December&nbsp;31, 2013, as compared to shipments of 1,033 kt for the year ended December&nbsp;31, 2012. The decrease reflects higher shipment volumes in our A&amp;T segment marginally offset by lower volumes in our P&amp;ARP segment and the impact
of the sale of Ham and Saint-Florentin, two of our soft alloy plants in France. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our A&amp;T segment increased production during the year
ended December&nbsp;31, 2013 with a 9%, or 20 kt, increase in shipment volumes as a result of increased shipments to our customers in the aerospace industry and by our new multi-year contract with Airbus. Segment revenue increased by
&#128;15&nbsp;million, or 1%, however revenue per ton decreased by 7% to &#128;4,906&nbsp;per ton in the year ended December&nbsp;31, 2013, from &#128;5,277&nbsp;per ton in the year ended December&nbsp;31, 2012. This decrease was attributable to a
less favorable sales mix in aerospace and competitive pressure in non-aerospace as well as the effect of declining LME prices and a weakening of the U.S dollar. After adjusting for constant LME prices and exchange rates, our A&amp;T segment revenue
increased by 5%. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">AS&amp;I volumes and revenues were impacted by the disposal of two plants. Excluding production from our disposed soft
alloy plants, shipment volumes increased by 2% and revenue increased by 3% compared to the same period in 2012. Segment revenue per ton for our AS&amp;I segment increased to &#128;4,215&nbsp;per ton in the year ended December&nbsp;31, 2013 from
&#128;4,180&nbsp;per ton for the year ended December&nbsp;31, 2012, benefiting from an increase in sales of higher priced products in our Automotive Structures applications. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our P&amp;ARP volumes and revenues decreased over the period with revenues declining by &#128;82 million or 5% to &#128;1,472&nbsp;million for
the year ended December&nbsp;31, 2013. This decline was due to shipments decreasing by 2%, or 11kt, the effect of lower LME prices and, to a lesser extent the weakening of the U.S dollar. After adjusting for constant LME prices and exchange rates,
our P&amp;ARP segment revenue increased by 2%. Our P&amp;ARP segment revenue per ton decreased to &#128;2,474&nbsp;per ton in the year ended December&nbsp;31, 2013 from &#128;2,564&nbsp;per ton in the year ended December&nbsp;31, 2012. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our segment revenues are discussed in more detail in the &#147;&#151;Segment Results&#148; section. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Cost of Sales and Gross Profit </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Cost of sales decreased by 4%, or &#128;112&nbsp;million, to &#128;3,024&nbsp;million for the year ended December&nbsp;31, 2013, from
&#128;3,136&nbsp;million for the year ended December&nbsp;31, 2012, in line with the lower input prices of metal. Falling LME prices contributed to a 6%, or &#128;127&nbsp;million, decrease in raw materials and consumable expenses to
&#128;1,860&nbsp;million in the year ended December&nbsp;31, 2013, as compared to &#128;1,987&nbsp;million in the year ended December&nbsp;31, 2012. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Depreciation and impairment increased by &#128;18&nbsp;million to &#128;32&nbsp;million for the year ended December&nbsp;31, 2013, from
&#128;14&nbsp;million for the year ended December&nbsp;31, 2012, reflecting our level of investments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On a per ton basis, cost of sales
decreased by 3% to &#128;2,950&nbsp;per ton in the year ended December&nbsp;31, 2013, from &#128;3,036&nbsp;per ton in the year ended December&nbsp;31, 2012, due to lower spot prices for aluminium. Our raw materials cost per ton decreased by 6% to
&#128;1,815&nbsp;per ton in 2013. The cost of energy increased by &#128;10&nbsp;million due to inflationary factors and higher taxes on energy in Germany, despite the cost saving impact of our productivity initiatives. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-63- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Gross profit remained stable at &#128;471&nbsp;million for the year ended December&nbsp;31, 2013,
from &#128;474&nbsp;million for the year ended December&nbsp;31, 2012. While we gained from the decrease in LME prices, this positive impact was offset by the weakening of the U.S dollar and the increase in depreciation and impairment. Our gross
profit margin remained stable at 13% of revenues in the year ended December&nbsp;31, 2013 and 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our gross profit margin was also
impacted by our accounting for inventory under the weighted average cost method. Due to LME price movements and the timing of transfers from inventory to cost of sales this metal lag effect negatively impacted our gross profit by
&#128;29&nbsp;million in the year ended December&nbsp;31, 2013 compared to a negative impact of &#128;16&nbsp;million in the year ended December&nbsp;31, 2012. This was partially offset by the impact of cost reduction initiatives which contributed
to the reduction of our repairs and maintenance expenses from &#128;91&nbsp;million in the year ended December&nbsp;31, 2012 to &#128;80&nbsp;million in the year ended December&nbsp;31, 2013. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Selling and Administrative Expenses </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses decreased by 1%, or &#128;2&nbsp;million, to &#128;210&nbsp;million for the year ended December&nbsp;31,
2013, from &#128;212&nbsp;million for the year ended December&nbsp;31, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Consulting and audit fees increased by 16%, or
&#128;7&nbsp;million, to &#128;50&nbsp;million for the year ended December&nbsp;31, 2013, from &#128;43&nbsp;million for the year ended December&nbsp;31, 2012. External consulting expenses related primarily to costs incurred in preparing for and
operating as a publicly traded company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other selling&nbsp;&amp; administrative expenses decreased by 5%, or &#128;9&nbsp;million, to
&#128;160&nbsp;million for the year ended December&nbsp;31, 2013, from &#128;169&nbsp;million for the year ended December&nbsp;31, 2012. This decrease reflects our continuing efforts to rationalize our support functions. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Research and Development Expenses </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Research and development expenses were stable at &#128;36&nbsp;million for both years ended December&nbsp;31, 2013 and December&nbsp;31, 2012,
which reflects the continuity of our investment effort in all our segments with &#128;25&nbsp;million and &#128;16&nbsp;million expensed in A&amp;T and P&amp;ARP, respectively for the year ended December&nbsp;31, 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Research and development expenses in the year ended December&nbsp;31, 2012 were primarily incurred in our A&amp;T segment of which
&#128;24&nbsp;million was in relation to further development of our AIRWARE<SUP STYLE="font-size:85%; vertical-align:top">&reg;</SUP>&nbsp;product. Our P&amp;ARP segment incurred &#128;12&nbsp;million across a number of various development projects
which are ongoing and our AS&amp;I segment reduced its research and development spend by &#128;2&nbsp;million as part of its cost efficiency program. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Restructuring Costs </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Restructuring
expenses decreased by 68%, or &#128;17&nbsp;million, to &#128;8&nbsp;million for the year ended December&nbsp;31, 2013, from &#128;25&nbsp;million for the year ended December&nbsp;31, 2012 as the restructuring initiatives have either been completed
or are in their final phase. Our expense in the year ended December&nbsp;31, 2013 was in relation to continued restructuring initiatives at a corporate level and to an extent at our segment level. Our expenses in the year ended December&nbsp;31,
2012 were due to initiatives at our sites, primarily in Sierre, Switzerland, where we incurred &#128;7&nbsp;million during the period, as well as restructuring in other sites and at our corporate support services location in Paris. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-64- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Other (losses) / gains&#151;Net </I></B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B>(&#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized losses on derivatives</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized gains on derivatives at fair value through profit and loss&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized exchange gains / (losses) from the remeasurement of monetary assets and liabilities&#151; net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood pension plan amendment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss pension plan settlement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood CBA renegotiation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loss on disposal</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total other (losses) / gains&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>62</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other losses&#151;net were &#128;8&nbsp;million for the year ended December&nbsp;31, 2013, compared to a gain
of &#128;62&nbsp;million for the year ended December&nbsp;31, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unrealized gains on derivatives held at fair value through profit and
loss decreased by &#128;49&nbsp;million to &#128;12&nbsp;million in the year ended December&nbsp;31, 2013, from &#128;61&nbsp;million for the year ended December&nbsp;31, 2012. Unrealized gains in the year ended December&nbsp;31, 2013 included
&#128;21&nbsp;million of unrealized gains on foreign exchange derivatives and &#128;7&nbsp;million of unrealized losses on LME derivatives compared to &#128;35&nbsp;million of unrealized gains on foreign exchange derivatives and
&#128;25&nbsp;million of unrealized gains on LME derivatives in the year ended December&nbsp;31, 2012, reflecting the volatility in LME prices and the weakening of the U.S. dollar against the euro. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Realized losses on derivatives decreased by &#128;14&nbsp;million to &#128;31&nbsp;million loss in the year ended December&nbsp;31, 2013 from
&#128;45&nbsp;million loss for the year ended December&nbsp;31, 2012. Realized losses on derivatives for the year ended December&nbsp;31, 2013 included realized losses on LME derivatives for &#128;29&nbsp;million and realized losses on foreign
exchange derivatives for &#128;1&nbsp;million compared to realized losses on LME derivatives for &#128;29&nbsp;million and realized losses on foreign exchange derivatives for &#128;15&nbsp;million in the year ended December&nbsp;31, 2012. Realized
losses on LME derivatives in the years ended December&nbsp;31, 2013 and 2012 reflect the decrease of LME prices over the period and offset reductions in the underlying purchases of aluminium in cost of sales. Realized losses on foreign exchange
derivatives relate primarily to forward sales of U.S. Dollars entered into in connection with multi-year sales agreements denominated in U.S. Dollars and offset increases of the underlying sales recorded in revenue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the year ended December&nbsp;31, 2013, we recognized an &#128;11&nbsp;million gain and in the year ended December&nbsp;31, 2012, a
&#128;58&nbsp;million gain associated with amendments to our Ravenswood pension plan reducing employee benefits resulting in recognition of negative past service cost. In the year ended December&nbsp;31, 2012, we recognized an &#128;8&nbsp;million
loss related to the transfer of our Swiss pension plans to a new foundation and adjustments of assets and employee benefits. This led to a partial liquidation and triggered a settlement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the third quarter of 2012, the collective bargaining agreement (CBA) regulating working conditions at Ravenswood was renegotiated and a
new five-year CBA was put in place. Costs of &#128;7&nbsp;million were incurred during these renegotiations, related to professional fees including legal expenses and bonuses related to the successful resolution of this renewed five-year agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Loss on disposal in the year ended December&nbsp;31, 2013 relates primarily to the disposal of our Saint Florentin and Ham plants. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-65- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Other Expenses </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other expenses were &#128;27&nbsp;million in the year ended December&nbsp;31, 2013 as compared to &#128;3&nbsp;million expenses in the year
ended December&nbsp;31, 2012. In the year ended December&nbsp;31, 2013 these expenses related to fees incurred in connection with our IPO in May 2013, amounting to &#128;24&nbsp;million, and with our secondary public offerings, amounting to &#128;3
million. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Finance Cost-Net </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Finance costs&#151;net decreased by 17%, or &#128;10&nbsp;million, to &#128;50&nbsp;million in the year ended December&nbsp;31, 2013, from
&#128;60&nbsp;million for the year ended December&nbsp;31, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Finance costs increased by &#128;3&nbsp;million, or 5%, to
&#128;67&nbsp;million for the year ended December&nbsp;31, 2013, from &#128;64&nbsp;million for the year ended December&nbsp;31, 2012. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest expense on borrowings and factoring arrangements and exit and unamortized arrangement fees increased by &#128;14&nbsp;million, or
36%, to &#128;53&nbsp;million for the year ended December&nbsp;31, 2013, from &#128;39&nbsp;million for the year ended December&nbsp;31, 2012, due to the New Term Loan we entered into in March 2013. Our New Term Loan replaced the Original Term Loan
entered into in May 2012 which in turn repaid our Shareholder Loan. In the year ended December&nbsp;31, 2013, we recognized &#128;8&nbsp;million and &#128;13&nbsp;million of unamortized exit and arrangement fees, respectively, on the termination of
the Original Term Loan. In the year ended December&nbsp;31, 2012, we recognized &#128;5&nbsp;million of unamortized fees associated with the termination of the Shareholder Loan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Over the period, the expenses associated with the amortization of our factoring arrangements were stable at &#128;3&nbsp;million for each of
the years ended December&nbsp;31, 2012 and 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This increase in finance costs was offset by the decrease in realized and unrealized
losses on debt derivatives at fair value which we entered into to minimize our exposure to foreign exchange rate volatility on the U.S.&nbsp;Dollar portion of our Term Loan. The realized and unrealized gains and losses for the year ended
December&nbsp;31, 2013 was a net loss of &#128;9&nbsp;million (&#128;4 million gain and &#128;13&nbsp;million loss, respectively), in comparison to a loss of &#128;18&nbsp;million for the year ended December&nbsp;31, 2012, reflecting the changes in
fair value of our cross currency interest rate swaps. We also recognized a &#128;11&nbsp;million unrealized and realized exchange gain on our foreign currency derivatives in the year ended December&nbsp;31, 2013 (nil in the year ended
December&nbsp;31, 2012). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Income Tax </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An income tax charge of &#128;39&nbsp;million was recognized for the year ended December&nbsp;31, 2013, from &#128;46&nbsp;million for the year
ended December&nbsp;31, 2012. Our effective tax rate increased by 5 percentage points from 24% for the year ended December&nbsp;31, 2012 to 29% for the year ended December&nbsp;31, 2013. This 5 percentage point increase in our effective tax rate
reflects the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the 2012 effective tax rate was favorably impacted by the use of unrecognized deferred tax assets, resulting in a 14 percentage point increase in 2013. The use of unrecognized deferred tax assets in 2012 resulted from
the gain on Ravenswood OPEB pension plan amendments. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a 6 percentage point favorable impact from increases in tax credits and reimbursements, primarily with respect to our operations in the United States; and, </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">a 3 percentage point favorable impact from the mix of profits as a result of a lower weight of profits in higher tax rate jurisdictions (most notably the United States). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-66- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Net Income for the Year from Continuing Operations </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net income from continuing operations was &#128;96&nbsp;million for the year ended December&nbsp;31, 2013, compared to &#128;149&nbsp;million
for the year ended December&nbsp;31, 2012, representing a decrease of &#128;53 million. Gross profit margin remained stable and net income was impacted by &#128;24&nbsp;million of IPO related expenses and the &#128;49&nbsp;million decrease in
unrealized gains and losses on derivatives at fair value. Our net income from continuing operations for the year ended December&nbsp;31, 2012 also included a &#128;58&nbsp;million gain relating to the amendment of our Ravenswood other
post-employment benefits (&#147;OPEB&#148;) plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Discontinued Operations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net income from discontinued operations of &#128;4&nbsp;million in the year ended December&nbsp;31, 2013 represented the impact of the
agreement reached with the buyer of our AIN business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Losses from discontinued operations of &#128;8&nbsp;million were incurred in the
year ended December&nbsp;31, 2012 in respect of our AIN business and is mostly related to restructuring, separation and completion costs. All operations were ceased in 2012. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Segment Results </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Segment Revenue </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table sets forth the revenues for our operating segments for the periods presented: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="22" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For the year ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="22" ALIGN="center"><B>(millions of &#128; and as a % of revenue)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A&amp;T</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,192</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,197</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">P&amp;ARP</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,568</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,554</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">AS&amp;I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">875</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">805</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">861</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holdings and Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total revenues from continuing operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,666</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,610</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>A&amp;T.</I></B> Revenues in our A&amp;T segment was stable, at &#128;1,192&nbsp;million for the year
ended December&nbsp;31, 2014, from &#128;1,197&nbsp;million for the year ended December&nbsp;31, 2013. Our volumes decreased by 2%, or 6 kt, to 238 kt for the year ended December&nbsp;31, 2014 from 244 kt for the year ended December 31, 2013, mostly
attributable to a 4kt decrease in shipments of our aerospace rolled products. Excluding the impact of LME and foreign exchange, our revenue decreased by 1% over the period, in line with the decrease in shipments and following the adverse impact of a
less favorable sales mix in aerospace and competitive pressure in our non-aerospace applications. Revenue per ton increased by 2% to &#128;5,008 / ton for the year ended December&nbsp;31, 2014, from &#128;4,906 / ton for the year ended
December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenues in our A&amp;T segment increased by 1%, or &#128;15&nbsp;million, to &#128;1,197&nbsp;million for the
year ended December&nbsp;31, 2013 compared to &#128;1,182&nbsp;million for the year ended December&nbsp;31, 2012. Our volumes increased by 9%, or 20 kt, to 244 kt for the year ended December&nbsp;31, 2013 from 224 kt for the year ended
December&nbsp;31, 2012 mainly in our aerospace applications at Issoire and Ravenswood. Revenues were negatively affected by lower LME prices and the weakening of the U.S dollar which had a combined &#128;44&nbsp;million negative impact, as well as,
a less favorable sales mix in aerospace and competitive pressure in our non-aerospace applications. Revenue per ton decreased by 7% from &#128;5,277&nbsp;per ton for the year ended December&nbsp;31, 2012 to &#128;4,906&nbsp;per ton for the year
ended December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>P&amp;ARP</I></B><I></I><B>.</B><I> </I><B><I></I></B>Revenues in our P&amp;ARP segment increased by
7%, or &#128;96&nbsp;million, to &#128;1,568&nbsp;million in the year ended December&nbsp;31, 2014, from &#128;1,472&nbsp;million for the year ended December&nbsp;31, 2013. Excluding the impact of<B><I>
</I></B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-67- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>
</I></B>LME and foreign exchange variations, our revenue would have increased by 6% over the period. Shipments increased by 4% or 25&nbsp;kt, to 620 kt for the year ended December&nbsp;31, 2014,
from 595kt for the year ended December&nbsp;31, 2013, driven by a 20kt or 36% increase in shipments of automotive rolled products as our BiW projects ramped up which contributed &#128;63&nbsp;million to the revenue increase. Stable packaging
shipments contributed an additional &#128;22&nbsp;million to revenue as a result of increased average selling prices, with segment revenue per ton increasing by 2% to &#128;2,529 / ton for the year ended December&nbsp;31, 2014, from &#128;2,474 /
ton for the year ended December&nbsp;31, 2013.<B><I> </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenues in our P&amp;ARP segment decreased by 5%, or &#128;82&nbsp;million,
to &#128;1,472&nbsp;million for the year ended December&nbsp;31, 2013 from &#128;1,554&nbsp;million for the year ended December&nbsp;31, 2012. Volumes decreased by 2% or 11&nbsp;kt, mainly in our packaging applications and despite the 27% increase
in shipments in our Body-in-White applications. Lower LME prices and foreign exchange variations had a combined negative impact of &#128;107&nbsp;million over the period. Revenue per ton decreased by 4%, or &#128;90&nbsp;per ton to
&#128;2,474&nbsp;per ton for the year ended December&nbsp;31, 2013, from &#128;2,564&nbsp;per ton as our improved product mix did not fully offset the decline in LME prices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>AS&amp;I</I></B><I></I><B>.</B><I> </I><B><I></I></B>Revenues in our AS&amp;I segment increased by 9%, or &#128;70&nbsp;million, to
&#128;875&nbsp;million for the year ended December&nbsp;31, 2014, from &#128;805&nbsp;million for the year ended December&nbsp;31, 2013. On a like-for-like basis, revenues for AS&amp;I increased by 7% in 2014, adjusting for the sale of two of our
soft alloy plants in 2013 and excluding the favorable effect of LME metal prices, premiums, and foreign exchange impacts. Our segment volumes increased by 9% or 17kt to 208kt for the year ended December&nbsp;31, 2014, from 191 kt for the year ended
December&nbsp;31, 2013, driven by an additional 19kt shipped in automotive extruded products. Revenue per ton was stable at &#128;4,207&nbsp;per ton for the year ended December&nbsp;31, 2014.<B><I> </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenues in our AS&amp;I segment decreased by 7%, or &#128;56&nbsp;million, to &#128;805&nbsp;million for the year ended December&nbsp;31,
2013, from &#128;861&nbsp;million in the year ended December&nbsp;31, 2012. Our segment volumes decreased by 7% to 191 kt for the year ended December&nbsp;31, 2013 from 206 kt for the year ended December&nbsp;31, 2012. If volumes are adjusted to
reflect the disposal of our two soft alloy plants in France, shipment volumes increased by 2%, and revenue increased by 3% compared to the same period in 2012. Our automotive structures shipments increased by 15% for the year ended December&nbsp;31,
2013 from the equivalent period in 2012 due to the ramp up of projects. This was offset by lower soft alloy volumes as competitive pressures remained strong. Lower LME prices and foreign exchange variations had a combined negative impact of
&#128;33&nbsp;million over the period. Our revenue per ton increased by 1%, or &#128;35&nbsp;per ton, to &#128;4,215&nbsp;per ton in the year ended December&nbsp;31, 2013, from &#128;4,180&nbsp;per ton in the year ended December&nbsp;31, 2012,
driven by the good performance of the automotive structures applications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Holdings and Corporate</I></B><B>.</B><B><I></I></B>
Revenues in the Holdings and Corporate segment for the years ended December&nbsp;31, 2014 and 2013 related primarily to metal sales to our former soft alloy plants. Revenues in the Holdings and Corporate segment for the years ended December&nbsp;31,
2012 included revenues generated by our forging businesses. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Adjusted EBITDA </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In considering the financial performance of the business, management analyzes the primary financial performance measure of Adjusted EBITDA in
all of our business segments as defined and required under the covenants contained in our financing facilities. Adjusted EBITDA is not a measure defined by IFRS. The most directly comparable IFRS measure to Adjusted EBITDA is our profit or loss for
the relevant period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe Adjusted EBITDA, as defined below, is useful to investors as it excludes items which do not impact our
day-to-day operations and which management in many cases does not directly control or influence. Similar concepts of adjusted EBITDA are frequently used by securities analysts, investors and other interested parties in their evaluation of our
company and in comparison to other companies, many of which present an adjusted EBITDA-related performance measure when reporting their results. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-68- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA is defined as profit for the period from continuing operations before results
from joint venture, net financial expenses, income taxes and depreciation, amortization and impairment as adjusted to exclude losses on disposal of property, plant and equipment, acquisition and separation costs, restructuring costs and unrealized
gains or losses on derivatives and on foreign exchange differences, favorable (unfavorable) metal price lag, exceptional consulting costs, effects of purchase accounting adjustments, Apollo management fees, exceptional employee bonuses in relation
to cost saving implementation and targets, and certain exceptional or incremental costs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA has limitations as an analytical
tool. It is not a recognized terms under IFRS and therefore does not purport to be an alternative to operating profit as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA is not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider these
performance measures in isolation from, or as a substitute analysis for, our results of operations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table shows
Constellium&#146;s consolidated Adjusted EBITDA for the years ended December&nbsp;31, 2014, 2013 and 2012: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="22" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For the year ended December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="22" ALIGN="center"><B>(millions&nbsp;of&nbsp;&#128;&nbsp;and&nbsp;as&nbsp;a&nbsp;%&nbsp;of&nbsp;segment&nbsp;revenue)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A&amp;T</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">P&amp;ARP</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">AS&amp;I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holdings and Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(23</TD>
<TD NOWRAP VALIGN="bottom">%)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">%)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(21</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(162</TD>
<TD NOWRAP VALIGN="bottom">%)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Adjusted EBITDA</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>275</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>280</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>223</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Total Adjusted EBITDA for the year ended December&nbsp;31, 2014 was &#128;275&nbsp;million, a slight decrease
compared to &#128;280&nbsp;million of total adjusted EBITDA for the year ended December&nbsp;31, 2013. This decrease reflected an unfavorable impact of higher metal premiums of &#128;23&nbsp;million, partially compensated by a positive foreign
exchange rates effect of &#128;12&nbsp;million as well as strong performance in our P&amp;ARP and AS&amp;I segments offset by weaker performance in our A&amp;T segment as a result of operational challenges and capacity constraints. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>A&amp;T</I></B><B>.</B> Adjusted EBITDA in our A&amp;T segment decreased by 24%, or &#128;29&nbsp;million, for the year ended
December&nbsp;31, 2014 to &#128;91&nbsp;million, compared to &#128;120&nbsp;million for the year ended December&nbsp;31, 2013. Adjusted EBITDA in our A&amp;T segment decreased to &#128;380&nbsp;per ton for the year ended December&nbsp;31, 2014 from
&#128;491&nbsp;per ton for the year ended December&nbsp;31, 2013. This decrease reflected the lower shipments for &#128;7&nbsp;million and a negative price and mix effect for &#128;28&nbsp;million, including &#128;8&nbsp;million related to the
increase in premiums throughout the year. The performance of our A&amp;T segment for the year ended December&nbsp;31, 2014, was also impacted by capacity constraints and operational issues, including significant unplanned equipment outages at our
Ravenswood facility in the first and fourth quarters. This was partially offset by lower costs for &#128;2&nbsp;million and the positive impact of the strengthening of the U.S. dollar for &#128;8 million. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA in our A&amp;T segment increased by 13%, or &#128;14&nbsp;million, for the year ended December&nbsp;31, 2013 to
&#128;120&nbsp;million, compared to &#128;106&nbsp;million for the year ended December&nbsp;31, 2012. Adjusted EBITDA in our A&amp;T segment increased by 4% or &#128;19&nbsp;per ton to &#128;491&nbsp;per ton for the year ended December&nbsp;31, 2013
from &#128;472&nbsp;per ton for the year ended December&nbsp;31, 2012. This increase reflected the &#128;58&nbsp;million positive effect of increased shipments mainly associated with the aerospace sector, notably as a result of the new multi-year
contract entered into with Airbus. This positive trend was partly offset by a less favorable product mix within aerospace and pressure on prices in non-aerospace applications representing &#128;41&nbsp;million for the period. Costs and
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-69- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
inflationary effects increased by a further &#128;13&nbsp;million, following the increase in shipments while foreign exchange variations had a limited impact. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>P&amp;ARP</I></B><B>.</B> Adjusted EBITDA in our P&amp;ARP segment increased by 12%, or &#128;13&nbsp;million, to &#128;118&nbsp;million
for the year ended December&nbsp;31, 2014, from &#128;105&nbsp;million for the year ended December&nbsp;31, 2013. Adjusted EBITDA per ton increased by 8% over the same period, to &#128;190&nbsp;per ton for the year ended December&nbsp;31, 2014, from
&#128;176&nbsp;per ton for the year ended December&nbsp;31, 2013, driven by increases across all product categories. Increased shipments in automotive rolled products contributed to a &#128;14&nbsp;million increase while price and mix had a limited
negative effect of &#128;1&nbsp;million as the impact of a richer mix was offset by &#128;6&nbsp;million of increase in premiums not passed through to customers. Costs and inflation led to a &#128;7&nbsp;million decrease, mostly associated with
labor inflation, while foreign exchange had a &#128;4&nbsp;million positive impact. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA in our P&amp;ARP segment increased by
14%, or &#128;13&nbsp;million, to &#128;105&nbsp;million for the year ended December&nbsp;31, 2013, from &#128;92&nbsp;million for the year ended December&nbsp;31, 2012. Drivers of the increase in Adjusted EBITDA the improved pricing and product mix
in our rigid packaging and Body in White solutions contributing &#128;11&nbsp;million as well as improved productivity and cost saving initiatives which offset inflationary effects on labor and energy, representing a further &#128;2&nbsp;million and
foreign exchange variations which led to another additional &#128;3 million. The 2% decrease in shipments over the period had a &#128;5&nbsp;million effect on Adjusted EBITDA. Adjusted EBITDA per ton increased by 15% or &#128;23&nbsp;per ton, from
&#128;153&nbsp;per ton for the year ended December&nbsp;31, 2012 to &#128;176&nbsp;per ton for the year ended December&nbsp;31, 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>AS&amp;I</I></B><B>.</B> Adjusted EBITDA in our AS&amp;I segment increased by 26%, or &#128;15&nbsp;million, for the year ended
December&nbsp;31, 2014 to &#128;73&nbsp;million, compared to &#128;58&nbsp;million for the year ended December&nbsp;31, 2013. Adjusted EBITDA per ton in our AS&amp;I segment increased by 16% to &#128;351&nbsp;per ton for the year ended
December&nbsp;31, 2014 from &#128;311&nbsp;per ton for the year ended December&nbsp;31, 2013, driven by positive contributions from all product lines. The 9% increase in shipments represented a further &#128;24&nbsp;million, partially offset by
&#128;13&nbsp;million incremental costs and inflation, mainly related to labor inflation, a &#128;1&nbsp;million negative price and mix effect including &#128;9&nbsp;million impact of the increase in premiums which were not passed through to
customers, and &#128;1&nbsp;million associated with the unfavorable change in foreign exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA in our AS&amp;I segment
increased by 26%, or &#128;12&nbsp;million, for the year ended December&nbsp;31, 2013 to &#128;58&nbsp;million, compared to &#128;46&nbsp;million for the year ended December&nbsp;31, 2012. Adjusted EBITDA in our AS&amp;I segment increased to
&#128;311&nbsp;per ton for the year ended December&nbsp;31, 2013 from &#128;225&nbsp;per ton for the year ended December&nbsp;31, 2012. This increase reflects the &#128;13&nbsp;million impact of the increase in shipments from our automotive
structures application combined with a &#128;4&nbsp;million reduction in our costs partially offset by negative pricing in Soft Alloys, deteriorating mix in Extrusions and inflationary factors effects amounting to a combined &#128;10 million.
Foreign exchange variations contributed &#128;2&nbsp;million to Adjusted EBITDA over the period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B><I>Holdings and
Corporate</I></B><B>.</B> Our Holdings and Corporate segment generated Adjusted EBITDA losses of &#128;7&nbsp;million, &#128;3&nbsp;million and &#128;21&nbsp;million in the years ended December&nbsp;31, 2014, 2013 and 2012. Our Holdings and
Corporate costs increased in the year ended December&nbsp;31, 2014 compared to the previous year reflecting primarily the additional support and administrative costs needed to operate as a public company for a full year. Holdings and Corporate costs
decreased in the year ended December&nbsp;31, 2013 compared to the previous year reflecting primarily our efforts to reduce the higher support and administrative costs that were necessary in the years following our formation in January 2011. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-70- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table reconciles our profit or loss for the period from continuing operations to
our Adjusted EBITDA for the years presented: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2014&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2013&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2012&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B>(&#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Profit for the period from continuing operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>149</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses(a)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of profit from joint ventures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation and amortization</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Impairment charges</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs(b)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized exchange losses / (gains) from the remeasurement of monetary assets and liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized (gains) / losses on derivatives at fair value</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(61</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss pension settlements(c)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood benefit plan amendment(d)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(58</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood CBA renegotiation(e)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Losses on disposals and assets classified as held for sale(f)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Metal price lag(g)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Apollo management fee(h)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transition, start-up and development costs(i)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exceptional employee bonuses in relation to cost savings and turnaround plans(j)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other(k)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Adjusted EBITDA</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>275</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>280</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>223</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top">Represents costs incurred in connection with our IPO and secondary offerings amounting to &#128;27&nbsp;million for the year ended December&nbsp;31, 2013. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top">Restructuring costs represent one-time termination benefits or severance, plus contract termination costs, primarily related to equipment and facility lease obligations. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top">Represents a loss generated by a settlement on withdrawal from the foundation that administered its employee benefit plan in Switzerland of &#128;8 million in 2012 and a gain of &#128;6&nbsp;million in 2014 resulting
from a plan modification. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(d)</TD>
<TD ALIGN="left" VALIGN="top">Represents (i)&nbsp;a &#128;58&nbsp;million gain due to several amendments of our Ravenswood plan in 2012 and (ii)&nbsp;a gain of &#128;11&nbsp;million and &#128;9&nbsp;million related to our amendments to our
Ravenswood benefit plans in the year ended December&nbsp;31, 2013 and the year ended December&nbsp;31, 2014, respectively. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(e)</TD>
<TD ALIGN="left" VALIGN="top">Represents non-recurring professional fees, including legal fees and bonuses in relation to the successful renegotiation of the 5-year collective bargaining agreement at our Ravenswood manufacturing site in September
2012. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(f)</TD>
<TD ALIGN="left" VALIGN="top">Represents primarily losses on disposal of our plants in Ham and Saint Florentin, France and other European assets in the year ended December&nbsp;31, 2013 and in the year ended December&nbsp;31, 2014 it primarily
relates to our assets held for sale in our A&amp;T segment, including our plant in Tarascon-sur-Ari&egrave;ge, France, which was sold on October&nbsp;27, 2014. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(g)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">Represents the financial impact of the timing difference between when aluminium prices included within our revenues are established and when aluminium
purchase prices included in our cost of sales are established. We account for inventory using a weighted average price basis and this adjustment is to remove the effect of volatility in aluminium prices. This lag will, generally, increase our
earnings in times of rising </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-71- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
primary aluminium prices and decrease our earnings in times of declining primary aluminium prices. The calculation of our metal price lag is based on an internal standardized methodology
calculated at each of our manufacturing sites and is calculated as the average value of product recorded in inventory, which approximates the spot price in the market, less the average value transferred out of inventory, which is the weighted
average of the metal element of our cost of goods sold, by the quantity sold in the period. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(h)</TD>
<TD ALIGN="left" VALIGN="top">Represents the annual Apollo management fee, which was equal to the greater of $2 million per annum or 1% of our Adjusted EBITDA measure before such fees, as defined in the Pre-IPO Shareholders Agreement of the years
ended December&nbsp;31, 2012 and 2013. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">Represents start-up costs related to new sites and business development initiatives amounting to (i)&nbsp;&#128;7&nbsp;million in the year ended December&nbsp;31, 2013 and (ii)&nbsp;&#128;11&nbsp;million in the year
ended December&nbsp;31, 2014, of which &#128;6&nbsp;million related to the expansion of our site in Van Buren, U.S. and &#128;5&nbsp;million related to Body In White growth projects both in Europe and in the U.S. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(j)</TD>
<TD ALIGN="left" VALIGN="top">Represents one-off bonuses under a two-year plan, paid to selected employees in relation to the achievement of cost savings targets and the costs of a bonus plan in relation to the turnaround program at our Ravenswood
site. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(k)</TD>
<TD ALIGN="left" VALIGN="top">Other adjustments are as follows: (i)&nbsp;in the year ended December&nbsp;31, 2012, the exceptional costs incurred in respect of our IPO efforts; (ii)&nbsp;in the year ended December&nbsp;31, 2013, incremental costs
relating to our transition from a private to a public company for &#128;9&nbsp;million (including costs incurred in connection with the amendment of our management equity program following our IPO), scoping costs on the sale of existing sites for
&#128;2&nbsp;million and other adjustments for &#128;2 million; and (iii)&nbsp;in the year ended December&nbsp;31, 2014, &#128;4&nbsp;million of share-based payment expense and costs associated with our management equity program,
&#128;34&nbsp;million of fees related to the Wise Acquisition, &#128;2&nbsp;million of scoping costs, &#128;8&nbsp;million of income tax contractual reimbursement from one of our former shareholders and &#128;6&nbsp;million of other adjustments.
</TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Quarterly Financial Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The table below presents summary financial and operating data for our quarters in the fiscal years ended December&nbsp;31, 2013 and 2014: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q4</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q4</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B>(&#128; in millions unless otherwise stated)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="30" ALIGN="center"><B>(unaudited)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Statement of income data (continuing operations):</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenue</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">883</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">920</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">927</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">936</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">911</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">916</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">862</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">806</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(766</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(790</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(799</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(828</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(784</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(788</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(748</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(704</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gross profit</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">117</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income from operations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income before income taxes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(22</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Income/(Loss) for the year from continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Other operational and financial data:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net trade working capital</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">285</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">295</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">299</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">204</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">401</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">373</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">320</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change in net trade working capital</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(63</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(112</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Capital expenditure</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Volumes (in kt)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">269</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">279</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">266</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">248</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">260</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">274</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">257</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">234</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenue per ton (&#128; per ton)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,283</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,297</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,485</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,789</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,504</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,343</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,354</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,444</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA per ton (&#128; per ton)*</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">263</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">291</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">269</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">207</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">280</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">309</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">247</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">253</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Adjusted EBITDA per ton is calculated on unrounded underlying figures. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-72- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q4</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Q4</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B>(&#128; in millions unless otherwise stated)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="30" ALIGN="center"><B>(unaudited)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Continuing operations*</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income/(Loss) for the year from continuing operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>41</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>33</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of (profit)/loss from joint ventures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation and impairment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized/(gains) losses on derivatives at fair value and exchange gains from the remeasurement of monetary assets and
liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(33</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pension settlement and amendment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Losses /(gains) on disposals and assets held for sale</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Metal price lag</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Apollo management fee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transition, start-up and development costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Adjusted EBITDA</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>71</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>81</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>51</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>85</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>64</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>59</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Please see the reconciliation in &#147;&#151;Segment Results.&#148; </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Covenant Compliance </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our debt agreements contain customary covenants and events of default that, among other things, restrict, subject to certain exceptions, our
ability and the ability of our subsidiaries, to incur indebtedness, sell assets, make investments, engage in acquisitions, mergers or consolidations and make dividends and other restricted payments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our ABL Facility described in &#147;Item 10. Additional Information&#150;&#150;C. Material Contracts&#148;&#151;the &#147;ABL Facility&#148;,
contains a financial maintenance covenant that requires Constellium Rolled Products Ravenswood, LLC to maintain excess availability of the greater of (i)&nbsp;$10 million and (ii)&nbsp;10% of the aggregate revolving loan commitments. Constellium
Rolled Products Ravenswood, LLC is currently in compliance with this financial maintenance covenant. The ABL Facility also contains customary negative covenants on liens, investments and restricted payments related to Ravenswood, LLC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We were in compliance with our covenants throughout 2014 and 2013 and as of December&nbsp;31, 2014 and 2013. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Liquidity and Capital Resources </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our
primary sources of cash flow have historically been cash flows from operating activities and funding or borrowings from external parties and related parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As part of our cash flow management, we have improved our net working capital through procurement initiatives designed to leverage economies
of scale and improve terms of payment to suppliers, as well as through </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-73- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
collection initiatives designed to improve our billings and collections processes to reduce outstanding receivables. Our net working capital as a percentage of annual revenue decreased from 8% in
2012 to 6% in 2013 and 2014. We define net working capital days, days of inventories, days of payables and days of sales outstanding as net trade working capital, inventories, trade payables and trade receivables divided by revenues for the last
quarter, multiplied by 90, respectively. Net trade working capital is inventories plus trade receivables net, less trade payables. We believe this measure helps users of the financial statements compare our cash management from period to period and
against our peers in respect to our efficiency of working capital employed and the ability to provide sufficient liquidity in the short and long term. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based on our current and anticipated levels of operations, and the condition in our markets and industry, we believe that our cash on hand,
cash flows from operations, and availability under our Term Loan and revolving credit facilities will enable us to meet our working capital, capital expenditures, debt service and other funding requirements for the foreseeable future. However, our
ability to fund working capital needs, debt payments and other obligations, and to comply with the financial covenants in the Term Loan Agreement, depends on our future operating performance and cash flows and many factors outside of our control,
including the costs of raw materials, the state of the overall industry and financial and economic conditions and other factors, including those described under &#147;Item 3. Key Information&#150;&#150;D. Risk Factors.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">It is our policy to hedge all highly probable or committed foreign currency operating cash flows. As we have significant third party future
receivables denominated in U.S. dollars, we enter into combinations of forward contracts and currency options with financial institutions, selling forward U.S. dollars against euros. In addition, as discussed in &#147;Item 4. Information on the
Company&#151;B. Business Overview&#151;Managing our Metal Price Exposure,&#148; when we are unable to align the price and quantity of physical aluminium purchases with that of physical aluminium sales, we enter into derivative financial instruments
to pass through the exposure to metal price fluctuations to financial institutions at the time the price is set. As the U.S. dollar appreciates versus the euro or the LME price for aluminium falls, the derivative contracts entered into with
financial institution counterparties have a negative mark-to-market. Our financial institution counterparties may require margin calls should our negative mark-to-market exceed a pre-agreed contractual limit. In order to protect the Company from the
potential margin calls for significant market movements, we hold a significant liquidity buffer in cash or in availability under our various borrowing facilities, we enter into derivatives with a large number of financial counterparties and we
monitor margin requirements on a daily basis for adverse movements in the U.S. dollar versus the euro and in aluminium prices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At
December&nbsp;31, 2014, the margin requirement related to aluminium hedges was zero (as of December&nbsp;31, 2013, margin posted on aluminium hedges was also zero). As of December&nbsp;31, 2014, the margin requirement related to foreign exchange
hedges was zero (as of December&nbsp;31, 2013, margin posted on foreign exchange hedges was &#128;11 million). Throughout the year 2014, there were no margins posted related to foreign exchange derivatives. The highest margin posted in 2013 related
to foreign exchange derivatives was &#128;20&nbsp;million on January&nbsp;3, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At December&nbsp;31, 2014, we had
&#128;1,300&nbsp;million of total liquidity, comprised of &#128;989&nbsp;million in cash and cash equivalents, &#128;42&nbsp;million of undrawn credit facilities under our ABL Facility, &#128;120&nbsp;million available under our Unsecured Revolving
Credit Facility, and &#128;149&nbsp;million available under our factoring arrangements. Our liquidity position was reinforced by the $400 million and &#128;240&nbsp;million bond offerings completed in December, 2014. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-74- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cash Flows </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table summarizes our operating, investing and financing activities for the years ended December&nbsp;31, 2012, 2013 and 2014:
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2014&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2013&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2012&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center"><B>(&#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net cash provided by / (used) in:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating activities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">212</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">184</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">246</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Investing activities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(216</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(132</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(131</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Financing activities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">753</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(86</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net increase in cash and cash equivalents</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>749</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>95</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Net cash from operating activities </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net cash from operating activities increased by &#128;28&nbsp;million, from an inflow of &#128;184&nbsp;million in the year ended
December&nbsp;31, 2013, to an inflow of &#128;212&nbsp;million for the year ended December&nbsp;31, 2014. Net working capital days decreased by 5 days to 20 days for the year ended December&nbsp;31, 2014, from 25 days for the year ended
December&nbsp;31, 2013. The increase in LME prices and foreign exchange drove all components of trade working capital up, especially inventories and in our A&amp;T segment. Payables were also impacted by the expenses related to the Wise acquisition
which were incurred in Q4 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net cash from operating activities decreased by &#128;62&nbsp;million, from an inflow of
&#128;246&nbsp;million in the year ended December&nbsp;31, 2012, to an inflow of &#128;184&nbsp;million for the year ended December&nbsp;31, 2013. This reflected the &#128;53&nbsp;million decrease in cash generated from net income from continuing
operations of &#128;149&nbsp;million in the year ended December&nbsp;31, 2012 compared to &#128;96&nbsp;million in the year ended December&nbsp;31, 2013. The unrealized gains on derivatives and from remeasurement of monetary assets and liabilities
were &#128;14&nbsp;million for the year ended December&nbsp;31, 2013 compared to &#128;60&nbsp;million for the year ended December&nbsp;31, 2012. Net working capital days decreased by 7 days to 25 days for the year ended December&nbsp;31, 2013, from
32 days for the year ended December&nbsp;31, 2012. Of the decrease in net working capital days, a 6-day decrease was driven by lower inventories across all of our segments. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Net cash from investing activities </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Cash flows used in investing activities increased by &#128;84&nbsp;million to &#128;216&nbsp;million for the year ended December&nbsp;31, 2014,
from &#128;132&nbsp;million for the year ended December&nbsp;31, 2013, mainly driven by a &#128;55&nbsp;million increase in capital expenditures, to &#128;199&nbsp;million for the year ended December&nbsp;31, 2014, from &#128;144&nbsp;million for
the year ended December&nbsp;31, 2013. Our capital expenditures for the year included &#128;36&nbsp;million related to the ramp up of our body-in-white projects in our PA&amp;RP segment, a further &#128;12&nbsp;million spent on projects related to
Airware and major maintenance in our A&amp;T segment. Cash flows used in investing activities also included &#128;19&nbsp;million related to our investment in Quiver Ventures LLC which was created during the fourth quarter of 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Cash flows used in investing activities increased by &#128;1&nbsp;million to &#128;132&nbsp;million for the year ended December&nbsp;31, 2013,
from &#128;131&nbsp;million for the year ended December&nbsp;31, 2012. Cash flows used in investing activities for the year ended December&nbsp;31, 2013 related to &#128;144&nbsp;million of capital expenditure and &#128;13&nbsp;million proceeds
received from the disposal of our Saint Florentin and Ham plants and other European assets, including Alcan Strojmetal Aluminium Forging. Our capital expenditures projects for the year ended December&nbsp;31, 2013 included assets reflected in
construction and work in progress. Our significant projects included &#128;14&nbsp;million spent in Neuf-Brisach for a heat treatment and conversion line, &#128;6&nbsp;million spent on our new Singen press line which started production in May 2013
and &#128;11&nbsp;million spent on Automotive Structures projects. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-75- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For further details on capital expenditures projects, see the &#147;&#151;Financing
Arrangements&#151;Historical Capital Expenditures&#148; section below. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Net cash from financing activities </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net cash provided by financing activities was an inflow of &#128;753&nbsp;million for the year ended December&nbsp;31, 2014, compared to an
inflow of &#128;43&nbsp;million for the year ended December&nbsp;31, 2013. Net cash provided by financing activities in the year ended December&nbsp;31, 2014 reflected the &#128;1,153&nbsp;million of proceeds from the issuance of Senior Notes in May
and October, partially used to repay &#128;331&nbsp;million of the New Term Loan. Net cash provided by financing activities also included &#128;27&nbsp;million cash outflows related to payment of deferred financing costs and &#128;34&nbsp;million of
other financing activities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net cash used in financing activities was an outflow of &#128;86&nbsp;million for the year ended
December&nbsp;31, 2012 and an inflow of &#128;43&nbsp;million for the year ended December&nbsp;31, 2013. Net cash provided by financing activities in the year ended December&nbsp;31, 2013 reflected the &#128;162&nbsp;million of proceeds received
from the issuance of ordinary shares in our IPO and the &#128;351&nbsp;million proceeds from the New Term Loan offset by &#128;147&nbsp;million of dividends and &#128;103 million of share premium distributed to our shareholders as well as repayments
of the Original Term Loan amounting to &#128;156 million. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Historical Capital Expenditures </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table provides a breakdown of the historical capital expenditures for property, plant and equipment by segment for the periods
indicated: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2014&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2013&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;2012&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center"><B>(&#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A&amp;T</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">AS&amp;I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">P&amp;ARP</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intersegment and Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total from continuing operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>199</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>144</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>126</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capital expenditure in the Company predominantly relates to development, maintenance and health&nbsp;&amp;
safety expenditures. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Main projects undertaken during the period included the Singen press line which started operations in May 2013 and
the new casthouse in Decin which became fully operational in June 2014. Our significant projects in progress include the Body-in-White capacity extension in P&amp;ARP, the new press in AS&amp;I and the Airware casthouse in A&amp;T. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capital expenditures increased by &#128;55&nbsp;million, or 38%, to &#128;199&nbsp;million for the year ended December&nbsp;31, 2014, from
&#128;144&nbsp;million in the year ended December&nbsp;31, 2013, as a result of the continuation of existing projects and a number of new projects, including &#128;36&nbsp;million spent on Body-in-White projects and &#128;12&nbsp;million spent on
Airware-related projects. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capital expenditures increased by &#128;18&nbsp;million, or 14%, to &#128;144&nbsp;million in the year ended
December&nbsp;31, 2013 from &#128;126&nbsp;million in the year ended December&nbsp;31, 2012, as a result of the continuation of existing projects and a number of new projects, including &#128;11&nbsp;million spent on Automotive Structures projects,
&#128;14&nbsp;million relating to a heat treatment and conversion line at our Neuf-Brisach plant and &#128;6&nbsp;million spent on our new Singen press line. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-76- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As at December&nbsp;31, 2014, we had &#128;183&nbsp;million of construction in progress which
relates to our continued modernization and rebuilding projects at our Neuf Brisach, Issoire, Van Buren, Ravenswood and Singen sites. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our
principal capital expenditures are expected to total approximately &#128;508&nbsp;million, for the years ended December&nbsp;31, 2015 and 2016 in the aggregate. We currently expect all of our capital expenditures to be financed internally. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Off-Balance Sheet Arrangements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of
December&nbsp;31, 2014, we have no significant off-balance sheet arrangements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contractual Obligations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table summarizes our estimated material contractual cash obligations and other commercial commitments at December&nbsp;31, 2014:
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Cash payments due by period</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Less<BR>than</B><br><B>1&nbsp;year</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>1-3<BR>years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>3-5<BR>years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>After<BR>5&nbsp;years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="18" ALIGN="center"><B>(unaudited, &#128; in millions)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings(1)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,233</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,199</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest(2)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">619</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">152</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">152</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">257</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Derivatives relating to currencies and metal(3)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">116</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating lease obligations(4)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Capital expenditures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance leases(5)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B>(6)<B></B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2,190</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>288</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>254</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>172</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,476</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Borrowings include the U.S. Revolving Credit Facility which is considered short-term in nature and is included in the category &#147;Less than 1 year.&#148; </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Interests under the May 2014 Senior Notes accrue at a rate of 5.750% per annum on the U.S. Dollar Notes and 4.625% per annum on the Euro Notes. </TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Interests under the December 2014 Senior Notes accrue at a rate of 8.00% per annum on the U.S. Dollar Notes and 7.00% on the Euro Notes. </P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">Foreign exchanges options have not been included as they are not in the money. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top">Operating leases relate to buildings, machinery and equipment. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top">Finance leases primarily relates to a sale-leaseback transaction in the US. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top">Retirement benefit obligations of &#128;654&nbsp;million are not presented above as the timing of the settlement of this obligation is uncertain. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Environmental Contingencies </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our
operations, like those of other basic industries, are subject to federal, state, local and international laws, regulations and ordinances. These laws and regulations (i)&nbsp;govern activities or operations that may have adverse environmental
effects, such as discharges to air and water, as well as waste handling and disposal practices and (ii)&nbsp;impose liability for costs of cleaning up, and certain damages resulting from, spills, disposals or other releases or regulated materials.
From time to time, our operations have resulted, or may result, in certain noncompliance with applicable requirements under such environmental laws. To date, any such noncompliance with such environmental laws has not had a material adverse effect
on our financial position or results of operations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Pension Obligations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium operates various pension plans for the benefit of its employees across a number of countries. Some of these plans are defined
benefit plans and others are defined contribution plans. The largest of these plans </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-77- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
are in the United States, Switzerland, Germany and France. Pension benefits are generally based on the employee&#146;s service and highest average eligible compensation before retirement, and are
periodically adjusted for cost of living increases, either by practice, collective agreement or statutory requirement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We also provide
health and life insurance benefits to retired employees and in some cases to their beneficiaries and covered dependents. These plans are predominantly in the United States. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>United States pensions and healthcare plans </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the United States, we operate defined benefit plans, which, as of December&nbsp;31, 2014, covered 1,000 active participants, 337 deferred
participants and 1,535 retired employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There is a defined contribution (401(k))&nbsp;savings plan and an unfunded post-employment
benefit scheme. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Switzerland </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In 2012, and as part of the separation agreement with Rio Tinto, we withdrew from the foundation that previously had administered our employee
benefit plans in Switzerland and joined a new commercial multi-employee foundation for our Swiss employees. This change led to a partial liquidation of the previous scheme which triggered a settlement. At the same time there was a change in employee
benefit entitlements that resulted in a decrease in past service costs. The net effect of the settlement and the change in benefits resulted in a &#128;8&nbsp;million loss recorded within other gains/losses in the income statement. As of
December&nbsp;31, 2014, there were 777 employees and 89 retired employees in the Swiss pension plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Germany </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In Germany, there are a number of defined benefit and defined contribution pension schemes, which, as of December&nbsp;31, 2014, covered a
total of 1,456 active participants, 442 deferred participants and 2,768 retired employees. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>France </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In France, there are unfunded defined benefit pension plans, which, as of December&nbsp;31, 2014, covered 3,886 active participants and 586
retired employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our pension liabilities and other post-retirement healthcare obligations are reviewed regularly by a firm of qualified
external actuaries and are revalued taking into account changes in actuarial assumptions and experience. The assumptions include assumed discount rates on plan liabilities and expected rates of return on plan assets. Both of these require estimates
and projections on a variety of factors and these can fluctuate from period to period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For the year ended December&nbsp;31, 2014, the
total expense recognized in the income statement in relation to all our pension and post-retirement benefits was &#128;30&nbsp;million (compared to &#128;29&nbsp;million for the year ended December&nbsp;31, 2013). At December&nbsp;31, 2014, the fair
value of the plans assets was &#128;330&nbsp;million (compared to &#128;277&nbsp;million as of December&nbsp;31, 2013), compared to a present value of our obligations of &#128;984&nbsp;million (compared to &#128;784&nbsp;million as of
December&nbsp;31, 2013), resulting in an aggregate plan deficit of &#128;654&nbsp;million (compared to &#128;507&nbsp;million as of December&nbsp;31, 2013). Contributions to pension plans totaled &#128;34&nbsp;million for the year ended
December&nbsp;31, 2014 (compared to &#128;27&nbsp;million for the year ended December&nbsp;31, 2013). Contributions for other benefits totaled &#128;15&nbsp;million for the year ended December&nbsp;31, 2014 (compared to &#128;16&nbsp;million for the
year ended December&nbsp;31, 2013). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-78- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For the year ended December&nbsp;31, 2013, the total expense recognized in the income statement
in relation to all our pension and post-retirement benefits was &#128;29&nbsp;million (compared to a gain of &#128;2&nbsp;million for the year ended December&nbsp;31, 2012). At December&nbsp;31, 2013, the fair value of the plans assets was
&#128;277&nbsp;million (compared to &#128;267&nbsp;million as of December&nbsp;31, 2012), compared to a present value of our obligations of &#128;784&nbsp;million (compared to &#128;878&nbsp;million as of December&nbsp;31, 2012), resulting in an
aggregate plan deficit of &#128;507&nbsp;million (compared to &#128;611&nbsp;million as of December&nbsp;31, 2012). Contributions to pension plans totaled &#128;27&nbsp;million for the year ended December&nbsp;31, 2013 (compared to
&#128;26&nbsp;million for the year ended December&nbsp;31, 2012). Contributions for other benefits totaled &#128;16&nbsp;million for the year ended December&nbsp;31, 2013 (compared to &#128;14&nbsp;million for the year ended December&nbsp;31, 2012).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our estimated funding for our funded pension plans and other post-retirement benefit plans is based on actuarial estimates using benefit
assumptions for discount rates, rates of compensation increases, and health care cost trend rates. The deficit in the pension plan and the unfunded post-retirement healthcare obligation as of December&nbsp;31, 2014 were &#128;282&nbsp;million and
&#128;372&nbsp;million, respectively. The deficit in the pension plan and the unfunded post-retirement healthcare obligation as of December&nbsp;31, 2013 were &#128;208&nbsp;million and &#128;299&nbsp;million, respectively. Estimating when the
obligations will require settlement is not practicable and therefore these have not been included in the Contractual Obligations table above. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Quantitative and Qualitative Disclosures about Market Risk </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to the risks inherent in our operations, we are exposed to a variety of financial risks, such as market risk (including foreign
currency exchange, interest rate and commodity price risk), credit risk and liquidity risk, and further information can be found in Note 24 to our audited consolidated financial statements contained elsewhere in this Annual Report. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Principal Accounting Policies, Critical Accounting Estimates and Key Judgments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our principal accounting policies are set out in Note 2 to the audited consolidated financial statements which appear elsewhere in this Annual
Report. New standards and interpretations not yet adopted are also disclosed in Note 2.c to our audited consolidated financial statements. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_9"></A>Item&nbsp;6. Directors, Senior Management and Employees </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. Directors and Senior Management </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table provides information regarding our executive officers and the members of our board of directors as of the date of this
Annual Report (ages are given as of April&nbsp;20, 2015). The business address of each of our executive officers and directors listed below is c/o Constellium, Tupolevlaan 41-61, 1119 NW Schiphol-Rijk, the Netherlands. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="24%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:20.00pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Age</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1.00pt solid #000000; width:27.50pt; font-size:8pt; font-family:Times New Roman"><B>Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Date of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:45.30pt; font-size:8pt; font-family:Times New Roman"><B>Appointment</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Richard Evans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chairman</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">January 5, 2011</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pierre Vareille</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">March 1, 2012</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guy Maugis</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">January 5, 2011</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Matthew Nord</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">May 14, 2010</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Philippe Guillemot</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">May 21, 2013</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Werner Paschke</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">May 21, 2013</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michiel Brandjes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">June 11, 2014</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Peter Hartman</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">June 11, 2014</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">John Ormerod</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">June 11, 2014</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lori Walker</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Director</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">June 11, 2014</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-79- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to a shareholders agreement between the Company and Bpifrance, Mr.&nbsp;Maugis was
selected to serve as a director by Bpifrance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Richard B. Evans</I>. Mr.&nbsp;Evans has served as our Chairman since December 2012.
Mr.&nbsp;Evans is currently an independent director of Noranda Aluminum Holding Corporation and an independent director of CGI, an IT consulting and outsourcing company. Mr.&nbsp;Evans retired in May 2013 as Non-Executive Chairman of Resolute Forest
Products, a Forest Products company based in Montreal. He retired in April 2009 as an Executive Director of London-based Rio Tinto plc and Melbourne-based Rio Tinto Ltd., and as Chief Executive Officer of Rio Tinto Alcan Inc., a wholly owned
subsidiary of Rio Tinto. Previously, Mr.&nbsp;Evans was President and Chief Executive Officer of Montreal based Alcan Inc. from March 2006 to October 2007, and led the negotiation of the acquisition of Alcan by Rio Tinto in October 2007. He was
Alcan&#146;s Executive Vice President and Chief Operating Officer from September 2005 to March 2006. Prior to joining Alcan in 1997, he held various senior management positions with the Kaiser Aluminum and Chemical Company during his 27 years with
that company. He is a past Chairman of the International Aluminum Institute (IAI) and is a past Chairman of the Washington, DC-based U.S. Aluminum Association. He previously served as Co-Chairman of the Environmental and Climate Change Committee of
the Canadian Council of Chief Executives and as a member of the Board of USCAP, a Washington, DC-based coalition concerned with climate change. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Pierre Vareille</I>. Mr.&nbsp;Vareille has been the Chief Executive Officer of Constellium since March 2012. Prior to joining Constellium,
Mr.&nbsp;Vareille was Chairman and Chief Executive Officer of FCI, a world-leading manufacturer of connectors. Mr.&nbsp;Vareille is a graduate of the French engineering school Ecole Centrale de Paris and the Sorbonne University (economics and
finance). He started his career in 1982 with Vallourec, holding various positions in manufacturing, controlling, sales and strategy before being appointed Chief Executive Officer of several subsidiaries. From 1995 to 2000 Mr.&nbsp;Vareille was
Chairman and Chief Executive Officer of GFI Aerospace (now LISI Aerospace), after which he joined Faurecia as a member of the executive committee and Chief Executive Officer of the Exhaust Systems business. In 2002, he moved to Pechiney as a member
of the executive committee in charge of the aluminium conversion sector and as Chairman and Chief Executive Officer of Rhenalu. He was then named in 2004 as Group Chief Executive of Wagon Automotive, a company listed on the London Stock Exchange,
where he served until 2008. Mr.&nbsp;Vareille has been a member of the Societe Bic board of directors since 2009. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Guy Maugis</I>.
Mr.&nbsp;Maugis has been the President of Robert Bosch France SAS since January 2004. The French subsidiary covers all the activities of the Bosch Group, a leader in the domains of the Automotive Equipments, Industrial Techniques and Consumer Goods
and Building Techniques. Mr.&nbsp;Maugis is a former graduate of Ecole Polytechnique, Engineer of &#147;Corps des Ponts et Chauss&eacute;es&#148; and worked for several years at the Equipment Ministry. At Pechiney, he managed the flat rolled
products factory of Rhenalu Neuf-Brisach. At PPG Industries, he became President of the European Flat Glass activities. With the purchase of PPG Glass Europe by ASAHI Glass, Mr.&nbsp;Maugis assumed the function of Vice-President in charge of the
business development and European activities of the automotive branch of the Japanese group. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Matthew H. Nord</I>. Mr.&nbsp;Nord is a
partner of Apollo Global Management, LLC, having joined Apollo in 2003. Prior to that time, Mr.&nbsp;Nord was a member of the Investment Banking division of Salomon Smith Barney Inc. Mr.&nbsp;Nord serves on the board of directors of Presidio, Inc.,
Novitex Enterprise Solutions, Affinion Group Inc. and Noranda Aluminum Holding Corporation. Mr.&nbsp;Nord also serves on the Board of Trustees of Montefiore Health System and on the Board of Overseers of the University of Pennsylvania&#146;s School
of Design. Mr.&nbsp;Nord graduated summa cum laude with a BS in Economics from the University of Pennsylvania&#146;s Wharton School of Business. Mr.&nbsp;Nord has over 12 years of experience in financing, analyzing and investing in public and
private companies, including significant experience making and managing private equity investments on behalf of Apollo Funds. He has worked on numerous metals industry transactions at Apollo, particularly in the aluminium sector. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-80- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Philippe Guillemot</I>. Mr.&nbsp;Guillemot is Chief Operating Officer of Alcatel-Lucent. He
has nearly thirty years of experience in quality control and management, particularly with automotive components manufacturers and power distribution product manufacturers. From April 2010 to February 2012, he served as Chief Executive Officer of
Europcar Group, the leading provider of car rental services in Europe with a presence in 150 countries. Mr.&nbsp;Guillemot served as Chairman and CEO of Areva T&amp;D from 2004 to 2010, and previously served in management positions at Valeo and
Faurecia. Mr.&nbsp;Guillemot began his career at Michelin, where he was initially responsible for production quality and plant quality at sites in Canada, France and Italy. He was a member of Booz Allen Hamilton&#146;s Automotive Practice from 1991
to 1993 before returning to Michelin to serve as an operations manager, director of Michelin Group&#146;s restructuring in 1995-1996, Group Quality Executive Vice-President, and Chief Information Officer. Mr.&nbsp;Guillemot received his
undergraduate degree in 1982 from Ecole des Mines in Nancy and received his MBA from Harvard University in Cambridge, MA in 1991. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Werner P. Paschke</I>. Mr Paschke is an independant Director of several companies, currently at Braas Monier Building Group SA, where he
chairs the Audit Committee, and at Schustermann&nbsp;&amp; Borenstein GmbH. In previous years he served on the Supervisory Boards of Conergy Aktiengesellschaft and Coperion GmbH. Between 2003 and 2006, Mr.&nbsp;Paschke served as Managing Director
and Chief Financial Officer of Demag Holding in Luxemburg, where he was responsible for actively enhancing the value of seven former Siemens and Mannesmann units. From 1992 to 2003 he worked for Continental AG, since 1994 as
&#145;Generalbevollm&auml;chtigter&#146; for corporate controlling, plus later accounting. From 1988 to 1992 he served as Chief Financial Officer for General Tire Inc., Akron, Ohio, USA. From 1973 to 1987 he held different positions at Continental
AG in finance, distribution, marketing and controlling. Mr Paschke studied economics at Universities Hannover, Hamburg and Munster/Westphalia and is a 1993 graduate of the International Senior Management Program at Harvard University. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Michiel Brandjes</I>. Mr.&nbsp;Brandjes serves as Company Secretary and General Counsel Corporate of Royal Dutch Shell plc since 2005.
Mr.&nbsp;Brandjes formerly served as Company Secretary and General Counsel Corporate of Royal Dutch Petroleum Company. He served for 25 years on numerous legal and non-legal jobs in the Shell Group within the Netherlands and abroad, including as
head of the legal department in Singapore and as head of the legal department for North East Asia based in Beijing and Hong Kong. Before he joined Shell, Mr.&nbsp;Brandjes worked at a law firm in Chicago after graduating from law school at the
University of Rotterdam and at Berkeley, California. He has published a number of articles on legal and business topics, is a regular speaker on corporate legal and governance topics and serves in a number of advisory and non-executive director
positions not related to Shell. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Peter F. Hartman</I>. Mr.&nbsp;Hartman serves as Vice Chairman of Air France KLM since July 2013. He
also serves as member of the supervisory boards of Fokker Technologies Group B.V since 2013, Royal Ten Cate N.V. since 2013, Air France KLM S.A. since 2010 and Texel Airport N.V. since mid-2013. Mr.&nbsp;Hartman is also Chairman of ACARE (Advisory
Council for Aviation Research and Innovation in Europe). Mr.&nbsp;Hartman served as President and CEO of KLM Royal Dutch Airlines from 2007 to 2013, and as member of the supervisory boards of Kenya Airways from 2004 to 2013, Stork B.V. from 2008 to
2013, and CAI Compagnia Aerea Italiana s.p.A. from 2009 to January 2014 and Delta Lloyd Group N.V. from 2010 to May 2014. Mr.&nbsp;Hartman received a degree in Mechanical Engineering from HTS Amsterdam, Amsterdam and a Master in Business Economics
from Erasmus University, Rotterdam. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>John Ormerod</I>. Mr.&nbsp;Ormerod is a chartered accountant and has worked for over 30 years in
public accounting firms. He served for 32 years at Arthur Andersen, serving in various client service and management positions, with last positions held from 2001 to 2002 serving as Regional Managing Partner UK and Ireland, and Managing Partner
(UK). From 2002 to 2004, he was Practice Senior Partner for London at Deloitte (UK) and was member of the UK executives and Board. Mr.&nbsp;Ormerod is a graduate of Oxford University. Mr.&nbsp;Ormerod currently serves in the following director
positions: since 2006, as Non-executive director and Chairman of the Audit Committee of Gemalto N.V., and as member of the compensation committee; since 2008, as Non-executive director of ITV plc, as member of the remuneration and nominations
committees and was appointed </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-81- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Chairman of the Audit Committee in 2010; and, since 2009, as Non-executive director of Tribal Group plc., and as a member of the audit, remuneration and nominations committee. He was appointed
Chairman of the board in 2010. Mr.&nbsp;Ormerod also served as Non-executive director and Chairman of the Audit Committee of Computacenter plc., and as member of the remuneration and nominations committees until April&nbsp;1, 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Lori A. Walker</I>. Ms.&nbsp;Walker is Member of the Board of Directors of Southwire, an industrial manufacturer of wire and cable.
Ms.&nbsp;Walker previously served as Chief Financial Officer and Senior Vice President of The Valspar Corporation from 2008 to 2013, where she led the Finance, IT and Communications teams. Prior to that position, Ms.&nbsp;Walker served as
Valspar&#146;s Vice President, Controller and Treasurer from 2004 to 2008, and as Vice President and Controller from 2001 to 2004. Prior to joining Valspar, Ms.&nbsp;Walker held a number of roles with progressively increasing responsibility at
Honeywell Inc. during a 20-year tenure, with her last position there serving as Director of Global Financial Risk Management. Ms.&nbsp;Walker holds a Bachelor of Science of Finance from Arizona State University and attended the Executive Institute
Program and the Director&#146;s College at Stanford University. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following persons are our officers as of the date of this Annual
Report (ages are given as of April&nbsp;20, 2015): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="34%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="60%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:20.00pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Age</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-bottom:1.00pt solid #000000; width:15.95pt; font-size:8pt; font-family:Times New Roman"><B>Title</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pierre Vareille</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Executive Officer</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Didier Fontaine</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Chief Financial Officer</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Laurent Musy</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">President, Aerospace and Transportation business unit</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Paul Warton</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">President, Automotive Structures and Industry business unit</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jun Tao</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Vice President, Strategy and Business Development</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Marc Boone</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Vice President, Human Resources</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jeremy Leach</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Vice President and Group General Counsel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Nicolas Brun</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Vice President, Communications</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Yves Merel</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Vice President, EHS &amp; Lean Transformation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Simon Laddychuk</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Vice President &amp; Chief Technical Officer</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following paragraphs set forth biographical information regarding our officers: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Didier Fontaine</I>. Mr.&nbsp;Fontaine has been the Chief Financial Officer of Constellium since September 2012. Prior to joining
Constellium, Mr.&nbsp;Fontaine was from March 2009 Executive Vice President and Chief Financial Officer and Information Technology Director of the Plastic Omnium, a world-leading automotive supplier present in 27 countries with over 20,000
employees, which is listed on Euronext Paris and is part of the CAC Mid 60. Mr.&nbsp;Fontaine was also a member of the executive committee during his time at Plastic Omnium and was instrumental in orchestrating the company&#146;s post-2008 recovery
by generating a strong cash position and operating margin. In 2010, Plastic Omnium was recognized as the company with the highest share price improvement on Euronext Paris. Mr.&nbsp;Fontaine started his career in 1987 with Credit Lyonnais, holding
various positions in Canada, France and Brazil in corporate and structured finance. From 1995 to 2001, he worked for the Schlumberger Group where he held various positions in the Treasury and Controller departments. In 2001, he joined Faurecia
Exhaust System as Vice President of Finance and IT and managed the South American and South African operations up to 2004. In 2005, Mr.&nbsp;Fontaine joined Inergy Automotive System, a fuel tank business and a joint venture between Solvay Group and
Plastic Omnium as the Chief Financial Officer and IT director (and was also a member of the company&#146;s executive committee). Mr.&nbsp;Fontaine is a graduate of L&#146;Institut d&#146;Etudes Politiques of Paris &#147;Sciences Po&#148; (with a
major in finance and tax) and has a master&#146;s degree in econometrics from Lyon University. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Laurent Musy</I>. Mr.&nbsp;Musy is
President, Aerospace&nbsp;&amp; Transportation since December 2014. Previously, he has served as President, Packaging&nbsp;&amp; Automotive Rolled Products from January 2011 to December 2014, and had held the same position at Alcan Engineered
products since April 2008. Prior to that, Mr.&nbsp;Musy worked in the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-82- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
upstream aluminium industry, including as General Manager of the Pechinery St-Jean smelter in France, CEO of Tomago Aluminium in Australia and President of Alcan Bauxite&nbsp;&amp; Alumina&#146;s
Atlantic Operations. He led the worldwide integration of Rio Tinto and Alcan in bauxite and alumina. Earlier in his career, he worked for Bull Japan, Saint-Gobain and McKinsey. At the EAA, Mr.&nbsp;Musy is currently the chairman of both the
packaging board and the rollers&#146; division. He chairs Constellium&#146;s sustainability council. Mr.&nbsp;Musy is a graduate of the Ecole des Mines de Paris and holds an MBA from INSEAD. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Paul Warton</I>. Mr.&nbsp;Warton has served as our President, Automotive Structures&nbsp;&amp; Industry since January 2011, and previously
held the same role at Alcan Engineered Products since November 2009. Mr.&nbsp;Warton joined Alcan Engineered Aluminum Products in November 2009. Following manufacturing, sales and management positions in the automotive and construction industries,
he has spent 17 years managing aluminium extrusion companies across Europe and in China. He has held the positions of President Sapa Building Systems&nbsp;&amp; President Sapa North Europe Extrusions during the integration process with Alcoa soft
alloy extrusions. Mr.&nbsp;Warton served on the Building Board of the European Aluminum Association (EAA) and was Chairman of the EAA Extruders Division. He holds an MBA from London Business School. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Jun Tao</I>. Mr.&nbsp;Tao is Vice President, Strategy and Business Development for Constellium since May 2014. He was previously the
Managing Director of CITIC Capital Partners, responsible for the overall development and leadership of their Portfolio of Operating companies in China. Prior to joining this private equity firm, Mr.&nbsp;Tao was with American Securities LLC. As a
senior member, he was in charge of their Portfolio Operating Group in China for 5 years. Before that, Mr.&nbsp;Tao spent 14 years with General Electric in America and China, where he worked in various manufacturing and business management positions
in the Healthcare, Aircraft Engines and Power Systems divisions. Mr.&nbsp;Tao holds a MBA from the Marquette University, a M.Sc. in Material Science&nbsp;&amp; Engineering from the University of Michigan, and a B.Sc. in Material Science&nbsp;&amp;
Engineering from Shanghai Jiaotong University. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Marc Boone</I>. Mr.&nbsp;Boone joined Constellium in June 2011 as Vice-President, Human
Resources. From 2003 through 2010, Mr.&nbsp;Boone served as the Human Resources Director at Uniq plc, and prior to 2003 held human resources and change management positions in industrial and service companies such as Alcatel Mietec, Johnson
Controls, MasterCard, General Electric and KPMG. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Jeremy Leach</I>. Mr.&nbsp;Leach joined Constellium as Vice President and Group
General Counsel and Secretary to the Board of Constellium since January 2011 and previously was Vice President and General Counsel at Alcan Engineered Products. Mr.&nbsp;Leach joined Pechiney in 1991 from the international law firm Richards Butler
(now Reed Smith). Prior to becoming General Counsel at Alcan Engineered Products, he was the General Counsel of Alcan Packaging and has held various senior legal positions in Rio Tinto, Alcan and Pechiney. He has been admitted in a number of
jurisdictions, holds a law degree from Oxford University (MA Jurisprudence) and an MBA from the London Business School. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Nicolas
Brun</I>. Mr.&nbsp;Brun has served as our Vice President, Communications in January 2011, and previously held the same role at Alcan Engineered Products since June 2008. From 2005 through June 2008, Mr.&nbsp;Brun served in the roles of Vice
President, Communications for Thales Alenia Space and also as Head of Communications for Thales&#146; Space division. Prior to 2005, Mr.&nbsp;Brun held senior global communications positions as Vice President External Communications with Alcatel,
Vice President Communications Framatome ANP/AREVA, and with the Carlson Wagonlit Travel Group. Mr.&nbsp;Brun attended University of Paris-La Sorbonne and received a degree in economics and also has a master&#146;s degree in corporate communications
from Ecole Fran&ccedil;aise des Attach&eacute;s de Presse and also a certificate in marketing management for distribution networks from the Ecole Sup&eacute;rieure de Commerce in Paris. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Yves M&eacute;rel</I>. Mr.&nbsp;Merel has served as our Vice President, EHS and Lean Transformation, since August 2012. Prior to that,
Mr.&nbsp;Merel led several Lean Transformation programs with impressive improvement track records in the automotive and electronic industries. Mr.&nbsp;Merel discovered the Lean principles during his 10 years at Valeo,
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-83- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
mostly as Plant Manager and has since implemented Lean within more than 21 countries and cultures. From May 2008 until he joined Constellium he served as Group Lean Director and then as Vice
President Industrial Development at FCI. He also extends his Lean expertise to functions out of the usual EHS, Quality, Supply Chain and Production areas, such as to Engineering, Purchasing, Human Resource, Finance and Sales. Mr.&nbsp;Merel holds an
Engineering degree from Compiegne University of Technology and a degree from Harvard Business School&#146;s General Management Program. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>Simon Laddychuk</I>. A practiced leader with over 20 years of years experience gained in the metals industry, Simon Laddychuk is the Vice
President and Chief Technical Officer for Constellium. In this role he oversees the Research and Development, Technology and group Engineering activities. Prior to his current role he was the Vice President of Manufacturing for the Aerospace and
Transportation Business Unit a global leader serving key aerospace customers with advanced aluminium solutions for current and future aircraft and other value-added market applications. Born in South Wales, United Kingdom, Simon graduated in the UK.
He holds a number of Engineering qualifications, a Bachelor of Science Degree in Materials Science and an MBA. He is a member of the Institute of Materials. He joined Alcan Engineered Products in 1991, where he has held operational and corporate
management positions in different sectors in packaging and aluminium conversion in Europe and North America. Throughout his career, Simon has always shown his active personal involvement in health, safety and the environment, sustainability and
climate issues between 2003&#151;2007 personally leading the development and implementation of Alcan&#146;s strategy for Sustainability and EHS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There are no family relationships between the executive officers and the members of our board of directors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Compensation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Non-Employee Director Compensation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For 2014, each of our non- executive directors was paid an annual retainer of &#128;60,000 and received &#128;2,000 for each meeting of the
board they attended in person and &#128;1,000 for each meeting they attended by telephone. In addition, the Chairman of the Audit Committee received an annual retainer of &#128;15,000, and the Chairman of each of the Remuneration and the Nominating
and Governance Committees received an annual retainer of &#128;8,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Evans, as Chairman of the Board, was paid an additional
&#128;60,000&nbsp;per year for his services, a position to which he was appointed on December&nbsp;6, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In May 2013, each of Messrs.
Guillemot and Paschke were granted an award of restricted stock units with an aggregate grant date value of &#128;50,000, 50% of which vested in May 2014. The restricted stock unit awards vest in equal installments on each of the first and second
anniversaries of the grant date, subject to the recipient continuously being a member of our board of directors through each such anniversary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In June 2014, upon being newly appointed as Board members Ms.&nbsp;Walker and Messrs. Brandjes, Hartman and Ormerod received an award of
restricted stock units with an aggregate grant date value of &#128;50,000. The restricted stock unit awards vest in equal installments on each of the first and second anniversaries of the grant date, subject to the recipient continuously being a
member of our board of directors through each such anniversary. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-84- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table sets forth the approximate remuneration paid or payable in respect of our
2014 fiscal year to our non-employee directors: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:20.00pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Annual<BR>Director&nbsp;Fees</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Board/<BR>Committee<BR>Attendance<BR>Fees</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Equity<BR>Awards</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Philippe Guillemot</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">60,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">85,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guy Maugis</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">60,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">27,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">87,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Richard B. Evans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">128,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">30,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">158,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pieter Oosthoek(1)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">14,425</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">14,425</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Werner P. Paschke</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">75,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">25,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">100,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michiel Brandjes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">35,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">13,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">98,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Peter F. Hartman</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">35,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">13,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">98,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Matthew H. Nord</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">68,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">88,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">John Ormerod</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">35,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">8,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">93,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lori A. Walker</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">35,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">14,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">50,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">99,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Annual director fee for Mr.&nbsp;Oosthoek reflects the total fees paid to Intertrust (Netherlands) B.V. in respect of Mr.&nbsp;Oosthoek&#146;s services to the Company during our 2014 fiscal year (excluding any value
added taxes). </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Officer Compensation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The table below sets forth the approximate remuneration paid during our 2014 fiscal year to certain of our executive officers, including Pierre
Vareille, our Chief Executive Officer, Didier Fontaine, our Chief Financial Officer, Laurent Musy, formerly our President, Packaging&nbsp;&amp; Automotive Rolled Products and appointed in December 2014 as President, Aerospace&nbsp;&amp;
Transportation, Paul Warton, our President, Automotive Structures&nbsp;&amp; Industry, and Jean-Christophe Figueroa, our former President of Aerospace and Transportation. Mr.&nbsp;Figueroa resigned effective November 2014. The remuneration
information for our executive officers other than Mr.&nbsp;Vareille is presented on an aggregate basis in the row labeled &#147;Other Executive Officers&#148; in the table below. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Executive Performance Award Plan (the &#147;EPA&#148;) bonuses paid in March 2014 to certain of our executive officers were paid in
respect of 2013 EPA awards granted to such officers. In addition, each such executive officer was granted a restricted stock unit award under the Constellium N.V. 2013 Equity Incentive Plan pursuant to a shareholding retention program implemented by
our remuneration committee. See &#147;&#151;Shareholding Retention Program&#148; below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="36%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.40pt; font-size:8pt; font-family:Times New Roman"><B>Name and Principal<BR>Position</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Base Salary<BR>Paid(1)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-equity<BR>Incentive Plan<BR>Compensation<BR>(EPA Bonus)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Equity<BR>Awards(2)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Change in<BR>Pension&nbsp;Value(3)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>All Other<BR>Compensation(4)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pierre Vareille, CEO</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">772,891</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">550,997</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">159,842</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">1,976</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">1,485,706</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Executive Officers</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">1,521,438</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">784,127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&#128;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">203,627</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">446,407</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">2,955,599</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Amounts reflect proration for individuals who were not employed by the Company for all of 2014. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">No restricted stock unit awards were granted to such individuals in 2014 under the Constellium N.V. 2014 Equity Incentive Plan. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">Represents amounts contributed by the Company during the 2014 fiscal year to the French and Swiss states as part of the employer overall pension requirements apportioned to the base salary of these individuals.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top">Represents the sum of (i)&nbsp;&#128;72,622 in costs to the Company of providing a Company car, lunch allowance and tax services during 2014 to Messrs. Fontaine, Musy, Warton, and Figueroa and (ii)&nbsp;&#128;373,785
provided to Mr.&nbsp;Figueroa in 2014 pursuant to a settlement agreement between the Company and such officer. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-85- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The total remuneration paid to such executive officers, including Messrs. Vareille and Fontaine,
during our 2014 fiscal year amounted to &#128;4,077,836, consisting of (i)&nbsp;an aggregate base salary of &#128;2,294,329, (ii)&nbsp;aggregate short-term incentive compensation of &#128;1,335,124, and (iii)&nbsp;aggregate benefits in kind in an
amount equal to &#128;448,383. The total amount contributed to the value of the pensions for such executive officers, including Messrs. Vareille and Fontaine, during our 2014 fiscal year was &#128;363,469. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Below is a brief description of the compensation and benefit plans in which our officers participate. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Executive Performance Award Plan </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each of our officers participates in the EPA. The EPA is an annual cash bonus plan intended to provide performance-related award opportunities
to employees who contribute substantially to the success of Constellium. Under the EPA, participants are granted opportunities to earn cash bonuses (expressed as a percentage of base salary) based on the level of achievement of certain financial
metrics established by our remuneration committee for the applicable annual performance period, environmental, health and safety (&#147;EHS&#148;) performance objectives approved by our audit committee and individual and team objectives established
by the applicable participant&#146;s supervisor. The level of attainment of awards granted under the EPA is generally determined to be 70% based on the level of attainment of the applicable financial metrics, 10% based on the level of attainment of
EHS performance objectives and 20% based on the level of attainment of individual and team objectives. Awards are paid (generally subject to continued service through the end of the applicable annual performance period) in the year following the
year for which such awards were granted. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Long Term Incentive Cash Plan </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Long Term Incentive Cash Plan is intended to motivate and retain certain key senior employees of Constellium who are not eligible to
participate in our management equity plan described below. Approximately 60 of our senior employees were selected by our remuneration committee to receive grants of cash awards under the Long Term Incentive Cash Plan. Participants&#146; award
opportunities are based on job grade, with the amount earned in respect of such awards based on the level of attainment of the applicable performance criteria for the applicable measurement years. Awards earned under the plan are generally paid in
the third year following the applicable measurement year, with the awards generally vesting based on continued service through the end of the year preceding the year in which payment of the award is made. There were no payments made under this plan
in 2014. There was a payment made in 2015 and the Long Term Incentive Cash Plan has been terminated and no other payments will be made under this plan. In addition, there is no other cash plan currently in effect. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Constellium N.V. 2013 Equity Incentive Plan </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has adopted the Constellium N.V. 2013 Equity Incentive Plan (the &#147;Constellium 2013 Equity Plan&#148;). The principal purposes
of this plan are to focus directors, officers and other employees and consultants on business performance that creates shareholder value, to encourage innovative approaches to the business of the Company and to encourage ownership of our ordinary
shares by directors, officers and other employees and consultants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Constellium 2013 Equity Plan provides for a variety of awards,
including &#147;incentive stock options&#148; (within the meaning of Section&nbsp;422 of the Internal Revenue Code of 1986, as amended (the &#147;Code&#148;)) (&#147;ISOs&#148;), nonqualified stock options, stock appreciation rights
(&#147;SARs&#148;), restricted stock, restricted stock units, performance units, other stock-based awards or any combination of those awards. The Constellium 2013 Equity Plan provides that awards may be made under the plan for ten years. We have
reserved 5,292,291 ordinary shares for issuance under the Constellium 2013 Equity Plan, subject to adjustment in certain circumstances to prevent dilution or enlargement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-86- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Administration </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Constellium 2013 Equity Plan is administered by our remuneration committee. The board of directors or the remuneration committee may
delegate administration to one or more members of our board of directors. The remuneration committee has the power to interpret the Constellium 2013 Equity Plan and to adopt rules for the administration, interpretation and application of the
Constellium 2013 Equity Plan according to its terms. The remuneration committee determines the number of our ordinary shares that will be subject to each award granted under the Constellium 2013 Equity Plan and may take into account the
recommendations of our senior management in determining the award recipients and the terms and conditions of such awards. Subject to certain exceptions as may be required pursuant to Rule 16b-3 under the Exchange Act, if applicable, our board of
directors may at any time and from time to time exercise any and all rights and duties of the remuneration committee under the Constellium 2013 Equity Plan. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Eligibility </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Certain directors, officers, employees and consultants are eligible to be granted awards under the Constellium 2013 Equity Plan. Our
remuneration committee determines: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">which directors, officers, employees and consultants are to be granted awards; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the type of award that is granted; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the number of our ordinary shares subject to the awards; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the terms and conditions of such awards, consistent with the Constellium 2013 Equity Plan. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our remuneration committee has the discretion, subject to the limitations of the Constellium 2013 Equity Plan and applicable laws, to grant
stock options, SARs and rights to acquire restricted stock (except that only our employees may be granted ISOs). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Stock Options
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the terms and provisions of the Constellium 2013 Equity Plan, stock options to purchase our ordinary shares may be
granted to eligible individuals at any time and from time to time as determined by our remuneration committee. Stock options may be granted as ISOs, which are intended to qualify for favorable treatment to the recipient under U.S. federal tax law,
or as nonqualified stock options, which do not qualify for this favorable tax treatment. Subject to the limits provided in the Constellium 2013 Equity Plan, our remuneration committee has the authority to determine the number of stock options
granted to each recipient. Each stock option grant is evidenced by a stock option agreement that specifies the stock option exercise price, whether the stock options are intended to be incentive stock options or nonqualified stock options, the
duration of the stock options, the number of shares to which the stock options pertain and such additional limitations, terms and conditions as our remuneration committee may determine. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our remuneration committee determines the exercise price for each stock option granted, except that the stock option exercise price may not be
less than 100% of the fair market value of an ordinary share on the date of grant. All stock options granted under the Constellium 2013 Equity Plan expire no later than ten years from the date of grant. Stock options are nontransferable except by
will or by the laws of descent and distribution or, in the case of nonqualified stock options, as otherwise expressly permitted by our remuneration committee. The granting of a stock option does not accord the recipient the rights of a shareholder,
and such rights accrue only after the exercise of a stock option and the registration of ordinary shares in the recipient&#146;s name. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Stock Appreciation Rights </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our remuneration committee in its discretion may grant SARs under the Constellium 2013 Equity Plan. SARs may be &#147;tandem SARs,&#148; which
are granted in conjunction with a stock option, or &#147;free-standing SARs,&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-87- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
which are not granted in conjunction with a stock option. A SAR entitles the holder to receive from us, upon exercise, an amount equal to the excess, if any, of the aggregate fair market value of
a specified number of our ordinary shares to which such SAR pertains over the aggregate exercise price for the underlying shares. The exercise price of a free-standing SAR may not be less than 100% of the fair market value of an ordinary share on
the date of grant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A tandem SAR may be granted at the grant date of the related stock option. A tandem SAR may be exercised only at such
time or times and to the extent that the related stock option is exercisable and has the same exercise price as the related stock option. A tandem SAR terminates or is forfeited upon the exercise or forfeiture of the related stock option, and the
related stock option terminates or is forfeited upon the exercise or forfeiture of the tandem SAR. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each SAR is evidenced by an award
agreement that specifies the exercise price, the number of ordinary shares to which the SAR pertains and such additional limitations, terms and conditions as our remuneration committee may determine. We may make payment of the amount to which the
participant exercising the SARs is entitled by delivering ordinary shares, cash or a combination of stock and cash as set forth in the award agreement relating to the SARs. SARs are not transferable except by will or the laws of descent and
distribution or, with respect to SARs that are not granted in &#147;tandem&#148; with a stock option, as expressly permitted by our remuneration committee. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Restricted Stock </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Constellium 2013 Equity Plan provides for the award of ordinary shares that are subject to forfeiture and restrictions on transferability
to the extent permitted by applicable law and as set forth in the Constellium 2013 Equity Plan, the applicable award agreement and as may be otherwise determined by our remuneration committee. Except for these restrictions and any others imposed by
our remuneration committee to the extent permitted by applicable law, upon the grant of restricted stock, the recipient will have rights of a shareholder with respect to the restricted stock, including the right to vote the restricted stock and to
receive all dividends and other distributions paid or made with respect to the restricted stock on such terms as set forth in the applicable award agreement. During the restriction period set by our remuneration committee, the recipient is
prohibited from selling, transferring, pledging, exchanging or otherwise encumbering the restricted stock to the extent permitted by applicable law. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Restricted Stock Units </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Constellium 2013 Equity Plan authorizes our remuneration committee to grant restricted stock units. Restricted stock units are not ordinary
shares and do not entitle the recipient to the rights of a shareholder, although the award agreement may provide for rights with respect to dividend equivalents. The recipient may not sell, transfer, pledge or otherwise encumber restricted stock
units granted under the Constellium 2013 Equity Plan prior to their vesting. Restricted stock units may be settled in cash, ordinary shares or a combination thereof as provided in the applicable award agreement, in an amount based on the fair market
value of an ordinary share on the settlement date. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Performance Units </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Constellium 2013 Equity Plan provides for the award of performance units that are valued by reference to a designated amount of cash or to
property other than ordinary shares. The payment of the value of a performance unit is conditioned upon the achievement of performance goals set by our remuneration committee in granting the performance unit and may be paid in cash, ordinary shares,
other property or a combination thereof. Any terms relating to the termination of a participant&#146;s employment will be set forth in the applicable award agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-88- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Other Stock-Based Awards </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Constellium 2013 Equity Plan also provides for the award of ordinary shares and other awards that are valued by reference to our ordinary
shares, including unrestricted stock, dividend equivalents and convertible debentures. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Performance Goals </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Constellium 2013 Equity Plan provides that performance goals may be established by our remuneration committee in connection with the grant
of any award under the Constellium 2013 Equity Plan. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Termination without Cause Following a Change in Control </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon a termination of employment of a plan participant occurring upon or during the two years immediately following the date of a &#147;change
in control&#148; (as defined in the Constellium 2013 Equity Plan) by the Company without &#147;cause&#148; (as defined in the Constellium 2013 Equity Plan), unless otherwise provided in the applicable award agreement, (i)&nbsp;all awards held by
such participant will vest in full (in the case of any awards that are subject to performance goals, at target) and be free of restrictions, and (ii)&nbsp;any option or SAR held by the participant as of the date of the change in control that remains
outstanding as of the date of such termination of employment may thereafter be exercised until (A)&nbsp;in the case of ISOs, the last date on which such ISOs would otherwise be exercisable or (B)&nbsp;in the case of nonqualified options and SARs,
the later of (x)&nbsp;the last date on which such nonqualified option or SAR would otherwise be exercisable and (y)&nbsp;the earlier of (I)&nbsp;the second anniversary of such change in control and (II) the expiration of the term of such
nonqualified option or SAR. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Amendments </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our board of directors or our remuneration committee may amend, alter or discontinue the Constellium 2013 Equity Plan, but no amendment,
alteration or discontinuation will be made that would materially impair the rights of a participant with respect to a previously granted award without such participant&#146;s consent, unless such an amendment is made to comply with applicable law,
including, without limitation, Section&nbsp;409A of the Code, stock exchange rules or accounting rules. In addition, no such amendment will be made without the approval of the Company&#146;s shareholders to the extent such approval is required by
applicable law or the listing standards of the applicable stock exchange. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Free Share Program </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with our IPO, our remuneration committee approved a free share program for all employees (other than short-term employees)
situated in the United States, France, Germany, Switzerland, and the Czech Republic. Under this program, each eligible employee received an award of 25 restricted stock units under the Constellium 2013 Equity Plan in May 2013 that will vest and be
settled in ordinary shares on the second anniversary of our IPO, subject to the applicable employee remaining employed by the Company or its subsidiaries through that date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Shareholding Retention Program </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
October 2013, our remuneration committee approved a shareholding retention program to encourage critical members of our senior management team to maintain a significant portion of their current investment under the Company&#146;s Management Equity
Plan (the &#147;MEP&#148;) (described in &#147;&#151;Management Equity Plan&#148; below), if applicable, and to focus such individuals on business performance that creates shareholder value. Pursuant to this program, certain members of our senior
management team were awarded a one-time retention award under the Constellium 2013 Equity Plan consisting of a grant of restricted stock units with a grant date value equal to a specified percentage of the recipient&#146;s annual base salary. The
restricted stock units will vest and be settled for </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-89- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
our ordinary shares on the second anniversary of the date of grant, subject to the recipient remaining continuously employed with the Company through that date, and for any recipient who is an
MEP participant, subject to his or her retaining at least 75% of his or her interest in our ordinary shares under the MEP (including any interest in ordinary shares that becomes vested following the date of grant), and his or her compliance with the
protocol to be established by the Company for the orderly liquidation of shares held in the MEP. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Co-investment Award Program </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Also in October 2013, our remuneration committee approved a co-investment award program for certain critical members of our senior management
team for 2014. Each participant in this program was given the opportunity to invest in our ordinary shares, between 30% and 50% of the gross annual bonus he or she earns under the EPA in respect of 2013. Participants who opted to invest under this
program will be granted performance-based restricted stock units under the Constellium 2013 Equity Plan (&#147;performance RSUs&#148;) in an amount equal to a specified multiple of the ordinary shares invested. The performance RSUs will vest and be
settled for our ordinary shares on the second anniversary of the date of grant, subject to the achievement of certain performance goals based on total shareholder return, the participant remaining continuously employed with the Company through that
date, his or her retaining at least 75% of his or her interest in our ordinary shares under the MEP (including any interest in ordinary shares that becomes vested following the date of grant), if applicable, and 100% of his or her investment under
this program, and his or her compliance with the protocol to be established by the Company for the orderly liquidation of shares held in the MEP, if applicable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Employment and Service Arrangements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We
are party to employment or services agreements with each of our officers. We may terminate certain officers&#146; employment with or services to us for &#147;cause&#148; upon advance written notice, without compensation, for certain acts of the
officer. Each officer may terminate his or her employment at any time upon advance written notice to us. In the event that the officer&#146;s employment or service is terminated by us without cause or, in the case of certain executives, by him for
&#147;good reason,&#148; the officer is entitled to certain payments as provided by applicable laws or collective bargaining agreements or as otherwise provided under the applicable employment or services agreements. Except for the foregoing, our
officers are not entitled to any severance payments upon the termination of their employment or services for any reason. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under such
employment and services agreements, each of our officers has also agreed not to engage or participate in any business activities that compete with us or solicit our employees or customers for (depending on the officer) up to two years after the
termination of his employment or services. They have further agreed not to use or disseminate any confidential information concerning us as a result of performing their duties or using our resources during their employment with or services to us.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>C. Board Practices </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our board of directors currently consists of ten directors, less than a majority of whom are citizens or residents of the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We maintain a one-tier board of directors consisting of both executive directors and non-executive directors (each a &#147;director&#148;).
Under Dutch law, the board of directors is responsible for our policy and day-to-day management. The non-executive directors supervise and provide guidance to the executive directors. Each director owes a duty to us to properly perform the duties
assigned to him and to act in our corporate interest. Under Dutch law, the corporate interest extends to the interests of all corporate stakeholders, such as shareholders, creditors, employees, customers and suppliers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>The Management and Supervision Act (<I>Wet bestuur en toezicht</I>), effective as of January&nbsp;1, 2013, strives for a balanced
composition of management and supervisory boards of &#147;large&#148; companies, such as Constellium, to the<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-90- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>
</I>effect that at least 30% of the positions on the management and supervisory boards of such companies are held by women and at least 30% by men. There is no legal sanction if the composition
of such company&#146;s board is not balanced in accordance with the Act. An appointment contrary to these rules will therefore not be null and void. However, in such case, the company must explain any noncompliance with the 30% criteria in its
annual report. The explanation must include the reasons for noncompliance and the actions the company intends to take in order to comply in the future. These rules will expire on January&nbsp;1, 2016, but may be extended prior to this date.<I>
</I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Articles of Association provide that our shareholders acting at a general meeting (a &#147;General Meeting&#148;) appoint
directors upon a binding nomination by the board of directors. The General Meeting may at all times overrule the binding nature of such nomination by a resolution adopted by a majority of at least two-thirds of the votes cast, provided that such
majority represents more than 50% of our issued share capital. If the binding nomination is overruled, the non-executive directors may then make a new nomination. If such a nomination has not been made or has not been made in time, this shall be
stated in the notice and the General Meeting shall be free to appoint a director in its discretion. Such a resolution of the General Meeting must be adopted by at least two-thirds of the votes cast, provided that such majority represents more than
50% of our issued share capital. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The members of our board of directors may be suspended or dismissed at any time by the General Meeting.
A resolution to suspend or dismiss a director must be adopted by at least two-thirds of the votes cast, provided that such majority represents more than 50% of our issued share capital. If, however, the proposal to suspend or dismiss the directors
is made by the board of directors, the proposal must be adopted by simple majority of the votes cast at the General Meeting. An executive director can at all times be suspended by the board of directors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Director Independence </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As a foreign private issuer under the NYSE rules, we are not required to have independent directors on our board of directors, except to the
extent that our audit committee is required to consist of independent directors. However, our board of directors has determined that, under current NYSE listing standards regarding independence (which we are not currently subject to), and taking
into account any applicable committee standards, Messrs. Brandjes, Guillemot, Hartman, Maugis, Ormerod and Paschke and Ms.&nbsp;Walker are independent directors. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Committees </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Audit Committee
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, our audit committee consisted of the following independent directors under the NYSE requirements:
Werner Paschke (Chair), Philippe Guillemot, Guy Maugis, John Ormerod and Lori Walker. Our board of directors has determined that at least one member is an &#147;audit committee financial expert&#148; as defined by the SEC and also meets the
additional criteria for independence of audit committee members set forth in Rule 10A-3(b)(1) under the Securities Exchange Act of 1934, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The principal duties and responsibilities of our audit committee are to oversee and monitor the following: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our financial reporting process and internal control system; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the integrity of our consolidated financial statements; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the independence, qualifications and performance of our independent registered public accounting firm; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the performance of our internal audit function; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our related party transactions; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">our compliance with legal, ethical and regulatory matters. </TD></TR></TABLE> <P STYLE="font-size:18pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-91- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Remuneration Committee </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, our remuneration committee consisted of three directors: Matthew Nord (Chair), Richard Evans and Peter Hartman.
The principal duties and responsibilities of the remuneration committee are as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to review, evaluate and make recommendations to the full board of directors regarding our compensation policies and establish performance-based incentives that support our long-term goals, objectives and interests;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to review and approve the compensation of our Chief Executive Officer, all employees who report directly to our Chief Executive Officer and other members of our senior management; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to review and make recommendations to the board of directors with respect to our incentive compensation plans and equity-based compensation plans; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to set and review the compensation of and reimbursement policies for members of the board of directors; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to provide oversight concerning selection of officers, management succession planning, expense accounts, indemnification and insurance matters, and separation packages; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to provide regular reports to the board of directors and take such other actions as are necessary and consistent with our Articles of Association. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><I>Nominating/Governance Committee </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, our nominating/corporate governance committee consisted of three directors: Richard Evans (Chair), Michiel
Brandjes and Matthew Nord. The principal duties and responsibilities of the nominating/corporate governance committee are as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to establish criteria for board and committee membership and recommend to our board of directors proposed nominees for election to the board of directors and for membership on committees of our board of directors; and
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to make recommendations to our board of directors regarding board governance matters and practices. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>D. Employees </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of
December&nbsp;31, 2014, we employed approximately 8,900 employees of which approximately 85% were engaged in production and maintenance activities and approximately 15% were employed in support functions. Approximately 44% of our employees were
employed in France, 22% in Germany, 15% in the United States, 9% in Switzerland, and 11% in Eastern Europe and other regions. As of December&nbsp;31, 2013 and 2012, we employed approximately 8,600 and 8,845 employees, respectively. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The vast majority of non-U.S. employees and approximately 53% of U.S. employees are covered by collective bargaining agreements. These
agreements are negotiated on site, regionally or on a national level and are of different durations. Except in connection with prior negotiations completed during the fourth quarter of 2011, around our plan to restructure our plant in Ham, France
(which has since been disposed of), we have not experienced a prolonged labor stoppage in any of our production facilities in the past 10 years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to our employees, we employed 691, 1,031 and 600 temporary employees, respectively, as of December&nbsp;31, 2012, 2013, and 2014.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>E. Share Ownership </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Information with respect to share ownership of members of our board of directors and our senior management is included in &#147;Item 7. Major
Shareholders and Related Party Transactions.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-92- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Management Equity Plan </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Following the Acquisition, a management equity plan (the &#147;MEP&#148;) was established effective from February&nbsp;4, 2011, to facilitate
investments by our officers and other members of management in Constellium. In connection with the MEP, a German limited partnership, Omega Management GmbH&nbsp;&amp; Co. KG (&#147;Management KG&#148;), was formed. As of December&nbsp;31, 2014,
Management KG held approximately 2.55% of the issued share capital of Constellium, consisting of 2,675,809 Class&nbsp;A ordinary shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indirect owners of the shares in Constellium held by Management KG are current and former directors, officers and employees of Constellium
(the &#147;MEP Participants&#148;), and Stichting Management Omega, a foundation under Dutch law. In acquiring limited partnership interests in Management KG (and thereby indirectly investing in Constellium), the MEP Participants invested a total
amount of approximately $5,330,539 as of December&nbsp;31, 2012. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Certain of our executive officers, including our Chief Executive
Officer, Mr.&nbsp;Vareille, and our Chief Financial Officer, Mr.&nbsp;Fontaine, each participate in the MEP. As of December&nbsp;31, 2014, the MEP investment of Mr.&nbsp;Vareille represented 972,080 Class&nbsp;A ordinary shares; and the MEP
investment of Mr.&nbsp;Fontaine represented 131,985 Class&nbsp;A ordinary shares. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During November 2013, limited partners of Management KG
(other than the limited partners who were former employees of Constellium or who were to imminently become former employees of Constellium) were offered the opportunity to participate in trading plans to be established by Management KG under Rule
10b5-1 promulgated under the Exchange Act (the &#147;MEP Trading Plans&#148;) for the orderly liquidation of shares held in the MEP. The first such plan was established on December&nbsp;13, 2013 and a total of 30 limited partners elected to
participate in such plan, which commenced trading on January&nbsp;13, 2014. A second such trading plan was established on June&nbsp;13, 2014 and a total of 33 limited partners elected to participate in such plan, which commenced trading on
July&nbsp;14, 2014. As of December&nbsp;31, 2014, 497,759 Class&nbsp;A ordinary shares have been sold pursuant to the MEP Trading Plans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Once a MEP Participant invests in the MEP and becomes vested in his or her Management KG limited partnership interests, if applicable, he or
she becomes eligible to receive the economic benefits relating to a certain proportion of shares held by Management KG attributable to his or her limited partnership interest, such as dividends (if any) on the shares, the Management KG&#146;s annual
profits and residual profits, and proceeds of sales of shares held by Management KG upon dissolution of the MEP. A MEP Participant&#146;s benefits may be terminated if, for instance, his or her employment with Constellium terminates. A leaver,
either a &#147;good leaver&#148; or &#147;bad leaver&#148; for the purpose of the MEP, may be obliged to sell his or her Management KG limited partnership interests to Stichting Management Omega. The amount paid for those limited partnership
interests depends upon, among other things, the reason for the MEP Participant&#146;s termination and the length of his or her investment and the performance of Constellium. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Management KG limited partnership interests held by MEP Participants in respect of Class B ordinary shares are granted in service- and
performance-vesting tranches, in an amount solely in the discretion of the MEP Board (as defined below). The service-vesting tranche vests in 20% increments on each of the first, second, third, fourth, and fifth anniversaries of a MEP
Participant&#146;s effective investment date if the MEP Participant continues employment with Constellium through the applicable vesting date. The performance-vesting tranches generally vest in 20% increments in respect of the financial year that
includes the MEP Participant&#146;s effective investment date and each of the following four financial years only if the MEP Participant continues employment with Constellium through the end of the applicable year and Constellium attains certain
Adjusted EBITDA targets in respect of that financial year (as shown by the audited accounts for the relevant financial year), which targets may be adjusted to account for the impact of certain non-ordinary-course transactions. If the Adjusted EBITDA
targets with respect to a financial year are not attained, the performance-vesting sub-tranches that were eligible to vest during such year remain eligible to vest based on the level of Adjusted EBITDA attainment in the following
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-93- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
year, and performance-vesting sub-tranches eligible to vest in a future year may vest earlier based on the level of Adjusted EBITDA attainment during the year prior to the scheduled vesting year,
in each case subject to certain terms and conditions set forth in the partnership agreement of Management KG. Because Constellium achieved the Adjusted EBITDA targets for the years 2011, 2012 and 2013, the relevant performance-vesting tranches in
respect of those years vested. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The general partner of Management KG is Omega MEP GmbH (&#147;GP GmbH&#148;), a German limited liability
company, which is wholly owned by Stichting Management Omega. The main terms and conditions of the MEP are set out in the partnership agreement of Management KG, effective as of May&nbsp;21, 2013, as amended from time to time. An overview of the
corporate structure of the MEP is set out below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g908770g06e40.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At the level of GP GmbH, an advisory board consisting of representatives appointed by our board of
directors (the &#147;MEP Board&#148;) administers the MEP. Employees and officers who invested in the MEP (either directly or through one or more investment vehicles) hold a limited partnership interest in Management KG that corresponds to a portion
of the shares in Constellium held by Management KG. In connection with our IPO, the MEP Board determined that the MEP would be frozen to future participation and that no other employees, officers or directors of Constellium would be invited to
become MEP Participants. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The main function of Stichting Management Omega is to act as a &#147;warehousing&#148; entity following a
situation in which MEP Participants cease to be employed by Constellium. In such a circumstance, Stichting Management Omega is entitled to acquire all or part of the limited partnership interest in Management KG attributable to a departing MEP
Participant under the conditions of the MEP. Our board of directors has the power to appoint the board of Stichting Management Omega. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
connection with our IPO, our board of directors approved the reacquisition and our shareholders approved the cancellation of all the Constellium shares attributable to the Management KG interests held by Stichting Management Omega, and all such
shares were reacquired by us prior to the consummation of the IPO. As a result of this reacquisition, the Management KG interests held by Stichting Management Omega ceased to have economic value, and Stichting Management Omega ceased to be an
indirect owner of our ordinary shares. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-94- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Following the completion of the IPO, Stichting Management Omega continues to be a limited partner
of Management KG and remains entitled to acquire all or part of the limited partnership interests in Management KG attributable to any MEP Participant who ceases to be employed by Constellium. If Stichting Management Omega acquires all or a portion
of such limited partnership interests, the shares held by Management KG in respect of the acquired limited partnership interests will be sold in the market and/or reacquired and cancelled by Constellium to fund the price payable to such MEP
Participant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with our IPO, the MEP was frozen for future participation and it is now contemplated that the MEP will be
terminated, with any future equity incentive awards to be granted under the Constellium 2013 Equity Plan. In connection with the contemplated termination of the MEP, our board of directors approved the accelerated vesting of the unvested limited
partnership interests held by MEP participants and the corresponding conversion of the Class B ordinary shares held by Management KG in respect of those limited partnership interests into Class&nbsp;A ordinary shares which was also approved at our
2014 general meeting of shareholders. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Equity Incentive Plan </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company adopted the Constellium 2013 Equity Plan under which certain of our directors, officers, employees, and consultants are eligible to
receive equity awards. See &#147;&#151;Constellium N.V. 2013 Equity Incentive Plan&#148; above. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_10"></A>Item&nbsp;7.
Major Shareholders and Related Party Transactions </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. Major Shareholders </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table sets forth the principal shareholders of Constellium N.V. (each person or group of affiliated persons who is known to be
the beneficial owner of more than 5% of ordinary shares) and the number and percentage of ordinary shares owned by each such shareholder, in each case as of April&nbsp;20, 2015. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the rules of the SEC, a person is deemed to be a &#147;beneficial owner&#148; of a security if that person has or shares &#147;voting
power,&#148; which includes the power to vote or to direct the voting of such security, or &#147;investment power,&#148; which includes the power to dispose of or to direct the disposition of such security. A person is also deemed to be a beneficial
owner of any securities of which that person has a right to acquire beneficial ownership within 60 days. Under these rules, more than one person may be deemed to be a beneficial owner of such securities as to which such person has voting or
investment power. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-95- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The beneficial ownership percentages in this table have been calculated on the basis of the total
number of Class&nbsp;A ordinary shares and Class B ordinary shares. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:86.80pt; font-size:8pt; font-family:Times New Roman"><B>Name of beneficial owner</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Number of<BR>Class A<BR>ordinary<BR>shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Number&nbsp;of<BR>Class B<BR>ordinary<BR>shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Beneficial<BR>ownership<BR>percentage</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bpifrance Participations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,846,969</TD>
<TD NOWRAP VALIGN="bottom">(1)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Blackrock, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,003,411</TD>
<TD NOWRAP VALIGN="bottom">(2)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Wellington Management Group LLP</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,151,060</TD>
<TD NOWRAP VALIGN="bottom">(3)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.7</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ontario Teachers&#146; Pension Plan Board</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,574,393</TD>
<TD NOWRAP VALIGN="bottom">(4)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prudential Financial, Inc.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,467,579</TD>
<TD NOWRAP VALIGN="bottom">(5)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jennison Associates LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6,467,250</TD>
<TD NOWRAP VALIGN="bottom">(6)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.2</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Barclays PLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5,576,322</TD>
<TD NOWRAP VALIGN="bottom">(7)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.35</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Directors and Senior Management</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Richard B. Evans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105,783</TD>
<TD NOWRAP VALIGN="bottom">(8)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pierre Vareille</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">984,580</TD>
<TD NOWRAP VALIGN="bottom">(9)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guy Maugis</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Matthew H. Nord</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Philippe Guillemot</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,408</TD>
<TD NOWRAP VALIGN="bottom">(10)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Werner P. Paschke</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,408</TD>
<TD NOWRAP VALIGN="bottom">(11)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Michiel Brandjes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,225</TD>
<TD NOWRAP VALIGN="bottom">(12)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Peter F. Hartman</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,225</TD>
<TD NOWRAP VALIGN="bottom">(13)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">John Ormerod</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,225</TD>
<TD NOWRAP VALIGN="bottom">(14)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lori A. Walker</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,225</TD>
<TD NOWRAP VALIGN="bottom">(15)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Didier Fontaine</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">131,985</TD>
<TD NOWRAP VALIGN="bottom">(16)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Laurent Musy</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">269,252</TD>
<TD NOWRAP VALIGN="bottom">(17)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Paul Warton</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">224,488</TD>
<TD NOWRAP VALIGN="bottom">(18)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Represents beneficial ownership of less than one percent. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">This information is based on a Schedule 13D/A filed with the SEC on July&nbsp;25, 2013. Bpifrance Participations (&#147;Bpifrance&#148;) is a wholly-owned subsidiary of BPI-Groupe (bpifrance), a French financial
institution (&#147;BPI&#148;) jointly owned and controlled by the Caisse des D&eacute;p&ocirc;ts et Consignations, a French special public entity (&eacute;tablissement special) (&#147;CDC&#148;) and EPIC BPI-Groupe, a French public institution of
industrial and commercial nature (&#147;EPIC&#148;). Bpifrance holds directly 12,846,969 ordinary shares and neither BPI, CDC nor EPIC holds any ordinary shares directly. BPI may be deemed to be the beneficial owner of 12,846,969 ordinary shares,
indirectly through its sole ownership of Bpifrance. CDC and EPIC may be deemed to be the beneficial owners of 12,846,969 ordinary shares, indirectly through their joint ownership and control of BPI. The principal address for CDC is 56, rue de Lille,
75007 Paris, France and for Bpifrance, BPI and EPIC is 27-31 avenue du G&eacute;n&eacute;ral Leclerc 94700 Maisons-Alfort, France. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">This information is based on a Schedule 13G filed with the SEC on February&nbsp;2, 2015. BlackRock Inc. reports that it has sole voting power with respect to 8,975,290 ordinary shares and sole dispositive power with
respect to 9,003,411 ordinary shares. The principal address for Blackrock Inc. is 55 East 52nd Street, New York, NY 10022. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">This information is based on a Schedule 13G filed with the SEC on February&nbsp;9, 2015. Represents shares owned of record by clients of one or more investment advisers directly or indirectly owned by Wellington
Management Group LLP, formerly known as Wellington Management Company, LLP, which was an investment adviser to these clients as of December&nbsp;31, 2014. Those clients have the right to receive, or the power to direct the receipt of, dividends
from, or the proceeds from the sale of, such ordinary shares. No such client is known to have such right or power with respect to more than five percent of our ordinary shares. Wellington Management Group LLP reports that it has shares voting power
with respect to 6,110,080 ordinary shares and shared dispositive power with respect to 9,151,060 ordinary shares. The principal address for Wellington Management Company LLP is 280 Congress Street, Boston, MA 02210. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-96- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(4)</TD>
<TD ALIGN="left" VALIGN="top">This information is based on a Schedule 13G/A filed with the SEC on February&nbsp;13, 2015. Ontario Teachers&#146; Pension Plan Board (&#147;OTPP&#148;) reports that it has sole voting power with respect to 8,574,393
ordinary shares and sole dispositive power with respect to 8,574,393 ordinary shares. Of the 8,574,393 Class&nbsp;A ordinary shares beneficially owned by OTPP, 12,623 Class&nbsp;A ordinary shares were held by a third party investment adviser trading
on behalf of Downsview Managed Account Platform Inc. (&#147;DMAP&#148;), a wholly-owned direct subsidiary of OTPP. The DMAP shares were held in a discretionary trading account with the relevant investment manager being terminable on less than 60
days&#146; notice. The principal address for OTPP is 5650&nbsp;Yonge Street, 3rd Floor, Toronto, Ontario, Canada M2M 4H5. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(5)</TD>
<TD ALIGN="left" VALIGN="top">This information is based on a Schedule 13G/A filed with the SEC on January&nbsp;27, 2015. Prudential Financial, Inc. (&#147;Prudential&#148;) reports that it has sole voting and sole dispositive power over 384,681
ordinary shares, shared voting power over 5,332,258 ordinary shares, and shared dispositive power over 6,082,898 shares. Prudential is a parent holding company and the indirect parent of Jennison Associates LLC and Quantitative Management Associates
LLC, who are the beneficial owners of 6,467,250 ordinary shares and 329 ordinary shares, respectively. As a result, Prudential may have direct or indirect voting and/or investment discretion over 6,467,579 shares. The principal address for
Prudential Financial, Inc. is 751&nbsp;Broad Street, Newark, New Jersey 07102-3777. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(6)</TD>
<TD ALIGN="left" VALIGN="top">This information is based on a Schedule 13G/A filed with the SEC on February&nbsp;9, 2015.Jennison Associates LLC (&#147;Jennison&#148;) reports that it has sole voting power with respect to 5,716,610 shares, and shared
dispositive power with respect to 6,467,250 ordinary shares. Jennison furnishes investment advice to several investment companies, insurance separate accounts, and institutional clients (&#147;Managed Portfolios&#148;). As a result of its role as
investment adviser of the Managed Portfolios, Jennison may be deemed to be the beneficial owner of our ordinary shares held by such Managed Portfolios. Prudential indirectly owns 100% of equity interests of Jennison. As a result, Prudential may be
deemed to have the power to exercise or to direct the exercise of such voting and/or dispositive power that Jennison may have with respect to our ordinary shares held by the Managed Portfolios. Jennison does not file jointly with Prudential, as
such, our ordinary shares reported on Jennison&#146;s 13G/A may be included in the shares reported on the 13G/A filed by Prudential. The principal address for Jennison is 466 Lexington Avenue, New York, NY 10017. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(7)</TD>
<TD ALIGN="left" VALIGN="top">This information is based on a Schedule 13G filed with the SEC on February&nbsp;13, 2015. Barclays PLC (&#147;Barclays&#148;) reports that it has sole voting and sole dispositive power over 5,576,322 ordinary shares.
Barclays Capital Inc. (&#147;Barclays Capital&#148;) reports that it has sole voting and sole dispositive power over 5,567,921 ordinary shares. Barclays Capital Securities Limited (&#147;BCSL&#148;) reports that it has sole voting and sole
dispositive power over 8,400 ordinary shares. Barclays Capital Derivative Funding (&#147;BCDF&#148;) reports that it has sole voting and sole dispositive power over 1 ordinary share. The securities being reported on by Barclays PLC, as a parent
holding company, are owned, or may be deemed to be beneficially owned, by Barclays Capital Inc., a broker or dealer registered under Section 15 of the Act, Barclays Bank PLC, a non-US banking institution registered with the Financial Conduct
Authority authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom and Barclays Capital Securities Limited, a non-US broker or dealer registered
with the Financial Conduct Authority regulated by the Financial Conduct Authority and the Prudential Regulation Authority in the United Kingdom. Barclays Capital Inc., Barclays Bank PLC, BCDF and BCSL are wholly-owned subsidiaries of Barclays PLC.
The principal address for (1)&nbsp;Barclays PLC is 1&nbsp;Churchill Place, London, E14 5HP, England, (2)&nbsp;Barclays Capital Inc. is 745 Seventh Avenue, New York, NY 10019, (3)&nbsp;BCSL is 5 The North Colonnade, Canary Wharf, London, E14 4BB,
England and (4)&nbsp;BCFD is c/o Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(8)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 105,783&nbsp;Class&nbsp;A ordinary shares held indirectly by Mr.&nbsp;Evans through the Evans Family Inter Vivos Revocable Trust. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(9)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 972,080 Class&nbsp;A ordinary shares indirectly held by Mr.&nbsp;Vareille through his investment in the MEP and 12,500 Class&nbsp;A ordinary shares which Mr.&nbsp;Vareille purchased directly in 2014.
Excludes 52,427 Class&nbsp;A ordinary shares underlying unvested restricted stock units, which will vest on November&nbsp;1, 2015, in each case, subject to Mr.&nbsp;Vareille&#146;s continued employment with Constellium through such date.
</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-97- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(10)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 2,204 Class&nbsp;A ordinary shares underlying unvested restricted stock units that vested on May&nbsp;23, 2014 and 2,204 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest
on May&nbsp;23, 2015 (within 60 days of the filing of this report), subject to Mr.&nbsp;Guillemot&#146;s continued service to Constellium through such date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(11)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 2,204 Class&nbsp;A ordinary shares underlying unvested restricted stock units that vested on May&nbsp;23, 2014 and 2,204 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest
on May&nbsp;23, 2015 (within 60 days of the filing of this report), subject to Mr.&nbsp;Paschke&#146;s continued service to Constellium through such date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(12)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 1,113 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2015 (within 60 days of the filing of this report) subject to Mr.&nbsp;Brandjes&#146; continued
service to Constellium through such date. Excludes 1,112 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2016, subject to Mr.&nbsp;Brandjes&#146; continued service to Constellium through such
date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(13)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 1,113 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2015 (within 60 days of the filing of this report), subject to Mr.&nbsp;Hartman&#146;s continued
service to Constellium through such date. Excludes 1,112 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2016, subject to Mr.&nbsp;Hartman&#146;s continued service to Constellium through such
date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(14)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 1,113 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2015 (within 60 days of the filing of this report), subject to Mr.&nbsp;Ormerod&#146;s continued
service to Constellium through such date. Excludes 1,112 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2016, subject to Mr.&nbsp;Ormerod&#146;s continued service to Constellium through such
date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(15)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 1,113 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2015 (within 60 days of the filing of this report), subject to Ms.&nbsp;Walker&#146;s continued
service to Constellium through such date. Excludes 1,112 Class&nbsp;A ordinary shares underlying unvested restricted stock units that will vest on June&nbsp;11, 2016, subject to Ms.&nbsp;Walker&#146;s continued service to Constellium through such
date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(16)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 127,485 Class&nbsp;A ordinary shares indirectly held by Mr.&nbsp;Fontaine through his investment in the MEP and 4,500 Class&nbsp;A ordinary shares Mr.&nbsp;Fontaine purchased directly in 2014. Excludes 25
Class&nbsp;A ordinary shares underlying unvested restricted stock units, which will vest on May&nbsp;23, 2015, and 25,432 Class&nbsp;A ordinary shares underlying unvested restricted stock units, which will vest on November&nbsp;1, 2015, in each
case, subject to Mr.&nbsp;Fontaine&#146;s continued employment with Constellium through such date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(17)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 265,452 Class&nbsp;A ordinary shares indirectly held by Mr.&nbsp;Musy through his investment in the MEP and 3,800 Class&nbsp;A ordinary shares Mr.&nbsp;Musy purchased directly in 2014. Excludes 25
Class&nbsp;A ordinary shares underlying unvested restricted stock units, which will vest on May&nbsp;23, 2015, and 14,970 Class&nbsp;A ordinary shares underlying unvested restricted stock units, which will vest on November&nbsp;1, 2015, in each
case, subject to Mr.&nbsp;Musy&#146;s continued employment with Constellium through such date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(18)</TD>
<TD ALIGN="left" VALIGN="top">Consists of 221,213 Class&nbsp;A ordinary shares indirectly held by Mr.&nbsp;Warton through his investment in the MEP and 3,275 Class&nbsp;A ordinary shares Mr.&nbsp;Warton purchased directly in 2014. Excludes 25
Class&nbsp;A ordinary shares underlying unvested restricted stock units, which will vest on May&nbsp;23, 2015, and 14,896 Class&nbsp;A ordinary shares underlying unvested restricted stock units, which will vest on November&nbsp;1, 2015, in each
case, subject to Mr.&nbsp;Warton&#146;s continued employment with Constellium through such date. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">None of our principal
shareholders have voting rights different from those of our other shareholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Over the last three years, the only significant changes
of which we have been notified in the percentage ownership of our shares by our major shareholders described above were that prior to the IPO, immediately following the completion of the purchase of the AEP Business: Apollo Funds held 51% of our
Class&nbsp;A ordinary shares, Rio Tinto held 39% of our Class&nbsp;A ordinary shares, and Bpifrance (f/k/a FSI) held 10% of our Class&nbsp;A ordinary shares. As of the date of this Annual Report, Apollo Funds holds 0% of our Class&nbsp;A ordinary
shares, Rio </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-98- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Tinto holds ten shares of our Class&nbsp;A ordinary shares and Bpifrance holds 12.2% of our class A ordinary shares, respectively. See &#147;Item 4. Information on the Company&#151;A. History and
Development of the Company.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Related Party Transactions </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Pre-IPO Shareholders Agreement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
connection with the Acquisition, Apollo Omega, Rio Tinto, Bpifrance and the other parties thereto entered into a pre-IPO Shareholders Agreement, dated as of January&nbsp;4, 2011 (the &#147;Pre-IPO Shareholders Agreement&#148;). The Pre-IPO
Shareholders Agreement provided for, among other items, certain restrictions on the transferability of equity ownership in Constellium as well as certain tag-along rights, drag-along rights, and piggy-back registration rights. We amended and
restated the Pre-IPO Shareholders Agreement in connection with the IPO. See &#147;&#151;Amended and Restated Shareholders Agreement.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amended and
Restated Shareholders Agreement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company, Apollo Omega, Rio Tinto and Bpifrance entered into an amended and restated shareholders
agreement on May&nbsp;29, 2013 (the &#147;Shareholders Agreement&#148;). The Shareholders&#146; Agreement terminated with respect to Apollo Omega and Rio Tinto in connection with certain of their respective sales of our ordinary shares described
elsewhere in this Annual Report. The Shareholders&#146; Agreement provides for, among other things, piggyback registration rights and demand registration rights for Bpifrance for so long as Bpifrance owns any of our ordinary shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, the Shareholders Agreement provides that, except as otherwise required by applicable law, Bpifrance will be entitled to designate
for binding nomination one director to our board of directors so long as its percentage ownership interest is equal to or greater than 4% or it continues to hold all of the ordinary shares it subscribed for at the closing of the Acquisition (such
share number adjusted for the pro rata share issuance). Our directors will be elected by our shareholders acting at a general meeting upon a binding nomination by the board of directors as described in &#147;Item 6. Directors, Senior Management and
Employees&#151;A. Directors and Senior Management.&#148; A shareholder&#146;s percentage ownership interest is derived by dividing (i)&nbsp;the total number of ordinary shares owned by such shareholder and its affiliates by (ii)&nbsp;the total
number of outstanding ordinary shares (but excluding ordinary shares issued pursuant to the MEP). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company has agreed to share
financial and other information with Bpifrance to the extent reasonably required to comply with its tax, investor or regulatory obligations and with a view to keeping Bpifrance properly informed about the financial and business affairs of the
Company. The Shareholders Agreement contains provisions to the effect that Bpifrance is obliged to treat all information provided to it as confidential, and to comply with all applicable rules and regulations in relation to the use and disclosure of
such information. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Management Equity Plan </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Investments by our officers and directors in Constellium were facilitated by their participation in a management equity plan (the
&#147;MEP&#148;), Management KG (a German limited partnership), which subscribed for Class&nbsp;A and Class B ordinary shares in Constellium. Our board of directors has the power to appoint the board of Stichting Management Omega, a foundation under
Dutch law, which is a limited partner of Management KG and wholly owns Omega MEP GmbH, the general partner of Management KG. The main function of Stichting Management Omega is to act as a &#147;warehousing&#148; entity following a situation in which
participants in the MEP cease to be employed by Constellium. In such a circumstance, Stichting Management Omega is entitled to acquire all or part of the limited partnership interest in Management KG attributable to a departing participant in the
MEP under the conditions of the MEP. See also &#147;&#151;Stichting Reacquisition.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-99- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Stichting Reacquisition </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to our IPO, Rio Tinto, Apollo Omega, Bpifrance, Constellium and Stichting Management Omega had entered into an agreement (the
&#147;Funding Agreement&#148;), effective as of July&nbsp;1, 2011, that provided that limited partnership interests in Management KG held by Stichting Management Omega would be so held for the pro rata benefit and risk of Rio Tinto, Apollo Omega,
and Bpifrance. In connection with the freezing of the MEP, our board of directors approved the reacquisition and our shareholders approved the cancellation of all Class&nbsp;A ordinary shares and Class B2 ordinary shares attributable to the
Management KG interests held by Stichting Management Omega, and all such shares were reacquired by us prior to the completion of the IPO for an acquisition amount of approximately &#128;900,000. As a result of this reacquisition, the Management KG
interests held by Stichting Management Omega ceased to have economic value, and Stichting Management Omega ceased to be an indirect owner of our ordinary shares. In connection with the IPO, the Funding Agreement was amended to provide that any
limited partnership interests in Management KG acquired by Stichting Management Omega following the completion of the IPO will be held for the benefit of Constellium. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Share Sales by Management KG </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During
November 2013, limited partners of Management KG (other than the limited partners who were former employees of Constellium or who were to imminently become former employees of Constellium) were offered the opportunity to participate in trading plans
to be established by Management KG under <FONT STYLE="white-space:nowrap">Rule&nbsp;10b5-1&nbsp;promulgated</FONT> under the Exchange Act (the &#147;MEP Trading Plans&#148;) for the orderly liquidation of shares held in the MEP. The first such plan
was established on December&nbsp;13, 2013 and a total of 30 limited partners elected to participate in such plan, which commenced trading on January&nbsp;13, 2014. A second such trading plan was established on June&nbsp;13, 2014 and a total of 33
limited partners elected to participate in such plan, which commenced trading on July&nbsp;14, 2014. As of December&nbsp;31, 2014, 497,759 Class&nbsp;A ordinary shares have been sold pursuant to the MEP Trading Plans. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>C. Interests of Experts and Counsel </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not
applicable. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_11"></A>Item&nbsp;8. Financial Information </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. Consolidated Statements and Other Financial Information </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our consolidated financial statements as of December&nbsp;31, 2013 and 2014 and for the years ended December&nbsp;31, 2012, 2013 and 2014 are
included in this Annual Report at &#147;Item 18. Financial Statements.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Legal Proceedings </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Legal proceedings are disclosed in &#147;Item 4. Information on the Company&#150;&#150;B. Business Overview&#150;&#150;Litigation and Legal
Proceedings.&#148; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dividend Policy </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our board of directors periodically explores the potential adoption of a dividend program; however, no assurances can be made that any future
dividends will be paid on the ordinary shares. Any declaration and payment of future dividends to holders of our ordinary shares will be at the discretion of our board of directors and will depend on many factors, including our financial condition,
earnings, capital requirements, level of indebtedness, statutory future prospects and contractual restrictions applying to the payment of dividends and other considerations that our board of directors deems relevant. In general, any payment of
dividends must be made in accordance with our Amended and Restated Articles of Association and the requirements of Dutch law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-100- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Under Dutch law, payment of dividends and other distributions to shareholders may be made only if our shareholders&#146; equity exceeds the sum of our called up and paid-in share capital plus the
reserves required to be maintained by law and by our Amended and Restated Articles of Association. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Generally, we rely on dividends paid
to Constellium N.V., or funds otherwise distributed or advanced to Constellium N.V., by its subsidiaries to fund the payment of dividends, if any, to our shareholders. In addition, restrictions contained in the agreements governing our outstanding
indebtedness limit our ability to pay dividends on our ordinary shares and limit the ability of our subsidiaries to pay dividends to us. Future indebtedness that we may incur may contain similar restrictions. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Significant Changes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On January&nbsp;5, 2015, we completed the Wise Acquisition. With the closing of the Wise Acquisition, Constellium now has access to 450,000
metric tons (kt) of hot mill capacity from the widest strip mill in North America, reinforcing its position on the can market and positioning Constellium to continue to grow in the North American Body-in-White market. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_12"></A>Item&nbsp;9. The Offer and Listing </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. Offer and Listing Details </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Price
history of stock </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The table below sets forth, for the periods indicated, the reported high and low market prices of our shares on
the NYSE (source: Bloomberg). Our ordinary shares are also listed on the professional segment of Euronext Paris; however, due to an insufficient volume of trading in our ordinary shares on Euronext Paris, information regarding high and low trading
prices is not reported. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="76%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>NYSE</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:56.20pt; font-size:8pt; font-family:Times New Roman"><B>Calendar period</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>High</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Low</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><B>(Price&nbsp;per&nbsp;share&nbsp;in&nbsp;&#128;)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Monthly</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">April 2015 (through April 23)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">17.87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">March 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">February 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">17.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">January 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18.92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15.81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>2014</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">First quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">29.42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">21.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Second quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">32.56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">26.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Third quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">32.61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fourth quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">25.74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15.25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Full year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">32.61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15.25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>2013</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Second quarter (beginning May 23, 2013)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13.26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Third quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">20.67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15.75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fourth quarter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">16.60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Full year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">23.47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">13.26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Plan of Distribution </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-101- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>C. Markets </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We began trading on the NYSE on May&nbsp;23, 2013 and on the professional segment of Euronext Paris on May&nbsp;27, 2013 through a public
offering in the United States. Trading on the NYSE is under the symbol &#147;CSTM.&#148; For more information on our shares see &#147;Item 10. Additional Information&#151;B. Memorandum and Articles of Association.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>D. Selling Shareholders </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>E. Dilution </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>F. Expenses of the issue </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable.
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_13"></A>Item&nbsp;10. Additional Information </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. Share Capital </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Memorandum and Articles of Association </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information called for by this Item has been reported previously in our Registration Statement on Form&nbsp;F-1 (File No.&nbsp;333-188556),
filed with the SEC on May&nbsp;22, 2013, as amended, under the heading &#147;Description of Capital Stock,&#148; and is incorporated by reference into this Annual Report. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>C. Material Contracts </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following is a summary of each material contract, other than material contracts entered into in the ordinary course of business, to which
we are a party, for the two years immediately preceding the date of this Annual Report: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>Employment agreements and benefit plans</I></B><B>.</B><B><I> </I></B>See &#147;Item 6. Directors, Senior Management and Employees&#151;E. Share Ownership&#148; for a description of the material terms of our
employment agreements and benefits plans. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>Amended and Restated Shareholders&#146; Agreement.</I></B> See &#147;Item 7. Major Shareholders and Related Party Transactions&#148; for a description of material terms of this contract. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>Term Loan, Notes, U.S. Revolving Credit Facility and the Factoring Agreements</I></B>. As disclosed below. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><B><I>Metal Supply Agreement</I></B>. As disclosed below. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>May 2014 Notes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On May&nbsp;7, 2014, the Company completed a private offering of $400 million in aggregate principal amount of 5.750% Senior Notes due 2024
(the &#147;2024 U.S.&nbsp;Dollar Notes&#148;) and &#128;300&nbsp;million in aggregate principal amount of 4.625% Senior Notes due 2021 (the &#147;2021 Euro Notes&#148;, and together with the 2024 U.S.&nbsp;Dollar Notes, the &#147;May 2014
Notes&#148;) pursuant to indentures among the Company, the guarantors party thereto, and Deutsche </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-102- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Bank Trust Company Americas, as trustee. A portion of the net proceeds of the May 2014 Notes were used to repay amounts outstanding under our senior secured term loan B facility, including
related transaction fees, expenses, and prepayment premium thereon. We used the remaining net proceeds for general corporate purposes, including to put additional cash on our balance sheet. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest on the 2024 U.S.&nbsp;Dollar Notes and 2021 Euro Notes accrues at rates of 5.750% and 4.625%&nbsp;per annum, respectively, and is
payable semi-annually beginning November&nbsp;15, 2014. The 2024 U.S.&nbsp;Dollar Notes mature on May&nbsp;15, 2024, and the 2021 Euro Notes mature on May&nbsp;15, 2021. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to May&nbsp;15, 2019, we may redeem some or all of the 2024 U.S.&nbsp;Dollar Notes at a price equal to 100% of the principal amount of
the 2024 U.S.&nbsp;Dollar Notes redeemed plus accrued and unpaid interest, if any, to the redemption date plus a &#147;make-whole&#148; premium. On or after May&nbsp;15, 2019, we may redeem the 2024 U.S.&nbsp;Dollar Notes at redemption prices
(expressed as a percentage of the principal amount thereof) equal to 102.875% during the twelve-month period commencing on May&nbsp;15, 2019, 101.917% during the twelve-month period commencing on May&nbsp;15, 2020, 100.958% during the twelve-month
period commencing on May&nbsp;15, 2021, and par on or after May&nbsp;15, 2022, in each case plus accrued and unpaid interest, if any, to the redemption date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to May&nbsp;15, 2017, we may redeem some or all of the 2021 Euro Notes at a price equal to 100% of the principal amount of the 2021 Euro
Notes redeemed plus accrued and unpaid interest, if any, to the redemption date plus a &#147;make-whole&#148; premium. On or after May&nbsp;15, 2017, we may redeem the 2021 Euro Notes at redemption prices (expressed as a percentage of the principal
amount thereof) equal to 102.313% during the twelve-month period commencing on May&nbsp;15, 2017, 101.156% during the twelve-month period commencing on May&nbsp;15, 2018, and par on or after May&nbsp;15, 2019, in each case plus accrued and unpaid
interest, if any, to the redemption date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, at any time or from time to time prior to May&nbsp;15, 2017, we may, within 90
days of a qualified equity offering, redeem May 2014 Notes of either series in an aggregate amount equal to up to 35% of the original aggregate principal amount of the May 2014 Notes of the applicable series (after giving effect to any issuance of
additional May 2014 Notes of such series) at a redemption price equal to 100% of the principal amount thereof plus a premium (expressed as a percentage of the principal amount thereof) equal to 5.750% for the 2024 U.S.&nbsp;Dollar Notes and 4.625%
for the 2021 Euro Notes, plus accrued and unpaid interest thereon (if any) to the redemption date, with the net cash proceeds of such qualified equity offering, provided that at least 50% of the original aggregate principal amount of May 2014 Notes
of the series being redeemed would remain outstanding immediately after giving effect to such redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Within 30 days of the
occurrence of specific kinds of changes of control, the Company is required to make an offer to purchase all outstanding May 2014 Notes at a price in cash equal to 101% of the principal amount of the May 2014 Notes, plus accrued and unpaid interest,
if any, to the purchase date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The May 2014 Notes are senior unsecured obligations of Constellium and are guaranteed on a senior unsecured
basis by each of its restricted subsidiaries that guarantees indebtedness under the Unsecured Revolving Credit Facility (as defined below). Each of Constellium&#146;s existing or future restricted subsidiaries (other than receivables subsidiaries)
that guarantees certain indebtedness of Constellium or certain indebtedness of any of the guarantors of the May 2014 Notes must also guarantee the May 2014 Notes. None of Wise or its direct or indirect subsidiaries currently guarantees our
obligations under the May 2014 Notes, and none will to the extent that such action would violate the restrictive covenants in the agreements governing their existing indebtedness. If such covenant restrictions cease to apply, or if the provision of
a guarantee would otherwise no longer violate such restrictive covenants, then Wise and its direct and indirect subsidiaries will provide a guarantee of the May 2014 Notes to the extent required by the indentures governing the May 2014 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indentures governing the May 2014 Notes contain customary terms and conditions, including, among other things, negative covenants limiting
our and our restricted subsidiaries&#146; ability to incur debt, grant liens, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-103- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
enter into sale and lease-back transactions, make investments, loans and advances, make acquisitions, sell assets, pay dividends and other restricted payments, prepay certain debt, merge,
consolidate or amalgamate and engage in affiliate transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indentures governing the May 2014 Notes also contain customary events
of default. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>December 2014 Notes </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
December&nbsp;19, 2014, the Company completed a private offering of $400 million in aggregate principal amount of 8.00% Senior Notes due 2023 (the &#147;2023 U.S.&nbsp;Dollar Notes&#148;) and &#128;240&nbsp;million in aggregate principal amount of
7.00% Senior Notes due 2023 (the &#147;2023 Euro Notes&#148;, and together with the 2023 U.S.&nbsp;Dollar Notes, the &#147;December 2014 Notes&#148;) pursuant to indentures among the Company, the guarantors party thereto, and Deutsche Bank Trust
Company Americas, as trustee. A portion of the net proceeds of the December 2014 Notes were used to finance the Wise Acquisition, including related transaction fees and expenses. We used the remaining net proceeds for general corporate purposes.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest on the 2023 U.S.&nbsp;Dollar Notes and 2023 Euro Notes accrues at rates of 8.00% and 7.00%&nbsp;per annum, respectively, and is
payable semi-annually beginning July&nbsp;15, 2015. The 2023 U.S.&nbsp;Dollar Notes and 2023 Euro Notes mature on January&nbsp;15, 2023. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to January&nbsp;15, 2018, we may redeem some or all of the 2023 U.S.&nbsp;Dollar Notes at a price equal to 100% of the principal amount
of the 2023 U.S.&nbsp;Dollar Notes redeemed plus accrued and unpaid interest, if any, to the redemption date plus a &#147;make-whole&#148; premium. On or after January&nbsp;15, 2018, we may redeem the 2023 U.S.&nbsp;Dollar Notes at redemption prices
(expressed as a percentage of the principal amount thereof) equal to 106.000% during the twelve-month period commencing on January&nbsp;15, 2018, 104.000% during the twelve-month period commencing on January&nbsp;15, 2019, 102.000% during the
twelve-month period commencing on January&nbsp;15, 2020, and par on or after January&nbsp;15, 2021, in each case plus accrued and unpaid interest, if any, to the redemption date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to January&nbsp;15, 2018, we may redeem some or all of the 2023 Euro Notes at a price equal to 100% of the principal amount of the 2023
Euro Notes redeemed plus accrued and unpaid interest, if any, to the redemption date plus a &#147;make-whole&#148; premium. On or after January&nbsp;15, 2018, we may redeem the 2023 Euro Notes at redemption prices (expressed as a percentage of the
principal amount thereof) equal to 105.250% during the twelve-month period commencing on January&nbsp;15, 2018, 103.500% during the twelve-month period commencing on January&nbsp;15, 2019, 101.750% during the twelve-month period commencing on
January&nbsp;15, 2020, and par on or after January&nbsp;15, 2021, in each case plus accrued and unpaid interest, if any, to the redemption date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, at any time or from time to time prior to January&nbsp;15, 2018, we may, within 90 days of a qualified equity offering, redeem
December 2014 Notes of either series in an aggregate amount equal to up to 35% of the original aggregate principal amount of the December 2014 Notes of the applicable series (after giving effect to any issuance of additional December 2014 Notes of
such series) at a redemption price equal to 100% of the principal amount thereof plus a premium (expressed as a percentage of the principal amount thereof) equal to 8.00% for the 2023 U.S.&nbsp;Dollar Notes and 7.00% for the 2023 Euro Notes, plus
accrued and unpaid interest thereon (if any) to the redemption date, with the net cash proceeds of such qualified equity offering, provided that at least 50% of the original aggregate principal amount of December 2014 Notes of the series being
redeemed would remain outstanding immediately after giving effect to such redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Within 30 days of the occurrence of specific kinds
of changes of control, the Company is required to make an offer to purchase all outstanding December 2014 Notes at a price in cash equal to 101% of the principal amount of the December 2014 Notes, plus accrued and unpaid interest, if any, to the
purchase date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-104- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The December 2014 Notes are senior unsecured obligations of Constellium and are guaranteed on a
senior unsecured basis by each of its restricted subsidiaries that guarantees indebtedness under the Unsecured Revolving Credit Facility. Each of Constellium&#146;s existing or future restricted subsidiaries (other than receivables subsidiaries)
that guarantees certain indebtedness of Constellium or certain indebtedness of any of the guarantors of the December 2014 Notes must also guarantee the December 2014 Notes. None of Wise or its direct or indirect subsidiaries currently guarantees our
obligations under the December 2014 Notes, and none will to the extent that such action would violate the restrictive covenants in the agreements governing their existing indebtedness. If such covenant restrictions cease to apply, or if the
provision of a guarantee would otherwise no longer violate such restrictive covenants, then Wise and its direct and indirect subsidiaries will provide a guarantee of the December 2014 Notes to the extent required by the indentures governing the
December 2014 Notes. If Wise Intermediate Holdings LLC or any of its direct or indirect subsidiaries guarantees certain indebtedness of Constellium N.V. or any of the guarantors of the December 2014 Notes in an amount exceeding &#128;50&nbsp;million
in the aggregate, then Wise Intermediate Holdings LLC and/or any such direct or indirect subsidiary will guarantee the December 2014 Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indentures governing the December 2014 Notes contain customary terms and conditions, including, among other things, negative covenants
limiting our and our restricted subsidiaries&#146; ability to incur debt, grant liens, enter into sale and lease-back transactions, make investments, loans and advances, make acquisitions, sell assets, pay dividends and other restricted payments,
prepay certain debt, merge, consolidate or amalgamate and engage in affiliate transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The indentures governing the December 2014
Notes also contain customary events of default. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Unsecured Revolving Credit Facility </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On May&nbsp;7, 2014, the Company entered into a new senior unsecured revolving credit facility (the &#147;Unsecured Revolving Credit
Facility&#148;) pursuant to a credit agreement among the Company, as borrower, the lenders from time to time party thereto and Deutsche Bank AG New York Branch, as administrative agent. The Company amended the Unsecured Revolving Credit Facility on
December&nbsp;5, 2014 and February&nbsp;5, 2015 to, among other things, increase the total commitments and extend the maturity date thereunder, permit the consummation of the Wise Acquisition without Wise guaranteeing the obligations thereunder,
permit the Wise ABL Facility to remain outstanding in an amount of up to $450 million following the consummation of the Wise Acquisition, and amend certain financial covenants thereunder. As amended, the Unsecured Revolving Credit Facility provides
for total commitments of up to &#128;145&nbsp;million, with a maturity date of January&nbsp;5, 2018. The proceeds of the Unsecured Revolving Credit Facility will be used for working capital and general corporate purposes of the Company and its
subsidiaries. In addition, we may increase commitments under our Unsecured Revolving Credit Facility in an aggregate amount of up to &#128;5&nbsp;million, with such additional commitments having terms identical to those of the existing commitments
under the Unsecured Revolving Credit Facility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest under the Unsecured Revolving Credit Facility is calculated based on the adjusted
eurocurrency rate plus 2.50%&nbsp;per annum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to paying interest on outstanding loans under the Unsecured Revolving Credit
Facility, we are required to pay (a)&nbsp;commitment fees equal to 1.00%&nbsp;per annum times the undrawn portion of the commitments under the facility and (b)&nbsp;utilization fees equal to (i)&nbsp;if the daily average drawn portion of the
commitments under the facility (the &#147;Drawn Amount&#148;) is less than 50.0% of the aggregate commitments, 0.25%&nbsp;per annum times the Drawn Amount or (ii)&nbsp;if the Drawn Amount is greater than or equal to 50.0% of the aggregate
commitments, 0.50%&nbsp;per annum times the Drawn Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to customary &#147;breakage&#148; costs, borrowings under the Unsecured
Revolving Credit Facility may be repaid from time to time without premium or penalty. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-105- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our obligations under the Unsecured Revolving Credit Facility are guaranteed by Constellium
Holdco II B.V., Constellium France Holdco S.A.S., Constellium France S.A.S., Constellium Finance S.A.S., Constellium Neuf Brisach S.A.S., Constellium Germany Holdco GmbH&nbsp;&amp; Co. KG, Constellium Deutschland GmbH, Constellium Singen GmbH,
Constellium Switzerland AG, Constellium US Holdings I, LLC, and Constellium Rolled Products Ravenswood, LLC. None of Wise or its direct or indirect subsidiaries currently guarantees our obligations under the Unsecured Revolving Credit Facility, and
none will to the extent that such action would violate the restrictive covenants in the agreements governing Wise&#146;s existing indebtedness. If such covenant restrictions cease to apply, or if the provision of a guarantee would otherwise no
longer violate such restrictive covenants, then Wise and its direct and indirect subsidiaries will provide a guarantee of the Unsecured Revolving Credit Facility to the extent required by the Unsecured Revolving Credit Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Unsecured Revolving Credit Facility contains customary terms and conditions, including, among other things, negative covenants limiting
our and our restricted subsidiaries&#146; ability to incur debt, grant liens, enter into sale and lease-back transactions, make investments, loans and advances, make acquisitions, sell assets, pay dividends and other restricted payments, prepay
certain debt, merge, consolidate or amalgamate and engage in affiliate transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, at any time that loans are
(a)&nbsp;borrowed, to the extent that immediately after giving effect to such borrowing, loans in excess of 30% of the total commitments under the Unsecured Revolving Credit Facility would be outstanding, or (b)&nbsp;outstanding on the last day of
our fiscal quarter, the Unsecured Revolving Credit Facility requires us to (x)&nbsp;maintain a consolidated total net leverage ratio of no more than 4.50 to 1.00, (y)&nbsp;maintain a minimum fixed charge coverage ratio of not less than 2.20 to 1.00,
and (z)&nbsp;ensure that, taken together, the Company and the guarantors of the Unsecured Revolving Credit Facility have (i)&nbsp;assets representing not less than 60% of the consolidated total assets of the Company and its subsidiaries and
(ii)&nbsp;EBITDA representing not less than 75% of the consolidated EBITDA of the Company and its subsidiaries (the requirement in the foregoing clause (z), the &#147;Guarantor Coverage Test&#148;). Wise and its subsidiaries are excluded from the
calculation of the Guarantor Coverage Test while the Wise Notes or the Wise ABL Facility prohibit Wise or such subsidiary from guaranteeing the obligations under the Unsecured Revolving Credit Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Unsecured Revolving Credit Facility also contains customary events of default. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>U.S. Revolving Credit Facility </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
May&nbsp;25, 2012, Constellium Rolled Products Ravenswood, LLC (&#147;Ravenswood, LLC&#148;) entered into a $100 million asset-based revolving credit facility (the &#147;U.S. Revolving Credit Facility&#148;), with the lenders from time to time party
thereto and Deutsche Bank Trust Company Americas as administrative agent (the &#147;U.S. Administrative Agent&#148;) and collateral agent. Ravenswood, LLC amended the U.S. Revolving Credit Facility on October&nbsp;1, 2013 to, among other things,
extend the maturity to October 2018 and reduce pricing. As amended, the U.S. Revolving Credit Facility has sublimits of $25 million for letters of credit and 10% of the revolving credit facility commitments for swingline loans. The U.S. Revolving
Credit Facility provides Ravenswood, LLC a working capital facility for its operations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Ravenswood, LLC&#146;s ability to borrow under
the U.S. Revolving Credit Facility is limited to a borrowing base equal to the sum of (a)&nbsp;85% of eligible accounts receivable plus (b)&nbsp;up to the lesser of (i)&nbsp;80% of the lesser of cost or market value of eligible inventory and
(ii)&nbsp;85% of the net orderly liquidation value of eligible inventory minus (c)&nbsp;applicable reserves, and is subject to other conditions, limitations and reserve requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest under the U.S. Revolving Credit Facility is calculated, at Ravenswood, LLC&#146;s election, based on either the LIBOR or base rate
(as calculated by the U.S. Administrative Agent in accordance with the U.S. Revolving Credit Facility). LIBOR loans accrue interest at a rate of LIBOR plus a margin of 1.50-2.00%&nbsp;per annum (determined based on average quarterly excess
availability). Base rate loans accrue interest at the base rate plus a margin of 0.50-1.00%&nbsp;per annum (determined based on average quarterly excess availability). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-106- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Ravenswood, LLC is required to pay a commitment fee on the unused portion of the U.S. Revolving Credit Facility of 0.25% or 0.375%&nbsp;per annum (determined on a ratio of unutilized revolving
credit commitments to available revolving credit commitments). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to customary &#147;breakage&#148; costs with respect to LIBOR
loans, borrowings under the U.S. Revolving Credit Facility may be repaid from time to time without premium or penalty. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Ravenswood,
LLC&#146;s obligations under the U.S. Revolving Credit Facility are guaranteed by Constellium U.S. Holdings I, LLC (&#147;U.S. Holdings I&#148;) and Constellium Holdco II B.V. (&#147;Holdco II&#148;). Ravenswood, LLC&#146;s obligations under the
U.S. Revolving Credit Facility are not guaranteed by the Company, Wise Intermediate Holdings LLC or any of its subsidiaries or any of Holdco II&#146;s subsidiaries organized outside of the United States. Ravenswood, LLC&#146;s obligations under the
U.S. Revolving Credit Facility are, subject to certain permitted liens, secured on a first priority basis by substantially all assets of Ravenswood, LLC. Ravenswood, LLC&#146;s obligations under the U.S. Revolving Credit Facility are not secured by
any assets of Wise Intermediate Holdings LLC or any of its subsidiaries or the Company or any of its subsidiaries organized outside of the United States. The guarantee by Holdco II of the U.S. Revolving Credit Facility is unsecured. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The U.S. Revolving Credit Facility contains customary terms and conditions, including, among other things, negative covenants limiting
Ravenswood, LLC&#146;s ability to incur debt, grant liens, enter into sale and lease-back transactions, make investments, loans and advances (including to other Constellium group companies), make acquisitions, sell assets, pay dividends and other
restricted payments, prepay certain debt, merge, consolidate or amalgamate and engage in affiliate transactions. The negative covenants contained in the U.S. Revolving Credit Facility do not apply to Wise Intermediate Holdings LLC or any of its
subsidiaries or the Company or any of its subsidiaries organized outside of the United States. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The U.S. Revolving Credit Facility also
contains a minimum availability covenant that requires Ravenswood, LLC to maintain excess availability under the U.S. Revolving Credit Facility of at least the greater of (a)&nbsp;$10 million and (b)&nbsp;10% of the aggregate revolving loan
commitments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The U.S. Revolving Credit Facility also contains customary events of default. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>European Factoring Agreements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
January&nbsp;4, 2011, certain of our French subsidiaries (the &#147;French Sellers&#148;) entered into a factoring agreement with GE Factofrance S.A.S., as factor (the &#147;French Factor&#148;), which has been amended from time to time, including
on January&nbsp;31, 2014 (the &#147;French Factoring Agreement&#148;). On December&nbsp;16, 2010, certain of our German and Swiss subsidiaries (the &#147;German/Swiss Sellers&#148; together with the French Sellers, the &#147;European Factoring
Sellers&#148;) entered into factoring agreements with GE Capital Bank AG, as factor (the &#147;German/Swiss Factor&#148; together with the French Factor, the &#147;European Factors&#148;), which have been amended from time to time (the
&#147;German/Swiss Factoring Agreements,&#148; and together with the French Factoring Agreement, the &#147;European Factoring Agreements&#148;). The European Factoring Agreements provide for the sale by the European Factoring Sellers to the European
Factors of receivables originated by the European Factoring Sellers, subject to a maximum financing amount of &#128;235&nbsp;million available to the French Sellers under the French Factoring Agreement and &#128;115&nbsp;million available to the
German/Swiss Sellers under the German/Swiss Factoring Agreements. The European Factoring Agreements have a termination date of June&nbsp;4, 2017. The funding made available to the European Factoring Sellers by the European Factors is used by the
Sellers for general corporate purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Generally speaking, receivables sold to the European Factors under the European Factoring
Agreements are with limited recourse to the European Factoring Sellers in the event of a payment default by the relevant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-107- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
customer, in the case of the French factoring agreement, to the extent that such receivables are covered by credit insurance purchased for the benefit of the European Factor. The European Factors
are entitled to claim the repayment of any amount financed by them in respect of a receivable by withdrawing the financing provided against such assigned receivable or requiring the European Factoring Sellers to repurchase/unwind the purchase of
such receivable under certain circumstances, including when (i)&nbsp;the non-payment of that receivable arises from a dispute between a European Factoring Seller and the relevant customer, (ii)&nbsp;in relation to the French Factoring Agreement
only, the French Factor cannot recover from a credit insurer for such non-payment or (iii)&nbsp;the receivable proves not to have satisfied the eligibility criteria set forth in the European Factoring Agreements. The European Factoring Agreements
allow the European Factoring Sellers to sell some receivables on a non-recourse basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The German/Swiss Factoring Agreements are without
recourse to the German/Swiss Sellers, respectively, for any credit risk resulting from the inability of a debtor to meet its payment obligations under the receivables sold to the German/Swiss Factor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium Holdco II B.V. has provided a performance guaranty for the Sellers&#146; obligations under the European Factoring Agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to some exceptions, the European Factoring Sellers will collect the transferred receivables on behalf of the European Factors pursuant
to a receivables collection mandate under the European Factoring Agreements. The receivables collection mandate may be terminated upon the occurrence of certain events. In the event that the receivables collection mandate is terminated, the European
Factors will be entitled to notify the account debtors of the assignment of receivables and collect directly from the account debtors the assigned receivables. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The European Factoring Agreements contain customary fees, including (i)&nbsp;a financing fee on the outstanding amount financed in respect of
the assigned receivables, (ii)&nbsp;a non-utilization fee on the portion of the facilities not utilized by the European Factors and (iii)&nbsp;a factoring fee on all assigned receivables. In addition, the European Factoring Sellers incur the cost of
maintaining the necessary credit insurance (as stipulated in the European Factoring Agreements) on assigned receivables. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The European
Factoring Agreements contain certain affirmative and negative covenants, including relating to the administration and collection of the assigned receivables, the terms of the invoices and the exchange of information, but do not contain restrictive
financial covenants other than a group level minimum liquidity covenant that is tested quarterly. As of and for the fiscal quarter ended December&nbsp;31, 2014, the European Factoring Sellers were in compliance with all applicable covenants under
the European Factoring Agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">References to the Wise Acquisition refer to our January&nbsp;5, 2015 acquisition of Wise Metals
Intermediate Holdings LLC and its subsidiaries, which companies we refer to collectively as &#147;Wise.&#148; The transaction is therefore not included in the Group&#146;s consolidated financial statements as of December&nbsp;31, 2014. The
discussion in this report relates to a period prior to our acquisition of Wise and, except as otherwise noted, does not give effect to such acquisition. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Wise Senior Secured Notes </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
December&nbsp;11, 2013, Wise Metals Group LLC and Wise Alloys Finance Corporation issued $650 million in aggregate principal amount of 8.75% Senior Secured Notes due 2018 (the &#147;Wise Senior Secured Notes&#148;) pursuant to an indenture among
Wise Metals Group LLC and Wise Alloys Finance Corporation, the guarantors party thereto, and Wells Fargo Bank, National Association, as trustee and collateral agent. Wise used a portion of the proceeds from the offering of the Wise Senior Secured
Notes to repay all outstanding indebtedness under a $400 million term loan and a $70 million delayed draw term loan owed to the Employees&#146; Retirement System of Alabama and the Teachers&#146; Retirement System of Alabama (collectively, the
&#147;RSA&#148;) and to redeem all of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-108- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
outstanding cumulative-convertible 10% paid-in-kind preferred membership interests in Wise Metals Group LLC held by the RSA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest on the Wise Senior Secured Notes accrues at a rate of 8.75%&nbsp;per annum and is payable semi-annually in arrears on June&nbsp;15
and December&nbsp;15 of each year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Wise Senior Secured Notes are guaranteed by certain of Wise Metals Group LLC&#146;s existing and
future 100% owned domestic restricted subsidiaries. The Wise Senior Secured Notes and related guarantees are secured on a first-priority basis, subject to certain exceptions and permitted liens, by a lien on substantially all of the issuers&#146;
and guarantors&#146; existing and after-acquired material domestic real estate, equipment, stock of subsidiaries, intellectual property and substantially all of the issuers&#146; and guarantors&#146; other assets that do not secure the Wise ABL
Facility on a first-priority basis, other than the Specified Mill Assets Collateral (as defined below), which have been pledged to secure the Wise Senior Secured Notes and the related guarantees, as well as certain obligations to Rexam under the
Rexam Advance Agreement, on a first-priority, equal and ratable basis. The Wise Senior Secured Notes and related guarantees are secured on a second-priority basis by a lien on all of the issuers&#146; and guarantors&#146; domestic assets that
consist of ABL Priority Collateral (as defined below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to June&nbsp;15, 2016, the Wise Senior Secured Notes may be redeemed in
whole or in part at a redemption price equal to 100% of the principal amount of the Wise Senior Secured Notes redeemed plus an applicable make-whole premium and accrued and unpaid interest to, but not including, the redemption date. Prior to
June&nbsp;15, 2016, up to 35% of the aggregate principal amount of Wise Senior Secured Notes outstanding may be redeemed with the net proceeds of specified equity offerings at 108.750% of the principal amount of the Wise Senior Secured Notes to be
redeemed plus accrued and unpaid interest, if any, to the date of redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On or after June&nbsp;15, 2016, the Wise Senior Secured
Notes may be redeemed in whole or in part at redemption prices (expressed as percentages of principal amount) of 104.375% for the twelve-month period beginning on June&nbsp;15, 2016, 102.188% for the twelve-month period beginning on June&nbsp;15,
2017, and par on or after June&nbsp;15, 2018, in each case plus accrued and unpaid interest to the date of redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, upon
certain events constituting a &#147;Change of Control&#148; (as defined in the indenture governing the Wise Senior Secured Notes), the issuers of the Wise Senior Secured Notes must make an offer (a &#147;Senior Secured Notes Offer to Purchase&#148;)
to repurchase all outstanding Wise Senior Secured Notes at a purchase price equal to 101% of the aggregate principal amount of Wise Senior Secured Notes so repurchased, plus accrued and unpaid interest to the date of repurchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Wise Senior Secured Notes contain customary covenants including, among other things, limitations and restrictions on Wise&#146;s ability
to: Incur additional indebtedness; make dividend payments or other restricted payments; create liens; sell assets; sell securities of subsidiaries; agree to payment restrictions affecting Wise&#146;s restricted subsidiaries; designate subsidiaries
as unrestricted subsidiaries; enter into certain types of transactions with affiliates; and enter into mergers, consolidations or certain asset sales. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;10, 2014, Constellium, on behalf of the issuers of the Wise Senior Secured Notes, solicited consents from the holders of the
Wise Senior Secured Notes to certain amendments (the &#147;Proposed Amendments&#148;) to the indenture governing the Wise Senior Secured Notes. The Proposed Amendments provided that the Wise Acquisition would not constitute a &#147;Change of
Control.&#148; On October&nbsp;17, 2014, Constellium obtained the requisite consents to the Proposed Amendments and the issuers and guarantors of the Wise Senior Secured Notes and Wells Fargo Bank, National Association, as trustee and collateral
agent, entered into a supplemental indenture to the indenture governing the Wise Senior Secured Notes. Pursuant to the terms of the supplemental indenture, the Proposed Amendments became operative immediately prior to the effective time of the Wise
Acquisition. Accordingly, the issuers of the Wise Senior Secured Notes were not required to make a Senior Secured Notes Offer to Purchase in connection with the Wise Acquisition. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-109- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Wise Senior PIK Toggle Notes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On April&nbsp;16, 2014, Wise and Wise Holdings Finance Corporation issued $150 million in aggregate principal amount of 9.75% / 10.50% Senior
PIK Toggle Notes due 2019 (the &#147;Wise Senior PIK Toggle Notes&#148;, and together with the Wise Senior Secured Notes, the &#147;Wise Notes&#148;) pursuant to an indenture among Wise, Wise Holdings Finance Corporation, and Wilmington Trust,
National Association, as trustee. Wise used a portion of the proceeds from the offering of the Wise Senior PIK Toggle Notes to fund payments to the holders of equity interests in its parent company, Wise Metals Holdings LLC, that elected (i)&nbsp;to
have Wise Metals Holdings LLC repurchase their equity interests or (ii)&nbsp;to take a loan from Wise Metals Holdings LLC in proportion to such holders&#146; ownership in Wise Metals Holdings LLC. Wise used the remainder of such proceeds for general
corporate purposes, including the repayment of $22.5 million of outstanding indebtedness under the Wise ABL Facility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest on the
Wise Senior PIK Toggle Notes is payable semi-annually in arrears on June&nbsp;15 and December&nbsp;15 of each year. The issuers must pay the first and last interest payments on the Wise Senior PIK Toggle Notes in cash. For each other interest
period, the issuers are required to pay interest in cash unless certain conditions described in the indenture governing the Wise Senior PIK Toggle Notes are met, in which case the issuers may pay interest by increasing the principal amount of
outstanding notes or by issuing new notes as payment-in-kind interest (&#147;PIK Interest&#148;). Cash interest on the Wise Senior PIK Toggle Notes accrues at a rate of 9.75%&nbsp;per annum, and PIK Interest accrues at a rate of 10.50%&nbsp;per
annum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Wise Senior PIK Toggle Notes are senior unsecured obligations of the issuers and are not guaranteed by any of Wise&#146;s
subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Prior to June&nbsp;15, 2016, the Wise Senior PIK Toggle Notes may be redeemed in whole or in part at a redemption price
equal to 100% of the principal amount of the Wise Senior PIK Toggle Notes redeemed plus a make-whole premium and accrued and unpaid interest to, but not including, the redemption date. In addition, prior to June&nbsp;15, 2016, up to 35% of the
aggregate principal amount of the Wise Senior PIK Toggle Notes outstanding may be redeemed with the net proceeds of specified equity offerings at 109.750% of the principal amount of the Wise Senior PIK Toggle Notes to be redeemed plus accrued and
unpaid interest, if any, to the date of redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On or after June&nbsp;15, 2016, the Wise Senior PIK Toggle Notes may be redeemed in
whole or in part at redemption prices (expressed as percentages of principal amount) of 104.875% for the twelve-month period beginning on June&nbsp;15, 2016, 102.438% for the twelve-month period beginning on June&nbsp;15, 2017, and par on or after
June&nbsp;15, 2018, in each case plus accrued and unpaid interest to the date of redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, upon certain events
constituting a &#147;Change of Control&#148; (as defined in the indenture governing the Wise Senior PIK Toggle Notes), the issuers of the Wise Senior PIK Toggle Notes must offer to repurchase all outstanding Wise Senior PIK Toggle Notes at a
purchase price equal to 101% of the aggregate principal amount of Wise Senior PIK Toggle Notes so repurchased, plus accrued and unpaid interest to the date of repurchase (such offer, a &#147;PIK Notes Change of Control Offer&#148;). On
January&nbsp;7, 2015, in connection with the Wise Acquisition, Constellium made a PIK Notes Change of Control Offer, which expired on February&nbsp;6, 2015 with no Wise Senior PIK Toggle Notes having been tendered for repurchase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Wise Senior PIK Toggle Notes contain customary covenants including, among other things, limitations and restrictions on Wise&#146;s
ability to: Incur additional indebtedness; make dividend payments or other restricted payments; create liens; sell assets; sell securities of subsidiaries; agree to payment restrictions affecting certain subsidiaries; enter into certain types of
transactions with affiliates; and enter into mergers, consolidations or certain asset sales. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-110- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Wise ABL Facility </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December&nbsp;11, 2013, Wise Alloys LLC, as borrower, and Wise Metals Group LLC, Listerhill Total Maintenance Center, LLC (&#147;TMC&#148;),
Wise Alloys Finance Corporation, and Alabama Electric Motor Services, LLC (&#147;AEM&#148;), as guarantors, entered into a $320 million asset-based revolving credit facility (as amended, the &#147;Wise ABL Facility&#148;) with the lenders from time
to time party thereto and General Electric Capital Corporation as administrative agent (the &#147;Wise ABL Facility Agent&#148;). As described below, the Wise ABL Facility was subsequently amended in connection with the Wise Acquisition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Wise Alloys LLC has the option to increase the commitments under the Wise ABL Facility from time to time by up $100 million in the aggregate
for all such increases. Any increase of the commitments under the Wise ABL Facility is subject to the commitment of one or more lenders to such increased amount and the satisfaction of certain customary conditions, including the absence of any
default under the Wise ABL Facility and, to the extent otherwise required under the Wise ABL Facility at the time of the proposed increase, compliance with the financial covenant (as described below) on a pro forma basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Wise Alloys LLC&#146;s ability to borrow under the Wise ABL Facility is limited to a borrowing base equal to the sum of (a)&nbsp;85% of net
book value of Wise Alloys LLC&#146;s, AEM&#146;s, and TMC&#146;s eligible accounts receivable (other than any accounts receivable from certain foreign account debtors (&#147;Eligible Foreign Account Debtors&#148;) and other ineligible account
debtors (or 90% of the net book value of Wise Alloys LLC&#146;s, AEM&#146;s, and TMC&#146;s eligible accounts receivable from Coca-Cola), plus (b)&nbsp;the lesser of (i)&nbsp;85% of the net book value of Wise Alloys LLC&#146;s, AEM&#146;s, and
TMC&#146;s eligible accounts receivable from Eligible Foreign Account Debtors and (ii)&nbsp;$12.5 million, plus (c)&nbsp;the lesser of (i)&nbsp;75% of the value of Wise Alloys LLC&#146;s eligible raw materials, work-in-progress and finished goods
inventory and (ii)&nbsp;85% of the net orderly liquidation value of Wise Alloys LLC&#146;s eligible raw materials, work-in-progress and finished goods inventory, plus (d)&nbsp;the lesser of (i)&nbsp;5% of the value of Wise Alloys LLC&#146;s eligible
raw materials, work-in-progress and finished goods inventory and (ii)&nbsp;5% of the net orderly liquidation value of Wise Alloys LLC&#146;s eligible raw materials, work-in-process and finished goods inventory; provided that, in the case of each of
clause (i)&nbsp;and (ii), such amount shall not exceed $10 million, minus (e)&nbsp;the excess, if any, of the aggregate amount of TMC&#146;s and AEM&#146;s eligible accounts receivable included in the borrowing base pursuant to the foregoing clause
(a)&nbsp;over $1.5 million (which may, at the Wise ABL Facility Agent&#146;s sole discretion after completion of a collateral audit, be increased to an amount not to exceed $5 million) minus (f)&nbsp;the aggregate amount of reserves, if any,
established by the Wise ABL Facility Agent. Wise Alloys LLC&#146;s ability to borrow under the Wise ABL Facility is also subject to other conditions and limitations. As of December&nbsp;31, 2014, there was $94 million available for borrowings under
the Wise ABL Facility (as in effect as of that date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest rates under the Wise ABL Facility are based, at Wise Alloys LLC&#146;s
election, on either the LIBOR rate or a base rate, plus a spread that ranges from 1.75% to 2.25% for LIBOR loans and 0.75% to 1.25% for base rate loans. The spread is determined on the basis of a pricing grid that results in a higher spread as Wise
Alloys LLC&#146;s average quarterly borrowing availability under the Wise ABL Facility declines, and, in each case, are based upon the borrowing base calculation delivered to the Wise ABL Facility Agent for the last calendar month (or, in certain
instances, week) of the immediately preceding fiscal quarter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Letters of credit under the Wise ABL Facility are subject to a fee payable
to the lenders equal to the current margin applicable to LIBOR loans multiplied by the daily balance of the undrawn amount of all outstanding letters of credit, payable in cash monthly in arrears. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unused commitments under the Wise ABL Facility are subject to an unused commitment fee equal to the aggregate amount of such unused
commitments multiplied by a rate equal to 0.375%&nbsp;per annum, payable in cash monthly in arrears, of the average available but unused borrowing capacity under the Wise ABL Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to customary &#147;breakage&#148; costs with respect to LIBOR loans, borrowings under the Wise ABL Facility may be repaid from time to
time without premium or penalty. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-111- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The obligations of Wise Alloys LLC under the Wise ABL Facility are secured by (i)&nbsp;a first
priority (subject to certain specified permitted liens), perfected security interest in all of Wise Alloys LLC and the guarantors&#146; (other than Constellium Holdco II B.V.) present and future assets and properties consisting of ABL Priority
Collateral, (ii)&nbsp;a second priority (subordinate only to the security interest and liens under the Wise Senior Secured Notes and subject to certain specified permitted liens), perfected security interest in all of Wise Alloys LLC and the
guarantors&#146; (other than Constellium Holdco II B.V.) present and future assets and properties, other than ABL Priority Collateral and the Specified Mill Assets Collateral, and (iii)&nbsp;a second priority (subordinate only to the security
interest under the Wise Senior Secured Notes and the Rexam Advance Agreement and subject to certain specified permitted liens), perfected security interest in all of Wise Alloys LLC and the guarantors&#146; present and future assets and properties
consisting of Specified Mill Assets Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;ABL Priority Collateral&#148; consists of (i)&nbsp;accounts and payment
intangibles, (ii)&nbsp;inventory, (iii)&nbsp;deposit accounts and securities accounts, including all monies, uncertificated securities and other funds held in or on deposit therein (including all cash, marketable securities and other funds held in
or on deposit in either of the foregoing), (iv)&nbsp;all investment property, equipment, general intangibles, books and records pertaining to the ABL Priority Collateral, documents, instruments, chattel paper, letter-of-credit rights, supporting
obligations related to the foregoing, business interruption insurance, commercial tort claims, and (v)&nbsp;all proceeds of the foregoing, in each case subject to certain exceptions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;Specified Mill Assets Collateral&#148; consists of the equipment and fixtures of Wise Alloys LLC and the guarantors constituting the
three-stand mill located in Muscle Shoals, Alabama which are being financed pursuant to the Rexam Advance Agreement and related assets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Wise ABL Facility contains customary terms and conditions, including, among other things, negative covenants limiting Wise Alloys LLC, the
guarantors, and their respective restricted subsidiaries&#146; ability to incur debt, grant liens, make investments, loans and advances, make acquisitions, sell assets, pay dividends and other restricted payments, prepay certain debt, merge,
consolidate or amalgamate and engage in affiliate transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Wise ABL Facility provides that if borrowing availability thereunder
drops below a threshold amount equal to the greater of (a)&nbsp;10% of the aggregate commitments under the Wise ABL Facility and (b)&nbsp;$20 million, Wise Alloys LLC will be required to maintain a minimum fixed charge coverage ratio of 1.0 to 1.0,
calculated on a trailing twelve month basis until such time as borrowing availability has been at least equal to the greater of $20 million and 10% of the aggregate commitments under the Wise ABL Facility for thirty consecutive days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Wise ABL Facility also contains customary events of default, including an event of default triggered by certain changes of control. The
Wise Acquisition constituted such a change of control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the Wise Acquisition, we amended the Wise ABL Facility to,
among other things, (i)&nbsp;provide that the consummation of the Wise Acquisition does not constitute an event of default, (ii)&nbsp;remove from the collateral securing the Wise ABL Facility the receivables of a single obligor that will be sold
under the RPA (as defined below), (iii)&nbsp;permit transactions between Wise and its subsidiaries on the one hand and Constellium and its subsidiaries on the other, subject to certain conditions, and (iv)&nbsp;on the effective date of the RPA (as
defined below), reduce the size of the facility to $200 million. As amended, the Wise ABL Facility also provides for Constellium Holdco II B.V. to guarantee the obligations thereunder. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Receivables Purchase Agreement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
March&nbsp;23, 2015, Wise Alloys LLC entered into a Receivables Purchase Agreement (the &#147;RPA&#148;) with Wise Alloys Funding LLC (the &#147;Seller&#148;) and HSBC Bank USA, National Association (the &#147;Purchaser&#148;), providing for the
sale of certain receivables of Wise Alloys LLC to the Purchaser in an amount not to exceed $100 million in the aggregate outstanding at any time. Receivables under the agreement will be sold at a discount based on a rate equal to a LIBOR rate plus
0.80-3.50% (based on the credit rating of the account debtor) per </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-112- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
annum. Wise Alloys Funding LLC is also required to pay the Purchaser a commitment fee on the unused portion of the commitments under the RPA of 0.40-1.75% (based on the credit rating of the
account debtor) per annum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to certain customary exceptions, each purchase under the RPA is made without recourse to the Seller,
and the Seller has no liability to the Purchaser and the Purchaser is solely responsible for the account debtor&#146;s failure to pay any purchased receivable when it is due and payable under the terms applicable thereto. Constellium Holdco II B.V.
has provided a guaranty for the Seller&#146;s obligations under the RPA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The RPA contains customary covenants and termination events,
including a termination event triggered by certain changes of control. The RPA is expected to terminate on March&nbsp;23, 2016, unless it is otherwise extended prior to such time. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Metal Supply Agreements </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection
with the Acquisition, Constellium Switzerland, a wholly owned indirect subsidiary of Constellium N.V., entered into certain agreements dated as of January&nbsp;4, 2011 with Rio Tinto Alcan Inc. (&#147;Rio Tinto Alcan&#148;), Aluminium Pechiney and
Alcan Holdings Switzerland AG (&#147;AHS&#148;), each of which is an affiliate of Rio Tinto, which provide for, among other things, the supply of metal by Rio Tinto affiliates to Constellium Switzerland, the provision of certain technical assistance
and other services relating to aluminium-lithium, a covenant by Rio Tinto Alcan to refrain from producing, supplying or selling aluminium-lithium alloys to third parties and certain cost reimbursement obligations of AHS. Constellium has provided a
guarantee to Rio Tinto Alcan and Aluminium Pechiney in respect of Constellium Switzerland&#146;s obligations under the supply agreements. Constellium Switzerland and Rio Tinto Alcan have a multi-year supply agreement for the supply of sheet ingot.
The agreement provides for certain representations and warranties, audit and inspection rights, on-time shipment requirements and other customary terms and conditions. Each party is required to pay certain penalty or reimbursement amounts in the
event it fails or is unable to purchase or supply, as applicable, specified minimum annual quantities of metal. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>D. Exchange Controls
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">There are no limits under the laws of the Netherlands or in our Amended and Restated Articles of Association on non-residents of the
Netherlands holding or voting our ordinary shares. Currently, there are no exchange controls under the laws of the Netherlands on the conduct of our operations or affecting the remittance of dividends. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">French exchange control regulations currently do not limit the amount of payments that we may remit to non-residents of France, subject to any
restrictions that may be applicable by reason of embargos or similar measures in force with respect to certain countries and/or persons. Laws and regulations concerning foreign exchange controls do require, however, that all payments or transfers of
funds made by a French resident to a non-resident be handled by an accredited intermediary. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>E. Taxation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Material U.S. Federal Income Tax Consequences </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following discussion describes the material U.S. federal income tax consequences relating to acquiring, owning and disposing of our
ordinary shares by a U.S. Holder (as defined below) and will hold the ordinary shares as &#147;capital assets&#148; (generally, property held for investment) under the U.S. Internal Revenue Code of 1986, as amended (the &#147;Code&#148;). This
discussion is based upon existing U.S. federal income tax law, including the Code, U.S. Treasury regulations thereunder, rulings and court decisions, all of which are subject to differing interpretations or change, possibly with retroactive effect.
No ruling from the Internal Revenue Service (the &#147;IRS&#148;) has been sought with respect to any U.S. federal income tax consequences described below, and there can be no assurance that the IRS or a court will not take a contrary position. </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-113- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This discussion does not address all aspects of U.S. federal income taxation that may be relevant
to particular investors in light of their individual circumstances, including investors subject to special tax rules (for example, financial institutions, insurance companies, regulated investment companies, real estate investment trusts,
broker-dealers, traders in securities that elect mark-to-market treatment, partnerships or other pass-through entities for U.S. federal income tax purposes and their partners and investors, tax-exempt organizations (including private foundations),
investors who are not U.S. Holders, U.S. Holders who own (directly, indirectly or constructively) 10% or more of our stock (by vote or value), U.S. Holders that acquire their ordinary shares pursuant to any employee share option or otherwise as
compensation, U.S. Holders that will hold their ordinary shares as part of a straddle, hedge, conversion, wash sale, constructive sale or other integrated transaction for U.S. federal income tax purposes or U.S. Holders that have a functional
currency other than the U.S. dollar, all of whom may be subject to tax rules that differ significantly from those summarized below). In addition, this discussion does not discuss any U.S. federal estate, gift or alternative minimum tax consequences,
any tax consequences of the Medicare tax on certain investment income pursuant to the Health Care and Education Reconciliation Act of 2010, or any non-U.S. tax consequences. Each U.S. Holder is urged to consult its tax advisor regarding the U.S.
federal, state, local and non-U.S. income and other tax considerations of an investment in our ordinary shares. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>General </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of this discussion, a &#147;U.S. Holder&#148; is a beneficial owner of our ordinary shares that is, for U.S. federal income tax
purposes, (i)&nbsp;an individual who is a citizen or resident of the United States, (ii)&nbsp;a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) created in, or organized under the law of, the United States
or any state thereof or the District of Columbia, (iii)&nbsp;an estate the income of which is includible in gross income for U.S. federal income tax purposes regardless of its source, or (iv)&nbsp;a trust (A)&nbsp;the administration of which is
subject to the primary supervision of a U.S. court and which has one or more U.S. persons who have the authority to control all substantial decisions of the trust or (B)&nbsp;that has otherwise validly elected to be treated as a U.S. person under
the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If a partnership (or other pass-through entity for U.S. federal income tax purposes) is a beneficial owner of our ordinary
shares, the tax treatment of a partner in the partnership will generally depend upon the status of the partner, the activities of the partnership and certain determinations made at the partner level. Partnerships holding our ordinary shares, and
partners in such partnerships, are urged to consult their own tax advisors regarding their investment in our ordinary shares. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Passive
Foreign Investment Company Consequences </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We believe that we will not be a &#147;passive foreign investment company&#148; for U.S.
federal income tax purposes (&#147;PFIC&#148;) for the current taxable year and that we have not been a PFIC for prior taxable years and we expect that we will not become a PFIC in the foreseeable future, although there can be no assurance in this
regard. A foreign corporation will be a PFIC in any taxable year in which, after taking into account the income and assets of the corporation and certain subsidiaries pursuant to applicable &#147;look-through rules,&#148; either (i)&nbsp;at least
75% of its gross income is &#147;passive income,&#148; or (ii)&nbsp;at least 50% of its assets produce or are held for the production of &#147;passive income.&#148; For this purpose, &#147;passive income&#148; generally includes dividends, interest,
royalties and rents and certain other categories of income, subject to certain exceptions. The determination of whether we are a PFIC is a fact-intensive determination that includes ascertaining the fair market value (or, in certain circumstances,
tax basis) of all of our assets on a quarterly basis and the character of each item of income we earn. This determination is made annually and cannot be completed until the close of a taxable year. It depends upon the portion of our assets
(including goodwill) and income characterized as passive under the PFIC rules, as described above. Accordingly, it is possible that we may become a PFIC due to changes in our income or asset composition or a decline in the market value of our
equity. Because PFIC status is a fact-intensive determination, no assurance can be given that we are not, have not been, or will not become, classified as a PFIC. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-114- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If we are a PFIC for any taxable year, U.S. Holders generally will be subject to special tax
rules that could result in materially adverse U.S. federal income tax consequences. In such event, a U.S. Holder may be subject to U.S. federal income tax at the highest applicable ordinary income tax rates on (i)&nbsp;any &#147;excess
distribution&#148; that we make to the U.S. Holder (which generally means any distribution paid during a taxable year to a U.S. Holder that is greater than 125% of the average annual distributions paid in the three preceding taxable years or, if
shorter, the U.S. Holder&#146;s holding period for the ordinary shares), or (ii)&nbsp;any gain realized on the disposition of our ordinary shares. In addition, a U.S. Holder may be subject to an interest charge on such tax. Furthermore, the
favorable dividend tax rates that may apply to certain U.S. Holders on our dividends will not apply if we are a PFIC during the taxable year in which such dividend was paid, or the preceding taxable year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As an alternative to the foregoing rules, a U.S. Holder may make a mark-to-market election with respect to our ordinary shares, provided that
the ordinary shares are regularly traded. Although no assurances may be given, we expect that our ordinary shares should qualify as being regularly traded. If a U.S. Holder makes a valid mark-to-market election, the U.S. Holder will generally
(i)&nbsp;include as ordinary income for each taxable year that we are a PFIC the excess, if any, of the fair market value of our ordinary shares held at the end of the taxable year over the adjusted tax basis of such ordinary shares and
(ii)&nbsp;deduct as an ordinary loss the excess, if any, of the adjusted tax basis of the ordinary shares over the fair market value of such ordinary shares held at the end of the taxable year, but only to the extent of the net amount previously
included in income as a result of the mark-to-market election. The U.S. Holder&#146;s tax basis in the ordinary shares would be adjusted to reflect any income or loss resulting from the mark-to-market election. Gain on the sale or other disposition
of our ordinary shares would be treated as ordinary income, and loss on the sale or other disposition of our ordinary shares would be treated as an ordinary loss, but only to the extent of the amount previously included in income as a result of the
mark-to-market election. If a U.S. Holder makes a mark-to-market election in respect of a corporation classified as a PFIC and such corporation ceases to be classified as a PFIC, the holder will not be required to take into account the gain or loss
described above during any period that such corporation is not classified as a PFIC. Because a mark-to-market election cannot be made for any lower-tier PFICs that we may own, a U.S. Holder may continue to be subject to the PFIC rules with respect
to such U.S. Holder&#146;s indirect interest in any investment held by us that is treated as an equity interest in a PFIC for U.S. federal income tax purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to certain limitations, a U.S. Holder may make a &#147;qualified electing fund&#148; election (&#147;QEF election&#148;), which serves
as a further alternative to the foregoing rules, with respect to its investment in a PFIC in which the U.S. Holder owns shares (directly or indirectly) of the PFIC. In order for a U.S. Holder to be able to make a QEF election, we must provide such
U.S. Holders with certain information. Because we do not intend to provide U.S. Holders with the information needed to make such an election, prospective investors should assume that the QEF election will not be available. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each U.S. Holder is advised to consult its tax advisor concerning the U.S. federal income tax consequences of acquiring, owning or disposing
of our ordinary shares if we are or become classified as a PFIC, including the possibility of making a mark-to-market election. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
remainder of the discussion below assumes that we are not a PFIC, have not been a PFIC and will not become a PFIC in the future. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Distributions
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The gross amount of distributions with respect to our ordinary shares (including the amount of any non-U.S. withholding taxes)
will be taxable as dividends, to the extent paid out of our current or accumulated earnings and profits, as determined under U.S. federal income tax principles. Such distributions will be includable in a U.S. Holder&#146;s gross income as ordinary
dividend income on the day actually or constructively received by the U.S. Holder. Such dividends will not be eligible for the dividends-received deduction allowed to corporations under the Code. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-115- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">To the extent that the amount of the distribution exceeds our current and accumulated earnings
and profits for a taxable year, as determined under U.S. federal income tax principles, the distribution will be treated first as a tax-free return of a U.S. Holder&#146;s tax basis in our ordinary shares, and to the extent the amount of the
distribution exceeds the U.S. Holder&#146;s tax basis, the excess will be taxed as capital gain recognized on a sale or exchange. Because we do not expect to determine our earnings and profits in accordance with U.S. federal income tax principles,
U.S. Holders should expect that a distribution will generally be reported as a dividend for U.S. federal income tax purposes, even if that distribution would otherwise be treated as a tax-free return of capital or as capital gain under the rules
described above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">With respect to non-corporate U.S. Holders, certain dividends received from a qualified foreign corporation may be
subject to reduced rates of U.S. federal income taxation. A non-U.S. corporation is treated as a qualified foreign corporation with respect to dividends paid by that corporation on shares that are readily tradable on an established securities market
in the United States. We believe our ordinary shares, which are listed on the NYSE, are considered to be readily tradable on an established securities market in the United States, although there can be no assurance that this will continue to be the
case in the future. Non-corporate U.S. Holders that do not meet a minimum holding period requirement during which they are not protected from the risk of loss, or that elect to treat the dividend income as &#147;investment income&#148; pursuant to
Section&nbsp;163(d)(4) of the Code, will not be eligible for the reduced rates of taxation regardless of our status as a qualified foreign corporation. In addition, even if the minimum holding period requirement has been met, the rate reduction will
not apply to dividends if the recipient of a dividend is obligated to make related payments with respect to positions in substantially similar or related property. You should consult your own tax advisors regarding the application of these rules
given your particular circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the event that a U.S. Holder is subject to non-U.S. withholding taxes on dividends paid to such
U.S. Holder with respect to our ordinary shares, such U.S. Holder may be eligible, subject to certain conditions and limitations, to claim a foreign tax credit for such non-U.S. withholding taxes against the U.S. Holder&#146;s U.S. federal income
tax liability or otherwise deduct such non-U.S. withholding taxes in computing such U.S. Holder&#146;s U.S. federal income tax liability. Dividends paid to a U.S. Holder with respect to our ordinary shares are expected to constitute &#147;foreign
source income&#148; and to be treated as &#147;passive category income&#148; or, in the case of some U.S. Holders, &#147;general category income,&#148; for purposes of the foreign tax credit. The rules governing the foreign tax credit and ability to
deduct such non-U.S. withholding taxes are complex and involve the application of rules that depend upon your particular circumstances. You are urged to consult your own tax advisors regarding the availability of the foreign tax credit or deduction
under your particular circumstances. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Sale, Exchange or Other Disposition </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For U.S. federal income tax purposes, a U.S. Holder generally will recognize taxable gain or loss on any sale, exchange or other taxable
disposition of our ordinary shares in an amount equal to the difference between the amount realized for our ordinary shares and the U.S. Holder&#146;s tax basis in such ordinary shares. Such gain or loss will generally be capital gain or loss.
Capital gains of individuals derived with respect to capital assets held for more than one year generally are eligible for reduced rates of U.S. federal income taxation. The deductibility of capital losses is subject to limitations. Any gain or loss
recognized by a U.S. Holder will generally be treated as U.S. source gain or loss. You are urged to consult your tax advisors regarding the tax consequences if a non-U.S. tax is imposed on a sale, exchange or other disposition of our ordinary
shares, including the availability of the foreign tax credit or deduction under your particular circumstances. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Information Reporting and Backup
Withholding </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to recently enacted legislation, a U.S. Holder with interests in &#147;specified foreign financial
assets&#148; (including, among other assets, our ordinary shares, unless such shares were held on such U.S. Holder&#146;s behalf through a financial institution) may be required to file an information report with the IRS if the aggregate value of
all such assets exceeds $50,000 on the last day of the taxable year or $75,000 at any time during the taxable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-116- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
year (or such higher dollar amount as may be prescribed by applicable IRS guidance). You should consult your own tax advisor as to the possible obligation to file such information reports in
light of your particular circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Moreover, information reporting generally will apply to dividends in respect of our ordinary
shares and the proceeds from the sale, exchange or other disposition of our ordinary shares that are paid to a U.S. Holder within the United States (and in certain cases, outside the United States), unless the U.S. Holder is an exempt recipient.
Backup withholding (currently at a rate of 28%) may also apply to such payments if the U.S. Holder fails to provide an appropriate certification with such U.S. Holder&#146;s taxpayer identification number or certification of exempt status. Backup
withholding is not an additional tax. Any amounts withheld under the backup withholding rules generally will be allowed as a refund or a credit against a U.S. Holder&#146;s U.S. federal income tax liability provided the required information is
timely furnished to the IRS. You should consult your tax advisors regarding the application of the U.S. information reporting and backup withholding rules to your particular circumstances. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>US Foreign Account Tax Compliance Act </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Provisions under the Code and Treasury regulations thereunder, commonly referred to as &#147;FATCA,&#148; may impose 30% withholding on certain
payments made by a &#147;foreign financial institution&#148; (as defined in the Code) that has entered into an agreement with the Internal Revenue Service to perform certain diligence and reporting obligations with respect to the foreign financial
institution&#146;s accounts (each such foreign financial institution, a &#147;Participating Foreign Financial Institution&#148;). If we were treated as a foreign financial institution and if we become a Participating Foreign Financial Institution,
such withholding may be imposed on payments on our ordinary shares (to the extent such payments are considered &#147;foreign passthru payments&#148;) to any foreign financial institution (including an intermediary through which a holder may hold
ordinary shares) that is not a Participating Foreign Financial Institution or any other investor who does not provide information sufficient to establish that the investor is not subject to withholding under FATCA, unless such foreign financial
institution or investor is otherwise exempt from FATCA. The term &#147;foreign passthru payment&#148; is not yet defined and it is therefore not clear whether or to what extent payments on our ordinary shares would be considered foreign passthru
payments. Withholding on foreign passthru payments would not be required with respect to payments made before January&nbsp;1, 2017. You should consult your tax advisor regarding the potential impact of FATCA, or any intergovernmental agreement or
non-US legislation implementing FATCA, on your investment in our ordinary shares. FATCA IS PARTICULARLY COMPLEX AND ITS APPLICATION TO US, OUR ORDINARY SHARES AND HOLDERS OF OUR SHARES IS SUBJECT TO CHANGE. EACH HOLDER OF OUR SHARES SHOULD CONSULT
ITS OWN TAX ADVISOR TO OBTAIN A MORE DETAILED EXPLANATION OF FATCA AND TO LEARN HOW FATCA MIGHT AFFECT EACH HOLDER IN ITS PARTICULAR CIRCUMSTANCE. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Material Dutch Tax Consequences </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>General
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information set out below is a summary of certain material Dutch tax consequences in connection with the acquisition,
ownership and transfer of our ordinary shares. This summary does not purport to be a comprehensive description of all the Dutch tax considerations that may be relevant to a particular holder of our ordinary shares. Such holders may be subject to
special tax treatment under any applicable law and this summary is not intended to be applicable in respect of all categories of holders of our ordinary shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This summary is based on the tax laws of the Netherlands as in effect on January&nbsp;1, 2015, as well as regulations, rulings and decisions
of the Netherlands or of its taxing and other authorities available on or before such date and now in effect, and as applied and interpreted by Netherlands courts, without prejudice to any amendments introduced at a later date and implemented with
or without retroactive effect. All of the foregoing is subject to change, which change could apply retroactively and could affect the continued validity of this summary. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-117- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Because it is a general summary, prospective holders of our ordinary shares should consult their own tax advisors
as to the Dutch or other tax consequences of the acquisition, holding and transfer of the ordinary shares including, in particular, the application to their particular situations of the tax considerations discussed below, as well as the application
of foreign or other tax laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This summary does not describe any tax consequences arising under the laws of any taxing jurisdiction other
than the Netherlands in connection with the acquisition, ownership and transfer of our ordinary shares. The Netherlands means the part of the Kingdom of the Netherlands located in Europe. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any reference hereafter made to a treaty for the avoidance of double taxation concluded by the Netherlands, includes the Tax Arrangement for
the Kingdom of the Netherlands (Belastingregeling voor het Koninkrijk) and the Tax Arrangement for the country of the Netherlands (Belastingregeling voor het land Nederland). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Dividend Withholding Tax </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Dividends paid on our ordinary shares to a holder of ordinary shares are generally subject to withholding tax of 15% imposed by the
Netherlands. Generally, the dividend withholding tax will not be borne by us, but we will withhold from the gross dividends paid on our ordinary shares. The term &#147;dividends&#148; for this purpose includes, but is not limited to: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">distributions in cash or in kind, deemed and constructive distributions and repayments of paid-in capital not recognized for Dutch dividend withholding tax purposes; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">liquidation proceeds, proceeds of redemption of shares or, generally, consideration for the repurchase of shares in excess of the average paid-in capital recognized for Dutch dividend withholding tax purposes;
</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">the nominal value of shares issued to a shareholder or an increase of the nominal value of shares, as the case may be, to the extent that it does not appear that a contribution to the capital recognized for Dutch
dividend withholding tax purposes was made or will be made; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">partial repayment of paid-in capital, recognized for Dutch dividend withholding tax purposes, if and to the extent that there are net profits (zuivere winst), within the meaning of the Dutch Dividend Withholding Tax Act
1965 <I>(Wet op de dividendbelasting 1965</I>)<I></I>, unless the general meeting of shareholders has resolved in advance to make such a repayment and provided that the nominal value of the shares concerned has been reduced by a corresponding amount
by way of an amendment of our Amended and Restated Articles of Association. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A holder of our ordinary shares who is, or who
is deemed to be, a resident of the Netherlands can generally credit the withholding tax against his Dutch income tax or Dutch corporate income tax liability and is generally entitled to a refund of dividend withholding taxes exceeding his aggregate
Dutch income tax or Dutch corporate income tax liability, provided certain conditions are met, unless such holder of our ordinary shares is not considered to be the beneficial owner of the dividends. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A holder of our ordinary shares who is the recipient of dividends (the &#147;Recipient&#148;) will not be considered the beneficial owner of
the dividends for this purpose if: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">as a consequence of a combination of transactions, a person other than the Recipient wholly or partly benefits from the dividends; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">whereby such other person retains, directly or indirectly, an interest similar to that in the ordinary shares on which the dividends were paid; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">that other person is entitled to a credit, reduction or refund of dividend withholding tax that is less than that of the Recipient (&#147;Dividend Stripping&#148;). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-118- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">With respect to a holder of our ordinary shares, who is not and is not deemed to be a resident of
the Netherlands for purposes of Dutch taxation and who is considered to be a resident of a country other than the Netherlands under the provisions of a double taxation convention the Netherlands has concluded with such country, the following may
apply. Such holder of our ordinary shares may, depending on the terms of and subject to compliance with the procedures for claiming benefits under such double taxation convention, be eligible for a full or partial exemption from or a reduction or
refund of Dutch dividend withholding tax. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, an exemption from Dutch dividend withholding tax will generally apply to dividends
distributed to certain qualifying entities, provided that the following tests are satisfied: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">the entity is a resident of another EU member state or of a designated state that is a party to the Agreement on the European Economic Area (currently Iceland, Norway and Liechtenstein), according to the tax laws of
such state; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the entity at the time of the distribution has an interest in us to which the participation exemption as meant in article 13 of the Dutch Corporate Income Tax Act 1969 (<I>Wet op de vennootschapsbelasting 1969</I>) or
to which the participation credit as meant in article 13aa of the Dutch Corporate Income Tax Act 1969 would have been applicable, had such entity been a tax resident of the Netherlands; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">the entity does not perform a similar function as an exempt investment institution (<I>vrijgestelde beleggingsinstelling</I>) or fiscal investment institution (<I>fiscale beleggingsinstelling</I>), as defined in the
Dutch Corporate Income Tax Act 1969; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">the entity is, in its state of residence, not considered to be resident outside the EU member states or the designated states that are party to the Agreement on the European Economic Area under the terms of a double
taxation convention concluded with a third state. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The exemption from Dutch dividend withholding tax is not available if
pursuant to a provision for the prevention of fraud or abuse included in a double taxation treaty between the Netherlands and the country of residence of the non-resident holder of our ordinary shares, such holder would not be entitled to the
reduction of tax on dividends provided for by such treaty. Furthermore, the exemption from Dutch dividend withholding tax will only be available to the beneficial owner of the dividend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Furthermore, certain entities that are resident in another EU member state or in a designated state that is a party to the Agreement on the
European Economic Area (currently Iceland, Norway and Liechtenstein) and that are not subject to taxation levied by reference to profits in their state of residence, may be entitled to a refund of Dutch dividend withholding tax, provided: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">such entity, had it been a resident in the Netherlands, would not be subject to corporate income tax in the Netherlands; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">such entity can be considered to be the beneficial owner of the dividends; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">such entity does not perform a similar function to that of a fiscal investment institution (<I>fiscale beleggingsinstelling</I>) or an exempt investment institution (<I>vrijgestelde beleggingsinstelling</I>) as defined
in the Dutch Corporate Income Tax Act 1969; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">certain administrative conditions are met. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Dividend distributions to a U.S. holder of our
ordinary shares (with an interest of less than 10% of the voting rights in us) are subject to 15% dividend withholding tax, which is equal to the rate such U.S. holder may be entitled to under the Convention Between the Kingdom of the Netherlands
and the United States for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income, executed in Washington on December&nbsp;18, 1992, as amended from time to time (the &#147;Netherlands-U.S.
Convention&#148;). As such, there is no need to claim a refund of the excess of the amount withheld over the tax treaty rate. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-119- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On the basis of article 35 of the Netherlands-U.S. Convention, qualifying U.S. pension trusts are
under certain conditions entitled to a full exemption from Dutch dividend withholding tax. Such qualifying exempt U.S. pension trusts must provide us form IB 96 USA, along with a valid certificate, for the application of relief at source from
dividend withholding tax. If we receive the required documentation prior to the relevant dividend payment date, then we may apply such relief at source. If a qualifying exempt U.S. pension trust fails to satisfy these requirements prior to the
payment of a dividend, then such qualifying exempt pension trust may claim a refund of Dutch withholding tax by filing form IB 96 USA with the Dutch tax authorities. On the basis of article 36 of the Netherlands-U.S. Convention, qualifying exempt
U.S. organizations are under certain conditions entitled to a full exemption from Dutch dividend withholding tax. Such qualifying exempt U.S. organizations are not entitled to claim relief at source, and instead must claim a refund of Dutch
withholding tax by filing form IB 95 USA with the Dutch tax authorities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The concept of Dividend Stripping, described above, may also be
applied to determine whether a holder of our ordinary shares may be eligible for a full or partial exemption from, reduction or refund of Dutch dividend withholding tax, as described in the preceding paragraphs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In general, we will be required to remit all amounts withheld as Dutch dividend withholding tax to the Dutch tax authorities. However, in
connection with distributions received by us from our foreign subsidiaries, we are allowed, subject to certain conditions, to reduce the amount to be remitted to Dutch tax authorities by the lesser of: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">3% of the portion of the distribution paid by us that is subject to Dutch dividend withholding tax; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">3% of the dividends and profit distributions, before deduction of non-Dutch withholding taxes, received by us from qualifying foreign subsidiaries in the current calendar year (up to the date of the distribution by us)
and the two preceding calendar years, insofar as such dividends and profit distributions have not yet been taken into account for purposes of establishing the above-mentioned deductions. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of determining the 3% threshold under (i)&nbsp;above, a distribution by us is not taken into account in case the Dutch dividend
withholding tax withheld in respect thereof may be fully refunded, unless the recipient of such distribution is a qualifying entity that is not subject to corporate income tax. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Although this reduction reduces the amount of Dutch dividend withholding tax that we are required to pay to Dutch tax authorities, it does not
reduce the amount of tax that we are required to withhold from dividends. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Tax on Income and Capital Gains </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>General </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The description
of taxation set out in this section of this Annual Report is not intended for any holder of our ordinary shares, who: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">is an individual and for whom the income or capital gains derived from the ordinary shares are attributable to employment activities the income from which is taxable in the Netherlands; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">is an entity that is a resident or deemed to be a resident of the Netherlands and that is, in whole or in part, not subject to or exempt from Netherlands corporate income tax; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">is an entity that has an interest in us to which the participation exemption (deelnemingsvrijstelling) or the participation credit (<I>deelnemingsverrekening</I>) is applicable as set out in the Dutch Corporate Income
Tax Act 1969; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iv)</TD>
<TD ALIGN="left" VALIGN="top">is a fiscal investment institution (<I>fiscale beleggingsinstelling</I>) or an exempt investment institution (<I>vrijgestelde beleggingsinstelling</I>) as defined in the Netherlands Corporate Income Tax Act 1969; or
</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-120- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(v)</TD>
<TD ALIGN="left" VALIGN="top">has a substantial interest <I>(aanmerkelijk belang</I>)<I></I> or a deemed substantial interest as defined in the Netherlands Income Tax Act 2001 <I>(Wet inkomstenbelasting 2001</I>)<I></I> in us. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Generally a holder of our ordinary shares will have a substantial interest in us in the meaning of paragraph (v)&nbsp;above if he holds, alone
or together with his partner (statutorily defined term), whether directly or indirectly, the ownership of, or certain other rights over shares representing 5% or more of our total issued and outstanding capital (or the issued and outstanding capital
of any class of our shares), or rights to acquire shares, whether or not already issued, which represent at any time 5% or more of our total issued and outstanding capital (or the issued and outstanding capital of any class of our shares) or the
ownership of certain profit participating certificates that relate to 5% or more of the annual profit and/or to 5% or more of the liquidation proceeds of us. A holder of our ordinary shares will also have a substantial interest in us if one of
certain relatives of that holder or of his partner (a statutory defined term) has a substantial interest in us. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If a holder of our
ordinary shares does not have a substantial interest, a deemed substantial interest will be present if (part of) a substantial interest has been disposed of, or is deemed to have been disposed of, without recognizing taxable gain. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Residents of the Netherlands </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Individuals </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An individual
who is resident or deemed to be resident in the Netherlands, or who opts to be taxed as a resident of the Netherlands for purposes of Dutch taxation (a &#147;Dutch Resident Individual&#148;) will be subject to Netherlands income tax on income and/or
capital gains derived from our ordinary shares at the progressive rate (up to 52%; rate for 2014) if: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">the holder derives profits from an enterprise or deemed enterprise, whether as an entrepreneur (ondernemer) or pursuant to a co-entitlement to the net worth of such enterprise (other than as an entrepreneur or a
shareholder), to which enterprise the ordinary shares are attributable; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">the holder derives income or capital gains from the ordinary shares that are taxable as benefits from &#147;miscellaneous activities&#148; (resultaat uit overige werkzaamheden, as defined in the Netherlands Income Tax
Act 2001), which include the performance of activities with respect to the ordinary shares that exceed regular, active portfolio management (normaal, actief vermogensbeheer). </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If conditions (i)&nbsp;and (ii)&nbsp;above do not apply, any holder of our ordinary shares who is a Dutch Resident Individual will be subject
to Netherlands income tax on a deemed return regardless of the actual income and/or capital gains derived from our ordinary shares. This deemed return has been fixed at a rate of 4% of the individual&#146;s yield basis (rendementsgrondslag) insofar
as this exceeds a certain threshold (heffingsvrijvermogen). The individual&#146;s yield basis is determined as the fair market value of certain qualifying assets (including, as the case may be, the ordinary shares) held by the Dutch Resident
Individual less the fair market value of certain qualifying liabilities, both determined on January&nbsp;1 of the relevant year. The deemed return of 4% will be taxed at a rate of 30% (rate for 2014). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Entities </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An entity that
is resident or deemed to be resident in the Netherlands (a &#147;Dutch Resident Entity&#148;) will generally be subject to Netherlands corporate income tax with respect to income and capital gains derived from the ordinary shares. The Netherlands
corporate income tax rate is 20% for the first &#128;200,000 of the taxable amount, and 25% for the excess of the taxable amount over &#128;200,000 (rates applicable for 2014). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Non-Residents of the Netherlands </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A person who is neither a Dutch Resident Individual nor Dutch Resident Entity (a &#147;Non-Dutch Resident&#148;) and who holds our ordinary
shares is generally not subject to Netherlands income tax or corporate income tax </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-121- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(other than dividend withholding tax described above) on the income and capital gains derived from the ordinary shares, provided that: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">such Non-Dutch Resident does not derive profits from an enterprise or deemed enterprise, whether as an entrepreneur (<I>ondernemer</I>) or pursuant to a co-entitlement to the net worth of such enterprise (other than as
an entrepreneur or a shareholder) which enterprise is, in whole or in part, carried on through a permanent establishment or a permanent representative in the Netherlands and to which enterprise or part of an enterprise, as the case may be, the
ordinary shares are attributable or deemed attributable; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">in the case of a Non-Dutch Resident who is an individual, such individual does not derive income or capital gains from the Shares that are taxable as benefits from &#147;miscellaneous activities&#148; (<I>resultaat uit
overige werkzaamheden</I>, as defined in the Netherlands Income Tax Act 2001) performed or deemed to be performed in the Netherlands, which include the performance of activities with respect to the ordinary shares that exceed regular, active
portfolio management (<I>normaal, actief vermogensbeheer</I>); and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top">such Non-Dutch Resident is neither entitled to a share in the profits of an enterprise nor co-entitled to the net worth of such enterprise effectively managed in the Netherlands, other than by way of the holding of
securities or, in the case of an individual, through an employment contract, to which enterprise the ordinary shares or payments in respect of the ordinary shares are attributable. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A Non-Dutch Resident that nevertheless falls under any of the paragraphs (i)&nbsp;through (iii)&nbsp;mentioned above, may be subject to
Netherlands income tax or corporate income tax on income and capital gains derived from our ordinary shares. In case such holder of our ordinary shares is considered to be a resident of a country other than the Netherlands under the provisions of a
double taxation convention the Netherlands has concluded with such country, the following may apply. Such holder of ordinary shares may, depending on the terms of and subject to compliance with the procedures for claiming benefits under such double
taxation convention, be eligible for a full or partial exemption from Netherlands taxes (if any) on (deemed) income or capital gains in respect of the ordinary shares, provided such holder is entitled to the benefits of such double taxation
convention. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Gift or Inheritance Tax </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No Netherlands gift or inheritance taxes will be levied on the transfer of our ordinary shares by way of gift by or on the death of a holder of
our ordinary shares, who is neither a resident nor deemed to be a resident of the Netherlands for the purpose of the relevant provisions, unless: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top">the transfer is construed as an inheritance or bequest or as a gift made by or on behalf of a person who, at the time of the gift or death, is or is deemed to be a resident of the Netherlands for the purpose of the
relevant provisions; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top">such holder dies while being a resident or deemed resident of the Netherlands within 180 days after the date of a gift of the ordinary shares. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of Netherlands gift and inheritance tax, an individual who is of Dutch nationality will be deemed to be a resident of the
Netherlands if he has been a resident in the Netherlands at any time during the ten years preceding the date of the gift or his death. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For purposes of Netherlands gift tax, an individual will, irrespective of his nationality, be deemed to be resident of the Netherlands if he
has been a resident in the Netherlands at any time during the 12-months preceding the date of the gift. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Value Added Tax </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No Netherlands value added tax will be payable by a holder of our ordinary shares in consideration for the offer of our ordinary shares (other
than value added taxes on fees payable in respect of services not exempt from Netherlands value added tax). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-122- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Other Taxes or Duties </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No Netherlands registration tax, custom duty, stamp duty or any other similar tax or duty, other than court fees, will be payable in the
Netherlands by a holder of our ordinary shares in respect of or in connection with the acquisition, ownership and disposition of the ordinary shares. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>F. Dividends and Paying Agents </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not
applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>G. Statement of Experts </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>H. Documents on Display
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You may read and copy any reports or other information that we file at the SEC&#146;s Public Reference Room at 100 F Street, N.E.,
Washington, D.C. 20549. Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-SEC-0330. In addition, the SEC maintains an Internet website that contains reports and other information about issuers,
like us, that file electronically with the SEC. The address of that site is www.sec.gov. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We also make available on our website, free of
charge, our annual reports on Form 20-F and the text of our reports on Form 6-K, including any amendments to these reports, as well as certain other SEC filings, as soon as reasonably practicable after they are electronically filed with or furnished
to the SEC. Our website address is www.constellium.com. The information contained on our website is not incorporated by reference in this document. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>I. Subsidiary Information </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not
applicable. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_14"></A>Item&nbsp;11. Quantitative and Qualitative Disclosures About Market Risk </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Refer to the information set forth under the Notes to the consolidated financial statements at &#147;Item 18. Financial Statements&#148;: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Note 2&#151;Summary of Significant Accounting Policies&#151;Financial Instruments; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Note 24&#151;Financial Risk Management. </TD></TR></TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_15"></A>Item&nbsp;12.
Description of Securities Other than Equity Securities </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_16"></A>PART II </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_17"></A>Item&nbsp;13. Defaults, Dividend Arrearages and Delinquencies </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-123- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_18"></A>Item&nbsp;14. Material Modifications to the Rights of Security
Holders and Use of Proceeds </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. Material Modifications to the Rights of Security Holders </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Use of Proceeds </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_19"></A>Item&nbsp;15. Controls and Procedures </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>A. Disclosure Controls and Procedures </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Chief Executive Officer and principal financial officer, after evaluating the effectiveness of our disclosure controls and procedures (as
defined in Exchange Act Rule 13a-15(e)) as of the end of the period covered by this Form 20-F, have concluded that, as of such date, our disclosure controls and procedures were effective to ensure that material information relating to Constellium
was timely made known to them by others within the Group. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>B. Management&#146;s Annual Report on Internal Control over Financial
Reporting and Attestation Report of the Registered Public Accounting Firm </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The management of the Company, including the Chief Executive
Officer and Chief Financial Officer, is responsible for establishing and maintaining adequate internal controls over financial reporting, as defined in the Securities Exchange Act of 1934, as amended, Rule 13a-15(f). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company&#146;s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability
of financial reporting and the preparation of financial statements for external purposes in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and as endorsed by the
European Union (EU). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company&#146;s internal control over financial reporting includes those policies and procedures that
(i)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (ii)&nbsp;provide reasonable assurance that transactions are recorded as
necessary to permit preparation of financial statements in accordance with IFRS, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and
(iii)&nbsp;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company&#146;s assets that could have a material effect on the financial statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of
any evaluation of the effectiveness of internal control to future periods are subject to the risk that controls may become inadequate because of changes in conditions, and that the degree of compliance with the policies or procedures may
deteriorate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium&#146;s management has assessed the effectiveness of the Company&#146;s internal controls over financial
reporting as of December&nbsp;31, 2014 based on the criteria established in <I>Internal Control &#150; Integrated Framework (2013)</I>&nbsp;issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) and, based on such
criteria, Constellium&#146;s management has concluded that, as of December&nbsp;31, 2014, the Company&acute;s internal control over financial reporting is effective. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-124- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>C. Attestation report of the registered public accounting firm. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The effectiveness of the Company&#146;s internal control over financial reporting as of December&nbsp;31, 2014 has been audited by
PricewaterhouseCoopers Audit, an independent registered public accounting firm, as stated in their report which appears herein. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B>D.
Changes in Internal Control over Financial Reporting </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the period covered by this report, we have not made any change to our
internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_20"></A>Item&nbsp;16A. Audit Committee Financial Expert </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our board of directors has determined that Messrs. Brandjes, Guillemot, Hartman, Maugis, Ormerod and Paschke and Ms.&nbsp;Walker satisfy the
&#147;independence&#148; requirements set forth in Rule 10A-3 under the Exchange Act. Our board of directors has also determined that each of Messrs.&nbsp;Paschke and Ormerod and Ms. Walker is an &#147;audit committee financial expert&#148; as
defined in Item&nbsp;16A of Form <FONT STYLE="white-space:nowrap">20-F</FONT> under the Exchange Act. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_21"></A>Item&nbsp;16B. Code of Ethics </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have adopted a Worldwide Code of Employee and Business Conduct that applies to all our employees, officers and directors, including our
principal executive, principal financial and principal accounting officers. Our Worldwide Code of Employee and Business Conduct addresses, among other things, competition and fair dealing, conflicts of interest, financial integrity, government
relations, confidentiality and corporate opportunity requirements and the process for reporting violations of the Worldwide Code of Business Conduct and Ethics, employee misconduct, conflicts of interest or other violations. Our Worldwide Code of
Employee and Business Conduct is intended to meet the definition of &#147;code of ethics&#148; under Item&nbsp;16B of Form 20-F under the Exchange Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A copy of our Worldwide Code of Employee and Business Conduct is available on our website at www.constellium.com. Any amendments to the
Worldwide Code of Employee and Business Conduct, or any waivers of its requirements, will be disclosed on our website. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_22">
</A>Item&nbsp;16C. Principal Accountant Fees and Services </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">PricewaterhouseCoopers Audit has served as our independent registered
public accounting firm for each of the fiscal years in the three-year period ended December&nbsp;31, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table sets out
the aggregate fees for professional services and other services rendered to us by PricewaterhouseCoopers in the years ended December&nbsp;31, 2014 and 2013, and breaks down these amounts by category of service: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>For&nbsp;the&nbsp;year&nbsp;ended&nbsp;December&nbsp;31,</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2014&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2013&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center"><B>(&#128; in thousands)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Audit fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9,181</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10,695</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Audit-related fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">682</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,327</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">561</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,398</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">All other fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10,424</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13,429</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-125- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Audit Fees </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Audit fees consist of fees related to the annual audit of our consolidated financial statements, the audit of the statutory financial
statements of our subsidiaries, other audit or interim review services provided in connection with statutory and regulatory filings or engagements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Audit-Related Fees </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Audit-related fees
consist of fees rendered for assurance and related services that are reasonably related to the performance of the audit or review of the company&#146;s financial statements, or that are traditionally performed by the independent auditor, and include
consultations concerning financial accounting and reporting standards; advice and assistance in connection with local statutory accounting requirements and due diligence related to acquisitions or disposals. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Tax Fees </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Tax fees relate to tax
compliance, including the preparation of tax returns, tax advice, including assistance with tax audits, and tax services regarding statutory, regulatory or administrative developments. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Pre-Approval Policies and Procedures </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
advance approval of the Audit Committee or members thereof, to whom approval authority has been delegated, is required for all audit and non-audit services provided by our auditors. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_23"></A>Item&nbsp;16D. Exemptions from the Listing Standards for Audit Committees </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_24"></A>Item&nbsp;16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_25"></A>Item&nbsp;16F. Change in Registrant&#146;s Certifying Accountant </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">None. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_26"></A>Item&nbsp;16G. Corporate Governance </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dutch Corporate Governance Code </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Since we
are a public company and listed our shares on Euronext Paris, a regulated market, we are subjected to comply with the Dutch Corporate Governance Code (the &#147;Dutch Code&#148;). The Dutch Code, as amended, became effective on January&nbsp;1, 2009,
and applies to all Dutch companies listed on a government-recognized stock exchange, whether in the Netherlands or elsewhere. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Dutch
Code is based on a &#147;comply or explain&#148; principle. Accordingly, companies are required to disclose in their annual report filed in the Netherlands whether or not they are complying with the various rules of the Dutch Code that are addressed
to the board of directors or, if any, the supervisory board of the company and, if they do not apply those provisions, to give the reasons for such non-application. The Dutch Code contains principles and best practice provisions for managing boards,
supervisory boards, shareholders and general meetings of shareholders, financial reporting, auditors, disclosure, compliance and enforcement standards. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-126- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We acknowledge the importance of good corporate governance. The board of directors agrees with
the general approach and with the majority of the provisions of the Dutch Code. However, considering our interests and the interest of our stakeholders, at this stage, we do not apply a limited number of best practice provisions either because such
provisions conflict with or are inconsistent with the corporate governance rules of the NYSE and U.S. securities laws that apply to us, or because such provisions do not reflect best practices of global companies listed on the NYSE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The best practice provisions we do not apply include the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>An executive board member may not be a member of the supervisory board (or be a non-executive board member) of more than two Dutch listed companies. Nor may an executive board member be the chairman of the
supervisory board (or a board) of a listed company. Membership of the supervisory board (or non-executive board positions) of other companies within the group to which the Company belongs does not count for this purpose. The acceptance by an
executive board member of membership of the supervisory board or acceptance of a position as non-executive member of the board of a listed company requires the approval of the non-executive board members. Other important positions held by an
executive board member shall be notified to the board (best practice provision II.1.8).</I> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Our board of directors will
adopt a policy with respect to the number of additional board memberships that a board member will have. We will comply with applicable NYSE and SEC rules and the relevant provisions of Dutch law. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Remuneration (Principles II.2, III.7 and associated best practice provisions). </I></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">We
believe that our remuneration policy helps to focus directors, officers and other employees and consultants on business performance that creates shareholder value, to encourage innovative approaches to the business of the Company and to encourage
ownership of our shares by directors, officers and other employees and consultants. Aspects of our remuneration policy may deviate from the Dutch Code to comply with applicable NYSE and SEC rules. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Conflicts of interest and related party transactions (Principles II.3, III.6 and associated best practice provisions). </I></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">We have a policy on conflicts of interests and related party transactions. The policy provides that the determination of whether a conflict of
interests exists will be made in accordance with Dutch law and on a case-by-case basis. We believe that it is not in the interest of the Company to provide for deemed conflicts of interests. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Independence (Principle III.2 and associated best practice provisions). </I></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">We may need to
deviate from the Dutch Code&#146;s independence definition for board members either because such provisions conflict with or are inconsistent with the corporate governance rules of the NYSE and U.S. securities laws that apply to us, or because such
provisions do not reflect best practices of global companies listed on the NYSE. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>The chairman of the board may not also be or have been an executive board member (best practice provisions III.4.2 and III.8.1). </I></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Mr.&nbsp;Evans has served as our Chairman since December 2012. Mr.&nbsp;Evans also served as our interim chief executive officer from December
2011 until the appointment of Mr.&nbsp;Pierre Vareille in March 2012. We believe the deviation from the Dutch Code is justified considering the short interim period during which Mr.&nbsp;Evans acted as executive board member. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>The vice-chairman of the board shall deputize for the chairman when the occasion arises. By way of addition to best practice provision III.1.7, the vice-chairman shall act as contact for individual board
members concerning the functioning of the chairman of the board (best practice provision III.4.4). </I></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">We intend to comply
with certain corporate governance requirements of the NYSE in lieu of the Dutch Code. Under the corporate governance requirements of the NYSE, we are not required to appoint a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-127- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
vice-chairman. If the chairman of our board of directors is absent, the directors that are present will elect a non-executive board member to chair the meeting. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>The terms of reference of the board shall contain rules on dealing with conflicts of interest and potential conflicts of interest between board members and the external auditor on the one hand and the company
on the other. The terms of reference shall also stipulate which transactions require the approval of the non-executive board members. The company shall draw up regulations governing ownership of and transactions in securities by board members, other
than securities issued by their &#147;own&#148; company (best practice provision III.6.5). </I></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">The Company believes that
board members should not be further limited by internal regulations in addition to the rules and restrictions under applicable securities laws. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>The majority of the members of the board of directors shall be non-executive directors and are independent within the meaning of best practice provision III.2.2 (best practice provision III.8.4).
</I></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Seven non-executive members of our 10 member board are independent. It is our view that given the nature of our business
and the practice in our industry and considering our shareholder structure, it is justified that only seven non-executive directors are independent. We may need to deviate from the Dutch Code&#146;s independence definition for board members either
because such provisions conflict with or are inconsistent with the corporate governance rules of the NYSE and U.S. securities laws that apply to us, or because such provisions do not reflect best practices of global companies listed on the NYSE, or
because such provisions do not reflect best practices of global companies listed on the NYSE. We may need to further deviate from the Dutch Code&#146;s independence definition for board members when looking for the most suitable candidates. For
example, a current board member or future board candidate may have particular knowledge of, or experience in, the downstream aluminium rolled and extruded products and related businesses, but may not meet the definition of independence in the Dutch
Code. As such background is very important to the efficacy of our board of directors in managing a highly technical business, and because our industry has relatively few participants, our board may decide to nominate candidates for appointment who
do not fully comply with the criteria as listed under best practice provision III.2.2 of the Dutch Code. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>The company shall formulate an &#147;outline policy on bilateral contacts,&#148; as described in the Dutch Code, with the shareholders and publish this policy on its website (best practice provision IV.3.13).
</I></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">We will not formulate an &#147;outline policy on bilateral contacts&#148; with the shareholders. We will comply with
applicable NYSE and SEC rules and the relevant provisions of applicable law with respect to contacts with our shareholders. We believe that all contacts with our shareholders should be assessed on a case-by-case basis. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>A person may be appointed as non-executive member of the board for a maximum of three 4-year terms (best practice provisions III.3.5). </I></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">On June&nbsp;11, 2014 Mr.&nbsp;Paschke and Mr.&nbsp;Guillemot were reappointed for the first time as non-executive board members for a period
of one year. Messrs. Hartman, Brandjes and Ormerod and Ms.&nbsp;Walker were on June&nbsp;11, 2014 appointed as new non-executive board members also for a period of one year. This deviation gives the shareholders the possibility to vote on a possible
reappointment of a director after one year instead of four years. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><I>&#149;</I></TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I></I><I>Pursuant to best practice provision III.3.6. the non-executive board members shall draw up a retirement schedule in order to avoid, as far as possible, a situation in which many non-executive board members
retire at the same time. The retirement schedule shall be made generally available and shall be posted on the company&#146;s website. </I></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">As (most) of our non-executive board members are (re)appointed for one year, there is no retirement schedule. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-128- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Pursuant to best practice provision IV.1.1, a general meeting of shareholders is empowered to cancel binding nominations of candidates for the board, and to dismiss members of the board by a simple majority of votes
of those in attendance, although the company may require a quorum of at least one-third of the voting rights outstanding. If such quorum is not represented, but a majority of those in attendance vote in favor of the proposal, a second meeting may be
convened in the future and its vote will be binding, even without a one-third quorum.</I> Our Amended and Restated Articles of Association currently provide that a general meeting of shareholders may at all times overrule a binding nomination by a
resolution adopted by at least a two-thirds majority of the votes cast, if such majority represents more than half of the issued share capital. Although this constitutes a deviation from provision IV.1.1 of the Dutch Code, we hold the view that
these provisions will enhance the continuity of our management and policies. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><I>Best practice provision IV.3.1 recommends that we should enable the shareholders to follow in real time all meetings with analysts, investors and press conferences.</I> We believe that enabling shareholders to follow
in real time all the meetings with analysts, presentations to analysts, presentations to investors as referred to in best practice provision IV.3.1 of the Dutch Code would create an excessive burden on our resources. We will ensure that analyst
presentations are posted on our website after meetings with analysts. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The NYSE requires that we disclose to investors any
significant ways in which our corporate governance practices differ from those followed by U.S. domestic companies under NYSE requirements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Among these differences, shareholder approval is required by the NYSE prior to the issuance of ordinary stock: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">to a director, officer or substantial security holder of the company (or their affiliates or entities in which they have a substantial interest) in excess of one percent of either the number of shares of ordinary stock
or the voting power outstanding before the issuance, with certain exceptions; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">that will have voting power equal to or in excess of 20 percent of either the voting power or the number of shares outstanding before the issuance, with certain exceptions; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">that will result in a change of control of the issuer. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under Dutch rules, shareholders can
delegate this approval to the Board of Directors at the annual shareholders meeting. In the past, our shareholders have delegated this approval power to our Board at our annual meeting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In some situations, NYSE rules are more stringent, and in others the Dutch rules are. Other significant differences include: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">NYSE rules require shareholder approval for changes to equity compensation plans, but under Dutch rules, shareholder approval is only required for changes to equity compensation plans for members of the Board of
Directors; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Under Dutch corporate governance rules the audit and remuneration committees may not be chaired by the Chairman of the Board; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Under Dutch rules, auditors must be appointed by the general meeting of shareholders. NYSE rules require only that they be appointed by the audit committee; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Both NYSE and Dutch rules require that a majority of the Board of Directors be independent, but the definition of independence under each set of rules is not identical. For example, Dutch rules require a longer
&#147;look-back&#148; period for former directors; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Dutch rules permit deviation from the rules if the deviations are explained in accordance with the rules. The NYSE rules do not allow such deviations. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-129- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_27"></A>Item&nbsp;16H. Mine Safety Disclosure </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_28"></A>PART III </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_29"></A>Item&nbsp;17. Financial Statements </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Not applicable. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_30"></A>Item&nbsp;18. Financial Statements </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The audited consolidated financial statements as required under Item&nbsp;18 are attached hereto starting on page&nbsp;F-1 of this Annual
Report. The audit report of PricewaterhouseCoopers Audit, an independent registered public accounting firm, is included herein preceding the audited consolidated financial statements. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_31"></A>Item&nbsp;19. Exhibits </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following exhibits are filed as part of this Annual Report: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-130- </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following documents are filed as part of this registration statement: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;3.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amended and Restated Articles of Association of Constellium N.V. (incorporated by reference to Exhibit 3.2 of Constellium, N.V.&#146;s Amendment No. 3 to the Registration Statement on Form F-1 filed on May&nbsp;21, 2013, File No.
333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;3.2</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Deed of Conversion-Constellium N.V. (incorporated by reference to Exhibit 3.2 of Constellium, N.V.&#146;s Amendment No. 4 to the Registration Statement on Form F-1 filed on May 21, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Partnership Agreement of Omega Management GmbH &amp; Co. KG as amended and restated as of May&nbsp;21, 2013 (incorporated by reference to Exhibit 4.1 of Constellium, N.V.&#146;s Amendment No. 3 to the Registration Statement on Form
F-1 filed on May 21, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.2</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Second Amendment to Credit Agreement, dated as of March 25, 2013, among Constellium Holdco B.V., as the Dutch Borrower, Constellium France S.A.S., as the French Borrower, the new Term Lenders party thereto, Deutsche Bank Trust
Company Americas, as the Existing Administrative Agent, and Deutsche Bank AG New York Branch, as the successor Administrative Agent (incorporated by reference to Exhibit 4.2 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May
13, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.3</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Third Amendment to Credit Agreement, dated as of July 31, 2013, among Constellium N.V., as the Dutch Borrower, Constellium France S.A.S., as the French Borrower, the lenders party thereto, and Deutsche Bank AG New York Branch, as
Administrative Agent (incorporated by reference to Exhibit 4.3 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on October 23, 2013, File <FONT STYLE="white-space:nowrap">No.&nbsp;333-191863)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.4</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">ABL Credit Agreement, dated as of May 25, 2012, among Constellium Holdco II B.V., Constellium U.S. Holdings I, LLC, Constellium Rolled Products Ravenswood, LLC, as borrower, the lenders from time to time party hereto, and Deutsche
Bank Trust Company Americas, as Administrative Agent and Collateral Agent (incorporated by reference to Exhibit 4.3 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May 13, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.5</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Second Amendment to Credit Agreement, dated as of March 25, 2013, among Constellium Rolled Products Ravenswood, LLC, as borrower, and Deutsche Bank Trust Company Americas, as administrative agent and collateral agent (incorporated
by reference to Exhibit 4.4 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May 13, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.6</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Third Amendment to Credit Agreement, dated as of October 1, 2013, among Constellium Rolled Products Ravenswood, LLC, as borrower, the lenders party thereto, and Deutsche Bank Trust Company Americas, as Administrative Agent
(incorporated by reference to Exhibit 4.6 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on October 23, 2013, File No. 333-191863)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.7</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Indenture, dated as of May 7, 2014, between Constellium N.V., the guarantors party thereto, and Deutsche Bank Trust Company Americas, as Trustee, providing for the issuance of the 5.750% Senior Notes due 2024**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Indenture, dated as of May 7, 2014, between Constellium N.V., the guarantors party thereto, Deutsche Bank Trust Company Americas, as Trustee, Deutsche Bank AG, London Branch, as Principal Paying Agent, and Deutsche Bank Luxembourg
S.A., as Registrar and Transfer Agent, providing for the issuance of the 4.625% Senior Notes due 2021**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.9</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Credit Agreement, dated as of May&nbsp;7, 2014, among Constellium N.V., as Borrower, the lenders party thereto, and Deutsche Bank AG New York Branch, as Administrative
Agent**</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">131 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="90%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.10</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">First Amendment to Credit Agreement, dated December 5, 2014, among Constellium N.V., the lenders party thereto, and Deutsche Bank AG New York Branch, as Administrative Agent**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.11</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Second Amendment to Credit Agreement, dated February 5, 2015, among Constellium N.V., the lenders party thereto, and Deutsche Bank AG New York Branch, as Administrative Agent**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.12</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Indenture, dated as of December 19, 2014, between Constellium N.V., the guarantors party thereto, and Deutsche Bank Trust Company Americas, as Trustee, providing for the issuance of the 8.00% Senior Notes due 2023**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.13</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Indenture, dated as of December 19, 2014, between Constellium N.V., the guarantors party thereto, Deutsche Bank Trust Company Americas, as Trustee, Deutsche Bank AG, London Branch, as Principal Paying Agent, and Deutsche Bank
Luxembourg S.A., as Registrar and Transfer Agent, providing for the issuance of the 7.00% Senior Notes due 2023**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.14</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Indenture, dated as of December 11, 2013, among Wise Metals Group, Wise Alloys Finance Corporation, the guarantors party thereto, and Wells Fargo Bank, National Association, as Administrative Agent and Collateral Agent, providing
for the issuance of the 8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.15</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Credit Agreement, dated as of December 11, 2013, among Wise Alloys LLC, as Borrower, the credit parties party thereto, the lenders party thereto, and General Electric Capital Corporation, as Administrative Agent**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.16</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amendment No. 3 to Credit Agreement, dated as of November 26, 2014, by and among Wise Alloys LLC, the other credit parties party thereto, the lenders party thereto, and General Electric Capital Corporation, as Agent**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.17</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Consent and Amendment No. 4 to Credit Agreement, dated as of December 23, 2014, by and among Wise Alloys LLC, the other credit parties party thereto, the lenders party thereto, and General Electric Capital Corporation, as
Agent**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&nbsp;&nbsp;4.18</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Indenture, dated as of April 16, 2014, among Wise Metals Intermediate Holdings LLC, Wise Holdings Finance Corporation, and Wilmington Trust National Association, as Trustee, providing for the issuance of the 9<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% / 10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260;<SUB STYLE="vertical-align:bottom">2</SUB>% Senior PIK Toggle Notes due 2019**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amended and Restated Shareholders Agreement, dated May 29, 2013, among Constellium N.V. and the other signatories thereto (incorporated by reference to Exhibit 10.1 of Constellium, N.V.&#146;s Registration Statement on Form F-1
filed on May 13, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.2</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2013 Executive Performance Award Plan (incorporated herein by reference to Exhibit 10.2 to the Company&#146;s Annual Report on Form 20-F filed on April 22, 2014)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.3</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2012 Long-Term Incentive (Cash) Plan (incorporated by reference to Exhibit 10.3 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May 13, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.4</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Employment Letter by and between Constellium Switzerland AG and Pierre Vareille, dated August 30, 2012 (incorporated by reference to Exhibit 10.4 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May 13, 2013,
File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.5</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Employment Letter by and between Constellium France Holdco SAS and Didier Fontaine, dated May&nbsp;11, 2012 (incorporated by reference to Exhibit 10.5 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on
May&nbsp;13, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.6</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amended and Restated Factoring Agreement between Alcan Rhenalu S.A.S. as French Seller, Alcan Aerospace S.A.S. as French Seller, Alcan Softal S.A.S. as French Seller, Alcan France Extrusions S.A.S. as French Seller, Alcan Aviatube
S.A.S. as French Seller, Omega Holdco II B.V. as Parent Company, Engineered Products Switzerland A.G. as Sellers&#146; Agent and GE Factofrance S.N.C. as</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">132 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="90%"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Factor, dated January 4, 2011, as amended as of November 8, 2013 (incorporated by reference to Exhibit 10.7 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on December 10, 2013, File No. 333-192680)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.7</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amendment and Consent Letter No 10 between GE Factofrance S.A.S. as Factor and Constellium Switzerland AG, Constellium Holdco II B.V., Constellium France S.A.S., Constellium Extrusions France S.A.S. and Constellium Aviatube S.A.S.
as French Sellers, dated February 3, 2014 (incorporated by reference to Exhibit 10.7.1 of Constellium, N.V.&#146;s Registration Statement on Form&nbsp;F-1 filed on January 27, 2014, File No. 333-193583)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Factoring Agreement between GE Capital Bank AG and Alcan Aluminium Valais S.A., dated December 16, 2010 (incorporated by reference to Exhibit 10.8 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May 13, 2013,
File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.9</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Country Specific Amendment Agreement (Switzerland) to the Factoring Agreement between GE Capital Bank AG and Alcan Aluminium Valais S.A., dated December 16, 2010 (incorporated by reference to Exhibit 10.9 of Constellium, N.V.&#146;s
Registration Statement on Form F-1 filed on May&nbsp;13, 2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.9.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amendment Agreement to a Factoring Agreement between GE Capital Bank AG and Constellium Valais AG (formerly: Alcan Aluminium Valais AG), dated November 12, 2013 (incorporated by reference to Exhibit 10.9.1 of Constellium,
N.V.&#146;s Registration Statement on Form F-1 filed on December 10, 2013, File No. 333-192680)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.10</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Factoring Agreement between GE Capital Bank AG and Alcan Aluminium-Presswerke GmbH, dated December 16, 2010 (incorporated by reference to Exhibit 10.10 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May 13,
2013, File No. 333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.10.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amendment Agreement to a Factoring Agreement between GE Capital Bank AG and Constellium Extrusions Deutschland GmbH (formerly Alcan Aluminium-Presswerke GmbH), dated November&nbsp;12, 2013 (incorporated by reference to Exhibit
10.10.1 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on December 10, 2013, File No. 333-192680)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.11</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Factoring Agreement between GE Capital Bank AG and Alcan Singen GmbH, dated December 16, 2010 (incorporated by reference to Exhibit 10.11 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May 13, 2013, File No.
333-188556)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.11.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Amendment Agreement to a Factoring Agreement between GE Capital Bank AG and Constellium Singen GmbH (formerly: Alcan Singen GmbH), dated November 12, 2013 (incorporated by reference to Exhibit 10.10.1 of Constellium, N.V.&#146;s
Registration Statement on Form F-1 filed on December 10, 2013, File No. 333-192680)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.12</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Metal Supply Agreement between Engineered Products Switzerland AG and Rio Tinto Alcan Inc. for the supply of sheet ingot in Europe, dated January 4, 2011 (incorporated by reference to Exhibit&nbsp;10.12 of Constellium, N.V.&#146;s
Amendment No. 3 to the Registration Statement on Form F-1 filed on May 13, 2013, File No. 333-188556)+</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.13</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Constellium N.V. 2013 Equity Incentive Plan (incorporated by reference to Exhibit 10.13 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on May&nbsp;13, 2013, File
<FONT STYLE="white-space:nowrap">No.&nbsp;333-188556)</FONT></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.14</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Restricted Stock Unit Award Agreement under the Constellium N.V. 2013 Equity Incentive Plan (incorporated by reference to Exhibit 10.14 of Constellium, N.V.&#146;s Registration Statement on Form F-1 filed on January 27,
2014, File No. 333-193583)</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.15</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Unit Purchase Agreement between Constellium N.V., Wise Metals Holdings LLC and Silver Knot, LCC, dated October 3, 2014 (incorporated by reference to Exhibit 10.1 of Constellium N.V.&#146;s Form&nbsp;6-K furnished on October 3,
2014)</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">133 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="90%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>10.16</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Receivables Purchase Agreement, dated as of March 23, 2015, between Wise Alloys Funding LLC, as Seller, Wise Alloys LLC, as Servicer, and HSBC Bank USA, National Association, as Purchaser**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>12.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Certification by Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>12.2</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Certification by Chief Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>13.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Certification by Chief Executive Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>13.2</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Certification by Chief Financial Officer Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>15.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Consent of Independent Registered Public Accounting Firm**</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>21.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">List of subsidiaries**</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">**</TD>
<TD ALIGN="left" VALIGN="top">Filed herein. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">+</TD>
<TD ALIGN="left" VALIGN="top">Confidential treatment granted as to certain portions, which portions have been provided separately to the Securities and Exchange Commission. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">134 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="rom908770_32"></A>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The registrant hereby certifies that it meets all of the requirements for filing on Form 20-F and that it has duly caused and authorized the
undersigned to sign this Annual Report on its behalf. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Pierre Vareille</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name:&nbsp;&nbsp;&nbsp;&nbsp;Pierre Vareille</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Chief Executive Officer</I></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April 24, 2015 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">135 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g908770g16e66.jpg" ALT="LOGO">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Report of Independent Registered Public Accounting Firm</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To the board of directors and shareholders of </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Constellium N.V.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In our opinion, the accompanying consolidated statements of financial position and the related consolidated statement of income, comprehensive income /
(loss), changes in equity and cash flows present fairly, in all material respects, the financial position of Constellium N.V. and its subsidiaries at December&nbsp;31, 2014 and December&nbsp;31, 2013, and the results of their operations and their
cash flows for each of the three years in the period ended December&nbsp;31, 2014 in conformity with International Financial Reporting Standards as issued by the International Accounting Standards Board and in conformity with International Financial
Reporting Standards as adopted by the European Union. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December&nbsp;31, 2014, based on criteria established in Internal
Control&#151;Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company&#146;s management is responsible for these financial statements, for maintaining effective internal control
over financial reporting and for its assessment of the effectiveness of internal control over financial reporting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our responsibility is to express
opinions on these financial statements and on the Company&#146;s internal control over financial reporting based on our audits which was an integrated audit in 2014. We conducted our audits in accordance with the standards of the Public Company
Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal control
over financial reporting was maintained in all material respects. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting
principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial
reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we
considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A company&#146;s internal control over
financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.
A company&#146;s internal control over financial reporting includes those policies and procedures that (i)&nbsp;pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the
assets of the company; (ii)&nbsp;provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures
of the company are being made only in accordance with authorizations of management and directors of the company; and (iii)&nbsp;provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of
the company&#146;s assets that could have a material effect on the financial statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of
compliance with the policies or procedures may deteriorate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neuilly-sur-Seine, France </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PricewaterhouseCoopers Audit </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Olivier Lotz </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Olivier Lotz </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Partner </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">March&nbsp;25, 2015 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><A NAME="rom908770_33"></A>CONSOLIDATED INCOME STATEMENT </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="61%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Notes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revenue</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4,&nbsp;5</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,666</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,495</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3,610</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,183</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,024</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,136</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Gross profit</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>483</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>471</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>474</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">6</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(210</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(212</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Research and development expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">6</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">22</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(25</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other (losses) / gains&#151;net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(83</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income from operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>150</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>209</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>263</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">1</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance income</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(88</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(67</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(64</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Finance costs&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">10</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(58</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(50</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of (loss) / profit of joint-ventures</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">26</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income before income tax</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>91</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>135</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">11</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income from continuing operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>149</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Discontinued operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net Income / (Loss) from discontinued operations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">33</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income for the period</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income attributable to:</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Owners of the Company</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-controlling interests</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Earnings per share attributable to the equity holders of the Company </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:65.00pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in Euros per share)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Notes</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>From continuing and discontinued operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>From continuing operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>From discontinued operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.09</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">12</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.09</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">The accompanying notes are an integral part of these consolidated financial statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME / (LOSS) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Notes</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Other Comprehensive (Loss) / Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I><U>Items that will not be reclassified subsequently in the Consolidated Income Statement</U></I></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remeasurement on post-employment benefit obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(137</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(80</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred tax on remeasurement on post-employment benefit obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash flow hedges</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred tax on cash flow hedges</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I><U>Items that may be reclassified subsequently in the Consolidated Income Statement</U></I></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency translation differences</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Other Comprehensive (Loss) / Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(130</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>63</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(64</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Comprehensive (Loss) / Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(76</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>163</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>77</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Attributable to:</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Owners of the Company</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(80</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">161</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-controlling interests</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Comprehensive (Loss) / Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(76</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>163</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>77</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">The accompanying notes are an integral part of these consolidated financial statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONSOLIDATED STATEMENT OF FINANCIAL POSITION </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="73%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Notes</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Assets</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Non-current assets</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intangible assets (including goodwill)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Property, plant and equipment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">632</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">408</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Investments in joint ventures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income tax assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">190</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables and other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>952</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>674</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Current assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">432</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">328</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables and other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">568</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">483</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">989</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">233</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2,046</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,069</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assets classified as held for sale</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,012</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,764</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Equity</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share capital</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share premium</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">162</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">162</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Retained deficit and other reserves</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(207</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(132</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Equity attributable to owners of the Company</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(43</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-controlling interests</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>36</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Liabilities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Non-current liabilities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,205</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">326</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables and other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income tax liabilities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pension and other post-employment benefit obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">654</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">507</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial liabilities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,991</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>970</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Current liabilities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables and other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">872</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">646</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income taxes payable</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial liabilities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,050</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>749</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liabilities classified as held for sale</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Liabilities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,049</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,728</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Equity and Liabilities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,012</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,764</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">The accompanying notes are an integral part of these consolidated financial statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONSOLIDATED STATEMENT OF CHANGES IN EQUITY </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><I>(in millions of Euros)</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B><I></I><B>Share<BR>capital</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Share<BR>premium</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Re-<BR>measure-<BR>ment</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Foreign<BR>currency<BR>translation<BR>reserve</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>reserves</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Retained<BR>losses</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total<BR>Owners<BR>of the<BR>Company</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-<BR>controlling<BR>interests</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total<BR>equity</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at January 1, 2012</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(22</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(179</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(115</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(113</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">139</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other comprehensive loss</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(64</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(64</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(64</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Comprehensive Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(64</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>139</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>75</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>77</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Transactions with the Owners</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share equity plan</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at December 31, 2012</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(86</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(40</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(41</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at January 1, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(86</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(40</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(41</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other comprehensive income</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Comprehensive Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>63</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>161</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>163</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Transactions with the Owners</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share premium distribution(A)</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(98</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(103</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(103</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">MEP shares changes</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share equity plan</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prorata share issuance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interim dividend distribution(A)</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(147</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(147</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(147</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">IPO Primary offering</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">154</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">154</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">154</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">IPO Over-allotment</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">IPO Fees</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Transactions with non-controlling interests</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at December 31, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>162</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(23</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>36</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">On March 13, 2013, the Board of directors approved a distribution to the Company&#146;s shareholders. On March 28, 2013 a distribution was made of &#128;103 million. On May 21, 2013 an interim dividend was paid for
&#128;147 million on preference shares. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="47%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><I>(in millions of Euros)</I></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Share<BR>capital</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Share<BR>premium</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Re-<BR>measure-<BR>ment</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Cash<BR>flow<BR>hedges</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Foreign<BR>currency<BR>translation<BR>reserve</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>reserves</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Retained<BR>losses</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total<BR>Owners<BR>of the<BR>Company</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-<BR>controlling<BR>interests</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total<BR>equity</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at January 1, 2014</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>162</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(23</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>36</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other comprehensive loss</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(123</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(131</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(130</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Comprehensive Loss</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(123</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>51</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(80</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(76</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Transactions with the Owners</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share equity plan</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">MEP shares changes</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Transactions with non-controlling interests</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at December 31, 2014</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>162</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(146</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(45</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(43</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">The accompanying notes are an integral part of these consolidated financial statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>CONSOLIDATED STATEMENT OF CASH FLOWS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="61%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Notes</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash flows from / (used in) operating activities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income from continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">149</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adjustments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">241</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">133</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changes in working capital:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(95</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(48</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Margin calls</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">170</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other working capital</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(33</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changes in other operating assets and liabilities:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax paid</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pension liabilities and other post-employment benefit obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(49</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(43</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(40</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net cash flows from operating activities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>212</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>184</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>246</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash flows (used in) / from investing activities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchases of property, plant and equipment</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(199</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(144</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(126</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds from disposals, including joint-venture</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Investment in joint-venture</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(19</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds from finance lease</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other investing activities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net cash flows used in investing activities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(216</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(132</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(131</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash flows from / (used in) financing activities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net proceeds received from issuance of share</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">162</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interim dividend paid</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(147</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Withholding tax reimbursed / (paid)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Distribution of share premium to owners of the Company</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(103</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest paid</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash flows used in factoring</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(49</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds received from Term Loan and Senior Notes</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">351</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">154</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment of Term Loan</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(331</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(156</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(148</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds of other loans</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of deferred financing costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions with non-controlling interests</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financing activities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(34</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net cash flows from / (used in) financing activities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>753</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>43</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(86</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net increase in cash and cash equivalents</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>749</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>95</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents&#151;beginning of period</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">236</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">142</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of exchange rate changes on cash and cash equivalents</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash and cash equivalents&#151;end of period</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>991</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>236</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>142</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Less: Cash and cash equivalents classified as held for sale</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash and cash equivalents as reported in the Statement of Financial Position</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>989</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>233</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>142</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">The accompanying notes are an integral part of these consolidated financial statements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 1&#151;GENERAL INFORMATION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium is a global leader in the design and manufacture of a broad range of innovative specialty rolled and extruded aluminium products,
serving primarily the aerospace, packaging and automotive end-markets. The Group has a strategic footprint of manufacturing facilities located in the United States, Europe and China, operates 22 production facilities, 10 administrative and
commercial sites and one R&amp;D center and has approximately 8,900 employees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the initial public offering explained
hereafter, the Company was converted from a private company with limited liability (Constellium Holdco B.V.) into a public company with limited liability (Constellium N.V.). On May&nbsp;16, 2013, the Group increased its shares nominal value from
&#128;0.01 to &#128;0.02&nbsp;per share. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The business address (head office) of Constellium N.V. is Tupolevlaan 41-61, 1119 NW
Schiphol-Rijk, the Netherlands. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unless the context indicates otherwise, when we refer to &#147;we&#148;, &#147;our&#148;, &#147;us&#148;,
&#147;Constellium&#148;, the &#147;Group&#148; and the &#147;Company&#148; in this document, we are referring to Constellium N.V. and its subsidiaries. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Initial public offering </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On May&nbsp;22,
2013, Constellium completed an initial public offering (the &#147;IPO&#148;) of Class&nbsp;A ordinary shares; the shares began trading on the New York Stock Exchange on May&nbsp;23, 2013, and on the professional segment of NYSE Euronext on
May&nbsp;27, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium offered a total of 13,333,333 of its Class&nbsp;A ordinary shares, nominal value &#128;0.02&nbsp;per share
and the selling shareholders offered 8,888,889 of Class&nbsp;A ordinary shares, nominal value &#128;0.02&nbsp;per share. The underwriters exercised their over-allotment option to purchase an additional 2,251,306 Class&nbsp;A ordinary shares at a
public offering price of $15.00 per share. The exercise of the IPO over-allotment option brought the total number of Class&nbsp;A ordinary shares sold in the initial public offering to 24,473,528. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The total proceeds received by the Company from the IPO were &#128;179 million. Fees related to the IPO amounted to &#128;44&nbsp;million, of
which &#128;17&nbsp;million were accounted for as a deduction to share premium and &#128;27&nbsp;million expensed of which &#128;24&nbsp;million were recognized in Other expenses. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Secondary public offerings </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
November&nbsp;11, 2013, Constellium completed a public offering of Class&nbsp;A ordinary shares. The selling shareholders offered a total of 17,500,000 Class&nbsp;A ordinary shares at a price of $17.00 per share. 16,691,355 of the Class&nbsp;A
ordinary shares were sold by an affiliate of Rio Tinto Plc. and 808,645 by Omega management GmbH&nbsp;&amp; co. KG. The underwriters have exercised their option to purchase an additional 2,625,000 Class&nbsp;A ordinary shares from an affiliate of
Rio Tinto Plc. bringing the total number of Class&nbsp;A ordinary shares sold in this offering to 20,125,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On December&nbsp;12, 2013,
Constellium completed a public offering of Class&nbsp;A ordinary shares by an affiliate of Rio Tinto Plc. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium offered 8,345,713
Class&nbsp;A ordinary shares at a price of $19.80 per share. The underwriters have exercised their option to purchase an additional 1,251,847 Class&nbsp;A ordinary shares. The exercise of the option brought the total number of Class&nbsp;A ordinary
shares sold in this offering to 9,597,560. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company did not receive any of the proceeds from these offerings of ordinary shares
(including any ordinary shares sold pursuant to the underwriters&#146;s option to purchase additional ordinary shares). The total number of outstanding ordinary shares did not change as a result of the offering. Fees related to these offerings
amounted to &#128;3&nbsp;million in 2013 and recognized in Other expenses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;10, 2014, Constellium completed a third
secondary public offering of 25,000,000 of our Class&nbsp;A ordinary shares at a price to the public of $22.50 per share. The shares were offered by Apollo Funds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On March&nbsp;10, 2014, Constellium completed a fourth secondary public offering of 12,561,475 of our Class&nbsp;A ordinary shares at a price
to the public of $27.75 per share. The shares were offered by Apollo Funds. After this offering, Apollo Funds ceased to hold any of Constellium ordinary shares. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 2&#151;SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>a. <U>Statement of compliance</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
consolidated financial statements of Constellium N.V. and its subsidiaries have been prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB) and as endorsed by
the European Union (EU). The Group&#146;s application of IFRS results in no difference between IFRS as issued by the IASB and IFRS as endorsed by the EU. (http://ec.europa.eu/internal_market/accounting/ias/index_en.htm) </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The consolidated financial statements have been authorized for issue by the Board of Directors at its meeting held on March&nbsp;11, 2015.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>b. <U>Application of new and revised International Financial Reporting Standards (IFRS)</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Standards and Interpretations with an application date for the Group as of January&nbsp;1, 2014: </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Amendment to IAS 32 &#147;Financial instruments: Presentation&#148; on offsetting financial assets and liabilities. This amendment clarifies that the right of set-off must not be contingent on a future event. It must
also be legally enforceable for all counterparties in the normal course of business, as well as in the event of default, insolvency or bankruptcy. The amendment also considers settlement mechanisms. The amendment did not have a significant effect on
the group financial statements. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Amendments to IAS 36 &#147;Impairment of assets&#148; on the recoverable amount disclosures for non-financial assets. This amendment removed certain disclosures on the recoverable amount of cash generating units which
had been included in IAS 36 by the issue of IFRS 13. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Amendments to IAS 39 &#147;Financial instruments: Recognition and measurement&#148; on the novation of derivatives and the continuation of hedge accounting. This amendment considers legislative changes to
&#147;over-the-counter&#148; derivatives and the establishment of central counterparties. Under IAS 39 novation of derivatives to central counterparties would result in discrepancies of hedge accounting. The amendment provides relief from
discontinuing hedge accounting when novation of a hedge instrument meets specified criteria. The Group has applied the amendment and there is no impact on the financial statements. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">IFRIC 21 &#147;Levies&#148; sets out the accounting for an obligation to pay a levy if the liability is within the scope of IAS 37 &#147;Provisions&#148;. The interpretation addresses what the obligating event is that
gives rise to pay a levy and when a liability should be recognized. The application of this interpretation has no material effect on the Group&#146;s financial statements. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>c. <U>New standards and interpretations not yet mandatorily applicable</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group has not applied the following new, revised and amended standards and interpretations that have been issued but are not yet effective
and which could affect the Group&#146;s future consolidated financial statements: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IFRS 9, &#145;Financial instruments&#146;, addresses
the classification, measurement and recognition of financial assets and financial liabilities. It replaces the guidance in IAS 39 that relates to the classification and measurement of financial instruments. Modifications introduced by IFRS 9 relate
primarily to: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">classification and measurement of financial assets. The basis of classification depends on the entity&#146;s business model and the contractual cash flow characteristics of the financial asset. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">depreciation of receivables, now based on the expected credit losses model. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">hedge accounting. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The standard is effective for accounting periods beginning on or after
January&nbsp;1, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IFRS 15, &#145;Revenue from contracts with customers&#146; deals with revenue recognition and establishes
principles for reporting information to users of financial statements about the nature, amount, timing and uncertainty of revenue and cash flows arising from an entity&#146;s contracts with customers. Revenue is recognized when a customer obtains
control of a good or service and thus has the ability to direct the use and obtain the benefits from the good or service. The standard replaces IAS 18 &#145;Revenue&#146; and IAS 11 &#145;Construction contracts&#146; and related interpretations. The
standard is effective for accounting periods beginning on or after January&nbsp;1, 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The impact of these standards on the
Group&#146;s results and financial situation is currently being evaluated. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>d. <U>Presentation of the operating performance of each operating segment
and of the Group</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with IFRS 8 &#147;Operating Segments&#148;, operating segments are based upon product lines,
markets and industries served, and are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker (&#147;CODM&#148;). The CODM, who is responsible for allocating resources and assessing performance of
the operating segments, has been identified as the Chief Executive Officer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The profitability and financial performance of the operating
segments is measured based on Adjusted EBITDA, as it illustrates the underlying performance of continuing operations by excluding non-recurring and non-operating items. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Adjusted EBITDA is defined in NOTE 4&#151;Operating Segment Information. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>e. <U>Principles governing the preparation of the consolidated financial statements</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Basis of consolidation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">These consolidated
financial statements include all the assets, liabilities, equity, revenues, expenses and cash flows of the entities and businesses controlled by Constellium. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subsidiaries are entities over which the Group has control. The Group controls an entity when the Group has power over the investee, is
exposed to, or has rights to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subsidiaries are fully consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that
control ceases. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Investments in joint arrangements are classified as either joint ventures or joint operations depending on the
contractual rights and obligations of each investor. The Group accounts for its investments in joint ventures under the equity method. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Acquisitions </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group applies the acquisition method to account for business combinations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The consideration transferred for the acquisition of a subsidiary is the fair value of the assets transferred, the liabilities assumed and the
equity interests issued by the Group. The consideration transferred includes the fair value of any asset or liability resulting from a contingent consideration arrangement. Identifiable assets acquired and liabilities and contingent liabilities
assumed in a business combination are measured initially at their fair values at the acquisition date. The amount of non-controlling interest is determined for each business combination and is either the fair value (full goodwill method) or the
present ownership instruments&#146; proportionate share in the recognized amounts of the acquiree&#146;s identifiable net assets, resulting in recognition of only the share of goodwill attributable to equity holders of the parent (partial goodwill
method). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Goodwill is initially measured as the excess of the aggregate of the consideration transferred and the amount of non-controlling
interest over the net identifiable assets acquired and liabilities assumed. If this consideration is lower than the fair value of the net assets of the subsidiary acquired, the difference is recognized as a gain in Other gains / (losses)&#151;net in
the Consolidated Income Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On acquisition, the Group recognizes the identifiable acquired assets, liabilities and contingent
liabilities (identifiable net assets) of the subsidiaries on the basis of fair value at the acquisition date. Recognized assets and liabilities may be adjusted during a maximum of 12 months from the acquisition date, depending on new information
obtained about the facts and circumstances existing at the acquisition date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Significant assumptions used in determining allocation of
fair value include the following valuation approaches: the cost approach, the income approach and the market approach which are determined based on cash flow projections and related discount rates, industry indices, market prices regarding
replacement cost and comparable market transactions. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cash-generating units </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The reporting units (which generally correspond to an industrial site), the lowest level of the Group&#146;s internal reporting, have been
identified as its cash-generating units. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Goodwill </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Goodwill arising on a business combination is carried at cost as established at the date of the business combination less accumulated
impairment losses, if any. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Goodwill is allocated and monitored at the operating segment level which are the groups of cash-generating
units that are expected to benefit from the synergies of the combination. The operating segments represent the lowest level within the Group at which the goodwill is monitored for internal management purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On disposal of the relevant cash-generating units, the attributable amount of goodwill is included in the determination of the gain on
disposal. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Impairment of goodwill </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A
cash-generating unit or a group of cash-generating units to which goodwill is allocated is tested for impairment annually, or more frequently when there is an indication that the unit (or group of units) may be impaired. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The net carrying value of the cash-generating unit (or the group of cash-generating units) is compared to its recoverable amount, which is the
higher of the value in use and the fair value less cost to sell. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Value in use calculations use cash flow projections based on financial budgets approved by
management and covering usually a 5 year period. Cash flows beyond this period are estimated using a perpetual long-term growth rate for the subsequent years. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The value in use is the sum of discounted cash flows and the terminal residual value. Discount rates are determined using the weighted-average
cost of capital of each operating segment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any impairment loss of goodwill is recognized for the amount by which the cash-generating
unit&#146;s (or group of units) carrying amount exceeds its recoverable amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The impairment loss is allocated first to reduce the
carrying amount of any goodwill allocated to the cash-generating unit (or group of cash-generating units) and then, to the other assets of the unit (or group of units) pro rata on the basis of the carrying amount of each asset in the unit (or group
of units). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any impairment loss is recognized in Other gains / (losses)&#151;net in the Consolidated Income Statement. An impairment loss
recognized for goodwill cannot be reversed in subsequent periods. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Non-current assets (and disposal groups) classified as held for sale&nbsp;&amp;
Discontinued operations </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IFRS 5 &#147;Non-current Assets Held for Sale and Discontinued Operations&#148; defines a discontinued
operation as a component of an entity that (i)&nbsp;generates cash flows that are largely independent from cash flows generated by other components, (ii)&nbsp;is held for sale or has been sold, and (iii)&nbsp;represents a separate major line of
business or geographic areas of operations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Assets and liabilities are classified as held for sale when their carrying amount will be
recovered principally through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the non-current asset (or disposal group) is available for immediate sale in its present
condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Assets and liabilities are stated at the lower of carrying amount and fair value less costs to sell if their carrying amount
is to be recovered principally through a sale transaction rather than through continuing use. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Assets and liabilities held for sale are
reflected in separate line items in the Consolidated Statement of Financial Position of the period during which the decision to sell is made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The results of discontinued operations are shown separately in the Consolidated Income Statement. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Foreign currency transactions and foreign operations </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Functional currency </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Items included
in the consolidated financial statements of each of the entities and businesses of Constellium are measured using the currency of the primary economic environment in which each of them operates (their functional currency). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Foreign currency transactions: </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Transactions denominated in currencies other than the functional currency are converted to the functional currency at the exchange rate in
effect at the date of the transaction. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are
recognized in the income statement, except when deferred in other comprehensive income as qualifying cash flow hedges and qualifying net investment hedges. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are
presented within Finance costs&#151;net. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Foreign exchange gains and losses that relate to commercial transactions are presented in Costs
of Sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All other foreign exchange gains and losses, including those that relate to foreign currency derivatives hedging commercial
transactions, are presented within Other gains / (losses)&#151;net. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Foreign operations: presentation currency and foreign currency translation
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the preparation of the consolidated financial statements, the year-end balances of assets, liabilities and components of equity
of Constellium&#146;s entities and businesses are translated from their functional currencies into Euros, the presentation currency of the Group, at the respective year-end exchange rates; and the revenues, expenses and cash flows of
Constellium&#146;s entities and businesses are translated from their functional currencies into Euros using average exchange rates for the period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The net differences arising from exchange rate translation are recognized in the Other Comprehensive Income. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table summarizes the main exchange rates used for the preparation of the consolidated financial statements of the Group: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ROWSPAN="2" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:60.20pt; font-size:8pt; font-family:Times New Roman"><B><I>Foreign exchange<BR>rate for 1 Euro</I></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,&nbsp;2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,&nbsp;2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Closing&nbsp;rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Average&nbsp;rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Closing&nbsp;rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Average&nbsp;rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Closing&nbsp;rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Average&nbsp;rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">US Dollars</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">USD</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2141</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.3264</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.3791</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.3271</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.3220</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2847</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss Francs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">CHF</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2024</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2146</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2276</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2308</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2070</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.2051</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Czech Koruna</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">CZK</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27.7348</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27.5352</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27.4273</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.9471</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.1256</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25.1256</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Revenue recognition </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenue is measured at the fair value of the consideration received or receivable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revenue from product sales, net of trade discounts, allowances and volume-based incentives, is recognized once delivery has occurred provided
that persuasive evidence exists that all of the following criteria are met: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The significant risks and rewards of ownership of the product have been transferred to the buyer; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Neither continuing managerial involvement to the degree usually associated with ownership, nor effective control over the goods sold, has been retained by Constellium; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The amount of revenue can be measured reliably; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">It is probable that the economic benefits associated with the sale will flow to Constellium; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The costs incurred or to be incurred in respect of the sale can be measured reliably. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Group also enters into tolling agreements whereby the clients loan the metal which the Group will then manufacture for them. In these circumstances, revenue is recognized when services are provided as of the date of redelivery of the manufactured
metal. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Amounts billed to customers in respect of shipping and handling are classified as revenue where the Group is responsible for
carriage, insurance and freight. All shipping and handling costs incurred by the Group are recognized in cost of sales. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Deferred tooling revenue and related costs </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Certain automotive long term contracts include the design and manufacture of customized parts. To manufacture such parts, certain specialized
or customized tooling is required. The Group accounts for the tooling revenue and related costs provided by third party manufacturers in accordance with the provisions of IAS 11 &#147;Construction Contracts&#148;, i.e. revenue and expenses are
recognized on the basis of percentage of completion of the contract. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Research and development costs </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Research expenditures are recognized as expenses in the Consolidated Income Statement as incurred. Costs incurred on development projects are
recognized as intangible assets when the following criteria are met: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">It is technically feasible to complete the intangible asset so that it will be available for use; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Management intends to complete and use the intangible asset; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">There is an ability to use the intangible asset; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">It can be demonstrated how the intangible asset will generate probable future economic benefits; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Adequate technical, financial and other resources to complete the development and use or sell the intangible asset are available; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The expenditure attributable to the intangible asset during its development can be reliably measured. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Where development expenditures do not meet these criteria, they are recognized as expenses in the Consolidated Income Statement when incurred.
Development costs previously recognized as expenses are not recognized as an asset in a subsequent period. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Other gains / (losses)&#151;net </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other gains / (losses)&#151;net include realized and unrealized gains and losses on derivatives accounted for at fair value through profit or
loss and unrealized exchange gains and losses from the remeasurement of monetary assets and liabilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other gains / (losses)&#151;net
separately identifies other unusual, infrequent or non-recurring items. Such items are those that in management&#146;s judgment need to be disclosed by virtue of their size, nature or incidence. In determining whether an event or transaction is
specific, management considers quantitative as well as qualitative factors such as the frequency or predictability of occurrence. This is consistent with the way that financial performance is measured by management and reported to the Board of
Directors and Executive Committee and assists in providing a meaningful analysis of the trading results of the Group. The directors believe that this presentation aids the readers understanding of the Group&#146;s financial performance. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Interest income and expense </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest
income is recorded using the effective interest rate method on loans receivable and on the interest bearing components of cash and cash equivalents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest expense on short and long-term financing is recorded at the relevant rates on the various borrowing agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Borrowing costs (including interest) incurred for the construction of any qualifying asset are capitalized during the period of time that is
required to complete and prepare the asset for its intended use. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Share-based payment arrangements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Equity-settled share-based payments to employees and others providing similar services are measured at the fair value of the equity instruments
at the grant date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The fair value determined at the grant date of the equity-settled share-based payments is expensed on a straight-line
basis over the vesting period, based on the Group&#146;s estimate of equity instruments that will eventually vest, with a corresponding increase in equity. At the end of each reporting year, the Group revises its estimate of the number of equity
instruments expected to vest. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Property, plant and equipment </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Recognition and measurement </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Property, plant and equipment acquired by the Company is recorded at cost, which comprises the purchase price (including import duties and
non-refundable purchase taxes), any costs directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management and the estimated close down and restoration costs
associated with the asset. Borrowing costs directly attributable to the acquisition or construction of a Property, plant and equipment are included in the cost. Subsequent to the initial recognition, property, plant and equipment is measured at cost
less accumulated depreciation and impairment, if any. Costs are capitalized into construction work in progress until such projects are completed and the assets are available for use. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Subsequent costs </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Enhancements and
replacements are capitalized as additions to property, plant and equipment only when it is probable that future economic benefits associated with them will flow to the Company and the cost of the item can be measured with reliability. Ongoing
regular maintenance costs related to property, plant and equipment are expensed as incurred. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Depreciation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Property, plant and equipment are depreciated over the estimated useful lives of the related assets using the straight-line method as follows:
</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Buildings 10&#150;50 years; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Machinery and equipment 3&#150;40 years; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Vehicles 5&#150;8 years. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Land is not depreciated. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Impairment tests for property, plant and equipment and intangible assets </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Property, plant and equipment and intangible assets subject to depreciation and amortization are reviewed for impairment if there is any
indication that the carrying amount of the asset (or group of assets to which it belongs) may not be recoverable. The recoverable amount is based on the higher of fair value less costs to sell (market value) and value in use (determined using
estimates of discounted future net cash flows of the asset or group of assets to which it belongs). Assets that are not subject to depreciation or amortization (such as goodwill) are tested for impairment at least annually. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Financial instruments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(i) Financial assets </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Financial
assets are classified as follows: (a)&nbsp;at fair value through profit or loss, and (b)&nbsp;loans and receivables. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of
Constellium&#146;s financial assets at initial recognition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) At fair value through profit or loss: these are financial assets held for
trading. A financial asset is classified in this category if it is acquired principally for the purpose of selling in the short term. Derivatives are also categorized as held for trading except when they are designated as hedging instruments in a
hedging relationship that qualifies for hedge accounting in accordance with IAS 39. Assets in this category are classified as current assets if expected to be settled within 12 months; otherwise, they are classified as non-current. Financial assets
carried at fair value through profit or loss, are initially recognized at fair value and transaction costs are expensed in the Consolidated Income Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Loans and receivables: these are non-derivative financial assets with fixed or determinable payments that are not quoted in an active
market. They are classified as current or non-current assets based on their maturity date. Loans and receivables are comprised of trade receivables and other and non-current and current loans receivable in the Consolidated Statement of Financial
Position. Loans and receivables are carried at amortized cost using the effective interest method, less any impairment. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(ii) Financial liabilities
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Borrowings and other financial liabilities (excluding derivative liabilities) are recognized initially at fair value, net of
transaction costs incurred and directly attributable to the issuance of the liability. These financial liabilities are subsequently measured at amortized cost using the effective interest rate method. Any difference between the amounts originally
received (net of transaction costs) and the redemption value is recognized in the Consolidated Income Statement using the effective interest method. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(iii) Derivative financial instruments </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Derivatives that are classified as held for trading are initially recognized at their fair value on the date at which the derivative contract
is entered into and are subsequently remeasured to their fair value at the date of each Consolidated Statement of Financial Position, with the changes in fair value included in Other gains / (losses)&#151;net (see NOTE 8&#151;Other gains /
(losses)&#151;net). The Group has no derivatives designated for hedge accounting treatment, except for forward derivatives contracted to hedge the foreign currency risk on the estimated U.S dollar purchase price of the Wise entities (see NOTE
3&#151;Acquisition of Wise entities). These foreign currency derivatives are designated as a hedge in a cash flow hedge relationship that qualifies for hedge accounting in accordance with IAS 39. The portion of the gain or loss on the hedging
instrument that is determined to be an effective cash flow hedge is recognized in Other Comprehensive Income and the ineffective portion is recognized in Other gains / (losses)&#151;net. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(iv) Fair value </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Fair value is the
price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, relevant market prices are used to determine fair values. The Group
periodically estimates the impact of credit risk on its derivatives instruments aggregated by counterparties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Credit Value Adjustments
are calculated for asset derivatives at fair value. Debit Value Adjustments are calculated for credit derivatives at fair value. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The fair value method used is based on historical probability of default, provided by leading
rating agencies. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(v) Offsetting financial instruments </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Financial assets and liabilities are offset and the net amount reported in the Consolidated Statement of Financial Position when there is a
legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Leases </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Constellium as the lessee </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases.
Various buildings, machinery and equipment from third parties are leased under operating lease agreements. Under such operating lease agreements, the total lease payments are recognized as rent expense on a straight-line basis over the term of the
lease agreement, and are included in Cost of sales or Selling and administrative expenses, depending on the nature of the leased assets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Leases of property, plant and equipment where the Group has substantially all the risks and rewards of ownership are classified as finance
leases. Various equipment from third parties are leased under finance lease agreements. Under such finance leases, the asset financed is recognized in Property, Plant and Equipment and the financing is recognized as a financial liability. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Constellium as the lessor </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Certain
land, buildings, machinery and equipment are leased to third parties under finance lease agreements. During the period of lease inception, the net book value of the related assets is removed from property, plant and equipment and a finance lease
receivable is recorded at the lower of the fair value and the aggregate future cash payments to be received from the lessee computed at an interest rate implicit in the lease. As the finance lease receivable from the lessee is due, interest income
is recognized. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Inventories </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Inventories are valued at the lower of cost and net realizable value, primarily on a weighted-average cost basis. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Weighted-average costs for raw materials, stores, work in progress and finished goods are calculated using the costs experienced in the
current period based on normal operating capacity (and include the purchase price of materials, freight, duties and customs, the costs of production, which includes labor costs, materials and other expenses which are directly attributable to the
production process and production overheads). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trade accounts receivable </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Recognition and measurement </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Trade
accounts receivable are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less provision for impairment (if any). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Impairment </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">An impairment
allowance of trade receivables is established when there is objective evidence that the Group will not be able to collect all amounts due. Indicators of impairment would include financial difficulties of the debtor, likelihood of the debtor&#146;s
insolvency, late payments, default or a significant deterioration in creditworthiness. The amount of the provision is the difference between the assets&#146; carrying value and the present </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
value of the estimated future cash flows, discounted at the original effective interest rate. The expense (income) related to the increase (decrease) of the impairment allowance is recognized in
the Consolidated Income Statement. When a trade receivable is deemed uncollectible, it is written off against the impairment allowance account. Subsequent recoveries of amounts previously written off are credited in the Consolidated Income
Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Factoring arrangements </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In a non-recourse factoring arrangement, where the Group has transferred substantially all the risks and rewards of ownership of the
receivables, the receivables are de-recognized from the statement of financial position. Where trade accounts receivable are sold with limited recourse, and substantially all the risks and rewards associated with these receivables are retained,
receivables continue to be included in the Consolidated Statement of Financial Position. Inflows and outflows from factoring agreements in which the Group does not derecognize receivables are presented on a net basis as cash flows from financing
activities. Arrangements in which the Group derecognizes receivables result in changes in trade receivables which are reflected as cash flows from operating activities. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cash and cash equivalents </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Cash and cash
equivalents are comprised of cash in bank accounts and on hand, short-term deposits held on call with banks and other short-term highly liquid investments with original maturities of three months or less that are readily convertible into known
amounts of cash and which are subject to insignificant risk of changes in value, less bank overdrafts that are repayable on demand, provided there is a right of offset. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Share capital </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Ordinary shares are
classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Trade payables </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Trade payables are
initially recorded at fair value and classified as current liabilities if payment is due in one year or less. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Provisions </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Provisions are recorded for the best estimate of expenditures required to settle liabilities of uncertain timing or amount when management
determines that a legal or constructive obligation exists as a result of past events, it is probable that an outflow of resources will be required to settle the obligation, and such amounts can be reasonably estimated. Provisions are measured at the
present value of the expected expenditures to be required to settle the obligation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The ultimate cost to settle such liabilities is
uncertain, and cost estimates can vary in response to many factors. The settlement of these liabilities could materially differ from recorded amounts. In addition, the expected timing of expenditure can also change. As a result, there could be
significant adjustments to provisions, which could result in additional charges or recoveries affecting future financial results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Types
of liabilities for which the Group establishes provisions include: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B><I>Close down and restoration costs </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Estimated close down and restoration costs are accounted for in the year when the legal or constructive obligation arising from the related
disturbance occurs and it is probable that an outflow of resources will be </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
required to settle the obligation. These costs are based on the net present value of estimated future costs. Provisions for close down and restoration costs do not include any additional
obligations which are expected to arise from future disturbance. The costs are estimated on the basis of a closure plan including feasibility and engineering studies, are updated annually during the life of the operation to reflect known
developments (e.g. revisions to cost estimates and to the estimated lives of operations) and are subject to formal review at regular intervals each year. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The initial closure provision together with subsequent movements in the provisions for close down and restoration costs, including those
resulting from new disturbance, updated cost estimates, changes to the estimated lives of operations and revisions to discount rates are capitalized within Property, plant and equipment. These costs are then depreciated over the remaining useful
lives of the related assets. The amortization or &#147;unwinding&#148; of the discount applied in establishing the net present value of the provisions is charged to the Consolidated Income Statement as a financing cost in each accounting year. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B><I>Environmental remediation costs </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Environmental remediation costs are accounted for based on the estimated present value of the costs of the Group&#146;s environmental clean-up
obligations. Movements in the environmental clean-up provisions are presented as an operating cost within Cost of sales. Remediation procedures may commence soon after the time at which the disturbance, remediation process and estimated remediation
costs become known, and can continue for many years depending on the nature of the disturbance and the technical remediation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B><I>Restructuring costs </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Provisions for restructuring are recorded when Constellium&#146;s management is demonstrably committed to the restructuring plan and where such
liabilities can be reasonably estimated. The Group recognizes liabilities that primarily include one-time termination benefits, or severance, and contract termination costs, primarily related to equipment and facility lease obligations. These
amounts are based on the remaining amounts due under various contractual agreements, and are periodically adjusted for any anticipated or unanticipated events or changes in circumstances that would reduce or increase these obligations. These costs
are charged to restructuring costs in the Consolidated Income Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; margin-left:2%; font-size:10pt; font-family:Times New Roman"><B><I>Legal, tax and other potential claims </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Provisions for legal claims are made when it is probable that liabilities will be incurred and when such liabilities can be reasonably
estimated. For asserted claims and assessments, liabilities are recorded when an unfavorable outcome of a matter is deemed to be probable and the loss is reasonably estimable. Management determines the likelihood of an unfavorable outcome based on
many factors such as the nature of the matter, available defenses and case strategy, progress of the matter, views and opinions of legal counsel and other advisors, applicability and success of appeals, process and outcomes of similar historical
matters, amongst others. Once an unfavorable outcome is considered probable, management weights the probability of possible outcomes and the most reasonable loss is recorded. Legal matters are reviewed on a regular basis to determine if there have
been changes in management&#146;s judgment regarding the likelihood of an unfavorable outcome or the estimate of a potential loss. Depending on their nature, these costs may be charged to Cost of sales or Other gains / (losses)&#151;net in the
Consolidated Income Statement. Included in other potential claims are provisions for product warranties and guarantees to settle the net present value portion of any settlement costs for potential future legal actions, claims and other assertions
that may be brought by Constellium&#146;s customers or the end-users of products. Provisions for product warranty and guarantees are charged to Cost of sales in the Consolidated Income Statement. In the accounting year when any legal action, claim
or assertion related to product warranty or guarantee is settled, the net settlement amount incurred is charged against the provision established in the Consolidated Statement of Financial Position. The outstanding provision is reviewed periodically
for adequacy and reasonableness by Constellium management. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Management establishes tax reserves and accrues interest thereon, if deemed appropriate; in
expectation that certain tax return positions may be challenged and that the Group might not succeed in defending such positions, despite management&#146;s belief that the positions taken were fully supportable. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Pension, other post-employment healthcare plans and other long term employee benefits </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Payments to defined contribution retirement benefit plans are recognized as an expense when employees have rendered service entitling them to
the contributions. Constellium&#146;s contributions to defined contribution pension plans are charged to the Consolidated Income Statement in the year to which the contributions relate. This expense is included in Cost of sales, Selling and
administrative expenses or Research and development costs, depending on its nature. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For defined benefit plans, the retirement benefit
obligation recognized in the Consolidated Statement of Financial Position represents the present value of the defined benefit as reduced by the fair value of plan assets. The effects of changes in actuarial assumptions and experience adjustments are
charged or credited to Other comprehensive income / (loss). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The amount charged to the Consolidated Income Statement in respect of these
plans (including the service costs and the effect of any curtailment or settlement, net interest costs) is included within the income / (loss) from operations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The defined benefit obligations are assessed in accordance with the advice of qualified actuaries. The most significant assumption used in
accounting for pension plans is the discount rate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Post-employment benefit plans relate to health and life insurance benefits to retired
employees and in some cases to their beneficiaries and covered dependants. Eligibility for coverage is dependent upon certain age and service criteria. These benefit plans are unfunded and are accounted for as defined benefit obligations, as
described above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other long term employee benefits include jubilees and other long-term disability benefits. For these plans, actuarial
gains and losses arising in the year are recognized immediately in the Consolidated Income Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Taxation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The current income tax expense is calculated on the basis of the tax laws enacted or substantively enacted at the Consolidated Statement of
Financial Position date in the countries where the Company and its subsidiaries operate and generate taxable income. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group is subject
to income taxes in the Netherlands, France, and numerous other jurisdictions. Certain of Constellium&#146;s businesses may be included in consolidated tax returns within the Company. In certain circumstances, these businesses may be jointly and
severally liable with the entity filing the consolidated return, for additional taxes that may be assessed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Deferred income tax assets
and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. This approach also
requires the recognition of deferred income tax assets for operating loss carryforwards and tax credit carryforwards. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The effect on
deferred tax assets and liabilities of a change in tax rates and laws is recognized as tax income in the year when the rate change is substantively enacted. Deferred income tax assets and liabilities are measured using tax rates that are expected to
apply in the year when the asset is realized or the liability is settled, based on the tax rates and laws that have been enacted or substantively enacted at the date of the Consolidated Statement </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of Financial Position. Deferred income tax assets are recognized only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be
utilized. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Presentation of financial statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The consolidated financial statements are presented in millions of Euros. Certain reclassifications may have been made to prior year amounts to
conform to the current year presentation. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>f. <U>Judgments in applying accounting policies and key sources of estimation uncertainty</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Many of the amounts included in the consolidated financial statements involve the use of judgment and/or estimation. These judgments and
estimates are based on management&#146;s best knowledge of the relevant facts and circumstances, giving consideration to previous experience. However, actual results may differ from the amounts included in the consolidated financial statements. Key
sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year include the items presented below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Pension, other post-employment benefits and other long-term employee benefits </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The present value of the defined benefit obligations depends on a number of factors that are determined on an actuarial basis using a number of
assumptions. The assumptions used in determining the defined benefit obligations and net pension costs include the discount rate and the rate of future compensation increases. In making these estimates and assumptions, management considers advice
provided by external advisers, such as actuaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Any material changes in these assumptions could result in a significant change in
employee benefit expense recognized in the Consolidated Income Statement, actuarial gains and losses recognized in equity and prepaid and accrued benefits. Details of the key assumptions applied are set out in NOTE 21&#151;Pension liabilities and
Other Post-employment Benefit Obligations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Taxes </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Significant judgment is sometimes required in determining the accrual for income taxes as there are many transactions and calculations for
which the ultimate tax determination is uncertain during the ordinary course of business. The Group recognizes liabilities based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the
amounts that were recorded, such differences will impact the current and deferred income tax provisions, results of operations and possibly cash flows in the year in which such determination is made. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Management judgment is required to determine the extent to which deferred tax assets can be recognized. In assessing the recognition of
deferred tax assets, management considers whether it is more likely than not that the deferred tax assets will be utilized. The deferred tax assets will be ultimately utilized to the extent that sufficient taxable profits will be available in the
periods in which the temporary differences become deductible. This assessment is conducted through a detailed review of deferred tax assets by jurisdiction and takes into account the scheduled reversals of taxable and deductible temporary
differences, past, current and expected future performance deriving from the budget, the business plan and tax planning strategies. Deferred tax assets are not recognized in the jurisdictions where it is less likely than not that sufficient taxable
profits will be available against which the deductible temporary differences can be utilized. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Provisions </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Provisions have been recorded for: (a)&nbsp;close-down and restoration costs; (b)&nbsp;environmental remediation and monitoring costs;
(c)&nbsp;restructuring programs; (d)&nbsp;legal and other potential claims including provisions for product </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
income tax risks, warranty and guarantees, at amounts which represent management&#146;s best estimates of the expenditure required to settle the obligation at the date of the Consolidated
Statement of Financial Position. Expectations will be revised each year until the actual liability is settled, with any difference accounted for in the year in which the revision is made. Main assumptions used are described in NOTE
22&#151;Provisions. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Purchase Accounting </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Business combinations are recorded in accordance with IFRS 3 using the acquisition method. Under this method, upon the initial consolidation of
an entity over which the Group has acquired exclusive control, the identifiable assets acquired and the liabilities assumed are recognized at their fair value on the acquisition date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Therefore, through a number of different approaches and with the assistance of external independent valuation experts, the Group identified
what it believes is the fair value of the assets and liabilities at the acquisition date. These valuations include a number of assumptions, estimations and judgments. Quantitative and qualitative information is further disclosed in NOTE
3&#151;Acquisition of Wise Entities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Significant assumptions which were used in determining the allocation of fair value included the
following valuation approaches: the cost approach, the income approach and the market approach which were determined based on cash flow projections and related discount rates, industry indices, market prices regarding replacement cost and comparable
market transactions. While the Company believes that the estimates and assumptions underlying the valuation methodologies were reasonable, different assumptions could have resulted in different fair values. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 3&#151;ACQUISITION OF WISE ENTITIES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On October&nbsp;3, 2014, Constellium announced that it had signed a definitive agreement to acquire 100% of Wise Metals Intermediate Holdings
LLC (&#147;Wise&#148;), a private aluminium sheet producer located in Muscle Shoals, Alabama, United States of America. The closing of the acquisition took place on January&nbsp;5, 2015. The transaction is therefore not included in the Group&#146;s
consolidated financial statements as of December&nbsp;31, 2014. In accordance with IFRS 3, Constellium will recognize the assets acquired and liabilities assumed, measured at fair value at the acquisition date, in its 2015 consolidated financial
statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The cash consideration amounts to &#128;345&nbsp;million, including expected contractual price adjustments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On November&nbsp;19, 2014, Constellium contracted forward derivatives to hedge the foreign currency risk on the estimated U.S. dollar purchase
price. These derivatives have been designated within a cash-flow hedge relationship that qualifies for hedge accounting in accordance with IAS 39. As a result, the fair value of these instruments, classified in Other Comprehensive Income for
&#128;9&nbsp;million as of December&nbsp;31, 2014, reduced the purchase price by &#128;14&nbsp;million at the acquisition date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">With the
assistance of an independent expert, Constellium has performed the preliminary valuation studies necessary to estimate, on a preliminary basis, the fair values as of January&nbsp;5, 2015 of the assets acquired and liabilities assumed. These
estimated fair values are subject to change, for a maximum 12 month period from the acquisition date, based upon management&#146;s final determination of the assets acquired and liabilities assumed. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table reflects the preliminary goodwill arising as a result of the preliminary
allocation of purchase price to the Wise assets acquired and liabilities assumed as of January&nbsp;5, 2015: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Estimated<BR>fair&nbsp;value</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intangible assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">130</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Property, plant and equipment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">658</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net deferred tax assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables and other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">165</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">227</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total assets acquired</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,233</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(999</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables and other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(157</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pension and other post-employment benefit obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial liabilities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions and contingent liabilities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(55</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total liabilities assumed</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1,221</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net assets acquired at fair value</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Preliminary goodwill</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">333</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total cash consideration net of hedge impact</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>345</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The preliminary valuation has resulted in the recognition of new intangible assets: customer relationships and
technology. Property, Plant and Equipment, Inventories, Provisions and Borrowings have been remeasured at fair value. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The resulting and
preliminary goodwill amounts to &#128;333&nbsp;million and is mainly supported by the leading position in the can and growing automotive markets in North America, and by the expected synergies between Wise and other existing Constellium activities,
in particular in terms of production capacity, commercial base and purchasing, R&amp;D and manufacturing functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Had the acquisition
of Wise taken place as of January&nbsp;1, 2014, Constellium would have recognized a combined revenue of &#128;4,663&nbsp;million and a combined net income of &#128;45&nbsp;million for the year 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Acquisition costs were recognized as expenses in the line &#147;Other gains / (losses)&#151;net&#148; of the Group&#146;s consolidated income
statement (&#128;34 million as of December&nbsp;31, 2014, of which &#128;1&nbsp;million was paid in 2014). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 4&#151;OPERATING SEGMENT INFORMATION
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Management has defined Constellium&#146;s operating segments based upon product lines, markets and industries it serves, and prepares
and reports operating segment information to the Constellium chief operating decision maker (CODM) (see NOTE 2&#151;Summary of Significant Accounting Policies) on that basis. Effective January&nbsp;1, 2014, we changed the measure of profitability
for our segments under IFRS 8&#151;Operating segments from Management Adjusted EBITDA to Adjusted EBITDA. The Group&#146;s operating segments are described below. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Aerospace and Transportation (A&amp;T) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A&amp;T focuses on thick-gauge rolled high value-added products for customers in the aerospace, marine, automotive and mass-transportation
markets and engineering industries. A&amp;T operates eight facilities in three countries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Packaging and Automotive Rolled Products (P&amp;ARP) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">P&amp;ARP produces and provides thin-gauge rolled products for customers in the beverage and closures, automotive, customized industrial sheet
solutions and high-quality bright surface product markets. P&amp;ARP operates two facilities in two countries. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Automotive Structures and Industry
(AS&amp;I) </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">AS&amp;I focuses on specialty products and supplies a variety of hard and soft alloy extruded products, including
technically advanced products, to the automotive, industrial, energy, electrical and building industries, and to manufacturers of mass transport vehicles and shipbuilders. AS&amp;I operates fifteen facilities in seven countries. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Holdings&nbsp;&amp; Corporate </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Holdings&nbsp;&amp; Corporate include the net cost of Constellium&#146;s head office and corporate support functions. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Intersegment elimination </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Intersegment
trading is conducted on an arm&#146;s length basis and reflects market prices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The accounting principles used to prepare the
Company&#146;s operating segment information are the same as those used to prepare the Group&#146;s consolidated financial statements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Segment Revenue
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR></B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31, 2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Segment</B><br><B>revenue</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Inter</B><br><B>segment</B><br><B>elimination</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Revenue</B><br><B>Third</B><br><B>and</B><br><B>related</B><br><B>parties</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Segment</B><br><B>revenue</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Inter</B><br><B>segment</B><br><B>elimination</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Revenue</B><br><B>Third</B><br><B>and</B><br><B>related</B><br><B>parties</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Segment<BR>revenue</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Inter</B><br><B>segment</B><br><B>elimination</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Revenue</B><br><B>Third</B><br><B>and</B><br><B>related</B><br><B>parties</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A&amp;T</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,197</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,192</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,204</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,197</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,188</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">P&amp;ARP</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,576</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,568</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,480</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,472</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,561</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,554</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">AS&amp;I</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">921</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">875</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">859</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(54</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">805</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">910</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(49</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">861</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holdings&nbsp;&amp;&nbsp;Corporate(A)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,725</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(59</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,666</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,564</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(69</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,672</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(62</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,610</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Includes revenue from metal supply to plants in Ham and Saint Florentin which are considered as third parties since their disposal in the second quarter of 2013. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Reconciliation of Adjusted EBITDA to Net Income </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A&amp;T</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">120</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">P&amp;ARP</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">118</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">AS&amp;I</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holdings&nbsp;&amp; Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(21</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Adjusted EBITDA</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>275</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>280</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>223</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Metal price lag(A)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Wise acquisition costs(B)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">3</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(34</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Start-up and development costs(C)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Gains on Ravenswood OPEB plan amendments</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8,&nbsp;21</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax contractual reimbursements</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood CBA renegociation</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss pension plan settlements</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Apollo management fees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share equity plans</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">32</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(25</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Losses on disposal</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8,&nbsp;23</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized (losses) / gains on derivatives</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(53</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized exchange gains / (loss) from the remeasurement of monetary assets and liabilities&#151;net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation and impairment</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">6</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(49</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(32</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income from operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>150</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>209</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>263</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs&#151;net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">10</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(58</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(50</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(60</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of (loss) / profit of joint-ventures</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income before income tax</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>91</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>135</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">11,&nbsp;23</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income from continuing operations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>96</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>149</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income / (loss) from discontinued operations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net Income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Represents the financial impact of the timing difference between when aluminium prices included within Constellium revenues are established and when aluminium purchase prices included in cost of sales are established.
The Group accounts for inventory using a weighted average price basis. This adjustment is to remove the effect of volatility in LME prices. The calculation of the Group metal price lag adjustment is based on an internal standardized methodology
calculated at each of Constellium manufacturing sites. It is calculated as the average value of product recorded in inventory, which approximates the spot price in the market, less the average value transferred out of inventory, which is the
weighted average of the metal element of cost of goods sold, by the quantity sold in the period. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">On January&nbsp;5, 2015 Constellium acquired Wise Metals Intermediate Holdings LLC (refer to NOTE 3&#151;Acquisition of Wise entities). As of December&nbsp;31, 2014 costs relating to the acquisition amounted to
&#128;34&nbsp;million (&#128;17 million of transaction fees and &#128;17&nbsp;million related to the financing of the acquisition). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">Start-up costs relating to new sites and business development initiatives of which &#128;6&nbsp;million related to the expansion of the site in Van Buren, U.S, and &#128;5&nbsp;million related to Body in White growth
project both in Europe and the U.S. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Entity-wide information about product and services </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Aerospace rolled products</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">667</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">655</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">584</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transportation, Industry and other rolled products</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">525</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">542</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">598</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Packaging rolled products</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,160</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,138</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,196</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Automotive rolled products</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">225</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">162</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">144</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Specialty and other thin-rolled products</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">183</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">172</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">214</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Automotive extruded products</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">413</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">334</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">355</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other extruded products</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">462</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">471</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">506</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total revenue</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,666</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,610</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Segment capital expenditure </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A&amp;T</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(71</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(53</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(42</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">P&amp;ARP</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(74</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(37</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(39</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">AS&amp;I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(48</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(49</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(40</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holdings &amp; Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Capital expenditure</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(199</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(144</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(126</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Segment assets </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Segment assets are comprised of total assets of Constellium by segment, less investments in joint-ventures, deferred tax assets, other
financial assets (including cash and cash equivalents) and assets of the disposal group classified as held for sale. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">A&amp;T</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">697</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">551</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">P&amp;ARP</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">390</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">373</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">AS&amp;I</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">333</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">267</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holdings&nbsp;&amp; Corporate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">288</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Segment Assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,708</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,300</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unallocated:</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adjustments for investments in joint-ventures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income tax assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">190</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial assets (including cash and cash equivalents)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,079</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">265</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assets of disposal group classified as held for sale</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,012</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,764</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Information about major customers </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Included in revenue arising from the P&amp;ARP segment for the year ended December&nbsp;31, 2014, is revenue of approximately
&#128;406&nbsp;million (year ended December&nbsp;31, 2013: &#128;378 million; year ended December&nbsp;31, 2012: &#128;441&nbsp;million) which arose from sales to the Group&#146;s largest customer. No other single customers contributed 10% or more
to the Group&#146;s revenue for 2014, 2013 and 2012. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 5&#151;INFORMATION BY GEOGRAPHIC AREA </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group reports information by geographic area as follows: revenues from third and related parties are based on destination of shipments and
property, plant and equipment are based on the physical location of the assets. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Revenue&#150;third and related parties</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">France</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">533</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">535</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">596</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Germany</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,035</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">961</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,073</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">United Kingdom</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">336</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">346</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">275</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Switzerland</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Europe</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">755</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">742</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">723</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">United States</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">524</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">448</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">471</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Canada</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Asia and Other Pacific</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">174</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">142</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">All Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">173</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">182</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,666</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,495</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3,610</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Property, plant and equipment</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">France</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">290</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">180</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Germany</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Switzerland</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Czech Republic</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Europe</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">United States</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">179</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">All Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>632</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>408</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 6&#151;EXPENSES BY NATURE </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Raw materials and consumables used(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,952</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,860</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,987</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Employee benefit expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(708</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(670</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(701</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Energy costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(149</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(150</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(140</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repairs and maintenance expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(88</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(80</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(91</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sub-contractors</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(78</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(80</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(66</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Freight out costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(80</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(75</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(66</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consulting and audit fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(40</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(50</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(43</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating supplies (non capitalized purchases of manufacturing consumables)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(64</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(63</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(58</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Operating lease expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation and impairment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(49</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(32</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(193</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(194</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(202</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Cost of sales, Selling and administrative expenses and Research and development expenses</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3,421</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3,270</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3,384</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">The Company manages fluctuations in raw materials prices in order to protect manufacturing margins through the purchase of derivative instruments (see NOTE 24&#151;Financial Risk Management and
NOTE&nbsp;25&#151;Financial Instruments). </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">These expenses are split as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,183</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,024</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3,136</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(200</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(210</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(212</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Research and development expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Cost of sales, Selling and administrative expenses and Research and development expenses</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3,421</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3,270</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3,384</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 7&#151;EMPLOYEE BENEFIT EXPENSES </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Wages and salaries(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(661</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(628</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(653</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pension costs&#151;defined benefit plans</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(26</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other post-employment benefits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share equity plan expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Employee benefit expenses</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(708</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(670</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(701</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Wages and salaries exclude restructuring costs and include social security contributions. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 8&#151;OTHER GAINS / (LOSSES)&#151;NET </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized losses on derivatives</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized (losses) / gains on derivatives at fair value through Profit and Loss&#151;net(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(53</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized exchange gains / (losses) from the remeasurement of monetary assets and liabilities&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss pension plan settlements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood OPEB pension plan amendments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ravenswood CBA renegotiation(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax contractual reimbursements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Losses on disposal(C)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Wise acquisition costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(34</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Other (losses) / gains&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(83</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>62</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">The gains or losses are made up of unrealized losses or gains on derivatives entered into with the purpose of mitigating exposure to volatility in foreign currency and LME prices (refer to NOTE 24&#151;Financial Risk
Management for a description of the Group&#146;s risk management). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">In 2012, Constellium Ravenswood Rolled Products entered into a period of renegotiation of the Collective bargaining agreement (&#147;CBA&#148;). The negotiation and the settlement of the new CBA involved additional
costs which would not be incurred in the ordinary course of business. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">On October&nbsp;27, 2014, the Group sold its plant in Tarascon sur Ari&egrave;ge, France and incurred a &#128;7&nbsp;million loss. The plant generated revenues of &#128;9&nbsp;million in 2014 (&#128;12 million in 2013).
In September 2014, the plant in Sierre, Switzerland disposed fixed assets and generated gains on disposal for &#128;2 million. In 2013, the sale of the Group&#146;s plants in Ham and Saint Florentin, France, was completed. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 9&#151;CURRENCY GAINS / (LOSSES) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The currency gains and losses are included in the consolidated financial statements as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Consolidated income statement </I></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Included in Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Included in Other (losses) / gains&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(52</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Included in Finance costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(21</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(39</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>23</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized exchange losses on foreign currency derivatives&#151;net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized exchange (losses) / gains on foreign currency derivatives&#151;net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange (losses) / gains from the remeasurement of monetary assets and liabilities&#151;net</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(39</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>23</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><I>Foreign currency translation reserve </I></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Foreign currency translation reserve&#151;January&nbsp;1</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of exchange rate changes&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Foreign&nbsp;currency&nbsp;translation&nbsp;reserve&#151;<BR>December&nbsp;31</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">See NOTE 24&#151;Financial Risk Management and NOTE 25&#151;Financial Instruments for further information
regarding the Company&#146;s foreign currency derivatives and hedging activities. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 10&#151;FINANCE COSTS&#151;NET </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Finance income:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized and unrealized gains on debt derivatives at fair value(D)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">9</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized and unrealized exchange gains on financing activities&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">9</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other finance income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Finance income</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Finance costs:</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense on borrowings(A)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">19</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(32</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(22</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense on factoring arrangements(B)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">16</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exit fees and unamortized arrangement fees(C)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">19</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(21</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized and unrealized losses on debt derivatives at fair value(D)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">9</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized and unrealized exchange losses on financing activities&#151;net(D)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">9</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other finance expense</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Finance costs</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(88</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(67</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(64</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:7.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Finance costs&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(58</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(50</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Includes at December&nbsp;31, 2014: (i)&nbsp;&#128;24&nbsp;million of interests expensed during the year related to the 2013 term loan and to the Senior Notes for respectively &#128;7&nbsp;million and &#128;17 million;
and &#128;6&nbsp;million of interests accrued related to the Senior Notes; (ii)&nbsp;&#128;2 million of interest expenses related to the U.S. Revolving Credit Facility. </TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Includes at December&nbsp;31, 2013: (i)&nbsp;&#128;3&nbsp;million of interests expensed during the year related to the 2012 term loan and
&#128;17&nbsp;million of interests accrued during the year related to the 2013 term loan; (ii)&nbsp;&#128;2&nbsp;million of interest expenses related to the U.S. Revolving Credit Facility. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Includes at December&nbsp;31, 2012: (i)&nbsp;&#128;6&nbsp;million of interests expensed during
the year related to the 2011 term loan and &#128;9&nbsp;million of interests expensed during the year related to the 2012 term loan; (ii)&nbsp;&#128;2&nbsp;million of interest expenses related to the U.S. Revolving Credit Facility. </P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">Includes interests and amortization of deferred financing costs related to trade accounts receivable factoring programs (see NOTE 16&#151;Trade Receivables and Other). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">During the second quarter of 2014, Constellium issued Senior Notes and repaid the 2013 term loan. Arrangement fees of the 2013 term loan which were not amortized under the effective rate method, and exit fees, were
fully recognized as financial expenses during this period. As of December&nbsp;31, 2014, exit and arrangement fees amounted respectively to &#128;6&nbsp;million and &#128;9&nbsp;million. </TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">During the first quarter of 2013, Constellium issued the 2013 term loan facility and repaid the 2012 term loan. Arrangement fees of the 2012
term loan which were not amortized under the effective rate method, and exit fees, were fully recognized as financial expenses during this period. As of December&nbsp;31, 2013, exit and arrangement fees amounted respectively to &#128;8&nbsp;million
and &#128;13&nbsp;million. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">During the second quarter of 2012, Constellium issued the 2012 term loan facility and repaid the 2011 term
loan. Arrangement fees of the 2011 term loan which were not amortized under the effective rate method, and exit fees, were fully recognized as financial expenses during this period. As of December&nbsp;31, 2012, exit and arrangement fees amounted
respectively to &#128;5&nbsp;million and &#128;2&nbsp;million. </P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(D)</TD>
<TD ALIGN="left" VALIGN="top">During the second quarter of 2014, the cross currency swap was settled when the 2013 term loan was repaid. The resulting realized loss offset the realized gain on the settled U.S. dollar 2013 Term Loan.
</TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In addition, the Group hedged the dollar exposure relating to the principal of the U.S.&nbsp;Dollar Senior Notes. The
principal of the U.S.&nbsp;Dollar Senior Notes is hedged by using floating-floating cross currency basis swaps indexed on floating Euro and U.S.&nbsp;Dollar interest rates. Changes in the fair value of hedges related to this translation exposure
were recognized within finance income in the consolidated income statement and offset the unrealized losses related to U.S.&nbsp;Dollar Senior Notes revaluation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 11&#151;INCOME TAX </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The current and
deferred components of income tax are as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current tax expense</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(34</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(30</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred tax expense</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total income tax expense</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(39</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(46</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Using a composite statutory income tax rate applicable by tax jurisdiction, the income tax can be
reconciled as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income before income tax</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>91</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>135</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Composite statutory income tax rate applicable by tax jurisdiction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36.0</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38.6</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income tax expense calculated at composite statutory tax rate applicable by tax jurisdiction</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(48</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(75</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax effect of:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changes in recognized and unrecognized deferred tax assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other(A)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Income tax expense</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(37</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(39</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(46</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Effective income tax rate</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>41</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Including non-deductible items and certain contractual reimbursements. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our composite
statutory income tax rate of 31.0% in the year ended December&nbsp;31, 2014, 36.0% in the year ended December&nbsp;31, 2013 and of 38.6% in the year ended December&nbsp;31, 2012 resulted from the statutory tax rates (i)&nbsp;in France of 38.0% in
2014 and in 2013 and 36.1% in 2012, (ii)&nbsp;in the United States of 43% in 2014, 40.1% in 2013 and 41.2% in 2012, (iii)&nbsp;in Germany of 29% in 2014, in 2013 and in 2012, (iv)&nbsp;in the Netherlands of 25% in 2014, in 2013 and in 2012 and
(v)&nbsp;in Czech Republic of 19% in 2014, in 2013 and in 2012. The 5.0% decrease in our composite tax rate from 2013 to 2014 and the 2.6% decrease in our composite tax rate from 2012 to 2013 resulted from a lower weight of profits in higher tax
rate jurisdictions most notably France and in the United States combined with a higher weight of profits in lower tax rate jurisdictions most notably in Czech Republic in 2014. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 12&#151;EARNINGS PER SHARE </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Earnings </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="61%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Earnings used to calculate basic and diluted earnings per share from continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">147</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Earnings used to calculate basic and diluted earnings per share from discontinued operations</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Earnings attributable to equity holders of the parent used to calculate basic and diluted earnings per share</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>51</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>98</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>139</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Number of shares&#151;</B>see NOTE 18&#151;Share Capital<B> </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="59%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Weighted average number of ordinary shares used to calculate basic earnings per share(A)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104,639,342</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98,219,458</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89,442,416</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of other dilutive potential ordinary shares(B)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">687,530</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">671,487</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Weighted average number of ordinary shares used to calculate diluted earnings per share</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>105,326,872</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>98,890,945</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>89,442,416</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Based on the total number of all classes of shares (former &#147;A&#148;, &#147;B1&#148; and &#147;B2&#148;) until the IPO on May&nbsp;22, 2013, and on the total number of Class&nbsp;A ordinary shares from the IPO (See
NOTE 18&#151;Share Capital). Prior to the IPO, the Class B ordinary shares were included in the basic and diluted earnings per share calculation as the Class&nbsp;A and Class B ordinary shares had equal rights to profit allocation and dividends and
Class B ordinary shares, once issued, could not be repurchased nor cancelled by the Company without the consent of the holder. In connection with our IPO, the Management Equity Plan (&#147;MEP&#148;) was frozen so that there could be no additional
issuances or reallocations thereunder of Class B ordinary shares among MEP participants. In addition, from the date of the IPO, at the request of the MEP participants and in certain circumstances, the Company was committed to repurchase these
shares, and may subsequently cancel them (including the related accumulated rights to profit). Accordingly, from the IPO date, Class B ordinary shares have been excluded from the calculation of the weighted average number of ordinary shares used to
calculate the basic earnings per share. As Class B ordinary shares are ultimately converted into Class&nbsp;A ordinary shares when the Company does not have to repurchase them, they are included in the calculation of the weighted average number of
ordinary shares used to calculate the diluted earnings per share. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">Includes B shares as they give rights to profit allocation and dividends and potential new ordinary shares to be issued as part of the Co-investment plan, the Equity award plan, the Free Share and the Shareholding
Retention Program. (See NOTE 32&#151;Share Equity Plan). All potential dilutive new ordinary shares were taken into account into the diluted earnings per share. There were no instrument excluded from the computation of diluted earnings per share
because their effect was antidilutive. </TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Earnings per share attributable to the equity holders of the company </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>From continuing and discontinued operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>From continuing operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>From discontinued operations</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Basic</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.09</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Diluted</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.04</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(0.09</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 13&#151;INTANGIBLE ASSETS (including</B> <B>GOODWILL</B>)<B> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Goodwill in the amount of &#128;11&nbsp;million (relating solely to the acquisition of the entities and business of Rio Tinto Engineered
Aluminium Products on January&nbsp;4, 2011) has been allocated to the Group&#146;s operating segment Aerospace and Transportation (&#147;A&amp;T&#148;) &#128;5&nbsp;million, Packaging and Automotive Rolled Products (&#147;P&amp;ARP&#148;)
&#128;4&nbsp;million and Automotive Structures and Industry (&#147;AS&amp;I&#148;) &#128;2 million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the years ended
December&nbsp;31, 2014 and 2013, no other material movements occurred in intangible assets, including goodwill. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Impairment tests for goodwill </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, 2013 and 2012, the recoverable amount of the operating segments has been determined based on value-in-use
calculations and significantly exceeded their carrying value. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 14&#151;PROPERTY, PLANT AND EQUIPMENT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Property, plant and equipment balances and movements are comprised as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Land&nbsp;and<BR>Property<BR>Rights</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Buildings</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Machinery<BR>and<BR>Equipment</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Construction<BR>Work in<BR>Progress</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net balance at January&nbsp;1, 2014</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>252</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>119</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>408</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">208</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">254</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disposals</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation expense</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(42</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Impairment losses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer during the year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(147</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange rate movements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net balance at December&nbsp;31, 2014</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>61</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>383</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>183</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>632</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>At December&nbsp;31, 2014</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">459</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">183</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">722</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less accumulated depreciation and impairment</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(76</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(90</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net balance at December&nbsp;31, 2014</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>61</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>383</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>183</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>632</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net balance at January&nbsp;1, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>20</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>154</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>115</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>302</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">156</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disposals</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation expense</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(24</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer during the year</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(108</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reclassified as Assets held for sale</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange rate movements</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net balance at December&nbsp;31, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>252</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>119</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>408</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>At December&nbsp;31, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">287</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">453</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less accumulated depreciation and impairment</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(35</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(45</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net balance at December&nbsp;31, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>252</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>119</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>408</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Building, machinery and equipment includes the following amounts where the Group is a lessee
under a finance lease: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Gross&nbsp;value</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Accumulated<BR>depreciation</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Net</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Gross&nbsp;value</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Accumulated<BR>depreciation</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Net</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Buildings under finance lease</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Machinery and equipment under Finance lease</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In 2014, the Group contracted two finance leases under a sale-leaseback transaction in Constellium Automotive
USA, LLC, in order to finance specific equipment in Novi and the expansion of Van Buren buildings for respectively &#128;10&nbsp;million and &#128;16 million. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The future aggregate minimum lease payments under non-cancellable finance leases are as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less than 1 year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1 to 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">More than 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>40</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The present value (&#147;PV&#148;) of future aggregate minimum lease payments under non-cancellable finance
leases are as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less than 1 year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1 to 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">More than 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Depreciation expense and impairment losses </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Total depreciation expense and impairment losses relating to property, plant and equipment are included in the Consolidated Income Statement as
follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="54%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cost of sales</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(42</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selling and administrative expenses</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(47</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The amount of contractual commitments for the acquisition of property, plant and equipment is disclosed in
NOTE&nbsp;28&#151;Commitments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 15&#151;INVENTORIES </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Inventories are comprised of the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finished goods</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Work in progress</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">164</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">136</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Raw materials</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Stores and supplies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net realizable value adjustment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total inventories</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>432</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>328</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium records inventories at the lower of cost and net realizable value. Increases / (decreases) in the
net realizable value adjustment on inventories are included in Cost of sales in the Consolidated Income Statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 16&#151;TRADE RECEIVABLES AND
OTHER </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Trade receivables and other are comprised of the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="57%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables&#151;third parties&#151;gross</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">434</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">365</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Impairment allowance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Trade receivables&#151;third parties&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>431</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>362</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables&#151;related parties</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Trade receivables&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>431</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>363</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance lease receivables</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred financing costs&#151;net of amounts amortized</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred tooling related costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current income tax receivables</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other taxes</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restricted cash(A)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Other receivables</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>137</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>120</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Trade receivables and Other</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>568</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>483</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Relating to a pledge given to the State of West Virginia as a guarantee for certain workers&#146; compensation obligations for which the company is self-insured. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Aging </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The aging of total trade receivables-net is as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">415</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">345</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1&#150;30 days past due</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">31&#150;60 days past due</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">61&#150;90 days past due</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Greater than 91 days past due</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Trade receivables&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>431</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>363</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Impairment allowance </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group periodically reviews its customers&#146; account aging, credit worthiness, payment histories and balance trends in order to evaluate
trade accounts receivable for impairment. Management also considers whether changes in general economic conditions and in the industries in which the Group operates in particular, are likely to impact the ability of the Group&#146;s customers to
remain within agreed payment terms or to pay their account balances in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Revisions to the impairment allowance arising from changes
in estimates are included as either additional allowance or recoveries, with the corresponding expense or income included in Selling and administrative expenses. An impairment allowance amounting to &#128;0.5&nbsp;million was recognized during the
year ended December&nbsp;31, 2014 (&#128;0.1&nbsp;million during the year ended December&nbsp;31, 2013). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">None of the other amounts
included in Other receivables was deemed to be impaired. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The maximum exposure to credit risk at the reporting date is the carrying value
of each class of receivable shown above. The Group does not hold any collateral from its customers or debtors as security. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Currency concentration
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The composition of the carrying amounts of total Trade receivables&#151;net by currency is shown in Euro equivalents as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Euro</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">207</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">188</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">U.S. Dollar</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">199</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">155</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss Franc</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other currencies</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Trade receivables&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>431</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>363</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Factoring arrangements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group entered into factoring arrangements with third parties for the sale of certain of the Group&#146;s accounts receivable in Germany,
Switzerland and France. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under these programs, Constellium agrees to sell to the factor eligible accounts receivable, for
working capital purposes, up to a maximum financing amount of &#128;350&nbsp;million, allocated as follows: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#128;115&nbsp;million collectively available to Germany and Switzerland; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#128;235&nbsp;million available to France. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under these arrangements, most of accounts
receivable are sold with recourse. Sales of most of these receivables do not qualify for derecognition under IAS 39 &#147;Financial Instruments: Recognition and Measurement&#148;, as the Group retains substantially all of the associated risks and
rewards. Where the Group has transferred substantially all the risks and rewards of ownership of the receivable, the receivables are derecognized from the statement of financial position. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the agreements, as of December&nbsp;31, 2014, the total carrying amount of the original assets factored is &#128;323&nbsp;million
(December 31, 2013: &#128;259 million) of which: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#128;229&nbsp;million (December 31, 2013: &#128;207 million) recognized on the Consolidated Statement of Financial Position; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">&#128;94&nbsp;million (December 31, 2013: &#128;52 million) derecognized from the Consolidated Statement of Financial Position as the Group transferred substantially all of the associated risks and rewards to the
factor. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As at December&nbsp;31, 2014 and December&nbsp;31, 2013, there was no amount due to the factor relating to trade
account receivables sold. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Interest costs and other fees </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under both the Germany/Switzerland and France factoring agreements, interest is charged at the three-month EURIBOR (Euro Interbank Offered
Rate) or LIBOR (London Interbank Offered Rate) rate plus 1.95% from November&nbsp;8, 2013, (previously 2.25%) and is payable monthly. Other fees include an unused facility fee of 1%&nbsp;per annum (calculated based on the unused amount of the net
position, as defined in the agreements). Additional factoring commissions and administration fees (based on the volume of sold receivables) are also assessed and payable monthly. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the year ended December&nbsp;31, 2014, Constellium incurred &#128;9&nbsp;million in interest and other fees (&#128;10&nbsp;million
during the year ended December&nbsp;31, 2013) from these arrangements that are included as finance costs (see NOTE&nbsp;10&#151;Finance Costs&#151;Net). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Additionally, under each of the factoring agreements, the Group paid a one-time, up-front arrangement fee of 2.25% of the initial aggregate
maximum financing amount of &#128;300&nbsp;million (for both agreements), which totaled &#128;7 million. These arrangement fees plus an additional &#128;7&nbsp;million in legal and other fees related to the factoring agreements are being amortized
as finance costs over a period of five years (see NOTE 10&#151;Finance Costs&#151;Net). During the year ended December&nbsp;31, 2014, &#128;2&nbsp;million of such costs was amortized as finance costs (&#128;3 million during the years ended
December&nbsp;31, 2013, and December&nbsp;31, 2012). At December&nbsp;31, 2014, the Group had &#128;3&nbsp;million (&#128;5 million as at December&nbsp;31, 2013, and &#128;8&nbsp;million as at December&nbsp;31, 2012) in unamortized up-front and
legal fees related to the factoring arrangements (included in deferred financing costs). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Covenants </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The factoring arrangements contain certain affirmative and negative covenants, including relating to the administration and collection of the
assigned receivables, the terms of the invoices and the exchange of information, but do not contain restrictive financial covenants other than a Group level minimum liquidity </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
covenant that is tested quarterly. The Group was in compliance with all applicable covenants as of and for the years ended December&nbsp;31, 2014 and 2013. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Intercreditor agreement </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
January&nbsp;4, 2011, the Group entered into an Intercreditor Agreement between the French, German and Swiss sellers of the Group&#146;s receivables under the various accounts receivable factoring programs described above and the purchasers of those
receivables. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with the requirements of the Intercreditor Agreement, the parent company of the sellers has guaranteed amounts
sold under the factoring program to the purchasers of such accounts receivable with recourse. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Intercreditor Agreement remains in
effect for any seller of receivables until all of the factoring agreements for such seller are terminated. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Deferred financing costs </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group incurs certain financing costs with third parties associated with its factoring arrangements and U.S. Revolving Credit facility.
Amortization of these deferred finance costs is included in Finance costs&#151;net in the Consolidated Income Statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Costs incurred
and amortization recognized throughout the periods presented are shown in the table below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="42%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31,</B><br><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31,</B><br><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31,</B><br><B>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Factoring<BR>Arrange-<BR>ments</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>U.S.<BR>Revolving<BR>Credit<BR>Facility</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Factoring<BR>Arrange-<BR>ments</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>U.S.<BR>Revolving<BR>Credit<BR>Facility</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Factoring<BR>Arrange-<BR>ments</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>U.S.<BR>Revolving<BR>Credit<BR>Facility</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Financing costs incurred and deferred</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Up-front facility arrangement fees</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other direct expenses</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total incurred and deferred</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>22</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less: amounts amortized during the year</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2014</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2013</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2012</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2011</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Deferred financing costs at December&nbsp;31</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Finance lease receivables </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company is the lessor on certain finance leases with third parties for certain of its property, plant and equipment located in Sierre,
Switzerland and up to June 2013 in Teningen, Germany. The following table shows </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the reconciliation of the Group&#146;s gross investments in the leases to the net investment in the leases as at December&nbsp;31, 2012, 2013 and 2014. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="32%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31, 2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Gross<BR>investment<BR>in&nbsp;the&nbsp;lease</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Unearned<BR>interest<BR>income</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Net<BR>investment<BR>in&nbsp;the&nbsp;lease</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Gross<BR>investment<BR>in&nbsp;the&nbsp;lease</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Unearned<BR>interest<BR>income</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Net<BR>investment<BR>in&nbsp;the&nbsp;lease</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Gross<BR>investment<BR>in&nbsp;the&nbsp;lease</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Unearned<BR>interest<BR>income</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Net<BR>investment<BR>in&nbsp;the&nbsp;lease</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Within 1 year</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Between 1 and 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>22</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>20</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Later than 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Finance lease receivables</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>29</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>34</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>47</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>42</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest received in the year ended December&nbsp;31, 2014, totaled &#128;1&nbsp;million (&#128;1 million for
the year ended December&nbsp;31, 2013, and &#128;2&nbsp;million for the year ended December&nbsp;31, 2012). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 17&#151;CASH AND CASH EQUIVALENTS
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash in bank and on hand</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">168</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">232</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">821</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Cash and cash equivalents</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>989</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>233</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As at December&nbsp;31, 2014, cash in bank and on hand includes a total of &#128;8&nbsp;million held by
subsidiaries that operate in countries where capital control restrictions prevent the balances from being available for general use by the Group (&#128;6 million as at December&nbsp;31, 2013). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As at December&nbsp;31, 2014, deposits include proceeds drawn under the Senior Notes issued in December 2014, to be used for the acquisition
of Wise entities (See Note 3&#151;Acquisition of Wise entities) and Body In White growth projects. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 18&#151;SHARE CAPITAL </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As at December&nbsp;31, 2014, authorized share capital consists of 398,500,000 Class&nbsp;A ordinary shares and 1,500,000 Class B ordinary
shares. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><I>Number of shares</I></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B><I>In&nbsp;millions&nbsp;of&nbsp;Euros</I></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#147;A&#148;</B><br><B>Shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>&#147;B&#148;</B><br><B>Shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Preference<BR>Shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Share<BR>Capital</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Share<BR>Premium</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As of January&nbsp;1, 2014</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>104,076,718</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>950,337</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>162</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shares converted</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">842,228</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(842,228</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Shares cancelled</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As of December&nbsp;31, 2014</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>104,918,946</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>108,109</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>162</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">According to Dutch law and the articles of association of Constellium N.V., the following
characterizations, rights and obligations are attached to the shares: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Constellium N.V. shares are divided in two classes: A shares and B shares; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Class&nbsp;A ordinary shares can be held by anyone approved by the general meeting of shareholders; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Class B ordinary shares can only be held by (i)&nbsp;German limited partnerships which have entered into an agreement pursuant to a management equity plan, or (ii)&nbsp;the Company itself. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">All of the Company&#146;s shares have a stated nominal value of &#128;0.02&nbsp;per share. All shares attract one vote and none are subject to any vesting restrictions. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Class&nbsp;A ordinary shares and Class B ordinary shares are entitled to an equal profit allocation. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">At the applicable MEP interest vesting date (the vesting conditions being summarized in NOTE 32&#151;Share Equity Plan), the related Class B ordinary shares are thereby converted into Class&nbsp;A ordinary shares. There
are no other circumstances whereby Class B ordinary shares might be converted into Class&nbsp;A ordinary shares. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
May&nbsp;16, 2013, the Group issued preference shares to existing shareholders and repurchased them for no consideration after dividend payment. All the preference shares were cancelled in August 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During 2014, 842,228 Class B ordinary shares were converted to Class&nbsp;A ordinary shares, of which 749,417 related to Management Equity
Plan accelerated vesting implemented during the second quarter of 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On July&nbsp;8, 2014, Constellium N.V. repurchased the 108,109
Class B shares from Omega Management Gmbh&nbsp;&amp; Co K.G, which may be subsequently cancelled. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Class &#147;A&#148; and<BR>&#147;B&#148; Shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>%</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Class &#147;A&#148; and<BR>&#147;B&#148; Shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>%</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Free Float</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89,396,158</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85.12</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50,526,761</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48.11</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Apollo Funds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37,561,475</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35.76</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bpifrance</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,846,969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.23</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12,846,969</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12.23</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2,783,928</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.65</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4,091,850</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.90</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>105,027,055</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100.00</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>105,027,055</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>100.00</B></TD>
<TD NOWRAP VALIGN="bottom"><B>%&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Of which 108,109 B shares held by Constellium N.V. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 19&#151;&nbsp;&nbsp;BORROWINGS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>19.1. Analysis by nature </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="43%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Amount</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Type of<BR>rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Nominal<BR>rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Effective<BR>rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Amount</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Type of<BR>rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Spread</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Effective<BR>rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>2013 Term Loan Facility</B><B>(A)</B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In U.S.&nbsp;Dollar</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">252</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Floating</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.48</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In Euro</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Floating</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.33</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I>Constellium N.V. and Constellium France SAS</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Senior Notes</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In U.S.&nbsp;Dollar (due&nbsp;2024)(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">326</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Fixed</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6.26</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In Euro (due 2021)(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">296</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Fixed</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.63</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.16</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In U.S.&nbsp;Dollar (due&nbsp;2023)(C)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">324</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Fixed</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8.61</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In Euro (due 2023)(C)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">236</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Fixed</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7.54</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I>Constellium N.V.</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>U.S. Revolving Credit Facility</B><B>(D)</B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In U.S.&nbsp;Dollar</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Floating</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.54</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">Floating</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.03</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I>Constellium Rolled Products Ravenswood, LLC</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Unsecured Credit Facility</B><B>(E)</B><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I>Constellium N.V.</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Others</B><B>(F)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Borrowings</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,252</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">348</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Of which:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I>Non-current</I></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><I>&nbsp;</I></TD>
<TD VALIGN="bottom" ALIGN="right"><I>1,205</I></TD>
<TD NOWRAP VALIGN="bottom"><I>&nbsp;&nbsp;</I></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><I>&nbsp;</I></TD>
<TD VALIGN="bottom" ALIGN="right"><I>326</I></TD>
<TD NOWRAP VALIGN="bottom"><I>&nbsp;&nbsp;</I></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:4.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><I>Current</I></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><I>&nbsp;</I></TD>
<TD VALIGN="bottom" ALIGN="right"><I>47</I></TD>
<TD NOWRAP VALIGN="bottom"><I>&nbsp;&nbsp;</I></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><I>&nbsp;</I></TD>
<TD VALIGN="bottom" ALIGN="right"><I>22</I></TD>
<TD NOWRAP VALIGN="bottom"><I>&nbsp;&nbsp;</I></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Represents amounts drawn under the previous term loan facility. On March&nbsp;25, 2013, Constellium N.V. entered into a $210 million (equivalent to &#128;152&nbsp;million at the year-end exchange rate) and
&#128;45&nbsp;million seven-year floating rate term loan facility. The proceeds were primarily used to repay the previous variable rate term loan facility entered into on May&nbsp;25, 2012, which was therefore terminated. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">At the same date, Constellium France entered into a $150 million (equivalent to &#128;109&nbsp;million at the year-end exchange rate) and &#128;30&nbsp;million seven-year floating rate term loan facility.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The 2013 term loan was guaranteed by certain of the Group subsidiaries and includes negative, affirmative and financial covenants. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">Represents amounts drawn under the &#147;Senior Notes&#148;. On May&nbsp;7, 2014, Constellium N.V. issued a $400&nbsp;million Senior Notes due 2024 (the &#147;U.S. Dollar Notes&#148; equivalent to &#128;330&nbsp;million
at the year-end exchange rate excluding arrangement fees and accrued interests) and a &#128;300&nbsp;million Senior Notes due 2021 (the &#147;Euro Notes&#148;) offering. The proceeds were primarily used to repay the 2013 term loan which was
therefore terminated. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, amounts under the Senior Notes are net of arrangement fees related to the issuance of the notes totaling &#128;12&nbsp;million (including &#128;6&nbsp;million relating to the
U.S.&nbsp;Dollar notes and &#128;6&nbsp;million relating to the Euro Notes) and include accrued interests for &#128;4&nbsp;million (including &#128;2&nbsp;million relating to the U.S.&nbsp;Dollar notes and &#128;2&nbsp;million relating to the Euro
Notes). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt">Represents amounts drawn under the &#147;Senior Notes&#148;. On December&nbsp;19, 2014, Constellium N.V. issued a $400 million Senior Notes due 2023
(the &#147;U.S. Dollar Notes&#148; equivalent to &#128;330&nbsp;million at the year-end </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
exchange rate excluding arrangement fees and accrued interests) and a &#128;240&nbsp;million Senior Notes due 2023 (the &#147;Euro Notes&#148;) offering. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, amounts under the Senior Notes are net of arrangement fees related to the issuance of the notes totaling &#128;12&nbsp;million (including &#128;7&nbsp;million relating to the
U.S.&nbsp;Dollar notes and &#128;5&nbsp;million relating to the Euro Notes) and include accrued interests for &#128;2&nbsp;million (including &#128;1&nbsp;million relating to the U.S.&nbsp;Dollar notes and &#128;1&nbsp;million relating to the Euro
Notes). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The whole of the Senior Notes are guaranteed on a senior unsecured basis by certain of the subsidiaries. Senior Notes include negative covenants. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(D)</TD>
<TD ALIGN="left" VALIGN="top">Represents amounts drawn under the U.S. Revolving Credit Facility. On May&nbsp;25, 2012, Constellium Holdco II B.V., Constellium Holdings I, LLC and Constellium Rolled Products Ravenswood, LLC subsidiaries of
Constellium N.V. entered into a $100 million (equivalent to &#128;82&nbsp;million at the year-end exchange rate), five-year secured asset-based variable rate revolving credit facility and letter of credit facility (&#147;the ABL facility&#148;). At
December&nbsp;31, 2014 the net maximum U.S. Revolving Credit Facility Balance amounts to $94&nbsp;million (equivalent to &#128;78&nbsp;million at the year-end exchange rate). The proceeds from this ABL facility were used to repay amounts owed under
the previous ABL facility entered into by Constellium Rolled Product Ravenswood, LLC on January&nbsp;4, 2011. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Certain assets of the Borrower have been pledged as collateral for the ABL Facility. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, the Group used the letter of credit for about $1 million ($1 million at the year ended December&nbsp;31, 2013). U.S. Revolving Credit Facility is fully classified as a current item.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, the Group had $51 million (equivalent to &#128;42&nbsp;million at the closing exchange rate) of unused borrowing availability under the U.S. Revolving Credit Facility (at December&nbsp;31,
2013: $40&nbsp;million, equivalent to &#128;29&nbsp;million at the closing exchange rate). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(E)</TD>
<TD ALIGN="left" VALIGN="top">In 2014, Constellium N.V. entered into a &#128;120&nbsp;million unsecured revolving credit facility with maturity May&nbsp;2017. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(F)</TD>
<TD ALIGN="left" VALIGN="top">Includes finance lease liabilities and other miscellaneous borrowings. During the third and the fourth quarters in 2014, Constellium Automotive LLC contracted two leases under a sale-leaseback transaction for
respectively $11 million and $19&nbsp;million (equivalent respectively to &#128;10&nbsp;million and &#128;16&nbsp;million at the year-end exchange rate). </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>19.2. Currency concentration </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
composition of the carrying amounts of total non-current and current borrowings (net of unamortized arrangement fees) in Euro equivalents is denominated in the currencies shown below: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><I>(in millions of Euros)</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">U.S. Dollar</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">709</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">270</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Euro</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">539</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Swiss Franc</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total borrowings net of unamortized debt financing costs</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,252</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>348</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>19.3 Movements in borrowings </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Balance at the opening</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>348</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>158</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayments of Term Loan(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(331</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(156</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds received from Term Loan and Senior Notes(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,153</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">351</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Proceeds received from U.S. Revolving Credit Facility</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred arrangement fees(C)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(24</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unamortized arrangement fees(D)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Movement in interests accrued</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Translation differences</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Movement in other financial debt(E)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:2.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Balance at the closing</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B></B>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,252</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B>&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B></B>&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"><B>348</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B>&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2013, the amount includes the repayment of the 2012 term loan ($199 million of the net U.S. dollar principal equivalent to &#128;154&nbsp;million at March&nbsp;25, 2013 exchange rate) and the
principal repayment. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, the amount includes the repayment of the 2013 term loan ($356 million of the net U.S. dollar principal, equivalent to &#128;257&nbsp;million at May&nbsp;7, 2014 exchange rate and
&#128;74&nbsp;million of the net Euro principal) and the principal repayment. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2013, the amount represents the value of the 2013 term loan at March&nbsp;25, 2013 exchange rate (U.S. Dollar Term Loan for $360 million equivalent to &#128;276&nbsp;million at March&nbsp;25,
2013 exchange rate and Euro Term Loan for &#128;75 million). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, the amount represents the value of the Senior Notes at May&nbsp;7, 2014 exchange rate and at December&nbsp;19, 2014 exchange rate (U.S. Dollar Notes for $800 million equivalent to
&#128;613&nbsp;million and Euro Notes for &#128;540&nbsp;million). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2013, the Group recognized &#128;9&nbsp;million of arrangement fees related to 2013 term loan. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, the Group recognized &#128;24&nbsp;million of arrangement fees net of amount amortized related to the Senior Notes. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Arrangement fees are integrated in the effective interest rate calculation. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(D)</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2013 and due to the early repayment of the 2012 term loan, &#128;13&nbsp;million of arrangement fees which were not amortized, were fully recognized as financial expenses (see NOTE
10&#151;Finance costs&#151;Net). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014 and due to the early repayment of the 2013 term loan, &#128;9&nbsp;million of arrangement fees which were not amortized at the date of the issuance of Senior Notes, are fully recognized as
financial expenses. (see NOTE 10&#151;Finance costs&#151;Net). </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(E)</TD>
<TD ALIGN="left" VALIGN="top">As of December&nbsp;31, 2014, other financial debt includes new finance leases of $30 million (equivalent to &#128;26&nbsp;million at year-end exchange rate). </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>19.4. Main features of the Group&#146;s borrowings </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Interest </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>2013 Term Loan </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The interest rate under both U.S.&nbsp;Dollar term loan facilities is the applicable U.S.&nbsp;Dollar interest rate (U.S. Dollar Libor) for the
interest period subject to a floor of 1.25%&nbsp;per annum, plus a margin of 4.75%&nbsp;per annum. The interest rate under both Euro term loan facilities is the applicable Euro interest rate (Euribor) for the interest period subject to a floor of
1.25%&nbsp;per annum, plus a margin of 5.25%&nbsp;per annum. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Senior Notes </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest under Senior Notes issued in May 2014 accrues at a rate of 5.750%&nbsp;per annum on the U.S.&nbsp;Dollar Notes (Due 2024) and
4.625%&nbsp;per annum on the Euro Notes (Due 2021) and will be paid semi-annually on May&nbsp;15 and November&nbsp;15 of each year, starting on November&nbsp;15, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest under Senior Notes issued in December 2014 accrues at a rate of 8.00%&nbsp;per annum on the U.S.&nbsp;Dollar Notes (Due 2023) and
7.00%&nbsp;per annum on the Euro Notes (Due 2023) and will be paid <FONT STYLE="white-space:nowrap">semi-annually</FONT> on January&nbsp;15 and July&nbsp;15 of each year, starting on July&nbsp;15, 2015. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>U.S. Revolving Credit Facility<B> </B></U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Under the ABL Facility, interest charged is dependent upon the type of loan as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>(a)</I> Base Rate Loans will bear interest at an annual rate equal to the sum of the British Banker Association LIBOR Rate (U.S. Dollar
LIBOR) plus an applicable margin comprised between 0.5% and 1.0% of the base rate, which is the greater of: (i)&nbsp;the prime rate in effect on any given day and (ii)&nbsp;the federal funds rate in effect on any given day plus 0.5%. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I>(b)</I> Eurodollar Rate Loans will bear interest at an annual rate equal to the sum of the Eurodollar Rate (essentially U.S.&nbsp;Dollar
LIBOR) plus the applicable margin comprised between 1.5% and 2.0%; </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>Unsecured Credit Facility<B> </B></U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Borrowings under the Unsecured Credit Facility will bear interest at the Eurocurrency rate plus a margin of 2.50%&nbsp;per annum. Accrued
interest on each borrowings shall be payable on demand and in the event of any repayment or prepayment of any loan, accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Foreign exchange Exposure </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>2013
Term Loan<B> </B></U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">It is the Group policy to hedge all non-functional currency loans and deposits. In line with this policy the
U.S.&nbsp;Dollar loans were hedged through cross currency interest rate swaps and rolling foreign exchange forwards. The notional amount of the cross-currency interest rate swaps amounted to $308 million on December&nbsp;31, 2013. The remaining
balance of the term loan was hedged by simple rolling foreign exchange forwards. The cross currency swaps had a negative fair value of &#128;26&nbsp;million at December&nbsp;31, 2013. Changes in the fair value of hedges related to this translation
exposure were recognized within financial costs in the consolidated income statement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The cross currency swaps associated with this
repaid term loan was settled in 2014 for &#128;26&nbsp;million and is presented in Other Financing Activities in the cash flow statement. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>Senior Notes<B> </B></U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
notional amount of the Dollar Notes issued in May 2014 is hedged through cross currency swaps and rolling foreign exchange forwards. The notional amount of the cross currency basis swaps amounted to $320&nbsp;million on December&nbsp;31, 2014. The
remaining balance of the U.S.&nbsp;Dollar Notes is hedged by simple rolling foreign exchange forwards. Changes in the fair value of hedges related to this translation exposure are recognized within financial costs in the consolidated income
statement. The positive fair value of hedging instrument is &#128;29&nbsp;million as of December&nbsp;31, 2014. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The notional amount of the U.S.&nbsp;Dollar Notes issued in December 2014 was placed in
U.S.&nbsp;Dollar short term deposits. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Financing cost </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>2013 Term Loan<B> </B></U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A $2
million (equivalent to &#128;1&nbsp;million at the issue date of the term loan) and &#128;1&nbsp;million original issue discount (OID) were deducted from the Term Loan at inception. Constellium N.V. received a net amount of $209&nbsp;million
(&#128;162 million at the issue date of the Term Loan) and &#128;45 million. Constellium France received a net amount of $149 million (&#128;115 million at the issue date of the Term Loan) and &#128;30 million. In addition, the Group incurred debt
fees of &#128;8 million. Debt fees and OID are integrated into the effective interest rate of the term loan. Interest expenses are included in finance costs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014 and due to the early payment of the 2013 term loan, the Group incurred exit fees of $6&nbsp;million (equivalent
to &#128;4&nbsp;million at the issue date of the private offering) and &#128;2 million. Exit fees are included in finance costs. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>Senior
Notes<B> </B></U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A $16 million (equivalent to &#128;13&nbsp;million at December&nbsp;31, 2014 and net of amount amortized) and
&#128;11&nbsp;million arrangement fees net of amount amortized were deducted from the private offerings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Arrangement fees are integrated
in the effective interest rate calculation of the private offerings. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>U.S. Revolving Credit Facility<B> </B></U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The &#128;3&nbsp;million U.S. Revolving Credit Facility expenses incurred in 2012 were included in Deferred financing costs and are amortized
as interest expense in Finance costs &#150; net. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A fronting fee of 0.125%&nbsp;per annum of the face amount of each letter of credit is
expensed as incurred and payable in arrears on the last day of each calendar quarter after the letter of credit issuance. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>Unsecured
Credit Facility<B> </B></U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, transaction costs related to the Unsecured Revolving Facility are capitalized and
amortized over the maturity of the credit facility (May 2017). The related fees are amortized over 36 months as a finance expense. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
addition, the Group incurs commitment fees related to the Unsecured Credit Facility, equal to (i)&nbsp;the average of the daily difference between the commitments and the aggregate principal amount of all outstanding loans; times (ii)&nbsp;1.00% per
annum. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Covenants </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>Senior
Notes<B> </B></U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The private offerings contain customary terms and conditions, including amongst other things, limitation on incurring or
guaranteeing additional indebtness, on paying dividends, on making other restricted payments, on creating restriction on dividend and other payments to us from certain of our subsidiaries, on incurring certain liens, on selling assets and subsidiary
stock, and on merging. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group was in compliance with all applicable affirmative covenants as of and for the period
ended December&nbsp;31, 2014. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>U.S. Revolving Credit Facility<B> </B></U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This facility contains a minimum availability covenant that requires Constellium Rolled Products Ravenswood, LLC to maintain excess
availability of at least the greater of (a)&nbsp;$10 million and (b)&nbsp;10% of the aggregate revolving loan commitments. It also contains customary events of default. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium Rolled Products Ravenswood, LLC was in compliance with all applicable covenants as of and for the period ended December&nbsp;31,
2014. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U></U></B><U>Factoring Facilities<B> </B></U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The factoring facility has a minimum liquidity covenant. As of December&nbsp;31, 2014 the Company was in compliance. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 20&#151;TRADE PAYABLES AND OTHER </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><I>(in millions of Euros)</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Third parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">659</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">411</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Related parties</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Trade payables</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>659</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>469</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other payables</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Employees&#146; entitlements</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">119</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred revenue</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Taxes payable other than income tax</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Other</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>213</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>35</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>177</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Trade payables and Other</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>872</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>35</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>646</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 21&#151;PENSION AND OTHER POST-EMPLOYMENT BENEFIT OBLIGATIONS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For the years ended December&nbsp;31, 2014 and 2013, actuarial valuations were performed with the support of an independent expert and are
reflected in the consolidated financial statements as described in NOTE 2.e&#151;Principles governing the preparation of the consolidated financial statements. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Description of the plans </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group
operates a number of pensions, other post-employment benefits and other long-term employee benefit plans. Some of these plans are defined contribution plans and some are defined benefit plans, with assets held in separate trustee-administered funds.
Benefits paid through pension trusts are sufficiently funded to ensure the payment of benefits to retirees when they become due. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Pension plans
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium&#146;s pension obligations are in the U.S., Switzerland, Germany, and France. Pension benefits are generally based on
the employee&#146;s service and highest average eligible compensation before retirement and are periodically adjusted for cost of living increases, either by company practice, collective agreement or statutory requirement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Other post-employment benefits (OPEB) </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group provides health care and life insurance benefits to retired employees and in some cases to their beneficiaries and covered
dependents, mainly in the U.S. Eligibility for coverage is dependent upon certain age and service criteria. These benefit plans are unfunded. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Other
long-term employee benefits </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other long term employee benefits include jubilees in France and Switzerland, other long-term
disability benefits in the U.S. and medical care in France. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Description of risks </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our pension plan assets consist primarily of funds invested in listed stocks and bonds. Our estimates of liabilities and expenses for pensions
and other post-employment benefits incorporate a number of assumptions, including discount rate, longevity estimate and inflation rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The defined benefit plans expose the Group to actuarial risks such as: investment risk, interest rate risk, longevity risk and change in law
governing the employee benefit obligations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Investment risk </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The present value of funded defined benefit obligations is calculating using a discount rate determined by reference to high quality corporate
bond yields. If the return on plan asset is below this rate, it will increase the plan deficit. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Interest risk </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A decrease in the discount rate will increase the defined benefit obligation. As at December&nbsp;31, 2014, impacts of the change on the
defined benefit obligation of a 0.50% increase / decrease in the discount rates are calculated by using a proxy based on the duration of each scheme, as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>0.50%<BR>increase&nbsp;in<BR>discount&nbsp;rates</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>0.50%<BR>decrease&nbsp;in<BR>discount&nbsp;rates</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">France</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Germany</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Switzerland</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">United States</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total sensitivity on Defined benefit obligations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(64</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>72</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Longevity risk </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The present value of the defined benefit obligation is calculated by reference to the best estimate of the mortality of plan participants. An
increase in the life expectancy of the plan participants will increase the plan&#146;s liability. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Main events (related impact being recorded in Other
gains / (losses)&#151;net, see NOTE 8) </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In 2014, the Swiss pension plan was modified to reflect updated conversion factors with transitional rates until 2022. This amendment resulted in the immediate recognition of negative past service cost of &#128;6
million. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In 2012, 2013 and 2014, the Group implemented certain plan amendments that had the effect of reducing benefits for the participants in the Constellium Rolled Products Ravenswood Retiree Medical and Life Insurance Plan.
These amendments resulted in the immediate recognition of negative past service cost of &#128;9&nbsp;million in 2014, &#128;11&nbsp;million in 2013 and of &#128;58&nbsp;million in 2012. </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">During the first quarter of 2012, the Group withdrew from the foundation which administered its employee benefit plans in Switzerland and joined a commercial multi-employer foundation. This change led to a partial
liquidation which triggered a settlement. Consequently, related assets and liabilities were transferred to the new foundation and employees&#146; benefits were also adjusted. The settlement resulted in an &#128;8&nbsp;million loss.
</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rate of<BR>increase<BR>in<BR>salaries</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rate of<BR>increase<BR>in<BR>pensions</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Discount<BR>rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Inflation</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rate of<BR>increase<BR>in<BR>salaries</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rate of<BR>increase<BR>in<BR>pensions</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Discount<BR>rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Inflation</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Switzerland</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.15</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.35</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">U.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.80</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.80</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Hourly pension</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.15</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.95</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Salaried pension</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5.15</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">OPEB(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.05</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.85</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">France</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Retirements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.90</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other benefits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.55</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Germany</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.80</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.90</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.80</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended December&nbsp;31, 2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rate&nbsp;of&nbsp;increase<BR>in salaries</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Rate&nbsp;of&nbsp;increase<BR>in pensions</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Discount&nbsp;rate</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Inflation</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Switzerland</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.95</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">U.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.80</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Hourly pension</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.15</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Salaried pension</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.35</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">OPEB(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4.05</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">France</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Retirements</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.20</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other benefits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.20</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Germany</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.20</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.10</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Other main financial assumptions used for the OPEB (healthcare plans, which are predominantly in the U.S.), were: </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Medical trend rate: pre 65: 7.00% starting in 2015 reducing to 5.00% by the year 2022 and post 65: 6.50% starting in 2015 grading down to 5.00% by 2022, and </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Claims costs based on individual company experience. </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">For both pension and healthcare plans,
the post-employment mortality assumptions allow for future improvements in life expectancy. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amounts recognized in the Consolidated Statement of Financial Position </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><I>(in millions of Euros)</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Present value of funded obligation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(612</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(612</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(485</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(485</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fair value of plan assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">330</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">330</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">277</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deficit of funded plans</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(282</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(282</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(208</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(208</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Present value of unfunded obligation</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(127</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(245</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(372</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(104</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(195</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(299</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net liability arising from defined benefit obligations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(409</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(245</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(654</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(312</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(507</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Movements in the present value of the Defined Benefit Obligations </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Defined Benefit Obligations at beginning of year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(589</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(784</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(644</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(234</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(878</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net decrease in liabilities from disposals</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current service cost</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest cost</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(21</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(30</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(19</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actual plan participants&#146; contributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Past service cost</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Immediate recognition of (losses) / gains arising over the year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actual benefits paid out</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remeasurement due to changes in demographic assumptions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(26</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remeasurement due to changes in financial assumption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(101</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(117</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Experience gain / (loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange rate (loss) / gain</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(33</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(26</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(59</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Classified as held for sale</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Defined Benefit Obligations at end of year</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(739</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(245</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(984</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(589</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(784</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Of which:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Funded</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(612</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(612</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(485</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(485</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unfunded</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(127</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(245</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(372</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(104</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(195</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(299</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Movements in the fair value of plan assets </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Plan assets at beginning of year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>267</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>267</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remeasurement return on plan assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interests income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actual employer contributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actual plan participants&#146; contributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actual benefits paid out</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(44</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(46</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actual administrative expenses paid</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange rate gain / (loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Fair value of plan assets at end of year</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>330</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>330</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Variation of the net pension liabilities </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net (liability) recognized at beginning of year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(312</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(507</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(377</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(234</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(611</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total amounts recognized in the Consolidated Income Statement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(30</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total amounts recognized in the SoCI</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(101</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(130</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actual employer contributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange rate (loss) / gain</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(26</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(36</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net decrease from disposals</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Classified as held for sale</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net (liability) recognized at end of year</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(409</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(245</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(654</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(312</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(195</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(507</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amounts recognized in the Consolidated Income Statement </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="55%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31, 2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Service cost</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current service cost</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Past service cost</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">(Losses) arising from plan settlements</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net interests</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(20</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(13</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(26</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Immediate recognition of (losses) / gains arising over the period</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Administrative expense</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total (costs) / income recognized in the Consolidated Income Statement</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(20</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(30</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(29</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(36</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>38</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The expenses shown in this table are included as employee costs in the Consolidated Income Statement within
employee benefit expense and in Other gains/(losses)&#151;net (See NOTE 7&#151;Employee Benefit Expenses and NOTE 8&#151;Other Gains / (Losses)&#151;Net). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Analysis of amounts recognized in the Consolidated Statement of Comprehensive Income (SoCI) </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Pension<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other<BR>benefits</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cumulative amount of losses recognized in the SoCI at beginning of year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>83</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>20</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>103</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liability losses due to changes in assumptions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liability losses / (gains) due to changes in financial assumptions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>119</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(44</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(16</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liability experience (gains) / losses arising during the year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Asset (gains) arising during the year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(11</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(11</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exchange rate losses /&nbsp;(gains)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total losses / (gains) recognized in SoCI</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>105</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>137</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(56</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(72</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cumulative amount of losses recognized in the SoCI at end of year</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>132</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>36</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>168</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>31</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Defined benefit obligations by countries </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">France</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(139</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(111</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Germany</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(148</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(127</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Switzerland</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(224</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(185</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">U.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(473</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(361</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Defined Benefit Obligations</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(984</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(784</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Value of plan assets at year end by major classes of assets </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table shows the fair value of plans&#146; assets classified under the appropriate level of the fair value hierarchy: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="64%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>U.S.</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Switzerland</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>U.S.</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Switzerland</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Equities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>123</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>99</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bonds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>145</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>125</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Property</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>38</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>34</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total fair value of plan assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>161</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>169</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>330</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>130</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>147</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The actual return on plan assets was &#128;21&nbsp;million in 2014 (&#128;17 million in 2013).
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="14" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At</B><br><B>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Equity</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>123</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>99</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bonds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Government bonds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Corporate bonds</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>144</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>121</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other investments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Real estate</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Hedge fund</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Insurance contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>196</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>115</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>330</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>168</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>90</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>277</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cash Flows </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contributions to plans </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Contributions to
pension plans totaled &#128;34&nbsp;million for the year ended December&nbsp;31, 2014 (&#128;27 million for the year ended December&nbsp;31, 2013). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Contributions to other benefits totaled &#128;15&nbsp;million for the year ended December&nbsp;31, 2014 (&#128;16 million for the year ended
December&nbsp;31, 2013). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Expected contributions to pension for the year ending December&nbsp;31, 2015 amount to &#128;29&nbsp;million and
other post-employment benefits (healthcare obligations) amount to &#128;16 million. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Benefit payments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Benefit payments expected to be paid to pension, other post-employment benefit plans&#146; participants and other benefits, are as follows:
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="23%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Estimated<BR>&nbsp;&nbsp;benefits&nbsp;payments&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Year ended December&nbsp;31,</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2019 to 2024</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">329</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>520</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>OPEB amendments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the third quarter of 2012, the Group implemented certain plan amendments that had the effect of reducing benefits of the participants in
the Constellium Rolled Products Ravenswood Retiree Medical and Life Insurance Plan. In February 2013, five Constellium retirees and the United Steelworkers union filed a class action lawsuit against Constellium Rolled Products Ravenswood, LLC in a
federal district court in West Virginia, alleging that Constellium Rolled Products Ravenswood, LLC improperly modified retiree health benefits. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group believes that these claims are unfounded, and that Constellium Rolled Products
Ravenswood, LLC had a legal and contractual right to make the applicable modification. </P>
 <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 22&#151;PROVISIONS </B></P>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="11%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Close down,<BR>environmental&nbsp;and<BR>restoration costs</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Restructuring<BR>costs</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Legal&nbsp;claims,&nbsp;tax<BR>and other costs</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>At January&nbsp;1, 2014</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>45</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>103</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amounts used</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(12</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unused amounts reversed</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unwinding of discounts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>4</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>At December&nbsp;31, 2014</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>47</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>53</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>110</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>49</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-current</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>61</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Provisions</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>47</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>53</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>110</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>At January&nbsp;1, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>56</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>47</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>122</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional provisions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>17</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amounts used</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(20</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unused amounts reversed</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Others</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unwinding of discounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>At December&nbsp;31, 2013</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>45</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>103</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Current</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>38</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-current</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">15</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>65</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:5.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Provisions</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>48</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>45</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>103</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Close down, environmental and restoration costs </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group records provisions for the estimated present value of the costs of its environmental clean-up obligations and close down and
restoration efforts based on the net present value of estimated future costs of the dismantling and demolition of infrastructure and the removal of residual material of disturbed areas, using an average discount rate of 1.21%. A change in the
discount rate of 0.50% would impact the provision by &#128;2 million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">It is expected that these provisions will be settled over the next
40 years depending on the nature of the disturbance and the technical remediation plans. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Restructuring costs </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group records provisions for restructuring costs when management has a detailed formal plan, is demonstrably committed to its execution and
can reasonably estimate the associated liabilities. The related expenses are included in Restructuring costs in the Consolidated Income Statement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Legal claims, tax and other costs </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance and customers related provisions(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Litigations(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disease claims(C)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>53</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>45</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">These provisions include &#128;7&nbsp;million (&#128;7 million in 2013 and &#128;13&nbsp;million in 2012) related to general equipment maintenance, mainly linked to the Group&#146;s leases. These provisions also include
&#128;1&nbsp;million (&#128;3&nbsp;million in 2013 and in 2012) related to product warranties and guarantees and &#128;6&nbsp;million (&#128;6 million in 2013 and &#128;5&nbsp;million in 2012) related to late delivery penalties. These provisions are
expected to be utilized in the next five years. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">The Group is involved in litigation and other proceedings, such as civil, commercial and tax proceedings, incidental to normal operations. It is not anticipated that the resolution of such litigation and proceedings
will have a material effect on the future results, financial position, or cash flows of the Group. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">Since the early 1990s, certain activities of the Group&#146;s businesses have been subject to claims and lawsuits in France relating to occupational diseases resulting from alleged asbestos exposure, such as
mesothelioma and asbestosis. It is not uncommon for the investigation and resolution of such claims to go on over many years as the latency period for acquiring such diseases is typically between 25 and 40 years. For any such claim, it is up to the
social security authorities in each jurisdiction to determine if a claim qualifies as an occupational illness claim. If so determined, the Group must settle the case or defend its position in court. As at December&nbsp;31, 2014, 9 cases in which
gross negligence is alleged (&#147;<I>faute inexcusable</I>&#148;) remain outstanding (10 as at December&nbsp;31, 2013), the average amount per claim being &#128;0.3 million. The average settlement amount per claim in 2014 and 2013 was &#128;0.1
million. It is not anticipated that the resolution of such litigation and proceedings will have a material effect on the future results from continuing operations, financial condition, or cash flows of the Group. </TD></TR></TABLE>
 <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 23&#151;CASH FLOWS </B></P>
 <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="53%"></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cash flows from / (used in) operating activities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net income from continuing operations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">149</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Adjustments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax expense</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">11</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Finance costs&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">10</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation and impairment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">6</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restructuring costs and other provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defined benefit pension costs</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">21</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized losses / (gains) on derivatives&#151;net and from remeasurement of monetary assets and liabilities&#151;net</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4,&nbsp;8</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(60</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Losses on disposal and assets classified as held for sale</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share of (profit) / loss of joint-ventures</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Adjustments</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>241</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>133</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>81</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>



<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:72.05pt; font-size:8pt; font-family:Times New Roman"><B>(in millions of Euros)</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B>Notes<B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changes in working capital</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(95</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(48</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Margin calls</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">170</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other working capital</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(33</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Changes in working capital</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>44</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>115</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changes in other operating assets and liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(12</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(17</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(31</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Income tax paid</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(27</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(29</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pension liabilities and other post-employment benefit obligations</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(49</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(43</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(40</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total Changes in other operating assets and liabilities</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(88</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(89</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(99</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net cash flows from operating activities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>212</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>184</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>246</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 24&#151;FINANCIAL RISK MANAGEMENT </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group&#146;s financial risk management strategy focuses on minimizing the cost and cash flow impacts of volatility in foreign currency
exchange rates, metal prices and interest rates, while maintaining the financial flexibility the Group requires in order to successfully execute the Group&#146;s business strategies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Due to Constellium&#146;s capital structure and the nature of its operations, the Group is exposed to the following financial risks:
(1)&nbsp;market risk (including foreign exchange risk, commodity price risk and interest rate risk); (2)&nbsp;credit risk and (3)&nbsp;liquidity and capital management risk. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>a. <U>Market risk</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(i) Foreign exchange risk
</I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Net assets, earnings and cash flows are influenced by multiple currencies due to the geographic diversity of sales and the
countries in which the Group operates. The Euro and the U.S. dollar are the currencies in which the majority of sales are denominated. Operating costs are influenced by the currencies of those countries where Constellium&#146;s operating plants are
located and also by those currencies in which the costs of imported equipment and services are determined. The Euro and U.S. dollar are the most important currencies influencing operating costs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The policy of the Group is to hedge committed and highly probable forecasted foreign currency operational transactions. The Group uses foreign
exchange forwards for this purpose. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In June 2011, the Group entered into a multiple-year frame agreement with a major customer for the
sale of fabricated metal products in U.S. Dollars. In line with its hedging policy, the Group entered into significant foreign exchange derivative transactions to forward sell U.S. dollars versus the euro following the signing of the multiple-year
frame agreement to match these future sales. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As at December&nbsp;31, 2014, our largest foreign exchange derivative transactions related
to this contract. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The notional principal amounts of the outstanding foreign exchange contracts at December&nbsp;31,
2014&#151;with maturities ranging between 2015 and 2018&#151;were as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="69%"></TD>
<TD VALIGN="bottom" WIDTH="10%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:30.20pt; font-size:8pt; font-family:Times New Roman"><I>Currency</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Forward<BR>Exchange<BR>contracts&nbsp;in<BR>currency<BR>millions</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Foreign<BR>Exchange<BR>Swap<BR>contracts&nbsp;in<BR>currency<BR>millions</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CHF</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CZK</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(28</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">768</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EUR</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">116</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GBP</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">JPY</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1,012</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(583</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SGD</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">USD</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(144</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(186</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A negative balance represents a net currency sale, whereas a positive balance represents a net currency
purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Except for limited non-recurring transactions, hedge accounting is not applied and therefore the mark-to-market impact is
recorded in Other gains/(losses)&#151;net. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the year ended December&nbsp;31, 2013, the impact of the Group&#146;s hedging strategy in
relation to foreign currency led to unrealized gains on derivatives of &#128;21&nbsp;million which related primarily to the exposure on the multiple year sale agreement for fabricated products in U.S. dollars by a euro functional subsidiary of the
group. In the year ended December&nbsp;31, 2014, the impact of these derivatives was an unrealized loss of &#128;41&nbsp;million as the U.S. dollar appreciated against the euro in the second half of 2014. The offsetting gain related to the
forecasted sales are not visible due to the sales not yet being recorded in the books of the Group. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As the U.S. dollar appreciates
against the euro, the derivative contracts entered into with financial institutions have a negative mark-to-market. Our financial derivative counterparties require margin should our mark-to-market exceed a pre-agreed contractual limit. In order to
protect from the potential margin calls for significant market movements, the Group holds a significant liquidity buffer in cash or in availability under its various borrowing facilities, enters into derivatives with a large number of financial
counterparties and monitors margin requirements on a daily basis for adverse movements in the U.S. dollar versus the euro. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At
December&nbsp;31, 2014, the margin requirement related to foreign exchange hedges amounted to zero (&#128;11&nbsp;million at December&nbsp;31, 2013). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Throughout the year 2014, there were no margins posted related to foreign exchange hedges. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During 2012, the Group has decided to limit the liquidity risk arising from potential margin calls on operational hedges by entering into a
portfolio of foreign exchange zero cost collars (combinations of bought calls and sold puts). As of December&nbsp;31, 2014, the Group still had $198 million of these collars (as of December&nbsp;31, 2013: $398 million), with maturities ranging
between 2015 and 2016. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Borrowings are principally in U.S. dollars and euros (see NOTE 19 &#150; Borrowings). It is the policy of the
Group to hedge all non-functional currency debt and cash. The Group entered into cross currency basis swaps to hedge the foreign exchange inherent in our financing. As of December&nbsp;31, 2014, the notional outstanding on the cross currency basis
swaps was $320 million (&#128;233 million). The unrealized gain related to the economic hedges of the USD loans amounted to &#128;30&nbsp;million during the year ended December&nbsp;31, 2014. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Foreign exchange sensitivity: Risks associated with exposure to financial instruments </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A 10% weakening in the December&nbsp;31, 2014, closing Euro exchange rate against U.S.&nbsp;Dollar on the value of financial instruments held
by the Group at December&nbsp;31, 2014, would have decreased earnings (before tax effect) as shown in the table below (excluding Wise purchase hedging result): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="75%"></TD>
<TD VALIGN="bottom" WIDTH="21%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>At December&nbsp;31, 2014</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:75.10pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Sensitivity&nbsp;impact</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents and restricted cash</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">45</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(14</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(77</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Metal derivatives (net)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign exchange derivatives (net)(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(54</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cross currency swaps</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(51</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">The foreign exchange derivatives largely hedge items that are not already on the balance sheet (forecast U.S.&nbsp;Dollar receivables in euros functional currency entities) </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The amounts shown in the table above may not be indicative of future results since the balances of financial assets and liabilities may
change. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A 10% weakening in the December&nbsp;31, 2014, closing Euro exchange rate against Swiss Franc on the value on trade receivable is
&#128;1&nbsp;million and on trade payable is &#128;(6)&nbsp;million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">A 10% change in the closing Euro exchange rate against currencies
other than U.S.&nbsp;Dollar or Swiss Franc does not have a material impact on earnings. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(ii) Commodity price risk </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group is subject to the effects of market fluctuations in the price of aluminium, which is the Group&#146;s primary metal input and a
significant component of its output. The Group is also exposed to silver, copper and natural gas in a less significant way. The Group has entered into derivatives contracts to manage these risks and carries those instruments at their fair values on
the Consolidated Statement of Financial Position. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, the notional principal amount of aluminium derivatives
outstanding was 133,875&nbsp;tons (approximately $269 million)&#151;129,350 tons at December&nbsp;31, 2013, (approximately $247&nbsp;million)&#151;with maturities ranging from 2015 to 2019, copper derivatives outstanding was 3,000 tons
(approximately $24 million)&#151;4,200 tons at December&nbsp;31, 2013 (approximately $33 million)&#151;with maturities ranging from 2015 to 2016, silver derivatives 270,027 ounces (approximately $6 million)&#151;261,785 ounces at December&nbsp;31,
2013 (approximately $6 million)&#151;with maturities in 2015, and 3,465,000 MMBtu of natural gas futures (approximately $13 million)&#151;900,000 MMBtu at December&nbsp;31, 2013 (approximately $3 million) with maturities from 2015 to 2016. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The value of the contracts will fluctuate due to changes in market prices but is intended to help protect the Group&#146;s margin on future
conversion and fabrication activities. At December&nbsp;31, 2014, these contracts are directly with external counterparties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">When the
Group is unable to align the price and quantity of physical aluminium purchases with that of physical aluminium sales, it enters into derivative financial instruments to pass through the exposure to metal price fluctuations to financial institutions
at the time the price is set. Therefore, the Group has purchased fixed </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
price aluminium forwards to offset the exposure of LME volatility on its fixed price sales agreements for the supply of metal. The Group does not apply hedge accounting and therefore any
mark-to-market movements are recognized in Other gains / (losses)&#151;net. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the year ended December&nbsp;31, 2013,
&#128;7&nbsp;million of unrealized losses were recorded in relation to LME futures due to a decline in the LME price of aluminium. In the year ended December&nbsp;31, 2014, &#128;7&nbsp;million of unrealized losses were recorded in relation to LME
futures due to a decline in the LME price of aluminium, with the revaluation of the underlying transaction continuing partially off- balance sheet for the sales which had not yet been invoiced and recognized as revenue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As the LME price for aluminium falls, the derivative contracts entered into with financial institution counterparties have a negative
mark-to-market. The Group&#146;s financial institution counterparties may require margin calls should the negative mark-to-market exceed a pre-agreed contractual limit. In order to protect from the potential margin calls for significant market
movements, the Group enters into derivatives with a large number of financial counterparties and monitors margin requirements on a daily basis for adverse movements in aluminium prices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, the margin requirement related to aluminium hedges was zero (as of December&nbsp;31, 2013, margin posted on
aluminium hedges was also zero). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Throughout the year 2014, there was no margin posted related to aluminium hedges. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Commodity price sensitivity: risks associated with derivatives </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The net impact on earnings and equity of a 10% increase or decrease in the market price of aluminium, based on the aluminium derivatives held
by the Group at December&nbsp;31, 2014 (before tax effect), with all other variables held constant was estimated to &#128;20&nbsp;million gains or losses (&#128;17 million at December&nbsp;31, 2013). The balances of such financial instruments may
change in future periods however, and therefore the amounts shown may not be indicative of future results. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>(iii) Interest rate risk </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Interest rate risk refers to the risk that the value of financial instruments held by the Group and that are subject to variable rates will
fluctuate, or the cash flows associated with such instruments will be impacted due to changes in market interest rates. The Group&#146;s interest rate risk arises principally from borrowings. Borrowings issued at variable rates expose the Group to
cash flow interest rate risk which is partially offset by cash and cash equivalents deposits (including short-term investments) earning interest at variable interest rates. Borrowings issued at fixed rates expose the Group to fair value interest
rate risk. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Interest rate sensitivity: risks associated with variable-rate financial instruments </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The impact (before tax effect) on profit (loss) for the period of a 50 basis point increase or decrease in the LIBOR or EURIBOR interest rates,
based on the variable rate financial instruments held by the Group at December&nbsp;31, 2014, with all other variables held constant, was estimated to be less than &#128;1&nbsp;million for the periods ended December&nbsp;31, 2014 and
December&nbsp;31, 2013. The balances of such financial instruments may not remain constant in future periods however, and therefore the amounts shown may not be indicative of future results. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>b. <U>Credit risk</U> </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Credit risk is the
risk that a counterparty will not meet its obligations under a financial instrument or customer contract, leading to a financial loss. The Group is exposed to credit risk with financial institutions and
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
other parties as a result of cash-in-bank, cash deposits and the mark-to-market on derivative transactions and from customer trade receivables arising from Constellium&#146;s operating
activities. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial asset as described in NOTE 25&#151;Financial Instruments. The Group does not generally hold any collateral as security. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Credit risk related to deposits with financial institutions </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Credit risk with financial institutions is managed by the Group&#146;s Treasury department in accordance with a Board approved policy.
Constellium management is not aware of any significant risks associated with financial institutions as a result of cash and cash equivalents deposits (including short-term investments) and financial derivative transactions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The number of financial counterparties is tabulated below showing our exposure to the counterparty by rating type (Parent company ratings from
Moody&#146;s Investor Services). </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Number of<BR>financial<BR>counterparties(A)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exposure<BR></B><B><I>(in&nbsp;millions&nbsp;<BR>of Euros)</I></B><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Number of<BR>financial<BR>counterparties(A)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exposure<BR></B><B><I>(in&nbsp;millions&nbsp;<BR>of Euros)</I></B><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rated Aa or better</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">233</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rated A</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">764</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">222</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rated Baa</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,002</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>239</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Financial Counterparties for which the Group&#146;s exposure is below &#128;250k have been excluded from the analysis. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Credit risks related to customer trade receivables </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group has a diverse customer base geographically and by industry. The responsibility for customer credit risk management rests with
Constellium management. Payment terms vary and are set in accordance with practices in the different geographies and end-markets served. Credit limits are typically established based on internal or external rating criteria, which take into account
such factors as the financial condition of the customers, their credit history and the risk associated with their industry segment. Trade accounts receivable are actively monitored and managed, at the business unit or site level. Business units
report credit exposure information to Constellium management on a regular basis. Over 80% of the Group&#146;s trade account receivables are insured by insurance companies rated A3<SUP STYLE="font-size:85%; vertical-align:top">4</SUP> or better. In
situations where collection risk is considered to be above acceptable levels, risk is mitigated through the use of advance payments, bank guarantees or letters of credit. Historically we have a very low level of customer default as a result of long
history of dealing with our customer base and an active credit monitoring function. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">See NOTE 16&#151;Trade Receivables and Other for the
aging of trade receivables. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>c. <U>Liquidity and capital risk management</U> </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group&#146;s capital structure includes shareholder&#146;s equity, borrowings from related parties and various third-party financing
arrangements (such as credit facilities and factoring arrangements). Constellium&#146;s total capital is defined as total equity plus net debt. Net debt includes borrowings due to third parties less cash and cash equivalents. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">4</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Rating from Moody&#146;s Investor Services. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium&#146;s overriding objectives when managing capital are to safeguard the business as a
going concern, to maximize returns for its owners and to maintain an optimal capital structure in order to minimize the weighted cost of capital. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All activities around cash funding, borrowings and financial instruments are centralized within Constellium&#146;s Treasury department. Direct
external funding or transactions with banks at the operating plant entity level are generally not permitted, and exceptions must be approved by Constellium&#146;s Treasury department. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The liquidity requirements of the overall Company are funded by drawing on available credit facilities, while the internal management of
liquidity is optimized by means of cash pooling agreements and/or intercompany loans and deposits between the Company&#146;s operating entities and central Treasury. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The contractual agreements that the Group has with derivative financial counterparties require the posting of collateral once a certain
threshold has been reached. In order to protect the Group from the potential margin calls for significant market movements, the Group holds a significant liquidity buffer in cash or availability under its various borrowing facilities, enters into
derivatives with a large number of financial counterparties, entered into a series of zero cost collars (see section 24.a (i)) and monitors margin requirements on a daily basis for adverse movements in the U.S. dollar versus the euro and in
aluminium prices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The table below shows undiscounted contractual values by relevant maturity groupings based on the remaining period from
December&nbsp;31, 2014, and December&nbsp;31, 2013, to the contractual maturity date. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="56%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Less&nbsp;than<BR>1&nbsp;year</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Between&nbsp;1<BR>and<BR>5&nbsp;years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Over <BR>5&nbsp;years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Less&nbsp;than<BR>1&nbsp;year</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Between&nbsp;1<BR>and<BR>5&nbsp;years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Over <BR>5&nbsp;years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Financial assets:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cross currency interest rate swaps</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Financial liabilities:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">304</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,456</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">341</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cross currency interest rate swaps</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net cash flows from derivatives liabilities related to currencies and metal(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables and other (excludes deferred revenue)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">840</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">633</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,005</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>368</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,456</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>698</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>141</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>341</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Borrowings include the U.S. Revolving Credit Facility which is considered short-term in nature and is included in the category &#147;Less than 1 year&#148; and undiscounted forecasted interests on the Term Loan.
</TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">Foreign exchange options have not been included as they are not in the money. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">See NOTE
19&#151;Borrowings, for further details on borrowings and credit facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">See NOTE 16&#151;Trade receivables and others, for further
details on factoring arrangements. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Derivative financial instruments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group enters into derivative contracts to manage operating exposure to fluctuations in foreign currency, aluminium, copper, silver and
natural gas prices. The tables below show the undiscounted contractual values and terms of derivative instruments. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Less&nbsp;than<BR>1&nbsp;year</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Between&nbsp;1<BR>and&nbsp;5&nbsp;years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Less&nbsp;than<BR>1&nbsp;year</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Between&nbsp;1<BR>and&nbsp;5&nbsp;years</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U>Assets&#151;Derivative Contracts(A)</U></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Aluminium future contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency derivative contracts</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>52</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>19</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cross currency interest rate swap(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>50</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>34</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>84</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>20</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B><U>Liabilities&#151;Derivative Contracts(A)</U></B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Aluminium future contracts</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Copper future contracts</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Silver and natural gas future contracts</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency derivative contracts</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>91</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>15</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cross currency interest rate swaps(B)</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>27</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>73</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>44</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>117</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>54</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Foreign exchange options have not been included as they are not in the money. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">The principal of the U.S.&nbsp;Dollar Notes issued in May 2014 is hedged by using floating-floating cross currency basis swaps indexed on floating Euro and U.S.&nbsp;Dollar interest rates. At December&nbsp;31, 2014, the
Group recognizes a positive fair value of the hedging instrument for &#128;30&nbsp;million (undiscounted amount). </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The
principal of the U.S.&nbsp;Dollar loans issued in March 2013 were hedged through cross currency interest rate swaps and rolling foreign exchange forwards. The cross currency swaps had a negative fair value of &#128;27&nbsp;million (undiscounted
amount) at December&nbsp;31, 2013. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 25&#151;FINANCIAL INSTRUMENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The tables below show the classification of financial assets and liabilities, which includes all third and related party amounts. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Financial assets and liabilities by categories </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Notes</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Loans and<BR>receivables</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At Fair<BR>Value<BR>through<BR>Profit<BR>and&nbsp;loss<SUP STYLE="font-size:85%; vertical-align:top">(A)</SUP></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Loans and<BR>receivables</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At Fair<BR>Value<BR>through<BR>Profit<BR>and loss</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">989</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>989</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">233</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>233</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables and Finance Lease receivables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">458</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>458</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">394</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>394</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>90</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total financial assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,454</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>83</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,537</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>638</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>659</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Notes</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>amortized<BR>costs</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At Fair<BR>Value<BR>through<BR>Profit<BR>and&nbsp;loss(A)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>amortized<BR>costs</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At Fair<BR>Value<BR>through<BR>Profit<BR>and loss</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">659</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>659</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">469</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>469</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Borrowings</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1,252</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,252</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">348</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>348</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>111</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total financial liabilities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1,911</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>111</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2,022</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>817</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>877</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Other financial assets and Other financial liabilities are detailed as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31, 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="10" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31, 2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Non-current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Current</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Derivatives</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>83</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Margin calls</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other(B)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Other financial assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>33</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>57</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>90</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>7</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>25</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>32</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Derivatives</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>111</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Other financial liabilities</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>40</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>71</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>111</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>36</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>24</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Except for derivatives hedging the foreign currency risk associated to Wise purchase price. (See NOTE 3&#151;Acquisition of Wise entities) </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">Corresponds to advance payments related to finances leases contracted for the expansion of the site in Van Buren, U.S. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Fair values </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">All the derivatives are
presented at fair value in the balance sheet. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The carrying value of the Group&#146;s borrowings is the redemption value at maturity. The
fair value of the ABL and December 2014 Senior Notes is approximately the carrying value. The fair value of the May 2014 Senior Notes accounts for 87.0% of the carrying value and amounts to &#128;540&nbsp;million as of December&nbsp;31, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The fair values of other financial assets and liabilities approximate their carrying values, as a result of their liquidity or short maturity.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Margin calls </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium Finance
SAS and Constellium Switzerland AG entered into agreements with some financial institutions in order to define applicable rules with regards to the setting-up of derivative trading accounts. On a daily or weekly basis (depending on the arrangement
with each financial institution), all open currency or metal derivative contracts are revalued to the current market price. When the change in fair value reaches a certain threshold (positive or negative), a margin call occurs resulting in the Group
making or receiving back a cash payment to/from the financial institution. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The cash deposit related to margin calls made by the Group is
nil as of December&nbsp;31, 2014 (&#128;11 million at December&nbsp;31, 2013). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Valuation hierarchy </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table provides an analysis of financial instruments measured at fair value, grouped into blevels based on the degree to which the
fair value is observable: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Level 1 valuation is based on quoted prices (unadjusted) in active markets for identical financial instruments, it includes aluminium futures that are trade on the LME; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Level 2 valuation is based on inputs other than quoted prices included within Level 1 that are observable for the assets or liabilities, either directly (i.e. prices) or indirectly (i.e. derived from prices), it
includes foreign exchange derivatives. The method used to calculate the fair value mainly consists on discounted cash flow; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Level 3 valuation is based on inputs for the asset or liability that are not based on observable market data (unobservable inputs). </TD></TR></TABLE>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>At December&nbsp;31, 2014</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:75.10pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>83</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>111</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>At December&nbsp;31, 2013</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:75.10pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;1</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;2</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Level&nbsp;3</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Total</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other financial liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>60</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 26&#151;INVESTMENTS IN JOINT VENTURES </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at January&nbsp;1</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Group share in profit / (loss)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change in consolidation scope</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">19</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effects of changes in foreign exchange rates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at December&nbsp;31</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group holds a 49.85% interest in a joint-venture named Rhenaroll S.A. (located in Biesheim, France),
specialized in the chrome-plating, grinding and repairing of rolling mills&#146; rolls and rollers. As of December&nbsp;31, 2014, the revenue of Rhenaroll amounted to &#128;3&nbsp;million (&#128;3 million as of December&nbsp;31, 2013). The
entity&#146;s net income was immaterial both in 2014 and 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Quiver Ventures LLC, a joint-venture in which Constellium holds a 51%
interest, was created during the fourth quarter of 2014. This joint-venture will supply Body-in-White aluminium sheet to the North American automotive industry through a facility located in Bowling Green, Kentucky. The joint venture did not operate
in 2014, production being scheduled to start in the first half of 2016. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">These investments in joint ventures are accounted for under the equity method. Rhenaroll S.A. and
Quiver Ventures LLC are private companies and there are no quoted market prices available for their shares. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Group share of <BR>joint venture&#146;s net assets</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Group share of <BR>joint&nbsp;venture&#146;s&nbsp;profit&nbsp;/&nbsp;(loss)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>%<BR>interest</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rhenaroll S.A.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49.85</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Quiver Ventures LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Investments in joint ventures</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 27&#151;DEFERRED INCOME TAXES </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Shown in the Consolidated Statement of Financial Position:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income tax assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">190</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">177</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income tax liabilities</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Net deferred income tax assets</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>190</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>176</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table shows the changes in net deferred income tax assets (liabilities) for the years ended
December&nbsp;31, 2014 and 2013. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="65%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><I>(in millions of Euros)</I></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Balance at beginning of year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>176</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>194</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Net deferred income tax assets acquired</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income taxes recognized in the Consolidated Income Statement</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(10</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effects of changes in foreign currency exchange rates</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deferred income taxes recognized directly in other comprehensive income</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Balance at end of year</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>190</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>176</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B><B><I>Recognized&nbsp;in</I></B><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Year ended December&nbsp;31, 2014</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Opening<BR>Balance</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Acquisitions/<BR>Disposals</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Profit&nbsp;or<BR>loss</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>OCI</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>FX</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Closing<BR>balance</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Deferred tax (liabilities) / assets in relation to:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(19</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(4</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>5</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pensions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>74</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>95</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Derivative valuation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">21</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax losses Carried forward</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>12</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>52</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>55</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>176</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>190</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Mainly non-deductible provisions. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B><B><I>Recognized&nbsp;in</I></B><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Year ended December&nbsp;31, 2013</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Opening<BR>Balance</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Acquisitions/<BR>Disposals</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Profit&nbsp;or<BR>loss</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>OCI</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>FX</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Closing<BR>balance</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Deferred tax (liabilities) / assets in relation to:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>75</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(38</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>28</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pensions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>62</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>74</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Derivative valuation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>3</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax losses Carried forward</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(3</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other(A)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>26</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(22</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>52</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>194</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(10</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(1</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>176</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Mainly non-deductible provisions. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="58%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="6" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B></B><B><I>Recognized&nbsp;in</I></B><B></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD COLSPAN="2" VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman"><B>Year ended December&nbsp;31, 2012</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Opening<BR>Balance</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Acquisitions/<BR>Disposals</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Profit&nbsp;or<BR>loss</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>OCI</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>FX</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Other</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Closing<BR>balance</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Deferred tax (liabilities) / assets in relation to:</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Long-term assets</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>121</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(47</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>75</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pensions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>45</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>62</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Derivative valuation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>30</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(21</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Tax losses Carried forward</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">18</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>26</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>176</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>16</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>18</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>194</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based on the expected taxable income of the entities, the Group believes that it is more likely than not that
a total of &#128;&nbsp;599 million (&#128; 516&nbsp;million at December&nbsp;31, 2013; &#128; 497&nbsp;million at December&nbsp;31, 2012) of deductible temporary differences, unused tax losses and unused tax credits will not be used. Consequently,
net deferred tax assets have not been recognized. The related tax impact of &#128; 193&nbsp;million (&#128; 153&nbsp;million at December&nbsp;31, 2013; &#128;&nbsp;175&nbsp;million at December&nbsp;31, 2012) is attributable to the following: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="59%"></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Tax losses</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(72</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(62</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In 2014</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In 2015</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In 2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">In 2019 and after (limited)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(54</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(40</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unlimited</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(15</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(18</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Unused tax credits</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Deductible temporary differences</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(121</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(91</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Depreciation and Amortization</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(8</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(9</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pensions(A)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(112</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(77</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(1</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(5</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(193</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(153</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">Increase mostly related to Switzerland and the United States. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Substantially all of the tax losses not expected to be used reside in the Netherlands, in France
and in Switzerland. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The holding companies in the Netherlands have been generating tax losses over the past three years, and these holding
companies are not expected to generate sufficient taxable profits in the foreseeable future to utilize these tax losses before they expire in the years from 2018 to 2021. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The tax losses not expected to be utilized in France relate to losses generated by certain of our French companies prior to joining the tax
consolidation group created on January&nbsp;1, 2012. Although tax losses do not expire in France and although the French tax consolidation group is profitable, tax losses generated prior to joining the tax group by loss-generating companies can only
be utilized on a stand-alone basis. It is more likely than not that these loss-making companies will not be able to utilize their losses on a stand-alone basis in the foreseeable future. Consequently, the related deferred tax assets have not been
recognized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The tax losses not expected to be utilized in Switzerland relate to losses, generated by one of our Swiss entities, that will
expire in the years from 2019 to 2021. Due to the adverse consequences of certain 2014 agreements which will terminate beyond 2019, this Swiss entity is not expected to generate sufficient taxable profits over the next coming years to utilize these
losses before they expire. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Substantially all the unrecognized deferred tax assets on deductible temporary differences on pension relate
to the United States and to the Swiss entity. In assessing the recoverability of these deferred tax assets we have carefully considered the available positive and negative evidence, and determined that the positive evidence (such as recent profits,
which were positively impacted by non-recurring favorable items) is less objectively verifiable and still carries less weight than the negative evidence (such as long history of operating losses, specific unfavorable agreements and lack of long term
visibility on future operating profits) in the assessment of long term deferred tax asset recognition. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 28&#151;COMMITMENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Non-cancellable operating leases commitments </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group leases various buildings, machinery, and equipment under operating lease agreements. Total rent expense was &#128;19&nbsp;million for
the year ended December&nbsp;31, 2014 (&#128;17 million for the year ended December&nbsp;31, 2013). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The future aggregate minimum lease
payments under non-cancellable operating leases are as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="59%"></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less than 1 year</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1 to 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">More than 5 years</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total non-cancellable operating leases minimum payments</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>50</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>38</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Capital expenditure commitments </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="14%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Property, Plant and equipment</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;132</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total capital expenditure commitments</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>132</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>46</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 29&#151;RELATED PARTY TRANSACTIONS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table describes the nature and amounts of related party transactions included in the Consolidated Income Statement. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="52%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="9%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Notes</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Revenue(A)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>2</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>6</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Metal supply(B)</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(473</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(583</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exit fees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(2</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest expense(C)</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">10,&nbsp;19</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(6</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized exchange loss on other financial items</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(7</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Unrealized exchange (loss) on financing activities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Finance costs&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(15</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Realized gains on derivatives</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="center">8</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Other Gains&#151;net</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Direct expenses related to acquisition, separation and IPO</B><B>(D)</B><B></B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B></B><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B></B>&#151;<B>&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B></B><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(15</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;&nbsp;&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">The Group sells products to certain subsidiaries and affiliates of Rio Tinto. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">Purchases of metal from certain subsidiaries and affiliates of Rio Tinto, net of changes in inventory levels, are included in Cost of sales in the Consolidated Income Statement. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(C)</TD>
<TD ALIGN="left" VALIGN="top">Until May 2012, the Group incurred interest expense on borrowings due to Apollo Omega and Bpifrance. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(D)</TD>
<TD ALIGN="left" VALIGN="top">Representing transaction costs, equity fees and other termination fees of the management agreement paid to the Owners. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following table describes the nature and year-end related party balances of amounts included in the Consolidated Statement of Financial
Position, none of which is secured by pledged assets or collateral. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="57%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Notes</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payables</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Transactions with Rio Tinto are unrelated since December&nbsp;12, 2013 (see NOTE 1&#151;General information).
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 30&#151;KEY MANAGEMENT REMUNERATION </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Group&#146;s key management comprises the Board members and the Executive committee members effectively present during 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Board members have been included for the period they were considered as Board member or member of the Executive Committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Key management personnel referred above as Executive committee members are those persons having authority and responsibility for planning,
directing and controlling the activities of the entity, directly or indirectly including Vice-Presidents of key activities of the Group. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The costs reported below are the compensation and benefits incurred for the Key management: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Short term benefits include their base salary plus bonus. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Directors fees include annual director fees and Board/Committee attendance fees. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Share based payments include the portion of the IFRS 2 expense allocated to key management. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Post-employment benefits mainly include pension costs. </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Termination benefits: departure costs paid in the course of the year. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As a result, the
aggregate compensation for the Group&#146;s key management is comprised of the following: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="53%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Year&nbsp;ended<BR>December&nbsp;31,<BR>2012</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Short-term employee benefits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Directors fees</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Share based payments</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Post-employment benefits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination benefits</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Employer social contributions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>13</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>11</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 31&#151;SUBSIDIARIES AND OPERATING SEGMENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following is a list of the Group&#146;s principal subsidiaries. They are wholly-owned subsidiaries of Constellium and are legal entities
for which all or a substantial portion of the operations, assets, liabilities, and cash flows are included in the continuing operations of the consolidated reporting Group as of December&nbsp;31, 2014. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:21.30pt; font-size:8pt; font-family:Times New Roman"><B>Entity</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Country</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Ownership</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Cross Operating Segment</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium France S.A.S. (A&amp;T, P&amp;ARP and Holdings&nbsp;&amp; Corporate)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Singen GmbH (AS&amp;I and P&amp;ARP)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Valais S.A. (AS&amp;I and A&amp;T)</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Switzerland</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>AS&amp;I</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Automotive USA, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">U.S.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Engley (Changchun) Automotive Structures Co Ltd.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">China</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Extrusions Decin S.r.o.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Czech&nbsp;Republic</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Extrusions Deutschland GmbH</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Extrusions France S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Extrusions Levice S.r.o.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Slovak&nbsp;Republic</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>A&amp;T</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Aviatube</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium China</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">China</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Italy S.p.A</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Italy</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Japan KK</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Japan</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Property and Equipment Company, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">U.S.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Rolled Products Ravenswood, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">U.S.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium South East Asia</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Singapore</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Ussel S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="74%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:21.30pt; font-size:8pt; font-family:Times New Roman"><B>Entity</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Country</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Ownership</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>P&amp;ARP</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Deutschland GmbH</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Neuf Brisach S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Holdings&nbsp;&amp; Corporate</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">C-TEC Constellium Technology Center</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Finance S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium France Holdco S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Germany Holdco GmbH&nbsp;&amp; Co. KG</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Germany Holdco Verwaltungs GmbH</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Holdco II B.V.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Netherlands</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Holdco III B.V.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Netherlands</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Paris S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium UK Limited</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">United&nbsp;Kingdom</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium U.S. Holdings I, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">U.S.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium U.S. Holdings II, LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">U.S.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium Switzerland AG</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Switzerland</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Constellium W S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Engineered Products International S.A.S.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Refer to NOTE 4&#151;Operating Segment Information for definition and description of operating segments. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 32&#151;SHARE EQUITY PLANS </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Share based payment
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Management equity plan (&#147;MEP&#148;) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Company implemented a MEP for Constellium management in order to align their interests with the ones of the shareholders and to enable the
selected managers to participate in the long-term growth of Constellium. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The MEP was implemented at the beginning of 2011, with an
effective date of 4&nbsp;February 2011, through the establishment of a management investment company, Omega Management GmbH&nbsp;&amp; Co. KG (&#147;Management KG&#148;). The selected managers were invited to invest as limited partners in Management
KG to have the opportunity to hold interests in the Company&#146;s shares indirectly through this limited partnership. As a consequence, the selected Company Management is holding partnership interests in due proportion to their initial investment.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">These MEP interests (related to ordinary B shares) are definitely acquired and vested by tranche according to year of service and
performance: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The service vesting is a 20% vesting per year over a 5 year period if the share equity plan participant continues employment with Constellium through the applicable vesting date, and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The performance-vesting tranches generally vest in respect of the financial year that includes the share equity plan participant&#146;s effective investment date and each of the following four financial years only if
the share equity plan participant continues employment with Constellium through the end of the applicable year and Constellium attains certain Management Adjusted EBITDA targets in respect of that financial year. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In 2014, the accelerated vesting of the remaining non-vested portion of the Class B ordinary shares was approved. As a consequence, the fully
vested Class B ordinary shares that were held through the management </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
investment company, Omega Management GmbH&nbsp;&amp; Co. KG (&#147;Management KG&#148;) have been converted into Class&nbsp;A ordinary shares. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with IFRS 2 &#147;Share based payments&#148;, the difference between the fair value at the grant date and the acquisition amount
of the Class B ordinary shares is accounted for, over the vesting period of the related MEP partnership interests, in the consolidated income statement, with a corresponding increase in equity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As of December&nbsp;31, 2014, Management KG held 2.55% of the overall share capital of Constellium, consisting of 2,675,809 Class&nbsp;A
ordinary shares. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Restricted stock unit (&#147;RSU&#148;) plans </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Free share program </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In 2013, a free share
program was granted to all employees in the U.S., France, Germany, Switzerland and the Czech Republic. Under this program, each eligible employee was granted an award of 25 RSU under the Constellium 2013 Equity Plan that will vest and be settled in
Class&nbsp;A ordinary shares on the second anniversary of our initial public offering, subject to the applicable employee remaining employed by the Company or its subsidiaries through that date. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Shareholding Retention Program </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In 2013,
a shareholding retention program was implemented in order to encourage critical members of our senior management team to maintain a significant portion of their current investment under the Company&#146;s MEP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Beneficiaries of the MEP were awarded a one-time retention award under the Constellium 2013 Equity plan consisting of a grant of RSU with a
grant date value equal to a specified percentage of the recipient&#146;s annual base salary. The RSU will vest and be settled for our Class&nbsp;A ordinary shares on the second anniversary of the date of grant, subject to the recipient remaining
continuously employed with the Group through that date and, for MEP participants, subject to the retention of at least 75% of interest in Class&nbsp;A ordinary shares under the MEP. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Equity Awards Plan </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In May 2013, two
non-employee directors were granted an award of 8,816 RSU with an aggregate grant date value of &#128;0.1 million. The service vesting tranche vests 50% on each anniversary date of the equity award grant date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In March and May 2014, three employees were granted 51,000 restricted stock units with an aggregate grant date value of &#128;1.3 million.
These RSU will vest 100% after a 2 year period if the employees are continuously employed from the grant date through the end of the 2 year period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In June 2014, four board members were granted an award of 2,205 RSU each with an aggregate grant date value of &#128;0.2 million. The service
vesting tranche vests 50% on each anniversary date of the equity award grant date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In September 2014, seven employees were granted 33,000
RSU with an aggregate grant date value of &#128;0.7&nbsp;million. These RSU will vest 100% after a 2 year period if the employees are continuously employed from the grant date through the end of the 2 year period. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Co-investment Plan </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In March 2014, the
company provided the opportunity to selected managers to invest part of their 2013 bonus paid in 2014 and to enter into a co-investment plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The selected managers who effectively decided to invest part of their bonus into ordinary shares, were granted performance based RSU in an
amount equal to a specified multiple (&#147;the vesting multiplier&#148;) of ordinary </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
shares (71,490)&nbsp;invested as part of this plan. These performance RSU will vest after a two year period from grant date if the three following conditions are simultaneously met: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The performance condition is Total Shareholder Return (TSR) related as the vesting multiplier will be in a range from 0 to 7 depending on the TSR evolution over the two year vesting period; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The selected managers must be continuously employed by the Company through the end of the 2 year vesting period; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The selected managers who have invested into this co-investment plan must continue to hold 100% of the shares they initially purchased through this program until the end of the 2 year vesting period. </TD></TR></TABLE>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Expense recognized during the year </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In
accordance with IFRS 2, an expense is recognized over the vesting period. The estimate of this expense is based upon the fair value of a Class&nbsp;A ordinary share at the grant date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The total expense related to Share Equity Plans for the year ended December&nbsp;31, 2014 and 2013, amounted to &#128;4&nbsp;million and
&#128;2&nbsp;million respectively. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Movements in the number of potential shares: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="72%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at January&nbsp;1</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>659,942</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;</B></TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right"><B>&#151;</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Granted</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92,820</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">683,206</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Forfeited</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(48,914</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(23,264</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exercised</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expired</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>As at December&nbsp;31</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B></B><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>703,848</B><B></B></TD>
<TD NOWRAP VALIGN="bottom"><B></B>(A)<B>&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>659,942</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Potential shares are summarized as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="30%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP><FONT STYLE="font-size:10pt">Grant-date</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>RSU</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Expiry&nbsp;date</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Initial<BR>number&nbsp;of<BR>shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Forfeited&nbsp;in<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Forfeited<BR>in 2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Outstanding<BR>number&nbsp;of<BR>shares</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Fair&nbsp;value<BR>per&nbsp;share&nbsp;at<BR>grant<BR>date(B)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2013&#150;05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Free&nbsp;Share&nbsp;Program</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2015-05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">192,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">192,800</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">10.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2013&#150;05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Equity&nbsp;Awards&nbsp;Plan</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2015-05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,816</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,816</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">14.7</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2013&#150;10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Shareholding&nbsp;Retention<BR>Program</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2015-10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">481,590</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(23,264</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">(48,914</TD>
<TD NOWRAP VALIGN="bottom">)&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">409,412</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">13.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total at<BR>December&nbsp;31, 2013</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>683,206</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>611,028</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2014&#150;03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Shareholding&nbsp;Retention<BR>Program</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2016-03</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">16,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">21.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2014&#150;05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Shareholding&nbsp;Retention<BR>Program</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2016-05</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">22.0</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2014&#150;06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Equity&nbsp;Awards&nbsp;plan</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2016-06</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,820</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8,820</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">30.6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2014&#150;09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Shareholding&nbsp;Retention<BR>Program</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2016-09</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">21.1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Total at<BR>December&nbsp;31, 2014</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B></B><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>776,026</B><B></B></TD>
<TD NOWRAP VALIGN="bottom"><B></B>(A)<B>&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(23,264</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>(48,914</B></TD>
<TD NOWRAP VALIGN="bottom"><B>)&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>703,848</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(A)</TD>
<TD ALIGN="left" VALIGN="top">The co-investment plan is not included as the number of RSU is unknown until the end of the vesting period. The potential rights associated to each of the 71,490 ordinary shares invested as part of this plan has been
evaluated using the Monte Carlo method, and amounted to $76.60 per share at grant date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(B)</TD>
<TD ALIGN="left" VALIGN="top">Fair value is the quoted market price at grant date. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left"><a href="#toc">Table of Contents</a></h5>

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 33&#151;DISPOSALS, DISPOSALS GROUP CLASSIFIED AS HELD FOR SALE </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">In October 2014, the sale of Constellium Sabart in France was completed generating a loss recorded in Other Gains / (Losses). (See NOTE 8&#151;Other Gains / (Losses)&#151;Net) </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">The Group continues the disposal plan of another company from the Aerospace and Transportation operating segment; and therefore kept the related assets and liabilities as held for sale. As at December&nbsp;31, 2014, the
committed disposal plan is still in progress. </TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="66%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:68.50pt; font-size:8pt; font-family:Times New Roman"><B></B><I>(in millions of Euros)</I><B></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2014</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>At&nbsp;December&nbsp;31,<BR>2013</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Assets of disposal group classified as held for sale</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inventories</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade receivable and other</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash and Cash equivalents</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;14</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>&nbsp;&nbsp;&nbsp;&nbsp;21</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Liabilities&nbsp;of&nbsp;disposal&nbsp;group&nbsp;classified&nbsp;as&nbsp;held&nbsp;for&nbsp;sale</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Pensions and other post-employment benefit obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trade payable and other</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#151;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>8</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"><B>&nbsp;</B></TD>
<TD VALIGN="bottom" ALIGN="right"><B>9</B></TD>
<TD NOWRAP VALIGN="bottom"><B>&nbsp;&nbsp;</B></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:3.00px double #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>NOTE 34&#151;SUBSEQUENT EVENTS </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On January&nbsp;5, 2015, Constellium N.V. completed its acquisition of Wise Metals Intermediate Holdings LLC (&#147;Wise&#148;), a private
aluminium sheet producer located in Muscle Shoals, Alabama. With the closing of the acquisition, Constellium now has access to 450,000 metric tons (kt) of hot mill capacity from the widest strip mill in North America, reinforcing its position on the
can market and positioning Constellium to continue to grow in the North American Body-in-White market. (See NOTE 3&#151;Acquisition of Wise entities). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">F-73 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.7
<SEQUENCE>2
<FILENAME>d908770dex47.htm
<DESCRIPTION>EX-4.7
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.7</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.7 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSTELLIUM N.V. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">certain Guarantors from time to time parties hereto </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$400,000,000 5.750% Senior Notes due 2024 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDENTURE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of May&nbsp;7, 2014 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK
TRUST COMPANY AMERICAS, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Trustee </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 1 DEFINITIONS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules of Construction</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acts of Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 2 THE SECURITIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form and Dating</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution and Authentication</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registrar and Paying Agent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Paying Agent to Hold Money in Trust</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holder Lists</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer and Exchange</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Temporary Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cancellation</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulted Interest</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CUSIP Numbers, ISINs, etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Calculation of Principal Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Amounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 3 REDEMPTION</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Applicability of Article</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices to Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selection of Securities to Be Redeemed</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Optional Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Notice of Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit of Redemption Price</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Securities Redeemed in Part</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 4 COVENANTS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reports and Other Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Restricted Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend and Other Payment Restrictions Affecting Subsidiaries</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Asset Sales</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions with Affiliates</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change of Control</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compliance Certificate</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liens</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance of Office or Agency</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination and Suspension of Certain Covenants</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 5 SUCCESSOR COMPANY</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Issuer May Merge or Transfer Assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 6 DEFAULTS AND REMEDIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acceleration</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Past Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Control by Majority</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Suits</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of the Holders to Receive Payment</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collection Suit by Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee May File Proofs of Claim</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Priorities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Undertaking for Costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Stay or Extension Laws</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 7 TRUSTEE</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Duties of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Individual Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee&#146;s Disclaimer</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Affiliate Subordination Agreement</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compensation and Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Trustee by Merger</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 8 DISCHARGE OF INDENTURE; DEFEASANCE</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Discharge of Liability on Securities; Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions to Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Application of Trust Money</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment to Issuer</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnity for U.S. Government Obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reinstatement</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 9 AMENDMENTS AND WAIVERS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Without Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">With Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revocation and Effect of Consents and Waivers</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notation on or Exchange of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee to Sign Amendments</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment for Consent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Voting Terms; Calculation of Principal Amount</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 10 GUARANTEES</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Liability</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Automatic Termination of Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Waiver</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Modification</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution of Supplemental Indenture for Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-Impairment</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 11 MISCELLANEOUS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ranking</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certificate and Opinion as to Conditions Precedent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Statements Required in Certificate or Opinion</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Securities Disregarded</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules by Trustee, Paying Agent and Registrar</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legal Holidays</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GOVERNING LAW</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consent to Jurisdiction and Service</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Recourse Against Others</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">USA PATRIOT Act Section 326 Customer Identification Program</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Multiple Originals</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Table of Contents; Headings</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indenture Controls</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appendix&nbsp;A</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions Relating to Original Securities and Add-On Securities</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EXHIBIT INDEX</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;A</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Original Security</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;B</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Supplemental Indenture</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">INDENTURE dated as of May&nbsp;7, 2014 among CONSTELLIUM N.V., a public company with limited
liability (<I>naamloze vennootschap</I>) incorporated under the laws of The Netherlands (the &#147;Issuer&#148;), the GUARANTORS (as defined herein) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee (the &#147;Trustee&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of
(a)&nbsp;$400,000,000 aggregate principal amount of the Issuer&#146;s 5.750% Senior Notes due 2024 issued on the date hereof (the &#147;Original Securities&#148;) and (b)&nbsp;any additional Securities that may be issued after the date hereof in the
form of Exhibit A (the &#147;Add-On Securities&#148; (all such securities in clauses (a)&nbsp;and (b)&nbsp;being referred to collectively as the &#147;Securities&#148;). Subject to the conditions and compliance with the covenants set forth herein,
the Issuer may issue an unlimited aggregate principal amount of Add-On Securities without the consent of Holders. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.01
<U>Definitions</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Facility&#148; means the ABL Credit Agreement, dated as of May&nbsp;25, 2012, among Constellium Holdco II
B.V., Constellium U.S. Holdings I, LLC, Constellium Rolled Products Ravenswood, LLC, as borrower, the lenders from time to time party thereto Deutsche Bank Trust Company Americas, as administrative agent and collateral agent, as amended by the First
Amendment dated as of January&nbsp;7, 2013, the Second Amendment dated as of March&nbsp;20, 2013, and the Third Amendment dated as of October&nbsp;1, 2013, and as may be further amended, restated, supplemented, waived, replaced (whether or not upon
termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement extending the maturity thereof, refinancing, replacing or otherwise
restructuring all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements or increasing the amount loaned or issued thereunder or altering the maturity thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Obligors&#148; means the borrower and the guarantors under the ABL Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Acquired Indebtedness&#148; means, with respect to any specified Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Indebtedness, Preferred Stock or Disqualified Stock of any other Person existing at the time such other Person is merged,
consolidated or amalgamated with or into or became a Restricted Subsidiary of such specified Person, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Indebtedness,
Preferred Stock or Disqualified Stock secured by a Lien encumbering any asset acquired by such specified Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Affiliate&#148; of
any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, &#147;control&#148; (including, with correlative
meanings, the terms &#147;controlling,&#148; &#147;controlled by&#148; and &#147;under common control with&#148;), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Applicable Premium&#148; means, with respect to any Security on any applicable redemption
date, the greater of the following, as calculated by the Issuer: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 1% of the then outstanding principal amount of the
Security; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the excess of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the present value at such redemption date of (i)&nbsp;the redemption price of the Security, at May&nbsp;15, 2019 (such
redemption price being set forth in Paragraph 5 of the Security plus (ii)&nbsp;all required interest payments due on the Security through May&nbsp;15, 2019 (excluding accrued but unpaid interest), computed using a discount rate equal to the Treasury
Rate as of such redemption date plus 50 basis points; over </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the then outstanding principal amount of such Security.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Asset Sale&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions)
of property or assets (including by way of a Sale/Leaseback Transaction) outside the ordinary course of business of the Issuer or any Restricted Subsidiary of the Issuer (each referred to in this definition as a &#147;disposition&#148;) or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issuance or sale of Equity Interests (other than directors&#146; qualifying shares and shares issued to foreign
nationals or other third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Issuer or another Restricted Subsidiary of the Issuer) (whether in a single transaction or a series of related transactions),
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a disposition of Cash Equivalents or Investment Grade Securities or damaged, obsolete or worn out property or equipment in
the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) transactions permitted pursuant to Section&nbsp;5.01 or any disposition that
constitutes a Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any Restricted Payment or Permitted Investment that is permitted to be made, and is
made, under Section&nbsp;4.04; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any disposition of assets or issuance or sale of Equity Interests of any Restricted
Subsidiary, which assets or Equity Interests so disposed or issued have an aggregate Fair Market Value of less than &#128;10.0 million; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) any disposition of property or assets, or the issuance of securities, by a
Restricted Subsidiary of the Issuer to the Issuer or by the Issuer or a Restricted Subsidiary of the Issuer to a Restricted Subsidiary of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) any exchange of assets (including a combination of assets and Cash Equivalents) for assets related to a Similar Business of
comparable or greater market value or usefulness to the business of the Issuer and its Restricted Subsidiaries as a whole, as determined in good faith by the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) foreclosure or any similar action with respect to any property or any other assets of the Issuer or any of its Restricted
Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the lease, assignment or sublease of any real or personal property in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) any sale of inventory or other assets in the ordinary course of business, or which are no longer useful or necessary in the
operation of the business of the Issuer and its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any grant in the ordinary course of business
of any license of patents, trademarks, know-how or any other intellectual property; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) an issuance of Capital Stock
pursuant to an equity incentive or compensation plan approved by the Board of Directors of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) dispositions in
connection with Permitted Liens; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any financing transaction with respect to property built or acquired by the Issuer or
any Restricted Subsidiary after the Issue Date, including any Sale/Leaseback Transaction or asset securitization permitted by this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Issuer or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made
as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or other
claims of any kind; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) a transfer of accounts receivable and related assets of the type specified in the definition of
&#147;Receivables Financing&#148; (or a fractional undivided interest therein) by a Receivables Subsidiary or any Restricted Subsidiary (w)&nbsp;under the Factoring Facilities, (x)&nbsp;in a Qualified Receivables Financing, (y)&nbsp;under any other
factoring on arm&#146;s-length terms or (z)&nbsp;in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) the sale of any property in a Sale/Leaseback Transaction within six months of
the acquisition of such property; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Credit Facilities&#148; means the credit facilities described in clauses (i)&nbsp;and (ii)&nbsp;of the definition of Credit
Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Indebtedness&#148; means any and all amounts payable under or in respect of any Credit Facilities provided by bank
or other institutional lenders (excluding Credit Facilities providing for publicly offered or privately placed capital markets indebtedness), as amended, restated, supplemented, waived, replaced, restructured, repaid, refunded, refinanced or
otherwise modified from time to time (including after termination of the Bank Credit Facilities), including principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization
relating to the Issuer whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, guarantees and all other amounts payable thereunder or in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Board of Directors&#148; means, as to any Person, the board of directors or managers, as applicable, of such Person (or, if such Person
is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Borrowing Base&#148; means, as of any date, an amount equal to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 85% of the face amount of accounts receivable owned by the ABL Obligors as of the end of the most recent fiscal quarter
preceding such date; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the lesser of (i)&nbsp;80% of the lower of cost or market and (ii)&nbsp;85% of net orderly
liquidation value, in each case, of inventory owned by the ABL Obligors as of the end of the most recent fiscal quarter preceding such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Business Day&#148; means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or required by
law to close in New York City, London or Amsterdam. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capital Stock&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) in the case of a corporation, corporate stock or shares; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capitalized Lease Obligation&#148; means, at the time any determination thereof is to be
made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cash Equivalents&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) All cash, including without limitation U.S. dollars, pounds sterling, euros, Swiss franc, the national currency of any
member state in the European Union or such other currencies held by the Issuer or any Restricted Subsidiary from time to time in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Securities and other readily marketable obligations issued or directly and fully guaranteed or insured by the U.S.
government or any country that is a member of the European Union or Switzerland, or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) certificates of deposit, time deposits and Eurodollar time deposits with maturities of one year or less from the date of
acquisition, bankers&#146; acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250.0 million; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) repurchase obligations for underlying securities of the types described in clauses (2)&nbsp;and (3)&nbsp;above entered into
with any financial institution meeting the qualifications specified in clause (3)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) commercial paper issued
by a corporation (other than an Affiliate of the Issuer) rated at least &#147;A-2&#148; or the equivalent thereof by Moody&#146;s or S&amp;P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case
maturing within one year after the date of acquisition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) readily marketable direct obligations issued by any state of
the United States of America or any political subdivision thereof having an Investment Grade Rating in each case with maturities not exceeding two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Indebtedness issued by Persons with a rating of &#147;A&#148; or higher from S&amp;P or &#147;A-2&#148; or higher from
Moody&#146;s in each case with maturities not exceeding two years from the date of acquisition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) investment funds
investing at least 95% of their assets in securities of the types described in clauses (1)&nbsp;through (7)&nbsp;above; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) investments with average maturities of 12 months or less from the date of acquisition in mutual funds rated AA- (or the
equivalent thereof) or better by S&amp;P or Aaa3 (or the equivalent thereof) or better by Moody&#146;s; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10)
marketable short-term money market and similar highly liquid funds either (i)&nbsp;having assets in excess of $250,000,000 or (ii)&nbsp;having a rating of at least A-2 or P-2 from either S&amp;P or Moody&#146;s (or, if at any time neither S&amp;P
nor Moody&#146;s shall be rating such obligations, an equivalent rating from another nationally recognized rating service). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Change of Control&#148; means the occurrence of any of the following events: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all the assets of the
Issuer and its Subsidiaries, taken as a whole, to a Person; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the Issuer becomes aware (by way of a report or any
other filing pursuant to Section&nbsp;13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section&nbsp;13(d)(3) or Section&nbsp;14(d)(2) of the Exchange Act, or any
successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by way
of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the total voting power of the Voting Stock of the
Issuer; <I>provided</I>, <I>however</I>, that any entity (including Constellium N.V. upon a sale of all or substantially all of its assets to a Subsidiary in a transaction permitted under this Indenture, if at such time Constellium N.V. meets the
requirements of this proviso) that conducts no material activities other than holding Equity Interests of the Issuer or any direct or indirect parent of the Issuer and has no other material assets or liabilities other than such Equity Interests will
not be considered a &#147;Person or group&#148; for purposes of this clause (2). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Code&#148; means the United States Internal
Revenue Code of 1986, as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Interest Expense&#148; means, with respect to any Person for any period, the sum,
without duplication, of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) consolidated interest expense of such Person and its Restricted Subsidiaries for such period,
to the extent such expense was deducted in computing Consolidated Net Income (including amortization of original issue discount, noncash interest payments, the interest component of Capitalized Lease Obligations, and net payments and receipts (if
any) pursuant to interest rate Hedging Obligations (but excluding unrealized mark-to-market gains and losses attributable to such Hedging Obligations, amortization of deferred financing fees and expensing of any bridge or other financing fees), and
excluding interest expense attributable to the Factoring Facilities or any Qualified Receivables Financing or other factoring arrangements (to the extent accounted for as interest expense under IFRS), amortization of deferred financing fees, debt
issuance costs, commissions, fees and expenses and expensing of any bridge commitment or other financing fees); plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2)
consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued; plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Preferred Stock dividends paid in cash in respect of Disqualified Stock of
the Issuer held by persons other than the Issuer or a Restricted Subsidiary; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Commissions based on draws,
discounts and yield (but excluding other fees and charges, including commitment fees) Incurred in connection with any Receivables Financing which are payable to Persons other than the Issuer and its Restricted Subsidiaries; minus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) interest income for such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of all
Consolidated Total Indebtedness, less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA of such Person for the four full
fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and paragraphs 2, 3, and 4 thereof shall
apply to the calculation of Consolidated Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be
held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Net Income&#148;
means, with respect to any Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis; <I>provided</I>, <I>however</I>, that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any net after-tax extraordinary, nonrecurring or unusual gains or losses or income, expenses or charges (less all fees and
expenses relating thereto), including, without limitation, any (i)&nbsp;severance, relocation or other restructuring expenses, any expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for
alternate uses and fees, expenses or charges relating to new product lines, plant shutdown costs, curtailments or modifications to pension and post-retirement employee benefits plans, excess pension charges, acquisition integration costs, facilities
opening costs, project start-up costs, business optimization costs, signing, retention or completion bonuses and (ii)&nbsp;any fees, expenses or charges related to any Equity Offering, Permitted Investment, acquisition, disposition, receivables
financing, recapitalization or issuance, repayment, incurrence, refinancing, amendment or modification of Indebtedness permitted to be Incurred by this Indenture (in each case, whether or not successful), in each case, shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any increase in amortization or depreciation or any non-cash charges, in each case resulting from purchase accounting in
connection with any acquisition that is consummated after the Issue Date shall be excluded; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the Net Income for such period shall not include the cumulative effect of a
change in accounting principles during such period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any net after-tax income or loss from disposed, abandoned,
transferred, closed or discontinued operations and any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business
dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Issuer) shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of Indebtedness or Hedging Obligations or other derivative instruments shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) the Net
Income for such period of any Person that is not a Subsidiary of such Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or
distributions or other payments paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) solely for the purpose of determining the amount available for Restricted Payments under clause (1)&nbsp;of the definition
of Cumulative Credit, the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its
Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree,
order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restrictions with respect to the payment of dividends or similar distributions have been legally waived; provided that the
Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent not already
included therein; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any non-cash impairment charges or asset write-offs resulting from the application of IFRS and the
amortization of intangibles arising pursuant to IFRS shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any non-cash expense realized or resulting
from stock option plans, employee benefit plans or post-employment benefit plans, grants and sales of stock, stock appreciation or similar rights, stock options or other rights of such Person or any of its Restricted Subsidiaries shall be excluded;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) any (a)&nbsp;severance or relocation costs or expenses, (b)&nbsp;one-time non-cash compensation charges, (c)&nbsp;the
costs and expenses after the Issue Date related to employment of terminated employees, (d)&nbsp;costs or expenses realized in connection with, resulting from or in anticipation of the Transactions or (e)&nbsp;costs or expenses realized in connection
with or resulting from stock appreciation or similar rights, stock options or other rights existing on the Issue Date of officers, directors and employees, in each case of such Person or any of its Restricted Subsidiaries, shall be excluded; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) accruals and reserves that are established or adjusted in accordance with
IFRS or changes as a result of the adoption or modification of accounting policies shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) (a)(i) the
non-cash portion of &#147;straight-line&#148; rent expense shall be excluded and (ii)&nbsp;the cash portion of &#147;straight-line&#148; rent expense which exceeds the amount expensed in respect of such rent expense shall be included and
(b)&nbsp;non-cash gains, losses, income and expenses resulting from fair value accounting shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14)
unrealized gains and losses relating to hedging transactions and mark-to-market of Indebtedness denominated in foreign currencies shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) solely for the purpose of calculating Restricted Payments, the difference, if positive, of the Consolidated Taxes of the
Issuer calculated in accordance with IFRS and the actual Consolidated Taxes paid in cash by the Issuer during any Reference Period shall be included; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) non-cash charges for deferred tax asset valuation allowances shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) an adjustment (which may be a negative number) shall be made to the extent that Net Income was calculated on an average
cost basis with respect to inventory, in order to reflect the additional Net Income (or the reduction to Net Income) which would have been recognized using an approximation of last in first out inventory accounting; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) any loss on sale of receivables and related assets in a Factoring Facility or other Qualified Receivables Financing shall
be excluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for the purpose of Section&nbsp;4.04 only, there shall be excluded from Consolidated Net
Income any dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries of the Issuer or a Restricted Subsidiary of the Issuer to the extent such dividends, repayments or transfers increase the amount of
Restricted Payments permitted under clauses (5)&nbsp;and (6)&nbsp;of the definition of &#147;Cumulative Credit.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated
Non-cash Charges&#148; means, with respect to any Person for any period, the aggregate depreciation, amortization, accretion and other non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person
for such period on a consolidated basis and otherwise determined in accordance with IFRS, but excluding any such charge which consists of or requires an accrual of, or cash reserve for, anticipated cash charges for any future period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Secured Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of
all Consolidated Total Indebtedness secured by a Lien (other than any Indebtedness under the Factoring Facilities or any Qualified Receivables </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Financing), less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA
of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and
paragraphs 2, 3, and 4 thereof shall apply to the calculation of the Consolidated Secured Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation
date (with any proceeds that are initially to be held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Taxes&#148; means provision for taxes based on income, profits or capital, including, without limitation, state, franchise
and similar taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Total Indebtedness&#148; means, as of any date of determination, the aggregate principal amount of
consolidated funded Indebtedness for borrowed money (which, for the avoidance of doubt, shall not include any Indebtedness under the Factoring Facilities or any Qualified Receivables Financing) of the Issuer and its Restricted Subsidiaries
outstanding on such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Contingent Obligations&#148; means, with respect to any Person, any obligation of such Person
guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (&#147;primary obligations&#148;) of any other Person (the &#147;primary obligor&#148;) in any manner, whether directly or indirectly, including, without
limitation, any obligation of such Person, whether or not contingent: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to advance or supply funds: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) for the purchase or payment of any such primary obligation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to purchase property, securities or services primarily for the purpose of assuring the owner
of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Credit Facilities&#148; means (i)&nbsp;the Revolving Credit Facility, dated on or about the Issue Date, among the Issuer, the guarantors
named therein, the financial institutions named therein, and Deutsche Bank AG New York Branch as Administrative Agent, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or
otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement or indenture extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the
Indebtedness under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or indenture or indentures or increasing the amount loaned or issued thereunder or altering the maturity thereof (the
&#147;Revolving Credit Facility&#148;); (ii)&nbsp;Indebtedness </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Incurred and outstanding pursuant to clause (i)&nbsp;of Section&nbsp;4.03(b) (it being understood that Indebtedness that is Incurred pursuant to such clause and subsequently reclassified as being
Incurred pursuant to a different clause in accordance with this Indenture will not be deemed outstanding pursuant to such clause (a)); and (iii)&nbsp;whether or not the Credit Facilities referred to in clauses (i)&nbsp;or (ii)&nbsp;remain
outstanding, if designated by the Issuer to be included in the definition of &#147;Credit Facilities,&#148; one or more (A)&nbsp;debt facilities or commercial paper facilities, providing for revolving credit loans, term loans, receivables financing
(including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables) or letters of credit, (B)&nbsp;debt securities, indentures or other forms of debt financing (including
convertible or exchangeable debt instruments or bank guarantees or bankers&#146; acceptances), or (C)&nbsp;instruments or agreements evidencing any other Indebtedness, in each case, with the same or different borrowers or issuers and, in each case,
as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cumulative Credit&#148; means the sum of (without duplication): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 50% of the Consolidated Net Income of the Issuer for the period (taken as one accounting period, the &#147;Reference
Period&#148;) from April&nbsp;1, 2014 to the end of the Issuer&#146;s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, in the case such Consolidated Net Income for
such period is a deficit, minus 100% of such deficit), plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) 100% of the aggregate net proceeds, including cash and the
Fair Market Value (as determined in good faith by the Issuer) of property other than cash, received by the Issuer after the Issue Date (other than net proceeds to the extent such net proceeds have been used to Incur Indebtedness, Disqualified Stock
or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx) from the issue or sale of Equity Interests of the Issuer (excluding Refunding Capital Stock, Designated Preferred Stock, Excluded Contributions or Disqualified Stock, including Equity Interests
issued upon conversion of Indebtedness or Disqualified Stock or upon exercise of warrants or options (other than an issuance or sale to a Restricted Subsidiary of the Issuer or an employee stock ownership plan or trust established by the Issuer or
any of its Subsidiaries), plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) 100% of the aggregate amount of contributions to the capital of the Issuer received in
cash and the Fair Market Value (as determined in good faith by the Issuer) of property other than cash after the Issue Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, contributions to the extent such
contributions have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx), plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) 100% of the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the
case may be, of any Disqualified Stock of the Issuer or any Restricted Subsidiary thereof issued after the Issue Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) which has been converted into or exchanged for
Equity Interests in the Issuer (other than Disqualified Stock) or any direct or indirect parent of the Issuer (provided that, in the case of any parent, such Indebtedness or Disqualified Stock is retired or extinguished), plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) 100% of the aggregate amount received by the Issuer or any Restricted
Subsidiary in cash and the Fair Market Value (as determined in good faith by the Issuer) of property other than cash received by the Issuer or any Restricted Subsidiary from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the sale or other disposition (other than to the Issuer or a Restricted Subsidiary of the Issuer) of Restricted Investments
made by the Issuer and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments from the Issuer and its Restricted Subsidiaries by any Person (other than the Issuer or any of its Restricted Subsidiaries) and
from repayments of loans or advances (including the release of any guarantee that constituted a Restricted Investment when made) that constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the sale (other than to the Issuer or a Restricted
Subsidiary of the Issuer) of the Capital Stock of an Unrestricted Subsidiary, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a distribution or dividend from an
Unrestricted Subsidiary, plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the event any Unrestricted Subsidiary of the Issuer has been redesignated as a
Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary, the Fair Market Value (as determined in good faith by the
Issuer) of the Investment of the Issuer in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after taking into account any Indebtedness associated with
the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b) or constituted a Permitted Investment). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Default&#148; means any
event which is, or after notice or passage of time or both would be, an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Non-cash Consideration&#148;
means the Fair Market Value of non-cash consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer&#146;s Certificate,
setting forth the basis of such valuation, less the amount of Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Preferred Stock&#148; means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer (other than
Disqualified Stock), that is issued for cash (other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock,
pursuant to an Officer&#146;s Certificate, on the issuance date thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Disqualified Stock&#148; means, with respect to any Person, any Capital Stock of such
Person which, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) is convertible or exchangeable for Indebtedness or Disqualified Stock of
such Person, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) is redeemable at the option of the holder thereof, in whole or in part (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case prior to 91 days after (x)&nbsp;the maturity date of the Securities or (y)&nbsp;the date the
Securities are no longer outstanding; <I>provided</I>, <I>however</I>, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof
prior to such date shall be deemed to be Disqualified Stock; <I>provided</I>, <I>further</I>, <I>however</I>, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Issuer or its Subsidiaries or by
any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer in order to satisfy applicable statutory or regulatory obligations or as a result of such
employee&#146;s termination, death or disability; <I>provided</I>, <I>further</I>, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not
Disqualified Stock shall not be deemed to be Disqualified Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;EBITDA&#148; means, with respect to any Person for any period, the
Consolidated Net Income of such Person and its Restricted Subsidiaries for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated Taxes; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Consolidated Interest Expense; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Consolidated Non-cash Charges; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) business optimization expenses and other restructuring charges or expenses (which, for the avoidance of doubt, shall
include, without limitation, the effect of inventory optimization programs, plant closures, facility consolidations, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges);
<I>provided</I> that the aggregate amount of business optimization expenses and other restructuring charges or expenses added pursuant to this clause (4)&nbsp;shall not exceed the greater of (i)&nbsp;&#128;20&nbsp;million and (ii)&nbsp;10% of EBITDA
for such period; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">less, without duplication, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) non-cash items increasing Consolidated Net Income for such period (excluding the recognition of deferred revenue or any
items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period and any items for which cash was received in a prior period). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Interests&#148; means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Offering&#148; means any public or private sale
after the Issue Date of common stock or Preferred Stock of the Issuer or any direct or indirect parent of the Issuer, as applicable (other than Disqualified Stock), other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) public offerings with respect to the Issuer&#146;s or such direct or indirect parent&#146;s common stock registered on Form
F-8 or F-4; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any such public or private sale that constitutes an Excluded Contribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Euros&#148; and &#147;&#128;&#148;each mean the single currency of the Member States of the European Union participating in the third
stage of the economic and monetary union pursuant to the Treaty on the Functioning of the European Union, as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Rate&#148; means, as of any day, the rate at which the relevant currency may be exchanged into Euros or U.S.
Dollars, as applicable, at approximately 11:00 a.m., New York City time, on such date on the Bloomberg Key Cross Currency Rates Page (or any successor page) for the relevant currency. In the event that such rate does not appear on any Bloomberg Key
Cross Currency Rates Page (or any successor page), the Exchange Rate shall be determined by the Issuer in good faith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Excluded
Contributions&#148; means the Cash Equivalents or other assets (valued at their Fair Market Value as determined in good faith by the Issuer) received by the Issuer after the Issue Date from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) contributions to its common equity capital, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the sale (other than to a Subsidiary of the Issuer or to any Subsidiary management equity plan or stock option plan or any
other management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Issuer, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case designated as Excluded Contributions pursuant to an Officer&#146;s Certificate executed by an
Officer of the Issuer on or promptly after the date such capital contributions are made or the date such Capital Stock is sold, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Factoring Facilities&#148; means the receivables purchase facilities granted to certain Subsidiaries of the Issuer pursuant to
(a)&nbsp;the agreement dated as of January&nbsp;4, 2011 between GE Factofrance S.A.S. as purchaser, Constellium France, Constellium Extrusions France and Constellium Aviatube as sellers, Constellium Holdco II B.V. and Constellium Switzerland AG,
(b)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Singen GmbH as seller, (c)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and
Constellium Extrusions Deutschland GmbH as seller and (d)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Valais AG as seller, in each case, as such agreement may be amended, restated,
supplemented, waived, replaced (whether or not upon termination, and whether with the original parties or otherwise), restructured, or otherwise modified from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fair Market Value&#148; means, with respect to any asset or property, the price which could be negotiated in an arm&#146;s-length, free
market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed Charge Coverage Ratio&#148; means, with respect to any Person for any period, the ratio of EBITDA of such Person for such period
to the Fixed Charges of such Person for such period. In the event that the Issuer or any of its Restricted Subsidiaries Incurs, repays, repurchases, retires, extinguishes, defeases, discharges or redeems any Indebtedness (other than in the case of
revolving credit borrowings or revolving advances under any receivables financing, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during the applicable period unless such Indebtedness has
been permanently repaid and has not been replaced) or issues, repurchases or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but on or prior to
the event for which the calculation of the Fixed Charge Coverage Ratio is made (the &#147;Calculation Date&#148;), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, repurchase or
redemption of Indebtedness, or such issuance, repurchase, retirement, extinguishment, defeasance, discharge or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations
and discontinued operations (as determined in accordance with IFRS), in each case with respect to an operating unit of a business, and any operational changes that the Issuer or any of its Restricted Subsidiaries has determined to make and/or made
during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date (each, for purposes of this definition, a &#147;pro forma event&#148;) shall be calculated on a pro forma
basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and operational changes (and the change of any associated fixed charge obligations and the change in EBITDA
resulting therefrom) had occurred </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or
any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued operation or operational change, in each case with respect to an operating unit
of a business, that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued
operation, merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in
good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Issuer, to reflect (1)&nbsp;operating expense reductions
and other operating improvements or synergies reasonably expected to result from the applicable pro forma event, and (2)&nbsp;all adjustments of the nature used in connection with the calculation of &#147;Adjusted EBITDA&#148; as set forth in
&#147;Summary Consolidated Historical Financial Data&#148; in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness if such Hedging Obligation has a remaining term in excess of
12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease
Obligation in accordance with IFRS. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such
Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have
been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed
Charges&#148; means, with respect to any Person for any period, the sum, without duplication, of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated
Interest Expense of such Person for such period, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all cash dividend payments (excluding items eliminated in
consolidation) on any series of Preferred Stock or Disqualified Stock of such Person and its Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Foreign
Subsidiary&#148; means a Restricted Subsidiary not organized or existing under the laws of the United States of America or any state or territory thereof or the District of Columbia. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;GAAP&#148; means generally accepted accounting principles in the United States set forth in
the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other
entity as have been approved by a significant segment of the accounting profession. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Guarantee&#148; means any guarantee of the
obligations of the Issuer under this Indenture and the Securities by any Person in accordance with the provisions of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;guarantee&#148; means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of
business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. The amount of any guarantee shall be deemed
to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof as determined in good faith by the Issuer. The term &#147;guarantee&#148; as a verb has a corresponding meaning. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Guarantor&#148; means any Person that Incurs a Guarantee; <I>provided</I> that upon the release or discharge of such Person from its
Guarantee in accordance with this Indenture, such Person ceases to be a Guarantor under this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Hedging Obligations&#148;
means, with respect to any Person, the obligations of such Person under: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) currency exchange, interest rate or commodity
Swap Agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates
or commodity prices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Holder&#148; means the Person in whose name a Security is registered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Incur&#148; means issue, assume, guarantee, incur or otherwise become liable for; <I>provided</I>, <I>however</I>, that any Indebtedness
or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;IFRS&#148; means International Financial Reporting Standards promulgated from time to time by the International Accounting Standards
Board (or any successor board or agency, together the &#147;IASB&#148;) and as adopted by the European Union and statements and pronouncements of the IASB or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession, which are in effect from time to time (other than with respect to Capitalized Lease Obligations), it being understood that, for purposes of this Indenture, all references to codified accounting standards
specifically named in this Indenture shall be deemed to include any successor, replacement, amended or updated accounting standard under IFRS;<I> </I><I>provided</I> that, at any time after adoption of GAAP by the Issuer (or the relevant reporting
entity) for its financial statements and reports for all financial reporting purposes, the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Issuer (or the relevant reporting entity) may irrevocably elect to apply GAAP for all purposes of this Indenture, and, upon any such election, references in this Indenture to IFRS shall be
construed to mean GAAP as in effect on the date of such election and thereafter from time to time; provided that (1)&nbsp;all financial statements and reports required to be provided after such election pursuant to this Indenture shall be prepared
on the basis of GAAP, (2)&nbsp;from and after such election, all ratios, computations, calculations and other determinations based on IFRS contained in this Indenture shall be computed in conformity with GAAP (other than with respect to Capitalized
Lease Obligations) with retroactive effect being given thereto assuming that such election had been made on the Issue Date, (3)&nbsp;such election shall not have the effect of rendering invalid any payment or Investment made prior to the date of
such election pursuant to Section&nbsp;4.04 or any Incurrence of Indebtedness or Liens Incurred prior to the date of such election pursuant to Section&nbsp;4.03 (or any other action conditioned on the Issuer and the Restricted Subsidiaries having
been able to Incur $1.00 of additional Indebtedness) or Section&nbsp;4.12 if such payment, Investment, Incurrence or other action was valid under this Indenture on the date made, Incurred or taken, as the case may be and (4)&nbsp;all accounting
terms and references in this Indenture to accounting standards shall be deemed to be references to the most comparable terms or standards under GAAP. The Issuer shall give written notice of any election to the Trustee and the Holders of the
Securities within 15 days of such election. For the avoidance of doubt, (i)&nbsp;solely making an election (without any other action) referred to in this definition will not be treated as an Incurrence of Indebtedness or Liens, and (ii)&nbsp;nothing
herein shall prevent the Issuer, any Restricted Subsidiary or reporting entity from adopting or changing its functional or reporting currency in accordance with IFRS, or GAAP, as applicable; provided that such adoption or change shall not have the
effect of rendering invalid any payment or Investment made prior to the date of such election pursuant to the covenant described under Section&nbsp;4.04 or any Incurrence of Indebtedness or Liens Incurred prior to the date of such adoption or change
pursuant to Section&nbsp;4.03 or Section&nbsp;4.12 (or any other action conditioned on the Issuer and the Restricted Subsidiaries having been able to Incur $1.00 of additional Indebtedness) if such payment, Investment, Incurrence or other action was
valid under this Indenture on the date made, Incurred or taken, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indebtedness&#148; means, with respect to any
Person (without duplication): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the principal and premium (if any) of any indebtedness of such Person, whether or not
contingent, (a)&nbsp;in respect of borrowed money, (b)&nbsp;evidenced by bonds, notes, debentures or similar instruments (except any such obligation issued in the ordinary course of business with a maturity date of no more than six months in a
transaction intended to extend payment terms of trade payables or similar obligations to trade creditors incurred in the ordinary course of business) or letters of credit or bankers&#146; acceptances (or, without duplication, reimbursement
agreements in respect thereof), (c)&nbsp;representing the deferred and unpaid purchase price of any property (except (i)&nbsp;any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case Incurred in the
ordinary course of business, (ii)&nbsp;any earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with IFRS and (iii)&nbsp;liabilities Incurred in the ordinary course of business),
(d)&nbsp;in respect of Capitalized Lease Obligations, or (e)&nbsp;representing any Hedging Obligations, if and to the extent that any of the foregoing indebtedness would appear as a liability on a balance sheet (excluding the footnotes thereto) of
such Person prepared in accordance with IFRS; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to the extent not otherwise included, any obligation of such Person to be
liable for, or to pay, as obligor, guarantor or otherwise, the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such Person
(whether or not such Indebtedness is assumed by such Person); <I>provided</I>, <I>however</I>, that the amount of such Indebtedness will be the lesser of: (a)&nbsp;the Fair Market Value of such asset at such date of determination, and (b)&nbsp;the
amount of such Indebtedness of such other Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that notwithstanding the foregoing, Indebtedness shall be deemed not
to include (1)&nbsp;Contingent Obligations incurred in the ordinary course of business and not in respect of borrowed money; (2)&nbsp;deferred or prepaid revenues; (3)&nbsp;purchase price holdbacks in respect of a portion of the purchase price of an
asset to satisfy warranty or other unperformed obligations of the respective seller; or (4)&nbsp;obligations under or in respect of Factoring Facilities or Qualified Receivables Financings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without giving effect to,
the effects of International Accounting Standards No.&nbsp;39 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for
any embedded derivatives created by the terms of such Indebtedness; and any such amounts that would have constituted Indebtedness under this Indenture but for the application of this sentence shall not be deemed an Incurrence of Indebtedness under
this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indenture&#148; means this Indenture as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Independent Financial Advisor&#148; means an accounting, appraisal or investment banking firm or consultant, in each case of nationally
recognized standing, that is, in the good faith determination of the Issuer, qualified to perform the task for which it has been engaged. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Rating&#148; means a rating equal to or higher than Baa3 (or the equivalent) by Moody&#146;s and BBB- (or the
equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Securities&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality
thereof (other than Cash Equivalents), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) securities that have a rating equal to or higher than Baa3 (or equivalent) by
Moody&#146;s or BBB- (or equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency, but excluding any debt securities or loans or advances between and among the Issuer and its Subsidiaries, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) investments in any fund that invests exclusively in investments of the type
described in clauses (1)&nbsp;and (2)&nbsp;which fund may also hold immaterial amounts of cash pending investment and/or distribution, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) corresponding instruments in countries other than the United States customarily utilized for high quality investments and
in each case with maturities not exceeding two years from the date of acquisition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investments&#148; means, with respect to any
Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission,
travel and similar advances to officers, employees and consultants made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and
investments that are required by IFRS to be classified on the balance sheet of the Issuer in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For
purposes of the definition of &#147;Unrestricted Subsidiary&#148; and Section&nbsp;4.04: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) &#147;Investments&#148; shall
include the portion (proportionate to the Issuer&#146;s equity interest in such Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary;
<I>provided, however</I>, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer shall be deemed to continue to have a permanent Investment in an Unrestricted Subsidiary equal to an amount (if positive) equal to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Issuer&#146;s Investment in such Subsidiary at the time of such redesignation less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the portion (proportionate to the Issuer&#146;s equity interest in such Subsidiary) of the Fair Market Value of the net
assets of such Subsidiary at the time of such redesignation; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any property transferred to or from an Unrestricted
Subsidiary shall be valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities are originally issued. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issuer&#148; means the party named as such in the Preamble to this Indenture until a successor replaces it and, thereafter, means the
successor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Lien&#148; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any
kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to give a
security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction); provided that in no event shall an operating lease or an option or an agreement to
sell be deemed to constitute a Lien. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Moody&#146;s&#148; means Moody&#146;s Investors Service, Inc. or any successor to the
rating agency business thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Income&#148; means, with respect to any Person, the net income (loss) of such Person,
determined in accordance with IFRS and before any reduction in respect of Preferred Stock dividends. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Proceeds&#148; means the
aggregate cash proceeds received by the Issuer or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash
Consideration received in any Asset Sale and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring
Person of Indebtedness relating to the disposed assets or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including,
without limitation, legal, accounting and investment banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax
credits or deductions and any tax sharing arrangements related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to Section&nbsp;4.06(b)) to be paid as
a result of such transaction, and any deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with IFRS against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer
after such sale or other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such
transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Obligations&#148; means any principal, interest, penalties, fees, indemnifications, reimbursements (including, without
limitation, reimbursement obligations with respect to letters of credit and bankers&#146; acceptances), damages and other liabilities payable under the documentation governing any Indebtedness; provided that Obligations with respect to the
Securities shall not include fees or indemnifications in favor of the Trustee and other third parties other than the Holders of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Offering Memorandum&#148; means the offering memorandum relating to the offering of the Original Securities dated April&nbsp;30, 2014.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#148; means the chairman of the board, chief executive officer, chief financial officer, president, any executive vice
president, senior vice president or vice president, the treasurer or the secretary of the Issuer or its Subsidiary, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#146;s Certificate&#148; means a certificate signed on behalf of the Issuer or its Subsidiary (as applicable) by an Officer of
the Issuer or its Subsidiary (as applicable), who must be the principal executive officer, the principal financial officer, the treasurer, the secretary or the principal accounting officer of the Issuer or its Subsidiary, as applicable, that meets
the requirements set forth in this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Opinion of Counsel&#148; means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer or any Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Pari Passu
Indebtedness&#148; means: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) with respect to the Issuer, any Indebtedness which ranks pari passu in right of payment to
the Securities; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with respect to any Guarantor, any Indebtedness which ranks pari passu in right of payment to such
Guarantor&#146;s Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Investments&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Investment in the Issuer or any Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Investment in Cash Equivalents or Investment Grade Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any Investment by the Issuer or any Restricted Subsidiary of the Issuer in a Person if as a result of such Investment
(a)&nbsp;such Person becomes a Restricted Subsidiary of the Issuer, or (b)&nbsp;such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially
all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any Investment in
securities or other assets not constituting Cash Equivalents and received in connection with an Asset Sale made pursuant to the provisions of Section&nbsp;4.06 or any other disposition of assets not constituting an Asset Sale; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any Investment existing on, or made pursuant to binding commitments existing on, the Issue Date or an Investment consisting
of any extension, modification or renewal of any Investment existing on the Issue Date; <I>provided</I> that the amount of any such Investment may only be increased as required by the terms of such Investment as in existence on the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) advances to directors, officers or employees, taken together with all other advances made pursuant to this clause (6), not
to exceed &#128;15.0&nbsp;million at any one time outstanding; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any Investment acquired by the Issuer or any of its
Restricted Subsidiaries (a)&nbsp;in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the
issuer of such other Investment or accounts receivable, (b)&nbsp;as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured
Investment in default, or (c)&nbsp;as a result of the settlement, compromise or resolution of litigation, arbitration or other disputes with Persons who are not Affiliates; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) Hedging Obligations permitted under Section&nbsp;4.03(b)(xi); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) additional Investments by the Issuer or any of its Restricted Subsidiaries having an aggregate Fair Market Value, taken
together with all other Investments made pursuant to this clause (9)&nbsp;that are at that time outstanding, not to exceed the greater of (x)&nbsp;&#128;100.0&nbsp;million and (y)&nbsp;5.5% of Total Assets at the time of such Investment (with the
Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); <I>provided</I>, <I>however,</I> that if any Investment made pursuant to this clause (9)&nbsp;is made in any Person that
is not a Restricted Subsidiary of the Issuer at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment shall thereafter be deemed to have been made pursuant to clause
(1)&nbsp;above and shall cease to have been made pursuant to this clause (9)&nbsp;for so long as such Person continues to be a Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses and other
similar expenses, in each case Incurred in the ordinary course of business or to fund such Person&#146;s purchase of Equity Interests of the Issuer or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) Investments the payment for which consists of Equity Interests of the Issuer (other than Disqualified Stock) or any direct
or indirect parent of the Issuer, as applicable; <I>provided</I>, <I>however,</I> that the issue of such Equity Interests will not increase the amount available for Restricted Payments under clause (2)&nbsp;of the definition of &#147;Cumulative
Credit&#148;; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance
with the provisions of Section&nbsp;4.07(b) (except transactions described in clauses (ii), (vi), and (viii)(B) of such Section); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing arrangements
with other Persons; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) guarantees issued in accordance with Sections 4.03 and 4.11; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or
equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) (i) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in
connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness; <I>provided</I>, <I>however,</I>
that any Investment in a Receivables Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest and (ii)&nbsp;any other Investment in connection with a Qualified Receivables Financing or
Factoring Facility; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) any Investment in an entity or purchase of a business or assets in each case
owned (or previously owned) by a customer of a Restricted Subsidiary as a condition or in connection with such customer (or any member of such customer&#146;s group) contracting with a Restricted Subsidiary, in each case in the ordinary course of
business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Investments of a Restricted Subsidiary of the Issuer acquired after the Issue Date or of an entity merged
into, amalgamated with, or consolidated with the Issuer or a Restricted Subsidiary of the Issuer in a transaction that is not prohibited by Section&nbsp;5.01 after the Issue Date to the extent that such Investments were not made in contemplation of
such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) any Investment in any Subsidiary (including any Unrestricted Subsidiary) or joint venture in connection with intercompany
cash management arrangements or related activities arising in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) Investments in Quiver
Ventures, LLC in an amount not to exceed &#128;80&nbsp;million at any time outstanding; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) guarantees by the Issuer
or any Restricted Subsidiary of operating leases or of other obligations that do not constitute Indebtedness, in each case, entered into in the ordinary course of business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Liens&#148; means, with respect to any Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) pledges or deposits by such Person under workmen&#146;s compensation laws, unemployment insurance laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits
of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Liens imposed by law, such as carriers&#146;, warehousemen&#146;s and mechanics&#146; Liens, in each case for sums not
yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Liens for taxes, assessments or other governmental charges not yet due which are being contested in good faith by
appropriate proceedings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Liens in favor of issuers of performance and surety bonds or bid bonds or with respect to
other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses,
rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
real properties or Liens incidental to the conduct of the business of such Person or to the ownership of its properties which were not Incurred in connection with Indebtedness and which do not in
the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) Liens securing Indebtedness permitted to be Incurred pursuant to clause (v)&nbsp;of Section&nbsp;4.03(b) (<I>provided</I>
that such Lien extends only to the property and/or Capital Stock, the purchase, lease, construction or improvement of which is financed thereby and any income or profits therefrom); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Liens existing on the Issue Date (other than liens that secure the Credit Facilities existing on the Issue Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) Liens on assets, property or shares of stock of a Person in existence at the time such Person becomes a Subsidiary;
<I>provided</I>, <I>however,</I> that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; <I>provided, further</I>,<I> however,</I> that such Liens may not extend to any
other property owned by the Issuer or any Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) Liens on assets or property at the time
the Issuer or a Restricted Subsidiary of the Issuer acquired the assets or property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Issuer or any Restricted Subsidiary of the Issuer;
<I>provided</I>,<I> however,</I> that such Liens are not created or Incurred in connection with, or in contemplation of, such acquisition; <I>provided further</I>, <I>however,</I> that the Liens may not extend to any other property owned by the
Issuer or any Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) Liens on assets of a Restricted Subsidiary that is not a Guarantor
securing Indebtedness of such Restricted Subsidiary permitted to be Incurred pursuant to Section&nbsp;4.03, other than Indebtedness owed to another Restricted Subsidiary that is not a Guarantor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) Liens securing Hedging Obligations not incurred in violation of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person&#146;s obligations in
respect of bankers&#146; acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of the
Issuer or any of its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) Liens arising from Uniform Commercial Code financing statement filings
regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Liens in favor of the Issuer or any Guarantor; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) Liens on accounts receivable and related assets of the type specified in the
definition of &#147;Receivables Financing&#148; Incurred in connection with a Qualified Receivables Financing and Factoring Facilities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) deposits made in the ordinary course of business to secure liability to insurance carriers; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Liens on the Equity Interests of Unrestricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) grants of software and other technology licenses in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings,
extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8)&nbsp;and (9); <I>provided</I>,<I> however,</I> that (x)&nbsp;such new Lien shall be limited to
all or part of the same property that secured the original Lien (plus improvements on such property), and (y)&nbsp;the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A)&nbsp;the outstanding
principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8)&nbsp;and (9)&nbsp;at the time the original Lien became a Permitted Lien under this Indenture, and (B)&nbsp;an amount necessary to pay any
fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21)
Liens on equipment of the Issuer or any Restricted Subsidiary granted in the ordinary course of business to the Issuer&#146;s or such Restricted Subsidiary&#146;s client at which such equipment is located; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights
related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered
into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) Liens incurred to secure cash management services or to implement cash
pooling arrangements in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) Liens arising by virtue of any statutory or common law
provisions or under the Dutch General Banking Conditions relating to banker&#146;s liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) any interest or title of a lessor under any Capitalized Lease Obligations; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint venture or
similar arrangement pursuant to any joint venture or similar agreement; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) Liens in favor of customs and revenue authorities arising as a matter of law
to secure payment of customs duties in connection with the importation of goods; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) Liens solely on any cash earnest
money deposits made by the Issuer or any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement in respect of any Investment permitted hereunder; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) Liens on securities that are the subject of repurchase agreements constituting Cash Equivalents; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) Liens on equity interests of a joint venture securing Indebtedness of such joint venture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) Liens securing Indebtedness and other Obligations under Credit Facilities Incurred pursuant to clauses (i)&nbsp;or
(ii)&nbsp;of Section&nbsp;4.03(b) (other than Indebtedness Incurred pursuant to clause (ii)&nbsp;of such paragraph if such Indebtedness is required to be unsecured pursuant to the proviso to sub-clause (B)&nbsp;thereof); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) Liens securing obligations which obligations do not exceed, at the time of incurrence thereof, the greater of
(i)&nbsp;&#128;75.0&nbsp;million and (ii)&nbsp;4.5% of Total Assets; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) Liens securing obligations in respect of
letters of credit or bank guarantees issued in the ordinary course of business, which letters of credit or bank guarantees do not secure debt for borrowed money. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Person&#148; means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company,
trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Preferred
Stock&#148; means any Equity Interest with preferential right of payment of dividends or upon liquidation, dissolution, or winding up. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Purchase Money Note&#148; means a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be irrevocable,
from the Issuer or any Subsidiary of the Issuer to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended to finance that portion of the purchase price that is not paid by cash or a contribution of
equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Qualified Receivables Financing&#148; means (1)&nbsp;the Receivables Financing pursuant to the Factoring Facilities
(including any increase in the amount thereof); and (2)&nbsp;any Receivables Financing that meets the following conditions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the Issuer shall have determined in good faith that such Receivables Financing (including financing terms, covenants,
termination events and other provisions) is in the aggregate economically fair and reasonable to the Issuer or, as the case may be, the Subsidiary in question; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all sales of accounts receivable and related assets are made at Fair Market Value; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the financing terms, covenants, termination events and other provisions
thereof shall be market terms (as determined in good faith by the Issuer) and may include Standard Undertakings and provided that in the case of Receivables Financings under clause (2), such Receivables Financings shall have no greater recourse in
any material respect to the Issuer and its Restricted Subsidiaries than the recourse to the Issuer and its Restricted Subsidiaries in the Factoring Facilities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Rating Agency&#148; means (1)&nbsp;each of Moody&#146;s and S&amp;P and (2)&nbsp;if Moody&#146;s or S&amp;P ceases to rate the
Securities for reasons outside of the Issuer&#146;s control, a &#147;nationally recognized statistical rating organization&#148; within the meaning of Section&nbsp;3(a)(62) under the Exchange Act selected by the Issuer or any direct or indirect
parent of the Issuer as a replacement agency for Moody&#146;s or S&amp;P, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Fees&#148; means
distributions or payments made directly or by means of discounts with respect to any participation interests issued or sold in connection with, and all other fees paid to a Person that is not a Restricted Subsidiary in connection with, any
Receivables Financing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Financing&#148; means any transaction or series of transactions that may be entered into by any
of the Issuer&#146;s Subsidiaries pursuant to which such Subsidiary may sell, convey or otherwise transfer to any other Person, or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of such
Subsidiary, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts
receivable and other assets, in each case, which are customarily transferred in or in respect of which security interests are customarily granted in connection with asset securitization transactions or factoring transactions involving accounts
receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Repurchase Obligation&#148; means any obligation of a seller of receivables in a Qualified Receivables
Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off-set or
counterclaim of any kind as a result of any action taken by, any failure to take any action by or any other event relating to the seller. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Subsidiary&#148; means a Wholly Owned Restricted Subsidiary of the Issuer (or another Person formed for the purposes of
engaging in Qualified Receivables Financing with the Issuer in which the Issuer or any Subsidiary of the Issuer makes an Investment and to which the Issuer or any Subsidiary of the Issuer transfers accounts receivable and related assets) which
engages in no activities other than in connection with the financing of accounts receivable of the Issuer and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any
business or activities incidental or related to such business, and which is designated by the Issuer as a Receivables Subsidiary and: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i)&nbsp;is guaranteed by the
Issuer or any other Subsidiary of the Issuer (excluding guarantees of obligations (other than the principal of and interest on, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Indebtedness) pursuant to Standard Undertakings), (ii)&nbsp;is recourse to or obligates the Issuer or any other Subsidiary of the Issuer in any way other than pursuant to Standard Undertakings,
or (iii)&nbsp;subjects any property or asset of the Issuer or any other Subsidiary of the Issuer, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Undertakings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with which neither the Issuer nor any other Subsidiary of the Issuer has any material contract, agreement, arrangement or
understanding other than on terms which the Issuer reasonably believes to be no less favorable to the Issuer or such Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuer; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to which neither the Issuer nor any other Subsidiary of the Issuer has any obligation to maintain or preserve such
entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Representative&#148; means
the trustee, agent or representative (if any) for an issue of Indebtedness; <I>provided</I> that if, and for so long as, such Indebtedness lacks such a Representative, then the Representative for such Indebtedness shall at all times constitute the
holder or holders of a majority in outstanding principal amount of obligations under such Indebtedness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Responsible Officer of the
Trustee&#148; means: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any officer within the corporate trust department of the Trustee, including any vice president,
assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively,
or to whom any corporate trust matter is referred because of such Person&#146;s knowledge of and familiarity with the particular subject; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) who shall have direct responsibility for the administration of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Investment&#148; means an Investment other than a Permitted Investment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Subsidiary&#148; means, with respect to any Person, any Subsidiary of such Person other than an Unrestricted Subsidiary of
such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Revolving Credit Facility&#148; has the meaning ascribed thereto in clause (i)&nbsp;of the definition of &#147;Credit Facilities.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Sale/Leaseback Transaction&#148; means an arrangement relating to property now owned or hereafter acquired by the Issuer or a
Restricted Subsidiary whereby the Issuer or a Restricted Subsidiary transfers such property to a Person and the Issuer or such Restricted Subsidiary leases it from such Person, other than leases between the Issuer and a Restricted Subsidiary of the
Issuer or between Restricted Subsidiaries of the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;S&amp;P&#148; means Standard&nbsp;&amp; Poor&#146;s Ratings Group or any successor to the
rating agency business thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;SEC&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Secured Indebtedness&#148; means any Indebtedness secured by a Lien. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities&#148; has the meaning given such term in the Preamble to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities Act&#148; means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Significant Subsidiary&#148; means any Restricted Subsidiary that would be a &#147;Significant Subsidiary&#148; of the Issuer within the
meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Similar Business&#148; means a business, the majority of whose
revenues are derived from the activities of the Issuer and its Subsidiaries as of the Issue Date or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary
thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Standard Undertakings&#148; means representations, warranties, covenants, indemnities and guarantees of performance
entered into by the Issuer or any Subsidiary of the Issuer that are determined by the Issuer in good faith to be customary in a Receivables Financing, including, without limitation, those relating to the servicing of assets of a Subsidiary, it being
understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Undertaking. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Stated Maturity&#148; means,
with respect to any security, the date specified in such security as the fixed date on which the final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision
providing for the repurchase of such security at the option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subordinated Indebtedness&#148; means (a)&nbsp;with respect to the Issuer, any Indebtedness of the Issuer which is by its terms
subordinated in right of payment to the Securities, and (b)&nbsp;with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms subordinated in right of payment to its Guarantee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subsidiary&#148; means, with respect to any Person, (1)&nbsp;any corporation, association or other business entity (other than a
partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (2)&nbsp;any partnership, joint venture or limited
liability company of which (x)&nbsp;more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and
(y)&nbsp;such Person or any Subsidiary of such Person is a controlling general partner or otherwise controls such entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Swap
Agreement&#148; means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or
securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for
payments only on account of services provided by current or former directors, officers, employees or consultants of the Issuer or any of the Restricted Subsidiaries shall be a Swap Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Taxes&#148; means all present and future taxes, levies, imposts, deductions, charges, duties, and withholdings and any similar
governmental charges (including interest and penalties with respect thereto) by any government or taxing authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Total
Assets&#148; means, as of any date of determination, the total consolidated assets of the Issuer and the Restricted Subsidiaries, as shown on the most recent balance sheet of the Issuer, and determined as of the time of the occurrence of any event
giving rise to the requirement to determine Total Assets and after giving pro forma effect to the occurrence of such event and all other acquisitions or dispositions of a Person, business or assets that have been completed or are subject to a
definitive agreement from the date of such balance sheet to the date of such event giving rise to the requirement to determine Total Assets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Transactions&#148; means the issuance of the Securities on the Issue Date, the repayment of certain existing credit facilities of the
Issuer with the proceeds thereof, and the payment of fees and expenses and the premium in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Treasury Rate&#148;
means, as of any redemption date of the Securities, the yield to maturity as of the earlier of (a)&nbsp;such redemption date or (b)&nbsp;the date on which the Securities are defeased or satisfied and discharged, of the most recently issued U.S.
Treasury securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519)&nbsp;(&#147;Statistical Release&#148;) that has become publicly available at least two Business Days prior to
such earlier date (or, if such Statistical Release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to May&nbsp;15, 2019; <I>provided</I>, <I>however</I>,<I></I>
that if the period from such redemption date to May&nbsp;15, 2019 is less than one year, the weekly average yield on actually traded U. S. Treasury securities adjusted to a constant maturity of one year will be used. Any such Treasury Rate shall be
obtained by the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Trustee&#148; means the party named as such in this Indenture until a successor replaces it and,
thereafter, means the successor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Uniform Commercial Code&#148; means the New York Uniform Commercial Code as in effect from time to
time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Subsidiary&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the Board
of Directors of such Person in the manner provided below; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Subsidiary of an Unrestricted Subsidiary; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Quiver Ventures, LLC and Constellium Engley (Changchung) Automotive Structures Co. Ltd. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly formed Subsidiary of the Issuer) to be
an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other Subsidiary of the Issuer that is not a Subsidiary of the
Subsidiary to be so designated; <I>provided</I>,<I> however</I>,<I></I> that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur any Indebtedness pursuant to which the lender has
recourse to any of the assets of the Issuer or any of its Restricted Subsidiaries; provided, further, however, that either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) if such Subsidiary has consolidated assets greater than $1,000, then such designation would be permitted under
Section&nbsp;4.04. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; <I>provided</I>,<I>
however</I>,<I></I> that immediately after giving effect to such designation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(x) (1) the Issuer could Incur $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a) or (2)&nbsp;the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries would be equal to or greater than such ratio for the Issuer
and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(y) no Event of Default shall have occurred and be continuing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a copy of
the resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer&#146;s Certificate certifying that such designation complied with the foregoing provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;U.S. Dollars&#148; and &#147;$&#148; each mean the lawful currency of the United States of America. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;U.S. Government Obligations&#148; means securities that are: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged, or
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) obligations of a Person controlled or supervised by and acting as an agency
or instrumentality of the United States of America, the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in each case, are not callable or redeemable at the option of
the issuer thereof, and shall also include a depository receipt issued by a bank (as defined in Section&nbsp;3(a)(2) of the Securities Act) as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or
interest on any such U.S. Government Obligations held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount
payable to the holder of such depository receipt from any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such
depository receipt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Voting Stock&#148; of any Person as of any date means the Capital Stock of such Person that is at the time
entitled to vote in the election of the Board of Directors of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Weighted Average Life to Maturity&#148; means, when
applied to any Indebtedness or Disqualified Stock, as the case may be, at any date, the quotient obtained by dividing (1)&nbsp;the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock multiplied by the amount of such payment, by (2)&nbsp;the sum of all such payments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Restricted Subsidiary&#148; is any Wholly Owned Subsidiary that is a Restricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Subsidiary&#148; of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other ownership
interests of which (other than directors&#146; qualifying shares or shares required to be held by Foreign Subsidiaries) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.02 <U>Other Definitions</U>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:17.30pt; font-size:8pt; font-family:Times New Roman">Term</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Defined</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:32.15pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">in&nbsp;Section</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Add-On Securities&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Additional Amounts&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Affiliate Transaction&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">4.07(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Appendix&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Asset Sale Offer&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Auditors&#146; Determination&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Bankruptcy Law&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Change of Control Offer&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">4.08(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;covenant defeasance option&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Covenant Suspension Event&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Custodian&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Definitive Security&#148;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Appendix&nbsp;A</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Depository&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Directive&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;DPTA&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Euroclear&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Event of Default&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Excess Proceeds&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;French Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;German Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Global Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Global Securities Legend&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbH&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbHG&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(iii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbH&nbsp;&amp; Co. KG&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Guaranteed Obligations&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.01(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;HGB&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;IAI&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;incorporated provision&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">11.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Indirect Issuance&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Initial Purchasers&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;legal defeasance option&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Management Determination&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(v)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Maximum Guaranteed Amount&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Note Register&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Notice of Default&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Offer Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.06(d)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Original Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Paying Agent&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Payor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;protected purchaser&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.08</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;QIB&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Refinancing Indebtedness&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.03(b)(xiv)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Refunding Capital Stock&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.04(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Registrar&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Regulation S&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Regulation S Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Relevant Taxing Jurisdiction&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Global Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Payments&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Securities Legend&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Retired Capital Stock&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.04(b)(ii)(A)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Reversion Date&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 501&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Securities Custodian&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Shelf Registration Statement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Company&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.01(a)(i)</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.01(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspended Covenants&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspension Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Agreement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(d)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer Restricted Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Trustee&#146;s Request&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Withholding Tax&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(d)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Unrestricted Definitive Security&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.03 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.04 <U>Rules of Construction</U>. Unless the context otherwise requires: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a term has the meaning assigned to it; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &#147;or&#148; is not exclusive; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) &#147;including&#148; means including without limitation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) words in the singular include the plural and words in the plural include the singular; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the Issuer dated such date prepared in accordance with IFRS; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the principal amount of any Preferred Stock shall be (i)&nbsp;the maximum liquidation value of such Preferred Stock or
(ii)&nbsp;the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations
hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with IFRS. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) For purposes of determining compliance with any Euro-denominated restriction or basket limitation under Sections 4.03,
4.04, 4.06 and 4.12 hereof (including any defined terms referenced and utilized in such sections), as of any time of determination, any such basket limitation shall be deemed to be the greater of (i)&nbsp;the applicable Euro-denominated amount set
forth in this Indenture and (ii)&nbsp;the amount of Euro obtained by multiplying the applicable Euro-denominated amount set forth in this Indenture by 1.3774 (which was the dollar-to-Euro Exchange Rate as of March&nbsp;31, 2014)
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
and then multiplying the result by a number equal to the amount of Euros into which 1 U.S.&nbsp;Dollar may be converted using the Exchange Rate in effect at the time of determination. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) For purposes of determining compliance with Sections 4.03, 4.04, 4.06 and 4.12 hereof, utilized amounts under any such
covenant or basket shall be tracked in Euro irrespective of what currency is actually used to make the Incurrence. When an Incurrence is made in a currency other than Euro, the amount of Euro for purposes of the applicable covenant(s) shall be
calculated based on the relevant currency Exchange Rate in effect on the date such Incurrence was made, <I>provided</I> that if Indebtedness is Incurred to refinance other Indebtedness denominated in a currency other than Euros, and such refinancing
would cause the applicable Euro-denominated restriction to be exceeded if calculated at the relevant currency Exchange Rate in effect on the date of such refinancing, such Euro-denominated restriction shall be deemed not to have been exceeded so
long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.05 <U>Acts of Holders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Proof of execution of any such instrument or of a writing appointing any such
agent, or the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section&nbsp;7.01) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section&nbsp;1.05.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a
witness of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof.
Where such execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such
instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The ownership of Securities shall be proved by the Note Register. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall
bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered or omitted by the Trustee or the
Issuer in reliance thereon, whether or not notation of such action is made upon such Security. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Issuer may set a record date for purposes of determining the identity of
Holders entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent authorized or permitted to be given or taken by Holders. Unless otherwise
specified, if not set by the Issuer prior to the first solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote, prior to such vote, any such record date shall be the later of 30 days prior to the
first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Without limiting the foregoing, a Holder entitled to take any action hereunder with regard to any particular Security may
do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. Any notice given or
action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by separate Holders of each such different part. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Without limiting the generality of the foregoing, a Holder, including DTC that is the Holder of a Global Security, may
make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and DTC that is the Holder
of a Global Security may provide its proxy or proxies to the beneficial owners of interests in any such Global Security through such depositary&#146;s standing instructions and customary practices. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The Issuer may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any
Global Security held by DTC entitled under the procedures of such depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in
this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such request, demand,
authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action shall be valid or
effective if made, given or taken more than 90 days after such record date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE SECURITIES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
2.01 <U>Amount of Securities</U>. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture on the Issue Date is $400,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, the Issuer may from time to time after the Issue Date issue Add-On Securities under this Indenture in an unlimited principal
amount, so long as (i)&nbsp;the Incurrence of the Indebtedness represented by such Add-On Securities is at such time permitted by Section&nbsp;4.03 and (ii)&nbsp;such Add-On Securities are issued in compliance with the other applicable
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
provisions of this Indenture. With respect to any Add-On Securities issued after the Issue Date (except for Securities authenticated and delivered upon registration of, transfer of, or in
exchange for, or in lieu of, other Securities pursuant to Section&nbsp;2.07, 2.08, 2.09, 2.10, 3.06, 4.08(c) or the Appendix), there shall be (a)&nbsp;established in or pursuant to a resolution of the Board of Directors and (b)&nbsp;(i)&nbsp;set
forth or determined in the manner provided in an Officer&#146;s Certificate or (ii)&nbsp;established in one or more indentures supplemental hereto, prior to the issuance of such Add-On Securities: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the aggregate principal amount of such Add-On Securities which may be authenticated and delivered under this Indenture,
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issue price and issuance date of such Add-On Securities, including the date from which interest on such Add-On
Securities shall accrue; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) if applicable, that such Add-On Securities shall be issuable in whole or in part in the
form of one or more Global Securities and, in such case, the respective depositaries for such Global Securities, the form of any legend or legends which shall be borne by such Global Securities in addition to or in lieu of those set forth in Exhibit
A hereto and any circumstances in addition to or in lieu of those set forth in Section&nbsp;2.2 of Appendix A in which any such Global Security may be exchanged in whole or in part for Add-On Securities registered, or any transfer of such Global
Security in whole or in part may be registered, in the name or names of Persons other than the depositary for such Global Security or a nominee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any of the terms of any Add-On Securities are established by action taken pursuant to a resolution of the Board of Directors, a copy of an
appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Officer&#146;s Certificate or the indenture supplemental hereto setting
forth the terms of the Add-On Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities, including any Add-On Securities, shall be treated as a single series for all
purposes under this Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.02
<U>Form and Dating</U>. Provisions relating to the Original Securities and the Add-On Securities are set forth in the Appendix, which is hereby incorporated in and expressly made a part of this Indenture. The (i)&nbsp;Original Securities and the
Trustee&#146;s certificate of authentication and (ii)&nbsp;any Add-On Securities (if issued as Transfer Restricted Securities) and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is
hereby incorporated in and expressly made a part of this Indenture. Any Add-On Securities issued other than as Transfer Restricted Securities and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A
hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer or any Guarantor is subject, if any,
or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuer). Each Security shall be dated the date of its authentication. The Securities shall be issuable only in registered form without interest coupons
and in denominations of $250,000 and any integral multiples of $1,000 in excess thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.03 <U>Execution and Authentication</U>. The Trustee shall authenticate and make
available for delivery upon a written order of the Issuer (a &#147;Written Order&#148;) in the form of an Officer&#146;s Certificate (a)&nbsp;Original Securities for original issue on the date hereof in an aggregate principal amount of $400,000,000,
consisting of $400,000,000 in initial aggregate principal amount of 5.750% Senior Notes due 2024 and (b)&nbsp;subject to the terms of this Indenture, Add-On Securities in an aggregate principal amount to be determined at the time of issuance and
specified therein. Such order shall specify the amount of the Securities to be authenticated and the date on which the original issue of Securities is to be authenticated. Notwithstanding anything to the contrary in this Indenture or the Appendix,
any issuance of Securities after the Issue Date shall be in a principal amount of at least $250,000 and integral multiples of $1,000 in excess of $250,000. One Officer shall sign the Securities for the Issuer by manual, facsimile, pdf or other
electronically transmitted signature. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on a Security no longer holds that office at the time the Trustee
authenticates the Security, the Security shall be valid nevertheless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Security shall not be valid until an authorized signatory of the
Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Securities. Any such
appointment shall be evidenced by an instrument signed by a Responsible Officer of the Trustee, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as any Registrar, Paying Agent or agent for service of notices and
demands. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.04 <U>Registrar and Paying Agent</U>. (a)&nbsp;The Issuer shall maintain (i)&nbsp;an office or agency where Securities
may be presented for registration of transfer or for exchange (the &#147;Registrar&#148;) and (ii)&nbsp;an office or agency where Securities may be presented for payment (the &#147;Paying Agent&#148;). The Registrar shall keep a register of the
Securities and of their transfer and exchange (the &#147;Note Register&#148;). The Issuer may have one or more co-registrars and one or more additional paying agents. The term &#147;Registrar&#148; includes any co-registrars. The term &#147;Paying
Agent&#148; includes the Paying Agent and any additional paying agents. The Issuer initially appoints the Trustee as Registrar, Paying Agent and the Securities Custodian with respect to the Global Securities. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to this Indenture.
The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuer shall notify the Trustee of the name and address of any such agent. If the Issuer fails to maintain a Registrar or Paying Agent, the Trustee shall
act as such and shall be entitled to appropriate compensation therefor pursuant to Section&nbsp;7.07. The Issuer or any of its domestically organized Wholly Owned Subsidiaries may act as Paying Agent or Registrar. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Issuer may remove any Registrar or Paying Agent upon written notice to such Registrar or Paying Agent and to the
Trustee; <I>provided</I>, <I>however</I>, that no such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
removal shall become effective until (i)&nbsp;if applicable, acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the Issuer and such successor
Registrar or Paying Agent, as the case may be, and delivered to the Trustee or (ii)&nbsp;notification to the Trustee that the Trustee shall serve as Registrar or Paying Agent until the appointment of a successor in accordance with clause
(i)&nbsp;above. The Registrar or Paying Agent may resign at any time upon written notice to the Issuer and the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.05
<U>Paying Agent to Hold Money in Trust</U>. On each due date of the principal of and interest on any Security, the Issuer shall deposit with each Paying Agent (or if the Issuer or a Wholly Owned Subsidiary is acting as Paying Agent, segregate and
hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay such principal and interest when so becoming due. The Issuer shall require each Paying Agent (other than the Trustee) to agree in writing that a Paying Agent
shall hold in trust for the benefit of Holders or the Trustee all money held by a Paying Agent for the payment of principal of and interest on the Securities, and shall notify the Trustee of any default by the Issuer in making any such payment. If
the Issuer or a Wholly Owned Subsidiary of the Issuer acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it in trust for the benefit of the Persons entitled thereto. The Issuer at any time may require a Paying
Agent to pay all money held by it to the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section, a Paying Agent shall have no further liability for the money delivered to the Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.06 <U>Holder Lists</U>. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available
to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Issuer shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five Business Days before each interest payment date and at such other
times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.07 <U>Transfer and Exchange</U>. The Securities shall be issued in registered form and shall be transferable only upon the surrender
of a Security for registration of transfer and in compliance with the Appendix. When a Security is presented to the Registrar with a request to register a transfer, the Registrar shall register the transfer as requested if its requirements therefor
are met. When Securities are presented to the Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. To
permit registration of transfers and exchanges, the Issuer shall execute and the Trustee shall, upon receipt of a Written Order, authenticate Securities at the Registrar&#146;s request. The Issuer may require payment of a sum sufficient to pay all
taxes, assessments or other governmental charges in connection with any transfer or exchange pursuant to this Section. The Issuer shall not be required to make, and the Registrar need not register, transfers or exchanges of Securities selected for
redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or of any Securities for a period of 15 days before a selection of Securities to be redeemed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Prior to the due presentation for registration of transfer of any Security, the Issuer, the Guarantors, the Trustee, the Paying Agent and the
Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest, if any, on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuer, any Guarantor, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any Holder of a beneficial interest in a Global Security shall, by acceptance of such beneficial
interest, agree that transfers of beneficial interests in such Global Security may be effected only through a book-entry system maintained by (a)&nbsp;the Holder of such Global Security (or its agent) or (b)&nbsp;any Holder of a beneficial interest
in such Global Security, and that ownership of a beneficial interest in such Global Security shall be required to be reflected in a book entry. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled
to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.08 <U>Replacement
Securities</U>. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Trustee shall authenticate a replacement
Security if the requirements of Section&nbsp;8-405 of the Uniform Commercial Code are met, such that the Holder (a)&nbsp;satisfies the Issuer or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful
taking and the Registrar does not register a transfer prior to receiving such notification, (b)&nbsp;makes such request to the Issuer or the Trustee prior to the Security being acquired by a protected purchaser as defined in Section&nbsp;8-303 of
the Uniform Commercial Code (a &#147;protected purchaser&#148;) and (c)&nbsp;satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the Issuer, such Holder shall furnish an indemnity bond sufficient in the judgment
of the Trustee or the Issuer to protect the Issuer, the Trustee, a Paying Agent and the Registrar from any loss that any of them may suffer if a Security is replaced. The Issuer and the Trustee may charge the Holder for their expenses in replacing a
Security (including without limitation, attorneys&#146; fees and disbursements in replacing such Security). In the event any such mutilated, lost, destroyed or wrongfully taken Security has become or is about to become due and payable, the Issuer in
its discretion may pay such Security instead of issuing a new Security in replacement thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Every replacement Security is an
additional obligation of the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The provisions of this Section&nbsp;2.08 are exclusive and shall preclude (to the extent lawful) all
other rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.09 <U>Outstanding Securities</U>. Securities outstanding at any time are all Securities authenticated by the Trustee except for
those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. Subject to Section&nbsp;11.07, a Security does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds
the Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Security is replaced pursuant to Section&nbsp;2.08 (other than a mutilated Security surrendered for replacement), it
ceases to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Security is held by a protected purchaser. A mutilated Security ceases to be outstanding upon surrender of such Security and replacement
thereof pursuant to Section&nbsp;2.08. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Paying Agent segregates and holds in trust, in accordance with this Indenture, on a
redemption date or maturity date money sufficient to pay all principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is prohibited from
paying such money to the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.10 <U>Temporary Securities</U>. In the event that Definitive Securities are to be issued under the terms of this Indenture, until
such Definitive Securities are ready for delivery, the Issuer may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of Definitive Securities but may have variations that the
Issuer considers appropriate for temporary Securities. Without unreasonable delay, the Issuer shall prepare and the Trustee shall, upon receipt of a Written Order, authenticate Definitive Securities and make them available for delivery in exchange
for temporary Securities upon surrender of such temporary Securities at the office or agency of the Issuer, without charge to the Holder. Until such exchange, temporary Securities shall be entitled to the same rights, benefits and privileges as
Definitive Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.11 <U>Cancellation</U>. The Issuer at any time may deliver Securities to the Trustee for cancellation.
The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer,
exchange, payment or cancellation and shall dispose of canceled Securities in accordance with its customary procedures. The Issuer may not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee for cancellation.
The Trustee shall not authenticate Securities in place of canceled Securities other than pursuant to the terms of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
2.12 <U>Defaulted Interest</U>. If the Issuer defaults in a payment of interest on the Securities, the Issuer shall pay the defaulted interest then borne by the Securities (plus interest on such defaulted interest to the extent lawful) in any lawful
manner. The Issuer may pay the defaulted interest to the Persons who are Holders on a subsequent special record date. The Issuer shall fix or cause to be fixed any such special record date and payment date and shall promptly mail or cause to be
mailed to each affected Holder a notice that states the special record date, the payment date and the amount of defaulted interest to be paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.13 <U>CUSIP Numbers, ISINs, etc.</U> The Issuer in issuing the Securities may use CUSIP numbers, ISINs and &#147;Common Code&#148;
numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers, ISINs and &#147;Common Code&#148; numbers in notices of redemption as a convenience to Holders; <I>provided</I>, <I>however</I>, that any such notice may state that
no representation is made as to the correctness of such numbers, either as printed on the Securities or as contained in any notice of a redemption that reliance may be placed only on the other identification numbers printed on the Securities and
that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall advise the Trustee of any change in the CUSIP numbers, ISINs and &#147;Common Code&#148; numbers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.14 <U>Calculation of Principal Amount of Securities</U>. The aggregate principal amount of the Securities, at any date of
determination, shall be the principal amount of the Securities outstanding at such date of determination. With respect to any matter requiring </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
consent, waiver, approval or other action of the Holders of a specified percentage of the principal amount of all the Securities, such percentage shall be calculated, on the relevant date of
determination, by dividing (a)&nbsp;the principal amount, as of such date of determination, of Securities, the Holders of which have so consented, by (b)&nbsp;the aggregate principal amount, as of such date of determination, of the Securities then
outstanding, in each case, as determined in accordance with the preceding sentence, Section&nbsp;2.09 and Section&nbsp;11.07 of this Indenture. Any such calculation made pursuant to this Section&nbsp;2.14 shall be made by the Issuer and delivered to
the Trustee pursuant to an Officer&#146;s Certificate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.15 <U>Additional Amounts</U>. All payments made by or on behalf of the
Issuer or any Guarantor or any successor in interest to any of the foregoing (each, a &#147;Payor&#148;) on or with respect to the Securities or any Guarantee shall be made without withholding or deduction for, or on account of, any Taxes unless
such withholding or deduction is required by law. If any deduction or withholding for, or on account of, any Taxes imposed or levied by or on behalf of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any jurisdiction from or through which payment on the Securities or any Guarantee is made or any political subdivision or
governmental authority thereof or therein having the power to tax (including the jurisdiction of any Paying Agent); or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)
any other jurisdiction in which a Payor that actually makes a payment on the Securities or its Guarantee is organized or otherwise considered to be engaged in business or resident for tax purposes, or any political subdivision or governmental
authority thereof or therein having the power to tax </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of clause (a)&nbsp;and (b), a &#147;Relevant Taxing Jurisdiction&#148;), shall at any time be
required by law to be made from any payments made with respect to the Securities or any Guarantee, including payments of principal, redemption price, interest or premium, if any, the Payor shall pay (together with such payments) such additional
amounts (the &#147;Additional Amounts&#148;) as may be necessary in order that the net amounts received in respect of such payments, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts),
shall not be less than the amounts that would have been received in respect of such payments on the Securities or the Guarantees in the absence of such withholding or deduction; provided, however, that no such Additional Amounts shall be payable for
or on account of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Taxes that would not have been so imposed or levied but for the existence of any present or
former connection between the holder (or between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor of power over, the holder, if such holder is an estate, nominee, trust, partnership, limited liability company or
corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but
excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Securities or the receipt of any payment in respect thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Taxes that would not have been so imposed or levied if the holder had complied with a reasonable request in writing of
the Payor (such request being made at a time that would enable such holder acting reasonably to comply with that request) to make a declaration of nonresidence or any other claim or filing or satisfy any
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
certification, information or reporting requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other
claim, filing or requirement is required by the applicable law, treaty, regulation or administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such
Taxes) but only to the extent such holder is legally entitled to provide such certification or documentation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any
Taxes that are payable otherwise than by withholding from a payment on the Securities or any Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any estate,
inheritance, gift, sales, excise, transfer, personal property or similar Taxes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any Taxes that are imposed pursuant to
or required to be deducted or withheld on a payment pursuant to the European Union Directive 2003/48/EC regarding the taxation of savings income (the &#147;Directive&#148;) or the Agreement between the European Community and the Swiss Confederation
dated October&nbsp;26, 2004 providing for measures equivalent to those laid down in the Directive (the &#147;Swiss Agreement&#148;) or any law implementing or complying with, or introduced in order to conform to the Directive or the Swiss Agreement;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any Taxes that are required to be deducted or withheld on a payment by a Guarantor incorporated in Switzerland and/or
having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to art 9 of the Swiss Withholding Tax Act as Swiss withholding tax under the Swiss Federal Act on the Withholding Tax of 13&nbsp;October 1965 (<I>Bundesgesetz
&uuml;ber die Verrechnungssteuer</I>); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any Taxes imposed in connection with a Security presented for payment by or on
behalf of a Holder who would have been able to avoid such Tax by presenting the relevant Security to another paying agent in a member state of the European Union; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) any Taxes payable under Sections 1471 through 1474 of the Code, as of the date of the Offering Memorandum (or any amended
or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements (including any intergovernmental agreements) entered into
pursuant thereto; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any Taxes if the holder is a fiduciary or partnership or Person other than the sole beneficial owner
of such payment and the Taxes that would otherwise give rise to such Additional Amounts would not have been imposed on such payment had the holder been the beneficiary, partner or sole beneficial owner, as the case may be, of such Security (but only
if there is no material cost or expense associated with transferring such Security to such beneficiary, partner or sole beneficial owner and no restriction on such transfer that is outside the control of such beneficiary, partner or sole beneficial
owner); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any Taxes payable pursuant to laws enacted by Switzerland providing for the taxation of payments according to
principles similar to those laid down in the draft legislation proposed by the Swiss Federal Council on 24&nbsp;August 2011, in particular, the principle to have a Person other than the Issuer withhold or deduct tax; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) any Taxes payable pursuant to an agreement between Switzerland and another
country on final withholding taxes levied by Swiss paying agents in respect of Persons resident in the other country on income of such Person on Securities booked or deposited with a Swiss paying agent (<I>Abgeltungssteuer</I>); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any combination of the above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Such Additional Amounts shall also not be payable (x)&nbsp;if the payment could have been made without such deduction or withholding if the
relevant Security had been presented for payment (where presentation is required) within 30 days after the relevant payment was first made available for payment to the holder or (y)&nbsp;to the extent where, had the beneficial owner of the relevant
Security been the Holder of such Security, such beneficial owner would not have been entitled to payment of Additional Amounts by reason of any of clauses (1)&nbsp;to (12)&nbsp;inclusive above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Payor shall (i)&nbsp;make any required withholding or deduction and (ii)&nbsp;remit the full amount deducted or withheld to the relevant
taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. Upon request, the Payor shall use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld
from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and shall provide such certified copies to the Trustee. If, notwithstanding the efforts of such Payor to obtain such receipts, the same are not obtainable,
such Payor shall provide the Trustee with other reasonable evidence of payment. Such receipts or other evidence received by the Trustee shall be made available by the Trustee to Holders on request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Payor shall be obligated to pay Additional Amounts under or with respect to any payment made on the Securities or any Guarantee, at
least 30 days prior to the date of such payment, the Payor shall deliver to the Trustee and applicable Paying Agent an Officer&#146;s Certificate stating the fact that Additional Amounts shall be payable and the amount so payable and such other
information necessary to enable the Paying Agent to pay Additional Amounts on the relevant payment date (unless such obligation to pay Additional Amounts arises less than 45 days prior to the relevant payment date, in which case the Payor shall
deliver such Officer&#146;s Certificate and such other information as promptly as practicable thereafter). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wherever in this Indenture,
the Securities or any Guarantee there is mentioned, in any context: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the payment of principal; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) redemption prices or purchase prices in connection with a redemption or purchase of Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) interest; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other amount payable on or with respect to any of the Securities or any Guarantee; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">such reference shall be deemed to include payment of Additional Amounts as described under this heading to the
extent that, in such context, Additional Amounts are, were or would be payable in respect thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Payor shall pay any present or
future stamp, court or documentary Taxes, or any other excise, property or similar Taxes that arise in any Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial resale, registration or enforcement of any Securities, Guarantee,
Indenture or any other document or instrument in relation thereto (other than a transfer of the Securities occurring after the initial resale). The foregoing obligations shall survive any termination, defeasance or discharge of this Indenture and
shall apply <I>mutatis mutandis</I> to any jurisdiction in which any successor to a Payor is organized or otherwise considered to be engaged in business or resident for Tax purposes, or any political subdivision or taxing authority or agency thereof
or therein. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REDEMPTION </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.01
<U>Redemption</U>. The Securities may be redeemed, in whole, or from time to time in part, subject to the conditions and at the redemption prices set forth in Paragraphs 5 and 6 of the form of Securities set forth in Exhibit A hereto, which are
hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to the redemption date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.02 <U>Applicability of Article</U>. Redemption of Securities at the election of the Issuer or otherwise, as permitted or required by
any provision of this Indenture, shall be made in accordance with such provision and this Article. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.03 <U>Notices to
Trustee</U>. If the Issuer elects to redeem Securities pursuant to the optional redemption provisions of Paragraph 5 or 6 of the Security, it shall notify the Trustee in writing of (i)&nbsp;the Section of this Indenture pursuant to which the
redemption shall occur, (ii)&nbsp;the redemption date, (iii)&nbsp;the principal amount of Securities to be redeemed and (iv)&nbsp;the redemption price. The Issuer shall give notice to the Trustee provided for in this paragraph at least 30 days but
not more than 60 days before a redemption date if the redemption is pursuant to Paragraph 5 of the Security, unless a shorter period is acceptable to the Trustee. Such notice shall be accompanied by an Officer&#146;s Certificate and Opinion of
Counsel from the Issuer to the effect that such redemption will comply with the conditions herein. If fewer than all the Securities are to be redeemed, the record date relating to such redemption shall be selected by the Issuer and given to the
Trustee, which record date shall be not fewer than 15 days after the date of notice to the Trustee. Any such notice may be canceled at any time prior to notice of such redemption being mailed to any Holder and shall thereby be void and of no effect.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.04 <U>Selection of Securities to Be Redeemed</U>. In the case of any redemption of less than all of the Securities, selection
of Securities for redemption will be made by the Registrar pro rata, by lot or such other manner in the case of Global Securities, as may be required by the applicable procedures of DTC; provided that no Securities of $250,000 or less shall be
redeemed in part. If any Security is to be redeemed in part only, the notice of redemption relating to such Security shall state the portion of the principal amount thereof to be redeemed. The Registrar shall make the selection from outstanding
Securities not previously </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
called for redemption. The Registrar may select for redemption portions of the principal of Securities that have denominations larger than $250,000. Securities and portions of them the Trustee
selects shall be in amounts of $250,000 or any integral multiple of $1,000 in excess thereof. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Registrar shall
notify the Issuer promptly of the Securities or portions of Securities to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.05 <U>Notice of Optional Redemption</U>.
(a)&nbsp;At least 30 days but not more than 60 days before a redemption date pursuant to Paragraph 5 or 6 of the Security, the Issuer shall mail or cause to be electronically delivered or mailed by first-class mail a notice of redemption to each
Holder whose Securities are to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such notice shall identify the Securities to be redeemed and shall state: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the redemption price and the amount of accrued interest to the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the name and address of the Paying Agent; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price, plus
accrued interest; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if fewer than all the outstanding Securities are to be redeemed, the certificate numbers and
principal amounts of the particular Securities to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial redemption; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) that, unless the Issuer defaults in making such redemption payment or the Paying Agent is prohibited from making such
payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the CUSIP number, ISIN and/or &#147;Common Code&#148; number, if any, printed on the Securities being redeemed; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN and/or &#147;Common
Code&#148; number, if any, listed in such notice or printed on the Securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) At the Issuer&#146;s written request,
the Trustee shall give the notice of redemption in the Issuer&#146;s name and at the Issuer&#146;s expense. In such event, the Issuer shall provide the Trustee with the information required by this Section at least five Business Days prior to the
date such notice is to be provided to Holders and such notice may not be canceled. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.06 <U>Effect of Notice of Redemption</U>. Once notice of redemption is mailed in
accordance with Section&nbsp;3.05, Securities called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, except as provided in paragraph 5 of the Securities. Upon surrender to the Paying
Agent, such Securities shall be paid at the redemption price stated in the notice, plus accrued interest, to, but not including, the redemption date; <I>provided</I>, <I>however</I>, that if the redemption date is after a regular record date and on
or prior to the interest payment date, the accrued interest shall be payable to the Holder of the redeemed Securities registered on the relevant record date. Failure to give notice or any defect in the notice to any Holder shall not affect the
validity of the notice to any other Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.07 <U>Deposit of Redemption Price</U>. With respect to any Securities, prior to
10:00 a.m., New York City time, on the redemption date, the Issuer shall deposit with the Paying Agent (or, if the Issuer or a Wholly Owned Subsidiary is the Paying Agent, shall segregate and hold in trust) money sufficient to pay the redemption
price of and accrued interest on all Securities or portions thereof to be redeemed on that date other than Securities or portions of Securities called for redemption that have been delivered by the Issuer to the Trustee for cancellation. On and
after the redemption date, interest shall cease to accrue on Securities or portions thereof called for redemption so long as the Issuer has deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest
on, the Securities to be redeemed, unless the Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.08 <U>Securities Redeemed in Part</U>. Upon surrender of a Security that is redeemed in part, the Issuer shall execute and the
Trustee shall, upon receipt of a Written Order, authenticate for the Holder (at the Issuer&#146;s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 4 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COVENANTS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.01 <U>Payment of Securities</U>. The Issuer shall pay the principal of and interest on the Securities on the dates and in
the manner provided in the Securities and in this Indenture. An installment of principal of or interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds as of 11:00 a.m. New York City time money
sufficient to pay all principal and interest then due and the Trustee or the Paying Agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue
installments of interest at the same rate borne by the Securities to the extent lawful. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.02 <U>Reports and Other
Information</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) So long as any Securities are outstanding and whether or not the Issuer is subject to
Section&nbsp;13(a) or 15(d) of the Exchange Act, the Issuer shall furnish to the Trustee: (i)&nbsp;within 65 days after the end of each of the first three fiscal quarters in each </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
fiscal year, quarterly reports containing unaudited financial statements (including a balance sheet and statement of income, changes in stockholders&#146; equity and cash flow) for and as of the
end of such fiscal quarter and year to date period (with comparable financial statements for the corresponding fiscal quarter and year to date period of the immediately preceding fiscal year); (ii)&nbsp;within 120 days after the end of each fiscal
year, an annual report that includes all information that would be required to be filed with the SEC on Form 20-F (or any successor form); and (iii)&nbsp;at or prior to such times as would be required to be filed or furnished to the SEC as a
&#147;foreign private issuer&#148; subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, all such other reports and information that the Issuer would have been required to file or furnish pursuant thereto; <I>provided</I>, <I>however</I>, that
to the extent that the Issuer ceases to qualify as a &#147;foreign private issuer&#148; within the meaning of the Exchange Act, whether or not the Issuer is then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, the Issuer shall either
file or furnish with the SEC (as a &#147;voluntary filer&#148; if the Issuer is not then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act) or furnish to the Trustee, so long as any Securities are outstanding, within 30 days of the
respective dates on which the Issuer would be required to file such documents with the SEC if it was required to file such documents under the Exchange Act, all reports and other information that would be required to be filed with (or furnished to)
the SEC pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act as, in the Issuer&#146;s sole discretion, either a &#147;foreign private issuer&#148; or a U.S. domestic registrant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In addition, if required by the rules and regulations of the SEC, the Issuer shall electronically file or furnish, as the
case may be, a copy of all such information and reports with the SEC for public availability within the time periods specified above. In addition, for so long as any Securities remain outstanding, the Issuer shall furnish to the Holders and
prospective investors identified by a Holder, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding the foregoing, the Issuer shall be deemed to have furnished such reports referred to in the first paragraph
of this Section&nbsp;4.02 to the Trustee and the Holders of Securities if the Issuer has filed or furnished such reports with the SEC and such reports are publicly available on the SEC&#146;s website; provided, however, that the Trustee shall have
no obligation whatsoever to determine whether or not such information, documents or reports have been so filed or furnished. Delivery of such reports, information and documents to the Trustee pursuant to this covenant is for informational purposes
only and the Trustee&#146;s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer&#146;s compliance with any of its covenants under this
Indenture (as to which the Trustee is entitled to rely exclusively on Officer&#146;s Certificates). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) So long as any
Securities are outstanding, the Issuer shall also: (1)&nbsp;not later than 10 Business Days after furnishing to the Trustee the annual and quarterly reports required by clauses (i)&nbsp;and (ii)&nbsp;of Section&nbsp;4.02(a), hold a publicly
accessible conference call to discuss such reports and the results of operations for the relevant reporting period (including a question and answer portion of the call); and (2)&nbsp;issue a press release to an internationally recognized wire
service no fewer than three Business </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Days prior to the date of the conference call required by the foregoing clause (1)&nbsp;of this paragraph, announcing the time and date of such conference call and either including all
information necessary to access the call or directing Holders of the Securities, prospective investors, broker dealers and securities analysts to contact the appropriate person at the Issuer to obtain such information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At any time that any of the Issuer&#146;s Subsidiaries that are Significant Subsidiaries are Unrestricted Subsidiaries, then the quarterly and annual
financial information required by the first paragraph of this Section&nbsp;4.02 shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto or in the &#147;Management&#146;s Discussion
and Analysis of Financial Condition and Results of Operations,&#148; of the financial condition and results of operations of the Issuer and its Restricted Subsidiaries separate from the financial condition and results of operations of the
Unrestricted Subsidiaries of the Issuer, <I>provided</I> that the Issuer will not be required to provide such separate information to the extent such Unrestricted Subsidiaries are the subject of a confidential filing of a registration statement with
the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything herein to the contrary, the Issuer will not be deemed to have failed to comply with any of its
agreements pursuant to this Section&nbsp;4.02 for purposes of Section&nbsp;6.01(d) until 30 days after the date any report hereunder is required to be filed with the SEC (or otherwise made available to Holders or the Trustee) pursuant to this
Section&nbsp;4.02. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event that the rules and regulations of the SEC permit the Issuer or any direct or indirect parent of the
Issuer to report at such parent entity&#146;s level on a consolidated basis, the Issuer may satisfy its obligations under this Section&nbsp;4.02 by furnishing financial information and reports relating to such parent; provided that the same is
accompanied by consolidating information that explains in reasonable detail the differences between the information relating to such direct or indirect parent and any of its Subsidiaries other than the Issuer and its Subsidiaries, on the one hand,
and the information relating to the Issuer, the Guarantors and the other Subsidiaries of the Issuer on a stand-alone basis, on the other hand. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.03 <U>Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</U>. (a)&nbsp;(i)&nbsp;The
Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii)&nbsp;the Issuer shall not permit any
of its Restricted Subsidiaries (other than a Guarantor) to issue any shares of Preferred Stock; <I>provided</I>, <I>however</I>, that the Issuer and any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) or issue shares
of Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred Stock, in each case if the Fixed Charge Coverage Ratio of the Issuer for the most recently ended four full fiscal quarters for which internal financial statements are
available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Stock or Preferred Stock is issued would have been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma
application of the net proceeds therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the
beginning of such four-quarter period; <I>provided</I>, <I>however</I>, that Indebtedness (including Acquired Indebtedness), Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, by all Subsidiaries other than
Guarantors pursuant to this paragraph may not , at the time Incurred, exceed the greater of (i)&nbsp;&#128;125.0&nbsp;million and (ii)&nbsp;7.0% of Total Assets at such time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) The limitations set forth in Section&nbsp;4.03(a) shall not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Incurrence by Constellium Holdco II B.V. or any Guarantor organized under the laws of the United States of Indebtedness
under the ABL Facility, in an aggregate principal amount that at the time of incurrence does not exceed the greater of (i)&nbsp;$100.0 million and (ii)&nbsp;the then applicable Borrowing Base, plus the amount necessary to pay any fees and expenses,
including premiums, related in connection with any refinancing, refunding, extension, renewal or replacement of Indebtedness under the ABL Facility; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Incurrence by the Issuer or any Guarantor of (A)&nbsp;Indebtedness under Credit Facilities in an aggregate principal
amount that at the time of Incurrence does not exceed the greater of (a)&nbsp;&#128;600.0&nbsp;million plus the amount necessary to pay any fees and expenses, including premiums, in connection with any refinancing, refunding, extension, renewal or
replacement of Indebtedness incurred pursuant to this clause (b)(ii)(A)(a) and (b)&nbsp;an aggregate principal amount that does not cause the Consolidated Secured Net Debt Ratio of the Issuer to exceed 1.50 to 1.00 as of the time of Incurrence
(<I>provided</I> that solely for the purpose of determining compliance with this covenant, any Indebtedness that is Incurred and outstanding or proposed to be Incurred pursuant to this clause (ii)&nbsp;(in the case of unsecured Indebtedness, to the
extent such unsecured Indebtedness has not been reclassified as being Incurred pursuant to another clause of this covenant in accordance with this Indenture), will be deemed to be Secured Indebtedness for purposes of calculating the Consolidated
Secured Net Debt Ratio) and (B)&nbsp;Indebtedness under Credit Facilities incurred to refinance, refund, extend, renew or replace Indebtedness Incurred and outstanding pursuant to clause (b)(ii)(A)(b); provided, however that (x)&nbsp;any such
Indebtedness that is Incurred pursuant to this clause (B)&nbsp;satisfies the requirements of sub-clauses (1)&nbsp;through (4)&nbsp;of clause (xv)&nbsp;of this Section&nbsp;4.03(b) and (y)&nbsp;if the Indebtedness being refinanced thereby is
unsecured, such Indebtedness that is Incurred pursuant to this clause (B)&nbsp;is also unsecured; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Incurrence by
the Issuer and the Guarantors of Indebtedness represented by the Original Securities and the Guarantees; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv)
Indebtedness, Disqualified Stock or Preferred Stock existing and/or committed to on the Issue Date (other than Indebtedness described in clauses (i), (ii)&nbsp;and (iii)&nbsp;of this Section&nbsp;4.03(b)), but including, for the avoidance of doubt,
Indebtedness incurred on the Issue Date in respect of the Issuer&#146;s &#128;300,000,000 4.625% Senior Notes due 2021; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Indebtedness (including Capitalized Lease Obligations) Incurred by the Issuer or any of its Restricted Subsidiaries,
Disqualified Stock issued by the Issuer or any of its Restricted Subsidiaries and Preferred Stock issued by any Restricted Subsidiaries of the Issuer to finance (whether prior to or within 270 days after) the purchase, lease, construction, repair,
replacement or improvement </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
of property (real or personal) (whether through the direct purchase of property or the Capital Stock of any Person owning such property); provided that the aggregate amount of Indebtedness,
Disqualified Stock and Preferred Stock Incurred pursuant to this clause (v)&nbsp;of this Section&nbsp;4.03(b), together with any Refinancing Indebtedness (as defined below) Incurred with respect to such Indebtedness pursuant to clause (xv)&nbsp;of
this Section&nbsp;4.03(b), shall not exceed the greater of (A)&nbsp;&#128;125.0&nbsp;million and (B)&nbsp;7.0% of Total Assets as of the date of any Incurrence pursuant to this clause (v); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Indebtedness Incurred by the Issuer or any of its Restricted Subsidiaries constituting reimbursement obligations with
respect to letters of credit and bank guarantees issued in the ordinary course of business, including without limitation letters of credit in respect of workers&#146; compensation claims, health, disability or other benefits to employees or former
employees or their families or property, casualty or liability insurance or self-insurance, and letters of credit in connection with the maintenance of, or pursuant to the requirements of, environmental or other permits or licenses from governmental
authorities, or other Indebtedness with respect to reimbursement type obligations regarding workers&#146; compensation claims; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Indebtedness arising from agreements of the Issuer or a Restricted Subsidiary providing for indemnification, adjustment
of purchase price or similar obligations, in each case, Incurred in connection with an acquisition or disposition of any business, assets or a Subsidiary of the Issuer in accordance with the terms of this Indenture, other than guarantees of
Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) Indebtedness (other than Secured Indebtedness) of the Issuer to a Restricted Subsidiary; provided that, except in
respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, any such Indebtedness owed to a Restricted Subsidiary that is not a
Guarantor shall be subordinated in right of payment to the obligations of the Issuer under the Securities; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted
Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or another Restricted Subsidiary; provided that
any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary that holds such shares of Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other
subsequent transfer of any such shares of Preferred Stock (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of Preferred Stock; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) Indebtedness (other than Secured Indebtedness) of a Restricted Subsidiary to
the Issuer or another Restricted Subsidiary; provided that, except in respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, if a
Guarantor incurs such Indebtedness to a Restricted Subsidiary that is not a Guarantor, such Indebtedness shall be subordinated in right of payment to the Guarantee of such Guarantor; provided, further, that any subsequent issuance or transfer of any
Capital Stock or any other event which results in any Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted
Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) Hedging Obligations that are not
incurred for speculative purposes and are either: (A)&nbsp;for the purpose of fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (B)&nbsp;for the purpose of
fixing or hedging currency exchange rate risk with respect to any currency exchanges; (C)&nbsp;for the purpose of fixing or hedging commodity price risk with respect to any commodity purchases or sales or (D)&nbsp;for any combination of the
foregoing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) obligations (including reimbursement obligations with respect to letters of credit and bank guarantees)
in respect of performance, bid, appeal and surety bonds and completion guarantees provided by the Issuer or any Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry practice; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary of the Issuer and Preferred Stock of any
Restricted Subsidiary of the Issuer not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified Stock
and Preferred Stock then outstanding and Incurred pursuant to this clause (xiii), does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and (B)&nbsp;5.5% of Total Assets at the time of Incurrence (it being understood that any Indebtedness
Incurred under this clause (xiii)&nbsp;shall cease to be deemed Incurred or outstanding for purposes of this clause (xiii)&nbsp;but shall be deemed Incurred for purposes of Section&nbsp;4.03(a) from and after the first date on which the Issuer, or
the Restricted Subsidiary, as the case may be, could have Incurred such Indebtedness under Section&nbsp;4.03(a) without reliance upon this clause (xiii)); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) any guarantee by (x)&nbsp;the Issuer or a Guarantor of Indebtedness or other obligations of the Issuer or any of its
Restricted Subsidiaries, or (y)&nbsp;Subsidiary that is not a Guarantor of Indebtedness or other obligations of another Subsidiary that is not a Guarantor, in each case so long as the Incurrence of such Indebtedness Incurred by the Issuer or such
Restricted Subsidiary is permitted under the terms of this Indenture; provided that if such Indebtedness is by its express terms subordinated in right of payment to the Securities or the Guarantee </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
of such Restricted Subsidiary, as applicable, any such guarantee of such Guarantor with respect to such Indebtedness shall be subordinated in right of payment to such Guarantor&#146;s Guarantee
with respect to the Securities substantially to the same extent as such Indebtedness is subordinated to the Securities or the Guarantee of such Restricted Subsidiary, as applicable; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the Incurrence by the Issuer or any of its Restricted Subsidiaries of Indebtedness or Disqualified Stock or Preferred
Stock of a Restricted Subsidiary of the Issuer which serves to refund, refinance or defease any Indebtedness Incurred or committed or Disqualified Stock or Preferred Stock issued as permitted under Section&nbsp;4.03(a) and clauses (iii), (iv), (v),
this clause (xv), (xvi), (xx)&nbsp;and (xxi)&nbsp;of this Section&nbsp;4.03(b) or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund, refinance or defease such Indebtedness, Disqualified Stock or Preferred Stock, including
any Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including tender premiums), expenses, defeasance costs and fees in connection therewith (subject to the following proviso, &#147;Refinancing Indebtedness&#148;);
<I>provided</I>, <I>however</I>, that such Refinancing Indebtedness: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) has a Weighted Average Life to Maturity at the
time such Refinancing Indebtedness is Incurred which is not less than the shorter of (x)&nbsp;the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded, refinanced or defeased and
(y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal on the Indebtedness, Disqualified Stock and Preferred Stock being refunded, refinanced or defeased that were due on or after the date that is one year
following the maturity date of any Securities then outstanding were instead due on such date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) has a Stated Maturity
which is not earlier than the earlier of (x)&nbsp;the Stated Maturity of the Indebtedness being refunded, refinanced or defeased or (y)&nbsp;91 days following the maturity date of the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to the extent such Refinancing Indebtedness refinances (a)&nbsp;Indebtedness subordinated to the Securities or the
Guarantee of such Restricted Subsidiary, as applicable, such Refinancing Indebtedness is subordinated to the Securities or the Guarantee of such Restricted Subsidiary, as applicable, or (b)&nbsp;Disqualified Stock or Preferred Stock, such
Refinancing Indebtedness is Disqualified Stock or Preferred Stock; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) is Incurred in an aggregate amount (or if issued
with original issue discount, an aggregate issue price) that is equal to or less than the aggregate amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced plus premium,
expenses, costs and fees Incurred in connection with such refinancing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) shall not include (x)&nbsp;Indebtedness of a
Restricted Subsidiary of the Issuer that is not a Guarantor that refinances </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
Indebtedness of the Issuer or a Restricted Subsidiary that is a Guarantor, or (y)&nbsp;Indebtedness of the Issuer or a Restricted Subsidiary that refinances Indebtedness of an Unrestricted
Subsidiary; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the case of any Refinancing Indebtedness Incurred to refinance Indebtedness outstanding under
clause (v)&nbsp;of this Section&nbsp;4.03(b), shall be deemed to have been Incurred and to be outstanding under such clause (v)&nbsp;of this Section&nbsp;4.03(b), and not this clause (xv)&nbsp;for purposes of determining amounts outstanding under
such clause (v)&nbsp;of this Section&nbsp;4.03(b); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) Indebtedness, Disqualified Stock or Preferred Stock of
(x)&nbsp;the Issuer or any of its Restricted Subsidiaries Incurred to finance an acquisition or (y)&nbsp;Persons that are acquired by the Issuer or any of its Restricted Subsidiaries or merged or amalgamated with or into the Issuer or any of its
Restricted Subsidiaries in accordance with the terms of this Indenture; <I>provided</I>, <I>however</I>, that after giving effect to such acquisition, merger or amalgamation, either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) (A) the Issuer would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage
Ratio test set forth in the first sentence of Section&nbsp;4.03(a) or (B)&nbsp;the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such acquisition, merger, consolidation or amalgamation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) such Indebtedness, Disqualified Stock or Preferred Stock </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) is unsecured Subordinated Indebtedness with subordination terms no more favorable to the Holders thereof than
subordination terms that are customarily obtained in connection with &#147;high-yield&#148; senior subordinated note issuances at the time of Incurrence (<I>provided</I> that, in the case of any such Subordinated Indebtedness incurred by a Foreign
Subsidiary, such subordination terms will be customary for &#147;high-yield&#148; senior subordinated note issuances by issuers resident in the jurisdiction of formation or organization of such Foreign Subsidiary, including, without limitation,
provisions for the automatic release of guarantees upon the release of the Guarantees); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) is not Incurred while a
Default exists and no Default shall result therefrom; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) does not mature (and is not mandatorily redeemable in the
case of Disqualified Stock or Preferred Stock) and does not require any payment of principal prior to the final maturity of the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) Indebtedness Incurred under (A)&nbsp;the Factoring Facilities and (B)&nbsp;any other Qualified Receivables Financing;
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; provided that such Indebtedness is extinguished within ten
Business Days of its Incurrence; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) Indebtedness of the Issuer or any Restricted Subsidiary supported by a letter of
credit or bank guarantee issued pursuant to the Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary not otherwise permitted hereunder in an
aggregate principal amount or liquidation preference, together with the aggregate principal amount or liquidation preference of any Refinancing Indebtedness Incurred with respect to such Indebtedness or Disqualified Stock pursuant to clause
(xv)&nbsp;below, not exceeding at any time outstanding 100% of the net cash proceeds received by the Issuer and the Restricted Subsidiaries since immediately after the Issue Date from the issue or sale of Equity Interests of the Issuer or any direct
or indirect parent entity of the Issuer (which proceeds are contributed to the Issuer or a Restricted Subsidiary) or cash contributed to the capital of the Issuer (in each case other than proceeds of Disqualified Stock or sales of Equity Interests
to, or contributions received from, the Issuer or any of its Subsidiaries), as determined in accordance with clauses (B)&nbsp;and (C)&nbsp;of the definition of Cumulative Credit, to the extent such net cash proceeds or cash have not been applied
pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section&nbsp;4.04(b) of this Indenture or to make Permitted Investments (other than Permitted Investments specified in clauses
(1)&nbsp;and (3)&nbsp;of the definition thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxi) Indebtedness of the Issuer or any Restricted Subsidiary consisting
of (x)&nbsp;the financing of insurance premiums or (y)&nbsp;take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxii) Indebtedness arising as a result of implementing composite accounting or other cash pooling arrangements involving
solely the Issuer and the Restricted Subsidiaries or solely among Restricted Subsidiaries and entered into the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiii) Indebtedness issued by the Issuer or a Restricted Subsidiary to current or former officers, directors and employees
thereof or any direct or indirect parent thereof, or their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Issuer or any of its direct or indirect parent companies to the
extent permitted under Section&nbsp;4.04(b)(iv); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiv) Indebtedness of Restricted Subsidiaries which are not Guarantors;
<I>provided</I>, <I>however</I>, that the aggregate principal amount of Indebtedness Incurred under this clause (xxiv)&nbsp;does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and (B)&nbsp;5.5% of Total Assets at the time of Incurrence;
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxv) Indebtedness incurred on behalf of, or representing guarantees of
Indebtedness of, joint ventures of the Issuer or any Restricted Subsidiary not in excess, at any one time outstanding, of the greater of (A)&nbsp;&#128;50.0&nbsp;million and (B)&nbsp;3.0% of Total Assets at the time that such Indebtedness is
incurred; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxvi) Indebtedness representing deferred compensation or stock-based compensation to employees of the
Issuer and the Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.03, in the event that an item of
Indebtedness, Disqualified Stock or Preferred Stock meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i)&nbsp;through (xxvi)&nbsp;above or is entitled to be
Incurred pursuant to Section&nbsp;4.03(a), the Issuer shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness in any manner that complies with this Section&nbsp;4.03; provided that
all Indebtedness outstanding under the ABL Facility and the Revolving Credit Facility on the Issue Date will be deemed to have been Incurred on such date in reliance on clause (i)&nbsp;and clause (ii), respectively, of this Section&nbsp;4.03(b) and
the Issuer shall not be permitted to reclassify all or any portion of such Indebtedness. The Issuer will also be entitled to treat a portion of any Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under
Section&nbsp;4.03(a) and thereafter the remainder of such Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under this Section&nbsp;4.03(b). Accrual of interest, the accretion of accreted value, the payment of interest in
the form of additional Indebtedness with the same terms, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount or liquidation preference and increases
in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies shall not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section&nbsp;4.03.
Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of
Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section&nbsp;4.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.04 <U>Limitation on Restricted Payments</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries
to, directly or indirectly: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) declare or pay any dividend or make any distribution on account of the Issuer&#146;s or
any of its Restricted Subsidiaries&#146; Equity Interests, including any payment made in connection with any merger, amalgamation or consolidation involving the Issuer (other than (A)&nbsp;dividends or distributions by the Issuer payable solely in
Equity Interests (other than Disqualified Stock) of the Issuer; or (B)&nbsp;dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or series of securities
issued by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or
series of securities); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) purchase or otherwise acquire or retire for value any Equity Interests of
the Issuer or any direct or indirect parent of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) make any principal payment on, or redeem, repurchase,
defease or otherwise acquire or retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Issuer or any of its Restricted Subsidiaries (other than the payment, redemption, repurchase,
defeasance, acquisition or retirement of (A)&nbsp;Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption,
repurchase, defeasance, acquisition or retirement and (B)&nbsp;Indebtedness permitted under clauses (viii)&nbsp;and (x)&nbsp;of Section&nbsp;4.03(b)); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) make any Restricted Investment </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(all such payments and other actions set forth in clauses (i)&nbsp;through (iv)&nbsp;above being collectively referred to as &#147;Restricted Payments&#148;),
unless, at the time of such Restricted Payment: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no Default shall have occurred and be continuing or would occur as a
consequence thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) immediately after giving effect to such transaction on a pro forma basis, the Issuer could Incur
$1.00 of additional Indebtedness under Section&nbsp;4.03(a); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) such Restricted Payment, together with the aggregate
amount of all other Restricted Payments made by the Issuer and its Restricted Subsidiaries after the Issue Date (and not returned or rescinded) (including Restricted Payments permitted by clauses (i)&nbsp;and (viii)(b) of Section&nbsp;4.04(b), but
excluding all other Restricted Payments permitted by Section&nbsp;4.04(b)), is less than an amount equal to the Cumulative Credit. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) The
provisions of Section&nbsp;4.04(a) shall not prohibit: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the payment of any dividend or distribution within 60 days
after the date of declaration thereof, if at the date of declaration such payment would have complied with the provisions of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) (A) the redemption, repurchase, retirement or other acquisition of any Equity Interests (&#147;Retired Capital
Stock&#148;) of the Issuer or any direct or indirect parent of the Issuer or Subordinated Indebtedness of the Issuer, any direct or indirect parent of the Issuer or any Guarantor in exchange for, or out of the proceeds of, the substantially
concurrent sale of, Equity Interests of the Issuer or any direct or indirect parent of the Issuer or contributions to the equity capital of the Issuer (other than any Disqualified Stock or any Equity Interests sold to a Subsidiary of the Issuer or
to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) (collectively, including any such contributions, &#147;Refunding Capital Stock&#148;); and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the declaration and payment of dividends on the Retired Capital Stock out of
the proceeds of the substantially concurrent sale (other than to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) of Refunding Capital Stock; and if immediately
prior to the retirement of Retired Capital Stock, the declaration and payment of dividends thereon was permitted under Section&nbsp;4.04(b)(vi) and not made pursuant to this Section&nbsp;4.04(b)(ii)(B), the declaration and payment of dividends on
the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent of the Issuer) in an aggregate amount per year
no greater than the aggregate amount of dividends per annum that were declarable and payable on such Retired Capital Stock immediately prior to such retirement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the redemption, repurchase, defeasance or other acquisition or retirement of Subordinated Indebtedness of the Issuer or
any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale (or as promptly as practicable after giving any requisite notice to the holders of such Subordinated Indebtedness) of, new Indebtedness of the Issuer or
a Guarantor which is Incurred in accordance with Section&nbsp;4.03 so long as </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the principal amount (or accreted
value, if applicable) of such new Indebtedness does not exceed the principal amount (or accreted value, if applicable), plus any accrued and unpaid interest of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or
retired for value (plus the amount of any premium required to be paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired plus any tender premiums, defeasance costs
or other fees and expenses incurred in connection therewith), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) such Indebtedness is subordinated to the Securities or
the related Guarantee, as the case may be, at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired or retired for value, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) such Indebtedness has a final scheduled maturity date equal to or later than the earlier of (x)&nbsp;the final scheduled
maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired or (y)&nbsp;91 days following the maturity date of the Securities, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) such Indebtedness has a Weighted Average Life to Maturity at the time Incurred which is not less than the shorter of
(x)&nbsp;the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired and (y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal
on the Indebtedness being so redeemed, repurchased, defeased, acquired or retired that were due on or after the date one year following the maturity date of any Securities then outstanding were instead due on such date one year following the
maturity date of such Securities; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the repurchase, retirement or other acquisition (or dividends to any direct
or indirect parent of the Issuer to finance any such repurchase, retirement or other acquisition) for value of Equity Interests of the Issuer or any direct or indirect parent of the Issuer held by any future, present or former employee, director or
consultant of the Issuer or any direct or indirect parent of the Issuer or any Subsidiary of the Issuer pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement;
<I>provided</I>, <I>however</I>, that the aggregate amounts paid under this clause (iv)&nbsp;do not exceed &#128;15.0&nbsp;million in any calendar year (with unused amounts in any calendar year being permitted to be carried over for the two
succeeding calendar years); <I>provided</I>, <I>further</I>, <I>however</I>, that such amount in any calendar year may be increased by an amount not to exceed: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the cash proceeds received by the Issuer or any of its Restricted Subsidiaries from the sale of Equity Interests (other
than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to members of management, directors or consultants of the Issuer and its Restricted Subsidiaries or any direct or
indirect parent of the Issuer that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend shall not increase the amount available for Restricted
Payments under Section&nbsp;4.04(a)(3)); plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the cash proceeds of key man life insurance policies received by the
Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) or the Issuer&#146;s Restricted Subsidiaries after the Issue Date; less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the amount of any Restricted Payments previously made pursuant to Section&nbsp;4.04(b)(iv)(A) and
Section&nbsp;4.04(b)(iv)(B) </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>provided</I> that the Issuer may elect to apply all or any portion of the aggregate increase contemplated
by clauses (A)&nbsp;and (B)&nbsp;above in any calendar year; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the declaration and payment of dividends or distributions
to holders of any class or series of Disqualified Stock of the Issuer or any of its Restricted Subsidiaries issued or incurred in accordance with Section&nbsp;4.03; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) (a) the declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred
Stock (other than Disqualified Stock) issued after the Issue Date, (b)&nbsp;a Restricted Payment to any direct or indirect parent of the Issuer, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of
Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of the Issuer issued after the Issue Date and (c)&nbsp;the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess
of the dividends </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
declarable and payable thereon pursuant to Section&nbsp;4.04(b)(ii); <I>provided</I>, <I>however</I>, that, (x)&nbsp;for the most recently ended four full fiscal quarters for which internal
financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or Refunding Capital Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a pro forma basis,
the Issuer would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00 and (y)&nbsp;the aggregate amount of dividends declared and paid pursuant to subclauses (a)&nbsp;and (b)&nbsp;of this clause (vi)&nbsp;does not exceed the net cash
proceeds actually received by the Issuer from any such sale of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Investments in Unrestricted Subsidiaries and joint ventures having an aggregate Fair Market Value, taken together with
all other Investments made pursuant to this clause (vii)&nbsp;that are at that time outstanding, not to exceed the greater of (a)&nbsp;&#128;50.0&nbsp;million and (b)&nbsp;2.5% of Total Assets at the time of such Investment (with the Fair Market
Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided that the amount of Investments deemed to have been made pursuant to this clause (vii)&nbsp;at any time shall be reduced by
the Fair Market Value of the proceeds received by the Issuer and/or the Restricted Subsidiaries from the subsequent sale, disposition or other transfer of such Investments without giving effect to subsequent changes in value; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the payment of dividends on the Issuer&#146;s common stock in an aggregate amount per calendar year not to exceed the
sum of (a)&nbsp;&#128;20.0&nbsp;million, plus (b)&nbsp;6.0% of the net proceeds received after the Issue Date (including, without limitation, contributions to the Issuer with the proceeds of sales of common stock of any direct or indirect parent) by
the Issuer from any public offering of common stock of the Issuer or any direct or indirect parent of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix)
Restricted Payments that are made with Excluded Contributions; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) (a) Restricted Payments pursuant to clauses (i),
(ii)&nbsp;and (iii)&nbsp;of Section&nbsp;4.04(a) hereof after the Issue Date and (b)&nbsp;Restricted Payments pursuant to clause (iv)&nbsp;of Section&nbsp;4.04(a) hereof at any time outstanding in an aggregate amount pursuant to this clause
(x)&nbsp;not to exceed &#128;100.0 million; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the distribution, as a dividend or otherwise, of shares of Capital Stock
of, or Indebtedness owed to the Issuer or a Restricted Subsidiary of the Issuer by, Unrestricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) the
payment of dividends or other distributions to any direct or indirect parent of the Issuer in amounts required for such parent to pay federal, state or local income taxes (or other applicable political subdivision, as the case may be) imposed
directly on such parent to the extent such income taxes are attributable to the income of the Issuer and its Subsidiaries (including, without limitation, by virtue of such parent being the common parent of a consolidated or combined tax group of
which the Issuer and/or its Subsidiaries are members); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) repurchases of Equity Interests deemed to occur upon exercise of stock
options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv)
purchases of receivables pursuant to a Receivables Repurchase Obligation in connection with a Qualified Receivables Financing and the payment or distribution of Receivables Fees; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) payments of cash, or dividends, distributions or advances by the Issuer or any Restricted Subsidiary to allow the payment
of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital Stock of any such Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) the repurchase, redemption or other acquisition or retirement for value of any Subordinated Indebtedness pursuant to the
provisions similar to those described under Sections 4.06 and 4.08; provided that all Securities tendered in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed or acquired for value; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) payments or distributions to dissenting stockholders pursuant to applicable law or in connection with a consolidation,
amalgamation, merger or transfer of all or substantially all of the assets of the Issuer and its Restricted Subsidiaries, taken as a whole, that complies with Article 5 of this Indenture; provided that as a result of such consolidation,
amalgamation, merger or transfer of assets, the Issuer shall have made a Change of Control Offer (if required by this Indenture) and that all Securities tendered in connection with such Change of Control Offer have been repurchased, redeemed or
acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) other Restricted Payments; provided that Restricted Payments may only be made pursuant to this
clause (xviii)&nbsp;at such time as the Consolidated Net Debt Ratio of the Issuer and its Restricted Subsidiaries, on a pro forma basis after giving effect to such Restricted Payments, is less than 2.00 to 1.00; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) the payment of any Restricted Payment, if applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) in amounts required for any direct or indirect parent of the Issuer, if applicable, (i)&nbsp;to pay fees and expenses
(including franchise or similar taxes) required to maintain its corporate existence and its status as a public company, customary salary, bonus and other benefits payable to, and indemnities provided on behalf of, officers and employees of any
direct or indirect parent of the Issuer, if applicable, and general corporate overhead expenses of any direct or indirect parent of the Issuer, if applicable, in each case to the extent such fees and expenses are attributable to the ownership or
operation of the Issuer, if applicable, and its Subsidiaries and (ii)&nbsp;to pay tax liabilities incurred as a result of transactions that occurred prior to the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) in amounts required for any direct or indirect parent of the Issuer, if applicable, to pay interest and/or principal on
Indebtedness the proceeds of which have been contributed to the Issuer or any of its Restricted Subsidiaries and that has been guaranteed by, or is otherwise considered Indebtedness of, the Issuer Incurred in accordance with Section&nbsp;4.03; and
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in amounts required for any direct or indirect parent of the Issuer to pay
fees and expenses, other than to Affiliates of the Issuer, related to any unsuccessful equity or debt offering of such parent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>,
<I>however</I>, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses (vi), (vii), (x), (xi)&nbsp;and (xviii)&nbsp;of this Section&nbsp;4.04(b), no Default shall have occurred and be continuing or would
occur as a consequence thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The amount of any Restricted Payment (other than cash) will be the Fair Market Value
on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the Issuer or such Subsidiary, as the case may be, pursuant to the Restricted Payment. Except as otherwise provided herein, the Fair Market
Value of any assets or securities that are required to be valued by this Section&nbsp;4.04 will be determined in good faith by the Issuer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) As of the Issue Date, all of the Issuer&#146;s Subsidiaries shall be Restricted Subsidiaries other than Quiver Ventures,
LLC and Constellium Engley (Changchung) Automotive Structures Co Ltd. The Issuer shall not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the definition of &#147;Unrestricted Subsidiary.&#148; For purposes of
designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Issuer and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in
an amount determined as set forth in the last sentence of the definition of &#147;Investments.&#148; Such designation shall only be permitted if a Restricted Payment in such amount would be permitted at such time and if such Subsidiary otherwise
meets the definition of an Unrestricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.05 <U>Dividend and Other Payment Restrictions Affecting Subsidiaries</U>.
The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any
Restricted Subsidiary to pay dividends or make any other distributions to the Issuer or any of its Restricted Subsidiaries (a)&nbsp;on its Capital Stock, or (b)&nbsp;with respect to any other interest or participation in, or measured by, its
profits; except in each case for such encumbrances or restrictions existing under or by reason of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) contractual
encumbrances or restrictions in effect on the Issue Date, including pursuant to the Credit Facilities and the related documentation in effect on the Issue Date and in each case, any similar contractual encumbrances effected by any amendments,
modifications, restatements, renewals, supplements, refundings, replacements or refinancings of such agreements or instruments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) this Indenture, the Securities and the Guarantees and the Issuer&#146;s &#128;300,000,000 4.625% Senior Notes due 2021 and
the indenture relating thereto and guarantees in respect thereof (in each case, as in effect on the Issue Date; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) applicable law or any applicable rule, regulation or order; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any agreement or other instrument of a Person acquired by the Issuer or any Restricted Subsidiary which was in existence at
the time of such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or credit support utilized to consummate such acquisition), which encumbrance or restriction is not applicable to any Person, or the
properties or assets of any Person, other than the Person or its Subsidiaries, or the property or assets of the Person or its Subsidiaries, so acquired; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) contracts or agreements for the sale of assets, including any restriction with respect to a Restricted Subsidiary imposed
pursuant to an agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Secured Indebtedness otherwise permitted to be Incurred pursuant to Sections 4.03 and 4.12 that limit the right of the
debtor to dispose of the assets securing such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) restrictions on cash or other deposits or net worth
imposed by customers under contracts entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) customary provisions in joint
venture agreements and other similar agreements entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) purchase money
obligations and Capitalized Lease Obligations for property acquired or leased in the ordinary course of business that impose restrictions on the property so acquired or leased; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) customary provisions contained in leases, licenses and other similar agreements entered into in the ordinary course of
business that impose restrictions on the property subject to such lease; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any encumbrance or restriction effected in
connection with (A)&nbsp;a Factoring Facility (provided that such encumbrance or restriction (i)&nbsp;exists on the date hereof or (ii)&nbsp;is in the good faith determination of the Issuer (x)&nbsp;necessary or advisable to effect such Receivables
Financing and applies only to the relevant Subsidiaries to which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring Facilities in effect on the date
hereof) or (B)&nbsp;a Qualified Receivables Financing; provided, however, that in the case of this clause (B), such encumbrances or restrictions (i)&nbsp;apply only to a Receivables Subsidiary or (ii)&nbsp;are in the good faith determination of the
Issuer (x)&nbsp;necessary or advisable to effect such Qualified Receivables Financing and applicable only to the relevant Subsidiaries to which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the
encumbrances and restrictions under the Factoring Facilities in effect on the date hereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) (A) other Indebtedness or
Disqualified Stock of the Issuer or any of its Restricted Subsidiaries, or (B)&nbsp;Preferred Stock of any Restricted Subsidiary, in each case that is Incurred subsequent to the Issue Date pursuant to Section&nbsp;4.03; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) any Restricted Investment not prohibited by Section&nbsp;4.04 and any
Permitted Investment; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any encumbrances or restrictions of the type referred to in clauses (a)&nbsp;and
(b)&nbsp;above imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1)&nbsp;through (13)&nbsp;above;
<I>provided</I> that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Issuer, no more restrictive with respect to such encumbrances and
other restrictions than those contained in the encumbrances or other restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.05, (i)&nbsp;the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii)&nbsp;the subordination of loans or advances made to
the Issuer or a Restricted Subsidiary of the Issuer to other Indebtedness Incurred by the Issuer or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.06 <U>Asset Sales</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make an
Asset Sale, unless (x)&nbsp;the Issuer or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined in good faith by the Issuer) of the assets
sold or otherwise disposed of, and (y)&nbsp;at least 75% of the consideration therefor received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any liabilities (as shown on the Issuer&#146;s or such Restricted Subsidiary&#146;s most recent balance sheet or in the
notes thereto) of the Issuer or any Restricted Subsidiary of the Issuer (other than liabilities that are by their terms subordinated to the Securities or any Guarantee) that are assumed by the transferee of any such assets, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) any notes or other obligations or other securities or assets received by the Issuer or such Restricted Subsidiary of the
Issuer from such transferee that are converted by the Issuer or such Restricted Subsidiary of the Issuer into cash within 180 days of the receipt thereof (to the extent of the cash received), and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) any Designated Non-cash Consideration received by the Issuer or any of its Restricted Subsidiaries in such Asset Sale
having an aggregate Fair Market Value (as determined in good faith by the Issuer), taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii)&nbsp;that is at that time outstanding, not to exceed the
greater of 2.0% of Total Assets and &#128;35.0&nbsp;million at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and
without giving effect to subsequent changes in value) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">shall be deemed to be Cash Equivalents for the purposes of this Section&nbsp;4.06(a). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 15 months after the Issuer&#146;s or any Restricted Subsidiary of the Issuer&#146;s receipt of the Net Proceeds of
any Asset Sale, the Issuer or such Restricted Subsidiary of the Issuer may apply the Net Proceeds from such Asset Sale, at its option: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to repay Indebtedness constituting Credit Facilities or Secured Indebtedness (and, if the Indebtedness repaid is revolving
credit Indebtedness, to correspondingly reduce commitments with respect thereto), Pari Passu Indebtedness (<I>provided</I> that if the Issuer or any Guarantor shall so reduce Obligations under Pari Passu Indebtedness (other than Credit Facilities or
Secured Indebtedness), the Issuer shall make an offer to all Holders of the Securities to equally and ratably reduce a pro rata principal amount of the Securities through a repurchase offer (in accordance with the procedures set forth below for an
Asset Sale Offer) at a purchase price equal to or greater than (in the Issuer&#146;s sole discretion) 100% of the principal amount thereof, plus accrued and unpaid interest, if any) or Indebtedness of a Restricted Subsidiary that is not a Guarantor,
in each case other than Indebtedness owed to the Issuer or an Affiliate of the Issuer, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to make an investment in any
one or more businesses (provided that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), assets, or property or capital
expenditures, in each case used or useful in a Similar Business, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to make an investment in any one or more
businesses (provided that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), properties or assets that replace the properties
and assets that are the subject of such Asset Sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the case of Sections 4.06(b)(ii) and (iii), a binding commitment shall be treated
as a permitted application of the Net Proceeds from the date of such commitment; provided that in the event such binding commitment is later canceled or terminated for any reason before such Net Proceeds are so applied, the Issuer or such Restricted
Subsidiary enters into another binding commitment within nine months of such cancellation or termination of the prior binding commitment; <I>provided</I>, <I>further</I> that the Issuer or such Restricted Subsidiary may only enter into such a
commitment under the foregoing provision one time with respect to each Asset Sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pending the final application of any such Net
Proceeds, the Issuer or such Restricted Subsidiary of the Issuer may temporarily reduce Indebtedness under a revolving credit facility, if any, or otherwise invest such Net Proceeds in any manner not otherwise prohibited by this Indenture. Any Net
Proceeds from any Asset Sale that are not applied as provided and within the time period set forth in the first sentence of this Section&nbsp;4.06(b) (it being understood that any portion of such Net Proceeds used to make an offer to purchase
Securities, as described in clause (i)&nbsp;of this Section&nbsp;4.06(b), shall be deemed to have been invested per Section&nbsp;4.06(b), whether or not such offer is accepted) shall be deemed to constitute &#147;Excess Proceeds.&#148; When the
aggregate amount of Excess Proceeds exceeds &#128;15.0&nbsp;million, the Issuer shall make an offer to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
all Holders of Securities (and, at the option of the Issuer, to holders of any Pari Passu Indebtedness) (an &#147;Asset Sale Offer&#148;) to purchase the maximum aggregate principal amount of
Securities (and such Pari Passu Indebtedness), that is at least $250,000 and an integral multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal
amount thereof (or, in the event such Pari Passu Indebtedness was issued with significant original issue discount, 100% of the accreted value thereof), plus accrued and unpaid interest, if any (or, in respect of such Pari Passu Indebtedness, such
lesser price, if any, as may be provided for by the terms of such Pari Passu Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Indenture. The Issuer shall commence an Asset Sale Offer
with respect to Excess Proceeds within 10 Business Days after the date that Excess Proceeds exceeds &#128;15.0&nbsp;million by electronically delivering or mailing the notice required pursuant to the terms of Section&nbsp;4.06(f), with a copy to the
Trustee and Paying Agent. To the extent that the aggregate amount of Securities (and such Pari Passu Indebtedness) tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for
general corporate purposes. If the aggregate principal amount of Securities (and such Pari Passu Indebtedness) surrendered by Holders of such Securities (and holders of such Pari Passu Indebtedness) thereof exceeds the amount of Excess Proceeds, the
Registrar shall select the Securities to be purchased in the manner described in Section&nbsp;4.06(e). Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the
Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the
Issuer shall deliver to the Trustee an Officer&#146;s Certificate as to (i)&nbsp;the amount of the Excess Proceeds, (ii)&nbsp;the allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset Sale Offer is being made and
(iii)&nbsp;the compliance of such allocation with the provisions of Section&nbsp;4.06(b). On such date, the Issuer shall also irrevocably deposit with the Trustee or with a paying agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is
acting as the Paying Agent, segregate and hold in trust) an amount equal to the Excess Proceeds to be invested in Cash Equivalents, as directed in writing by the Issuer, and to be held for payment in accordance with the provisions of this
Section&nbsp;4.06. Upon the expiration of the period for which the Asset Sale Offer remains open (the &#147;Offer Period&#148;), the Issuer shall deliver to the Trustee for cancellation the Securities or portions thereof that have been properly
tendered to and are to be accepted by the Issuer. The Trustee (or the Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the amount of the purchase price. In the event that the
Excess Proceeds delivered by the Issuer to the Trustee are greater than the purchase price of the Securities tendered, the Trustee shall deliver the excess to the Issuer immediately after the expiration of the Offer Period for application in
accordance with Section&nbsp;4.06. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Holders electing to have a Security purchased shall be required to surrender the
Security, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day prior to the purchase date, a facsimile transmission or letter setting
forth the name of the Holder, the principal amount of the Security which was delivered by the Holder for purchase and a statement that such Holder is withdrawing his election to have such Security purchased. If at the end of the Offer Period more
Securities (and such Pari Passu Indebtedness) are tendered pursuant to an Asset Sale Offer than the Issuer is required to purchase, selection of such Securities for purchase shall be made by the Registrar pro rata, by lot or such other manner in the
case of Global Securities, as may be required by the applicable procedures of DTC; provided that no Securities of $250,000 or less shall be purchased in part. Selection of such Pari Passu Indebtedness shall be made pursuant to the terms of such Pari
Passu Indebtedness. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notices of an Asset Sale Offer shall be electronically delivered or mailed by first class mail,
postage prepaid by the Issuer, at least 30 but not more than 60 days before the purchase date to each Holder of Securities at such Holder&#146;s registered address. If any Security is to be purchased in part only, any notice of purchase that relates
to such Security shall state the portion of the principal amount thereof that has been or is to be purchased. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The
provisions under this Indenture relating to the Issuer&#146;s obligation to make an Asset Sale Offer may be waived or modified with the written consent of Holders of a majority in principal amount of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.07 <U>Transactions with Affiliates</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions,
contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an &#147;Affiliate Transaction&#148;) involving aggregate consideration in excess of
&#128;10.0&nbsp;million, unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) such Affiliate Transaction is on terms that are not materially less favorable to the
Issuer or the relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in
excess of &#128;25.0&nbsp;million (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of inventory), the Issuer delivers to the Trustee an Officer&#146;s Certificate certifying that such
Affiliate Transaction complies with clause (i)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) with respect to any Affiliate Transaction or series of
related Affiliate Transactions involving aggregate consideration in excess of &#128;50.0&nbsp;million (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of inventory), the Issuer
delivers to the Trustee a resolution adopted in good faith by the majority of the Board of Directors of the Issuer, approving such Affiliate Transaction and set forth in an Officer&#146;s Certificate certifying that such Affiliate Transaction
complies with clause (i)&nbsp;above. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.07(a) shall not apply to the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) transactions between or among the Issuer and/or any of its Restricted Subsidiaries (or an entity that becomes a Restricted
Subsidiary as a result of such transaction) and any merger, consolidation or amalgamation of the Issuer and any direct parent of the Issuer; provided that at the time of such merger, consolidation or amalgamation such parent shall have no material
liabilities and no material assets other than cash, Cash Equivalents and the Capital Stock of the Issuer and such merger, consolidation or amalgamation is otherwise in compliance with the terms of this Indenture and effected for a bona fide business
purpose; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Restricted Payments permitted by Section&nbsp;4.04 and Permitted Investments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the payment of reasonable and customary fees and reimbursement of expenses paid to, and indemnity provided on behalf of,
officers, directors, employees or consultants of the Issuer or any Restricted Subsidiary or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) transactions in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivered to the Trustee a
letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or meets the requirements of clause (i)&nbsp;of Section&nbsp;4.07(a); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) payments or loans (or cancellation of loans) to directors, officers, employees or consultants which are approved by a
majority of the Board of Directors of the Issuer in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) any agreement as in effect as of the Issue Date or
any amendment thereto (so long as any such agreement together with all amendments thereto, taken as a whole, is not more disadvantageous to the Holders of the Securities in any material respect than the original agreement as in effect on the Issue
Date) or any transaction contemplated thereby as determined in good faith by the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the existence of, or the
performance by the Issuer or any of its Restricted Subsidiaries of its obligations under the terms of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the
Issue Date and any transaction, agreement or arrangement in effect on the Issue Date and described in the Offering Memorandum (or the documents incorporated by reference therein) and, in each case, any amendment thereto or similar transactions,
agreements or arrangements which it may enter into thereafter; <I>provided</I>, <I>however</I>, that the existence of, or the performance by the Issuer or any of its Restricted Subsidiaries of its obligations under, any future amendment to any such
existing transaction, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
agreement or arrangement or under any similar transaction, agreement or arrangement entered into after the Issue Date shall only be permitted by this clause (vii)&nbsp;to the extent that the
terms of any such existing transaction, agreement or arrangement together with all amendments thereto, taken as a whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to the Holders of the Securities in any
material respect than the original transaction, agreement or arrangement as in effect on the Issue Date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) (A)
transactions with customers, clients, suppliers or purchasers or sellers of goods or services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in
compliance with the terms of this Indenture, which are fair to the Issuer and its Restricted Subsidiaries in the reasonable determination of the Issuer, or are on terms at least as favorable as might reasonably have been obtained at such time from
an unaffiliated party or (B)&nbsp;transactions with joint ventures or Unrestricted Subsidiaries entered into in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) any transaction effected as part of a Factoring Facility or a Qualified Receivables Financing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) the issuance of Equity Interests (other than Disqualified Stock) of the Issuer to any Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the issuances of securities or other payments, loans (or cancellation of loans), awards or grants in cash, securities or
otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Issuer or any direct or indirect parent of the Issuer or of a
Restricted Subsidiary of the Issuer, as appropriate, in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) transactions permitted by, and complying with,
Sections 4.06 and/or 5.01; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) transactions between the Issuer or any of its Restricted Subsidiaries and any Person, a
director of which is also a director of the Issuer; <I>provided</I>, <I>however</I>, that such director abstains from voting as a director of the Issuer or such direct or indirect parent, as the case may be, on any matter involving such other
Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) pledges of Equity Interests of Unrestricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the provision to Unrestricted Subsidiaries of cash management, accounting and other overhead services in the ordinary
course of business undertaken in good faith and not for the purpose of circumventing any covenant set forth in this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) any employment agreements entered into by the Issuer or any of its Restricted Subsidiaries in the ordinary course of
business, and any termination of employment agreements and payments in connection therewith at the net present value of future payments; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) intercompany transactions undertaken in good faith for the purpose of
improving the consolidated tax efficiency of the Issuer and its Subsidiaries and not for the purpose of circumventing any covenant set forth in this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) the entering into of any tax sharing agreement or arrangement providing for, and the making of, any payments permitted
by Section&nbsp;4.04(b)(xii); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) (A) payments made to the Issuer or any of its Restricted Subsidiaries by Quiver
Ventures, LLC in connection with tax sharing arrangements and (B)&nbsp;any repayments or reimbursements by the Issuer or any of its Restricted Subsidiaries to Quiver Ventures, LLC to the extent that amounts paid thereby pursuant to clause
(A)&nbsp;are in excess of the ultimate tax liability attributable thereto, in each case consistent with past practice of the Issuer and its Restricted Subsidiaries for other consolidated groups; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) any agreements or arrangements between a third party and an Affiliate of the Issuer that are acquired or assumed by the
Issuer or any Restricted Subsidiary in connection with an acquisition or merger of such third party (or assets of such third party) by or with the Issuer or any Restricted Subsidiary; provided that (A)&nbsp;such acquisition or merger is permitted
under this Indenture and (B)&nbsp;such agreements or arrangements are not entered into in contemplation of such acquisition or merger or otherwise for the purpose of avoiding the restrictions imposed by this section. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.08 <U>Change of Control</U>. (a)&nbsp;Upon a Change of Control, each Holder shall have the right to require the Issuer to repurchase
all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date), in accordance with the terms contemplated in this Section&nbsp;4.08; <I>provided</I>, <I>however</I>, that notwithstanding the occurrence of a Change of Control,
the Issuer shall not be obligated to purchase any Securities pursuant to this Section&nbsp;4.08 in the event that it has exercised its right to redeem such Securities in accordance with Article 3 of this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 30 days following any Change of Control, except to the extent that the Issuer has exercised its right to redeem the
Securities in accordance with Article 3 of this Indenture, the Issuer shall electronically deliver or mail a notice (a &#147;Change of Control Offer&#148;) to each Holder with a copy to the Trustee and Paying Agent stating: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) that a Change of Control has occurred and that such Holder has the right to require the Issuer to repurchase such
Holder&#146;s Securities at a repurchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the Holders of record on a record date to receive
interest on the relevant interest payment date); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the circumstances and relevant facts and financial information regarding
such Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the repurchase date (which shall be no earlier than 30 days nor later than 60 days from the
date such notice is electronically delivered or mailed, except that such notice may provide that, if the Change of Control does not occur on the repurchase date so designated, then the repurchase date may be delayed until such time as the applicable
Change of Control shall occur); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the instructions determined by the Issuer, consistent with this Section&nbsp;4.08,
that a Holder must follow in order to have its Securities purchased; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if such notice is electronically delivered or
mailed prior to the occurrence of a Change of Control pursuant to a definitive agreement for the Change of Control, that such offer is conditioned on the occurrence of such Change of Control. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Holders electing to have a Security purchased shall be required to surrender the Security, with an appropriate form duly
completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. The Holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day
prior to the purchase date a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered for purchase by the Holder and a statement that such Holder is withdrawing his election to
have such Security purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the purchase date, all Securities purchased by the Issuer under this Section&nbsp;4.08 shall be delivered to the Trustee
for cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest to the Holders entitled thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) For the avoidance of doubt, a Change of Control Offer may be made in advance of a Change of Control, and be conditional
upon such Change of Control, if a definitive agreement is in place in respect of the Change of Control at the time of making of the Change of Control Offer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the foregoing provisions of this Section&nbsp;4.08, the Issuer shall not be required to make a Change of
Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section&nbsp;4.08 applicable to a Change of Control Offer made
by the Issuer and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) If
Holders of not less than 90% in aggregate principal amount of the outstanding Securities validly tender and do not withdraw such Securities in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of
the Issuer as described above, purchases all of the Securities validly tendered and not </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
withdrawn by such Holders, the Issuer or such third party will have the right, upon not less than 30 nor more than 60 days&#146; prior notice, given not more than 30 days following such purchase
pursuant to the Change of Control Offer described above, to repurchase all Securities that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to but excluding
the date of repurchase. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) Securities repurchased by the Issuer pursuant to a Change of Control Offer will have the
status of Securities issued but not outstanding or will be retired and canceled at the option of the Issuer. Securities purchased by a third party pursuant to the preceding clause (f)&nbsp;will have the status of Securities issued and outstanding.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) At the time the Issuer delivers Securities to the Trustee which are to be accepted for purchase, the Issuer shall also
deliver an Officer&#146;s Certificate stating that such Securities are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section&nbsp;4.08. A Security shall be deemed to have been accepted for purchase at the time the
Trustee, directly or through an agent, mails or delivers payment therefor to the surrendering Holder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Prior to any
Change of Control Offer, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate stating that all conditions precedent contained herein to the right of the Issuer to make such offer have been complied with. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) To the extent that the provisions of any securities laws or regulations conflict with the provisions of this
Section&nbsp;4.08, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section&nbsp;4.08 by virtue thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The provisions under this Indenture relating to the Issuer&#146;s obligation to make an offer to repurchase Notes as a
result of a Change of Control may be waived or modified with the written consent of the Holders of a majority in principal amount of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.09 <U>Compliance Certificate</U>. The Issuer shall deliver to the Trustee within 120 days after the end of each fiscal year of the
Issuer, beginning with the fiscal year end on December&nbsp;31, 2014, an Officer&#146;s Certificate stating that in the course of the performance by the signers of their duties as Officers of the Issuer they would normally have knowledge of any
Default and whether or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe the Default, its status and what action the Issuer is taking or proposes to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.10 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.11 <U>Future Guarantors</U>. The Issuer shall cause each Restricted Subsidiary (unless such Subsidiary is a Receivables Subsidiary)
that guarantees any Indebtedness under Credit Facilities of (a)&nbsp;the Issuer or (b)&nbsp;any of the Guarantors, on the Issue Date or at any time thereafter, to execute and deliver to the Trustee a supplemental indenture substantially in the form
of Exhibit B pursuant to which such Subsidiary shall guarantee the Issuer&#146;s Obligations under the Securities and this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.12 <U>Liens</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any Lien on any asset or property of the Issuer or such Restricted Subsidiary securing Indebtedness unless the Securities are equally and ratably secured with (or
on a senior basis to, in the case of obligations subordinated in right of payment to the Securities) the obligations so secured until such time as such obligations are no longer secured by a Lien. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;4.12(a) shall not require the Issuer or any Restricted Subsidiary of the Issuer to secure the Securities if
the Lien consists of a Permitted Lien. Any Lien that is granted to secure the Securities or such Guarantee under Section&nbsp;4.12(a) shall be automatically released and discharged at the same time as the release of the Lien that gave rise to the
obligation to secure the Securities or such Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.13 <U>Maintenance of Office or Agency</U>. (a)&nbsp;The Issuer shall
maintain an office or agency (which may be an office of the Trustee or an Affiliate of the Trustee or Registrar) where Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer in
respect of the Securities and this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee as set forth in Section&nbsp;11.03.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may also from time to time designate one or more other offices or agencies where the Securities may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; <I>provided</I>, <I>however</I>, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain
an office or agency for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Issuer hereby designates the corporate trust office of the Trustee or its Agent as such office or agency of the Issuer
in accordance with Section&nbsp;2.04. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.14 <U>Termination and Suspension of Certain Covenants</U>. (a)&nbsp;If on any date
following the Issue Date (i)&nbsp;the Securities have Investment Grade Ratings from both Rating Agencies, and the Issuer has delivered an Officer&#146;s Certificate of such Investment Grade Ratings to the Trustee, and (ii)&nbsp;no Default has
occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i)&nbsp;and (ii)&nbsp;being collectively referred to as a &#147;Covenant Suspension Event&#148;), then, beginning on such date, the
Issuer and its Restricted Subsidiaries will not be subject to Section&nbsp;4.03 hereof, Section&nbsp;4.04 hereof, Section&nbsp;4.05 hereof, Section&nbsp;4.06 hereof, Section&nbsp;4.07 hereof, Section&nbsp;4.08 hereof, Section&nbsp;4.11 hereof,
clause (iv)&nbsp;of Section&nbsp;5.01(a) hereof, Section&nbsp;5.01(b) hereof and the penultimate paragraph of Section&nbsp;5.01 hereof (collectively, the &#147;Suspended Covenants&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In the event that the Issuer and the Restricted Subsidiaries are not subject to the Suspended Covenants under this
Indenture for any period of time as a result of the foregoing, and on any subsequent date (the &#147;Reversion Date&#148;) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
the Securities below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries shall thereafter again be subject to the Suspended Covenants with respect to future events. The
period of time between the Covenant Suspension Event and the Reversion Date is referred to herein as the &#147;Suspension Period&#148;. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding that the Suspended Covenants may be reinstated, no Default will be deemed to have occurred as a result of a
failure to comply with the Suspended Covenants during the Suspension Period. During any Suspension Period, the Issuer may not designate any Subsidiary as an Unrestricted Subsidiary unless the Issuer would have been permitted to designate such
Subsidiary as an Unrestricted Subsidiary if a Suspension Period had not been in effect for any period, and such designation shall be deemed to have created a Restricted Payment pursuant to Section&nbsp;4.04 following the Reversion Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the Reversion Date, all Indebtedness Incurred, or Disqualified Stock or Preferred Stock issued, during the Suspension
Period will be classified to have been Incurred or issued pursuant to Section&nbsp;4.03(a) or one of the clauses set forth in Section&nbsp;4.03(b) (in each case, to the extent such Indebtedness would be permitted to be Incurred thereunder as of the
Reversion Date and after giving effect to Indebtedness Incurred prior to the Suspension Period and outstanding on the Reversion Date). To the extent such Indebtedness or Disqualified Stock or Preferred Stock would not be so permitted to be Incurred
or issued pursuant to Section&nbsp;4.03(a) or Section&nbsp;4.03(b), such Indebtedness or Disqualified Stock or Preferred Stock will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under
Section&nbsp;4.03(b)(iv). For purposes of Section&nbsp;4.11, all Indebtedness Incurred during the Suspension Period and outstanding on the Reversion Date by any Restricted Subsidiary that is not a Guarantor will be deemed to have been Incurred on
the Reversion Date. Calculations made after the Reversion Date of the amount available to be made as Restricted Payments under Section&nbsp;4.04 will be made as though Section&nbsp;4.04 had been in effect since the Issue Date and throughout the
Suspension Period. Accordingly, Restricted Payments made during the Suspension Period will reduce the amount available to be made as Restricted Payments under Section&nbsp;4.04(a) and the items specified in clauses (1)&nbsp;through (6)&nbsp;of the
definition of &#147;Cumulative Credit&#148; will increase the amount available to be made as Restricted Payments under the first paragraph thereof. For purposes of determining compliance with Section&nbsp;4.06 on the Reversion Date, the Net Proceeds
from all Asset Sales not applied in accordance with the covenant will be deemed to be reset to zero. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) In addition, in
the event that the Issuer and the Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period as a result of the foregoing, and on any subsequent date the Issuer or any of its Affiliates enters into an
agreement to effect a transaction that would result in a Change of Control and one or more of the Rating Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would
cause such Rating Agency to withdraw its Investment Grade Rating or downgrade the ratings assigned to the Securities below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries will thereafter again be subject to
Section&nbsp;4.08 hereof until the occurrence, if any, of another Covenant Suspension Event, or the termination of such agreement, or the withdrawal by such Rating Agency of such indication, whichever occurs earliest. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 5 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUCCESSOR COMPANY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5.01 <U>When Issuer May Merge or Transfer Assets</U>. (a)&nbsp;The Issuer shall not, directly or indirectly, consolidate, amalgamate
or merge with or into or wind up or convert into (whether or not the Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related
transactions, to any Person unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Issuer is the surviving Person or the Person formed by or surviving any such
consolidation, amalgamation, merger, winding up or conversion (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability
company organized or other Person existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (the Issuer or such Person, as the case
may be, being herein called the &#147;Successor Company&#148;); <I>provided</I> that in the case where the surviving Person is not a corporation or limited liability company (or equivalent of a corporation or limited liability company in any
permitted jurisdiction listed in this clause (i)), a co-obligor of the Securities is a corporation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Successor
Company (if other than the Issuer) expressly assumes all the obligations of the Issuer under this Indenture and the Securities pursuant to supplemental indentures or other documents or instruments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the
Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction) no Default shall have occurred and be continuing;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) immediately after giving pro forma effect to such transaction, as if such transaction had occurred at the beginning
of the applicable four-quarter period (and treating any Indebtedness which becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such
Restricted Subsidiary at the time of such transaction), either </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the Successor Company would be permitted to Incur at
least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Fixed Charge Coverage Ratio for the Successor Company and its Restricted Subsidiaries would be equal to or greater
than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if the Successor Company is not the Issuer, each Guarantor, unless it is the
other party to the transactions described above, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person&#146;s obligations under this Indenture and the Securities; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) the Successor Company (if other than the Issuer) shall have delivered to the Trustee an Officer&#146;s Certificate and an
Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indentures (if any) comply with this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Successor Company (if other than the Issuer) shall succeed to, and be substituted for, the Issuer under this Indenture and the Securities,
and in such event the Issuer will automatically be released and discharged from its obligations under this Indenture and the Securities. Notwithstanding the foregoing clauses (iii)&nbsp;and (iv)&nbsp;of this Section&nbsp;5.01(a), (A)&nbsp;any
Restricted Subsidiary may merge, consolidate or amalgamate with or transfer all or part of its properties and assets to the Issuer or to another Restricted Subsidiary, and (B)&nbsp;the Issuer may merge, consolidate or amalgamate with an Affiliate
incorporated solely for the purpose of reincorporating the Issuer in any country in the European Union, Switzerland, a state of the United States, the District of Columbia or any territory of the United States, so long as the amount of Indebtedness
of the Issuer and its Restricted Subsidiaries is not increased thereby. This Article 5 will not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Issuer and its Restricted Subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Subject to the provisions of Section&nbsp;10.03 (which govern the release of a Guarantee upon the sale or disposition of a
Restricted Subsidiary of the Issuer that is a Guarantor), no Guarantor shall, and the Issuer shall not permit any Guarantor to, consolidate, amalgamate or merge with or into or wind up into (whether or not such Guarantor is the surviving Person), or
sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) either (A)&nbsp;such Guarantor is the surviving Person or the Person formed by or surviving any such consolidation,
amalgamation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability company or other Person organized or
existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (such Guarantor or such Person, as the case may be, being herein called the
&#147;Successor Guarantor&#148; ) and the Successor Guarantor (if other than such Guarantor) expressly assumes all the obligations of such Guarantor under this Indenture and such Security, such Guarantor&#146;s Guarantee pursuant to a supplemental
indenture or other documents or instruments, or (B)&nbsp;such sale or disposition or consolidation, amalgamation or merger is not in violation of Section&nbsp;4.06; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the case of clause (i)(A) above, the Successor Guarantor (if other than such Guarantor) shall have delivered or caused
to be delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in this Indenture, the Successor Guarantor (if other than such
Guarantor) will succeed to, and be substituted for, such Guarantor under this Indenture and such Guarantor&#146;s Guarantee, and such Guarantor will automatically be released and discharged from its obligations under this Indenture and such
Guarantor&#146;s Guarantee. Notwithstanding the foregoing, (1)&nbsp;a Guarantor may merge, amalgamate or consolidate with an Affiliate incorporated solely for the purpose of reincorporating such Guarantor in any country in the European Union,
Switzerland, the United States, or a state of the United States, the District of Columbia or any territory of the United States so long as the amount of Indebtedness of the Guarantor is not increased thereby and (2)&nbsp;a Guarantor may merge,
amalgamate or consolidate with another Guarantor or the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, notwithstanding the foregoing, any Guarantor may
consolidate, amalgamate or merge with or into or wind up into, or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets (collectively, a &#147;Transfer&#148;) to (x)&nbsp;the Issuer or any
Guarantor or (y)&nbsp;any Restricted Subsidiary of the Issuer that is not a Guarantor; provided that at the time of each such Transfer pursuant to clause (y)&nbsp;the aggregate amount of all such Transfers since the Issue Date shall not exceed 5.0%
of the consolidated assets of the Issuer and the Guarantors as shown on the most recent available balance sheet of the Issuer and the Restricted Subsidiaries after giving effect to each such Transfer and including all Transfers occurring from and
after the Issue Date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFAULTS AND REMEDIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.01 <U>Events of Default</U>. An &#147;Event of Default&#148; with respect to the Securities occurs if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) there is a default in any payment of interest (including any Additional Amounts) on any Security, when the same becomes due
and payable, and such default continues for a period of 30 days, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) there is a default in the payment of principal or
premium, if any, of any Security, when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer or any Restricted Subsidiary fails to comply with its obligations under Section&nbsp;5.01, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the Issuer or any Restricted Subsidiary fails to comply with any of its agreements in the Securities or this Indenture
(other than those referred to in clause (a), (b)&nbsp;or (c)&nbsp;above) and such failure continues for 60 days after the notice specified below, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the Issuer or any Significant Subsidiary fails to pay any Indebtedness (other
than Indebtedness owing to the Issuer or a Restricted Subsidiary) within any applicable grace period after final maturity or the acceleration of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of
such Indebtedness unpaid or accelerated exceeds &#128;50.0&nbsp;million or its foreign currency equivalent, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) the Issuer
or any Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) commences a voluntary case;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) consents to the entry of an order for relief against it in an involuntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) consents to the appointment of a Custodian of it or for any substantial part of its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any foreign laws relating
to insolvency, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) is for relief against the Issuer or any Significant Subsidiary in an involuntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) appoints a Custodian of the Issuer or any Significant Subsidiary or for any substantial part of its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) orders the winding up or liquidation of the Issuer or any Significant Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 60 days, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the Issuer or any Significant Subsidiary fails to pay final judgments aggregating in excess of &#128;50.0&nbsp;million or
its foreign currency equivalent (net of any amounts which are covered by enforceable insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period of 60 days following the entry thereof or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any Guarantee of a Significant Subsidiary with respect to the Securities ceases to be in full force and effect (except as
contemplated by the terms thereof) or any Guarantor that qualifies as a Significant Subsidiary denies or disaffirms its obligations under this Indenture or any Guarantee with respect to the Securities and such Default continues for 10 days. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The foregoing shall constitute Events of Default whatever the reason for any such Event of
Default and whether it is voluntary or involuntary or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The term &#147;Bankruptcy Law&#148; means Title 11, United States Code, or any similar federal or state law or similar applicable law of any
jurisdiction for the relief of debtors. The term &#147;Custodian&#148; means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Default under clause (d)&nbsp;above shall not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal
amount of the Securities notify the Issuer of the Default and the Issuer does not cure such Default within the time specified in clause (d)&nbsp;above after receipt of such notice. Such notice must specify the Default, demand that it be remedied and
state that such notice is a &#147;Notice of Default.&#148; The Issuer shall deliver to the Trustee, within thirty (30)&nbsp;days after the occurrence thereof, written notice in the form of an Officer&#146;s Certificate of any event which is, or with
the giving of notice or the lapse of time or both would become, an Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.02 <U>Acceleration</U>. If an Event of Default (other than an Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with
respect to the Issuer) occurs with respect to the Securities and is continuing, the Trustee or the Holders of at least 25% in principal amount of Securities, by notice to the Issuer may declare the principal of, premium, if any, and accrued but
unpaid interest on all the Securities to be due and payable; <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be effective until the earlier of (i)&nbsp;five (5)&nbsp;Business
Days after the giving of written notice to the Issuer and the Representative under the Bank Credit Facilities and (ii)&nbsp;the day on which any Bank Indebtedness is accelerated. Upon such a declaration, such principal and interest shall be due and
payable immediately. If an Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer occurs, the principal of, premium, if any, and interest on all the Securities shall become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may rescind any such acceleration and its consequences. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event of any Event of Default specified in Section&nbsp;6.01(e), such Event of Default and all consequences thereof (excluding,
however, any resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders of the Securities, if within 20 days after such Event of Default arose the Issuer delivers an
Officer&#146;s Certificate to the Trustee stating that (x)&nbsp;the Indebtedness or guarantee that is the basis for such Event of Default has been discharged or (y)&nbsp;the holders thereof have rescinded or waived the acceleration, notice or action
(as the case may be) giving rise to such Event of Default or (z)&nbsp;the default that is the basis for such Event of Default has been cured, it being understood that in no event shall an acceleration of the principal amount of the Securities as
described above be annulled, waived or rescinded upon the happening of any such events. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.03 <U>Other Remedies</U>. If an Event
of Default occurs and is continuing, the Trustee may pursue any available remedy at law or in equity to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this
Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may maintain a proceeding even if it does not possess any of the Securities or does
not produce any of them in the proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the
Event of Default. No remedy is exclusive of any other remedy. To the extent required by law, all available remedies are cumulative. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.04 <U>Waiver of Past Defaults</U>. Provided the Securities are not then due and payable by reason of a declaration of acceleration,
the Holders of a majority in principal amount of the outstanding Securities by written notice to the Trustee may waive an existing Default or Event of Default and its consequences except (a)&nbsp;a Default in the payment of the principal of or
interest on a Security, (b)&nbsp;a Default arising from the failure to redeem or purchase any Security when required pursuant to the terms of this Indenture or (c)&nbsp;a Default in respect of a provision that under Section&nbsp;9.02 cannot be
amended without the consent of each Holder affected. When a Default is waived, it is deemed cured and the Issuer, the Trustee and the Holders will be restored to their former positions and rights under this Indenture, but no such waiver shall extend
to any subsequent or other Default or impair any consequent right. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.05 <U>Control by Majority</U>. The Holders of a majority in
principal amount of the outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse
to follow any direction that conflicts with law or this Indenture or, subject to Section&nbsp;7.01, is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal or financial liability. Prior to taking any
action under this Indenture, the Trustee shall be entitled to indemnification and security satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.06 <U>Limitation on Suits</U>. (a)&nbsp;Except to enforce the right to receive payment of principal, premium (if any) or interest
when due, no Holder may pursue any remedy with respect to this Indenture or the Securities unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Holder gives to
the Trustee written notice stating that an Event of Default is continuing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Holders of at least 25% in principal
amount of the outstanding Securities make a written request to the Trustee to pursue the remedy; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such Holder or
Holders offer to the Trustee reasonable security and indemnity satisfactory to the Trustee against any loss, liability or expense; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee does not comply with the request within 60 days after receipt of the request and the offer of security or
indemnity; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the Holders of a majority in principal amount of the Securities do not give the Trustee a direction
inconsistent with the request during such 60-day period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) A Holder may not use this Indenture to prejudice the rights
of another Holder or to obtain a preference or priority over another Holder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.07 <U>Rights of the Holders to Receive Payment</U>. Notwithstanding any other provision
of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the Securities, or to bring suit for the enforcement
of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.08
<U>Collection Suit by Trustee</U>. If an Event of Default specified in Section&nbsp;6.01(a) or (b)&nbsp;occurs and is continuing with respect to Securities, the Trustee may recover judgment in its own name and as trustee of an express trust against
the Issuer or any other obligor on the Securities for the whole amount then due and owing (together with interest on overdue principal and (to the extent lawful) on any unpaid interest at the rate provided for in such Securities) and the amounts
provided for in Section&nbsp;7.07. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.09 <U>Trustee May File Proofs of Claim</U>. The Trustee may file such proofs of claim and
other papers or documents as may be necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses disbursements and advances of the Trustee (including counsel, accountants, experts or
such other professionals as the Trustee deems necessary, advisable or appropriate)) and the Holders of the Securities then outstanding allowed in any judicial proceedings relative to the Issuer or any Guarantor, its creditors or its property, shall
be entitled to participate as a member, voting or otherwise, of any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in
bankruptcy or other Person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such
payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under
Section&nbsp;7.07. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.10 <U>Priorities</U>. If the Trustee collects any money or property pursuant to this Article 6, it shall pay
out the money or property in the following order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">FIRST: to the Trustee (in all of its roles and capacities) for amounts
due under Section&nbsp;7.07; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECOND: to the Holders for amounts due and unpaid on the Securities for principal, premium,
if any, and interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIRD: to the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may fix a record date and payment date for any payment to the Holders pursuant to
this Section. At least 15 days before such record date, the Trustee shall mail to each Holder and the Issuer a notice that states the record date, the payment date and amount to be paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.11 <U>Undertaking for Costs</U>. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys&#146; fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section&nbsp;6.07 or a suit by Holders of more than 10% in principal amount of the outstanding Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.12 <U>Waiver of Stay or Extension Laws</U>. Neither the Issuer nor any Guarantor (to the extent it may lawfully do so) shall at any
time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Issuer and each Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee,
but shall suffer and permit the execution of every such power as though no such law had been enacted. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 7 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRUSTEE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.01
<U>Duties of Trustee</U>. (a)&nbsp;If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person
would exercise or use under the circumstances in the conduct of such person&#146;s own affairs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except during the
continuance of an Event of Default: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee (it being agreed that the permissive right of the Trustee to do things enumerated in this Indenture shall not be
construed as a duty); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee shall be under no duty to make any investigation as to
any statement contained in any such instance, but may accept the same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of certificates or opinions required by any provision
hereof to be provided to it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the form required by this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may not be relieved from liability for its own grossly negligent
action, its own grossly negligent failure to act or its own willful misconduct, except that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) this paragraph does not
limit the effect of paragraph (b)&nbsp;of this Section; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee shall not be liable for any error of judgment
made in good faith by a Responsible Officer of the Trustee unless it is proved that the Trustee was grossly negligent in ascertaining the pertinent facts; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section&nbsp;6.05; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) no provision of this Indenture shall require the Trustee
to expend or risk its own funds or otherwise Incur financial or personal liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b)&nbsp;and
(c)&nbsp;of this Section. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Issuer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Money held in trust by the Trustee need not be segregated from other
funds except to the extent required by law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Every provision of this Indenture relating to the conduct or affecting the
liability of or affording protection to the Trustee shall be subject to the provisions of this Section. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.02 <U>Rights of
Trustee</U>. (a)&nbsp;The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact, calculation or matter stated in the document.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before the Trustee acts or refrains from acting, it may require an Officer&#146;s Certificate or an Opinion of Counsel
or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer&#146;s Certificate or Opinion of Counsel. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may act through agents and shall not be responsible for the misconduct or gross negligence of any agent
appointed with due care. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Trustee shall not be liable for any action it takes or omits to take in
good faith which it believes to be authorized or within its rights or powers; <I>provided</I>, <I>however</I>, that the Trustee&#146;s conduct does not constitute willful misconduct or gross negligence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing to do so by the Holders of not less than a majority in
principal amount of the Securities at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuer and shall Incur no liability of any kind by reason of such inquiry or
investigation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses (including reasonable
attorney&#146;s fees and expenses) and liabilities which might be incurred by it in compliance with such request or direction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its roles and capacities hereunder, and each agent, custodian and other Person appointed or employed to act hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The Trustee shall not be liable for any action taken or omitted by it in good faith at the direction of the Holders of not
less than a majority in principal amount of the Securities as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred by this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture upon the request or
authority or consent of any Person who, at the time of making such request or giving such authority or consent, is the Holder of any Security shall be conclusive and binding upon future Holders of Securities and upon Securities executed and
delivered in exchange therefor or in place thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) Unless otherwise specifically provided in this Indenture, any
demand, request, direction or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The Trustee shall not be charged with knowledge or deemed with notice of any
Default of Event of Default with respect to the Securities unless either (A)&nbsp;a Responsible Officer of the Trustee assigned to the Corporate Trust department of the Trustee (or any successor division or department of the Trustee) shall have
actual knowledge of such Default or Event of Default or (B)&nbsp;written notice of such Default or Event of Default shall have been given to the Trustee at its Corporate Trust Office by the Issuer or any other obligor on the Securities or by any
Holder of the Securities, such notice specifically identifying this Indenture and the Securities. For purposes of determining the Trustee&#146;s responsibility and liability hereunder, whenever reference is made in this Indenture to a Default or
Event of Default, such reference shall be construed to refer only to such Default or Event of Default for which the Trustee is deemed to have notice pursuant to this Section&nbsp;7.02(l). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) The Trustee may request that the Company deliver an Officer&#146;s Certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer&#146;s Certificate may be signed by any person authorized to sign an Officer&#146;s Certificate, including any person specified as
so authorized in any such certificate previously delivered and not superseded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) The permissive rights of the Trustee
enumerated herein shall not be construed as duties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) In respect of this Indenture, the Trustee shall not have any duty
or obligation to verify or confirm that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports,
notices or other communications or information on behalf of the party purporting to send such electronic transmission; and the Trustee shall not have any liability for any losses, liabilities, costs or expenses incurred or sustained by any party as
a result of such reliance upon or compliance with such instructions, directions, reports, notices or other communications or information. Each other party agrees to assume all risks arising out of the use of electronic methods to submit
instructions, directions, reports, notices or other communications or information to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, notices, reports or other communications or information, and
the risk of interception and misuse by third parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) In no event shall the Trustee be responsible or liable for any
special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the
form of action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) The Trustee shall have no obligation or duty to ensure compliance with the securities laws of any
country or state except to request such certificates or other documents required to be obtained by the Trustee or any Registrar hereunder in connection with any exchange or transfer pursuant to the terms hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility
hereunder by reason of any occurrence beyond the control of the Trustee (including but not limited to any act or provision of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance or disaster, any act of terrorism, or the unavailability of the
Federal Reserve Bank wire or facsimile or other wire or communication facility). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.03 <U>Individual Rights of Trustee</U>. The
Trustee in its individual or any other capacity may become the owner or pledgee of Securities and may otherwise deal with the Issuer or their Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do
the same with like rights. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.04 <U>Trustee&#146;s Disclaimer</U>. The Trustee shall not be responsible for and makes no
representation as to the validity or adequacy of this Indenture, any Guarantee or the Securities, it shall not be accountable for the Issuer&#146;s use of the proceeds from the Securities, and it shall not be responsible for any statement of the
Issuer or any Guarantor in this Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee&#146;s certificate of authentication. The Trustee shall not be charged with knowledge of
any Default or Event of Default under Sections 6.01(c), (d), (e), (f), (g), (h), or (i)&nbsp;or of the identity of any Significant Subsidiary unless either (a)&nbsp;a Responsible Officer of the Trustee shall have actual knowledge thereof or
(b)&nbsp;the Trustee shall have received written notice thereof in accordance with Section&nbsp;11.03 hereof from the Issuer, any Guarantor or any Holder. In accepting the trust hereby created, the Trustee acts solely as Trustee for the Holders of
the Securities and not in its individual capacity and all persons, including without limitation the Holders of Securities and the Issuer having any claim against the Trustee arising from this Indenture shall look only to the funds and accounts held
by the Trustee hereunder for payment except as otherwise provided herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.05 <U>Notice of Defaults</U>. If a Default occurs and
is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee shall electronically deliver or mail to each Holder of the Securities notice of the Default within the earlier of 90 days after it occurs or 30 days after
it is actually known to a Responsible Officer of the Trustee or written notice of it is received by the Trustee. Except in the case of a Default in the payment of principal of, premium (if any) or interest on any Security, the Trustee may withhold
the notice if and so long as a Responsible Officer of the Trustee in good faith determines that withholding the notice is in the interests of the Holders of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.06 <U>Affiliate Subordination Agreement</U>. The Trustee is hereby authorized by the Company, and by its acceptance of the
Securities issued hereunder each Holder hereby authorizes the Trustee, to enter into and perform the affiliate subordination agreement dated as of May&nbsp;7, 2014 among the Trustee and the parties thereto, on behalf of the Holders and any
amendments relating thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.07 <U>Compensation and Indemnity</U>. The Issuer shall pay to the Trustee from time to time
reasonable compensation for its services. The Trustee&#146;s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the Trustee upon request for all reasonable out-of-pocket expenses
incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee&#146;s agents, counsel,
accountants and experts. The Issuer shall indemnify the Trustee against any and all loss, liability, claim, damage or expense (including reasonable attorneys&#146; fees </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and expenses) incurred by or in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this
Indenture or Guarantee against the Issuer or a Guarantor (including this Section&nbsp;7.07) and defending itself against or investigating any claim (whether asserted by the Issuer, any Guarantor, any Holder or any other Person). The obligation to
indemnify and pay such amounts shall survive the payment in full or defeasance of the Securities or the removal or resignation of the Trustee. The Trustee shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining
actual knowledge thereof; <I>provided</I>, <I>however</I>, that any failure so to notify the Issuer shall not relieve the Issuer of its indemnity obligations hereunder. The Issuer shall defend the claim and the indemnified party shall provide
reasonable cooperation at the Issuer&#146;s expense in the defense. Such indemnified parties may have separate counsel and the Issuer shall pay the fees and expenses of such counsel; <I>provided</I>, <I>however</I>, that the Issuer shall not be
required to pay such fees and expenses if it assumes such indemnified parties&#146; defense and, in such indemnified parties&#146; reasonable judgment, there is no conflict of interest between the Issuer and such parties in connection with such
defense. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense incurred by an indemnified party through such party&#146;s own willful misconduct, gross negligence or bad faith, as determined by a court of
competent jurisdiction in a final, non-appealable ruling. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To secure the Issuer&#146;s payment obligations in this Section, the Trustee
shall have a Lien prior to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer&#146;s payment obligations pursuant to this Section shall survive the satisfaction or discharge of this Indenture, any rejection or
termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses after the occurrence of a
Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise Incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if repayment of such funds or adequate indemnity or security against such risk or liability is not assured to its satisfaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.08 <U>Replacement of Trustee</U>. (a)&nbsp;The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority
in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) [reserved]; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee is adjudged bankrupt or insolvent; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) a receiver or other public officer takes charge of the Trustee or its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee otherwise becomes incapable of acting. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If the Trustee resigns, is removed by the Issuer or by the Holders of a
majority in principal amount of the Securities and such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the
retiring Trustee), the Issuer shall promptly appoint a successor Trustee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) A successor Trustee shall deliver a written
acceptance of its appointment to the retiring Trustee and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under
this Indenture. The successor Trustee shall mail a notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in
Section&nbsp;7.07. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is
removed, the retiring Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer&#146;s obligations under
Section&nbsp;7.07 shall continue for the benefit of the retiring Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.09 <U>Successor Trustee by Merger</U>. If the Trustee
consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall
be the successor Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall
succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such
Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the
successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 8 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISCHARGE OF INDENTURE; DEFEASANCE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.01 <U>Discharge of Liability on Securities; Defeasance</U>. This Indenture shall be discharged and shall cease to be of further
effect (except as to surviving rights of registration of transfer or exchange of Securities, as expressly provided for in this Indenture) as to all outstanding Securities when: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) either (i)&nbsp;all the Securities theretofore authenticated and delivered (other than Securities pursuant to
Section&nbsp;2.08 which have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have
been delivered to the Trustee for cancellation or (ii)&nbsp;all of the Securities (A)&nbsp;have become due and payable, (B)&nbsp;will become due and payable at their Stated Maturity within one year or (C)&nbsp;if redeemable at the option of the
Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer has irrevocably deposited or
caused to be deposited with the Trustee or its designee money, U.S. Government Obligations or a combination thereof in an amount sufficient in the written opinion of an Independent Financial Advisor delivered to the Trustee (which opinion shall only
be required if U.S. Government Obligations have been so deposited) to pay and discharge the entire Indebtedness on the Securities not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, and interest on the
Securities to the date of deposit together with irrevocable written instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Issuer and/or the Guarantors have paid all other sums payable under this Indenture; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer has delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel stating that all conditions
precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections
8.01(c) and 8.02, the Issuer at any time may terminate (i)&nbsp;all of its obligations under the Securities and this Indenture (with respect to such Securities) (&#147;legal defeasance option&#148;) or (ii)&nbsp;its obligations under Sections 4.02,
4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11 and 4.12 for the benefit of the Securities and the operation of Section&nbsp;5.01 and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with respect to Significant Subsidiaries of the Issuer only), 6.01(g)
(with respect to Significant Subsidiaries of the Issuer only), 6.01(h) and 6.01(i) (&#147;covenant defeasance option&#148;) for the benefit of the Holders of the Securities. The Issuer may exercise its legal defeasance option notwithstanding its
prior exercise of its covenant defeasance option. In the event that the Issuer exercises its legal defeasance option or its covenant defeasance option with respect to the Securities, the obligations of each Guarantor under its Guarantee of such
Securities shall be terminated simultaneously with the termination of the obligations terminated pursuant to such legal defeasance or covenant defeasance. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuer exercises its legal defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of
Default. If the Issuer exercises its covenant defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of Default specified in Section&nbsp;6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g), 6.01(h) or 6.01(i) or
because of the failure of the Issuer to comply with Section&nbsp;5.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon satisfaction of the conditions set forth herein and upon
request and at the expense of the Issuer, the Trustee shall acknowledge in writing the discharge of those obligations that the Issuer terminates. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding clauses (i)&nbsp;and (ii)&nbsp;above, the Issuer&#146;s
obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 7.07, 7.08 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the Issuer&#146;s obligations in Sections 7.07, 8.05 and 8.06 shall survive such
satisfaction and discharge. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.02 <U>Conditions to Defeasance</U>. (a)&nbsp;The Issuer may exercise its legal defeasance option or
its covenant defeasance option, in each case, with respect to the Securities only if: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Issuer irrevocably deposits
in trust with the Trustee or its designee money, U.S. Government Obligations or a combination thereof sufficient, in the case any U.S. Government Obligations are deposited, in the opinion of an Independent Financial Advisor, for the payment of
principal of and premium (if any) and interest on the Securities when due at maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Issuer delivers to the Trustee a certificate from an Independent Financial Advisor expressing their opinion that the
payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay principal,
premium, if any, and interest when due on all the Securities to maturity or redemption, as the case may be; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) 123 days
pass after the deposit is made and during the 123-day period no Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer occurs which is continuing at the end of the period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the deposit does not constitute a default under any other agreement binding on the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) in the case of the legal defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel stating
that (1)&nbsp;the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or (2)&nbsp;since the date of this Indenture there has been a change in the applicable U.S. Federal income tax law, in either case to
the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial owners will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such deposit and defeasance and will be subject to U.S.
Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) such exercise does not impair the right of any Holder to receive payment of principal, premium, if any, and interest on
such Holder&#146;s Securities on or after the due dates therefore or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) in the case of the covenant defeasance option, the Issuer shall have
delivered to the Trustee an Opinion of Counsel to the effect that the Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such deposit and defeasance and will be subject to Federal income tax on the
same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the Issuer delivers to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that all
conditions precedent to the defeasance and discharge of the Securities to be so defeased and discharged as contemplated by this Article 8 have been complied with. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such
Securities at a future date in accordance with Article 3. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.03 <U>Application of Trust Money</U>. The Trustee shall hold in trust
money or U.S. Government Obligations (including proceeds thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through each Paying Agent and in accordance with this
Indenture to the payment of principal of and interest on the Securities so discharged or defeased. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.04 <U>Repayment to
Issuer</U>. Each of the Trustee and each Paying Agent shall promptly turn over to the Issuer upon request any money or U.S. Government Obligations held by it as provided in this Article which, in the written opinion of an Independent Financial
Advisor delivered to the Trustee (which delivery shall only be required if U.S. Government Obligations have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or
defeasance in accordance with this Article 8. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to any applicable abandoned property law, the Trustee and each Paying Agent shall
pay to the Issuer upon written request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuer for payment as general creditors, and
the Trustee and each Paying Agent shall have no further liability with respect to such monies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.05 <U>Indemnity for U.S.
Government Obligations</U>. The Issuer shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government
Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.06 <U>Reinstatement</U>. If the Trustee or any Paying Agent is unable to apply any money or U.S. Government
Obligations in accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer&#146;s
obligations under this Indenture and the Securities so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any Paying Agent is permitted to apply all
such money or U.S. Government Obligations in accordance with this Article 8; <I>provided</I>, <I>however</I>, that, if the Issuer has made any payment of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
principal of or interest on, any such Securities because of the reinstatement of its obligations, the Issuer shall be subrogated to the rights of the Holders of such Securities to receive such
payment from the money or U.S. Government Obligations held by the Trustee or any Paying Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 9 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENTS AND WAIVERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.01 <U>Without Consent of the Holders</U>. The Issuer and the Trustee may amend this Indenture and the Securities without notice to
or consent of any Holder: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to cure any ambiguity, omission, mistake, defect or inconsistency; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to provide for the assumption by a Successor Company of the obligations of the Issuer under this Indenture and the
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to provide for the assumption by a Successor Guarantor of the obligations of a Guarantor under this
Indenture and the applicable Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) to provide for uncertificated Securities in addition to or in place of
certificated Securities (<I>provided</I> that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to add a Guarantee with respect to the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) to make any change that would provide additional rights or benefits to the Holders or that does not adversely affect the
legal rights of any such Holder under this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) to make changes relating to the transfer and legending of the
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) to secure the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred
upon the Issuer or any Guarantor; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) to make any change that does not adversely affect the rights of any Holder in any
material respect; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) to effect any provision of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) to provide for the issuance of Add-On Securities, which shall have terms substantially identical in all material respects
to the Original Securities, and which shall be treated, together with any outstanding Original Securities, as a single issue of securities; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) to evidence and provide for the acceptance and appointment under this
Indenture of a successor Trustee hereunder pursuant to the requirements hereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) to conform and evidence the release,
termination and discharge of any Guarantee or Lien securing the Securities when such release, termination or discharge is permitted by this Indenture; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) to conform the text of this Indenture, the Guarantees or the Securities to any provision of the &#147;Description of the
Notes&#148; contained in the Offering Memorandum to the extent such provision in the &#147;Description of the Notes&#148; contained in the Offering Memorandum was intended to be a verbatim recitation of a provision of this Indenture, the Guarantees
or the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.01 becomes effective, the Issuer shall deliver electronically or mail to
the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section&nbsp;9.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.02 <U>With Consent of the Holders</U>. The Issuer and the Trustee may amend this Indenture and the Securities with respect to the
Securities with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange for the Securities). However, without the
consent of each Holder of an outstanding Security affected, an amendment may not: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) reduce the amount of Securities
whose Holders must consent to an amendment, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) reduce the rate of or extend the time for payment of interest on any
Security, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) reduce the principal of or change the Stated Maturity of any Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) reduce the premium payable upon the redemption of any Security or change the time at which any Security may be redeemed in
accordance with Article 3, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) make any Security payable in money other than that stated in such Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) expressly subordinate the Securities or any Guarantee to any other Indebtedness of the Issuer or any Guarantor, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) impair the right of any Holder to receive payment of principal of, premium, if any, and interest on such Holder&#146;s
Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) make any change in Section&nbsp;6.04 or 6.07 or the second sentence of
this Section&nbsp;9.02, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) except as expressly permitted by this Indenture, modify the Guarantee of any Significant
Subsidiary, or the Guarantee of one or more Restricted Subsidiaries that collectively would, at the time of such amendment, represent a Significant Subsidiary in any manner adverse to the Holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">It shall not be necessary for the consent of the Holders under this Section&nbsp;9.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.02
becomes effective, the Issuer is required to deliver electronically or mail to the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of
an amendment under this Section&nbsp;9.02. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.03 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.04 <U>Revocation and Effect of Consents and Waivers</U>. (a)&nbsp;A consent to an amendment or a waiver by a Holder of a Security
shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder&#146;s Security, even if notation of the consent or waiver is not made on the Security. However, any
such Holder or subsequent Holder may revoke the consent or waiver as to such Holder&#146;s Security or portion of the Security if the Trustee receives the notice of revocation before the date on which the Trustee receives an Officer&#146;s
Certificate from the Issuer certifying that the requisite principal amount of Securities have consented. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective upon the (i)&nbsp;receipt
by the Issuer or the Trustee of consents by the Holders of the requisite principal amount of securities, (ii)&nbsp;satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto containing such
amendment or waiver and (iii)&nbsp;execution of such amendment or waiver (or supplemental indenture) by the Issuer and the Trustee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to
give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such
record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record
date. No such consent shall be valid or effective for more than 120 days after such record date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.05 <U>Notation on or Exchange
of Securities</U>. If an amendment, supplement or waiver changes the terms of a Security, the Issuer may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the
changed terms and return it to the Holder. Alternatively, if the Issuer so determines, the Issuer in exchange for the Security shall issue and the Trustee shall, upon receipt </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of a Written Order, authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such
amendment, supplement or waiver. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.06 <U>Trustee to Sign Amendments</U>. The Trustee shall sign any amendment, supplement or
waiver authorized pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment, the Trustee shall be
entitled to receive indemnity reasonably satisfactory to it and shall be provided with, and (subject to Section&nbsp;7.01) shall be fully protected in relying upon, an Officer&#146;s Certificate and an Opinion of Counsel (notwithstanding that no
Opinion of Counsel is required in the case of the addition of a Guarantor) stating that such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding
obligation of the Issuer and the Guarantors, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section&nbsp;9.03). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.07 <U>Payment for Consent</U>. Neither the Issuer nor any Affiliate of the Issuer shall, directly or indirectly, pay or cause to be
paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Securities unless such consideration is
offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.08 <U>Additional Voting Terms; Calculation of Principal Amount</U>. Except as otherwise set forth herein, all Securities issued
under this Indenture shall vote and consent separately on all matters as to which any of such Securities may vote. Determinations as to whether Holders of the requisite aggregate principal amount of Securities have concurred in any direction, waiver
or consent shall be made in accordance with this Article 9 and Section&nbsp;2.14. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 10 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GUARANTEES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.01
<U>Guarantees</U>. (a)&nbsp;Each Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees on a senior unsecured basis, as a primary obligor and not merely as a surety, to each Holder and to the Trustee and its successors
and assigns (i)&nbsp;the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all Obligations of the Issuer under this Indenture (including obligations to the Trustee) and the Securities,
whether for payment of principal of, premium, if any or interest on or in respect of the Securities and all other monetary obligations of the Issuer under this Indenture and the Securities and (ii)&nbsp;the full and punctual performance within
applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under this Indenture and the Securities (all the foregoing being hereinafter collectively called the &#147;Guaranteed
Obligations&#148;). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from each such Guarantor, and that each such Guarantor shall remain bound under this
Article 10 notwithstanding any extension or renewal of any Guaranteed Obligation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Guarantor waives presentation to, demand of payment from and protest to
the Issuer of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Guarantor hereunder shall not
be affected by (i)&nbsp;the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person under this Indenture, the Securities or any other agreement or otherwise;
(ii)&nbsp;any extension or renewal of this Indenture, the Securities or any other agreement; (iii)&nbsp;any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement;
(iv)&nbsp;the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any Guarantor; (v)&nbsp;the failure of any Holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed
Obligations; or (vi)&nbsp;any change in the ownership of such Guarantor, except as provided in Section&nbsp;10.03. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
Each Guarantor hereby waives any right to which it may be entitled to have its obligations hereunder divided among the Guarantors, such that such Guarantor&#146;s obligations would be less than the full amount claimed. Each Guarantor hereby waives
any right to which it may be entitled to have the assets of the Issuer first be used and depleted as payment of the Issuer&#146;s or such Guarantor&#146;s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor
hereunder. Each Guarantor hereby waives any right to which it may be entitled to require that the Issuer be sued prior to an action being initiated against such Guarantor. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Each Guarantor further agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when
due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Guarantee of each Guarantor is, to the extent and in the manner set forth in this Article 10, equal in right of payment
to all existing and future Pari Passu Indebtedness and senior in right of payment to all existing and future Subordinated Indebtedness of the Issuer and is made subject to such provisions of this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Except as expressly set forth in Sections 8.01, 10.02 and 10.06, the obligations of each Guarantor hereunder shall not be
subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be discharged or impaired or
otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure
or delay, willful or otherwise, in the performance of the obligations, or by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise operate as a discharge
of any Guarantor as a matter of law or equity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Each Guarantor agrees that its Guarantee shall be a continuing
guarantee and shall remain in full force and effect until payment in full of all the Guaranteed Obligations, subject to the other terms of this Indenture. Each Guarantor further agrees that its Guarantee herein shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of
the Issuer or otherwise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) In furtherance of the foregoing and not in limitation of any other right which any Holder or
the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration,
by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the
Trustee an amount equal to the sum of (i)&nbsp;the unpaid principal amount of such Guaranteed Obligations, (ii)&nbsp;accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by applicable law) and
(iii)&nbsp;all other monetary obligations of the Issuer to the Holders and the Trustee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Each Guarantor agrees that it
shall not be entitled to any right of subrogation in relation to the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the
one hand, and the Holders and the Trustee, on the other hand, (i)&nbsp;the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Guarantee herein, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii)&nbsp;in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such
Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Guarantor for the purposes of this Section&nbsp;10.01. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Each Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys&#146; fees and expenses)
incurred by the Trustee or any Holder in enforcing any rights under this Section&nbsp;10.01. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) To the fullest extent permitted by applicable law but subject to the limitations set out in Section&nbsp;10.02 below, each
Guarantor waives any defense based on or arising out of any defense of the Issuer or any other Guarantor or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of
the Issuer or any other Guarantor, other than the payment in full in cash of all the Guaranteed Obligations. Subject to the limitations set out in Section&nbsp;10.02 below, the Trustee (acting at the direction of the Holders pursuant to
Section&nbsp;6.05) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
may, in accordance with the terms of this Indenture, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the Issuer or any Guarantor or exercise any
other right or remedy available to it against the Issuer or any other Guarantor, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Guaranteed Obligations have been paid in full in cash. To
the fullest extent permitted by applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation
or other right or remedy of such Guarantor against the Issuer or any other Guarantor, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.02 <U>Limitation on
Liability</U>. (a)&nbsp;Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Guarantor shall not exceed the maximum amount that can be hereby
guaranteed without (i)&nbsp;rendering this Indenture, as it relates to such Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally or
(ii)&nbsp;resulting in any breach of corporate benefit, financial assistance, fraudulent preference, thin capitalization laws, retention of title claims, capital maintenance rules, general statutory limitations, or the laws or regulations (or
analogous restrictions) of any applicable jurisdiction or any similar principles which may limit the ability of any Foreign Subsidiary to provide a Guarantee or may require that the Guarantee be limited by an amount or scope or otherwise. Each
Guarantor, and by its acceptance of Securities, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent conveyance for purposes of Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Guarantee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) (i) To the extent that any Guarantee is granted by a German entity (a &#147;German Guarantor&#148;) incorporated as a
limited liability company (<I>Gesellschaft mit beschr&auml;nkter Haftung</I>) (&#147;GmbH&#148;) or a limited partnership (<I>Kommanditgesellschaft</I>) (&#147;KG&#148;) with a limited liability company as sole general partner (&#147;GmbH&nbsp;&amp;
Co. KG&#148;) and that such Guarantee secures liabilities other than the own liabilities of the relevant German Guarantor or any of its subsidiaries, the Guarantee will be limited to such amount (I)&nbsp;as is required to ensure that the amount of
the German Guarantor&#146;s net assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG), calculated as the sum of the balance sheet positions shown under section 266 sub-section (2)&nbsp;(A), (B),
(C)&nbsp;and (D)&nbsp;of the German Commercial Code (<I>Handelsgesetzbuch</I>) (&#147;HGB&#148;) less the sum of the amounts shown under balance sheet positions shown under section 266 (3)&nbsp;(B), (C), (D)&nbsp;and (E)&nbsp;HGB and any amounts not
available for distribution to its shareholders in accordance with section 268 sub-section (8)&nbsp;HGB, does not fall below the amount of its registered share capital (<I>Stammkapital</I>); or (II) where the amount of the German Guarantor&#146;s net
assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG) already is below the amount of its registered share capital, as is required as to ensure that such amount is not further reduced. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The limits in clauses (I)&nbsp;and (II) of Section&nbsp;10.02(b)(i) will not apply (A)&nbsp;to the extent that the
Guarantees of the relevant German Guarantor relate to the relevant German Guarantor&#146;s Indirect Borrowings; (B)&nbsp;if following </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee, the relevant German Guarantor (or its general partner if the relevant German
Guarantor is a limited partnership) does not provide financial statements in accordance with Section&nbsp;10.02(b)(iv) and (v)&nbsp;below; (C)&nbsp;if the relevant German Guarantor (or, if the German Guarantor is a GmbH&nbsp;&amp; Co. KG, its
general partner) (as dominated entity) is party to a domination and/or profit and loss transfer agreement (<I>Beherrschungs- und/oder Gewinnabf&uuml;hrungsvertrag</I>) (a &#147;DPTA&#148;), unless the Guarantor&#146;s claim for absorption of losses
pursuant to section 302 German Stock Corporation Act (<I>Aktiengesetz</I>) is or cannot be expected to be fully recoverable (unless a higher or supreme court has found by way of a final judgment that the requirement of a fully recoverable
counterclaim is not applicable if a DPTA is in place); or (D)&nbsp;if and to the extent the German Guarantor holds on the date of enforcement of the guarantee made herein a fully recoverable indemnity claim or claim for refund (<I>vollwertiger
Gegenleistungs- oder R&uuml;ckgew&auml;hranspruch</I>) against its shareholder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) If, following a legislative
amendment of, or the rendering of a final judgment by the Federal High Court of Justice with respect to, section 30 et seq. German Limited Liability Companies Act (<I>Gesetz betreffend die Gesellschaften mit beschrankter Haftung</I>)
(&#147;GmbHG&#148;) after the date of this Indenture, the German Guarantor submits reasonably satisfactory evidence that the exception referred to in clause (C)&nbsp;of Section&nbsp;10.02(b)(ii) above is no longer required to protect the management
of the German Guarantor from personal liability under sections 30 et seq. and 43 GmbHG, such clause (C)&nbsp;shall no longer apply. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the purpose of the calculation of the net assets of a German Guarantor, the following balance sheet items shall be
adjusted as follows: (A)&nbsp;the amount of any increase of the German Guarantor&#146;s or its general partner&#146;s registered share capital after the date of this Indenture, to the extent that it is not fully paid up, shall be deducted from the
German Guarantor&#146;s or its general partner&#146;s registered share capital; (B)&nbsp;loans provided to the German Guarantor or its general partner by the Issuer or any Guarantor shall be disregarded if and to the extent those loans are
subordinated or are considered subordinated pursuant to section 39 para. 1 no. 5 and/or para. 2 of the German Insolvency Code (<I>Insolvenzordnung &#150; InsO</I>); and (C)&nbsp;loans or other liabilities incurred in violation of the provisions of
this Indenture shall be disregarded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) For the purpose of the calculation of the net assets, the relevant German
Guarantor will deliver (within 15 Business Days following the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee) to the Trustee a notification stating to which extent the amount payable in
respect of its Guarantee shall be limited in accordance with clauses (b)(i)(I) and (b)(i)(II) of this Section&nbsp;10.02 above and taking into account the adjustments in clause (b)(iv) of this Section&nbsp;10.02 above, such notification to be
supported by interim financial statements (<I>Stichtagsbilanz</I>) showing the balance sheet positions mentioned in clause (b)(i)(I) above as of the relevant date (the &#147;Management Determination&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Following the Trustee&#146;s receipt of the Management Determination, upon
the Trustee&#146;s request (acting at the direction of the Holders pursuant to Section&nbsp;6.05 hereof) (the &#147;Trustee&#146;s Request&#148;), the relevant German Guarantor (or its general partner if the relevant German Guarantor is a limited
partnership) will deliver (within 25 Business Days following receipt of the Trustee&#146;s Request) to the Trustee an up-to-date balance sheet drawn-up by a firm of auditors of international standing and repute together with a determination of the
net assets. Such balance sheet and determination of net assets shall be prepared in accordance with accounting principles pursuant to the German Commercial Code and be based on the same principles that were applied when establishing the previous
year&#146;s balance sheet. The determination by the auditors (as set forth above, the &#147;Auditors&#146; Determination&#148;) pertaining to the relevant German Guarantor or, in the case of a GmbH&nbsp;&amp; Co. KG, its general partner shall have
been prepared as of the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) The Trustee (acting at the direction of the Holders pursuant to Section&nbsp;6.05) shall be entitled to demand payment
under the Guarantee in an amount which would, in accordance with the Management Determination or, if applicable and taking into account any previous enforcement in accordance with the Management Determination, the Auditors&#146; Determination, not
cause the German Guarantor&#146;s net assets (or if the German Guarantor is a limited partnership, its general partner&#146;s net assets) to be reduced below zero or further reduced if already below zero. If and to the extent the net assets as
determined by the Auditors&#146; Determination are lower than the amount enforced in accordance with the Management Determination, the Trustee shall release to the relevant German Guarantor (or if the German Guarantor is a limited partnership, to
its general partner) such exceeding enforcement proceeds. The Trustee may (acting at the direction of the Holders pursuant to Section&nbsp;6.05) withhold any amount received pursuant to an enforcement of this guarantee until final determination of
the amount of the net assets pursuant to the Auditors&#146; Determination. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) In a situation where the relevant German
Guarantor does not have sufficient net assets to maintain its registered share capital the relevant German Guarantor shall within three months after a written request by the Trustee (acting at the direction of the Holders pursuant to
Section&nbsp;6.05), to the extent commercially justifiable, dispose of all assets which are not necessary for its business (<I>nicht betriebsnotwendig</I>) on market terms where the relevant assets are shown in the balance sheet of the relevant
German Guarantor with a book value which is significantly lower than the market value of such assets. After the expiry of such three-month period the German Guarantor shall, within three Business Days, notify the Trustee of the amount of the net
proceeds from the sale and submit a statement with a new calculation of the amount of the net assets of the German Guarantor (or if the German Guarantor is a limited partnership, of its general partner) taking into account such proceeds. Such
calculation shall, upon the Trustee&#146;s request (acting at the direction of the Holders pursuant to Section&nbsp;6.05), be confirmed by one of the auditors of the German Guarantor within a period of 15 Business Days following the request. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) (i) Subject to clause (v)&nbsp;below and notwithstanding any contrary
indication in this Indenture, in relation to a Guarantor organized under the laws of France (a &#147;French Guarantor&#148;), its Guarantee shall be limited to the payment obligations of the Issuer up to an amount equal to the aggregate of all
outstanding amounts issued directly by the Issuer under this Indenture or indirectly (through an issuance (an &#147;Indirect Issuance&#148;) by the Issuer of Add-On Securities under this Indenture) and to the extent on-lent directly or indirectly
to, or used to refinance any indebtedness previously on-lent directly or indirectly to, such French Guarantor and/or its Subsidiaries and in all cases to the extent of the amounts so on-lent remaining due by such French Guarantor and/or its
Subsidiaries from time to time (the &#147;Maximum Guaranteed Amount&#148;); it being specified that any payment made by such French Guarantor under this Article 10 in respect of the obligations of the Issuer shall reduce <I>pro tanto</I> the
outstanding amount of the intercompany loans (if any) due by such French Guarantor to the Issuer under such Indirect Issuance. For the avoidance of doubt, any payment made by a French Guarantor under this clause (B)&nbsp;shall reduce the Maximum
Guaranteed Amount by the amount paid. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) It is acknowledged that, notwithstanding any provision to the contrary in this
Indenture, no French Guarantor is acting jointly and severally with the other Guarantors and no French Guarantor shall therefore be considered as &#147;<I><FONT STYLE="white-space:nowrap">co-d&eacute;biteurs</FONT> solidaires</I>&#148; within the
meaning of article 1216 of the French <I>Code civil</I> with the other Guarantors as to its Guarantee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) For the
purpose of Section&nbsp;10.02(c)(i) above &#147;Subsidiary&#148; means, in relation to any company, any other company which is controlled by it within the meaning of article L.233-3 of the French Code de commerce. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the avoidance of doubt, the limitations set out in Section&nbsp;10.02(c)(i) and Section&nbsp;10.02(c)(ii) above with
respect to the payment obligation of any French Guarantor under the Guarantee shall apply mutatis mutandis with respect to any other indemnity, guarantee or any other undertaking of any French Guarantor contained in this Indenture having the same or
a similar effect. Any payment made by a French Guarantor under any such indemnity, guarantee or undertaking shall reduce the Maximum Guaranteed Amount by the amount paid. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding any other provision to the contrary, no French Guarantor shall grant a Guarantee covering any Indebtedness
which would result in such French Guarantor not complying with French financial assistance rules as set out in article L. 225-216 of the French Code de Commerce or any other law or regulations having the same effect, as interpreted by French courts
and/or would constitute a misuse of corporate assets within the meaning of articles L. <FONT STYLE="white-space:nowrap">241-3,</FONT> L. <FONT STYLE="white-space:nowrap">242-6</FONT> or L. 244-1 of the French Code de Commerce or any other law or
regulations having the same effect, as interpreted by French courts. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) (i) Notwithstanding any contrary indication in
this Indenture, in relation to a Guarantor organized under the laws of Switzerland (a &#147;Swiss Guarantor&#148;), its Guarantee and any other indemnity, security or other benefit, as well as any other undertaking contained in this Indenture having
the same or a similar effect, such as, but not limited to, the waiver of set-off or subrogation rights or the subordination of intra-group </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
claims, under this Indenture and the Securities for, or with respect to, obligations of any other obligor (other than the direct or indirect Subsidiaries of such Swiss Guarantor) shall not exceed
at any time the amount of such Swiss Guarantor&#146;s freely disposable equity in accordance with Swiss law, presently being the total shareholder equity less the total of (A)&nbsp;the aggregate share capital and (B)&nbsp;statutory reserves
(including reserves for own shares and revaluations as well as agio). The amount of equity freely disposable shall be determined on the basis of an audited annual or interim balance sheet of the relevant Swiss Guarantor. This limitation shall only
apply to the extent it is a requirement under applicable law at the time the respective Swiss Guarantor is required to perform. Such limitation shall not free the respective Swiss Guarantor from its obligations in excess of the freely disposable
equity, but merely postpone the performance date therefor until such times as performance is again permitted notwithstanding such limitation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) If so required under applicable law (including double tax treaties) at the time it is required to make a payment under
this Indenture, each Swiss Guarantor: (A)&nbsp;may deduct the withholding tax due under the Swiss Federal Act on the Withholding Tax (the &#147;Withholding Tax&#148;) at the rate of 35&nbsp;per cent (or such other rate as is in force at that time)
from any payment deemed to be a constructive dividend; (B)&nbsp;may pay the Withholding Tax to the Swiss Federal Tax Administration; and (C)&nbsp;shall notify and provide evidence to the Trustee that the Withholding Tax has been paid to the Swiss
Federal Tax Administration. The respective Swiss Guarantor shall as soon as possible after the deduction of the Withholding Tax ensure that any Person which is, as a result of a payment under this Indenture, entitled to a full or partial refund of
the Withholding Tax, is in a position to apply for such refund under any applicable law (including double tax treaties) and, in case it has received any refund of the Withholding Tax, pay such refund to the Trustee for the benefit of the Holders
upon receipt thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Each Swiss Guarantor shall, and any shareholder of such Swiss Guarantor being a party hereto
shall procure that such Swiss Guarantor will, take and cause to be taken all and any other action, including without limitation, (A)&nbsp;preparation of an up-to-date audited balance sheet of such Swiss Guarantor, (B)&nbsp;the passing of any
shareholders&#146; resolutions to approve any payment or other performance under this Indenture or the Securities and (C)&nbsp;the obtaining of any confirmations (including confirmations by the respective Swiss Guarantor&#146;s auditors) which may
be required as a matter of Swiss mandatory law in force at the time the respective Swiss Guarantor is required to make a payment or perform other obligations under this Indenture or the Securities in order to allow a prompt payment as well as the
performance of other obligations under this Indenture or the Securities with a minimum of limitations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) If the
enforcement of obligations of a Swiss Guarantor would be limited due to the effects referred to in this clause, the Swiss Guarantor affected shall further, to the extent permitted by applicable law and Swiss accounting standards, write up any of its
assets that are shown in its balance sheet with a book value that is significantly lower than the market value of the assets. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.03 <U>Automatic Termination of Guarantees</U>. A Guarantee as to any Guarantor shall
automatically terminate and be of no further force or effect and such Guarantor shall automatically be deemed to be released from all obligations under this Article 10 upon: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (A) the sale, disposition or other transfer (including through merger or consolidation) of (x)&nbsp;the Capital Stock of
the applicable Guarantor to a Person who is not (either before or after giving effect to the transaction) the Issuer or a Restricted Subsidiary of the Issuer, following which the applicable Guarantor is no longer a Restricted Subsidiary or
(y)&nbsp;all or substantially all of the assets of such Guarantor, in each case, if such sale, disposition or other transfer is not prohibited by this Indenture, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Issuer designating such Guarantor to be an Unrestricted Subsidiary in accordance with the provisions set forth under
Section&nbsp;4.04 and the definition of &#147;Unrestricted Subsidiary,&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in the case of any Restricted Subsidiary
that after the Issue Date is required to guarantee the Securities pursuant to Section&nbsp;4.11, the release or discharge of the guarantee by such Restricted Subsidiary of the Indebtedness of the Issuer or any Guarantor, as the case may be, or the
repayment of the Indebtedness or Disqualified Stock, in each case, which resulted in the obligation to guarantee the Securities, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) the Issuer&#146;s exercise of its defeasance option under Article 8, or if the Issuer&#146;s obligations under this
Indenture are discharged in accordance with the terms of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In connection with the termination of any Guarantee pursuant to
this Section&nbsp;10.03, the Trustee shall execute and deliver to the Issuer and any Guarantor, at the Issuer or such Guarantor&#146;s expense, all documents that the Issuer or such Guarantor shall reasonably request to evidence such termination;
provided, however, that the Trustee shall be entitled to receive an Officer&#146;s Certificate and an Opinion of Counsel regarding such release before executing and delivering such documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.04 <U>Successors and Assigns</U>. This Article 10 shall be binding upon each Guarantor and its successors and assigns and shall
inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in
the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.05 <U>No Waiver</U>. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power
or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the
Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 10 at law, in equity, by statute or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.06 <U>Modification</U>. No modification, amendment or waiver of any provision of this
Article 10, nor the consent to any departure by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee (acting in accordance with the terms and conditions of this Indenture), and then
such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same,
similar or other circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.07 <U>Execution of Supplemental Indenture for Future Guarantors</U>. Each Subsidiary and other
Person which is required to become a Guarantor pursuant to Section&nbsp;4.11 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit B hereto pursuant to which such Subsidiary or other Person shall become a
Guarantor under this Article 10 and shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate to the effect that
such supplemental indenture has been duly authorized, executed and delivered by such Subsidiary or other Person and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws
relating to creditors&#146; rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a valid and binding obligation of such Guarantor, enforceable against such
Guarantor in accordance with its terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.08 <U>Non-Impairment</U>. The failure to endorse a Guarantee on any Security shall not
affect or impair the validity thereof. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 11 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MISCELLANEOUS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
11.01 <U>Ranking</U>. The indebtedness evidenced by the Securities will be unsecured senior Indebtedness of the Issuer, equal in right of payment to all existing and future senior Indebtedness of the Issuer and senior in right of payment to all
existing and future Subordinated Indebtedness of the Issuer. The indebtedness evidenced by the Guarantees will be unsecured senior Indebtedness of the applicable Guarantor, equal in right of payment to all existing and future senior Indebtedness of
such Guarantor and senior in right of payment to all existing and future Subordinated Indebtedness of such Guarantor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.02
<U>[Reserved]</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.03 <U>Notices</U>. (a)&nbsp;Any notice or communication required or permitted hereunder shall be in writing
and in English and delivered in person, via facsimile or mailed by first-class mail addressed as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">if to the Issuer or a
Guarantor: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tupolevlaan 41-61 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1119 NW
Schiphol-Rijk </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Amsterdam, Netherlands </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax: +31
20 654 97 96 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mark.kirkland@constellium.com </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">With a copy to </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Constellium </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Washington Plaza
&#150; 40/44, rue Washington </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">75008 Paris, France </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Jeremy Leach </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tel: +33 1
73 01 46 51 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email: jeremy.leach@constellium.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Constellium Switzerland A.G. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Max H&ouml;gger-Strasse 6 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">8048
Z&uuml;rich, Switzerland </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland, Group Treasurer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tel: +41 44 438 6642 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mark.kirkland@constellium.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">And </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Wachtell, Lipton,
Rosen&nbsp;&amp; Katz </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">51 West 52<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP> Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New York, NY 10019 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Josh
A. Feltman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tel: (212) 403-1109 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax: (212) 403-2109 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;jafeltman@wlrk.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">if to the Trustee: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Deutsche
Bank Trust Company Americas </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">60 Wall Street, 16th Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Mail Stop: NYC60-1630 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New
York, New York 10005 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Corporates Team Deal Manager &#150; Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax: 732-578-4635 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">With a copy
to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Deutsche Bank Trust Company Americas </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">c/o Deutsche Bank National Trust Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">100 Plaza One, Mailstop JCY03-0699 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Jersey City, New Jersey 07311 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Corporates Team Deal Manager &#150; Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax: 732-578-4635 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent
notices or communications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Any notice or communication mailed to a Holder shall be mailed, first class mail, to the
Holder at the Holder&#146;s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee are effective only if received. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.04 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.05 <U>Certificate and Opinion as to Conditions Precedent</U>. Upon any request or application by the Issuer to the Trustee to take
or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) an Officer&#146;s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers,
all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such
conditions precedent have been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.06 <U>Statements Required in Certificate or Opinion</U>. Each certificate or
opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section&nbsp;4.09) shall include: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a statement that the individual making such certificate or opinion has read such covenant or condition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a statement that, in the opinion of such individual, he has made
such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with;
<I>provided</I>, <I>however</I>, that with respect to matters of fact an Opinion of Counsel may rely on an Officer&#146;s Certificate or certificates of public officials. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.07 <U>When Securities Disregarded</U>. In determining whether the Holders of the required principal amount of Securities have
concurred in any direction, waiver or consent, Securities owned by the Issuer, any Guarantor or by any Person directly or indirectly </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
controlling or controlled by or under direct or indirect common control with the Issuer or any Guarantor shall be disregarded and deemed not to be outstanding, except that, for the purpose of
determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Subject to the foregoing, only
Securities outstanding at the time shall be considered in any such determination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.08 <U>Rules by Trustee, Paying Agent and
Registrar</U>. The Trustee may make reasonable rules for action by or a meeting of the Holders. The Registrar and a Paying Agent may make reasonable rules for their functions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.09 <U>Legal Holidays</U>. If a payment date is not a Business Day, payment shall be made on the next succeeding day that is a
Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the intervening period. If a regular record date is not a Business Day, the record date shall not be
affected. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.10 <U>GOVERNING LAW</U>. THIS INDENTURE, THE SECURITIES AND THE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.11 <U>Consent to
Jurisdiction and Service</U>. In relation to any legal action or proceedings arising out of or in connection with this Indenture, the Securities and the Guarantees, the Trustee (in the case of clauses (a)&nbsp;and (b)&nbsp;below only), the Issuer
and each Guarantor that is organized under laws other than the United States or a state thereof (a)&nbsp;irrevocably submits to the jurisdiction of the federal and state courts in the Borough of Manhattan in the City, County and State of New York,
United States, (b)&nbsp;consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or
proceeding was brought in an inconvenient court and agree not to plead or claim the same, (c)&nbsp;designates and appoints Constellium U.S. Holdings I, LLC, 830 Third Avenue, 9th floor, New York, NY 10022 as its authorized agent upon which process
may be served in any such action or proceeding that may be instituted in any such court and (d)&nbsp;agrees that service of any process, summons, notice or document by U.S. registered mail addressed to such agent for service of process, with written
notice of said service to such Person at the address of the agent for service of process set forth in clause (c)&nbsp;of this Section&nbsp;11.11 shall be effective service of process for any such action or proceeding brought in any such court. Each
of the Issuer, the Guarantors, the Trustee, Paying Agent and Registrar hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this
Indenture, the Securities or the transactions contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.12 <U>Currency Indemnity</U>. The U.S.&nbsp;Dollar is the
sole currency of account and payment for all sums payable by the Issuer or any Guarantor under or in connection with the Securities, including damages. Any amount with respect to the Securities or the Guarantees thereof received or recovered in a
currency other than U.S. Dollars, whether as a result of, or the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or any Guarantor or otherwise by any Holder or by the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Trustee, in respect of any sum expressed to be due to it from the Issuer or any Guarantor will only constitute a discharge to the Issuer or any Guarantor to the extent of the U.S.&nbsp;Dollar
amount that the recipient is able to purchase with the amount so received or recovered in such other currency on the date of such receipt or recovery (or, if it is not practicable to make such purchase on such date, on the first date on which it is
practicable to do so). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If that U.S.&nbsp;Dollar amount is less than the U.S.&nbsp;Dollar amount expressed to be due to the recipient or the Trustee under
the Securities, the Issuer and each Guarantor will indemnify such recipient and/or the Trustee against any loss sustained by it as a result. In any event, the Issuer and each Guarantor will indemnify the recipient against the cost of making any such
purchase. For the purposes of this Section&nbsp;11.12, it shall be prima facie evidence of the matter stated therein, for the Holder of a Security or the Trustee to certify in a manner satisfactory to the Issuer (indicating the sources of
information used) the loss it incurred in making any such purchase. These indemnities constitute a separate and independent obligation from the Issuer&#146;s and each Guarantor&#146;s other obligations, shall give rise to a separate and independent
cause of action, shall apply irrespective of any waiver granted by any Holder of a Security or the Trustee (other than a waiver of the indemnities set out herein) and will continue in full force and effect despite any other judgment, order, claim or
proof for a liquidated amount in respect of any sum due under any Security or to the Trustee. For the purposes of this Section&nbsp;11.12, it shall be sufficient for the Trustee or the Holder, as applicable, to certify (indicating the sources of
information used) that it would have suffered a loss had the actual purchase of U.S. Dollars been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars on such date had not been
practicable due to current market conditions generally, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.13 <U>No Recourse Against Others</U>. No director, officer, employee, manager or incorporator of, or holder of any Equity Interests
in, the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuer under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.14 <U>Successors</U>. All agreements of the Issuer and each Guarantor in this Indenture and the Securities shall bind its
successors. All agreements of the Trustee in this Indenture shall bind its successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.15 <U>USA PATRIOT Act Section&nbsp;326
Customer Identification Program</U>. The parties hereto acknowledge that in order to help the United States government fight the funding of terrorism and money laundering activities, pursuant to Federal regulations that became effective on
October&nbsp;1, 2003 (Section 326 of the USA PATRIOT Act) all financial institutions are required to obtain, verify, record and update information that identifies each person establishing a relationship or opening an account. The parties to this
Indenture agree that they will provide to the Trustee such information as it may request, from time to time, in order for the Trustee to satisfy the requirements of the USA PATRIOT Act, including but not limited to the name, address, tax
identification number and other information that will allow it to identify the individual or entity who is establishing the relationship or opening the account and may also ask for formation documents such as articles of incorporation or other
identifying documents to be provided. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.16 <U>Multiple Originals</U>. The parties may sign any number of copies of this
Indenture by manual, facsimile, pdf or other electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.17 <U>Table of Contents; Headings</U>. The table of contents, cross-reference sheet and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.18 <U>Indenture Controls</U>. If and to the extent that any provision of the Securities limits, qualifies or conflicts with a
provision of this Indenture, such provision of this Indenture shall control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.19 <U>Severability</U>. In case any provision in
this Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Pages Follow</I>] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM N.V.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM HOLDCO II B.V.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM US HOLDINGS I, LLC</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Yves Monette</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Yves Monette</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: CFO &amp; Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM FRANCE HOLDCO S.A.S.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM GERMANY HOLDCO GMBH&nbsp;&amp; CO. KG</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S. D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM SWITZERLAND AG</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM ROLLED PRODUCTS &#150; RAVENSWOOD, LLC</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Derek Scantlin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Derek Scantlin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: CFO</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM DEUTSCHLAND GMBH</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM SINGEN GMBH</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM FRANCE S.A.S.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM FINANCE S.A.S.</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>By: </B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>DEUTSCHE BANK NATIONAL TRUST COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rodney Gaughan</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rodney Gaughan</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Linda Reale</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Linda Reale</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>PROVISIONS RELATING TO ORIGINAL SECURITIES AND ADD-ON SECURITIES </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Definitions</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1. <U>Definitions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">For the purposes of this Appendix A the following terms shall have the meanings indicated below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Definitive Security&#148; means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is
restricted by applicable law) that does not include the Global Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Depository&#148; means The Depository Trust
Company, its nominees and their respective successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Global Securities Legend&#148; means the legend set forth under that
caption in the applicable Exhibit to this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;IAI&#148; means an institutional &#147;accredited investor&#148; as described
in Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Initial Purchasers&#148; means Deutsche Bank Securities
Inc., BNP Paribas, Goldman, Sachs&nbsp;&amp; Co., HSBC Bank plc, HSBC Securities (USA) Inc., Morgan Stanley&nbsp;&amp; Co. LLC, Natixis, Natixis Securities Americas LLC, Soci&eacute;t&eacute; G&eacute;n&eacute;rale and such other initial purchasers
listed on Schedule A to the Purchase Agreement entered into in connection with the offer and sale of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;QIB&#148;
means a &#147;qualified institutional buyer&#148; as defined in Rule 144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S&#148; means Regulation S under the
Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S Securities&#148; means all Securities offered and sold outside the United States in reliance on
Regulation&nbsp;S. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Period,&#148; with respect to any Securities, means the period of 40 consecutive days beginning on
and including the later of (a)&nbsp;the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given
by the Issuer to the Trustee, and (b)&nbsp;the Issue Date, and with respect to any Add-On Securities that are Transfer Restricted Securities, it means the comparable period of 40 consecutive days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Securities Legend&#148; means the legend set forth in Section&nbsp;2.2(f)(i) herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 501&#148; means Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A&#148; means Rule 144A under the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A Securities&#148; means all Securities offered and sold to QIBs in reliance on
Rule 144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Securities Custodian&#148; means the custodian with respect to a Global Security (as appointed by the Depository) or
any successor person thereto, who shall initially be the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Transfer Restricted Securities&#148; means Definitive Securities
and any other Securities that bear or are required to bear or are subject to the Restricted Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted
Definitive Security&#148; means Definitive Securities and any other Securities that are not required to bear, or are not subject to, the Restricted Securities Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Global Security&#148; means a Global Security which is not a Restricted Global Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2. <U>Other Definitions</U>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="33%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="65%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><U>Term</U>:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><U>Defined in Section</U>:</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Regulation S Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Rule 144A Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)(i)</TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>The Securities</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1. <U>Form and Dating; Global Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Original Securities issued on the date hereof will be (i)&nbsp;offered and sold by the Issuer pursuant to the Purchase Agreement and
(ii)&nbsp;resold, initially only to (1)&nbsp;QIBs in reliance on Rule 144A and (2)&nbsp;Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Original Securities may thereafter be transferred to, among
others, QIBs, purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. Add-On Securities offered after the date hereof may be offered and sold by the Issuer from time to time pursuant to one or more
purchase agreements in accordance with applicable law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Global Securities</U>. (i)&nbsp;Rule 144A Securities initially shall be
represented by one or more Securities in definitive, fully registered, global form without interest coupons (collectively, the &#147;Rule 144A Global Securities&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Regulation S Securities initially shall be represented by one or more Securities in fully registered, global form without
interest coupons (collectively, the &#147;Regulation S Global Securities&#148;), which shall be registered in the name of the Depository or the nominee of the Depository for the accounts of designated agents holding on behalf of Euroclear or
Clearstream. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The provisions of the &#147;Operating Procedures of the Euroclear System&#148; and &#147;Terms and
Conditions Governing Use of Euroclear&#148; and the &#147;General Terms and Conditions of Clearstream Banking&#148; and &#147;Customer Handbook&#148; of Clearstream shall be applicable to transfers of beneficial interests in the Regulation S Global
Securities that are held by participants through Euroclear or Clearstream. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The term &#147;Global Securities&#148; means the Rule 144A Global Securities and
the Regulation S Global Securities. The Global Securities shall bear the Global Security Legend. The Global Securities initially shall (i)&nbsp;be registered in the name of the Depository or the nominee of such Depository, in each case for credit to
an account of an Agent Member, (ii)&nbsp;be delivered to the Trustee as custodian for such Depository and (iii)&nbsp;bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Members of, or direct or indirect participants in, the Depository shall have no rights under this Indenture with respect to
any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Securities. The Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of
the Global Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other
authorization furnished by the Depository, or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Transfers of Global Securities shall be limited to transfer in whole, but not in part, to the Depository, its successors
or their respective nominees. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Definitive Securities only in accordance with the applicable rules and procedures of the Depository and the provisions of
Section&nbsp;2.2. In addition, a Global Security shall be exchangeable for Definitive Securities if (x)&nbsp;the Depository (1)&nbsp;notifies the Issuer that it is unwilling or unable to continue as depository for such Global Security and the Issuer
thereupon fails to appoint a successor depository or (2)&nbsp;has ceased to be a clearing agency registered under the Exchange Act or (y)&nbsp;there shall have occurred and be continuing an Event of Default with respect to such Global Security;
provided that in no event shall the Regulation S Global Securities be exchanged by the Issuer for Definitive Securities prior to (x)&nbsp;the expiration of the Restricted Period and (y)&nbsp;the receipt by the Registrar of any certificates required
pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act. In all cases, Definitive Securities delivered in exchange for any Global Security or beneficial interests therein shall be registered in the names, and issued in any approved denominations,
requested by or on behalf of the Depository in accordance with its customary procedures. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) In connection with the
transfer of a Global Security as an entirety to beneficial owners pursuant to subsection (i)&nbsp;of this Section&nbsp;2.1(b), such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and
the Trustee shall authenticate and make available for delivery, to each beneficial owner identified by the Depository in writing in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Definitive
Securities of authorized denominations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Transfer Restricted Security delivered in exchange for an interest in a
Global Security pursuant to Section&nbsp;2.2 shall, except as otherwise provided in Section&nbsp;2.2, bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding the foregoing, through the Restricted Period, a beneficial interest in such Regulation S Global Security
may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of Section&nbsp;2.2. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) The Holder of any Global Security may grant proxies and otherwise authorize any Person, including Agent Members and
Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2. <U>T</U><U>ransfer and Exchange</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Transfer and Exchange of Global Securities</U>. A Global Security may not be transferred as a whole except as set forth in
Section&nbsp;2.1(b). Global Securities will not be exchanged by the Issuer for Definitive Securities except under the circumstances described in Section&nbsp;2.1(b)(ii). Global Securities also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.08 and 2.10 of this Indenture. Beneficial interests in a Global Security may be transferred and exchanged as provided in Section&nbsp;2.2(b) or 2.2(g). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Transfer and Exchange of Beneficial Interests in Global Securities</U>. The transfer and exchange of beneficial interests in the Global
Securities shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Transfer Restricted Securities which are Global Securities
(&#147;Restricted Global Securities&#148;) shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in Global Securities shall be transferred or exchanged
only for beneficial interests in Global Securities. Transfers and exchanges of beneficial interests in the Global Securities also shall require compliance with either subparagraph (i)&nbsp;or (ii)&nbsp;below, as applicable, as well as one or more of
the other following subparagraphs, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer of Beneficial Interests in the Same Global
Security</U>. Beneficial interests in any Restricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Security in accordance with the transfer restrictions set
forth in the Restricted Securities Legend; <I>provided</I>,<I> however</I>, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Security may not be made to a U.S. Person or for the
account or benefit of a U.S. Person (other than an Initial Purchaser). A beneficial interest in an Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global
Security. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section&nbsp;2.2(b)(i). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>All Other Transfers and Exchanges of Beneficial Interests in Global Securities</U>. In connection with all transfers
and exchanges of beneficial interests in any Global Security that is not subject to Section&nbsp;2.2(b)(i), the transferor of such beneficial </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
interest must deliver to the Registrar (1)&nbsp;a written order from an Agent Member given to the Depository in accordance with the applicable rules and procedures of the Depository directing the
Depository to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be transferred or exchanged and (2)&nbsp;instructions given in accordance with the applicable rules and
procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Securities contained in
this Indenture and the Securities or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security pursuant to Section&nbsp;2.2(g). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Transfer of Beneficial Interests to Another Restricted Global Security</U>. A beneficial interest in a Restricted
Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Security if the transfer complies with the requirements of Section&nbsp;2.2(b)(ii) above and the Registrar
receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transferee will take delivery in the form of a beneficial interest in a Rule 144A
Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)
if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Transfer and Exchange of Beneficial Interests in a Restricted Global Security for Beneficial Interests in an
Unrestricted Global Security</U>. A beneficial interest in a Restricted Global Security may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Security or transferred to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of Section&nbsp;2.2(b)(ii) above and the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the holder of such beneficial interest in a Restricted Global Security proposes to exchange such beneficial interest
for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the holder of such beneficial interest in a Restricted Global Security proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph
(iv)&nbsp;at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall issue and, upon receipt of an written order of the Issuer in the form of an Officer&#146;s Certificate in accordance with Section&nbsp;2.01, the
Trustee shall, upon receipt of a Written Order, authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred or exchanged pursuant to this
subparagraph (iv). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Transfer and Exchange of Beneficial Interests in an Unrestricted Global Security for Beneficial
Interests in a Restricted Global Security</U>. Beneficial interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global
Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Transfer and Exchange of Beneficial Interests in Global Securities for Definitive Securities</U>. A beneficial interest
in a Global Security may not be exchanged for a Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). A beneficial interest in a Global Security may not be transferred to a Person who takes delivery thereof in the
form of a Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). In any case, beneficial interests in Global Securities shall be transferred or exchanged only for Definitive Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Transfer and Exchange of Definitive Securities for Beneficial Interests in Global Securities</U>. Transfers and exchanges of beneficial
interests in the Global Securities also shall require compliance with either subparagraph (i), (ii)&nbsp;or (ii)&nbsp;below, as applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Beneficial Interests in Restricted Global Securities</U>. If any Holder of a Transfer
Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security or to transfer such Transfer Restricted Security to a Person who takes delivery thereof in the form of a beneficial
interest in a Restricted Global Security, then, upon receipt by the Registrar of the following documentation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such Transfer Restricted Security is being transferred to a Qualified Institutional Buyer in accordance with Rule 144A
under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such
Transfer Restricted Security is being transferred to a Non U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such Transfer Restricted Security is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such Transfer Restricted Security is being transferred to an Institutional Accredited Investor in reliance on an
exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B)&nbsp;through (D)&nbsp;above, a certificate from such Holder in the form attached to the applicable Security, including the
certifications, certificates and Opinion of Counsel, if applicable; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such Transfer Restricted Security is being
transferred to the Issuer or a Subsidiary thereof, a certificate from such Holder in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">the
Trustee shall cancel the Transfer Restricted Security, and increase or cause to be increased the aggregate principal amount of the appropriate Restricted Global Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Beneficial Interests in Unrestricted Global Securities</U>. A Holder of a Transfer
Restricted Security that is a Definitive Security may exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security or transfer such Transfer Restricted Security to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security only if the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Transfer Restricted Securities proposes to transfer such Transfer Restricted Security to a Person
who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend
are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall cancel the Transfer Restricted Securities and increase or cause to be increased the
aggregate principal amount of the Unrestricted Global Security. If any such transfer or exchange is effected pursuant to this subparagraph (ii)&nbsp;at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall issue and,
upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of
Transfer Restricted Securities transferred or exchanged pursuant to this subparagraph (ii). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Beneficial Interests in
Unrestricted Global Securities</U>. A Holder of an Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Unrestricted Definitive Security to
a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive
Security and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Securities. If any such transfer or exchange is effected pursuant to this subparagraph (iii)&nbsp;at a time when an Unrestricted Global
Security has not yet been issued, the Issuer shall issue and, upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate
principal amount equal to the aggregate principal amount of Unrestricted Definitive Securities transferred or exchanged pursuant to this subparagraph (iii). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Unrestricted Definitive Securities to Beneficial Interests in Restricted Global Securities</U>. An Unrestricted
Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a Restricted Global Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Transfer and Exchange of Definitive Securities for Definitive Securities</U>. Upon request by a Holder of Definitive Securities and
such Holder&#146;s compliance with the provisions of this Section&nbsp;2.2(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the requesting Holder shall present or
surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition,
the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section&nbsp;2.2(e). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Transfer Restricted Securities</U>. A Transfer Restricted Security may be transferred
to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a
certificate in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transfer will be made pursuant to Rule 903 or
Rule 904 under the Securities Act, then the transferor must deliver a certificate in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if the transfer will be made pursuant to an exemption from the registration requirements of the Securities Act in
accordance with Rule 144 under the Securities Act, a certificate in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if the transfer will be made to an IAI in reliance on an exemption from the
registration requirements of the Securities Act other than those listed in subparagraphs (A)&nbsp;through (D)&nbsp;above, a certificate in the form attached to the applicable Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such transfer will be made to the Issuer or a Subsidiary thereof, a certificate in the form attached to the applicable
Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Unrestricted Definitive Securities</U>. Any Transfer Restricted
Security may be exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for an
Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)
if the Holder of such Transfer Restricted Security proposes to transfer such Securities to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the
applicable Security, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Unrestricted Definitive Securities</U>. A Holder of an
Unrestricted Definitive Security may transfer such Unrestricted Definitive Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security at any time. Upon receipt of a request to register such a transfer, the
Registrar shall register the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Unrestricted Definitive
Securities to Transfer Restricted Securities</U>. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global
Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with Section&nbsp;2.11 of this Indenture. At any time prior to such
cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the principal
amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall
be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Legend</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Except as permitted by the following paragraph (ii), (iii)&nbsp;or (iv), each Security certificate evidencing the Global
Securities and the Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the
legend only): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND
THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE WITH AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE
DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY
EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY
EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(a)&nbsp;TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), SUBJECT TO THE
RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT OF THE
SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional legends: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY
REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS SECURITY (OR ITS PREDECESSOR)
WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF,
ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES
ACT.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Upon any sale or transfer of a Transfer Restricted Security that is a Definitive Security, the Registrar
shall permit the Holder thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Security if the Holder
certifies in writing to the Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Security). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Upon a sale or transfer after the expiration of the Restricted Period of any Security acquired pursuant to Regulation S,
all requirements that such Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such Security be issued in global form shall continue to apply. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Add-On Securities sold in a registered offering shall not be required to bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Cancellation or Adjustment of Global Security</U>. At such time as all beneficial interests in a particular Global Security have been
exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with
Section&nbsp;2.11 of this Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global
Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Obligations with Respect to Transfers and Exchanges of Securities</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate,
Definitive Securities and Global Securities at the Registrar&#146;s request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) No service charge shall be made for any
registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or
similar governmental charge payable upon exchanges pursuant to Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Prior to the due presentation for registration of transfer of any Security, the Issuer, the Trustee, a Paying Agent or
the Registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuer, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt
and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>No
Obligation of the Trustee</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) None of the Trustee, Registrar or Paying Agent shall have any responsibility or
obligation to any beneficial owner of a Global Security, a member of, or a participant in the Depository or any other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with
respect to any ownership interest in the Securities or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the
payment of any amount, under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to the Holders under the Securities shall be given or made only to the registered Holders (which
shall be the Depository or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The
Trustee, Registrar or Paying Agent may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its members, participants and any beneficial owners. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) None of the Trustee, Registrar or Paying Agent shall have any obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depository participants, members or beneficial
owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same
to determine substantial compliance as to form with the express requirements hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF FACE OF ORIGINAL OR ADD-ON SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Global Securities Legend] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&#147;DTC&#148;), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE&nbsp;&amp; CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE&nbsp;&amp; CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE&nbsp;&amp; CO., HAS AN INTEREST HEREIN. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR&#146;S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Restricted Securities Legend] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE
WITH AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY
(1)(a)&nbsp;TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b)&nbsp;IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), SUBJECT
TO THE RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT
OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional
legends: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY
REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A
TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF ORIGINAL SECURITY] </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" NOWRAP>No.&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5.750% Senior
Note due 2024 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="84%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="13%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">CUSIP&nbsp;No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">ISIN No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Constellium N.V., a public company with limited liability (<I>naamloze vennootschap</I>) incorporated under
the laws of The Netherlands, promises to pay to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, or registered assigns, the principal sum [of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dollars] [listed on the Schedule of Increases or Decreases in Global Security attached hereto]<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> on May&nbsp;15 , 2024. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Interest Payment Dates: May&nbsp;15 and November&nbsp;15 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Record Dates: May&nbsp;1 and November&nbsp;1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Additional provisions of this Security are set forth on the other side of this Security. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Use the Schedule of Increases and Decreases language if Security is in Global Form. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">TRUSTEE&#146;S CERTIFICATE OF<BR>AUTHENTICATION</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEUTSCHE&nbsp;BANK&nbsp;TRUST&nbsp;COMPANY AMERICAS,<BR></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; font-size:10pt; font-family:Times New Roman">as Trustee, certifies that this is one of the Securities referred to in the Indenture.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Authorized Signatory</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*/</TD>
<TD ALIGN="left" VALIGN="top">If the Security is to be issued in global form, add the Global Securities Legend and the attachment from Exhibit A captioned &#147;TO BE ATTACHED TO GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY&#148;. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF REVERSE SIDE OF ORIGINAL SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5.750% Senior Note due 2024 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Interest</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">CONSTELLIUM N.V., a public company with limited liability (<I>naamloze
vennootschap</I>) incorporated under the laws of The Netherlands (together with its successors and assigns under the Indenture hereinafter referred to, the &#147;Issuer&#148;), promises to pay interest on the principal amount of this Security
semiannually in arrears on each May&nbsp;15 and November&nbsp;15 commencing on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;, 20&nbsp;&nbsp;&nbsp;&nbsp;. Interest on the Securities will accrue from
the Issue Date or the most recent date to which interest has been paid or provided for until the principal hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Interest on the Securities will accrue at a rate of 5.750%&nbsp;per annum, payable semiannually in arrears. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities are originally issued. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>Method of Payment</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on the Securities (except defaulted
interest) to the Persons who are registered Holders at the close of business on the May&nbsp;1 or November&nbsp;1 immediately preceding the interest payment date even if Securities are canceled after the record date and on or before the interest
payment date (whether or not a Business Day). Holders must surrender Securities to the Paying Agent to collect principal payments. The Issuer shall pay principal, premium, if any, and interest in money of the United States of America that at the
time of payment is legal tender for payment of public and private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately
available funds to the accounts specified by The Depository Trust Company or any successor depositary. The Issuer shall make all payments in respect of a certificated Security (including principal, premium, if any, and interest), at the office of
the Paying Agent, except that, at the option of the Issuer, payment of interest may be made by mailing a check to the registered address of each Holder thereof; <I>provided</I>,<I> however</I>, that payments on the Securities may also be made, in
the case of a Holder of at least $1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written
notice to the Trustee or Paying Agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><U>Paying Agent and Registrar</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Initially, Deutsche Bank Trust Company Americas (the
&#147;Trustee&#148;), will act as Paying Agent and Registrar. The Issuer may appoint and change any Paying Agent or Registrar without notice. The Issuer or any of its domestically incorporated Wholly Owned Subsidiaries may act as Paying Agent or
Registrar. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><U>Indenture</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer issued the Securities under an Indenture dated as of May&nbsp;7,
2014 (the &#147;Indenture&#148;), among the Issuer, the Guarantors party thereto (the &#147;Guarantors&#148;) and the Trustee. The terms of the Securities include those stated in the Indenture. Terms defined in the Indenture and not defined herein
have the meanings ascribed thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and the Holders (as defined in the Indenture) are referred to the Indenture for a statement of such terms and provisions.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities are senior unsecured obligations of the Issuer. This Security is one of the Original Securities referred to in the
Indenture. The Securities include the Original Securities and any issued Add-On Securities. The Original Securities and any Add-On Securities are treated as a single series of securities under the Indenture. The Indenture imposes certain limitations
on the ability of the Issuer and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the
payment of certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of Capital Stock of the Issuer and such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens
and make Asset Sales. The Indenture also imposes limitations on the ability of the Issuer and each Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">To guarantee the due and punctual payment of the principal and interest on the Securities and all other amounts payable by the Issuer under
the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities and the Indenture, the Guarantors have, jointly and severally,
unconditionally guaranteed the Guaranteed Obligations on a senior unsecured basis pursuant to the terms of the Indenture. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><U>Optional Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Except as set forth in the following two paragraphs, the
Securities shall not be redeemable at the option of the Issuer prior to May&nbsp;15, 2019. Thereafter, the Securities shall be redeemable at the option of the Issuer, in whole at any time or in part from time to time, upon not less than 30 nor more
than 60 days&#146; prior notice delivered electronically or by first-class mail to each Holder&#146;s registered address, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid interest, if any,
to the redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on May&nbsp;15 of the years set
forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.90pt; font-size:8pt; font-family:Times New Roman"><B>Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption&nbsp;Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.875</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2020</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101.917</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2021</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.958</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2022 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">In addition, prior to May&nbsp;15, 2019, the Issuer may redeem the Securities at its option, in
whole at any time or in part from time to time, upon not less than 30 nor more than 60 days&#146; prior notice electronically delivered or mailed by first-class mail to each Holder&#146;s registered address, at a redemption price equal to 100% of
the principal amount of the Securities redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest
due on the relevant interest payment date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, at any time and from time to time prior to May&nbsp;15, 2017,
the Issuer may redeem Securities in an aggregate amount equal to up to 35% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance of Add-On Securities), with an amount equal to the net cash
proceeds of one or more Equity Offerings by the Issuer, at a redemption price (expressed as a percentage of principal amount thereof) of 105.750%, plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on
the relevant record date to receive interest due on the relevant interest payment date); <I>provided</I>,<I> however</I>, that at least 50% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance
of Add-On Securities) must remain outstanding after each such redemption; and provided, further, that such redemption shall occur within 90 days after the date on which any such Equity Offering is consummated upon not less than 30 nor more than 60
days&#146; notice electronically delivered or mailed to each Holder of Securities being redeemed and otherwise in accordance with the procedures set forth in the Indenture. Any redemption or notice of any redemption may, at the Issuer&#146;s
discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering, other debt or equity financing, acquisition or other corporate transaction or event, and, at the Issuer&#146;s
discretion, the redemption date may be delayed until such time as any or all of such conditions have been satisfied. In addition, the Issuer may provide in any notice of redemption that payment of the redemption price and the performance of its
obligations with respect to such redemption may be performed by another person; <I>provided</I>, <I>however</I>, that the Issuer will remain obligated to pay the redemption price and perform its obligations with respect to such redemption in the
event such other person fails to do so and all conditions to such redemption, if any, are satisfied. Notice of any redemption in respect of an Equity Offering may be given prior to completion thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If an optional redemption date is on or after an interest record date and on or before the related interest payment date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"><U>Redemption for Taxation Reasons</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer may redeem the Securities, at its option,
in whole, but not in part, at any time upon giving not less than 30 nor more than 60 days prior notice to Holders (which notice shall be irrevocable) at a redemption price equal to 100% of the principal amount of the Securities, together with
accrued and unpaid interest, if any, to (but not including) the date fixed for redemption of such series (a &#147;Tax Redemption Date&#148;) (subject to the right of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date) and all Additional Amounts (as defined in Section&nbsp;11.09 of the Indenture), if any, then due or that will become due on the Tax Redemption Date as a result of the redemption or otherwise, if any, if the Issuer
determines in good faith that, as a result of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a) any change in, or amendment to, the law or treaties (or any regulations, protocols or
rulings promulgated thereunder) of a Relevant Taxing Jurisdiction (as defined in Section&nbsp;2.15 of the Indenture) affecting taxation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b) any change in official position regarding the application, administration or interpretation of such laws, treaties, regulations, protocols
or rulings (including a holding, judgment or order by a government agency or court of competent jurisdiction) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of the foregoing in clauses (1)&nbsp;and (2), a &#147;Change in Tax Law&#148;), any Payor (as defined in
Section&nbsp;2.15 of the Indenture), with respect to the Securities or a Guarantee is, or on the next date on which any amount would be payable in respect of the Securities would be, required to pay any Additional Amounts, and such obligation cannot
be avoided by taking reasonable measures available to such Payor (including the appointment of a new Paying Agent or, where such payment would be reasonable, the payment through another Payor); provided that no Payor shall be required to take any
measures that in the Issuer&#146;s good faith determination would result in the imposition on such person of any legal or regulatory burden (other than any such burden that is de minimis to the Issuer) or the incurrence by such person of additional
costs (other than any such costs that are de minimis to the Issuer) or would otherwise result in any adverse consequences to such person (other than any such adverse consequences that are de minimis). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">In the case of any Payor, the Change in Tax Law must be announced and become effective on or after the date of the Offering Memorandum (or if
the applicable Relevant Tax Jurisdiction becomes a Relevant Tax Jurisdiction on a date after the date of the Offering Memorandum, then such later date). Notwithstanding the foregoing, no such notice of redemption will be given earlier than 90 days
prior to the earliest date on which the Payor would be obligated to make such payment of Additional Amounts. Prior to the publication, mailing or delivery of any notice of redemption of the Securities pursuant to the foregoing, the Issuer will
deliver to the Trustee and applicable Paying Agent (a)&nbsp;an Officer&#146;s Certificate stating that it is entitled to effect such redemption and setting forth a statement of facts showing that the conditions precedent to its right so to redeem
have been satisfied and (b)&nbsp;an opinion of an independent tax counsel of recognized standing to the effect that the Payor would be obligated to pay Additional Amounts as a result of a Change in Tax Law. The Trustee will accept such
Officer&#146;s Certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent described above, in which event it will be conclusive and binding on the Holders of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The foregoing provisions will apply <I>mutatis mutandis</I> to any successor to a Payor. The foregoing provisions will survive any
termination, defeasance or discharge of the Indenture. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"><U>Sinking Fund</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities are not subject to any sinking fund. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice of Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Notice of redemption will be electronically delivered or mailed
by first-class mail at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at his, her or its registered address. Securities in denominations larger than $250,000 may be redeemed in part but
only in whole multiples of $1,000 in excess thereof. If money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with a Paying Agent on
or before the redemption date and certain other conditions are satisfied, on and after such date interest ceases to accrue on such Securities (or such portions thereof) called for redemption. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top">Repurchase of Securities at the Option of the </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Holders upon Change of Control and Asset
Sales</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Upon the occurrence of a Change of Control, each Holder shall have the right, subject to certain conditions specified in the
Indenture, to cause the Issuer to repurchase all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to
the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), as provided in, and subject to the terms of, the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">In accordance with Section&nbsp;4.06 of the Indenture, the Issuer will be required to offer to purchase Securities upon the occurrence of
certain events. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top"><U>Ranking </U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities and the Guarantees are senior unsecured obligations of the
Issuer and the Guarantors and will be of equal ranking with all present and future senior unsecured indebtedness. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"><U>Denominations; Transfer; Exchange</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities are in registered form, without
coupons, in denominations of $250,000 and any integral multiple of $1,000 in excess thereof. A Holder shall register the transfer of or exchange of Securities in accordance with the Indenture. Upon any registration of transfer or exchange, the
Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any
Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to a selection of Securities to be
redeemed. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"><U>Persons Deemed Owners</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The registered Holder of this Security shall be treated as the
owner of it for all purposes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"><U>Unclaimed Money</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If money for the payment of principal or interest remains unclaimed
for two years, the Trustee and a Paying Agent shall pay the money back to the Issuer at their written request unless an abandoned property law designates another Person. After any such payment, the Holders entitled to the money must look to the
Issuer for payment as general creditors and the Trustee and a Paying Agent shall have no further liability with respect to such monies. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top"><U>Discharge and Defeasance</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Subject to certain conditions, the Issuer at any time may
terminate some of or all of its obligations under the Securities and the Indenture if the Issuer deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Securities to redemption or maturity, as
the case may be. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top"><U>Amendment; Waiver</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Subject to certain exceptions set forth in the Indenture,
(i)&nbsp;the Indenture or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities and (ii)&nbsp;any past default or compliance with any provisions may
be waived with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Issuer and the Trustee may
amend the Indenture or the Securities (i)&nbsp;to cure any ambiguity, omission, mistake, defect or inconsistency; (ii)&nbsp;to provide for the assumption by a Successor Company of the obligations of the Issuer under the Indenture and the Securities;
(iii)&nbsp;to provide for the assumption by a Successor Guarantor of the obligations of a Guarantor under the Indenture and its Guarantee; (iv)&nbsp;to provide for uncertificated Securities in addition to or in place of certificated Securities
(provided that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code, or in a manner such that the uncertificated Securities are described in Section&nbsp;163(f)(2)(B) of the Code); (v)&nbsp;to
add additional Guarantees with respect to the Securities; (vi)&nbsp;to make any change that would provide additional rights or benefits to the Holders or that does not adversely affect the legal rights of the Holders; (vii)&nbsp;to make changes
relating to the transfer and legending of the Securities; (viii)&nbsp;to secure the Securities; (ix)&nbsp;to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred upon the Issuer or any
Guarantor; (x)&nbsp;to make any change that does not adversely affect the rights of any Holder in any material respect; (xi)&nbsp;to effect any provision of the Indenture; (xii)&nbsp;to provide for the issuance of the Add-On Securities, as defined
in the Indenture; (xiii)&nbsp;to evidence and provide for the acceptance and appointment under the Indenture of a successor Trustee thereunder pursuant to the requirements thereof; or (xiv)&nbsp;to conform the text of the Indenture, Guarantees or
Securities to any provision of the section entitled &#147;Description of the Notes&#148; in the Offering Memorandum. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top"><U>Defaults and Remedies</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs (other than an Event of Default
relating to certain events of bankruptcy, insolvency or reorganization of the Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities, in each case, by notice to the Issuer, may declare
the principal of, premium, if any, and accrued but unpaid </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
interest on all the Securities to be due and payable <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be effective until the
earlier of (1)&nbsp;five Business Days after the giving of written notice to the Issuer and the Representative under the Credit Facilities and (2)&nbsp;the day on which any Bank Indebtedness is accelerated. Upon such a declaration, such principal
and interest will be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer occurs, the principal of, premium, if any, and interest on all the Securities shall become
immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may rescind any such acceleration
with respect to the Securities and its consequences. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs and is continuing, the Trustee shall be under no
obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security satisfactory to the Trustee against any loss,
liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities
unless (i)&nbsp;such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii)&nbsp;the Holders of at least 25% in principal amount of the outstanding Securities have requested the Trustee in writing to pursue the
remedy, (iii)&nbsp;such Holders have offered the Trustee reasonable security or indemnity satisfactory to the Trustee against any loss, liability or expense, (iv)&nbsp;the Trustee has not complied with such request within 60 days after the receipt
of the request and the offer of security or indemnity and (v)&nbsp;the Holders of a majority in principal amount of the outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject
to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any
trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve
the Trustee in personal or financial liability. Prior to taking any action under the Indenture at the instruction of Holders in respect of an Event of Default, the Trustee shall be entitled to indemnification or security satisfactory to it in its
sole discretion against all losses and expenses caused by taking or not taking such action. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">17.</TD>
<TD ALIGN="left" VALIGN="top"><U>Trustee Dealings with the Issuer</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Trustee under the Indenture, in its individual or
any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would
have if it were not Trustee. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">18.</TD>
<TD ALIGN="left" VALIGN="top"><U>No Recourse Against Others</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">No director, officer, employee, manager, incorporator or
holder of any Equity Interests (as defined in the Indenture) in the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuer under the Securities, the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">19.</TD>
<TD ALIGN="left" VALIGN="top"><U>Authentication</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">This Security shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">20.</TD>
<TD ALIGN="left" VALIGN="top"><U>Abbreviations</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Customary abbreviations may be used in the name of a Holder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">21.</TD>
<TD ALIGN="left" VALIGN="top"><U>Governing Law</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">22.</TD>
<TD ALIGN="left" VALIGN="top"><U>CUSIP Numbers; ISINs</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer has caused CUSIP numbers and ISINs to be printed on
the Securities and has directed the Trustee to use CUSIP numbers and ISINs in notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in
any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>The Issuer will furnish
to any Holder of Securities upon written request and without charge to the Holder a copy of the Indenture which has in it the text of this Security.</B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ASSIGNMENT FORM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To assign this Security, fill in the form below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I or we
assign and transfer this Security to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:4.00em; font-size:10pt; font-family:Times New Roman">(Print or type assignee&#146;s name, address and zip code)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:4.00em; font-size:10pt; font-family:Times New Roman">(Insert assignee&#146;s soc. sec. or tax I.D. No.)</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and irrevocably appoint
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for him. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="9"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sign exactly as your name appears on the other
side of this Security. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REGISTRATION OF TRANSFER RESTRICTED SECURITIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This certificate relates to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; principal amount of Securities held in (check applicable space)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; book-entry or &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; definitive form by the undersigned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
undersigned (check one box below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depository a Security or Securities in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">has requested the Trustee by written order to exchange or register the transfer of a Security or Securities. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of the period referred to in Rule
144(k) under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK ONE BOX BELOW
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the Issuer; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the Registrar for registration in the name of the Holder, without
transfer; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to an effective registration statement under
the Securities Act of 1933; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> inside the United States to a
&#147;qualified institutional buyer&#148; (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in
reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Security shall be held
immediately after the transfer through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to an institutional &#147;accredited investor&#148; (as defined in Rule
501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and agreements; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to another available exemption from registration provided by
Rule 144 under the Securities Act of 1933. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities evidenced by this
certificate in the name of any Person other than the registered Holder thereof; <I>provided</I>,<I> however</I>, that if box (5), (6)&nbsp;or (7)&nbsp;is checked, the Issuer or the Trustee may require, prior to registering any such transfer of the
Securities, such legal opinions, certifications and other information as the Issuer or the Trustee have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TO BE COMPLETED BY PURCHASER IF (4)&nbsp;ABOVE IS CHECKED. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a &#147;qualified institutional buyer&#148; within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule
144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned&#146;s foregoing representations in order to claim the exemption from registration provided by Rule 144A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Dated:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">NOTICE: To be executed by an executive officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[TO BE ATTACHED TO GLOBAL SECURITIES] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The initial principal amount of this Global Security is $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The following increases or
decreases in this Global Security have been made: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><B></B>Date of Exchange<B></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B></B>Amount&nbsp;of&nbsp;decrease&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global Security<B></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B></B>Amount&nbsp;of&nbsp;increase&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global Security<B></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B></B>Principal&nbsp;amount&nbsp;of&nbsp;this<BR>Global&nbsp;Security&nbsp;following<BR>such decrease or increase<B></B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B></B>Signature&nbsp;of&nbsp;authorized<BR>signatory&nbsp;of&nbsp;Trustee&nbsp;or<BR>Securities Custodian<B></B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OPTION OF HOLDER TO ELECT PURCHASE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have this Security purchased by the Issuer pursuant to Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control)
of the Indenture, check the box:</B> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="46%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Asset&nbsp;Sale</B>&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center"><B>Change&nbsp;of&nbsp;Control</B>&nbsp;&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have only part of this Security purchased by the Issuer pursuant to
Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control) of the Indenture, state the amount ($250,000 or any integral multiple of $1,000 in excess thereof):</B> </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>$</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Date:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Your&nbsp;Signature:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>(Sign exactly as your name appears on the other side of this Security)</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="41%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Signature&nbsp;Guarantee:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:4.00em; font-size:10pt; font-family:Times New Roman"><B>Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program
reasonably acceptable to the Trustee</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF SUPPLEMENTAL INDENTURE] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">SUPPLEMENTAL INDENTURE (this &#147;Supplemental Indenture&#148;) dated as of
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], among [GUARANTOR] (the &#147;New Guarantor&#148;), a subsidiary of CONSTELLIUM N.V., (or its successor), a public company
with limited liability (<I>naamloze vennootschap</I>) incorporated under the laws of The Netherlands (the &#147;Issuer&#148;) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee under the indenture referred to below (the &#147;Trustee&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H : </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS
the Issuer and the existing Guarantors have heretofore executed and delivered to the Trustee an indenture (as amended, supplemented or otherwise modified, the &#147;Indenture&#148;) dated as of May&nbsp;7, 2014, providing initially for the issuance
of $400,000,000 in aggregate principal amount of the Issuer&#146;s 5.750% Senior Notes due 2024 (the &#147;Securities&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS
Section&nbsp;4.11 of the Indenture provides that under certain circumstances the Issuer are required to cause the New Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally
guarantee all the Issuer&#146;s Obligations under the Securities and the Indenture pursuant to a Guarantee on the terms and conditions set forth herein; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS pursuant to Section&nbsp;9.01 of the Indenture, the Trustee, the Issuer and the existing Guarantors are authorized to execute and
deliver this Supplemental Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the New Guarantor, the Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">1. <U>Defined Terms</U>. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are used
herein as therein defined, except that the term &#147;Holders&#148; in this Guarantee shall refer to the term &#147;Holders&#148; as defined in the Indenture and the Trustee acting on behalf of and for the benefit of such Holders. The words
&#147;herein,&#148; &#147;hereof&#148; and &#147;hereby&#148; and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">2. <U>Agreement to Guarantee</U>. The New Guarantor hereby agrees, jointly and severally with all existing Guarantors (if any), to
unconditionally guarantee the Issuer&#146;s Obligations under the Securities and the Indenture on the terms and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture
and the Securities and to perform all of the obligations and agreements of a Guarantor under the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">3. <U>Notices</U>. All
notices or other communications to the New Guarantor shall be given as provided in Section&nbsp;11.03 of the Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">4. <U>Ratification of Indenture; Supplemental Indentures Part of Indenture</U>. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all
purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">5. <U>Governing
Law</U>. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">6. <U>Trustee Makes No Representation</U>. The Trustee makes no representation as to the validity or sufficiency of this Supplemental
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">7. <U>Counterparts</U>. The parties may sign any number of copies of this Supplemental Indenture by manual, facsimile, pdf or
other electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">8. <U>Effect of Headings</U>. The Section headings herein are for convenience only and shall not affect the construction thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NEW GUARANTOR]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK TRUST COMPANY AMERICAS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 3 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.8
<SEQUENCE>3
<FILENAME>d908770dex48.htm
<DESCRIPTION>EX-4.8
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.8</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.8 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSTELLIUM N.V. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">certain Guarantors from time to time parties hereto </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&#128;300,000,000 4.625% Senior Notes due 2021 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDENTURE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of May&nbsp;7, 2014 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK
TRUST COMPANY AMERICAS, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Trustee </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK AG, LONDON BRANCH </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Principal Paying Agent </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK LUXEMBOURG S.A. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as
Registrar and Transfer Agent </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 1 DEFINITIONS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules of Construction</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acts of Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 2 THE SECURITIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form and Dating</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution and Authentication</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registrar; Transfer Agent and Paying Agent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Paying Agent to Hold Money in Trust</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holder Lists</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer and Exchange</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cancellation</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulted Interest</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ISINs, etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Calculation of Principal Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Amounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 3 REDEMPTION</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Applicability of Article</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices to Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selection of Securities to Be Redeemed</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Optional Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Notice of Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit of Redemption Price</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Securities Redeemed in Part</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 4 COVENANTS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reports and Other Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Restricted Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend and Other Payment Restrictions Affecting Subsidiaries</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Asset Sales</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions with Affiliates</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change of Control</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compliance Certificate</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Listing and General Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liens</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance of Office or Agency</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination and Suspension of Certain Covenants</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 5 SUCCESSOR COMPANY</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Issuer May Merge or Transfer Assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 6 DEFAULTS AND REMEDIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acceleration</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Past Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Control by Majority</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Suits</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of the Holders to Receive Payment</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collection Suit by Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee May File Proofs of Claim</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Priorities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Undertaking for Costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Stay or Extension Laws</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 7 TRUSTEE</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Duties of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Individual Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee&#146;s Disclaimer</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Affiliate Subordination Agreement</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compensation and Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Trustee by Merger</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 8 DISCHARGE OF INDENTURE; DEFEASANCE</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Discharge of Liability on Securities; Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions to Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Application of Trust Money</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment to Issuer</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnity for European Government Obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reinstatement</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 9 AMENDMENTS AND WAIVERS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Without Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">With Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revocation and Effect of Consents and Waivers</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notation on or Exchange of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee to Sign Amendments</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment for Consent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Voting Terms; Calculation of Principal Amount</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 10 GUARANTEES</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Liability</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Automatic Termination of Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Waiver</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Modification</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution of Supplemental Indenture for Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-Impairment</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 11 MISCELLANEOUS</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ranking</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certificate and Opinion as to Conditions Precedent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Statements Required in Certificate or Opinion</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Securities Disregarded</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules by Trustee, Paying Agent and Registrar</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legal Holidays</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GOVERNING LAW</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consent to Jurisdiction and Service</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Recourse Against Others</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">USA PATRIOT Act Section 326 Customer Identification Program</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="79%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Multiple Originals</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Table of Contents; Headings</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indenture Controls</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="84%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appendix&nbsp;A</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions Relating to Original Securities and Add-On Securities</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EXHIBIT&nbsp;INDEX</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;A</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Original Security</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;B</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" ALIGN="right">&#150;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Supplemental Indenture</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">INDENTURE dated as of May 7, 2014 among CONSTELLIUM N.V., a public company with limited liability
<I>(naamloze vennootschap)</I> incorporated under the laws of The Netherlands (the &#147;Issuer&#148;), the GUARANTORS (as defined herein) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee (the &#147;Trustee&#148;), DEUTCHE BANK AG, LONDON
BRANCH, as Principal Paying Agent and DEUTSCHE BANK LUXEMBOURG S.A., as Registrar and Transfer Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each party agrees as follows for
the benefit of the other parties and for the equal and ratable benefit of the Holders of (a)&nbsp;&#128;300,000,000 aggregate principal amount of the Issuer&#146;s 4.625% Senior Notes due 2021 issued on the date hereof (the &#147;Original
Securities&#148;) and (b)&nbsp;any additional Securities that may be issued after the date hereof in the form of Exhibit A (the &#147;Add-On Securities&#148; (all such securities in clauses (a)&nbsp;and (b)&nbsp;being referred to collectively as the
&#147;Securities&#148;). Subject to the conditions and compliance with the covenants set forth herein, the Issuer may issue an unlimited aggregate principal amount of Add-On Securities without the consent of Holders. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.01 <U>Definitions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Facility&#148; means the ABL Credit Agreement, dated as of May&nbsp;25, 2012, among Constellium Holdco II B.V., Constellium U.S.
Holdings I, LLC, Constellium Rolled Products Ravenswood, LLC, as borrower, the lenders from time to time party thereto Deutsche Bank Trust Company Americas, as administrative agent and collateral agent, as amended by the First Amendment dated as of
January&nbsp;7, 2013, the Second Amendment dated as of March&nbsp;20, 2013, and the Third Amendment dated as of October&nbsp;1, 2013, and as may be further amended, restated, supplemented, waived, replaced (whether or not upon termination, and
whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any
portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements or increasing the amount loaned or issued thereunder or altering the maturity thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Obligors&#148; means the borrower and the guarantors under the ABL Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Acquired Indebtedness&#148; means, with respect to any specified Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Indebtedness, Preferred Stock or Disqualified Stock of any other Person existing at the time such other Person is merged,
consolidated or amalgamated with or into or became a Restricted Subsidiary of such specified Person, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Indebtedness,
Preferred Stock or Disqualified Stock secured by a Lien encumbering any asset acquired by such specified Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Affiliate&#148; of
any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, &#147;control&#148; (including, with correlative
meanings, the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
terms &#147;controlling,&#148; &#147;controlled by&#148; and &#147;under common control with&#148;), as used with respect to any Person, means the possession, directly or indirectly, of the power
to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Applicable Premium&#148; means, with respect to any Security on any applicable redemption date, the greater of the following, as
calculated by the Issuer: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 1% of the then outstanding principal amount of the Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the excess of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the present value at such redemption date of (i)&nbsp;the redemption price of the Security, at May&nbsp;15, 2019 (such
redemption price being set forth in Paragraph 5 of the Security plus (ii)&nbsp;all required interest payments due on the Security through May&nbsp;15, 2019 (excluding accrued but unpaid interest), computed using a discount rate equal to the Bund
Rate as of such redemption date plus 50 basis points; over </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the then outstanding principal amount of such Security.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Asset Sale&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions)
of property or assets (including by way of a Sale/Leaseback Transaction) outside the ordinary course of business of the Issuer or any Restricted Subsidiary of the Issuer (each referred to in this definition as a &#147;disposition&#148;) or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issuance or sale of Equity Interests (other than directors&#146; qualifying shares and shares issued to foreign
nationals or other third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Issuer or another Restricted Subsidiary of the Issuer) (whether in a single transaction or a series of related transactions),
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a disposition of Cash Equivalents or Investment Grade Securities or damaged, obsolete or worn out property or equipment in
the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) transactions permitted pursuant to Section&nbsp;5.01 or any disposition that
constitutes a Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any Restricted Payment or Permitted Investment that is permitted to be made, and is
made, under Section&nbsp;4.04; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any disposition of assets or issuance or sale of Equity Interests of any Restricted
Subsidiary, which assets or Equity Interests so disposed or issued have an aggregate Fair Market Value of less than &#128;10.0 million; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) any disposition of property or assets, or the issuance of securities, by a
Restricted Subsidiary of the Issuer to the Issuer or by the Issuer or a Restricted Subsidiary of the Issuer to a Restricted Subsidiary of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) any exchange of assets (including a combination of assets and Cash Equivalents) for assets related to a Similar Business of
comparable or greater market value or usefulness to the business of the Issuer and its Restricted Subsidiaries as a whole, as determined in good faith by the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) foreclosure or any similar action with respect to any property or any other assets of the Issuer or any of its Restricted
Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the lease, assignment or sublease of any real or personal property in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) any sale of inventory or other assets in the ordinary course of business, or which are no longer useful or necessary in the
operation of the business of the Issuer and its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any grant in the ordinary course of business
of any license of patents, trademarks, know-how or any other intellectual property; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) an issuance of Capital Stock
pursuant to an equity incentive or compensation plan approved by the Board of Directors of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) dispositions in
connection with Permitted Liens; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any financing transaction with respect to property built or acquired by the Issuer or
any Restricted Subsidiary after the Issue Date, including any Sale/Leaseback Transaction or asset securitization permitted by this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Issuer or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made
as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or other
claims of any kind; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) a transfer of accounts receivable and related assets of the type specified in the definition of
&#147;Receivables Financing&#148; (or a fractional undivided interest therein) by a Receivables Subsidiary or any Restricted Subsidiary (w)&nbsp;under the Factoring Facilities, (x)&nbsp;in a Qualified Receivables Financing, (y)&nbsp;under any other
factoring on arm&#146;s-length terms or (z)&nbsp;in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) the sale of any property in a Sale/Leaseback Transaction within six months of
the acquisition of such property; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Credit Facilities&#148; means the credit facilities described in clauses (i)&nbsp;and (ii)&nbsp;of the definition of Credit
Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Indebtedness&#148; means any and all amounts payable under or in respect of any Credit Facilities provided by bank
or other institutional lenders (excluding Credit Facilities providing for publicly offered or privately placed capital markets indebtedness), as amended, restated, supplemented, waived, replaced, restructured, repaid, refunded, refinanced or
otherwise modified from time to time (including after termination of the Bank Credit Facilities), including principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization
relating to the Issuer whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, guarantees and all other amounts payable thereunder or in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Board of Directors&#148; means, as to any Person, the board of directors or managers, as applicable, of such Person (or, if such Person
is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Borrowing Base&#148; means, as of any date, an amount equal to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 85% of the face amount of accounts receivable owned by the ABL Obligors as of the end of the most recent fiscal quarter
preceding such date; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the lesser of (i)&nbsp;80% of the lower of cost or market and (ii)&nbsp;85% of net orderly
liquidation value, in each case, of inventory owned by the ABL Obligors as of the end of the most recent fiscal quarter preceding such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bund Rate&#148; means, as of any redemption date of the Securities, the yield to maturity as of the earlier of (a)&nbsp;such redemption
date or (b)&nbsp;the date on which such Securities are defeased or satisfied and discharged, of the most recently issued direct obligations of the Federal Republic of Germany (Bunds or Bundesanleihen) with a constant maturity (as officially compiled
and published in the most recent financial statistics that have become publicly available at least two Business Days prior to such earlier date (or, if such financial statistics are not so published or available, any publicly available source of
similar market data selected by the Issuer in good faith)) most nearly equal to the period from the redemption date to May&nbsp;15, 2017; <I>provided</I>, <I>however</I>, that if the period from the redemption date to May&nbsp;15, 2017, is less than
one year, the weekly average yield on actually traded direct obligations of the Federal Republic of Germany adjusted to a constant maturity of one year will be used. Any such Bund Rate shall be obtained by the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Business Day&#148; means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or required by
law to close in New York City, London or Amsterdam. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capital Stock&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) in the case of a corporation, corporate stock or shares; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capitalized Lease Obligation&#148; means, at the time any determination thereof is to be made, the amount of the liability in respect of
a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cash Equivalents&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) All cash, including without limitation U.S. dollars, pounds sterling, euros, Swiss franc, the national currency of any
member state in the European Union or such other currencies held by the Issuer or any Restricted Subsidiary from time to time in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Securities and other readily marketable obligations issued or directly and fully guaranteed or insured by the U.S.
government or any country that is a member of the European Union or Switzerland, or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) certificates of deposit, time deposits and Eurodollar time deposits with maturities of one year or less from the date of
acquisition, bankers&#146; acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250.0 million; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) repurchase obligations for underlying securities of the types described in clauses (2)&nbsp;and (3)&nbsp;above entered into
with any financial institution meeting the qualifications specified in clause (3)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) commercial paper issued
by a corporation (other than an Affiliate of the Issuer) rated at least &#147;A-2&#148; or the equivalent thereof by Moody&#146;s or S&amp;P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case
maturing within one year after the date of acquisition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) readily marketable direct obligations issued by any state of
the United States of America or any political subdivision thereof having an Investment Grade Rating in each case with maturities not exceeding two years from the date of acquisition; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Indebtedness issued by Persons with a rating of &#147;A&#148; or higher from
S&amp;P or &#147;A-2&#148; or higher from Moody&#146;s in each case with maturities not exceeding two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) investment funds investing at least 95% of their assets in securities of the types described in clauses (1) through (7)
above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) investments with average maturities of 12 months or less from the date of acquisition in mutual funds rated AA-
(or the equivalent thereof) or better by S&amp;P or Aaa3 (or the equivalent thereof) or better by Moody&#146;s; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10)
marketable short-term money market and similar highly liquid funds either (i) having assets in excess of $250,000,000 or (ii) having a rating of at least A-2 or P-2 from either S&amp;P or Moody&#146;s (or, if at any time neither S&amp;P nor
Moody&#146;s shall be rating such obligations, an equivalent rating from another nationally recognized rating service). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Change of
Control&#148; means the occurrence of any of the following events: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, lease or transfer, in one or a series of
related transactions, of all or substantially all the assets of the Issuer and its Subsidiaries, taken as a whole, to a Person; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the Issuer becomes aware (by way of a report or any other filing pursuant to Section&nbsp;13(d) of the Exchange Act, proxy,
vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section&nbsp;13(d)(3) or Section&nbsp;14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of
acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase
of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the total voting power of the Voting Stock of the Issuer; <I>provided</I>, <I>however</I>, that any entity (including
Constellium N.V. upon a sale of all or substantially all of its assets to a Subsidiary in a transaction permitted under this Indenture, if at such time Constellium N.V. meets the requirements of this proviso) that conducts no material activities
other than holding Equity Interests of the Issuer or any direct or indirect parent of the Issuer and has no other material assets or liabilities other than such Equity Interests will not be considered a &#147;Person or group&#148; for purposes of
this clause (2). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Code&#148; means the United States Internal Revenue Code of 1986, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Common Depositary&#148; means a depositary common to Euroclear and Clearstream, being initially Deutsche Bank AG, London branch, until a
successor Common Depositary, if any, shall have become such pursuant to this Indenture, and thereafter Common Depositary shall mean or include each Person who is then a Common Depositary hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Interest Expense&#148; means, with respect to any Person for any period, the
sum, without duplication, of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) consolidated interest expense of such Person and its Restricted Subsidiaries for such
period, to the extent such expense was deducted in computing Consolidated Net Income (including amortization of original issue discount, noncash interest payments, the interest component of Capitalized Lease Obligations, and net payments and
receipts (if any) pursuant to interest rate Hedging Obligations (but excluding unrealized mark-to-market gains and losses attributable to such Hedging Obligations, amortization of deferred financing fees and expensing of any bridge or other
financing fees), and excluding interest expense attributable to the Factoring Facilities or any Qualified Receivables Financing or other factoring arrangements (to the extent accounted for as interest expense under IFRS), amortization of deferred
financing fees, debt issuance costs, commissions, fees and expenses and expensing of any bridge commitment or other financing fees); plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued;
plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Preferred Stock dividends paid in cash in respect of Disqualified Stock of the Issuer held by persons other than
the Issuer or a Restricted Subsidiary; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Commissions based on draws, discounts and yield (but excluding other fees
and charges, including commitment fees) Incurred in connection with any Receivables Financing which are payable to Persons other than the Issuer and its Restricted Subsidiaries; minus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) interest income for such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of all
Consolidated Total Indebtedness, less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA of such Person for the four full
fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and paragraphs 2, 3, and 4 thereof shall
apply to the calculation of Consolidated Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be
held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Net Income&#148;
means, with respect to any Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis; <I>provided</I>, <I>however</I>, that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any net after-tax extraordinary, nonrecurring or unusual gains or losses or income, expenses or charges (less all fees and
expenses relating thereto), including, without limitation, any (i)&nbsp;severance, relocation or other restructuring expenses, any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternate uses and fees, expenses or charges relating to new product lines, plant
shutdown costs, curtailments or modifications to pension and post-retirement employee benefits plans, excess pension charges, acquisition integration costs, facilities opening costs, project start-up costs, business optimization costs, signing,
retention or completion bonuses and (ii)&nbsp;any fees, expenses or charges related to any Equity Offering, Permitted Investment, acquisition, disposition, receivables financing, recapitalization or issuance, repayment, incurrence, refinancing,
amendment or modification of Indebtedness permitted to be Incurred by this Indenture (in each case, whether or not successful), in each case, shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any increase in amortization or depreciation or any non-cash charges, in each case resulting from purchase accounting in
connection with any acquisition that is consummated after the Issue Date shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the Net Income for such
period shall not include the cumulative effect of a change in accounting principles during such period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any net
after-tax income or loss from disposed, abandoned, transferred, closed or discontinued operations and any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business
dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Issuer) shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of Indebtedness or Hedging Obligations or other derivative instruments shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) the Net
Income for such period of any Person that is not a Subsidiary of such Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or
distributions or other payments paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) solely for the purpose of determining the amount available for Restricted Payments under clause (1)&nbsp;of the definition
of Cumulative Credit, the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its
Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree,
order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restrictions with respect to the payment of dividends or similar distributions have been legally waived; provided that the
Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent not already
included therein; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any non-cash impairment charges or asset write-offs resulting from the
application of IFRS and the amortization of intangibles arising pursuant to IFRS shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any non-cash
expense realized or resulting from stock option plans, employee benefit plans or post-employment benefit plans, grants and sales of stock, stock appreciation or similar rights, stock options or other rights of such Person or any of its Restricted
Subsidiaries shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) any (a)&nbsp;severance or relocation costs or expenses, (b)&nbsp;one-time non-cash
compensation charges, (c)&nbsp;the costs and expenses after the Issue Date related to employment of terminated employees, (d)&nbsp;costs or expenses realized in connection with, resulting from or in anticipation of the Transactions or (e)&nbsp;costs
or expenses realized in connection with or resulting from stock appreciation or similar rights, stock options or other rights existing on the Issue Date of officers, directors and employees, in each case of such Person or any of its Restricted
Subsidiaries, shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) accruals and reserves that are established or adjusted in accordance with IFRS or
changes as a result of the adoption or modification of accounting policies shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) (a)(i) the non-cash
portion of &#147;straight-line&#148; rent expense shall be excluded and (ii)&nbsp;the cash portion of &#147;straight-line&#148; rent expense which exceeds the amount expensed in respect of such rent expense shall be included and (b)&nbsp;non-cash
gains, losses, income and expenses resulting from fair value accounting shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) unrealized gains and
losses relating to hedging transactions and mark-to-market of Indebtedness denominated in foreign currencies shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) solely for the purpose of calculating Restricted Payments, the difference, if positive, of the Consolidated Taxes of the
Issuer calculated in accordance with IFRS and the actual Consolidated Taxes paid in cash by the Issuer during any Reference Period shall be included; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) non-cash charges for deferred tax asset valuation allowances shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) an adjustment (which may be a negative number) shall be made to the extent that Net Income was calculated on an average
cost basis with respect to inventory, in order to reflect the additional Net Income (or the reduction to Net Income) which would have been recognized using an approximation of last in first out inventory accounting; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) any loss on sale of receivables and related assets in a Factoring Facility or other Qualified Receivables Financing shall
be excluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for the purpose of Section&nbsp;4.04 only, there shall be excluded from Consolidated Net
Income any dividends, repayments of loans or advances or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
other transfers of assets from Unrestricted Subsidiaries of the Issuer or a Restricted Subsidiary of the Issuer to the extent such dividends, repayments or transfers increase the amount of
Restricted Payments permitted under clauses (5)&nbsp;and (6)&nbsp;of the definition of &#147;Cumulative Credit.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated
Non-cash Charges&#148; means, with respect to any Person for any period, the aggregate depreciation, amortization, accretion and other non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person
for such period on a consolidated basis and otherwise determined in accordance with IFRS, but excluding any such charge which consists of or requires an accrual of, or cash reserve for, anticipated cash charges for any future period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Secured Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of
all Consolidated Total Indebtedness secured by a Lien (other than any Indebtedness under the Factoring Facilities or any Qualified Receivables Financing), less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance
sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of
the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and paragraphs 2, 3, and 4 thereof shall apply to the calculation of the Consolidated Secured Net Debt Ratio, and such calculation shall give pro forma effect to the
application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Taxes&#148; means provision for taxes based on income, profits or capital, including, without limitation, state, franchise
and similar taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Total Indebtedness&#148; means, as of any date of determination, the aggregate principal amount of
consolidated funded Indebtedness for borrowed money (which, for the avoidance of doubt, shall not include any Indebtedness under the Factoring Facilities or any Qualified Receivables Financing) of the Issuer and its Restricted Subsidiaries
outstanding on such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Contingent Obligations&#148; means, with respect to any Person, any obligation of such Person
guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (&#147;primary obligations&#148;) of any other Person (the &#147;primary obligor&#148;) in any manner, whether directly or indirectly, including, without
limitation, any obligation of such Person, whether or not contingent: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to advance or supply funds: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) for the purchase or payment of any such primary obligation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to purchase property, securities or services primarily for the purpose of assuring the owner
of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Credit Facilities&#148; means (i)&nbsp;the Revolving Credit Facility, dated on or about the
Issue Date, among the Issuer, the guarantors named therein, the financial institutions named therein, and Deutsche Bank AG New York Branch as Administrative Agent, as amended, restated, supplemented, waived, replaced (whether or not upon
termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement or indenture extending the maturity thereof, refinancing, replacing or
otherwise restructuring all or any portion of the Indebtedness under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or indenture or indentures or increasing the amount loaned or issued
thereunder or altering the maturity thereof (the &#147;Revolving Credit Facility&#148;); (ii)&nbsp;Indebtedness Incurred and outstanding pursuant to clause (i)&nbsp;of Section&nbsp;4.03(b) (it being understood that Indebtedness that is Incurred
pursuant to such clause and subsequently reclassified as being Incurred pursuant to a different clause in accordance with this Indenture will not be deemed outstanding pursuant to such clause (a)); and (iii)&nbsp;whether or not the Credit Facilities
referred to in clauses (i)&nbsp;or (ii)&nbsp;remain outstanding, if designated by the Issuer to be included in the definition of &#147;Credit Facilities,&#148; one or more (A)&nbsp;debt facilities or commercial paper facilities, providing for
revolving credit loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables) or letters of credit, (B)&nbsp;debt securities,
indentures or other forms of debt financing (including convertible or exchangeable debt instruments or bank guarantees or bankers&#146; acceptances), or (C)&nbsp;instruments or agreements evidencing any other Indebtedness, in each case, with the
same or different borrowers or issuers and, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cumulative Credit&#148; means the sum of (without duplication): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 50% of the Consolidated Net Income of the Issuer for the period (taken as one accounting period, the &#147;Reference
Period&#148;) from April&nbsp;1, 2014 to the end of the Issuer&#146;s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, in the case such Consolidated Net Income for
such period is a deficit, minus 100% of such deficit), plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) 100% of the aggregate net proceeds, including cash and the
Fair Market Value (as determined in good faith by the Issuer) of property other than cash, received by the Issuer after the Issue Date (other than net proceeds to the extent such net proceeds have been used to Incur Indebtedness, Disqualified Stock
or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx) from the issue or sale of Equity Interests of the Issuer (excluding Refunding Capital Stock, Designated Preferred Stock, Excluded Contributions or Disqualified Stock, including Equity Interests
issued upon conversion of Indebtedness or Disqualified Stock or upon exercise of warrants or options (other than an issuance or sale to a Restricted Subsidiary of the Issuer or an employee stock ownership plan or trust established by the Issuer or
any of its Subsidiaries), plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) 100% of the aggregate amount of contributions to the capital of the Issuer
received in cash and the Fair Market Value (as determined in good faith by the Issuer) of property other than cash after the Issue Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, contributions to the
extent such contributions have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx), plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) 100% of the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the
case may be, of any Disqualified Stock of the Issuer or any Restricted Subsidiary thereof issued after the Issue Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) which has been converted into or exchanged for
Equity Interests in the Issuer (other than Disqualified Stock) or any direct or indirect parent of the Issuer (provided that, in the case of any parent, such Indebtedness or Disqualified Stock is retired or extinguished), plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) 100% of the aggregate amount received by the Issuer or any Restricted Subsidiary in cash and the Fair Market Value (as
determined in good faith by the Issuer) of property other than cash received by the Issuer or any Restricted Subsidiary from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the sale or other disposition (other than to the Issuer or a Restricted Subsidiary of the Issuer) of Restricted Investments
made by the Issuer and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments from the Issuer and its Restricted Subsidiaries by any Person (other than the Issuer or any of its Restricted Subsidiaries) and
from repayments of loans or advances (including the release of any guarantee that constituted a Restricted Investment when made) that constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the sale (other than to the Issuer or a Restricted
Subsidiary of the Issuer) of the Capital Stock of an Unrestricted Subsidiary, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a distribution or dividend from an
Unrestricted Subsidiary, plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the event any Unrestricted Subsidiary of the Issuer has been redesignated as a
Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary, the Fair Market Value (as determined in good faith by the
Issuer) of the Investment of the Issuer in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after taking into account any Indebtedness associated with
the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b) or constituted a Permitted Investment). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Default&#148; means any
event which is, or after notice or passage of time or both would be, an Event of Default. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Non-cash Consideration&#148; means the Fair Market Value of non-cash
consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer&#146;s Certificate, setting forth the basis of such
valuation, less the amount of Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Preferred Stock&#148; means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer (other than
Disqualified Stock), that is issued for cash (other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock,
pursuant to an Officer&#146;s Certificate, on the issuance date thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Disqualified Stock&#148; means, with respect to any
Person, any Capital Stock of such Person which, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) is convertible or exchangeable for Indebtedness or Disqualified Stock of
such Person, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) is redeemable at the option of the holder thereof, in whole or in part (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case prior to 91 days after (x)&nbsp;the maturity date of the Securities or (y)&nbsp;the date the
Securities are no longer outstanding; <I>provided</I>, <I>however</I>, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof
prior to such date shall be deemed to be Disqualified Stock; <I></I><I>provided</I>, <I>further</I>, <I>however</I>, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Issuer or its Subsidiaries
or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer in order to satisfy applicable statutory or regulatory obligations or as a result of
such employee&#146;s termination, death or disability; <I>provided</I>, <I>further</I>, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that
is not Disqualified Stock shall not be deemed to be Disqualified Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;EBITDA&#148; means, with respect to any Person for any
period, the Consolidated Net Income of such Person and its Restricted Subsidiaries for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated Taxes; plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Consolidated Interest Expense; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Consolidated Non-cash Charges; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) business optimization expenses and other restructuring charges or expenses (which, for the avoidance of doubt, shall
include, without limitation, the effect of inventory optimization programs, plant closures, facility consolidations, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges);
<I>provided</I> that the aggregate amount of business optimization expenses and other restructuring charges or expenses added pursuant to this clause (4)&nbsp;shall not exceed the greater of (i)&nbsp;&#128;20&nbsp;million and (ii)&nbsp;10% of EBITDA
for such period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">less, without duplication, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) non-cash items increasing Consolidated Net Income for such period (excluding the recognition of deferred revenue or any
items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period and any items for which cash was received in a prior period). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Interests&#148; means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Offering&#148; means any public or private sale
after the Issue Date of common stock or Preferred Stock of the Issuer or any direct or indirect parent of the Issuer, as applicable (other than Disqualified Stock), other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) public offerings with respect to the Issuer&#146;s or such direct or indirect parent&#146;s common stock registered on Form
F-8 or F-4; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any such public or private sale that constitutes an Excluded Contribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Euros&#148; and &#147;&#128;&#148; each mean the single currency of the Member States of the European Union participating in the third
stage of the economic and monetary union pursuant to the Treaty on the Functioning of the European Union, as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;European Government Obligations&#148; means any security that is (i)&nbsp;a direct obligation of Ireland, Belgium, the Netherlands,
France, Germany or any country that is a member of the European Monetary Union on the date of the Euro Indenture, for the payment of which the full faith and credit of such country is pledged or (ii)&nbsp;an obligation of a person controlled or
supervised by and acting as an agency or instrumentality of any such country the payment of which is unconditionally guaranteed as a full faith and credit obligation by such country, which, in either case under the preceding clause (i)&nbsp;or (ii),
is not callable or redeemable at the option of the issuer thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Rate&#148; means, as of any day, the rate at which the relevant currency
may be exchanged into Euros or U.S. Dollars, as applicable, at approximately 11:00 a.m., New York City time, on such date on the Bloomberg Key Cross Currency Rates Page (or any successor page) for the relevant currency. In the event that such rate
does not appear on any Bloomberg Key Cross Currency Rates Page (or any successor page), the Exchange Rate shall be determined by the Issuer in good faith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Excluded Contributions&#148; means the Cash Equivalents or other assets (valued at their Fair Market Value as determined in good faith
by the Issuer) received by the Issuer after the Issue Date from: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) contributions to its common equity capital, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the sale (other than to a Subsidiary of the Issuer or to any Subsidiary management equity plan or stock option plan or any
other management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Issuer, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in
each case designated as Excluded Contributions pursuant to an Officer&#146;s Certificate executed by an Officer of the Issuer on or promptly after the date such capital contributions are made or the date such Capital Stock is sold, as the case may
be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Factoring Facilities&#148; means the receivables purchase facilities granted to certain Subsidiaries of the Issuer pursuant to
(a)&nbsp;the agreement dated as of January&nbsp;4, 2011 between GE Factofrance S.A.S. as purchaser, Constellium France, Constellium Extrusions France and Constellium Aviatube as sellers, Constellium Holdco II B.V. and Constellium Switzerland AG,
(b)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Singen GmbH as seller, (c)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and
Constellium Extrusions Deutschland GmbH as seller and (d)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Valais AG as seller, in each case, as such agreement may be amended, restated,
supplemented, waived, replaced (whether or not upon termination, and whether with the original parties or otherwise), restructured, or otherwise modified from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fair Market Value&#148; means, with respect to any asset or property, the price which could be negotiated in an arm&#146;s-length, free
market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed Charge Coverage Ratio&#148; means, with respect to any Person for any period, the ratio of EBITDA of such Person for such period
to the Fixed Charges of such Person for such period. In the event that the Issuer or any of its Restricted Subsidiaries Incurs, repays, repurchases, retires, extinguishes, defeases, discharges or redeems any Indebtedness (other than in the case of
revolving credit borrowings or revolving advances under any receivables financing, in which case interest expense shall be computed based upon the average daily </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
balance of such Indebtedness during the applicable period unless such Indebtedness has been permanently repaid and has not been replaced) or issues, repurchases or redeems Disqualified Stock or
Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but on or prior to the event for which the calculation of the Fixed Charge Coverage Ratio is made (the &#147;Calculation
Date&#148;), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase, retirement, extinguishment, defeasance, discharge or
redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and
discontinued operations (as determined in accordance with IFRS), in each case with respect to an operating unit of a business, and any operational changes that the Issuer or any of its Restricted Subsidiaries has determined to make and/or made
during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date (each, for purposes of this definition, a &#147;pro forma event&#148;) shall be calculated on a pro forma
basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and operational changes (and the change of any associated fixed charge obligations and the change in EBITDA
resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted
Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued operation or operational change, in each case with respect to an operating unit of a business,
that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation,
merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For
purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may
include adjustments appropriate, in the reasonable good faith determination of the Issuer, to reflect (1)&nbsp;operating expense reductions and other operating improvements or synergies reasonably expected to result from the applicable pro forma
event, and (2)&nbsp;all adjustments of the nature used in connection with the calculation of &#147;Adjusted EBITDA&#148; as set forth in &#147;Summary Consolidated Historical Financial Data&#148; in the Offering Memorandum to the extent such
adjustments, without duplication, continue to be applicable to such four-quarter period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Indebtedness bears a floating rate of
interest and is being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations
applicable to such Indebtedness if such Hedging Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or
accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. For purposes of making the computation referred to above, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable
period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually
chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed Charges&#148; means, with respect
to any Person for any period, the sum, without duplication, of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated Interest Expense of such Person for such
period, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all cash dividend payments (excluding items eliminated in consolidation) on any series of Preferred Stock
or Disqualified Stock of such Person and its Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Foreign Subsidiary&#148; means a Restricted Subsidiary not
organized or existing under the laws of the United States of America or any state or territory thereof or the District of Columbia. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;GAAP&#148; means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the
Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a
significant segment of the accounting profession. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Guarantee&#148; means any guarantee of the obligations of the Issuer under this
Indenture and the Securities by any Person in accordance with the provisions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;guarantee&#148; means a guarantee
(other than by endorsement of negotiable instruments for collection in the ordinary course of business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or
any part of any Indebtedness or other obligations. The amount of any guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such guarantee is
made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined in good faith by the Issuer. The term &#147;guarantee&#148; as a verb has a corresponding meaning. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Guarantor&#148; means any Person that Incurs a Guarantee; <I>provided</I> that upon the release or discharge of such Person from its
Guarantee in accordance with this Indenture, such Person ceases to be a Guarantor under this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Hedging Obligations&#148;
means, with respect to any Person, the obligations of such Person under: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) currency exchange, interest rate or commodity
Swap Agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates
or commodity prices. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Holder&#148; means the Person in whose name a Security is registered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Incur&#148; means issue, assume, guarantee, incur or otherwise become liable for; <I>provided</I>, <I>however</I>, that any Indebtedness
or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;IFRS&#148; means International Financial Reporting Standards promulgated from time to time by the International Accounting Standards
Board (or any successor board or agency, together the &#147;IASB&#148;) and as adopted by the European Union and statements and pronouncements of the IASB or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession, which are in effect from time to time (other than with respect to Capitalized Lease Obligations), it being understood that, for purposes of this Indenture, all references to codified accounting standards
specifically named in this Indenture shall be deemed to include any successor, replacement, amended or updated accounting standard under IFRS; <I>provided</I> that, at any time after adoption of GAAP by the Issuer (or the relevant reporting entity)
for its financial statements and reports for all financial reporting purposes, the Issuer (or the relevant reporting entity) may irrevocably elect to apply GAAP for all purposes of this Indenture, and, upon any such election, references in this
Indenture to IFRS shall be construed to mean GAAP as in effect on the date of such election and thereafter from time to time; provided that (1)&nbsp;all financial statements and reports required to be provided after such election pursuant to this
Indenture shall be prepared on the basis of GAAP, (2)&nbsp;from and after such election, all ratios, computations, calculations and other determinations based on IFRS contained in this Indenture shall be computed in conformity with GAAP (other than
with respect to Capitalized Lease Obligations) with retroactive effect being given thereto assuming that such election had been made on the Issue Date, (3)&nbsp;such election shall not have the effect of rendering invalid any payment or Investment
made prior to the date of such election pursuant to Section&nbsp;4.04 or any Incurrence of Indebtedness or Liens Incurred prior to the date of such election pursuant to Section&nbsp;4.03 (or any other action conditioned on the Issuer and the
Restricted Subsidiaries having been able to Incur $1.00 of additional Indebtedness) or Section&nbsp;4.12 if such payment, Investment, Incurrence or other action was valid under this Indenture on the date made, Incurred or taken, as the case may be
and (4)&nbsp;all accounting terms and references in this Indenture to accounting standards shall be deemed to be references to the most comparable terms or standards under GAAP. The Issuer shall give written notice of any election to the Trustee and
the Holders of the Securities within 15 days of such election. For the avoidance of doubt, (i)&nbsp;solely making an election (without any other action) referred to in this definition will not be treated as an Incurrence of Indebtedness or Liens,
and (ii)&nbsp;nothing herein shall prevent the Issuer, any Restricted Subsidiary or reporting entity from adopting or changing its functional or reporting currency in accordance with IFRS, or GAAP, as applicable; provided that such adoption or
change shall not have the effect of rendering invalid any payment or Investment made prior to the date of such election pursuant to the covenant described under Section&nbsp;4.04 or any Incurrence of Indebtedness or Liens Incurred prior to the date
of such adoption or change pursuant to Section&nbsp;4.03 or Section&nbsp;4.12 (or any other action conditioned on the Issuer and the Restricted Subsidiaries having been able to Incur $1.00 of additional Indebtedness) if such payment, Investment,
Incurrence or other action was valid under this Indenture on the date made, Incurred or taken, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indebtedness&#148; means, with respect to any Person (without duplication): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the principal and premium (if any) of any indebtedness of such Person, whether or not contingent, (a)&nbsp;in respect of
borrowed money, (b)&nbsp;evidenced by bonds, notes, debentures or similar instruments (except any such obligation issued in the ordinary course of business with a maturity date of no more than six months in a transaction intended to extend payment
terms of trade payables or similar obligations to trade creditors incurred in the ordinary course of business) or letters of credit or bankers&#146; acceptances (or, without duplication, reimbursement agreements in respect thereof),
(c)&nbsp;representing the deferred and unpaid purchase price of any property (except (i)&nbsp;any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case Incurred in the ordinary course of business,
(ii)&nbsp;any earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with IFRS and (iii)&nbsp;liabilities Incurred in the ordinary course of business), (d)&nbsp;in respect of Capitalized
Lease Obligations, or (e)&nbsp;representing any Hedging Obligations, if and to the extent that any of the foregoing indebtedness would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance
with IFRS; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as
obligor, guarantor or otherwise, the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such Person
(whether or not such Indebtedness is assumed by such Person); <I>provided</I>, <I>however</I>, that the amount of such Indebtedness will be the lesser of: (a)&nbsp;the Fair Market Value of such asset at such date of determination, and (b)&nbsp;the
amount of such Indebtedness of such other Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that notwithstanding the foregoing, Indebtedness shall be deemed not
to include (1)&nbsp;Contingent Obligations incurred in the ordinary course of business and not in respect of borrowed money; (2)&nbsp;deferred or prepaid revenues; (3)&nbsp;purchase price holdbacks in respect of a portion of the purchase price of an
asset to satisfy warranty or other unperformed obligations of the respective seller; or (4)&nbsp;obligations under or in respect of Factoring Facilities or Qualified Receivables Financings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without giving effect to,
the effects of International Accounting Standards No.&nbsp;39 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for
any embedded derivatives created by the terms of such Indebtedness; and any such amounts that would have constituted Indebtedness under this Indenture but for the application of this sentence shall not be deemed an Incurrence of Indebtedness under
this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indenture&#148; means this Indenture as amended or supplemented from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Independent Financial Advisor&#148; means an accounting, appraisal or investment banking
firm or consultant, in each case of nationally recognized standing, that is, in the good faith determination of the Issuer, qualified to perform the task for which it has been engaged. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Rating&#148; means a rating equal to or higher than Baa3 (or the equivalent) by Moody&#146;s and BBB- (or the
equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Securities&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality
thereof (other than Cash Equivalents), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) securities that have a rating equal to or higher than Baa3 (or equivalent) by
Moody&#146;s or BBB- (or equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency, but excluding any debt securities or loans or advances between and among the Issuer and its Subsidiaries, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) investments in any fund that invests exclusively in investments of the type described in clauses (1)&nbsp;and
(2)&nbsp;which fund may also hold immaterial amounts of cash pending investment and/or distribution, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) corresponding
instruments in countries other than the United States customarily utilized for high quality investments and in each case with maturities not exceeding two years from the date of acquisition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investments&#148; means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form
of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission, travel and similar advances to officers, employees and consultants made in the ordinary course
of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by IFRS to be classified on the balance sheet of the Issuer in the
same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For purposes of the definition of &#147;Unrestricted Subsidiary&#148; and Section&nbsp;4.04: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) &#147;Investments&#148; shall include the portion (proportionate to the Issuer&#146;s equity interest in such Subsidiary)
of the Fair Market Value of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary; <I>provided</I>, <I>however</I>, that upon a redesignation of such Subsidiary as a Restricted
Subsidiary, the Issuer shall be deemed to continue to have a permanent Investment in an Unrestricted Subsidiary equal to an amount (if positive) equal to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Issuer&#146;s Investment in such Subsidiary at the time of such redesignation less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the portion (proportionate to the Issuer&#146;s equity interest in such Subsidiary) of the Fair Market Value of the net
assets of such Subsidiary at the time of such redesignation; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any property transferred to or from an Unrestricted
Subsidiary shall be valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities are originally issued. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issuer&#148; means the party named as such in the Preamble to this Indenture until a successor replaces it and, thereafter, means the
successor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Lien&#148; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any
kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to give a
security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction); provided that in no event shall an operating lease or an option or an agreement to
sell be deemed to constitute a Lien. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Moody&#146;s&#148; means Moody&#146;s Investors Service, Inc. or any successor to the rating
agency business thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Income&#148; means, with respect to any Person, the net income (loss) of such Person, determined in
accordance with IFRS and before any reduction in respect of Preferred Stock dividends. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Proceeds&#148; means the aggregate cash
proceeds received by the Issuer or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration
received in any Asset Sale and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of
Indebtedness relating to the disposed assets or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including, without
limitation, legal, accounting and investment banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits
or deductions and any tax sharing arrangements related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to Section&nbsp;4.06(b)) to be paid as a
result of such transaction, and any deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with IFRS against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer after
such sale or other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such
transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Obligations&#148; means any principal, interest, penalties, fees, indemnifications, reimbursements (including, without
limitation, reimbursement obligations with respect to letters of credit and bankers&#146; acceptances), damages and other liabilities payable under the documentation governing any Indebtedness; provided that Obligations with respect to the
Securities shall not include fees or indemnifications in favor of the Trustee and other third parties other than the Holders of the Securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Offering Memorandum&#148; means the offering memorandum relating to the offering of the
Original Securities dated April&nbsp;30, 2014. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#148; means the chairman of the board, chief executive officer, chief
financial officer, president, any executive vice president, senior vice president or vice president, the treasurer or the secretary of the Issuer or its Subsidiary, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#146;s Certificate&#148; means a certificate signed on behalf of the Issuer or its Subsidiary (as applicable) by an Officer of
the Issuer or its Subsidiary (as applicable), who must be the principal executive officer, the principal financial officer, the treasurer, the secretary or the principal accounting officer of the Issuer or its Subsidiary, as applicable, that meets
the requirements set forth in this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Opinion of Counsel&#148; means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer or any Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Pari Passu
Indebtedness&#148; means: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) with respect to the Issuer, any Indebtedness which ranks pari passu in right of payment to
the Securities; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with respect to any Guarantor, any Indebtedness which ranks pari passu in right of payment to such
Guarantor&#146;s Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Investments&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Investment in the Issuer or any Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Investment in Cash Equivalents or Investment Grade Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any Investment by the Issuer or any Restricted Subsidiary of the Issuer in a Person if as a result of such Investment
(a)&nbsp;such Person becomes a Restricted Subsidiary of the Issuer, or (b)&nbsp;such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially
all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any Investment in
securities or other assets not constituting Cash Equivalents and received in connection with an Asset Sale made pursuant to the provisions of Section&nbsp;4.06 or any other disposition of assets not constituting an Asset Sale; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any Investment existing on, or made pursuant to binding commitments existing on, the Issue Date or an Investment consisting
of any extension, modification or renewal of any Investment existing on the Issue Date; <I>provided</I> that the amount of any such Investment may only be increased as required by the terms of such Investment as in existence on the Issue Date; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) advances to directors, officers or employees, taken together with all other
advances made pursuant to this clause (6), not to exceed &#128;15.0&nbsp;million at any one time outstanding; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any
Investment acquired by the Issuer or any of its Restricted Subsidiaries (a)&nbsp;in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy,
workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable, (b)&nbsp;as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other
transfer of title with respect to any secured Investment in default, or (c)&nbsp;as a result of the settlement, compromise or resolution of litigation, arbitration or other disputes with Persons who are not Affiliates; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) Hedging Obligations permitted under Section&nbsp;4.03(b)(xi); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) additional Investments by the Issuer or any of its Restricted Subsidiaries having an aggregate Fair Market Value, taken
together with all other Investments made pursuant to this clause (9)&nbsp;that are at that time outstanding, not to exceed the greater of (x)&nbsp;&#128;100.0&nbsp;million and (y)&nbsp;5.5% of Total Assets at the time of such Investment (with the
Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); <I>provided</I>, <I>however</I>, that if any Investment made pursuant to this clause (9)&nbsp;is made in any Person that
is not a Restricted Subsidiary of the Issuer at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment shall thereafter be deemed to have been made pursuant to clause
(1)&nbsp;above and shall cease to have been made pursuant to this clause (9)&nbsp;for so long as such Person continues to be a Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses and other
similar expenses, in each case Incurred in the ordinary course of business or to fund such Person&#146;s purchase of Equity Interests of the Issuer or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) Investments the payment for which consists of Equity Interests of the Issuer (other than Disqualified Stock) or any direct
or indirect parent of the Issuer, as applicable; <I>provided</I>, <I>however</I>, that the issue of such Equity Interests will not increase the amount available for Restricted Payments under clause (2)&nbsp;of the definition of &#147;Cumulative
Credit&#148;; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance
with the provisions of Section&nbsp;4.07(b) (except transactions described in clauses (ii), (vi), and (viii)(B) of such Section); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing arrangements
with other Persons; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) guarantees issued in accordance with Sections 4.03 and 4.11; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or
equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) (i) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in
connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness; <I>provided</I>, <I>however</I>,
that any Investment in a Receivables Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest and (ii)&nbsp;any other Investment in connection with a Qualified Receivables Financing or
Factoring Facility; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) any Investment in an entity or purchase of a business or assets in each case owned (or previously
owned) by a customer of a Restricted Subsidiary as a condition or in connection with such customer (or any member of such customer&#146;s group) contracting with a Restricted Subsidiary, in each case in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Investments of a Restricted Subsidiary of the Issuer acquired after the Issue Date or of an entity merged into,
amalgamated with, or consolidated with the Issuer or a Restricted Subsidiary of the Issuer in a transaction that is not prohibited by Section&nbsp;5.01 after the Issue Date to the extent that such Investments were not made in contemplation of such
acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) any Investment in any Subsidiary (including any Unrestricted Subsidiary) or joint venture in connection with intercompany
cash management arrangements or related activities arising in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) Investments in Quiver
Ventures, LLC in an amount not to exceed &#128;80&nbsp;million at any time outstanding; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) guarantees by the Issuer
or any Restricted Subsidiary of operating leases or of other obligations that do not constitute Indebtedness, in each case, entered into in the ordinary course of business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Liens&#148; means, with respect to any Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) pledges or deposits by such Person under workmen&#146;s compensation laws, unemployment insurance laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits
of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business;
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Liens imposed by law, such as carriers&#146;, warehousemen&#146;s and
mechanics&#146; Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding
with an appeal or other proceedings for review; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Liens for taxes, assessments or other governmental charges not yet due
which are being contested in good faith by appropriate proceedings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Liens in favor of issuers of performance and
surety bonds or bid bonds or with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses,
rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership
of its properties which were not Incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) Liens securing Indebtedness permitted to be Incurred pursuant to clause (v)&nbsp;of Section&nbsp;4.03(b) (<I>provided</I>
that such Lien extends only to the property and/or Capital Stock, the purchase, lease, construction or improvement of which is financed thereby and any income or profits therefrom); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Liens existing on the Issue Date (other than liens that secure the Credit Facilities existing on the Issue Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) Liens on assets, property or shares of stock of a Person in existence at the time such Person becomes a Subsidiary;
<I>provided</I>, <I>however</I>, that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; <I>provided</I>, <I>further</I>, <I>however</I>, that such Liens may not extend to
any other property owned by the Issuer or any Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) Liens on assets or property at the
time the Issuer or a Restricted Subsidiary of the Issuer acquired the assets or property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Issuer or any Restricted Subsidiary of the Issuer;
<I>provided</I>, <I>however</I>, that such Liens are not created or Incurred in connection with, or in contemplation of, such acquisition; <I>provided further</I>, <I>however</I>, that the Liens may not extend to any other property owned by the
Issuer or any Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) Liens on assets of a Restricted Subsidiary that is not a Guarantor
securing Indebtedness of such Restricted Subsidiary permitted to be Incurred pursuant to Section&nbsp;4.03, other than Indebtedness owed to another Restricted Subsidiary that is not a Guarantor; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) Liens securing Hedging Obligations not incurred in violation of this
Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person&#146;s
obligations in respect of bankers&#146; acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of the
Issuer or any of its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) Liens arising from Uniform Commercial Code financing statement filings
regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Liens in favor of the Issuer or any Guarantor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) Liens on accounts receivable and related assets of the type specified in the definition of &#147;Receivables
Financing&#148; Incurred in connection with a Qualified Receivables Financing and Factoring Facilities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) deposits made
in the ordinary course of business to secure liability to insurance carriers; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Liens on the Equity Interests of
Unrestricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) grants of software and other technology licenses in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings,
extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8)&nbsp;and (9); <I>provided</I>, <I>however</I>, that (x)&nbsp;such new Lien shall be limited to
all or part of the same property that secured the original Lien (plus improvements on such property), and (y)&nbsp;the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A)&nbsp;the outstanding
principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8)&nbsp;and (9)&nbsp;at the time the original Lien became a Permitted Lien under this Indenture, and (B)&nbsp;an amount necessary to pay any
fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21)
Liens on equipment of the Issuer or any Restricted Subsidiary granted in the ordinary course of business to the Issuer&#146;s or such Restricted Subsidiary&#146;s client at which such equipment is located; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights
related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) Liens arising out of conditional sale, title retention, consignment or
similar arrangements for the sale of goods entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) Liens incurred to secure
cash management services or to implement cash pooling arrangements in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) Liens arising
by virtue of any statutory or common law provisions or under the Dutch General Banking Conditions relating to banker&#146;s liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depository or
financial institution; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) any interest or title of a lessor under any Capitalized Lease Obligations; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint venture or
similar arrangement pursuant to any joint venture or similar agreement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) Liens in favor of customs and revenue
authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) Liens solely on any cash earnest money deposits made by the Issuer or any of its Restricted Subsidiaries in connection
with any letter of intent or purchase agreement in respect of any Investment permitted hereunder; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) Liens on securities
that are the subject of repurchase agreements constituting Cash Equivalents; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) Liens on equity interests of a joint
venture securing Indebtedness of such joint venture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) Liens securing Indebtedness and other Obligations under Credit
Facilities Incurred pursuant to clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;4.03(b) (other than Indebtedness Incurred pursuant to clause (ii)&nbsp;of such paragraph if such Indebtedness is required to be unsecured pursuant to the proviso to
sub-clause (B)&nbsp;thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) Liens securing obligations which obligations do not exceed, at the time of incurrence
thereof, the greater of (i)&nbsp;&#128;75.0&nbsp;million and (ii)&nbsp;4.5% of Total Assets; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) Liens securing
obligations in respect of letters of credit or bank guarantees issued in the ordinary course of business, which letters of credit or bank guarantees do not secure debt for borrowed money. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Person&#148; means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company,
trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Preferred
Stock&#148; means any Equity Interest with preferential right of payment of dividends or upon liquidation, dissolution, or winding up. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Purchase Money Note&#148; means a promissory note of a Receivables Subsidiary evidencing a
line of credit, which may be irrevocable, from the Issuer or any Subsidiary of the Issuer to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended to finance that portion of the purchase price that is
not paid by cash or a contribution of equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Qualified Receivables Financing&#148; means (1)&nbsp;the Receivables Financing
pursuant to the Factoring Facilities (including any increase in the amount thereof); and (2)&nbsp;any Receivables Financing that meets the following conditions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the Issuer shall have determined in good faith that such Receivables Financing (including financing terms, covenants,
termination events and other provisions) is in the aggregate economically fair and reasonable to the Issuer or, as the case may be, the Subsidiary in question; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all sales of accounts receivable and related assets are made at Fair Market Value; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the financing terms, covenants, termination events and other provisions thereof shall be market terms (as determined in
good faith by the Issuer) and may include Standard Undertakings and provided that in the case of Receivables Financings under clause (2), such Receivables Financings shall have no greater recourse in any material respect to the Issuer and its
Restricted Subsidiaries than the recourse to the Issuer and its Restricted Subsidiaries in the Factoring Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Rating
Agency&#148; means (1)&nbsp;each of Moody&#146;s and S&amp;P and (2)&nbsp;if Moody&#146;s or S&amp;P ceases to rate the Securities for reasons outside of the Issuer&#146;s control, a &#147;nationally recognized statistical rating organization&#148;
within the meaning of Section&nbsp;3(a)(62) under the Exchange Act selected by the Issuer or any direct or indirect parent of the Issuer as a replacement agency for Moody&#146;s or S&amp;P, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Fees&#148; means distributions or payments made directly or by means of discounts with respect to any participation
interests issued or sold in connection with, and all other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Financing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Financing&#148; means any transaction or series of transactions that may be entered into by any of the Issuer&#146;s
Subsidiaries pursuant to which such Subsidiary may sell, convey or otherwise transfer to any other Person, or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of such Subsidiary, and any
assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other
assets, in each case, which are customarily transferred in or in respect of which security interests are customarily granted in connection with asset securitization transactions or factoring transactions involving accounts receivable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Repurchase Obligation&#148; means any obligation of a seller of receivables in a Qualified Receivables Financing to
repurchase receivables arising as a result of a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off-set or counterclaim
of any kind as a result of any action taken by, any failure to take any action by or any other event relating to the seller. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Subsidiary&#148; means a Wholly Owned Restricted Subsidiary of the Issuer (or another Person formed for the purposes of
engaging in Qualified Receivables Financing with the Issuer in which the Issuer or any Subsidiary of the Issuer makes an Investment and to which the Issuer or any Subsidiary of the Issuer transfers accounts receivable and related assets) which
engages in no activities other than in connection with the financing of accounts receivable of the Issuer and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any
business or activities incidental or related to such business, and which is designated by the Issuer as a Receivables Subsidiary and: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i)&nbsp;is guaranteed by the
Issuer or any other Subsidiary of the Issuer (excluding guarantees of obligations (other than the principal of and interest on, Indebtedness) pursuant to Standard Undertakings), (ii)&nbsp;is recourse to or obligates the Issuer or any other
Subsidiary of the Issuer in any way other than pursuant to Standard Undertakings, or (iii)&nbsp;subjects any property or asset of the Issuer or any other Subsidiary of the Issuer, directly or indirectly, contingently or otherwise, to the
satisfaction thereof, other than pursuant to Standard Undertakings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with which neither the Issuer nor any other
Subsidiary of the Issuer has any material contract, agreement, arrangement or understanding other than on terms which the Issuer reasonably believes to be no less favorable to the Issuer or such Subsidiary than those that might be obtained at the
time from Persons that are not Affiliates of the Issuer; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to which neither the Issuer nor any other Subsidiary of
the Issuer has any obligation to maintain or preserve such entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Representative&#148; means the trustee, agent or representative (if any) for an issue of Indebtedness; <I>provided</I> that if, and for
so long as, such Indebtedness lacks such a Representative, then the Representative for such Indebtedness shall at all times constitute the holder or holders of a majority in outstanding principal amount of obligations under such Indebtedness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Responsible Officer of the Trustee&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president,
assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate
trust matter is referred because of such Person&#146;s knowledge of and familiarity with the particular subject; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2)
who shall have direct responsibility for the administration of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Investment&#148; means an Investment other than a Permitted Investment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Subsidiary&#148; means, with respect to any Person, any Subsidiary of such Person other than an Unrestricted Subsidiary of
such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Revolving Credit Facility&#148; has the meaning ascribed thereto in clause (i)&nbsp;of the definition of &#147;Credit Facilities.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Sale/Leaseback Transaction&#148; means an arrangement relating to property now owned or hereafter acquired by the Issuer or a
Restricted Subsidiary whereby the Issuer or a Restricted Subsidiary transfers such property to a Person and the Issuer or such Restricted Subsidiary leases it from such Person, other than leases between the Issuer and a Restricted Subsidiary of the
Issuer or between Restricted Subsidiaries of the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;S&amp;P&#148; means Standard&nbsp;&amp; Poor&#146;s Ratings Group or any
successor to the rating agency business thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;SEC&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Secured Indebtedness&#148; means any Indebtedness secured by a Lien. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities&#148; has the meaning given such term in the Preamble to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities Act&#148; means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Significant Subsidiary&#148; means any Restricted Subsidiary that would be a &#147;Significant Subsidiary&#148; of the Issuer within the
meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Similar Business&#148; means a business, the majority of whose
revenues are derived from the activities of the Issuer and its Subsidiaries as of the Issue Date or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary
thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Standard Undertakings&#148; means representations, warranties, covenants, indemnities and guarantees of performance
entered into by the Issuer or any Subsidiary of the Issuer that are determined by the Issuer in good faith to be customary in a Receivables Financing, including, without limitation, those relating to the servicing of assets of a Subsidiary, it being
understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Undertaking. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Stated Maturity&#148; means,
with respect to any security, the date specified in such security as the fixed date on which the final payment of principal of such security is due and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening
of any contingency beyond the control of the issuer unless such contingency has occurred). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subordinated Indebtedness&#148; means
(a)&nbsp;with respect to the Issuer, any Indebtedness of the Issuer which is by its terms subordinated in right of payment to the Securities, and (b)&nbsp;with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms
subordinated in right of payment to its Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subsidiary&#148; means, with respect to any Person, (1)&nbsp;any corporation,
association or other business entity (other than a partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to
vote in the election of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and
(2)&nbsp;any partnership, joint venture or limited liability company of which (x)&nbsp;more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are
owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and
(y)&nbsp;such Person or any Subsidiary of such Person is a controlling general partner or otherwise controls such entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Swap
Agreement&#148; means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or
securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for
payments only on account of services provided by current or former directors, officers, employees or consultants of the Issuer or any of the Restricted Subsidiaries shall be a Swap Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Taxes&#148; means all present and future taxes, levies, imposts, deductions, charges, duties, and withholdings and any similar
governmental charges (including interest and penalties with respect thereto) by any government or taxing authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Total
Assets&#148; means, as of any date of determination, the total consolidated assets of the Issuer and the Restricted Subsidiaries, as shown on the most recent balance sheet of the Issuer, and determined as of the time of the occurrence of any event
giving rise to the requirement to determine Total Assets and after giving pro forma effect to the occurrence of such event and all other acquisitions or dispositions of a Person, business or assets that have been completed or are subject to a
definitive agreement from the date of such balance sheet to the date of such event giving rise to the requirement to determine Total Assets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Transactions&#148; means the issuance of the Securities on the Issue Date, the repayment of certain existing credit facilities of the
Issuer with the proceeds thereof, and the payment of fees and expenses and the premium in connection therewith. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Trustee&#148; means the party named as such in this Indenture until a successor replaces it
and, thereafter, means the successor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Uniform Commercial Code&#148; means the New York Uniform Commercial Code as in effect from
time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Subsidiary&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the Board
of Directors of such Person in the manner provided below; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Subsidiary of an Unrestricted Subsidiary; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Quiver Ventures, LLC and Constellium Engley (Changchung) Automotive Structures Co. Ltd. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I></I>The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly formed Subsidiary of the Issuer)
to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other Subsidiary of the Issuer that is not a Subsidiary
of the Subsidiary to be so designated; <I>provided</I>,<I> however</I>, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur any Indebtedness pursuant to which the lender has
recourse to any of the assets of the Issuer or any of its Restricted Subsidiaries; provided, further, however, that either:<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) if such Subsidiary has consolidated assets greater than $1,000, then such designation would be permitted under
Section&nbsp;4.04. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I></I>The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary;
<I>provided</I>,<I> however</I>, that immediately after giving effect to such designation:<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(x) (1) the Issuer could Incur $1.00 of
additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a) or (2)&nbsp;the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries would be equal to or greater than such ratio for
the Issuer and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(y) no Event of Default shall have occurred and be continuing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a copy of
the resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer&#146;s Certificate certifying that such designation complied with the foregoing provisions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;U.S. Dollars&#148; and &#147;$&#148; each mean the lawful currency of the United States of
America. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Voting Stock&#148; of any Person as of any date means the Capital Stock of such Person that is at the time entitled to
vote in the election of the Board of Directors of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;Weighted Average Life to Maturity&#148; means, when
applied to any Indebtedness or Disqualified Stock, as the case may be, at any date, the quotient obtained by dividing (1)&nbsp;the sum of the products of the number of years from the date of determination to the date of each successive scheduled
principal payment of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock multiplied by the amount of such payment, by (2)&nbsp;the sum of all such payments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Restricted Subsidiary&#148; is any Wholly Owned Subsidiary that is a Restricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Subsidiary&#148; of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other ownership
interests of which (other than directors&#146; qualifying shares or shares required to be held by Foreign Subsidiaries) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.02 <U>Other Definitions</U>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:17.30pt; font-size:8pt; font-family:Times New Roman"><B></B>Term<B></B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>Defined<B></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:32.15pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B></B>in Section<B></B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Add-On Securities&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Additional Amounts&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Affiliate Transaction&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4.07(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Appendix&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Asset Sale Offer&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Auditors&#146; Determination&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Authenticating Agent&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Bankruptcy Law&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Change of Control Offer&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4.08(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Common Depositary&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;covenant defeasance option&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Covenant Suspension Event&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Custodian&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Definitive Security&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Depository&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Directive&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;DPTA&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">10.02(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Euroclear&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Event of Default&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Excess Proceeds&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;French Guarantor&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;German Guarantor&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Global Securities&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Appendix A</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Global Securities Legend&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbH&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbHG&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(iii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbH&nbsp;&amp; Co. KG&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Guaranteed Obligations&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.01(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;HGB&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;IAI&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;incorporated provision&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>11.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Indirect Issuance&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Initial Purchasers&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;legal defeasance option&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Management Determination&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(v)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Maximum Guaranteed Amount&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Note Register&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Notice of Default&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Offer Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.06(d)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Original Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Paying Agent&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Payor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;protected purchaser&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.08</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;QIB&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Refinancing Indebtedness&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.03(b)(xiv)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Refunding Capital Stock&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.04(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Registrar&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Regulation S&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Regulation S Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Relevant Taxing Jurisdiction&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Global Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Payments&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Securities Legend&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Retired Capital Stock&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.04(b)(ii)(A)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Reversion Date&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 501&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Shelf Registration Statement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Company&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>5.01(a)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>5.01(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspended Covenants&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspension Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Agreement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(d)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>5.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer Agent&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer Restricted Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Trustee&#146;s Request&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Withholding Tax&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(d)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Unrestricted Definitive Security&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.03 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.04 <U>Rules of Construction</U>. Unless the context otherwise requires: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a term has the meaning assigned to it; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &#147;or&#148; is not exclusive; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) &#147;including&#148; means including without limitation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) words in the singular include the plural and words in the plural include the singular; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the Issuer dated such date prepared in accordance with IFRS; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the principal amount of any Preferred Stock shall be (i)&nbsp;the maximum liquidation value of such Preferred Stock or
(ii)&nbsp;the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations
hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with IFRS. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) For purposes of determining compliance with any Euro-denominated restriction or basket limitation under Sections&nbsp;4.03,
4.04, 4.06 and 4.12 hereof (including any defined terms referenced and utilized in such sections), as of any time of determination, any such basket limitation shall be deemed to be the greater of (i)&nbsp;the applicable Euro-denominated amount set
forth in this Indenture and (ii)&nbsp;the amount of Euro obtained by multiplying the applicable Euro-denominated amount set forth in this Indenture by 1.3774 (which was the dollar-to-Euro Exchange Rate as of March&nbsp;31, 2014) and then multiplying
the result by a number equal to the amount of Euros into which 1 U.S.&nbsp;Dollar may be converted using the Exchange Rate in effect at the time of determination. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) For purposes of determining compliance with Sections 4.03, 4.04, 4.06 and 4.12 hereof, utilized amounts under any such
covenant or basket shall be tracked in Euro irrespective of what currency is actually used to make the Incurrence. When an Incurrence is made in a currency other than Euro, the amount of Euro for purposes of the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
applicable covenant(s) shall be calculated based on the relevant currency Exchange Rate in effect on the date such Incurrence was made, <I>provided</I> that if Indebtedness is Incurred to
refinance other Indebtedness denominated in a currency other than Euros, and such refinancing would cause the applicable Euro-denominated restriction to be exceeded if calculated at the relevant currency Exchange Rate in effect on the date of such
refinancing, such Euro-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.05 <U>Acts of Holders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Proof of execution of any such instrument or of a writing appointing any such
agent, or the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section&nbsp;7.01) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section&nbsp;1.05.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a
witness of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof.
Where such execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such
instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The ownership of Securities shall be proved by the Note Register. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall
bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered or omitted by the Trustee or the
Issuer in reliance thereon, whether or not notation of such action is made upon such Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Issuer may set a
record date for purposes of determining the identity of Holders entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent authorized or
permitted to be given or taken by Holders. Unless otherwise specified, if not set by the Issuer prior to the first solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote, prior to such vote, any
such record date shall be the later of 30 days prior to the first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Without limiting the foregoing, a Holder entitled to take any action
hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or
any part of such principal amount. Any notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by separate Holders of
each such different part. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Without limiting the generality of the foregoing, a Holder, including the Common Depositary
that is the Holder of a Global Security, may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or
taken by Holders, and the Common Depositary that is the Holder of a Global Security may provide its proxy or proxies to the beneficial owners of interests in any such Global Security through such depositary&#146;s standing instructions and customary
practices. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The Issuer may fix a record date for the purpose of determining the Persons who are beneficial owners of
interests in any Global Security held by the Common Depositary entitled under the procedures of such depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent,
waiver or other action provided in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give
or take such request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other
action shall be valid or effective if made, given or taken more than 90 days after such record date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE SECURITIES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
2.01 <U>Amount of Securities</U>. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture on the Issue Date is &#128;300,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, the Issuer may from time to time after the Issue Date issue Add-On Securities under this Indenture in an unlimited principal
amount, so long as (i)&nbsp;the Incurrence of the Indebtedness represented by such Add-On Securities is at such time permitted by Section&nbsp;4.03 and (ii)&nbsp;such Add-On Securities are issued in compliance with the other applicable provisions of
this Indenture. With respect to any Add-On Securities issued after the Issue Date (except for Securities authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Securities pursuant to
Section&nbsp;2.07, 2.08, 2.09, 2.10, 3.06, 4.08(c) or the Appendix), there shall be (a)&nbsp;established in or pursuant to a resolution of the Board of Directors and (b)&nbsp;(i)&nbsp;set forth or determined in the manner provided in an
Officer&#146;s Certificate or (ii)&nbsp;established in one or more indentures supplemental hereto, prior to the issuance of such Add-On Securities: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the aggregate principal amount of such Add-On Securities which may be authenticated and delivered under this Indenture,
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issue price and issuance date of such Add-On Securities, including the
date from which interest on such Add-On Securities shall accrue; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) if applicable, that such Add-On Securities shall
be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective depositaries for such Global Securities, the form of any legend or legends which shall be borne by such Global Securities in addition to
or in lieu of those set forth in Exhibit A hereto and any circumstances in addition to or in lieu of those set forth in Section&nbsp;2.2 of Appendix A in which any such Global Security may be exchanged in whole or in part for Add-On Securities
registered, or any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the depositary for such Global Security or a nominee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any of the terms of any Add-On Securities are established by action taken pursuant to a resolution of the Board of Directors, a copy of an
appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Officer&#146;s Certificate or the indenture supplemental hereto setting
forth the terms of the Add-On Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities, including any Add-On Securities, shall be treated as a single series for all
purposes under this Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.02
<U>Form and Dating</U>. Provisions relating to the Original Securities and the Add-On Securities are set forth in the Appendix, which is hereby incorporated in and expressly made a part of this Indenture. The (i)&nbsp;Original Securities and the
Trustee&#146;s certificate of authentication and (ii)&nbsp;any Add-On Securities (if issued as Transfer Restricted Securities) and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is
hereby incorporated in and expressly made a part of this Indenture. Any Add-On Securities issued other than as Transfer Restricted Securities and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A
hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer or any Guarantor is subject, if any,
or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuer). Each Security shall be dated the date of its authentication. The Securities shall be issuable only in registered form without interest coupons
and in denominations of &#128;100,000 and any integral multiples of &#128;1,000 in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.03 <U>Execution and
Authentication</U>. The Trustee, or its authenticating agent (the &#147;Authenticating Agent&#148;) shall authenticate and make available for delivery upon a written order of the Issuer (a &#147;Written Order&#148;) in the form of an Officer&#146;s
Certificate (a)&nbsp;Original Securities for original issue on the date hereof in an aggregate principal amount of &#128;300,000,000, consisting of &#128;300,000,000 in initial aggregate principal amount of 4.625% Senior Notes due 2021 and
(b)&nbsp;subject to the terms of this Indenture, Add-On Securities in an aggregate principal amount to be determined at the time of issuance and specified therein. Such order shall specify the amount of the Securities to be authenticated and the
date on which </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the original issue of Securities is to be authenticated. Notwithstanding anything to the contrary in this Indenture or the Appendix, any issuance of Securities after the Issue Date shall be in a
principal amount of at least &#128;100,000 and integral multiples of &#128;1,000 in excess of &#128;100,000. One Officer shall sign the Securities for the Issuer by manual, facsimile, pdf or other electronically transmitted signature. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security
shall be valid nevertheless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Security shall not be valid until an authorized signatory of the Authenticating Agent manually signs the
certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Securities. Any such
appointment shall be evidenced by an instrument signed by a Responsible Officer of the Trustee, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as any Registrar, Paying Agent or agent for service of notices and
demands. The Issuer hereby initially appoints Deutsche Bank Luxembourg S.A., as Authenticating Agent. Deutsche Bank Luxembourg S.A., hereby accepts such initial appointment and the Issuer hereby confirms that such initial appointment is acceptable
to them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.04 <U>Registrar; Transfer Agent and Paying Agent</U>. (a)</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer will maintain one or more paying agents for the Securities in London, United Kingdom (the &#147;Principal Paying Agent&#148;). Each
of the Principal Paying Agent will be a &#147;Paying Agent&#148;, as defined herein. The Issuer will also maintain a transfer agent (&#147;Transfer Agent&#148;) and the initial Transfer Agent is expected to be Deutsche Bank Luxembourg S.A. The
Transfer Agent is responsible for, among other things, facilitating any transfers or exchanges of beneficial interests in different global notes between holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, the Issuer undertakes that it will ensure that it maintains a Paying Agent in a Member State of the European Union that is not
obliged to withhold or deduct tax pursuant to European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the European Council of Economics and Finance Ministers (&#147;ECOFIN&#148;) meeting of November&nbsp;26-27,
2000 or any law implementing or complying with, or introduced in order to conform to, such Directive. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer also will maintain one
or more registrars. The initial Registrar is expected to be Deutsche Bank Luxembourg S.A. The Registrar will maintain a register reflecting ownership of Definitive Registered Notes outstanding from time to time and will make payments on Definitive
Registered Notes on behalf of the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer may change the Paying Agents, the Transfer Agents or the Registrars without prior
notice to the holders. For so long as the Securities are listed on the Official List of the Luxembourg Stock Exchange and traded on the Euro MTF Market thereof and the rules of the Luxembourg Stock Exchange so require, the Issuer will publish a
notice of any change of Paying </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Agent, Transfer Agent or Registrar in a newspaper having a general circulation in the Grand Duchy of Luxembourg (currently expected to be the <I>Luxemburger Wort</I>) or the website of the
Luxembourg Stock Exchange (<I><U>www.bourse.lu</U></I>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Issuer hereby initially appoints Deutsche Bank Luxembourg S.A., as Registrar
and Transfer Agent. Deutsche Bank Luxembourg S.A., hereby accepts such initial appointment and the Issuer hereby confirms that such initial appointment is acceptable to them. The Issuer hereby initially appoints Deutsche Bank AG, London Branch, as
Principal Paying Agent. Deutsche Bank AG, London Branch, hereby accepts such initial appointment and the Issuer hereby confirms that such initial appointment is acceptable to them. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall maintain (i)&nbsp;an office or agency where Securities may be presented for registration of transfer or for exchange (the
&#147;Registrar&#148;) and (ii)&nbsp;an office or agency where Securities may be presented for payment (the &#147;Paying Agent&#148;). The Registrar shall keep a register of the Securities and of their transfer and exchange (the &#147;Note
Register&#148;). The Issuer may have one or more co-registrars and one or more additional paying agents. The term &#147;Registrar&#148; includes any co-registrars. The term &#147;Paying Agent&#148; includes the Paying Agent and any additional paying
agents. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Issuer may enter into an appropriate agency agreement with any Registrar or Paying Agent not a party to
this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuer shall notify the Trustee of the name and address of any such agent. The Issuer or any of its domestically organized Wholly Owned
Subsidiaries may act as Paying Agent or Registrar. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may remove any Registrar or Paying Agent upon written
notice to such Registrar or Paying Agent and to the Trustee; <I>provided</I>, <I>however</I>, that no such removal shall become effective until (i)&nbsp;if applicable, acceptance of an appointment by a successor as evidenced by an appropriate
agreement entered into by the Issuer and such successor Registrar or Paying Agent, as the case may be, and delivered to the Trustee. The Registrar or Paying Agent may resign at any time upon written notice to the Issuer and the Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The right, powers, duties, obligations and actions of each Agent under this Indenture are several and not joint or joint and several, and the
Agents shall only be obliged to perform the duties set out in this agreement and shall have no implied duties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.05 <U>Paying
Agent to Hold Money in Trust</U>. Prior to 10:00 a.m. London Time on each due date of the principal of and interest on any Security, the Issuer shall deposit with each Paying Agent (or if the Issuer or a Wholly Owned Subsidiary is acting as Paying
Agent, segregate and hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay such principal and interest when so becoming due. The Issuer shall require each Paying Agent (other than the Trustee) to agree in writing
that a Paying Agent shall hold in trust for the benefit of Holders or the Trustee all money held by a Paying Agent for the payment of principal of and interest on the Securities, and shall notify the Trustee of any default by the Issuer in making
any such payment. If the Issuer or a Wholly Owned Subsidiary of the Issuer acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it in trust for the benefit of the Persons entitled thereto. The Issuer at any time may
require a Paying Agent to pay all money held by it to the Trustee and to account for any funds disbursed by such Paying Agent. Upon complying with this Section, a Paying Agent shall have no further liability for the money delivered to the Trustee.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.06 <U>Holder Lists</U>. The Registrar shall preserve in as current a form as is
reasonably practicable the most recent list available to it of the names and addresses of Holders. The Issuer shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five Business Days before each interest payment date
and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.07 <U>Transfer and Exchange</U>. The Securities shall be issued in registered form and shall be transferable only upon the surrender
of a Security for registration of transfer and in compliance with the Appendix. When a Security is presented to the Registrar with a request to register a transfer, the Registrar shall register the transfer as requested if its requirements therefor
are met. When Securities are presented to the Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. To
permit registration of transfers and exchanges, the Issuer shall execute and the Trustee or the Authenticating Agent shall, upon receipt of a Written Order, authenticate Securities at the Registrar&#146;s request. The Issuer may require payment of a
sum sufficient to pay all taxes, assessments or other governmental charges in connection with any transfer or exchange pursuant to this Section. The Issuer shall not be required to make, and the Registrar need not register, transfers or exchanges of
Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or of any Securities for a period of 15 days before a selection of Securities to be redeemed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Prior to the due presentation for registration of transfer of any Security, the Issuer, the Guarantors, the Trustee, the Paying Agent and the
Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest, if any, on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuer, any Guarantor, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any Holder of a beneficial interest in a Global Security shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Security may be effected only through a book-entry system maintained by (a)&nbsp;the Holder of such Global Security (or its agent) or (b)&nbsp;any Holder of a beneficial interest in such Global Security, and that ownership
of a beneficial interest in such Global Security shall be required to be reflected in a book entry. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All Securities issued upon any
transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.08 <U>Replacement Securities</U>. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that
the Security has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Registrar shall authenticate a replacement Security if the requirements of Section&nbsp;8-405 of the Uniform Commercial Code are met, such that the Holder
(a)&nbsp;satisfies the Issuer or the Registrar within a reasonable time after such Holder </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b)&nbsp;makes such request to the Issuer or the
Registrar prior to the Security being acquired by a protected purchaser as defined in Section&nbsp;8-303 of the Uniform Commercial Code (a &#147;protected purchaser&#148;) and (c)&nbsp;satisfies any other reasonable requirements of the Registrar. If
required by the Registrar or the Issuer, such Holder shall furnish an indemnity bond sufficient in the judgment of the Registrar or the Issuer to protect the Issuer, the Registrar, a Paying Agent and the Registrar from any loss that any of them may
suffer if a Security is replaced. The Issuer and the Registrar may charge the Holder for their expenses in replacing a Security (including without limitation, attorneys&#146; fees and disbursements in replacing such Security). In the event any such
mutilated, lost, destroyed or wrongfully taken Security has become or is about to become due and payable, the Issuer in its discretion may pay such Security instead of issuing a new Security in replacement thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Every replacement Security is an additional obligation of the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The provisions of this Section&nbsp;2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to
the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.09 <U>Outstanding Securities</U>.
Securities outstanding at any time are all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. Subject to Section&nbsp;11.07, a
Security does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Security is replaced
pursuant to Section&nbsp;2.08 (other than a mutilated Security surrendered for replacement), it ceases to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Security is held by a protected
purchaser. A mutilated Security ceases to be outstanding upon surrender of such Security and replacement thereof pursuant to Section&nbsp;2.08. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Paying Agent segregates, in accordance with this Indenture, on a redemption date or maturity date money sufficient to pay all principal
and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and no Paying Agent is prohibited from paying such money to the Holders on that date pursuant to the terms of this
Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.10 <U>[Reserved.]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.11 <U>Cancellation</U>. The Issuer at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying
Agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer, exchange, payment or
cancellation and shall dispose of canceled Securities in accordance with its customary procedures. The Issuer may not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee for cancellation. The Trustee shall
not authenticate Securities in place of canceled Securities other than pursuant to the terms of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.12 <U>Defaulted Interest</U>. If the Issuer defaults in a payment of interest on the
Securities, the Issuer shall pay the defaulted interest then borne by the Securities (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are Holders on a
subsequent special record date. The Issuer shall fix or cause to be fixed any such special record date and payment date and shall promptly mail or cause to be mailed to each affected Holder a notice that states the special record date, the payment
date and the amount of defaulted interest to be paid. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.13 <U>ISINs, etc.</U> The Issuer in issuing the Securities may use ISINs
and &#147;Common Code&#148; numbers (if then generally in use) and, if so, the Trustee shall use ISINs and &#147;Common Code&#148; numbers in notices of redemption as a convenience to Holders; <I>provided</I>, <I>however</I>, that any such notice
may state that no representation is made as to the correctness of such numbers, either as printed on the Securities or as contained in any notice of a redemption that reliance may be placed only on the other identification numbers printed on the
Securities and that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall advise the Trustee of any change in the ISINs and &#147;Common Code&#148; numbers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.14 <U>Calculation of Principal Amount of Securities</U>. The aggregate principal amount of the Securities, at any date of
determination, shall be the principal amount of the Securities outstanding at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the Holders of a specified percentage of the principal amount
of all the Securities, such percentage shall be calculated, on the relevant date of determination, by dividing (a)&nbsp;the principal amount, as of such date of determination, of Securities, the Holders of which have so consented, by (b)&nbsp;the
aggregate principal amount, as of such date of determination, of the Securities then outstanding, in each case, as determined in accordance with the preceding sentence, Section&nbsp;2.09 and Section&nbsp;11.07 of this Indenture. Any such calculation
made pursuant to this Section&nbsp;2.14 shall be made by the Issuer and delivered to the Trustee pursuant to an Officer&#146;s Certificate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.15 <U>Additional Amounts</U>. All payments made by or on behalf of the Issuer or any Guarantor or any successor in interest to any
of the foregoing (each, a &#147;Payor&#148;) on or with respect to the Securities or any Guarantee shall be made without withholding or deduction for, or on account of, any Taxes unless such withholding or deduction is required by law. If any
deduction or withholding for, or on account of, any Taxes imposed or levied by or on behalf of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any jurisdiction from
or through which payment on the Securities or any Guarantee is made or any political subdivision or governmental authority thereof or therein having the power to tax (including the jurisdiction of any Paying Agent); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any other jurisdiction in which a Payor that actually makes a payment on the Securities or its Guarantee is organized or
otherwise considered to be engaged in business or resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of clause (a)&nbsp;and (b), a &#147;Relevant Taxing Jurisdiction&#148;), shall at any time be required by law to be made from any payments made with
respect to the Securities or any Guarantee, including payments of principal, redemption price, interest or premium, if any, the Payor shall pay (together with such payments) such additional amounts (the &#147;Additional Amounts&#148;) as may
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
be necessary in order that the net amounts received in respect of such payments, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts),
shall not be less than the amounts that would have been received in respect of such payments on the Securities or the Guarantees in the absence of such withholding or deduction; provided, however, that no such Additional Amounts shall be payable for
or on account of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Taxes that would not have been so imposed or levied but for the existence of any present or
former connection between the holder (or between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor of power over, the holder, if such holder is an estate, nominee, trust, partnership, limited liability company or
corporation) and the Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but
excluding, in each case, any connection arising solely from the acquisition, ownership or holding of such Securities or the receipt of any payment in respect thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Taxes that would not have been so imposed or levied if the holder had complied with a reasonable request in writing of
the Payor (such request being made at a time that would enable such holder acting reasonably to comply with that request) to make a declaration of nonresidence or any other claim or filing or satisfy any certification, information or reporting
requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required by the applicable law, treaty, regulation or
administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such Taxes) but only to the extent such holder is legally entitled to provide such
certification or documentation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any Taxes that are payable otherwise than by withholding from a payment on the
Securities or any Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any estate, inheritance, gift, sales, excise, transfer, personal property or similar
Taxes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any Taxes that are imposed pursuant to or required to be deducted or withheld on a payment pursuant to the
European Union Directive 2003/48/EC regarding the taxation of savings income (the &#147;Directive&#148;) or the Agreement between the European Community and the Swiss Confederation dated October&nbsp;26, 2004 providing for measures equivalent to
those laid down in the Directive (the &#147;Swiss Agreement&#148;) or any law implementing or complying with, or introduced in order to conform to the Directive or the Swiss Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any Taxes that are required to be deducted or withheld on a payment by a Guarantor incorporated in Switzerland and/or
having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to art 9 of the Swiss Withholding Tax Act as Swiss withholding tax under the Swiss Federal Act on the Withholding Tax of 13&nbsp;October 1965 (<I>Bundesgesetz
&uuml;ber die Verrechnungssteuer</I>); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any Taxes imposed in connection with a Security presented for payment by or
on behalf of a Holder who would have been able to avoid such Tax by presenting the relevant Security to another paying agent in a member state of the European Union; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) any Taxes payable under Sections 1471 through 1474 of the Code, as of the date of the Offering Memorandum (or any amended
or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements (including any intergovernmental agreements) entered into
pursuant thereto; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any Taxes if the holder is a fiduciary or partnership or Person other than the sole beneficial owner
of such payment and the Taxes that would otherwise give rise to such Additional Amounts would not have been imposed on such payment had the holder been the beneficiary, partner or sole beneficial owner, as the case may be, of such Security (but only
if there is no material cost or expense associated with transferring such Security to such beneficiary, partner or sole beneficial owner and no restriction on such transfer that is outside the control of such beneficiary, partner or sole beneficial
owner); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any Taxes payable pursuant to laws enacted by Switzerland providing for the taxation of payments according to
principles similar to those laid down in the draft legislation proposed by the Swiss Federal Council on 24&nbsp;August 2011, in particular, the principle to have a Person other than the Issuer withhold or deduct tax; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) any Taxes payable pursuant to an agreement between Switzerland and another country on final withholding taxes levied by
Swiss paying agents in respect of Persons resident in the other country on income of such Person on Securities booked or deposited with a Swiss paying agent (<I>Abgeltungssteuer</I>); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any combination of the above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Such Additional Amounts shall also not be payable (x)&nbsp;if the payment could have been made without such deduction or withholding if the
relevant Security had been presented for payment (where presentation is required) within 30 days after the relevant payment was first made available for payment to the holder or (y)&nbsp;to the extent where, had the beneficial owner of the relevant
Security been the Holder of such Security, such beneficial owner would not have been entitled to payment of Additional Amounts by reason of any of clauses (1)&nbsp;to (12)&nbsp;inclusive above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Payor shall (i)&nbsp;make any required withholding or deduction and (ii)&nbsp;remit the full amount deducted or withheld to the relevant
taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. Upon request, the Payor shall use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld
from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and shall provide such certified copies to the Trustee. If, notwithstanding the efforts of such Payor to obtain such receipts, the same are not obtainable,
such Payor shall provide the Trustee with other reasonable evidence of payment. Such receipts or other evidence received by the Trustee shall be made available by the Trustee to Holders on request. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Payor shall be obligated to pay Additional Amounts under or with respect to any payment
made on the Securities or any Guarantee, at least 30 days prior to the date of such payment, the Payor shall deliver to the Trustee and applicable Paying Agent an Officer&#146;s Certificate stating the fact that Additional Amounts shall be payable
and the amount so payable and such other information necessary to enable the Paying Agent to pay Additional Amounts on the relevant payment date (unless such obligation to pay Additional Amounts arises less than 45 days prior to the relevant payment
date, in which case the Payor shall deliver such Officer&#146;s Certificate and such other information as promptly as practicable thereafter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wherever in this Indenture, the Securities or any Guarantee there is mentioned, in any context: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the payment of principal; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) redemption prices or purchase prices in connection with a redemption or purchase of Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) interest; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other amount payable on or with respect to any of the Securities or any Guarantee; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">such reference shall be deemed to include payment of Additional Amounts as described under this heading to the extent that, in such context, Additional
Amounts are, were or would be payable in respect thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Payor shall pay any present or future stamp, court or documentary Taxes, or
any other excise, property or similar Taxes that arise in any Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial resale, registration or enforcement of any Securities, Guarantee, Indenture or any other document or
instrument in relation thereto (other than a transfer of the Securities occurring after the initial resale). The foregoing obligations shall survive any termination, defeasance or discharge of this Indenture and shall apply <I>mutatis mutandis</I>
to any jurisdiction in which any successor to a Payor is organized or otherwise considered to be engaged in business or resident for Tax purposes, or any political subdivision or taxing authority or agency thereof or therein. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 3 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REDEMPTION
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.01 <U>Redemption</U>. The Securities may be redeemed, in whole, or from time to time in part, subject to the conditions and
at the redemption prices set forth in Paragraphs 5 and 6 of the form of Securities set forth in Exhibit A hereto, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to the
redemption date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.02 <U>Applicability of Article</U>. Redemption of Securities at the election of the Issuer or otherwise, as
permitted or required by any provision of this Indenture, shall be made in accordance with such provision and this Article. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.03 <U>Notices to Trustee</U>. If the Issuer elects to redeem Securities pursuant to the
optional redemption provisions of Paragraph 5 or 6 of the Security, it shall notify the Trustee and the Paying Agent in writing of (i)&nbsp;the Section of this Indenture pursuant to which the redemption shall occur, (ii)&nbsp;the redemption date,
(iii)&nbsp;the principal amount of Securities to be redeemed and (iv)&nbsp;the redemption price. The Issuer shall give notice to the Trustee and the Paying Agent provided for in this paragraph at least 30&nbsp;days but not more than 60 days before a
redemption date if the redemption is pursuant to Paragraph 5 of the Security, unless a shorter period is acceptable to the Trustee. Such notice shall be accompanied by an Officer&#146;s Certificate and Opinion of Counsel from the Issuer to the
effect that such redemption will comply with the conditions herein. If fewer than all the Securities are to be redeemed, the record date relating to such redemption shall be selected by the Issuer and given to the Trustee, which record date shall be
not fewer than 15 days after the date of notice to the Trustee. Any such notice may be canceled at any time prior to notice of such redemption being mailed to any Holder and shall thereby be void and of no effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.04 <U>Selection of Securities to Be Redeemed</U>. In the case of any redemption of less than all of the Securities, selection of
Securities for redemption will be made by the Registrar pro rata, by lot or such other manner in the case of Global Securities, as may be required by the applicable procedures of Euroclear and/or Clearstream; provided that no Securities of
&#128;100,000 or less shall be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption relating to such Security shall state the portion of the principal amount thereof to be redeemed. Euroclear and Clearstream
will credit their respective participants&#146; accounts on a proportionate basis (with adjustments to prevent fractions) or on such other basis as they deem fair and appropriate; provided, however, that no Securities of less than &#128;100,000 in
principal amount may be redeemed in part. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Registrar shall notify the Issuer promptly of the Securities or
portions of Securities to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.05 <U>Notice of Optional Redemption</U>. (a)&nbsp;At least 30 days but not more than 60
days before a redemption date pursuant to Paragraph 5 or 6 of the Security, the Issuer shall mail or cause to be electronically delivered or mailed by first-class mail a notice of redemption to each Holder whose Securities are to be redeemed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such notice shall identify the Securities to be redeemed and shall state: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the redemption price and the amount of accrued interest to the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the name and address of the Paying Agent; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price, plus
accrued interest; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if fewer than all the outstanding Securities are to be redeemed, the certificate numbers and
principal amounts of the particular Securities to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial redemption; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) that, unless the Issuer defaults in making such redemption payment or the
Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the ISIN and/or &#147;Common Code&#148; number, if any, printed on the Securities being redeemed; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN and/or &#147;Common
Code&#148; number, if any, listed in such notice or printed on the Securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) At the Issuer&#146;s written request,
the Trustee shall give the notice of redemption in the Issuer&#146;s name and at the Issuer&#146;s expense. In such event, the Issuer shall provide the Trustee with the information required by this Section at least five Business Days prior to the
date such notice is to be provided to Holders and such notice may not be canceled. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Notices may be given by delivery of the
relevant notices to Euroclear or Clearstream for communication to entitled account holders in substitution for the aforesaid mailing. So long as any Securities are listed on the Official List of the Luxembourg Stock Exchange and admitted for trading
on the Euro MTF Market and the rules of the Luxembourg Stock Exchange so require, any such notice to the Holders of the relevant Securities shall also be published in a newspaper having a general circulation in the Grand Duchy of Luxembourg (which
is expected to be the <I>Luxemburger Wort</I>) or, to the extent and in the manner permitted by such rules, posted on the official website of the Luxembourg Stock Exchange (www.bourse.lu) and, in connection with any redemption, the Issuer will
notify the Luxembourg Stock Exchange of any change in the principal amount of Securities outstanding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.06 <U>Effect of Notice of
Redemption</U>. Once notice of redemption is mailed in accordance with Section&nbsp;3.05, Securities called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, except as provided in
paragraph 5 of the Securities. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price stated in the notice, plus accrued interest, to, but not including, the redemption date; <I>provided</I>, <I>however</I>, that
if the redemption date is after a regular record date and on or prior to the interest payment date, the accrued interest shall be payable to the Holder of the redeemed Securities registered on the relevant record date. Failure to give notice or any
defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.07 <U>Deposit of Redemption
Price</U>. With respect to any Securities, prior to 10:00 a.m., London time, on the redemption date, the Issuer shall deposit with the Paying Agent (or, if the Issuer or a Wholly Owned Subsidiary is the Paying Agent, shall segregate and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
hold in trust) money sufficient to pay the redemption price of and accrued interest on all Securities or portions thereof to be redeemed on that date other than Securities or portions of
Securities called for redemption that have been delivered by the Issuer to the Trustee for cancellation. On and after the redemption date, interest shall cease to accrue on Securities or portions thereof called for redemption so long as the Issuer
has deposited with the Paying Agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, unless the Paying Agent is prohibited from making such payment pursuant to the terms of this Indenture.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.08 <U>Securities Redeemed in Part</U>. Upon surrender of a Security that is redeemed in part, the Issuer shall execute and the
Authenticating Agent shall, upon receipt of a Written Order, authenticate for the Holder (at the Issuer&#146;s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 4 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COVENANTS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.01 <U>Payment of Securities</U>. The Issuer shall pay the principal of and interest on the Securities on the dates and in
the manner provided in the Securities and in this Indenture. The Issuer shall no later than two Business Days prior to the date on which such payment is due, send to the Paying Agent an irrevocable payment instruction. An installment of principal of
or interest shall be considered paid on the date due if on such date the Trustee or the Paying Agent holds as of 10:00 a.m. London time money sufficient to pay all principal and interest then due and the Trustee or the Paying Agent, as the case may
be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture; however, no Paying Agent shall be obligated to make such payment to the Holders until such time as it has received the funds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue
installments of interest at the same rate borne by the Securities to the extent lawful. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.02 <U>Reports and Other
Information</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) So long as any Securities are outstanding and whether or not the Issuer is subject to
Section&nbsp;13(a) or 15(d) of the Exchange Act, the Issuer shall furnish to the Trustee: (i)&nbsp;within 65 days after the end of each of the first three fiscal quarters in each fiscal year, quarterly reports containing unaudited financial
statements (including a balance sheet and statement of income, changes in stockholders&#146; equity and cash flow) for and as of the end of such fiscal quarter and year to date period (with comparable financial statements for the corresponding
fiscal quarter and year to date period of the immediately preceding fiscal year); (ii)&nbsp;within 120 days after the end of each fiscal year, an annual report that includes all information that would be required to be filed with the SEC on Form
20-F (or any successor form); and (iii)&nbsp;at or prior to such times as would be required to be filed or furnished to the SEC as a &#147;foreign private issuer&#148; subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, all such other
reports and information that the Issuer would have been required to file or furnish pursuant thereto; <I>provided</I>, <I>however</I>, that to the extent that the Issuer ceases to qualify as a &#147;foreign private issuer&#148;
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
within the meaning of the Exchange Act, whether or not the Issuer is then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, the Issuer shall either file or furnish with the SEC (as a
&#147;voluntary filer&#148; if the Issuer is not then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act) or furnish to the Trustee, so long as any Securities are outstanding, within 30 days of the respective dates on which the Issuer would
be required to file such documents with the SEC if it was required to file such documents under the Exchange Act, all reports and other information that would be required to be filed with (or furnished to) the SEC pursuant to Section&nbsp;13(a) or
15(d) of the Exchange Act as, in the Issuer&#146;s sole discretion, either a &#147;foreign private issuer&#148; or a U.S. domestic registrant. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In addition, if required by the rules and regulations of the SEC, the Issuer shall electronically file or furnish, as the
case may be, a copy of all such information and reports with the SEC for public availability within the time periods specified above. In addition, for so long as any Securities remain outstanding, the Issuer shall furnish to the Holders and
prospective investors identified by a Holder, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding the foregoing, the Issuer shall be deemed to have furnished such reports referred to in the first paragraph
of this Section&nbsp;4.02 to the Trustee and the Holders of Securities if the Issuer has filed or furnished such reports with the SEC and such reports are publicly available on the SEC&#146;s website; provided, however, that the Trustee shall have
no obligation whatsoever to determine whether or not such information, documents or reports have been so filed or furnished. Delivery of such reports, information and documents to the Trustee pursuant to this covenant is for informational purposes
only and the Trustee&#146;s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer&#146;s compliance with any of its covenants under this
Indenture (as to which the Trustee is entitled to rely exclusively on Officer&#146;s Certificates). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) So long as any
Securities are outstanding, the Issuer shall also: (1)&nbsp;not later than 10 Business Days after furnishing to the Trustee the annual and quarterly reports required by clauses (i)&nbsp;and (ii)&nbsp;of Section&nbsp;4.02(a), hold a publicly
accessible conference call to discuss such reports and the results of operations for the relevant reporting period (including a question and answer portion of the call); and (2)&nbsp;issue a press release to an internationally recognized wire
service no fewer than three Business Days prior to the date of the conference call required by the foregoing clause (1)&nbsp;of this paragraph, announcing the time and date of such conference call and either including all information necessary to
access the call or directing Holders of the Securities, prospective investors, broker dealers and securities analysts to contact the appropriate person at the Issuer to obtain such information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At any time that any of the Issuer&#146;s Subsidiaries that are Significant Subsidiaries are Unrestricted Subsidiaries, then the quarterly and annual
financial information required by the first paragraph of this Section&nbsp;4.02 shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto or in the &#147;Management&#146;s Discussion
and Analysis of Financial Condition and Results of Operations,&#148; of the financial condition and results of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
operations of the Issuer and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Issuer, <I>provided</I> that the
Issuer will not be required to provide such separate information to the extent such Unrestricted Subsidiaries are the subject of a confidential filing of a registration statement with the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything herein to the contrary, the Issuer will not be deemed to have failed to comply with any of its agreements pursuant to
this Section&nbsp;4.02 for purposes of Section&nbsp;6.01(d) until 30 days after the date any report hereunder is required to be filed with the SEC (or otherwise made available to Holders or the Trustee) pursuant to this Section&nbsp;4.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event that the rules and regulations of the SEC permit the Issuer or any direct or indirect parent of the Issuer to report at such
parent entity&#146;s level on a consolidated basis, the Issuer may satisfy its obligations under this Section&nbsp;4.02 by furnishing financial information and reports relating to such parent; provided that the same is accompanied by consolidating
information that explains in reasonable detail the differences between the information relating to such direct or indirect parent and any of its Subsidiaries other than the Issuer and its Subsidiaries, on the one hand, and the information relating
to the Issuer, the Guarantors and the other Subsidiaries of the Issuer on a stand-alone basis, on the other hand. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.03
<U>Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</U>. (a)&nbsp;(i)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any
Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii)&nbsp;the Issuer shall not permit any of its Restricted Subsidiaries (other than a Guarantor) to issue any shares of Preferred Stock;
<I>provided</I>,<I> however</I>, that the Issuer and any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred Stock, in each
case if the Fixed Charge Coverage Ratio of the Issuer for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or
such Disqualified Stock or Preferred Stock is issued would have been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been Incurred, or the
Disqualified Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period; <I>provided</I>,<I> however</I>, that Indebtedness (including Acquired
Indebtedness), Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, by all Subsidiaries other than Guarantors pursuant to this paragraph may not , at the time Incurred, exceed the greater of
(i)&nbsp;&#128;125.0&nbsp;million and (ii)&nbsp;7.0% of Total Assets at such time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The limitations set forth in
Section&nbsp;4.03(a) shall not apply to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Incurrence by Constellium Holdco II B.V. or any Guarantor organized under
the laws of the United States of Indebtedness under the ABL Facility, in an aggregate principal amount that at the time of incurrence does not exceed the greater of (i)&nbsp;$100.0 million and (ii)&nbsp;the then applicable Borrowing Base, plus the
amount necessary to pay any fees and expenses, including premiums, related in connection with any refinancing, refunding, extension, renewal or replacement of Indebtedness under the ABL Facility; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Incurrence by the Issuer or any Guarantor of (A)&nbsp;Indebtedness under
Credit Facilities in an aggregate principal amount that at the time of Incurrence does not exceed the greater of (a)&nbsp;&#128;600.0&nbsp;million plus the amount necessary to pay any fees and expenses, including premiums, in connection with any
refinancing, refunding, extension, renewal or replacement of Indebtedness incurred pursuant to this clause (b)(ii)(A)(a) and (b)&nbsp;an aggregate principal amount that does not cause the Consolidated Secured Net Debt Ratio of the Issuer to exceed
1.50 to 1.00 as of the time of Incurrence (<I>provided</I> that solely for the purpose of determining compliance with this covenant, any Indebtedness that is Incurred and outstanding or proposed to be Incurred pursuant to this clause (ii)&nbsp;(in
the case of unsecured Indebtedness, to the extent such unsecured Indebtedness has not been reclassified as being Incurred pursuant to another clause of this covenant in accordance with this Indenture), will be deemed to be Secured Indebtedness for
purposes of calculating the Consolidated Secured Net Debt Ratio) and (B)&nbsp;Indebtedness under Credit Facilities incurred to refinance, refund, extend, renew or replace Indebtedness Incurred and outstanding pursuant to clause (b)(ii)(A)(b);
provided, however that (x)&nbsp;any such Indebtedness that is Incurred pursuant to this clause (B)&nbsp;satisfies the requirements of sub-clauses (1)&nbsp;through (4)&nbsp;of clause (xv)&nbsp;of this Section&nbsp;4.03(b) and (y)&nbsp;if the
Indebtedness being refinanced thereby is unsecured, such Indebtedness that is Incurred pursuant to this clause (B)&nbsp;is also unsecured; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Incurrence by the Issuer and the Guarantors of Indebtedness represented by the Original Securities and the
Guarantees; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Indebtedness, Disqualified Stock or Preferred Stock existing and/or committed to on the Issue Date (other
than Indebtedness described in clauses (i), (ii)&nbsp;and (iii)&nbsp;of this Section&nbsp;4.03(b)), but including, for the avoidance of doubt, Indebtedness incurred on the Issue Date in respect of the Issuer&#146;s $400,000,000 5.750% Senior Notes
due 2024; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Indebtedness (including Capitalized Lease Obligations) Incurred by the Issuer or any of its Restricted
Subsidiaries, Disqualified Stock issued by the Issuer or any of its Restricted Subsidiaries and Preferred Stock issued by any Restricted Subsidiaries of the Issuer to finance (whether prior to or within 270 days after) the purchase, lease,
construction, repair, replacement or improvement of property (real or personal) (whether through the direct purchase of property or the Capital Stock of any Person owning such property); provided that the aggregate amount of Indebtedness,
Disqualified Stock and Preferred Stock Incurred pursuant to this clause (v)&nbsp;of this Section&nbsp;4.03(b), together with any Refinancing Indebtedness (as defined below) Incurred with respect to such Indebtedness pursuant to clause (xv)&nbsp;of
this Section&nbsp;4.03(b), shall not exceed the greater of (A)&nbsp;&#128;125.0&nbsp;million and (B)&nbsp;7.0% of Total Assets as of the date of any Incurrence pursuant to this clause (v); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Indebtedness Incurred by the Issuer or any of its Restricted Subsidiaries constituting reimbursement obligations with
respect to letters of credit and bank guarantees issued in the ordinary course of business, including </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
without limitation letters of credit in respect of workers&#146; compensation claims, health, disability or other benefits to employees or former employees or their families or property, casualty
or liability insurance or self-insurance, and letters of credit in connection with the maintenance of, or pursuant to the requirements of, environmental or other permits or licenses from governmental authorities, or other Indebtedness with respect
to reimbursement type obligations regarding workers&#146; compensation claims; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Indebtedness arising from agreements
of the Issuer or a Restricted Subsidiary providing for indemnification, adjustment of purchase price or similar obligations, in each case, Incurred in connection with an acquisition or disposition of any business, assets or a Subsidiary of the
Issuer in accordance with the terms of this Indenture, other than guarantees of Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) Indebtedness (other than Secured Indebtedness) of the Issuer to a Restricted Subsidiary; provided that, except in
respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, any such Indebtedness owed to a Restricted Subsidiary that is not a
Guarantor shall be subordinated in right of payment to the obligations of the Issuer under the Securities; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted
Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or another Restricted Subsidiary; provided that
any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary that holds such shares of Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other
subsequent transfer of any such shares of Preferred Stock (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of Preferred Stock; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) Indebtedness (other than Secured Indebtedness) of a Restricted Subsidiary to the Issuer or another Restricted Subsidiary;
provided that, except in respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, if a Guarantor incurs such Indebtedness to a
Restricted Subsidiary that is not a Guarantor, such Indebtedness shall be subordinated in right of payment to the Guarantee of such Guarantor; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which
results in any Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to
be an Incurrence of such Indebtedness; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) Hedging Obligations that are not incurred for speculative purposes and are
either: (A)&nbsp;for the purpose of fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (B)&nbsp;for the purpose of fixing or hedging currency exchange rate risk
with respect to any currency exchanges; (C)&nbsp;for the purpose of fixing or hedging commodity price risk with respect to any commodity purchases or sales or (D)&nbsp;for any combination of the foregoing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) obligations (including reimbursement obligations with respect to letters of credit and bank guarantees) in respect of
performance, bid, appeal and surety bonds and completion guarantees provided by the Issuer or any Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry practice; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary of the Issuer and Preferred Stock of any
Restricted Subsidiary of the Issuer not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified Stock
and Preferred Stock then outstanding and Incurred pursuant to this clause (xiii), does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and (B)&nbsp;5.5% of Total Assets at the time of Incurrence (it being understood that any Indebtedness
Incurred under this clause (xiii)&nbsp;shall cease to be deemed Incurred or outstanding for purposes of this clause (xiii)&nbsp;but shall be deemed Incurred for purposes of Section&nbsp;4.03(a) from and after the first date on which the Issuer, or
the Restricted Subsidiary, as the case may be, could have Incurred such Indebtedness under Section&nbsp;4.03(a) without reliance upon this clause (xiii)); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) any guarantee by (x)&nbsp;the Issuer or a Guarantor of Indebtedness or other obligations of the Issuer or any of its
Restricted Subsidiaries, or (y)&nbsp;Subsidiary that is not a Guarantor of Indebtedness or other obligations of another Subsidiary that is not a Guarantor, in each case so long as the Incurrence of such Indebtedness Incurred by the Issuer or such
Restricted Subsidiary is permitted under the terms of this Indenture; provided that if such Indebtedness is by its express terms subordinated in right of payment to the Securities or the Guarantee of such Restricted Subsidiary, as applicable, any
such guarantee of such Guarantor with respect to such Indebtedness shall be subordinated in right of payment to such Guarantor&#146;s Guarantee with respect to the Securities substantially to the same extent as such Indebtedness is subordinated to
the Securities or the Guarantee of such Restricted Subsidiary, as applicable; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the Incurrence by the Issuer or any of
its Restricted Subsidiaries of Indebtedness or Disqualified Stock or Preferred Stock of a Restricted Subsidiary of the Issuer which serves to refund, refinance or defease any Indebtedness Incurred or committed or Disqualified Stock or Preferred
Stock issued as </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
permitted under Section&nbsp;4.03(a) and clauses (iii), (iv), (v), this clause (xv), (xvi), (xx)&nbsp;and (xxi)&nbsp;of this Section&nbsp;4.03(b) or any Indebtedness, Disqualified Stock or
Preferred Stock Incurred to so refund, refinance or defease such Indebtedness, Disqualified Stock or Preferred Stock, including any Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including tender premiums), expenses,
defeasance costs and fees in connection therewith (subject to the following proviso, &#147;Refinancing Indebtedness&#148;); <I>provided</I>,<I> however</I>, that such Refinancing Indebtedness: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) has a Weighted Average Life to Maturity at the time such Refinancing Indebtedness is Incurred which is not less than the
shorter of (x)&nbsp;the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded, refinanced or defeased and (y)&nbsp;the Weighted Average Life to Maturity that would result if all
payments of principal on the Indebtedness, Disqualified Stock and Preferred Stock being refunded, refinanced or defeased that were due on or after the date that is one year following the maturity date of any Securities then outstanding were instead
due on such date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) has a Stated Maturity which is not earlier than the earlier of (x)&nbsp;the Stated Maturity of the
Indebtedness being refunded, refinanced or defeased or (y)&nbsp;91 days following the maturity date of the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to the extent such Refinancing Indebtedness refinances (a)&nbsp;Indebtedness subordinated to the Securities or the
Guarantee of such Restricted Subsidiary, as applicable, such Refinancing Indebtedness is subordinated to the Securities or the Guarantee of such Restricted Subsidiary, as applicable, or (b)&nbsp;Disqualified Stock or Preferred Stock, such
Refinancing Indebtedness is Disqualified Stock or Preferred Stock; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) is Incurred in an aggregate amount (or if issued
with original issue discount, an aggregate issue price) that is equal to or less than the aggregate amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced plus premium,
expenses, costs and fees Incurred in connection with such refinancing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) shall not include (x)&nbsp;Indebtedness of a
Restricted Subsidiary of the Issuer that is not a Guarantor that refinances Indebtedness of the Issuer or a Restricted Subsidiary that is a Guarantor, or (y)&nbsp;Indebtedness of the Issuer or a Restricted Subsidiary that refinances Indebtedness of
an Unrestricted Subsidiary; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the case of any Refinancing Indebtedness Incurred to refinance Indebtedness
outstanding under clause (v)&nbsp;of this Section&nbsp;4.03(b), shall be deemed to have been Incurred and to be outstanding under such clause (v)&nbsp;of this Section&nbsp;4.03(b), and not this clause (xv)&nbsp;for purposes of determining amounts
outstanding under such clause (v)&nbsp;of this Section&nbsp;4.03(b); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) Indebtedness, Disqualified Stock or Preferred Stock of (x)&nbsp;the Issuer
or any of its Restricted Subsidiaries Incurred to finance an acquisition or (y)&nbsp;Persons that are acquired by the Issuer or any of its Restricted Subsidiaries or merged or amalgamated with or into the Issuer or any of its Restricted Subsidiaries
in accordance with the terms of this Indenture; <I>provided</I>,<I> however</I>, that after giving effect to such acquisition, merger or amalgamation, either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) (A) the Issuer would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage
Ratio test set forth in the first sentence of Section&nbsp;4.03(a) or (B)&nbsp;the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such acquisition, merger, consolidation or amalgamation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) such Indebtedness, Disqualified Stock or Preferred Stock </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) is unsecured Subordinated Indebtedness with subordination terms no more favorable to the Holders thereof than
subordination terms that are customarily obtained in connection with &#147;high-yield&#148; senior subordinated note issuances at the time of Incurrence (<I>provided</I> that, in the case of any such Subordinated Indebtedness incurred by a Foreign
Subsidiary, such subordination terms will be customary for &#147;high-yield&#148; senior subordinated note issuances by issuers resident in the jurisdiction of formation or organization of such Foreign Subsidiary, including, without limitation,
provisions for the automatic release of guarantees upon the release of the Guarantees); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) is not Incurred while a
Default exists and no Default shall result therefrom; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) does not mature (and is not mandatorily redeemable in the
case of Disqualified Stock or Preferred Stock) and does not require any payment of principal prior to the final maturity of the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) Indebtedness Incurred under (A)&nbsp;the Factoring Facilities and (B)&nbsp;any other Qualified Receivables Financing;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar
instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; provided that such Indebtedness is extinguished within ten Business Days of its Incurrence; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) Indebtedness of the Issuer or any Restricted Subsidiary supported by a letter of credit or bank guarantee issued pursuant
to the Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) Indebtedness or Disqualified Stock of the Issuer or any Restricted
Subsidiary not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, together with the aggregate principal amount or liquidation preference of any Refinancing Indebtedness Incurred with respect to such
Indebtedness or Disqualified Stock pursuant to clause (xv)&nbsp;below, not exceeding at any time outstanding 100% of the net cash proceeds received by the Issuer and the Restricted Subsidiaries since immediately after the Issue Date from the issue
or sale of Equity Interests of the Issuer or any direct or indirect parent entity of the Issuer (which proceeds are contributed to the Issuer or a Restricted Subsidiary) or cash contributed to the capital of the Issuer (in each case other than
proceeds of Disqualified Stock or sales of Equity Interests to, or contributions received from, the Issuer or any of its Subsidiaries), as determined in accordance with clauses (B)&nbsp;and (C)&nbsp;of the definition of Cumulative Credit, to the
extent such net cash proceeds or cash have not been applied pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section&nbsp;4.04(b) of this Indenture or to make Permitted Investments
(other than Permitted Investments specified in clauses (1)&nbsp;and (3)&nbsp;of the definition thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxi)
Indebtedness of the Issuer or any Restricted Subsidiary consisting of (x)&nbsp;the financing of insurance premiums or (y)&nbsp;take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxii) Indebtedness arising as a result of implementing composite accounting or other cash pooling arrangements involving
solely the Issuer and the Restricted Subsidiaries or solely among Restricted Subsidiaries and entered into the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiii) Indebtedness issued by the Issuer or a Restricted Subsidiary to current or former officers, directors and employees
thereof or any direct or indirect parent thereof, or their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Issuer or any of its direct or indirect parent companies to the
extent permitted under Section&nbsp;4.04(b)(iv); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiv) Indebtedness of Restricted Subsidiaries which are not Guarantors;
<I>provided</I>,<I> however</I>, that the aggregate principal amount of Indebtedness Incurred under this clause (xxiv)&nbsp;does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and (B)&nbsp;5.5% of Total Assets at the time of Incurrence;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxv) Indebtedness incurred on behalf of, or representing guarantees of Indebtedness of, joint ventures of the Issuer or
any Restricted Subsidiary not in excess, at any one time outstanding, of the greater of (A)&nbsp;&#128;50.0&nbsp;million and (B)&nbsp;3.0% of Total Assets at the time that such Indebtedness is incurred; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxvi) Indebtedness representing deferred compensation or stock-based compensation to employees of the Issuer and the
Restricted Subsidiaries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.03, in the event that an item of
Indebtedness, Disqualified Stock or Preferred Stock meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i)&nbsp;through (xxvi)&nbsp;above or is entitled to be
Incurred pursuant to Section&nbsp;4.03(a), the Issuer shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness in any manner that complies with this Section&nbsp;4.03; provided that
all Indebtedness outstanding under the ABL Facility and the Revolving Credit Facility on the Issue Date will be deemed to have been Incurred on such date in reliance on clause (i)&nbsp;and clause (ii), respectively, of this Section&nbsp;4.03(b) and
the Issuer shall not be permitted to reclassify all or any portion of such Indebtedness. The Issuer will also be entitled to treat a portion of any Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under
Section&nbsp;4.03(a) and thereafter the remainder of such Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under this Section&nbsp;4.03(b). Accrual of interest, the accretion of accreted value, the payment of interest in
the form of additional Indebtedness with the same terms, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount or liquidation preference and increases
in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies shall not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section&nbsp;4.03.
Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of
Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section&nbsp;4.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.04 <U>Limitation on Restricted Payments</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries
to, directly or indirectly: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) declare or pay any dividend or make any distribution on account of the Issuer&#146;s or
any of its Restricted Subsidiaries&#146; Equity Interests, including any payment made in connection with any merger, amalgamation or consolidation involving the Issuer (other than (A)&nbsp;dividends or distributions by the Issuer payable solely in
Equity Interests (other than Disqualified Stock) of the Issuer; or (B)&nbsp;dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or series of securities
issued by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or
series of securities); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) purchase or otherwise acquire or retire for value any Equity Interests of the Issuer or any
direct or indirect parent of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) make any principal payment on, or redeem, repurchase, defease or otherwise
acquire or retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Issuer or any of its Restricted Subsidiaries (other than the payment, redemption, repurchase, defeasance,
acquisition or retirement of (A)&nbsp;Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance, acquisition or retirement and (B)&nbsp;Indebtedness permitted
under clauses (viii)&nbsp;and (x)&nbsp;of Section&nbsp;4.03(b)); or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) make any Restricted Investment </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(all such payments and other actions set forth in clauses (i)&nbsp;through (iv)&nbsp;above being collectively referred to as &#147;Restricted Payments&#148;),
unless, at the time of such Restricted Payment: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no Default shall have occurred and be continuing or would occur as a
consequence thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) immediately after giving effect to such transaction on a pro forma basis, the Issuer could Incur
$1.00 of additional Indebtedness under Section&nbsp;4.03(a); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) such Restricted Payment, together with the aggregate
amount of all other Restricted Payments made by the Issuer and its Restricted Subsidiaries after the Issue Date (and not returned or rescinded) (including Restricted Payments permitted by clauses (i)&nbsp;and (viii)(b) of Section&nbsp;4.04(b), but
excluding all other Restricted Payments permitted by Section&nbsp;4.04(b)), is less than an amount equal to the Cumulative Credit. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.04(a) shall not prohibit: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of
declaration such payment would have complied with the provisions of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) (A) the redemption, repurchase,
retirement or other acquisition of any Equity Interests (&#147;Retired Capital Stock&#148;) of the Issuer or any direct or indirect parent of the Issuer or Subordinated Indebtedness of the Issuer, any direct or indirect parent of the Issuer or any
Guarantor in exchange for, or out of the proceeds of, the substantially concurrent sale of, Equity Interests of the Issuer or any direct or indirect parent of the Issuer or contributions to the equity capital of the Issuer (other than any
Disqualified Stock or any Equity Interests sold to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) (collectively, including any such contributions, &#147;Refunding
Capital Stock&#148;); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the declaration and payment of dividends on the Retired Capital Stock out of the proceeds
of the substantially concurrent sale (other than to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) of Refunding Capital Stock; and if immediately prior to the
retirement of Retired Capital Stock, the declaration and payment of dividends thereon was permitted under Section&nbsp;4.04(b)(vi) and not made pursuant to this Section&nbsp;4.04(b)(ii)(B), the declaration and payment of dividends on the Refunding
Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent of the Issuer) in an aggregate amount per year no greater than
the aggregate amount of dividends per annum that were declarable and payable on such Retired Capital Stock immediately prior to such retirement; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the redemption, repurchase, defeasance or other acquisition or retirement
of Subordinated Indebtedness of the Issuer or any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale (or as promptly as practicable after giving any requisite notice to the holders of such Subordinated
Indebtedness) of, new Indebtedness of the Issuer or a Guarantor which is Incurred in accordance with Section&nbsp;4.03 so long as </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount (or
accreted value, if applicable), plus any accrued and unpaid interest of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired for value (plus the amount of any premium required to be paid under the terms of the
instrument governing the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired plus any tender premiums, defeasance costs or other fees and expenses incurred in connection therewith), </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) such Indebtedness is subordinated to the Securities or the related Guarantee, as the case may be, at least to the same
extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired or retired for value, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) such Indebtedness has a final scheduled maturity date equal to or later than the earlier of (x)&nbsp;the final scheduled
maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired or (y)&nbsp;91 days following the maturity date of the Securities, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) such Indebtedness has a Weighted Average Life to Maturity at the time Incurred which is not less than the shorter of
(x)&nbsp;the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired and (y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal
on the Indebtedness being so redeemed, repurchased, defeased, acquired or retired that were due on or after the date one year following the maturity date of any Securities then outstanding were instead due on such date one year following the
maturity date of such Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the repurchase, retirement or other acquisition (or dividends to any direct or
indirect parent of the Issuer to finance any such repurchase, retirement or other acquisition) for value of Equity Interests of the Issuer or any direct or indirect parent of the Issuer held by any future, present or former employee, director or
consultant of the Issuer or any direct or indirect parent of the Issuer or any Subsidiary of the Issuer pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement;
<I>provided</I>, <I>however</I>, that the aggregate amounts paid under this clause (iv)&nbsp;do not exceed &#128;15.0&nbsp;million in any calendar year (with unused amounts in any calendar year being permitted to be carried over for the two
succeeding calendar years); <I>provided</I>, <I>further</I>, <I>however</I>, that such amount in any calendar year may be increased by an amount not to exceed: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the cash proceeds received by the Issuer or any of its Restricted Subsidiaries from the sale of Equity Interests (other
than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to members of management, directors or consultants of the Issuer and its Restricted Subsidiaries or any direct or
indirect parent of the Issuer that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend shall not increase the amount available for Restricted
Payments under Section&nbsp;4.04(a)(3)); plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the cash proceeds of key man life insurance policies received by the Issuer
or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) or the Issuer&#146;s Restricted Subsidiaries after the Issue Date; less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the amount of any Restricted Payments previously made pursuant to Section&nbsp;4.04(b)(iv)(A) and
Section&nbsp;4.04(b)(iv)(B) </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>provided</I> that the Issuer may elect to apply all or any portion of the aggregate increase contemplated
by clauses (A)&nbsp;and (B)&nbsp;above in any calendar year; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the declaration and payment of dividends or distributions
to holders of any class or series of Disqualified Stock of the Issuer or any of its Restricted Subsidiaries issued or incurred in accordance with Section&nbsp;4.03; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) (a) the declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred
Stock (other than Disqualified Stock) issued after the Issue Date, (b)&nbsp;a Restricted Payment to any direct or indirect parent of the Issuer, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of
Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of the Issuer issued after the Issue Date and (c)&nbsp;the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess
of the dividends declarable and payable thereon pursuant to Section&nbsp;4.04(b)(ii); <I>provided</I>,<I> </I><I>however</I>, that, (x)&nbsp;for the most recently ended four full fiscal quarters for which internal financial statements are available
immediately preceding the date of issuance of such Designated Preferred Stock or Refunding Capital Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a pro forma basis, the Issuer would have had a Fixed
Charge Coverage Ratio of at least 2.00 to 1.00 and (y)&nbsp;the aggregate amount of dividends declared and paid pursuant to subclauses (a)&nbsp;and (b)&nbsp;of this clause (vi)&nbsp;does not exceed the net cash proceeds actually received by the
Issuer from any such sale of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii)
Investments in Unrestricted Subsidiaries and joint ventures having an aggregate Fair Market Value, taken together with all other Investments made </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
pursuant to this clause (vii)&nbsp;that are at that time outstanding, not to exceed the greater of (a)&nbsp;&#128;50.0&nbsp;million and (b)&nbsp;2.5% of Total Assets at the time of such
Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided that the amount of Investments deemed to have been made pursuant to this clause
(vii)&nbsp;at any time shall be reduced by the Fair Market Value of the proceeds received by the Issuer and/or the Restricted Subsidiaries from the subsequent sale, disposition or other transfer of such Investments without giving effect to
subsequent changes in value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the payment of dividends on the Issuer&#146;s common stock in an aggregate amount per
calendar year not to exceed the sum of (a)&nbsp;&#128;20.0&nbsp;million, plus (b)&nbsp;6.0% of the net proceeds received after the Issue Date (including, without limitation, contributions to the Issuer with the proceeds of sales of common stock of
any direct or indirect parent) by the Issuer from any public offering of common stock of the Issuer or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) Restricted Payments that are made with Excluded Contributions; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) (a) Restricted Payments pursuant to clauses (i), (ii)&nbsp;and (iii)&nbsp;of Section&nbsp;4.04(a) hereof after the Issue
Date and (b)&nbsp;Restricted Payments pursuant to clause (iv)&nbsp;of Section&nbsp;4.04(a) hereof at any time outstanding in an aggregate amount pursuant to this clause (x)&nbsp;not to exceed &#128;100.0 million; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the distribution, as a dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Issuer or a
Restricted Subsidiary of the Issuer by, Unrestricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) the payment of dividends or other distributions
to any direct or indirect parent of the Issuer in amounts required for such parent to pay federal, state or local income taxes (or other applicable political subdivision, as the case may be) imposed directly on such parent to the extent such income
taxes are attributable to the income of the Issuer and its Subsidiaries (including, without limitation, by virtue of such parent being the common parent of a consolidated or combined tax group of which the Issuer and/or its Subsidiaries are
members); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity
Interests represent a portion of the exercise price of such options or warrants; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) purchases of receivables pursuant
to a Receivables Repurchase Obligation in connection with a Qualified Receivables Financing and the payment or distribution of Receivables Fees; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) payments of cash, or dividends, distributions or advances by the Issuer or any Restricted Subsidiary to allow the payment
of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital Stock of any such Person; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) the repurchase, redemption or other acquisition or retirement for value of
any Subordinated Indebtedness pursuant to the provisions similar to those described under Sections 4.06 and 4.08; provided that all Securities tendered in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been
repurchased, redeemed or acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) payments or distributions to dissenting stockholders pursuant to
applicable law or in connection with a consolidation, amalgamation, merger or transfer of all or substantially all of the assets of the Issuer and its Restricted Subsidiaries, taken as a whole, that complies with Article 5 of this Indenture;
provided that as a result of such consolidation, amalgamation, merger or transfer of assets, the Issuer shall have made a Change of Control Offer (if required by this Indenture) and that all Securities tendered in connection with such Change of
Control Offer have been repurchased, redeemed or acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) other Restricted Payments; provided that
Restricted Payments may only be made pursuant to this clause (xviii)&nbsp;at such time as the Consolidated Net Debt Ratio of the Issuer and its Restricted Subsidiaries, on a pro forma basis after giving effect to such Restricted Payments, is less
than 2.00 to 1.00; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) the payment of any Restricted Payment, if applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) in amounts required for any direct or indirect parent of the Issuer, if applicable, (i)&nbsp;to pay fees and expenses
(including franchise or similar taxes) required to maintain its corporate existence and its status as a public company, customary salary, bonus and other benefits payable to, and indemnities provided on behalf of, officers and employees of any
direct or indirect parent of the Issuer, if applicable, and general corporate overhead expenses of any direct or indirect parent of the Issuer, if applicable, in each case to the extent such fees and expenses are attributable to the ownership or
operation of the Issuer, if applicable, and its Subsidiaries and (ii)&nbsp;to pay tax liabilities incurred as a result of transactions that occurred prior to the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) in amounts required for any direct or indirect parent of the Issuer, if applicable, to pay interest and/or principal on
Indebtedness the proceeds of which have been contributed to the Issuer or any of its Restricted Subsidiaries and that has been guaranteed by, or is otherwise considered Indebtedness of, the Issuer Incurred in accordance with Section&nbsp;4.03; and
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in amounts required for any direct or indirect parent of the Issuer to pay fees and expenses, other than to
Affiliates of the Issuer, related to any unsuccessful equity or debt offering of such parent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that at the time of, and
after giving effect to, any Restricted Payment permitted under clauses (vi), (vii), (x), (xi)&nbsp;and (xviii)&nbsp;of this Section&nbsp;4.04(b), no Default shall have occurred and be continuing or would occur as a consequence thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The amount of any Restricted Payment (other than cash) will be the Fair Market Value on the date of the Restricted Payment
of the asset(s) or securities proposed </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
to be transferred or issued by the Issuer or such Subsidiary, as the case may be, pursuant to the Restricted Payment. Except as otherwise provided herein, the Fair Market Value of any assets or
securities that are required to be valued by this Section&nbsp;4.04 will be determined in good faith by the Issuer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) As
of the Issue Date, all of the Issuer&#146;s Subsidiaries shall be Restricted Subsidiaries other than Quiver Ventures, LLC and Constellium Engley (Changchung) Automotive Structures Co Ltd. The Issuer shall not permit any Unrestricted Subsidiary to
become a Restricted Subsidiary except pursuant to the definition of &#147;Unrestricted Subsidiary.&#148; For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Issuer and its
Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of &#147;Investments.&#148; Such designation
shall only be permitted if a Restricted Payment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.05 <U>Dividend and Other Payment Restrictions Affecting Subsidiaries</U>. The Issuer shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to pay dividends or make any other
distributions to the Issuer or any of its Restricted Subsidiaries (a)&nbsp;on its Capital Stock, or (b)&nbsp;with respect to any other interest or participation in, or measured by, its profits; except in each case for such encumbrances or
restrictions existing under or by reason of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) contractual encumbrances or restrictions in effect on the Issue Date,
including pursuant to the Credit Facilities and the related documentation in effect on the Issue Date and in each case, any similar contractual encumbrances effected by any amendments, modifications, restatements, renewals, supplements, refundings,
replacements or refinancings of such agreements or instruments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) this Indenture, the Securities and the Guarantees and
the Issuer&#146;s $400,000,000 5.750% Senior Notes due 2024 and the indenture relating thereto and the guarantees in respect thereof (in each case, as in effect on the Issue Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) applicable law or any applicable rule, regulation or order; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any agreement or other instrument of a Person acquired by the Issuer or any Restricted Subsidiary which was in existence at
the time of such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or credit support utilized to consummate such acquisition), which encumbrance or restriction is not applicable to any Person, or the
properties or assets of any Person, other than the Person or its Subsidiaries, or the property or assets of the Person or its Subsidiaries, so acquired; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) contracts or agreements for the sale of assets, including any restriction with respect to a Restricted Subsidiary imposed
pursuant to an agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Secured Indebtedness otherwise permitted to be Incurred pursuant to Sections
4.03 and 4.12 that limit the right of the debtor to dispose of the assets securing such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) restrictions on
cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) customary provisions in joint venture agreements and other similar agreements entered into in the ordinary course of
business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) purchase money obligations and Capitalized Lease Obligations for property acquired or leased in the ordinary
course of business that impose restrictions on the property so acquired or leased; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) customary provisions contained in
leases, licenses and other similar agreements entered into in the ordinary course of business that impose restrictions on the property subject to such lease; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any encumbrance or restriction effected in connection with (A)&nbsp;a Factoring Facility (provided that such encumbrance or
restriction (i)&nbsp;exists on the date hereof or (ii)&nbsp;is in the good faith determination of the Issuer (x)&nbsp;necessary or advisable to effect such Receivables Financing and applies only to the relevant Subsidiaries to which such Receivables
Financing is made available or (y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring Facilities in effect on the date hereof) or (B)&nbsp;a Qualified Receivables Financing; provided, however, that in the
case of this clause (B), such encumbrances or restrictions (i)&nbsp;apply only to a Receivables Subsidiary or (ii)&nbsp;are in the good faith determination of the Issuer (x)&nbsp;necessary or advisable to effect such Qualified Receivables Financing
and applicable only to the relevant Subsidiaries to which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring Facilities in effect on the date hereof;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) (A) other Indebtedness or Disqualified Stock of the Issuer or any of its Restricted Subsidiaries, or
(B)&nbsp;Preferred Stock of any Restricted Subsidiary, in each case that is Incurred subsequent to the Issue Date pursuant to Section&nbsp;4.03; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) any Restricted Investment not prohibited by Section&nbsp;4.04 and any Permitted Investment; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any encumbrances or restrictions of the type referred to in clauses (a)&nbsp;and (b)&nbsp;above imposed by any amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (1)&nbsp;through (13)&nbsp;above; <I>provided</I> that such amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Issuer, no more restrictive with respect to such encumbrances and other restrictions than those contained
in the encumbrances or other restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.05, (i)&nbsp;the priority of any
Preferred Stock in receiving dividends or liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii)&nbsp;the
subordination of loans or advances made to the Issuer or a Restricted Subsidiary of the Issuer to other Indebtedness Incurred by the Issuer or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.06 <U>Asset Sales</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make
an Asset Sale, unless (x)&nbsp;the Issuer or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined in good faith by the Issuer) of the
assets sold or otherwise disposed of, and (y)&nbsp;at least 75% of the consideration therefor received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any liabilities (as shown on the Issuer&#146;s or such Restricted Subsidiary&#146;s most recent balance sheet or in the
notes thereto) of the Issuer or any Restricted Subsidiary of the Issuer (other than liabilities that are by their terms subordinated to the Securities or any Guarantee) that are assumed by the transferee of any such assets, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) any notes or other obligations or other securities or assets received by the Issuer or such Restricted Subsidiary of the
Issuer from such transferee that are converted by the Issuer or such Restricted Subsidiary of the Issuer into cash within 180 days of the receipt thereof (to the extent of the cash received), and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) any Designated Non-cash Consideration received by the Issuer or any of its Restricted Subsidiaries in such Asset Sale
having an aggregate Fair Market Value (as determined in good faith by the Issuer), taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii)&nbsp;that is at that time outstanding, not to exceed the
greater of 2.0% of Total Assets and &#128;35.0&nbsp;million at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and
without giving effect to subsequent changes in value) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">shall be deemed to be Cash Equivalents for the purposes of this Section&nbsp;4.06(a). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 15 months after the Issuer&#146;s or any Restricted Subsidiary of the Issuer&#146;s receipt of the Net Proceeds of
any Asset Sale, the Issuer or such Restricted Subsidiary of the Issuer may apply the Net Proceeds from such Asset Sale, at its option: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to repay Indebtedness constituting Credit Facilities or Secured Indebtedness (and, if the Indebtedness repaid is revolving
credit Indebtedness, to correspondingly reduce commitments with respect thereto), Pari Passu Indebtedness (<I>provided</I> that if the Issuer or any Guarantor shall so reduce Obligations under Pari Passu Indebtedness (other than Credit Facilities or
Secured Indebtedness), the Issuer shall make an offer to all Holders of the Securities to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
equally and ratably reduce a pro rata principal amount of the Securities through a repurchase offer (in accordance with the procedures set forth below for an Asset Sale Offer) at a purchase price
equal to or greater than (in the Issuer&#146;s sole discretion) 100% of the principal amount thereof, plus accrued and unpaid interest, if any) or Indebtedness of a Restricted Subsidiary that is not a Guarantor, in each case other than Indebtedness
owed to the Issuer or an Affiliate of the Issuer, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to make an investment in any one or more businesses (provided that
if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), assets, or property or capital expenditures, in each case used or useful in a
Similar Business, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to make an investment in any one or more businesses (provided that if such investment is in the
form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), properties or assets that replace the properties and assets that are the subject of such Asset Sale. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the case of Sections 4.06(b)(ii) and (iii), a binding commitment shall be treated as a permitted application of the Net Proceeds from the
date of such commitment; provided that in the event such binding commitment is later canceled or terminated for any reason before such Net Proceeds are so applied, the Issuer or such Restricted Subsidiary enters into another binding commitment
within nine months of such cancellation or termination of the prior binding commitment; <I>provided</I>, <I>further</I> that the Issuer or such Restricted Subsidiary may only enter into such a commitment under the foregoing provision one time with
respect to each Asset Sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pending the final application of any such Net Proceeds, the Issuer or such Restricted Subsidiary of the
Issuer may temporarily reduce Indebtedness under a revolving credit facility, if any, or otherwise invest such Net Proceeds in any manner not otherwise prohibited by this Indenture. Any Net Proceeds from any Asset Sale that are not applied as
provided and within the time period set forth in the first sentence of this Section&nbsp;4.06(b) (it being understood that any portion of such Net Proceeds used to make an offer to purchase Securities, as described in clause (i)&nbsp;of this
Section&nbsp;4.06(b), shall be deemed to have been invested per Section&nbsp;4.06(b), whether or not such offer is accepted) shall be deemed to constitute &#147;Excess Proceeds.&#148; When the aggregate amount of Excess Proceeds exceeds
&#128;15.0&nbsp;million, the Issuer shall make an offer to all Holders of Securities (and, at the option of the Issuer, to holders of any Pari Passu Indebtedness) (an &#147;Asset Sale Offer&#148;) to purchase the maximum aggregate principal amount
of Securities (and such Pari Passu Indebtedness), that is at least &#128;100,000 and an integral multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the
principal amount thereof (or, in the event such Pari Passu Indebtedness was issued with significant original issue discount, 100% of the accreted value thereof), plus accrued and unpaid interest, if any (or, in respect of such Pari Passu
Indebtedness, such lesser price, if any, as may be provided for by the terms of such Pari Passu Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in this Indenture. The Issuer shall commence
an Asset Sale Offer with respect to Excess Proceeds within 10 Business Days after the date that Excess Proceeds exceeds &#128;15.0&nbsp;million by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
electronically delivering or mailing the notice required pursuant to the terms of Section&nbsp;4.06(f), with a copy to the Trustee and Paying Agent. To the extent that the aggregate amount of
Securities (and such Pari Passu Indebtedness) tendered pursuant to an Asset Sale Offer is less than the Excess Proceeds, the Issuer may use any remaining Excess Proceeds for general corporate purposes. If the aggregate principal amount of Securities
(and such Pari Passu Indebtedness) surrendered by Holders of such Securities (and holders of such Pari Passu Indebtedness) thereof exceeds the amount of Excess Proceeds, the Registrar shall select the Securities to be purchased in the manner
described in Section&nbsp;4.06(e). Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds shall be reset at zero. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) To the extent that the provisions of any securities laws or regulations conflict with the provisions of this Indenture, the
Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the
Issuer shall deliver to the Trustee an Officer&#146;s Certificate as to (i)&nbsp;the amount of the Excess Proceeds, (ii)&nbsp;the allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset Sale Offer is being made and
(iii)&nbsp;the compliance of such allocation with the provisions of Section&nbsp;4.06(b). On such date, the Issuer shall also irrevocably deposit with the Trustee or with a paying agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is
acting as the Paying Agent, segregate and hold in trust) an amount equal to the Excess Proceeds to be invested in Cash Equivalents, as directed in writing by the Issuer, and to be held for payment in accordance with the provisions of this
Section&nbsp;4.06. Upon the expiration of the period for which the Asset Sale Offer remains open (the &#147;Offer Period&#148;), the Issuer shall deliver to the Trustee for cancellation the Securities or portions thereof that have been properly
tendered to and are to be accepted by the Issuer. The Trustee (or the Paying Agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the amount of the purchase price. In the event that the
Excess Proceeds delivered by the Issuer to the Trustee are greater than the purchase price of the Securities tendered, the Trustee shall deliver the excess to the Issuer immediately after the expiration of the Offer Period for application in
accordance with Section&nbsp;4.06. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Holders electing to have a Security purchased shall be required to surrender the
Security, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if the Trustee or the Issuer
receives not later than one Business Day prior to the purchase date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered by the Holder for purchase and a statement that
such Holder is withdrawing his election to have such Security purchased. If at the end of the Offer Period more Securities (and such Pari Passu Indebtedness) are tendered pursuant to an Asset Sale Offer than the Issuer is required to purchase,
selection of such Securities for purchase shall be made by the Registrar pro rata, by lot or such other manner in the case of Global Securities, as may be required by the applicable procedures of Euroclear and/or Clearstream; provided that no
Securities of &#128;100,000 or less shall be purchased in part. Selection of such Pari Passu Indebtedness shall be made pursuant to the terms of such Pari Passu Indebtedness. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notices of an Asset Sale Offer shall be electronically delivered or mailed by
first class mail, postage prepaid by the Issuer, at least 30 but not more than 60 days before the purchase date to each Holder of Securities at such Holder&#146;s registered address. If any Security is to be purchased in part only, any notice of
purchase that relates to such Security shall state the portion of the principal amount thereof that has been or is to be purchased. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The provisions under this Indenture relating to the Issuer&#146;s obligation to make an Asset Sale Offer may be waived or
modified with the written consent of Holders of a majority in principal amount of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.07 <U>Transactions with
Affiliates</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase
any property or assets from, or enter into or make or amend any transaction or series of transactions, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an
&#147;Affiliate Transaction&#148;) involving aggregate consideration in excess of &#128;10.0&nbsp;million, unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i)
such Affiliate Transaction is on terms that are not materially less favorable to the Issuer or the relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with
an unrelated Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving
aggregate consideration in excess of &#128;25.0&nbsp;million (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of inventory), the Issuer delivers to the Trustee an Officer&#146;s
Certificate certifying that such Affiliate Transaction complies with clause (i)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) with respect to any
Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of &#128;50.0&nbsp;million (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the
sale of inventory), the Issuer delivers to the Trustee a resolution adopted in good faith by the majority of the Board of Directors of the Issuer, approving such Affiliate Transaction and set forth in an Officer&#146;s Certificate certifying that
such Affiliate Transaction complies with clause (i)&nbsp;above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.07(a) shall not apply
to the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) transactions between or among the Issuer and/or any of its Restricted Subsidiaries (or an entity
that becomes a Restricted Subsidiary as a result of such transaction) and any merger, consolidation or amalgamation of the Issuer and any direct parent of the Issuer; provided that at the time of such
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
merger, consolidation or amalgamation such parent shall have no material liabilities and no material assets other than cash, Cash Equivalents and the Capital Stock of the Issuer and such merger,
consolidation or amalgamation is otherwise in compliance with the terms of this Indenture and effected for a bona fide business purpose; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Restricted Payments permitted by Section&nbsp;4.04 and Permitted Investments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the payment of reasonable and customary fees and reimbursement of expenses paid to, and indemnity provided on behalf of,
officers, directors, employees or consultants of the Issuer or any Restricted Subsidiary or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) transactions in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivered to the Trustee a
letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or meets the requirements of clause (i)&nbsp;of Section&nbsp;4.07(a); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) payments or loans (or cancellation of loans) to directors, officers, employees or consultants which are approved by a
majority of the Board of Directors of the Issuer in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) any agreement as in effect as of the Issue Date or
any amendment thereto (so long as any such agreement together with all amendments thereto, taken as a whole, is not more disadvantageous to the Holders of the Securities in any material respect than the original agreement as in effect on the Issue
Date) or any transaction contemplated thereby as determined in good faith by the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the existence of, or the
performance by the Issuer or any of its Restricted Subsidiaries of its obligations under the terms of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the
Issue Date and any transaction, agreement or arrangement in effect on the Issue Date and described in the Offering Memorandum (or the documents incorporated by reference therein) and, in each case, any amendment thereto or similar transactions,
agreements or arrangements which it may enter into thereafter; <I>provided</I>, <I>however</I>, that the existence of, or the performance by the Issuer or any of its Restricted Subsidiaries of its obligations under, any future amendment to any such
existing transaction, agreement or arrangement or under any similar transaction, agreement or arrangement entered into after the Issue Date shall only be permitted by this clause (vii)&nbsp;to the extent that the terms of any such existing
transaction, agreement or arrangement together with all amendments thereto, taken as a whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to the Holders of the Securities in any material respect than the
original transaction, agreement or arrangement as in effect on the Issue Date; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) (A) transactions with customers, clients, suppliers or purchasers or
sellers of goods or services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture, which are fair to the Issuer
and its Restricted Subsidiaries in the reasonable determination of the Issuer, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party or (B)&nbsp;transactions with joint ventures or
Unrestricted Subsidiaries entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) any transaction effected as part of a
Factoring Facility or a Qualified Receivables Financing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) the issuance of Equity Interests (other than Disqualified
Stock) of the Issuer to any Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the issuances of securities or other payments, loans (or cancellation of loans),
awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Issuer or any direct or
indirect parent of the Issuer or of a Restricted Subsidiary of the Issuer, as appropriate, in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii)
transactions permitted by, and complying with, Sections 4.06 and/or 5.01; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) transactions between the Issuer or any of
its Restricted Subsidiaries and any Person, a director of which is also a director of the Issuer; <I>provided</I>, <I>however</I>, that such director abstains from voting as a director of the Issuer or such direct or indirect parent, as the case may
be, on any matter involving such other Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) pledges of Equity Interests of Unrestricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the provision to Unrestricted Subsidiaries of cash management, accounting and other overhead services in the ordinary
course of business undertaken in good faith and not for the purpose of circumventing any covenant set forth in this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) any employment agreements entered into by the Issuer or any of its Restricted Subsidiaries in the ordinary course of
business, and any termination of employment agreements and payments in connection therewith at the net present value of future payments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) intercompany transactions undertaken in good faith for the purpose of improving the consolidated tax efficiency of the
Issuer and its Subsidiaries and not for the purpose of circumventing any covenant set forth in this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) the
entering into of any tax sharing agreement or arrangement providing for, and the making of, any payments permitted by Section&nbsp;4.04(b)(xii); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) (A) payments made to the Issuer or any of its Restricted Subsidiaries by
Quiver Ventures, LLC in connection with tax sharing arrangements and (B)&nbsp;any repayments or reimbursements by the Issuer or any of its Restricted Subsidiaries to Quiver Ventures, LLC to the extent that amounts paid thereby pursuant to clause
(A)&nbsp;are in excess of the ultimate tax liability attributable thereto, in each case consistent with past practice of the Issuer and its Restricted Subsidiaries for other consolidated groups; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) any agreements or arrangements between a third party and an Affiliate of the Issuer that are acquired or assumed by the
Issuer or any Restricted Subsidiary in connection with an acquisition or merger of such third party (or assets of such third party) by or with the Issuer or any Restricted Subsidiary; provided that (A)&nbsp;such acquisition or merger is permitted
under this Indenture and (B)&nbsp;such agreements or arrangements are not entered into in contemplation of such acquisition or merger or otherwise for the purpose of avoiding the restrictions imposed by this section. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.08 <U>Change of Control</U>. (a)&nbsp;Upon a Change of Control, each Holder shall have the right to require the Issuer to repurchase
all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date), in accordance with the terms contemplated in this Section&nbsp;4.08; <I>provided</I>, <I>however</I>, that notwithstanding the occurrence of a Change of Control,
the Issuer shall not be obligated to purchase any Securities pursuant to this Section&nbsp;4.08 in the event that it has exercised its right to redeem such Securities in accordance with Article 3 of this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 30 days following any Change of Control, except to the extent that the Issuer has exercised its right to redeem the
Securities in accordance with Article 3 of this Indenture, the Issuer shall electronically deliver or mail a notice (a &#147;Change of Control Offer&#148;) to each Holder with a copy to the Trustee and Paying Agent stating: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) that a Change of Control has occurred and that such Holder has the right to require the Issuer to repurchase such
Holder&#146;s Securities at a repurchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the Holders of record on a record date to receive
interest on the relevant interest payment date); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the circumstances and relevant facts and financial information
regarding such Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the repurchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is electronically delivered or mailed, except that such notice may provide that, if the Change of Control does not occur on the repurchase date so designated, then the repurchase date may be delayed until such time as the
applicable Change of Control shall occur); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the instructions determined by the Issuer, consistent with this
Section&nbsp;4.08, that a Holder must follow in order to have its Securities purchased; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if such notice is
electronically delivered or mailed prior to the occurrence of a Change of Control pursuant to a definitive agreement for the Change of Control, that such offer is conditioned on the occurrence of such Change of Control. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Holders electing to have a Security purchased shall be required to surrender the Security, with an appropriate form duly
completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. The Holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day
prior to the purchase date a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered for purchase by the Holder and a statement that such Holder is withdrawing his election to
have such Security purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the purchase date, all Securities purchased by the Issuer under this Section&nbsp;4.08 shall be delivered to the Trustee
for cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest to the Holders entitled thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) For the avoidance of doubt, a Change of Control Offer may be made in advance of a Change of Control, and be conditional
upon such Change of Control, if a definitive agreement is in place in respect of the Change of Control at the time of making of the Change of Control Offer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the foregoing provisions of this Section&nbsp;4.08, the Issuer shall not be required to make a Change of
Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section&nbsp;4.08 applicable to a Change of Control Offer made
by the Issuer and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) If
Holders of not less than 90% in aggregate principal amount of the outstanding Securities validly tender and do not withdraw such Securities in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of
the Issuer as described above, purchases all of the Securities validly tendered and not withdrawn by such Holders, the Issuer or such third party will have the right, upon not less than 30 nor more than 60 days&#146; prior notice, given not more
than 30 days following such purchase pursuant to the Change of Control Offer described above, to repurchase all Securities that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued
and unpaid interest to but excluding the date of repurchase. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) Securities repurchased by the Issuer pursuant to a Change
of Control Offer will have the status of Securities issued but not outstanding or will be retired and canceled at the option of the Issuer. Securities purchased by a third party pursuant to the preceding clause (f)&nbsp;will have the status of
Securities issued and outstanding. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) At the time the Issuer delivers Securities to the Trustee which are to be
accepted for purchase, the Issuer shall also deliver an Officer&#146;s Certificate stating that such Securities are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section&nbsp;4.08. A Security shall be deemed to
have been accepted for purchase at the time the Trustee, directly or through an agent, mails or delivers payment therefor to the surrendering Holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Prior to any Change of Control Offer, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate stating that
all conditions precedent contained herein to the right of the Issuer to make such offer have been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) To
the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section&nbsp;4.08, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its
obligations under this Section&nbsp;4.08 by virtue thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The provisions under this Indenture relating to the
Issuer&#146;s obligation to make an offer to repurchase Notes as a result of a Change of Control may be waived or modified with the written consent of the Holders of a majority in principal amount of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.09 <U>Compliance Certificate</U>. The Issuer shall deliver to the Trustee within 120 days after the end of each fiscal year of the
Issuer, beginning with the fiscal year end on December&nbsp;31, 2014, an Officer&#146;s Certificate stating that in the course of the performance by the signers of their duties as Officers of the Issuer they would normally have knowledge of any
Default and whether or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe the Default, its status and what action the Issuer is taking or proposes to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.10 <U>Listing and General Information</U>. (a)&nbsp;The Issuer will use all commercially reasonable efforts to list and maintain the
listing of the Securities on the Euro MTF Market of the Luxembourg Stock Exchange; provided that if (1)&nbsp;the Issuer is unable to list the Securities on the Euro MTF Market of the Luxembourg Stock Exchange, (2)&nbsp;maintenance of such listing
becomes unduly onerous, or (3)&nbsp;the Euro MTF Market of the Luxembourg Stock Exchange requires financial information from the Issuer or any of its Subsidiaries, then the Issuer will, prior to the delisting of the Securities from the Euro MTF
Market of the Luxembourg Stock Exchange (if then listed on the Euro MTF Market of the Luxembourg Stock Exchange), use all commercially reasonable efforts to list and maintain a listing of the Securities on the Global Exchange Market of the Irish
Stock Exchange or another internationally recognized stock exchange (in which case, references in this Section&nbsp;4.10 to the Euro MTF Market of the Luxembourg Stock Exchange shall be deemed to refer to such other stock exchange). For avoidance of
doubt, in no event will this Section&nbsp;4.10 require the Issuer to list or maintain a listing on any exchange that requires financial reporting for any fiscal period in addition to the periods required by the SEC (for a &#147;foreign private
issuer&#148;) and the Netherlands Authority for the Financial Markets (Autoriteit Financi&euml;le Markten). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) So long as the Securities are listed on the Official List of the Luxembourg
Stock Exchange and admitted to trading on the Euro MTF Market thereof and the rules of the Luxembourg Stock Exchange shall so require, copies, current and future, of all of our annual audited consolidated and unconsolidated financial statements, our
unaudited consolidated interim quarterly financial statements, in each case as required to be filed pursuant to the rules of the SEC or the Netherlands Authority for the Financial Markets, and this Indenture may be obtained, free of charge, during
normal business hours at the offices of the listing agent in the Grand Duchy of Luxembourg. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.11 <U>Future Guarantors</U>. The
Issuer shall cause each Restricted Subsidiary (unless such Subsidiary is a Receivables Subsidiary) that guarantees any Indebtedness under Credit Facilities of (a)&nbsp;the Issuer or (b)&nbsp;any of the Guarantors, on the Issue Date or at any time
thereafter, to execute and deliver to the Trustee a supplemental indenture substantially in the form of Exhibit B pursuant to which such Subsidiary shall guarantee the Issuer&#146;s Obligations under the Securities and this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.12 <U>Liens</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly,
create, Incur or suffer to exist any Lien on any asset or property of the Issuer or such Restricted Subsidiary securing Indebtedness unless the Securities are equally and ratably secured with (or on a senior basis to, in the case of obligations
subordinated in right of payment to the Securities) the obligations so secured until such time as such obligations are no longer secured by a Lien. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;4.12(a) shall not require the Issuer or any Restricted Subsidiary of the Issuer to secure the Securities if
the Lien consists of a Permitted Lien. Any Lien that is granted to secure the Securities or such Guarantee under Section&nbsp;4.12(a) shall be automatically released and discharged at the same time as the release of the Lien that gave rise to the
obligation to secure the Securities or such Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.13 <U>Maintenance of Office or Agency</U>. (a)&nbsp;The Issuer shall
maintain an office or agency (which may be an office of the Trustee or an Affiliate of the Trustee or Registrar) where Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer in
respect of the Securities and this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee as set forth in Section&nbsp;11.03.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may also from time to time designate one or more other offices or agencies where the Securities may be
presented or surrendered for any or all such purposes and may from time to time rescind such designations; <I>provided</I>, <I>however</I>, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to maintain
an office or agency for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Issuer hereby designates the corporate trust office of the Trustee or its Agent as such office or agency of the Issuer
in accordance with Section&nbsp;2.04. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.14 <U>Termination and Suspension of Certain Covenants</U>. (a)&nbsp;If on any date
following the Issue Date (i)&nbsp;the Securities have Investment Grade Ratings from both Rating Agencies, and the Issuer has delivered an Officer&#146;s Certificate of such Investment Grade Ratings to the Trustee, and (ii)&nbsp;no Default has
occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i)&nbsp;and (ii)&nbsp;being collectively referred to as a &#147;Covenant Suspension Event&#148;), then, beginning on such date, the
Issuer and its Restricted Subsidiaries will not be subject to Section&nbsp;4.03 hereof, Section&nbsp;4.04 hereof, Section&nbsp;4.05 hereof, Section&nbsp;4.06 hereof, Section&nbsp;4.07 hereof, Section&nbsp;4.08 hereof, Section&nbsp;4.11 hereof,
clause (iv)&nbsp;of Section&nbsp;5.01(a) hereof, Section&nbsp;5.01(b) hereof and the penultimate paragraph of Section&nbsp;5.01 hereof (collectively, the &#147;Suspended Covenants&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In the event that the Issuer and the Restricted Subsidiaries are not subject to the Suspended Covenants under this
Indenture for any period of time as a result of the foregoing, and on any subsequent date (the &#147;Reversion Date&#148;) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Securities
below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries shall thereafter again be subject to the Suspended Covenants with respect to future events. The period of time between the Covenant Suspension Event and the Reversion
Date is referred to herein as the &#147;Suspension Period&#148;. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding that the Suspended Covenants may be
reinstated, no Default will be deemed to have occurred as a result of a failure to comply with the Suspended Covenants during the Suspension Period. During any Suspension Period, the Issuer may not designate any Subsidiary as an Unrestricted
Subsidiary unless the Issuer would have been permitted to designate such Subsidiary as an Unrestricted Subsidiary if a Suspension Period had not been in effect for any period, and such designation shall be deemed to have created a Restricted Payment
pursuant to Section&nbsp;4.04 following the Reversion Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the Reversion Date, all Indebtedness Incurred, or
Disqualified Stock or Preferred Stock issued, during the Suspension Period will be classified to have been Incurred or issued pursuant to Section&nbsp;4.03(a) or one of the clauses set forth in Section&nbsp;4.03(b) (in each case, to the extent such
Indebtedness would be permitted to be Incurred thereunder as of the Reversion Date and after giving effect to Indebtedness Incurred prior to the Suspension Period and outstanding on the Reversion Date). To the extent such Indebtedness or
Disqualified Stock or Preferred Stock would not be so permitted to be Incurred or issued pursuant to Section&nbsp;4.03(a) or Section&nbsp;4.03(b), such Indebtedness or Disqualified Stock or Preferred Stock will be deemed to have been outstanding on
the Issue Date, so that it is classified as permitted under Section&nbsp;4.03(b)(iv). For purposes of Section&nbsp;4.11, all Indebtedness Incurred during the Suspension </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Period and outstanding on the Reversion Date by any Restricted Subsidiary that is not a Guarantor will be deemed to have been Incurred on the Reversion Date. Calculations made after the Reversion
Date of the amount available to be made as Restricted Payments under Section&nbsp;4.04 will be made as though Section&nbsp;4.04 had been in effect since the Issue Date and throughout the Suspension Period. Accordingly, Restricted Payments made
during the Suspension Period will reduce the amount available to be made as Restricted Payments under Section&nbsp;4.04(a) and the items specified in clauses (1)&nbsp;through (6)&nbsp;of the definition of &#147;Cumulative Credit&#148; will increase
the amount available to be made as Restricted Payments under the first paragraph thereof. For purposes of determining compliance with Section&nbsp;4.06 on the Reversion Date, the Net Proceeds from all Asset Sales not applied in accordance with the
covenant will be deemed to be reset to zero. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) In addition, in the event that the Issuer and the Restricted Subsidiaries
are not subject to the Suspended Covenants under this Indenture for any period as a result of the foregoing, and on any subsequent date the Issuer or any of its Affiliates enters into an agreement to effect a transaction that would result in a
Change of Control and one or more of the Rating Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency to withdraw its Investment Grade
Rating or downgrade the ratings assigned to the Securities below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries will thereafter again be subject to Section&nbsp;4.08 hereof until the occurrence, if any, of another
Covenant Suspension Event, or the termination of such agreement, or the withdrawal by such Rating Agency of such indication, whichever occurs earliest. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 5 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUCCESSOR
COMPANY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5.01 <U>When Issuer May Merge or Transfer Assets</U>. (a)&nbsp;The Issuer shall not, directly or indirectly,
consolidate, amalgamate or merge with or into or wind up or convert into (whether or not the Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in
one or more related transactions, to any Person unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Issuer is the surviving Person or the Person formed by or
surviving any such consolidation, amalgamation, merger, winding up or conversion (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or
limited liability company organized or other Person existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (the Issuer or such
Person, as the case may be, being herein called the &#147;Successor Company&#148;); <I>provided</I> that in the case where the surviving Person is not a corporation or limited liability company (or equivalent of a corporation or limited liability
company in any permitted jurisdiction listed in this clause (i)), a co-obligor of the Securities is a corporation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii)
the Successor Company (if other than the Issuer) expressly assumes all the obligations of the Issuer under this Indenture and the Securities pursuant to supplemental indentures or other documents or instruments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the
Successor Company or any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction) no Default shall
have occurred and be continuing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) immediately after giving pro forma effect to such transaction, as if such
transaction had occurred at the beginning of the applicable four-quarter period (and treating any Indebtedness which becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been
Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction), either </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the
Successor Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Fixed Charge Coverage Ratio for the Successor Company and its Restricted Subsidiaries would be equal to or greater
than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if the Successor
Company is not the Issuer, each Guarantor, unless it is the other party to the transactions described above, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person&#146;s obligations under this Indenture and the
Securities; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) the Successor Company (if other than the Issuer) shall have delivered to the Trustee an
Officer&#146;s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indentures (if any) comply with this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Successor Company (if other than the Issuer) shall succeed to, and be substituted for, the Issuer under this Indenture and the Securities,
and in such event the Issuer will automatically be released and discharged from its obligations under this Indenture and the Securities. Notwithstanding the foregoing clauses (iii)&nbsp;and (iv)&nbsp;of this Section&nbsp;5.01(a), (A)&nbsp;any
Restricted Subsidiary may merge, consolidate or amalgamate with or transfer all or part of its properties and assets to the Issuer or to another Restricted Subsidiary, and (B)&nbsp;the Issuer may merge, consolidate or amalgamate with an Affiliate
incorporated solely for the purpose of reincorporating the Issuer in any country in the European Union, Switzerland, a state of the United States, the District of Columbia or any territory of the United States, so long as the amount of Indebtedness
of the Issuer and its Restricted Subsidiaries is not increased thereby. This Article 5 will not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Issuer and its Restricted Subsidiaries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Subject to the provisions of Section&nbsp;10.03 (which govern the release of
a Guarantee upon the sale or disposition of a Restricted Subsidiary of the Issuer that is a Guarantor), no Guarantor shall, and the Issuer shall not permit any Guarantor to, consolidate, amalgamate or merge with or into or wind up into (whether or
not such Guarantor is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) either (A)&nbsp;such Guarantor is the surviving Person or the Person formed by or surviving any such consolidation,
amalgamation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability company or other Person organized or
existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (such Guarantor or such Person, as the case may be, being herein called the
&#147;Successor Guarantor&#148; ) and the Successor Guarantor (if other than such Guarantor) expressly assumes all the obligations of such Guarantor under this Indenture and such Security, such Guarantor&#146;s Guarantee pursuant to a supplemental
indenture or other documents or instruments, or (B)&nbsp;such sale or disposition or consolidation, amalgamation or merger is not in violation of Section&nbsp;4.06; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the case of clause (i)(A) above, the Successor Guarantor (if other than such Guarantor) shall have delivered or caused
to be delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in this Indenture, the Successor Guarantor (if other than such Guarantor) will succeed to, and be substituted
for, such Guarantor under this Indenture and such Guarantor&#146;s Guarantee, and such Guarantor will automatically be released and discharged from its obligations under this Indenture and such Guarantor&#146;s Guarantee. Notwithstanding the
foregoing, (1)&nbsp;a Guarantor may merge, amalgamate or consolidate with an Affiliate incorporated solely for the purpose of reincorporating such Guarantor in any country in the European Union, Switzerland, the United States, or a state of the
United States, the District of Columbia or any territory of the United States so long as the amount of Indebtedness of the Guarantor is not increased thereby and (2)&nbsp;a Guarantor may merge, amalgamate or consolidate with another Guarantor or the
Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, notwithstanding the foregoing, any Guarantor may consolidate, amalgamate or merge with or into or wind up into, or
sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets (collectively, a &#147;Transfer&#148;) to (x)&nbsp;the Issuer or any Guarantor or (y)&nbsp;any Restricted Subsidiary of the Issuer
that is not a Guarantor; provided that at the time of each such Transfer pursuant to clause (y)&nbsp;the aggregate amount of all such Transfers since the Issue Date shall not exceed 5.0% of the consolidated assets of the Issuer and the Guarantors as
shown on the most recent available balance sheet of the Issuer and the Restricted Subsidiaries after giving effect to each such Transfer and including all Transfers occurring from and after the Issue Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFAULTS AND REMEDIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.01 <U>Events of Default</U>. An &#147;Event of Default&#148; with respect to the Securities occurs if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) there is a default in any payment of interest (including any Additional Amounts) on any Security, when the same becomes due
and payable, and such default continues for a period of 30 days, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) there is a default in the payment of principal or
premium, if any, of any Security, when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer or any Restricted Subsidiary fails to comply with its obligations under Section&nbsp;5.01, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the Issuer or any Restricted Subsidiary fails to comply with any of its agreements in the Securities or this Indenture
(other than those referred to in clause (a), (b)&nbsp;or (c)&nbsp;above) and such failure continues for 60 days after the notice specified below, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the Issuer or any Significant Subsidiary fails to pay any Indebtedness (other than Indebtedness owing to the Issuer or a
Restricted Subsidiary) within any applicable grace period after final maturity or the acceleration of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of such Indebtedness unpaid or accelerated
exceeds &#128;50.0&nbsp;million or its foreign currency equivalent, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) the Issuer or any Significant Subsidiary pursuant
to or within the meaning of any Bankruptcy Law: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) commences a voluntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) consents to the entry of an order for relief against it in an involuntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) consents to the appointment of a Custodian of it or for any substantial part of its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any foreign laws relating
to insolvency, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) is for relief against the Issuer or any Significant Subsidiary in an involuntary case; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) appoints a Custodian of the Issuer or any Significant Subsidiary or for any
substantial part of its property; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) orders the winding up or liquidation of the Issuer or any Significant
Subsidiary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 60 days,
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the Issuer or any Significant Subsidiary fails to pay final judgments aggregating in excess of &#128;50.0&nbsp;million
or its foreign currency equivalent (net of any amounts which are covered by enforceable insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period of 60 days following the entry thereof or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any Guarantee of a Significant Subsidiary with respect to the Securities ceases to be in full force and effect (except as
contemplated by the terms thereof) or any Guarantor that qualifies as a Significant Subsidiary denies or disaffirms its obligations under this Indenture or any Guarantee with respect to the Securities and such Default continues for 10 days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary
or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The term &#147;Bankruptcy Law&#148; means Title 11, United States Code, or any similar federal or state law or similar applicable law of any
jurisdiction for the relief of debtors. The term &#147;Custodian&#148; means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Default under clause (d)&nbsp;above shall not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal
amount of the Securities notify the Issuer of the Default and the Issuer does not cure such Default within the time specified in clause (d)&nbsp;above after receipt of such notice. Such notice must specify the Default, demand that it be remedied and
state that such notice is a &#147;Notice of Default.&#148; The Issuer shall deliver to the Trustee, within thirty (30)&nbsp;days after the occurrence thereof, written notice in the form of an Officer&#146;s Certificate of any event which is, or with
the giving of notice or the lapse of time or both would become, an Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.02 <U>Acceleration</U>. If an Event of Default (other than an Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with
respect to the Issuer) occurs with respect to the Securities and is continuing, the Trustee or the Holders of at least 25% in principal amount of Securities, by notice to the Issuer may declare the principal of, premium, if any, and accrued but
unpaid interest on all the Securities to be due and payable; <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be effective until the earlier of (i)&nbsp;five (5)&nbsp;Business
Days after the giving of written notice to the Issuer and the Representative under the Bank Credit Facilities and (ii)&nbsp;the day on which any Bank Indebtedness </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">is accelerated. Upon such a declaration, such principal and interest shall be due and payable immediately. If an
Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer occurs, the principal of, premium, if any, and interest on all the Securities shall become and be immediately due and payable without any declaration or other
act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may rescind any such acceleration and its consequences. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event of any Event of Default specified in Section&nbsp;6.01(e), such Event of Default and all consequences thereof (excluding,
however, any resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders of the Securities, if within 20 days after such Event of Default arose the Issuer delivers an
Officer&#146;s Certificate to the Trustee stating that (x)&nbsp;the Indebtedness or guarantee that is the basis for such Event of Default has been discharged or (y)&nbsp;the holders thereof have rescinded or waived the acceleration, notice or action
(as the case may be) giving rise to such Event of Default or (z)&nbsp;the default that is the basis for such Event of Default has been cured, it being understood that in no event shall an acceleration of the principal amount of the Securities as
described above be annulled, waived or rescinded upon the happening of any such events. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.03 <U>Other Remedies</U>. If an Event
of Default occurs and is continuing, the Trustee may pursue any available remedy at law or in equity to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. To the extent required by law, all available remedies are cumulative. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.04 <U>Waiver of Past
Defaults</U>. Provided the Securities are not then due and payable by reason of a declaration of acceleration, the Holders of a majority in principal amount of the outstanding Securities by written notice to the Trustee may waive an existing Default
or Event of Default and its consequences except (a)&nbsp;a Default in the payment of the principal of or interest on a Security, (b)&nbsp;a Default arising from the failure to redeem or purchase any Security when required pursuant to the terms of
this Indenture or (c)&nbsp;a Default in respect of a provision that under Section&nbsp;9.02 cannot be amended without the consent of each Holder affected. When a Default is waived, it is deemed cured and the Issuer, the Trustee and the Holders will
be restored to their former positions and rights under this Indenture, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.05 <U>Control by Majority</U>. The Holders of a majority in principal amount of the outstanding Securities may direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or,
subject to Section&nbsp;7.01, is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal or financial liability. Prior to taking any action under this Indenture, the Trustee shall be entitled to
indemnification and security satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.06 <U>Limitation on Suits</U>. (a)&nbsp;Except to enforce the right to receive payment
of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to this Indenture or the Securities unless: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Holder gives to the Trustee written notice stating that an Event of Default is continuing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Holders of at least 25% in principal amount of the outstanding Securities make a written request to the Trustee to
pursue the remedy; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such Holder or Holders offer to the Trustee reasonable security and indemnity satisfactory to the
Trustee against any loss, liability or expense; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee does not comply with the request within 60 days after
receipt of the request and the offer of security or indemnity; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the Holders of a majority in principal amount of
the Securities do not give the Trustee a direction inconsistent with the request during such 60-day period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) A Holder
may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
6.07 <U>Rights of the Holders to Receive Payment</U>. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective
due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.08 <U>Collection Suit by Trustee</U>. If an Event of Default specified in Section&nbsp;6.01(a) or (b)&nbsp;occurs and is continuing
with respect to Securities, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on the Securities for the whole amount then due and owing (together with interest on overdue
principal and (to the extent lawful) on any unpaid interest at the rate provided for in such Securities) and the amounts provided for in Section&nbsp;7.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.09 <U>Trustee May File Proofs of Claim</U>. The Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses disbursements and advances of the Trustee (including counsel, accountants, experts or such other professionals as the
Trustee deems necessary, advisable or appropriate)) and the Holders of the Securities then outstanding allowed in any judicial proceedings relative to the Issuer or any Guarantor, its creditors or its property, shall be entitled to participate as a
member, voting or otherwise, of any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person
performing similar functions, and any Custodian in any such judicial </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to
the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section&nbsp;7.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.10 <U>Priorities</U>. If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money or
property in the following order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">FIRST: to the Trustee (in all of its roles and capacities) for amounts due under
Section&nbsp;7.07; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECOND: to the Holders for amounts due and unpaid on the Securities for principal, premium, if any, and
interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIRD: to the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section. At least 15 days before such
record date, the Trustee shall mail to each Holder and the Issuer a notice that states the record date, the payment date and amount to be paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.11 <U>Undertaking for Costs</U>. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys&#146; fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section&nbsp;6.07 or a suit by Holders of more than 10% in principal amount of the outstanding Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.12 <U>Waiver of Stay or Extension Laws</U>. Neither the Issuer nor any Guarantor (to the extent it may lawfully do so) shall at any
time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Issuer and each Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee,
but shall suffer and permit the execution of every such power as though no such law had been enacted. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 7 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRUSTEE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.01
<U>Duties of Trustee</U>. (a)&nbsp;If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person
would exercise or use under the circumstances in the conduct of such person&#146;s own affairs. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except during the continuance of an Event of Default: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee (it being agreed that the permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee shall be under no duty to make any investigation as to any statement contained in
any such instance, but may accept the same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of certificates or opinions required by any provision hereof to be provided to
it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the form required by this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may not be relieved from liability for its own grossly negligent action, its own grossly negligent failure to
act or its own willful misconduct, except that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) this paragraph does not limit the effect of paragraph (b)&nbsp;of this
Section; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the
Trustee unless it is proved that the Trustee was grossly negligent in ascertaining the pertinent facts; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Trustee
shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section&nbsp;6.05; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise Incur financial or
personal liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b)&nbsp;and
(c)&nbsp;of this Section. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Money held in trust by the Trustee need not be segregated from other funds
except to the extent required by law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Every provision of this Indenture relating to the conduct or affecting the
liability of or affording protection to the Trustee shall be subject to the provisions of this Section. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.02 <U>Rights of
Trustee</U>. (a)&nbsp;The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact, calculation or matter stated in the document.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before the Trustee acts or refrains from acting, it may require an Officer&#146;s Certificate or an Opinion of Counsel
or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer&#146;s Certificate or Opinion of Counsel. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may act through agents and shall not be responsible for the misconduct or gross negligence of any agent
appointed with due care. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which
it believes to be authorized or within its rights or powers; <I>provided</I>, <I>however</I>, that the Trustee&#146;s conduct does not constitute willful misconduct or gross negligence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing to do so by the Holders of not less than a majority in
principal amount of the Securities at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuer and shall Incur no liability of any kind by reason of such inquiry or
investigation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses (including reasonable
attorney&#146;s fees and expenses) and liabilities which might be incurred by it in compliance with such request or direction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The rights, privileges, protections, immunities and benefits given to the
Trustee, including its right to be indemnified, are extended to, and shall be enforceable by, the Trustee in each of its roles and capacities hereunder, and each agent, custodian and other Person appointed or employed to act hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The Trustee shall not be liable for any action taken or omitted by it in good faith at the direction of the Holders of not
less than a majority in principal amount of the Securities as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred by this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture upon the request or
authority or consent of any Person who, at the time of making such request or giving such authority or consent, is the Holder of any Security shall be conclusive and binding upon future Holders of Securities and upon Securities executed and
delivered in exchange therefor or in place thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) Unless otherwise specifically provided in this Indenture, any
demand, request, direction or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The
Trustee shall not be charged with knowledge or deemed with notice of any Default of Event of Default with respect to the Securities unless either (A)&nbsp;a Responsible Officer of the Trustee assigned to the Corporate Trust department of the Trustee
(or any successor division or department of the Trustee) shall have actual knowledge of such Default or Event of Default or (B)&nbsp;written notice of such Default or Event of Default shall have been given to the Trustee at its Corporate Trust
Office by the Issuer or any other obligor on the Securities or by any Holder of the Securities, such notice specifically identifying this Indenture and the Securities. For purposes of determining the Trustee&#146;s responsibility and liability
hereunder, whenever reference is made in this Indenture to a Default or Event of Default, such reference shall be construed to refer only to such Default or Event of Default for which the Trustee is deemed to have notice pursuant to this
Section&nbsp;7.02(l). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) The Trustee may request that the Company deliver an Officer&#146;s Certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer&#146;s Certificate may be signed by any person authorized to sign an Officer&#146;s Certificate, including any
person specified as so authorized in any such certificate previously delivered and not superseded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) The permissive
rights of the Trustee enumerated herein shall not be construed as duties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) In respect of this Indenture, the Trustee
shall not have any duty or obligation to verify or confirm that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such
instructions, directions, reports, notices or other communications or information on behalf of the party purporting to send such electronic transmission; and the Trustee shall not have any liability for any losses, liabilities, costs
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
or expenses incurred or sustained by any party as a result of such reliance upon or compliance with such instructions, directions, reports, notices or other communications or information. Each
other party agrees to assume all risks arising out of the use of electronic methods to submit instructions, directions, reports, notices or other communications or information to the Trustee, including without limitation the risk of the Trustee
acting on unauthorized instructions, notices, reports or other communications or information, and the risk of interception and misuse by third parties. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) In no event shall the Trustee be responsible or liable for any special, indirect, punitive or consequential loss or damage
of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) The Trustee shall have no obligation or duty to ensure compliance with the securities laws of any country or state except
to request such certificates or other documents required to be obtained by the Trustee or any Registrar hereunder in connection with any exchange or transfer pursuant to the terms hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility
hereunder by reason of any occurrence beyond the control of the Trustee (including but not limited to any act or provision of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national
disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.03 <U>Individual Rights of Trustee</U>. The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Issuer or their Affiliates with the same rights it would have if it were not Trustee. Any Paying Agent or Registrar may do the same with like rights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.04 <U>Trustee&#146;s Disclaimer</U>. The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, any Guarantee or the Securities, it shall not be accountable for the Issuer&#146;s use of the proceeds from the Securities, and it shall not be responsible for any statement of the Issuer or any Guarantor in this
Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee&#146;s certificate of authentication. The Trustee shall not be charged with knowledge of any Default or Event of Default
under Sections 6.01(c), (d), (f), (g), (e), (h), or (i)&nbsp;or of the identity of any Significant Subsidiary unless either (a)&nbsp;a Responsible Officer of the Trustee shall have actual knowledge thereof or (b)&nbsp;the Trustee shall have received
written notice thereof in accordance with Section&nbsp;11.03 hereof from the Issuer, any Guarantor or any Holder. In accepting the trust hereby created, the Trustee acts solely as Trustee for the Holders of the Securities and not in its individual
capacity and all persons, including without limitation the Holders of Securities and the Issuer having any claim against the Trustee arising from this Indenture shall look only to the funds and accounts held by the Trustee hereunder for payment
except as otherwise provided herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.05 <U>Notice of Defaults</U>. If a Default occurs and is continuing and if it is actually
known to a Responsible Officer of the Trustee, the Trustee shall electronically deliver or mail to each Holder of the Securities notice of the Default within the earlier of 90 days </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
after it occurs or 30 days after it is actually known to a Responsible Officer of the Trustee or written notice of it is received by the Trustee. Except in the case of a Default in the payment of
principal of, premium (if any) or interest on any Security, the Trustee may withhold the notice if and so long as a Responsible Officer of the Trustee in good faith determines that withholding the notice is in the interests of the Holders of the
Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.06 <U>Affiliate Subordination Agreement</U>. The Trustee is hereby authorized by the Company, and by its acceptance
of the Securities issued hereunder each Holder hereby authorizes the Trustee, to enter into and perform the affiliate subordination agreement dated as of May&nbsp;7, 2014 among the Trustee and the parties thereto, on behalf of the Holders and any
amendments relating thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.07 <U>Compensation and Indemnity</U>. The Issuer shall pay to the Trustee from time to time
properly incurred compensation for its services. The Trustee&#146;s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the Trustee upon request for all properly incurred
out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee&#146;s
agents, counsel, accountants and experts. The Issuer shall indemnify the Trustee against any and all loss, liability, claim, damage or expense (including reasonable attorneys&#146; fees and expenses) incurred by or in connection with the acceptance
or administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture or Guarantee against the Issuer or a Guarantor (including this Section&nbsp;7.07) and defending itself against
or investigating any claim (whether asserted by the Issuer, any Guarantor, any Holder or any other Person). The obligation to indemnify and pay such amounts shall survive the payment in full or defeasance of the Securities or the removal or
resignation of the Trustee. The Trustee shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; <I>provided</I>, <I>however</I>, that any failure so to notify the Issuer shall not
relieve the Issuer of its indemnity obligations hereunder. The Issuer shall defend the claim and the indemnified party shall provide reasonable cooperation at the Issuer&#146;s expense in the defense. Such indemnified parties may have separate
counsel and the Issuer shall pay the fees and expenses of such counsel; <I>provided</I>, <I>however</I>, that the Issuer shall not be required to pay such fees and expenses if it assumes such indemnified parties&#146; defense and, in such
indemnified parties&#146; reasonable judgment, there is no conflict of interest between the Issuer and such parties in connection with such defense. The Issuer need not reimburse any expense or indemnify against any loss, liability or expense
incurred by an indemnified party through such party&#146;s own willful misconduct, gross negligence or bad faith, as determined by a court of competent jurisdiction in a final, non-appealable ruling. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To secure the Issuer&#146;s payment obligations in this Section, the Trustee shall have a Lien prior to the Securities on all money or
property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer&#146;s payment obligations pursuant to this Section shall survive the satisfaction or discharge of this Indenture, any rejection or
termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses after the occurrence of a
Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No provision of this Indenture shall require the Trustee to expend or risk its own funds or
otherwise Incur any financial liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if repayment of such funds or adequate indemnity or security against such risk or liability is not assured
to its satisfaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.08 <U>Replacement of Trustee</U>. (a)&nbsp;The Trustee may resign at any time by giving 30 days written
notice to the Issuer of such. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) [reserved]; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee is adjudged bankrupt or insolvent; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) a receiver or other public officer takes charge of the Trustee or its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee otherwise becomes incapable of acting. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and
such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a
successor Trustee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee
and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a
notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section&nbsp;7.07. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer&#146;s obligations under
Section&nbsp;7.07 shall continue for the benefit of the retiring Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.09 <U>Successor Trustee by Merger</U>. If the Trustee
consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall
be the successor Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case at the time such successor or successors by merger, conversion or consolidation to the
Trustee shall succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and
deliver such Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name
of the successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 8 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISCHARGE OF
INDENTURE; DEFEASANCE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.01 <U>Discharge of Liability on Securities; Defeasance</U>. This Indenture shall be discharged and
shall cease to be of further effect (except as to surviving rights of registration of transfer or exchange of Securities, as expressly provided for in this Indenture) as to all outstanding Securities when: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) either (i)&nbsp;all the Securities theretofore authenticated and delivered (other than Securities pursuant to
Section&nbsp;2.08 which have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have
been delivered to the Trustee for cancellation or (ii)&nbsp;all of the Securities (A)&nbsp;have become due and payable, (B)&nbsp;will become due and payable at their Stated Maturity within one year or (C)&nbsp;if redeemable at the option of the
Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer has irrevocably deposited or
caused to be deposited with the Trustee or its designee money, European Government Obligations or a combination thereof in an amount sufficient in the written opinion of an Independent Financial Advisor delivered to the Trustee (which opinion shall
only be required if European Government Obligations have been so deposited) to pay and discharge the entire Indebtedness on the Securities not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, and interest on
the Securities to the date of deposit together with irrevocable written instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Issuer and/or the Guarantors have paid all other sums payable under this Indenture; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer has delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel stating that all conditions
precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections 8.01(c) and 8.02, the Issuer at any time may terminate (i)&nbsp;all of its
obligations under the Securities and this Indenture (with respect to such Securities) (&#147;legal defeasance option&#148;) or (ii)&nbsp;its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11 and 4.12 for the benefit of
the Securities and the operation of Section&nbsp;5.01 and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with respect to Significant Subsidiaries of the Issuer only), 6.01(g) (with respect to Significant Subsidiaries of the Issuer only), 6.01(h) and
6.01(i) (&#147;covenant defeasance option&#148;) for the benefit of the Holders of the Securities. The Issuer may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. In the event that the Issuer
exercises its legal defeasance option or its covenant defeasance option with respect to the Securities, the obligations of each Guarantor under its Guarantee of such Securities shall be terminated simultaneously with the termination of the
obligations terminated pursuant to such legal defeasance or covenant defeasance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuer exercises its legal defeasance option,
payment of the Securities so defeased may not be accelerated because of an Event of Default. If the Issuer exercises its covenant defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of Default
specified in Section&nbsp;6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g), 6.01(h) or 6.01(i) or because of the failure of the Issuer to comply with Section&nbsp;5.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon satisfaction of the conditions set forth herein and upon request and at the expense of the Issuer, the Trustee shall acknowledge in
writing the discharge of those obligations that the Issuer terminates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding clauses (i)&nbsp;and
(ii)&nbsp;above, the Issuer&#146;s obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 7.07, 7.08 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the Issuer&#146;s obligations in Sections 7.07,
8.05 and 8.06 shall survive such satisfaction and discharge. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.02 <U>Conditions to Defeasance</U>. (a)&nbsp;The Issuer may
exercise its legal defeasance option or its covenant defeasance option, in each case, with respect to the Securities only if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Issuer irrevocably deposits in trust with the Trustee or its designee money, European Government Obligations or a
combination thereof sufficient, in the case any European Government Obligations are deposited, in the opinion of an Independent Financial Advisor, for the payment of principal of and premium (if any) and interest on the Securities when due at
maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the
Issuer delivers to the Trustee a certificate from an Independent Financial Advisor expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited European Government Obligations plus any
deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay principal, premium, if any, and interest when due on all the Securities to maturity or redemption, as the case may be; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) 123 days pass after the deposit is made and during the 123-day period no
Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer occurs which is continuing at the end of the period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the deposit does not constitute a default under any other agreement binding on the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) in the case of the legal defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel stating
that (1)&nbsp;the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or (2)&nbsp;since the date of this Indenture there has been a change in the applicable U.S. Federal income tax law, in either case to
the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial owners will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such deposit and defeasance and will be subject to U.S.
Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) such exercise does not impair the right of any Holder to receive payment of principal, premium, if any, and interest on
such Holder&#146;s Securities on or after the due dates therefore or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) in the case of the covenant defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel to
the effect that the Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such deposit and defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such deposit and defeasance had not occurred; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the Issuer delivers to the
Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Securities to be so defeased and discharged as contemplated by this Article 8 have been complied with.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such
Securities at a future date in accordance with Article 3. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.03 <U>Application of Trust Money</U>. The Trustee or its designee
shall hold in trust money or European Government Obligations (including proceeds thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from European Government Obligations through each Paying Agent
and in accordance with this Indenture to the payment of principal of and interest on the Securities so discharged or defeased. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
8.04 <U>Repayment to Issuer</U>. Each of the Trustee and each Paying Agent shall promptly turn over to the Issuer upon request any money or European Government Obligations held by it as provided in this Article which, in the written opinion of an
Independent Financial Advisor delivered to the Trustee (which delivery shall only be required if European </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Government Obligations have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with
this Article 8. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to any applicable abandoned property law, the Trustee and each Paying Agent shall pay to the Issuer upon written
request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuer for payment as general creditors, and the Trustee and each Paying
Agent shall have no further liability with respect to such monies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.05 <U>Indemnity for European Government Obligations</U>. The
Issuer shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited European Government Obligations or the principal and interest received on such European Government Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.06 <U>Reinstatement</U>. If the Trustee or any Paying Agent is unable to apply any money or European Government Obligations in
accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer&#146;s obligations under this
Indenture and the Securities so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any Paying Agent is permitted to apply all such money or European
Government Obligations in accordance with this Article 8; <I>provided</I>, <I>however</I>, that, if the Issuer has made any payment of principal of or interest on, any such Securities because of the reinstatement of its obligations, the Issuer shall
be subrogated to the rights of the Holders of such Securities to receive such payment from the money or European Government Obligations held by the Trustee or any Paying Agent. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 9 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENTS
AND WAIVERS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.01 <U>Without Consent of the Holders</U>. The Issuer and the Trustee may amend this Indenture and the
Securities without notice to or consent of any Holder: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to cure any ambiguity, omission, mistake, defect or
inconsistency; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to provide for the assumption by a Successor Company of the obligations of the Issuer under this
Indenture and the Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to provide for the assumption by a Successor Guarantor of the obligations of a
Guarantor under this Indenture and the applicable Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) to provide for uncertificated Securities in addition to
or in place of certificated Securities (<I>provided</I> that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to add a Guarantee with respect to the Securities; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) to make any change that would provide additional rights or benefits to the
Holders or that does not adversely affect the legal rights of any such Holder under this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) to make changes
relating to the transfer and legending of the Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) to secure the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred
upon the Issuer or any Guarantor; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) to make any change that does not adversely affect the rights of any Holder in any
material respect; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) to effect any provision of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) to provide for the issuance of Add-On Securities, which shall have terms substantially identical in all material respects
to the Original Securities, and which shall be treated, together with any outstanding Original Securities, as a single issue of securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee hereunder
pursuant to the requirements hereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) to conform and evidence the release, termination and discharge of any Guarantee
or Lien securing the Securities when such release, termination or discharge is permitted by this Indenture; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) to
conform the text of this Indenture, the Guarantees or the Securities to any provision of the &#147;Description of the Notes&#148; contained in the Offering Memorandum to the extent such provision in the &#147;Description of the Notes&#148; contained
in the Offering Memorandum was intended to be a verbatim recitation of a provision of this Indenture, the Guarantees or the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.01 becomes effective, the Issuer shall deliver electronically or mail to the Holders a notice
briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section&nbsp;9.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.02 <U>With Consent of the Holders</U>. The Issuer and the Trustee may amend this Indenture and the Securities with respect to the
Securities with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange for the Securities). However, without the
consent of each Holder of an outstanding Security affected, an amendment may not: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) reduce the amount of Securities
whose Holders must consent to an amendment, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) reduce the rate of or extend the time for payment of interest on any
Security, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) reduce the principal of or change the Stated Maturity of any Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) reduce the premium payable upon the redemption of any Security or change the time at which any Security may be redeemed in
accordance with Article 3, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) make any Security payable in money other than that stated in such Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) expressly subordinate the Securities or any Guarantee to any other Indebtedness of the Issuer or any Guarantor, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) impair the right of any Holder to receive payment of principal of, premium, if any, and interest on such Holder&#146;s
Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) make any change in Section&nbsp;6.04 or 6.07 or the second sentence of this Section&nbsp;9.02, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) except as expressly permitted by this Indenture, modify the Guarantee of any Significant Subsidiary, or the Guarantee of
one or more Restricted Subsidiaries that collectively would, at the time of such amendment, represent a Significant Subsidiary in any manner adverse to the Holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">It shall not be necessary for the consent of the Holders under this Section&nbsp;9.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.02
becomes effective, the Issuer is required to deliver electronically or mail to the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of
an amendment under this Section&nbsp;9.02. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.03 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.04 <U>Revocation and Effect of Consents and Waivers</U>. (a)&nbsp;A consent to an amendment or a waiver by a Holder of a Security
shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder&#146;s Security, even if notation of the consent or waiver is not made on the Security. However, any
such Holder or subsequent Holder may revoke the consent or waiver as to such Holder&#146;s Security or portion of the Security if the Trustee receives the notice of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
revocation before the date on which the Trustee receives an Officer&#146;s Certificate from the Issuer certifying that the requisite principal amount of Securities have consented. After an
amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective upon the (i)&nbsp;receipt by the Issuer or the Trustee of consents by the Holders of the requisite principal amount of securities,
(ii)&nbsp;satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto containing such amendment or waiver and (iii)&nbsp;execution of such amendment or waiver (or supplemental indenture) by the
Issuer and the Trustee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph,
those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons
continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.05 <U>Notation on or Exchange of Securities</U>. If an amendment, supplement or waiver changes the terms of a Security, the Issuer
may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Issuer so determines, the Issuer in
exchange for the Security shall issue and the Trustee shall, upon receipt of a Written Order, authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the
validity of such amendment, supplement or waiver. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.06 <U>Trustee to Sign Amendments</U>. The Trustee shall sign any amendment,
supplement or waiver authorized pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment, the
Trustee shall be entitled to receive indemnity reasonably satisfactory to it and shall be provided with, and (subject to Section&nbsp;7.01) shall be fully protected in relying upon, an Officer&#146;s Certificate and an Opinion of Counsel
(notwithstanding that no Opinion of Counsel is required in the case of the addition of a Guarantor) stating that such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the
legal, valid and binding obligation of the Issuer and the Guarantors, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section&nbsp;9.03). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.07 <U>Payment for Consent</U>. Neither the Issuer nor any Affiliate of the Issuer shall, directly or indirectly, pay or cause to be
paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Securities unless such consideration is
offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.08 <U>Additional Voting Terms; Calculation of Principal Amount</U>. Except as otherwise
set forth herein, all Securities issued under this Indenture shall vote and consent separately on all matters as to which any of such Securities may vote. Determinations as to whether Holders of the requisite aggregate principal amount of Securities
have concurred in any direction, waiver or consent shall be made in accordance with this Article 9 and Section&nbsp;2.14. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 10
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GUARANTEES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.01 <U>Guarantees</U>. (a)&nbsp;Each Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees on a senior
unsecured basis, as a primary obligor and not merely as a surety, to each Holder and to the Trustee and its successors and assigns (i)&nbsp;the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or
otherwise, of all Obligations of the Issuer under this Indenture (including obligations to the Trustee) and the Securities, whether for payment of principal of, premium, if any or interest on or in respect of the Securities and all other monetary
obligations of the Issuer under this Indenture and the Securities and (ii)&nbsp;the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under
this Indenture and the Securities (all the foregoing being hereinafter collectively called the &#147;Guaranteed Obligations&#148;). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part,
without notice or further assent from each such Guarantor, and that each such Guarantor shall remain bound under this Article 10 notwithstanding any extension or renewal of any Guaranteed Obligation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Guarantor waives presentation to, demand of payment from and protest to the Issuer of any of the Guaranteed
Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by (i)&nbsp;the failure
of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person under this Indenture, the Securities or any other agreement or otherwise; (ii)&nbsp;any extension or renewal of this
Indenture, the Securities or any other agreement; (iii)&nbsp;any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (iv)&nbsp;the release of any security held by
any Holder or the Trustee for the Guaranteed Obligations or any Guarantor; (v)&nbsp;the failure of any Holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi)&nbsp;any change in the
ownership of such Guarantor, except as provided in Section&nbsp;10.03. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each Guarantor hereby waives any right to which
it may be entitled to have its obligations hereunder divided among the Guarantors, such that such Guarantor&#146;s obligations would be less than the full amount claimed. Each Guarantor hereby waives any right to which it may be entitled to have the
assets of the Issuer first be used and depleted as payment of the Issuer&#146;s or such Guarantor&#146;s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder. Each Guarantor hereby waives any right to
which it may be entitled to require that the Issuer be sued prior to an action being initiated against such Guarantor. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Each Guarantor further agrees that its Guarantee herein constitutes a
guarantee of payment, performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Guarantee of each Guarantor is, to the extent and in the manner set forth in this Article 10, equal in right of payment
to all existing and future Pari Passu Indebtedness and senior in right of payment to all existing and future Subordinated Indebtedness of the Issuer and is made subject to such provisions of this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Except as expressly set forth in Sections 8.01, 10.02 and 10.06, the obligations of each Guarantor hereunder shall not be
subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be discharged or impaired or
otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure
or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise
operate as a discharge of any Guarantor as a matter of law or equity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Each Guarantor agrees that its Guarantee shall
be a continuing guarantee and shall remain in full force and effect until payment in full of all the Guaranteed Obligations, subject to the other terms of this Indenture. Each Guarantor further agrees that its Guarantee herein shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or
reorganization of the Issuer or otherwise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) In furtherance of the foregoing and not in limitation of any other right
which any Holder or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at
maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in
cash, to the Holders or the Trustee an amount equal to the sum of (i)&nbsp;the unpaid principal amount of such Guaranteed Obligations, (ii)&nbsp;accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by
applicable law) and (iii)&nbsp;all other monetary obligations of the Issuer to the Holders and the Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Each Guarantor agrees that it shall not be entitled to any right of
subrogation in relation to the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the Holders and the
Trustee, on the other hand, (i)&nbsp;the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Guarantee herein, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii)&nbsp;in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such Guaranteed Obligations (whether or
not due and payable) shall forthwith become due and payable by such Guarantor for the purposes of this Section&nbsp;10.01. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Each Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys&#146; fees and expenses)
incurred by the Trustee or any Holder in enforcing any rights under this Section&nbsp;10.01. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) To the fullest extent permitted by applicable law but subject to the limitations set out in Section&nbsp;10.02 below, each
Guarantor waives any defense based on or arising out of any defense of the Issuer or any other Guarantor or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of
the Issuer or any other Guarantor, other than the payment in full in cash of all the Guaranteed Obligations. Subject to the limitations set out in Section&nbsp;10.02 below, the Trustee (acting at the direction of the Holders pursuant to
Section&nbsp;6.05) may, in accordance with the terms of this Indenture, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the Issuer or any Guarantor or exercise any other right or remedy available to it
against the Issuer or any other Guarantor, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Guaranteed Obligations have been paid in full in cash. To the fullest extent permitted by
applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such
Guarantor against the Issuer or any other Guarantor, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.02 <U>Limitation on Liability</U>. (a)&nbsp;Any term
or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Guarantor shall not exceed the maximum amount that can be hereby guaranteed without
(i)&nbsp;rendering this Indenture, as it relates to such Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally or (ii)&nbsp;resulting in any
breach of corporate benefit, financial assistance, fraudulent preference, thin capitalization laws, retention of title claims, capital maintenance rules, general statutory limitations, or the laws or regulations (or analogous restrictions) of any
applicable jurisdiction or any similar principles which may limit the ability of any Foreign Subsidiary to provide a Guarantee or may require that the Guarantee be limited by an amount or scope or otherwise. Each Guarantor, and by its acceptance of
Securities, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Guarantor not constitute a fraudulent conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to
the extent applicable to any Guarantee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) (i) To the extent that any Guarantee is granted by a German entity (a
&#147;German Guarantor&#148;) incorporated as a limited liability company (<I>Gesellschaft mit beschr&auml;nkter Haftung</I>) (&#147;GmbH&#148;) or a limited partnership (<I>Kommanditgesellschaft</I>) (&#147;KG&#148;) with a limited liability
company as sole general partner (&#147;GmbH&nbsp;&amp; Co. KG&#148;) and that such Guarantee secures liabilities other than the own liabilities of the relevant German Guarantor or any of its subsidiaries, the Guarantee will be limited to such amount
(I)&nbsp;as is required to ensure that the amount of the German Guarantor&#146;s net assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG), calculated as the sum of the balance sheet positions shown
under section 266 sub-section (2)&nbsp;(A), (B), (C)&nbsp;and (D)&nbsp;of the German Commercial Code (<I>Handelsgesetzbuch</I>) (&#147;HGB&#148;) less the sum of the amounts shown under balance sheet positions shown under section 266 (3)&nbsp;(B),
(C), (D)&nbsp;and (E)&nbsp;HGB and any amounts not available for distribution to its shareholders in accordance with section 268 sub-section (8)&nbsp;HGB, does not fall below the amount of its registered share capital (<I>Stammkapital</I>); or (II)
where the amount of the German Guarantor&#146;s net assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG) already is below the amount of its registered share capital, as is required as to ensure that
such amount is not further reduced. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The limits in clauses (I)&nbsp;and (II) of Section&nbsp;10.02(b)(i) will not
apply (A)&nbsp;to the extent that the Guarantees of the relevant German Guarantor relate to the relevant German Guarantor&#146;s Indirect Borrowings; (B)&nbsp;if following the first date upon which the relevant German Guarantor is called upon to
make payment in respect of its Guarantee, the relevant German Guarantor (or its general partner if the relevant German Guarantor is a limited partnership) does not provide financial statements in accordance with Section&nbsp;10.02(b)(iv) and
(v)&nbsp;below; (C)&nbsp;if the relevant German Guarantor (or, if the German Guarantor is a GmbH&nbsp;&amp; Co. KG, its general partner) (as dominated entity) is party to a domination and/or profit and loss transfer agreement (<I>Beherrschungs-
und/oder Gewinnabf&uuml;hrungsvertrag</I>) (a &#147;<U>DPTA</U>&#148;), unless the Guarantor&#146;s claim for absorption of losses pursuant to section 302 German Stock Corporation Act (<I>Aktiengesetz</I>) is or cannot be expected to be fully
recoverable (unless a higher or supreme court has found by way of a final judgment that the requirement of a fully recoverable counterclaim is not applicable if a DPTA is in place); or (D)&nbsp;if and to the extent the German Guarantor holds on the
date of enforcement of the guarantee made herein a fully recoverable indemnity claim or claim for refund (<I>vollwertiger Gegenleistungs- oder R&uuml;ckgew&auml;hranspruch</I>) against its shareholder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) If, following a legislative amendment of, or the rendering of a final judgment by the Federal High Court of Justice with
respect to, section 30 et seq. German Limited Liability Companies Act (<I>Gesetz betreffend die Gesellschaften mit beschrankter Haftung</I>) (&#147;GmbHG&#148;) after the date of this Indenture, the German Guarantor submits reasonably satisfactory
evidence that the exception referred to in clause (C)&nbsp;of Section&nbsp;10.02(b)(ii) above is no longer required to protect the management of the German Guarantor from personal liability under sections 30 et seq. and 43 GmbHG, such clause
(C)&nbsp;shall no longer apply. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the purpose of the calculation of the net assets of a German Guarantor,
the following balance sheet items shall be adjusted as follows: (A)&nbsp;the amount of any increase of the German Guarantor&#146;s or its general partner&#146;s registered share capital after the date of this Indenture, to the extent that it is not
fully paid up, shall be deducted from the German Guarantor&#146;s or its general partner&#146;s registered share capital; (B)&nbsp;loans provided to the German Guarantor or its general partner by the Issuer or any Guarantor shall be disregarded if
and to the extent those loans are subordinated or are considered subordinated pursuant to section 39 para. 1 no. 5 and/or para. 2 of the German Insolvency Code (<I>Insolvenzordnung &#150; InsO</I>); and (C)&nbsp;loans or other liabilities incurred
in violation of the provisions of this Indenture shall be disregarded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) For the purpose of the calculation of the net
assets, the relevant German Guarantor will deliver (within 15 Business Days following the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee) to the Trustee a notification stating to which
extent the amount payable in respect of its Guarantee shall be limited in accordance with clauses (b)(i)(I) and (b)(i)(II) of this Section&nbsp;10.02 above and taking into account the adjustments in clause (b)(iv) of this Section&nbsp;10.02 above,
such notification to be supported by interim financial statements (<I>Stichtagsbilanz</I>) showing the balance sheet positions mentioned in clause (b)(i)(I) above as of the relevant date (the &#147;Management Determination&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Following the Trustee&#146;s receipt of the Management Determination, upon the Trustee&#146;s request (acting at the
direction of the Holders pursuant to Section&nbsp;6.05 hereof) (the &#147;<U>Trustee&#146;s Request</U>&#148;), the relevant German Guarantor (or its general partner if the relevant German Guarantor is a limited partnership) will deliver (within 25
Business Days following receipt of the Trustee&#146;s Request) to the Trustee an up-to-date balance sheet drawn-up by a firm of auditors of international standing and repute together with a determination of the net assets. Such balance sheet and
determination of net assets shall be prepared in accordance with accounting principles pursuant to the German Commercial Code and be based on the same principles that were applied when establishing the previous year&#146;s balance sheet. The
determination by the auditors (as set forth above, the &#147;Auditors&#146; Determination&#148;) pertaining to the relevant German Guarantor or, in the case of a GmbH&nbsp;&amp; Co. KG, its general partner shall have been prepared as of the first
date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) The
Trustee (acting at the direction of the Holders pursuant to Section&nbsp;6.05) shall be entitled to demand payment under the Guarantee in an amount which would, in accordance with the Management Determination or, if applicable and taking into
account any previous enforcement in accordance with the Management Determination, the Auditors&#146; Determination, not cause the German Guarantor&#146;s net assets (or if the German Guarantor is a limited
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
partnership, its general partner&#146;s net assets) to be reduced below zero or further reduced if already below zero. If and to the extent the net assets as determined by the Auditors&#146;
Determination are lower than the amount enforced in accordance with the Management Determination, the Trustee shall release to the relevant German Guarantor (or if the German Guarantor is a limited partnership, to its general partner) such exceeding
enforcement proceeds. The Trustee may (acting at the direction of the Holders pursuant to Section&nbsp;6.05) withhold any amount received pursuant to an enforcement of this guarantee until final determination of the amount of the net assets pursuant
to the Auditors&#146; Determination. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) In a situation where the relevant German Guarantor does not have sufficient
net assets to maintain its registered share capital the relevant German Guarantor shall within three months after a written request by the Trustee (acting at the direction of the Holders pursuant to Section&nbsp;6.05), to the extent commercially
justifiable, dispose of all assets which are not necessary for its business (<I>nicht betriebsnotwendig</I>) on market terms where the relevant assets are shown in the balance sheet of the relevant German Guarantor with a book value which is
significantly lower than the market value of such assets. After the expiry of such three-month period the German Guarantor shall, within three Business Days, notify the Trustee of the amount of the net proceeds from the sale and submit a statement
with a new calculation of the amount of the net assets of the German Guarantor (or if the German Guarantor is a limited partnership, of its general partner) taking into account such proceeds. Such calculation shall, upon the Trustee&#146;s request
(acting at the direction of the Holders pursuant to Section&nbsp;6.05), be confirmed by one of the auditors of the German Guarantor within a period of 15 Business Days following the request. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) (i) Subject to clause (v)&nbsp;below and notwithstanding any contrary indication in this Indenture, in relation to a
Guarantor organized under the laws of France (a &#147;French Guarantor&#148;), its Guarantee shall be limited to the payment obligations of the Issuer up to an amount equal to the aggregate of all outstanding amounts issued directly by the Issuer
under this Indenture or indirectly (through an issuance (an &#147;Indirect Issuance&#148;) by the Issuer of Add-On Securities under this Indenture) and to the extent on-lent directly or indirectly to, or used to refinance any indebtedness previously
on-lent directly or indirectly to, such French Guarantor and/or its Subsidiaries and in all cases to the extent of the amounts so on-lent remaining due by such French Guarantor and/or its Subsidiaries from time to time (the &#147;Maximum Guaranteed
Amount&#148;); it being specified that any payment made by such French Guarantor under this Article 10 in respect of the obligations of the Issuer shall reduce <I>pro tanto</I> the outstanding amount of the intercompany loans (if any) due by such
French Guarantor to the Issuer under such Indirect Issuance. For the avoidance of doubt, any payment made by a French Guarantor under this clause (B)&nbsp;shall reduce the Maximum Guaranteed Amount by the amount paid. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) It is acknowledged that, notwithstanding any provision to the contrary in this Indenture, no French Guarantor is acting
jointly and severally with the other Guarantors and no French Guarantor shall therefore be considered as &#147;<I><FONT STYLE="white-space:nowrap">co-d&eacute;biteurs</FONT> solidaires</I>&#148; within the meaning of article 1216 of the French
<I>Code civil</I> with the other Guarantors as to its Guarantee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) For the purpose of Section&nbsp;10.02(c)(i) above &#147;Subsidiary&#148;
means, in relation to any company, any other company which is controlled by it within the meaning of article L.233-3 of the French Code de commerce. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the avoidance of doubt, the limitations set out in Section&nbsp;10.02(c)(i) and Section&nbsp;10.02(c)(ii) above with
respect to the payment obligation of any French Guarantor under the Guarantee shall apply mutatis mutandis with respect to any other indemnity, guarantee or any other undertaking of any French Guarantor contained in this Indenture having the same or
a similar effect. Any payment made by a French Guarantor under any such indemnity, guarantee or undertaking shall reduce the Maximum Guaranteed Amount by the amount paid. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding any other provision to the contrary, no French Guarantor shall grant a Guarantee covering any Indebtedness
which would result in such French Guarantor not complying with French financial assistance rules as set out in article L. 225-216 of the French Code de Commerce or any other law or regulations having the same effect, as interpreted by French courts
and/or would constitute a misuse of corporate assets within the meaning of articles L. 241-3, L. 242-6 or L. 244-1 of the French Code de Commerce or any other law or regulations having the same effect, as interpreted by French courts. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) (i) Notwithstanding any contrary indication in this Indenture, in relation to a Guarantor organized under the laws of
Switzerland (a &#147;Swiss Guarantor&#148;), its Guarantee and any other indemnity, security or other benefit, as well as any other undertaking contained in this Indenture having the same or a similar effect, such as, but not limited to, the waiver
of set-off or subrogation rights or the subordination of intra-group claims, under this Indenture and the Securities for, or with respect to, obligations of any other obligor (other than the direct or indirect Subsidiaries of such Swiss Guarantor)
shall not exceed at any time the amount of such Swiss Guarantor&#146;s freely disposable equity in accordance with Swiss law, presently being the total shareholder equity less the total of (A)&nbsp;the aggregate share capital and (B)&nbsp;statutory
reserves (including reserves for own shares and revaluations as well as agio). The amount of equity freely disposable shall be determined on the basis of an audited annual or interim balance sheet of the relevant Swiss Guarantor. This limitation
shall only apply to the extent it is a requirement under applicable law at the time the respective Swiss Guarantor is required to perform. Such limitation shall not free the respective Swiss Guarantor from its obligations in excess of the freely
disposable equity, but merely postpone the performance date therefor until such times as performance is again permitted notwithstanding such limitation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) If so required under applicable law (including double tax treaties) at the time it is required to make a payment under
this Indenture, each Swiss Guarantor: (A)&nbsp;may deduct the withholding tax due under the Swiss Federal Act on the Withholding Tax (the &#147;Withholding Tax&#148;) at the rate of 35&nbsp;per cent (or such other rate as is in force at that time)
from any payment deemed to be a constructive dividend; (B)&nbsp;may pay the Withholding Tax to the Swiss Federal Tax Administration; and (C)&nbsp;shall notify and provide evidence to the Trustee that the Withholding Tax has been paid to the Swiss
Federal Tax Administration. The </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
respective Swiss Guarantor shall as soon as possible after the deduction of the Withholding Tax ensure that any Person which is, as a result of a payment under this Indenture, entitled to a full
or partial refund of the Withholding Tax, is in a position to apply for such refund under any applicable law (including double tax treaties) and, in case it has received any refund of the Withholding Tax, pay such refund to the Trustee for the
benefit of the Holders upon receipt thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Each Swiss Guarantor shall, and any shareholder of such Swiss Guarantor
being a party hereto shall procure that such Swiss Guarantor will, take and cause to be taken all and any other action, including without limitation, (A)&nbsp;preparation of an up-to-date audited balance sheet of such Swiss Guarantor, (B)&nbsp;the
passing of any shareholders&#146; resolutions to approve any payment or other performance under this Indenture or the Securities and (C)&nbsp;the obtaining of any confirmations (including confirmations by the respective Swiss Guarantor&#146;s
auditors) which may be required as a matter of Swiss mandatory law in force at the time the respective Swiss Guarantor is required to make a payment or perform other obligations under this Indenture or the Securities in order to allow a prompt
payment as well as the performance of other obligations under this Indenture or the Securities with a minimum of limitations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) If the enforcement of obligations of a Swiss Guarantor would be limited due to the effects referred to in this clause, the
Swiss Guarantor affected shall further, to the extent permitted by applicable law and Swiss accounting standards, write up any of its assets that are shown in its balance sheet with a book value that is significantly lower than the market value of
the assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.03 <U>Automatic Termination of Guarantees</U>. A Guarantee as to any Guarantor shall automatically terminate and
be of no further force or effect and such Guarantor shall automatically be deemed to be released from all obligations under this Article&nbsp;10 upon: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (A) the sale, disposition or other transfer (including through merger or consolidation) of (x)&nbsp;the Capital Stock of
the applicable Guarantor to a Person who is not (either before or after giving effect to the transaction) the Issuer or a Restricted Subsidiary of the Issuer, following which the applicable Guarantor is no longer a Restricted Subsidiary or
(y)&nbsp;all or substantially all of the assets of such Guarantor, in each case, if such sale, disposition or other transfer is not prohibited by this Indenture, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Issuer designating such Guarantor to be an Unrestricted Subsidiary in accordance with the provisions set forth under
Section&nbsp;4.04 and the definition of &#147;Unrestricted Subsidiary,&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in the case of any Restricted Subsidiary
that after the Issue Date is required to guarantee the Securities pursuant to Section&nbsp;4.11, the release or discharge of the guarantee by such Restricted Subsidiary of the Indebtedness of the Issuer or any Guarantor, as the case may be, or the
repayment of the Indebtedness or Disqualified Stock, in each case, which resulted in the obligation to guarantee the Securities, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) the Issuer&#146;s exercise of its defeasance option under Article 8, or if the Issuer&#146;s obligations under this
Indenture are discharged in accordance with the terms of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In connection with the termination of any Guarantee pursuant to this Section&nbsp;10.03, the
Trustee shall execute and deliver to the Issuer and any Guarantor, at the Issuer or such Guarantor&#146;s expense, all documents that the Issuer or such Guarantor shall reasonably request to evidence such termination; provided, however, that the
Trustee shall be entitled to receive an Officer&#146;s Certificate and an Opinion of Counsel regarding such release before executing and delivering such documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.04 <U>Successors and Assigns</U>. This Article 10 shall be binding upon each Guarantor and its successors and assigns and shall
inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in
the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.05 <U>No Waiver</U>. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power
or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the
Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 10 at law, in equity, by statute or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.06 <U>Modification</U>. No modification, amendment or waiver of any provision of this Article 10, nor the consent to any departure
by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee (acting in accordance with the terms and conditions of this Indenture), and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other circumstances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.07 <U>Execution of Supplemental Indenture for Future Guarantors</U>. Each Subsidiary and other Person which is required to become a
Guarantor pursuant to Section&nbsp;4.11 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit B hereto pursuant to which such Subsidiary or other Person shall become a Guarantor under this Article 10 and
shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate to the effect that such supplemental indenture has been
duly authorized, executed and delivered by such Subsidiary or other Person and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws relating to creditors&#146; rights
generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.08 <U>Non-Impairment</U>. The failure to endorse a Guarantee on any Security shall not affect or impair the validity thereof.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 11 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MISCELLANEOUS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
11.01 <U>Ranking</U>. The indebtedness evidenced by the Securities will be unsecured senior Indebtedness of the Issuer, equal in right of payment to all existing and future senior Indebtedness of the Issuer and senior in right of payment to all
existing and future Subordinated Indebtedness of the Issuer. The indebtedness evidenced by the Guarantees will be unsecured senior Indebtedness of the applicable Guarantor, equal in right of payment to all existing and future senior Indebtedness of
such Guarantor and senior in right of payment to all existing and future Subordinated Indebtedness of such Guarantor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.02
<U>[Reserved]</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.03 <U>Notices</U>. (a)&nbsp;Any notice or communication required or permitted hereunder shall be in writing
and in English and delivered in person, via facsimile or mailed by first-class mail addressed as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">if to the Issuer or a
Guarantor: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tupolevlaan 41-61 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1119 NW
Schiphol-Rijk </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Amsterdam, Netherlands </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax: +31
20 654 97 96 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email: mark.kirkland@constellium.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">With a copy to </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Constellium
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Washington Plaza &#150; 40/44, rue Washington </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">75008 Paris, France </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn:
Jeremy Leach </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tel: +33 1 73 01 46 51 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email: jeremy.leach@constellium.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Constellium Switzerland A.G. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Max H&ouml;gger-Strasse 6 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">8048
Z&uuml;rich, Switzerland </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland, Group Treasurer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tel: +41 44 438 6642 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email:
mark.kirkland@constellium.com </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">And </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Wachtell, Lipton, Rosen&nbsp;&amp; Katz </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">51 West 52<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP> Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New York, NY 10019 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Josh
A. Feltman </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Tel:&nbsp;&nbsp;&nbsp;(212) 403-1109 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax:&nbsp;&nbsp;(212) 403-2109 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Email: jafeltman@wlrk.com </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">if
to the Trustee: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Deutsche Bank Trust Company Americas </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">60 Wall Street, 16th Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Mail Stop: NYC60-1630 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">New
York, New York 10005 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Corporates Team Deal Manager &#150; Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax: 732-578-4635 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">With a copy
to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Deutsche Bank Trust Company Americas </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">c/o Deutsche Bank National Trust Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">100 Plaza One, Mailstop JCY03-0699 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Jersey City, New Jersey 07311 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attn: Corporates Team Deal Manager &#150; Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Fax: 732-578-4635 </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">if to the
Paying Agent: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Deutsche Bank AG, London Branch </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Winchester House </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">1 Great
Winchester Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">London EC2N 2DB </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">United Kingdom </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attention of:
Debt&nbsp;&amp; Agency Services </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: +44 (0)&nbsp;20 7547 6149 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">if to the Registrar and Transfer Agent: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Deutsche Bank Luxembourg S.A. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">2, boulevard Konrad Adenauer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">L-1115 Luxembourg </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Attention
of: Lux Registrar </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Facsimile: +352473136 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Any notice or communication mailed to a Holder shall be mailed, first class mail, to the Holder at the Holder&#146;s
address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee are effective only if received. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.04 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.05 <U>Certificate and Opinion as to Conditions Precedent</U>. Upon any request or application by the Issuer to the Trustee to take
or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) an Officer&#146;s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers,
all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such
conditions precedent have been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.06 <U>Statements Required in Certificate or Opinion</U>. Each certificate or
opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section&nbsp;4.09) shall include: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a statement that the individual making such certificate or opinion has read such covenant or condition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a statement that, in the opinion of such individual, he has made
such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with;
<I>provided</I>, <I>however</I>, that with respect to matters of fact an Opinion of Counsel may rely on an Officer&#146;s Certificate or certificates of public officials. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.07 <U>When Securities Disregarded</U>. In determining whether the Holders of the required principal amount of Securities have
concurred in any direction, waiver or consent, Securities owned by the Issuer, any Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any Guarantor shall be
disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a Responsible Officer of the Trustee actually
knows are so owned shall be so disregarded. Subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.08 <U>Rules by Trustee, Paying Agent and Registrar</U>. The Trustee may make
reasonable rules for action by or a meeting of the Holders. The Registrar and a Paying Agent may make reasonable rules for their functions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.09 <U>Legal Holidays</U>. If a payment date is not a Business Day, payment shall be made on the next succeeding day that is a
Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the intervening period. If a regular record date is not a Business Day, the record date shall not be
affected. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.10 <U>GOVERNING LAW</U>. THIS INDENTURE, THE SECURITIES AND THE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.11 <U>Consent to
Jurisdiction and Service</U>. In relation to any legal action or proceedings arising out of or in connection with this Indenture, the Securities and the Guarantees, the Trustee (in the case of clauses (a)&nbsp;and (b)&nbsp;below only), the Issuer
and each Guarantor that is organized under laws other than the United States or a state thereof (a)&nbsp;irrevocably submits to the jurisdiction of the federal and state courts in the Borough of Manhattan in the City, County and State of New York,
United States, (b)&nbsp;consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or
proceeding was brought in an inconvenient court and agree not to plead or claim the same, (c)&nbsp;designates and appoints Constellium U.S. Holdings I, LLC, 830 Third Avenue, 9th floor, New York, NY 10022 as its authorized agent upon which process
may be served in any such action or proceeding that may be instituted in any such court and (d)&nbsp;agrees that service of any process, summons, notice or document by U.S. registered mail addressed to such agent for service of process, with written
notice of said service to such Person at the address of the agent for service of process set forth in clause (c)&nbsp;of this Section&nbsp;11.11 shall be effective service of process for any such action or proceeding brought in any such court. Each
of the Issuer, the Guarantors, the Trustee, Paying Agent and Registrar hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this
Indenture, the Securities or the transactions contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.12 <U>Currency Indemnity</U>. The Euro is the sole currency
of account and payment for all sums payable by the Issuer or any Guarantor under or in connection with the Securities, including damages. Any amount with respect to the Securities or the Guarantees thereof received or recovered in a currency other
than Euro, whether as a result of, or the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or any Guarantor or otherwise by any Holder or by the Trustee, in respect of any sum
expressed to be due to it from the Issuer or any Guarantor will only constitute a discharge to the Issuer or any Guarantor to the extent of the Euro amount that the recipient is able to purchase with the amount so received or recovered in such other
currency on the date of such receipt or recovery (or, if it is not practicable to make such purchase on such date, on the first date on which it is practicable to do so). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If that Euro amount is less than the Euro amount expressed to be due to the recipient or the
Trustee under the Securities, the Issuer and each Guarantor will indemnify such recipient and/or the Trustee against any loss sustained by it as a result. In any event, the Issuer and each Guarantor will indemnify the recipient against the cost of
making any such purchase. For the purposes of this Section&nbsp;11.12, it shall be prima facie evidence of the matter stated therein, for the Holder of a Security or the Trustee to certify in a manner satisfactory to the Issuer (indicating the
sources of information used) the loss it incurred in making any such purchase. These indemnities constitute a separate and independent obligation from the Issuer&#146;s and each Guarantor&#146;s other obligations, shall give rise to a separate and
independent cause of action, shall apply irrespective of any waiver granted by any Holder of a Security or the Trustee (other than a waiver of the indemnities set out herein) and will continue in full force and effect despite any other judgment,
order, claim or proof for a liquidated amount in respect of any sum due under any Security or to the Trustee. For the purposes of this Section&nbsp;11.12, it shall be sufficient for the Trustee or the Holder, as applicable, to certify (indicating
the sources of information used) that it would have suffered a loss had the actual purchase of Euro been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of Euro on such date had not been
practicable due to current market conditions generally, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.13 <U>No Recourse Against Others</U>. No director, officer, employee, manager or incorporator of, or holder of any Equity Interests
in, the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuer under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.14 <U>Successors</U>. All agreements of the Issuer and each Guarantor in this Indenture and the Securities shall bind its
successors. All agreements of the Trustee in this Indenture shall bind its successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.15 <U>USA PATRIOT Act Section&nbsp;326
Customer Identification Program</U>. The parties hereto acknowledge that in order to help the United States government fight the funding of terrorism and money laundering activities, pursuant to Federal regulations that became effective on
October&nbsp;1, 2003 (Section 326 of the USA PATRIOT Act) all financial institutions are required to obtain, verify, record and update information that identifies each person establishing a relationship or opening an account. The parties to this
Indenture agree that they will provide to the Trustee such information as it may request, from time to time, in order for the Trustee to satisfy the requirements of the USA PATRIOT Act, including but not limited to the name, address, tax
identification number and other information that will allow it to identify the individual or entity who is establishing the relationship or opening the account and may also ask for formation documents such as articles of incorporation or other
identifying documents to be provided. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.16 <U>Multiple Originals</U>. The parties may sign any number of copies of this
Indenture by manual, facsimile, pdf or other electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.17 <U>Table of Contents; Headings</U>. The table of contents, cross-reference sheet
and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.18 <U>Indenture Controls</U>. If and to the extent that any provision of the Securities limits, qualifies or conflicts with a
provision of this Indenture, such provision of this Indenture shall control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.19 <U>Severability</U>. In case any provision in
this Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Pages Follow</I>] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM N.V.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>GUARANTORS</U></B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM HOLDCO II B.V.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM US HOLDINGS I, LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Yves Monette</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Yves Monette</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: CFO &amp; Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FRANCE HOLDCO S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM GERMANY HOLDCO GMBH&nbsp;&amp; CO. KG</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM SWITZERLAND AG</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM ROLLED PRODUCTS &#150; RAVENSWOOD, LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Derek Scantlin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Derek Scantlin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: CFO</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM DEUTSCHLAND GMBH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM SINGEN GMBH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FRANCE S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FINANCE S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>By:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>DEUTSCHE BANK NATIONAL TRUST COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rodney Gaughan</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rodney Gaughan</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Linda Reale</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Linda Reale</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK AG, LONDON BRANCH, as Principal Paying Agent</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mahen Surnam</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Mahen Surnam</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: VP</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David Contino</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: David Contino</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK LUXEMBOURG S.A., as Registrar and Transfer Agent</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ F. Hopkinson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: F. Hopkinson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Attorney</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mahen Surnam</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Mahen Surnam</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Attorney</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>PROVISIONS RELATING TO ORIGINAL SECURITIES AND ADD-ON SECURITIES </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Definitions</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1. <U>Definitions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">For the purposes of this Appendix A the following terms shall have the meanings indicated below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Common Depositary&#148; means a depositary common to Euroclear and Clearstream, being initially Deutsche Bank AG, London branch, until
a successor Common Depositary, if any, shall have become such pursuant to this Indenture, and thereafter Common Depositary shall mean or include each Person who is then a Common Depositary hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Definitive Security&#148; means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is
restricted by applicable law) that does not include the Global Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Depository&#148; means Euroclear Bank SA/NV
(&#147;Euroclear&#148;) and for Clearstream Banking, <I>soci&eacute;t&eacute; anonyme </I>(&#147;Clearstream&#148;), its nominees and their respective successors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Global Securities Legend&#148; means the legend set forth under that caption in the applicable Exhibit to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;IAI&#148; means an institutional &#147;accredited investor&#148; as described in Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the
Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Initial Purchasers&#148; means Deutsche Bank Securities Inc., BNP Paribas, Goldman, Sachs&nbsp;&amp; Co., HSBC
Bank plc, HSBC Securities (USA) Inc., Morgan Stanley&nbsp;&amp; Co. LLC, Natixis, Natixis Securities Americas LLC, Soci&eacute;t&eacute; G&eacute;n&eacute;rale and such other initial purchasers listed on Schedule A to the Purchase Agreement entered
into in connection with the offer and sale of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;QIB&#148; means a &#147;qualified institutional buyer&#148; as
defined in Rule 144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S&#148; means Regulation S under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S Securities&#148; means all Securities offered and sold outside the United States in reliance on Regulation&nbsp;S. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Period,&#148; with respect to any Securities, means the period of 40 consecutive days beginning on and including the later
of (a)&nbsp;the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given by the Issuer to the
Trustee, and (b)&nbsp;the Issue Date, and with respect to any Add-On Securities that are Transfer Restricted Securities, it means the comparable period of 40 consecutive days. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Securities Legend&#148; means the legend set forth in Section&nbsp;2.2(f)(i)
herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 501&#148; means Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A&#148; means Rule 144A under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A Securities&#148; means all Securities offered and sold to QIBs in reliance on Rule 144A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Transfer Restricted Securities&#148; means Definitive Securities and any other Securities that bear or are required to bear or are
subject to the Restricted Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Definitive Security&#148; means Definitive Securities and any other
Securities that are not required to bear, or are not subject to, the Restricted Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Global
Security&#148; means a Global Security which is not a Restricted Global Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2. <U>Other Definitions</U>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="67%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD WIDTH="14%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><U>Term</U>:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><U>Defined&nbsp;in&nbsp;Section</U>:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Regulation S Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Rule 144A Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)(i)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>The Securities</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1.<U> Form and Dating; Global Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Original Securities issued on the date hereof will be (i)&nbsp;offered and sold by the Issuer pursuant to the Purchase Agreement and
(ii)&nbsp;resold, initially only to (1)&nbsp;QIBs in reliance on Rule 144A and (2)&nbsp;Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Original Securities may thereafter be transferred to, among
others, QIBs, purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. Add-On Securities offered after the date hereof may be offered and sold by the Issuer from time to time pursuant to one or more
purchase agreements in accordance with applicable law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Global Securities</U>. (i)&nbsp;Rule 144A Securities initially shall be
represented by one or more Securities in definitive, fully registered, global form without interest coupons (collectively, the &#147;Rule 144A Global Securities&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Regulation S Securities initially shall be represented by one or more Securities in fully registered, global form without
interest coupons (collectively, the &#147;Regulation S Global Securities&#148;), which shall be registered in the name of the Common Depositary or the nominee of the Common Depositary for the accounts of designated agents holding on behalf of
Euroclear or Clearstream. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Restricted Period shall be terminated upon the receipt by the Trustee and
the Paying Agent of: (1)&nbsp;a written certificate from the Depository, together with copies of certificates from Euroclear and Clearstream certifying that they have received certification of non-United States beneficial ownership of 100% of the
aggregate principal amount of the Regulation S Temporary Global Security (except to the extent of any beneficial owners thereof who acquired an interest therein during the Restricted Period pursuant to another exemption from registration under the
Securities Act and who shall take delivery of a beneficial ownership interest in a 144A Global Security bearing a Private Placement Legend, all as contemplated by this Appendix&nbsp;A); and (2)&nbsp;upon certification in form reasonably satisfactory
to the Trustee and the Paying Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The provisions of the &#147;Operating Procedures of the Euroclear System&#148; and
&#147;Terms and Conditions Governing Use of Euroclear&#148; and the &#147;General Terms and Conditions of Clearstream Banking&#148; and &#147;Customer Handbook&#148; of Clearstream shall be applicable to transfers of beneficial interests in the
Global Securities that are held by participants through Euroclear or Clearstream. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The term &#147;Global Securities&#148;
means the Rule 144A Global Securities and the Regulation S Global Securities. The Global Securities shall bear the Global Security Legend. The Global Securities initially shall (i)&nbsp;be registered in the name of the Common Depositary or the
nominee of such Depository, in each case for credit to an account of an Agent Member, (ii)&nbsp;be delivered to the Common Depositary and (iii)&nbsp;bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Members of, or direct or indirect participants in, the Depository shall have no rights under this Indenture with respect
to any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Securities. The Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner
of the Global Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other
authorization furnished by the Depository, or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security.Transfers of Global Securities shall be
limited to transfer in whole, but not in part, to the Depository, its successors or their respective nominees. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Definitive Securities only if (x)&nbsp;the
Depository (1)&nbsp;notifies the Issuer that it is unwilling or unable to continue as depository for such Global Security and the Issuer thereupon fails to appoint a successor depository or (2)&nbsp;the Issuer, at its option, notifies the Trustee
and applicable Paying Agent in writing that it elects to cause the issuance of certificated Securities or (y)&nbsp;there shall have occurred and be continuing an Event of Default with respect to such Global Security; provided that in no event shall
the Regulation S Global Securities be exchanged by the Issuer for Definitive Securities prior to (x)&nbsp;the expiration of the Restricted Period and (y)&nbsp;the receipt by the Registrar of any certificates required pursuant to Rule
903(b)(3)(ii)(B) under the Securities Act. In all cases, Definitive Securities delivered in exchange for any Global Security or beneficial interests therein shall be registered in the names, and issued in any approved denominations, requested by or
on behalf of the Depository in accordance with its customary procedures. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) In connection with the transfer of a Global Security as an entirety to
beneficial owners pursuant to subsection (i)&nbsp;of this Section&nbsp;2.1(b), such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and the Trustee shall authenticate and make
available for delivery, to each beneficial owner identified by the Depository in writing in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Transfer Restricted Security delivered in exchange for an interest in a Global Security pursuant to Section&nbsp;2.2
shall, except as otherwise provided in Section&nbsp;2.2, bear the Restricted Securities Legend. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding the
foregoing, through the Restricted Period, a beneficial interest in such Regulation S Global Security may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of Section&nbsp;2.2. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) The Holder of any Global Security may grant proxies and otherwise authorize any Person, including Agent Members and
Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2. <U>Transfer and Exchange</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Transfer and Exchange of Global Securities</U>. A Global Security may not be transferred as a whole except as set forth in
Section&nbsp;2.1(b). Global Securities will not be exchanged by the Issuer for Definitive Securities except under the circumstances described in Section&nbsp;2.1(b)(ii). Global Securities also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.08 and 2.10 of this Indenture. Beneficial interests in a Global Security may be transferred and exchanged as provided in Section&nbsp;2.2(b) or 2.2(g). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Transfer and Exchange of Beneficial Interests in Global Securities</U>. The transfer and exchange of beneficial interests in the Global
Securities shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Transfer Restricted Securities which are Global Securities
(&#147;Restricted Global Securities&#148;) shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in Global Securities shall be transferred or exchanged
only for beneficial interests in Global Securities. Transfers and exchanges of beneficial interests in the Global Securities also shall require compliance with either subparagraph (i)&nbsp;or (ii)&nbsp;below, as applicable, as well as one or more of
the other following subparagraphs, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer of Beneficial Interests in the Same Global
Security</U>. Beneficial interests in any Restricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Security in accordance with the transfer restrictions set
forth in the Restricted Securities </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
Legend; <I>provided</I>, <I>however</I>, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Security may not be made to a U.S.
Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). A beneficial interest in an Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an
Unrestricted Global Security. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section 2.2(b)(i). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>All Other Transfers and Exchanges of Beneficial Interests in Global Securities</U>. In connection with all transfers
and exchanges of beneficial interests in any Global Security that is not subject to Section&nbsp;2.2(b)(i), the transferor of such beneficial interest must deliver to the Registrar (1)&nbsp;a written order from an Agent Member given to the
Depository in accordance with the applicable rules and procedures of the Depository directing the Depository to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be
transferred or exchanged and (2)&nbsp;instructions given in accordance with the applicable rules and procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all
of the requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Securities or otherwise applicable under the Securities Act, the Registrar shall adjust the principal amount of the
relevant Global Security pursuant to Section&nbsp;2.2(g). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Transfer of Beneficial Interests to Another Restricted
Global Security</U>. A beneficial interest in a Restricted Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Security if the transfer complies with the
requirements of Section&nbsp;2.2(b)(ii) above and the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transferee will take
delivery in the form of a beneficial interest in a Rule 144A Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Security, then the
transferor must deliver a certificate in the form attached to the applicable Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Transfer and Exchange of
Beneficial Interests in a Restricted Global Security for Beneficial Interests in an Unrestricted Global Security</U>. A beneficial interest in a Restricted Global Security may be exchanged by any holder thereof for a beneficial interest in an
Unrestricted Global Security or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of Section&nbsp;2.2(b)(ii) above
and the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the holder of such beneficial interest in a Restricted Global Security
proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the holder of such beneficial interest in a Restricted Global Security proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and
procedures of the Depository so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained
herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph (iv)&nbsp;at a time when an Unrestricted Global
Security has not yet been issued, the Issuer shall issue and, upon receipt of an written order of the Issuer in the form of an Officer&#146;s Certificate in accordance with Section&nbsp;2.01, the Trustee shall, upon receipt of a Written Order,
authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred or exchanged pursuant to this subparagraph (iv). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Transfer and Exchange of Beneficial Interests in an Unrestricted Global Security for Beneficial Interests in a
Restricted Global Security</U>. Beneficial interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Transfer and Exchange of Beneficial Interests in Global Securities for Definitive Securities</U>. A beneficial interest in a Global
Security may not be exchanged for a Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). A beneficial interest in a Global Security may not be transferred to a Person who takes delivery thereof in the form of a
Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). In any case, beneficial interests in Global Securities shall be transferred or exchanged only for Definitive Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Transfer and Exchange of Definitive Securities for Beneficial Interests in Global Securities</U>. Transfers and exchanges of beneficial
interests in the Global Securities also shall require compliance with either subparagraph (i), (ii)&nbsp;or (ii)&nbsp;below, as applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Beneficial Interests in Restricted Global Securities</U>. If any Holder of a Transfer
Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security or to transfer such Transfer Restricted Security to a Person who takes delivery thereof in the form of a beneficial
interest in a Restricted Global Security, then, upon receipt by the Registrar of the following documentation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security, a certificate from such Holder in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such Transfer Restricted Security is being transferred to a Qualified
Institutional Buyer in accordance with Rule 144A under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such Transfer Restricted Security is being transferred to a Non U.S. Person in an offshore transaction in accordance
with Rule 903 or Rule 904 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such Transfer Restricted Security is being transferred pursuant to an exemption from the registration requirements of
the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such Transfer Restricted Security is being transferred to an Institutional Accredited Investor in reliance on an
exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B)&nbsp;through (D)&nbsp;above, a certificate from such Holder in the form attached to the applicable Security, including the
certifications, certificates and Opinion of Counsel, if applicable; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such Transfer Restricted Security is being
transferred to the Issuer or a Subsidiary thereof, a certificate from such Holder in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">the
Registrar shall cancel the Transfer Restricted Security, and increase or cause to be increased the aggregate principal amount of the appropriate Restricted Global Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Beneficial Interests in Unrestricted Global Securities</U>. A Holder of a Transfer
Restricted Security that is a Definitive Security may exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security or transfer such Transfer Restricted Security to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security only if the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Transfer Restricted Securities proposes to transfer such Transfer Restricted Security to a Person
who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall
cancel the Transfer Restricted Securities and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Security. If any such transfer or exchange is effected pursuant to this subparagraph (ii)&nbsp;at a time when
an Unrestricted Global Security has not yet been issued, the Issuer shall issue and, upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global
Securities in an aggregate principal amount equal to the aggregate principal amount of Transfer Restricted Securities transferred or exchanged pursuant to this subparagraph (ii). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities</U>. A Holder of an
Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Unrestricted Definitive Security to a Person who takes delivery thereof in the form of
a beneficial interest in an Unrestricted Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Security and increase or cause to be increased the
aggregate principal amount of one of the Unrestricted Global Securities. If any such transfer or exchange is effected pursuant to this subparagraph (iii)&nbsp;at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall
issue and, upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount
of Unrestricted Definitive Securities transferred or exchanged pursuant to this subparagraph (iii). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Unrestricted
Definitive Securities to Beneficial Interests in Restricted Global Securities</U>. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a
Restricted Global Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Transfer and Exchange of Definitive Securities for Definitive Securities</U>. Upon request by a Holder
of Definitive Securities and such Holder&#146;s compliance with the provisions of this Section&nbsp;2.2(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the
requesting Holder shall present or surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly
authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section&nbsp;2.2(e). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Transfer Restricted Securities</U>. A Transfer Restricted Security may be transferred
to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a
certificate in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transfer will be made pursuant to Rule&nbsp;903 or Rule&nbsp;904
under the Securities Act, then the transferor must deliver a certificate in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if the transfer will be made pursuant to an exemption from the registration requirements of the Securities Act in
accordance with Rule&nbsp;144 under the Securities Act, a certificate in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if the transfer will be made to an IAI in reliance on an exemption from the registration requirements of the Securities
Act other than those listed in subparagraphs (A)&nbsp;through (D)&nbsp;above, a certificate in the form attached to the applicable Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such transfer will be made to the Issuer or a Subsidiary thereof, a certificate in the form attached to the applicable
Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Unrestricted Definitive Securities</U>. Any Transfer Restricted
Security may be exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for an
Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)
if the Holder of such Transfer Restricted Security proposes to transfer such Securities to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the
applicable Security, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Unrestricted Definitive Securities</U>. A Holder of an
Unrestricted Definitive Security may transfer such Unrestricted Definitive Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security at any time. Upon receipt of a request to register such a transfer, the
Registrar shall register the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Unrestricted Definitive
Securities to Transfer Restricted Securities</U>. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global
Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with Section&nbsp;2.11 of this Indenture. At any time prior to such
cancellation, if any beneficial interest in a Global Security is exchanged </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the principal amount of Securities
represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial interest
is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such
Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Legend</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Except as permitted by the following paragraph (ii), (iii)&nbsp;or (iv), each Security certificate evidencing the Global
Securities and the Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the
legend only): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND
THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE WITH AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE
DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY
EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE&nbsp;144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE
SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(a)&nbsp;TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED
IN RULE&nbsp;144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON
IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;904 UNDER THE SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO
REQUESTS), SUBJECT TO THE RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED
HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional legends: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY
REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS SECURITY (OR ITS PREDECESSOR)
WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF,
ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION&nbsp;S UNDER THE SECURITIES
ACT.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Upon any sale or transfer of a Transfer Restricted Security that is a Definitive Security, the Registrar
shall permit the Holder thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Security if the Holder
certifies in writing to the Registrar that its request for such exchange was made in reliance on Rule&nbsp;144 (such certification to be in the form set forth on the reverse of the Security). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Upon a sale or transfer after the expiration of the Restricted Period of any Security acquired pursuant to
Regulation&nbsp;S, all requirements that such Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such Security be issued in global form shall continue to apply. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Add-On Securities sold in a registered offering shall not be required to bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Cancellation or Adjustment of Global Security</U>. At such time as all beneficial interests in a particular Global Security have been
exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with
Section&nbsp;2.11 of this Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
form of a beneficial interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by
the Depository at the direction of the Trustee to reflect such increase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Obligations with Respect to Transfers and Exchanges of
Securities</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall
authenticate, Definitive Securities and Global Securities at the Registrar&#146;s request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) No service charge shall
be made for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes,
assessments or similar governmental charge payable upon exchanges pursuant to Sections&nbsp;3.06, 4.06, 4.08 and&nbsp;9.05 of this Indenture). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Prior to the due presentation for registration of transfer of any Security, the Issuer, the Trustee, a Paying Agent or
the Registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuer, the Trustee, the Paying Agent or the Registrar shall be affected by notice to the contrary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt
and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>No
Obligation of the Trustee</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) None of the Trustee, Registrar or Paying Agent shall have any responsibility or
obligation to any beneficial owner of a Global Security, a member of, or a participant in the Depository or any other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with
respect to any ownership interest in the Securities or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the
payment of any amount, under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to the Holders under the Securities shall be given or made only to the registered Holders (which
shall be the Depository or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The
Trustee, Registrar or Paying Agent may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its members, participants and any beneficial owners. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) None of the Trustee, Registrar or Paying Agent shall have any obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
interest in any Security (including any transfers between or among Depository participants, members or beneficial owners in any Global Security) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express
requirements hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF FACE OF ORIGINAL OR ADD-ON SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Global Securities Legend] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY (AS DEFINED IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF BT GLOBENET NOMINEES LTD OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON (AND ANY PAYMENT IS MADE TO BT GLOBENET NOMINEES LTD, OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, BT GLOBENET NOMINEES LTD, HAS AN INTEREST HEREIN. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO THE COMMON DEPOSITARY, TO NOMINEES OF THE COMMON DEPOSITARY OR
TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR&#146;S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Restricted Securities Legend] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE WITH AN
APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION&nbsp;5 OF THE SECURITIES ACT PROVIDED
BY RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(a)&nbsp;TO A
PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE&nbsp;144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF
RULE&nbsp;144 UNDER THE </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;904 UNDER THE SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), SUBJECT TO THE RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT
THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR
ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional legends: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY REASONABLY REQUIRE TO
CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY
EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION&nbsp;S UNDER THE SECURITIES ACT. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF ORIGINAL SECURITY] </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="50%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="49%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">No.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">&#128;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4.625% Senior Note due 2021 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">ISIN No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Common&nbsp;Code&nbsp;No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Constellium N.V., a public company with limited liability (<I>naamloze vennootschap</I>) incorporated under
the laws of The Netherlands, promises to pay to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, or registered assigns, the principal sum [of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Euro] [listed on the Schedule of Increases or Decreases in Global Security attached hereto]<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> on May&nbsp;15, 2021. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Interest Payment Dates: May&nbsp;15 and November&nbsp;15 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Record Dates: May&nbsp;1 and November&nbsp;1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Additional provisions of this Security are set forth on the other side of this Security. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Use the Schedule of Increases and Decreases language if Security is in Global Form. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">CONSTELLIUM N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">REGISTRAR&#146;S CERTIFICATE OF<BR>AUTHENTICATION</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEUTSCHE BANK LUXEMBOURG S.A.,<BR>as Authenticating Agent, certifies that this is one of the Securities referred to in the
Indenture.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Authorized Signatory</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><U>*</U>/</TD>
<TD ALIGN="left" VALIGN="top">If the Security is to be issued in global form, add the Global Securities Legend and the attachment from Exhibit&nbsp;A captioned &#147;TO BE ATTACHED TO GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY&#148;. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF REVERSE SIDE OF ORIGINAL SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4.625% Senior Note due 2021 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Interest</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">CONSTELLIUM N.V., a public company with limited liability (<I>naamloze
vennootschap</I>) incorporated under the laws of The Netherlands (together with its successors and assigns under the Indenture hereinafter referred to, the &#147;Issuer&#148;), promises to pay interest on the principal amount of this Security
semiannually in arrears on each May&nbsp;15 and November&nbsp;15 commencing on &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;, 20&nbsp;&nbsp;&nbsp;&nbsp;. Interest on the Securities will accrue from
the Issue Date or the most recent date to which interest has been paid or provided for until the principal hereof is due. Interest shall be computed on the basis of a <FONT STYLE="white-space:nowrap">360-day</FONT> year of twelve <FONT
STYLE="white-space:nowrap">30-day</FONT> months. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Interest on the Securities will accrue at a rate of 4.625%&nbsp;per annum, payable
semiannually in arrears. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities are originally issued. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>Method of Payment</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on the Securities (except defaulted
interest) to the Persons who are registered Holders at the close of business on the May&nbsp;1 or November&nbsp;1 immediately preceding the interest payment date even if Securities are canceled after the record date and on or before the interest
payment date (whether or not a Business Day). Holders must surrender Securities to the Paying Agent to collect principal payments. The Issuer shall pay principal, premium, if any, and interest in Euros, or such other money of the European Union that
at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately
available funds to the accounts specified by Common Depositary or any successor depositary. The Issuer shall make all payments in respect of a certificated Security (including principal, premium, if any, and interest), at the office or agency of the
Paying Agent within (i)&nbsp;the City of London or (ii)&nbsp;Luxembourg, for so long as the Notes are listed on the Euro MTF of the Luxembourg Stock Exchange, but only if the rules of the Luxembourg Stock Exchange so require. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><U>Paying Agent; Registrar; Transfer Agent; Common Depositary</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Initially, Deutsche Bank
AG, London Branch, will act as Paying Agent and Common Depositary and Deutsche Bank Luxembourg S.A. will act as Registrar, Transfer Agent and Authenticating Agent. The Issuer may appoint and change any Paying Agent, Registrar or Transfer Agent
without notice. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><U>Indenture</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer issued the Securities under an Indenture dated as of May&nbsp;7,
2014 (the &#147;Indenture&#148;), among the Issuer, the Guarantors party thereto (the &#147;Guarantors&#148;) and the Trustee. The terms of the Securities include those stated in the Indenture. Terms defined in the Indenture and not defined herein
have the meanings ascribed thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and the Holders (as defined in the Indenture) are referred to the Indenture for a statement of such terms and provisions.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities are senior unsecured obligations of the Issuer. This Security is one of the Original Securities referred to in the
Indenture. The Securities include the Original Securities and any issued <FONT STYLE="white-space:nowrap">Add-On</FONT> Securities. The Original Securities and any <FONT STYLE="white-space:nowrap">Add-On</FONT> Securities are treated as a single
series of securities under the Indenture. The Indenture imposes certain limitations on the ability of the Issuer and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other
distributions, incur Indebtedness, enter into consensual restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of Capital Stock of the Issuer and such Restricted Subsidiaries,
enter into or permit certain transactions with Affiliates, create or incur Liens and make Asset Sales. The Indenture also imposes limitations on the ability of the Issuer and each Guarantor to consolidate or merge with or into any other Person or
convey, transfer or lease all or substantially all of its property. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">To guarantee the due and punctual payment of the principal and
interest on the Securities and all other amounts payable by the Issuer under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities
and the Indenture, the Guarantors have, jointly and severally, unconditionally guaranteed the Guaranteed Obligations on a senior unsecured basis pursuant to the terms of the Indenture. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><U>Optional Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Except as set forth in the following two paragraphs, the
Securities shall not be redeemable at the option of the Issuer prior to May&nbsp;15, 2017. Thereafter, the Securities shall be redeemable at the option of the Issuer, in whole at any time or in part from time to time, upon not less than&nbsp;30 nor
more than 60&nbsp;days&#146; prior notice delivered electronically or by <FONT STYLE="white-space:nowrap">first-class</FONT> mail to each Holder&#146;s registered address, at the following redemption prices (expressed as a percentage of principal
amount), plus accrued and unpaid interest, if any, to the redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the <FONT
STYLE="white-space:nowrap">twelve-month</FONT> period commencing on May&nbsp;15 of the years set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.90pt; font-size:8pt; font-family:Times New Roman"><B>Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption&nbsp;Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.313</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101.156</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2019 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">In addition, prior to May&nbsp;15, 2017, the Issuer may redeem the Securities at its option, in whole at any
time or in part from time to time, upon not less than 30 nor more than 60&nbsp;days&#146; prior notice electronically delivered or mailed by <FONT STYLE="white-space:nowrap">first-class</FONT> mail to each Holder&#146;s registered address, at a
redemption price equal to 100% of the principal amount of the Securities </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant record date to
receive interest due on the relevant interest payment date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, at any time and from time to time prior to
May&nbsp;15, 2017, the Issuer may redeem Securities in an aggregate amount equal to up to 35% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance of
<FONT STYLE="white-space:nowrap">Add-On</FONT> Securities), with an amount equal to the net cash proceeds of one or more Equity Offerings by the Issuer, at a redemption price (expressed as a percentage of principal amount thereof) of 104.625%, plus
accrued and unpaid interest to the redemption date (subject to the right of Holders of record on the relevant record date to receive interest due on the relevant interest payment date); <I>provided</I>, <I>however</I>, that at least 50% of the
original aggregate principal amount of the Securities (calculated after giving effect to any issuance of Add-On Securities) must remain outstanding after each such redemption; and provided, further, that such redemption shall occur within
90&nbsp;days after the date on which any such Equity Offering is consummated upon not less than&nbsp;30 nor more than 60&nbsp;days&#146; notice electronically delivered or mailed to each Holder of Securities being redeemed and otherwise in
accordance with the procedures set forth in the Indenture. Any redemption or notice of any redemption may, at the Issuer&#146;s discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related
Equity Offering, other debt or equity financing, acquisition or other corporate transaction or event, and, at the Issuer&#146;s discretion, the redemption date may be delayed until such time as any or all of such conditions have been satisfied. In
addition, the Issuer may provide in any notice of redemption that payment of the redemption price and the performance of its obligations with respect to such redemption may be performed by another person; <I>provided</I>, <I>however</I>, that the
Issuer will remain obligated to pay the redemption price and perform its obligations with respect to such redemption in the event such other person fails to do so and all conditions to such redemption, if any, are satisfied. Notice of any redemption
in respect of an Equity Offering may be given prior to completion thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If an optional redemption date is on or after an interest
record date and on or before the related interest payment date, the accrued and unpaid interest, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"><U>Redemption for Taxation Reasons</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer may redeem the Securities, at its option,
in whole, but not in part, at any time upon giving not less than&nbsp;30 nor more than 60&nbsp;days prior notice to Holders (which notice shall be irrevocable) at a redemption price equal to 100% of the principal amount of the Securities, together
with accrued and unpaid interest, if any, to (but not including) the date fixed for redemption of such series (a &#147;Tax Redemption Date&#148;) (subject to the right of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date) and all Additional Amounts (as defined in Section&nbsp;11.09 of the Indenture), if any, then due or that will become due on the Tax Redemption Date as a result of the redemption or otherwise, if any, if the Issuer
determines in good faith that, as a result of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a) any change in, or amendment to, the law or treaties (or any regulations, protocols or
rulings promulgated thereunder) of a Relevant Taxing Jurisdiction (as defined in Section&nbsp;2.15 of the Indenture) affecting taxation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b) any change in official position regarding the application, administration or interpretation of such laws, treaties, regulations, protocols
or rulings (including a holding, judgment or order by a government agency or court of competent jurisdiction) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of the foregoing in clauses (1)&nbsp;and (2), a &#147;Change in Tax Law&#148;), any Payor (as defined in
Section&nbsp;2.15 of the Indenture), with respect to the Securities or a Guarantee is, or on the next date on which any amount would be payable in respect of the Securities would be, required to pay any Additional Amounts, and such obligation cannot
be avoided by taking reasonable measures available to such Payor (including the appointment of a new Paying Agent or, where such payment would be reasonable, the payment through another Payor); provided that no Payor shall be required to take any
measures that in the Issuer&#146;s good faith determination would result in the imposition on such person of any legal or regulatory burden (other than any such burden that is de minimis to the Issuer) or the incurrence by such person of additional
costs (other than any such costs that are de minimis to the Issuer) or would otherwise result in any adverse consequences to such person (other than any such adverse consequences that are de minimis). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">In the case of any Payor, the Change in Tax Law must be announced and become effective on or after the date of the Offering Memorandum (or if
the applicable Relevant Tax Jurisdiction becomes a Relevant Tax Jurisdiction on a date after the date of this Offering Memorandum, then such later date). Notwithstanding the foregoing, no such notice of redemption will be given earlier than 90 days
prior to the earliest date on which the Payor would be obligated to make such payment of Additional Amounts. Prior to the publication, mailing or delivery of any notice of redemption of the Securities pursuant to the foregoing, the Issuer will
deliver to the Trustee and applicable Paying Agent (a)&nbsp;an Officer&#146;s Certificate stating that it is entitled to effect such redemption and setting forth a statement of facts showing that the conditions precedent to its right so to redeem
have been satisfied and (b)&nbsp;an opinion of an independent tax counsel of recognized standing to the effect that the Payor would be obligated to pay Additional Amounts as a result of a Change in Tax Law. The Trustee will accept such
Officer&#146;s Certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent described above, in which event it will be conclusive and binding on the Holders of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The foregoing provisions will apply <I>mutatis mutandis</I> to any successor to a Payor. The foregoing provisions will survive any
termination, defeasance or discharge of the Indenture. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"><U>Sinking Fund</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities are not subject to any sinking fund. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice of Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Notice of redemption will be electronically delivered or mailed
by first-class mail at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at his, her or its registered address. Securities in denominations larger than &#128;100,000 may be redeemed in
part but only in whole multiples of $1,000 in excess thereof. If money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with a Paying
Agent on or before the redemption date and certain other conditions are satisfied, on and after such date interest ceases to accrue on such Securities (or such portions thereof) called for redemption. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top">Repurchase of Securities at the Option of the </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Holders upon Change of Control and Asset
Sales</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Upon the occurrence of a Change of Control, each Holder shall have the right, subject to certain conditions specified in the
Indenture, to cause the Issuer to repurchase all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to
the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), as provided in, and subject to the terms of, the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">In accordance with Section&nbsp;4.06 of the Indenture, the Issuer will be required to offer to purchase Securities upon the occurrence of
certain events. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top"><U>Ranking </U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities and the Guarantees are senior unsecured obligations of the
Issuer and the Guarantors and will be of equal ranking with all present and future senior unsecured indebtedness. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"><U>Denominations; Transfer; Exchange</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Securities are in registered form, without
coupons, in denominations of &#128;100,000 and any integral multiple of &#128;1,000 in excess thereof. A Holder shall register the transfer of or exchange of Securities in accordance with the Indenture. Upon any registration of transfer or exchange,
the Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any
Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to a selection of Securities to be
redeemed. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"><U>Persons Deemed Owners</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The registered Holder of this Security shall be treated as the
owner of it for all purposes. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"><U>Unclaimed Money</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If money for the payment of principal or interest remains unclaimed
for two years, the Trustee and a Paying Agent shall pay the money back to the Issuer at their written request unless an abandoned property law designates another Person. After any such payment, the Holders entitled to the money must look to the
Issuer for payment as general creditors and the Trustee and a Paying Agent shall have no further liability with respect to such monies. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top"><U>Discharge and Defeasance</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Subject to certain conditions, the Issuer at any time may
terminate some of or all of its obligations under the Securities and the Indenture if the Issuer deposits with the Trustee money or European Government Obligations for the payment of principal and interest on the Securities to redemption or
maturity, as the case may be. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top"><U>Amendment; Waiver</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Subject to certain exceptions set forth in the Indenture,
(i)&nbsp;the Indenture or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities and (ii)&nbsp;any past default or compliance with any provisions may
be waived with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Issuer and the Trustee may
amend the Indenture or the Securities (i)&nbsp;to cure any ambiguity, omission, mistake, defect or inconsistency; (ii)&nbsp;to provide for the assumption by a Successor Company of the obligations of the Issuer under the Indenture and the Securities;
(iii)&nbsp;to provide for the assumption by a Successor Guarantor of the obligations of a Guarantor under the Indenture and its Guarantee; (iv)&nbsp;to provide for uncertificated Securities in addition to or in place of certificated Securities
(provided that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code, or in a manner such that the uncertificated Securities are described in Section&nbsp;163(f)(2)(B) of the Code); (v)&nbsp;to
add additional Guarantees with respect to the Securities; (vi)&nbsp;to make any change that would provide additional rights or benefits to the Holders or that does not adversely affect the legal rights of the Holders; (vii)&nbsp;to make changes
relating to the transfer and legending of the Securities; (viii)&nbsp;to secure the Securities; (ix)&nbsp;to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred upon the Issuer or any
Guarantor; (x)&nbsp;to make any change that does not adversely affect the rights of any Holder in any material respect; (xi)&nbsp;to effect any provision of the Indenture; (xii)&nbsp;to provide for the issuance of the Add-On Securities, as defined
in the Indenture; (xiii)&nbsp;to evidence and provide for the acceptance and appointment under the Indenture of a successor Trustee thereunder pursuant to the requirements thereof; or (xiv)&nbsp;to conform the text of the Indenture, Guarantees or
Securities to any provision of the section entitled &#147;Description of the Notes&#148; in the Offering Memorandum. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top"><U>Defaults and Remedies</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs (other than an Event of Default
relating to certain events of bankruptcy, insolvency or reorganization of the Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities, in each case, by notice to the Issuer, may declare
the principal of, premium, if any, and accrued but unpaid interest on all the Securities to be due and payable <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be effective until
the earlier of (1)&nbsp;five Business Days after the giving of written notice to the Issuer and the Representative under the Credit Facilities and (2)&nbsp;the day on which any Bank Indebtedness is accelerated. Upon such a declaration, such
principal and interest will be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer occurs, the principal of, premium, if any, and interest on all the Securities
shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may rescind any such
acceleration with respect to the Securities and its consequences. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs and is continuing, the Trustee shall be under no obligation to
exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security satisfactory to the Trustee against any loss, liability or
expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to the Indenture or the Securities unless
(i)&nbsp;such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii)&nbsp;the Holders of at least 25% in principal amount of the outstanding Securities have requested the Trustee in writing to pursue the remedy,
(iii)&nbsp;such Holders have offered the Trustee reasonable security or indemnity satisfactory to the Trustee against any loss, liability or expense, (iv)&nbsp;the Trustee has not complied with such request within 60 days after the receipt of the
request and the offer of security or indemnity and (v)&nbsp;the Holders of a majority in principal amount of the outstanding Securities have not given the Trustee a direction inconsistent with such request within such 60-day period. Subject to
certain restrictions, the Holders of a majority in principal amount of the outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any
trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the rights of any other Holder or that would involve
the Trustee in personal or financial liability. Prior to taking any action under the Indenture at the instruction of Holders in respect of an Event of Default, the Trustee shall be entitled to indemnification or security satisfactory to it in its
sole discretion against all losses and expenses caused by taking or not taking such action. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">17.</TD>
<TD ALIGN="left" VALIGN="top"><U>Trustee Dealings with the Issuer</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Trustee under the Indenture, in its individual or
any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would
have if it were not Trustee. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">18.</TD>
<TD ALIGN="left" VALIGN="top"><U>No Recourse Against Others</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">No director, officer, employee, manager, incorporator or
holder of any Equity Interests (as defined in the Indenture) in the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuer under the Securities, the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">19.</TD>
<TD ALIGN="left" VALIGN="top"><U>Authentication</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">This Security shall not be valid until an authorized signatory of the
Authenticating Agent manually signs the certificate of authentication on the other side of this Security. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">20.</TD>
<TD ALIGN="left" VALIGN="top"><U>Abbreviations</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">Customary abbreviations may be used in the name of a Holder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">21.</TD>
<TD ALIGN="left" VALIGN="top"><U>Governing Law</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">22.</TD>
<TD ALIGN="left" VALIGN="top"><U>ISINs; Common Codes</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Issuer has caused Common Code numbers and ISINs to be printed
on the Securities and has directed the Trustee to use Common Code numbers and ISINs in notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as
contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>The Issuer
will furnish to any Holder of Securities upon written request and without charge to the Holder a copy of the Indenture which has in it the text of this Security. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ASSIGNMENT FORM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To assign this Security, fill in the form below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I or we
assign and transfer this Security to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(Print or type assignee&#146;s name, address and zip code) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(Insert assignee&#146;s soc. sec.
or tax I.D. No.) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and irrevocably appoint
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for him. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="36%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sign exactly as your name appears on the other side of this Security. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Registrar or Transfer Agent</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REGISTRATION OF TRANSFER RESTRICTED SECURITIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This certificate relates to &#128;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; principal amount of Securities held in (check applicable space)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; book-entry or &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; definitive form by the undersigned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
undersigned (check one box below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">has requested the Registrar or Transfer Agent by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depository a Security or Securities in definitive, registered form of
authorized denominations and an aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above); </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD ALIGN="left" VALIGN="top">has requested the Register or Transfer Agent by written order to exchange or register the transfer of a Security or Securities. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of the period referred to in Rule
144(k) under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK ONE BOX BELOW
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the Issuer; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the Registrar for registration in the name of the Holder, without
transfer; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to an effective registration statement under
the Securities Act of 1933; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> inside the United States to a
&#147;qualified institutional buyer&#148; (as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in
reliance on Rule 144A, in each case pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Security shall be held
immediately after the transfer through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to an institutional &#147;accredited investor&#148; (as defined in Rule
501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and agreements; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to another available exemption from registration provided by
Rule 144 under the Securities Act of 1933. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless one of the boxes is checked, the Registrar will refuse to register any of the Securities evidenced by this
certificate in the name of any Person other than the registered Holder thereof; <I>provided</I>,<I> however</I>, that if box (5), (6)&nbsp;or (7)&nbsp;is checked, the Issuer or the Registrar may require, prior to registering any such transfer of the
Securities, such legal opinions, certifications and other information as the Issuer or the Registrar have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="36%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="48%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Registrar or Transfer Agent</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TO BE COMPLETED BY PURCHASER IF (4)&nbsp;ABOVE IS CHECKED. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a &#147;qualified institutional buyer&#148; within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule
144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned&#146;s foregoing representations in order to claim the exemption from registration provided by Rule 144A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="45%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Dated:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">NOTICE: To be executed by an executive officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[TO BE ATTACHED TO GLOBAL SECURITIES] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The initial principal amount of this Global Security is &#128;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The following increases or
decreases in this Global Security have been made: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">Date of Exchange</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Amount&nbsp;of&nbsp;decrease&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global Security</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Amount&nbsp;of&nbsp;increase&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global&nbsp;Security</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Principal&nbsp;amount&nbsp;of&nbsp;this<BR>Global&nbsp;Security&nbsp;following<BR>such&nbsp;decrease&nbsp;or&nbsp;increase</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Signature&nbsp;of&nbsp;authorized<BR>signatory&nbsp;of&nbsp;Registrar&nbsp;or<BR>Common&nbsp;Depositary</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OPTION OF HOLDER TO ELECT PURCHASE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have this Security purchased by the Issuer pursuant to Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control)
of the Indenture, check the box: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="34%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Asset&nbsp;Sale</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Change&nbsp;of&nbsp;Control</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have only part of this Security purchased by the Issuer pursuant to
Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control) of the Indenture, state the amount (&#128;100,000 or any integral multiple of &#128;1,000 in excess thereof): </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>&#128;Date:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Your&nbsp;Signature:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>(Sign exactly as your name appears on the other side of this Security)</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="46%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Signature&nbsp;Guarantee:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF SUPPLEMENTAL INDENTURE] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">SUPPLEMENTAL INDENTURE (this &#147;Supplemental Indenture&#148;) dated as of
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], among [GUARANTOR] (the &#147;New Guarantor&#148;), a subsidiary of CONSTELLIUM N.V., (or its successor), a public company
with limited liability (<I>naamloze vennootschap</I>) incorporated under the laws of The Netherlands (the &#147;Issuer&#148;) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee under the indenture referred to below (the &#147;Trustee&#148;),
DEUTCHE BANK AG, LONDON BRANCH, as Principal Paying Agent and DEUTSCHE BANK LUXEMBOURG S.A., as Registrar and Transfer Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S
S E T H : </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS the Issuer and the existing Guarantors have heretofore executed and delivered to the Trustee an indenture (as amended,
supplemented or otherwise modified, the &#147;Indenture&#148;) dated as of May&nbsp;7, 2014, providing initially for the issuance of &#128;300,000,000 in aggregate principal amount of the Issuer&#146;s 4.625% Senior Notes due 2021 (the
&#147;Securities&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS Section&nbsp;4.11 of the Indenture provides that under certain circumstances the Issuer are required to
cause the New Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally guarantee all the Issuer&#146;s Obligations under the Securities and the Indenture pursuant to a
Guarantee on the terms and conditions set forth herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">WHEREAS pursuant to Section&nbsp;9.01 of the Indenture, the Trustee, the
Issuer and the existing Guarantors are authorized to execute and deliver this Supplemental Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of
the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">1. <U>Defined Terms</U>. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital
hereto are used herein as therein defined, except that the term &#147;Holders&#148; in this Guarantee shall refer to the term &#147;Holders&#148; as defined in the Indenture and the Trustee acting on behalf of and for the benefit of such Holders.
The words &#147;herein,&#148; &#147;hereof&#148; and &#147;hereby&#148; and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">2. <U>Agreement to Guarantee</U>. The New Guarantor hereby agrees, jointly and severally with all existing Guarantors (if any), to
unconditionally guarantee the Issuer&#146;s Obligations under the Securities and the Indenture on the terms and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture
and the Securities and to perform all of the obligations and agreements of a Guarantor under the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">3. <U>Notices</U>. All
notices or other communications to the New Guarantor shall be given as provided in Section&nbsp;11.03 of the Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">4. <U>Ratification of Indenture; Supplemental Indentures Part of Indenture</U>. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all
purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">5. <U>Governing
Law</U>. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">6. <U>Trustee Makes No Representation</U>. The Trustee makes no representation as to the validity or sufficiency of this Supplemental
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">7. <U>Counterparts</U>. The parties may sign any number of copies of this Supplemental Indenture by manual, facsimile, pdf or
other electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">8. <U>Effect of Headings</U>. The Section headings herein are for convenience only and shall not affect the construction thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NEW GUARANTOR]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK TRUST COMPANY AMERICAS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK AG, LONDON BRANCH</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK LUXEMBOURG S.A.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 3 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.9
<SEQUENCE>4
<FILENAME>d908770dex49.htm
<DESCRIPTION>EX-4.9
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.9</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.9 </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CREDIT AGREEMENT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">dated as of
May&nbsp;7, 2014 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">among </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSTELLIUM N.V., </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as the Borrower,
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">the Lenders party hereto from time to time </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK AG NEW YORK
BRANCH, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as the Administrative Agent </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK
SECURITIES INC., BNP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">PARIBAS&nbsp;SA AND GOLDMAN SACHS BANK USA, </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Joint Lead Arrangers and Joint Bookrunners </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">BNP PARIBAS&nbsp;SA AND
GOLDMAN SACHS BANK USA, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as <FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents and
<FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.9 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;I.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFINITIONS</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Defined Terms</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Terms Generally</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.03</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Dutch Terms</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Accounting Terms; IFRS</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.05</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Effectuation of Transactions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;1.06</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Currency Translation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;II.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE CREDITS</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Initial Commitments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Loans and Borrowings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.03</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Requests for Borrowings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Funding of Borrowings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.05</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Interest Elections</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.06</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Termination and Reduction of Commitments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.07</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Repayment of Loans; Evidence of Debt</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.08</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Prepayment of Loans</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.09</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Fees</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Interest</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.11</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Alternate Rate of Interest</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.12</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Increased Costs</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Break Funding Payments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Taxes</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.15</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Payments Generally; Pro Rata Treatment; Sharing of Setoffs</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.16</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Mitigation Obligations; Replacement of Lenders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Incremental Credit Increase</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.18</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Defaulting Lenders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">63</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;2.19</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Illegality</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;III.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REPRESENTATIONS AND WARRANTIES</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Organization; Powers</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Authorization</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.03</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Enforceability</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Governmental Approvals</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="85%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.05</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Financial Statements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.06</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Material Adverse Effect</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.07</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title to Properties; Possession Under Leases</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.08</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Subsidiaries</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.09</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Litigation; Compliance with Laws and Agreements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Federal Reserve Regulations</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.11</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Investment Company Act</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.12</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Use of Proceeds</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Taxes</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Material Misstatements</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.15</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Pensions; ERISA</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.16</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Environmental Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Solvency</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.18</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Labor Matters</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.19</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Social Security</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.20</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Senior Debt</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.21</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Centre of Main Interests and Establishments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.22</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Intellectual Property; Licenses, Etc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.23</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Anti-Money Laundering and Economic Sanctions Laws</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;3.24</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Anti-Corruption Laws</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;IV.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONDITIONS</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;4.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Closing Date</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;4.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Each Credit Event</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;V.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AFFIRMATIVE COVENANTS</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reports and Other Information</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Existence; Business and Properties</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.03</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Insurance</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Payment of Taxes, etc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.05</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Notices of Material Events</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.06</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Compliance with Laws</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.07</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Maintaining Records; Access to Properties and Inspections</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.08</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Payment of Obligations</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.09</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Use of Proceeds</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Compliance with Environmental Laws</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.11</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Guarantor Coverage Test and Additional Subsidiaries</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.12</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Further Assurances</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Maintenance of Ratings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Compliance with Material Contracts</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;5.15</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Designation of Subsidiaries</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="84%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;VI.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NEGATIVE COVENANTS</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Indebtedness and Issuance of Disqualified Stock and Preferred Stock</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Restricted Payments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.03</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Dividend and Other Payment Restrictions Affecting Subsidiaries</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Asset Sales</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.05</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Transactions with Affiliates</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.06</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Liens</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.07</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Merger, Amalgamation, Consolidation or Sale of All or Substantially All Assets</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.08</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Consolidated Net Debt Ratio</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;6.09</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Fixed Charge Coverage Ratio</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;VII.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EVENTS OF DEFAULT</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;7.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Events of Default</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;7.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Application of Proceeds</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;VIII.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ADMINISTRATIVE AGENT</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Appointment and Authority</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Rights as a Lender</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.03</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Exculpatory Provisions</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Reliance by Administrative Agent</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.05</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Delegation of Duties</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.06</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Resignation of Administrative Agent</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.07</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Non-Reliance on Administrative Agent and Other Lenders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.08</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Other Duties, Etc.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.09</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Administrative Agent May File Proofs of Claim</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;8.10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Waiver; Cumulative Remedies; Enforcement</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;IX.</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MISCELLANEOUS</P></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Notices</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.02</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Waivers; Amendments</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.03</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Expenses; Indemnity; Damage Waiver</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Successors and Assigns</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">117</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="84%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.05</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Survival</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.06</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Counterparts; Integration; Effectiveness</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.07</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Signing on behalf of Dutch Loan Party</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">121</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.08</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Severability</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.09</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Right of Setoff</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.10</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Governing Law; Jurisdiction; Consent to Service of Process</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">122</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.11</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">WAIVER OF JURY TRIAL</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.12</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Headings</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.13</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Confidentiality</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">124</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.14</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">USA Patriot Act</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.15</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Judgment Currency</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.16</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Release of Guarantees</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">126</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.17</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">No Advisory or Fiduciary Responsibility</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">127</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Section&nbsp;9.18</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Interest Rate Limitation</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">128</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="81%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>SCHEDULES</U>:</P> <P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule&nbsp;1.01(a)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Guarantee Principles</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule&nbsp;2.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Initial Commitments</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule&nbsp;3.04</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Government Approvals</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule&nbsp;9.01</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Notices</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7"> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>EXHIBITS</U>:</P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit A</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Assignment and Assumption</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit B</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Master Guarantee Agreement</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit C</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Revolving Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit D</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Affiliate Subordination Agreement</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit E</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Closing Certificate</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit F</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#151;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Form of Solvency Certificate</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">CREDIT AGREEMENT dated as of May&nbsp;7, 2014 (this &#147;<U>Agreement</U>&#148;), among
CONSTELLIUM N.V., a Dutch limited liability company registered under number&nbsp;34393663 (the &#147;<U>Borrower</U>&#148;), the LENDERS party hereto from time to time and DEUTSCHE BANK&nbsp;AG NEW YORK BRANCH, as the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has requested that the Lenders extend credit in the form of Loans from time to time prior to the Maturity Date, in an
aggregate principal amount at any time outstanding not in excess of &#128;120,000,000; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Lenders are willing to extend
such credit to the Borrower on terms and subject to the conditions set forth in the Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of
the premises and the agreements hereinafter set forth, the parties hereto hereby agree as follows: </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;I. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFINITIONS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.01
<U>Defined Terms</U>. As used in this Agreement, the following terms have the meanings specified below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Credit
Agreement</U>&#148; means that certain Credit Agreement, dated as of May&nbsp;25, 2012, among Constellium Holdco II, B.V., Constellium Ravenswood, as borrower, Constellium US Holdings&nbsp;I, LLC, the lenders party thereto from time to time and
Deutsche Bank Trust Company Americas, as administrative agent (as amended through but not including the date hereof and as may be further amended, supplemented, or otherwise modified from time to time on or after the date hereof). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Credit Agreement Amendment</U>&#148; means that certain fourth amendment to the ABL Credit Agreement, dated as of May&nbsp;7,
2014 the date hereof, among Constellium Ravenswood, Deutsche Bank Trust Company Americas, as administrative agent, and the lenders party thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Facility</U>&#148; means the credit facility made available under the ABL Credit Agreement, as may be amended, restated,
supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement extending the maturity
thereof, refinancing, replacing or otherwise restructuring all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements or increasing the amount loaned or issued thereunder or
altering the maturity thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Obligors</U>&#148; means the borrower and the guarantors under the ABL Facility. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquired Indebtedness</U>&#148; means, with respect to any specified Person: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Indebtedness, Preferred Stock or Disqualified Stock of any other Person existing at the time such other Person is merged, consolidated or
amalgamated with or into or became a Restricted Subsidiary of such specified Person, and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Indebtedness, Preferred Stock or
Disqualified Stock secured by a Lien encumbering any asset acquired by such specified Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Additional Lender</U>&#148; means,
at any time, any bank or other financial institution that agrees to provide any portion of any Commitment Increase pursuant to an Incremental Facility Amendment in accordance with Section&nbsp;2.17; <U>provided</U> that each Additional Lender shall
be subject to the approval of the Administrative Agent (such approval not to be unreasonably withheld or delayed) and the Borrower, in each case, to the extent any such approvals would otherwise be required for an assignment to such Additional
Lender pursuant to Section&nbsp;9.04(b)(i) hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Adjusted Eurocurrency Rate</U>&#148; means an interest rate per annum
(rounded upwards, if necessary, to the next 1/100 of 1%) equal to (i)&nbsp;the Eurocurrency Rate for Euros for such Interest Period <U>multiplied</U> <U>by</U> (ii)&nbsp;the Statutory Reserve Rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Administrative Agent</U>&#148; means Deutsche Bank&nbsp;AG New York Branch, in its capacity as administrative agent hereunder and
under the other Loan Documents, and its successors in such capacity as provided in Article&nbsp;VIII. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Administrative
Questionnaire</U>&#148; means an administrative questionnaire in a form supplied by the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; of any specified Person means any other Person directly or indirectly controlling or controlled by or under
direct or indirect common control with such specified Person. For purposes of this definition, &#147;control&#148; (including, with correlative meanings, the terms &#147;controlling,&#148; &#147;controlled by&#148; and &#147;under common control
with&#148;), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise, and in the case of Natixis, any member of the BPCE group, the Caisse d&#146;Epargne group, Banques Populaires and Banque Palatine and their respective Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate Subordination Agreement</U>&#148; means the Affiliate Subordination Agreement, dated as of the date hereof, among the
subordinated lenders from time to time party thereto, the subordinated borrowers from time to time party thereto and the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agent Parties</U>&#148; has the meaning given to such term in Section&nbsp;9.01(c). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agents</U>&#148; has the meaning given to such term in Section&nbsp;9.01(c). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreement</U>&#148; has the meaning given to such term in the preamble hereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Anti-Money Laundering Laws</U>&#148; means any and all laws, judgments, orders,
executive orders, decrees, ordinances, rules, regulations, statutes, case law or treaties applicable to a Loan Party, its Subsidiaries or Affiliates related to terrorism financing or money laundering, including any applicable provision of
Title&nbsp;III of the USA Patriot Act and The Currency and Foreign Transactions Reporting Act (also known as the <U>Bank Secrecy Act</U>, 31&nbsp;U.S.C. &#167;&#167;&nbsp;5311-5330 and 12&nbsp;U.S.C. &#167;&#167;&nbsp;1818(s), 1820(b) and
1951-1959). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Account</U>&#148; means, with respect to any payment to be made to the Administrative Agent hereunder,
the account specified by the Administrative Agent from time to time for the purpose of receiving payments of such type. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Approved
Bank</U>&#148; means any commercial bank that (i)&nbsp;is a Lender or (ii)&nbsp;has combined capital and surplus of at least $250,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Approved Fund</U>&#148; means any Person (other than a natural person) that is (or will be) engaged in making, purchasing, holding or
investing in commercial loans and similar extensions of credit in the ordinary course of its activities and that is administered or managed by (a)&nbsp;a Lender, (b)&nbsp;an Affiliate of a Lender or (c)&nbsp;an entity or an Affiliate of an entity
that administers or manages a Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Asset Sale</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions) of property or
assets (including by way of a Sale/Leaseback Transaction) outside the ordinary course of business of the Borrower or any Restricted Subsidiary of the Borrower (each referred to in this definition as a &#147;<I>disposition</I>&#148;) or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the issuance or sale of Equity Interests (other than directors&#146; qualifying shares and shares issued to foreign nationals or other
third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Borrower or another Restricted Subsidiary of the Borrower) (whether in a single transaction or a series of related transactions), </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case other than: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) a
disposition of Cash Equivalents or Investment Grade Securities or damaged, obsolete or worn out property or equipment in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) transactions permitted pursuant to Section&nbsp;6.07; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) any Restricted Payment or Permitted Investment that is permitted to be made, and is made, under Section&nbsp;6.02; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) any disposition of assets or issuance or sale of Equity Interests of any Restricted Subsidiary, which assets or Equity
Interests so disposed or issued have an aggregate Fair Market Value of less than &#128;10,000,000; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) any disposition of property or assets, or the issuance of securities, by a
Restricted Subsidiary of the Borrower to the Borrower or by the Borrower or a Restricted Subsidiary of the Borrower to a Restricted Subsidiary of the Borrower; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) any exchange of assets (including a combination of assets and Cash Equivalents) for assets related to a Similar Business
of comparable or greater market value or usefulness to the business of the Borrower and its Restricted Subsidiaries as a whole, as determined in good faith by the Borrower; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) foreclosure or any similar action with respect to any property or any other assets of the Borrower or any of its
Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted
Subsidiary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) the lease, assignment or sublease of any real or personal property in the ordinary course of business;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) any sale of inventory or other assets in the ordinary course of business, or which are no longer useful or necessary
in the operation of the business of the Borrower and its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) any grant in the ordinary course of
business of any license of patents, trademarks, know-how or any other intellectual property; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) an issuance of Capital
Stock pursuant to an equity incentive or compensation plan approved by the Board of Directors of the Borrower; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii)
dispositions in connection with Permitted Liens; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) any financing transaction with respect to property built or
acquired by the Borrower or any Restricted Subsidiary after the Closing Date, including any Sale/Leaseback Transaction or asset securitization permitted by this Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Borrower or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition),
made as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or
other claims of any kind; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) a transfer of accounts receivable and related assets of the type specified in the
definition of &#147;Receivables Financing&#148; (or a fractional undivided interest therein) by a Receivables Subsidiary or any Restricted Subsidiary (w)&nbsp;under the Factoring Facilities, (x)&nbsp;in a Qualified Receivables Financing,
(y)&nbsp;under any other factoring on arm&#146;s-length terms or (z)&nbsp;in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) the sale of any property in a Sale/Leaseback Transaction within six
months of the acquisition of such property; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) dispositions of receivables in connection with the compromise,
settlement or collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assignment and Assumption</U>&#148; means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any Person whose consent is required by Section&nbsp;9.04), substantially in the form of Exhibit&nbsp;A or any other form reasonably approved by the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Assignment Taxes</U>&#148; means Other Taxes imposed as a result of an assignment by any Lender pursuant to Section&nbsp;9.04 (other
than an assignment at the request of the Borrower pursuant to Section&nbsp;2.16) as a result of a present or former connection between the assigning Lender and the Governmental Authority or the jurisdiction imposing such Other Taxes, other than a
connection arising solely from such Lender having executed, delivered or performed its obligations or received a payment under, having received or perfected a security interest under, having been a party to or having enforced, or, having sold or
assigned an interest in this Agreement or any other Loan Document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Availability Period</U>&#148; means the period from and
including the Closing Date to but excluding the earlier of (i)&nbsp;the five (5)&nbsp;Business Days preceding the Maturity Date and (ii)&nbsp;the date of termination of the Commitments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bankruptcy Code</U>&#148; means Title&nbsp;11 of the United States Code, as amended, or any similar federal or state law for the
relief of debtors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>BNP Paribas</U>&#148; means BNP Paribas SA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Board of Directors</U>&#148; means, as to any Person, the board of directors or managers, as applicable, of such Person (or, if such
Person is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Board of Governors</U>&#148; means the Board of Governors of the Federal Reserve System of the United States of America, or any
successor thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrower</U>&#148; has the meaning assigned to such term in the preamble hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrower Materials</U>&#148; means the materials and/or information provided by or on behalf of the Borrower pursuant to
Section&nbsp;5.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing</U>&#148; means Loans made, converted or continued on the same date and as to which a single
Interest Period is in effect. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing Minimum</U>&#148; means &#128;5,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing Multiple</U>&#148; means &#128;1,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing Request</U>&#148; means a request by the Borrower for a Borrowing in accordance with Section&nbsp;2.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Day</U>&#148; means any day that is (i)&nbsp;not a Saturday, Sunday or other day on which commercial banks in London, New
York City, Paris or Amsterdam are authorized or required by law to remain closed and (ii)&nbsp;a TARGET Day. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital
Stock</U>&#148; means: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) in the case of a corporation, corporate stock or shares; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) in the case of an association or business entity, any and all shares, interests, participations, rights or other equivalents (however
designated) of corporate stock </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) in the case of a partnership or limited liability company, partnership or membership interests
(whether general or limited); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) any other interest or participation that confers on a Person the right to receive a share of the
profits and losses of, or distributions of assets of, the issuing Person </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capitalized Lease Obligations</U>&#148; means, at the
time any determination thereof is to be made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in
accordance with IFRS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Cash Equivalents</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) all cash, including without limitation U.S. dollars, pounds sterling, euros, Swiss franc, the national currency of any member state in the
European Union or such other currencies held by the Borrower or any Restricted Subsidiary from time to time in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) securities and other readily marketable obligations issued or directly and fully guaranteed or insured by the U.S. government or any
country that is a member of the European Union or Switzerland, or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) certificates of deposit, time deposits and eurodollar time deposits with maturities of one year or less from the date of acquisition,
bankers&#146; acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250,000,000; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) repurchase obligations for underlying securities of the types described in clauses
(b)&nbsp;and (c)&nbsp;above entered into with any financial institution meeting the qualifications specified in clause (c)&nbsp;above; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) commercial paper issued by a corporation (other than an Affiliate of the Borrower) rated at least &#147;A-2&#148; or the equivalent
thereof by Moody&#146;s or S&amp;P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case maturing within one year after the date of acquisition; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) readily marketable direct obligations issued by any state of the United States of America or any political subdivision thereof having an
Investment Grade Rating in each case with maturities not exceeding two years from the date of acquisition; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Indebtedness issued by
Persons with a rating of &#147;A&#148; or higher from S&amp;P or &#147;A-2&#148; or higher from Moody&#146;s in each case with maturities not exceeding two years from the date of acquisition; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) investment funds investing at least 95% of their assets in securities of the types described in clauses (a)&nbsp;through (g)&nbsp;above;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) investments with average maturities of 12 months or less from the date of acquisition in mutual funds rated AA- (or the equivalent
thereof) or better by S&amp;P or Aaa3 (or the equivalent thereof) or better by Moody&#146;s; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) marketable short-term money market
and similar highly liquid funds either (i)&nbsp;having assets in excess of $250,000,000 or (ii)&nbsp;having a rating of at least A-2 or P-2 from either S&amp;P or Moody&#146;s (or, if at any time neither S&amp;P nor Moody&#146;s shall be rating such
obligations, an equivalent rating from another nationally recognized rating service). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change in Control</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all the assets of the Borrower and its
Subsidiaries, taken as a whole, to any Person; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Borrower becomes aware (by way of a report or any other filing pursuant to
Section&nbsp;13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section&nbsp;13(d)(3) or Section&nbsp;14(d)(2) of the Exchange Act, or any successor provision),
including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by way of merger,
consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the total voting power of the Voting Stock of the Borrower;
<I>provided</I>, <I>however</I>, that any entity (including Constellium N.V. upon a sale of all or substantially all of its assets to a Subsidiary in a transaction permitted under this Agreement, if at such time Constellium N.V. meets the
requirements of this proviso) that conducts no material activities other than holding Equity Interests of the Borrower or any direct or indirect parent of the Borrower and has no other material assets or liabilities other than such Equity Interests
will not be considered a &#147;Person or group&#148; for purposes of this clause (b). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change in Law</U>&#148; means the occurrence, after the date of this Agreement, of any
of the following: (a)&nbsp;the adoption or taking effect of any law, rule, regulation or treaty, (b)&nbsp;any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any
Governmental Authority or (c)&nbsp;the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; <U>provided</U> that notwithstanding anything herein to the contrary,
(x)&nbsp;the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y)&nbsp;all requests, rules, guidelines or directives promulgated by the Bank
for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel&nbsp;III, shall in each case be deemed to be a
&#147;Change in Law&#148;, regardless of the date enacted, adopted or issued. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; has the meaning assigned to
such term in Section&nbsp;4.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents</U>&#148; means BNP Paribas and
Goldman Sachs, each in its capacity as a <FONT STYLE="white-space:nowrap">co-documentation</FONT> agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT
STYLE="white-space:nowrap">Co-Syndication</FONT> Agents</U>&#148; means BNP Paribas and Goldman Sachs, each in its capacity as a <FONT STYLE="white-space:nowrap">co-syndication</FONT> agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; means the United States Internal Revenue Code of 1986, as amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commitment</U>&#148; means an Initial Commitment or a Commitment Increase, as the context may require. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commitment Increase</U>&#148; has the meaning assigned to such term in Section&nbsp;2.17(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Interest Expense</U>&#148; means, with respect to any Person for any period, the sum, without duplication, of: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) consolidated interest expense of such Person and its Restricted Subsidiaries for such period, to the extent such expense was deducted in
computing Consolidated Net Income (including amortization of original issue discount, noncash interest payments, the interest component of Capitalized Lease Obligations and net payments and receipts (if any) pursuant to interest rate Hedging
Obligations (but excluding unrealized mark-to-market gains and losses attributable to such Hedging Obligations, amortization of deferred financing fees and expensing of any bridge or other financing fees), and excluding interest expense attributable
to the Factoring Facilities or any Qualified Receivables Financing or other factoring arrangements (to the extent accounted for as interest expense under IFRS), amortization of deferred financing fees, debt issuance costs, commissions, fees and
expenses and expensing of any bridge commitment or other financing fees); <I>plus</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such
period, whether paid or accrued; <I>plus</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Preferred Stock dividends paid in cash in respect of Disqualified Stock of the Borrower
held by persons other than the Borrower or a Restricted Subsidiary; <I>plus</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) commissions based on draws, discounts and yield (but
excluding other fees and charges, including commitment fees) Incurred in connection with any Receivables Financing which are payable to Persons other than the Borrower and its Restricted Subsidiaries; <I>minus</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) interest income for such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by a responsible financial or accounting officer of the Borrower to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Net Debt Ratio</U>&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of
all Consolidated Total Indebtedness, less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA of such Person for the Test
Period preceding such date. The second sentence of the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and the second, third and fourth paragraphs thereof shall apply to the calculation of Consolidated Net Debt Ratio,
and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be held as cash or Cash Equivalents being deemed to have been
applied as of the calculation date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Net Income</U>&#148; means, with respect to any Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis; <I>provided</I>, <I>however</I>, that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any net after-tax extraordinary, nonrecurring or unusual gains or losses or income, expenses or charges (less all fees and expenses
relating thereto), including, without limitation, any (i)&nbsp;severance, relocation or other restructuring expenses, any expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternate uses
and fees, expenses or charges relating to new product lines, plant shutdown costs, curtailments or modifications to pension and post-retirement employee benefits plans, excess pension charges, acquisition integration costs, facilities opening costs,
project start-up costs, business optimization costs, signing, retention or completion bonuses and (ii)&nbsp;any fees, expenses or charges related to any Equity Offering, Permitted Investment, acquisition, disposition, receivables financing,
recapitalization or issuance, repayment, incurrence, refinancing, amendment or modification of Indebtedness permitted to be Incurred by this Agreement (in each case, whether or not successful), in each case, shall be excluded; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any increase in amortization or depreciation or any non-cash charges, in each case resulting
from purchase accounting in connection with any acquisition that is consummated after the Closing Date shall be excluded; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the Net
Income for such period shall not include the cumulative effect of a change in accounting principles during such period; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) any net
after-tax income or loss from disposed, abandoned, transferred, closed or discontinued operations and any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business dispositions or asset
dispositions other than in the ordinary course of business (as determined in good faith by the Borrower) shall be excluded; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) any net
after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early extinguishment of indebtedness or Hedging Obligations or other derivative instruments shall be excluded; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) the Net Income for such period of any Person that is not a Subsidiary of such Person, or is an Unrestricted Subsidiary, or that is
accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or distributions or other payments paid in cash (or to the extent converted into cash) to the referent Person or a Restricted
Subsidiary thereof in respect of such period; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) solely for the purpose of determining the amount available for Restricted Payments
under clause (a)&nbsp;of the definition of Cumulative Credit, the Net Income for such period of any Restricted Subsidiary (other than any Subsidiary Loan Party) shall be excluded to the extent that the declaration or payment of dividends or similar
distributions by such Restricted Subsidiary of its Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its
charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restrictions with respect to the payment of dividends or similar
distributions have been legally waived; <I>provided</I> that the Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such
Restricted Subsidiary to such Person, to the extent not already included therein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) any non-cash impairment charges or asset write-offs
resulting from the application of IFRS and the amortization of intangibles arising pursuant to IFRS shall be excluded; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) any non-cash
expense realized or resulting from stock option plans, employee benefit plans or post-employment benefit plans, grants and sales of stock, stock appreciation or similar rights, stock options or other rights of such Person or any of its Restricted
Subsidiaries shall be excluded; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) any (a)&nbsp;severance or relocation costs or expenses, (b)&nbsp;one-time non-cash
compensation charges, (c)&nbsp;the costs and expenses after the Closing Date related to employment of terminated employees, (d)&nbsp;costs or expenses realized in connection with, resulting from or in anticipation of the Transactions or
(e)&nbsp;costs or expenses realized in connection with or resulting from stock appreciation or similar rights, stock options or other rights existing on the Closing Date of officers, directors and employees, in each case of such Person or any of its
Restricted Subsidiaries, shall be excluded; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) accruals and reserves that are established or adjusted in accordance with IFRS or changes
as a result of the adoption or modification of accounting policies shall be excluded; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) (a)(i) the non-cash portion of
&#147;straight-line&#148; rent expense shall be excluded and (ii)&nbsp;the cash portion of &#147;straight-line&#148; rent expense which exceeds the amount expensed in respect of such rent expense shall be included and (b)&nbsp;non-cash gains,
losses, income and expenses resulting from fair value accounting shall be excluded; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) unrealized gains and losses relating to hedging
transactions and mark-to-market of Indebtedness denominated in foreign currencies shall be excluded; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) solely for the purpose of
calculating Restricted Payments, the difference, if positive, of the Consolidated Taxes of the Borrower calculated in accordance with IFRS and the actual Consolidated Taxes paid in cash by the Borrower during any Reference Period shall be included;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) non-cash charges for deferred tax asset valuation allowances shall be excluded; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) an adjustment (which may be a negative number) shall be made to the extent that Net Income was calculated on an average cost basis with
respect to inventory, in order to reflect the additional Net Income (or the reduction to Net Income) which would have been recognized using an approximation of last in first out inventory accounting; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) any loss on sale of receivables and related assets in a Factoring Facility or other Qualified Receivables Financing shall be excluded.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for the purpose of Section&nbsp;6.02 only, there shall be excluded from the Consolidated Net Income any dividends,
repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries of the Borrower or a Restricted Subsidiary of the Borrower to the extent such dividends, repayments or transfers increase the amount of Restricted Payments
permitted under such covenant pursuant to clauses (e)&nbsp;and (f)&nbsp;of the definition of Cumulative Credit. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated
Non-cash Charges</U>&#148; means, with respect to any Person for any period, the aggregate depreciation, amortization, accretion and other non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such
Person for such period on a consolidated basis and otherwise determined in accordance with IFRS, but excluding any such charge which consists of or requires an accrual of, or cash reserve for, anticipated cash charges for any future period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Taxes</U>&#148; means provision for taxes based on income, profits or
capital, including, without limitation, state, franchise and similar taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Total Indebtedness</U>&#148; means, as
of any date of determination, the aggregate principal amount of consolidated funded Indebtedness for borrowed money (which, for the avoidance of doubt, shall not include any Indebtedness under the Factoring Facilities or any Qualified Receivables
Financing) of the Borrower and its Restricted Subsidiaries outstanding on such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Constellium Ravenswood</U>&#148; means
Constellium Rolled Products Ravenswood, LLC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contingent Obligations</U>&#148; means, with respect to any Person, any obligation
of such Person guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (&#147;<U>primary obligations</U>&#148;) of any other Person (the &#147;<U>primary obligor</U>&#148;) in any manner, whether directly or
indirectly, including, without limitation, any obligation of such Person, whether or not contingent: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) to purchase any such primary
obligation or any property constituting direct or indirect security therefor, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) to advance or supply funds: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) for the purchase or payment of any such primary obligation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) to purchase property, securities or services primarily for the purpose of assuring the owner of any such
primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contribution Notice</U>&#148; means a contribution notice issued by the Pensions Regulator under Section&nbsp;38 or Section&nbsp;47
of the Pensions Act 2004. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credit Extension</U>&#148; means the making of a Borrowing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Cumulative Credit</U>&#148; means the sum of (without duplication): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) 50% of the Consolidated Net Income of the Borrower for the period (taken as one accounting period, the &#147;<U>Reference
Period</U>&#148;) from April&nbsp;1, 2014, to the end of the Borrower&#146;s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, in the case such Consolidated Net
Income for such period is a deficit, minus 100% of such deficit); <I>plus</I> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) 100% of the aggregate net proceeds, including cash and the Fair Market Value (as determined
in good faith by the Borrower) of property other than cash, received by the Borrower after the Closing Date (other than net proceeds to the extent such net proceeds have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant
to Section&nbsp;6.01(b)(xx)) from the issue or sale of Equity Interests of the Borrower (excluding Refunding Capital Stock), Designated Preferred Stock, Excluded Contributions or Disqualified Stock, including Equity Interests issued upon conversion
of Indebtedness or Disqualified Stock or upon exercise of warrants or options (other than an issuance or sale to a Restricted Subsidiary of the Borrower or an employee stock ownership plan or trust established by the Borrower or any of its
Subsidiaries), <I>plus</I> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) 100% of the aggregate amount of contributions to the capital of the Borrower received in cash and the Fair
Market Value (as determined in good faith by the Borrower) of property other than cash after the Closing Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, contributions to the extent such contributions
have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant Section&nbsp;6.01(b)(xx) and Disqualified Stock), <I>plus</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) 100% of the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the case may be, of
any Disqualified Stock of the Borrower or any Restricted Subsidiary thereof issued after the Closing Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) which has been converted into or exchanged for Equity
Interests in the Borrower (other than Disqualified Stock) or any direct or indirect parent of the Borrower (provided that, in the case of any parent, such Indebtedness or Disqualified Stock is retired or extinguished), <I>plus</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) 100% of the aggregate amount received by the Borrower or any Restricted Subsidiary in cash and the Fair Market Value (as determined in
good faith by the Borrower) of property other than cash received by the Borrower or any Restricted Subsidiary from: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i)
the sale or other disposition (other than to the Borrower or a Restricted Subsidiary of the Borrower) of Restricted Investments made by the Borrower and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments
from the Borrower and its Restricted Subsidiaries by any Person (other than the Borrower or any of its Restricted Subsidiaries) and from repayments of loans or advances (including the release of any guarantee that constituted a Restricted Investment
when made) that constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made pursuant to clauses (vii) or (x) of Section&nbsp;6.02(e)), </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the sale (other than to the Borrower or a Restricted Subsidiary of the Borrower) of the Capital Stock of an Unrestricted
Subsidiary, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) a distribution or dividend from an Unrestricted Subsidiary, <I>plus</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) in the event any Unrestricted Subsidiary of the Borrower has been redesignated as a Restricted Subsidiary or has been merged, consolidated
or amalgamated with </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
or into, or transfers or conveys its assets to, or is liquidated into, the Borrower or a Restricted Subsidiary, the Fair Market Value (as determined in good faith by the Borrower) of the
Investment of the Borrower in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after taking into account any Indebtedness associated with the
Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made
pursuant to clauses (vii) or (x) of Section&nbsp;6.02(e) or constituted a Permitted Investment). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>DBSI</U>&#148; means Deutsche
Bank Securities Inc. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>DCC</U>&#148; means the Dutch Civil Code (<I>Nederlands Burgerlijk Wetboek</I>). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>DCCP</U>&#148; means the Dutch Code of Civil Procedure (<I>Nederlands Wetboek van Burgerlijke Rechtsvordering</I>). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Debtor Relief Laws</U>&#148; means the Bankruptcy Code, the Dutch Bankruptcy Code (<I>Nederlandse Faillissementswet</I>) and all
other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief laws of the United States or other applicable jurisdictions from
time to time in effect and affecting the rights of creditors generally. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Default</U>&#148; means any event or condition that
constitutes an Event of Default or that upon notice, lapse of time or both would, unless cured or waived, become an Event of Default. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Defaulting Lender</U>&#148; means at any time, subject to Section&nbsp;2.18(b), (i)&nbsp;any Lender that has failed for two or more
Business Days to comply with its obligations under this Agreement to make a Loan or make any other payment due hereunder (each, a &#147;<U>funding obligation</U>&#148;) (<U>provided</U> that such Lender will cease to be a Defaulting Lender to the
extent the failure to comply with a funding obligation is caused by an administrative or technical error and such failure is remedied within three Business Days), unless such Lender has notified the Administrative Agent and the Borrower in writing
that such failure is the result of such Lender&#146;s good faith determination that one or more conditions precedent to funding has not been satisfied (which conditions precedent, together with the applicable default, if any, will be specifically
identified in such writing), (ii)&nbsp;any Lender that has notified the Administrative Agent or the Borrower, in writing, or has stated publicly, that it does not intend to comply with its funding obligations hereunder, unless such writing or
statement states that such position is based on such Lender&#146;s good faith determination that one or more conditions precedent to funding cannot be satisfied (which conditions precedent, together with the applicable default, if any, will be
specifically identified in such writing or public statement), (iii)&nbsp;any Lender that has generally defaulted on its funding obligations under other loan agreements or credit agreements or other similar financing agreements, (iv)&nbsp;any Lender
that has, for three or more Business Days after written request of the Administrative Agent or the Borrower, failed to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations
hereunder (<U>provided</U> that such Lender will cease to be a Defaulting Lender pursuant to this clause&nbsp;(iv) upon the Administrative Agent&#146;s and the Borrower&#146;s receipt of such written
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
confirmation) or (v)&nbsp;any Lender with respect to which a Lender Insolvency Event has occurred and is continuing with respect to such Lender or its Parent Company. Any determination by the
Administrative Agent that a Lender is a Defaulting Lender under any of clauses&nbsp;(i) through (v)&nbsp;above will be conclusive and binding absent manifest error, and such Lender will be deemed to be a Defaulting Lender (subject to
Section&nbsp;2.18(b)) upon notification of such determination by the Administrative Agent to the Borrower and the Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Designated Non-cash Consideration</U>&#148; means the Fair Market Value of non-cash consideration received by the Borrower or one of
its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer&#146;s Certificate, setting forth the basis of such valuation, less the amount of Cash Equivalents
received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Designated Preferred
Stock</U>&#148; means Preferred Stock of the Borrower or any direct or indirect parent of the Borrower (other than Disqualified Stock), that is issued for cash (other than to the Borrower or any of its Subsidiaries or an employee stock ownership
plan or trust established by the Borrower or any of its Subsidiaries) and is so designated as Designated Preferred Stock, pursuant to an Officer&#146;s Certificate, on the issuance date thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disqualified Lenders</U>&#148; means (i)&nbsp;any Person set forth in writing by the Borrower to the Administrative Agent on or prior
to the Closing Date and (ii)&nbsp;(a)&nbsp;any operating company which is a bona fide competitor of the Borrower identified in writing by the Borrower to the Administrative Agent following the Closing Date and (b)&nbsp;any entity that is readily
identifiable from the name of such entity as an affiliate of any such competitor (other than bona fide debt funds); provided that, in the case of clause (ii), any such competitor or affiliate identified after the Closing Date shall not have
retroactive application to any prior assignments or participations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disqualified Stock</U>&#148; means, with respect to any
Person, any Capital Stock of such Person which, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a change of control or
asset sale; <I>provided</I> that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Lenders than is customary in comparable transactions (as determined in good faith by the
Borrower)), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) is convertible or exchangeable for Indebtedness or Disqualified Stock of such Person, or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) is redeemable at the option of the holder thereof, in whole or in part (other than as a result of a change of control or asset sale;
provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Lenders than is customary in comparable transactions (as determined in good faith by the Borrower)),
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
in each case prior to 91 days after the Maturity Date; <I>provided</I>, <I>however</I>, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or
exchangeable or is so redeemable at the option of the holder thereof prior to such date shall be deemed to be Disqualified Stock; <I>provided</I>, <I>further</I>, <I>however</I>, that if such Capital Stock is issued to any employee or to any plan
for the benefit of employees of the Borrower or its Subsidiaries or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Borrower in order to
satisfy applicable statutory or regulatory obligations or as a result of such employee&#146;s termination, death or disability; <I>provided</I>, <I>further</I>, that any class of Capital Stock of such Person that by its terms authorizes such Person
to satisfy its obligations thereunder by delivery of Capital Stock that is not Disqualified Stock shall not be deemed to be Disqualified Stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dutch Loan Party</U>&#148; has the meaning assigned to such term in Section&nbsp;9.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dutch MBR</U>&#148; means the resolutions of the managing board of each Dutch Loan Party (i)&nbsp;approving the terms of, and the
transactions contemplated by the Loan Documents and resolving that it will enter into, execute, deliver and perform the Loan Documents to which it is a party, (ii)&nbsp;authorizing a specific person or persons to execute the Loan Documents to which
it is a party on its behalf, (iii)&nbsp;authorizing a specific person or persons, on its behalf, to sign and/or dispatch all documents and notices to be signed and/or dispatched by it under or in connection with the Loan Documents to which it is a
party, (iv)&nbsp;appointing and/or confirming the appointment of any representatives and any process agents required pursuant to the terms of the Loan Documents, and (v)&nbsp;stating that the entering into and execution of the Loan Documents is in
its corporate benefit and in conformity with its corporate purpose. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>EBITDA</U>&#148; means, with respect to any Person for any
period, the Consolidated Net Income of such Person and its Restricted Subsidiaries for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Consolidated Taxes; <I>plus</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Consolidated Interest Expense; <I>plus</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Consolidated Non-cash Charges; <I>plus</I> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) business optimization expenses and other restructuring charges or expenses (which, for the avoidance of doubt, shall include, without
limitation, the effect of inventory optimization programs, plant closures, facility consolidations, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges); <I>provided</I>
that the aggregate amount of business optimization expenses and other restructuring charges or expenses added pursuant to this clause (d)&nbsp;shall not exceed the greater of (i)&nbsp;&#128;20,000,000 and (ii)&nbsp;10% of EBITDA for such period;
<I>less</I>, without duplication, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) non-cash items increasing Consolidated Net Income for such period (excluding the recognition of
deferred revenue or any items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period and any items for which cash was received in a prior period). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Economic Sanctions Laws</U>&#148; means (i)&nbsp;the Trading with the Enemy Act (50
U.S.C. App. &#167;&#167;&nbsp;5(b) and 16, as amended), the International Emergency Economic Powers Act (50 U.S.C. &#167;&#167;&nbsp;1701-1706, as amended) and Executive Order 13224 (effective September&nbsp;24, 2001), as amended and (ii)&nbsp;any
and all other laws, judgments, orders, executive orders, decrees, ordinances, rules, regulations, statutes, case law or treaties applicable to a Loan Party, its Subsidiaries or Affiliates relating to economic sanctions and terrorism financing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible Assignee</U>&#148; means (a)&nbsp;a Lender, (b)&nbsp;an Affiliate of a Lender, (c)&nbsp;an Approved Fund and (d)&nbsp;any
other Person (other than the Borrower or any of its Subsidiaries or Affiliates), other than, in each case, a natural person; <U>provided</U> that, without the prior written consent of the Borrower (which may be withheld in its sole discretion) a
Disqualified Lender shall not be an Eligible Assignee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Embargoed Person</U>&#148; means (i)&nbsp;any country or territory that
is the subject of a sanctions program administered by the U.S. Treasury Department&#146;s Office of Foreign Assets Control (&#147;<U>OFAC</U>&#148;) or (ii)&nbsp;any party that (v)&nbsp;is the subject of an economic or trade sanctions law,
regulation, or other program enacted, administered, imposed or enforced by the United Nations, European Union, French Republic or Her Majesty&#146;s Treasury, in each case which law, regulation or other program prohibits the Borrower and its
Subsidiaries from doing business with such party, (w)&nbsp;is publicly identified on the most current list of &#147;Specially Designated Nationals and Blocked Persons&#148; published by the OFAC, (x)&nbsp;is a &#147;designated national&#148;
pursuant to OFAC&#146;s Cuban Assets Control Regulations (31 C.F.R. 515.305), (y)&nbsp;resides, is organized or chartered, or has a place of business in a country or territory that is the subject of a sanctions program administered by OFAC or
(z)&nbsp;is publicly identified as prohibited from doing business with the United States under the International Emergency Economic Powers Act, the Trading With the Enemy Act, or any other Requirement of Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Environmental Laws</U>&#148; means all applicable treaties, rules, regulations, codes, ordinances, judgments, orders, decrees and
other applicable Requirements of Law, and all applicable injunctions or binding agreements issued, promulgated or entered into by or with any Governmental Authority, in each instance relating to the protection of the environment, to preservation or
reclamation of natural resources, to the Release or threatened Release of any Hazardous Material or to the extent relating to exposure to Hazardous Materials, to health or safety matters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Environmental Liability</U>&#148; means any liability, obligation, loss, claim, action, order or cost, contingent or otherwise
(including any liability for damages, costs of medical monitoring, costs of environmental remediation or restoration, administrative oversight costs, consultants&#146; fees, fines, penalties and indemnities), of the Borrower or any Restricted
Subsidiary directly or indirectly resulting from or based upon (a)&nbsp;any actual or alleged violation of any Environmental Law or permit, license or approval issued thereunder, (b)&nbsp;the generation, use, handling, transportation, storage or
treatment of any Hazardous Materials, (c)&nbsp;exposure to any Hazardous Materials, (d)&nbsp;the Release or threatened Release of any Hazardous Materials or (e)&nbsp;any contract, agreement or other consensual arrangement pursuant to which liability
is assumed or imposed with respect to any of the foregoing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Equity Interests</U>&#148; means Capital Stock and all warrants, options or other rights
to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Equity
Offering</U>&#148; means any public or private sale after the Closing Date of common stock or Preferred Stock of the Borrower or any direct or indirect parent of the Borrower, as applicable (other than Disqualified Stock), other than: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) public offerings with respect to the Borrower&#146;s or such direct or indirect parent&#146;s common stock registered on Form F-8 or F-4;
and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any such public or private sale that constitutes an Excluded Contribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974, as amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA Affiliate</U>&#148; means any trade or business (whether or not incorporated) that, together with the Borrower, is treated as a
single employer under Section&nbsp;414(b) or 414(c) of the Code or, solely for purposes of Section&nbsp;302 of ERISA and Section&nbsp;412 of the Code, is treated as a single employer under Section&nbsp;414 of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA Event</U>&#148; means: (a)&nbsp;any &#147;reportable event,&#148; as defined in Section&nbsp;4043 of ERISA or the regulations
issued thereunder with respect to a Plan (other than an event for which the <FONT STYLE="white-space:nowrap">30-day</FONT> notice period is waived under applicable regulations in effect on the date hereof); (b)&nbsp;with respect to a Plan, a failure
to satisfy the minimum funding standard (within the meaning of Section&nbsp;412 of the Code or Section&nbsp;302 of ERISA) applicable to such Plan, whether or not waived; (c)&nbsp;the filing pursuant to Section&nbsp;412(c) of the Code or
Section&nbsp;302(c) of ERISA of an application for a waiver of the minimum funding standard with respect to any Plan; (d)&nbsp;a determination that any Plan is, or is expected to be, in <FONT STYLE="white-space:nowrap">&#147;at-risk&#148;</FONT>
status (as defined in Section&nbsp;303(i)(4) of ERISA or Section&nbsp;430(i)(4) of the Code); (e)&nbsp;a withdrawal by the Borrower or any ERISA Affiliate from a Plan subject to Section&nbsp;4063 of ERISA during a plan year in which it was a
substantial employer (as defined in Section&nbsp;4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal under Section&nbsp;4062(e) of ERISA; (f)&nbsp;the incurrence by the Borrower or any of its ERISA Affiliates of
any liability under Title IV of ERISA with respect to the termination of any Plan or Multiemployer Plan; (g)&nbsp;an event or condition which would reasonably be expected to constitute grounds under Section&nbsp;4042 of ERISA for the termination of,
or the appointment of a trustee to administer, any Plan or the receipt by the Borrower or any ERISA Affiliate from the PBGC or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to appoint a trustee to
administer any Plan; (h)&nbsp;the incurrence by the Borrower or any of its ERISA Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or Multiemployer Plan; or (i)&nbsp;the receipt by the Borrower or any
ERISA Affiliate of any notice, or the receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice, concerning the imposition of Withdrawal Liability on the Borrower or any ERISA Affiliate or a determination that a
Multiemployer Plan is, or is expected to be, insolvent or in reorganization, within the meaning of Title&nbsp;IV of ERISA or in endangered or critical status, within the meaning of Section&nbsp;305 of ERISA. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>EU Insolvency Regulation</U>&#148; has the meaning assigned to such term in
Section&nbsp;3.21. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Euro</U>&#148; and &#147;<U>&#128;</U>&#148; each mean the single currency of the Member States of the
European Union participating in the third stage of the economic and monetary union pursuant to the Treaty on the Functioning of the European Union, as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eurocurrency Rate</U>&#148; means, for any Interest Period, the rate <I>per annum</I> equal to (i)&nbsp;the rate determined by the
Administrative Agent to be the percentage rate <I>per annum</I> determined by the Banking Federation of the European Union for the relevant period for deposits (for delivery on the first day of such period) (such page currently being the EURIBOR01
page) with a term equivalent to such period in Euros, determined as of approximately 11:00&nbsp;a.m. (Brussels, Belgium time) two TARGET Days prior to the commencement of such Interest Period; <I>provided</I> that if the Interest Period is less than
one month (at the Administrative Agent&#146;s discretion), the Eurocurrency Rate for such Interest Period shall be the rate determined by the Administrative Agent by means of straight-line interpolation, or (ii)&nbsp;in the event the rate referenced
in the preceding clause is not available, the rate <I>per annum</I> equal to the offered quotation rate to first class banks in the London interbank market by the Administrative Agent for deposits (for delivery on the first day of the relevant
period) in Euros of amounts in same day funds comparable to the principal amount of the applicable Loan of the Administrative Agent, in its capacity as a Lender, for which the Eurocurrency Rate is then being determined with maturities comparable to
such period as of approximately 11:00&nbsp;a.m. (Brussels, Belgium time) two TARGET Days prior to the commencement of such Interest Period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Event of Default</U>&#148; has the meaning assigned to such term in Section&nbsp;7.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Rate</U>&#148; means, as of any day, the rate at which the relevant currency may be exchanged into Euro or
U.S. Dollars, as applicable, at approximately 11:00 a.m., New York City time, on such date on the Bloomberg Key Cross Currency Rates Page (or any successor page) for the relevant currency. In the event that such rate does not appear on any Bloomberg
Key Cross Currency Rates Page (or any successor page), the Exchange Rate shall be determined by the Borrower in good faith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Contributions</U>&#148; means the cash, Cash Equivalents or other assets (valued at their Fair Market Value as determined in
good faith by the Borrower) received by the Borrower after the Closing Date from: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) contributions to its common equity capital; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the sale (other than to a Subsidiary of the Borrower or to any Subsidiary management equity plan or stock option plan or any other
management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Borrower, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case designated as Excluded Contributions pursuant to an Officer&#146;s Certificate executed by an
Officer of the Borrower on or promptly after the date such capital contributions are made or the date such Capital Stock is sold, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Taxes</U>&#148; means, with respect to the Administrative Agent, any Lender, or any other recipient of any payment to be
made by or on account of any obligation of any Loan Party hereunder or under any other Loan Document, (a)&nbsp;Taxes imposed on or measured by its net income (however denominated) and franchise Taxes (including gross receipts Taxes) imposed on it
(in lieu of net income Taxes), including, for the avoidance of doubt, any backup withholding with respect to any of the foregoing, as a result of (i)&nbsp;such recipient being organized under the laws of, or having its principal office or, in the
case of any Lender, its applicable lending office in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii)&nbsp;any other present or former connection between such recipient and the jurisdiction imposing such Tax (or any
political subdivision thereof) (including, for example, if the Lender, Administrative Agent or any other recipient has or will acquire a direct or indirect substantial interest (<I>aanmerkelijk belang</I>) as defined in the Netherlands Income Tax
Act 2001 in the Borrower), other than a connection arising solely from such recipient having executed, delivered, or become a party to, performed its obligations or received payments under, received or perfected a security interest under, sold or
assigned an interest in, engaged in any other transaction pursuant to, or enforced, any Loan Documents, (b)&nbsp;any branch profits Tax or any similar Tax imposed by any jurisdiction described in clause&nbsp;(a) above, (c)&nbsp;any Tax that is
attributable to a recipient&#146;s failure to comply with Section&nbsp;2.14(e), (d)&nbsp;any Dutch withholding Tax imposed due to a Requirement of Law in effect at the time a Lender becomes a party thereto (or designates a new lending office) except
to the extent that such Lender (or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts with respect to such Tax under Section&nbsp;2.16(a), and (e)&nbsp;any U.S.
federal withholding Tax imposed pursuant to FATCA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Existing Credit Agreement</U>&#148; means that certain Credit Agreement,
dated as of May&nbsp;25, 2012 among Constellium N.V. (formerly Constellium Holdco B.V.), as Dutch Borrower and Constellium France S.A.S., as French Borrower (as amended, amended and restated, supplemented or otherwise modified from time to time
through the date hereof), the lenders from time to time party thereto and Deutsche Bank AG, New York Branch, as administrative agent </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exposure</U>&#148; means, with respect to any Lender, at any time: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) prior to the termination of the Commitments hereunder, the sum of that Lender&#146;s Commitments; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) following the termination of the Commitments hereunder, the sum of the outstanding principal amount of such Lender&#146;s Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Factoring Facilities</U>&#148; means the receivables purchase facilities granted to certain Subsidiaries of the Borrower pursuant to
(a)&nbsp;the agreement dated as of January&nbsp;4, 2011 between GE Factofrance S.A.S. as purchaser, Constellium France, Constellium Extrusions France and Constellium Aviatube as sellers, Constellium Holdco II B.V. and Constellium Switzerland AG,
(b)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Singen GmbH as seller, (c)&nbsp;the agreement dated as of December&nbsp;16, 2010 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
between GE Capital Bank AG as purchaser and Constellium Extrusions Deutschland GmbH as seller and (d)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser
and Constellium Valais AG as seller, in each case, as such agreement may be amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original parties or otherwise), restructured, or otherwise modified
from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fair Market Value</U>&#148; means, with respect to any asset or property, the price which could be negotiated
in an arm&#146;s-length, free market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>FATCA</U>&#148; means Sections&nbsp;1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor
version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements entered into pursuant to Section&nbsp;1471(b)(1) of the Code or any
legislation adopted pursuant to any intergovernmental agreement entered into in connection with the implementation of such Sections of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>FCPA</U>&#148; means the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Financial Officer</U>&#148; means the chief financial officer, principal accounting officer, treasurer, controller or other financial
officer of the Borrower. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Financial Support Direction</U>&#148; means a financial support direction issued by the Pensions
Regulator under Section&nbsp;43 of the Pensions Act 2004. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fiscal Year</U>&#148; means the four fiscal quarter period of the
Borrower ending December&nbsp;31. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fixed Charge Coverage Ratio</U>&#148; means, with respect to any Person for any period, the
ratio of EBITDA of such Person for such period to the Fixed Charges of such Person for such period. In the event that the Borrower or any of its Restricted Subsidiaries Incurs, repays, repurchases, retires, extinguishes, defeases, discharges or
redeems any Indebtedness (other than in the case of revolving credit borrowings or revolving advances under any receivables financing, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during
the applicable period unless such Indebtedness has been permanently repaid and has not been replaced) or issues, repurchases or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge
Coverage Ratio is being calculated but on or prior to the event for which the calculation of the Fixed Charge Coverage Ratio is made (the &#147;<U>Fixed Charge Coverage Ratio Calculation Date</U>&#148;), then the Fixed Charge Coverage Ratio shall be
calculated giving pro forma effect to such Incurrence, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase, retirement, extinguishment, defeasance, discharge or redemption of Disqualified Stock or Preferred Stock, as if
the same had occurred at the beginning of the applicable four-quarter period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of making the computation referred to above, Investments, acquisitions,
dispositions, mergers, amalgamations, consolidations and discontinued operations (as determined in accordance with IFRS), in each case with respect to an operating unit of a business, and any operational changes that the Borrower or any of its
Restricted Subsidiaries has determined to make and/or made during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Fixed Charge Coverage Ratio Calculation Date (each, for purposes
of this definition, a &#147;<U>pro forma event</U>&#148;) shall be calculated on a pro forma basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and operational
changes (and the change of any associated fixed charge obligations and the change in EBITDA resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently
became a Restricted Subsidiary or was merged with or into the Borrower or any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued
operation or operational change, in each case with respect to an operating unit of a business, that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto
for such period as if such Investment, acquisition, disposition, discontinued operation, merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in
good faith by a responsible financial or accounting officer of the Borrower. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Borrower, to reflect (1)&nbsp;operating expense
reductions and other operating improvements or synergies reasonably expected to result from the applicable pro forma event, and (2)&nbsp;all adjustments of the nature used in connection with the calculation of &#147;Adjusted EBITDA&#148; as set
forth in &#147;Summary Consolidated Historical Financial Data&#148; in the Offering Memorandum dated as of April&nbsp;30, 2014 relating to the Notes to the extent such adjustments, without duplication, continue to be applicable to such four-quarter
period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness
shall be calculated as if the rate in effect on the Fixed Charge Coverage Ratio Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness if such Hedging
Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Borrower to be the rate
of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be
computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank
offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Borrower may designate. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fixed Charge Coverage Ratio Calculation Date</U>&#148; has the meaning assigned to such
term in the definition of Fixed Charge Coverage Ratio. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fixed Charges</U>&#148; means, with respect to any Person for any period,
the sum, without duplication, of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Consolidated Interest Expense of such Person for such period, and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) all cash dividend payments (excluding items eliminated in consolidation) on any series of Preferred Stock or Disqualified Stock of such
Person and its Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Foreign Subsidiary</U>&#148; means a Restricted Subsidiary not organized or existing
under the laws of the United States of America or any state or territory thereof or the District of Columbia. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>French
Subsidiaries</U>&#148; means any Subsidiary of the Borrower that is organized under the laws of France. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Goldman Sachs</U>&#148;
means Goldman Sachs Bank USA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>German Insolvency Code (<I>Insolvenzordnung</I>)</U>&#148; means the German Insolvency Code
(<I>Insolvenzordnung</I>) of October&nbsp;5, 1994 (BGBI. I S. 2866), as amended from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental
Authority</U>&#148; means the government of the United States of America, any other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity
exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee</U>&#148; means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of
business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. The amount of any guarantee shall be deemed
to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof as determined in good faith by the Borrower. The term &#147;guarantee&#148; as a verb has a corresponding meaning. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee Agreement</U>&#148; means the Master Guarantee Agreement, dated as of date hereof, among the Loan Parties named therein and
the Administrative Agent, substantially in the form of Exhibit&nbsp;B. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee Requirement</U>&#148; means, at any time, and
subject to applicable limitations set forth in this Agreement or any other Loan Document, and subject to and in accordance with the Guarantee Principles, the requirement that the Administrative Agent shall have received either (x)&nbsp;in the case
of any Restricted Subsidiary that is a party to the Guarantee </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Agreement as of the Closing Date, a counterpart to the Guarantee Agreement, duly executed and delivered on behalf of such Person or (y)&nbsp;in the case of any Restricted Subsidiary that becomes
a Loan Party after the Closing Date (including pursuant to the Guarantor Coverage Test), a supplement to the Guarantee Agreement, duly executed and delivered on behalf of such Restricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee Principles</U>&#148; means the Guarantee Principles set forth on Schedule&nbsp;1.01(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantor Coverage Test</U>&#148; has the meaning assigned to such term in Section&nbsp;5.11(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hazardous Materials</U>&#148; means any substance, material, pollutant, contaminant, chemical, waste, compound or constituent in any
form, including petroleum or petroleum <FONT STYLE="white-space:nowrap">by-products</FONT> or distillates, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes regulated pursuant to any
Environmental Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hedging Obligations</U>&#148; means, with respect to any Person, the obligations of such Person under: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) currency exchange, interest rate or commodity Swap Agreements, currency exchange, interest rate or commodity cap agreements and currency
exchange, interest rate or commodity collar agreements; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) other agreements or arrangements designed to protect such Person against
fluctuations in currency exchange, interest rates or commodity prices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>IFRS</U>&#148; means International Financial Reporting
Standards promulgated from time to time by the International Accounting Standards Board (or any successor board or agency, together the &#147;<I>IASB</I>&#148;) and as adopted by the European Union and statements and pronouncements of the IASB or in
such other statements by such other entity as have been approved by a significant segment of the accounting profession, which are in effect from time to time (other than with respect to Capitalized Lease Obligations), it being understood that, for
purposes of this Agreement, all references to codified accounting standards specifically named in this Agreement shall be deemed to include any successor, replacement, amended or updated accounting standard under IFRS; <I>provided</I> that, at any
time after adoption of GAAP by the Borrower (or the relevant reporting entity) for its financial statements and reports for all financial reporting purposes, the Borrower (or the relevant reporting entity) may irrevocably elect to apply GAAP for all
purposes of this Agreement, and, upon any such election, references in this Agreement to IFRS shall be construed to mean GAAP as in effect on the date of such election and thereafter from time to time; <I>provided</I> that (1)&nbsp;all financial
statements and reports required to be provided after such election pursuant to this Agreement shall be prepared on the basis of GAAP, (2)&nbsp;from and after such election, all ratios, computations, calculations and other determinations based on
IFRS contained in this Agreement shall be computed in conformity with GAAP (other than with respect to Capitalized Lease Obligations) with retroactive effect being given thereto assuming that such election had been made on the Closing Date,
(3)&nbsp;such election shall not have the effect of rendering invalid any payment or Investment made prior to the date of such election pursuant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to Section&nbsp;6.02 or any Incurrence of Indebtedness or Liens Incurred prior to the date of such election pursuant to Section&nbsp;6.01 (or any other action conditioned on the Borrower and the
Restricted Subsidiaries having been able to Incur $1.00 of additional Indebtedness) or Section&nbsp;6.06 if such payment, Investment, Incurrence or other action was valid under this Agreement on the date made, Incurred or taken, as the case may be
and (4)&nbsp;all accounting terms and references in this Agreement to accounting standards shall be deemed to be references to the most comparable terms or standards under GAAP. The Borrower shall give written notice of any election to the
Administrative Agent within 15 days of such election. For the avoidance of doubt, (i)&nbsp;solely making an election (without any other action) referred to in this definition will not be treated as an Incurrence of Indebtedness or Liens, and
(ii)&nbsp;nothing herein shall prevent the Borrower, any Restricted Subsidiary or reporting entity from adopting or changing its functional or reporting currency in accordance with IFRS, or GAAP, as applicable; <I>provided</I> that such adoption or
change shall not have the effect of rendering invalid any payment or Investment made prior to the date of such election pursuant to the covenant described under Section&nbsp;6.02 or any Incurrence of Indebtedness or Liens Incurred prior to the date
of such adoption or change pursuant to the covenant described under Section&nbsp;6.01 or Section&nbsp;6.06 (or any other action conditioned on the Borrower and the Restricted Subsidiaries having been able to Incur $1.00 of additional Indebtedness)
if such payment, Investment, Incurrence or other action was valid under this Agreement on the date made, Incurred or taken, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Incremental Cap</U>&#148; has the meaning assigned to such term in Section&nbsp;2.17(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Incremental Facility Amendment</U>&#148; has the meaning assigned to such term in Section&nbsp;2.17(c). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Incremental Facility Closing Date</U>&#148; has the meaning assigned to such term in Section&nbsp;2.17(c). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Incur</U>&#148; means issue, assume, guarantee, incur or otherwise become liable for; <I>provided</I>, <I>however</I>, that any
Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a
Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indebtedness</U>&#148; means, with respect to any Person (without duplication): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the principal and premium (if any) of any indebtedness of such Person, whether or not contingent, (a)&nbsp;in respect of borrowed money,
(b)&nbsp;evidenced by bonds, notes, debentures or similar instruments (except any such obligation issued in the ordinary course of business with a maturity date of no more than six months in a transaction intended to extend payment terms of trade
payables or similar obligations to trade creditors incurred in the ordinary course of business) or letters of credit or bankers&#146; acceptances (or, without duplication, reimbursement agreements in respect thereof), (c)&nbsp;representing the
deferred and unpaid purchase price of any property (except (i)&nbsp;any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case Incurred in the ordinary course of business, (ii)&nbsp;any earn-out
obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with IFRS and (iii)&nbsp;liabilities incurred in the ordinary course of business), (d)&nbsp;in respect of Capitalized Lease Obligations, or
(e)&nbsp;representing any Hedging Obligations, if and to the extent that any of the foregoing indebtedness would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance with IFRS; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) to the extent not otherwise included, any obligation of such Person to be liable for, or to
pay, as obligor, guarantor or otherwise, the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such Person (whether or not
such Indebtedness is assumed by such Person); <I>provided</I>, <I>however</I>, that the amount of such Indebtedness will be the lesser of: (a)&nbsp;the Fair Market Value of such asset at such date of determination, and (b)&nbsp;the amount of such
Indebtedness of such other Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I>provided, however</I>, that notwithstanding the foregoing, Indebtedness shall be deemed not to
include (1)&nbsp;Contingent Obligations incurred in the ordinary course of business and not in respect of borrowed money; (2)&nbsp;deferred or prepaid revenues; (3)&nbsp;purchase price holdbacks in respect of a portion of the purchase price of an
asset to satisfy warranty or other unperformed obligations of the respective seller; or (4)&nbsp;obligations under or in respect of Factoring Facilities or Qualified Receivables Financings permitted pursuant to Section&nbsp;6.01(a)(xvii). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary herein, Indebtedness shall not include, and shall be calculated without giving effect to, the effects
of International Accounting Standards No.&nbsp;39 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Agreement as a result of accounting for any embedded
derivatives created by the terms of such Indebtedness and any such amounts that would have constituted Indebtedness under this Agreement but for the application of this sentence shall not be deemed an incurrence of Indebtedness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnified Taxes</U>&#148; means Taxes other than Excluded Taxes and Other Taxes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnitee</U>&#148; has the meaning assigned to such term in Section&nbsp;9.03(b). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indentures</U>&#148; means (a)&nbsp;that certain Indenture relating to the Euro-denominated 4.625% senior notes due 2021, dated as of
May&nbsp;7, 2014, among Constellium N.V., the guarantors from time to time party thereto and Deutsche Bank Trust Company Americas as Trustee and (b)&nbsp;that certain Indenture relating to the U.S. dollar-denominated 5.750% senior notes due 2024,
dated as of May&nbsp;7, 2014, among Constellium N.V., the guarantors from time to time party thereto and Deutsche Bank Trust Company Americas as Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Independent Financial Advisor</U>&#148; means an accounting, appraisal or investment banking firm or consultant, in each case of
nationally recognized standing, that is, in the good faith determination of the Borrower, qualified to perform the task for which it has been engaged. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indirect Tax</U>&#148; means value added tax as provided for in Council Directive 2006/112/EC on the common system of value added tax
or any legislation in a Member State implementing such Council Directive and any other tax of a similar nature (including goods and services tax) wherever imposed. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Information</U>&#148; has the meaning assigned to such term in Section&nbsp;9.13(a).
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Initial Commitment</U>&#148; means, with respect to each Lender, the commitment of such Lender to make Loans hereunder,
expressed as an amount representing the maximum principal amount of the Loans to be made by such Lender, as such commitment may be&nbsp;(a) reduced from time to time pursuant to Section&nbsp;2.06 and (b)&nbsp;reduced or increased from time to time
pursuant to assignments by or to such Lender pursuant to an Assignment and Assumption. The amount of each Lender&#146;s Initial Commitment as of the Closing Date is set forth on Schedule&nbsp;2.01 or in the Assignment and Assumption pursuant to
which such Lender shall have assumed its Initial Commitment, as the case may be. The initial aggregate amount of the Lenders&#146; Initial Commitments on the Closing Date is &#128;120,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intellectual Property</U>&#148; shall mean, the collective reference to all rights, priorities and privileges relating to
intellectual property, whether arising under the United States, multinational or foreign laws or otherwise, including without limitation, with respect to any patents, trademarks, service marks, designs, business names, copyrights, design rights,
moral rights, inventions, confidential information, knowhow and other intellectual property rights and interests, whether registered or unregistered, and the benefit of all applications and rights to use such assets of the Borrower and its
Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Election Request</U>&#148; means a request by the Borrower to convert or continue a Borrowing in
accordance with Section&nbsp;2.05. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Payment Date</U>&#148; means, with respect to any Loan, the last day of the Interest
Period applicable to the Borrowing of which such Loan is a part and, in the case of a Loan with an Interest Period of more than three months&#146; duration, each day prior to the last day of such Interest Period that occurs at intervals of three
months&#146; duration after the first day of such Interest Period. Notwithstanding the foregoing, the Borrower and the Administrative Agent may separately agree that the initial Interest Period commencing on the Closing Date shall end on any other
mutually agreeable date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Period</U>&#148; means, with respect to any Borrowing, the period commencing on the date such
Borrowing is disbursed or converted to or continued and ending on the date that is one, two, three or six months thereafter as selected by the Borrower in its Borrowing Request (if agreed to by each Lender participating therein, twelve months or
less than one month, at the Administrative Agent&#146;s discretion); <U>provided</U> that (a)&nbsp;if any Interest Period would end on a day other than a Business Day, such Interest Period shall be extended to the next succeeding Business Day unless
such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the next preceding Business Day, (b)&nbsp;any Interest Period that commences on the last Business Day of a calendar month (or on
a day for which there is no numerically corresponding day in the last calendar month of such Interest Period) shall end on the last Business Day of the last calendar month at the end of such Interest Period and (c)&nbsp;no Interest Period shall
extend beyond the Maturity Date. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be the effective date of the most recent conversion or continuation of such Borrowing.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Grade Rating</U>&#148; means a rating equal to or higher than Baa3 (or the
equivalent) by Moody&#146;s and BBB- (or the equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Grade Securities</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality thereof (other than
Cash Equivalents), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) securities that have a rating equal to or higher than Baa3 (or equivalent) by Moody&#146;s or BBB- (or equivalent)
by S&amp;P, or an equivalent rating by any other Rating Agency, but excluding any debt securities or loans or advances between and among the Borrower and its Subsidiaries, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) investments in any fund that invests exclusively in investments of the type described in clauses (a)&nbsp;and (b)&nbsp;which fund may also
hold immaterial amounts of cash pending investment and/or distribution, and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) corresponding instruments in countries other than the
United States customarily utilized for high quality investments and in each case with maturities not exceeding two years from the date of acquisition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investments</U>&#148; means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in
the form of loans (including Guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission, travel and similar advances to officers, employees and consultants made in the
ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by IFRS to be classified on the balance sheet of the
Borrower in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For purposes of the definition of &#147;Unrestricted Subsidiary&#148; and
Section&nbsp;6.02: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) &#147;Investments&#148; shall include the portion (proportionate to the Borrower&#146;s equity interest in such
Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Borrower at the time that such Subsidiary is designated an Unrestricted Subsidiary; <I>provided</I>, <I>however</I>, that upon a redesignation of such Subsidiary as a
Restricted Subsidiary, the Borrower shall be deemed to continue to have a permanent &#147;Investment&#148; in an Unrestricted Subsidiary equal to an amount (if positive) equal to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Borrower&#146;s &#147;Investment&#148; in such Subsidiary at the time of such redesignation less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the portion (proportionate to the Borrower&#146;s equity interest in such Subsidiary) of the Fair Market Value of the net
assets of such Subsidiary at the time of such redesignation; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any property transferred to or from an Unrestricted Subsidiary shall be valued at its Fair
Market Value at the time of such transfer, in each case as determined in good faith by the Borrower. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Joint Bookrunners</U>&#148;
means DBSI, BNP Paribas and Goldman Sachs, each in its capacity as a joint bookrunner. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Joint Lead Arrangers</U>&#148; means
DBSI, BNP Paribas and Goldman Sachs, each in its capacity as a joint lead arranger. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lender Insolvency Event</U>&#148; means that
(i)&nbsp;a Lender or its Parent Company is insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a general assignment for the benefit of its creditors
or (ii)&nbsp;such Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or the like has been appointed for such
Lender or its Parent Company, or such Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in any such proceeding or appointment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lenders</U>&#148; means the Persons listed on Schedule&nbsp;2.01 and any other Person that shall have become a party hereto pursuant
to an Assignment and Assumption or an Incremental Facility Amendment, in each case, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lending Office</U>&#148; means for any Lender, the office or offices of such Lender described as such in such Lender&#146;s
Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lien</U>&#148; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any kind in
respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to give a security
interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction); <I>provided</I> that in no event shall an operating lease or an option or an agreement to
sell be deemed to constitute a Lien. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Loan Document Obligations</U>&#148; means (a)&nbsp;the due and punctual payment by the
Borrower of (i)&nbsp;the principal of and interest at the applicable rate or rates provided in this Agreement (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of
whether allowed or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, and (ii)&nbsp;all other monetary obligations of the Borrower under or
pursuant to this Agreement and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including
monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), (b)&nbsp;the due
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and punctual payment and performance of all other obligations of the Borrower under or pursuant to each of the Loan Documents and (c)&nbsp;the due and punctual payment and performance of all the
obligations of each other Loan Party under or pursuant to the Guarantee Agreement and each of the other Loan Documents (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar
proceeding, regardless of whether allowed or allowable in such proceeding). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Loan Documents</U>&#148; means this Agreement, the
Guarantee Agreement, the Affiliate Subordination Agreement and, except for purposes of Section&nbsp;9.02, any promissory notes delivered pursuant to Section&nbsp;2.07(e). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Loan Parties</U>&#148; means the Borrower and any Subsidiary Loan Parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Loans</U>&#148; has the meaning assigned to such term in Section&nbsp;2.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Margin Stock</U>&#148; has the meaning set forth in Regulation U of the Board of Governors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Adverse Effect</U>&#148; means the existence of any event, development or circumstance that has had or could reasonably be
expected to have a material adverse effect on (a)&nbsp;the consolidated business, assets or financial condition of the Borrower and its Subsidiaries, taken as a whole, or (b)&nbsp;the validity or enforceability of any Loan Document or the rights and
remedies of the Administrative Agent and the Lenders thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Subsidiary</U>&#148; means (i)&nbsp;Constellium
Ravenswood and (ii)&nbsp;any other Restricted Subsidiary which (a)&nbsp;as of the last day of the Fiscal Year of the Borrower most recently ended, has assets with a value equal to or in excess of 5% of the Total Assets or EBITDA representing at
least 5% of EBITDA of the Borrower and the Restricted Subsidiaries on a consolidated basis as of such date, (b)&nbsp;is the direct or indirect parent of a Restricted Subsidiary described in clause&nbsp;(i) of this definition or (c)&nbsp;is a Loan
Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Maturity Date</U>&#148; means May&nbsp;7, 2017. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Maximum Rate</U>&#148; has the meaning assigned to such term in Section&nbsp;9.18. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>MNPI</U>&#148; means any material information with respect to the Borrower or any of its Subsidiaries or any of its or their
respective securities for purposes of United States federal, state and relevant foreign securities laws that is not publicly available and has not been and will not be made available to investors in the Borrower&#146;s securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Moody&#146;s</U>&#148; means Moody&#146;s Investors Service, Inc. and any successor to its rating agency business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Multiemployer Plan</U>&#148; means a &#147;multiemployer plan&#148; as defined in Section&nbsp;4001(a)(3) of ERISA, to which the
Borrower or any ERISA Affiliate incurs or otherwise has, or within the immediately preceding six (6)&nbsp;year period has incurred or has had, any obligation or liability, contingent or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Income</U>&#148; means, with respect to any Person, the net income (loss) of such
Person, determined in accordance with IFRS and before any reduction in respect of Preferred Stock dividends. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net
Proceeds</U>&#148; means the aggregate cash proceeds received by the Borrower or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of
any Designated Non-cash Consideration received in any Asset Sale and any cash payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the
assumption by the acquiring person of Indebtedness relating to the disposed assets or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated
Non-cash Consideration (including, without limitation, legal, accounting and investment banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after
taking into account any available tax credits or deductions and any tax sharing arrangements related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant
to Section&nbsp;6.04(b)) to be paid as a result of such transaction, and any deduction of appropriate amounts to be provided by the Borrower as a reserve in accordance with IFRS against any liabilities associated with the asset disposed of in such
transaction and retained by the Borrower after such sale or other disposition thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any
indemnification obligations associated with such transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-Consenting Lender</U>&#148; has the meaning assigned to such
term in Section&nbsp;9.02(c). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-Defaulting Lender</U>&#148; means, at any time, a Lender that is not a Defaulting Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Loan Parties</U>&#148; means the Loan Parties other than the U.S. Loan Parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan</U>&#148; means any employee pension benefit plan or other employee benefit
plan maintained or contributed to by the Borrower or any of its Subsidiaries, or with respect to which any of them has any liability (contingent or otherwise), that is governed by the laws of a jurisdiction other than the United States. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U><FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Subsidiary</U>&#148; means any Subsidiary that is organized under the laws of a
jurisdiction other than the United States of America, any State thereof or the District of Columbia. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Notes</U>&#148; means,
collectively, Constellium N.V.&#146;s $5.750% senior notes due 2024 and &#128;4.625% senior notes due 2021, in each case, issued on the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>OFAC</U>&#148; has meaning set forth in the definition of &#147;Embargoed Person.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Officer</U>&#148; means the Chairman of the Board, Chief Executive Officer, Chief
Financial Officer, President, any Executive Vice President, Senior Vice President or Vice President, the Treasurer or the Secretary of the Borrower or its Subsidiary, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Officer&#146;s Certificate</U>&#148; means a certificate signed on behalf of the Borrower by an Officer of the Borrower, who must be
the principal executive officer, the principal financial officer, the treasurer, the secretary or the principal accounting officer of the Borrower or its Subsidiary, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Organizational Documents</U>&#148; means, (i)&nbsp;with respect to any Person not organized under German law, Dutch law, Swiss law or
French law, the charter, articles or certificate of organization or incorporation and <FONT STYLE="white-space:nowrap">by-laws</FONT> or other organizational or governing documents of such Person (including any limited liability company or operating
agreement), (ii)&nbsp;with respect to any Person organized under German law, an up-to-date commercial register extract (<I>Handelsregisterausdruck</I>), its articles of association (<I>Satzung</I>), or partnership agreement
(<I>Gesellschaftsvertrag</I>), copies of any <FONT STYLE="white-space:nowrap">by-laws</FONT> as well as a list of shareholders (<I>Gesellschafterliste</I>) (if applicable), (iii)&nbsp;with respect to any Person organized under Dutch law,
(a)&nbsp;the deed of incorporation (<I>oprichtingsakte</I>), (b)&nbsp;the latest articles of association (<I>statuten</I>), (c)&nbsp;an original extract of the commercial register (<I>uittreksel</I>) and (d)&nbsp;an up to date shareholders register
(<I>aandeelhoudersregister</I>), (iv)&nbsp;with respect to any Person organized under Swiss law, an up-to-date copy of the articles of association (<I>Statuten</I>) certified (<I>beglaubigt</I>) by the competent commercial register and an up-to-date
excerpt from the competent commercial register (<I>Handelsregisterauszug</I>) and (v)&nbsp;with respect to any Person organized under French law, a copy of its <FONT STYLE="white-space:nowrap">by-laws</FONT> (<I>statuts</I>). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Other Taxes</U>&#148; means any and all present or future recording, stamp, documentary, excise or similar Taxes, charges or levies
arising from any payment made under any Loan Document or from the execution, delivery or enforcement of, or otherwise with respect to, any Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Overnight Rate</U>&#148; means, for any day, the rate of interest per annum at which overnight deposits in Euros, in an amount
approximately equal to the amount with respect to which such rate is being determined, would be offered for such day by a branch or Affiliate of the Administrative Agent in the applicable offshore interbank market for Euros to major banks in such
interbank market. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Parent Company</U>&#148; means, with respect to a Lender, the bank holding company (as defined in Regulation Y
of the Board of Governors), if any, of such Lender, and/or any Person owning, beneficially or of record, directly or indirectly, a majority of the equity interests of such Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pari Passu Indebtedness</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) with respect to the Borrower, any Indebtedness which ranks pari passu in right of payment to the Loan Document Obligations; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) with respect to any Subsidiary Loan Party, any Indebtedness which ranks pari passu in right
of payment to such Subsidiary Loan Party&#146;s Guarantee under the Guarantee Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Participant</U>&#148; has the meaning
assigned to such term in Section&nbsp;9.04(c)(i). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Participant Register</U>&#148; has the meaning assigned to such term in
Section&nbsp;9.04(c)(ii). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Participating Member State</U>&#148; means each state so described in any EMU Legislation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>PBGC</U>&#148; means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any successor entity performing
similar functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Pensions Regulator</U>&#148; means the body corporate called the Pensions Regulator established under Part I
of the Pensions Act 2004. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Investments</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any Investment in the Borrower or any Restricted Subsidiary; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any Investment in Cash Equivalents or Investment Grade Securities; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) any Investment by the Borrower or any Restricted Subsidiary of the Borrower in a Person if as a result of such Investment (a)&nbsp;such
Person becomes a Restricted Subsidiary of the Borrower, or (b)&nbsp;such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially all of its
assets to, or is liquidated into, the Borrower or a Restricted Subsidiary of the Borrower; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) any Investment in securities or other
assets not constituting Cash Equivalents and received in connection with an Asset Sale made pursuant to Section&nbsp;6.04 or any other disposition of assets not constituting an Asset Sale; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) any Investment existing on, or made pursuant to binding commitments existing on, the Closing Date or an Investment consisting of any
extension, modification or renewal of any Investment existing on the Closing Date; <I>provided</I> that the amount of any such Investment may only be increased as required by the terms of such Investment as in existence on the Closing Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) advances to directors, officers or employees, taken together with all other advances made pursuant to this clause (f), not to exceed
&#128;15,000,000 at any one time outstanding; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) any Investment acquired by the Borrower or any of its Restricted Subsidiaries
(i)&nbsp;in exchange for any other Investment or accounts receivable held by the Borrower or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable; (ii)&nbsp;as a result of a foreclosure by the Borrower or any of its Restricted
Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default; or (iii)&nbsp;as a result of the settlement, compromise or resolution of litigation, arbitration or other disputes with
Persons who are not Affiliates; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Hedging Obligations permitted under Section&nbsp;6.01(b)(xi); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) additional Investments by the Borrower or any of its Restricted Subsidiaries having an aggregate Fair Market Value, taken together with
all other Investments made pursuant to this clause (i)&nbsp;that are at that time outstanding, not to exceed the greater of (x)&nbsp;&#128;100,000,000 and (y)&nbsp;5.5% of Total Assets at the time of such Investment (with the Fair Market Value of
each Investment being measured at the time made and without giving effect to subsequent changes in value); <I>provided</I>, <I>however</I>, that if any Investment made pursuant to this clause (i)&nbsp;is made in any Person that is not a Restricted
Subsidiary of the Borrower at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Borrower after such date, such Investment shall thereafter be deemed to have been made pursuant to clause (a)&nbsp;above
and shall cease to have been made pursuant to this clause (i)&nbsp;for so long as such Person continues to be a Restricted Subsidiary; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses and other similar expenses,
in each case Incurred in the ordinary course of business or to fund such Person&#146;s purchase of Equity Interests of the Borrower or any direct or indirect parent of the Borrower; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) Investments, the payment for which consists of Equity Interests of the Borrower (other than Disqualified Stock) or any direct or indirect
parent of the Borrower, as applicable; provided, however, that such Equity Interests will not increase the amount available for Restricted Payments under clause (b)&nbsp;of the definition of &#147;Cumulative Credit&#148;; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance with the provisions of
Section&nbsp;6.05(d) (except transactions described in Section&nbsp;6.05(d)(ii), Section&nbsp;6.05(d)(vi), and Section&nbsp;6.05(d)(viii)(2); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing arrangements with other
Persons; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) Guarantees issued in accordance with Section&nbsp;6.01; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or equipment or purchases
of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) (i) any
Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements
governing such Qualified Receivables Financing or any related Indebtedness; provided, however, that any Investment in a Receivables Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest and
(ii)&nbsp;any other Investment in connection with a Qualified Receivables Financing or Factoring Facility; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) any Investment in an entity or purchase of a business or assets in each case owned (or
previously owned) by a customer of a Restricted Subsidiary as a condition or in connection with such customer (or any member of such customer&#146;s group) contracting with a Restricted Subsidiary, in each case in the ordinary course of business;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) Investments of a Restricted Subsidiary of the Borrower acquired after the Closing Date or of an entity merged into, amalgamated with,
or consolidated with the Borrower or a Restricted Subsidiary of the Borrower in a transaction that is not prohibited by Section&nbsp;6.07 after the Closing Date to the extent that such Investments were not made in contemplation of such acquisition,
merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s)
any Investment in any Subsidiary (including any Unrestricted Subsidiary) or joint venture in connection with intercompany cash management arrangements or related activities arising in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(t) Investments in Quiver Ventures, LLC in an amount not to exceed &#128;80,000,000 at any time outstanding; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(u) Guarantees by the Borrower or any Restricted Subsidiary of operating leases or of other obligations that do not constitute Indebtedness,
in each case, entered into in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Liens</U>&#148; means, with respect to any Person: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) pledges or deposits by such Person under workmen&#146;s compensation laws, unemployment insurance laws or similar legislation, or good
faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or U.S.
government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Liens imposed by law, such as carriers&#146;, warehousemen&#146;s and mechanics&#146; Liens, in each case for sums not yet due or being
contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Liens for taxes, assessments or other governmental charges not yet due or which are being contested in good faith by appropriate
proceedings; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Liens in favor of issuers of performance and surety bonds or bid bonds or with respect to other regulatory requirements
or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of
others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person
or to the ownership of its properties which were not Incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business
of such Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Liens securing Indebtedness permitted to be Incurred pursuant to Section&nbsp;6.01(b)(v); provided that such Lien
extends only to the property and/or Capital Stock, the purchase, lease, construction or improvement of which is financed thereby and any income or profits therefrom); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Liens existing on the Closing Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Liens on assets, property or shares of stock of a Person in existence at the time such Person becomes a Subsidiary; provided, however,
that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; provided, further, however, that such Liens may not extend to any other property owned by the Borrower or any
Restricted Subsidiary of the Borrower; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Liens on assets or property at the time the Borrower or a Restricted Subsidiary of the
Borrower acquired the assets or property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Borrower or any Restricted Subsidiary of the Borrower; provided, however, that such Liens are not created or
Incurred in connection with, or in contemplation of, such acquisition; provided, further, however, that the Liens may not extend to any other property owned by the Borrower or any Restricted Subsidiary of the Borrower; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) Liens on assets of a Restricted Subsidiary that is not a Subsidiary Loan Party securing Indebtedness of such Restricted Subsidiary
permitted to be Incurred pursuant to Section&nbsp;6.01, other than Indebtedness owed to another Restricted Subsidiary that is not a Subsidiary Loan Party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) Liens securing Hedging Obligations not incurred in violation of the Loan Documents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person&#146;s obligations in respect of
bankers&#146; acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of the Borrower or any
of its Restricted Subsidiaries; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) Liens arising from Uniform Commercial Code financing statement filings regarding operating leases
entered into by the Borrower and its Restricted Subsidiaries in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) Liens in favor of the Borrower or any Subsidiary Loan Party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) Liens on accounts receivable and related assets of the type specified in the definition of &#147;Receivables Financing&#148; Incurred in
connection with Factoring Facilities and Qualified Receivables Financings permitted pursuant to Section&nbsp;6.01(a)(xvii); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) deposits
made in the ordinary course of business to secure liability to insurance carriers; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) Liens on the Equity Interests of Unrestricted
Subsidiaries; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s) grants of software and other technology licenses in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(t) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings, extensions,
renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (f), (g), (h)&nbsp;and (i); provided, however, that (x)&nbsp;such new Lien shall be limited to all or part of the same
property that secured the original Lien (plus improvements on such property), and (y)&nbsp;the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A)&nbsp;the outstanding principal amount or, if
greater, committed amount of the Indebtedness described under clauses (f), (g), (h)&nbsp;and (i)&nbsp;at the time the original Lien became a Permitted Lien under this Agreement, and (B)&nbsp;an amount necessary to pay any fees and expenses,
including premiums, related to such refinancing, refunding, extension, renewal or replacement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(u) Liens on equipment of the Borrower or
any Restricted Subsidiary granted in the ordinary course of business to the Borrower&#146;s or such Restricted Subsidiary&#146;s client at which such equipment is located; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights related to
litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(w) Liens arising out
of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered into in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(x) Liens incurred to secure cash management services or to implement cash pooling arrangements in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(y) Liens arising by virtue of any statutory or common law provisions or under the Dutch General Banking Conditions relating to banker&#146;s
liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(z) any interest or title of a lessor under any Capitalized Lease Obligations; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(aa) any encumbrance or restriction (including put and call arrangements) with respect to Capital
Stock of any joint venture or similar arrangement pursuant to any joint venture or similar agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(bb) Liens in favor of customs and
revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(cc)
Liens solely on any cash earnest money deposits made by the Borrower or any of its Restricted Subsidiaries in connection with any letter of intent or purchase agreement in respect of any Investment permitted hereunder; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(dd) Liens on securities that are the subject of repurchase agreements constituting Cash Equivalents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ee) Liens on equity interests of a joint venture securing Indebtedness of such joint venture; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ff) Liens securing Indebtedness Incurred pursuant to Section&nbsp;6.01(b)(i) or Section&nbsp;6.01(b)(ii); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(gg) Liens securing obligations (other than the Notes or any other Indebtedness Incurred pursuant to Section&nbsp;6.01(a)), which obligations
do not exceed, at the time of incurrence thereof, &#128;50,000,000; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(hh) Liens securing obligations in respect of letters of credit
or bank guarantees issued in the ordinary course of business, which letters of credit or bank guarantees do not secure debt for borrowed money. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock
company, trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Plan</U>&#148; means any &#147;employee pension benefit plan&#148; (other than a Multiemployer Plan) subject to the provisions of
Title&nbsp;IV of ERISA or Section&nbsp;412 of the Code or Section&nbsp;302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated, would under Section&nbsp;4069 of ERISA be deemed to be) an
&#147;employer&#148; as defined in Section&nbsp;3(5) of ERISA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Platform</U>&#148; means Intralinks or another similar electronic
system to which the Administrative Agent, the Joint Lead Arrangers, and/or the Joint Bookrunners may post the Borrower Materials to make the Borrower Materials available to the Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Preferred Stock</U>&#148; means any Equity Interest with preferential right of payment of dividends or upon liquidation, dissolution,
or winding up. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Proposed Change</U>&#148; has the meaning assigned to such term in Section&nbsp;9.02(c). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase Money Note</U>&#148; means a promissory note of a Receivables Subsidiary
evidencing a line of credit, which may be irrevocable, from the Borrower or any Subsidiary of the Borrower to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended to finance that portion of the
purchase price that is not paid by cash or a contribution of equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Qualified Receivables Financing</U>&#148; means
(i)&nbsp;the Receivables Financing pursuant to the Factoring Facilities (including any increase in the amount thereof); and (ii)&nbsp;any Receivables Financing that meets the following conditions: (a)&nbsp;the Borrower shall have determined in good
faith that such Receivables Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and reasonable to the Borrower or, as the case may be, the Subsidiary in question;
(b)&nbsp;all sales of accounts receivable and related assets are made at Fair Market Value; and (c)&nbsp;the financing terms, covenants, termination events and other provisions thereof shall be market terms (as determined in good faith by the
Borrower) and may include Standard Undertakings and provided that in the case of Receivables Financings under clause&nbsp;(ii), such Receivables Financings shall have no greater recourse in any material respect to the Borrower and its Restricted
Subsidiaries than the recourse to the Borrower and its Restricted Subsidiaries in the Factoring Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rating
Agency</U>&#148; means a &#147;nationally recognized statistical rating organization&#148; within the meaning of Section&nbsp;3(a)(62) under the Exchange Act selected by the Borrower or any direct or indirect parent of the Borrower as a replacement
agency for Moody&#146;s or S&amp;P, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receivables Fees</U>&#148; means distributions or payments made directly
or by means of discounts with respect to any participation interests issued or sold in connection with, and all other fees paid to a Person that is not a restricted Subsidiary in connection with, any Receivables Financing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receivables Financing</U>&#148; means any transaction or series of transactions that may be entered into by any of the
Borrower&#146;s Subsidiaries pursuant to which such Subsidiary may sell, convey or otherwise transfer to any other Person, or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of such
Subsidiary, and any assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts
receivable and other assets, in each case, which are customarily transferred in or in respect of which security interests are customarily granted in connection with asset securitization transactions or factoring transactions involving accounts
receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receivables Repurchase Obligation</U>&#148; means any obligation of a seller of receivables in a Qualified
Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off
set or counterclaim of any kind as a result of any action taken by, any failure to take any action by or any other event relating to the seller. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receivables Subsidiary</U>&#148; means a Wholly Owned Restricted Subsidiary of the
Borrower (or another Person formed for the purposes of engaging in Qualified Receivables Financing with the Borrower in which the Borrower or any Subsidiary of the Borrower makes an Investment and to which the Borrower or any Subsidiary of the
Borrower transfers accounts receivable and related assets) which engages in no activities other than in connection with the financing of accounts receivable of the Borrower and its Subsidiaries, all proceeds thereof and all rights (contractual or
other), collateral and other assets relating thereto, and any business or activities incidental or related to such business, and which is designated by the Borrower as a Receivables Subsidiary and: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i)&nbsp;is Guaranteed by the Borrower or any
other Subsidiary of the Borrower (excluding Guarantees of obligations (other than the principal of and interest on, Indebtedness) pursuant to Standard Undertakings), (ii)&nbsp;is recourse to or obligates the Borrower or any other Subsidiary of the
Borrower in any way other than pursuant to Standard Undertakings, or (iii)&nbsp;subjects any property or asset of the Borrower or any other Subsidiary of the Borrower, directly or indirectly, contingently or otherwise, to the satisfaction thereof,
other than pursuant to Standard Undertakings; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) with which neither the Borrower nor any other Subsidiary of the Borrower has any
material contract, agreement, arrangement or understanding other than on terms which the Borrower reasonably believes to be no less favorable to the Borrower or such Subsidiary than those that might be obtained at the time from Persons that are not
Affiliates of the Borrower; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) to which neither the Borrower nor any other Subsidiary of the Borrower has any obligation to maintain
or preserve such entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Recipient</U>&#148; has the meaning assigned to such term in Section&nbsp;2.14(h)(ii). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reference Period</U>&#148; has the meaning assigned to such term in the definition of &#147;Cumulative Credit.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Refunding Capital Stock</U>&#148; has the meaning assigned to such term in Section&nbsp;6.02(e)(ii). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Register</U>&#148; has the meaning assigned to such term in Section&nbsp;9.04(b)(iv). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation U</U>&#148; has the meaning set forth in Regulation U of the Board of Governors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Related Parties</U>&#148; means, with respect to any specified Person, such Person&#146;s Affiliates and the partners, directors,
officers, employees, trustees, agents, controlling persons, members, advisors and other representatives of such Person and of each of such Person&#146;s Affiliates and permitted successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Release</U>&#148; means any release, spill, emission, leaking, dumping, injection, pouring, deposit, disposal, discharge, dispersal,
leaching or migration into or through the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
environment (including ambient air, indoor air, surface water, groundwater, land surface or subsurface strata) and including within, from or into any building, or any structure, facility or
fixture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Required Lenders</U>&#148; means Lenders having Loans and unused Commitments representing more than 50% of the
aggregate outstanding Loans and unused Commitments at such time; <U>provided</U> that to the extent set forth in Section&nbsp;9.02(d), whenever there are one or more Defaulting Lenders, the total outstanding Loans and unused Commitments of each
Defaulting Lender shall in each case be excluded for purposes of making a determination of Required Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Requirements of
Law</U>&#148; means, with respect to any Person,&nbsp;any statutes, laws, treaties, rules, regulations, orders, decrees, writs, injunctions or determinations of any arbitrator or court or other Governmental Authority, in each case applicable to or
binding upon such Person or any of its property or to which such Person or any of its property is subject. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Responsible
Officer</U>&#148; means the chief executive officer, chief operating officer, president, any vice president, chief financial officer, treasurer, assistant treasurer, secretary or other similar officer, manager or a director of a Loan Party and with
respect to certain limited liability companies or partnerships that do not have officers, any director, manager, sole member, managing member or general partner thereof. Any document delivered hereunder that is signed by a Responsible Officer of a
Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such
Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Investment</U>&#148; means an Investment other than a Permitted Investment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Payment</U>&#148; has the meaning assigned to such term in Section&nbsp;6.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Subsidiary</U>&#148; means, with respect to any Person, any Subsidiary of such Person other than an Unrestricted
Subsidiary. Unless otherwise indicated in this Agreement, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Retired Capital Stock</U>&#148; has the meaning assigned to such term in Section&nbsp;6.02(e)(ii). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>S&amp;P</U>&#148; means Standard&nbsp;&amp; Poor&#146;s Ratings Services, a division of The McGraw-Hill Companies, Inc., and any
successor to its rating agency business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sale/Leaseback Transaction</U>&#148; means an arrangement relating to property now
owned or hereafter acquired by the Borrower or a Restricted Subsidiary whereby the Borrower or a Restricted Subsidiary transfers such property to a Person and the Borrower or such Restricted Subsidiary leases it from such Person, other than leases
between the Borrower and a Restricted Subsidiary of the Borrower or between Restricted Subsidiaries of the Borrower. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Same Day Funds</U>&#148; means same day or other funds as may be determined by the
Administrative Agent to be customary in the place of disbursement or payment for the settlement of international banking transactions in Euros. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sanctions</U>&#148; has the meaning assigned to such term in Section&nbsp;3.23(b). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>SEC</U>&#148; means the Securities and Exchange Commission or any Governmental Authority succeeding to any of its principal
functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Secured Indebtedness</U>&#148; means any Indebtedness secured by a Lien. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Significant Subsidiary</U>&#148; means any Restricted Subsidiary that would be a &#147;Significant Subsidiary&#148; of the Borrower
within the meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Similar Business</U>&#148; means a business, the
majority of whose revenues are derived from the activities of the Borrower and its Subsidiaries as of the Closing Date or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or
expansion thereof or ancillary thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Solvent</U>&#148; and &#147;<U>Solvency</U>&#148; means, with respect to any Person,
that (i)&nbsp;the sum of the liabilities (including contingent liabilities) of the such Person and its Restricted Subsidiaries, on a consolidated basis, does not exceed the fair value of the present assets of such Person and its Restricted
Subsidiaries, on a consolidated basis, (ii)&nbsp;the present fair saleable value of the assets of such Person and its Restricted Subsidiaries, on a consolidated basis, is greater than the total amount that will be required to pay the probable
liabilities (including contingent liabilities) of such Person and its Restricted Subsidiaries as they become absolute and matured, (iii)&nbsp;the capital of such Person and its Restricted Subsidiaries, on a consolidated basis, is not unreasonably
small in relation to their business as of the date of determination, (iv)&nbsp;such Person and its Restricted Subsidiaries, on a consolidated basis, have not incurred and do not intend to incur, or believe that they will incur, debts or other
liabilities, including current obligations, beyond their ability to pay such debts or other liabilities as they become due (whether at maturity or otherwise) and (v)&nbsp;such Person and the Restricted Subsidiaries on a consolidated basis are
&#147;solvent&#148; within the meaning given to that term and similar terms under applicable laws relating to fraudulent transfers and conveyances. For purposes of this definition, the amount of any contingent liability shall be computed as the
amount that, in light of all of the facts and circumstances existing as of the date of determination, represents the amount that can reasonably be expected to become an actual or matured liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Person</U>&#148; has the meaning assigned to such term in Section&nbsp;3.23(b). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Standard Undertakings</U>&#148; means representations, warranties, covenants, indemnities and guarantees of performance entered into
by the Borrower or any Subsidiary of the Borrower that are determined by the Borrower in good faith to be customary in a Receivables Financing, including, without limitation, those relating to the servicing of assets of a Subsidiary, it being
understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Undertaking. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Stated Maturity</U>&#148; means, with respect to any security, the date specified in
such security as the fixed date on which the final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the
option of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Statutory Reserve Rate</U>&#148; means a fraction (expressed as a decimal), the numerator of which is the number one and the
denominator of which is the number one <U>minus</U> the aggregate of the maximum reserve, liquid asset or similar percentages (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established pursuant to
Regulation&nbsp;D of the Board of Governors or other applicable banking regulators. Eurocurrency Loans shall be deemed to be subject to such reserve, liquid asset or similar requirements without benefit of or credit for proration, exemptions or
offsets that may be available from time to time to any Lender under Regulation&nbsp;D or any other applicable law, rule or regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any
reserve percentage. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subordinated Indebtedness</U>&#148; means (a)&nbsp;with respect to the Borrower, any Indebtedness of the
Borrower which is by its terms subordinated in right of payment to the Loans, and (b)&nbsp;with respect to any Subsidiary Loan Party, any Indebtedness of such Subsidiary Loan Party which is by its terms subordinated in right of payment to its
Guarantee of the Loan Document Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subject Party</U>&#148; has the meaning assigned to such term in
Section&nbsp;2.14(h). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary</U>&#148; means, with respect to any Person, (1)&nbsp;any corporation, association or other
business entity (other than a partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election
of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (2)&nbsp;any partnership,
joint venture or limited liability company of which (x)&nbsp;more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly
or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y)&nbsp;such Person or any
Subsidiary of such Person is a controlling general partner or otherwise controls such entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary Loan Party</U>&#148;
means each Subsidiary of the Borrower that is a party to the Guarantee Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Supplier</U>&#148; has the meaning assigned to
such term in Section&nbsp;2.14(h)(ii). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Swap Agreement</U>&#148; means any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; <I>provided that</I> no
phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the Borrower or any of the Restricted Subsidiaries shall be a Swap Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Swiss Tax Ruling</U>&#148; means the tax ruling covering the exemption from Swiss federal withholding tax (<I>Verrechnungssteuer</I>)
submitted to and confirmed by the Swiss Federal Tax Administration. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>TARGET Day</U>&#148; means any day on which the
Trans-European Automated Real-time Gross settlement Express Transfer (TARGET) payment system (or, if such payment system ceases to be operative, such other payment system (if any)&nbsp;determined by the Administrative Agent to be a suitable
replacement) is open for the settlement of payments in Euro. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Taxes</U>&#148; means any and all present or future taxes, levies,
imposts, duties, deductions, charges or withholdings and any similar governmental charges (including any interest and penalties with respect thereto) by any Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Test Period</U>&#148; means, at any date of determination, the period of four consecutive fiscal quarters of the Borrower then last
ended for which financial statements have been delivered or were required to have been delivered pursuant to clauses (1)&nbsp;or (2)&nbsp;of Section&nbsp;5.01(a) and, prior to the first such requirement, the four quarter period ended
December&nbsp;31, 2013. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Total Assets</U>&#148; means, as of any date of determination, the total consolidated assets of the
Borrower and the Restricted Subsidiaries, as shown on the most recent balance sheet of the Borrower, and determined as of the time of the occurrence of any event giving rise to the requirement to determine Total Assets and after giving pro forma
effect to the occurrence of such event and all other acquisitions or dispositions of a Person, business or assets that have been completed or are subject to a definitive agreement from the date of such balance sheet to the date of such event giving
rise to the requirement to determine Total Assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transaction Costs</U>&#148; means all fees, costs and expenses incurred or
payable by the Borrower or any other Restricted Subsidiary in connection with the Transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transactions</U>&#148; means
(a)&nbsp;the execution, delivery and performance by each Loan Party of the Loan Documents to which it is to be a party, (b)&nbsp;the payment of the Transaction Costs and (c)&nbsp;the repayment of all amounts outstanding and the release of all
guarantees and security interests under the Existing Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Dollars</U>&#148; and &#147;<U>$</U>&#148; each mean
the lawful currency of the United States of America. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>UK DB Plan</U>&#148; has the meaning assigned to such term in
Section&nbsp;3.15(d). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Subsidiary</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any Subsidiary of the Borrower that at the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors
of such Person in the manner provided below; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any Subsidiary of an Unrestricted Subsidiary; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Quiver Ventures, LLC and Constellium Engley (Changchung) Automotive Structures Co Ltd. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Board of Directors of the Borrower may designate any Subsidiary of the Borrower (including any newly acquired or newly formed Subsidiary
of the Borrower) to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Borrower or any other Subsidiary of the Borrower that
is not a Subsidiary of the Subsidiary to be so designated; <I>provided</I>, <I>however</I>, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur any Indebtedness pursuant to
which the lender has recourse to any of the assets of the Borrower or any of its Restricted Subsidiaries; <I>provided</I>, <I>further</I>, <I>however</I>, that either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) if such Subsidiary has consolidated assets greater than $1,000, then such designation would be permitted pursuant to
Section&nbsp;6.02. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Board of Directors of the Borrower may designate any Unrestricted Subsidiary to be a Restricted Subsidiary;
<I>provided</I>, <I></I><I>however</I>, that immediately after giving effect to such designation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) (1) the Borrower
could Incur $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test described under Section&nbsp;6.01(a) or (2)&nbsp;the Fixed Charge Coverage Ratio for the Borrower and its Restricted Subsidiaries would be equal to or
greater than such ratio for the Borrower and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) no Event of Default shall have occurred and be continuing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such designation by the Board of Directors of the Borrower shall be evidenced to the Administrative Agent by promptly filing with the
Administrative Agent a copy of the resolution of the Board of Directors of the Borrower giving effect to such designation and an Officer&#146;s Certificate certifying that such designation complied with the foregoing provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Loan Party</U>&#148; means each Loan Party that is a U.S. Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Subsidiary</U>&#148; means any Subsidiary that is organized under the laws of the United States, any state thereof or the
District of Columbia. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>USA Patriot Act</U>&#148; means the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. 107 56), as amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Voting Stock</U>&#148; of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in
the election of the Board of Directors of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Weighted Average Life to Maturity</U>&#148; means, when applied to any
Indebtedness or Disqualified Stock, as the case may be, at any date, the quotient obtained by dividing (1)&nbsp;the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment
of such Indebtedness or redemption or similar payment with respect to such Disqualified Stock multiplied by the amount of such payment, by (2)&nbsp;the sum of all such payments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wholly Owned Restricted Subsidiary</U>&#148; is any Wholly Owned Subsidiary that is a Restricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wholly Owned Subsidiary</U>&#148; of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other
ownership interests of which (other than directors&#146; qualifying shares or shares required to be held by Foreign Subsidiaries) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Withdrawal Liability</U>&#148; means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Part&nbsp;1 of Subtitle&nbsp;E of Title&nbsp;IV of ERISA. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.02 <U>Terms
Generally</U>. The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words
&#147;include,&#148; &#147;includes&#148; and &#147;including&#148; shall be deemed to be followed by the phrase &#147;without limitation.&#148; The word &#147;will&#148; shall be construed to have the same meaning and effect as the word
&#147;shall.&#148; Unless the context requires otherwise, (a)&nbsp;any definition of or reference to any agreement (including this Agreement and the other Loan Documents), instrument or other document herein shall be construed as referring to such
agreement, instrument or other document as from time to time amended, amended and restated, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein), (b)&nbsp;any reference
herein to any Person shall be construed to include such Person&#146;s successors and assigns (subject to any restrictions on assignment set forth herein) and, in the case of any Governmental Authority, any other Governmental Authority that shall
have succeeded to any or all functions thereof, (c)&nbsp;the words &#147;herein,&#148; &#147;hereof&#148; and &#147;hereunder,&#148; and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular
provision hereof, (d)&nbsp;all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e)&nbsp;the words &#147;asset&#148; and
&#147;property&#148; shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.03 <U>Dutch Terms</U>. A <FONT STYLE="white-space:nowrap">winding-up,</FONT>
administration, liquidation or dissolution includes a Dutch entity being declared bankrupt (<I>failliet verklaard</I>) or dissolved (<I>ontbonden</I>). A moratorium includes <I>surseance van betaling</I> and a moratorium is declared or occurs
includes <I>surseance verleend</I>. Any voluntary commencement or filing of a petition seeking relief under any Debtor Relief Law includes a Dutch entity having filed a notice under Section&nbsp;36 of the Tax Collection Act of the Netherlands
(<I>Invorderingswet 1990</I>) or Section&nbsp;60 of the Social Insurance Financing Act of the Netherlands (<I>Wet Financiering Sociale Verzekeringen</I>) in conjunction with Section&nbsp;36 of the Tax Collection Act of the Netherlands
(<I>Invorderingswet 1990</I>). A receiver, trustee, custodian, sequestrator, conservator or liquidator includes a <I>curator</I> and a <I>bewindvoerder</I>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.04 <U>Accounting Terms; IFRS</U>. Except as otherwise expressly provided herein, all terms of an accounting or financial nature
shall be construed in accordance with IFRS, as in effect from time to time; <U>provided</U>, <U>however</U>, that if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision (including any definitions)
hereof to eliminate the effect of any change occurring after the Closing Date in IFRS or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an
amendment to any provision hereof for such purpose), regardless of whether any such notice is given before or after such change in IFRS or in the application thereof, then such provision shall be interpreted on the basis of IFRS as in effect and
applied immediately before such change shall have become effective until such notice shall have been withdrawn or such provision amended in accordance herewith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.05 <U>Effectuation of Transactions</U>. All references herein to the Borrower and its Subsidiaries shall be deemed to be
references to such Persons, and all the representations and warranties of the Borrower and the other Loan Parties contained in this Agreement and the other Loan Documents shall be deemed made, in each case, after giving effect to the Transactions to
occur on the Closing Date, unless the context otherwise requires. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;1.06 <U>Currency Translation</U>. For purposes of
determining compliance with any Euro-denominated restriction or basket limitation under Section&nbsp;6.01, Section&nbsp;6.02, Section&nbsp;6.04 and Section&nbsp;6.06 (including any defined terms referenced and utilized in such covenants), as of any
time of determination, any such basket limitation shall be deemed to be the greater of (i)&nbsp;the applicable Euro-denominated amount set forth in this Agreement and (ii)&nbsp;the amount of Euro obtained by multiplying the applicable
Euro-denominated amount set forth in this Agreement by 1.3774 (which was the dollar-to-Euro Exchange Rate as of March&nbsp;31, 2014) and then multiplying the result by a number equal to the amount of Euros into which 1.00 U.S.&nbsp;Dollar may be
converted using the Exchange Rate in effect at the time of determination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, for purposes of determining compliance with any of
the covenants referred to in the paragraph above, utilized amounts under any such covenant or basket shall be tracked in Euro irrespective of what currency is actually used to make the incurrence. When an incurrence is made in a currency other than
Euro, the amount of Euro for purposes of the covenants shall be calculated based on the relevant currency Exchange Rate in effect on the date such incurrence was made; provided that if Indebtedness is Incurred to refinance other Indebtedness
denominated in a currency other than Euros, and such refinancing would cause the applicable Euro-denominated restriction to be exceeded if calculated at the relevant currency </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Exchange Rate in effect on the date of such refinancing, such Euro-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing
Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;II. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE CREDITS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.01
<U>Initial Commitments</U>. Subject to the terms and conditions set forth herein, each Lender agrees to make loans (the &#147;<U>Loans</U>&#148;) to the Borrower denominated in Euros from time to time during the Availability Period in an aggregate
principal amount, which will not result in such Lender&#146;s Exposure exceeding such Lender&#146;s Commitment or the aggregate Exposures of all Lenders exceeding the aggregate Commitments of all Lenders. Within the foregoing limits and subject to
the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Loans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.02 <U>Loans and
Borrowings</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Loan shall be made as part of a Borrowing by the Lenders ratably in accordance with their respective
Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder, <U>provided</U> that the Commitments of the Lenders are several and other than as expressly provided
herein with respect to a Defaulting Lender, no Lender shall be responsible for any other Lender&#146;s failure to make Loans as required hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) At the time each Borrowing is made and at the commencement of each Interest Period thereafter, (i)&nbsp;such Borrowing shall be in an
aggregate amount that is an integral multiple of the Borrowing Multiple and not less than the Borrowing Minimum; <U>provided</U> that a Borrowing that results from a continuation of an outstanding Borrowing may be in an aggregate amount that is
equal to such outstanding Borrowing and (ii)&nbsp;each Loan from each Lender shall be in an aggregate amount that is not less than &#128;100,000. No more than a total of five (5)&nbsp;Borrowings shall be outstanding at any time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.03 <U>Requests for Borrowings</U>. To request a Borrowing, the Borrower shall notify the Administrative Agent of such request
by telephone not later than 11:00&nbsp;a.m., New York City time, three Business Days before the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery, email of a
&#147;pdf&#148; or facsimile to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic and written Borrowing Request shall specify the following information: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the aggregate amount of such Borrowing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the date of such Borrowing, which shall be a Business Day; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the initial Interest Period to be applicable thereto, which shall be a period contemplated by the definition of the term
&#147;Interest Period&#148;; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the location and number of the Borrower&#146;s account to which funds are to
be disbursed; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) that as of the date of such Borrowing, the conditions set forth in Section&nbsp;4.02(a),
Section&nbsp;4.02(b) and, if applicable, Section&nbsp;4.02(c) and Section&nbsp;4.02(d) are satisfied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If no Interest Period is specified with respect to
any requested Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month&#146;s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise
each Lender of the details thereof and of the amount of such Lender&#146;s Loan to be made as part of the requested Borrowing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.04 <U>Funding of Borrowings.</U> (a)&nbsp;Each Lender shall make each Loan to be made by it hereunder on the proposed date
thereof by wire transfer of Same Day Funds by 6:00 a.m., New York City time, to the Applicable Account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such
Loans available to the Borrower by promptly crediting the amounts so received, in like funds, to an account designated by the Borrower in the applicable Borrowing Request </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date of any Borrowing that such Lender will
not make available to the Administrative Agent such Lender&#146;s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with paragraph&nbsp;(a) of this Section and may,
in reliance on such assumption and in its sole discretion, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the
applicable Lender agrees to pay to the Administrative Agent an amount equal to such share on demand of the Administrative Agent. If such Lender does not pay such corresponding amount forthwith upon demand of the Administrative Agent therefor, the
Administrative Agent shall promptly notify the Borrower, and the Borrower agrees to pay such corresponding amount to the Administrative Agent forthwith on demand. The Administrative Agent shall also be entitled to recover from such Lender or
Borrower interest on such corresponding amount, for each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i)&nbsp;in the case of such Lender, a rate
equal to the Overnight Rate, or (ii)&nbsp;in the case of the Borrower, the interest rate applicable to such Borrowing in accordance with Section&nbsp;2.10. If such Lender pays such amount to the Administrative Agent, then such amount shall
constitute such Lender&#146;s Loan included in such Borrowing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The obligations of the Lenders hereunder to make Loans and to make
payments pursuant to Section&nbsp;9.03(c) are several and not joint. The failure of any Lender to make any Loan or to make any payment under Section&nbsp;9.03(c) on any date required hereunder shall not relieve any other Lender of its corresponding
obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan or to make its payment under Section&nbsp;9.03(c). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.05 <U>Interest Elections.</U> (a)&nbsp;Each Borrowing shall have an initial
Interest Period as specified in the relevant Borrowing Request or designated by Section&nbsp;2.03. Thereafter, the Borrower may elect to continue such Borrowing and may elect Interest Periods therefor, all as provided in this Section. The Borrower
may elect different options with respect to different portions of the affected Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such
portion shall be considered a separate Borrowing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) To make an election pursuant to this Section, the Borrower shall notify the
Administrative Agent of such election by telephone by not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed continuation. Each such telephonic Interest Election Request shall be irrevocable and shall be
confirmed promptly by hand delivery, facsimile or other electronic transmission to the Administrative Agent of a written Interest Election Request signed by the Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Each telephonic and written Interest Election Request shall specify the following information in compliance with Section&nbsp;2.03: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Borrowing to which such Interest Election Request applies and, if different options are being elected with respect to
different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clause (iii)&nbsp;below shall be specified for each resulting Borrowing); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the effective date of the election made pursuant to such Interest Election Request, which shall be a Business Day; and
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Interest Period to be applicable thereto after giving effect to such election, which shall be a period
contemplated by the definition of the term &#147;Interest Period.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If any such Interest Election Request does not specify an Interest Period, then
the Borrower shall be deemed to have selected an Interest Period of one month&#146;s duration. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Promptly following receipt of an
Interest Election Request in accordance with this Section, the Administrative Agent shall advise each Lender of such Lender&#146;s portion of each resulting Borrowing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) If the Borrower fails to deliver a timely Interest Election Request prior to the end of the Interest Period applicable thereto, then,
unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be converted to a Borrowing with an Interest Period with a duration of one month. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.06 <U>Termination and Reduction of Commitments.</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Unless previously terminated, the Commitments shall terminate on the Maturity Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Borrower may at any time terminate in whole, or from time to time reduce in part, the
Commitments; provided that (i)&nbsp;each such partial reduction of the Commitments shall be in an amount that is an integral multiple of &#128;1,000,000 and not less than &#128;5,000,000 and (ii)&nbsp;the Borrower shall not terminate or reduce the
Commitments if, after giving effect to any concurrent prepayment of the Loans in accordance with Section&nbsp;2.08, the aggregate Exposure of all Lenders would exceed the aggregate Commitments of all Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b)&nbsp;of this
Section&nbsp;2.06 at least one Business Day prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any such notice, the Administrative Agent shall advise
the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this Section&nbsp;2.06 shall be irrevocable; provided that the Borrower may rescind any such notice of termination under this clause (c) if such termination would
have resulted from the refinancing in full of the Loans and/or termination in full of the Commitments, which refinancing shall not be consummated or shall otherwise be delayed; provided that the Borrower shall pay any amounts due to the Lenders
under Section&nbsp;2.13. Any termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be made ratably among the Lenders in accordance with their respective Commitments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.07 <U>Repayment of Loans; Evidence of Debt</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) To the extent not previously paid, the Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each
Lender the then unpaid principal amount of each Loan of such Lender on the Maturity Date; provided that if the Maturity Date is not a Business Day, such payment shall be due on the immediately preceding Business Day. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each Lender shall maintain in accordance with its usual practice an account or accounts evidencing the indebtedness of the Borrower to
such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Administrative Agent shall maintain the Register in accordance with Section&nbsp;9.04. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The entries made in the accounts and Register maintained pursuant to paragraph&nbsp;(b) or (c) of this Section shall be <U>prima</U>
<U>facie</U> evidence of the existence and amounts of the obligations recorded therein absent manifest error, <U>provided</U> that the failure of any Lender or the Administrative Agent to maintain such accounts or such Register or any error therein
shall not in any manner affect the obligation of the Borrower to pay any amounts due hereunder in accordance with the terms of this Agreement. In the event of any inconsistency between the entries made pursuant to paragraphs&nbsp;(b) and (c) of this
Section, the Register maintained by the Administrative Agent pursuant to paragraph&nbsp;(c) of this Section shall control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Any Lender
may request through the Administrative Agent that Loans made by it be evidenced by a promissory note. In such event, the Borrower shall execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to
such Lender and its registered assigns) and in the form attached hereto as Exhibit&nbsp;C. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.08 <U>Prepayment of Loans</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, subject to the
requirements of this Section, without penalty or premium provided that each partial prepayment shall be in an amount that is an integral multiple of &#128;1,000,000 and not less than &#128;5,000,000; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Borrower shall notify the Administrative Agent by telephone (confirmed by facsimile) of any prepayment hereunder not later than
11:00&nbsp;a.m., New York City time, three Business Days before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and principal amount of each Borrowing or portion thereof to be prepaid;
<U>provided</U> that the Borrower may rescind any notice of optional prepayment under this Section&nbsp;2.08(b) if such prepayment would have resulted from the refinancing of all of the Loans, which refinancing shall not be consummated or shall
otherwise be delayed; <U>provided</U> that the Borrower shall pay any amounts due to the Lenders under Section&nbsp;2.13. Promptly following receipt of any such notice, the Administrative Agent shall advise the Lenders of the contents thereof. Each
prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by Section&nbsp;2.10. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.09 <U>Fees</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower agrees to pay to the Lenders: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) commitment fees equal to (1)&nbsp;the average of the daily difference between (A)&nbsp;the Commitments and (B)&nbsp;the
aggregate principal amount of all outstanding Loans, times (2)&nbsp;1.00%&nbsp;per annum; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) utilization fees equal
to (1)&nbsp;(a)&nbsp;if the daily average aggregate principal amount of all outstanding Loans (such daily average amount, the &#147;Drawn Amount&#148;) is less than 50% of the Commitments, 0.25%&nbsp;per annum or (b)&nbsp;if the Drawn Amount is
greater than or equal to 50% of the Commitments, 0.50%&nbsp;per annum, times (2)&nbsp;the Drawn Amount. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) All fees referred to in
paragraph (a)&nbsp;above shall be (i)&nbsp;calculated on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) and (ii)&nbsp;paid to the Administrative Agent quarterly in arrears on
the last Business Day of March, June, September and December of each year during the Availability Period, commencing on the first such date to occur after the Closing Date, and on the Maturity Date, and, upon receipt, the Administrative Agent shall
promptly distribute to each Lender its pro rata share thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Borrower agrees to pay to the Administrative Agent, for its own
account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Borrower agrees to pay on the Closing Date to each Lender party to this Agreement as a
Lender on the Closing Date, as fee compensation for such Lender&#146;s Initial Commitment, a closing fee in an amount equal to 1.50% of the stated principal amount of such Lender&#146;s Initial Commitment on the Closing Date, payable to such Lender
on the Closing Date. Such closing fee will be in all respects fully earned, due and payable on the Closing Date and non-refundable and non-creditable thereafter. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Notwithstanding the foregoing, and subject to Section&nbsp;2.18, the Borrower shall not be obligated to pay any amounts to any Defaulting
Lender pursuant to this Section&nbsp;2.09, nor shall any such amounts accrue. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.10 <U>Interest</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Loans comprising each Borrowing shall bear interest at the Adjusted Eurocurrency Rate for the Interest Period in effect for such
Borrowing plus 2.50%. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or other amount payable
by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal to 2.00%&nbsp;per annum <U>plus</U> the
rate otherwise applicable to Loans as provided in paragraph (a)&nbsp;above; <U>provided</U> that no amount shall be payable pursuant to this Section&nbsp;2.10(b) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender;
<U>provided</U> <U>further</U> that no amounts shall accrue pursuant to this Section&nbsp;2.10(b) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and upon termination of the
Commitments, <U>provided</U> that (i)&nbsp;interest accrued pursuant to paragraph&nbsp;(b) above shall be payable on demand and (ii)&nbsp;in the event of any repayment or prepayment of any Loan, accrued interest on the principal amount repaid or
prepaid shall be payable on the date of such repayment or prepayment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) All interest hereunder shall be computed on the basis of a year
of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The Adjusted Eurocurrency Rate shall be determined by the Administrative Agent and such determination shall be conclusive
absent manifest error. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) If a tax deduction is required by Swiss law to be made by a Loan Party incorporated in Switzerland (the
&#147;Swiss Loan Party&#148;) in respect of any interest payable by it under this Agreement and should paragraph (a)&nbsp;of Section 2.14 be unenforceable for any reason, the applicable interest rate in relation to that interest payment shall be
(i)&nbsp;the interest rate which would have applied to that interest payment (as provided for in this Section&nbsp;2.10) in the absence of this paragraph (e)&nbsp;divided by (ii)&nbsp;1 minus the rate at which the relevant tax deduction is required
to be made (where the rate at which the relevant tax deduction is required to be made is for this purpose expressed as a fraction of 1 rather than as a percentage) and (a)&nbsp;that the Swiss Loan Party shall be obliged to pay the relevant interest
at the adjusted rate in accordance with this paragraph (e)&nbsp;and (b)&nbsp;all references to a rate of interest in Section 2.14 shall be construed accordingly. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.11 <U>Alternate Rate of Interest</U>. If at least two Business Days prior to the
commencement of any Interest Period for a Borrowing: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Administrative Agent determines (which determination shall be conclusive
absent manifest error) that adequate and reasonable means do not exist for ascertaining the Adjusted Eurocurrency Rate for such Interest Period; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Administrative Agent is advised by the Required Lenders that the Adjusted Eurocurrency Rate for such Interest Period will not
adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period, the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telephone or
facsimile as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, with respect to any outstanding Loans, if the Administrative
Agent or the Borrower so require, the Administrative Agent and the Borrower will negotiate in good faith for a period of not more than 30 days in order to agree on a mutually acceptable substitute basis for calculating the interest payable on the
Loans and, (x)&nbsp;if a substitute basis is agreed within that period between the Administrative Agent (with the consent of the Lenders holding such Loans) and the Borrower, then it shall apply in accordance with its terms (and may be retrospective
to the beginning of the relevant Interest Period or to any time thereafter to the extent agreed by the Borrower and the Administrative Agent) and (y)&nbsp;unless and until a substitute basis is so agreed, the Interest Rate payable to such Lenders on
the applicable Loans for the relevant Interest Period will be the rate reasonably determined by the applicable Lender and notified to the Administrative Agent by that Lender to be its cost of funds (from any source which it may reasonably select)
plus 2.50%. Each determination by the Administrative Agent under this Section&nbsp;2.11 shall be conclusive absent manifest error. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.12 <U>Increased Costs</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If any Change in Law shall: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted Eurocurrency Rate); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) subject any Lender to any Tax with respect to this Agreement or Loan made by such Lender (other than Indemnified Taxes or
Other Taxes covered by Section&nbsp;2.14, and any Excluded Taxes); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) impose on any Lender or the London interbank
market any other condition, cost or expense affecting this Agreement or Loans made by such Lender or participation therein; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any
Loan (or of maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise), then, from time to time upon request of such Lender, the
Borrower will pay to such Lender such additional amount or amounts as will compensate such Lender for such increased costs actually incurred or reduction actually suffered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If any Lender determines that any Change in Law regarding capital requirements has the effect of reducing the rate of return on such
Lender&#146;s capital or on the capital of such Lender&#146;s holding company, if any, as a consequence of this Agreement or the Loans made by such Lender, to a level below that which such Lender or such Lender&#146;s holding company could have
achieved but for such Change in Law (taking into consideration such Lender&#146;s policies and the policies of such Lender&#146;s holding company with respect to capital adequacy), then, from time to time upon request of such Lender, the Borrower
will pay to such Lender, such additional amount or amounts as will compensate such Lender or such Lender&#146;s holding company for any such reduction actually suffered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) A certificate of a Lender setting forth the amount or amounts necessary to compensate such Lender or its holding company in reasonable
detail, as the case may be, as specified in paragraph&nbsp;(a) or (b) of this Section delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within
15&nbsp;days after receipt thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Failure or delay on the part of any Lender to demand compensation pursuant to this Section shall
not constitute a waiver of such Lender&#146;s right to demand such compensation, <U>provided</U> that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs incurred or reductions suffered more
than 180 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender&#146;s intention to claim compensation therefor; <U>provided</U> <U>further</U> that, if
the Change in Law giving rise to such increased costs or reductions is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.13 <U>Break Funding Payments</U>. In the event of (a)&nbsp;the payment of any principal of any Loan other than on the last day
of an Interest Period applicable thereto (including as a result of an Event of Default), and other than pursuant to Section&nbsp;2.17(d) (b)&nbsp;the assignment of any Loan other than on the last day of the Interest Period applicable thereto as a
result of a request by the Borrower pursuant to Section&nbsp;2.16 or Section&nbsp;9.02(c) or (c)&nbsp;the failure to borrow, convert, continue or prepay any Loan on the date specified in any notice delivered pursuant hereto (regardless of whether
such notice may be revoked under Section&nbsp;2.08(b) and is revoked in accordance therewith), then, in any such event, the Borrower shall, after receipt of a written request by any Lender affected by any such event (which request shall set forth in
reasonable detail the basis for requesting such amount), compensate each Lender for the loss, cost and expense attributable to such event. For purposes of calculating amounts payable by the Borrower to the Lenders under this Section&nbsp;2.13, each
Lender shall be deemed to have funded each Loan made by it at the Adjusted Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the applicable interbank Euro market for a comparable amount and for a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
comparable period, whether or not such Loan was in fact so funded. A certificate of any Lender setting forth any amount or amounts that such Lender is entitled to receive pursuant to this Section
delivered to the Borrower shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 15 days after receipt of such demand. Notwithstanding the foregoing, this
Section&nbsp;2.13 will not apply to losses, costs or expenses resulting from Taxes, as to which Section&nbsp;2.14 shall govern. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.14 <U>Taxes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Unless required by applicable Requirements of Law, any and all payments by or on account of any obligation of any Loan Party under any
Loan Document shall be made without deduction for any Taxes, <U>provided</U> that if the applicable withholding agent shall be required by applicable Requirements of Law to deduct any Indemnified Taxes or Other Taxes (other than Assignment Taxes)
from such payments, then (i)&nbsp;the amount payable by the applicable Loan Party shall be increased as necessary so that after all such required deductions have been made (including deductions of Indemnified Taxes or Other Taxes (other than
Assignment Taxes) applicable to additional amounts payable under this Section), the Administrative Agent or such Lender (as the case may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii)&nbsp;the
applicable withholding agent shall make such deductions and (iii)&nbsp;the applicable withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable Requirements of Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Without limiting the provisions of paragraph&nbsp;(a) above, the Borrower shall timely pay any Other Taxes (other than Assignment Taxes)
to the relevant Governmental Authority in accordance with Requirements of Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Borrower shall indemnify the Administrative Agent
and each Lender, within 30 days after written demand therefor, for the full amount of any such Indemnified Taxes paid by the Administrative Agent or such Lender, on or with respect to any payment by or on account of any obligation of any Loan Party
under any Loan Document and any such Other Taxes (including Indemnified Taxes or Other Taxes (other than Assignment Taxes) imposed or asserted on or attributable to amounts payable under this Section but not including any Assignment Taxes) and any
reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate setting forth in reasonable
detail the basis and calculation of the amount of such payment or liability shall be delivered to the Borrower by a Lender or by the Administrative Agent on its own behalf or on behalf of a Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by a Loan Party to a Governmental Authority, the Borrower
shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) (i) Each Lender shall, at such times as are reasonably requested by any Loan Party or the
Administrative Agent or prescribed by applicable Requirements of Law, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
provide the Loan Party and the Administrative Agent with any properly completed and executed documentation prescribed by Requirements of Law, or reasonably requested by the Loan Party or the
Administrative Agent, certifying as to any entitlement of such Lender to an exemption from, or reduction in, any withholding Tax with respect to any payments to be made to such Lender under the Loan Documents. Each such Lender shall, whenever a
lapse in time or change in circumstances renders such documentation expired, obsolete or inaccurate, deliver promptly to the Borrower and the Administrative Agent updated or other appropriate documentation (including any new documentation reasonably
requested by the applicable withholding agent) or promptly notify the Borrower and the Administrative Agent of its legal ineligibility to do so. Each Lender and the relevant withholding agent shall reasonably cooperate to submit any required
documentation in a timely manner in accordance with the applicable Requirements of Law. Unless the applicable withholding agent has received forms or other documents satisfactory to it indicating that payments under any Loan Document to or for a
Lender are not subject to withholding tax or are subject to such Tax at a rate reduced by an applicable tax treaty, the Loan Party, Administrative Agent or other applicable withholding agent shall withhold amounts required to be withheld by
applicable Requirements of Law from such payments at the applicable statutory rate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) If a payment made to a Lender under any Loan
Document would be subject to U.S. Federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section&nbsp;1471(b) or 1472(b) of the Code, as
applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by
applicable law (including as prescribed by Section&nbsp;1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative
Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender&#146;s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause
(e)(ii), &#147;FATCA&#148; shall include any amendments made to FATCA after the date of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) Notwithstanding any other
provision of this clause&nbsp;(e), a Lender shall not be required to deliver any form that such Lender is not legally eligible to deliver. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) If the Borrower determines in good faith that a reasonable basis exists for contesting any Taxes for which indemnification has been
demanded hereunder, the Administrative Agent and the relevant Lender, as applicable, shall cooperate with the Borrower in a reasonable challenge of such Taxes if so requested by the Borrower, <U>provided</U> that (a)&nbsp;the Administrative Agent or
such Lender determines in its reasonable discretion that it would not be prejudiced by cooperating in such challenge, (b)&nbsp;the Borrower pays all related expenses of the Administrative Agent and such Lender, as applicable, and (c)&nbsp;the
Borrower indemnifies the Administrative Agent and such Lender, as applicable, for any liabilities or other costs incurred by such party in connection with such challenge. The Administrative Agent or a Lender shall claim any refund that it determines
is reasonably available to it, unless it concludes in its reasonable discretion that it would be adversely affected by making such a claim. If the Administrative Agent or a Lender determines, in its reasonable discretion, that it has received a
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
refund (including, for purposes of this clause&nbsp;(f), any credit in lieu of a refund) of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Loan Party or with
respect to which the Loan Party has paid additional amounts pursuant to this Section, it shall pay over an amount equal to such refund to the Loan Party (but only to the extent of indemnity payments made, or additional amounts paid, by the Loan
Party under this Section with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of the Administrative Agent or such Lender and without interest (other than any interest
paid by the relevant Governmental Authority with respect to such refund), <U>provided</U> that the Loan Party, upon the request of the Administrative Agent or such Lender, agrees promptly to repay the amount paid over to the Loan Party (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund (or credit in lieu of such refund)
to such Governmental Authority. The Administrative Agent or such Lender, as the case may be, shall, at the Loan Party&#146;s request, provide the Loan Party with a copy of any notice of assessment or other evidence of the requirement to repay such
refund or credit received from the relevant taxing authority (<U>provided</U> that the Administrative Agent or such Lender may delete any information therein that the Administrative Agent or such Lender deems confidential). Notwithstanding anything
to the contrary, this clause&nbsp;(f) shall not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to taxes which it deems confidential). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) The agreements in this Section&nbsp;2.14 shall survive the termination of this Agreement and the payment of the Loans and all other
amounts payable hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Indirect Tax</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) All amounts set out or expressed to be payable under a Loan Document by any party to this Agreement (as referred to in this
clause&nbsp;(h), a &#147;<U>Party</U>&#148;) to the Administrative Agent or any Lender which (in whole or in part) constitute the consideration for a supply or supplies for Indirect Tax purposes shall be deemed to be exclusive of any Indirect Tax
which is chargeable on such supply or supplies, and accordingly, subject to (ii)&nbsp;below, if Indirect Tax is or becomes chargeable on any supply made by any of the Administrative Agent or any Lender to any Party under a Loan Document, that Party
shall pay to the Administrative Agent or relevant Lender, as applicable (in addition to and at the same time as paying any other consideration for such supply) an amount equal to the amount of such Indirect Tax (and such Administrative Agent or
Lender, as applicable, shall promptly provide an appropriate invoice to such Party), or where applicable, directly account for such Indirect Tax at the appropriate rate under the reverse charge procedure in accordance with the Council Directive
2006/112/EC on the common system of value added tax, and any applicable Indirect Tax provisions of the jurisdiction in which such Party receives such supply. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) If Indirect Tax is or becomes chargeable on any supply made by any of the Administrative Agent or any Lender (the
&#147;<U>Supplier&#148;</U>) to any of the Administrative Agent or another Lender (the &#147;<U>Recipient</U>&#148;) under a Loan Document, and any Party other than the Recipient (the &#147;<U>Subject Party</U>&#148;) is required by the terms of any
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Loan Document to pay an amount equal to consideration for such supply to the Supplier (rather than being required to reimburse the Recipient in respect of that consideration): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) where the Supplier is the person required to account to the relevant Governmental Authority for the Indirect Tax, such
Party shall also pay to the Supplier (in addition to and at the same time as paying such amount) an amount equal to the amount of such Indirect Tax. The Recipient will promptly pay to the Subject Party an amount equal to any credit or repayment
obtained by the Recipient from the relevant Governmental Authority which the Recipient reasonably determines is in respect of such Indirect Tax; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) where the Recipient is the person required to account to the relevant Governmental Authority for the Indirect Tax, the
Subject Party must promptly, following demand from the Recipient, pay to the Recipient an amount equal to the Indirect Tax chargeable on that supply but only to the extent that the Recipient reasonably determines that it is not entitled to credit or
repayment from the relevant Governmental Authority in respect of such Indirect Tax. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Where a Loan Document requires
any Party to reimburse or indemnify any of the Administrative Agent or any Lender for any cost or expense, that Party shall reimburse or indemnify (as the case may be) such Administrative Agent or Lender, as applicable, for the full amount of such
cost or expense, including such part thereof as represents Indirect Tax, save to the extent that such Administrative Agent or Lender reasonably determines that it is entitled to credit or repayment in respect of such Indirect Tax from the relevant
Governmental Authority. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any reference in this subsection&nbsp;(h) to any Party shall, at any time when such Party is
treated as a member of a group for Indirect Tax purposes, include (where appropriate and unless the context otherwise requires) a reference to (i)&nbsp;such group at such time or (ii)&nbsp;the person who is treated as making the supply or (as
appropriate) receiving the supply under the grouping rules as provided for in Article 11 of Council Directive 2006/112/EC on the common system of value added tax (as amended), or any succeeding legislation thereto or any corresponding legislation in
any other Member State or jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.15 <U>Payments Generally; Pro Rata Treatment; Sharing of Setoffs</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower shall make each payment required to be made by it under any Loan Document (whether of principal, interest, fees, or of
amounts payable under Section&nbsp;2.12, Section&nbsp;2.13 or Section&nbsp;2.14, or otherwise) at or prior to the time expressly required hereunder or under such other Loan Document for such payment (or, if no such time is expressly required, prior
to 9:00 a.m., New York City time), on the date when due, in Same Day Funds, without condition or deduction for any counterclaim, recoupment or setoff. Any amounts received after such time on any date may, in the discretion of the Administrative
Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to such account as may be specified by the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Administrative Agent, except that payments pursuant to Section&nbsp;2.12, Section&nbsp;2.13, Section&nbsp;2.14 and 9.03 shall be made directly to the Persons entitled thereto and payments
pursuant to other Loan Documents shall be made to the Persons specified therein. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt
thereof. Except as expressly provided herein, if any payment on a Loan becomes due and payable on a day other than a Business Day, the maturity thereof shall be extended to the next succeeding Business Day unless the result of such extension would
be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day. In the case of any payment of principal pursuant to the preceding sentence, interest thereon shall be payable
at the then applicable rate for the period of such extension. All payments or prepayments of any Loan and all payments under each Loan Document shall be made in Euros, except as otherwise expressly provided herein </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal,
interest and fees then due hereunder, such funds shall be applied </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>first</U>, towards payment of interest and fees
then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest and fees then due to such parties, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>second</U>, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance
with the amounts then due to such parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) If any Lender shall, by exercising any right of setoff or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon than the proportion received by any other
Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in
accordance with the aggregate amount of principal of and accrued interest on their respective Loans; <U>provided</U> that (i)&nbsp;if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such
participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest and (ii)&nbsp;the provisions of this paragraph shall not be construed to apply to (A)&nbsp;any payment made by the Borrower pursuant
to and in accordance with the express terms of this Agreement (including the application of funds arising from the existence of a Defaulting Lender and as contemplated by Section&nbsp;2.08(a)) or (B)&nbsp;any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant. The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender
acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower in the amount
of such participation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Unless the Administrative Agent shall have received notice from the Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption and in its sole discretion, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agree to repay
to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative
Agent, at a rate equal to the Overnight Rate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.16 <U>Mitigation Obligations; Replacement of Lenders</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If (i)&nbsp;any Lender requests compensation under Section&nbsp;2.12 or (ii)&nbsp;the Borrower is required to pay any additional amount to
any Lender or any Governmental Authority for the account of any Lender pursuant to Section&nbsp;2.14 or any event give rise to the operation of Section&nbsp;2.19, then such Lender or, where relevant, the Administrative Agent, shall use reasonable
efforts (and at the expense of the Borrower) to designate a different Lending Office for funding or booking its Loans hereunder, to assign and delegate its rights and obligations hereunder to another of its offices, branches or Affiliates, or to
change its bank account, if, in the judgment of such Lender or, where relevant, the Administrative Agent, such designation or assignment and delegation or change (i)&nbsp;would eliminate or reduce amounts payable pursuant to Section&nbsp;2.12 or
Section&nbsp;2.14 or mitigate the applicability of Section&nbsp;2.19, as the case may be, and (ii)&nbsp;would not subject such Lender or Administrative Agent to any unreimbursed cost or expense reasonably deemed by such Lender or Administrative
Agent to be material and would not be disadvantageous in any material economic, legal or regulatory respect to such Lender or Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If (i)&nbsp;any Lender requests compensation under Section&nbsp;2.12 or gives notice under Section&nbsp;2.19 or (ii)&nbsp;the Borrower is
required to pay any additional amount to any Lender or to any Governmental Authority for the account of any Lender pursuant to Section&nbsp;2.14, or (iii)&nbsp;any Lender is a Defaulting Lender, then the Borrower may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate at par, without recourse (in accordance with and subject to the restrictions contained in Section&nbsp;9.04), all its interests, rights and
obligations under this Agreement and the other Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment and delegation); <U>provided</U> that (A)&nbsp;the
Borrower shall have received the prior written consent of the Administrative Agent to the extent such consent would be required under Section&nbsp;9.04(b) for an assignment of Loans or Commitments, as applicable, which consents, in each case, shall
not unreasonably be withheld or delayed, (B)&nbsp;such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued but unpaid interest thereon, accrued but unpaid fees and all other amounts payable to it
hereunder from the assignee (to the extent of such outstanding principal and accrued interest and fees) or such Borrower (in the case of all other amounts), (C)&nbsp;the Borrower or such assignee shall have paid (unless waived) to the Administrative
Agent the processing and recordation fee specified in Section&nbsp;9.04(b)(ii) and (D)&nbsp;in the case of any such assignment resulting from a claim for compensation under Section&nbsp;2.12, or payments required to
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
be made pursuant to Section&nbsp;2.14 or a notice given under Section&nbsp;2.19, such assignment will result in a material reduction in such compensation or payments. A Lender shall not be
required to make any such assignment and delegation if, prior thereto, as a result of a waiver by such Lender or otherwise (including as a result of any action taken by such Lender under paragraph&nbsp;(a) above), the circumstances entitling the
Borrower to require such assignment and delegation cease to apply. Each party hereto agrees that an assignment required pursuant to this paragraph may be effected pursuant to an Assignment and Assumption executed by the Borrower, the Administrative
Agent and the assignee and that the Lender required to make such assignment need not be a party thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) A Lender shall not be
entitled to any compensation pursuant to the foregoing paragraphs to the extent such Lender is not imposing such charges or requesting such compensation from borrowers similarly situated to the Borrower hereunder under comparable syndicated credit
facilities (as reasonably determined by the Administrative Agent and the applicable Lender). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.17 <U>Incremental Credit
Increase</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) At any time and from time to time after the Closing Date, subject to the terms and conditions set forth herein, the
Borrower may, by notice to the Administrative Agent (whereupon the Administrative Agent shall promptly make available to each of the Lenders), request to effect one or more increases in the aggregate amount of Commitments (each such increase, a
&#147;<U>Commitment Increase</U>&#148;), in each case, from one or more existing Lenders or Additional Lenders; <U>provided</U> that at the time of each such request and upon the effectiveness of each Incremental Facility Amendment, (A)&nbsp;no
Default or Event of Default shall have occurred and be continuing or shall result therefrom, (B)&nbsp;the Borrower shall have delivered a certificate of a Financial Officer to the effect set forth in clause&nbsp;(A) above and (C)&nbsp;each
Commitment Increase shall be on the same terms (including interest rate margins and maturity) then governing the Initial Commitments pursuant to this Agreement. Notwithstanding anything to contrary herein, at the time of effectiveness of any given
Commitment Increase, the aggregate principal amount of the Commitment Increases entered into after the Closing Date shall not exceed &#128;30,000,000 (the &#147;<U>Incremental Cap</U>&#148;). Each Commitment Increase shall be in a minimum principal
amount of &#128;5,000,000 and integral multiples of &#128;1,000,000 in excess thereof; <U>provided</U> that such amount may be less than &#128;5,000,000 if such amount represents all the remaining availability under the Incremental Cap. For the
avoidance of doubt, (i)&nbsp;no Lender shall be required to provide, or obligated to consent (acting in its sole and absolute discretion) to, any such Commitment Increase and (ii)&nbsp;the non response by a Lender to any Commitment Increase request
shall be deemed to be a rejection of that request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each notice from the Borrower pursuant to this Section shall set forth the
requested amount of the relevant Commitment Increase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) A Lender&#146;s Commitment Increase shall become effective under this Agreement
pursuant to an amendment (an &#147;<U>Incremental Facility Amendment</U>&#148;) to this Agreement and, as appropriate, the other Loan Documents, executed by the Borrower, such existing Lender or Additional Lender, as applicable, and the
Administrative Agent. Commitment Increases may be provided, subject to the prior written consent of the Borrower (such consent not to be </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
unreasonably withheld), by any existing Lender (it being understood that no existing Lender shall have the right to participate in any Commitment Increase or, unless it agrees, be obligated to
provide any Commitment Increase) or by any Additional Lender. An Incremental Facility Amendment may, without the consent of any other Lenders, effect such amendments to any Loan Documents as may be necessary or appropriate, in the reasonable opinion
of the Administrative Agent, to effect the provisions of this Section. The effectiveness of any Incremental Facility Amendment shall, unless otherwise agreed to by the Administrative Agent and the Additional Lenders, be subject to the satisfaction
on the date thereof (each, an &#147;<U>Incremental Facility Closing Date</U>&#148;) of each of the conditions set forth in Section&nbsp;4.02 (it being understood that all references to &#147;the date of such Borrowing&#148; in Section&nbsp;4.02
shall be deemed to refer to the Incremental Facility Closing Date) and, to the extent reasonably requested by the Administrative Agent be accompanied by legal opinions, board resolutions, officers&#146; certificates and/or reaffirmation agreements
consistent with those delivered on the Closing Date (other than changes to such legal opinions resulting from a change in law, change in fact or change to counsel&#146;s form of opinion reasonably satisfactory to the Administrative Agent). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Upon each increase in the Commitments pursuant to this Section&nbsp;2.17, if on the date of such increase, there are any Loans
outstanding, such Loans shall on or prior to the effectiveness of such Commitment Increase be prepaid from the proceeds of additional Loans made hereunder (reflecting such increase in Commitments), which prepayment shall be accompanied by accrued
interest on the Loans being prepared (but which, notwithstanding anything herein to the contrary, will not require the Borrower to pay any costs pursuant to Section&nbsp;2.13). The Administrative Agent and the Lenders hereby agree that the minimum
borrowing, pro rata borrowing and pro rata payment requirements contained elsewhere in this Agreement shall not apply to the transactions effected pursuant to the immediately preceding sentence. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) This Section&nbsp;2.17 shall supersede any provisions in Section&nbsp;2.15 or Section&nbsp;9.02 to the contrary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.18 <U>Defaulting Lenders</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Adjustments</U>. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then,
until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Waivers
and Amendments</U>. Such Defaulting Lender&#146;s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section&nbsp;9.02. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Reallocation of Payments</U>. Any amount paid by the Borrower or otherwise received by the Administrative Agent for the
account of a Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity payments or other amounts) will not be paid or distributed to such Defaulting Lender, but will instead be retained by the Administrative
Agent in a segregated non-interest bearing account until (subject to Section&nbsp;2.16(b)) the termination of the Commitments and payment in full of all obligations of the Borrower hereunder and will be applied by
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
the Administrative Agent, to the fullest extent permitted by law, to the making of payments from time to time in the following order of priority: <U>first</U> to the payment of any amounts owing
by such Defaulting Lender to the Administrative Agent under this Agreement, <U>second</U> to the payment of post-default interest and then-current interest due and payable to the Lenders hereunder other than Defaulting Lenders, ratably among them in
accordance with the amounts of such interest then due and payable to them, <U>third</U> to the payment of fees then due and payable to the Non-Defaulting Lenders hereunder, ratably among them in accordance with the amounts of such fees then due and
payable to them, <U>fourth</U> to the ratable payment of other amounts then due and payable to the Non-Defaulting Lenders and <U>fifth</U> after the payment in full of all obligations of the Borrower hereunder, to pay amounts owing under this
Agreement to such Defaulting Lender or as a court of competent jurisdiction may otherwise direct. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender
shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Defaulting Lender
Cure</U>. If the Borrower and the Administrative Agent agree in writing in their sole discretion that a Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the
effective date specified in such notice and subject to any conditions set forth therein, such Lender will, to the extent applicable, purchase that portion of outstanding Loans of the other Lenders or take such other actions as the Administrative
Agent may determine to be necessary to cause the Loans to be held on a <U>pro</U> <U>rata</U> basis by the Lenders in accordance with their Applicable Percentages, whereupon that Lender will cease to be a Defaulting Lender; <U>provided</U> that no
adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while that Lender was a Defaulting Lender; and <U>provided</U>, <U>further</U>, that except to the extent otherwise expressly agreed
by the affected parties, no change hereunder from Defaulting Lender to Non-Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender&#146;s having been a Defaulting Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;2.19 <U>Illegality</U>. If any Lender determines that any law has made it unlawful, or that any Governmental Authority has
asserted that it is unlawful, for any Lender to make, maintain or fund Loans hereunder, or to determine or charge interest rates on Loans based upon the Adjusted Eurocurrency Rate, then, on notice thereof by such Lender to the Borrower through the
Administrative Agent, any obligation of such Lender to make or continue Loans shall be suspended until such time the Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist.
Upon receipt of such notice, the Borrower shall, upon three Business Days&#146; notice from such Lender (with a copy to the Administrative Agent), prepay the Loans of such Lender, either on the last day of the Interest Period therefor, if such
Lender may lawfully continue to maintain such Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Loans. Each Lender agrees to notify the Administrative Agent and the Borrower in writing promptly upon
becoming aware that it is no longer illegal for such Lender to determine or charge interest rates based upon the Adjusted Eurocurrency Rate. Upon any such prepayment, the Borrower shall also pay accrued interest on the amount so prepaid or
converted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;III. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REPRESENTATIONS AND WARRANTIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Borrower represents and warrants to the Lenders for itself and the Loan Parties that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.01 <U>Organization; Powers</U>. The Borrower and each of the Loan Parties (a)&nbsp;is a limited liability company, unlimited
liability company, corporation or partnership (or any foreign equivalent of the foregoing) duly organized, validly existing and in good standing (or, if applicable in a foreign jurisdiction, enjoys the equivalent status under the laws of any
jurisdiction of organization or formation outside the United States) under the laws of the jurisdiction of its organization or formation, (b)&nbsp;has all requisite power and authority to own its property and assets necessary for the conduct of
business, except as would not reasonably be expected to have a Material Adverse Effect, (c)&nbsp;is qualified to do business in each jurisdiction where such qualification is required, except where the failure so to qualify could not reasonably be
expected to have a Material Adverse Effect, and (d)&nbsp;has the power and authority to execute, deliver and perform its obligations under each of the Loan Documents to which it is or will be a party and, in the case of the Borrower, to borrow and
otherwise obtain credit hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.02 <U>Authorization</U>. The execution, delivery and performance by each Loan Party of
each of the Loan Documents to which it is a party, the Borrowings hereunder and the use of proceeds thereof (a)&nbsp;have been (or in the case of the use of proceeds will be) duly authorized by all corporate or limited liability company or
partnership action required to be obtained by the Loan Parties and (b)&nbsp;will not (i)&nbsp;(A)&nbsp;violate any provision of law, statute, rule or regulation, or of the Organizational Documents of any Loan Party, (B)&nbsp;violate any applicable
order of any court or any rule, regulation or order of any Governmental Authority or (C)&nbsp;violate, be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of
or result in any cancellation or acceleration of any right or obligation (including any payment) or to a loss of a material benefit under any indenture, certificate of designation for preferred stock, agreement or any other instrument to which any
Loan Party is a party or by which any of them or their property is or may be bound, where any such conflict, violation, breach or default referred to in this clause&nbsp;(i) could reasonably be expected to have, individually or in the aggregate, a
Material Adverse Effect, or (ii)&nbsp;result in the creation or imposition of any Lien upon or with respect to any property or assets now owned or hereafter acquired by any Loan Party, other than Liens permitted by Section&nbsp;6.06 and Liens which
would not reasonably be expected to result in a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.03 <U>Enforceability</U>. Each Loan Document when
executed and delivered by each Loan Party that is party thereto will constitute, a legal, valid and binding obligation of such Loan Party enforceable against each such Loan Party in accordance with its terms, subject to (i)&nbsp;the effects of
bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance or other similar laws affecting creditors&#146; rights generally, (ii)&nbsp;general principles of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law) and (iii)&nbsp;implied covenants of good faith and fair dealing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.04 <U>Governmental Approvals</U>. No action, consent or approval of, registration
or filing with or any other action by any Governmental Authority is or will be required in connection with the Transactions, except for (a)&nbsp;such as have been made or obtained and are in full force and effect, (b)&nbsp;such other actions,
consents, approvals, registrations or filings with respect to which the failure to be obtained or made could not reasonably be expected to have a Material Adverse Effect and (c)&nbsp;filings and other actions listed on Schedule&nbsp;3.04. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.05 <U>Financial Statements</U>. The Borrower has heretofore furnished to the Administrative Agent (for delivery to the Lenders)
the audited consolidated balance sheets and related statements of income and cash flows of the Borrower and its subsidiaries for the Fiscal Years ended December&nbsp;31, 2011,&nbsp;December&nbsp;31, 2012 and December&nbsp;31, 2013, each of which
have been prepared in accordance with IFRS applied consistently throughout the periods involved, and present fairly the financial condition and results of operations of the Borrower and its subsidiaries, as of and on such dates set forth on such
financial statements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.06 <U>No Material Adverse Effect</U>. Since December&nbsp;31, 2013, there have been no events,
developments or circumstances that have had or could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.07 <U>Title to Properties; Possession Under Leases</U>. The Borrower and each of the Subsidiary Loan Parties has good and valid
record fee simple title to (or foreign equivalent) or valid leasehold interests in, or easements or other limited property interests in, all its properties and assets, except for minor defects in title that do not interfere with its ability to
conduct its business as currently conducted or to utilize such properties and assets for their intended purposes and except where the failure to have such title, interests or easements could not reasonably be expected to have, individually or in the
aggregate, a Material Adverse Effect. All such properties and assets held in fee simple are free and clear of Liens, other than Liens expressly permitted by Section&nbsp;6.06 and Liens which would not reasonably be expected to result in a Material
Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.08 <U>Subsidiaries</U>. As of the Closing Date, all of the issued and outstanding Equity Interests of each
Restricted Subsidiary of the Borrower is owned directly by the Borrower or by another Restricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.09
<U>Litigation; Compliance with Laws and Agreements</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) There are no actions, suits or proceedings at law or in equity or in
arbitration or, to the knowledge of the Borrower, investigations by or on behalf of any Governmental Authority now pending, or, to the knowledge of the Borrower, threatened in writing against or affecting the Borrower or any of its Subsidiaries or
any business, property or rights of any such Person (i)&nbsp;that involve any Loan Document or the Transactions or (ii)&nbsp;could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect or materially adversely
affect the Transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) None of the Borrower, the Restricted Subsidiaries or their respective properties or assets is in violation
of (nor will the continued operation of their material properties and assets as currently conducted violate) any law, rule or regulation (including any zoning, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
building, Environmental Law, ordinance, code or approval or any building permit) or is in default with respect to any judgment, writ, injunction or decree of any Governmental Authority (
including without limitation the USA Patriot Act), where such violation or default could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Borrower and each Loan Party shall (and shall ensure that the consummation of the Transactions) comply with all applicable financial
assistance laws and regulations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.10 <U>Federal Reserve Regulations</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) None of the Borrower or the Restricted Subsidiaries is engaged principally, or as one of its important activities, in the business of
extending credit for the purpose of purchasing or carrying Margin Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) No part of the proceeds of any Loan will be used, whether
directly or indirectly, and whether immediately, incidentally or ultimately, (i)&nbsp;to purchase or carry Margin Stock or to extend credit to others for the purpose of purchasing or carrying Margin Stock or to refund indebtedness originally
incurred for such purpose or (ii)&nbsp;for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board of Governors, including Regulation U or Regulation X of the Board of Governors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.11 <U>Investment Company Act</U>. None of the Borrower or its Subsidiaries is an &#147;investment company&#148; or is required
to register as an investment company, or is controlled by, or underwriters of, investment companies, each as defined in the Investment Company Act of 1940, as amended from time to time, or is otherwise subject to regulation thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.12 <U>Use of Proceeds</U>. The Borrower will use the proceeds of each Loan to finance working capital of the Borrower and its
Subsidiaries and for other general corporate purposes of the Borrower and its Subsidiaries and to pay the Transaction Costs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.13 <U>Taxes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Other than as could not be, individually or in the aggregate, reasonably expected to have a Material Adverse Effect, the Borrower and its
Restricted Subsidiaries (i)&nbsp;has timely filed or caused to be timely filed all Tax returns required to have been filed by it that are material to such companies taken as a whole and each such Tax return is true and correct in all material
respects and (ii)&nbsp;has timely paid or caused to be timely paid all Taxes shown thereon to be due and payable by it and all other material Taxes or assessments, except in each case for Taxes or assessments that are being contested in good faith
by appropriate proceedings and for which the Borrower or any of the Restricted Subsidiaries (as the case may be) has set aside on its books adequate reserves in accordance with IFRS; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) other than as could not be, individually or in the aggregate, reasonably expected to have a Material Adverse Effect, with respect to the
Borrower and the Restricted Subsidiaries, (i)&nbsp;there are no claims being asserted in writing with respect to any Taxes, (ii)&nbsp;no presently effective waivers or extensions of statutes of limitation with respect to Taxes have been given or
requested and (iii)&nbsp;no Tax returns are being examined by, and no written notification of intention to examine has been received from, any Governmental Authority. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.14 <U>No Material Misstatements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) All written factual information (other than the projections, forward looking information and information of a general economic or industry
specific nature) (the &#147;<U>Information</U>&#148;) concerning the Borrower, its Subsidiaries, the Transactions and any other transactions contemplated hereby prepared by or on behalf of the foregoing or their representatives and made available to
any Lenders or the Administrative Agent in connection with the Transactions or the other transactions contemplated hereby, when taken as a whole, is or will be, when furnished, correct in all material respects, as of the date such Information was
furnished to the Lenders and as of the Closing Date, and does not or will not, when furnished, taken as a whole, contain any untrue statement of a material fact as of any such date or omit to state a material fact necessary in order to make the
statements contained therein not materially misleading in light of the circumstances under which such statements were made (giving effect to all supplements and updates thereto). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Any projections and other forward looking information prepared by or on behalf of the Borrower or any of its representatives and that have
been made available to any Lenders or the Administrative Agent in connection with the transactions contemplated hereby, together with all supplements and updates thereto, (i)&nbsp;have been prepared in good faith based upon assumptions believed by
the Borrower to be reasonable as of the date thereof, as of the date such projections and other forward looking information were furnished to the Lenders and as of the Closing Date, and (ii)&nbsp;as of the Closing Date, have not been modified in any
material respect by the Borrower. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.15 <U>Pensions; ERISA</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Except as could not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, each Plan is in
compliance with the applicable provisions of ERISA, the Code and other federal, state and foreign laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Except as could not
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, (i)&nbsp;no ERISA Event has occurred or is reasonably expected to occur, (ii)&nbsp;neither the Borrower nor any ERISA Affiliate has incurred, or
reasonably expects to incur, any liability under Title IV of ERISA with respect to any Plan (other than premiums due and not delinquent under Section&nbsp;4007 of ERISA), (iii)&nbsp;neither the Borrower nor any ERISA Affiliate has incurred, or
reasonably expects to incur, any liability (and no event has occurred which, with the giving of notice under Section&nbsp;4219 of ERISA, would result in such liability) under Section&nbsp;4201 or 4243 of ERISA with respect to a Multiemployer Plan,
and (iv)&nbsp;neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Section&nbsp;4069 or 4212(c) of ERISA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Except as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, (i)&nbsp;each <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Plan has been maintained in compliance with its terms and with the provisions of applicable law, and has been maintained, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
where required, in good standing with all applicable Governmental Authorities, and (ii)&nbsp;neither the Borrower nor any of its Subsidiaries has incurred, or reasonably expects to incur, any
obligation in connection with the termination of or withdrawal from any <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Except
for the Pechiney UK Limited and Associated Companies Pension and Life Assurance Scheme (the &#147;<U>UK DB Plan</U>&#148;) or as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect,
(i)&nbsp;neither the Borrower nor any of its Restricted Subsidiaries is or has at any time been an employer (for the purposes of Sections&nbsp;38 to 51 of the Pensions Act 2004) of an &#147;occupational pension scheme&#148; that is not a &#147;money
purchase scheme&#148; (both terms as defined in the Pensions Schemes Act 1993) and (ii)&nbsp;neither the Borrower nor any of its Restricted Subsidiaries is or has at any time been &#147;connected&#148; with or an &#147;associate&#148; of (as those
terms are used in Sections&nbsp;38 and 43 of the Pensions Act 2004) such an employer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) With respect to each <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Plan that is a German pension scheme, except as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, the Borrower and each of the German Subsidiaries
have complied at all times with such pension scheme&#146;s terms and conditions and any German statutory requirements applicable thereto including, where applicable, the establishment of book reserves to the maximum extent permitted by law, the full
funding of, or full payments to, any kind of pension fund (<I>Pensionsfonds</I>), occupational pension fund (<I>Pensionskasse</I>), benevolent fund (<I>Unterst&uuml;zungskasse</I>), direct insurance (<I>Direktversicherung</I>) contract or pension
liability reinsurance (<I>R&uuml;ckdeckungsversicherung</I>) contract and the payment of contributions to the pension insolvency insurance (<I>Pensionssicherungsverein</I>) in full when due. Except as could not reasonably be expected, individually
or in the aggregate, to result in a Material Adverse Effect, each of the pensions of pensioners of the Borrower and each of its Subsidiaries in respect of any <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan that is a German pension scheme have
at all times been increased, without any suspension in full or in parts, to the extent required by the applicable pension schemes and by the applicable statutory requirements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) With respect to each <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan that is a French pension scheme, except as could not reasonably
be expected, individually or in the aggregate, to result in a Material Adverse Effect, the Borrower and each of the French Subsidiaries have complied at all times with such pension scheme&#146;s terms and conditions and any French statutory
requirements applicable thereto, including, where applicable, the establishment of adequate book reserves and the payment of adequate contributions to any insurance schemes for this purpose (<I>contrat indemnit&eacute;s de fin de
carri&egrave;re</I>) in accordance with latest actuarial estimates. Except as could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, each of the French Subsidiaries have fully paid any required
contributions, benefits and indemnities, arising out, or in connection with, any <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan that is a French pension scheme, including the basic French pension scheme, the complementary pensions schemes
(<I>Agirc</I> and <I>Arrco</I>), the retirement indemnities (<I>indemnit&eacute;s de fin de carri&egrave;re</I> or <I>indemnit&eacute;s de retraite</I>), the jubilee benefits (<I>m&eacute;dailles du travail</I>), and, where applicable, the <FONT
STYLE="white-space:nowrap">in-house</FONT> defined benefit pension schemes (<I>retraites maison</I>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.16 <U>Environmental
Matters</U>. Except with respect to any other matters that, individually or in the aggregate, could not reasonably be expected to result in a Material </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Adverse Effect, the Borrower and each Restricted Subsidiary, and their respective operations and properties, (i)&nbsp;are in compliance with all Environmental Laws and have obtained, maintained
and complied with all permits, licenses and other approvals required under any Environmental Law, (ii)&nbsp;have not become subject to any Environmental Liability, (iii)&nbsp;have not received written notice of any claim with respect to any
Environmental Liability, (iv)&nbsp;to the knowledge of the Borrower and each Restricted Subsidiary, there are no circumstances, conditions or occurrences that would reasonably be expected to give rise to any Environmental Liability of the Borrower
or any Restricted Subsidiary, or with respect to their respective operations and properties, and (v)&nbsp;to their knowledge, no other Person has caused, or permitted to occur, any Release, or treated or disposed of, or arranged for treatment or
disposal of, any Hazardous Materials. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.17 <U>Solvency</U>. After giving effect to the consummation of the Transactions, the
Borrower, together with its Restricted Subsidiaries on a consolidated basis, is Solvent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.18 <U>Labor Matters</U>. Except
as, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect: (a)&nbsp;there are no strikes or other labor disputes pending or threatened against the Borrower or any of the Restricted Subsidiaries;
(b)&nbsp;the hours worked and payments made to employees of the Borrower and the Restricted Subsidiaries have not been in violation of the Fair Labor Standards Act or any other applicable law dealing with such matters; (c)&nbsp;all payments due from
the Borrower or any of the Restricted Subsidiaries or for which any claim may be made against the Borrower or any of the Restricted Subsidiaries, on account of wages and employee health and welfare insurance and other benefits have been paid or
accrued as a liability on the books of the Borrower or such Restricted Subsidiary to the extent required by IFRS; (d)&nbsp;the Borrower and the Restricted Subsidiaries are in compliance with all applicable laws, agreements, policies, plans and
programs relating to employment and employment practices and (e)&nbsp;consummation of the Transactions will not give rise to a right of termination or right of renegotiation on the part of any union under any collective bargaining agreement to which
the Borrower or any of the Restricted Subsidiaries is a party or by which the Borrower or any of the Restricted Subsidiaries is bound. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.19 <U>Social Security</U>. Except as, individually or in the aggregate, could not reasonably be expected to have a Material
Adverse Effect: (a)&nbsp;no claims with respect to social security contributions or any other labor related contributions are being asserted against any Subsidiary and (b)&nbsp;the Borrower and each of its Subsidiaries has complied with any
applicable labor law, social security law, labor regulation or social security regulation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.20 <U>Senior Debt</U>. The Loan
Document Obligations constitute &#147;Senior Debt&#148; (or the equivalent thereof) and, if applicable, &#147;Designated Senior Debt&#148; (or the equivalent thereof) under the documentation governing any Indebtedness that is subordinated in right
of payment to the Loan Document Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.21 <U>Centre of Main Interests and Establishments</U>. For the purposes of
The Council of the European Union Regulation No.&nbsp;1346/2000 on Insolvency Proceedings (the &#147;<U>EU Insolvency Regulation</U>&#148;), with respect to each Loan Party incorporated within the European Union, its &#147;centre of main
interest&#148; (as that term is used in Article&nbsp;3(1) of the EU Insolvency Regulation) is situated in its jurisdiction of incorporation and it has no &#147;establishment&#148; (as that term is used in Article&nbsp;2(h) of the EU Insolvency
Regulations) in any other jurisdiction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.22 <U>Intellectual Property; Licenses, Etc.</U> The Borrower and its Restricted
Subsidiaries own, license or possess the valid right to use, all Intellectual Property used in or reasonably necessary for the operation of their businesses as currently conducted, and, without conflict with the Intellectual Property rights of any
Person, in each case, except, individually or in the aggregate, as could not reasonably be expected to have a Material Adverse Effect; <U>provided</U>, <U>however</U>, to the extent the foregoing representation and warranty relates to infringement,
misappropriation or a violation of Intellectual Property rights held by a Person, it shall be considered qualified by the knowledge of the Borrower or any Restricted Subsidiary. To the knowledge of the Borrower, no Intellectual Property,
advertising, product, process, method, substance, part or other material used by the Borrower or any Restricted Subsidiary, or the operation of its business as currently conducted, infringes upon, misappropriates or violates any Intellectual
Property rights held by any Person except for such infringements, misappropriations or violations, individually or in the aggregate, which could not reasonably be expected to have a Material Adverse Effect. No claim or litigation regarding any of
the Intellectual Property of the Borrower or any Restricted Subsidiary is pending or, to the knowledge of the Borrower, threatened against the Borrower or any Restricted Subsidiary, which claim or litigation, individually or in the aggregate, if
subject to an adverse ruling against the Borrower or any Restricted Subsidiary, could reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.23 <U>Anti-Money Laundering and Economic Sanctions Laws</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Except as could not reasonably be expected to have a Material Adverse Effect, no Loan Party nor any of its Subsidiaries or its Affiliates
and none of the respective officers, directors or agents of such Loan Party, Subsidiary or Affiliate has violated or is in violation of any applicable Anti-Money Laundering Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) No Loan Party nor any of its Subsidiaries or its Affiliates nor, to any Loan Party&#146;s knowledge, any director, officer, employee,
agent, Affiliate (other than another Loan Party or a Subsidiary of a Loan Party) or representative of such Loan Party or any Subsidiary (each, a &#147;<U>Specified Person</U>&#148;) is an individual or entity currently the subject of any sanctions
administered or enforced by OFAC, the United Nations Security Council, the European Union, Her Majesty&#146;s Treasury or other relevant sanctions authority (collectively, &#147;<U>Sanctions</U>&#148;), nor is any Loan Party or any of its
Subsidiaries or its Affiliates located, organized or resident in a country or territory that is the subject of Sanctions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) No
Specified Person will use any proceeds of the Loans or lend, contribute or otherwise make available such proceeds to any Person for the purpose of financing the activities of or with any Person or in any country or territory that, at the time of
funding, is an Embargoed Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Except to the extent conducted in accordance with applicable Law, no Loan Party, nor any of its
Subsidiaries and Affiliates and, to any Loan Party&#146;s knowledge, none of the respective officers, directors, brokers or agents of such Loan Party, any Subsidiary or any Affiliate (other than another Loan Party or a Subsidiary of a Loan Party)
acting or benefiting in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
any capacity in connection with the Loans (i)&nbsp;conducts any business or engages in making or receiving any contribution of funds, goods or services to or for the benefit of any Embargoed
Person, (ii)&nbsp;deals in, or otherwise engages in any transaction related to, any property or interests in property blocked pursuant to any Sanctions or (iii)&nbsp;engages in or conspires to engage in any transaction that evades or avoids, or has
the purpose of evading or avoiding, or attempts to violate, any of the applicable prohibitions set forth in any Economic Sanctions Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) To the Borrower&#146;s knowledge, within the past five years, each of the Loan Parties and its Subsidiaries is in compliance in all
material respects with and has not committed any material violation of applicable law or regulation, permit, order or other decision or requirement having the force or effect of law or regulation of any governmental entity concerning the importation
of products, the exportation or <FONT STYLE="white-space:nowrap">re-exportation</FONT> of products (including technology and services), the terms and conduct of international transactions and the making or receiving of international payments,
including, as applicable, the Tariff Act of 1930, as amended, and other laws, regulations and programs administered or enforced by U.S. Customs and Border Protection and U.S. Immigration and Customs Enforcement, and their predecessor agencies, the
Export Administration Act of 1979, as amended, the Export Administration Regulations, the International Emergency Economic Powers Act, as amended, the Trading With the Enemy Act, as amended, the Arms Export Control Act, as amended, the International
Traffic in Arms Regulations, Executive Orders of the President regarding embargoes and restrictions on transactions with designated entities, the embargoes and restrictions administered by the U.S. Office of Foreign Assets Control, the anti-boycott
laws administered by the U.S. Department of Commerce and the anti-boycott laws administered by the U.S. Department of the Treasury. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;3.24 <U>Anti-Corruption Laws</U>. Neither Borrower nor any of its Subsidiaries nor, to their knowledge, any director, officer,
agent, employee or Affiliate (other than another Loan Party or a Subsidiary of a Loan Party) of the Borrower or any Subsidiary is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the FCPA
or any other applicable anti-corruption laws, including, without limitation, making use of the mails or any means or instrumentality of interstate commerce corruptly in furtherance of an offer, payment, promise to pay or authorization or approval of
the payment of any money, or other property, gift, promise to give or authorization of the giving of anything of value, directly or indirectly, to any &#147;foreign official&#148; (as such term is defined in the FCPA) or any foreign political party
or official thereof or any candidate for foreign political office in contravention of the FCPA or any other applicable anti-corruption laws. The Borrower, its Subsidiaries and its Affiliates have conducted their businesses in compliance with
applicable anti-corruption laws and the FCPA and will maintain policies and procedures designed to promote and achieve compliance with such laws and with the representation and warranty contained herein. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;IV. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONDITIONS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.01 <U>Closing Date</U>. The obligations of the Lenders to make Loans hereunder shall become effective on the date on which each
of the following conditions shall be satisfied (or waived in accordance with Section&nbsp;9.02) (such date, the &#147;<U>Closing Date</U>&#148;). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Administrative Agent (or its counsel) shall have received either (i)&nbsp;a counterpart
of this Agreement signed on behalf of the Borrower and the Lenders or (ii)&nbsp;written evidence satisfactory to the Administrative Agent (which may include facsimile or other electronic transmission of a signed counterpart of this Agreement) that
the Borrower and the Lenders have signed a counterpart of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Administrative Agent shall have received a written
opinion (addressed to the Administrative Agent and the Lenders and dated the Closing Date) of (i)&nbsp;Wachtell, Lipton, Rosen&nbsp;&amp; Katz, special New York and Delaware counsel for the Loan Parties, (ii)&nbsp;Clifford Chance
Partnerschaftsgesellschaft, German counsel to the Loan Parties, (iii)&nbsp;Clifford Chance Europe LLP, French counsel to the Loan Parties, (iv)&nbsp;Walder Wyss Ltd., Swiss counsel to the Loan Parties and (v)&nbsp;Stibbe, Netherlands counsel to the
Loan Parties. Each such opinion shall be in form and substance reasonably satisfactory to the Administrative Agent. The Borrower hereby requests such counsel to deliver such opinions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Administrative Agent shall have received a certificate of each Loan Party, dated the Closing Date, substantially in the form of
Exhibit&nbsp;E or such other form acceptable to the Administrative Agent with appropriate insertions, executed by any Responsible Officer of such Loan Party, and including or attaching the documents referred to in paragraph&nbsp;(d) of this Section.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Administrative Agent shall have received a copy of (i)&nbsp;each Organizational Document of each Loan Party certified, to the
extent applicable, as of a recent date by the applicable Governmental Authority or, if customary in such jurisdiction, any Responsible Officer of the relevant Loan Party (in relation to a Loan Party constituted under (A)&nbsp;German law, in respect
of commercial register extracts not older than 14 days and (B)&nbsp;French law, a certified copy of its <FONT STYLE="white-space:nowrap">by-laws</FONT> (<I>statuts</I>), an original copy of the <I>extrait
<FONT STYLE="white-space:nowrap">K-bis</FONT></I> and the <I>certificat de non-faillite</I> relating to it of less than thirty (30)&nbsp;days prior to the Closing Date); (ii)&nbsp;signature and, to the extent such concept exists, incumbency
certificates of the Responsible Officers of each Loan Party executing the Loan Documents to which it is a party, (iii)&nbsp;resolutions of the Board of Directors and/or similar governing bodies (and, if required under its <FONT
STYLE="white-space:nowrap">by-laws</FONT> and/or the respective applicable law, a resolution of its shareholders) of each Loan Party (other than a Dutch Loan Party) approving and authorizing the execution, delivery and performance of Loan Documents
to which it is a party, certified as of the Closing Date by its secretary, an assistant secretary or a Responsible Officer as being in full force and effect without modification or amendment, (iv)&nbsp;a good standing certificate (to the extent such
concept exists) from the applicable Governmental Authority of each Loan Party&#146;s jurisdiction of incorporation, organization or formation and (v)&nbsp;in relation to each Dutch Loan Party, the Dutch MBR. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The Administrative Agent shall have received all fees and other amounts previously agreed in writing by the Joint Lead Arrangers, the
Joint Bookrunners, the Administrative Agent, and the Borrower to be due and payable on or prior to the Closing Date, including, to the extent invoiced at least one Business Day prior to the Closing Date, reimbursement or payment of all out-of-pocket
expenses (including reasonable fees, charges and disbursements of counsel) required to be so reimbursed or paid. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) The Guarantee
Requirement shall have been satisfied. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) The ABL Credit Agreement Amendment shall have been executed and delivered by each party
thereto, in form and substance reasonably satisfactory to the Administrative Agent, and shall be in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) The
Administrative Agent shall have received the financial statements of the Borrower as described in Section&nbsp;3.05, which financial statements shall have been prepared in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) The Existing Credit Agreement shall have been refinanced and the Administrative Agent shall have received reasonably satisfactory evidence
thereof (together with all documents or instruments necessary to release all Liens securing the Existing Credit Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) The
Lenders shall have received a certificate from the chief financial officer of the Borrower in the form of Exhibit&nbsp;F certifying as to the Solvency of the Borrower and its Restricted Subsidiaries on a consolidated basis after giving effect to the
Transactions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) The Administrative Agent shall have received at least 5 Business&nbsp;Days prior to the Closing Date all documentation
and other information about the Loan Parties as shall have been requested in writing at least 10 Business&nbsp;Days prior to the Closing Date by the Administrative Agent or any Joint Lead Arranger that the Administrative Agent or such Joint Lead
Arranger shall have reasonably determined is required by regulatory authorities under applicable &#147;know your customer&#148; and anti-money laundering rules and regulations, including without limitation the USA Patriot Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) The Affiliate Subordination Agreement shall have been duly executed and delivered by each of the Loan Parties, substantially in the form
of Exhibit&nbsp;D, and shall be in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) The Administrative Agent shall have received the Swiss Tax Ruling. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;4.02 <U>Each Credit Event</U>. The obligation of each Lender to make a Loan on the occasion of any Borrowing is subject to the
satisfaction of the following conditions: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The representations and warranties of each Loan Party set forth in the Loan Documents shall
be true and correct in all material respects on and as of the date of such Borrowing before and after giving effect to such Borrowing and to the application of proceeds therefrom, as though made on and as of such date; <U>provided</U> that, to the
extent that such representations and warranties specifically refer to an earlier date or period, they shall be true and correct in all material respects as of such earlier date or period; <U>provided</U> <U>further</U> that any representation and
warranty that is qualified as to &#147;materiality,&#148; &#147;Material Adverse Effect&#148; or similar language shall be true and correct in all respects on the date of such Credit Extension or on such earlier date, as the case may be (after
giving effect to such qualification). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) At the time of and immediately after giving effect to such Borrowing, no Default or Event of
Default shall have occurred and be continuing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Solely to the extent that immediately after giving effect to such Borrowing, the aggregate
outstanding principal amount of Loans represents more than 30% of the aggregate Commitments, at the time of and immediately after giving effect to such Borrowing, the Borrower shall be in compliance with the covenants set forth in Section&nbsp;6.08
and Section&nbsp;6.09 for the Test Period most recently ended on a pro forma basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Solely to the extent that immediately after
giving effect to such Borrowing, the aggregate outstanding principal amount of Loans represents more than 30% of the aggregate Commitments, at the time of and immediately after giving effect to such Borrowing, the Borrower shall be in compliance
with the Guarantor Coverage Test for the Test Period most recently ended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The Administrative Agent shall have received a notice of
borrowing in accordance with Article&nbsp;II hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Borrowing (<U>provided</U> that a conversion or a continuation of a Borrowing shall not
constitute a &#147;Borrowing&#148; for purposes of this Section) shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in paragraphs&nbsp;(a), (b), and, if applicable,
(c)&nbsp;and (d)&nbsp;of this Section. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;V. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AFFIRMATIVE COVENANTS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Until the
Commitments shall have expired or been terminated, the principal of and interest on each Loan and all fees, expenses and other amounts (other than contingent amounts not yet due) payable under any Loan Document shall have been paid in full, the
Borrower covenants and agrees for itself and, as appropriate, each Loan Party, with the Lenders that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.01 <U>Reports and
Other Information</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Whether or not the Borrower is subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, the Borrower will
furnish to the Administrative Agent: (1)&nbsp;within 65 days after the end of each of the first three fiscal quarters in each fiscal year, quarterly reports containing unaudited financial statements (including a balance sheet and statement of
income, changes in stockholders&#146; equity and cash flow) for and as of the end of such fiscal quarter and year to date period (with comparable financial statements for the corresponding fiscal quarter and year to date period of the immediately
preceding fiscal year); (2)&nbsp;within 120 days after the end of each fiscal year, an annual report that includes all information that would be required to be filed with the SEC on Form 20-F (or any successor form); and (3)&nbsp;at or prior to such
times as would be required to be filed or furnished to the SEC as a &#147;foreign private issuer&#148; subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, all such other reports and information that the Borrower would have been required to
file or furnish pursuant thereto; <I>provided</I>, <I>however</I>, that to the extent that the Borrower ceases to qualify as a &#147;foreign private issuer&#148; within the meaning of the Exchange Act, whether or not the Borrower is then subject to
Section&nbsp;13(a) or 15(d) of the Exchange Act, the Borrower will either file or furnish with the SEC (as a &#147;voluntary filer&#148; if the Borrower is not </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act) or furnish to the Administrative Agent, so long as any Loans or Commitments hereunder are outstanding, within 30 days of the
respective dates on which the Administrative Agent would be required to file such documents with the SEC if it was required to file such documents under the Exchange Act, all reports and other information that would be required to be filed with (or
furnished to) the SEC pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act as, in the Borrower&#146;s sole discretion, either a &#147;foreign private issuer&#148; or a U.S. domestic registrant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If required by the rules and regulations of the SEC, the Borrower will electronically file or furnish, as the case may be, a copy of all
information and reports referred to in paragraph (a)&nbsp;above with the SEC for public availability within the time periods specified above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding the foregoing, the Borrower will be deemed to have furnished such reports referred to in paragraph (a)&nbsp;above to the
Administrative Agent and the Lenders if the Borrower has filed or furnished such reports with the SEC and such reports are publicly available on the SEC&#146;s website; provided, however, that the Administrative Agent shall have no obligation
whatsoever to determine whether or not such information, documents or reports have been so filed or furnished. Delivery of such reports, information and documents to the Administrative Agent pursuant to this covenant is for informational purposes
only and the Administrative Agent&#146;s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Borrower&#146;s compliance with any of its
covenants under this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Borrower will also (1)&nbsp;not later than 10 Business Days after furnishing to the
Administrative Agent the annual and quarterly reports required by clause (1)&nbsp;and (2)&nbsp;of paragraph (a)&nbsp;above, hold a publicly accessible conference call to discuss such reports and the results of operations for the relevant reporting
period (including a question and answer portion of the call); and (2)&nbsp;issue a press release to an internationally recognized wire service no fewer than three Business Days prior to the date of the conference call required by the foregoing
clause (1)&nbsp;of this paragraph, announcing the time and date of such conference call and either including all information necessary to access the call or directing Lenders, prospective investors, broker dealers and securities analysts to contact
the appropriate person at the Borrower to obtain such information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) At any time that any of the Borrower&#146;s Subsidiaries that are
Significant Subsidiaries are Unrestricted Subsidiaries, then the quarterly and annual financial information required by paragraph (a)&nbsp;above will include a reasonably detailed presentation, either on the face of the financial statements or in
the footnotes thereto or in the &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations,&#148; of the financial condition and results of operations of the Borrower and its Restricted Subsidiaries separate
from the financial condition and results of operations of the Unrestricted Subsidiaries of the Borrower, <I>provided</I> that the Borrower will not be required to provide such separate information to the extent such Unrestricted Subsidiaries are the
subject of a confidential filing of a registration statement with the SEC. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding anything herein to the contrary, the Borrower will not be deemed to have
failed to comply with any of its agreements in this Section&nbsp;5.01 for purposes of Article VII hereof until 30 days after the date any report hereunder is required to be filed with the SEC (or otherwise made available to the Administrative Agent)
pursuant to this Section&nbsp;5.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Simultaneously with any delivery of financial statements under paragraph (a)&nbsp;above, and
solely to the extent that, pursuant to Section&nbsp;6.08 and Section&nbsp;6.09 of this Agreement, the Borrower is required to comply with the covenants set forth in such Sections, as of the last day of the Test Period most recently ended for which
such financial statements are required to be delivered under paragraph (a)&nbsp;above, a certificate of a Financial Officer setting forth reasonably detailed calculations demonstrating compliance with the covenants contained in Section&nbsp;6.08 and
Section&nbsp;6.09. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.02 <U>Existence; Business and Properties</U>. The Borrower will, and will cause each Restricted
Subsidiary to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Do or cause to be done all things necessary to preserve, renew and keep in full force and effect its legal existence
except: (i)&nbsp;as otherwise expressly permitted under Section&nbsp;6.07, (ii)&nbsp;for the liquidation or dissolution of Subsidiaries if the assets of such Subsidiaries are acquired by the Borrower or a Wholly Owned Subsidiary of the Borrower in
such liquidation or dissolution and (iii)&nbsp;in the case of the Subsidiaries, in connection with any merger, disposition, liquidation or transfer thereof (or of the assets thereof) not prohibited by Article VI hereof; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) (i) Except as could not reasonably be expected to have a Material Adverse Effect, do or cause to be done all things necessary to obtain,
preserve, renew, extend and keep in full force and effect the permits, franchises, authorizations, Intellectual Property, licenses and rights with respect thereto necessary in the normal conduct of its business and (ii)&nbsp;at all times maintain
and preserve all material property necessary in the normal conduct of its business and keep such property in good repair, working order and condition and from time to time make, or cause to be made, all needful and proper repairs, renewals,
additions, improvements and replacements thereto necessary in order that the business carried on in connection therewith, if any, may be properly conducted at all times (in each case except as expressly permitted by this Agreement). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.03 <U>Insurance</U>. The Borrower will, and will cause each Restricted Subsidiary to keep its insurable properties insured at
all times by financially sound and reputable insurers in such amounts as shall be customary for similar businesses and maintain such other reasonable insurance (including, to the extent reasonably deemed prudent, self-insurance), of such types, to
such extent and against such risks, as is customary with companies in the same or similar businesses, taking into account the general degree to which such companies are leveraged, and maintain such other insurance as may be required by law or any
other Loan Document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.04 <U>Payment of Taxes, etc.</U> The Borrower will, and will cause each of its Restricted
Subsidiaries to pay its obligations in respect of Tax liabilities, assessments and governmental charges, before the same shall become delinquent or in default, except where the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount or validity thereof is being contested in good faith by appropriate proceedings and the Borrower or a Subsidiary thereof has set aside on its books adequate reserves therefor in accordance
with IFRS and except in each case where the failure to make payment could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.05 <U>Notices of Material Events</U>. Promptly after any Responsible Officer of the Borrower obtains actual knowledge thereof,
the Borrower will furnish to the Administrative Agent (for distribution to each Lender through the Administrative Agent) written notice of the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the occurrence of any Default or Event of Default, specifying the nature and extent thereof and the corrective action (if any) proposed to
be taken with respect thereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the filing or commencement of, or any written threat or notice of intention of any Person to file or
commence, any action, suit or proceeding, whether at law or in equity or by or before any Governmental Authority or in arbitration, against the Borrower or any of its Subsidiaries as to which an adverse determination is reasonably probable and that,
if adversely determined, could reasonably be expected to have a Material Adverse Effect; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) any other development specific to the
Borrower or any of its Subsidiaries that is not a matter of general public knowledge and that has had, or could reasonably be expected to have, a Material Adverse Effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the occurrence of any ERISA Event (or similar event with respect to any <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan) that could
reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the occurrence of any change in
the rate of contributions to any pension scheme operated by or maintained for the benefit of the Borrower or any Subsidiary and/or any of their (former) directors and employees paid or required (by law or otherwise) that could reasonably be
expected, individually or in the aggregate, to result in a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each notice delivered under this Section shall be accompanied by a
written statement of a Responsible Officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.06 <U>Compliance with Laws</U>. The Borrower will, and will cause each of its Restricted Subsidiaries to, comply with all laws,
rules, regulations and judgments, writs, injunctions, decrees and orders of any Governmental Authority, whether now in effect or hereafter enacted, applicable to it or its property (including without limitation the USA Patriot Act), except where the
failure to do so could not reasonably be expected to result in a Material Adverse Effect; <U>provided</U> that this Section&nbsp;5.06 shall not apply to Environmental Laws, which are the subject of Section&nbsp;5.10, or to laws related to Taxes,
which are the subject of Section&nbsp;5.04. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.07 <U>Maintaining Records; Access to Properties and Inspections</U>. The
Borrower will, and will cause each of its Restricted Subsidiaries to, maintain all financial records in accordance with IFRS and permit any Persons designated by the Administrative Agent or, upon the occurrence and during the continuance of an Event
of Default under Section&nbsp;7.01(a), </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(b), (g) or (h), any Lender to visit and inspect the financial records and the properties of the Borrower or any of the Restricted Subsidiaries and to make extracts from and copies of such
financial records, all at the expense of the Borrower, at reasonable times, upon reasonable prior notice to the Borrower, and as often as reasonably requested (but, unless an Event of Default is continuing, not more than one time during any Fiscal
Year) and permit any Persons designated by the Administrative Agent or, upon the occurrence and during the continuance of an Event of Default under Section&nbsp;7.01(a), (b), (g) or (h), any Lender upon reasonable prior notice to the Borrower to
discuss the affairs, finances and condition of the Borrower or any of the Restricted Subsidiaries with the officers thereof and independent accountants therefor (subject to reasonable requirements of confidentiality, including requirements imposed
by law or by contract). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.08 <U>Payment of Obligations</U>. The Borrower will, and will cause each of its Restricted
Subsidiaries to, pay its Indebtedness and other obligations before the same shall become delinquent or in default, except where (a)&nbsp;the validity or amount thereof is being contested in good faith by appropriate proceedings and (b)&nbsp;the
Borrower or such Restricted Subsidiary has set aside on its books adequate reserves with respect thereto in accordance with IFRS, except to the extent the failure to make such payment could not reasonably be expected to result in a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.09 <U>Use of Proceeds</U>. The Borrower will, and will cause each of its Restricted Subsidiaries to, use the
proceeds of the Loans only as contemplated in Section&nbsp;3.12. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.10 <U>Compliance with Environmental Laws</U>. The
Borrower will, and will cause each of its Restricted Subsidiaries to, comply with all Environmental Laws applicable to its operations and properties; and comply with and obtain and renew all permits, licenses and other approvals required pursuant to
Environmental Law for its operations and properties, except, in each case with respect to this Section&nbsp;5.10, to the extent the failure to do so could not reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.11 <U>Guarantor Coverage Test and Additional Subsidiaries</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Subject to the Guarantee Principles, the Borrower shall ensure that, as of the last day of any fiscal quarter following the Closing Date,
solely to the extent any Loans are outstanding on such date, (i)&nbsp;for the applicable Test Period ending on such date, the EBITDA of the Borrower and the Subsidiary Loan Parties, taken together, represents not less than 75% of the consolidated
EBITDA of the Borrower and its Restricted Subsidiaries and (ii)&nbsp;as of such date, the Total Assets of the Borrower and the Subsidiary Loan Parties, taken together represent not less than 60% of the consolidated Total Assets of the Borrower and
its Restricted Subsidiaries (the &#147;<U>Guarantor Coverage Test</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) To the extent that the Borrower elects, after the
Closing Date, to designate a Restricted Subsidiary as a Subsidiary Loan Party, the Borrower will promptly notify the Administrative Agent thereof, and will (x)&nbsp;cause such Restricted Subsidiary to satisfy the Guarantee Requirement with respect
to such Restricted Subsidiary and (y)&nbsp;use its commercially reasonable efforts to deliver to the Administrative Agent such other documentation as is reasonably requested by the Administrative Agent with respect to such Restricted Subsidiary in
connection therewith consistent with the Guarantee Principles or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) In addition to the foregoing, no Restricted Subsidiary of the Borrower shall Guarantee any
Indebtedness of the Borrower or any Subsidiary Loan Party Incurred under Section&nbsp;6.01(a), Section&nbsp;6.01(b)(iii), Section&nbsp;6.01(b)(xv) (to the extent refinancing such Indebtedness), Section&nbsp;6.01(b)(xvi) or Section&nbsp;6.01(b)(xx)
unless such Restricted Subsidiary Guarantees the Loan Document Obligations hereunder in accordance with the terms of the Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.12 <U>Further Assurances</U>. The Borrower will, and will cause each Loan Party to, cause the Guarantee Requirement to be and
remain satisfied, all at the expense of the Loan Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.13 <U>Maintenance of Ratings</U>. The Borrower shall use
commercially reasonable efforts to maintain a public corporate rating from S&amp;P and a public corporate family rating from Moody&#146;s, in each case in respect of the Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.14 <U>Compliance with Material Contracts</U>. The Borrower will, and will cause each of its Restricted Subsidiaries to, perform
and observe all of the terms and conditions of each material agreement to be performed or observed by it, maintain each such material agreement in full force and effect, enforce each such material agreement in accordance with its terms, except where
the failure to do so, either individually or in the aggregate, could not be reasonably likely to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;5.15 <U>Designation of Subsidiaries</U>. As of the Closing Date, all of the Borrower&#146;s Subsidiaries will be Restricted
Subsidiaries, other than Quiver Ventures, LLC and Constellium Engley (Changchung) Automotive Structures Co Ltd. The Borrower will not permit any Unrestricted Subsidiary to become a Restricted Subsidiary except pursuant to the definition of
&#147;Unrestricted Subsidiary.&#148; For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Borrower and its Restricted Subsidiaries (except to the extent repaid) in the Subsidiary so
designated will be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of &#147;Investments.&#148; Such designation will only be permitted if a Restricted Payment in such amount would be
permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;VI. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NEGATIVE COVENANTS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Until the
Commitments have expired or been terminated and the principal of and interest on each Loan and all fees, expenses and other amounts payable (other than contingent amounts not yet due) under any Loan Document have been paid in full, the Borrower
covenants and agrees for itself and each Loan Party, with the Lenders that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.01 <U>Indebtedness and Issuance of
Disqualified Stock and Preferred Stock</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower will not, and will not permit any of its Restricted Subsidiaries to,
directly or indirectly, Incur any Indebtedness (including Acquired Indebtedness) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
or issue any shares of Disqualified Stock; and the Borrower will not permit any of its Restricted Subsidiaries (other than a Subsidiary Loan Party) to issue any shares of Preferred Stock;
<I>provided</I>, <I>however</I>, that the Borrower and any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred Stock, in
each case if the Fixed Charge Coverage Ratio of the Borrower for the most recently ended Test Period immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified Stock or Preferred Stock is issued would have
been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified Stock or Preferred Stock had been issued, as the
case may be, and the application of proceeds therefrom had occurred at the beginning of such Test Period; <I>provided</I>, <I>however</I>, that Indebtedness (including Acquired Indebtedness), Disqualified Stock and Preferred Stock that may be
incurred or issued, as applicable, by all Subsidiaries other than Subsidiary Loan Parties pursuant to this paragraph may not, at the time incurred, exceed the greater of (i)&nbsp;&#128;125,000,000 and (ii)&nbsp;7.0% of Total Assets at such time.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The foregoing limitations will not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Incurrence by Constellium Holdco II B.V. or any U.S. Loan Party of Indebtedness under the ABL Facility provided that
the aggregate amount of Indebtedness thereunder shall not exceed $150,000,000 <I>plus</I> the amount necessary to pay any fees and expenses, including premiums, related in connection with any refinancing, refunding, extension, renewal or replacement
of Indebtedness under the ABL Facility; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Incurrence by the Borrower or any Subsidiary Loan Party of Indebtedness
created hereunder (including pursuant to an Incremental Facility Amendment) and under the other Loan Documents; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the
Incurrence by the Borrower and the Subsidiary Loan Parties of Indebtedness represented by the Notes on the Closing Date and the Guarantees thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Indebtedness, Disqualified Stock or Preferred Stock existing and/or committed to on the Closing Date (other than
Indebtedness described in clauses&nbsp;(i), (ii) and (iii)); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Indebtedness (including Capitalized Lease Obligations)
Incurred by the Borrower or any of its Restricted Subsidiaries, Disqualified Stock issued by the Borrower or any of its Restricted Subsidiaries and Preferred Stock issued by any Restricted Subsidiaries of the Borrower to finance (whether prior to or
within 270 days after) the purchase, lease, construction, repair, replacement or improvement of property (real or personal) (whether through the direct purchase of property or the Capital Stock of any Person owning such property); <I>provided</I>
that the aggregate amount of Indebtedness, Disqualified Stock and Preferred Stock Incurred pursuant to this clause&nbsp;(v), together with any Refinancing Indebtedness Incurred with respect to such Indebtedness pursuant to clause (xv) below, does
not exceed the greater of (i)&nbsp;&#128;125,000,000 and (ii)&nbsp;7.0% of Total Assets as of the date of any incurrence pursuant to this clause&nbsp;(v); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Indebtedness Incurred by the Borrower or any of its Restricted Subsidiaries
constituting reimbursement obligations with respect to letters of credit and bank guarantees issued in the ordinary course of business, including without limitation letters of credit in respect of workers&#146; compensation claims, health,
disability or other benefits to employees or former employees or their families or property, casualty or liability insurance or self-insurance, and letters of credit in connection with the maintenance of, or pursuant to the requirements of,
environmental or other permits or licenses from governmental authorities, or other Indebtedness with respect to reimbursement type obligations regarding workers&#146; compensation claims; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Indebtedness arising from agreements of the Borrower or a Restricted Subsidiary providing for indemnification, adjustment
of purchase price or similar obligations, in each case, Incurred in connection with an acquisition or disposition of any business, assets or a Subsidiary of the Borrower in accordance with the terms of this Agreement, other than Guarantees of
Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) Indebtedness (other than Secured Indebtedness) of the Borrower to a Restricted Subsidiary; <I>provided</I> that, except
in respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Borrower and its Subsidiaries, any such Indebtedness owed to a Restricted Subsidiary that is not a
Subsidiary Loan Party shall be subordinated in right of payment to the Loan Document Obligations pursuant to the Affiliate Subordination Agreement; <I>provided</I>, <I>further</I>, that any subsequent issuance or transfer of any Capital Stock or any
other event which results in any such Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Borrower or another Restricted Subsidiary) shall be deemed, in each case, to
be an Incurrence of such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) shares of Preferred Stock of a Restricted Subsidiary issued to the Borrower or
another Restricted Subsidiary; <I>provided</I> that any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary that holds such shares of Preferred Stock of another Restricted Subsidiary
ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock (except to the Borrower or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of Preferred Stock;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) Indebtedness (other than Secured Indebtedness) of a Restricted Subsidiary to the Borrower or another Restricted
Subsidiary; <I>provided</I> that, except in respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Borrower and its Subsidiaries, if a Subsidiary Loan Party
incurs such Indebtedness to a Restricted Subsidiary that is not a Subsidiary Loan Party under the Guarantee Agreement, such Indebtedness shall </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
be subordinated in right of payment to the Guarantee of such Subsidiary Loan Party under the Guarantee Agreement pursuant to the Affiliate Subordination Agreement; <I>provided</I>,
<I>further</I>, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such
Indebtedness (except to the Borrower or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) Hedging Obligations that are not incurred for speculative purposes and are either (1)&nbsp;for the purpose of fixing or
hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Agreement to be outstanding; (2)&nbsp;for the purpose of fixing or hedging currency exchange rate risk with respect to any currency exchanges;
(3)&nbsp;for the purpose of fixing or hedging commodity price risk with respect to any commodity purchases or sales; or (4)&nbsp;for any combination of the foregoing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) obligations (including reimbursement obligations with respect to letters of credit and bank guarantees) in respect of
performance, bid, appeal and surety bonds and completion guarantees provided by the Borrower or any Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry practice; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) Indebtedness or Disqualified Stock of the Borrower or any Restricted Subsidiary of the Borrower and Preferred Stock of
any Restricted Subsidiary of the Borrower not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified
Stock and Preferred Stock then outstanding and Incurred pursuant to this clause&nbsp;(xiii), does not exceed the greater of (i)&nbsp;&#128;100,000,000 and (ii)&nbsp;5.5% of Total Assets at the time of Incurrence (it being understood that any
Indebtedness Incurred under this clause&nbsp;(xiii) shall cease to be deemed Incurred or outstanding for purposes of this clause&nbsp;(xiii) but shall be deemed Incurred for purposes of clause (a) of this Section&nbsp;6.01 from and after the first
date on which the Borrower, or the Restricted Subsidiary, as the case may be, could have Incurred such Indebtedness under clause (a) of this Section&nbsp;6.01 without reliance upon this clause&nbsp;(xiii)); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) any Guarantee by (x)&nbsp;the Borrower or a Subsidiary Loan Party of Indebtedness or other obligations of the Borrower or
any of its Restricted Subsidiaries, or (y)&nbsp;a Subsidiary that is not a Subsidiary Loan Party of Indebtedness or other obligations of another Subsidiary that is not a Subsidiary Loan Party, in each case so long as the Incurrence of such
Indebtedness Incurred by the Borrower or such Restricted Subsidiary is permitted under the terms of the Loan Documents; <I>provided</I> that if such Indebtedness is by its express terms subordinated in right of payment to the Loan Document
Obligations or the Guarantee of such Restricted Subsidiary under the Guarantee Agreement, as applicable, any such Guarantee of such Subsidiary Loan Party with respect to such Indebtedness shall be subordinated in right of payment to such Subsidiary
Loan Party&#146;s Guarantee under the Guarantee Agreement substantially to the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
same extent as such Indebtedness is subordinated to the Loan Document Obligations or the Guarantee of such Restricted Subsidiary under the Guarantee Agreement, as applicable; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the Incurrence by the Borrower or any of its Restricted Subsidiaries of Indebtedness or Disqualified Stock or Preferred
Stock of a Restricted Subsidiary of the Borrower which serves to refund, refinance or defease any Indebtedness Incurred or committed or Disqualified Stock or Preferred Stock issued as permitted under clause (a) of this Section&nbsp;6.01, this clause
(xv) and clauses&nbsp;(iii), (iv), (v), (xvi) and (xx) of this clause (b)&nbsp;or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund, refinance or defease such Indebtedness, Disqualified Stock or Preferred Stock, including
any Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including tender premiums), expenses, defeasance costs and fees in connection therewith (subject to the following proviso, &#147;<U>Refinancing
Indebtedness</U>&#148;); <I>provided</I>, <I>however</I>, that such Refinancing Indebtedness: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) has a Weighted Average
Life to Maturity at the time such Refinancing Indebtedness is Incurred which is not less than the shorter of (x)&nbsp;the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded,
refinanced or defeased and (y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal on the Indebtedness, Disqualified Stock and Preferred Stock being refunded, refinanced or defeased that were due on or after the
date that is one year following the Maturity Date were instead due on such date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) has a Stated Maturity which is not
earlier than the earlier of (x)&nbsp;the Stated Maturity of the Indebtedness being refunded, refinanced or defeased or (y)&nbsp;91 days following the Maturity Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) to the extent such Refinancing Indebtedness refinances (a)&nbsp;Indebtedness subordinated to the Loan Document Obligations
or the Guarantee of such Restricted Subsidiary under the Guarantee Agreement, as applicable, such Refinancing Indebtedness is subordinated to the Loan Document Obligations or the Guarantee of such Restricted Subsidiary under the Guarantee Agreement,
as applicable, or (b)&nbsp;Disqualified Stock or Preferred Stock, such Refinancing Indebtedness is Disqualified Stock or Preferred Stock; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) is Incurred in an aggregate amount (or if issued with original issue discount, an aggregate issue price) that is equal to
or less than the aggregate amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced plus premium, expenses, costs and fees Incurred in connection with such refinancing;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) shall not include (x)&nbsp;Indebtedness of a Restricted Subsidiary of the Borrower that is not a Subsidiary Loan
Party that refinances Indebtedness of the Borrower or a Restricted Subsidiary that is a Subsidiary Loan Party, or (y)&nbsp;Indebtedness of the Borrower or a Restricted Subsidiary that refinances Indebtedness of an Unrestricted Subsidiary; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) in the case of any Refinancing Indebtedness Incurred to refinance Indebtedness outstanding under clause&nbsp;(v), shall be
deemed to have been Incurred and to be outstanding under clause&nbsp;(v), and not this clause&nbsp;(xv), for purposes of determining amounts outstanding under clause&nbsp;(v); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) Indebtedness, Disqualified Stock or Preferred Stock of (x)&nbsp;the
Borrower or any of its Restricted Subsidiaries Incurred to finance an acquisition, or (y)&nbsp;Persons that are acquired by the Borrower or any of its Restricted Subsidiaries or merged or amalgamated with or into the Borrower or any of its
Restricted Subsidiaries in accordance with the terms of the Loan Documents; <I>provided, however</I>, that after giving effect to such acquisition, merger or amalgamation, either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) (x) the Borrower would be permitted to incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge
Coverage Ratio test set forth in clause (a) of this Section&nbsp;6.01 or (y)&nbsp;the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such acquisition, merger, consolidation or amalgamation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) such Indebtedness, Disqualified Stock or Preferred Stock is incurred by the Borrower and: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">is unsecured Subordinated Indebtedness with subordination terms no more favorable to the holders thereof than subordination terms that are customarily obtained in connection with European high yield financings at the
time of Incurrence; <I>provided</I> that any guarantees thereof are provided by the Subsidiary Loan Parties and are &#147;senior subordinated guarantees&#148; of the type customary for European high yield financings or are otherwise reasonably
acceptable to the Administrative Agent and, in any event, provide for the release of such guarantee by any Loan Party in the event the guarantee by such Loan Party of the obligations under the Guarantee Agreement is also released; </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">is not Incurred while a Default exists and no Default shall result therefrom; and </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="13%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(3)</TD>
<TD ALIGN="left" VALIGN="top">does not mature (and is not mandatorily redeemable in the case of Disqualified Stock or Preferred Stock) and does not require any payment of principal prior to the Maturity Date; </TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) Indebtedness incurred under (i)&nbsp;the Factoring Facilities and (ii)&nbsp;any other Qualified Receivables Financing;
<I>provided</I> that the aggregate principal amount at any time outstanding pursuant to this clause (xvii) shall not exceed &#128;400,000,000; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) Indebtedness arising from the honoring by a bank or other financial
institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; <I>provided</I> that such Indebtedness is extinguished
within ten Business Days of its Incurrence; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) [Reserved]; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) Indebtedness or Disqualified Stock of the Borrower or any Restricted Subsidiary not otherwise permitted hereunder in an
aggregate principal amount or liquidation preference, together with the aggregate principal amount or liquidation preference of any Refinancing Indebtedness Incurred with respect to such Indebtedness or Disqualified Stock pursuant to clause
(xv)&nbsp;below, not exceeding at any time outstanding 100% of the net cash proceeds received by the Borrower and the Restricted Subsidiaries since immediately after the Closing Date from the issue or sale of Equity Interests of the Borrower or any
direct or indirect parent entity of the Borrower (which proceeds are contributed to the Borrower or a Restricted Subsidiary) or cash contributed to the capital of the Borrower (in each case other than proceeds of Disqualified Stock or sales of
Equity Interests to, or contributions received from, the Borrower or any of its Subsidiaries), as determined in accordance with clauses&nbsp;(b) and (c)&nbsp;of the definition of Cumulative Credit, to the extent such net cash proceeds or cash have
not been applied pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section&nbsp;6.02(d) or to make Permitted Investments (other than Permitted Investments specified in
clauses&nbsp;(a) and (c)&nbsp;of the definition thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxi) Indebtedness of the Borrower or any Restricted Subsidiary
consisting of (x)&nbsp;the financing of insurance premiums or (y)&nbsp;take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxii) Indebtedness arising as a result of implementing composite accounting or other cash pooling arrangements involving
solely the Borrower and the Restricted Subsidiaries or solely among Restricted Subsidiaries and entered into the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiii) Indebtedness issued by the Borrower or a Restricted Subsidiary to current or former officers, directors and employees
thereof or any direct or indirect parent thereof, or their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Borrower or any of its direct or indirect parent companies to the
extent permitted under Section&nbsp;6.02(e); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiv) Indebtedness of Restricted Subsidiaries which are not Subsidiary Loan
Parties; <I>provided</I>, <I>however</I>, that the aggregate principal amount of Indebtedness Incurred under this clause&nbsp;(xxiv) does not exceed the greater of (i)&nbsp;&#128;100,000,000 and (ii)&nbsp;5.5% of Total Assets at the time of
Incurrence; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxv) Indebtedness incurred on behalf of, or representing Guarantees of
Indebtedness of, joint ventures of the Borrower or any Restricted Subsidiary not in excess, at any one time outstanding, of the greater of (i)&nbsp;&#128;50,000,000 and (ii)&nbsp;3.0% of Total Assets at the time that such Indebtedness is incurred;
and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxvi) Indebtedness representing deferred compensation or stock-based compensation to employees of the Borrower and
the Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;6.01, in the event that an item of
Indebtedness, Disqualified Stock or Preferred Stock meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses&nbsp;(i) through (xxvi) above or is entitled to be
Incurred pursuant to clause (a) of this Section&nbsp;6.01, the Borrower shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness in any manner that complies with this
Section&nbsp;6.01; <I>provided</I> that all Indebtedness outstanding under the ABL Facility will be deemed to have been Incurred on such date in reliance on clause&nbsp;(b)(i), and the Borrower shall not be permitted to reclassify all or any portion
of such Indebtedness. The Borrower will also be entitled to treat a portion of any Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under clause (a) above and thereafter the remainder of such Indebtedness, Disqualified
Stock or Preferred Stock as having been Incurred under clause (b)&nbsp;above. Accrual of interest, the accretion of accreted value, the payment of interest in the form of additional Indebtedness with the same terms, the payment of dividends on
Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount or liquidation preference and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the
exchange rate of currencies will not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section&nbsp;6.01. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness
which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of Indebtedness; <I>provided</I> that the Incurrence of the Indebtedness represented by such guarantee
or letter of credit, as the case may be, was in compliance with this Section&nbsp;6.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.02 <U>Restricted Payments</U>. The
Borrower will not, and will not permit any of its Restricted Subsidiaries to (directly or indirectly): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) declare or pay any dividend or
make any distribution on account of the Borrower&#146;s or any of its Restricted Subsidiaries&#146; Equity Interests, including any payment made in connection with any merger, amalgamation or consolidation involving the Borrower (other than
(A)&nbsp;dividends or distributions by the Borrower payable solely in Equity Interests (other than Disqualified Stock) of the Borrower; or (B)&nbsp;dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or
distribution payable on or in respect of any class or series of securities issued by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Borrower or a Restricted Subsidiary receives at least its pro rata share of such
dividend or distribution in accordance with its Equity Interests in such class or series of securities); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) purchase or otherwise acquire or retire for value any Equity Interests of the Borrower or any
direct or indirect parent of the Borrower; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or
retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Borrower or any of its Restricted Subsidiaries (other than the payment, redemption, repurchase, defeasance, acquisition or
retirement of (A)&nbsp;Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance,
acquisition or retirement and (B)&nbsp;Indebtedness permitted under clause Section&nbsp;6.01(b)(viii) and Section&nbsp;6.01(b)(x); or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)
make any Restricted Investment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(all such payments and other actions set forth in clauses&nbsp;(a) through (d) above being collectively referred to as
&#147;<U>Restricted Payments</U>&#148;), unless, at the time of such Restricted Payment: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) no Default shall have
occurred and be continuing or would occur as a consequence thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) immediately after giving effect to such
transaction on a pro forma basis, the Borrower could Incur $1.00 of additional Indebtedness under the provisions of Section&nbsp;6.01(a); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such Restricted Payment, together with the aggregate amount of all other Restricted Payments made by the Borrower and its
Restricted Subsidiaries after the Closing Date (and not returned or rescinded) (including Restricted Payments permitted by clauses&nbsp;(e)(i) below and (e)(viii)(b) below, but excluding all other Restricted Payments permitted by the next succeeding
paragraph), is less than an amount equal to the Cumulative Credit. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The foregoing provisions will not prohibit: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of
declaration such payment would have complied with the provisions of this Agreement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) (A) the redemption, repurchase,
retirement or other acquisition of any Equity Interests (&#147;<U>Retired Capital Stock</U>&#148;) of the Borrower or any direct or indirect parent of the Borrower or Subordinated Indebtedness of the Borrower, any direct or indirect parent of the
Borrower or any Subsidiary Loan Party in exchange for, or out of the proceeds of, the substantially concurrent sale of, Equity Interests of the Borrower or any direct or indirect parent of the Borrower or contributions to the equity capital of the
Borrower (other than any Disqualified Stock or any Equity Interests sold to a Subsidiary of the Borrower or to an employee stock ownership plan or any trust established by the Borrower or any of its Subsidiaries) (collectively, including any such
contributions, &#147;<U>Refunding Capital Stock</U>&#148;); and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(B) the declaration and payment of dividends on the Retired Capital Stock out of the proceeds of
the substantially concurrent sale (other than to a Subsidiary of the Borrower or to an employee stock ownership plan or any trust established by the Borrower or any of its Subsidiaries) of Refunding Capital Stock; and if immediately prior to the
retirement of Retired Capital Stock, the declaration and payment of dividends thereon was permitted under clause&nbsp;(vi) below and not made pursuant to this clause (ii)(B), the declaration and payment of dividends on the Refunding Capital Stock
(other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent of the Borrower) in an aggregate amount per year no greater than the
aggregate amount of dividends per annum that were declarable and payable on such Retired Capital Stock immediately prior to such retirement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the redemption, repurchase, defeasance or other acquisition or retirement of Subordinated Indebtedness of the Borrower or
any Subsidiary Loan Party made by exchange for, or out of the proceeds of the substantially concurrent sale (or as promptly as practicable after giving any requisite notice to the holders of such Subordinated Indebtedness) of, new Indebtedness of
the Borrower or a Subsidiary Loan Party which is Incurred in accordance with Section&nbsp;6.01 so long as: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the
principal amount (or accreted value, if applicable) of such new Indebtedness does not exceed the principal amount (or accreted value, if applicable), plus any accrued and unpaid interest of the Subordinated Indebtedness being so redeemed,
repurchased, defeased, acquired or retired for value (plus the amount of any premium required to be paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired plus any
tender premiums, defeasance costs or other fees and expenses incurred in connection therewith); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) such Indebtedness is
subordinated to the Loan Document Obligations or the related Guarantee under the Guarantee Agreement, as the case may be, at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased,
acquired or retired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) such Indebtedness has a final scheduled maturity date equal to or later than the
earlier of (x)&nbsp;the final scheduled maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired or (y)&nbsp;91 days following the Maturity Date; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) such Indebtedness has a Weighted Average Life to Maturity at the time Incurred which is not less than the shorter of
(x)&nbsp;the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired and (y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
on the Indebtedness being so redeemed, repurchased, defeased, acquired or retired that were due on or after the date one year following the Maturity Date were instead due on such date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the repurchase, retirement or other acquisition (or dividends to any direct or indirect parent of the Borrower to finance
any such repurchase, retirement or other acquisition) for value of Equity Interests of the Borrower or any direct or indirect parent of the Borrower held by any future, present or former employee, director or consultant of the Borrower or any direct
or indirect parent of the Borrower or any Subsidiary of the Borrower pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement; <I>provided</I>, <I>however</I>,
that the aggregate amounts paid under this clause&nbsp;(iv) do not exceed &#128;15,000,000 in any calendar year (with unused amounts in any calendar year being permitted to be carried over for the two succeeding calendar years); <I>provided</I>,
<I>further</I>, <I>however</I>, that such amount in any calendar year may be increased by an amount not to exceed: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A)
the cash proceeds received by the Borrower or any of its Restricted Subsidiaries from the sale of Equity Interests (other than Disqualified Stock) of the Borrower or any direct or indirect parent of the Borrower (to the extent contributed to the
Borrower) to members of management, directors or consultants of the Borrower and its Restricted Subsidiaries or any direct or indirect parent of the Borrower that occurs after the Closing Date (<I>provided</I> that the amount of such cash proceeds
utilized for any such repurchase, retirement, other acquisition or dividend will not increase the amount available for Restricted Payments under clause (e)(iii) of this Section&nbsp;6.02; <I>plus</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the cash proceeds of key man life insurance policies received by the Borrower or any direct or indirect parent of the
Borrower (to the extent contributed to the Borrower) or the Borrower&#146;s Restricted Subsidiaries after the Closing Date; <I>less</I> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the amount of any Restricted Payments previously made pursuant to subclauses&nbsp;(A) and (B) above this clause&nbsp;(iv);
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I>provided</I> that the Borrower may elect to apply all or any portion of the aggregate increase contemplated by clauses&nbsp;(A) and
(B) above in any calendar year; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the declaration and payment of dividends or distributions to holders of any class or
series of Disqualified Stock of the Borrower or any of its Restricted Subsidiaries issued or incurred in accordance with Section&nbsp;6.01; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) (a) the declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred
Stock (other than Disqualified Stock) issued after the Closing Date, (b)&nbsp;a Restricted Payment to any direct or indirect parent of the Borrower, the proceeds of which will be used to fund the payment of dividends to holders of any class or
series of Designated Preferred Stock (other than </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Disqualified Stock) of any direct or indirect parent of the Borrower issued after the Closing Date and (c)&nbsp;the declaration and payment of dividends on Refunding Capital Stock that is
Preferred Stock in excess of the dividends declarable and payable thereon pursuant to clause&nbsp;(2) of this paragraph; <I>provided</I>, <I>however</I>, that, (x)&nbsp;for the most recently ended Test Period preceding the date of issuance of such
Designated Preferred Stock or Refunding Capital Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a pro forma basis, the Borrower would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00 and
(y)&nbsp;the aggregate amount of dividends declared and paid pursuant to subclauses&nbsp;(a) and (b)&nbsp;of this clause (vi)&nbsp;does not exceed the net cash proceeds actually received by the Borrower from any such sale of Designated Preferred
Stock (other than Disqualified Stock) issued after the Closing Date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Investments in Unrestricted Subsidiaries and
joint ventures having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause&nbsp;(vii) that are at that time outstanding, not to exceed the greater of (i)&nbsp;&#128;50,000,000 and (ii)&nbsp;2.5% of
Total Assets at the time of such Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); <I>provided</I> that the amount of Investments deemed to have been
made pursuant to this clause&nbsp;(vii) at any time shall be reduced by the Fair Market Value of the proceeds received by the Borrower and/or the Restricted Subsidiaries from the subsequent sale, disposition or other transfer of such Investments
without giving effect to subsequent changes in value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the payment of dividends on the Borrower&#146;s common stock
in an aggregate amount per calendar year not to exceed the sum of (a)&nbsp;&#128;20,000,000 plus (b)&nbsp;an amount per annum up to 6.0% of the net proceeds received after the Closing Date (including, without limitation, contributions to the
Borrower with the proceeds of sales of common stock of any direct or indirect parent) by the Borrower from any public offering of common stock of the Borrower or any direct or indirect parent of the Borrower; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) Restricted Payments that are made with Excluded Contributions; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) (a) Restricted Payments pursuant to clauses (a), (b)&nbsp;and (c)&nbsp;of the definition thereof during the period between
the Closing Date and the Maturity Date and (b)&nbsp;Restricted Payments pursuant to clause (d)&nbsp;of the definition thereof at any time outstanding, in an aggregate amount, pursuant to this clause (x), not to exceed &#128;100,000,000; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the distribution, as a dividend or otherwise, of shares of Capital Stock of, or Indebtedness owed to the Borrower or a
Restricted Subsidiary of the Borrower by, Unrestricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) [Reserved]; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity Interests
represent a portion of the exercise price of such options or warrants; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) purchases of receivables pursuant to a Receivables Repurchase Obligation in
connection with a Qualified Receivables Financing and the payment or distribution of Receivables Fees; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) payments of
cash, or dividends, distributions or advances by the Borrower or any Restricted Subsidiary to allow the payment of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of
Capital Stock of any such Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) the repurchase, redemption or other acquisition or retirement for value of any
Subordinated Indebtedness pursuant to provisions similar to those described in Section&nbsp;6.04; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) [Reserved]; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) other Restricted Payments; <I>provided</I> that Restricted Payments may only be made pursuant to this
clause&nbsp;(xviii) at such time as the Consolidated Net Debt Ratio of the Borrower and its Restricted Subsidiaries, on a pro forma basis after giving effect to such Restricted Payments, is less than 2.00 to 1.00; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that at the time of, and after giving effect to, any Restricted Payment permitted under clauses&nbsp;(vi), (vii), (x), (xi)
and (xviii), no Default shall have occurred and be continuing or would occur as a consequence thereof.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The amount of any Restricted Payment (other
than cash) will be the Fair Market Value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the Borrower or such Subsidiary, as the case may be, pursuant to the Restricted Payment. Except as
otherwise provided herein, the Fair Market Value of any assets or securities that are required to be valued by this covenant will be determined in good faith by the Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.03 <U>Dividend and Other Payment Restrictions Affecting Subsidiaries</U>. The Borrower will not, and will not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to pay dividends or make any other
distributions to the Borrower or any of its Restricted Subsidiaries: (i)&nbsp;on its Capital Stock or (ii)&nbsp;with respect to any other interest or participation in, or measured by, its profits, except in each case for such encumbrances or
restrictions existing under or by reason of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) contractual encumbrances or restrictions in effect on the Closing Date, including
pursuant to the ABL Credit Agreement and the related documentation in effect on the Closing Date and this Agreement and the other Loan Documents and in each case, any similar contractual encumbrances effected by any amendments, modifications,
restatements, renewals, supplements, refundings, replacements or refinancings of such agreements or instruments; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Indentures, the
Notes and the Guarantees thereof in effect on the Closing Date; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) applicable law or any applicable rule, regulation or order; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) any agreement or other instrument of a Person acquired by the Borrower or any Restricted Subsidiary which was in existence at the time of
such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or credit support utilized to consummate such acquisition), which encumbrance or restriction is not applicable to any Person, or the properties
or assets of any Person, other than the Person or its Subsidiaries, or the property or assets of the Person or its Subsidiaries, so acquired; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) contracts or agreements for the sale of assets, including any restriction with respect to a Restricted Subsidiary imposed pursuant to an
agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Secured Indebtedness
otherwise permitted to be Incurred pursuant to Section&nbsp;6.01 and Section&nbsp;6.06 that limit the right of the debtor to dispose of the assets securing such Indebtedness; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) restrictions on cash or other deposits or net worth imposed by customers under contracts entered into in the ordinary course of business;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) customary provisions in joint venture agreements and other similar agreements entered into in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) purchase money obligations and Capitalized Lease Obligations for property acquired or leased in the ordinary course of business that
impose restrictions on the property so acquired or leased; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) customary provisions contained in leases, licenses and other similar
agreements entered into in the ordinary course of business that impose restrictions on the property subject to such lease; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) any
encumbrance or restriction effected in connection with (i)&nbsp;a Factoring Facility (provided that such encumbrance or restriction (I)&nbsp;exists on the date hereof or (II) is in the good faith determination of the Borrower (x)&nbsp;necessary or
advisable to effect such Receivables Financing and applies only to the relevant Subsidiaries to which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring
Facilities in effect on the date hereof) or (ii)&nbsp;a Qualified Receivables Financing; <I>provided</I>, <I>however</I>, that in the case of this clause&nbsp;(k), such encumbrances or restrictions (A)&nbsp;apply only to a Receivables Subsidiary or
(B)&nbsp;are in the good faith determination of the Borrower (x)&nbsp;necessary or advisable to effect such Qualified Receivables Financing and applicable only to the relevant Subsidiaries to which such Receivables Financing is made available or
(y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring Facilities in effect on the date hereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) (A) other Indebtedness or Disqualified Stock of the Borrower or any of its Restricted Subsidiaries, or (B)&nbsp;Preferred Stock of any
Restricted Subsidiary, in each case that is Incurred subsequent to the Closing Date pursuant to Section&nbsp;6.01; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) any Restricted Investment not prohibited by Section&nbsp;6.02 and any Permitted Investment;
or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) any encumbrances or restrictions of the type referred to in clauses (i)&nbsp;and (ii)&nbsp;above imposed by any amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses&nbsp;(a) through (m)&nbsp;above; <I>provided</I> that such amendments,
modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Borrower, no more restrictive with respect to such encumbrances and other restrictions than those
contained in the encumbrances or other restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;6.03, (1)&nbsp;the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (2)&nbsp;the subordination of loans or advances made to
the Borrower or a Restricted Subsidiary of the Borrower to other Indebtedness Incurred by the Borrower or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.04 <U>Asset Sales</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower will not, and will not permit any of its Restricted Subsidiaries to, cause or make an Asset Sale, unless (x)&nbsp;the
Borrower or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined in good faith by the Borrower) of the assets sold or otherwise disposed
of, and (y)&nbsp;at least 75% of the consideration therefor received by the Borrower or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; <I>provided</I> that the amount of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any liabilities (as shown on the Borrower&#146;s or such Restricted Subsidiary&#146;s most recent balance sheet or in the
notes thereto) of the Borrower or any Restricted Subsidiary of the Borrower (other than liabilities that are by their terms subordinated to the Loan Document Obligations or any Guarantee under the Guarantee Agreement) that are assumed by the
transferee of any such assets; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) any notes or other obligations or other securities or assets received by the Borrower
or such Restricted Subsidiary of the Borrower from such transferee that are converted by the Borrower or such Restricted Subsidiary of the Borrower into cash within 180 days of the receipt thereof (to the extent of the cash received); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) any Designated Non-cash Consideration received by the Borrower or any of its Restricted Subsidiaries in such Asset Sale
having an aggregate Fair Market Value (as determined in good faith by the Borrower), taken together with all other Designated Non-cash Consideration received pursuant to this clause&nbsp;(iii) that is at that time outstanding, not to exceed the
greater of 2.0% of Total Assets and &#128;35,000,000 at </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and without
giving effect to subsequent changes in value), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">shall be deemed to be Cash Equivalents for the purposes of this provision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Within 15 months after the Borrower&#146;s or any Restricted Subsidiary of the Borrower&#146;s receipt of the Net Proceeds of any Asset
Sale, the Borrower or such Restricted Subsidiary of the Borrower may apply the Net Proceeds from such Asset Sale, at its option: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to repay Indebtedness constituting Secured Indebtedness (and, if the Indebtedness repaid is revolving credit Indebtedness,
to correspondingly reduce commitments with respect thereto), repay Pari Passu Indebtedness including any prepayment of the Notes or Indebtedness of a Restricted Subsidiary that is not a Subsidiary Loan Party, in each case other than Indebtedness
owed to the Borrower or an Affiliate of the Borrower; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to make an investment in any one or more businesses
(<I>provided</I> that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Borrower), assets, or property or capital expenditures, in each
case used or useful in a Similar Business; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to make an investment in any one or more businesses (<I>provided</I>
that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Borrower), properties or assets that replace the properties and assets that are
the subject of such Asset Sale. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">In the case of clauses&nbsp;(ii) and (iii) above, a binding commitment shall be treated as
a permitted application of the Net Proceeds from the date of such commitment; <I>provided</I> that in the event such binding commitment is later canceled or terminated for any reason before such Net Proceeds are so applied, the Borrower or such
Restricted Subsidiary enters into another binding commitment within nine months of such cancellation or termination of the prior binding commitment; <I>provided</I>, <I>further</I> that the Borrower or such Restricted Subsidiary may only enter into
such a commitment under the foregoing provision one time with respect to each Asset Sale. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pending the final application of
any such Net Proceeds, the Borrower or such Restricted Subsidiary of the Borrower may temporarily reduce Indebtedness under a revolving credit facility (including Indebtedness hereunder) or otherwise invest such Net Proceeds in any manner not
otherwise prohibited by the terms hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.05 <U>Transactions with Affiliates</U>. The Borrower will not, and will not
permit any of its Restricted Subsidiaries to, directly or indirectly, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend
any transaction or series of transactions, contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Borrower (each of the foregoing, an &#147;<U>Affiliate Transaction</U>&#148;) involving
aggregate consideration in excess of &#128;10,000,000, unless: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) such Affiliate Transaction is on terms that are not materially less
favorable to the Borrower or the relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Borrower or such Restricted Subsidiary with an unrelated Person; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) with respect to any Affiliate Transaction or series of related Affiliate Transactions
involving aggregate consideration in excess of &#128;25,000,000 (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of inventory), the Borrower delivers to the Administrative Agent an
Officer&#146;s Certificate certifying that such Affiliate Transaction complies with clause&nbsp;(a) above; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) with respect to any
Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of &#128;50,000,000 (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of
inventory), the Borrower delivers to the Administrative Agent a resolution adopted in good faith by the majority of the Board of Directors of the Borrower, approving such Affiliate Transaction and set forth in an Officer&#146;s Certificate
certifying that such Affiliate Transaction complies with clause&nbsp;(a) above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The foregoing provisions will not apply to the
following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) transactions between or among the Borrower and/or any of its Restricted Subsidiaries (or an entity that
becomes a Restricted Subsidiary as a result of such transaction) and any merger, consolidation or amalgamation of the Borrower and any direct parent of the Borrower; <I>provided</I> that at the time of such merger, consolidation or amalgamation such
parent shall have no material liabilities and no material assets other than cash, Cash Equivalents and the Capital Stock of the Borrower and such merger, consolidation or amalgamation is otherwise in compliance with the terms of this Agreement and
effected for a bona fide business purpose; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Restricted Payments permitted by Section&nbsp;6.02 and Permitted
Investments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the payment of reasonable and customary fees and reimbursement of expenses paid to, and indemnity
provided on behalf of, officers, directors, employees or consultants of the Borrower or any Restricted Subsidiary or any direct or indirect parent of the Borrower; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) transactions in which the Borrower or any of its Restricted Subsidiaries, as the case may be, delivered to the
Administrative Agent a letter from an Independent Financial Advisor stating that such transaction is fair to the Borrower or such Restricted Subsidiary from a financial point of view or meets the requirements of clause&nbsp;(a) above; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) payments or loans (or cancellation of loans) to directors, officers,
employees or consultants which are approved by a majority of the Board of Directors of the Borrower in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi)
any agreement as in effect as of the Closing Date or any amendment thereto (so long as any such agreement together with all amendments thereto, taken as a whole, is not more disadvantageous to the Lenders in any material respect than the original
agreement as in effect on the Closing Date) or any transaction contemplated thereby as determined in good faith by the Borrower; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the existence of, or the performance by the Borrower or any of its Restricted Subsidiaries of its obligations under the
terms of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the Closing Date, and any transaction, agreement or arrangement in effect on the Closing Date and
described in the Offering Memorandum dated as of April&nbsp;30, 2014 relating to the Notes (or the documents incorporated by reference therein) and, in each case, any amendment thereto or similar transactions, agreements or arrangements which it may
enter into thereafter; <I>provided</I>, <I>however</I>, that the existence of, or the performance by the Borrower or any of its Restricted Subsidiaries of its obligations under, any future amendment to any such existing transaction, agreement or
arrangement or under any similar transaction, agreement or arrangement entered into after the Closing Date shall only be permitted by this clause&nbsp;(vii) to the extent that the terms of any such existing transaction, agreement or arrangement
together with all amendments thereto, taken as a whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to the Lenders in any material respect than the original transaction, agreement or arrangement as in effect
on the Closing Date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) (1) transactions with customers, clients, suppliers or purchasers or sellers of goods or
services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Agreement, which are fair to the Borrower and its
Restricted Subsidiaries in the reasonable determination of the Borrower, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party or (2)&nbsp;transactions with joint ventures or
Unrestricted Subsidiaries entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) any transaction effected as part of a
Factoring Facility or a Qualified Receivables Financing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) the issuance of Equity Interests (other than Disqualified
Stock) of the Borrower to any Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the issuances of securities or other payments, loans (or cancellation of loans)
awards or grants in cash, securities or otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Borrower or any direct or
indirect parent of the Borrower or of a Restricted Subsidiary of the Borrower, as appropriate, in good faith; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) transactions permitted by, and complying with, Section&nbsp;6.07; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) transactions between the Borrower or any of its Restricted Subsidiaries and any Person, a director of which is also a
director of the Borrower; <I>provided</I>, <I>however</I>, that such director abstains from voting as a director of the Borrower or such direct or indirect parent, as the case may be, on any matter involving such other Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) pledges of Equity Interests of Unrestricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the provision to Unrestricted Subsidiaries of cash management, accounting and other overhead services in the ordinary
course of business undertaken in good faith and not for the purpose of circumventing any covenant set forth in this Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) any employment agreements entered into by the Borrower or any of its Restricted Subsidiaries in the ordinary course of
business and any termination of employment agreements and payments in connection therewith at the net present value of future payments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) intercompany transactions undertaken in good faith for the purpose of improving the consolidated tax efficiency of the
Borrower and its Subsidiaries and not for the purpose of circumventing any covenant set forth in this Agreement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii)
(i) payments made to the Borrower or any of its Restricted Subsidiaries by Quiver Ventures, LLC in connection with tax sharing arrangements and (ii)&nbsp;any repayments or reimbursements by the Borrower or any of its Restricted Subsidiaries to
Quiver Ventures, LLC to the extent that amounts paid thereby pursuant to clause (i)&nbsp;are in excess of the ultimate tax liability attributable thereto, in each case consistent with past practice of the Borrower and its Restricted Subsidiaries for
other consolidated groups; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) any agreements or arrangements between a third party and an Affiliate of the Borrower
that are acquired or assumed by the Borrower or any Restricted Subsidiary in connection with an acquisition or merger of such third party (or assets of such third party) by or with the Borrower or any Restricted Subsidiary; provided that
(A)&nbsp;such acquisition or merger is permitted under this Agreement and (B)&nbsp;such agreements or arrangements are not entered into in contemplation of such acquisition or merger or otherwise for the purpose of avoiding the restrictions imposed
by this Section&nbsp;6.05. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.06 <U>Liens</U><U>.</U> The Borrower will not, and will not permit any of its Restricted
Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any Lien on any asset or property of the Borrower or such Restricted Subsidiary securing Indebtedness (including any Lien securing the Notes and any Lien securing Indebtedness
permitted pursuant to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Section&nbsp;6.01(a)), unless the Loan Document Obligations are equally and ratably secured with (or on a senior basis to, in the case of obligations subordinated in right of payment to such Loan
Document Obligations) the obligations so secured until such time as such obligations are no longer secured by a Lien. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The preceding
paragraph will not require the Borrower or any Restricted Subsidiary of the Borrower to secure the Loan Document Obligations if the Lien consists of a Permitted Lien. Any Lien which is granted to secure the Loan Document Obligations under the
preceding paragraph shall be automatically released and discharged at the same time as the release of the Lien that gave rise to the obligation to secure the Loan Document Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.07 <U>Merger, Amalgamation, Consolidation or Sale of All or Substantially All Assets</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower may not, directly or indirectly, consolidate, amalgamate or merge with or into or wind up or convert into (whether or not the
Borrower is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions, to any Person unless: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Borrower is the surviving Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the
Borrower or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Borrower or such Restricted Subsidiary at the time of such transaction), no Default shall have occurred and be continuing; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) immediately after giving pro forma effect to such transaction, as if such transaction had occurred at the beginning of
the applicable four-quarter period (and treating any Indebtedness which becomes an obligation of the Borrower or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Borrower or such Restricted Subsidiary
at the time of such transaction), either: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the Borrower would be permitted to Incur at least $1.00 of additional
Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;6.01(a); or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Fixed Charge
Coverage Ratio for the Borrower and its Restricted Subsidiaries would be equal to or greater than such ratio for the Borrower and its Restricted Subsidiaries immediately prior to such transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing clauses (ii)&nbsp;and (iii), any Restricted Subsidiary may merge, consolidate or amalgamate with or transfer all
or part of its properties and assets to the Borrower or to another Restricted Subsidiary. This Section&nbsp;6.07 will not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Borrower and its
Restricted Subsidiaries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) No Subsidiary Loan Party will, and the Borrower will not permit any Subsidiary Loan Party to,
consolidate, amalgamate or merge with or into or wind up into (whether or not such Subsidiary Loan Party is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets
in one or more related transactions to, any Person unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) either (a)&nbsp;such Subsidiary Loan Party is the surviving
Person or the Person formed by or surviving any such consolidation, amalgamation or merger (if other than such Subsidiary Loan Party) or to which such sale, assignment, transfer, lease, conveyance or other disposition will have been made is a
corporation, partnership or limited liability company or other person organized or existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory
thereof (such Subsidiary Loan Party or such Person, as the case may be, being herein called the &#147;<U>Successor Subsidiary Loan Party</U>&#148;) and the Successor Subsidiary Loan Party (if other than such Subsidiary Loan Party) expressly assumes
all the obligations of such Subsidiary Loan Party the Guarantee Agreement pursuant to a supplement thereto or other documents or instruments in form reasonably satisfactory to the Administrative Agent, or (b)&nbsp;such sale or disposition or
consolidation, amalgamation or merger is not in violation of Section&nbsp;6.04; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the case of clause (i)(a) above,
the Successor Subsidiary Loan Party (if other than such Subsidiary Loan Party) shall have delivered or caused to be delivered to the Administrative Agent an Officer&#146;s Certificate stating that such consolidation, amalgamation, merger or transfer
and such supplement hereto or thereto or such other documentation (if any) comply with the Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Successor Subsidiary Loan
Party (if other than such Subsidiary Loan Party) will succeed to, and be substituted for, such Subsidiary Loan Party under the Guarantee Agreement, and such Subsidiary Loan Party will automatically be released and discharged from its obligations
under the Guarantee Agreement. Notwithstanding the foregoing, (1)&nbsp;a Subsidiary Loan Party may merge, amalgamate or consolidate with an Affiliate incorporated solely for the purpose of reincorporating such Subsidiary Loan Party in any country in
the European Union, Switzerland, the United States, or a state of the United States, the District of Columbia or any territory of the United States or the Netherlands so long as the amount of Indebtedness of the Subsidiary Loan Party is not
increased thereby and (2)&nbsp;a Subsidiary Loan Party may merge, amalgamate or consolidate with another Subsidiary Loan Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) In
addition, notwithstanding the foregoing, any Subsidiary Loan Party may consolidate, amalgamate or merge with or into or wind up into, or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or
assets (collectively, a &#147;<U>Transfer</U>&#148;) to (x)&nbsp;the Borrower or any Subsidiary Loan Party or (y)&nbsp;any Restricted Subsidiary of the Borrower that is not a Subsidiary Loan Party; <I>provided</I> that at the time of each such
Transfer pursuant to clause&nbsp;(y) the aggregate amount of all such Transfers since the Closing Date shall not exceed 5.0% of the consolidated assets of the Borrower and the Subsidiary Loan Parties as shown on the most recent available balance
sheet of the Borrower and the Restricted Subsidiaries after giving effect to each such Transfer and including all Transfers occurring from and after the Closing Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.08 <U>Consolidated Net Debt Ratio</U><U>.</U> The Borrower shall not permit the
Consolidated Net Debt Ratio as of the last day of any fiscal quarter (beginning with the fiscal quarter ending September&nbsp;30, 2014), solely to the extent Loans are outstanding on such date to be greater than 2.50 to 1.00. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;6.09 <U>Fixed Charge Coverage Ratio.</U> The Borrower shall not permit the Fixed Charge Coverage Ratio as of the last day of any
fiscal quarter (beginning with the fiscal quarter ending September&nbsp;30, 2014), solely to the extent Loans are outstanding on such date to be less than 3.50 to 1.00. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;VII. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EVENTS OF
DEFAULT </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.01 <U>Events of Default</U>. If any of the following events (any such event, an &#147;<U>Event of
Default</U>&#148;) shall occur: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any Loan Party shall fail to pay any principal of any Loan when the same shall become due and
payable, whether at the due date thereof or otherwise; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any Loan Party shall fail to pay any interest on any Loan or any fee or any
other amount (other than an amount referred to in paragraph&nbsp;(a) of this Section) payable under any Loan Document, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) any representation or warranty made or deemed made by or on behalf of the Borrower or any of its Restricted Subsidiaries in or in
connection with any Loan Document or any amendment or modification thereof or waiver thereunder, or in any certificate furnished pursuant to or in connection with any Loan Document or any amendment or modification thereof or waiver thereunder, shall
prove to have been incorrect in any material respect when made or deemed made, unless the circumstances giving rise to such misrepresentation are capable of remedy and are remedied within 30 days of the Administrative Agent giving written notice
thereof to the Borrower; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Borrower or any of its Restricted Subsidiaries shall fail to observe or perform any covenant, condition
or agreement contained in Section&nbsp;5.01, Section&nbsp;5.02(a) (with respect to the Borrower only), Section 5.05(a), Section 5.09, or Section&nbsp;5.11 or Article&nbsp;VI; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the Borrower or any of its Restricted Subsidiaries shall fail to observe or perform any covenant, condition or agreement contained in any
Loan Document (other than those specified in paragraph&nbsp;(a), (b) or (d) of this Section), and such failure shall continue unremedied for a period of 30&nbsp;days after notice thereof from the Administrative Agent to the Borrower; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) (i) the Borrower or any of its Restricted Subsidiaries shall&nbsp;fail to make any payment
(whether of principal or interest and regardless of amount) in respect of any Indebtedness, when and as the same shall become due and payable (after giving effect to any applicable grace period) (a &#147;<U>Cross Payment Default</U>&#148;) or
(ii)&nbsp;any event or condition occurs that results in any Indebtedness becoming due prior to its scheduled maturity or that enables or permits (with all applicable grace periods having expired) the holder or holders of any Indebtedness or any
trustee or agent on its or their behalf to cause any Indebtedness to become due, or to require the prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity (a &#147;<U>Cross Default</U>&#148;) and, in each case, the
principal amount of any such Indebtedness, together with the principal amount of any other such Indebtedness under which there has been a Cross Payment Default or a Cross Default, aggregates &#128;50,000,000 (or its foreign currency equivalent) or
more, <U>provided</U> that this paragraph&nbsp;(f)(ii) shall not apply to (i)&nbsp;secured Indebtedness that becomes due as a result of the sale, transfer or other disposition (including as a result of a casualty or condemnation event) of the
property or assets securing such Indebtedness (to the extent such sale, transfer or other disposition is not prohibited under this Agreement) or (ii)&nbsp;events of default, termination events or any other similar event under the documents governing
Swap Agreements for so long as such event of default, termination event or other similar event does not result in the occurrence of an early termination date or any acceleration or prepayment of any amounts or other Indebtedness payable thereunder;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) an involuntary proceeding shall be commenced or an involuntary petition shall be filed in a court of competent jurisdiction seeking
(i)&nbsp;relief in respect of the Borrower or any Material Subsidiary, or of a substantial part of the property or assets of the Borrower or any Material Subsidiary, under any Debtor Relief Law, (ii)&nbsp;the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for the Borrower or any Material Subsidiary or for a substantial part of the property or assets of the Borrower or any Material Subsidiary, (iii)&nbsp;the
<FONT STYLE="white-space:nowrap">winding-up</FONT> or liquidation of the Borrower or any Material Subsidiary (except, in the case of any Material Subsidiary, in a transaction permitted by Section&nbsp;6.07); and such appointment, proceeding or
petition shall continue undismissed, in the case of a U.S. Subsidiary, for 60 days, or in the case of a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Subsidiary, 15 days, or an order or decree approving or ordering any of the foregoing shall be
entered, (iv)&nbsp;in the case of a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Subsidiary that is a Material Subsidiary having its centre of main interests in Germany, such <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Subsidiary is unable
to pay its debts as they fall due (<I>zahlungsunf&auml;hig</I>) within the meaning of section&nbsp;17 of the German Insolvency Code (<I>Insolvenzordnung</I>) or becomes over-indebted (<I>&uuml;berschuldet</I>) within the meaning of Section&nbsp;19
of the German Insolvency Code (<I>Insolvenzordnung</I>), or (v)&nbsp;in the case of a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Subsidiary that is a Material Subsidiary having its centre of main interests in France, a deliberation of the
board of directors, supervisory board or shareholders, as applicable, in accordance with <FONT STYLE="white-space:nowrap">Articles&nbsp;L.234-1</FONT> paragraph&nbsp;3 <I>et seq</I>. or <FONT STYLE="white-space:nowrap">L.234-2</FONT>
paragraph&nbsp;2 <I>et seq</I>. of the French Commercial Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) the Borrower or any Material Subsidiary shall (i)&nbsp;voluntarily
commence any proceeding or file any petition seeking relief under any Debtor Relief Law, (ii)&nbsp;consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or the filing of any petition described in
paragraph&nbsp;(g), (iii)&nbsp;apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Material Subsidiary or for a substantial part of the property or assets
of the Borrower or any Material Subsidiary, (iv)&nbsp;file an answer admitting the material allegations of a petition filed </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
against it in any such proceeding, (v)&nbsp;make a general assignment for the benefit of creditors, (vi)&nbsp;becomes unable generally to pay its debts as they become due or (vii)&nbsp;be in
<I>cessation des paiements</I> pursuant to <FONT STYLE="white-space:nowrap">Article&nbsp;L.631-1</FONT> of the French Commercial Code; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) the failure by the Borrower or any Subsidiary Loan Party or any Material Subsidiary to pay one or more final judgments aggregating in
excess of &#128;50,000,000 (or its foreign currency equivalent) (to the extent not covered by insurance, or if covered by insurance, to the extent to which the insurer has denied coverage in writing), which judgments are not discharged or
effectively waived or stayed for a period of 60 consecutive days, or any action shall be legally taken by a judgment creditor to levy upon assets or properties of the Borrower or any Subsidiary to enforce any such judgment; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) (i) an ERISA Event (or similar event with respect to any <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan) occurs that has resulted
or could reasonably be expected to result in liability of any Loan Party in an aggregate amount that could reasonably be expected to result in a Material Adverse Effect, (ii)&nbsp;any Loan Party or any ERISA Affiliate fails to pay when due, after
the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section&nbsp;4201 of ERISA under a Multiemployer Plan in an aggregate amount that could reasonably be expected to result in a
Material Adverse Effect, (iii)&nbsp;the failure by the Borrower to ensure that (a)&nbsp;all pension schemes that are <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plans are fully funded,&nbsp;or, if applicable, sufficient reserves have been made,
in line with applicable statutory requirements, or (b)&nbsp;all mandatory contributions to the statutory pension insolvency insurance, the pensions of pensioners and increases in the pensions of the pensioners as required by any such <FONT
STYLE="white-space:nowrap">Non-U.S.</FONT> Plan and by applicable statute in respect of any such <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Plan are paid in full and without suspensions when due, in each case, which failure has resulted or
could reasonably be expected to result in a Material Adverse Effect, (iv)&nbsp;the failure by the Borrower to ensure that, other than with respect to the UK DB Plan, the Borrower and each of its Subsidiaries is not (a)&nbsp;an employer (for the
purposes of Sections&nbsp;38 to 51 of the Pensions Act 2004) of an &#147;occupational pension scheme&#148; that is not a &#147;money purchase scheme&#148; (both terms as defined in the Pension Schemes Act 1993) or (b)&nbsp;&#147;connected&#148; with
or an &#147;associate&#148; of (as those terms are used in Sections&nbsp;38 or 43 of the Pensions Act 2004) such an employer, in each case, which failure has resulted or could reasonably be expected to result in a Material Adverse Effect, or
(vi)&nbsp;the Pensions Regulator issues a Financial Support Direction or a Contribution Notice to the Borrower or any of its Subsidiaries that has resulted or could reasonably be expected to result in liability of the Borrower or such Subsidiary in
an aggregate amount that could reasonably be expected to result in a Material Adverse Effect; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) any material provision of any Loan
Document or any Guarantee of the Loan Document Obligations shall for any reason be asserted in writing by any Loan Party not to be a legal, valid and binding obligation of any Loan Party thereto other than as expressly permitted hereunder or
thereunder; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) any material portion of the Guarantees of the Loan Document Obligations pursuant to the Guarantee Agreement shall cease
to be in full force and effect (in each case, other than in accordance with the terms of the Loan Documents); or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) a Change in Control
shall occur; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">then, and in every such event and at any time thereafter during the continuance of such event, the Administrative
Agent may with the consent of the Required Lenders, and at the request of the Required Lenders, shall, by notice to the Borrower, take either or both of the following actions, at the same or different times: (i)&nbsp;terminate the Commitments, and
thereupon the Commitments shall terminate immediately, and (ii)&nbsp;declare the Loans then outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be
due and payable), and thereupon the principal of the Loans so declared to be due and payable, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable immediately,
without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. Notwithstanding the foregoing, in the event of any event described in paragraphs&nbsp;(g) or (h) of this Section with respect to a U.S.
Loan Party or any proceeding under any U.S. Federal Debtor Relief Law involving a <FONT STYLE="white-space:nowrap">Non-U.S.</FONT> Loan Party, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together
with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall automatically become due and payable, without presentment, demand, protest of other notices of any kind, all of which are hereby waived by the
Borrower. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;7.02 <U>Application of Proceeds.</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Administrative Agent shall apply the proceeds from any enforcement of the Guarantees contained in the Guarantee Agreement as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) FIRST, to the payment of all costs and expenses incurred by the Administrative Agent in connection with such enforcement, collection or
sale or otherwise in connection with the Loan Documents or any of the Loan Document Obligations, including all court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made by the Administrative Agent
hereunder or under any other Loan Document on behalf of any Loan Party and any other costs or expenses incurred in connection with the exercise of any right or under any Loan Document and all Administrative Agent&#146;s fees; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) SECOND, to the payment in full of the Loan Document Obligations (the amounts so applied to be distributed among the Lenders, the
Administrative Agent and the beneficiaries of each indemnification obligation undertaken by any Loan Party under any Loan Document (and the permitted successors and assigns of each of the forgoing) pro rata in accordance with the amounts of the Loan
Document Obligations owed to them on the date of any such distribution); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) THIRD, to the Loan Parties, their successors or assigns,
or as a court of competent jurisdiction may otherwise direct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Administrative Agent shall have absolute discretion as to the time
of application of any such proceeds, moneys or balances in accordance with this Agreement. The Administrative Agent shall have no liability to any of the Lenders and the beneficiaries of each indemnification obligation undertaken by any Loan Party
under any Loan Document (and the permitted successors and assigns of each of the forgoing) for actions taken in reliance on information supplied to it as to the amounts of unpaid principal and interest and other amounts outstanding with respect to
the Secured Obligations </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;VIII. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ADMINISTRATIVE AGENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.01 <U>Appointment and Authority</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each of the Lenders hereby irrevocably appoints Deutsche Bank AG New York Branch to act on its behalf as the Administrative Agent hereunder
and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and
powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have rights as third party beneficiaries of any of such provisions (except
as expressly set forth in this Article). Each of the Lenders hereby relieves the Administrative Agent to the extent possible from any restrictions on representing several persons and self-dealing applicable to it under any applicable law, in
particular pursuant to Section&nbsp;181 of the German Civil Code (<I>B&uuml;rgerliches Gesetzbuch</I>). The Administrative Agent shall have the authority to sub-delegate the power granted hereunder in accordance with this Agreement and to grant an
exemption from the restrictions imposed by such code provision to any sub-delegate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.02 <U>Rights as a Lender</U>. The
Person serving as the Administrative Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term &#147;Lender&#148; or
&#147;Lenders&#148; shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits
from, lend money to, act as the financial advisor or in any other advisory capacity for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent
hereunder and without any duty to account therefor to the Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.03 <U>Exculpatory Provisions</U>. The Administrative
Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby or by the other Loan Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for
herein or in the other Loan Documents); <U>provided</U> that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary
to any Loan Document or applicable law; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) shall not, except as expressly set forth herein and in the other Loan Documents, have any
duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates
in any capacity; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) shall not be liable for any action taken or not taken by it (i)&nbsp;with the consent or at the request of the
Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as provided in Section&nbsp;9.02 and in the last
paragraph of Section&nbsp;7.01) or (ii)&nbsp;in the absence of its own gross negligence or willful misconduct; <U>provided</U> that the Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice describing such
Default is given to the Administrative Agent by the Borrower or a Lender; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) shall not be responsible for or have any duty to ascertain
or inquire into (i)&nbsp;any statement, warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii)&nbsp;the contents of any certificate, report or other document delivered hereunder or thereunder or in
connection herewith or therewith, (iii)&nbsp;the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv)&nbsp;the validity, enforceability,
effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or (v)&nbsp;the satisfaction of any condition set forth in Article&nbsp;IV or elsewhere herein, other than to confirm receipt of
items expressly required to be delivered to the Administrative Agent; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) shall not be required to carry out any &#147;know your
customer&#148; or other checks in relation to any Person on behalf of any Lender and each Lender confirms to the Administrative Agent that it is solely responsible for any such checks it is required to carry out and that it may not rely on any
statement in relation to such checks made by the Administrative Agent or any of its Related Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.04 <U>Reliance by
Administrative Agent</U>. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any
electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement
made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must
be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of
such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with
the advice of any such counsel, accountants or experts. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.05 <U>Delegation of Duties</U>. The Administrative Agent may perform any and all
of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of
its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and such sub-agent, and
shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. In addition, any expense reimbursement and indemnity provisions set forth
herein or in any other Loan Document shall apply to any such sub-agent and to its Related Parties in connection with the performance of the obligations of such sub-agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.06 <U>Resignation of Administrative Agent</U>. The Administrative Agent may resign at any time upon 30 days&#146; notice to the
Lenders and the Borrower, subject to the appointment of a successor. If the Administrative Agent (or an Affiliate thereof) becomes a Defaulting Lender and is not performing its role hereunder as Administrative Agent, the Administrative Agent may be
removed as the Administrative Agent hereunder at the request of the Borrower or the Required Lenders upon 10 days&#146; notice to the Administrative Agent, subject to the appointment of a successor. Upon receipt of any such notice of resignation or
upon such removal, the Required Lenders shall have the right, with the Borrower&#146;s consent (such consent not to be unreasonably withheld or delayed if such successor is a commercial bank with a combined capital and surplus of at least &#128;1.0
billion) (<U>provided</U> that no consent of the Borrower shall be required if an Event of Default under Section&nbsp;7.01(a), (b), (g) or (h) has occurred and is continuing), to appoint a successor. If no such successor shall have been so appointed
by the Required Lenders and shall have accepted such appointment within 30&nbsp;days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders (and with the consent
of the Borrower, unless an Event of Default under Section&nbsp;7.01(a), (b), (g) or (h) has occurred and is continuing), appoint a successor Administrative Agent, which shall be an Approved Bank, or any Affiliate of any such Approved Bank;
<U>provided</U> that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment within such 30 day period, then such resignation shall nonetheless become effective in accordance with
such notice and (a)&nbsp;the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents and (b)&nbsp;all payments, communications and determinations provided to be made by, to or
through the Administrative Agent shall instead be made by or to each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor&#146;s
appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be
discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the
same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent&#146;s resignation hereunder and under the other </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Loan Documents, the provisions of this Article and Section&nbsp;9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related
Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.07 <U>Non-Reliance on Administrative Agent and Other Lenders</U>. Each Lender acknowledges that it has, independently and
without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each
Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties based on such documents and information as it shall from time to time deem appropriate, which
may include, in each case: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the financial condition, status and capitalization of the Borrower and each other Loan Party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the legality, validity, effectiveness, adequacy or enforceability of this Agreement and each other Loan Document and any other agreement,
arrangement or document entered into, made or executed in anticipation of, under or in connection with any Loan Document; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) determining
compliance or non-compliance with any condition hereunder to the making of a Loan and the form and substance of all evidence delivered in connection with establishing the satisfaction of each such condition; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the adequacy, accuracy and/or completeness of any information delivered by the Administrative Agent, any other Lender or by any of their
respective Related Parties under or in connection with this Agreement or any other Loan Document, the transactions contemplated hereby and thereby or any other agreement, arrangement or document entered into, made or executed in anticipation of,
under or in connection with any Loan Document, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.08 <U>No Other Duties, Etc.</U> Anything herein to the contrary notwithstanding, neither any Joint Lead Arranger, Joint
Bookrunner, nor any person named on the cover page hereof as a <FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agent or a <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agent shall have any powers, duties, responsibilities or
liabilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent or a Lender hereunder but all such parties shall be entitled to the benefits of this Article&nbsp;VIII. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.09 <U>Administrative Agent May File Proofs of Claim</U>. In case of the pendency of any proceeding under any Debtor Relief Law
or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of whether the
Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans and all other Loan
Document Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders and the Administrative Agent (including any claim for the reasonable compensation, expenses,
disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Section&nbsp;2.09 and Section&nbsp;9.03) allowed in such judicial
proceeding; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the
same; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such
judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, if the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the Administrative Agent any
amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Section&nbsp;2.09 and Section 9.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt on behalf of any
Lender any plan of reorganization, arrangement, adjustment or composition affecting the Loan Document Obligations or the rights of any Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such proceeding.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;8.10 <U>No Waiver; Cumulative Remedies; Enforcement</U>. No failure by any Lender or the Administrative Agent to exercise,
and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not
exclusive of any rights, remedies, powers and privileges provided by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary contained herein or in
any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such
enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Article&nbsp;VII for the benefit of all the Lenders. Each Lender agrees that it shall not take or institute any actions or proceedings,
judicial or otherwise, for any right or remedy against any Loan Party or any other obligor under any of the Loan Documents (including, without limitation, the filing of any involuntary bankruptcy proceeding or similar proceeding, or the exercise of
any right of setoff, rights on account of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
banker&#146;s lien or similar claim or other rights of self-help), unless expressly provided for herein or in any other Loan Document, without the prior written consent of the Administrative
Agent (acting at the direction of Required Lenders). The foregoing shall not, however, prohibit (a)&nbsp;the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as
Administrative Agent) hereunder and under the other Loan Documents, (b)&nbsp;any Lender from exercising setoff rights in accordance with Section&nbsp;9.09 (subject to the terms of Section&nbsp;2.15), or (c)&nbsp;any Lender from filing proofs of
claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Loan Party under any Debtor Relief Law; and <U>provided</U>, <U>further</U>, that if at any time there is no Person acting as
Administrative Agent hereunder and under the other Loan Documents, then (i)&nbsp;the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Article&nbsp;VII and (ii)&nbsp;in addition to the matters set
forth in clauses&nbsp;(b) and (c)&nbsp;and of the preceding proviso and subject to Section&nbsp;2.15, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the Required
Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To the extent required by any applicable law, the Administrative Agent may deduct or withhold from any payment to any Lender an
amount equivalent to any applicable withholding Tax. If any payment has been made to any Lender by the Administrative Agent without the applicable withholding Tax being withheld from such payment and the Administrative Agent has paid over the
applicable withholding Tax to the relevant Governmental Authority, or any Governmental Authority asserts a claim that the Administrative Agent did not properly withhold Tax from amounts paid to or for the account of any Lender for any reason
(including, without limitation, because the appropriate form was not delivered or not property executed, or because such Lender failed to notify the Administrative Agent of a change in circumstance that rendered the exemption from, or reduction of
withholding Tax ineffective, or for any other reason), such Lender shall indemnify and hold harmless the Administrative Agent (to the extent that the Administrative Agent has not already been reimbursed by the Borrower pursuant to Section&nbsp;2.14
and without limiting any obligation of the Borrower to do so pursuant to such Section) fully for all amounts paid, directly or indirectly, by the Administrative Agent as Taxes or otherwise, together with all expenses incurred, including legal
expenses and any other out-of-pocket expenses, whether or not such Tax was correctly or legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the
Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under this Agreement or any other Loan Document against
any amount due to the Administrative Agent under this Article&nbsp;VIII. The agreements in this Article&nbsp;VIII shall survive the resignation and/or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a
Lender, the termination of this Agreement and the repayment, satisfaction or discharge of all other obligations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE&nbsp;IX. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MISCELLANEOUS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.01
<U>Notices</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Except in the case of notices and other communications expressly permitted to be given by telephone, all notices and
other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax or other electronic transmission, as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) if to the Borrower, or the Administrative Agent, to the address, fax number, email address or telephone number specified
for such Person on Schedule&nbsp;9.01; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) if to any other Lender, to it at its address (or fax number, telephone
number or email address) set forth in its Administrative Questionnaire (including, as appropriate, notices delivered solely to the Person designated by a Lender on its Administrative Questionnaire then in effect for the delivery of notices that may
contain MNPI). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail,
shall be deemed to have been given when received; notices and other communications sent by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been
given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection&nbsp;(b) below shall be effective as provided in such
subsection&nbsp;(b). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Electronic Communications</U>. Notices and other communications to the Lenders hereunder may be delivered or
furnished by electronic communication (including <FONT STYLE="white-space:nowrap">e-mail</FONT> and Internet or intranet websites) pursuant to procedures reasonably approved by the Administrative Agent, <U>provided</U> that the foregoing shall not
apply to notices to any Lender pursuant to Article&nbsp;II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Unless the Administrative Agent otherwise prescribes, (i)&nbsp;notices and other communications sent to an
<FONT STYLE="white-space:nowrap">e-mail</FONT> address shall be deemed received upon the sender&#146;s receipt of an acknowledgement from the intended recipient (such as by the &#147;return receipt requested&#148; function, as available, return <FONT
STYLE="white-space:nowrap">e-mail</FONT> or other written acknowledgement), <U>provided</U> that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to
have been sent at the opening of business on the next Business Day for the recipient, and (ii)&nbsp;notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its
<FONT STYLE="white-space:nowrap">e-mail</FONT> address as described in the foregoing clause&nbsp;(i) of notification that such notice or communication is available and identifying the website address therefor. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>The Platform</U>. THE PLATFORM IS PROVIDED &#147;AS IS&#148; AND &#147;AS AVAILABLE.&#148;
THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY
KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE
BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent, the Joint Lead Arrangers, the Joint Bookrunners, the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the
<FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents (together with the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the &#147;<U>Agents</U>&#148;) or any of their respective Related Parties (collectively, the
&#147;<U>Agent Parties</U>&#148;) have any liability to the Borrower, any Lender, any of their respective Affiliates or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Borrower&#146;s or the Administrative Agent&#146;s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by a final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; <U>provided</U>, <U>however</U>, that in no event shall any Agent Party have any liability to the Borrower, any
Lender, any of their respective Affiliates or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Change of Address, Etc</U>. The Borrower, and the Administrative Agent may change its address, electronic mail address, fax or
telephone number for notices and other communications or website hereunder by notice to the other parties hereto. Each other Lender may change its address, fax or telephone number for notices and other communications hereunder by notice to the
Borrower and the Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i)&nbsp;an effective address, contact name, telephone number, fax
number and electronic mail address to which notices and other communications may be sent and (ii)&nbsp;accurate wire instructions for such Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Reliance by Administrative Agent and Lenders</U>. The Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices purportedly given by or on behalf of either Borrower even if (i)&nbsp;such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii)&nbsp;the
terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, each Lender and the Related Parties from all losses, costs, expenses and liabilities resulting from the
reliance by such Person on each notice purportedly given by or on behalf of the Borrower in the absence of gross negligence or willful misconduct as determined in a final and non-appealable judgment by a court of competent jurisdiction. All
telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent and each of the parties hereto hereby consents to such recording. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.02 <U>Waivers; Amendments</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) No failure or delay by the Administrative Agent or any Lender in exercising any right or power under this Agreement or any Loan Document
shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of
any provision of this Agreement or any Loan Document or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph&nbsp;(b) of this Section, and then such waiver or consent
shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative
Agent or any Lender may have had notice or knowledge of such Default at the time. No notice or demand on the Borrower in any case shall entitle the Borrower to any other or further notice or demand in similar or other circumstances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Except as provided in Section&nbsp;2.17 with respect to any Incremental Facility Amendment, neither this Agreement, any Loan Document nor
any provision hereof or thereof may be waived, amended or modified except, in the case of this Agreement, pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or, in the case of any other Loan
Document, pursuant to an agreement or agreements in writing entered into by the Administrative Agent and the Loan Party or Loan Parties that are parties thereto, in each case with the consent of the Required Lenders, <U>provided</U> that no such
agreement shall: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) increase the Commitment of any Lender without the written consent of such Lender (it being understood
that a waiver of any condition precedent set forth in Article&nbsp;IV or the waiver of any Default, mandatory prepayment or mandatory reduction of the Commitments shall not constitute an extension or increase of any Commitment of any Lender); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) reduce the principal amount of any Loan or reduce the rate of interest thereon, or reduce any fees payable hereunder,
without the written consent of each Lender directly and adversely affected thereby; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) postpone the maturity of any
Loan or any date for the payment of any interest or fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender
directly and adversely affected thereby; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) change Section&nbsp;2.15(b) in a manner that would alter the pro rata
sharing of payments required thereby, without the written consent of each Lender directly and adversely affected thereby; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) change any of the provisions of this Section&nbsp;9.02 without the written consent of each Lender directly and adversely
affected thereby; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">113 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) change the percentage set forth in the definition of &#147;Required
Lenders&#148; or any other provision of any Loan Document specifying the number or percentage of Lenders required to waive, amend or modify any rights thereunder or make any determination or grant any consent thereunder, without the written consent
of each Lender; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) release all or substantially all the value of the Guarantees under the Guarantee Agreement (except
as expressly provided in the Guarantee Agreement) without the written consent of each Lender; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) subordinate the Loan
Document Obligations or change the currency of any such Loan Document Obligations, without the written consent of each Lender directly and adversely affected thereby; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) change Section&nbsp;9.04 in a manner that would impose any additional restriction on any Lender&#146;s ability to assign
all or a portion of its rights and obligations under this Agreement, without the written consent of each Lender directly and adversely affected thereby; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U> <U>further</U> that (A)&nbsp;no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent
without the prior written consent of the Administrative Agent and (B)&nbsp;any provision of this Agreement or any other Loan Document may be amended by an agreement in writing entered into by the Borrower and the Administrative Agent to cure any
ambiguity, omission, error, defect or inconsistency so long as, in each case, the Lenders shall have received at least five Business Days&#146; prior written notice thereof and the Administrative Agent shall not have received, within five Business
Days of the date of such notice to the Lenders, a written notice from the Required Lenders stating that the Required Lenders object to such amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) In connection with any proposed amendment, modification, waiver or termination (a &#147;<U>Proposed Change</U>&#148;) requiring the
consent of all Lenders or all affected Lenders, if the consent of the Required Lenders to such Proposed Change is obtained, but the consent to such Proposed Change of other Lenders whose consent is required is not obtained (any such Lender whose
consent is not obtained as described in paragraph&nbsp;(b) of this Section being referred to as a &#147;<U>Non-Consenting Lender</U>&#148;), then the Borrower may, at its sole expense and effort, upon notice to such Non-Consenting Lender and the
Administrative Agent, require such Non-Consenting Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section&nbsp;9.04), all its interests, rights and obligations under this Agreement to
an Eligible Assignee that shall assume such obligations (which Eligible Assignee may be another Lender, if a Lender accepts such assignment), <U>provided</U> that (a)&nbsp;the Borrower shall have received the prior written consent of the
Administrative Agent to the extent such consent would be required under Section&nbsp;9.04(b) for an assignment of Loans or Commitments, as applicable, which consent shall not unreasonably be withheld, (b)&nbsp;such Non-Consenting Lender shall have
received payment of an amount equal to the outstanding par principal amount of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder (including pursuant to Section&nbsp;2.08(a)) from the Eligible Assignee
(to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts) and (c)&nbsp;unless waived, the Borrower or such Eligible Assignee shall have paid to the Administrative Agent the
processing and recordation fee specified in Section&nbsp;9.04. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">114 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding anything in this Agreement or the other Loan Documents to the contrary, the
Loans of any Lender that is at the time a Defaulting Lender shall not have any voting or approval rights under the Loan Documents and shall be excluded in determining whether all Lenders, all affected Lenders, or the Required Lenders have taken or
may take any action hereunder (including any consent to any amendment or waiver pursuant to this Section&nbsp;9.02); <U>provided</U> that (x)&nbsp;the Commitment of any Defaulting Lender may not be increased or extended without the consent of such
Lender and (y)&nbsp;any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender that affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.03 <U>Expenses; Indemnity; Damage Waiver</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower shall pay, if the Closing Date occurs, (i)&nbsp;all reasonable and documented or invoiced out-of-pocket costs and expenses
incurred by the Administrative Agent, the Joint Lead Arrangers, the Joint Bookrunners, the other Agents and their respective Affiliates (without duplication), including the reasonable fees, charges and disbursements of counsel (limited to one
primary counsel for all such Persons, one local counsel in each applicable jurisdiction (exclusive of any reasonably necessary specialist counsel) and in the case of any actual or reasonably perceived conflict of interest, one additional counsel per
affected party), in connection with the syndication of the credit facilities provided for herein, and the preparation, execution, delivery and administration of the Loan Documents or any amendments, modifications or waivers of the provisions
thereof, and (ii)&nbsp;all invoiced out-of-pocket expenses incurred by the Administrative Agent or any Lender, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent and the Lenders in connection with the
enforcement or protection of any rights or remedies, including all such out-of-pocket costs and expenses incurred during any workout, restructuring or negotiations in respect of such Loans (A)&nbsp;in connection with the Loan Documents (including
all such costs and expenses incurred during any legal proceeding, including any proceeding under any Debtor Relief Laws), including its rights under this Section or (B)&nbsp;in connection with the Loans made hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Borrower shall indemnify the Administrative Agent, each Lender, the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents,
the <FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents, the Joint Lead Arrangers, the Joint Bookrunners and each Related Party of any of the foregoing Persons (each such Person being called an &#147;<U>Indemnitee</U>&#148;) against, and
hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and reasonable and documented out-of-pocket fees and expenses of any counsel (limited to one primary counsel for all Indemnitees, one local counsel in each
applicable jurisdiction (exclusive of any reasonably necessary specialist counsel) and in the case of any actual or reasonably perceived conflict of interest, one additional counsel per affected party) for any Indemnitee, incurred by or asserted
against any Indemnitee by any third party or by the Borrower, or any Subsidiary arising out of any claim, actions, suits, inquiries, litigation, investigation or proceeding in connection with, or as a result of (i)&nbsp;the execution or delivery of
this Agreement, any Loan Document or any other agreement or instrument contemplated hereby or thereby, the performance by the parties to the Loan Documents of their respective obligations thereunder or the consummation of the Transactions or any
other transactions contemplated </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">115 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
thereby, (ii)&nbsp;any Loan or the use of the proceeds therefrom or (iii)&nbsp;to the extent in any way arising from or relating to any of the foregoing, any actual or alleged presence, Release
or threat of Release of Hazardous Materials on, at, to or from any property currently or formerly owned, leased or operated by the Borrower or any Subsidiary, or any other Environmental Liability related in any way to the Borrower or any Subsidiary;
in each case, whether based on contract, tort or any other theory, and regardless of whether such matter is brought by a third party or by the Borrower or any Subsidiary or any of their respective Affiliates and regardless of whether any Indemnitee
is a party thereto; provided that such indemnity shall not, as to any Indemnitee, apply to (i)&nbsp;the extent that such losses, claims, damages, liabilities, costs or related expenses are determined by a court of competent jurisdiction in a final
and non-appealable judgment to have resulted from (x)&nbsp;the gross negligence, bad faith or willful misconduct of such Indemnitee or such Indemnitee&#146;s Affiliates or any or its or their respective officers, directors, employees, controlling
persons or members, (y)&nbsp;a material breach of a funding obligation under the Loan Documents by such Indemnitee or (z)&nbsp;any claim, action, suit, inquiry, litigation, investigation or proceeding that does not involve an act or omission of the
Borrower or any of its Affiliates and that is brought by an Indemnitee against any other Indemnitee (other than any claim, action, suit, inquiry, litigation, investigation or proceeding against the Administrative Agent, any other Agent Party or any
Joint Lead Arranger or Joint Bookrunner in its capacity as such), or (ii)&nbsp;any settlement entered into by such Indemnitee without the Borrower&#146;s written consent (such consent not to be unreasonably withheld); <I>provided</I>, however, that
the foregoing indemnity will apply to any such settlement in the event that the Borrower was offered the ability to assume the defense of the action that was the subject matter of such settlement and elected not to assume such defense. This
Section&nbsp;9.03(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) To the extent that the Borrower fails to pay any amount required to be paid by it to the Administrative Agent (or any sub-agent thereof),
any Agent Party or any Related Party of any of the foregoing under paragraph&nbsp;(a) or (b) of this Section, each Lender severally agrees to pay to the Administrative Agent (or such sub-agent), other Agent Party or such Related Party, as the case
may be, such Lender&#146;s <U>pro</U> <U>rata</U> share (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, <U>provided</U> that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any sub-agent thereof), such other Agent Party or such Related Party in its capacity as such. For purposes hereof, a
Lender&#146;s &#147;<U>pro</U> <U>rata</U> share&#148; shall be determined based upon its share of the aggregate outstanding Loans at such time. The obligations of the Lenders under this paragraph&nbsp;(c) are subject to the last sentence of
Section&nbsp;2.02(a) (which shall apply <U>mutatis</U> <U>mutandis</U> to the Lenders&#146; obligations under this paragraph&nbsp;(c)). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) To the extent permitted by applicable law, neither the Borrower nor any of its Subsidiaries shall assert, and each hereby waives, any
claim against any Indemnitee (i)&nbsp;for any damages arising from the use by unintended recipients of information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other
information transmission systems (including the Internet) in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby; <U>provided</U> that such indemnity shall not, as to any Indemnitee, be
available to the extent that such damages are determined by a court of competent jurisdiction by final, non-appealable judgment </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">116 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to have resulted from the gross negligence or willful misconduct of such Indemnitee or (ii)&nbsp;on any theory of liability, for special, indirect, consequential or punitive damages (as opposed
to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the Transactions, any Loan or the use of the proceeds thereof.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) All amounts due under this Section shall be payable not later than ten (10)&nbsp;Business Days after written demand therefor;
<U>provided</U>, <U>however</U>, that any Indemnitee shall promptly refund an indemnification payment received hereunder to the extent that there is a final judicial determination that such Indemnitee was not entitled to indemnification with respect
to such payment pursuant to this Section&nbsp;9.03. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.04 <U>Successors and Assigns</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that (i)&nbsp;the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted assignment or transfer by the Borrower
without such consent shall be null and void), (ii)&nbsp;no assignment shall be made to any Defaulting Lender or any of its respective Subsidiaries, or any Persons who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons
described in this clause&nbsp;(ii) and (iii)&nbsp;no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants (to the extent provided in paragraph&nbsp;(c) of this Section), the Indemnitees and, to the extent expressly contemplated hereby,
the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) (i) Subject to the conditions set forth in paragraph&nbsp;(b)(ii) below, any Lender may assign to one or more Eligible Assignees all or a
portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written consent (such consent not to be unreasonably withheld or delayed) of (A)&nbsp;the
Borrower; <U>provided</U> that no consent of the Borrower shall be required for an assignment (w)&nbsp;by a Lender to any Lender or an Affiliate of any Lender, (x)&nbsp;by a Lender to an Approved Fund, (y)&nbsp;if an Event of Default under
Section&nbsp;7.01(a), (b), (g) or (h) has occurred and is continuing or (z)&nbsp;in the case of the initial syndication of the Loans to Eligible Assignees provided that the Borrower has separately consented in writing to the allocations and identity
of such Lenders; and <U>provided</U> <U>further</U> that the Borrower shall have the right to withhold its consent to any assignment if in order for such assignment to comply with applicable law, the Borrower would be required to obtain the consent
of, or make any filing or registration with, any Governmental Authority, and (B)&nbsp;the Administrative Agent; <U>provided</U> that no consent of the Administrative Agent shall be required for an assignment to a Lender, an Affiliate of a Lender or
an Approved Fund. Notwithstanding anything in this Section&nbsp;9.04 to the contrary, if the Borrower has not given the Administrative Agent written notice of its objection to such assignment within ten (10)&nbsp;Business Days after written notice
to the Borrower, the Borrower shall be deemed to have consented to such assignment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">117 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Assignments shall be subject to the following additional conditions:
(A)&nbsp;except in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund or an assignment of the entire remaining amount of the assigning Lender&#146;s Commitment or Loans, the amount of the Commitment or Loans of the
assigning Lender subject to each such assignment (determined as of the trade date specified in the Assignment and Assumption with respect to such assignment or, if no trade date is so specified, as of the date the Assignment and Assumption with
respect to such assignment is delivered to the Administrative Agent) shall not be less than &#128;1,000,000 (and integral multiples thereof), unless the Borrower and the Administrative Agent otherwise consent (such consent not to be unreasonably
withheld or delayed); <U>provided</U> that no such consent of the Borrower shall be required if an Event of Default under Section&nbsp;7.01(a), (b), (g) or (h) has occurred and is continuing, (B)&nbsp;each partial assignment shall be made as an
assignment of a proportionate part of all the assigning Lender&#146;s rights and obligations under this Agreement, (C)&nbsp;the parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption via an
electronic settlement system acceptable to the Administrative Agent (or, if previously agreed with the Administrative Agent, manually), and (unless waived by the Administrative Agent) shall pay to the Administrative Agent a processing and
recordation fee of &#128;3,500 (which fee may be waived or reduced in the sole discretion of the Administrative Agent); <U>provided</U> that assignments made pursuant to Section&nbsp;2.16(b) or Section&nbsp;9.02(c) shall not require the signature of
the assigning Lender to become effective and (D)&nbsp;the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent any tax forms required by Section&nbsp;2.14(e) and an Administrative Questionnaire in which the assignee
designates one or more credit contacts to whom all syndicate-level information (which may contain MNPI) will be made available and who may receive such information in accordance with the assignee&#146;s compliance procedures and applicable laws,
including Federal, state and foreign securities laws. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Subject to acceptance and recording thereof pursuant to
paragraph&nbsp;(v) below, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights
and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an
Assignment and Assumption covering all of the assigning Lender&#146;s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of (and subject to the obligations and
limitations of) Sections 2.12, 2.13, 2.14 and 9.03 and to any fees payable hereunder that have accrued for such Lender&#146;s account but have not yet been paid). Any assignment or transfer by a Lender of rights or obligations under this Agreement
that does not comply with this Section&nbsp;9.04 shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph&nbsp;(c)(i) of this Section. Notwithstanding the
foregoing, no assignee, which as of the date of any assignment to it pursuant to this Section&nbsp;9.04 would be entitled to any payments under Section&nbsp;2.12 or 2.14 in an amount greater than the assigning Lender would have been entitled to as
of such date with respect to the rights assigned, shall be entitled to such greater payments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">118 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) The Administrative Agent, acting for this purpose as an agent of the
Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and principal and interest amounts of the
Loans owing to, each Lender pursuant to the terms hereof from time to time (the &#147;<U>Register</U>&#148;). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall
treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. In addition, the Administrative Agent shall maintain on the
Register information regarding the designation, and revocation of designation, of any Lender as a Defaulting Lender. The Register shall be available for inspection by the Borrower and any Lender (as to such Lender&#146;s Loans), at any reasonable
time and from time to time upon reasonable prior notice. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Upon its receipt of a duly completed Assignment and
Assumption executed by an assigning Lender and an assignee, the assignee&#146;s completed Administrative Questionnaire and any tax forms required by Section&nbsp;2.14(e) (unless the assignee shall already be a Lender hereunder), the processing and
recordation fee referred to in paragraph&nbsp;(b) of this Section&nbsp;9.04 and any written consent to such assignment required by paragraph&nbsp;(b) of this Section&nbsp;9.04, the Administrative Agent shall accept such Assignment and Assumption and
record the information contained therein in the Register. No assignment shall be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) In case any transfer or transfer made under this Section&nbsp;9.04 is made by way of novation, the transferring Lender
maintains all its rights and privileges arising under any Guarantee guaranteeing the obligations of any French Loan Party under this Agreement for the benefit of the transferee, in accordance with Articles&nbsp;1278 to 1281 of the French Civil Code.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) The words &#147;execution,&#148; &#147;signed,&#148; &#147;signature&#148; and words of like import in any
Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a
paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act
or any other similar state laws based on the Uniform Electronic Transactions Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) (i) Any Lender may, without the consent of the
Borrower or the Administrative Agent, sell participations to one or more banks or other Persons other than a natural person, a Defaulting Lender or, to the extent that the list of Disqualified Lenders has been made available to all Lenders, a
Disqualified Lender (a &#147;<U>Participant</U>&#148;) in all or a portion of such Lender&#146;s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); <U>provided</U> that (A)&nbsp;such
Lender&#146;s obligations under this </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">119 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Agreement shall remain unchanged, (B)&nbsp;such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (C)&nbsp;the Borrower, the
Administrative Agent, and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender&#146;s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells
such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and any other Loan Documents and to approve any amendment, modification or waiver of any provision of this Agreement and any other Loan
Documents; <U>provided</U> that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section&nbsp;9.02(b) that
directly and adversely affects such Participant. Subject to paragraph&nbsp;(c)(iii) of this Section, the Borrower agree that each Participant shall be entitled to the benefits of Section&nbsp;2.12, 2.13 and 2.14 (subject to the obligations and
limitations of such Sections (and the compliance of such Participant therewith as if it were a Lender, it being understood that any Participant shall deliver any documentation or information required under Section&nbsp;2.14(e) to the Participating
Lender, including Section&nbsp;2.14(e)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph&nbsp;(b) of this Section; <U>provided</U> that such Participant agrees to be subject to
Section&nbsp;2.16 as if it were a Lender. To the extent permitted by applicable law, each Participant also shall be entitled to the benefits of Section&nbsp;9.09 as though it were a Lender; <U>provided</U> that such Participant agrees to be subject
to Section&nbsp;2.15(c) as though it were a Lender. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Each Lender that sells a participation shall, acting solely for
this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and related interest amounts) of each Participant&#146;s interest in the Loans or other
obligations under this Agreement (the &#147;<U>Participant Register</U>&#148;); <U>provided</U> that no Lender shall have any obligation to disclose all or any portion of the Participant Register to any Person (including the identity of any
Participant or any information relating to a Participant&#146;s interest in any Commitments, Loans or its other obligations under this Agreement) except to the extent that such disclosure is necessary to establish that such Commitment, Loan or other
obligation is in registered form under <FONT STYLE="white-space:nowrap">Section&nbsp;5f.103-1(c)</FONT> of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive, absent manifest error, and such Lender
shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its
capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) A Participant
shall not be entitled to receive any greater payment under Section&nbsp;2.12 or Section&nbsp;2.14 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant unless the sale of such
participation is made with the Borrower&#146;s prior written consent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Any Lender may, without the consent of the Borrower or the
Administrative Agent, at any time pledge or assign a security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank
or other &#147;central&#148; bank or any other </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">120 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
state-controlled refinancing vehicle, and this Section shall not apply to any such pledge or assignment of a security interest, <U>provided</U> that no such pledge or assignment of a security
interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be effective
unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as appropriate
(which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable <U>pro</U> <U>rata</U>
share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x)&nbsp;pay and satisfy in full all payment liabilities then owed by such Defaulting
Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon) and (y)&nbsp;acquire (and fund as appropriate) its full <U>pro</U> <U>rata</U> share of all Loans in accordance with its Applicable Percentage. Notwithstanding
the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest
shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.05
<U>Survival</U>. All covenants, agreements, representations and warranties made by the Loan Parties in the Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to any Loan Document shall be considered
to have been relied upon by the other parties hereto and shall survive the execution and delivery of the Loan Documents and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding
that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of
or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and so long as the Commitments have not expired or terminated. The provisions of Sections&nbsp;2.12, 2.13, 2.14 and 9.03 and
Article&nbsp;VIII shall survive and remain in full force and effect regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, and the Commitments or the termination of this Agreement or any provision hereof.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.06 <U>Counterparts; Integration; Effectiveness</U>. This Agreement, the other Loan Documents and any separate letter
agreements with respect to fees payable to the Administrative Agent or the syndication of the Loans and Commitments constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements
and understandings, oral or written, relating to the subject matter hereof. This Agreement shall become effective on the date on which each of the conditions set forth in Section&nbsp;4.01 shall be satisfied (or waived in accordance with
Section&nbsp;9.02). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.07 <U>Signing on behalf of Dutch Loan Party</U>. If any Loan Party incorporated under the laws of the
Netherlands (a &#147;<U>Dutch Loan Party</U>&#148;), is represented by an </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">121 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
attorney in connection with the signing and/or execution of any Loan Document, agreement, deed or document referred to in or made pursuant to this Agreement, it is hereby expressly acknowledged
and accepted by the other parties to such documents that the existence and extent of the attorney&#146;s authority and the effects of the attorney&#146;s exercise or purported exercise of his or her authority shall be governed by the laws of the
Netherlands. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.08 <U>Severability</U>. Any provision of this Agreement held to be invalid, illegal or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a
particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section&nbsp;9.08, if and to the extent that the enforceability of any provisions in
this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, then such provisions shall be deemed to be in effect only to the extent not so limited. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.09 <U>Right of Setoff</U>. If an Event of Default shall have occurred and be continuing, each Lender and each of their
respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender or any such Affiliate to or for the credit or the account of the Borrower against any of and all the obligations of the Borrower then due and
owing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although (i)&nbsp;such obligations may be contingent or unmatured and (ii)&nbsp;such obligations are owed
to a branch or office of such Lender different from the branch or office holding such deposit or obligated on such Indebtedness; <U>provided</U> that in the event that any Defaulting Lender shall exercise any such right of setoff, (x)&nbsp;all
amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of Section&nbsp;2.18 and, pending such payment, shall be segregated by such Defaulting Lender from its other
funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders and (y)&nbsp;the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Loan Document
Obligations owing to such Defaulting Lender as to which it exercised such right of setoff. The applicable Lender shall notify the Borrower and the Administrative Agent of such setoff and application; <U>provided</U> that any failure to give or any
delay in giving such notice shall not affect the validity of any such setoff and application under this Section. The rights of each Lender and their respective Affiliates under this Section are in addition to other rights and remedies (including
other rights of setoff) that such Lender and their respective Affiliates may have. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.10 <U>Governing Law; Jurisdiction;
Consent to Service of Process</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) This Agreement, and all claims or causes of action (whether in contract, tort, or otherwise) that
may be based upon, arise out of or relate in any way to this Agreement, or the negotiation, execution or performance of this Agreement or the transactions contemplated hereby, shall be governed by, and construed in accordance with, the laws of the
State of New York, without regard to any principle of conflicts of law that could require the application of any other law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">122 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each party hereto hereby irrevocably and unconditionally: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan
Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the general and exclusive jurisdiction of the Supreme Court of the State of New York for the County of New York (the &#147;New York Supreme
Court&#148;), and the United States District Court for the Southern District of New York (the &#147;Federal District Court&#148;, and together with the New York Supreme Court, the &#147;New York Courts&#148;), and appellate courts from either of
them; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) consents that any such action or proceeding may be brought in such courts and waives, to the maximum extent not
prohibited by law, any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient forum and agrees not to plead or claim the same; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) agrees that the New York Courts and appellate courts from either of them shall be the exclusive forum for any legal
action or proceeding relating to this Agreement and the other Loan Documents to which it is a party, and that it shall not initiate (or collusively assist in the initiation or prosecution of) any such action or proceeding in any court other than the
New York Courts and appellate courts from either of them; <U>provided</U> that </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if all such New York Courts decline
jurisdiction over any Person, or decline (or in the case of the Federal District Court, lack) jurisdiction over the subject matter of such action or proceeding, a legal action or proceeding may be brought with respect thereto in another court having
such jurisdiction; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) in the event that a legal action or proceeding is brought against any party hereto or involving
any of its property or assets in another court (without any collusive assistance by such party or any of its Subsidiaries or Affiliates), such party shall be entitled to assert any claim or defense (including any claim or defense that this
Section&nbsp;9.10(b)(iii) would otherwise require to be asserted in a legal action or proceeding in a New York Court) in any such action or proceeding; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) any party hereto may bring any legal action or proceeding in any jurisdiction for the recognition and enforcement of any
judgment; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) agrees that with respect to any Loan Party, other than any French Subsidiary, the exclusive jurisdiction of
the New York Courts is for the benefit of the Lenders only and that any Lender may initiate proceedings against any Loan Party (other than a French Subsidiary) before a competent court of any other jurisdiction; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">123 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) agrees that service of process in any such action or proceeding may be
effected by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to the Borrower, the applicable Lender or the Administrative Agent, as the case may be, at the address specified in
Section&nbsp;9.01 or at such other address of which the Administrative Agent, any such Lender and the Borrower shall have been notified pursuant thereto, it being understood that in the event of proceedings before a Dutch court the relevant
provisions of the DCCP will apply; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) agrees that nothing herein shall affect the right to effect service of process
in any other manner permitted by law or (subject to the preceding clause&nbsp;(iii)) shall limit the right to sue in any other jurisdiction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Borrower hereby appoints Constellium U.S. Holdings I, LLC, with an office at 830 Third Avenue 9th floor, New York, NY 10022, as its
agent for service of process in any matter related to this Agreement or the other Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.11 <U>WAIVER OF JURY
TRIAL</U>. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO ANY LOAN DOCUMENT OR THE
TRANSACTIONS CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)&nbsp;CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY
WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)&nbsp;ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS
IN THIS SECTION. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.12 <U>Headings</U>. Article and Section headings and the Table of Contents used herein are for
convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.13 <U>Confidentiality</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each of the Administrative Agent and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that
Information may be disclosed (i)&nbsp;to its and its Affiliates&#146; directors, officers, employees, trustees, agents, members or partners, including accountants, legal counsel and other agents and advisors (it being understood that the Persons to
whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (ii)&nbsp;to the extent requested by any regulatory authority or self-regulatory authority, required
by applicable law or by any subpoena or similar legal process; <U>provided</U> that solely to the extent reasonably practicable and permitted by applicable law and other than in connection with routine audits and reviews by regulatory and
self-regulatory authorities, each Lender and the Administrative Agent shall notify the Borrower as promptly as practicable of any such requested or required disclosure in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">124 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
connection with any legal or regulatory proceeding; <U>provided</U> <U>further</U> that in no event shall any Lender or the Administrative Agent be obligated or required to return any materials
furnished by the Borrower or any Subsidiary, (iii)&nbsp;to any other party to this Agreement, (iv)&nbsp;in connection with the exercise of any rights or remedies hereunder or any suit, action or proceeding relating to this Agreement or the
enforcement of rights hereunder or under the Loan Documents, (v)&nbsp;subject to an agreement containing confidentiality undertakings substantially similar (or at least as restrictive) to those of this Section, to (A)&nbsp;any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement, (B)&nbsp;any actual or prospective direct or indirect contractual counterparty (or its advisors) to any Swap Agreement or
derivative transaction relating to any Loan Party or its Subsidiaries and its obligations under the Loan Documents or (C)&nbsp;any pledgee referred to in Section&nbsp;9.04(d), (vi)&nbsp;if required by any rating agency; <U>provided</U> that prior to
any such disclosure, such rating agency shall have agreed to maintain the confidentiality of such Information, (vii)&nbsp;to the extent such Information (x)&nbsp;becomes publicly available other than as a result of a breach of this Section or
(y)&nbsp;becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a nonconfidential basis from a source other than the Borrower, (viii)&nbsp;to the CUSIP Service Bureau or any similar agency in connection
with the issuance and monitoring of CUSIP numbers with respect to the Loans on a confidential basis, (ix)&nbsp;to the extent that such information is independently developed by the Administrative Agent or any Lender or (x)&nbsp;to market data
collectors, similar service providers to the lending industry, and service providers to the Administrative Agent and the Lenders in connection with the administration and management of this Agreement and the other Loan Documents. For the purposes
hereof, &#147;<U>Information</U>&#148; means all non-public information received from the Borrower relating to the Borrower, any Subsidiary or their business, other than any such information that is available to the Administrative Agent or any
Lender on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so
if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. Notwithstanding any other provision of this Agreement, any other Loan Document
or any Assignment and Acceptance, the provisions of this Section&nbsp;9.13 shall survive with respect to the Administrative Agent and each Lender until the second anniversary of the Administrative Agent or Lender ceasing to be the Administrative
Agent or a Lender, respectively. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION&nbsp;9.13(A) FURNISHED TO IT
PURSUANT TO THIS AGREEMENT MAY INCLUDE MNPI AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MNPI AND THAT IT WILL HANDLE SUCH MNPI IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE
SECURITIES LAWS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE AGENT
PURSUANT TO, OR IN THE COURSE OF ADMINISTERING, THIS AGREEMENT, WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MNPI. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS
ADMINISTRATIVE </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">125 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MNPI IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.14 <U>USA Patriot Act</U>. Each Lender that is subject to the USA Patriot Act and the Administrative Agent (for itself and not
on behalf of any Lender) hereby notifies each Loan Party that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and
address of each Loan Party and other information that will allow such Lender or the Administrative Agent, as applicable, to identify each Loan Party in accordance with the USA Patriot Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.15 <U>Judgment Currency</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If, for the purpose of obtaining judgment in any court, it is necessary to convert a sum owing hereunder in one currency into another
currency, each party hereto agrees, to the fullest extent that it may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking procedures in the relevant jurisdiction the first currency could be
purchased with such other currency on the Business Day immediately preceding the day on which final judgment is given. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The
obligations of the Borrower in respect of any sum due to any party hereto or any holder of any obligation owing hereunder (the &#147;<U>Applicable Creditor</U>&#148;) shall, notwithstanding any judgment in a currency (the &#147;<U>Judgment
Currency</U>&#148;) other than the currency in which such sum is stated to be due hereunder (the &#147;<U>Agreement Currency</U>&#148;), be discharged only to the extent that, on the Business Day following receipt by the Applicable Creditor of any
sum adjudged to be so due in the Judgment Currency, the Applicable Creditor may in accordance with normal banking procedures in the relevant jurisdiction purchase the Agreement Currency with the Judgment Currency; if the amount of the Agreement
Currency so purchased is less than the sum originally due to the Applicable Creditor in the Agreement Currency, the Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Applicable Creditor against such
loss. The obligations of the Borrower under this Section shall survive the termination of this Agreement and the payment of all other amounts owing hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.16 <U>Release of Guarantees</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) A Subsidiary Loan Party shall automatically be released from its obligations under the Loan Documents (including the Guarantee Agreement):
(i)&nbsp;upon the consummation of any transaction or designation permitted by this Agreement as a result of which such Subsidiary Loan Party ceases to be a Subsidiary Loan Party or (ii)&nbsp;if the Guarantee by such Subsidiary Loan Party of the Loan
Document Obligations becomes subject to any legal or regulatory prohibition as referred to in paragraph 1(b)(ii) of the Guarantee Principles or (iii)&nbsp;other than with respect to any Subsidiary Loan Party that is a party to the Loan Documents as
of the Closing Date, otherwise in the discretion of the Borrower. Upon the effectiveness of any written consent to the release of any Subsidiary Loan Party from its Guarantee under the Guarantee Agreement pursuant to Section&nbsp;9.02, such
Guarantee shall be automatically released. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">126 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Upon termination of the aggregate Commitments and payment in full of all Loan Document Obligations (other than contingent indemnification obligations), all obligations under the Loan Documents
(including the Guarantee Agreement) shall be automatically terminated and released. In connection with any termination or release pursuant to this Section, the Administrative Agent shall execute and deliver to any Loan Party, at such Loan
Party&#146;s expense, all documents that such Loan Party shall reasonably request to evidence such termination or release so long as the Borrower or applicable Loan Party shall have provided the Administrative Agent such certifications or documents
as the Administrative Agent shall reasonably request in order to demonstrate compliance with this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each of the Lenders
irrevocably authorizes the Administrative Agent to provide any release or evidence of release or termination contemplated by this Section&nbsp;9.16. Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing
the Administrative Agent&#146;s authority to release any Loan Party from its obligations under any Loan Document, in accordance with the terms of the Loan Document and this Section&nbsp;9.16. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.17 <U>No Advisory or Fiduciary Responsibility</U>. In connection with all aspects of each transaction contemplated hereby
(including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), the Borrower acknowledges (on its own behalf and on behalf of its Affiliates) and agrees that (i)&nbsp;(A)&nbsp;the arranging and other
services regarding this Agreement provided by the Administrative Agent, the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the <FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents, the Lenders, the Joint Lead Arrangers and
the Joint Bookrunners are arm&#146;s-length commercial transactions between the Borrower and its Affiliates, on the one hand, and the Administrative Agent, the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the Joint Arrangers, the
<FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents, the Lenders and the Joint Lead Arrangers and the Joint Bookrunners, on the other hand, (B)&nbsp;the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the
extent it has deemed appropriate, and (C)&nbsp;the Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii)&nbsp;(A) each of the
Administrative Agent, the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the <FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents, the Lenders, the Joint Lead Arrangers and the Joint Bookrunners is and has been acting
solely as a principal and has not been, is not and will not be acting as an advisor, agent or fiduciary for the Borrower, any of its Affiliates or any other Person and (B)&nbsp;none of the Administrative Agent, the
<FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the <FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents, the Lenders, the Joint Lead Arrangers or the Joint Bookrunners has any obligation to the Borrower, or any of its
Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii)&nbsp;the Administrative Agent, the
<FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the <FONT STYLE="white-space:nowrap">Co-Syndication</FONT> Agents, the Lenders, the Joint Lead Arrangers and the Joint Bookrunners and its Affiliates may be engaged in a broad range of
transactions that involve interests that differ from those of the Borrower, and its Affiliates, and none of the Administrative Agent, the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the Joint Arrangers, the <FONT
STYLE="white-space:nowrap">Co-Syndication</FONT> Agents, the Lenders, the Joint Lead Arrangers and the Joint Bookrunners has any obligation to disclose any of such interests to the Borrower, or any of its Affiliates. To the fullest extent permitted
by applicable law, the Borrower hereby waives and releases any claims that it may have against the Administrative Agent, the <FONT STYLE="white-space:nowrap">Co-Documentation</FONT> Agents, the <FONT STYLE="white-space:nowrap">Co-Syndication</FONT>
Agents, the Lenders, the Joint Lead Arrangers and the Joint Bookrunners with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">127 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Section&nbsp;9.18 <U>Interest Rate Limitation</U>. Notwithstanding anything to the contrary
contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable law (the &#147;<U>Maximum Rate</U>&#148;). If the Administrative Agent
or any Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the
interest contracted for, charged or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable law, (a)&nbsp;characterize any payment that is not principal as an expense, fee or
premium rather than interest, (b)&nbsp;exclude voluntary prepayments and the effects thereof, and (c)&nbsp;amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the
obligations hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>(signature pages follow) </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">128 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as the Borrower</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorized Signatory</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK AG NEW YORK BRANCH,<BR>as Administrative Agent and Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Marcus M. Tarkington</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Marcus M. Tarkington</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Lisa Wong</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Lisa Wong</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Vice President</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Goldman Sachs Bank USA,<BR>as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Mark Walton</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Mark Walton</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorized Signatory</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Mediobanca &#150; Banca di Credito Finanziario S.p.A.,<BR>as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Dominique Maurel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Dominique Maurel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorised attorney</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Alessandro Sauro Montevecchi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Alessandro Sauro Montevecchi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorised attorney</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">HSBC France,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as a
Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Rodolphe de Tinguy</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Rodolphe de Tinguy</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Patrick Chauliac</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Patrick Chauliac</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Managing Director</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Societe Generale,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as a
Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Marc Besnier</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Marc Besnier</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Head of Corporate Coverage France</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NATIXIS,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as a Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Hervy R&eacute;gis</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Hervy R&eacute;gis</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Relationship Manager</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Pierre-Maxime Zenati</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Pierre-Maxime Zenati</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Associate Director &#150; Loan Syndication Structuring EMEA</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">BNP Paribas,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as a
Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Pierre Guedon</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Pierre Guedon</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Deputy Relationship Manager</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Erick Cassou</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Erick Cassou</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit Agreement] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Form of Assignment and Assumption </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Assignment and Assumption (this &#147;<U>Assignment and Assumption</U>&#148;) is dated as of the Effective Date set forth below and is
entered into by and between the Assignor named below (the &#147;<U>Assignor</U>&#148;) and the Assignee named below (the &#147;<U>Assignee</U>&#148;). It is understood and agreed that the rights and obligations of the Assignor and the Assignee
hereunder are several and not joint. Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below (the &#147;<U>Credit Agreement</U>&#148;), receipt of a copy of which is hereby
acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex A attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i)&nbsp;all of the Assignor&#146;s
rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and
obligations of the Assignor under the Loans identified below (including, without limitation, the Guarantees with respect thereto) and (ii)&nbsp;to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any
other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions
governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and
obligations sold and assigned by the Assignor to the Assignee pursuant to clause (i)&nbsp;above (the rights and obligations sold and assigned pursuant to clauses (i)&nbsp;and (ii)&nbsp;above being referred to herein collectively as, the
&#147;<U>Assigned Interest</U>&#148;). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="76%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">1.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Assignor:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[Assignor Name]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">2.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Assignee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[Assignee Name]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[and is [a Lender]/an Affiliate/Approved Fund of [Lender Name]]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">3.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Borrower:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Constellium N.V., a Dutch limited liability company</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">4.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Administrative&nbsp;Agent:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DEUTSCHE BANK AG NEW YORK BRANCH,</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as the
Administrative Agent under the Credit Agreement</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">5.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Credit Agreement</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">The Credit Agreement dated as of May 7, 2014 (as amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time) among the Borrower, the lenders from time to time party thereto and
Deutsche Bank AG New York Branch, as Administrative Agent.</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="5%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><FONT STYLE="font-size:10pt">7.</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"><FONT STYLE="font-size:10pt">Assigned Interest:</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Aggregate&nbsp;amount&nbsp;of<br>Commitment/Loans&nbsp;for&nbsp;all&nbsp;Lenders</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Amount of<br>Commitment/Loans<br>Assigned</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="81%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">8.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Effective&nbsp;Date:<SUP STYLE="font-size:85%; vertical-align:top">1</SUP></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">To be inserted by Administrative Agent and which shall be the effective date of recordation of transfer in the register therefor. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The terms set forth in this Assignment and Assumption are hereby agreed to: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ASSIGNOR:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NAME OF ASSIGNOR]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ASSIGNEE:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NAME OF ASSIGNEE]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[Consented to and]<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> Accepted:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Deutsche Bank AG New York Branch</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[Consented to:]<SUP STYLE="font-size:85%; vertical-align:top">3</SUP></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Constellium N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">3</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">To be added only if the consent of the Borrower is required by the terms of the Credit Agreement. </TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>ANNEX A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">STANDARD TERMS AND CONDITIONS FOR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ASSIGNMENT AND ASSUMPTION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.
<U>Representations and Warranties</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1 <U>Assignor</U>. The Assignor (a)&nbsp;represents and warrants that (i)&nbsp;it is the legal
and beneficial owner of the Assigned Interest, (ii)&nbsp;the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii)&nbsp;it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b)&nbsp;assumes no responsibility with respect to (i)&nbsp;any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii)&nbsp;the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents, (iii)&nbsp;the financial condition of the Borrower, any of its Subsidiaries or Affiliates or
any other Person obligated in respect of any Loan Document or (iv)&nbsp;the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2 <U>Assignee</U>. The Assignee (a)&nbsp;represents and warrants that (i)&nbsp;it has full power and authority, and has taken all action
necessary to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii)&nbsp;it meets all requirements of an Eligible Assignee under the Credit
Agreement (subject to receipt of such consents as may be required under the Credit Agreement), (iii)&nbsp;from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the
Assigned Interest, shall have the obligations of a Lender thereunder, (iv)&nbsp;it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the Person exercising discretion in
making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (v)&nbsp;it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to
Section&nbsp;5.01(a) thereof and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which
it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender and (vi)&nbsp;attached hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement
(including pursuant to Section&nbsp;2.14(e)), duly completed and executed by the Assignee; and (b)&nbsp;agrees that (i)&nbsp;it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such
documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii)&nbsp;it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Payments</U>. From and after
the Effective Date referred to in this Assignment and Assumption, the Administrative Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts
which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>General Provisions</U>. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their
respective successors and permitted assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and
Assumption by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of
the State of New York. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT C </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Form of Revolving Note </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS NOTE
AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED IN THE
REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 20[&nbsp;&nbsp;&nbsp;&nbsp;] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">FOR VALUE RECEIVED, the undersigned (the &#147;<U>Borrower</U>&#148;), hereby promises to pay to
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] or
registered and permitted assigns (the &#147;<U>Lender</U>&#148;), in accordance with the provisions of the Credit Agreement (as hereinafter defined), the principal amount of the Loans from time to time made by the Lender to the Borrower under that
certain Credit Agreement, dated as of May&nbsp;7, 2014 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the &#147;<U>Credit Agreement</U>&#148;; the terms defined therein being used herein as therein
defined), among the Borrower, the Lenders from time to time party thereto and Deutsche Bank AG New York Branch, as Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Borrower promises to pay interest on the unpaid principal amount of the Loans made by the Lender from the date of such Loans until such
principal amount is paid in full, at such interest rates and at such times as provided in the Credit Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Euros in immediately
available funds to the account as may be specified by the Administrative Agent pursuant to Section&nbsp;2.15(a) of the Credit Agreement. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon
demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This revolving note (&#147;<U>Note</U>&#148;) is entitled to the benefits of the Credit Agreement and may be prepaid in whole or in part
subject to the terms and conditions provided therein. This Note is also entitled to the benefits of the Guarantee Agreement. Upon the occurrence and continuation of one or more of the Events of Default specified in the Credit Agreement, all amounts
then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Credit Agreement. The Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the
Lender in the ordinary course of business. The Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand,
dishonor and non-payment of this Note. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT
PURSUANT TO AND IN ACCORDANCE WITH THE PROVISIONS OF SECTION&nbsp;9.04 OF THE CREDIT AGREEMENT. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REVOLVING LOANS AND PAYMENTS WITH RESPECT THERETO </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="16%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">Date</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center">Amount&nbsp;of<BR>Loan&nbsp;Made</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">End&nbsp;of&nbsp;Interest<BR>Period</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Amount&nbsp;of<BR>Principal&nbsp;or<BR>Interest&nbsp;Paid<BR>This Date</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Outstanding<BR>Principal&nbsp;Balance<BR>This Date</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Notation<BR>Made&nbsp;By</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"> &nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"> &nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"> &nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"> &nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right"> &nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp; </TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXHIBIT F </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Form of Solvency Certificate </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], 201[&nbsp;&nbsp;&nbsp;&nbsp;] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Solvency Certificate (this &#147;<U>Certificate</U>&#148;) is furnished to the Administrative Agent and the Lenders pursuant to
Section&nbsp;4.01(j) of that certain Credit Agreement (the &#147;<I><U>Credit Agreement</U></I>&#148;), dated as of May [&nbsp;&nbsp;&nbsp;&nbsp;], 2014, among Constellium N.V., a Dutch limited liability company (the &#147;<U>Borrower</U>&#148;),
the lenders party thereto and Deutsche Bank AG New York Branch (the &#147;<U>Administrative Agent</U>&#148;). Unless otherwise defined herein, capitalized terms used in this Certificate shall have the meanings set forth in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I, [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], the Chief
Financial Officer of the Borrower (the &#147;<U>Borrower</U>&#148;), in that capacity only and not in my individual capacity (and without personal liability), DO HEREBY CERTIFY on behalf of the Borrower that as of the date hereof, after giving
effect to the Transactions on the Closing Date (including the execution and delivery of the Credit Agreement): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. The sum of the
liabilities (including contingent liabilities) of the Borrower and its Restricted Subsidiaries, on a consolidated basis, does not exceed the fair value of the present assets of the Borrower and its Restricted Subsidiaries, on a consolidated basis.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. The present fair saleable value of the assets of the Borrower and its Restricted Subsidiaries, on a consolidated basis, is greater
than the total amount that will be required to pay the probable liabilities (including contingent liabilities) of the Borrower and its Restricted Subsidiaries as they become absolute and matured. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. The capital of the Borrower and its Restricted Subsidiaries, on a consolidated basis, is not unreasonably small in relation to their
business as contemplated on the date hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. The Borrower and its Restricted Subsidiaries, on a consolidated basis, have not incurred
and do not intend to incur, or believe that they will incur, debts or other liabilities, including current obligations, beyond their ability to pay such debts or other liabilities as they become due (whether at maturity or otherwise). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. The Borrower and its Restricted Subsidiaries on a consolidated basis, are &#147;solvent&#148; within the meaning given to that term and
similar terms under applicable laws relating to fraudulent transfers and conveyances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. For purposes of this Certificate, the amount of
any contingent liability has been computed as the amount that, in light of all of the facts and circumstances existing as of the date hereof, represents the amount that can reasonably be expected to become an actual or matured liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. In reaching the conclusions set forth in this Certificate, the undersigned has reviewed the Credit Agreement and other Loan Documents
referred to therein and such other documents deemed relevant, (ii)&nbsp;reviewed the financial statements referred to in Section&nbsp;3.05 of the Credit Agreement (the &#147;<U>Financial Statements</U>&#148;) and (iii)&nbsp;made such other
investigations and inquiries as the undersigned has deemed appropriate. The undersigned is familiar with the financial performance and prospects of the Borrower and its Restricted Subsidiaries and hereby confirms that (i)&nbsp;the audited
consolidated balance sheets and related statements of income and cash flows of the Borrower and its subsidiaries for the Fiscal Years ended December&nbsp;31, 2011,&nbsp;December&nbsp;31, 2012 and December&nbsp;31, 2013 referred to in
Section&nbsp;3.05 of the </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Credit Agreement have been prepared in good faith and in accordance with IFRS applied consistently throughout the periods involved, and fairly present the financial condition and results of
operations of the Borrower and its Subsidiaries, as of and on the dates set forth on such Financial Statements; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. The financial
information and assumptions which underlie and form the basis for the representations made in this Certificate were fair and reasonable when made and were made in good faith and continue to be fair and reasonable as of the date hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I>[Remainder of Page Intentionally Left Blank] </I></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, I have executed this Certificate this as of the date first written above.
</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="74%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="7">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Chief Financial Officer</TD></TR>
</TABLE></DIV>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.10
<SEQUENCE>5
<FILENAME>d908770dex410.htm
<DESCRIPTION>EX-4.10
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.10</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.10 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">FIRST AMENDMENT dated as of December&nbsp;5, 2014 (this &#147;<U>Amendment</U>&#148;), to the CREDIT AGREEMENT dated as of May&nbsp;7, 2014
(the &#147;<U>Credit Agreement</U>&#148;), among CONSTELLIUM N.V., a Dutch limited liability company registered under number 34393663, the LENDERS from time to time party thereto and DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS the Lenders have agreed to extend credit to the Borrower under the Credit Agreement on the terms and subject to the conditions set
forth therein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS the Borrower is party to that certain Unit Purchase Agreement (the &#147;<U>Unit Purchase Agreement</U>&#148;),
dated October&nbsp;3, 2014, among the Borrower, Wise Metals Holdings LLC (the &#147;<U>Seller</U>&#148;) and Silver Knot, LLC, as Seller&#146;s representative, pursuant to which the Borrower will purchase from the Seller all right, title and
interest of Seller in all of the issued and outstanding membership interest of Wise Metals Intermediate Holdings LLC (the purchase of such membership interests, the &#147;<U>Transaction</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS the Borrower has requested that, subject to the consummation of the Transaction, the Credit Agreement be amended to (a)&nbsp;increase
the aggregate amount of the Commitments by &#128;25,000,000 to an aggregate total amount of &#128;145,000,000 (the &#147;<U>Commitment Increase</U>&#148;), such additional Commitments to be provided by Persons that were Lenders immediately prior to
the effectiveness of this Amendment and whose names and Commitment Increase appear on Schedule 2.01A hereto and (b)&nbsp;effect certain other amendments to the Credit Agreement as set forth herein; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS the parties hereto, which include (a)&nbsp;each Person that will provide a Commitment Increase and (b)&nbsp;each of the Lenders
(immediately prior to giving effect to the Commitment Increase), are willing to amend the Credit Agreement on the terms and subject to the conditions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, the parties hereto hereby agree as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Defined Terms.</U> Capitalized terms
used but not otherwise defined herein (including in the preamble and the recitals hereto) have the meanings assigned to them in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>First Amendment Effective Date Amendments.</U> Effective as of the First Amendment Effective Date, the Credit Agreement shall be
amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Amendments to Section&nbsp;1.01.</U> Section&nbsp;1.01 of the Credit Agreement shall be amended as follows:
</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The following new defined terms are added in appropriate alphabetical order:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>First Amendment</U>&#148; means the First Amendment to this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>First Amendment Effective Date</U>&#148; has the meaning assigned to such term in the First Amendment, which shall be
December&nbsp;5, 2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Note Escrow</U>&#148; means an escrow arrangement reasonably satisfactory to the
Administrative Agent for the deposit of the gross proceeds of the notes to be issued by Constellium N.V. in connection with the Wise Acquisition into an escrow account in accordance with the terms of the indenture related thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise Acquisition</U>&#148; means the purchase of all of the right, title and interest of Wise Metals Holdings LLC in
all of the issued and outstanding membership interest of Wise Metals Intermediate Holdings LLC pursuant to that certain Unit Purchase Agreement dated October&nbsp;3, 2014, among the Borrower, as purchaser, Wise Metals Holdings LLC, as seller, and
Silver Knot, LLC, as representative of Wise Metals Holdings LLC. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The definition of &#147;Permitted Lien&#148; shall
be amended by adding clause (ii)&nbsp;in its entirety as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Liens under the Note Escrow. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Commitment Increase Effective Date Amendments.</U> Effective as of the Commitment Increase Effective Date, the Credit Agreement
shall be amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Amendment to Schedules</U>. Schedule 2.01A attached to this Amendment shall be appended to the Credit
Agreement and shall become a schedule thereto and part thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Amendments to Section&nbsp;1.01.</U> Section&nbsp;1.01 of the
Credit Agreement shall be amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The following new defined terms are added in appropriate alphabetical
order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commitment Increase Effective Date</U>&#148; has the meaning assigned to such term in the First Amendment.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise ABL Facility</U>&#148; means that certain Credit Agreement, dated as of December&nbsp;11, 2013, by and among
Wise Alloys LLC, the other Credit Parties party thereto, the Lenders party thereto from time to time and General Electric Capital Corporation, as Agent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise Existing Debt</U>&#148; means the Wise Holdco Notes, the Wise Opco
Notes and the Wise ABL Facility. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise Guarantee Restrictions</U>&#148; means one or more covenants, provisions or
terms in any of the Wise Existing Debt that would be contravened, violated or otherwise breached by one or more of the Wise Subsidiaries guaranteeing any of the Loan Document Obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise Holdco Notes</U>&#148; means those certain 9.75 / 10.50% Senior PIK Toggle Notes due 2019 issued pursuant to an
indenture, dated as of April&nbsp;16, 2014, by and among Wise Metals Intermediate Holdings LLC, Wise Holdings Finance Corporation and Wilmington Trust, National Association, as Trustee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise Opco Notes</U>&#148; means those certain 8.75% Senior Secured Notes due 2018 issued pursuant to an indenture,
dated as of December&nbsp;11, 2013, by and among Wise Metals Group LLC, Wise Alloys Finance Corporation, the guarantors party thereto and Wells Fargo Bank, National Association, as Trustee and Collateral Agent. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise Subsidiary</U>&#148; means any of Wise Metals Intermediate Holdings LLC and its direct and indirect subsidiaries.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The definition of the term &#147;Commitment&#148; shall be amended and restated in its entirety to read as follows:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commitment</U>&#148; means an Initial Commitment or a Commitment Increase, as the context may require. The
aggregate amount of the Lenders&#146; Commitments after giving effect to the Commitment Increase Effective Date is &#128;145,000,000, with each Lender&#146;s Commitment Increase as of such date and aggregate commitment as of such date set forth on
Schedule 2.01A hereto.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) The definition of the term &#147;Maturity Date&#148; shall be amended and restated in
its entirety as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Maturity Date</U>&#148; means the earlier of (i)&nbsp;the third anniversary of the
Commitment Increase Effective Date, which shall be <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> <U>&nbsp;&nbsp;&nbsp;&nbsp;</U><SUP
STYLE="font-size:85%; vertical-align:top">1</SUP>, 2018 and (ii)&nbsp;January&nbsp;5, 2018. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) The definition of the
term &#147;Permitted Lien&#148; shall be amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(a) Clause (p)&nbsp;of the definition of &#147;Permitted Lien&#148; shall be
amended and restated in its entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(p) Liens on accounts receivable and related assets of the type specified in the
definition of &#147;Receivables Financing&#148; Incurred in connection with the Factoring Facilities and Qualified Receivables Financings permitted pursuant to Section&nbsp;6.01(b)(xvii); </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">To be inserted by the Administrative Agent. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(b) Clause (ff) of the definition of &#147;Permitted Lien&#148; shall be amended and restated in
its entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ff) Liens securing (x)&nbsp;Indebtedness Incurred pursuant to Section&nbsp;6.01(b)(i) or
Section&nbsp;6.01(b)(ii) or (y)&nbsp;obligations under that certain Advance Extension Agreement, dated August&nbsp;21, 2012, between Wise Alloys LLC and Rexam Beverage Can Company, as amended, in an aggregate amount not to exceed &#128;20,000,000;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Amendment to Article II.</U> Article II of the Credit Agreement shall be amended to replace the number
&#147;&#128;30,000,000&#148; with the number &#147;&#128;5,000,000&#148; in Section&nbsp;2.17(a) thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Amendment to Article
V.</U> Article V of the Credit Agreement shall be amended as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Section&nbsp;5.11(a) of the Credit Agreement
shall be amended and restated in its entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(a) Subject to the Guarantee Principles, the Borrower shall ensure
that, as of the last day of any fiscal quarter following the Closing Date, solely to the extent any Loans are outstanding on such date, (i)&nbsp;for the applicable Test Period ending on such date, the EBITDA of the Borrower and the Subsidiary Loan
Parties, taken together, represents not less than 75% of the consolidated EBITDA of the Borrower and its Restricted Subsidiaries (excluding any Wise Subsidiary until such time that the Wise Guarantee Restrictions shall cease to be applicable with
respect to such Wise Subsidiary) and (ii)&nbsp;as of such date, the Total Assets of the Borrower and the Subsidiary Loan Parties, taken together, represent not less than 60% of the consolidated Total Assets of the Borrower and its Restricted
Subsidiaries (excluding any Wise Subsidiary until such time that the Wise Guarantee Restrictions shall cease to be applicable with respect to such Wise Subsidiary) (the &#147;<U>Guarantor Coverage Test</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Amendments to Article VI.</U> Article VI of the Credit Agreement shall be amended as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Section&nbsp;6.01(b)(i) of the Credit Agreement shall be amended and restated in its entirety to read as follows: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i) (x) at all times during which the Wise Guarantee Restrictions are applicable with respect to
any Wise Subsidiary, (1)&nbsp;the Incurrence by Constellium Holdco II B.V. or any U.S. Loan Party of Indebtedness under the ABL Facility provided that the aggregate amount of Indebtedness thereunder shall not exceed $200,000,000 and (2)&nbsp;the
Incurrence by Constellium Holdco II B.V. or any Wise Subsidiary of Indebtedness under the Wise ABL Facility provided that the aggregate amount of Indebtedness thereunder shall not exceed $450,000,000, <I>plus</I>, in each case, the amount necessary
to pay any fees and expenses, including premiums, related in connection with any refinancing, refunding, extension, renewal or replacement of such Indebtedness and (y)&nbsp;at all times during which the Wise Guarantee Restrictions shall cease to be
applicable with respect to all Wise Subsidiaries, the Incurrence by Constellium Holdco II B.V. or any U.S. Loan Party of Indebtedness under the ABL Facility or Wise ABL Facility provided that the aggregate amount of Indebtedness thereunder, together
with any Indebtedness outstanding under clause 6.01(b)(i)(x), shall not exceed $650,000,000 <I>plus</I> the amount necessary to pay any fees and expenses, including premiums, related in connection with any refinancing, refunding, extension, renewal
or replacement of such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Section&nbsp;6.01(b)(xvii) of the Credit Agreement shall be amended and restated
in its entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(xvii) Indebtedness incurred under (i)&nbsp;the Factoring Facilities and (ii)&nbsp;any other Qualified
Receivables Financing; <I>provided</I> that the aggregate principal amount of Indebtedness at any time outstanding pursuant to this clause (xvii)&nbsp;in respect of which the Borrower or any Subsidiary (other than the Wise Subsidiaries) shall be
liable shall not exceed &#128;450,000,000; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) The proviso at the end of the first sentence of the final paragraph of
Section&nbsp;6.01 shall be amended and restated in its entirety to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><I>provided</I> that all Indebtedness under the ABL
Facility and the Wise ABL Facility on the Commitment Increase Effective Date will be deemed to have been Incurred on such date in reliance on clause (b)(i), and the Borrower shall not be permitted to reclassify all or any portion of such
Indebtedness. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Section&nbsp;6.08 of the Credit Agreement shall be amended by replacing &#147;2.50&#148; with
&#147;4.50&#148;. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Section&nbsp;6.09 of the Credit Agreement shall be amended by replacing &#147;3.50&#148; with
&#147;2.50&#148;. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Concerning Commitments.</U> Each Person whose name appears on Schedule 2.01A hereto
acknowledges and agrees that, on and as of the Commitment Increase Effective Date, such Person shall be a Lender under the Credit Agreement as amended hereby and shall have a Commitment as set forth next to the name of such Person on Schedule 2.01A
hereto. Each party hereto acknowledges and agrees that, on and as of the Commitment Increase Effective Date, Schedule 2.01A hereto sets forth all the Commitments of all the Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Representations and Warranties.</U> In order to induce the Lenders to enter into this Amendment and to amend the Credit
Agreement in the manner provided herein, the Borrower represents and warrants to the Lenders for itself and the Loan Parties that are its Subsidiaries that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each of the Loan Parties has the power and authority to execute, deliver and perform its obligations under this Amendment, the Credit
Agreement, as amended by this Amendment (the &#147;<U>Amended Agreement</U>&#148;) and each of the other Loan Documents to which it is a party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The execution, delivery and performance by each of the Loan Parties party to this Amendment, the Amended Agreement and each of the other
Loan Documents to which it is a party (a)&nbsp;have been duly authorized by all corporate, public limited company or limited liability company or partnership action required to be obtained by such Loan Party and (b)&nbsp;will not
(i)&nbsp;(A)&nbsp;violate any provision of law, statute, rule or regulation, or of the Organizational Documents of such Loan Party, (B)&nbsp;violate any applicable order of any court or any rule, regulation or order of any Governmental Authority or
(C)&nbsp;violate, be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation (including
any payment) or to a loss of a material benefit under any indenture, certificate of designation for preferred stock, agreement or any other instrument to which such Loan Party is a party or by which any of them or their property is or may be bound,
where any such conflict, violation, breach or default referred to in this clause (i)&nbsp;could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (ii)&nbsp;result in the creation or imposition of any
Lien upon or with respect to any property or assets now owned or hereafter acquired by such Loan Party, other than the Liens created by the Loan Documents and Liens permitted by Section&nbsp;6.06 of the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) No action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in
connection with the execution, delivery and performance by each of the Loan Parties of this Amendment, the Amended Agreement and the other Loan Documents to which it is a party, except for (a)&nbsp;such as have been made or obtained and are in full
force and effect, and (b)&nbsp;such other actions, consents, approvals, registrations or filings with respect to which the failure to be obtained or made could not reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) When this Amendment has been duly executed and delivered by the Borrower and each Loan Party that is a party hereto, this Amendment and
the Amended Agreement shall constitute a legal, valid and binding obligation of the Borrower and each such Loan Party, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors&#146; rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Before and after giving effect to this Amendment, the representations and warranties of the
Loan Parties set forth in the Loan Documents are true and correct in all material respects (in all respects in the case of representations and warranties qualified by materiality, Material Adverse Effect or similar language in the text thereof) on
and as of the First Amendment Effective Date (or Commitment Increase Effective Date, as applicable) with the same effect as if made on and as of such date, except to the extent such representations and warranties expressly relate to an earlier date,
in which case they were so true and correct as of such earlier date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) As of the First Amendment Effective Date (or Commitment Increase
Effective Date, as applicable), before and after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing or will result from the consummation of the transactions contemplated by this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.<U> Effectiveness.</U> This Amendment shall become a binding agreement of the parties hereto and the Amendments set forth in
Section&nbsp;2 shall become effective as of the date (the &#147;<U>First Amendment Effective Date</U>&#148;) on which all of the following conditions precedent have been satisfied (or waived in accordance with Section&nbsp;9.02 of the Credit
Agreement): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Administrative Agent (or its counsel) shall have received duly executed counterparts hereof that, when taken together,
bear the authorized signatures of the Borrower, each Person providing a Commitment Increase and each of the Lenders; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The
Administrative Agent (or its counsel) shall have received a Reaffirmation Agreement, in form and substance satisfactory to the Administrative Agent, duly executed by each Subsidiary Loan Party, pursuant to which each Subsidiary Loan Party shall
consent to the amendments effected by this Amendment and acknowledge that the Guarantee Agreement remains in full force and effect in accordance with its terms and constitutes a guarantee of the Loan Document Obligations as modified by this
Amendment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Administrative Agent shall have received to the extent invoiced, reimbursement or payment of all reasonable <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by the Borrower under the Credit Agreement; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Administrative Agent shall have received a certificate of a Responsible Officer confirming the accuracy of the representations and
warranties set forth in Section&nbsp;5 hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Administrative Agent shall notify the Borrower and the Lenders of the First Amendment Effective Date,
and such notice shall be conclusive and binding. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Conditions to the Commitment Increase.</U> Notwithstanding anything contained
herein, the Amendments set forth in Section&nbsp;3 shall be subject to prior or concurrent satisfaction of the following conditions (the date on which such conditions are satisfied, the &#147;<U>Commitment Increase Effective Date</U>&#148;): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Transaction shall have been consummated on the terms described in the Unit Purchase Agreement, without giving effect to any amendment,
waiver, consent or other modification thereof by the Borrower that is materially adverse to the interests of the Lenders (in their capacities as such); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Administrative Agent shall have received a certificate of a Responsible Officer confirming the accuracy of the representations and
warranties set forth in Section&nbsp;5 hereof and the satisfaction of the condition to effectiveness set forth in Section&nbsp;7(a) hereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Administrative Agent shall have received for the account of each Lender whose name appears on Schedule 2.01A hereto and that executes
and delivers a copy of this Amendment to the Administrative Agent (i)&nbsp;an amendment fee in an amount equal to 0.25% of the aggregate amount of the Commitments of such Lender as in effect immediately prior to the effectiveness of this Amendment
and (ii)&nbsp;an upfront fee in an amount equal to 1.50% of the aggregate amount, if any, by which the aggregate amount of the Commitments of such Lender as set forth on Schedule 2.01A hereto exceeds the aggregate amount of the Commitments of such
Lender as in effect immediately prior to the effectiveness of this Amendment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Administrative Agent shall have received all other
fees and other amounts due and payable on or prior to the Commitment Increase Effective Date, including, any amounts payable to it for the account of any Lender and, to the extent invoiced, reimbursement or payment of all reasonable <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">out-of-pocket</FONT></FONT> expenses (including reasonable fees, charges and disbursements of counsel) required to be reimbursed or paid by the Borrower under the Credit Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The Administrative Agent shall have received a closing certificate from a secretary or assistant secretary of the Borrower, in each case,
certifying as to (i)&nbsp;resolutions duly adopted by the board of directors (or equivalent governing body) of the Borrower authorizing the execution, delivery and performance of this Amendment (and the Loan Documents or other documents executed in
connection therewith or herewith in each case as amended hereby), (ii)&nbsp;copies of organizational documents (or, if applicable, a certification that that there has been no change to such entity&#146;s organizational documents previously delivered
to the Administrative Agent on the Closing Date, as applicable, and such organizational documents remain in full force and effect as of the Commitment Increase Effective Date), (iii)&nbsp;incumbency and specimen signatures of each officer executing
any Loan Document on behalf of the Borrower and (iv)&nbsp;the good standing of the Borrower; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) The Administrative Agent shall have
received the executed legal opinion of Wachtell, Lipton, Rosen&nbsp;&amp; Katz, special New York counsel to the Borrower and the other Loan Parties, as customary for transactions of this type, which shall be in form and substance reasonably
satisfactory to the Administrative Agent; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) The Administrative Agent shall have received the executed legal opinion of Stibbe,
Netherlands counsel to the Borrower and the other Loan Parties, as customary for transactions of this type, which shall be in form and substance reasonably satisfactory to the Administrative Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Administrative Agent shall notify the Borrower and the Lenders of the Commitment Increase Effective Date, and such notice shall be conclusive and binding.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Effect of this Amendment.</U> (a)&nbsp;Except as expressly set forth herein, this Amendment shall not by implication or
otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Agents or the Lenders under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the
terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect (it being understood and agreed
that all interest and fees accruing under the Credit Agreement in respect of periods prior to the Commitment Increase Effective Date will accrue at the rates specified in the Credit Agreement prior to its amendment by this Amendment and be payable
at the times provided in the Credit Agreement). Nothing herein shall be deemed to entitle any Loan Party to any other consent to, or any other waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants
or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) On and after the
First Amendment Effective Date, each reference in the Credit Agreement to &#147;this Agreement&#148;, &#147;herein&#148;, &#147;hereunder&#148;, &#147;hereto&#148;, &#147;hereof&#148; and words of similar import shall, unless the context otherwise
requires, refer to the Credit Agreement as amended hereby, and each reference to the Credit Agreement in any other Loan Document shall be deemed to be a reference to the Credit Agreement as amended hereby. This Amendment shall constitute a
&#147;Loan Document&#148; for all purposes of the Credit Agreement and the other Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) This Amendment shall be binding upon
and inure to the benefit of the Borrower and the other Loan Parties and each of their respective successors and assigns, and upon the Administrative Agent and the Lenders and their respective successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B></B>SECTION 9.<B> <U>Applicable Law; Jurisdiction.</U> (a)&nbsp;THIS AMENDMENT AND ALL CLAIMS OR CAUSES OF ACTION (WHETHER IN CONTRACT,
TORT, OR OTHERWISE) THAT MAY BE BASED UPON, ARISE OUT OF OR RELATE IN ANY WAY TO THIS AMENDMENT, OR THE NEGOTIATION, EXECUTION OR PERFORMANCE OF THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY PRINCIPLE OF CONFLICTS OF LAW THAT COULD REQUIRE THE APPLICATION OF ANY OTHER LAW. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;9.10(b) of the Credit Agreement will apply with like effect to this Amendment
and any dispute arising hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10. <U>Counterparts.</U> This Amendment may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original but all of which, when taken together, shall constitute a single instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile
or other electronic transmission shall be effective as delivery of a manually executed counterpart hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.
<U>Severability.</U> Any provision of this Amendment that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 12. <U>Fees and Expenses.</U> The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in
connection with this Amendment, including the reasonable fees, charges and disbursements of Latham&nbsp;&amp; Watkins LLP, counsel for the Administrative Agent. All fees shall be payable in immediately available funds and shall not be refundable.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I></I>[<I>Signature Pages Follow</I>]<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective authorized officers as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[First Amendment
Signature Page] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DEUTSCHE BANK AG NEW YORK BRANCH,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as Administrative Agent and Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Marcus Tarkington</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Marcus Tarkington</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Director</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Michael Winters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Michael Winters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[First Amendment
Signature Page] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="88%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name&nbsp;of&nbsp;Institution:&nbsp;GOLDMAN&nbsp;SACHS&nbsp;BANK&nbsp;USA</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rebecca Kratz</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Rebecca Kratz</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[First Amendment
Signature Page] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Name&nbsp;of&nbsp;Institution:&nbsp;Mediobanca&nbsp;&#150;&nbsp;Banca&nbsp;di&nbsp;Credito</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Finanziario&nbsp;S.p.A.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Dominique Maurel</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Dominique Maurel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorised attorney</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name of Institution: Mediobanca &#150; Banca di Credito Finanziario S.p.A.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alessandro Sauro Montevecchi</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Alessandro Sauro Montevecchi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorised attorney</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[First Amendment
Signature Page] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name of Institution: HSBC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Patrick Chauliac</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Patrick Chauliac</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Managing Director</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name of Institution:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alexandre Girod</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Alexandre Girod</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Managing Director</TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SOCI&Eacute;T&Eacute; G&Eacute;N&Eacute;RALE, as Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Patrick Sandray</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Patrick Sandray</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title: Managing Director, Leverage Finance</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Head of France, Italy and Switzerland</P></TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name of Institution: NATIXIS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ FARGEAT R&eacute;gis</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: FARGEAT R&eacute;gis</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Relationship Manager</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name of Institution: NATIXIS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ HERVY R&eacute;gis</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: HERVY R&eacute;gis</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Relationship Manager</TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="90%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Name of Institution: BNP PARIBAS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Erick Caussou</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Erick Caussou</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Corporate Acquisition Finance</TD></TR>
</TABLE></DIV>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SCHEDULE 2.01A </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COMMITMENTS OF ALL LENDERS </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AS OF
THE COMMITMENT INCREASE EFFECTIVE DATE </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:24.90pt; font-size:8pt; font-family:Times New Roman"><B>Lender</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Commitment</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deutsche Bank AG New York Branch</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">25,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">BNP Paribas</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Goldman Sachs Bank USA</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">HSBC France SA</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Mediobanca- Banca di Credito Finanziario S.p.A.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Natixis</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Societe Generale</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&#128;</TD>
<TD VALIGN="bottom" ALIGN="right">20,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.11
<SEQUENCE>6
<FILENAME>d908770dex411.htm
<DESCRIPTION>EX-4.11
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.11</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.11 </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECOND AMENDMENT dated as of February&nbsp;5, 2015 (this &#147;<U>Amendment</U>&#148;), to the CREDIT AGREEMENT dated as of
May&nbsp;7, 2014 (as previously amended by Amendment No.&nbsp;1, dated as of December&nbsp;5, 2014, the &#147;<U>Credit Agreement</U>&#148;), among CONSTELLIUM N.V., a Dutch limited liability company registered under number 34393663, the LENDERS
from time to time party thereto and DEUTSCHE BANK AG NEW YORK BRANCH, as Administrative Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS the Lenders have agreed to extend
credit to the Borrower under the Credit Agreement on the terms and subject to the conditions set forth therein; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS the Borrower has
requested that the Credit Agreement be amended to further amend Section&nbsp;6.09 of the Credit Agreement as set forth herein; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS the parties hereto, which include the Required Lenders, are willing to amend the Credit Agreement on the terms and subject to the
conditions set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable
consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.
<U>Defined Terms.</U> Capitalized terms used but not otherwise defined herein (including in the preamble and the recitals hereto) have the meanings assigned to them in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Second Amendment Effective Date Amendments.</U> Effective as of the Second Amendment Effective Date, the Credit Agreement shall
be amended as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Amendments to Section&nbsp;1.01.</U> Section&nbsp;1.01 of the Credit Agreement shall be amended as follows:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The following new defined terms are added in appropriate alphabetical order: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Second Amendment</U>&#148; means the Second Amendment to this Agreement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Second Amendment Effective Date</U>&#148; has the meaning assigned to such term in the Second Amendment, which shall
be February&nbsp;5, 2015. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Section&nbsp;6.09 of the Credit Agreement shall be amended by replacing &#147;2.50&#148;
with &#147;2.20&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.<U> Representations and Warranties.</U> In order to induce the Lenders to enter into this Amendment and
to amend the Credit Agreement in the manner </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
provided herein, on and as of the Second Amendment Effective Date, the Borrower represents and warrants to the Lenders for itself and the Loan Parties that are its Subsidiaries that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each of the Loan Parties has the power and authority to execute, deliver and perform its obligations under this Amendment, the Credit
Agreement, as amended by this Amendment (the &#147;<U>Amended Agreement</U>&#148;), and each of the other Loan Documents to which it is a party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The execution, delivery and performance by each of the Loan Parties party to this Amendment, the Amended Agreement and each of the other
Loan Documents to which it is a party (a)&nbsp;have been duly authorized by all corporate, public limited company or limited liability company or partnership action required to be obtained by such Loan Party and (b)&nbsp;will not
(i)&nbsp;(A)&nbsp;violate any provision of law, statute, rule or regulation, or of the Organizational Documents of such Loan Party, (B)&nbsp;violate any applicable order of any court or any rule, regulation or order of any Governmental Authority or
(C)&nbsp;violate, be in conflict with, result in a breach of or constitute (alone or with notice or lapse of time or both) a default under, give rise to a right of or result in any cancellation or acceleration of any right or obligation (including
any payment) or to a loss of a material benefit under any indenture, certificate of designation for preferred stock, agreement or any other instrument to which such Loan Party is a party or by which any of them or their property is or may be bound,
where any such conflict, violation, breach or default referred to in this clause (i)&nbsp;could reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, or (ii)&nbsp;result in the creation or imposition of any
Lien upon or with respect to any property or assets now owned or hereafter acquired by such Loan Party, other than the Liens created by the Loan Documents and Liens permitted by Section&nbsp;6.06 of the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) No action, consent or approval of, registration or filing with or any other action by any Governmental Authority is or will be required in
connection with the execution, delivery and performance by each of the Loan Parties of this Amendment, the Amended Agreement and the other Loan Documents to which it is a party, except for (a)&nbsp;such as have been made or obtained and are in full
force and effect, and (b)&nbsp;such other actions, consents, approvals, registrations or filings with respect to which the failure to be obtained or made could not reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) When this Amendment has been duly executed and delivered by the Borrower and each Loan Party that is a party hereto, this Amendment and
the Amended Agreement shall constitute a legal, valid and binding obligation of the Borrower and each such Loan Party, enforceable in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws
affecting creditors&#146; rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Before and after giving effect to this Amendment, the representations and warranties of the Loan Parties set forth in the Loan Documents
are true and correct in all material respects (in all respects in the case of representations and warranties qualified </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
by materiality, Material Adverse Effect or similar language in the text thereof) on and as of the Second Amendment Effective Date with the same effect as if made on and as of such date, except to
the extent such representations and warranties expressly relate to an earlier date, in which case they were so true and correct as of such earlier date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) As of the Second Amendment Effective Date, before and after giving effect to this Amendment, no Default or Event of Default has occurred
and is continuing or will result from the consummation of the transactions contemplated by this Amendment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.
<U>Effectiveness.</U> This Amendment shall become a binding agreement of the parties hereto and the Amendments set forth in Section&nbsp;2 shall become effective as of the date (the &#147;<U>Second Amendment Effective Date</U>&#148;) on which
(i)&nbsp;the Administrative Agent (or its counsel) shall have received duly executed counterparts hereof that, when taken together, bear the authorized signatures of the Borrower and the Required Lenders, (ii)&nbsp;the Administrative Agent (or its
counsel) shall have received a Reaffirmation Agreement, in form and substance satisfactory to the Administrative Agent, duly executed by each Subsidiary Loan Party, pursuant to which each Subsidiary Loan Party shall consent to the amendments
effected by this Amendment and acknowledge that the Guarantee Agreement remains in full force and effect in accordance with its terms and constitutes a guarantee of the Loan Document Obligations as modified by this Amendment and (iii)&nbsp;the
Administrative Agent shall have received for the account of each Lender that executes and delivers a copy of this Amendment to the Administrative Agent an amendment fee in an amount equal to 0.10% of the aggregate amount of the Commitments of such
Lender as in effect immediately prior to the effectiveness of this Amendment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5. <U>Effect of this Amendment.</U> (a)&nbsp;Except
as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or otherwise affect the rights and remedies of the Agents or the Lenders under the Credit Agreement or any other Loan
Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects
and shall continue in full force and effect. Nothing herein shall be deemed to entitle any Loan Party to any other consent to, or any other waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) On and after the
Second Amendment Effective Date, each reference in the Credit Agreement to &#147;this Agreement&#148;, &#147;herein&#148;, &#147;hereunder&#148;, &#147;hereto&#148;, &#147;hereof&#148; and words of similar import shall, unless the context otherwise
requires, refer to the Credit Agreement as amended hereby, and each reference to the Credit Agreement in any other Loan Document shall be deemed to be a reference to the Credit Agreement as amended hereby. This Amendment shall constitute a
&#147;Loan Document&#148; for all purposes of the Credit Agreement and the other Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) This Amendment shall be binding upon
and inure to the benefit of the Borrower and the other Loan Parties and each of their respective successors and assigns, and upon the Administrative Agent and the Lenders and their respective successors and assigns. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B></B>SECTION 6.<B> <U>Applicable Law; Jurisdiction.</U> (a)&nbsp;THIS AMENDMENT AND ALL CLAIMS
OR CAUSES OF ACTION (WHETHER IN CONTRACT, TORT, OR OTHERWISE) THAT MAY BE BASED UPON, ARISE OUT OF OR RELATE IN ANY WAY TO THIS AMENDMENT, OR THE NEGOTIATION, EXECUTION OR PERFORMANCE OF THIS AMENDMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY, SHALL
BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY PRINCIPLE OF CONFLICTS OF LAW THAT COULD REQUIRE THE APPLICATION OF ANY OTHER LAW. </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;9.10(b) of the Credit Agreement will apply with like effect to this Amendment and any dispute arising hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7. <U>Counterparts.</U> This Amendment may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original but all of which, when taken together, shall constitute a single instrument. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic transmission shall be
effective as delivery of a manually executed counterpart hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8. <U>Severability</U>. Any provision of this Amendment that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9. <U>Fees and
Expenses.</U> The Borrower agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Amendment, including the reasonable fees, charges and disbursements of Latham&nbsp;&amp; Watkins LLP, counsel
for the Administrative Agent. All fees shall be payable in immediately available funds and shall not be refundable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><I></I>[<I>Signature
Pages Follow</I>]<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective authorized officers as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mark Kirkland</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Mark Kirkland</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Group Treasurer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment
Signature Page] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DEUTSCHE BANK AG NEW YORK BRANCH,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">as Administrative Agent and Lender</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Marcus M. Tarkington</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Marcus M. Tarkington</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Director</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="91%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Michael Winters</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Michael Winters</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment
Signature Page] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">CONSENT TO SECOND AMENDMENT</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">GOLDMAN SACHS BANK USA,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Michelle Latzoni</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name: Michelle Latzoni</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment
Signature Page] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSENT TO SECOND AMENDMENT<BR></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Mediobanca &#150; Banca di Credito Finanziario S.p.A.,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Dominique Maurel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Dominique Maurel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorised attorney</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Alessandro Sauro Montevecchi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Alessandro Sauro Montevecchi</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Authorised attorney</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment Signature Page] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSENT TO SECOND AMENDMENT</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">HSBC France,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Phillippe Abonneau</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Phillippe Abonneau</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Head of Transaction Management Unit</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment Signature Page] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSENT TO SECOND AMENDMENT</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">SOCIETE GENERALE,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Patrick Sandray</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Patrick Sandray</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Managing Director, Leveraged Finance<BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Head of France, Italy and Switzerland</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment Signature Page] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSENT TO SECOND AMENDMENT</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">BNP Paribas,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Cassou Erick</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: Cassou Erick</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Corporate Acquisition Finance</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment Signature Page] </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="99%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSENT TO SECOND AMENDMENT</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">NATIXIS,</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ FARGEAT R&eacute;gis</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: FARGEAT R&eacute;gis</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Relationship Manager</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ JABOT Michel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Name: JABOT Michel</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Title: Senior Relationship Manager</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Second Amendment Signature Page] </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.12
<SEQUENCE>7
<FILENAME>d908770dex412.htm
<DESCRIPTION>EX-4.12
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.12</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.12 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSTELLIUM N.V. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">certain Guarantors from time to time parties hereto </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$400,000,000 8.00% Senior Notes due 2023 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDENTURE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of December&nbsp;19, 2014 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK
TRUST COMPANY AMERICAS, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Trustee </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 1 DEFINITIONS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules of Construction</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acts of Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 2 THE SECURITIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form and Dating</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution and Authentication</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registrar and Paying Agent</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Paying Agent to Hold Money in Trust</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holder Lists</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer and Exchange</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Temporary Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cancellation</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulted Interest</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CUSIP Numbers, ISINs, etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Calculation of Principal Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Amounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 3 REDEMPTION</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Applicability of Article</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices to Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selection of Securities to Be Redeemed</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Optional Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Notice of Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit of Redemption Price</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Securities Redeemed in Part</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Special Mandatory Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 4 COVENANTS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reports and Other Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Restricted Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend and Other Payment Restrictions Affecting Subsidiaries</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Asset Sales</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions with Affiliates</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change of Control</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compliance Certificate</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liens</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance of Office or Agency</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination and Suspension of Certain Covenants</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 5 SUCCESSOR COMPANY</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Issuer May Merge or Transfer Assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 6 DEFAULTS AND REMEDIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acceleration</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Past Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Control by Majority</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Suits</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of the Holders to Receive Payment</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collection Suit by Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee May File Proofs of Claim</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Priorities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Undertaking for Costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Stay or Extension Laws</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 7 TRUSTEE</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Duties of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Individual Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee&#146;s Disclaimer</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Affiliate Subordination Agreement</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compensation and Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Trustee by Merger</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 8 DISCHARGE OF INDENTURE; DEFEASANCE</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Discharge of Liability on Securities; Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions to Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Application of Trust Money</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment to Issuer</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnity for U.S. Government Obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reinstatement</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 9 AMENDMENTS AND WAIVERS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Without Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">With Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revocation and Effect of Consents and Waivers</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notation on or Exchange of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee to Sign Amendments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment for Consent</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Voting Terms; Calculation of Principal Amount</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 10 GUARANTEES</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Liability</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Automatic Termination of Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Waiver</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Modification</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution of Supplemental Indenture for Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-Impairment</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 11 MISCELLANEOUS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ranking</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certificate and Opinion as to Conditions Precedent</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Statements Required in Certificate or Opinion</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Securities Disregarded</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules by Trustee, Paying Agent and Registrar</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legal Holidays</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GOVERNING LAW</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consent to Jurisdiction and Service</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Recourse Against Others</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">USA PATRIOT Act</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Multiple Originals</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Table of Contents; Headings</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indenture Controls</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appendix A &nbsp;&nbsp;&nbsp;&nbsp;&#150;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provisions Relating to Original Securities and Add-On Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EXHIBIT&nbsp;INDEX</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit A &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Original Security</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit B &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form of Supplemental Indenture</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">INDENTURE dated as of December&nbsp;19, 2014 among CONSTELLIUM N.V., a public company with
limited liability (<I>naamloze vennootschap</I>) incorporated under the laws of The Netherlands (the &#147;Issuer&#148;), the GUARANTORS (as defined herein) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee (the &#147;Trustee&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each party agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of
(a)&nbsp;$400,000,000 aggregate principal amount of the Issuer&#146;s 8.00% Senior Notes due 2023 issued on the date hereof (the &#147;Original Securities&#148;) and (b)&nbsp;any additional Securities that may be issued after the date hereof in the
form of Exhibit A (the &#147;Add-On Securities&#148; (all such securities in clauses (a)&nbsp;and (b)&nbsp;being referred to collectively as the &#147;Securities&#148;). Subject to the conditions and compliance with the covenants set forth herein,
the Issuer may issue an unlimited aggregate principal amount of Add-On Securities without the consent of Holders. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.01
<U>Definitions</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Facility&#148; means the ABL Credit Agreement, dated as of May&nbsp;25, 2012, among Constellium Holdco II
B.V., Constellium U.S. Holdings I, LLC, Constellium Rolled Products Ravenswood, LLC, as borrower, the lenders from time to time party thereto Deutsche Bank Trust Company Americas, as administrative agent and collateral agent, as amended by the First
Amendment dated as of January&nbsp;7, 2013, the Second Amendment dated as of March&nbsp;20, 2013, and the Third Amendment dated as of October&nbsp;1, 2013, and as may be further amended, restated, supplemented, waived, replaced (whether or not upon
termination, and whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement extending the maturity thereof, refinancing, replacing or otherwise
restructuring all or any portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements or increasing the amount loaned or issued thereunder or altering the maturity thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Obligors&#148; means the borrower and the guarantors under the ABL Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Acquired Indebtedness&#148; means, with respect to any specified Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Indebtedness, Preferred Stock or Disqualified Stock of any other Person existing at the time such other Person is merged,
consolidated or amalgamated with or into or became a Restricted Subsidiary of such specified Person, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Indebtedness,
Preferred Stock or Disqualified Stock secured by a Lien encumbering any asset acquired by such specified Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Affiliate&#148; of
any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, &#147;control&#148; (including, with correlative
meanings, the terms &#147;controlling,&#148; &#147;controlled by&#148; and &#147;under common control with&#148;), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Applicable Premium&#148; means, with respect to any Security on any applicable redemption
date, the greater of the following, as calculated by the Issuer: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 1% of the then outstanding principal amount of the
Security; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the excess of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the present value at such redemption date of (i)&nbsp;the redemption price of the Security, at January&nbsp;15, 2018 (such
redemption price being set forth in Paragraph 5 of the Security plus (ii)&nbsp;all required interest payments due on the Security through January&nbsp;15, 2018 (excluding accrued but unpaid interest), computed using a discount rate equal to the
Treasury Rate as of such redemption date plus 50 basis points; over </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the then outstanding principal amount of such
Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Asset Sale&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions)
of property or assets (including by way of a Sale/Leaseback Transaction) outside the ordinary course of business of the Issuer or any Restricted Subsidiary of the Issuer (each referred to in this definition as a &#147;disposition&#148;) or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issuance or sale of Equity Interests (other than directors&#146; qualifying shares and shares issued to foreign
nationals or other third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Issuer or another Restricted Subsidiary of the Issuer) (whether in a single transaction or a series of related transactions),
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a disposition of Cash Equivalents or Investment Grade Securities or damaged, obsolete or worn out property or equipment in
the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) transactions permitted pursuant to Section&nbsp;5.01 or any disposition that
constitutes a Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any Restricted Payment or Permitted Investment that is permitted to be made, and is
made, under Section&nbsp;4.04; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any disposition of assets or issuance or sale of Equity Interests of any Restricted
Subsidiary, which assets or Equity Interests so disposed or issued have an aggregate Fair Market Value of less than &#128;10.0 million; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) any disposition of property or assets, or the issuance of securities, by a
Restricted Subsidiary of the Issuer to the Issuer or by the Issuer or a Restricted Subsidiary of the Issuer to a Restricted Subsidiary of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) any exchange of assets (including a combination of assets and Cash Equivalents) for assets related to a Similar Business of
comparable or greater market value or usefulness to the business of the Issuer and its Restricted Subsidiaries as a whole, as determined in good faith by the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) foreclosure or any similar action with respect to any property or any other assets of the Issuer or any of its Restricted
Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the lease, assignment or sublease of any real or personal property in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) any sale of inventory or other assets in the ordinary course of business, or which are no longer useful or necessary in the
operation of the business of the Issuer and its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any grant in the ordinary course of business
of any license of patents, trademarks, know-how or any other intellectual property; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) an issuance of Capital Stock
pursuant to an equity incentive or compensation plan approved by the Board of Directors of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) dispositions in
connection with Permitted Liens; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any financing transaction with respect to property built or acquired by the Issuer or
any Restricted Subsidiary after the Issue Date, including any Sale/Leaseback Transaction or asset securitization permitted by this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Issuer or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made
as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or other
claims of any kind; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) a transfer of accounts receivable and related assets of the type specified in the definition of
&#147;Receivables Financing&#148; (or a fractional undivided interest therein) by a Receivables Subsidiary or any Restricted Subsidiary (w)&nbsp;under the Factoring Facilities, (x)&nbsp;in a Qualified Receivables Financing, (y)&nbsp;under any other
factoring on arm&#146;s-length terms or (z)&nbsp;in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) the sale of any property in a Sale/Leaseback Transaction within six months of
the acquisition of such property; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Credit Facilities&#148; means the credit facilities described in clauses (i)&nbsp;and (ii)&nbsp;of the definition of Credit
Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Indebtedness&#148; means any and all amounts payable under or in respect of any Credit Facilities provided by bank
or other institutional lenders (excluding Credit Facilities providing for publicly offered or privately placed capital markets indebtedness), as amended, restated, supplemented, waived, replaced, restructured, repaid, refunded, refinanced or
otherwise modified from time to time (including after termination of the Bank Credit Facilities), including principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization
relating to the Issuer whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, guarantees and all other amounts payable thereunder or in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Board of Directors&#148; means, as to any Person, the board of directors or managers, as applicable, of such Person (or, if such Person
is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Borrowing Base&#148; means, as of any date, an amount equal to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 85% of the face amount of accounts receivable owned by the ABL Obligors as of the end of the most recent fiscal quarter
preceding such date; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the lesser of (i)&nbsp;80% of the lower of cost or market and (ii)&nbsp;85% of net orderly
liquidation value, in each case, of inventory owned by the ABL Obligors as of the end of the most recent fiscal quarter preceding such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Business Day&#148; means a day other than a Saturday, Sunday or other day on which banking institutions are authorized or required by
law to close in New York City, London or Amsterdam. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capital Stock&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) in the case of a corporation, corporate stock or shares; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capitalized Lease Obligation&#148; means, at the time any determination thereof is to be
made, the amount of the liability in respect of a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cash Equivalents&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) All cash, including without limitation U.S. dollars, pounds sterling, euros, Swiss franc, the national currency of any
member state in the European Union or such other currencies held by the Issuer or any Restricted Subsidiary from time to time in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Securities and other readily marketable obligations issued or directly and fully guaranteed or insured by the U.S.
government or any country that is a member of the European Union or Switzerland, or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) certificates of deposit, time deposits and Eurodollar time deposits with maturities of one year or less from the date of
acquisition, bankers&#146; acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250.0 million; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) repurchase obligations for underlying securities of the types described in clauses (2)&nbsp;and (3)&nbsp;above entered into
with any financial institution meeting the qualifications specified in clause (3)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) commercial paper issued
by a corporation (other than an Affiliate of the Issuer) rated at least &#147;A-2&#148; or the equivalent thereof by Moody&#146;s or S&amp;P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case
maturing within one year after the date of acquisition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) readily marketable direct obligations issued by any state of
the United States of America or any political subdivision thereof having an Investment Grade Rating in each case with maturities not exceeding two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Indebtedness issued by Persons with a rating of &#147;A&#148; or higher from S&amp;P or &#147;A-2&#148; or higher from
Moody&#146;s in each case with maturities not exceeding two years from the date of acquisition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) investment funds
investing at least 95% of their assets in securities of the types described in clauses (1)&nbsp;through (7)&nbsp;above; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) investments with average maturities of 12 months or less from the date of acquisition in mutual funds rated AA- (or the
equivalent thereof) or better by S&amp;P or Aaa3 (or the equivalent thereof) or better by Moody&#146;s; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10)
marketable short-term money market and similar highly liquid funds either (i)&nbsp;having assets in excess of $250.0 million or (ii)&nbsp;having a rating of at least A-2 or P-2 from either S&amp;P or Moody&#146;s (or, if at any time neither S&amp;P
nor Moody&#146;s shall be rating such obligations, an equivalent rating from another nationally recognized rating service). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Change of Control&#148; means the occurrence of any of the following events: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, lease or transfer, in one or a series of related transactions, of all or substantially all the assets of the
Issuer and its Subsidiaries, taken as a whole, to a Person; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the Issuer becomes aware (by way of a report or any
other filing pursuant to Section&nbsp;13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section&nbsp;13(d)(3) or Section&nbsp;14(d)(2) of the Exchange Act, or any
successor provision), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by way
of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the total voting power of the Voting Stock of the
Issuer; <I>provided</I>, <I>however</I>, that any entity (including Constellium N.V. upon a sale of all or substantially all of its assets to a Subsidiary in a transaction permitted under this Indenture, if at such time Constellium N.V. meets the
requirements of this proviso) that conducts no material activities other than holding Equity Interests of the Issuer or any direct or indirect parent of the Issuer and has no other material assets or liabilities other than such Equity Interests will
not be considered a &#147;Person or group&#148; for purposes of this clause (2). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Code&#148; means the United States Internal
Revenue Code of 1986, as amended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Interest Expense&#148; means, with respect to any Person for any period, the sum,
without duplication, of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) consolidated interest expense of such Person and its Restricted Subsidiaries for such period,
to the extent such expense was deducted in computing Consolidated Net Income (including amortization of original issue discount, noncash interest payments, the interest component of Capitalized Lease Obligations, and net payments and receipts (if
any) pursuant to interest rate Hedging Obligations (but excluding unrealized mark-to-market gains and losses attributable to such Hedging Obligations, amortization of deferred financing fees and expensing of any bridge or other financing fees), and
excluding interest expense attributable to the Factoring Facilities or any Qualified Receivables Financing or other factoring arrangements (to the extent accounted for as interest expense under IFRS), amortization of deferred financing fees, debt
issuance costs, commissions, fees and expenses and expensing of any bridge commitment or other financing fees); plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2)
consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued; plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Preferred Stock dividends paid in cash in respect of Disqualified Stock of
the Issuer held by persons other than the Issuer or a Restricted Subsidiary; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Commissions based on draws,
discounts and yield (but excluding other fees and charges, including commitment fees) Incurred in connection with any Receivables Financing which are payable to Persons other than the Issuer and its Restricted Subsidiaries; minus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) interest income for such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of all
Consolidated Total Indebtedness, less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA of such Person for the four full
fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and paragraphs 2, 3, and 4 thereof shall
apply to the calculation of Consolidated Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be
held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Net Income&#148;
means, with respect to any Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis; <I>provided</I>, <I>however</I>, that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any net after-tax extraordinary, nonrecurring or unusual gains or losses or income, expenses or charges (less all fees and
expenses relating thereto), including, without limitation, any (i)&nbsp;severance, relocation or other restructuring expenses, any expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for
alternate uses and fees, expenses or charges relating to new product lines, plant shutdown costs, curtailments or modifications to pension and post-retirement employee benefits plans, excess pension charges, acquisition integration costs, facilities
opening costs, project start-up costs, business optimization costs, signing, retention or completion bonuses and (ii)&nbsp;any fees, expenses or charges related to any Equity Offering, Permitted Investment, acquisition, disposition, receivables
financing, recapitalization or issuance, repayment, incurrence, refinancing, amendment or modification of Indebtedness permitted to be Incurred by this Indenture (in each case, whether or not successful), in each case, shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any increase in amortization or depreciation or any non-cash charges, in each case resulting from purchase accounting in
connection with any acquisition that is consummated after the Issue Date shall be excluded; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the Net Income for such period shall not include the cumulative effect of a
change in accounting principles during such period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any net after-tax income or loss from disposed, abandoned,
transferred, closed or discontinued operations and any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business
dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Issuer) shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of Indebtedness or Hedging Obligations or other derivative instruments shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) the Net
Income for such period of any Person that is not a Subsidiary of such Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or
distributions or other payments paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) solely for the purpose of determining the amount available for Restricted Payments under clause (1)&nbsp;of the definition
of Cumulative Credit, the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its
Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree,
order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restrictions with respect to the payment of dividends or similar distributions have been legally waived; provided that the
Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent not already
included therein; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any non-cash impairment charges or asset write-offs resulting from the application of IFRS and the
amortization of intangibles arising pursuant to IFRS shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any non-cash expense realized or resulting
from stock option plans, employee benefit plans or post-employment benefit plans, grants and sales of stock, stock appreciation or similar rights, stock options or other rights of such Person or any of its Restricted Subsidiaries shall be excluded;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) any (a)&nbsp;severance or relocation costs or expenses, (b)&nbsp;one-time non-cash compensation charges, (c)&nbsp;the
costs and expenses after May&nbsp;7, 2014 related to employment of terminated employees, (d)&nbsp;costs or expenses realized in connection with, resulting from or in anticipation of the May 2014 Transactions or (e)&nbsp;costs or expenses realized in
connection with or resulting from stock appreciation or similar rights, stock options or other rights existing on the Issue Date of officers, directors and employees, in each case of such Person or any of its Restricted Subsidiaries, shall be
excluded; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) accruals and reserves that are established or adjusted in accordance with
IFRS or changes as a result of the adoption or modification of accounting policies shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) (a)(i) the
non-cash portion of &#147;straight-line&#148; rent expense shall be excluded and (ii)&nbsp;the cash portion of &#147;straight-line&#148; rent expense which exceeds the amount expensed in respect of such rent expense shall be included and
(b)&nbsp;non-cash gains, losses, income and expenses resulting from fair value accounting shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14)
unrealized gains and losses relating to hedging transactions and mark-to-market of Indebtedness denominated in foreign currencies shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) solely for the purpose of calculating Restricted Payments, the difference, if positive, of the Consolidated Taxes of the
Issuer calculated in accordance with IFRS and the actual Consolidated Taxes paid in cash by the Issuer during any Reference Period shall be included; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) non-cash charges for deferred tax asset valuation allowances shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) an adjustment (which may be a negative number) shall be made to the extent that Net Income was calculated on an average
cost basis with respect to inventory, in order to reflect the additional Net Income (or the reduction to Net Income) which would have been recognized using an approximation of last in first out inventory accounting; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) any loss on sale of receivables and related assets in a Factoring Facility or other Qualified Receivables Financing shall
be excluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for the purpose of Section&nbsp;4.04 only, there shall be excluded from Consolidated Net
Income any dividends, repayments of loans or advances or other transfers of assets from Unrestricted Subsidiaries of the Issuer or a Restricted Subsidiary of the Issuer to the extent such dividends, repayments or transfers increase the amount of
Restricted Payments permitted under clauses (5)&nbsp;and (6)&nbsp;of the definition of &#147;Cumulative Credit.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated
Non-cash Charges&#148; means, with respect to any Person for any period, the aggregate depreciation, amortization, accretion and other non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person
for such period on a consolidated basis and otherwise determined in accordance with IFRS, but excluding any such charge which consists of or requires an accrual of, or cash reserve for, anticipated cash charges for any future period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Secured Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of
all Consolidated Total Indebtedness secured by a Lien (other than any Indebtedness under the Factoring Facilities or any Qualified Receivables </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Financing), less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA
of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and
paragraphs 2, 3, and 4 thereof shall apply to the calculation of the Consolidated Secured Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation
date (with any proceeds that are initially to be held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Taxes&#148; means provision for taxes based on income, profits or capital, including, without limitation, state, franchise
and similar taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Total Indebtedness&#148; means, as of any date of determination, the aggregate principal amount of
consolidated funded Indebtedness for borrowed money (which, for the avoidance of doubt, shall not include any Indebtedness under the Factoring Facilities or any Qualified Receivables Financing) of the Issuer and its Restricted Subsidiaries
outstanding on such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Contingent Obligations&#148; means, with respect to any Person, any obligation of such Person
guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (&#147;primary obligations&#148;) of any other Person (the &#147;primary obligor&#148;) in any manner, whether directly or indirectly, including, without
limitation, any obligation of such Person, whether or not contingent: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to advance or supply funds: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) for the purchase or payment of any such primary obligation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to purchase property, securities or services primarily for the purpose of assuring the owner
of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Credit Facilities&#148; means (i)&nbsp;the Revolving Credit Facility, dated May&nbsp;7, 2014, among the Issuer, the guarantors named
therein, the financial institutions named therein, and Deutsche Bank AG New York Branch as Administrative Agent, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original lenders or
otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement or indenture extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the
Indebtedness under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or indenture or indentures or increasing the amount loaned or issued thereunder or altering the maturity thereof (the
&#147;Revolving Credit Facility&#148;); (ii)&nbsp;Indebtedness Incurred and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
outstanding pursuant to clause (i)&nbsp;of Section&nbsp;4.03(b) (it being understood that Indebtedness that is Incurred pursuant to such clause and subsequently reclassified as being Incurred
pursuant to a different clause in accordance with this Indenture will not be deemed outstanding pursuant to such clause (a)); and (iii)&nbsp;whether or not the Credit Facilities referred to in clauses (i)&nbsp;or (ii)&nbsp;remain outstanding, if
designated by the Issuer to be included in the definition of &#147;Credit Facilities,&#148; one or more (A)&nbsp;debt facilities or commercial paper facilities, providing for revolving credit loans, term loans, receivables financing (including
through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables) or letters of credit, (B)&nbsp;debt securities, indentures or other forms of debt financing (including convertible or
exchangeable debt instruments or bank guarantees or bankers&#146; acceptances), or (C)&nbsp;instruments or agreements evidencing any other Indebtedness, in each case, with the same or different borrowers or issuers and, in each case, as amended,
supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cumulative Credit&#148; means the sum of (without duplication): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 50% of the Consolidated Net Income of the Issuer for the period (taken as one accounting period, the &#147;Reference
Period&#148;) from April&nbsp;1, 2014 to the end of the Issuer&#146;s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, in the case such Consolidated Net Income for
such period is a deficit, minus 100% of such deficit), plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) 100% of the aggregate net proceeds, including cash and the
Fair Market Value (as determined in good faith by the Issuer) of property other than cash, received by the Issuer after the Issue Date (other than net proceeds to the extent such net proceeds have been used to Incur Indebtedness, Disqualified Stock
or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx) from the issue or sale of Equity Interests of the Issuer (excluding Refunding Capital Stock, Designated Preferred Stock, Excluded Contributions or Disqualified Stock, including Equity Interests
issued upon conversion of Indebtedness or Disqualified Stock or upon exercise of warrants or options (other than an issuance or sale to a Restricted Subsidiary of the Issuer or an employee stock ownership plan or trust established by the Issuer or
any of its Subsidiaries), plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) 100% of the aggregate amount of contributions to the capital of the Issuer received in
cash and the Fair Market Value (as determined in good faith by the Issuer) of property other than cash after the Issue Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, contributions to the extent such
contributions have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx), plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) 100% of the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the
case may be, of any Disqualified Stock of the Issuer or any Restricted Subsidiary thereof issued after the Issue Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) which has been converted into or exchanged for
Equity Interests in the Issuer (other than Disqualified Stock) or any direct or indirect parent of the Issuer (provided that, in the case of any parent, such Indebtedness or Disqualified Stock is retired or extinguished), plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) 100% of the aggregate amount received by the Issuer or any Restricted
Subsidiary in cash and the Fair Market Value (as determined in good faith by the Issuer) of property other than cash received by the Issuer or any Restricted Subsidiary from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the sale or other disposition (other than to the Issuer or a Restricted Subsidiary of the Issuer) of Restricted Investments
made by the Issuer and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments from the Issuer and its Restricted Subsidiaries by any Person (other than the Issuer or any of its Restricted Subsidiaries) and
from repayments of loans or advances (including the release of any guarantee that constituted a Restricted Investment when made) that constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the sale (other than to the Issuer or a Restricted
Subsidiary of the Issuer) of the Capital Stock of an Unrestricted Subsidiary, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a distribution or dividend from an
Unrestricted Subsidiary, plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the event any Unrestricted Subsidiary of the Issuer has been redesignated as a
Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary, the Fair Market Value (as determined in good faith by the
Issuer) of the Investment of the Issuer in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after taking into account any Indebtedness associated with
the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b) or constituted a Permitted Investment). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Default&#148; means any
event which is, or after notice or passage of time or both would be, an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Non-cash Consideration&#148;
means the Fair Market Value of non-cash consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer&#146;s Certificate,
setting forth the basis of such valuation, less the amount of Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Preferred Stock&#148; means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer (other than
Disqualified Stock), that is issued for cash (other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock,
pursuant to an Officer&#146;s Certificate, on the issuance date thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Disqualified Stock&#148; means, with respect to any Person, any Capital Stock of such
Person which, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) is convertible or exchangeable for Indebtedness or Disqualified Stock of
such Person, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) is redeemable at the option of the holder thereof, in whole or in part (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case prior to 91 days after (x)&nbsp;the maturity date of the Securities or (y)&nbsp;the date the
Securities are no longer outstanding; <I>provided</I>, <I>however</I>, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder thereof
prior to such date shall be deemed to be Disqualified Stock; <I>provided</I>, <I>further</I>, <I>however</I>, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Issuer or its Subsidiaries or by
any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer in order to satisfy applicable statutory or regulatory obligations or as a result of such
employee&#146;s termination, death or disability; <I>provided</I>, <I>further</I>, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that is not
Disqualified Stock shall not be deemed to be Disqualified Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;EBITDA&#148; means, with respect to any Person for any period, the
Consolidated Net Income of such Person and its Restricted Subsidiaries for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated Taxes; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Consolidated Interest Expense; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Consolidated Non-cash Charges; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) business optimization expenses and other restructuring charges or expenses (which, for the avoidance of doubt, shall
include, without limitation, the effect of inventory optimization programs, plant closures, facility consolidations, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges);
<I>provided</I> that the aggregate amount of business optimization expenses and other restructuring charges or expenses added pursuant to this clause (4)&nbsp;shall not exceed the greater of (i)&nbsp;&#128;20.0&nbsp;million and (ii)&nbsp;10% of
EBITDA for such period; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">less, without duplication, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) non-cash items increasing Consolidated Net Income for such period (excluding the recognition of deferred revenue or any
items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period and any items for which cash was received in a prior period). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Interests&#148; means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Offering&#148; means any public or private sale
after the Issue Date of common stock or Preferred Stock of the Issuer or any direct or indirect parent of the Issuer, as applicable (other than Disqualified Stock), other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) public offerings with respect to the Issuer&#146;s or such direct or indirect parent&#146;s common stock registered on Form
F-8 or F-4; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any such public or private sale that constitutes an Excluded Contribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Euros&#148; and &#147;&#128;&#148; each mean the single currency of the Member States of the European Union participating in the third
stage of the economic and monetary union pursuant to the Treaty on the Functioning of the European Union, as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Rate&#148; means, as of any day, the rate at which the relevant currency may be exchanged into Euros or U.S.
Dollars, as applicable, at approximately 11:00 a.m., New York City time, on such date on the Bloomberg Key Cross Currency Rates Page (or any successor page) for the relevant currency. In the event that such rate does not appear on any Bloomberg Key
Cross Currency Rates Page (or any successor page), the Exchange Rate shall be determined by the Issuer in good faith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Excluded
Contributions&#148; means the Cash Equivalents or other assets (valued at their Fair Market Value as determined in good faith by the Issuer) received by the Issuer after the Issue Date from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) contributions to its common equity capital, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the sale (other than to a Subsidiary of the Issuer or to any Subsidiary management equity plan or stock option plan or any
other management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Issuer, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case designated as Excluded Contributions pursuant to an Officer&#146;s Certificate executed by an
Officer of the Issuer on or promptly after the date such capital contributions are made or the date such Capital Stock is sold, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Factoring Facilities&#148; means the receivables purchase facilities granted to certain Subsidiaries of the Issuer pursuant to
(a)&nbsp;the agreement dated as of January&nbsp;4, 2011 between GE Factofrance S.A.S. as purchaser, Constellium France, Constellium Extrusions France and Constellium Aviatube as sellers, Constellium Holdco II B.V. and Constellium Switzerland AG,
(b)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Singen GmbH as seller, (c)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and
Constellium Extrusions Deutschland GmbH as seller and (d)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Valais AG as seller, in each case, as such agreement may be amended, restated,
supplemented, waived, replaced (whether or not upon termination, and whether with the original parties or otherwise), restructured, or otherwise modified from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fair Market Value&#148; means, with respect to any asset or property, the price which could be negotiated in an arm&#146;s-length, free
market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed Charge Coverage Ratio&#148; means, with respect to any Person for any period, the ratio of EBITDA of such Person for such period
to the Fixed Charges of such Person for such period. In the event that the Issuer or any of its Restricted Subsidiaries Incurs, repays, repurchases, retires, extinguishes, defeases, discharges or redeems any Indebtedness (other than in the case of
revolving credit borrowings or revolving advances under any receivables financing, in which case interest expense shall be computed based upon the average daily balance of such Indebtedness during the applicable period unless such Indebtedness has
been permanently repaid and has not been replaced) or issues, repurchases or redeems Disqualified Stock or Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but on or prior to
the event for which the calculation of the Fixed Charge Coverage Ratio is made (the &#147;Calculation Date&#148;), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, repurchase or
redemption of Indebtedness, or such issuance, repurchase, retirement, extinguishment, defeasance, discharge or redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations
and discontinued operations (as determined in accordance with IFRS), in each case with respect to an operating unit of a business, and any operational changes that the Issuer or any of its Restricted Subsidiaries has determined to make and/or made
during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date (each, for purposes of this definition, a &#147;pro forma event&#148;) shall be calculated on a pro forma
basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and operational changes (and the change of any associated fixed charge obligations and the change in EBITDA
resulting therefrom) had occurred </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or
any Restricted Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued operation or operational change, in each case with respect to an operating unit
of a business, that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued
operation, merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in
good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may include adjustments appropriate, in the reasonable good faith determination of the Issuer, to reflect (1)&nbsp;operating expense reductions
and other operating improvements or synergies reasonably expected to result from the applicable pro forma event, and (2)&nbsp;all adjustments of the nature used in connection with the calculation of &#147;Adjusted EBITDA&#148; as set forth in
&#147;Summary Historical and Pro Forma Combined Financial Information&#151;Constellium&#148; and &#147;Summary Historical Financial Information&#151;Wise and the Wise Acquired Group&#148; in the Offering Memorandum to the extent such adjustments,
without duplication, continue to be applicable to such four-quarter period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Indebtedness bears a floating rate of interest and is
being given pro forma effect, the interest on such Indebtedness shall be calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such
Indebtedness if such Hedging Obligation has a remaining term in excess of 12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of
the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro
forma basis shall be computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a
eurocurrency interbank offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed Charges&#148; means, with respect to any Person for any period, the sum, without duplication, of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated Interest Expense of such Person for such period, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all cash dividend payments (excluding items eliminated in consolidation) on any series of Preferred Stock or Disqualified
Stock of such Person and its Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Foreign Subsidiary&#148; means a Restricted Subsidiary not organized or
existing under the laws of the United States of America or any state or territory thereof or the District of Columbia. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;GAAP&#148; means generally accepted accounting principles in the United States set forth in
the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other
entity as have been approved by a significant segment of the accounting profession. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Guarantee&#148; means any guarantee of the
obligations of the Issuer under this Indenture and the Securities by any Person in accordance with the provisions of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;guarantee&#148; means a guarantee (other than by endorsement of negotiable instruments for collection in the ordinary course of
business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. The amount of any guarantee shall be deemed
to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect
thereof as determined in good faith by the Issuer. The term &#147;guarantee&#148; as a verb has a corresponding meaning. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Guarantor&#148; means any Person that Incurs a Guarantee; <I>provided</I> that upon the release or discharge of such Person from its
Guarantee in accordance with this Indenture, such Person ceases to be a Guarantor under this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Hedging Obligations&#148;
means, with respect to any Person, the obligations of such Person under: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) currency exchange, interest rate or commodity
Swap Agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates
or commodity prices. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Holder&#148; means the Person in whose name a Security is registered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Incur&#148; means issue, assume, guarantee, incur or otherwise become liable for; <I>provided</I>, <I>however</I>, that any Indebtedness
or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;IFRS&#148; means International Financial Reporting Standards promulgated from time to time by the International Accounting Standards
Board (or any successor board or agency, together the &#147;IASB&#148;) and as adopted by the European Union and statements and pronouncements of the IASB or in such other statements by such other entity as have been approved by a significant
segment of the accounting profession, which are in effect from time to time (other than with respect to Capitalized Lease Obligations), it being understood that, for purposes of this Indenture, all references to codified accounting standards
specifically named in this Indenture shall be deemed to include any successor, replacement, amended or updated accounting standard under IFRS; <I>provided</I> that, at any time after adoption of GAAP by the Issuer (or the relevant reporting entity)
for its financial statements and reports for all financial reporting purposes, the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Issuer (or the relevant reporting entity) may irrevocably elect to apply GAAP for all purposes of this Indenture, and, upon any such election, references in this Indenture to IFRS shall be
construed to mean GAAP as in effect on the date of such election and thereafter from time to time; provided that (1)&nbsp;all financial statements and reports required to be provided after such election pursuant to this Indenture shall be prepared
on the basis of GAAP, (2)&nbsp;from and after such election, all ratios, computations, calculations and other determinations based on IFRS contained in this Indenture shall be computed in conformity with GAAP (other than with respect to Capitalized
Lease Obligations) with retroactive effect being given thereto assuming that such election had been made on the Issue Date, (3)&nbsp;such election shall not have the effect of rendering invalid any payment or Investment made prior to the date of
such election pursuant to Section&nbsp;4.04 or any Incurrence of Indebtedness or Liens Incurred prior to the date of such election pursuant to Section&nbsp;4.03 (or any other action conditioned on the Issuer and the Restricted Subsidiaries having
been able to Incur $1.00 of additional Indebtedness) or Section&nbsp;4.12 if such payment, Investment, Incurrence or other action was valid under this Indenture on the date made, Incurred or taken, as the case may be and (4)&nbsp;all accounting
terms and references in this Indenture to accounting standards shall be deemed to be references to the most comparable terms or standards under GAAP. The Issuer shall give written notice of any election to the Trustee and the Holders of the
Securities within 15 days of such election. For the avoidance of doubt, (i)&nbsp;solely making an election (without any other action) referred to in this definition will not be treated as an Incurrence of Indebtedness or Liens, and (ii)&nbsp;nothing
herein shall prevent the Issuer, any Restricted Subsidiary or reporting entity from adopting or changing its functional or reporting currency in accordance with IFRS, or GAAP, as applicable; provided that such adoption or change shall not have the
effect of rendering invalid any payment or Investment made prior to the date of such election pursuant to the covenant described under Section&nbsp;4.04 or any Incurrence of Indebtedness or Liens Incurred prior to the date of such adoption or change
pursuant to Section&nbsp;4.03 or Section&nbsp;4.12 (or any other action conditioned on the Issuer and the Restricted Subsidiaries having been able to Incur $1.00 of additional Indebtedness) if such payment, Investment, Incurrence or other action was
valid under this Indenture on the date made, Incurred or taken, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indebtedness&#148; means, with respect to any
Person (without duplication): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the principal and premium (if any) of any indebtedness of such Person, whether or not
contingent, (a)&nbsp;in respect of borrowed money, (b)&nbsp;evidenced by bonds, notes, debentures or similar instruments (except any such obligation issued in the ordinary course of business with a maturity date of no more than six months in a
transaction intended to extend payment terms of trade payables or similar obligations to trade creditors incurred in the ordinary course of business) or letters of credit or bankers&#146; acceptances (or, without duplication, reimbursement
agreements in respect thereof), (c)&nbsp;representing the deferred and unpaid purchase price of any property (except (i)&nbsp;any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case Incurred in the
ordinary course of business, (ii)&nbsp;any earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with IFRS and (iii)&nbsp;liabilities Incurred in the ordinary course of business),
(d)&nbsp;in respect of Capitalized Lease Obligations, or (e)&nbsp;representing any Hedging Obligations, if and to the extent that any of the foregoing indebtedness would appear as a liability on a balance sheet (excluding the footnotes thereto) of
such Person prepared in accordance with IFRS; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to the extent not otherwise included, any obligation of such Person to be
liable for, or to pay, as obligor, guarantor or otherwise, the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such Person
(whether or not such Indebtedness is assumed by such Person); <I>provided</I>, <I>however</I>, that the amount of such Indebtedness will be the lesser of: (a)&nbsp;the Fair Market Value of such asset at such date of determination, and (b)&nbsp;the
amount of such Indebtedness of such other Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that notwithstanding the foregoing, Indebtedness shall be deemed not
to include (1)&nbsp;Contingent Obligations incurred in the ordinary course of business and not in respect of borrowed money; (2)&nbsp;deferred or prepaid revenues; (3)&nbsp;purchase price holdbacks in respect of a portion of the purchase price of an
asset to satisfy warranty or other unperformed obligations of the respective seller; or (4)&nbsp;obligations under or in respect of Factoring Facilities or Qualified Receivables Financings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without giving effect to,
the effects of International Accounting Standards No.&nbsp;39 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for
any embedded derivatives created by the terms of such Indebtedness; and any such amounts that would have constituted Indebtedness under this Indenture but for the application of this sentence shall not be deemed an Incurrence of Indebtedness under
this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indenture&#148; means this Indenture as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Independent Financial Advisor&#148; means an accounting, appraisal or investment banking firm or consultant, in each case of nationally
recognized standing, that is, in the good faith determination of the Issuer, qualified to perform the task for which it has been engaged. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Rating&#148; means a rating equal to or higher than Baa3 (or the equivalent) by Moody&#146;s and BBB- (or the
equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Securities&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality
thereof (other than Cash Equivalents), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) securities that have a rating equal to or higher than Baa3 (or equivalent) by
Moody&#146;s or BBB- (or equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency, but excluding any debt securities or loans or advances between and among the Issuer and its Subsidiaries, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) investments in any fund that invests exclusively in investments of the type
described in clauses (1)&nbsp;and (2)&nbsp;which fund may also hold immaterial amounts of cash pending investment and/or distribution, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) corresponding instruments in countries other than the United States customarily utilized for high quality investments and
in each case with maturities not exceeding two years from the date of acquisition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investments&#148; means, with respect to any
Person, all investments by such Person in other Persons (including Affiliates) in the form of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission,
travel and similar advances to officers, employees and consultants made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and
investments that are required by IFRS to be classified on the balance sheet of the Issuer in the same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For
purposes of the definition of &#147;Unrestricted Subsidiary&#148; and Section&nbsp;4.04: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) &#147;Investments&#148; shall
include the portion (proportionate to the Issuer&#146;s equity interest in such Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary;
<I>provided</I>, <I>however</I>, that upon a redesignation of such Subsidiary as a Restricted Subsidiary, the Issuer shall be deemed to continue to have a permanent Investment in an Unrestricted Subsidiary equal to an amount (if positive) equal to:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Issuer&#146;s Investment in such Subsidiary at the time of such redesignation less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the portion (proportionate to the Issuer&#146;s equity interest in such Subsidiary) of the Fair Market Value of the net
assets of such Subsidiary at the time of such redesignation; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any property transferred to or from an Unrestricted
Subsidiary shall be valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities are originally issued. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issuer&#148; means the party named as such in the Preamble to this Indenture until a successor replaces it and, thereafter, means the
successor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Lien&#148; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any
kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to give a
security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction); provided that in no event shall an operating lease or an option or an agreement to
sell be deemed to constitute a Lien. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;May 2014 Transactions&#148; means the issuance of the Issuer&#146;s 5.750% Senior Notes due
2024 and 4.625% Senior Notes due 2021 on May&nbsp;7, 2014 and the repayment of certain credit facilities of the Issuer with the proceeds thereof, and the payment of fees and expenses and premium in connection therewith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Moody&#146;s&#148; means Moody&#146;s Investors Service, Inc. or any successor to the rating agency business thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Income&#148; means, with respect to any Person, the net income (loss) of such Person, determined in accordance with IFRS and before
any reduction in respect of Preferred Stock dividends. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Proceeds&#148; means the aggregate cash proceeds received by the Issuer
or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash
payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the disposed assets
or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including, without limitation, legal, accounting and investment
banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing
arrangements related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to Section&nbsp;4.06(b)) to be paid as a result of such transaction, and any
deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with IFRS against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer after such sale or other disposition
thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Obligations&#148; means any principal, interest, penalties, fees, indemnifications, reimbursements (including, without limitation,
reimbursement obligations with respect to letters of credit and bankers&#146; acceptances), damages and other liabilities payable under the documentation governing any Indebtedness; provided that Obligations with respect to the Securities shall not
include fees or indemnifications in favor of the Trustee and other third parties other than the Holders of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Offering
Memorandum&#148; means the offering memorandum relating to the offering of the Original Securities dated December&nbsp;5, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#148; means the chairman of the board, chief executive officer, chief financial officer, president, any executive vice
president, senior vice president or vice president, the treasurer or the secretary of the Issuer or its Subsidiary, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#146;s Certificate&#148; means a certificate signed on behalf of the Issuer or its Subsidiary (as applicable) by an Officer of
the Issuer or its Subsidiary (as applicable), who must be the principal executive officer, the principal financial officer, the treasurer, the secretary or the principal accounting officer of the Issuer or its Subsidiary, as applicable, that meets
the requirements set forth in this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Opinion of Counsel&#148; means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer or any Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Pari Passu
Indebtedness&#148; means: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) with respect to the Issuer, any Indebtedness which ranks pari passu in right of payment to
the Securities; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with respect to any Guarantor, any Indebtedness which ranks pari passu in right of payment to such
Guarantor&#146;s Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Investments&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Investment in the Issuer or any Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Investment in Cash Equivalents or Investment Grade Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any Investment by the Issuer or any Restricted Subsidiary of the Issuer in a Person if as a result of such Investment
(a)&nbsp;such Person becomes a Restricted Subsidiary of the Issuer, or (b)&nbsp;such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially
all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any Investment in
securities or other assets not constituting Cash Equivalents and received in connection with an Asset Sale made pursuant to the provisions of Section&nbsp;4.06 or any other disposition of assets not constituting an Asset Sale; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any Investment existing on, or made pursuant to binding commitments existing on, the Issue Date or an Investment consisting
of any extension, modification or renewal of any Investment existing on the Issue Date; <I>provided</I> that the amount of any such Investment may only be increased as required by the terms of such Investment as in existence on the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) advances to directors, officers or employees, taken together with all other advances made pursuant to this clause (6), not
to exceed &#128;15.0&nbsp;million at any one time outstanding; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any Investment acquired by the Issuer or any of its
Restricted Subsidiaries (a)&nbsp;in exchange for any other Investment or accounts receivable held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the
issuer of such other Investment or accounts receivable, (b)&nbsp;as a result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured
Investment in default, or (c)&nbsp;as a result of the settlement, compromise or resolution of litigation, arbitration or other disputes with Persons who are not Affiliates; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) Hedging Obligations permitted under Section&nbsp;4.03(b)(xi); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) additional Investments by the Issuer or any of its Restricted Subsidiaries having an aggregate Fair Market Value, taken
together with all other Investments made pursuant to this clause (9)&nbsp;that are at that time outstanding, not to exceed the greater of (x)&nbsp;&#128;100.0&nbsp;million and (y)&nbsp;5.5% of Total Assets at the time of such Investment (with the
Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); <I>provided</I>, <I>however</I>, that if any Investment made pursuant to this clause (9)&nbsp;is made in any Person that
is not a Restricted Subsidiary of the Issuer at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment shall thereafter be deemed to have been made pursuant to clause
(1)&nbsp;above and shall cease to have been made pursuant to this clause (9)&nbsp;for so long as such Person continues to be a Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses and other
similar expenses, in each case Incurred in the ordinary course of business or to fund such Person&#146;s purchase of Equity Interests of the Issuer or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) Investments the payment for which consists of Equity Interests of the Issuer (other than Disqualified Stock) or any direct
or indirect parent of the Issuer, as applicable; <I>provided</I>, <I>however</I>, that the issue of such Equity Interests will not increase the amount available for Restricted Payments under clause (2)&nbsp;of the definition of &#147;Cumulative
Credit&#148;; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any transaction to the extent it constitutes an Investment that is permitted by and made in accordance
with the provisions of Section&nbsp;4.07(b) (except transactions described in clauses (ii), (vi), and (viii)(B) of such Section); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) Investments consisting of the licensing or contribution of intellectual property pursuant to joint marketing arrangements
with other Persons; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) guarantees issued in accordance with Sections 4.03 and 4.11; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials, services or
equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) (i) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in
connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness; <I>provided</I>, <I>however</I>,
that any Investment in a Receivables Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest and (ii)&nbsp;any other Investment in connection with a Qualified Receivables Financing or
Factoring Facility; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) any Investment in an entity or purchase of a business or assets in each case
owned (or previously owned) by a customer of a Restricted Subsidiary as a condition or in connection with such customer (or any member of such customer&#146;s group) contracting with a Restricted Subsidiary, in each case in the ordinary course of
business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Investments of a Restricted Subsidiary of the Issuer acquired after the Issue Date or of an entity merged
into, amalgamated with, or consolidated with the Issuer or a Restricted Subsidiary of the Issuer in a transaction that is not prohibited by Section&nbsp;5.01 after the Issue Date to the extent that such Investments were not made in contemplation of
such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) any Investment in any Subsidiary (including any Unrestricted Subsidiary) or joint venture in connection with intercompany
cash management arrangements or related activities arising in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) Investments in Quiver
Ventures, LLC in an amount not to exceed &#128;80.0&nbsp;million at any time outstanding; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) guarantees by the
Issuer or any Restricted Subsidiary of operating leases or of other obligations that do not constitute Indebtedness, in each case, entered into in the ordinary course of business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Liens&#148; means, with respect to any Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) pledges or deposits by such Person under workmen&#146;s compensation laws, unemployment insurance laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits
of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Liens imposed by law, such as carriers&#146;, warehousemen&#146;s and mechanics&#146; Liens, in each case for sums not
yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Liens for taxes, assessments or other governmental charges not yet due which are being contested in good faith by
appropriate proceedings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Liens in favor of issuers of performance and surety bonds or bid bonds or with respect to
other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) minor survey exceptions, minor encumbrances, easements or reservations of, or
rights of others for, licenses, rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of
such Person or to the ownership of its properties which were not Incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of
the business of such Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) Liens securing Indebtedness permitted to be Incurred pursuant to clause (v)&nbsp;of
Section&nbsp;4.03(b) (<I>provided</I> that such Lien extends only to the property and/or Capital Stock, the purchase, lease, construction or improvement of which is financed thereby and any income or profits therefrom); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Liens existing on the Issue Date (other than liens that secure the Credit Facilities existing on the Issue Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) Liens on assets, property or shares of stock of a Person in existence at the time such Person becomes a Subsidiary;
<I>provided</I>, <I>however</I>, that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; <I>provided</I>, <I>further</I>, <I>however</I>, that such Liens may not extend to
any other property owned by the Issuer or any Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) Liens on assets or property at the
time the Issuer or a Restricted Subsidiary of the Issuer acquired the assets or property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Issuer or any Restricted Subsidiary of the Issuer;
<I>provided</I>, <I>however</I>, that such Liens are not created or Incurred in connection with, or in contemplation of, such acquisition; <I>provided</I> <I>further</I>, <I>however</I>, that the Liens may not extend to any other property owned by
the Issuer or any Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) Liens on assets of a Restricted Subsidiary that is not a
Guarantor securing Indebtedness of such Restricted Subsidiary permitted to be Incurred pursuant to Section&nbsp;4.03, other than Indebtedness owed to another Restricted Subsidiary that is not a Guarantor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) Liens securing Hedging Obligations not incurred in violation of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person&#146;s obligations in
respect of bankers&#146; acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of the
Issuer or any of its Restricted Subsidiaries; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) Liens arising from Uniform Commercial Code financing statement filings
regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Liens in favor of the Issuer or any Guarantor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) Liens on accounts receivable and related assets of the type specified in the definition of &#147;Receivables
Financing&#148; Incurred in connection with a Qualified Receivables Financing and Factoring Facilities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) deposits made
in the ordinary course of business to secure liability to insurance carriers; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Liens on the Equity Interests of
Unrestricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) grants of software and other technology licenses in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings, refundings,
extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8)&nbsp;and (9); <I>provided</I>, <I>however</I>, that (x)&nbsp;such new Lien shall be limited to
all or part of the same property that secured the original Lien (plus improvements on such property), and (y)&nbsp;the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A)&nbsp;the outstanding
principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8)&nbsp;and (9)&nbsp;at the time the original Lien became a Permitted Lien under this Indenture, and (B)&nbsp;an amount necessary to pay any
fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21)
Liens on equipment of the Issuer or any Restricted Subsidiary granted in the ordinary course of business to the Issuer&#146;s or such Restricted Subsidiary&#146;s client at which such equipment is located; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) judgment and attachment Liens not giving rise to an Event of Default and notices of lis pendens and associated rights
related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered
into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) Liens incurred to secure cash management services or to implement cash
pooling arrangements in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) Liens arising by virtue of any statutory or common law
provisions or under the Dutch General Banking Conditions relating to banker&#146;s liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) any interest or title of a lessor under any Capitalized Lease Obligations;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint
venture or similar arrangement pursuant to any joint venture or similar agreement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) Liens in favor of customs and
revenue authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) Liens solely on any cash earnest money deposits made by the Issuer or any of its Restricted Subsidiaries in connection
with any letter of intent or purchase agreement in respect of any Investment permitted hereunder; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) Liens on securities
that are the subject of repurchase agreements constituting Cash Equivalents; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) Liens on equity interests of a joint
venture securing Indebtedness of such joint venture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) Liens securing Indebtedness and other Obligations under Credit
Facilities Incurred pursuant to clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;4.03(b) (other than Indebtedness Incurred pursuant to clause (ii)&nbsp;of such paragraph if such Indebtedness is required to be unsecured pursuant to the proviso to
sub-clause (B)&nbsp;thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) Liens securing obligations which obligations do not exceed, at the time of incurrence
thereof, the greater of (i)&nbsp;&#128;75.0&nbsp;million and (ii)&nbsp;4.5% of Total Assets; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) Liens securing
obligations in respect of letters of credit or bank guarantees issued in the ordinary course of business, which letters of credit or bank guarantees do not secure debt for borrowed money. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Person&#148; means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company,
trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Preferred
Stock&#148; means any Equity Interest with preferential right of payment of dividends or upon liquidation, dissolution, or winding up. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Purchase Money Note&#148; means a promissory note of a Receivables Subsidiary evidencing a line of credit, which may be irrevocable,
from the Issuer or any Subsidiary of the Issuer to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended to finance that portion of the purchase price that is not paid by cash or a contribution of
equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Qualified Receivables Financing&#148; means (1)&nbsp;the Receivables Financing pursuant to the Factoring Facilities
(including any increase in the amount thereof); and (2)&nbsp;any Receivables Financing that meets the following conditions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the Issuer shall have determined in good faith that such Receivables Financing (including financing terms, covenants,
termination events and other provisions) is in the aggregate economically fair and reasonable to the Issuer or, as the case may be, the Subsidiary in question; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all sales of accounts receivable and related assets are made at Fair Market
Value; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the financing terms, covenants, termination events and other provisions thereof shall be market terms (as
determined in good faith by the Issuer) and may include Standard Undertakings and provided that in the case of Receivables Financings under clause (2), such Receivables Financings shall have no greater recourse in any material respect to the Issuer
and its Restricted Subsidiaries than the recourse to the Issuer and its Restricted Subsidiaries in the Factoring Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Rating
Agency&#148; means (1)&nbsp;each of Moody&#146;s and S&amp;P and (2)&nbsp;if Moody&#146;s or S&amp;P ceases to rate the Securities for reasons outside of the Issuer&#146;s control, a &#147;nationally recognized statistical rating organization&#148;
within the meaning of Section&nbsp;3(a)(62) under the Exchange Act selected by the Issuer or any direct or indirect parent of the Issuer as a replacement agency for Moody&#146;s or S&amp;P, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Fees&#148; means distributions or payments made directly or by means of discounts with respect to any participation
interests issued or sold in connection with, and all other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Financing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Financing&#148; means any transaction or series of transactions that may be entered into by any of the Issuer&#146;s
Subsidiaries pursuant to which such Subsidiary may sell, convey or otherwise transfer to any other Person, or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of such Subsidiary, and any
assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other
assets, in each case, which are customarily transferred in or in respect of which security interests are customarily granted in connection with asset securitization transactions or factoring transactions involving accounts receivable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Repurchase Obligation&#148; means any obligation of a seller of receivables in a Qualified Receivables Financing to
repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, off-set or counterclaim of any
kind as a result of any action taken by, any failure to take any action by or any other event relating to the seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables
Subsidiary&#148; means a Wholly Owned Restricted Subsidiary of the Issuer (or another Person formed for the purposes of engaging in Qualified Receivables Financing with the Issuer in which the Issuer or any Subsidiary of the Issuer makes an
Investment and to which the Issuer or any Subsidiary of the Issuer transfers accounts receivable and related assets) which engages in no activities other than in connection with the financing of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
accounts receivable of the Issuer and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or activities
incidental or related to such business, and which is designated by the Issuer as a Receivables Subsidiary and: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no
portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i)&nbsp;is guaranteed by the Issuer or any other Subsidiary of the Issuer (excluding guarantees of obligations (other than the principal of and interest on,
Indebtedness) pursuant to Standard Undertakings), (ii)&nbsp;is recourse to or obligates the Issuer or any other Subsidiary of the Issuer in any way other than pursuant to Standard Undertakings, or (iii)&nbsp;subjects any property or asset of the
Issuer or any other Subsidiary of the Issuer, directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Undertakings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with which neither the Issuer nor any other Subsidiary of the Issuer has any material contract, agreement, arrangement or
understanding other than on terms which the Issuer reasonably believes to be no less favorable to the Issuer or such Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuer; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to which neither the Issuer nor any other Subsidiary of the Issuer has any obligation to maintain or preserve such
entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Representative&#148; means
the trustee, agent or representative (if any) for an issue of Indebtedness; <I>provided</I> that if, and for so long as, such Indebtedness lacks such a Representative, then the Representative for such Indebtedness shall at all times constitute the
holder or holders of a majority in outstanding principal amount of obligations under such Indebtedness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Responsible Officer of the
Trustee&#148; means: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any officer within the corporate trust department of the Trustee, including any vice president,
assistant vice president, assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively,
or to whom any corporate trust matter is referred because of such Person&#146;s knowledge of and familiarity with the particular subject; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) who shall have direct responsibility for the administration of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Investment&#148; means an Investment other than a Permitted Investment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Subsidiary&#148; means, with respect to any Person, any Subsidiary of such Person other than an Unrestricted Subsidiary of
such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Revolving Credit Facility&#148; has the meaning ascribed thereto in clause (i)&nbsp;of the
definition of &#147;Credit Facilities.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Sale/Leaseback Transaction&#148; means an arrangement relating to property now owned
or hereafter acquired by the Issuer or a Restricted Subsidiary whereby the Issuer or a Restricted Subsidiary transfers such property to a Person and the Issuer or such Restricted Subsidiary leases it from such Person, other than leases between the
Issuer and a Restricted Subsidiary of the Issuer or between Restricted Subsidiaries of the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;S&amp;P&#148; means
Standard&nbsp;&amp; Poor&#146;s Ratings Group or any successor to the rating agency business thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;SEC&#148; means the
Securities and Exchange Commission. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Secured Indebtedness&#148; means any Indebtedness secured by a Lien. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities&#148; has the meaning given such term in the Preamble to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities Act&#148; means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Significant Subsidiary&#148; means any Restricted Subsidiary that would be a &#147;Significant Subsidiary&#148; of the Issuer within the
meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Similar Business&#148; means a business, the majority of whose
revenues are derived from the activities of the Issuer and its Subsidiaries as of the Issue Date or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary
thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Special Mandatory Redemption Date&#148; means the earlier of (a)&nbsp;the last Business Day that is on or before the 15<SUP
STYLE="font-size:85%; vertical-align:top">th </SUP>day after a Special Mandatory Redemption Event or (b)&nbsp;any other Business Day selected by the Issuer and set forth in the notice of redemption, with respect to a Special Mandatory Redemption,
but in any event upon not less than 5 Business Days&#146; notice to the Depository and given in accordance with the provisions of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Special Mandatory Redemption Event&#148; means the first to occur of (a)&nbsp;the Wise Acquisition is not consummated on or prior to
July&nbsp;3, 2015, (b)&nbsp;the Unit Purchase Agreement is terminated, or (c)&nbsp;the Issuer determines in its sole discretion that the Wise Acquisition will not be consummated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Standard Undertakings&#148; means representations, warranties, covenants, indemnities and guarantees of performance entered into by the
Issuer or any Subsidiary of the Issuer that are determined by the Issuer in good faith to be customary in a Receivables Financing, including, without limitation, those relating to the servicing of assets of a Subsidiary, it being understood that any
Receivables Repurchase Obligation shall be deemed to be a Standard Undertaking. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Stated Maturity&#148; means, with respect to any security, the date specified in such
security as the fixed date on which the final payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option
of the holder thereof upon the happening of any contingency beyond the control of the issuer unless such contingency has occurred). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subordinated Indebtedness&#148; means (a)&nbsp;with respect to the Issuer, any Indebtedness of the Issuer which is by its terms
subordinated in right of payment to the Securities, and (b)&nbsp;with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms subordinated in right of payment to its Guarantee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subsidiary&#148; means, with respect to any Person, (1)&nbsp;any corporation, association or other business entity (other than a
partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and (2)&nbsp;any partnership, joint venture or limited
liability company of which (x)&nbsp;more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are owned or controlled, directly or indirectly, by such
Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and (y)&nbsp;such Person or any Subsidiary of such Person is
a controlling general partner or otherwise controls such entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Swap Agreement&#148; means any agreement with respect to any swap,
forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or
measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or
former directors, officers, employees or consultants of the Issuer or any of the Restricted Subsidiaries shall be a Swap Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Taxes&#148; means all present and future taxes, levies, imposts, deductions, charges, duties, and withholdings and any similar
governmental charges (including interest and penalties with respect thereto) by any government or taxing authority. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Total
Assets&#148; means, as of any date of determination, the total consolidated assets of the Issuer and the Restricted Subsidiaries, as shown on the most recent balance sheet of the Issuer, and determined as of the time of the occurrence of any event
giving rise to the requirement to determine Total Assets and after giving pro forma effect to the occurrence of such event and all other acquisitions or dispositions of a Person, business or assets that have been completed or are subject to a
definitive agreement from the date of such balance sheet to the date of such event giving rise to the requirement to determine Total Assets. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Treasury Rate&#148; means, as of any redemption date of the Securities, the yield to
maturity as of the earlier of (a)&nbsp;such redemption date or (b)&nbsp;the date on which the Securities are defeased or satisfied and discharged, of the most recently issued U.S. Treasury securities with a constant maturity (as compiled and
published in the most recent Federal Reserve Statistical Release H.15 (519)&nbsp;(&#147;Statistical Release&#148;) that has become publicly available at least two Business Days prior to such earlier date (or, if such Statistical Release is no longer
published, any publicly available source of similar market data)) most nearly equal to the period from the redemption date to January&nbsp;15, 2018; <I>provided</I>, <I>however</I>, that if the period from such redemption date to January&nbsp;15,
2018 is less than one year, the weekly average yield on actually traded U. S. Treasury securities adjusted to a constant maturity of one year will be used. Any such Treasury Rate shall be obtained by the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Trustee&#148; means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Uniform Commercial Code&#148; means the New York Uniform Commercial Code as in effect from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Unit Purchase Agreement&#148; means the Unit Purchase Agreement, dated as of October&nbsp;3, 2014, by and among Constellium N.V., Wise
Metals Holdings LLC, a Delaware limited liability company, and Silver Knot, LLC, a Delaware limited liability company, as the representative. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Subsidiary&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the Board
of Directors of such Person in the manner provided below; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Subsidiary of an Unrestricted Subsidiary; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Quiver Ventures, LLC and Constellium Engley (Changchun) Automotive Structures Co. Ltd. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly formed Subsidiary of the Issuer) to be
an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other Subsidiary of the Issuer that is not a Subsidiary of the
Subsidiary to be so designated; <I>provided</I>, <I>however</I>, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur any Indebtedness pursuant to which the lender has
recourse to any of the assets of the Issuer or any of its Restricted Subsidiaries; provided, further, however, that either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) if such Subsidiary has consolidated assets greater than $1,000, then such designation would be permitted under
Section&nbsp;4.04. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a Restricted Subsidiary;
<I>provided</I>, <I>however</I>, that immediately after giving effect to such designation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(x) (1) the Issuer could Incur $1.00 of
additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a) or (2)&nbsp;the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries would be equal to or greater than such ratio for
the Issuer and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(y) no Event of Default shall have occurred and be continuing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a copy of
the resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer&#146;s Certificate certifying that such designation complied with the foregoing provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;U.S. Dollars&#148; and &#147;$&#148; each mean the lawful currency of the United States of America. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;U.S. Government Obligations&#148; means securities that are: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) direct obligations of the United States of America for the timely payment of which its full faith and credit is pledged, or
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of
America, the timely payment of which is unconditionally guaranteed as a full faith and credit obligation by the United States of America, which, in each case, are not callable or redeemable at the option of the issuer thereof, and shall also include
a depository receipt issued by a bank (as defined in Section&nbsp;3(a)(2) of the Securities Act) as custodian with respect to any such U.S. Government Obligations or a specific payment of principal of or interest on any such U.S. Government
Obligations held by such custodian for the account of the holder of such depository receipt; provided that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository
receipt from any amount received by the custodian in respect of the U.S. Government Obligations or the specific payment of principal of or interest on the U.S. Government Obligations evidenced by such depository receipt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Voting Stock&#148; of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the
election of the Board of Directors of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Weighted Average Life to Maturity&#148; means, when applied to any Indebtedness
or Disqualified Stock, as the case may be, at any date, the quotient obtained by dividing (1)&nbsp;the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment of such
Indebtedness or redemption or similar payment with respect to such Disqualified Stock multiplied by the amount of such payment, by (2)&nbsp;the sum of all such payments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Restricted Subsidiary&#148; is any Wholly Owned Subsidiary that is a
Restricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Subsidiary&#148; of any Person means a Subsidiary of such Person 100% of the outstanding
Capital Stock or other ownership interests of which (other than directors&#146; qualifying shares or shares required to be held by Foreign Subsidiaries) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such
Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise ABL Facility&#148; means that certain Credit Agreement, dated as of December&nbsp;11, 2013, by and among Wise Alloys,
LLC, the other credit parties party thereto, the Lenders party thereto from time to time and General Electric Capital Corporation, as agent, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the
original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the
Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements or increasing the amount loaned or issued thereunder or altering the maturity thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Acquisition&#148; means the acquisition of Wise Metals Intermediate Holdings LLC pursuant to the Unit Purchase Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Entities&#148; means Wise Metals Intermediate Holdings LLC and each of its direct and indirect Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Existing Debt&#148; means the Wise Senior Secured Notes, the Wise Senior PIK Toggle Notes and the Wise ABL Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Guarantee Restrictions&#148; means one or more covenants, provisions or terms in any of the Wise Existing Debt that would be
contravened, violated or otherwise breached by Wise Metals Intermediate Holdings LLC or its direct or indirect Subsidiaries providing a Guarantee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Senior PIK Toggle Notes&#148; means those certain 9.75 / 10.50% Senior PIK Toggle Notes due 2019 issued pursuant to an indenture,
dated as of April&nbsp;16, 2014, among Wise Metals Intermediate Holdings LLC, Wise Holdings Finance Corporation and Wilmington Trust, National Association, as trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Senior Secured Notes&#148; means those certain 8.75% Senior Secured Notes due 2018 issued pursuant to an indenture, dated as of
December&nbsp;11, 2013, among Wise Metals Group LLC, Wise Alloys Finance Corporation, the guarantors party thereto and Wells Fargo Bank, National Association, as trustee and collateral agent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.02 <U>Other Definitions</U>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:17.30pt; font-size:8pt; font-family:Times New Roman">Term</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="border-bottom:1.00pt solid #000000; width:32.15pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Defined<BR>in&nbsp;Section</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Add-On Securities&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Additional Amounts&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Affiliate Transaction&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.07(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Appendix&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Asset Sale Offer&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Auditors&#146; Determination&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Bankruptcy Law&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Change of Control Offer&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.08(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;covenant defeasance option&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Covenant Suspension Event&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Custodian&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Definitive Security&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Depository&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Directive&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;DPTA&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Euroclear&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Event of Default&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Excess Proceeds&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;French Guarantor&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;German Guarantor&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Global Securities&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Global Securities Legend&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;GmbH&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;GmbHG&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(iii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;GmbH&nbsp;&amp; Co. KG&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Guaranteed Obligations&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.01(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;HGB&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;IAI&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;incorporated provision&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>11.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Indirect Issuance&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Initial Purchasers&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;legal defeasance option&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Management Determination&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(b)(v)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Maximum Guaranteed Amount&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Note Register&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Notice of Default&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Offer Period&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.06(d)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Original Securities&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Payor&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Principal Paying Agent&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.04</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;protected purchaser&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.08</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;QIB&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Refinancing Indebtedness&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.03(b)(xiv)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Refunding Capital Stock&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>4.04(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Registrar&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Regulation S&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Regulation S Securities&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;Relevant Taxing Jurisdiction&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP>2.15</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Global Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Payments&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Securities Legend&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Retired Capital Stock&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.04(b)(ii)(A)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Reversion Date&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 501&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Securities Custodian&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Shelf Registration Statement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Special Mandatory Redemption&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">3.09(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Company&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.01(a)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.01(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspended Covenants&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspension Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Agreement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(d)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer Restricted Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Trustee&#146;s Request&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Withholding Tax&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.02(d)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Unrestricted Definitive Security&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Appendix A</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.03 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.04 <U>Rules of Construction</U>. Unless the context otherwise requires: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a term has the meaning assigned to it; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &#147;or&#148; is not exclusive; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) &#147;including&#148; means including without limitation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) words in the singular include the plural and words in the plural include the singular; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the Issuer dated such date prepared in accordance with IFRS; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the principal amount of any Preferred Stock shall be (i)&nbsp;the maximum
liquidation value of such Preferred Stock or (ii)&nbsp;the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations
hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with IFRS. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) For purposes of determining compliance with any Euro-denominated restriction or basket limitation under Sections 4.03,
4.04, 4.06 and 4.12 hereof (including any defined terms referenced and utilized in such sections), as of any time of determination, any such basket limitation shall be deemed to be the greater of (i)&nbsp;the applicable Euro-denominated amount set
forth in this Indenture and (ii)&nbsp;the amount of Euro obtained by multiplying the applicable Euro-denominated amount set forth in this Indenture by 1.3774 (which was the dollar-to-Euro Exchange Rate as of March&nbsp;31, 2014) and then multiplying
the result by a number equal to the amount of Euros into which 1 U.S.&nbsp;Dollar may be converted using the Exchange Rate in effect at the time of determination. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) For purposes of determining compliance with Sections 4.03, 4.04, 4.06 and 4.12 hereof, utilized amounts under any such
covenant or basket shall be tracked in Euro irrespective of what currency is actually used to make the Incurrence. When an Incurrence is made in a currency other than Euro, the amount of Euro for purposes of the applicable covenant(s) shall be
calculated based on the relevant currency Exchange Rate in effect on the date such Incurrence was made, <I>provided</I> that if Indebtedness is Incurred to refinance other Indebtedness denominated in a currency other than Euros, and such refinancing
would cause the applicable Euro-denominated restriction to be exceeded if calculated at the relevant currency Exchange Rate in effect on the date of such refinancing, such Euro-denominated restriction shall be deemed not to have been exceeded so
long as the principal amount of such refinancing Indebtedness does not exceed the principal amount of such Indebtedness being refinanced. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.05 <U>Acts of Holders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Proof of execution of any such instrument or of a writing appointing any such
agent, or the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section&nbsp;7.01) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section&nbsp;1.05.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a
witness of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such execution is by or on behalf of any legal entity other than an
individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such instrument or writing, or the authority of the Person executing the same, may
also be proved in any other manner that the Trustee deems sufficient. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The ownership of Securities shall be proved by
the Note Register. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the
Holder of any Security shall bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered or
omitted by the Trustee or the Issuer in reliance thereon, whether or not notation of such action is made upon such Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Issuer may set a record date for purposes of determining the identity of Holders entitled to give any request, demand,
authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent authorized or permitted to be given or taken by Holders. Unless otherwise specified, if not set by the Issuer prior to
the first solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote, prior to such vote, any such record date shall be the later of 30 days prior to the first solicitation of such consent or the date
of the most recent list of Holders furnished to the Trustee prior to such solicitation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Without limiting the
foregoing, a Holder entitled to take any action hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents, each of which may do so
pursuant to such appointment with regard to all or any part of such principal amount. Any notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same
effect as if given or taken by separate Holders of each such different part. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Without limiting the generality of the
foregoing, a Holder, including DTC that is the Holder of a Global Security, may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in
this Indenture to be made, given or taken by Holders, and DTC that is the Holder of a Global Security may provide its proxy or proxies to the beneficial owners of interests in any such Global Security through such depositary&#146;s standing
instructions and customary practices. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The Issuer may fix a record date for the purpose of determining the Persons who
are beneficial owners of interests in any Global Security held by DTC entitled under the procedures of such depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice,
consent, waiver or other action provided in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to
make, give or take </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
such request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization,
direction, notice, consent, waiver or other action shall be valid or effective if made, given or taken more than 90 days after such record date. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 2 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE
SECURITIES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.01 <U>Amount of Securities</U>. The aggregate principal amount of Securities which may be authenticated and
delivered under this Indenture on the Issue Date is $400,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, the Issuer may from time to time after the Issue Date
issue Add-On Securities under this Indenture in an unlimited principal amount, so long as (i)&nbsp;the Incurrence of the Indebtedness represented by such Add-On Securities is at such time permitted by Section&nbsp;4.03 and (ii)&nbsp;such Add-On
Securities are issued in compliance with the other applicable provisions of this Indenture. With respect to any Add-On Securities issued after the Issue Date (except for Securities authenticated and delivered upon registration of, transfer of, or in
exchange for, or in lieu of, other Securities pursuant to Section&nbsp;2.07, 2.08, 2.09, 2.10, 3.06, 4.08(c) or the Appendix), there shall be (a)&nbsp;established in or pursuant to a resolution of the Board of Directors and (b)&nbsp;(i)&nbsp;set
forth or determined in the manner provided in an Officer&#146;s Certificate or (ii)&nbsp;established in one or more indentures supplemental hereto, prior to the issuance of such Add-On Securities: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the aggregate principal amount of such Add-On Securities which may be authenticated and delivered under this Indenture,
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issue price and issuance date of such Add-On Securities, including the date from which interest on such Add-On
Securities shall accrue; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) if applicable, that such Add-On Securities shall be issuable in whole or in part in the
form of one or more Global Securities and, in such case, the respective depositaries for such Global Securities, the form of any legend or legends which shall be borne by such Global Securities in addition to or in lieu of those set forth in Exhibit
A hereto and any circumstances in addition to or in lieu of those set forth in Section&nbsp;2.2 of Appendix A in which any such Global Security may be exchanged in whole or in part for Add-On Securities registered, or any transfer of such Global
Security in whole or in part may be registered, in the name or names of Persons other than the depositary for such Global Security or a nominee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any of the terms of any Add-On Securities are established by action taken pursuant to a resolution of the Board of Directors, a copy of an
appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Officer&#146;s Certificate or the indenture supplemental hereto setting
forth the terms of the Add-On Securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities, including any Add-On Securities, shall be treated as a single series for all
purposes under this Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.02
<U>Form and Dating</U>. Provisions relating to the Original Securities and the Add-On Securities are set forth in the Appendix, which is hereby incorporated in and expressly made a part of this Indenture. The (i)&nbsp;Original Securities and the
Trustee&#146;s certificate of authentication and (ii)&nbsp;any Add-On Securities (if issued as Transfer Restricted Securities) and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is
hereby incorporated in and expressly made a part of this Indenture. Any Add-On Securities issued other than as Transfer Restricted Securities and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A
hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer or any Guarantor is subject, if any,
or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuer). Each Security shall be dated the date of its authentication. The Securities shall be issuable only in registered form without interest coupons
and in denominations of $250,000 and any integral multiples of $1,000 in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.03 <U>Execution and
Authentication</U>. The Trustee shall authenticate and make available for delivery upon a written order of the Issuer (a &#147;Written Order&#148;) in the form of an Officer&#146;s Certificate (a)&nbsp;Original Securities for original issue on the
date hereof in an aggregate principal amount of $400,000,000, consisting of $400,000,000 in initial aggregate principal amount of 8.00% Senior Notes due 2023 and (b)&nbsp;subject to the terms of this Indenture, Add-On Securities in an aggregate
principal amount to be determined at the time of issuance and specified therein. Such order shall specify the amount of the Securities to be authenticated and the date on which the original issue of Securities is to be authenticated. Notwithstanding
anything to the contrary in this Indenture or the Appendix, any issuance of Securities after the Issue Date shall be in a principal amount of at least $250,000 and integral multiples of $1,000 in excess of $250,000. One Officer shall sign the
Securities for the Issuer by manual, facsimile, pdf or other electronically transmitted signature. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on a
Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A
Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Securities. Any such
appointment shall be evidenced by an instrument signed by a Responsible Officer of the Trustee, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as any Registrar, paying agent or agent for service of notices and
demands. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.04 <U>Registrar and Paying Agent</U>. (a)&nbsp;The Issuer shall maintain (i)&nbsp;an
office or agency where Securities may be presented for registration of transfer or for exchange (the &#147;Registrar&#148;), (ii)&nbsp;a transfer agent (&#147;Transfer Agent&#148;), and (ii)&nbsp;an office or agency where Securities may be presented
for payment (the &#147;Principal Paying Agent&#148;). The Registrar shall keep a register of the Securities and of their transfer and exchange (the &#147;Note Register&#148;). The Issuer may have one or more co-registrars and one or more additional
paying agents. The term &#147;Registrar&#148; includes any co-registrars. The Principal Paying Agent will be a paying agent hereunder. The Issuer initially appoints the Trustee as Registrar, Transfer Agent, Principal Paying Agent and the Securities
Custodian with respect to the Global Securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may enter into an appropriate agency agreement with any
Registrar, Transfer Agent, or paying agent not a party to this Indenture. The agreement shall implement the provisions of this Indenture that relate to such agent. The Issuer shall notify the Trustee of the name and address of any such agent. If the
Issuer fails to maintain a Registrar, Transfer Agent, or paying agent, the Trustee shall act as such and shall be entitled to appropriate compensation therefor pursuant to Section&nbsp;7.07. The Issuer or any of its domestically organized Wholly
Owned Subsidiaries may act as paying agent, Registrar, or Transfer Agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Issuer may remove any Registrar,
Transfer Agent, or paying agent upon written notice to such Registrar, Transfer Agent, or paying agent and to the Trustee; <I>provided</I>, <I>however</I>, that no such removal shall become effective until (i)&nbsp;if applicable, acceptance of an
appointment by a successor as evidenced by an appropriate agreement entered into by the Issuer and such successor Registrar, Transfer Agent, or paying agent, as the case may be, and delivered to the Trustee or (ii)&nbsp;notification to the Trustee
that the Trustee shall serve as Registrar, Transfer Agent, or paying agent until the appointment of a successor in accordance with clause (i)&nbsp;above. The Registrar, Transfer Agent, or paying agent may resign at any time upon written notice to
the Issuer and the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.05 <U>Paying Agent to Hold Money in Trust</U>. On each due date of the principal of and interest on
any Security, the Issuer shall deposit with each paying agent (or if the Issuer or a Wholly Owned Subsidiary is acting as paying agent, segregate and hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay such
principal and interest when so becoming due. The Issuer shall require each paying agent (other than the Trustee) to agree in writing that a paying agent shall hold in trust for the benefit of Holders or the Trustee all money held by a paying agent
for the payment of principal of and interest on the Securities, and shall notify the Trustee of any default by the Issuer in making any such payment. If the Issuer or a Wholly Owned Subsidiary of the Issuer acts as paying agent, it shall segregate
the money held by it as paying agent and hold it in trust for the benefit of the Persons entitled thereto. The Issuer at any time may require a paying agent to pay all money held by it to the Trustee and to account for any funds disbursed by such
paying agent. Upon complying with this Section, a paying agent shall have no further liability for the money delivered to the Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.06 <U>Holder Lists</U>. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available
to it of the names and addresses of Holders. If the Trustee is not the Registrar, the Issuer shall furnish, or cause the Registrar to furnish, to the Trustee, in writing at least five Business Days before each interest payment date and at such other
times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Holders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.07 <U>Transfer and Exchange</U>. The Securities shall be issued in registered form and
shall be transferable only upon the surrender of a Security for registration of transfer and in compliance with the Appendix. When a Security is presented to the Registrar and Transfer Agent with a request to register a transfer, the Registrar shall
register the transfer as requested if its requirements therefor are met. When Securities are presented to the Registrar and Transfer Agent with a request to exchange them for an equal principal amount of Securities of other denominations, the
Registrar and Transfer Agent shall make the exchange as requested if the same requirements are met. To permit registration of transfers and exchanges, the Issuer shall execute and the Trustee shall, upon receipt of a Written Order, authenticate
Securities at the Registrar&#146;s request. The Issuer may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges in connection with any transfer or exchange pursuant to this Section. The Issuer shall not be
required to make, and the Registrar and Transfer Agent need not register, transfers or exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or of any
Securities for a period of 15 days before a selection of Securities to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Prior to the due presentation for registration of
transfer of any Security, the Issuer, the Guarantors, the Trustee, the paying agent and the Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of
principal of and interest, if any, on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Issuer, any Guarantor, the Trustee, the paying agent or the Registrar shall be affected by notice to
the contrary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any Holder of a beneficial interest in a Global Security shall, by acceptance of such beneficial interest, agree that
transfers of beneficial interests in such Global Security may be effected only through a book-entry system maintained by (a)&nbsp;the Holder of such Global Security (or its agent) or (b)&nbsp;any Holder of a beneficial interest in such Global
Security, and that ownership of a beneficial interest in such Global Security shall be required to be reflected in a book entry. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All
Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.08 <U>Replacement Securities</U>. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that
the Security has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Trustee shall authenticate a replacement Security if the requirements of Section&nbsp;8-405 of the Uniform Commercial Code are met, such that the Holder
(a)&nbsp;satisfies the Issuer or the Trustee within a reasonable time after such Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b)&nbsp;makes such
request to the Issuer or the Trustee prior to the Security being acquired by a protected purchaser as defined in Section&nbsp;8-303 of the Uniform Commercial Code (a &#147;protected purchaser&#148;) and (c)&nbsp;satisfies any other reasonable
requirements of the Trustee. If required by the Trustee or the Issuer, such Holder shall furnish an indemnity bond sufficient in the judgment of the Trustee or the Issuer to protect the Issuer, the Trustee, a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
paying agent and the Registrar from any loss that any of them may suffer if a Security is replaced. The Issuer and the Trustee may charge the Holder for their expenses in replacing a Security
(including without limitation, attorneys&#146; fees and disbursements in replacing such Security). In the event any such mutilated, lost, destroyed or wrongfully taken Security has become or is about to become due and payable, the Issuer in its
discretion may pay such Security instead of issuing a new Security in replacement thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Every replacement Security is an additional
obligation of the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The provisions of this Section&nbsp;2.08 are exclusive and shall preclude (to the extent lawful) all other
rights and remedies with respect to the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.09
<U>Outstanding Securities</U>. Securities outstanding at any time are all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. Subject
to Section&nbsp;11.07, a Security does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Security is replaced pursuant to Section&nbsp;2.08 (other than a mutilated Security surrendered for replacement), it ceases to be
outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Security is held by a protected purchaser. A mutilated Security ceases to be outstanding upon surrender of such Security and replacement thereof
pursuant to Section&nbsp;2.08. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a paying agent segregates and holds in trust, in accordance with this Indenture, on a redemption date
or maturity date money sufficient to pay all principal and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and no paying agent is prohibited from paying such money to
the Holders on that date pursuant to the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.10 <U>Temporary Securities</U>. In the event that Definitive Securities are to be issued under the terms of this Indenture, until
such Definitive Securities are ready for delivery, the Issuer may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of Definitive Securities but may have variations that the
Issuer considers appropriate for temporary Securities. Without unreasonable delay, the Issuer shall prepare and the Trustee shall, upon receipt of a Written Order, authenticate Definitive Securities and make them available for delivery in exchange
for temporary Securities upon surrender of such temporary Securities at the office or agency of the Issuer, without charge to the Holder. Until such exchange, temporary Securities shall be entitled to the same rights, benefits and privileges as
Definitive Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.11 <U>Cancellation</U>. The Issuer at any time may deliver Securities to the Trustee for cancellation.
The Registrar and the paying agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer,
exchange, payment or cancellation and shall dispose of canceled Securities in accordance with its customary procedures. The Issuer may not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee for cancellation.
The Trustee shall not authenticate Securities in place of canceled Securities other than pursuant to the terms of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.12 <U>Defaulted Interest</U>. If the Issuer defaults in a payment of interest on the
Securities, the Issuer shall pay the defaulted interest then borne by the Securities (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are Holders on a
subsequent special record date. The Issuer shall fix or cause to be fixed any such special record date and payment date and shall promptly mail or cause to be mailed to each affected Holder a notice that states the special record date, the payment
date and the amount of defaulted interest to be paid. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.13 <U>CUSIP Numbers, ISINs, etc.</U> The Issuer in issuing the Securities
may use CUSIP numbers, ISINs and &#147;Common Code&#148; numbers (if then generally in use) and, if so, the Trustee shall use CUSIP numbers, ISINs and &#147;Common Code&#148; numbers in notices of redemption as a convenience to Holders;
<I>provided</I>, <I>however</I>, that any such notice may state that no representation is made as to the correctness of such numbers, either as printed on the Securities or as contained in any notice of a redemption that reliance may be placed only
on the other identification numbers printed on the Securities and that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall advise the Trustee of any change in the CUSIP numbers, ISINs and
&#147;Common Code&#148; numbers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.14 <U>Calculation of Principal Amount of Securities</U>. The aggregate principal amount of the
Securities, at any date of determination, shall be the principal amount of the Securities outstanding at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the Holders of a specified
percentage of the principal amount of all the Securities, such percentage shall be calculated, on the relevant date of determination, by dividing (a)&nbsp;the principal amount, as of such date of determination, of Securities, the Holders of which
have so consented, by (b)&nbsp;the aggregate principal amount, as of such date of determination, of the Securities then outstanding, in each case, as determined in accordance with the preceding sentence, Section&nbsp;2.09 and Section&nbsp;11.07 of
this Indenture. Any such calculation made pursuant to this Section&nbsp;2.14 shall be made by the Issuer and delivered to the Trustee pursuant to an Officer&#146;s Certificate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.15 <U>Additional Amounts</U>. All payments made by or on behalf of the Issuer or any Guarantor or any successor in interest to any
of the foregoing (each, a &#147;Payor&#148;) on or with respect to the Securities or any Guarantee shall be made without withholding or deduction for, or on account of, any Taxes unless such withholding or deduction is required by law. If any
deduction or withholding for, or on account of, any Taxes imposed or levied by or on behalf of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any jurisdiction from
or through which payment on the Securities or any Guarantee is made or any political subdivision or governmental authority thereof or therein having the power to tax (including the jurisdiction of any paying agent); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any other jurisdiction in which a Payor that actually makes a payment on the Securities or its Guarantee is organized or
otherwise considered to be engaged in business or resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of clause (a)&nbsp;and (b), a &#147;Relevant Taxing Jurisdiction&#148;), shall at any time be required by
law to be made from any payments made with respect to the Securities or any Guarantee, including payments of principal, redemption price, interest or premium, if any, the Payor shall pay (together with such payments) such additional amounts (the
&#147;Additional Amounts&#148;) as may be necessary in order that the net amounts received in respect of such payments, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), shall not be less
than the amounts that would have been received in respect of such payments on the Securities or the Guarantees in the absence of such withholding or deduction; provided, however, that no such Additional Amounts shall be payable for or on account of:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Taxes that would not have been so imposed or levied but for the existence of any present or former connection
between the holder (or between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor of power over, the holder, if such holder is an estate, nominee, trust, partnership, limited liability company or corporation) and the
Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case,
any connection arising solely from the acquisition, ownership or holding of such Securities or the receipt of any payment in respect thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Taxes that would not have been so imposed or levied if the holder had complied with a reasonable request in writing of
the Payor (such request being made at a time that would enable such holder acting reasonably to comply with that request) to make a declaration of nonresidence or any other claim or filing or satisfy any certification, information or reporting
requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required by the applicable law, treaty, regulation or
administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such Taxes) but only to the extent such holder is legally entitled to provide such
certification or documentation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any Taxes that are payable otherwise than by withholding or deduction from a payment
on the Securities or any Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any estate, inheritance, gift, sales, excise, transfer, personal property or
similar Taxes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any Taxes that are imposed pursuant to or required to be deducted or withheld on a payment pursuant to
the European Union Directive 2003/48/EC of 3&nbsp;June 2003 regarding the taxation of savings income (the &#147;Directive&#148;) or the Agreement between the European Community and the Swiss Confederation dated October&nbsp;26, 2004 providing for
measures equivalent to those laid down in the Directive (the &#147;Swiss Agreement&#148;) or any law implementing or complying with, or introduced in order to conform to the Directive or the Swiss Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any Taxes that are required to be deducted or withheld on a payment by a Guarantor incorporated in Switzerland and/or
having its registered office in Switzerland </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
and/or qualifying as a Swiss resident pursuant to art 9 of the Swiss Withholding Tax Act as Swiss withholding tax under the Swiss Federal Act on the Withholding Tax of 13&nbsp;October 1965
(<I>Bundesgesetz &uuml;ber die Verrechnungssteuer</I>); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any Taxes imposed in connection with a Security presented for
payment by or on behalf of a Holder who would have been able to avoid such Tax by presenting the relevant Security to another paying agent in a member state of the European Union; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) any Taxes payable under Sections 1471 through 1474 of the Code, as of the date of the Offering Memorandum (or any amended
or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements (including any intergovernmental agreements) entered into
pursuant thereto; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any Taxes if the holder is a fiduciary or partnership or Person other than the sole beneficial owner
of such payment and the Taxes that would otherwise give rise to such Additional Amounts would not have been imposed on such payment had the holder been the beneficiary, partner or sole beneficial owner, as the case may be, of such Security (but only
if there is no material cost or expense associated with transferring such Security to such beneficiary, partner or sole beneficial owner and no restriction on such transfer that is outside the control of such beneficiary, partner or sole beneficial
owner); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any Taxes payable pursuant to laws enacted by Switzerland providing for the taxation of payments according to
principles similar to those laid down in the draft legislation proposed by the Swiss Federal Council on 24&nbsp;August 2011, in particular, the principle to have a Person other than the Issuer or a Guarantor withhold or deduct tax; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) any Taxes payable pursuant to an agreement between Switzerland and another country on final withholding taxes levied by
Swiss paying agents in respect of Persons resident in the other country on income of such Person on Securities booked or deposited with a Swiss paying agent (<I>Abgeltungssteuer</I>); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any combination of the above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Such Additional Amounts shall also not be payable (x)&nbsp;if the payment could have been made without such deduction or withholding if the
relevant Security had been presented for payment (where presentation is required) within 30 days after the relevant payment was first made available for payment to the holder or (y)&nbsp;to the extent where, had the beneficial owner of the relevant
Security been the Holder of such Security, such beneficial owner would not have been entitled to payment of Additional Amounts by reason of any of clauses (1)&nbsp;to (12)&nbsp;inclusive above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Payor shall (i)&nbsp;make any required withholding or deduction and (ii)&nbsp;remit the full amount deducted or withheld to the relevant
taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. Upon request, the Payor shall use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld
from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and shall provide such certified copies to the Trustee. If, notwithstanding the efforts of such Payor to obtain such receipts, the same are not obtainable,
such Payor shall provide the Trustee with other reasonable evidence of payment. Such receipts or other evidence received by the Trustee shall be made available by the Trustee to Holders on request. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Payor shall be obligated to pay Additional Amounts under or with respect to any payment
made on the Securities or any Guarantee, at least 30 days prior to the date of such payment, the Payor shall deliver to the Trustee and applicable paying agent an Officer&#146;s Certificate stating the fact that Additional Amounts shall be payable
and the amount so payable and such other information necessary to enable the paying agent to pay Additional Amounts on the relevant payment date (unless such obligation to pay Additional Amounts arises less than 45 days prior to the relevant payment
date, in which case the Payor shall deliver such Officer&#146;s Certificate and such other information as promptly as practicable thereafter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wherever in this Indenture, the Securities or any Guarantee there is mentioned, in any context: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the payment of principal; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) redemption prices or purchase prices in connection with a redemption or purchase of Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) interest; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other amount payable on or with respect to any of the Securities or any Guarantee; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">such reference shall be deemed to include payment of Additional Amounts as described under this heading to the extent that, in such context, Additional
Amounts are, were or would be payable in respect thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Payor shall pay any present or future stamp, court or documentary Taxes, or
any other excise, property or similar Taxes that arise in any Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial resale, registration or enforcement of any Securities, Guarantee, Indenture or any other document or
instrument in relation thereto (other than a transfer of the Securities occurring after the initial resale). The foregoing obligations shall survive any termination, defeasance or discharge of this Indenture and shall apply <I>mutatis mutandis</I>
to any jurisdiction in which any successor to a Payor is organized or otherwise considered to be engaged in business or resident for Tax purposes, or any political subdivision or taxing authority or agency thereof or therein. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 3 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REDEMPTION
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.01 <U>Redemption</U>. The Securities may be redeemed, in whole, or from time to time in part, subject to the conditions and
at the redemption prices set forth in Paragraphs 5 and 6 of the form of Securities set forth in Exhibit A hereto, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to the
redemption date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.02 <U>Applicability of Article</U>. Redemption of Securities at the election of the
Issuer or otherwise, as permitted or required by any provision of this Indenture, shall be made in accordance with such provision and this Article. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.03 <U>Notices to Trustee</U>. If the Issuer elects to redeem Securities pursuant to the optional redemption provisions of Paragraph
5 or 6 of the Security, it shall notify the Trustee in writing of (i)&nbsp;the Section of this Indenture pursuant to which the redemption shall occur, (ii)&nbsp;the redemption date, (iii)&nbsp;the principal amount of Securities to be redeemed and
(iv)&nbsp;the redemption price. The Issuer shall give notice to the Trustee provided for in this paragraph at least 30 days but not more than 60 days before a redemption date if the redemption is pursuant to Paragraph 5 of the Security, unless a
shorter period is acceptable to the Trustee. Such notice shall be accompanied by an Officer&#146;s Certificate and Opinion of Counsel from the Issuer to the effect that such redemption will comply with the conditions herein. If fewer than all the
Securities are to be redeemed, the record date relating to such redemption shall be selected by the Issuer and given to the Trustee, which record date shall be not fewer than 15 days after the date of notice to the Trustee. Any such notice may be
canceled at any time prior to notice of such redemption being mailed to any Holder and shall thereby be void and of no effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
3.04 <U>Selection of Securities to Be Redeemed</U>. In the case of any redemption of less than all of the Securities, selection of Securities for redemption will be made by the Registrar pro rata, by lot or such other manner in the case of Global
Securities, as may be required by the applicable procedures of DTC; provided that no Securities of $250,000 or less shall be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption relating to such Security shall
state the portion of the principal amount thereof to be redeemed. The Registrar shall make the selection from outstanding Securities not previously called for redemption. The Registrar may select for redemption portions of the principal of
Securities that have denominations larger than $250,000. Securities and portions of them the Trustee selects shall be in amounts of $250,000 or any integral multiple of $1,000 in excess thereof. Provisions of this Indenture that apply to Securities
called for redemption also apply to portions of Securities called for redemption. The Registrar shall notify the Issuer promptly of the Securities or portions of Securities to be redeemed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.05 <U>Notice of Optional Redemption</U>. (a)&nbsp;At least 30 days but not more than 60 days before a redemption date pursuant to
Paragraph 5 or 6 of the Security, the Issuer shall mail or cause to be electronically delivered or mailed by first-class mail a notice of redemption to each Holder whose Securities are to be redeemed; <I>provided</I>, <I>however</I>, that in the
case of a Special Mandatory Redemption, such notices may be mailed less than 30 days (but at least 10 days) before the Special Mandatory Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such notice shall identify the Securities to be redeemed and shall state: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the redemption price and the amount of accrued interest to the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the name and address of the paying agent; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) that Securities called for redemption must be surrendered to the paying
agent to collect the redemption price, plus accrued interest; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if fewer than all the outstanding Securities are to be
redeemed, the certificate numbers and principal amounts of the particular Securities to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial
redemption; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) that, unless the Issuer defaults in making such redemption payment or the paying agent is prohibited from
making such payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the CUSIP number, ISIN and/or &#147;Common Code&#148; number, if any, printed on the Securities being redeemed; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN and/or &#147;Common
Code&#148; number, if any, listed in such notice or printed on the Securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) At the Issuer&#146;s written request,
the Trustee shall give the notice of redemption in the Issuer&#146;s name and at the Issuer&#146;s expense. In such event (including, for the avoidance of doubt, in the case of a Special Mandatory Redemption), the Issuer shall provide the Trustee
with the information required by this Section at least five Business Days prior to the date such notice is to be provided to Holders and such notice may not be canceled. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.06 <U>Effect of Notice of Redemption</U>. Once notice of redemption is mailed in accordance with Section&nbsp;3.05, Securities
called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, except as provided in paragraph 5 of the Securities. Upon surrender to the paying agent, such Securities shall be paid at the
redemption price stated in the notice, plus accrued interest, to, but not including, the redemption date; <I>provided</I>, <I>however</I>, that if the redemption date is after a regular record date and on or prior to the interest payment date, the
accrued interest shall be payable to the Holder of the redeemed Securities registered on the relevant record date. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.07 <U>Deposit of Redemption Price</U>. With respect to any Securities, prior to 10:00 a.m., New York City time, on the redemption
date, the Issuer shall deposit with the paying agent (or, if the Issuer or a Wholly Owned Subsidiary is the paying agent, shall segregate and hold in trust) money sufficient to pay the redemption price of and accrued interest on all Securities or
portions thereof to be redeemed on that date other than Securities or portions of Securities called for redemption that have been delivered by the Issuer to the Trustee for cancellation. On and after the redemption date, interest shall cease to
accrue on Securities or portions thereof called for redemption so long as the Issuer has deposited with the paying agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the Securities to be redeemed, unless the paying
agent is prohibited from making such payment pursuant to the terms of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.08 <U>Securities Redeemed in Part</U>. Upon surrender of a Security that is redeemed in
part, the Issuer shall execute and the Trustee shall, upon receipt of a Written Order, authenticate for the Holder (at the Issuer&#146;s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.09 <U>Special Mandatory Redemption</U>. If a Special Mandatory Redemption Event occurs, the Issuer shall, on the Special Mandatory
Redemption Date, redeem all and not less than all of the Securities outstanding as of such date, at a redemption price equal to 100% of the principal amount of the Securities, plus accrued and unpaid interest from the Issue Date to, but excluding,
the Special Mandatory Redemption Date (such redemption being referred to herein as a &#147;Special Mandatory Redemption&#148;) in accordance with the provisions of this Article 3. Upon a Special Mandatory Redemption Event, all Securities of this
series shall become due and payable on the Special Mandatory Redemption Date, regardless of whether previously called for redemption. Upon the consummation of the Wise Acquisition, this Section&nbsp;3.09 will terminate and cease to apply. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 4 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COVENANTS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.01 <U>Payment of Securities</U>. The Issuer shall pay the principal of and interest on the Securities on the dates and in
the manner provided in the Securities and in this Indenture. An installment of principal of or interest shall be considered paid on the date due if on such date the Trustee or the paying agent holds as of 11:00 a.m. New York City time money
sufficient to pay all principal and interest then due and the Trustee or the paying agent, as the case may be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue
installments of interest at the same rate borne by the Securities to the extent lawful. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.02 <U>Reports and Other
Information</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) So long as any Securities are outstanding and whether or not the Issuer is subject to
Section&nbsp;13(a) or 15(d) of the Exchange Act, the Issuer shall furnish to the Trustee: (i)&nbsp;within 65 days after the end of each of the first three fiscal quarters in each fiscal year, quarterly reports containing unaudited financial
statements (including a balance sheet and statement of income, changes in stockholders&#146; equity and cash flow) for and as of the end of such fiscal quarter and year to date period (with comparable financial statements for the corresponding
fiscal quarter and year to date period of the immediately preceding fiscal year); (ii)&nbsp;within 120 days after the end of each fiscal year, an annual report that includes all information that would be required to be filed with the SEC on Form
20-F (or any successor form); and (iii)&nbsp;at or prior to such times as would be required to be filed or furnished to the SEC as a &#147;foreign private issuer&#148; subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, all such other
reports and information that </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
the Issuer would have been required to file or furnish pursuant thereto; <I>provided</I>, <I>however</I>, that to the extent that the Issuer ceases to qualify as a &#147;foreign private
issuer&#148; within the meaning of the Exchange Act, whether or not the Issuer is then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, the Issuer shall either file or furnish with the SEC (as a &#147;voluntary filer&#148; if the Issuer
is not then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act) or furnish to the Trustee, so long as any Securities are outstanding, within 30 days of the respective dates on which the Issuer would be required to file such documents with
the SEC if it was required to file such documents under the Exchange Act, all reports and other information that would be required to be filed with (or furnished to) the SEC pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act as, in the
Issuer&#146;s sole discretion, either a &#147;foreign private issuer&#148; or a U.S. domestic registrant. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In addition,
if required by the rules and regulations of the SEC, the Issuer shall electronically file or furnish, as the case may be, a copy of all such information and reports with the SEC for public availability within the time periods specified above. In
addition, for so long as any Securities remain outstanding, the Issuer shall furnish to the Holders and prospective investors identified by a Holder, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the
Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding the foregoing, the Issuer shall be deemed to have furnished such reports referred to
in the first paragraph of this Section&nbsp;4.02 to the Trustee and the Holders of Securities if the Issuer has filed or furnished such reports with the SEC and such reports are publicly available on the SEC&#146;s website; provided, however, that
the Trustee shall have no obligation whatsoever to determine whether or not such information, documents or reports have been so filed or furnished. Delivery of such reports, information and documents to the Trustee pursuant to this covenant is for
informational purposes only and the Trustee&#146;s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer&#146;s compliance with any of
its covenants under this Indenture (as to which the Trustee is entitled to rely exclusively on Officer&#146;s Certificates). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) So long as any Securities are outstanding, the Issuer shall also: (1)&nbsp;not later than 10 Business Days after furnishing
to the Trustee the annual and quarterly reports required by clauses (i)&nbsp;and (ii)&nbsp;of Section&nbsp;4.02(a), hold a publicly accessible conference call to discuss such reports and the results of operations for the relevant reporting period
(including a question and answer portion of the call); and (2)&nbsp;issue a press release to an internationally recognized wire service no fewer than three Business Days prior to the date of the conference call required by the foregoing clause
(1)&nbsp;of this paragraph, announcing the time and date of such conference call and either including all information necessary to access the call or directing Holders of the Securities, prospective investors, broker dealers and securities analysts
to contact the appropriate person at the Issuer to obtain such information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">At any time that any of the Issuer&#146;s Subsidiaries that are Significant
Subsidiaries are Unrestricted Subsidiaries, then the quarterly and annual financial information required by the first paragraph of this Section&nbsp;4.02 shall include a reasonably detailed presentation, either on the face of the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
financial statements or in the footnotes thereto or in the &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations,&#148; of the financial condition and
results of operations of the Issuer and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Issuer, <I>provided</I> that the Issuer will not be required to provide such
separate information to the extent such Unrestricted Subsidiaries are the subject of a confidential filing of a registration statement with the SEC. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything herein to the contrary, the Issuer will not be deemed to have failed to comply with any of its agreements pursuant to
this Section&nbsp;4.02 for purposes of Section&nbsp;6.01(d) until 30 days after the date any report hereunder is required to be filed with the SEC (or otherwise made available to Holders or the Trustee) pursuant to this Section&nbsp;4.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event that the rules and regulations of the SEC permit the Issuer or any direct or indirect parent of the Issuer to report at such
parent entity&#146;s level on a consolidated basis, the Issuer may satisfy its obligations under this Section&nbsp;4.02 by furnishing financial information and reports relating to such parent; provided that the same is accompanied by consolidating
information that explains in reasonable detail the differences between the information relating to such direct or indirect parent and any of its Subsidiaries other than the Issuer and its Subsidiaries, on the one hand, and the information relating
to the Issuer, the Guarantors and the other Subsidiaries of the Issuer on a stand-alone basis, on the other hand. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.03
<U>Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</U>. (a)&nbsp;(i)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any
Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii)&nbsp;the Issuer shall not permit any of its Restricted Subsidiaries (other than a Guarantor) to issue any shares of Preferred Stock; <I>provided</I>,
<I>however</I>, that the Issuer and any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred Stock, in each case if the Fixed
Charge Coverage Ratio of the Issuer for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified
Stock or Preferred Stock is issued would have been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma application of the net proceeds therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified
Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom had occurred at the beginning of such four-quarter period; <I>provided</I>, <I>however</I>, that Indebtedness (including Acquired Indebtedness),
Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, by all Subsidiaries other than Guarantors pursuant to this paragraph may not, at the time Incurred, exceed the greater of (i)&nbsp;&#128;125.0&nbsp;million and
(ii)&nbsp;7.0% of Total Assets at such time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The limitations set forth in Section&nbsp;4.03(a) shall not apply to:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Incurrence by Constellium Holdco II B.V. or any Guarantor organized under the laws of the United States of
Indebtedness under the ABL Facility, in an aggregate principal amount that at the time of incurrence does not exceed the greater of (i)&nbsp;$100.0 million and (ii)&nbsp;the then applicable Borrowing Base, plus the amount necessary to pay any fees
and expenses, including premiums, related in connection with any refinancing, refunding, extension, renewal or replacement of Indebtedness under the ABL Facility; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Incurrence by the Issuer or any Guarantor of (A)&nbsp;Indebtedness under
Credit Facilities in an aggregate principal amount that at the time of Incurrence does not exceed the greater of (a)&nbsp;&#128;600.0&nbsp;million plus the amount necessary to pay any fees and expenses, including premiums, in connection with any
refinancing, refunding, extension, renewal or replacement of Indebtedness incurred pursuant to this clause (b)(ii)(A)(a) and (b)&nbsp;an aggregate principal amount that does not cause the Consolidated Secured Net Debt Ratio of the Issuer to exceed
1.50 to 1.00 as of the time of Incurrence (<I>provided</I> that solely for the purpose of determining compliance with this covenant, any Indebtedness that is Incurred and outstanding or proposed to be Incurred pursuant to this clause (ii)&nbsp;(in
the case of unsecured Indebtedness, to the extent such unsecured Indebtedness has not been reclassified as being Incurred pursuant to another clause of this covenant in accordance with this Indenture), will be deemed to be Secured Indebtedness for
purposes of calculating the Consolidated Secured Net Debt Ratio) and (B)&nbsp;Indebtedness under Credit Facilities incurred to refinance, refund, extend, renew or replace Indebtedness Incurred and outstanding pursuant to clause (b)(ii)(A)(b);
provided, however that (x)&nbsp;any such Indebtedness that is Incurred pursuant to this clause (B)&nbsp;satisfies the requirements of sub-clauses (1)&nbsp;through (4)&nbsp;of clause (xv)&nbsp;of this Section&nbsp;4.03(b) and (y)&nbsp;if the
Indebtedness being refinanced thereby is unsecured, such Indebtedness that is Incurred pursuant to this clause (B)&nbsp;is also unsecured; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Incurrence by the Issuer and the Guarantors of Indebtedness represented by the Original Securities and the
Guarantees; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Indebtedness, Disqualified Stock or Preferred Stock existing and/or committed to on the Issue Date (other
than Indebtedness described in clauses (i), (ii)&nbsp;and (iii)&nbsp;of this Section&nbsp;4.03(b)), but including, for the avoidance of doubt, Indebtedness incurred on the Issue Date in respect of the Issuer&#146;s &#128;240,000,000 7.000% Senior
Notes due 2023; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Indebtedness (including Capitalized Lease Obligations) Incurred by the Issuer or any of its Restricted
Subsidiaries, Disqualified Stock issued by the Issuer or any of its Restricted Subsidiaries and Preferred Stock issued by any Restricted Subsidiaries of the Issuer to finance (whether prior to or within 270 days after) the purchase, lease,
construction, repair, replacement or improvement of property (real or personal) (whether through the direct purchase of property or the Capital Stock of any Person owning such property); provided that the aggregate amount of Indebtedness,
Disqualified Stock and Preferred Stock Incurred pursuant to this clause (v)&nbsp;of this Section&nbsp;4.03(b), together with any Refinancing Indebtedness (as defined below) Incurred with respect to such Indebtedness pursuant to clause (xv)&nbsp;of
this Section&nbsp;4.03(b), shall not exceed the greater of (A)&nbsp;&#128;125.0&nbsp;million and (B)&nbsp;7.0% of Total Assets as of the date of any Incurrence pursuant to this clause (v); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Indebtedness Incurred by the Issuer or any of its Restricted Subsidiaries
constituting reimbursement obligations with respect to letters of credit and bank guarantees issued in the ordinary course of business, including without limitation letters of credit in respect of workers&#146; compensation claims, health,
disability or other benefits to employees or former employees or their families or property, casualty or liability insurance or self-insurance, and letters of credit in connection with the maintenance of, or pursuant to the requirements of,
environmental or other permits or licenses from governmental authorities, or other Indebtedness with respect to reimbursement type obligations regarding workers&#146; compensation claims; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Indebtedness arising from agreements of the Issuer or a Restricted Subsidiary providing for indemnification, adjustment
of purchase price or similar obligations, in each case, Incurred in connection with an acquisition or disposition of any business, assets or a Subsidiary of the Issuer in accordance with the terms of this Indenture, other than guarantees of
Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) Indebtedness (other than Secured Indebtedness) of the Issuer to a Restricted Subsidiary; provided that, except in
respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, any such Indebtedness owed to a Restricted Subsidiary that is not a
Guarantor shall be subordinated in right of payment to the obligations of the Issuer under the Securities; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted
Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or another Restricted Subsidiary; provided that
any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted Subsidiary that holds such shares of Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other
subsequent transfer of any such shares of Preferred Stock (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of Preferred Stock; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) Indebtedness (other than Secured Indebtedness) of a Restricted Subsidiary to the Issuer or another Restricted Subsidiary;
provided that, except in respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, if a Guarantor incurs such Indebtedness to a
Restricted Subsidiary that is not a Guarantor, such Indebtedness shall be subordinated in right of payment to the Guarantee of such Guarantor; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
results in any Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another
Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) Hedging Obligations
that are not incurred for speculative purposes and are either: (A)&nbsp;for the purpose of fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (B)&nbsp;for the
purpose of fixing or hedging currency exchange rate risk with respect to any currency exchanges; (C)&nbsp;for the purpose of fixing or hedging commodity price risk with respect to any commodity purchases or sales or (D)&nbsp;for any combination of
the foregoing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) obligations (including reimbursement obligations with respect to letters of credit and bank
guarantees) in respect of performance, bid, appeal and surety bonds and completion guarantees provided by the Issuer or any Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry practice; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary of the Issuer and Preferred Stock of any
Restricted Subsidiary of the Issuer not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified Stock
and Preferred Stock then outstanding and Incurred pursuant to this clause (xiii), does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and (B)&nbsp;5.5% of Total Assets at the time of Incurrence (it being understood that any Indebtedness
Incurred under this clause (xiii)&nbsp;shall cease to be deemed Incurred or outstanding for purposes of this clause (xiii)&nbsp;but shall be deemed Incurred for purposes of Section&nbsp;4.03(a) from and after the first date on which the Issuer, or
the Restricted Subsidiary, as the case may be, could have Incurred such Indebtedness under Section&nbsp;4.03(a) without reliance upon this clause (xiii)); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) any guarantee by (x)&nbsp;the Issuer or a Guarantor of Indebtedness or other obligations of the Issuer or any of its
Restricted Subsidiaries, or (y)&nbsp;Subsidiary that is not a Guarantor of Indebtedness or other obligations of another Subsidiary that is not a Guarantor, in each case so long as the Incurrence of such Indebtedness Incurred by the Issuer or such
Restricted Subsidiary is permitted under the terms of this Indenture; provided that if such Indebtedness is by its express terms subordinated in right of payment to the Securities or the Guarantee of such Restricted Subsidiary, as applicable, any
such guarantee of such Guarantor with respect to such Indebtedness shall be subordinated in right of payment to such Guarantor&#146;s Guarantee with respect to the Securities substantially to the same extent as such Indebtedness is subordinated to
the Securities or the Guarantee of such Restricted Subsidiary, as applicable; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the Incurrence by the Issuer or any of
its Restricted Subsidiaries of Indebtedness or Disqualified Stock or Preferred Stock of a Restricted Subsidiary </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
of the Issuer which serves to refund, refinance or defease any Indebtedness Incurred or committed or Disqualified Stock or Preferred Stock issued as permitted under Section&nbsp;4.03(a) and
clauses (iii), (iv), (v), this clause (xv), (xvi), (xx)&nbsp;and (xxi)&nbsp;of this Section&nbsp;4.03(b) or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund, refinance or defease such Indebtedness, Disqualified Stock or
Preferred Stock, including any Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including tender premiums), expenses, defeasance costs and fees in connection therewith (subject to the following proviso, &#147;Refinancing
Indebtedness&#148;); <I>provided</I>, <I>however</I>, that such Refinancing Indebtedness: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) has a Weighted Average Life
to Maturity at the time such Refinancing Indebtedness is Incurred which is not less than the shorter of (x)&nbsp;the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded, refinanced or
defeased and (y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal on the Indebtedness, Disqualified Stock and Preferred Stock being refunded, refinanced or defeased that were due on or after the date that is
one year following the maturity date of any Securities then outstanding were instead due on such date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) has a Stated
Maturity which is not earlier than the earlier of (x)&nbsp;the Stated Maturity of the Indebtedness being refunded, refinanced or defeased or (y)&nbsp;91 days following the maturity date of the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to the extent such Refinancing Indebtedness refinances (a)&nbsp;Indebtedness subordinated to the Securities or the
Guarantee of such Restricted Subsidiary, as applicable, such Refinancing Indebtedness is subordinated to the Securities or the Guarantee of such Restricted Subsidiary, as applicable, or (b)&nbsp;Disqualified Stock or Preferred Stock, such
Refinancing Indebtedness is Disqualified Stock or Preferred Stock; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) is Incurred in an aggregate amount (or if issued
with original issue discount, an aggregate issue price) that is equal to or less than the aggregate amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced plus premium,
expenses, costs and fees Incurred in connection with such refinancing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) shall not include (x)&nbsp;Indebtedness of a
Restricted Subsidiary of the Issuer that is not a Guarantor that refinances Indebtedness of the Issuer or a Restricted Subsidiary that is a Guarantor, or (y)&nbsp;Indebtedness of the Issuer or a Restricted Subsidiary that refinances Indebtedness of
an Unrestricted Subsidiary; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the case of any Refinancing Indebtedness Incurred to refinance Indebtedness
outstanding under clause (v)&nbsp;of this Section&nbsp;4.03(b), shall be deemed to have been Incurred and to be outstanding </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
under such clause (v)&nbsp;of this Section&nbsp;4.03(b), and not this clause (xv)&nbsp;for purposes of determining amounts outstanding under such clause (v)&nbsp;of this Section&nbsp;4.03(b);
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) Indebtedness, Disqualified Stock or Preferred Stock of (x)&nbsp;the Issuer or any of its Restricted Subsidiaries
Incurred to finance an acquisition or (y)&nbsp;Persons that are acquired by the Issuer or any of its Restricted Subsidiaries or merged or amalgamated with or into the Issuer or any of its Restricted Subsidiaries in accordance with the terms of this
Indenture; <I>provided</I>, <I>however</I>, that after giving effect to such acquisition, merger or amalgamation, either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) (A) the Issuer would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage
Ratio test set forth in the first sentence of Section&nbsp;4.03(a) or (B)&nbsp;the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such acquisition, merger, consolidation or amalgamation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) such Indebtedness, Disqualified Stock or Preferred Stock </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) is unsecured Subordinated Indebtedness with subordination terms no more favorable to the Holders thereof than
subordination terms that are customarily obtained in connection with &#147;high-yield&#148; senior subordinated note issuances at the time of Incurrence (<I>provided</I> that, in the case of any such Subordinated Indebtedness incurred by a Foreign
Subsidiary, such subordination terms will be customary for &#147;high-yield&#148; senior subordinated note issuances by issuers resident in the jurisdiction of formation or organization of such Foreign Subsidiary, including, without limitation,
provisions for the automatic release of guarantees upon the release of the Guarantees); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) is not Incurred while a
Default exists and no Default shall result therefrom; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) does not mature (and is not mandatorily redeemable in the
case of Disqualified Stock or Preferred Stock) and does not require any payment of principal prior to the final maturity of the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) Indebtedness Incurred under (A)&nbsp;the Factoring Facilities and (B)&nbsp;any other Qualified Receivables Financing;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar
instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; provided that such Indebtedness is extinguished within ten Business Days of its Incurrence; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) Indebtedness of the Issuer or any Restricted Subsidiary supported by a
letter of credit or bank guarantee issued pursuant to the Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary not otherwise permitted hereunder in an
aggregate principal amount or liquidation preference, together with the aggregate principal amount or liquidation preference of any Refinancing Indebtedness Incurred with respect to such Indebtedness or Disqualified Stock pursuant to clause
(xv)&nbsp;below, not exceeding at any time outstanding 100% of the net cash proceeds received by the Issuer and the Restricted Subsidiaries since immediately after the Issue Date from the issue or sale of Equity Interests of the Issuer or any direct
or indirect parent entity of the Issuer (which proceeds are contributed to the Issuer or a Restricted Subsidiary) or cash contributed to the capital of the Issuer (in each case other than proceeds of Disqualified Stock or sales of Equity Interests
to, or contributions received from, the Issuer or any of its Subsidiaries), as determined in accordance with clauses (B)&nbsp;and (C)&nbsp;of the definition of Cumulative Credit, to the extent such net cash proceeds or cash have not been applied
pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section&nbsp;4.04(b) of this Indenture or to make Permitted Investments (other than Permitted Investments specified in clauses
(1)&nbsp;and (3)&nbsp;of the definition thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxi) Indebtedness of the Issuer or any Restricted Subsidiary consisting
of (x)&nbsp;the financing of insurance premiums or (y)&nbsp;take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxii) Indebtedness arising as a result of implementing composite accounting or other cash pooling arrangements involving
solely the Issuer and the Restricted Subsidiaries or solely among Restricted Subsidiaries and entered into in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiii) Indebtedness issued by the Issuer or a Restricted Subsidiary to current or former officers, directors and employees
thereof or any direct or indirect parent thereof, or their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Issuer or any of its direct or indirect parent companies to the
extent permitted under Section&nbsp;4.04(b)(iv); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiv) Indebtedness of Restricted Subsidiaries which are not Guarantors;
<I>provided</I>, <I>however</I>, that the aggregate principal amount of Indebtedness Incurred under this clause (xxiv)&nbsp;does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and (B)&nbsp;5.5% of Total Assets at the time of Incurrence;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxv) Indebtedness incurred on behalf of, or representing guarantees of Indebtedness of, joint ventures of the Issuer or
any Restricted Subsidiary not in excess, at any one time outstanding, of the greater of (A)&nbsp;&#128;50.0&nbsp;million and (B)&nbsp;3.0% of Total Assets at the time that such Indebtedness is incurred; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxvi) Indebtedness representing deferred compensation or stock-based compensation to employees of the Issuer and the
Restricted Subsidiaries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.03, in the event that an item of
Indebtedness, Disqualified Stock or Preferred Stock meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i)&nbsp;through (xxvi)&nbsp;above or is entitled to be
Incurred pursuant to Section&nbsp;4.03(a), the Issuer shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness in any manner that complies with this Section&nbsp;4.03; provided that
all Indebtedness outstanding under the ABL Facility and the Revolving Credit Facility on the Issue Date will be deemed to have been Incurred on such date in reliance on clause (i)&nbsp;and clause (ii), respectively, of this Section&nbsp;4.03(b) and
the Issuer shall not be permitted to reclassify all or any portion of such Indebtedness. The Issuer will also be entitled to treat a portion of any Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under
Section&nbsp;4.03(a) and thereafter the remainder of such Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under this Section&nbsp;4.03(b). Accrual of interest, the accretion of accreted value, the payment of interest in
the form of additional Indebtedness with the same terms, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount or liquidation preference and increases
in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies shall not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this Section&nbsp;4.03.
Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such amount of
Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section&nbsp;4.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.04 <U>Limitation on Restricted Payments</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries
to, directly or indirectly: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) declare or pay any dividend or make any distribution on account of the Issuer&#146;s or
any of its Restricted Subsidiaries&#146; Equity Interests, including any payment made in connection with any merger, amalgamation or consolidation involving the Issuer (other than (A)&nbsp;dividends or distributions by the Issuer payable solely in
Equity Interests (other than Disqualified Stock) of the Issuer; or (B)&nbsp;dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or series of securities
issued by a Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or
series of securities); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) purchase or otherwise acquire or retire for value any Equity Interests of the Issuer or any
direct or indirect parent of the Issuer; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) make any principal payment on, or redeem, repurchase, defease or otherwise
acquire or retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Issuer or any of its Restricted Subsidiaries (other than the payment, redemption, repurchase, defeasance,
acquisition or retirement of (A)&nbsp;Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase,
defeasance, acquisition or retirement and (B)&nbsp;Indebtedness permitted under clauses (viii)&nbsp;and (x)&nbsp;of Section&nbsp;4.03(b)); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) make any Restricted Investment </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(all such payments and other actions set forth in clauses (i)&nbsp;through (iv)&nbsp;above being collectively referred to as &#147;Restricted Payments&#148;),
unless, at the time of such Restricted Payment: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no Default shall have occurred and be continuing or would occur as a
consequence thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) immediately after giving effect to such transaction on a pro forma basis, the Issuer could Incur
$1.00 of additional Indebtedness under Section&nbsp;4.03(a); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) such Restricted Payment, together with the aggregate
amount of all other Restricted Payments made by the Issuer and its Restricted Subsidiaries after the Issue Date (and not returned or rescinded) (including Restricted Payments permitted by clauses (i)&nbsp;and (viii)(b) of Section&nbsp;4.04(b), but
excluding all other Restricted Payments permitted by Section&nbsp;4.04(b)), is less than an amount equal to the Cumulative Credit. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.04(a) shall not prohibit: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of
declaration such payment would have complied with the provisions of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) (A) the redemption, repurchase,
retirement or other acquisition of any Equity Interests (&#147;Retired Capital Stock&#148;) of the Issuer or any direct or indirect parent of the Issuer or Subordinated Indebtedness of the Issuer, any direct or indirect parent of the Issuer or any
Guarantor in exchange for, or out of the proceeds of, the substantially concurrent sale of, Equity Interests of the Issuer or any direct or indirect parent of the Issuer or contributions to the equity capital of the Issuer (other than any
Disqualified Stock or any Equity Interests sold to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) (collectively, including any such contributions, &#147;Refunding
Capital Stock&#148;); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the declaration and payment of dividends on the Retired Capital Stock out of the proceeds
of the substantially concurrent sale (other than to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of its Subsidiaries) of Refunding Capital Stock; and if immediately prior to the
retirement of Retired Capital Stock, the declaration </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
and payment of dividends thereon was permitted under Section&nbsp;4.04(b)(vi) and not made pursuant to this Section&nbsp;4.04(b)(ii)(B), the declaration and payment of dividends on the Refunding
Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any direct or indirect parent of the Issuer) in an aggregate amount per year no greater than
the aggregate amount of dividends per annum that were declarable and payable on such Retired Capital Stock immediately prior to such retirement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the redemption, repurchase, defeasance or other acquisition or retirement of Subordinated Indebtedness of the Issuer or
any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale (or as promptly as practicable after giving any requisite notice to the holders of such Subordinated Indebtedness) of, new Indebtedness of the Issuer or
a Guarantor which is Incurred in accordance with Section&nbsp;4.03 so long as </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the principal amount (or accreted
value, if applicable) of such new Indebtedness does not exceed the principal amount (or accreted value, if applicable), plus any accrued and unpaid interest of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or
retired for value (plus the amount of any premium required to be paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired plus any tender premiums, defeasance costs
or other fees and expenses incurred in connection therewith), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) such Indebtedness is subordinated to the Securities or
the related Guarantee, as the case may be, at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired or retired for value, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) such Indebtedness has a final scheduled maturity date equal to or later than the earlier of (x)&nbsp;the final scheduled
maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired or (y)&nbsp;91 days following the maturity date of the Securities, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) such Indebtedness has a Weighted Average Life to Maturity at the time Incurred which is not less than the shorter of
(x)&nbsp;the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired and (y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal
on the Indebtedness being so redeemed, repurchased, defeased, acquired or retired that were due on or after the date one year following the maturity date of any Securities then outstanding were instead due on such date one year following the
maturity date of such Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the repurchase, retirement or other acquisition (or dividends to any direct or
indirect parent of the Issuer to finance any such repurchase, retirement or other acquisition) for value of Equity Interests of the Issuer or any direct or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
indirect parent of the Issuer held by any future, present or former employee, director or consultant of the Issuer or any direct or indirect parent of the Issuer or any Subsidiary of the Issuer
pursuant to any management equity plan or stock option plan or any other management or employee benefit plan or other agreement or arrangement; <I>provided</I>, <I>however</I>, that the aggregate amounts paid under this clause (iv)&nbsp;do not
exceed &#128;15.0&nbsp;million in any calendar year (with unused amounts in any calendar year being permitted to be carried over for the two succeeding calendar years); <I>provided, further, however</I>, that such amount in any calendar year may be
increased by an amount not to exceed: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the cash proceeds received by the Issuer or any of its Restricted Subsidiaries
from the sale of Equity Interests (other than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to members of management, directors or consultants of the Issuer and its
Restricted Subsidiaries or any direct or indirect parent of the Issuer that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend shall not increase
the amount available for Restricted Payments under Section&nbsp;4.04(a)(3)); plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the cash proceeds of key man life
insurance policies received by the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) or the Issuer&#146;s Restricted Subsidiaries after the Issue Date; less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the amount of any Restricted Payments previously made pursuant to Section&nbsp;4.04(b)(iv)(A) and
Section&nbsp;4.04(b)(iv)(B) </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>provided</I> that the Issuer may elect to apply all or any portion of the aggregate increase contemplated
by clauses (A)&nbsp;and (B)&nbsp;above in any calendar year; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the declaration and payment of dividends or distributions
to holders of any class or series of Disqualified Stock of the Issuer or any of its Restricted Subsidiaries issued or incurred in accordance with Section&nbsp;4.03; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) (a) the declaration and payment of dividends or distributions to holders of any class or series of Designated Preferred
Stock (other than Disqualified Stock) issued after the Issue Date, (b)&nbsp;a Restricted Payment to any direct or indirect parent of the Issuer, the proceeds of which will be used to fund the payment of dividends to holders of any class or series of
Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of the Issuer issued after the Issue Date and (c)&nbsp;the declaration and payment of dividends on Refunding Capital Stock that is Preferred Stock in excess
of the dividends declarable and payable thereon pursuant to Section&nbsp;4.04(b)(ii); <I>provided</I>, <I>however</I>, that, (x)&nbsp;for the most recently ended four full fiscal quarters for which internal financial statements are available
immediately preceding the date of issuance of such Designated Preferred Stock or Refunding Capital Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a pro forma
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
basis, the Issuer would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00 and (y)&nbsp;the aggregate amount of dividends declared and paid pursuant to subclauses (a)&nbsp;and
(b)&nbsp;of this clause (vi)&nbsp;does not exceed the net cash proceeds actually received by the Issuer from any such sale of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Investments in Unrestricted Subsidiaries and joint ventures having an aggregate Fair Market Value, taken together with
all other Investments made pursuant to this clause (vii)&nbsp;that are at that time outstanding, not to exceed the greater of (a)&nbsp;&#128;50.0&nbsp;million and (b)&nbsp;2.5% of Total Assets at the time of such Investment (with the Fair Market
Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided that the amount of Investments deemed to have been made pursuant to this clause (vii)&nbsp;at any time shall be reduced by
the Fair Market Value of the proceeds received by the Issuer and/or the Restricted Subsidiaries from the subsequent sale, disposition or other transfer of such Investments without giving effect to subsequent changes in value; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the payment of dividends on the Issuer&#146;s common stock in an aggregate amount per calendar year not to exceed the
sum of (a)&nbsp;&#128;20.0&nbsp;million, plus (b)&nbsp;6.0% of the net proceeds received after the Issue Date (including, without limitation, contributions to the Issuer with the proceeds of sales of common stock of any direct or indirect parent) by
the Issuer from any public offering of common stock of the Issuer or any direct or indirect parent of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix)
Restricted Payments that are made with Excluded Contributions; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) (a) Restricted Payments pursuant to clauses (i),
(ii)&nbsp;and (iii)&nbsp;of Section&nbsp;4.04(a) hereof after the Issue Date and (b)&nbsp;Restricted Payments pursuant to clause (iv)&nbsp;of Section&nbsp;4.04(a) hereof at any time outstanding in an aggregate amount pursuant to this clause
(x)&nbsp;not to exceed &#128;100.0 million; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the distribution, as a dividend or otherwise, of shares of Capital Stock
of, or Indebtedness owed to the Issuer or a Restricted Subsidiary of the Issuer by, Unrestricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) the
payment of dividends or other distributions to any direct or indirect parent of the Issuer in amounts required for such parent to pay federal, state or local income taxes (or other applicable political subdivision, as the case may be) imposed
directly on such parent to the extent such income taxes are attributable to the income of the Issuer and its Subsidiaries (including, without limitation, by virtue of such parent being the common parent of a consolidated or combined tax group of
which the Issuer and/or its Subsidiaries are members); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) repurchases of Equity Interests deemed to occur upon
exercise of stock options or warrants if such Equity Interests represent a portion of the exercise price of such options or warrants; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) purchases of receivables pursuant to a Receivables Repurchase Obligation in
connection with a Qualified Receivables Financing and the payment or distribution of Receivables Fees; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) payments of
cash, or dividends, distributions or advances by the Issuer or any Restricted Subsidiary to allow the payment of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital
Stock of any such Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) the repurchase, redemption or other acquisition or retirement for value of any
Subordinated Indebtedness pursuant to the provisions similar to those described under Sections 4.06 and 4.08; provided that all Securities tendered in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been
repurchased, redeemed or acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) payments or distributions to dissenting stockholders pursuant to
applicable law or in connection with a consolidation, amalgamation, merger or transfer of all or substantially all of the assets of the Issuer and its Restricted Subsidiaries, taken as a whole, that complies with Article 5 of this Indenture;
provided that as a result of such consolidation, amalgamation, merger or transfer of assets, the Issuer shall have made a Change of Control Offer (if required by this Indenture) and that all Securities tendered in connection with such Change of
Control Offer have been repurchased, redeemed or acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) other Restricted Payments; provided that
Restricted Payments may only be made pursuant to this clause (xviii)&nbsp;at such time as the Consolidated Net Debt Ratio of the Issuer and its Restricted Subsidiaries, on a pro forma basis after giving effect to such Restricted Payments, is less
than 2.00 to 1.00; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) the payment of any Restricted Payment, if applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) in amounts required for any direct or indirect parent of the Issuer, if applicable, (i)&nbsp;to pay fees and expenses
(including franchise or similar taxes) required to maintain its corporate existence and its status as a public company, customary salary, bonus and other benefits payable to, and indemnities provided on behalf of, officers and employees of any
direct or indirect parent of the Issuer, if applicable, and general corporate overhead expenses of any direct or indirect parent of the Issuer, if applicable, in each case to the extent such fees and expenses are attributable to the ownership or
operation of the Issuer, if applicable, and its Subsidiaries and (ii)&nbsp;to pay tax liabilities incurred as a result of transactions that occurred prior to the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) in amounts required for any direct or indirect parent of the Issuer, if applicable, to pay interest and/or principal on
Indebtedness the proceeds of which have been contributed to the Issuer or any of its Restricted Subsidiaries and that has been guaranteed by, or is otherwise considered Indebtedness of, the Issuer Incurred in accordance with Section&nbsp;4.03; and
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in amounts required for any direct or indirect parent of the Issuer to pay fees and expenses, other than to
Affiliates of the Issuer, related to any unsuccessful equity or debt offering of such parent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>,<I> however</I>, that at the time of, and after giving effect to, any Restricted Payment
permitted under clauses (vi), (vii), (x), (xi)&nbsp;and (xviii)&nbsp;of this Section&nbsp;4.04(b), no Default shall have occurred and be continuing or would occur as a consequence thereof.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The amount of any Restricted Payment (other than cash) will be the Fair Market Value on the date of the Restricted Payment
of the asset(s) or securities proposed to be transferred or issued by the Issuer or such Subsidiary, as the case may be, pursuant to the Restricted Payment. Except as otherwise provided herein, the Fair Market Value of any assets or securities that
are required to be valued by this Section&nbsp;4.04 will be determined in good faith by the Issuer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) As of the Issue
Date, all of the Issuer&#146;s Subsidiaries shall be Restricted Subsidiaries other than Quiver Ventures, LLC and Constellium Engley (Changchun) Automotive Structures Co Ltd. The Issuer shall not permit any Unrestricted Subsidiary to become a
Restricted Subsidiary except pursuant to the definition of &#147;Unrestricted Subsidiary.&#148; For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Issuer and its Restricted
Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of &#147;Investments.&#148; Such designation shall only
be permitted if a Restricted Payment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.05 <U>Dividend and Other Payment Restrictions Affecting Subsidiaries</U>. The Issuer shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to pay dividends or make any other
distributions to the Issuer or any of its Restricted Subsidiaries (a)&nbsp;on its Capital Stock, or (b)&nbsp;with respect to any other interest or participation in, or measured by, its profits; except in each case for such encumbrances or
restrictions existing under or by reason of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) contractual encumbrances or restrictions in effect on the Issue Date,
including pursuant to the Credit Facilities and the related documentation in effect on the Issue Date and in each case, any similar contractual encumbrances effected by any amendments, modifications, restatements, renewals, supplements, refundings,
replacements or refinancings of such agreements or instruments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) this Indenture, the Securities and the Guarantees and
the Issuer&#146;s &#128;240,000,000 7.000% Senior Notes due 2023 and the indenture relating thereto and guarantees in respect thereof (in each case, as in effect on the Issue Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) applicable law or any applicable rule, regulation or order; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any agreement or other instrument of a Person acquired by the Issuer or any
Restricted Subsidiary which was in existence at the time of such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or credit support utilized to consummate such acquisition), which encumbrance or
restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person or its Subsidiaries, or the property or assets of the Person or its Subsidiaries, so acquired; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) contracts or agreements for the sale of assets, including any restriction with respect to a Restricted Subsidiary imposed
pursuant to an agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Secured Indebtedness otherwise permitted to be Incurred pursuant to Sections 4.03 and 4.12 that limit the right of the
debtor to dispose of the assets securing such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) restrictions on cash or other deposits or net worth
imposed by customers under contracts entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) customary provisions in joint
venture agreements and other similar agreements entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) purchase money
obligations and Capitalized Lease Obligations for property acquired or leased in the ordinary course of business that impose restrictions on the property so acquired or leased; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) customary provisions contained in leases, licenses and other similar agreements entered into in the ordinary course of
business that impose restrictions on the property subject to such lease; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any encumbrance or restriction effected in
connection with (A)&nbsp;a Factoring Facility (provided that such encumbrance or restriction (i)&nbsp;exists on the date hereof or (ii)&nbsp;is in the good faith determination of the Issuer (x)&nbsp;necessary or advisable to effect such Receivables
Financing and applies only to the relevant Subsidiaries to which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring Facilities in effect on the date
hereof) or (B)&nbsp;a Qualified Receivables Financing; provided, however, that in the case of this clause (B), such encumbrances or restrictions (i)&nbsp;apply only to a Receivables Subsidiary or (ii)&nbsp;are in the good faith determination of the
Issuer (x)&nbsp;necessary or advisable to effect such Qualified Receivables Financing and applicable only to the relevant Subsidiaries to which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the
encumbrances and restrictions under the Factoring Facilities in effect on the date hereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) (A) other Indebtedness or
Disqualified Stock of the Issuer or any of its Restricted Subsidiaries, or (B)&nbsp;Preferred Stock of any Restricted Subsidiary, in each case that is Incurred subsequent to the Issue Date pursuant to Section&nbsp;4.03; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) any Restricted Investment not prohibited by Section&nbsp;4.04 and any Permitted Investment; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any encumbrances or restrictions in the Wise ABL Facility and related
documentation; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) any encumbrances or restrictions of the type referred to in clauses (a)&nbsp;and (b)&nbsp;above
imposed by any amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (a)&nbsp;through (n)&nbsp;above; <I>provided</I>
that such amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Issuer, no more restrictive with respect to such encumbrances and other restrictions
than those contained in the encumbrances or other restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.05, (i)&nbsp;the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii)&nbsp;the subordination of loans or advances made to
the Issuer or a Restricted Subsidiary of the Issuer to other Indebtedness Incurred by the Issuer or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.06 <U>Asset Sales</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make an
Asset Sale, unless (x)&nbsp;the Issuer or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined in good faith by the Issuer) of the assets
sold or otherwise disposed of, and (y)&nbsp;at least 75% of the consideration therefor received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any liabilities (as shown on the Issuer&#146;s or such Restricted Subsidiary&#146;s most recent balance sheet or in the
notes thereto) of the Issuer or any Restricted Subsidiary of the Issuer (other than liabilities that are by their terms subordinated to the Securities or any Guarantee) that are assumed by the transferee of any such assets, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) any notes or other obligations or other securities or assets received by the Issuer or such Restricted Subsidiary of the
Issuer from such transferee that are converted by the Issuer or such Restricted Subsidiary of the Issuer into cash within 180 days of the receipt thereof (to the extent of the cash received), and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) any Designated Non-cash Consideration received by the Issuer or any of its Restricted Subsidiaries in such Asset Sale
having an aggregate Fair Market Value (as determined in good faith by the Issuer), taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii)&nbsp;that is at that time outstanding, not to exceed the
greater of 2.0% of Total Assets and &#128;35.0&nbsp;million at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and
without giving effect to subsequent changes in value) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">shall be deemed to be Cash Equivalents for the purposes of this Section&nbsp;4.06(a). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 15 months after the Issuer&#146;s or any Restricted Subsidiary of the Issuer&#146;s receipt of the Net Proceeds of
any Asset Sale, the Issuer or such Restricted Subsidiary of the Issuer may apply the Net Proceeds from such Asset Sale, at its option: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to repay Indebtedness constituting Credit Facilities or Secured Indebtedness (and, if the Indebtedness repaid is revolving
credit Indebtedness, to correspondingly reduce commitments with respect thereto), Pari Passu Indebtedness (<I>provided</I> that if the Issuer or any Guarantor shall so reduce Obligations under Pari Passu Indebtedness (other than Credit Facilities or
Secured Indebtedness), the Issuer shall make an offer to all Holders of the Securities to equally and ratably reduce a pro rata principal amount of the Securities through a repurchase offer (in accordance with the procedures set forth below for an
Asset Sale Offer) at a purchase price equal to or greater than (in the Issuer&#146;s sole discretion) 100% of the principal amount thereof, plus accrued and unpaid interest, if any) or Indebtedness of a Restricted Subsidiary that is not a Guarantor,
in each case other than Indebtedness owed to the Issuer or an Affiliate of the Issuer, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to make an investment in any
one or more businesses (provided that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), assets, or property or capital
expenditures, in each case used or useful in a Similar Business, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to make an investment in any one or more
businesses (provided that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), properties or assets that replace the properties
and assets that are the subject of such Asset Sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the case of Sections 4.06(b)(ii) and (iii), a binding commitment shall be treated
as a permitted application of the Net Proceeds from the date of such commitment; provided that in the event such binding commitment is later canceled or terminated for any reason before such Net Proceeds are so applied, the Issuer or such Restricted
Subsidiary enters into another binding commitment within nine months of such cancellation or termination of the prior binding commitment; <I>provided</I>, <I>further</I> that the Issuer or such Restricted Subsidiary may only enter into such a
commitment under the foregoing provision one time with respect to each Asset Sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pending the final application of any such Net
Proceeds, the Issuer or such Restricted Subsidiary of the Issuer may temporarily reduce Indebtedness under a revolving credit facility, if any, or otherwise invest such Net Proceeds in any manner not otherwise prohibited by this Indenture. Any Net
Proceeds from any Asset Sale that are not applied as provided and within the time period set forth in the first sentence of this Section&nbsp;4.06(b) (it being understood that any portion of such Net Proceeds used to make an offer to purchase
Securities, as described </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
in clause (i)&nbsp;of this Section&nbsp;4.06(b), shall be deemed to have been invested per Section&nbsp;4.06(b), whether or not such offer is accepted) shall be deemed to constitute &#147;Excess
Proceeds.&#148; When the aggregate amount of Excess Proceeds exceeds &#128;15.0&nbsp;million, the Issuer shall make an offer to all Holders of Securities (and, at the option of the Issuer, to holders of any Pari Passu Indebtedness) (an &#147;Asset
Sale Offer&#148;) to purchase the maximum aggregate principal amount of Securities (and such Pari Passu Indebtedness), that is at least $250,000 and an integral multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at
an offer price in cash in an amount equal to 100% of the principal amount thereof (or, in the event such Pari Passu Indebtedness was issued with significant original issue discount, 100% of the accreted value thereof), plus accrued and unpaid
interest, if any (or, in respect of such Pari Passu Indebtedness, such lesser price, if any, as may be provided for by the terms of such Pari Passu Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set
forth in this Indenture. The Issuer shall commence an Asset Sale Offer with respect to Excess Proceeds within 10 Business Days after the date that Excess Proceeds exceeds &#128;15.0&nbsp;million by electronically delivering or mailing the notice
required pursuant to the terms of Section&nbsp;4.06(f), with a copy to the Trustee and paying agent. To the extent that the aggregate amount of Securities (and such Pari Passu Indebtedness) tendered pursuant to an Asset Sale Offer is less than the
Excess Proceeds, the Issuer may use any remaining Excess Proceeds for general corporate purposes. If the aggregate principal amount of Securities (and such Pari Passu Indebtedness) surrendered by Holders of such Securities (and holders of such Pari
Passu Indebtedness) thereof exceeds the amount of Excess Proceeds, the Registrar shall select the Securities to be purchased in the manner described in Section&nbsp;4.06(e). Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds
shall be reset at zero. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) To the extent that the provisions of any securities laws or regulations conflict with the
provisions of this Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the
Issuer shall deliver to the Trustee an Officer&#146;s Certificate as to (i)&nbsp;the amount of the Excess Proceeds, (ii)&nbsp;the allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset Sale Offer is being made and
(iii)&nbsp;the compliance of such allocation with the provisions of Section&nbsp;4.06(b). On such date, the Issuer shall also irrevocably deposit with the Trustee or with a paying agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is
acting as the paying agent, segregate and hold in trust) an amount equal to the Excess Proceeds to be invested in Cash Equivalents, as directed in writing by the Issuer, and to be held for payment in accordance with the provisions of this
Section&nbsp;4.06. Upon the expiration of the period for which the Asset Sale Offer remains open (the &#147;Offer Period&#148;), the Issuer shall deliver to the Trustee for cancellation the Securities or portions thereof that have been properly
tendered to and are to be accepted by the Issuer. The Trustee (or the paying agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment to each tendering Holder in the amount of the purchase price. In the event that the
Excess Proceeds delivered by the Issuer to the Trustee are greater than the purchase price of the Securities tendered, the Trustee shall deliver the excess to the Issuer immediately after the expiration of the Offer Period for application in
accordance with Section&nbsp;4.06. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Holders electing to have a Security purchased shall be required to surrender
the Security, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. Holders shall be entitled to withdraw their election if the Trustee or the Issuer
receives not later than one Business Day prior to the purchase date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered by the Holder for purchase and a statement that
such Holder is withdrawing his election to have such Security purchased. If at the end of the Offer Period more Securities (and such Pari Passu Indebtedness) are tendered pursuant to an Asset Sale Offer than the Issuer is required to purchase,
selection of such Securities for purchase shall be made by the Registrar pro rata, by lot or such other manner in the case of Global Securities, as may be required by the applicable procedures of DTC; provided that no Securities of $250,000 or less
shall be purchased in part. Selection of such Pari Passu Indebtedness shall be made pursuant to the terms of such Pari Passu Indebtedness. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notices of an Asset Sale Offer shall be electronically delivered or mailed by first class mail, postage prepaid by the
Issuer, at least 30 but not more than 60 days before the purchase date to each Holder of Securities at such Holder&#146;s registered address. If any Security is to be purchased in part only, any notice of purchase that relates to such Security shall
state the portion of the principal amount thereof that has been or is to be purchased. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The provisions under this
Indenture relating to the Issuer&#146;s obligation to make an Asset Sale Offer may be waived or modified with the written consent of Holders of a majority in principal amount of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.07 <U>Transactions with Affiliates</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions,
contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an &#147;Affiliate Transaction&#148;) involving aggregate consideration in excess of
&#128;10.0&nbsp;million, unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) such Affiliate Transaction is on terms that are not materially less favorable to the
Issuer or the relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) with respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in
excess of &#128;25.0&nbsp;million (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of inventory), the Issuer delivers to the Trustee an Officer&#146;s Certificate certifying that such
Affiliate Transaction complies with clause (i)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) with respect to any Affiliate Transaction or series of
related Affiliate Transactions involving aggregate consideration in excess of &#128;50.0 million </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
(excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of inventory), the Issuer delivers to the Trustee a resolution adopted in good
faith by the majority of the Board of Directors of the Issuer, approving such Affiliate Transaction and set forth in an Officer&#146;s Certificate certifying that such Affiliate Transaction complies with clause (i)&nbsp;above. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.07(a) shall not apply to the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) transactions between or among the Issuer and/or any of its Restricted Subsidiaries (or an entity that becomes a Restricted
Subsidiary as a result of such transaction) and any merger, consolidation or amalgamation of the Issuer and any direct parent of the Issuer; provided that at the time of such merger, consolidation or amalgamation such parent shall have no material
liabilities and no material assets other than cash, Cash Equivalents and the Capital Stock of the Issuer and such merger, consolidation or amalgamation is otherwise in compliance with the terms of this Indenture and effected for a bona fide business
purpose; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Restricted Payments permitted by Section&nbsp;4.04 and Permitted Investments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the payment of reasonable and customary fees and reimbursement of expenses paid to, and indemnity provided on behalf of,
officers, directors, employees or consultants of the Issuer or any Restricted Subsidiary or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) transactions in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivered to the Trustee a
letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or meets the requirements of clause (i)&nbsp;of Section&nbsp;4.07(a); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) payments or loans (or cancellation of loans) to directors, officers, employees or consultants which are approved by a
majority of the Board of Directors of the Issuer in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) any agreement as in effect as of the Issue Date or
any amendment thereto (so long as any such agreement together with all amendments thereto, taken as a whole, is not more disadvantageous to the Holders of the Securities in any material respect than the original agreement as in effect on the Issue
Date) or any transaction contemplated thereby as determined in good faith by the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the existence of, or the
performance by the Issuer or any of its Restricted Subsidiaries of its obligations under the terms of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the
Issue Date and any transaction, agreement or arrangement in effect on the Issue Date and described in the Offering Memorandum (or the documents incorporated by reference therein) and, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
in each case, any amendment thereto or similar transactions, agreements or arrangements which it may enter into thereafter; <I>provided</I>, <I>however</I>, that the existence of, or the
performance by the Issuer or any of its Restricted Subsidiaries of its obligations under, any future amendment to any such existing transaction, agreement or arrangement or under any similar transaction, agreement or arrangement entered into after
the Issue Date shall only be permitted by this clause (vii)&nbsp;to the extent that the terms of any such existing transaction, agreement or arrangement together with all amendments thereto, taken as a whole, or new transaction, agreement or
arrangement are not otherwise more disadvantageous to the Holders of the Securities in any material respect than the original transaction, agreement or arrangement as in effect on the Issue Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) (A) transactions with customers, clients, suppliers or purchasers or sellers of goods or services, or transactions
otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this Indenture, which are fair to the Issuer and its Restricted Subsidiaries in the
reasonable determination of the Issuer, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party or (B)&nbsp;transactions with joint ventures or Unrestricted Subsidiaries entered into in
the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) any transaction effected as part of a Factoring Facility or a Qualified Receivables
Financing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) the issuance of Equity Interests (other than Disqualified Stock) of the Issuer to any Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the issuances of securities or other payments, loans (or cancellation of loans), awards or grants in cash, securities or
otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Issuer or any direct or indirect parent of the Issuer or of a
Restricted Subsidiary of the Issuer, as appropriate, in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) transactions permitted by, and complying with,
Sections 4.06 and/or 5.01; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) transactions between the Issuer or any of its Restricted Subsidiaries and any Person, a
director of which is also a director of the Issuer; <I>provided</I>, <I>however</I>, that such director abstains from voting as a director of the Issuer or such direct or indirect parent, as the case may be, on any matter involving such other
Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) pledges of Equity Interests of Unrestricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the provision to Unrestricted Subsidiaries of cash management, accounting and other overhead services in the ordinary
course of business undertaken in good faith and not for the purpose of circumventing any covenant set forth in this Indenture; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) any employment agreements entered into by the Issuer or any of its
Restricted Subsidiaries in the ordinary course of business, and any termination of employment agreements and payments in connection therewith at the net present value of future payments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) intercompany transactions undertaken in good faith for the purpose of improving the consolidated tax efficiency of the
Issuer and its Subsidiaries and not for the purpose of circumventing any covenant set forth in this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) the
entering into of any tax sharing agreement or arrangement providing for, and the making of, any payments permitted by Section&nbsp;4.04(b)(xii); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) (A) payments made to the Issuer or any of its Restricted Subsidiaries by Quiver Ventures, LLC in connection with tax
sharing arrangements and (B)&nbsp;any repayments or reimbursements by the Issuer or any of its Restricted Subsidiaries to Quiver Ventures, LLC to the extent that amounts paid thereby pursuant to clause (A)&nbsp;are in excess of the ultimate tax
liability attributable thereto, in each case consistent with past practice of the Issuer and its Restricted Subsidiaries for other consolidated groups; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) any agreements or arrangements between a third party and an Affiliate of the Issuer that are acquired or assumed by the
Issuer or any Restricted Subsidiary in connection with an acquisition or merger of such third party (or assets of such third party) by or with the Issuer or any Restricted Subsidiary; provided that (A)&nbsp;such acquisition or merger is permitted
under this Indenture and (B)&nbsp;such agreements or arrangements are not entered into in contemplation of such acquisition or merger or otherwise for the purpose of avoiding the restrictions imposed by this section. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.08 <U>Change of Control</U>. (a)&nbsp;Upon a Change of Control, each Holder shall have the right to require the Issuer to repurchase
all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date), in accordance with the terms contemplated in this Section&nbsp;4.08; <I>provided</I>, <I>however</I>, that notwithstanding the occurrence of a Change of Control,
the Issuer shall not be obligated to purchase any Securities pursuant to this Section&nbsp;4.08 in the event that it has exercised its right to redeem such Securities in accordance with Article 3 of this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 30 days following any Change of Control, except to the extent that the Issuer has exercised its right to redeem the
Securities in accordance with Article 3 of this Indenture, the Issuer shall electronically deliver or mail a notice (a &#147;Change of Control Offer&#148;) to each Holder with a copy to the Trustee and paying agent stating: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) that a Change of Control has occurred and that such Holder has the right to require the Issuer to repurchase such
Holder&#146;s Securities at a repurchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the Holders of record on a record date to receive
interest on the relevant interest payment date); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the circumstances and relevant facts and financial information regarding
such Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the repurchase date (which shall be no earlier than 30 days nor later than 60 days from the
date such notice is electronically delivered or mailed, except that such notice may provide that, if the Change of Control does not occur on the repurchase date so designated, then the repurchase date may be delayed until such time as the applicable
Change of Control shall occur); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the instructions determined by the Issuer, consistent with this Section&nbsp;4.08,
that a Holder must follow in order to have its Securities purchased; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if such notice is electronically delivered or
mailed prior to the occurrence of a Change of Control pursuant to a definitive agreement for the Change of Control, that such offer is conditioned on the occurrence of such Change of Control. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Holders electing to have a Security purchased shall be required to surrender the Security, with an appropriate form duly
completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. The Holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day
prior to the purchase date a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered for purchase by the Holder and a statement that such Holder is withdrawing his election to
have such Security purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the purchase date, all Securities purchased by the Issuer under this Section&nbsp;4.08 shall be delivered to the Trustee
for cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest to the Holders entitled thereto. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) For the avoidance of doubt, a Change of Control Offer may be made in advance of a Change of Control, and be conditional
upon such Change of Control, if a definitive agreement is in place in respect of the Change of Control at the time of making of the Change of Control Offer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the foregoing provisions of this Section&nbsp;4.08, the Issuer shall not be required to make a Change of
Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section&nbsp;4.08 applicable to a Change of Control Offer made
by the Issuer and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) If Holders of not less than 90% in aggregate principal amount of the
outstanding Securities validly tender and do not withdraw such Securities in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of the Issuer as described above, purchases all of the Securities
validly tendered and not withdrawn by such Holders, the Issuer or such third party will have the right, upon not less than 30 nor more than 60 days&#146; prior notice, given not more than 30&nbsp;days following such purchase pursuant to the Change
of Control Offer described above, to repurchase all Securities that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest to but excluding the date of repurchase.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) Securities repurchased by the Issuer pursuant to a Change of Control Offer will have the status of Securities issued
but not outstanding or will be retired and canceled at the option of the Issuer. Securities purchased by a third party pursuant to the preceding clause (f)&nbsp;will have the status of Securities issued and outstanding. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) At the time the Issuer delivers Securities to the Trustee which are to be accepted for purchase, the Issuer shall also
deliver an Officer&#146;s Certificate stating that such Securities are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section&nbsp;4.08. A Security shall be deemed to have been accepted for purchase at the time the
Trustee, directly or through an agent, mails or delivers payment therefor to the surrendering Holder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Prior to any
Change of Control Offer, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate stating that all conditions precedent contained herein to the right of the Issuer to make such offer have been complied with. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) To the extent that the provisions of any securities laws or regulations conflict with the provisions of this
Section&nbsp;4.08, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section&nbsp;4.08 by virtue thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The provisions under this Indenture relating to the Issuer&#146;s obligation to make an offer to repurchase Securities as a
result of a Change of Control may be waived or modified with the written consent of the Holders of a majority in principal amount of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.09 <U>Compliance Certificate</U>. The Issuer shall deliver to the Trustee within 120 days after the end of each fiscal year of the
Issuer, beginning with the fiscal year end on December&nbsp;31, 2014, an Officer&#146;s Certificate stating that in the course of the performance by the signers of their duties as Officers of the Issuer they would normally have knowledge of any
Default and whether or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe the Default, its status and what action the Issuer is taking or proposes to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.10 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.11 <U>Future Guarantors</U>. (a)&nbsp;The Issuer shall cause each Restricted Subsidiary (unless such Subsidiary is a Receivables
Subsidiary) that guarantees any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Indebtedness under Credit Facilities of (i)&nbsp;the Issuer or (ii)&nbsp;any of the Guarantors, on the Issue Date or at any time thereafter, to execute and deliver to the Trustee a supplemental
indenture substantially in the form of Exhibit B pursuant to which such Subsidiary shall guarantee the Issuer&#146;s Obligations under the Securities and this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding Section&nbsp;4.11(a), none of Wise Metals Intermediate Holdings LLC or its direct or indirect Subsidiaries shall be
required to provide a Guarantee to the extent that such action would violate any Wise Guarantee Restriction. After the consummation of the Wise Acquisition, to the extent the provision of a Guarantee would otherwise no longer violate a Wise
Guarantee Restriction or the applicable Wise Guarantee Restriction no longer applies, the Issuer will, subject to Section&nbsp;4.11(a), cause Wise Metals Intermediate Holdings LLC and its applicable direct and indirect Subsidiaries to execute and
deliver to the Trustee a supplemental indenture substantially in the form of Exhibit B pursuant to which Wise Metals Intermediate Holdings LLC and/or the applicable direct and indirect Subsidiaries will guarantee the Issuer&#146;s Obligations under
the Securities and this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) None of the Wise Entities may guarantee any Indebtedness of the Issuer or any of the Guarantors,
in each case unless (a)&nbsp;the aggregate outstanding principal amount of all Indebtedness of the Issuer or any of the Guarantors guaranteed by one or more Wise Entities (excluding any such Indebtedness for which all of the Wise Entities that
guarantee such Indebtedness are Guarantors) does not exceed &#128;50&nbsp;million or (b)&nbsp;each Wise Entity that guarantees Indebtedness of the Issuer or any of the Guarantors also provides a Guarantee in accordance with subsection 4.11(a)
hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.12 <U>Liens</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or
indirectly, create, Incur or suffer to exist any Lien on any asset or property of the Issuer or such Restricted Subsidiary securing Indebtedness unless the Securities are equally and ratably secured with (or on a senior basis to, in the case of
obligations subordinated in right of payment to the Securities) the obligations so secured until such time as such obligations are no longer secured by a Lien. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;4.12(a) shall not require the Issuer or any Restricted Subsidiary of the Issuer to secure the Securities if
the Lien consists of a Permitted Lien. Any Lien that is granted to secure the Securities or such Guarantee under Section&nbsp;4.12(a) shall be automatically released and discharged at the same time as the release of the Lien that gave rise to the
obligation to secure the Securities or such Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.13 <U>Maintenance of Office or Agency</U>. (a)&nbsp;The Issuer shall
maintain an office or agency (which may be an office of the Trustee or an Affiliate of the Trustee or Registrar) where Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer in
respect of the Securities and this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee as set forth in Section&nbsp;11.03.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may also from time to time designate one or more other offices or
agencies where the Securities may be presented or surrendered for any or all such purposes and may from time to time rescind such designations; <I>provided</I>, <I>however</I>, that no such designation or rescission shall in any manner relieve the
Issuer of its obligation to maintain an office or agency for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Issuer hereby designates the corporate trust office of the Trustee or its Agent as such office or agency of the Issuer
in accordance with Section&nbsp;2.04. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.14 <U>Termination and Suspension of Certain Covenants</U>. (a)&nbsp;If on any date
following the Issue Date (i)&nbsp;the Securities have Investment Grade Ratings from both Rating Agencies, and the Issuer has delivered an Officer&#146;s Certificate of such Investment Grade Ratings to the Trustee, and (ii)&nbsp;no Default has
occurred and is continuing under this Indenture (the occurrence of the events described in the foregoing clauses (i)&nbsp;and (ii)&nbsp;being collectively referred to as a &#147;Covenant Suspension Event&#148;), then, beginning on such date, the
Issuer and its Restricted Subsidiaries will not be subject to Section&nbsp;4.03 hereof, Section&nbsp;4.04 hereof, Section&nbsp;4.05 hereof, Section&nbsp;4.06 hereof, Section&nbsp;4.07 hereof, Section&nbsp;4.08 hereof, Section&nbsp;4.11 hereof,
clause (iv)&nbsp;of Section&nbsp;5.01(a) hereof, Section&nbsp;5.01(b) hereof and the penultimate paragraph of Section&nbsp;5.01 hereof (collectively, the &#147;Suspended Covenants&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In the event that the Issuer and the Restricted Subsidiaries are not subject to the Suspended Covenants under this
Indenture for any period of time as a result of the foregoing, and on any subsequent date (the &#147;Reversion Date&#148;) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Securities
below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries shall thereafter again be subject to the Suspended Covenants with respect to future events. The period of time between the Covenant Suspension Event and the Reversion
Date is referred to herein as the &#147;Suspension Period&#148;. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding that the Suspended Covenants may be
reinstated, no Default will be deemed to have occurred as a result of a failure to comply with the Suspended Covenants during the Suspension Period. During any Suspension Period, the Issuer may not designate any Subsidiary as an Unrestricted
Subsidiary unless the Issuer would have been permitted to designate such Subsidiary as an Unrestricted Subsidiary if a Suspension Period had not been in effect for any period, and such designation shall be deemed to have created a Restricted Payment
pursuant to Section&nbsp;4.04 following the Reversion Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the Reversion Date, all Indebtedness Incurred, or
Disqualified Stock or Preferred Stock issued, during the Suspension Period will be classified to have been Incurred or issued pursuant to Section&nbsp;4.03(a) or one of the clauses set forth in Section&nbsp;4.03(b) (in each case, to the extent such
Indebtedness would be permitted to be Incurred thereunder as of the Reversion Date and after giving effect to Indebtedness Incurred prior to the Suspension Period and outstanding on the Reversion Date). To the extent such Indebtedness or
Disqualified Stock or Preferred Stock would not be so permitted to be Incurred or issued pursuant to Section&nbsp;4.03(a) or Section&nbsp;4.03(b), such Indebtedness or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Disqualified Stock or Preferred Stock will be deemed to have been outstanding on the Issue Date, so that it is classified as permitted under Section&nbsp;4.03(b)(iv). For purposes of
Section&nbsp;4.11, all Indebtedness Incurred during the Suspension Period and outstanding on the Reversion Date by any Restricted Subsidiary that is not a Guarantor will be deemed to have been Incurred on the Reversion Date. Calculations made after
the Reversion Date of the amount available to be made as Restricted Payments under Section&nbsp;4.04 will be made as though Section&nbsp;4.04 had been in effect since the Issue Date and throughout the Suspension Period. Accordingly, Restricted
Payments made during the Suspension Period will reduce the amount available to be made as Restricted Payments under Section&nbsp;4.04(a) and the items specified in clauses (1)&nbsp;through (6)&nbsp;of the definition of &#147;Cumulative Credit&#148;
will increase the amount available to be made as Restricted Payments under the first paragraph thereof. For purposes of determining compliance with Section&nbsp;4.06 on the Reversion Date, the Net Proceeds from all Asset Sales not applied in
accordance with the covenant will be deemed to be reset to zero. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) In addition, in the event that the Issuer and the
Restricted Subsidiaries are not subject to the Suspended Covenants under this Indenture for any period as a result of the foregoing, and on any subsequent date the Issuer or any of its Affiliates enters into an agreement to effect a transaction that
would result in a Change of Control and one or more of the Rating Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency to withdraw
its Investment Grade Rating or downgrade the ratings assigned to the Securities below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries will thereafter again be subject to Section&nbsp;4.08 hereof until the occurrence, if
any, of another Covenant Suspension Event, or the termination of such agreement, or the withdrawal by such Rating Agency of such indication, whichever occurs earliest. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 5 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUCCESSOR
COMPANY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5.01 <U>When Issuer May Merge or Transfer Assets</U>. (a)&nbsp;The Issuer shall not, directly or indirectly,
consolidate, amalgamate or merge with or into or wind up or convert into (whether or not the Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in
one or more related transactions, to any Person unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Issuer is the surviving Person or the Person formed by or
surviving any such consolidation, amalgamation, merger, winding up or conversion (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or
limited liability company organized or other Person existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (the Issuer or such
Person, as the case may be, being herein called the &#147;Successor Company&#148;); <I>provided</I> that in the case where the surviving Person is not a corporation or limited liability company (or equivalent of a corporation or limited liability
company in any permitted jurisdiction listed in this clause (i)), a co-obligor of the Securities is a corporation; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Successor Company (if other than the Issuer) expressly assumes all the
obligations of the Issuer under this Indenture and the Securities pursuant to supplemental indentures or other documents or instruments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) immediately after giving effect to such transaction (and treating any Indebtedness which becomes an obligation of the
Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction) no Default shall have occurred and be continuing;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) immediately after giving pro forma effect to such transaction, as if such transaction had occurred at the beginning
of the applicable four-quarter period (and treating any Indebtedness which becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such
Restricted Subsidiary at the time of such transaction), either </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the Successor Company would be permitted to Incur at
least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Fixed Charge Coverage Ratio for the Successor Company and its Restricted Subsidiaries would be equal to or greater
than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if the Successor
Company is not the Issuer, each Guarantor, unless it is the other party to the transactions described above, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person&#146;s obligations under this Indenture and the
Securities; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) the Successor Company (if other than the Issuer) shall have delivered to the Trustee an
Officer&#146;s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indentures (if any) comply with this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Successor Company (if other than the Issuer) shall succeed to, and be substituted for, the Issuer under this Indenture and the Securities,
and in such event the Issuer will automatically be released and discharged from its obligations under this Indenture and the Securities. Notwithstanding the foregoing clauses (iii)&nbsp;and (iv)&nbsp;of this Section&nbsp;5.01(a), (A)&nbsp;any
Restricted Subsidiary may merge, consolidate or amalgamate with or transfer all or part of its properties and assets to the Issuer or to another Restricted Subsidiary, and (B)&nbsp;the Issuer may merge, consolidate or amalgamate with an Affiliate
incorporated solely for the purpose of reincorporating the Issuer in any country in the European Union, Switzerland, a state of the United States, the District of Columbia or any territory of the United States, so long as the amount of Indebtedness
of the Issuer and its Restricted Subsidiaries is not increased thereby. This Article 5 will not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Issuer and its Restricted Subsidiaries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Subject to the provisions of Section&nbsp;10.03 (which govern the release of
a Guarantee upon the sale or disposition of a Restricted Subsidiary of the Issuer that is a Guarantor), no Guarantor shall, and the Issuer shall not permit any Guarantor to, consolidate, amalgamate or merge with or into or wind up into (whether or
not such Guarantor is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to, any Person unless: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) either (A)&nbsp;such Guarantor is the surviving Person or the Person formed by or surviving any such consolidation,
amalgamation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability company or other Person organized or
existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (such Guarantor or such Person, as the case may be, being herein called the
&#147;Successor Guarantor&#148;) and the Successor Guarantor (if other than such Guarantor) expressly assumes all the obligations of such Guarantor under this Indenture and such Security, such Guarantor&#146;s Guarantee pursuant to a supplemental
indenture or other documents or instruments, or (B)&nbsp;such sale or disposition or consolidation, amalgamation or merger is not in violation of Section&nbsp;4.06; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the case of clause (i)(A) above, the Successor Guarantor (if other than such Guarantor) shall have delivered or caused
to be delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in this Indenture, the Successor Guarantor (if other than such Guarantor) will succeed to, and be substituted
for, such Guarantor under this Indenture and such Guarantor&#146;s Guarantee, and such Guarantor will automatically be released and discharged from its obligations under this Indenture and such Guarantor&#146;s Guarantee. Notwithstanding the
foregoing, (1)&nbsp;a Guarantor may merge, amalgamate or consolidate with an Affiliate incorporated solely for the purpose of reincorporating such Guarantor in any country in the European Union, Switzerland, the United States, or a state of the
United States, the District of Columbia or any territory of the United States so long as the amount of Indebtedness of the Guarantor is not increased thereby and (2)&nbsp;a Guarantor may merge, amalgamate or consolidate with another Guarantor or the
Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, notwithstanding the foregoing, any Guarantor may consolidate, amalgamate or merge with or into or wind up into, or
sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets (collectively, a &#147;Transfer&#148;) to (x)&nbsp;the Issuer or any Guarantor or (y)&nbsp;any Restricted Subsidiary of the Issuer
that is not a Guarantor; provided that at the time of each such Transfer pursuant to clause (y)&nbsp;the aggregate </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount of all such Transfers since the Issue Date shall not exceed 5.0% of the consolidated assets of the Issuer and the Guarantors as shown on the most recent available balance sheet of the
Issuer and the Restricted Subsidiaries after giving effect to each such Transfer and including all Transfers occurring from and after the Issue Date. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 6 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFAULTS AND
REMEDIES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.01 <U>Events of Default</U>. An &#147;Event of Default&#148; with respect to the Securities occurs if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) there is a default in any payment of interest (including any Additional Amounts) on any Security, when the same becomes due
and payable, and such default continues for a period of 30 days, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) there is a default in the payment of principal or
premium, if any, of any Security, when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer or any Restricted Subsidiary fails to comply with its obligations under Section&nbsp;5.01, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the Issuer or any Restricted Subsidiary fails to comply with any of its agreements in the Securities or this Indenture
(other than those referred to in clause (a), (b)&nbsp;or (c)&nbsp;above) and such failure continues for 60 days after the notice specified below, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the Issuer or any Significant Subsidiary fails to pay any Indebtedness (other than Indebtedness owing to the Issuer or a
Restricted Subsidiary) within any applicable grace period after final maturity or the acceleration of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of such Indebtedness unpaid or accelerated
exceeds &#128;50.0&nbsp;million or its foreign currency equivalent, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) the Issuer or any Significant Subsidiary pursuant
to or within the meaning of any Bankruptcy Law: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) commences a voluntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) consents to the entry of an order for relief against it in an involuntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) consents to the appointment of a Custodian of it or for any substantial part of its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any foreign laws relating
to insolvency, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) is for relief against the Issuer or any Significant Subsidiary in an involuntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) appoints a Custodian of the Issuer or any Significant Subsidiary or for any substantial part of its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) orders the winding up or liquidation of the Issuer or any Significant Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 60 days, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the Issuer or any Significant Subsidiary fails to pay final judgments aggregating in excess of &#128;50.0&nbsp;million or
its foreign currency equivalent (net of any amounts which are covered by enforceable insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period of 60 days following the entry thereof or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any Guarantee of a Significant Subsidiary with respect to the Securities ceases to be in full force and effect (except as
contemplated by the terms thereof) or any Guarantor that qualifies as a Significant Subsidiary denies or disaffirms its obligations under this Indenture or any Guarantee with respect to the Securities and such Default continues for 10 days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary
or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The term &#147;Bankruptcy Law&#148; means Title 11, United States Code, or any similar federal or state law or similar applicable law of any
jurisdiction for the relief of debtors. The term &#147;Custodian&#148; means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Default under clause (d)&nbsp;above shall not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal
amount of the Securities notify the Issuer of the Default and the Issuer does not cure such Default within the time specified in clause (d)&nbsp;above after receipt of such notice. Such notice must specify the Default, demand that it be remedied and
state that such notice is a &#147;Notice of Default.&#148; The Issuer shall deliver to the Trustee, within thirty (30)&nbsp;days after the occurrence thereof, written notice in the form of an Officer&#146;s Certificate of any event which is, or with
the giving of notice or the lapse of time or both would become, an Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.02 <U>Acceleration</U>. If an Event of Default (other than an Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with
respect to the Issuer) occurs with respect to the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Securities and is continuing, the Trustee or the Holders of at least 25% in principal amount of Securities, by notice to the Issuer may declare the principal of, premium, if any, and accrued but
unpaid interest on all the Securities to be due and payable; <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be effective until the earlier of (i)&nbsp;five (5)&nbsp;Business
Days after the giving of written notice to the Issuer and the Representative under the Bank Credit Facilities and (ii)&nbsp;the day on which any Bank Indebtedness is accelerated. Upon such a declaration, such principal and interest shall be due and
payable immediately. If an Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer occurs, the principal of, premium, if any, and interest on all the Securities shall become and be immediately due and payable
without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in principal amount of the outstanding Securities by notice to the Trustee may rescind any such acceleration and its consequences. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event of any Event of Default specified in Section&nbsp;6.01(e), such Event of Default and all consequences thereof (excluding,
however, any resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by the Trustee or the Holders of the Securities, if within 20 days after such Event of Default arose the Issuer delivers an
Officer&#146;s Certificate to the Trustee stating that (x)&nbsp;the Indebtedness or guarantee that is the basis for such Event of Default has been discharged or (y)&nbsp;the holders thereof have rescinded or waived the acceleration, notice or action
(as the case may be) giving rise to such Event of Default or (z)&nbsp;the default that is the basis for such Event of Default has been cured, it being understood that in no event shall an acceleration of the principal amount of the Securities as
described above be annulled, waived or rescinded upon the happening of any such events. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.03 <U>Other Remedies</U>. If an Event
of Default occurs and is continuing, the Trustee may pursue any available remedy at law or in equity to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the
proceeding. A delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is
exclusive of any other remedy. To the extent required by law, all available remedies are cumulative. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.04 <U>Waiver of Past
Defaults</U>. Provided the Securities are not then due and payable by reason of a declaration of acceleration, the Holders of a majority in principal amount of the outstanding Securities by written notice to the Trustee may waive an existing Default
or Event of Default and its consequences except (a)&nbsp;a Default in the payment of the principal of or interest on a Security, (b)&nbsp;a Default arising from the failure to redeem or purchase any Security when required pursuant to the terms of
this Indenture or (c)&nbsp;a Default in respect of a provision that under Section&nbsp;9.02 cannot be amended without the consent of each Holder affected. When a Default is waived, it is deemed cured and the Issuer, the Trustee and the Holders will
be restored to their former positions and rights under this Indenture, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.05 <U>Control by Majority</U>. The Holders of a majority in principal amount of the
outstanding Securities may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction
that conflicts with law or this Indenture or, subject to Section&nbsp;7.01, is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal or financial liability. Prior to taking any action under this
Indenture, the Trustee shall be entitled to indemnification and security satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.06 <U>Limitation on Suits</U>. (a)&nbsp;Except to enforce the right to receive payment of principal, premium (if any) or interest
when due, no Holder may pursue any remedy with respect to this Indenture or the Securities unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Holder gives to
the Trustee written notice stating that an Event of Default is continuing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Holders of at least 25% in principal
amount of the outstanding Securities make a written request to the Trustee to pursue the remedy; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such Holder or
Holders offer to the Trustee reasonable security and indemnity satisfactory to the Trustee against any loss, liability or expense; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee does not comply with the request within 60 days after receipt of the request and the offer of security or
indemnity; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the Holders of a majority in principal amount of the Securities do not give the Trustee a direction
inconsistent with the request during such 60-day period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) A Holder may not use this Indenture to prejudice the rights
of another Holder or to obtain a preference or priority over another Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.07 <U>Rights of the Holders to Receive
Payment</U>. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed or provided for in the
Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.08 <U>Collection Suit by Trustee</U>. If an Event of Default specified in Section&nbsp;6.01(a) or (b)&nbsp;occurs and is continuing
with respect to Securities, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on the Securities for the whole amount then due and owing (together with interest on overdue
principal and (to the extent lawful) on any unpaid interest at the rate provided for in such Securities) and the amounts provided for in Section&nbsp;7.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.09 <U>Trustee May File Proofs of Claim</U>. The Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
disbursements and advances of the Trustee (including counsel, accountants, experts or such other professionals as the Trustee deems necessary, advisable or appropriate)) and the Holders of the
Securities then outstanding allowed in any judicial proceedings relative to the Issuer or any Guarantor, its creditors or its property, shall be entitled to participate as a member, voting or otherwise, of any official committee of creditors
appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person performing similar functions, and any Custodian in any such judicial
proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the reasonable
compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section&nbsp;7.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.10 <U>Priorities</U>. If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money or
property in the following order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">FIRST: to the Trustee (in all of its roles and capacities) for amounts due under
Section&nbsp;7.07; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECOND: to the Holders for amounts due and unpaid on the Securities for principal, premium, if any, and
interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIRD: to the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section. At least 15 days before such
record date, the Trustee shall mail to each Holder and the Issuer a notice that states the record date, the payment date and amount to be paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.11 <U>Undertaking for Costs</U>. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys&#146; fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section&nbsp;6.07 or a suit by Holders of more than 10% in principal amount of the outstanding Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.12 <U>Waiver of Stay or Extension Laws</U>. Neither the Issuer nor any Guarantor (to the extent it may lawfully do so) shall at any
time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Issuer and each Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee,
but shall suffer and permit the execution of every such power as though no such law had been enacted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 7 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRUSTEE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.01
<U>Duties of Trustee</U>. (a)&nbsp;If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person
would exercise or use under the circumstances in the conduct of such person&#146;s own affairs. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except during the
continuance of an Event of Default: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Trustee undertakes to perform such duties and only such duties as are
specifically set forth in this Indenture and no implied covenants or obligations shall be read into this Indenture against the Trustee (it being agreed that the permissive right of the Trustee to do things enumerated in this Indenture shall not be
construed as a duty); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth
of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee shall be under no duty to make any investigation as to
any statement contained in any such instance, but may accept the same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of certificates or opinions required by any provision
hereof to be provided to it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the form required by this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may not be relieved from liability for its own grossly negligent action, its own grossly negligent failure to
act or its own willful misconduct, except that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) this paragraph does not limit the effect of paragraph (b)&nbsp;of this
Section; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the
Trustee unless it is proved that the Trustee was grossly negligent in ascertaining the pertinent facts; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Trustee
shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section&nbsp;6.05; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise Incur financial or
personal liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Every provision of this Indenture that in any way relates to the Trustee is
subject to paragraphs (a), (b)&nbsp;and (c)&nbsp;of this Section. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee shall not be liable for interest on any
money received by it except as the Trustee may agree in writing with the Issuer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Money held in trust by the Trustee
need not be segregated from other funds except to the extent required by law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Every provision of this Indenture
relating to the conduct or affecting the liability of or affording protection to the Trustee shall be subject to the provisions of this Section. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.02 <U>Rights of Trustee</U>. (a)&nbsp;The Trustee may conclusively rely on any document believed by it to be genuine and to have
been signed or presented by the proper person. The Trustee need not investigate any fact, calculation or matter stated in the document. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before the Trustee acts or refrains from acting, it may require an Officer&#146;s Certificate or an Opinion of Counsel or
both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer&#146;s Certificate or Opinion of Counsel. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may act through agents and shall not be responsible for the misconduct or gross negligence of any agent
appointed with due care. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which
it believes to be authorized or within its rights or powers; <I>provided</I>, <I>however</I>, that the Trustee&#146;s conduct does not constitute willful misconduct or gross negligence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing to do so by the Holders of not less than a majority in
principal amount of the Securities at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuer and shall Incur no liability of any kind by reason of such inquiry or
investigation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses (including reasonable
attorney&#146;s fees and expenses) and liabilities which might be incurred by it in compliance with such request or direction. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The rights, privileges, protections, immunities and benefits given to the Trustee, including its right to be indemnified,
are extended to, and shall be enforceable by, the Trustee in each of its roles and capacities hereunder, and each agent, custodian and other Person appointed or employed to act hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The Trustee shall not be liable for any action taken or omitted by it in good faith at the direction of the Holders of not
less than a majority in principal amount of the Securities as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the exercising of any power conferred by this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Any action taken, or omitted to be taken, by the Trustee in good faith pursuant to this Indenture upon the request or
authority or consent of any Person who, at the time of making such request or giving such authority or consent, is the Holder of any Security shall be conclusive and binding upon future Holders of Securities and upon Securities executed and
delivered in exchange therefor or in place thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) Unless otherwise specifically provided in this Indenture, any
demand, request, direction or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The
Trustee shall not be charged with knowledge or deemed with notice of any Default of Event of Default with respect to the Securities unless either (A)&nbsp;a Responsible Officer of the Trustee assigned to the Corporate Trust department of the Trustee
(or any successor division or department of the Trustee) shall have actual knowledge of such Default or Event of Default or (B)&nbsp;written notice of such Default or Event of Default shall have been given to the Trustee at its Corporate Trust
Office by the Issuer or any other obligor on the Securities or by any Holder of the Securities, such notice specifically identifying this Indenture and the Securities. For purposes of determining the Trustee&#146;s responsibility and liability
hereunder, whenever reference is made in this Indenture to a Default or Event of Default, such reference shall be construed to refer only to such Default or Event of Default for which the Trustee is deemed to have notice pursuant to this
Section&nbsp;7.02(l). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) The Trustee may request that the Company deliver an Officer&#146;s Certificate setting forth the
names of individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer&#146;s Certificate may be signed by any person authorized to sign an Officer&#146;s Certificate, including any
person specified as so authorized in any such certificate previously delivered and not superseded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) The permissive
rights of the Trustee enumerated herein shall not be construed as duties. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) In respect of this Indenture, the Trustee shall not have any duty or
obligation to verify or confirm that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports,
notices or other communications or information on behalf of the party purporting to send such electronic transmission; and the Trustee shall not have any liability for any losses, liabilities, costs or expenses incurred or sustained by any party as
a result of such reliance upon or compliance with such instructions, directions, reports, notices or other communications or information. Each other party agrees to assume all risks arising out of the use of electronic methods to submit
instructions, directions, reports, notices or other communications or information to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, notices, reports or other communications or information, and
the risk of interception and misuse by third parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) In no event shall the Trustee be responsible or liable for any
special, indirect, punitive or consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the
form of action. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) The Trustee shall have no obligation or duty to ensure compliance with the securities laws of any
country or state except to request such certificates or other documents required to be obtained by the Trustee or any Registrar hereunder in connection with any exchange or transfer pursuant to the terms hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility
hereunder by reason of any occurrence beyond the control of the Trustee (including but not limited to any act or provision of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national
disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.03 <U>Individual Rights of Trustee</U>. The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Issuer or their Affiliates with the same rights it would have if it were not Trustee. Any paying agent or Registrar may do the same with like rights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.04 <U>Trustee&#146;s Disclaimer</U>. The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, any Guarantee or the Securities, it shall not be accountable for the Issuer&#146;s use of the proceeds from the Securities, and it shall not be responsible for any statement of the Issuer or any Guarantor in this
Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee&#146;s certificate of authentication. The Trustee shall not be charged with knowledge of any Default or Event of Default
under Sections 6.01(c), (d), (e), (f), (g), (h), or (i)&nbsp;or of the identity of any Significant Subsidiary unless either (a)&nbsp;a Responsible Officer of the Trustee shall have actual knowledge thereof or (b)&nbsp;the Trustee shall have received
written notice thereof in accordance with Section&nbsp;11.03 hereof from the Issuer, any Guarantor or any Holder. In accepting the trust hereby created, the Trustee acts solely as Trustee for the Holders of the Securities and not in its individual
capacity and all persons, including without limitation the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Holders of Securities and the Issuer having any claim against the Trustee arising from this Indenture shall look only to the funds and accounts held by the Trustee hereunder for payment except as
otherwise provided herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.05 <U>Notice of Defaults</U>. If a Default occurs and is continuing and if it is actually known to a
Responsible Officer of the Trustee, the Trustee shall electronically deliver or mail to each Holder of the Securities notice of the Default within the earlier of 90 days after it occurs or 30 days after it is actually known to a Responsible Officer
of the Trustee or written notice of it is received by the Trustee. Except in the case of a Default in the payment of principal of, premium (if any) or interest on any Security, the Trustee may withhold the notice if and so long as a Responsible
Officer of the Trustee in good faith determines that withholding the notice is in the interests of the Holders of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
7.06 <U>Affiliate Subordination Agreement</U>. By its acceptance of the Securities issued hereunder, each Holder hereby authorizes the Trustee to, and upon the request of the Company the Trustee shall, enter into and perform an affiliate
subordination agreement on behalf of the Holders, on terms substantially similar to that certain Affiliate Subordination Agreement, dated as of May&nbsp;7, 2014, among the subordinated lenders and subordinated borrowers party thereto, Deutsche Bank
AG New York Branch, as administrative agent, and Deutsche Bank Trust Company Americas, as trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.07 <U>Compensation and
Indemnity</U>. The Issuer shall pay to the Trustee from time to time reasonable compensation for its services. The Trustee&#146;s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall
reimburse the Trustee upon request for all reasonable out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and
expenses, disbursements and advances of the Trustee&#146;s agents, counsel, accountants and experts. The Issuer shall indemnify the Trustee against any and all loss, liability, claim, damage or expense (including reasonable attorneys&#146; fees and
expenses) incurred by or in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture or Guarantee against the Issuer or a Guarantor
(including this Section&nbsp;7.07) and defending itself against or investigating any claim (whether asserted by the Issuer, any Guarantor, any Holder or any other Person). The obligation to indemnify and pay such amounts shall survive the payment in
full or defeasance of the Securities or the removal or resignation of the Trustee. The Trustee shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; <I>provided</I>, <I>however</I>,
that any failure so to notify the Issuer shall not relieve the Issuer of its indemnity obligations hereunder. The Issuer shall defend the claim and the indemnified party shall provide reasonable cooperation at the Issuer&#146;s expense in the
defense. Such indemnified parties may have separate counsel and the Issuer shall pay the fees and expenses of such counsel; <I>provided</I>, <I>however</I>, that the Issuer shall not be required to pay such fees and expenses if it assumes such
indemnified parties&#146; defense and, in such indemnified parties&#146; reasonable judgment, there is no conflict of interest between the Issuer and such parties in connection with such defense. The Issuer need not reimburse any expense or
indemnify against any loss, liability or expense incurred by an indemnified party through such party&#146;s own willful misconduct, gross negligence or bad faith, as determined by a court of competent jurisdiction in a final, non-appealable ruling.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To secure the Issuer&#146;s payment obligations in this Section, the Trustee shall have a Lien
prior to the Securities on all money or property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer&#146;s payment obligations pursuant to this Section shall survive the satisfaction or discharge of this Indenture, any rejection or
termination of this Indenture under any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses after the occurrence of a
Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise Incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if repayment of such funds or adequate indemnity or security against such risk or liability is not assured to its satisfaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.08 <U>Replacement of Trustee</U>. (a)&nbsp;The Trustee may resign at any time by so notifying the Issuer. The Holders of a majority
in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) [reserved]; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee is adjudged bankrupt or insolvent; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) a receiver or other public officer takes charge of the Trustee or its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee otherwise becomes incapable of acting. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and
such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a
successor Trustee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee
and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a
notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section&nbsp;7.07. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer&#146;s obligations under
Section&nbsp;7.07 shall continue for the benefit of the retiring Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.09 <U>Successor Trustee by Merger</U>. If the Trustee
consolidates with, merges or converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall
be the successor Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall
succeed to the trusts created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such
Securities so authenticated; and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the
successor to the Trustee; and in all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 8 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISCHARGE OF
INDENTURE; DEFEASANCE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.01 <U>Discharge of Liability on Securities; Defeasance</U>. This Indenture shall be discharged and
shall cease to be of further effect (except as to surviving rights of registration of transfer or exchange of Securities, as expressly provided for in this Indenture) as to all outstanding Securities when: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) either (i)&nbsp;all the Securities theretofore authenticated and delivered (other than Securities pursuant to
Section&nbsp;2.08 which have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have
been delivered to the Trustee for cancellation or (ii)&nbsp;all of the Securities (A)&nbsp;have become due and payable, (B)&nbsp;will become due and payable at their Stated Maturity within one year or (C)&nbsp;if redeemable at the option of the
Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer has irrevocably deposited or
caused to be deposited with the Trustee or its designee money, U.S. Government Obligations or a combination thereof in an amount sufficient in the written opinion of an Independent Financial Advisor delivered to the Trustee (which opinion shall only
be required if U.S. Government Obligations have been so deposited) to pay and discharge the entire Indebtedness on the Securities not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, and interest on the
Securities to the date of deposit together with irrevocable written instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Issuer and/or the Guarantors have paid all other sums payable under this
Indenture; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer has delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel stating
that all conditions precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections 8.01(c) and 8.02, the Issuer at any time may terminate (i)&nbsp;all of its obligations under the Securities and this
Indenture (with respect to such Securities) (&#147;legal defeasance option&#148;) or (ii)&nbsp;its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11 and 4.12 for the benefit of the Securities and the operation of
Section&nbsp;5.01 and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with respect to Significant Subsidiaries of the Issuer only), 6.01(g) (with respect to Significant Subsidiaries of the Issuer only), 6.01(h) and 6.01(i) (&#147;covenant defeasance
option&#148;) for the benefit of the Holders of the Securities. The Issuer may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. In the event that the Issuer exercises its legal defeasance
option or its covenant defeasance option with respect to the Securities, the obligations of each Guarantor under its Guarantee of such Securities shall be terminated simultaneously with the termination of the obligations terminated pursuant to such
legal defeasance or covenant defeasance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuer exercises its legal defeasance option, payment of the Securities so defeased may
not be accelerated because of an Event of Default. If the Issuer exercises its covenant defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of Default specified in Section&nbsp;6.01(c), 6.01(d),
6.01(e), 6.01(f), 6.01(g), 6.01(h) or 6.01(i) or because of the failure of the Issuer to comply with Section&nbsp;5.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon satisfaction
of the conditions set forth herein and upon request and at the expense of the Issuer, the Trustee shall acknowledge in writing the discharge of those obligations that the Issuer terminates. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding clauses (i)&nbsp;and (ii)&nbsp;above, the Issuer&#146;s obligations in Sections 2.04, 2.05, 2.06, 2.07,
2.08, 2.09, 7.07, 7.08 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the Issuer&#146;s obligations in Sections 7.07, 8.05 and 8.06 shall survive such satisfaction and discharge. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.02 <U>Conditions to Defeasance</U>. (a)&nbsp;The Issuer may exercise its legal defeasance option or its covenant defeasance option,
in each case, with respect to the Securities only if: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Issuer irrevocably deposits in trust with the Trustee or its
designee money, U.S. Government Obligations or a combination thereof sufficient, in the case any U.S. Government Obligations are deposited, in the opinion of an Independent Financial Advisor, for the payment of principal of and premium (if any) and
interest on the Securities when due at maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Issuer delivers to the Trustee a certificate from an Independent Financial Advisor expressing their opinion that the
payments of principal and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
interest when due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money without investment will provide cash at such times and in such amounts as will be
sufficient to pay principal, premium, if any, and interest when due on all the Securities to maturity or redemption, as the case may be; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) 123 days pass after the deposit is made and during the 123-day period no Default specified in Section&nbsp;6.01(f) or
(g)&nbsp;with respect to the Issuer occurs which is continuing at the end of the period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the deposit does not
constitute a default under any other agreement binding on the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) in the case of the legal defeasance option, the
Issuer shall have delivered to the Trustee an Opinion of Counsel stating that (1)&nbsp;the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or (2)&nbsp;since the date of this Indenture there has been a
change in the applicable U.S. Federal income tax law, in either case to the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial owners will not recognize income, gain or loss for U.S. Federal income tax purposes
as a result of such deposit and defeasance and will be subject to U.S. Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) such exercise does not impair the right of any Holder to receive payment of principal, premium, if any, and interest on
such Holder&#146;s Securities on or after the due dates therefore or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) in the case of the covenant defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel to
the effect that the Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such deposit and defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such deposit and defeasance had not occurred; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the Issuer delivers to the
Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Securities to be so defeased and discharged as contemplated by this Article 8 have been complied with.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such
Securities at a future date in accordance with Article 3. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.03 <U>Application of Trust Money</U>. The Trustee shall hold in trust
money or U.S. Government Obligations (including proceeds thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from U.S. Government Obligations through each paying agent and in accordance with this
Indenture to the payment of principal of and interest on the Securities so discharged or defeased. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.04 <U>Repayment to Issuer</U>. Each of the Trustee and each paying agent shall promptly
turn over to the Issuer upon request any money or U.S. Government Obligations held by it as provided in this Article which, in the written opinion of an Independent Financial Advisor delivered to the Trustee (which delivery shall only be required if
U.S. Government Obligations have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with this Article 8. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to any applicable abandoned property law, the Trustee and each paying agent shall pay to the Issuer upon written request any money
held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuer for payment as general creditors, and the Trustee and each paying agent shall have no
further liability with respect to such monies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.05 <U>Indemnity for U.S. Government Obligations</U>. The Issuer shall pay and
shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.06 <U>Reinstatement</U>. If the Trustee or any paying agent is unable to apply any money or U.S. Government Obligations in
accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer&#146;s obligations under this
Indenture and the Securities so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any paying agent is permitted to apply all such money or U.S.
Government Obligations in accordance with this Article 8; <I>provided</I>, <I>however</I>, that, if the Issuer has made any payment of principal of or interest on, any such Securities because of the reinstatement of its obligations, the Issuer shall
be subrogated to the rights of the Holders of such Securities to receive such payment from the money or U.S. Government Obligations held by the Trustee or any paying agent. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 9 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENTS
AND WAIVERS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.01 <U>Without Consent of the Holders</U>. The Issuer and the Trustee may amend this Indenture and the
Securities without notice to or consent of any Holder: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to cure any ambiguity, omission, mistake, defect or
inconsistency; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to provide for the assumption by a Successor Company of the obligations of the Issuer under this
Indenture and the Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to provide for the assumption by a Successor Guarantor of the obligations of a
Guarantor under this Indenture and the applicable Guarantee; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) to provide for uncertificated Securities in addition to or in place of
certificated Securities (<I>provided</I> that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to add a Guarantee with respect to the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) to make any change that would provide additional rights or benefits to the Holders or that does not adversely affect the
legal rights of any such Holder under this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) to make changes relating to the transfer and legending of the
Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) to secure the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred
upon the Issuer or any Guarantor; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) to make any change that does not adversely affect the rights of any Holder in any
material respect; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) to effect any provision of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) to provide for the issuance of Add-On Securities, which shall have terms substantially identical in all material respects
to the Original Securities, and which shall be treated, together with any outstanding Original Securities, as a single issue of securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee hereunder
pursuant to the requirements hereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) to conform and evidence the release, termination and discharge of any Guarantee
or Lien securing the Securities when such release, termination or discharge is permitted by this Indenture; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) to
conform the text of this Indenture, the Guarantees or the Securities to any provision of the &#147;Description of the Notes&#148; contained in the Offering Memorandum to the extent such provision in the &#147;Description of the Notes&#148; contained
in the Offering Memorandum was intended to be a verbatim recitation of a provision of this Indenture, the Guarantees or the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.01 becomes effective, the Issuer shall deliver electronically or mail to the Holders a notice
briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section&nbsp;9.01. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.02 <U>With Consent of the Holders</U>. The Issuer and the Trustee may amend this
Indenture and the Securities with respect to the Securities with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or
exchange for the Securities). However, without the consent of each Holder of an outstanding Security affected, an amendment may not: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) reduce the amount of Securities whose Holders must consent to an amendment, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) reduce the rate of or extend the time for payment of interest on any Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) reduce the principal of or change the Stated Maturity of any Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) reduce the premium payable upon the redemption of any Security or change the time at which any Security may be redeemed in
accordance with Article 3, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) make any Security payable in money other than that stated in such Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) expressly subordinate the Securities or any Guarantee to any other Indebtedness of the Issuer or any Guarantor, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) impair the right of any Holder to receive payment of principal of, premium, if any, and interest on such Holder&#146;s
Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) make any change in Section&nbsp;6.04 or 6.07 or the second sentence of this Section&nbsp;9.02, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) except as expressly permitted by this Indenture, modify the Guarantee of any Significant Subsidiary, or the Guarantee of
one or more Restricted Subsidiaries that collectively would, at the time of such amendment, represent a Significant Subsidiary in any manner adverse to the Holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">It shall not be necessary for the consent of the Holders under this Section&nbsp;9.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.02
becomes effective, the Issuer is required to deliver electronically or mail to the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of
an amendment under this Section&nbsp;9.02. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.03 <U>[Reserved]</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.04 <U>Revocation and Effect of Consents and Waivers</U>. (a)&nbsp;A consent to an
amendment or a waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder&#146;s Security, even if notation of the consent or
waiver is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent or waiver as to such Holder&#146;s Security or portion of the Security if the Trustee receives the notice of revocation before the date on which
the Trustee receives an Officer&#146;s Certificate from the Issuer certifying that the requisite principal amount of Securities have consented. After an amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver
becomes effective upon the (i)&nbsp;receipt by the Issuer or the Trustee of consents by the Holders of the requisite principal amount of securities, (ii)&nbsp;satisfaction of conditions to effectiveness as set forth in this Indenture and any
indenture supplemental hereto containing such amendment or waiver and (iii)&nbsp;execution of such amendment or waiver (or supplemental indenture) by the Issuer and the Trustee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to
give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those Persons who were Holders at such
record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons continue to be Holders after such record
date. No such consent shall be valid or effective for more than 120 days after such record date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.05 <U>Notation on or Exchange
of Securities</U>. If an amendment, supplement or waiver changes the terms of a Security, the Issuer may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the
changed terms and return it to the Holder. Alternatively, if the Issuer so determines, the Issuer in exchange for the Security shall issue and the Trustee shall, upon receipt of a Written Order, authenticate a new Security that reflects the changed
terms. Failure to make the appropriate notation or to issue a new Security shall not affect the validity of such amendment, supplement or waiver. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.06 <U>Trustee to Sign Amendments</U>. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article
9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment, the Trustee shall be entitled to receive indemnity reasonably
satisfactory to it and shall be provided with, and (subject to Section&nbsp;7.01) shall be fully protected in relying upon, an Officer&#146;s Certificate and an Opinion of Counsel (notwithstanding that no Opinion of Counsel is required in the case
of the addition of a Guarantor) stating that such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuer and the Guarantors,
enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section&nbsp;9.03). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.07 <U>Payment for Consent</U>. Neither the Issuer nor any Affiliate of the Issuer
shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or
the Securities unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.08 <U>Additional Voting Terms; Calculation of Principal Amount</U>. Except as otherwise set forth herein, all Securities issued
under this Indenture shall vote and consent separately on all matters as to which any of such Securities may vote. Determinations as to whether Holders of the requisite aggregate principal amount of Securities have concurred in any direction, waiver
or consent shall be made in accordance with this Article 9 and Section&nbsp;2.14. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 10 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GUARANTEES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.01
<U>Guarantees</U>. (a)&nbsp;Each Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees on a senior unsecured basis, as a primary obligor and not merely as a surety, to each Holder and to the Trustee and its successors
and assigns (i)&nbsp;the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or otherwise, of all Obligations of the Issuer under this Indenture (including obligations to the Trustee) and the Securities,
whether for payment of principal of, premium, if any or interest on or in respect of the Securities and all other monetary obligations of the Issuer under this Indenture and the Securities and (ii)&nbsp;the full and punctual performance within
applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under this Indenture and the Securities (all the foregoing being hereinafter collectively called the &#147;Guaranteed
Obligations&#148;). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from each such Guarantor, and that each such Guarantor shall remain bound under this
Article 10 notwithstanding any extension or renewal of any Guaranteed Obligation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Guarantor waives presentation
to, demand of payment from and protest to the Issuer of any of the Guaranteed Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The
obligations of each Guarantor hereunder shall not be affected by (i)&nbsp;the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person under this Indenture, the
Securities or any other agreement or otherwise; (ii)&nbsp;any extension or renewal of this Indenture, the Securities or any other agreement; (iii)&nbsp;any rescission, waiver, amendment or modification of any of the terms or provisions of this
Indenture, the Securities or any other agreement; (iv)&nbsp;the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any Guarantor; (v)&nbsp;the failure of any Holder or Trustee to exercise any right or remedy
against any other guarantor of the Guaranteed Obligations; or (vi)&nbsp;any change in the ownership of such Guarantor, except as provided in Section&nbsp;10.03. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each Guarantor hereby waives any right to which it may be entitled to have
its obligations hereunder divided among the Guarantors, such that such Guarantor&#146;s obligations would be less than the full amount claimed. Each Guarantor hereby waives any right to which it may be entitled to have the assets of the Issuer first
be used and depleted as payment of the Issuer&#146;s or such Guarantor&#146;s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder. Each Guarantor hereby waives any right to which it may be entitled to
require that the Issuer be sued prior to an action being initiated against such Guarantor. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Each Guarantor further
agrees that its Guarantee herein constitutes a guarantee of payment, performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for
payment of the Guaranteed Obligations. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Guarantee of each Guarantor is, to the extent and in the manner set forth
in this Article 10, equal in right of payment to all existing and future Pari Passu Indebtedness and senior in right of payment to all existing and future Subordinated Indebtedness of the Issuer and is made subject to such provisions of this
Indenture. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Except as expressly set forth in Sections 8.01, 10.02 and 10.06, the obligations of each Guarantor
hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim,
recoupment or termination whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be
discharged or impaired or otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any
thereof, by any default, failure or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of
any Guarantor or would otherwise operate as a discharge of any Guarantor as a matter of law or equity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Each Guarantor
agrees that its Guarantee shall be a continuing guarantee and shall remain in full force and effect until payment in full of all the Guaranteed Obligations, subject to the other terms of this Indenture. Each Guarantor further agrees that its
Guarantee herein shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or
the Trustee upon the bankruptcy or reorganization of the Issuer or otherwise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) In furtherance of the foregoing and not
in limitation of any other right which any Holder or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same
shall become due, whether at maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
by the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders or the Trustee an amount equal to the sum of (i)&nbsp;the unpaid principal amount of such Guaranteed Obligations,
(ii)&nbsp;accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by applicable law) and (iii)&nbsp;all other monetary obligations of the Issuer to the Holders and the Trustee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Each Guarantor agrees that it shall not be entitled to any right of subrogation in relation to the Holders in respect of
any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the Holders and the Trustee, on the other hand, (i)&nbsp;the maturity of the
Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Guarantee herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed
Obligations guaranteed hereby, and (ii)&nbsp;in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article 6, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable
by such Guarantor for the purposes of this Section&nbsp;10.01. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Each Guarantor also agrees to pay any and all costs and
expenses (including reasonable attorneys&#146; fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section&nbsp;10.01. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) To the fullest extent permitted by applicable law but subject to the limitations set out in Section&nbsp;10.02 below, each
Guarantor waives any defense based on or arising out of any defense of the Issuer or any other Guarantor or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of
the Issuer or any other Guarantor, other than the payment in full in cash of all the Guaranteed Obligations. Subject to the limitations set out in Section&nbsp;10.02 below, the Trustee (acting at the direction of the Holders pursuant to
Section&nbsp;6.05) may, in accordance with the terms of this Indenture, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the Issuer or any Guarantor or exercise any other right or remedy available to it
against the Issuer or any other Guarantor, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Guaranteed Obligations have been paid in full in cash. To the fullest extent permitted by
applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such
Guarantor against the Issuer or any other Guarantor, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.02 <U>Limitation on Liability</U>. (a)&nbsp;Any term
or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Guarantor shall not exceed the maximum amount that can be hereby guaranteed without
(i)&nbsp;rendering this Indenture, as it relates to such Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally or (ii)&nbsp;resulting in any
breach of corporate benefit, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
financial assistance, fraudulent preference, thin capitalization laws, retention of title claims, capital maintenance rules, general statutory limitations, or the laws or regulations (or
analogous restrictions) of any applicable jurisdiction or any similar principles which may limit the ability of any Foreign Subsidiary to provide a Guarantee or may require that the Guarantee be limited by an amount or scope or otherwise. Each
Guarantor, and by its acceptance of Securities, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such Guarantor not constitute a fraudulent conveyance for purposes of Bankruptcy Law, the Uniform
Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to any Guarantee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) (i) To the extent that any Guarantee is granted by a German entity (a &#147;German Guarantor&#148;) incorporated as a
limited liability company (<I>Gesellschaft mit beschr&auml;nkter Haftung</I>) (&#147;GmbH&#148;) or a limited partnership (<I>Kommanditgesellschaft</I>) (&#147;KG&#148;) with a limited liability company as sole general partner (&#147;GmbH&nbsp;&amp;
Co. KG&#148;) and that such Guarantee secures liabilities other than the own liabilities of the relevant German Guarantor or any of its subsidiaries, the Guarantee will be limited to such amount (I)&nbsp;as is required to ensure that the amount of
the German Guarantor&#146;s net assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG), calculated as the sum of the balance sheet positions shown under section 266 sub-section (2)&nbsp;(A), (B),
(C)&nbsp;and (D)&nbsp;of the German Commercial Code (<I>Handelsgesetzbuch</I>) (&#147;HGB&#148;) less the sum of the amounts shown under balance sheet positions shown under section 266 (3)&nbsp;(B), (C), (D)&nbsp;and (E)&nbsp;HGB and any amounts not
available for distribution to its shareholders in accordance with section 268 sub-section (8)&nbsp;HGB, does not fall below the amount of its registered share capital (<I>Stammkapital</I>); or (II) where the amount of the German Guarantor&#146;s net
assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG) already is below the amount of its registered share capital, as is required as to ensure that such amount is not further reduced. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The limits in clauses (I)&nbsp;and (II) of Section&nbsp;10.02(b)(i) will not apply (A)&nbsp;to the extent that the
Guarantees of the relevant German Guarantor relate to the relevant German Guarantor&#146;s Indirect Borrowings; (B)&nbsp;if following the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee,
the relevant German Guarantor (or its general partner if the relevant German Guarantor is a limited partnership) does not provide financial statements in accordance with Section&nbsp;10.02(b)(iv) and (v)&nbsp;below; (C)&nbsp;if the relevant German
Guarantor (or, if the German Guarantor is a GmbH&nbsp;&amp; Co. KG, its general partner) (as dominated entity) is party to a domination and/or profit and loss transfer agreement (<I>Beherrschungs- und/oder Gewinnabf&uuml;hrungsvertrag</I>) (a
&#147;DPTA&#148;), unless the Guarantor&#146;s claim for absorption of losses pursuant to section 302 German Stock Corporation Act (<I>Aktiengesetz</I>) is or cannot be expected to be fully recoverable (unless a higher or supreme court has found by
way of a final judgment that the requirement of a fully recoverable counterclaim is not applicable if a DPTA is in place); or (D)&nbsp;if and to the extent the German Guarantor holds on the date of enforcement of the guarantee made herein a fully
recoverable indemnity claim or claim for refund (<I>vollwertiger Gegenleistungs- oder R&uuml;ckgew&auml;hranspruch</I>) against its shareholder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) If, following a legislative amendment of, or the rendering of a final
judgment by the Federal High Court of Justice with respect to, section 30 et seq. German Limited Liability Companies Act (<I>Gesetz betreffend die Gesellschaften mit beschrankter Haftung</I>) (&#147;GmbHG&#148;) after the date of this Indenture, the
German Guarantor submits reasonably satisfactory evidence that the exception referred to in clause (C)&nbsp;of Section&nbsp;10.02(b)(ii) above is no longer required to protect the management of the German Guarantor from personal liability under
sections 30 et seq. and 43 GmbHG, such clause (C)&nbsp;shall no longer apply. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the purpose of the calculation of
the net assets of a German Guarantor, the following balance sheet items shall be adjusted as follows: (A)&nbsp;the amount of any increase of the German Guarantor&#146;s or its general partner&#146;s registered share capital after the date of this
Indenture, to the extent that it is not fully paid up, shall be deducted from the German Guarantor&#146;s or its general partner&#146;s registered share capital; (B)&nbsp;loans provided to the German Guarantor or its general partner by the Issuer or
any Guarantor shall be disregarded if and to the extent those loans are subordinated or are considered subordinated pursuant to section 39 para. 1 no. 5 and/or para. 2 of the German Insolvency Code (<I>Insolvenzordnung &#150; InsO</I>); and
(C)&nbsp;loans or other liabilities incurred in violation of the provisions of this Indenture shall be disregarded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v)
For the purpose of the calculation of the net assets, the relevant German Guarantor will deliver (within 15 Business Days following the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee)
to the Trustee a notification stating to which extent the amount payable in respect of its Guarantee shall be limited in accordance with clauses (b)(i)(I) and (b)(i)(II) of this Section&nbsp;10.02 above and taking into account the adjustments in
clause (b)(iv) of this Section&nbsp;10.02 above, such notification to be supported by interim financial statements (<I>Stichtagsbilanz</I>) showing the balance sheet positions mentioned in clause (b)(i)(I) above as of the relevant date (the
&#147;Management Determination&#148;). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Following the Trustee&#146;s receipt of the Management Determination, upon the
Trustee&#146;s request (acting at the direction of the Holders pursuant to Section&nbsp;6.05 hereof) (the &#147;Trustee&#146;s Request&#148;), the relevant German Guarantor (or its general partner if the relevant German Guarantor is a limited
partnership) will deliver (within 25 Business Days following receipt of the Trustee&#146;s Request) to the Trustee an up-to-date balance sheet drawn-up by a firm of auditors of international standing and repute together with a determination of the
net assets. Such balance sheet and determination of net assets shall be prepared in accordance with accounting principles pursuant to the German Commercial Code and be based on the same principles that were applied when establishing the previous
year&#146;s balance sheet. The determination by the auditors (as set forth above, the &#147;Auditors&#146; Determination&#148;) pertaining to the relevant German Guarantor or, in the case of a GmbH&nbsp;&amp; Co. KG, its general partner shall have
been prepared as of the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) The Trustee (acting at the direction of the Holders pursuant to
Section&nbsp;6.05) shall be entitled to demand payment under the Guarantee in an amount which would, in accordance with the Management Determination or, if applicable and taking into account any previous enforcement in accordance with the Management
Determination, the Auditors&#146; Determination, not cause the German Guarantor&#146;s net assets (or if the German Guarantor is a limited partnership, its general partner&#146;s net assets) to be reduced below zero or further reduced if already
below zero. If and to the extent the net assets as determined by the Auditors&#146; Determination are lower than the amount enforced in accordance with the Management Determination, the Trustee shall release to the relevant German Guarantor (or if
the German Guarantor is a limited partnership, to its general partner) such exceeding enforcement proceeds. The Trustee may (acting at the direction of the Holders pursuant to Section&nbsp;6.05) withhold any amount received pursuant to an
enforcement of this guarantee until final determination of the amount of the net assets pursuant to the Auditors&#146; Determination. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) In a situation where the relevant German Guarantor does not have sufficient net assets to maintain its registered share
capital the relevant German Guarantor shall within three months after a written request by the Trustee (acting at the direction of the Holders pursuant to Section&nbsp;6.05), to the extent commercially justifiable, dispose of all assets which are
not necessary for its business (<I>nicht betriebsnotwendig</I>) on market terms where the relevant assets are shown in the balance sheet of the relevant German Guarantor with a book value which is significantly lower than the market value of such
assets. After the expiry of such three-month period the German Guarantor shall, within three Business Days, notify the Trustee of the amount of the net proceeds from the sale and submit a statement with a new calculation of the amount of the net
assets of the German Guarantor (or if the German Guarantor is a limited partnership, of its general partner) taking into account such proceeds. Such calculation shall, upon the Trustee&#146;s request (acting at the direction of the Holders pursuant
to Section&nbsp;6.05), be confirmed by one of the auditors of the German Guarantor within a period of 15 Business Days following the request. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) (i) Subject to clause (v)&nbsp;below and notwithstanding any contrary indication in this Indenture, in relation to a
Guarantor organized under the laws of France (a &#147;French Guarantor&#148;), its Guarantee shall be limited to the payment obligations of the Issuer up to an amount equal to the aggregate of all outstanding amounts issued directly by the Issuer
under this Indenture or indirectly (through an issuance (an &#147;Indirect Issuance&#148;) by the Issuer of Add-On Securities under this Indenture) and to the extent on-lent directly or indirectly to, or used to refinance any indebtedness previously
on-lent directly or indirectly to, such French Guarantor and/or its Subsidiaries and in all cases to the extent of the amounts so on-lent remaining due by such French Guarantor and/or its Subsidiaries from time to time (the &#147;Maximum Guaranteed
Amount&#148;); it being specified that any payment made by such French Guarantor under this Article 10 in respect of the obligations of the Issuer shall reduce <I>pro tanto</I> the outstanding amount of the intercompany loans (if any) due by such
French Guarantor to the Issuer under such Indirect Issuance. For the avoidance of doubt, any payment made by a French Guarantor under this clause (B)&nbsp;shall reduce the Maximum Guaranteed Amount by the amount paid. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) It is acknowledged that, notwithstanding any provision to the contrary in
this Indenture, no French Guarantor is acting jointly and severally with the other Guarantors and no French Guarantor shall therefore be considered as &#147;<I>co-d&eacute;biteurs solidaires</I>&#148; within the meaning of article 1216 of the French
Code civil with the other Guarantors as to its Guarantee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) For the purpose of Section&nbsp;10.02(c)(i) above
&#147;Subsidiary&#148; means, in relation to any company, any other company which is controlled by it within the meaning of article L.233-3 of the French Code de commerce. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the avoidance of doubt, the limitations set out in Section&nbsp;10.02(c)(i) and Section&nbsp;10.02(c)(ii) above with
respect to the payment obligation of any French Guarantor under the Guarantee shall apply mutatis mutandis with respect to any other indemnity, guarantee or any other undertaking of any French Guarantor contained in this Indenture having the same or
a similar effect. Any payment made by a French Guarantor under any such indemnity, guarantee or undertaking shall reduce the Maximum Guaranteed Amount by the amount paid. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding any other provision to the contrary, no French Guarantor shall grant a Guarantee covering any Indebtedness
which would result in such French Guarantor not complying with French financial assistance rules as set out in article L. 225-216 of the French Code de Commerce or any other law or regulations having the same effect, as interpreted by French courts
and/or would constitute a misuse of corporate assets within the meaning of articles L. 241-3, L. 242-6 or L. 244-1 of the French Code de Commerce or any other law or regulations having the same effect, as interpreted by French courts. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) (i) Notwithstanding any contrary indication in this Indenture, in relation to a Guarantor organized under the laws of
Switzerland (a &#147;Swiss Guarantor&#148;), its Guarantee and any other indemnity, security or other benefit, as well as any other undertaking contained in this Indenture having the same or a similar effect, such as, but not limited to, the waiver
of set-off or subrogation rights or the subordination of intra-group claims, under this Indenture and the Securities for, or with respect to, obligations of any other obligor (other than the direct or indirect Subsidiaries of such Swiss Guarantor)
shall not exceed at any time the amount of such Swiss Guarantor&#146;s freely disposable equity in accordance with Swiss law, presently being the total shareholder equity less the total of (A)&nbsp;the aggregate share capital and (B)&nbsp;statutory
reserves (including reserves for own shares and revaluations as well as agio). The amount of equity freely disposable shall be determined on the basis of an audited annual or interim balance sheet of the relevant Swiss Guarantor. This limitation
shall only apply to the extent it is a requirement under applicable law at the time the respective Swiss Guarantor is required to perform. Such limitation shall not free the respective Swiss Guarantor from its obligations in excess of the freely
disposable equity, but merely postpone the performance date therefor until such times as performance is again permitted notwithstanding such limitation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) If so required under applicable law (including double tax treaties) at the time it is required to make a payment under
this Indenture, each Swiss </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Guarantor: (A)&nbsp;may deduct the withholding tax due under the Swiss Federal Act on the Withholding Tax (the &#147;Withholding Tax&#148;) at the rate of 35&nbsp;per cent (or such other rate as
is in force at that time) from any payment deemed to be a constructive dividend; (B)&nbsp;may pay the Withholding Tax to the Swiss Federal Tax Administration; and (C)&nbsp;shall notify and provide evidence to the Trustee that the Withholding Tax has
been paid to the Swiss Federal Tax Administration. The respective Swiss Guarantor shall as soon as possible after the deduction of the Withholding Tax ensure that any Person which is, as a result of a payment under this Indenture, entitled to a full
or partial refund of the Withholding Tax, is in a position to apply for such refund under any applicable law (including double tax treaties) and, in case it has received any refund of the Withholding Tax, pay such refund to the Trustee for the
benefit of the Holders upon receipt thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Each Swiss Guarantor shall, and any shareholder of such Swiss Guarantor
being a party hereto shall procure that such Swiss Guarantor will, take and cause to be taken all and any other action, including without limitation, (A)&nbsp;preparation of an up-to-date audited balance sheet of such Swiss Guarantor, (B)&nbsp;the
passing of any shareholders&#146; resolutions to approve any payment or other performance under this Indenture or the Securities and (C)&nbsp;the obtaining of any confirmations (including confirmations by the respective Swiss Guarantor&#146;s
auditors) which may be required as a matter of Swiss mandatory law in force at the time the respective Swiss Guarantor is required to make a payment or perform other obligations under this Indenture or the Securities in order to allow a prompt
payment as well as the performance of other obligations under this Indenture or the Securities with a minimum of limitations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) If the enforcement of obligations of a Swiss Guarantor would be limited due to the effects referred to in this clause, the
Swiss Guarantor affected shall further, to the extent permitted by applicable law and Swiss accounting standards, write up any of its assets that are shown in its balance sheet with a book value that is significantly lower than the market value of
the assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.03 <U>Automatic Termination of Guarantees</U>. A Guarantee as to any Guarantor shall automatically terminate and
be of no further force or effect and such Guarantor shall automatically be deemed to be released from all obligations under this Article&nbsp;10 upon: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (A) the sale, disposition or other transfer (including through merger or consolidation) of (x)&nbsp;the Capital Stock of
the applicable Guarantor to a Person who is not (either before or after giving effect to the transaction) the Issuer or a Restricted Subsidiary of the Issuer, following which the applicable Guarantor is no longer a Restricted Subsidiary or
(y)&nbsp;all or substantially all of the assets of such Guarantor, in each case, if such sale, disposition or other transfer is not prohibited by this Indenture, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Issuer designating such Guarantor to be an Unrestricted Subsidiary in accordance with the provisions set forth under
Section&nbsp;4.04 and the definition of &#147;Unrestricted Subsidiary,&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in the case of any Restricted Subsidiary that after the Issue Date is
required to guarantee the Securities pursuant to Section&nbsp;4.11, the release or discharge of the guarantee by such Restricted Subsidiary of the Indebtedness of the Issuer or any Guarantor, as the case may be, or the repayment of the Indebtedness
or Disqualified Stock, in each case, which resulted in the obligation to guarantee the Securities, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) the
Issuer&#146;s exercise of its defeasance option under Article 8, or if the Issuer&#146;s obligations under this Indenture are discharged in accordance with the terms of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In connection with the termination of any Guarantee pursuant to this Section&nbsp;10.03, the Trustee shall execute and deliver to the Issuer
and any Guarantor, at the Issuer or such Guarantor&#146;s expense, all documents that the Issuer or such Guarantor shall reasonably request to evidence such termination; provided, however, that the Trustee shall be entitled to receive an
Officer&#146;s Certificate and an Opinion of Counsel regarding such release before executing and delivering such documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.04
<U>Successors and Assigns</U>. This Article 10 shall be binding upon each Guarantor and its successors and assigns and shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or
assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and
conditions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.05 <U>No Waiver</U>. Neither a failure nor a delay on the part of either the Trustee or the
Holders in exercising any right, power or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies
and benefits of the Trustee and the Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article&nbsp;10 at law, in equity, by statute or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.06 <U>Modification</U>. No modification, amendment or waiver of any provision of this Article 10, nor the consent to any departure
by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee (acting in accordance with the terms and conditions of this Indenture), and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other circumstances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.07 <U>Execution of Supplemental Indenture for Future Guarantors</U>. Each Subsidiary and other Person which is required to become a
Guarantor pursuant to Section&nbsp;4.11 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit B hereto pursuant to which such Subsidiary or other Person shall become a Guarantor under this Article 10 and
shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate to the effect that such supplemental indenture has been
duly authorized, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
executed and delivered by such Subsidiary or other Person and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws
relating to creditors&#146; rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a valid and binding obligation of such Guarantor, enforceable against such
Guarantor in accordance with its terms. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.08 <U>Non-Impairment</U>. The failure to endorse a Guarantee on any Security shall not
affect or impair the validity thereof. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 11 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MISCELLANEOUS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
11.01 <U>Ranking</U>. The indebtedness evidenced by the Securities will be unsecured senior Indebtedness of the Issuer, equal in right of payment to all existing and future senior Indebtedness of the Issuer and senior in right of payment to all
existing and future Subordinated Indebtedness of the Issuer. The indebtedness evidenced by the Guarantees will be unsecured senior Indebtedness of the applicable Guarantor, equal in right of payment to all existing and future senior Indebtedness of
such Guarantor and senior in right of payment to all existing and future Subordinated Indebtedness of such Guarantor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.02
<U>[Reserved]</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.03 <U>Notices</U>. (a)&nbsp;Any notice or communication required or permitted hereunder shall be in writing
and in English and delivered in person, via facsimile or mailed by first-class mail addressed as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">if to the
Issuer or a Guarantor: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Tupolevlaan 41-61 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">1119 NW Schiphol-Rijk </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Amsterdam, Netherlands </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Fax: +31 20 654 97 96 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mark.kirkland@constellium.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">With a copy to </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Washington Plaza &#150; 40/44, rue Washington </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">75008 Paris, France </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Attn: Jeremy Leach </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Tel: +33 1 73 01 46 51 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Email: jeremy.leach@constellium.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Constellium Switzerland A.G. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Max H&ouml;gger-Strasse 6 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">8048 Z&uuml;rich, Switzerland </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland, Group Treasurer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Tel: +41 44 438 6642 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mark.kirkland@constellium.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">And </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Wachtell, Lipton, Rosen&nbsp;&amp; Katz </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">51 West 52<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP> Street </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">New York, NY 10019 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Attn: Josh A. Feltman </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Tel: (212) 403-1109 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Fax: (212) 403-2109 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;jafeltman@wlrk.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">if to the Trustee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Deutsche Bank Trust Company Americas </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">60 Wall Street, 16th Floor </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Mail Stop: NYC60-1630 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">New York, New York 10005 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Attn: Corporates Team Deal Manager &#150; Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Fax: 732-578-4635 </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">With a copy to: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Deutsche Bank Trust Company Americas </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">c/o Deutsche Bank National Trust Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">100 Plaza One, Mailstop JCY03-0699 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Jersey City, New Jersey 07311 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Attn: Corporates Team Deal Manager &#150; Constellium N.V. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:10%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Fax: 732-578-4635 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Issuer
or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Any notice or communication mailed to a Holder shall be mailed, first class mail, to the Holder at the Holder&#146;s
address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee are effective only if received. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.04 <U>[Reserved]</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.05 <U>Certificate and Opinion as to Conditions Precedent</U>. Upon any request or
application by the Issuer to the Trustee to take or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) an Officer&#146;s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers,
all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such
conditions precedent have been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.06 <U>Statements Required in Certificate or Opinion</U>. Each certificate or
opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section&nbsp;4.09) shall include: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a statement that the individual making such certificate or opinion has read such covenant or condition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a statement that, in the opinion of such individual, he has made
such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with;
<I>provided</I>, <I>however</I>, that with respect to matters of fact an Opinion of Counsel may rely on an Officer&#146;s Certificate or certificates of public officials. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.07 <U>When Securities Disregarded</U>. In determining whether the Holders of the required principal amount of Securities have
concurred in any direction, waiver or consent, Securities owned by the Issuer, any Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any Guarantor shall be
disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a Responsible Officer of the Trustee actually
knows are so owned shall be so disregarded. Subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.08 <U>Rules by Trustee, Paying Agent and Registrar</U>. The Trustee may make reasonable rules for action by or a meeting of the
Holders. The Registrar and a paying agent may make reasonable rules for their functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.09 <U>Legal Holidays</U>. If a
payment date is not a Business Day, payment shall be made on the next succeeding day that is a Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the
intervening period. If a regular record date is not a Business Day, the record date shall not be affected. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.10 <U>GOVERNING LAW</U>. THIS INDENTURE, THE SECURITIES AND THE GUARANTEES SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.11 <U>Consent to Jurisdiction and Service</U>. In relation to any legal action or proceedings arising out of or in connection with
this Indenture, the Securities and the Guarantees, the Trustee (in the case of clauses (a)&nbsp;and (b)&nbsp;below only), the Issuer and each Guarantor that is organized under laws other than the United States or a state thereof (a)&nbsp;irrevocably
submits to the jurisdiction of the federal and state courts in the Borough of Manhattan in the City, County and State of New York, United States, (b)&nbsp;consents that any such action or proceeding may be brought in such courts and waives any
objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agree not to plead or claim the same, (c)&nbsp;designates and
appoints Constellium U.S. Holdings I, LLC, 830 Third Avenue, 9th floor, New York, NY 10022 as its authorized agent upon which process may be served in any such action or proceeding that may be instituted in any such court and (d)&nbsp;agrees that
service of any process, summons, notice or document by U.S. registered mail addressed to such agent for service of process, with written notice of said service to such Person at the address of the agent for service of process set forth in clause
(c)&nbsp;of this Section&nbsp;11.11 shall be effective service of process for any such action or proceeding brought in any such court. Each of the Issuer, the Guarantors, the Trustee, paying agent, Registrar, and Transfer Agent hereby irrevocably
waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Indenture, the Securities or the transactions contemplated hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.12 <U>Currency Indemnity</U>. The U.S.&nbsp;Dollar is the sole currency of account and payment for all sums payable by the Issuer
or any Guarantor under or in connection with the Securities, including damages. Any amount with respect to the Securities or the Guarantees thereof received or recovered in a currency other than U.S. Dollars, whether as a result of, or the
enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or any Guarantor or otherwise by any Holder or by the Trustee, in respect of any sum expressed to be due to it from the Issuer or any
Guarantor will only constitute a discharge to the Issuer or any Guarantor to the extent of the U.S.&nbsp;Dollar amount that the recipient is able to purchase with the amount so received or recovered in such other currency on the date of such receipt
or recovery (or, if it is not practicable to make such purchase on such date, on the first date on which it is practicable to do so). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If that
U.S.&nbsp;Dollar amount is less than the U.S.&nbsp;Dollar amount expressed to be due to the recipient or the Trustee under the Securities, the Issuer and each Guarantor will indemnify such recipient and/or the Trustee against any loss sustained by
it as a result. In any event, the Issuer and each Guarantor will indemnify the recipient against the cost of making any such purchase. For the purposes of this Section&nbsp;11.12, it shall be prima facie evidence of the matter stated therein, for
the Holder of a Security or the Trustee to certify in a manner satisfactory to the Issuer (indicating the sources of information used) the loss it incurred in making any such purchase. These indemnities constitute a separate and independent
obligation from the Issuer&#146;s and each </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Guarantor&#146;s other obligations, shall give rise to a separate and independent cause of action, shall apply irrespective of any waiver granted by any Holder of a Security or the Trustee (other
than a waiver of the indemnities set out herein) and will continue in full force and effect despite any other judgment, order, claim or proof for a liquidated amount in respect of any sum due under any Security or to the Trustee. For the purposes of
this Section&nbsp;11.12, it shall be sufficient for the Trustee or the Holder, as applicable, to certify (indicating the sources of information used) that it would have suffered a loss had the actual purchase of U.S. Dollars been made with the
amount so received in that other currency on the date of receipt or recovery (or, if a purchase of U.S. Dollars on such date had not been practicable due to current market conditions generally, on the first date on which it would have been
practicable, it being required that the need for a change of date be certified in the manner mentioned above). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.13 <U>No
Recourse Against Others</U>. No director, officer, employee, manager or incorporator of, or holder of any Equity Interests in, the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the
Issuer under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and
release are part of the consideration for issuance of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.14 <U>Successors</U>. All agreements of the Issuer and
each Guarantor in this Indenture and the Securities shall bind its successors. All agreements of the Trustee in this Indenture shall bind its successors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.15 <U>USA PATRIOT Act</U>. In order to comply with the laws, rules, regulations and executive orders in effect from time to time
applicable to banking institutions, including, without limitation, those relating to the funding of terrorist activities and money laundering, including Section&nbsp;326 of the USA PATRIOT Act of the United States (&#147;Applicable Law&#148;), the
Trustee and agents are required to obtain, verify, record and update certain information relating to individuals and entities which maintain a business relationship with the Trustee and agents. Accordingly, each of the parties agree to provide to
the Trustee and agents, upon their request from time to time such identifying information and documentation as may be available for such party in order to enable the Trustee and agents to comply with Applicable Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.16 <U>Multiple Originals</U>. The parties may sign any number of copies of this Indenture by manual, facsimile, pdf or other
electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.17 <U>Table of Contents; Headings</U>. The table of contents, cross-reference sheet and headings of the Articles and Sections of
this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.18 <U>Indenture Controls</U>. If and to the extent that any provision of the
Securities limits, qualifies or conflicts with a provision of this Indenture, such provision of this Indenture shall control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
11.19 <U>Severability</U>. In case any provision in this Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such
provision shall be ineffective only to the extent of such invalidity, illegality or unenforceability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Pages Follow</I>] </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">113 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM N.V.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM HOLDCO II B.V.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM US HOLDINGS I, LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rina E. Teran</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rina E. Teran</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: VP &amp; Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FRANCE HOLDCO S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM GERMANY HOLDCO GMBH&nbsp;&amp; CO. KG</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM SWITZERLAND AG</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM ROLLED PRODUCTS &#150; RAVENSWOOD, LLC</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rina E. Teran</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rina E. Teran</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: VP &amp; Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM DEUTSCHLAND GMBH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM SINGEN GMBH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FRANCE S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FINANCE S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>By: DEUTSCHE BANK NATIONAL TRUST COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rodney Gaughan</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rodney Gaughan</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert S. Peschler</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Robert S. Peschler</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>PROVISIONS RELATING TO ORIGINAL SECURITIES AND ADD-ON SECURITIES </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Definitions</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1. <U>Definitions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">For the purposes of this Appendix A the following terms shall have the meanings indicated below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Definitive Security&#148; means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is
restricted by applicable law) that does not include the Global Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Depository&#148; means The Depository Trust
Company, its nominees and their respective successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Global Securities Legend&#148; means the legend set forth under that
caption in the applicable Exhibit to this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;IAI&#148; means an institutional &#147;accredited investor&#148; as described
in Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Initial Purchasers&#148; means Deutsche Bank Securities
Inc., Goldman, Sachs&nbsp;&amp; Co., Soci&eacute;t&eacute; G&eacute;n&eacute;rale, BNP Paribas, HSBC Bank plc, Mediobanca &#150; Banca di Credito Finanziario S.p.A., Morgan Stanley&nbsp;&amp; Co. LLC, Natixis Securities Americas LLC and such other
initial purchasers listed on Schedule A to the Purchase Agreement entered into in connection with the offer and sale of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;QIB&#148; means a &#147;qualified institutional buyer&#148; as defined in Rule 144A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S&#148; means Regulation S under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S Securities&#148; means all Securities offered and sold outside the United States in reliance on Regulation&nbsp;S. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Period,&#148; with respect to any Securities, means the period of 40 consecutive days beginning on and including the later
of (a)&nbsp;the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given by the Issuer to the
Trustee, and (b)&nbsp;the Issue Date, and with respect to any Add-On Securities that are Transfer Restricted Securities, it means the comparable period of 40 consecutive days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Securities Legend&#148; means the legend set forth in Section&nbsp;2.2(f)(i) herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 501&#148; means Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A&#148; means Rule 144A under the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A Securities&#148; means all Securities offered and sold to QIBs in reliance on
Rule 144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Securities Custodian&#148; means the custodian with respect to a Global Security (as appointed by the Depository) or
any successor person thereto, who shall initially be the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Transfer Restricted Securities&#148; means Definitive Securities
and any other Securities that bear or are required to bear or are subject to the Restricted Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted
Definitive Security&#148; means Definitive Securities and any other Securities that are not required to bear, or are not subject to, the Restricted Securities Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Global Security&#148; means a Global Security which is not a Restricted Global Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2. <U>Other Definitions</U>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom"><U>Term</U>:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><U>Defined&nbsp;in&nbsp;Section</U>:</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Regulation S Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Rule 144A Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)(i)</TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>The Securities</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1. <U>Form and Dating; Global Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Original Securities issued on the date hereof will be (i)&nbsp;offered and sold by the Issuer pursuant to the Purchase Agreement and
(ii)&nbsp;resold, initially only to (1)&nbsp;QIBs in reliance on Rule 144A and (2)&nbsp;Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Original Securities may thereafter be transferred to, among
others, QIBs, purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. Add-On Securities offered after the date hereof may be offered and sold by the Issuer from time to time pursuant to one or more
purchase agreements in accordance with applicable law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Global Securities</U>. (i)&nbsp;Rule 144A Securities initially shall be
represented by one or more Securities in definitive, fully registered, global form without interest coupons (collectively, the &#147;Rule 144A Global Securities&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Regulation S Securities initially shall be represented by one or more Securities in fully registered, global form without
interest coupons (collectively, the &#147;Regulation S Global Securities&#148;), which shall be registered in the name of the Depository or the nominee of the Depository for the accounts of designated agents holding on behalf of Euroclear or
Clearstream. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The provisions of the &#147;Operating Procedures of the Euroclear System&#148; and &#147;Terms and
Conditions Governing Use of Euroclear&#148; and the &#147;General Terms and Conditions of Clearstream Banking&#148; and &#147;Customer Handbook&#148; of Clearstream shall be applicable to transfers of beneficial interests in the Regulation S Global
Securities that are held by participants through Euroclear or Clearstream. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The term &#147;Global Securities&#148; means the Rule 144A Global Securities and
the Regulation S Global Securities. The Global Securities shall bear the Global Security Legend. The Global Securities initially shall (i)&nbsp;be registered in the name of the Depository or the nominee of such Depository, in each case for credit to
an account of an Agent Member, (ii)&nbsp;be delivered to the Trustee as custodian for such Depository and (iii)&nbsp;bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Members of, or direct or indirect participants in, the Depository shall have no rights under this Indenture with respect to
any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Securities. The Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner of
the Global Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other
authorization furnished by the Depository, or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Transfers of Global Securities shall be limited to transfer in whole, but not in part, to the Depository, its successors
or their respective nominees. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Definitive Securities only in accordance with the applicable rules and procedures of the Depository and the provisions of
Section&nbsp;2.2. In addition, a Global Security shall be exchangeable for Definitive Securities if (x)&nbsp;the Depository (1)&nbsp;notifies the Issuer that it is unwilling or unable to continue as depository for such Global Security and the Issuer
thereupon fails to appoint a successor depository or (2)&nbsp;has ceased to be a clearing agency registered under the Exchange Act or (y)&nbsp;there shall have occurred and be continuing an Event of Default with respect to such Global Security;
provided that in no event shall the Regulation S Global Securities be exchanged by the Issuer for Definitive Securities prior to (x)&nbsp;the expiration of the Restricted Period and (y)&nbsp;the receipt by the Registrar of any certificates required
pursuant to Rule 903(b)(3)(ii)(B) under the Securities Act. In all cases, Definitive Securities delivered in exchange for any Global Security or beneficial interests therein shall be registered in the names, and issued in any approved denominations,
requested by or on behalf of the Depository in accordance with its customary procedures. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) In connection with the
transfer of a Global Security as an entirety to beneficial owners pursuant to subsection (i)&nbsp;of this Section&nbsp;2.1(b), such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and
the Trustee shall authenticate and make available for delivery, to each beneficial owner identified by the Depository in writing in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Definitive
Securities of authorized denominations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Transfer Restricted Security delivered in exchange for an interest in a
Global Security pursuant to Section&nbsp;2.2 shall, except as otherwise provided in Section&nbsp;2.2, bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding the foregoing, through the Restricted Period, a beneficial interest in such Regulation S Global Security
may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of Section&nbsp;2.2. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) The Holder of any Global Security may grant proxies and otherwise authorize any Person, including Agent Members and
Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2. <U>Transfer and Exchange</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Transfer and Exchange of Global Securities</U>. A Global Security may not be transferred as a whole except as set forth in
Section&nbsp;2.1(b). Global Securities will not be exchanged by the Issuer for Definitive Securities except under the circumstances described in Section&nbsp;2.1(b)(ii). Global Securities also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.08 and 2.10 of this Indenture. Beneficial interests in a Global Security may be transferred and exchanged as provided in Section&nbsp;2.2(b) or 2.2(g). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Transfer and Exchange of Beneficial Interests in Global Securities</U>. The transfer and exchange of beneficial interests in the Global
Securities shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Transfer Restricted Securities which are Global Securities
(&#147;Restricted Global Securities&#148;) shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in Global Securities shall be transferred or exchanged
only for beneficial interests in Global Securities. Transfers and exchanges of beneficial interests in the Global Securities also shall require compliance with either subparagraph (i)&nbsp;or (ii)&nbsp;below, as applicable, as well as one or more of
the other following subparagraphs, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer of Beneficial Interests in the Same Global
Security</U>. Beneficial interests in any Restricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Security in accordance with the transfer restrictions set
forth in the Restricted Securities Legend; <I>provided</I>,<I> however</I>, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Security may not be made to a U.S. Person or for the
account or benefit of a U.S. Person (other than an Initial Purchaser). A beneficial interest in an Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global
Security. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section&nbsp;2.2(b)(i). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>All Other Transfers and Exchanges of Beneficial Interests in Global Securities</U>. In connection with all transfers
and exchanges of beneficial interests in any Global Security that is not subject to Section&nbsp;2.2(b)(i), the transferor of such beneficial </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
interest must deliver to the Registrar (1)&nbsp;a written order from an Agent Member given to the Depository in accordance with the applicable rules and procedures of the Depository directing the
Depository to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be transferred or exchanged and (2)&nbsp;instructions given in accordance with the applicable rules and
procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Securities contained in
this Indenture and the Securities or otherwise applicable under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Security pursuant to Section&nbsp;2.2(g). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Transfer of Beneficial Interests to Another Restricted Global Security</U>. A beneficial interest in a Restricted
Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Security if the transfer complies with the requirements of Section&nbsp;2.2(b)(ii) above and the Registrar
receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transferee will take delivery in the form of a beneficial interest in a Rule 144A
Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)
if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Transfer and Exchange of Beneficial Interests in a Restricted Global Security for Beneficial Interests in an
Unrestricted Global Security</U>. A beneficial interest in a Restricted Global Security may be exchanged by any holder thereof for a beneficial interest in an Unrestricted Global Security or transferred to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of Section&nbsp;2.2(b)(ii) above and the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the holder of such beneficial interest in a Restricted Global Security proposes to exchange such beneficial interest
for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the holder of such beneficial interest in a Restricted Global Security proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph
(iv)&nbsp;at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall issue and, upon receipt of an written order of the Issuer in the form of an Officer&#146;s Certificate in accordance with Section&nbsp;2.01, the
Trustee shall, upon receipt of a Written Order, authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred or exchanged pursuant to this
subparagraph (iv). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Transfer and Exchange of Beneficial Interests in an Unrestricted Global Security for Beneficial
Interests in a Restricted Global Security</U>. Beneficial interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global
Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Transfer and Exchange of Beneficial Interests in Global Securities for Definitive Securities</U>. A beneficial interest
in a Global Security may not be exchanged for a Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). A beneficial interest in a Global Security may not be transferred to a Person who takes delivery thereof in the
form of a Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). In any case, beneficial interests in Global Securities shall be transferred or exchanged only for Definitive Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Transfer and Exchange of Definitive Securities for Beneficial Interests in Global Securities</U>. Transfers and exchanges of beneficial
interests in the Global Securities also shall require compliance with either subparagraph (i), (ii)&nbsp;or (ii)&nbsp;below, as applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Beneficial Interests in Restricted Global Securities</U>. If any Holder of a Transfer
Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security or to transfer such Transfer Restricted Security to a Person who takes delivery thereof in the form of a beneficial
interest in a Restricted Global Security, then, upon receipt by the Registrar of the following documentation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such Transfer Restricted Security is being transferred to a Qualified Institutional Buyer in accordance with Rule 144A
under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such
Transfer Restricted Security is being transferred to a Non U.S. Person in an offshore transaction in accordance with Rule 903 or Rule 904 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such Transfer Restricted Security is being transferred pursuant to an
exemption from the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such Transfer Restricted Security is being transferred to an Institutional Accredited Investor in reliance on an
exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B)&nbsp;through (D)&nbsp;above, a certificate from such Holder in the form attached to the applicable Security, including the
certifications, certificates and Opinion of Counsel, if applicable; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such Transfer Restricted Security is being
transferred to the Issuer or a Subsidiary thereof, a certificate from such Holder in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">the
Trustee shall cancel the Transfer Restricted Security, and increase or cause to be increased the aggregate principal amount of the appropriate Restricted Global Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Beneficial Interests in Unrestricted Global Securities</U>. A Holder of a Transfer
Restricted Security that is a Definitive Security may exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security or transfer such Transfer Restricted Security to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security only if the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Transfer Restricted Securities proposes to transfer such Transfer Restricted Security to a Person
who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend
are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall cancel the Transfer Restricted Securities and increase or cause to be increased the
aggregate principal amount of the Unrestricted Global Security. If any such transfer or exchange is effected pursuant to this subparagraph (ii)&nbsp;at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall issue and,
upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of
Transfer Restricted Securities transferred or exchanged pursuant to this subparagraph (ii). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Beneficial Interests in
Unrestricted Global Securities</U>. A Holder of an Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Unrestricted Definitive Security to
a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive
Security and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Securities. If any such transfer or exchange is effected pursuant to this subparagraph (iii)&nbsp;at a time when an Unrestricted Global
Security has not yet been issued, the Issuer shall issue and, upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate
principal amount equal to the aggregate principal amount of Unrestricted Definitive Securities transferred or exchanged pursuant to this subparagraph (iii). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Unrestricted Definitive Securities to Beneficial Interests in Restricted Global Securities</U>. An Unrestricted
Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a Restricted Global Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Transfer and Exchange of Definitive Securities for Definitive Securities</U>. Upon request by a Holder of Definitive Securities and
such Holder&#146;s compliance with the provisions of this Section&nbsp;2.2(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the requesting Holder shall present or
surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition,
the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section&nbsp;2.2(e). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Transfer Restricted Securities</U>. A Transfer Restricted Security may be transferred
to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a
certificate in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transfer will be made pursuant to Rule 903 or
Rule 904 under the Securities Act, then the transferor must deliver a certificate in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if the transfer will be made pursuant to an exemption from the registration requirements of the Securities Act in
accordance with Rule 144 under the Securities Act, a certificate in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if the transfer will be made to an IAI in reliance on an exemption from the
registration requirements of the Securities Act other than those listed in subparagraphs (A)&nbsp;through (D)&nbsp;above, a certificate in the form attached to the applicable Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such transfer will be made to the Issuer or a Subsidiary thereof, a certificate in the form attached to the applicable
Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Unrestricted Definitive Securities</U>. Any Transfer Restricted
Security may be exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for an
Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)
if the Holder of such Transfer Restricted Security proposes to transfer such Securities to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the
applicable Security, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Unrestricted Definitive Securities</U>. A Holder of an
Unrestricted Definitive Security may transfer such Unrestricted Definitive Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security at any time. Upon receipt of a request to register such a transfer, the
Registrar shall register the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Unrestricted Definitive
Securities to Transfer Restricted Securities</U>. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global
Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with Section&nbsp;2.11 of this Indenture. At any time prior to such
cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the principal
amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the
beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall
be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Legend</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Except as permitted by the following paragraph (ii), (iii)&nbsp;or (iv), each Security certificate evidencing the Global
Securities and the Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the
legend only): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND
THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE WITH AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE
DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY
EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY
EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(a)&nbsp;TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), SUBJECT TO THE
RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT OF THE
SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional legends: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY
REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS SECURITY (OR ITS PREDECESSOR)
WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF,
ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES
ACT.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Upon any sale or transfer of a Transfer Restricted Security that is a Definitive Security, the Registrar
shall permit the Holder thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Security if the Holder
certifies in writing to the Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Security). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Upon a sale or transfer after the expiration of the Restricted Period of any Security acquired pursuant to Regulation S,
all requirements that such Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such Security be issued in global form shall continue to apply. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Add-On Securities sold in a registered offering shall not be required to bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Cancellation or Adjustment of Global Security</U>. At such time as all beneficial interests in a particular Global Security have been
exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with
Section&nbsp;2.11 of this Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global
Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Obligations with Respect to Transfers and Exchanges of Securities</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall authenticate, Definitive
Securities and Global Securities at the Registrar&#146;s request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) No service charge shall be made for any
registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes, assessments or
similar governmental charge payable upon exchanges pursuant to Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Prior to the due presentation for registration of transfer of any Security, the Issuer, the Trustee, a paying agent or
the Registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuer, the Trustee, the paying agent or the Registrar shall be affected by notice to the contrary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt
and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>No
Obligation of the Trustee</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) None of the Trustee, Registrar or paying agent shall have any responsibility or
obligation to any beneficial owner of a Global Security, a member of, or a participant in the Depository or any other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with
respect to any ownership interest in the Securities or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the
payment of any amount, under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to the Holders under the Securities shall be given or made only to the registered Holders (which
shall be the Depository or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The
Trustee, Registrar or paying agent may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its members, participants and any beneficial owners. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) None of the Trustee, Registrar or paying agent shall have any obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Security (including any transfers between or among Depository participants, members or beneficial
owners in any Global Security) other than to require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same
to determine substantial compliance as to form with the express requirements hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF FACE OF ORIGINAL OR ADD-ON SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Global Securities Legend] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (&#147;DTC&#148;), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS
REGISTERED IN THE NAME OF CEDE&nbsp;&amp; CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE&nbsp;&amp; CO., OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC),
ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE&nbsp;&amp; CO., HAS AN INTEREST HEREIN. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO DTC, TO NOMINEES OF DTC OR TO A SUCCESSOR THEREOF OR SUCH
SUCCESSOR&#146;S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Restricted Securities Legend] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE
HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE
WITH AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE
SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT
PROVIDED BY RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY
(1)(a)&nbsp;TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b)&nbsp;IN A TRANSACTION MEETING THE
REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), SUBJECT
TO THE RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT
OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional
legends: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY
REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A
TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT
PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF ORIGINAL SECURITY] </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">No.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8.00% Senior Note due 2023 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">CUSIP&nbsp;No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">ISIN No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Constellium N.V., a public company with limited liability (<I>naamloze vennootschap</I>) incorporated under
the laws of The Netherlands, promises to pay to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, or registered assigns, the principal sum [of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dollars] [listed on the Schedule
of Increases or Decreases in Global Security attached hereto]<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> on January&nbsp;15, 2023. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Interest Payment Dates: January&nbsp;15 and July&nbsp;15 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Record Dates: January&nbsp;1 and July&nbsp;1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Additional provisions of this Security are set forth on the other side of this Security. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Use the Schedule of Increases and Decreases language if Security is in Global Form. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">TRUSTEE&#146;S CERTIFICATE OF AUTHENTICATION</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEUTSCHE BANK TRUST COMPANY AMERICAS,</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; font-size:10pt; font-family:Times New Roman">as Trustee, certifies that this is one of the Securities referred to in the Indenture.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Authorized Signatory</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><U>*</U>/</TD>
<TD ALIGN="left" VALIGN="top">If the Security is to be issued in global form, add the Global Securities Legend and the attachment from Exhibit A captioned &#147;TO BE ATTACHED TO GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY&#148;. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF REVERSE SIDE OF ORIGINAL SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8.00% Senior Note due 2023 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Interest</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">CONSTELLIUM N.V., a public company with limited liability (<I>naamloze
vennootschap</I>) incorporated under the laws of The Netherlands (together with its successors and assigns under the Indenture hereinafter referred to, the &#147;Issuer&#148;), promises to pay interest on the principal amount of this Security
semiannually in arrears on each January&nbsp;15 and July&nbsp;15 commencing on July&nbsp;15, 2015. Interest on the Securities will accrue from the Issue Date or the most recent date to which interest has been paid or provided for until the principal
hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Interest on the Securities will accrue
at a rate of 8.00%&nbsp;per annum, payable semiannually in arrears. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities are
originally issued. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>Method of Payment</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on the Securities (except defaulted
interest) to the Persons who are registered Holders at the close of business on the January&nbsp;1 or July&nbsp;1 immediately preceding the interest payment date even if Securities are canceled after the record date and on or before the interest
payment date (whether or not a Business Day). Holders must surrender Securities to the paying agent to collect principal payments. The Issuer shall pay principal, premium, if any, and interest in money of the United States of America that at the
time of payment is legal tender for payment of public and private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately
available funds to the accounts specified by The Depository Trust Company or any successor depositary. The Issuer shall make all payments in respect of a certificated Security (including principal, premium, if any, and interest), at the office of
the paying agent, except that, at the option of the Issuer, payment of interest may be made by mailing a check to the registered address of each Holder thereof; <I>provided</I>, <I>however</I>, that payments on the Securities may also be made, in
the case of a Holder of at least $1,000,000 aggregate principal amount of Securities, by wire transfer to a U.S. dollar account maintained by the payee with a bank in the United States if such Holder elects payment by wire transfer by giving written
notice to the Trustee or paying agent to such effect designating such account no later than 30 days immediately preceding the relevant due date for payment (or such other date as the Trustee may accept in its discretion). </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><U>Paying Agent and Registrar</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Initially, Deutsche Bank Trust Company Americas (the
&#147;Trustee&#148;), will act as Principal Paying Agent and Registrar. The Issuer may appoint and change any paying agent or Registrar without notice. The Issuer or any of its domestically incorporated Wholly Owned Subsidiaries may act as paying
agent or Registrar. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><U>Indenture</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer issued the Securities under an Indenture dated as of
December&nbsp;19, 2014 (the &#147;Indenture&#148;), among the Issuer, the Guarantors party thereto (the &#147;Guarantors&#148;) and the Trustee. The terms of the Securities include those stated in the Indenture. Terms defined in the Indenture and
not defined herein have the meanings ascribed thereto in the Indenture. The Securities are subject to all terms and provisions of the Indenture, and the Holders (as defined in the Indenture) are referred to the Indenture for a statement of such
terms and provisions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities are senior unsecured obligations of the Issuer. This Security is one of the Original Securities
referred to in the Indenture. The Securities include the Original Securities and any issued Add-On Securities. The Original Securities and any Add-On Securities are treated as a single series of securities under the Indenture. The Indenture imposes
certain limitations on the ability of the Issuer and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual
restrictions upon the payment of certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of Capital Stock of the Issuer and such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates,
create or incur Liens and make Asset Sales. The Indenture also imposes limitations on the ability of the Issuer and each Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its
property. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To guarantee the due and punctual payment of the principal and interest on the Securities and all other amounts payable by the
Issuer under the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities and the Indenture, the Guarantors have, jointly and severally,
unconditionally guaranteed the Guaranteed Obligations on a senior unsecured basis pursuant to the terms of the Indenture. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><U>Optional Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as set forth in the following two paragraphs, the Securities
shall not be redeemable at the option of the Issuer prior to January&nbsp;15, 2018. On or after January&nbsp;15, 2018, the Securities shall be redeemable at the option of the Issuer, in whole at any time or in part from time to time, upon not less
than 30 nor more than 60 days&#146; prior notice delivered electronically or by first-class mail to each Holder&#146;s registered address, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid
interest, if any, to the redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on
January&nbsp;15 of the years set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.90pt; font-size:8pt; font-family:Times New Roman"><B>Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption&nbsp;Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2020</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2021 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, prior to January&nbsp;15, 2018, the Issuer may redeem the Securities at its option,
in whole at any time or in part from time to time, upon not less than 30 nor more than 60 days&#146; prior notice electronically delivered or mailed by first-class mail to each Holder&#146;s registered address, at a redemption price equal to 100% of
the principal amount of the Securities redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest
due on the relevant interest payment date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, at any time and from time to time prior to January&nbsp;15,
2018, the Issuer may redeem Securities in an aggregate amount equal to up to 35% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance of Add-On Securities), with an amount equal to the net cash
proceeds of one or more Equity Offerings by the Issuer, at a redemption price (expressed as a percentage of principal amount thereof) of 108.00%, plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on
the relevant record date to receive interest due on the relevant interest payment date); <I>provided</I>, <I>however</I>, that at least 50% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance
of Add-On Securities) must remain outstanding after each such redemption; and provided, further, that such redemption shall occur within 90 days after the date on which any such Equity Offering is consummated upon not less than 30 nor more than 60
days&#146; notice electronically delivered or mailed to each Holder of Securities being redeemed and otherwise in accordance with the procedures set forth in the Indenture. Any redemption or notice of any redemption may, at the Issuer&#146;s
discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering, other debt or equity financing, acquisition or other corporate transaction or event, and, at the Issuer&#146;s
discretion, the redemption date may be delayed until such time as any or all of such conditions have been satisfied. In addition, the Issuer may provide in any notice of redemption that payment of the redemption price and the performance of its
obligations with respect to such redemption may be performed by another person; <I>provided</I>, <I>however</I>, that the Issuer will remain obligated to pay the redemption price and perform its obligations with respect to such redemption in the
event such other person fails to do so and all conditions to such redemption, if any, are satisfied. Notice of any redemption in respect of an Equity Offering may be given prior to completion thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an optional redemption date is on or after an interest record date and on or before the related interest payment date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"><U>Special Mandatory Redemption</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Special Mandatory Redemption Event (as defined in
the Indenture) occurs, the Issuer shall, on the Special Mandatory Redemption Date (as defined in the Indenture), redeem all and not less than all of the Securities outstanding as of such date, at a redemption price equal to 100% of the principal
amount of the Securities, plus accrued and unpaid interest from the Issue Date to, but excluding, the Special Mandatory Redemption Date (such redemption being referred to herein as a &#147;Special Mandatory Redemption&#148;). Upon a Special
Mandatory </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Redemption Event, all Securities of this series shall become due and payable on the Special Mandatory Redemption Date, regardless of whether previously called for redemption. Upon the
consummation of the Wise Acquisition (as defined in the Indenture), the provisions of this paragraph will terminate and cease to apply. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"><U>Redemption for Taxation Reasons</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer may redeem the Securities, at its option,
in whole, but not in part, at any time upon giving not less than 30 nor more than 60 days prior notice to Holders (which notice shall be irrevocable) at a redemption price equal to 100% of the principal amount of the Securities, together with
accrued and unpaid interest, if any, to (but not including) the date fixed for redemption of such series (a &#147;Tax Redemption Date&#148;) (subject to the right of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date) and all Additional Amounts (as defined in Section&nbsp;11.09 of the Indenture), if any, then due or that will become due on the Tax Redemption Date as a result of the redemption or otherwise, if any, if the Issuer
determines in good faith that, as a result of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a) any change in, or amendment to, the law or treaties (or any regulations, protocols or
rulings promulgated thereunder) of a Relevant Taxing Jurisdiction (as defined in Section&nbsp;2.15 of the Indenture) affecting taxation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b) any change in official position regarding the application, administration or interpretation of such laws, treaties, regulations, protocols
or rulings (including a holding, judgment or order by a government agency or court of competent jurisdiction) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of the foregoing in clauses
(1)&nbsp;and (2), a &#147;Change in Tax Law&#148;), any Payor (as defined in Section&nbsp;2.15 of the Indenture), with respect to the Securities or a Guarantee is, or on the next date on which any amount would be payable in respect of the Securities
would be, required to pay any Additional Amounts, and such obligation cannot be avoided by taking reasonable measures available to such Payor (including the appointment of a new paying agent or, where such payment would be reasonable, the payment
through another Payor); provided that no Payor shall be required to take any measures that in the Issuer&#146;s good faith determination would result in the imposition on such person of any legal or regulatory burden (other than any such burden that
is de minimis to the Issuer) or the incurrence by such person of additional costs (other than any such costs that are de minimis to the Issuer) or would otherwise result in any adverse consequences to such person (other than any such adverse
consequences that are de minimis). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the case of any Payor, the Change in Tax Law must be announced and become effective on or after the
date of the Offering Memorandum (or if the applicable Relevant Tax Jurisdiction becomes a Relevant Tax Jurisdiction on a date after the date of the Offering Memorandum, then such later date). Notwithstanding the foregoing, no such notice of
redemption will be given earlier than 90 days prior to the earliest date on which the Payor would be obligated to make such payment of Additional Amounts. Prior to the publication, mailing or delivery of any notice of redemption of the Securities
pursuant to the foregoing, the Issuer will deliver to the Trustee and applicable paying agent (a)&nbsp;an Officer&#146;s Certificate stating that it is entitled to effect such redemption and setting forth a statement of facts showing that the
conditions precedent to its right so to redeem have been satisfied and (b)&nbsp;an opinion of an </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
independent tax counsel of recognized standing to the effect that the Payor would be obligated to pay Additional Amounts as a result of a Change in Tax Law. The Trustee will accept such
Officer&#146;s Certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent described above, in which event it will be conclusive and binding on the Holders of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The foregoing provisions will apply <I>mutatis mutandis</I> to any successor to a Payor. The foregoing provisions will survive any
termination, defeasance or discharge of the Indenture. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"><U>Sinking Fund</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities are not subject to any sinking fund. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice of Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notice of redemption will be electronically delivered or mailed by
first-class mail at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at his, her or its registered address; <I>provided</I>, <I>however</I>, that in the case of a Special Mandatory
Redemption, such notices may be mailed less than 30 days (but at least 10 days) before the Special Redemption Date. Securities in denominations larger than $250,000 may be redeemed in part but only in whole multiples of $1,000 in excess thereof. If
money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with a paying agent on or before the redemption date and certain other
conditions are satisfied, on and after such date interest ceases to accrue on such Securities (or such portions thereof) called for redemption. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top">Repurchase of Securities at the Option of the <U> </U></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Holders upon Change of Control and
Asset Sales</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon the occurrence of a Change of Control, each Holder shall have the right, subject to certain conditions specified in
the Indenture, to cause the Issuer to repurchase all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject
to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), as provided in, and subject to the terms of, the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In accordance with Section&nbsp;4.06 of the Indenture, the Issuer will be required to offer to purchase Securities upon the occurrence of
certain events. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"><U>Ranking </U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities and the Guarantees are senior unsecured obligations of the
Issuer and the Guarantors and will be of equal ranking with all present and future senior unsecured indebtedness. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"><U>Denominations; Transfer; Exchange</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities are in registered form, without
coupons, in denominations of $250,000 and any integral multiple of $1,000 in excess thereof. A Holder shall register the transfer of or exchange of Securities in accordance with the Indenture. Upon any registration of transfer or exchange, the
Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any
Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to a selection of Securities to be
redeemed. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"><U>Persons Deemed Owners</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The registered Holder of this Security shall be treated as the
owner of it for all purposes. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top"><U>Unclaimed Money</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If money for the payment of principal or interest remains unclaimed for
two years, the Trustee and a paying agent shall pay the money back to the Issuer at their written request unless an abandoned property law designates another Person. After any such payment, the Holders entitled to the money must look to the Issuer
for payment as general creditors and the Trustee and a paying agent shall have no further liability with respect to such monies. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top"><U>Discharge and Defeasance</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to certain conditions, the Issuer at any time may
terminate some of or all of its obligations under the Securities and the Indenture if the Issuer deposits with the Trustee money or U.S. Government Obligations for the payment of principal and interest on the Securities to redemption or maturity, as
the case may be. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top"><U>Amendment; Waiver</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to certain exceptions set forth in the Indenture,
(i)&nbsp;the Indenture or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities and (ii)&nbsp;any past default or compliance with any provisions may
be waived with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Issuer and the Trustee may
amend the Indenture or the Securities (i)&nbsp;to cure any ambiguity, omission, mistake, defect or inconsistency; (ii)&nbsp;to provide for the assumption by a Successor Company of the obligations of the Issuer under the Indenture and the Securities;
(iii)&nbsp;to provide for the assumption by a Successor Guarantor of the obligations of a Guarantor under the Indenture and its Guarantee; (iv)&nbsp;to provide for uncertificated Securities in addition to or in place of certificated Securities
(provided that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code, or in a manner such that the uncertificated Securities are described in Section&nbsp;163(f)(2)(B) of the Code); (v)&nbsp;to
add additional Guarantees with respect to the Securities; (vi)&nbsp;to make any change that would provide additional rights or benefits to the Holders or that does not adversely affect the legal rights of the Holders; (vii)&nbsp;to make changes
relating to the transfer and legending of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Securities; (viii)&nbsp;to secure the Securities; (ix)&nbsp;to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred upon the
Issuer or any Guarantor; (x)&nbsp;to make any change that does not adversely affect the rights of any Holder in any material respect; (xi)&nbsp;to effect any provision of the Indenture; (xii)&nbsp;to provide for the issuance of the Add-On
Securities, as defined in the Indenture; (xiii)&nbsp;to evidence and provide for the acceptance and appointment under the Indenture of a successor Trustee thereunder pursuant to the requirements thereof; or (xiv)&nbsp;to conform the text of the
Indenture, Guarantees or Securities to any provision of the section entitled &#147;Description of the Notes&#148; in the Offering Memorandum. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">17.</TD>
<TD ALIGN="left" VALIGN="top"><U>Defaults and Remedies</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>If an Event of Default occurs (other than an Event of
Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities, in each case, by notice to the Issuer, may
declare the principal of, premium, if any, and accrued but unpaid interest on all the Securities to be due and payable <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be
effective until the earlier of (1)&nbsp;five Business Days after the giving of written notice to the Issuer and the Representative under the Credit Facilities and (2)&nbsp;the day on which any Bank Indebtedness is accelerated. Upon such a
declaration, such principal and interest will be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer occurs, the principal of, premium, if any, and interest on all
the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may
rescind any such acceleration with respect to the Securities and its consequences.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs and is
continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security
satisfactory to the Trustee against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy
with respect to the Indenture or the Securities unless (i)&nbsp;such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii)&nbsp;the Holders of at least 25% in principal amount of the outstanding Securities have
requested the Trustee in writing to pursue the remedy, (iii)&nbsp;such Holders have offered the Trustee reasonable security or indemnity satisfactory to the Trustee against any loss, liability or expense, (iv)&nbsp;the Trustee has not complied with
such request within 60 days after the receipt of the request and the offer of security or indemnity and (v)&nbsp;the Holders of a majority in principal amount of the outstanding Securities have not given the Trustee a direction inconsistent with
such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the
rights of any other Holder or that would involve the Trustee in personal or financial liability. Prior to taking any action under the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Indenture at the instruction of Holders in respect of an Event of Default, the Trustee shall be entitled to indemnification or security satisfactory to it in its sole discretion against all
losses and expenses caused by taking or not taking such action. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">18.</TD>
<TD ALIGN="left" VALIGN="top"><U>Trustee Dealings with the Issuer</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee under the Indenture, in its individual or
any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would
have if it were not Trustee. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">19.</TD>
<TD ALIGN="left" VALIGN="top"><U>No Recourse Against Others</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No director, officer, employee, manager, incorporator or
holder of any Equity Interests (as defined in the Indenture) in the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuer under the Securities, the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">20.</TD>
<TD ALIGN="left" VALIGN="top"><U>Authentication</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Security shall not be valid until an authorized signatory of the
Trustee (or an authenticating agent) manually signs the certificate of authentication on the other side of this Security. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">21.</TD>
<TD ALIGN="left" VALIGN="top"><U>Abbreviations</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Customary abbreviations may be used in the name of a Holder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">22.</TD>
<TD ALIGN="left" VALIGN="top"><U>Governing Law</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">23.</TD>
<TD ALIGN="left" VALIGN="top"><U>CUSIP Numbers; ISINs</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer has caused CUSIP numbers and ISINs to be printed on the
Securities and has directed the Trustee to use CUSIP numbers and ISINs in notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any
notice of redemption and reliance may be placed only on the other identification numbers placed thereon. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>The Issuer will furnish to
any Holder of Securities upon written request and without charge to the Holder a copy of the Indenture which has in it the text of this Security.</B> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ASSIGNMENT FORM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To assign this Security, fill in the form below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I or we
assign and transfer this Security to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:2.00em; font-size:10pt; font-family:Times New Roman">(Print or type assignee&#146;s name, address and zip code)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:2.00em; font-size:10pt; font-family:Times New Roman">(Insert assignee&#146;s soc. sec. or tax I.D. No.)</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and irrevocably appoint
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for him. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="9"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sign exactly as your name appears on the other
side of this Security. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REGISTRATION OF TRANSFER RESTRICTED SECURITIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This certificate relates to $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; principal amount of Securities held in (check applicable space)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; book-entry or &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; definitive form by the undersigned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
undersigned (check one box below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">has requested the Trustee by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depository a Security or Securities in definitive, registered form of authorized denominations and an
aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above);</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">has requested the Trustee by written order to exchange or register the transfer of a Security or Securities.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of
the period referred to in Rule 144(k) under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK ONE BOX BELOW </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the Issuer; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the
Registrar for registration in the name of the Holder, without transfer; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3)
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to an effective registration statement under the Securities Act of 1933; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> inside the United States to a &#147;qualified institutional buyer&#148;
(as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case
pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5)
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Security shall
be held immediately after the transfer through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to an institutional &#147;accredited investor&#148; (as defined in Rule
501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and agreements; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to another available exemption from registration provided by
Rule 144 under the Securities Act of 1933. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless one of the boxes is checked, the Trustee will refuse to register any of the Securities evidenced by this
certificate in the name of any Person other than the registered Holder thereof; <I>provided</I>,<I> however</I>, that if box (5), (6)&nbsp;or (7)&nbsp;is checked, the Issuer or the Trustee may require, prior to registering any such transfer of the
Securities, such legal opinions, certifications and other information as the Issuer or the Trustee have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TO BE COMPLETED BY PURCHASER IF (4)&nbsp;ABOVE IS CHECKED. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a &#147;qualified institutional buyer&#148; within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule
144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned&#146;s foregoing representations in order to claim the exemption from registration provided by Rule 144A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Dated:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">NOTICE: To be executed by an executive officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[TO BE ATTACHED TO GLOBAL SECURITIES] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The initial principal amount of this Global Security is $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The following increases or
decreases in this Global Security have been made: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">Date of Exchange</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Amount&nbsp;of&nbsp;decrease&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global Security</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Amount&nbsp;of&nbsp;increase&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global Security</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Principal&nbsp;amount&nbsp;of&nbsp;this<BR>Global&nbsp;Security&nbsp;following<BR>such decrease or increase</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Signature&nbsp;of&nbsp;authorized<BR>signatory of Trustee or<BR>Securities Custodian</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OPTION OF HOLDER TO ELECT PURCHASE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have this Security purchased by the Issuer pursuant to Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control)
of the Indenture, check the box: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="46%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Asset Sale&nbsp;&nbsp;</B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT><B></B><B></B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center"><B>Change of Control&nbsp;&nbsp;</B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT><B></B><B></B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have only part of this Security purchased by the Issuer pursuant to
Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control) of the Indenture, state the amount ($250,000 or any integral multiple of $1,000 in excess thereof): </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Date:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Your&nbsp;Signature:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>(Sign exactly as your name appears on the other side of this Security)</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="41%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Signature&nbsp;Guarantee:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:4.00em; font-size:10pt; font-family:Times New Roman"><B>Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program
reasonably acceptable to the Trustee</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF SUPPLEMENTAL INDENTURE] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>SUPPLEMENTAL INDENTURE (this &#147;Supplemental Indenture&#148;) dated as of
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], among [GUARANTOR] (the &#147;New Guarantor&#148;), a subsidiary of CONSTELLIUM N.V., (or its successor), a public company
with limited liability (<I>naamloze vennootschap</I>) incorporated under the laws of The Netherlands (the &#147;Issuer&#148;) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee under the indenture referred to below (the &#147;Trustee&#148;).<I>
</I></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H : </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS the Issuer and the existing Guarantors have heretofore executed and delivered to the Trustee an indenture (as amended, supplemented or
otherwise modified, the &#147;Indenture&#148;) dated as of December&nbsp;19, 2014, providing initially for the issuance of $400,000,000 in aggregate principal amount of the Issuer&#146;s 8.00% Senior Notes due 2023 (the &#147;Securities&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS Section&nbsp;4.11 of the Indenture provides that under certain circumstances the Issuer are required to cause the New Guarantor to
execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally guarantee all the Issuer&#146;s Obligations under the Securities and the Indenture pursuant to a Guarantee on the terms and
conditions set forth herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS pursuant to Section&nbsp;9.01 of the Indenture, the Trustee, the Issuer and the existing
Guarantors are authorized to execute and deliver this Supplemental Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the foregoing and for
other good and valuable consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Defined Terms</U>. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital hereto are used
herein as therein defined, except that the term &#147;Holders&#148; in this Guarantee shall refer to the term &#147;Holders&#148; as defined in the Indenture and the Trustee acting on behalf of and for the benefit of such Holders. The words
&#147;herein,&#148; &#147;hereof&#148; and &#147;hereby&#148; and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Agreement to Guarantee</U>. The New Guarantor hereby agrees, jointly and severally with all existing Guarantors (if any), to
unconditionally guarantee the Issuer&#146;s Obligations under the Securities and the Indenture on the terms and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture
and the Securities and to perform all of the obligations and agreements of a Guarantor under the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Notices</U>. All
notices or other communications to the New Guarantor shall be given as provided in Section&nbsp;11.03 of the Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Ratification of Indenture; Supplemental Indentures Part of Indenture</U>. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all
purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Governing
Law</U>. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Trustee Makes No Representation</U>. The Trustee makes no representation as to the validity or sufficiency of this Supplemental
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Counterparts</U>. The parties may sign any number of copies of this Supplemental Indenture by manual, facsimile, pdf or
other electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Effect of Headings</U>. The Section headings herein are for convenience only and shall not affect the construction thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NEW GUARANTOR]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK TRUST COMPANY AMERICAS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 3 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.13
<SEQUENCE>8
<FILENAME>d908770dex413.htm
<DESCRIPTION>EX-4.13
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.13</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.13 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSTELLIUM N.V. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">certain Guarantors from time to time parties hereto </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&#128;240,000,000 7.00% Senior Notes due 2023 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDENTURE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of December&nbsp;19, 2014 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK
TRUST COMPANY AMERICAS, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Trustee </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK AG, LONDON BRANCH </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Principal Paying Agent </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEUTSCHE BANK LUXEMBOURG S.A. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as
Registrar and Transfer Agent </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 1 DEFINITIONS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Definitions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules of Construction</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acts of Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 2 THE SECURITIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form and Dating</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution and Authentication</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registrar; Transfer Agent and Paying Agent</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">40</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Paying Agent to Hold Money in Trust</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holder Lists</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer and Exchange</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved.]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cancellation</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulted Interest</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ISINs, etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Calculation of Principal Amount of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Amounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 3 REDEMPTION</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Applicability of Article</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices to Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selection of Securities to Be Redeemed</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Optional Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Notice of Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">49</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit of Redemption Price</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Securities Redeemed in Part</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Special Mandatory Redemption</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 4 COVENANTS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reports and Other Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="77%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Restricted Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dividend and Other Payment Restrictions Affecting Subsidiaries</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Asset Sales</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions with Affiliates</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change of Control</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compliance Certificate</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Listing and General Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Liens</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance of Office or Agency</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Termination and Suspension of Certain Covenants</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prescription</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 5 SUCCESSOR COMPANY</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Issuer May Merge or Transfer Assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 6 DEFAULTS AND REMEDIES</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acceleration</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Past Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Control by Majority</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Suits</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of the Holders to Receive Payment</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collection Suit by Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee May File Proofs of Claim</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Priorities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Undertaking for Costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Stay or Extension Laws</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 7 TRUSTEE</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Duties of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Individual Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee&#146;s Disclaimer</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Affiliate Subordination Agreement</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compensation and Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Trustee by Merger</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 8 DISCHARGE OF INDENTURE; DEFEASANCE</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Discharge of Liability on Securities; Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions to Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Application of Trust Money</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment to Issuer</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnity for European Government Obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reinstatement</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 9 AMENDMENTS AND WAIVERS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Without Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">With Consent of the Holders</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Revocation and Effect of Consents and Waivers</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notation on or Exchange of Securities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee to Sign Amendments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment for Consent</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Voting Terms; Calculation of Principal Amount</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 10 GUARANTEES</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Liability</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Automatic Termination of Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Waiver</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Modification</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution of Supplemental Indenture for Future Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-Impairment</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ARTICLE 11 MISCELLANEOUS</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ranking</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">[Reserved]</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certificate and Opinion as to Conditions Precedent</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Statements Required in Certificate or Opinion</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">When Securities Disregarded</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules by Trustee, Paying Agent and Registrar</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legal Holidays</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GOVERNING LAW</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consent to Jurisdiction and Service</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Currency Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Recourse Against Others</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">USA PATRIOT Act</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Multiple Originals</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Table of Contents; Headings</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indenture Controls</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appendix&nbsp;A &nbsp;&nbsp;&nbsp;&nbsp;&#150;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Provisions Relating to Original Securities and Add-On Securities</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">EXHIBIT INDEX</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;A &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Original Security</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;B&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#150;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Supplemental Indenture</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>INDENTURE dated as of December&nbsp;19, 2014 among CONSTELLIUM N.V., a public company with
limited liability (<I>naamloze vennootschap</I>) incorporated under the laws of The Netherlands (the &#147;Issuer&#148;), the GUARANTORS (as defined herein) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee (the &#147;Trustee&#148;), DEUTCHE BANK
AG, LONDON BRANCH, as Principal Paying Agent and DEUTSCHE BANK LUXEMBOURG S.A., as Registrar and Transfer Agent. <I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each party
agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of (a)&nbsp;&#128;240,000,000 aggregate principal amount of the Issuer&#146;s 7.00% Senior Notes due 2023 issued on the date hereof (the
&#147;Original Securities&#148;) and (b)&nbsp;any additional Securities that may be issued after the date hereof in the form of Exhibit A (the &#147;Add-On Securities&#148; (all such securities in clauses (a)&nbsp;and (b)&nbsp;being referred to
collectively as the &#147;Securities&#148;). Subject to the conditions and compliance with the covenants set forth herein, the Issuer may issue an unlimited aggregate principal amount of Add-On Securities without the consent of Holders. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 1 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.01 <U>Definitions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Facility&#148; means the ABL Credit Agreement, dated as of May&nbsp;25, 2012, among Constellium Holdco II B.V., Constellium U.S.
Holdings I, LLC, Constellium Rolled Products Ravenswood, LLC, as borrower, the lenders from time to time party thereto Deutsche Bank Trust Company Americas, as administrative agent and collateral agent, as amended by the First Amendment dated as of
January&nbsp;7, 2013, the Second Amendment dated as of March&nbsp;20, 2013, and the Third Amendment dated as of October&nbsp;1, 2013, and as may be further amended, restated, supplemented, waived, replaced (whether or not upon termination, and
whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any
portion of the Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements or increasing the amount loaned or issued thereunder or altering the maturity thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;ABL Obligors&#148; means the borrower and the guarantors under the ABL Facility. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Acquired Indebtedness&#148; means, with respect to any specified Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Indebtedness, Preferred Stock or Disqualified Stock of any other Person existing at the time such other Person is merged,
consolidated or amalgamated with or into or became a Restricted Subsidiary of such specified Person, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Indebtedness,
Preferred Stock or Disqualified Stock secured by a Lien encumbering any asset acquired by such specified Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Affiliate&#148; of
any specified Person means any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, &#147;control&#148; (including, with correlative
meanings, the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
terms &#147;controlling,&#148; &#147;controlled by&#148; and &#147;under common control with&#148;), as used with respect to any Person, means the possession, directly or indirectly, of the power
to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Applicable Premium&#148; means, with respect to any Security on any applicable redemption date, the greater of the following, as
calculated by the Issuer: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 1% of the then outstanding principal amount of the Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the excess of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the present value at such redemption date of (i)&nbsp;the redemption price of the Security, at January&nbsp;15, 2018 (such
redemption price being set forth in Paragraph 5 of the Security plus (ii)&nbsp;all required interest payments due on the Security through January&nbsp;15, 2018 (excluding accrued but unpaid interest), computed using a discount rate equal to the Bund
Rate as of such redemption date plus 50 basis points; over </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the then outstanding principal amount of such Security.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Asset Sale&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, conveyance, transfer or other disposition (whether in a single transaction or a series of related transactions)
of property or assets (including by way of a Sale/Leaseback Transaction) outside the ordinary course of business of the Issuer or any Restricted Subsidiary of the Issuer (each referred to in this definition as a &#147;disposition&#148;) or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issuance or sale of Equity Interests (other than directors&#146; qualifying shares and shares issued to foreign
nationals or other third parties to the extent required by applicable law) of any Restricted Subsidiary (other than to the Issuer or another Restricted Subsidiary of the Issuer) (whether in a single transaction or a series of related transactions),
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in each case other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a disposition of Cash Equivalents or Investment Grade Securities or damaged, obsolete or worn out property or equipment in
the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) transactions permitted pursuant to Section&nbsp;5.01 or any disposition that
constitutes a Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) any Restricted Payment or Permitted Investment that is permitted to be made, and is
made, under Section&nbsp;4.04; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any disposition of assets or issuance or sale of Equity Interests of any Restricted
Subsidiary, which assets or Equity Interests so disposed or issued have an aggregate Fair Market Value of less than &#128;10.0 million; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) any disposition of property or assets, or the issuance of securities, by a
Restricted Subsidiary of the Issuer to the Issuer or by the Issuer or a Restricted Subsidiary of the Issuer to a Restricted Subsidiary of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) any exchange of assets (including a combination of assets and Cash Equivalents) for assets related to a Similar Business of
comparable or greater market value or usefulness to the business of the Issuer and its Restricted Subsidiaries as a whole, as determined in good faith by the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) foreclosure or any similar action with respect to any property or any other assets of the Issuer or any of its Restricted
Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) any sale of Equity Interests in, or Indebtedness or other securities of, an Unrestricted Subsidiary;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the lease, assignment or sublease of any real or personal property in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) any sale of inventory or other assets in the ordinary course of business, or which are no longer useful or necessary in the
operation of the business of the Issuer and its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any grant in the ordinary course of business
of any license of patents, trademarks, know-how or any other intellectual property; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) an issuance of Capital Stock
pursuant to an equity incentive or compensation plan approved by the Board of Directors of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) dispositions in
connection with Permitted Liens; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any financing transaction with respect to property built or acquired by the Issuer or
any Restricted Subsidiary after the Issue Date, including any Sale/Leaseback Transaction or asset securitization permitted by this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) any disposition of Capital Stock of a Restricted Subsidiary pursuant to an agreement or other obligation with or to a
Person (other than the Issuer or a Restricted Subsidiary) from whom such Restricted Subsidiary was acquired or from whom such Restricted Subsidiary acquired its business and assets (having been newly formed in connection with such acquisition), made
as part of such acquisition and in each case comprising all or a portion of the consideration in respect of such sale or acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) any surrender or waiver of contract rights or the settlement, release, recovery on or surrender of contract, tort or other
claims of any kind; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) a transfer of accounts receivable and related assets of the type specified in the definition of
&#147;Receivables Financing&#148; (or a fractional undivided interest therein) by a Receivables Subsidiary or any Restricted Subsidiary (w)&nbsp;under the Factoring Facilities, (x)&nbsp;in a Qualified Receivables Financing, (y)&nbsp;under any other
factoring on arm&#146;s-length terms or (z)&nbsp;in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) the sale of any property in a Sale/Leaseback Transaction within six months of
the acquisition of such property; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(s) dispositions of receivables in connection with the compromise, settlement or
collection thereof in the ordinary course of business or in bankruptcy or similar proceedings and exclusive of factoring or similar arrangements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Credit Facilities&#148; means the credit facilities described in clauses (i)&nbsp;and (ii)&nbsp;of the definition of Credit
Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Bank Indebtedness&#148; means any and all amounts payable under or in respect of any Credit Facilities provided by bank
or other institutional lenders (excluding Credit Facilities providing for publicly offered or privately placed capital markets indebtedness), as amended, restated, supplemented, waived, replaced, restructured, repaid, refunded, refinanced or
otherwise modified from time to time (including after termination of the Bank Credit Facilities), including principal, premium (if any), interest (including interest accruing on or after the filing of any petition in bankruptcy or for reorganization
relating to the Issuer whether or not a claim for post-filing interest is allowed in such proceedings), fees, charges, expenses, reimbursement obligations, guarantees and all other amounts payable thereunder or in respect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Board of Directors&#148; means, as to any Person, the board of directors or managers, as applicable, of such Person (or, if such Person
is a partnership, the board of directors or other governing body of the general partner of such Person) or any duly authorized committee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Borrowing Base&#148; means, as of any date, an amount equal to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 85% of the face amount of accounts receivable owned by the ABL Obligors as of the end of the most recent fiscal quarter
preceding such date; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the lesser of (i)&nbsp;80% of the lower of cost or market and (ii)&nbsp;85% of net orderly
liquidation value, in each case, of inventory owned by the ABL Obligors as of the end of the most recent fiscal quarter preceding such date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;Bund Rate&#148; means, as of any redemption date of the Securities, the yield to maturity as of the earlier of (a)&nbsp;such
redemption date or (b)&nbsp;the date on which such Securities are defeased or satisfied and discharged, of the most recently issued direct obligations of the Federal Republic of Germany (Bunds or Bundesanleihen) with a constant maturity (as
officially compiled and published in the most recent financial statistics that have become publicly available at least two Business Days prior to such earlier date (or, if such financial statistics are not so published or available, any publicly
available source of similar market data selected by the Issuer in good faith)) most nearly equal to the period from the redemption date to January&nbsp;15, 2018; <I>provided</I>, <I>however</I>, that if the period from the redemption date to
January&nbsp;15, 2018, is less than one year, the weekly average yield on actually traded direct obligations of the Federal Republic of Germany adjusted to a constant maturity of one year will be used. Any such Bund Rate shall be obtained by the
Issuer.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Business Day&#148; means a day other than a Saturday, Sunday or other day on which banking institutions are
authorized or required by law to close in New York City, London or Amsterdam. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capital Stock&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) in the case of a corporation, corporate stock or shares; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) in the case of an association or business entity, any and all shares, interests, participations, rights or other
equivalents (however designated) of corporate stock; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) in the case of a partnership or limited liability company,
partnership or membership interests (whether general or limited); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other interest or participation that confers
on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Capitalized Lease Obligation&#148; means, at the time any determination thereof is to be made, the amount of the liability in respect of
a capital lease that would at such time be required to be capitalized and reflected as a liability on a balance sheet (excluding the footnotes thereto) in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cash Equivalents&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) All cash, including without limitation U.S. dollars, pounds sterling, euros, Swiss franc, the national currency of any
member state in the European Union or such other currencies held by the Issuer or any Restricted Subsidiary from time to time in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Securities and other readily marketable obligations issued or directly and fully guaranteed or insured by the U.S.
government or any country that is a member of the European Union or Switzerland, or any agency or instrumentality thereof in each case maturing not more than two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) certificates of deposit, time deposits and Eurodollar time deposits with maturities of one year or less from the date of
acquisition, bankers&#146; acceptances, in each case with maturities not exceeding one year and overnight bank deposits, in each case with any commercial bank having capital and surplus in excess of $250.0 million; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) repurchase obligations for underlying securities of the types described in clauses (2)&nbsp;and (3)&nbsp;above entered into
with any financial institution meeting the qualifications specified in clause (3)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) commercial paper issued
by a corporation (other than an Affiliate of the Issuer) rated at least &#147;A-2&#148; or the equivalent thereof by Moody&#146;s or S&amp;P (or reasonably equivalent ratings of another internationally recognized ratings agency) and in each case
maturing within one year after the date of acquisition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) readily marketable direct obligations issued by any state of
the United States of America or any political subdivision thereof having an Investment Grade Rating in each case with maturities not exceeding two years from the date of acquisition; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Indebtedness issued by Persons with a rating of &#147;A&#148; or higher from
S&amp;P or &#147;A-2&#148; or higher from Moody&#146;s in each case with maturities not exceeding two years from the date of acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) investment funds investing at least 95% of their assets in securities of the types described in clauses (1) through (7)
above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) investments with average maturities of 12 months or less from the date of acquisition in mutual funds rated AA-
(or the equivalent thereof) or better by S&amp;P or Aaa3 (or the equivalent thereof) or better by Moody&#146;s; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10)
marketable short-term money market and similar highly liquid funds either (i)&nbsp;having assets in excess of $250.0 million or (ii)&nbsp;having a rating of at least A-2 or P-2 from either S&amp;P or Moody&#146;s (or, if at any time neither S&amp;P
nor Moody&#146;s shall be rating such obligations, an equivalent rating from another nationally recognized rating service). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Change
of Control&#148; means the occurrence of any of the following events: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the sale, lease or transfer, in one or a series
of related transactions, of all or substantially all the assets of the Issuer and its Subsidiaries, taken as a whole, to a Person; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(2) the Issuer becomes aware (by way of a report or any other filing pursuant to Section&nbsp;13(d) of the Exchange Act,
proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section&nbsp;13(d)(3) or Section&nbsp;14(d)(2) of the Exchange Act, or any successor provision), including any group acting for the purpose of
acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act), in a single transaction or in a related series of transactions, by way of merger, consolidation or other business combination or purchase
of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the total voting power of the Voting Stock of the Issuer; <I>provided</I>, <I>however</I>, that any entity (including
Constellium N.V. upon a sale of all or substantially all of its assets to a Subsidiary in a transaction permitted under this Indenture, if at such time Constellium N.V. meets the requirements of this proviso) that conducts no material activities
other than holding Equity Interests of the Issuer or any direct or indirect parent of the Issuer and has no other material assets or liabilities other than such Equity Interests will not be considered a &#147;Person or group&#148; for purposes of
this clause (2).<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Code&#148; means the United States Internal Revenue Code of 1986, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Common Depositary&#148; means a depositary common to Euroclear and Clearstream, being initially Deutsche Bank AG, London branch, until a
successor Common Depositary, if any, shall have become such pursuant to this Indenture, and thereafter Common Depositary shall mean or include each Person who is then a Common Depositary hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Interest Expense&#148; means, with respect to any Person for any period, the
sum, without duplication, of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) consolidated interest expense of such Person and its Restricted Subsidiaries for such
period, to the extent such expense was deducted in computing Consolidated Net Income (including amortization of original issue discount, noncash interest payments, the interest component of Capitalized Lease Obligations, and net payments and
receipts (if any) pursuant to interest rate Hedging Obligations (but excluding unrealized mark-to-market gains and losses attributable to such Hedging Obligations, amortization of deferred financing fees and expensing of any bridge or other
financing fees), and excluding interest expense attributable to the Factoring Facilities or any Qualified Receivables Financing or other factoring arrangements (to the extent accounted for as interest expense under IFRS), amortization of deferred
financing fees, debt issuance costs, commissions, fees and expenses and expensing of any bridge commitment or other financing fees); plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) consolidated capitalized interest of such Person and its Restricted Subsidiaries for such period, whether paid or accrued;
plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Preferred Stock dividends paid in cash in respect of Disqualified Stock of the Issuer held by persons other than
the Issuer or a Restricted Subsidiary; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Commissions based on draws, discounts and yield (but excluding other fees
and charges, including commitment fees) Incurred in connection with any Receivables Financing which are payable to Persons other than the Issuer and its Restricted Subsidiaries; minus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) interest income for such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this definition, interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably
determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease Obligation in accordance with IFRS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of all
Consolidated Total Indebtedness, less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA of such Person for the four full
fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and paragraphs 2, 3, and 4 thereof shall
apply to the calculation of Consolidated Net Debt Ratio, and such calculation shall give pro forma effect to the application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be
held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;Consolidated Net
Income&#148; means, with respect to any Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis; <I>provided</I>, <I>however</I>, that:<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any net after-tax extraordinary, nonrecurring or unusual gains or losses or income, expenses or charges (less all fees and
expenses relating thereto), including, without limitation, any (i)&nbsp;severance, relocation or other restructuring expenses, any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
expenses related to any reconstruction, decommissioning, recommissioning or reconfiguration of fixed assets for alternate uses and fees, expenses or charges relating to new product lines, plant
shutdown costs, curtailments or modifications to pension and post-retirement employee benefits plans, excess pension charges, acquisition integration costs, facilities opening costs, project start-up costs, business optimization costs, signing,
retention or completion bonuses and (ii)&nbsp;any fees, expenses or charges related to any Equity Offering, Permitted Investment, acquisition, disposition, receivables financing, recapitalization or issuance, repayment, incurrence, refinancing,
amendment or modification of Indebtedness permitted to be Incurred by this Indenture (in each case, whether or not successful), in each case, shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any increase in amortization or depreciation or any non-cash charges, in each case resulting from purchase accounting in
connection with any acquisition that is consummated after the Issue Date shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the Net Income for such
period shall not include the cumulative effect of a change in accounting principles during such period; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any net
after-tax income or loss from disposed, abandoned, transferred, closed or discontinued operations and any net after-tax gains or losses on disposal of disposed, abandoned, transferred, closed or discontinued operations shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to business
dispositions or asset dispositions other than in the ordinary course of business (as determined in good faith by the Issuer) shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any net after-tax gains or losses (less all fees and expenses or charges relating thereto) attributable to the early
extinguishment of Indebtedness or Hedging Obligations or other derivative instruments shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) the Net
Income for such period of any Person that is not a Subsidiary of such Person, or is an Unrestricted Subsidiary, or that is accounted for by the equity method of accounting, shall be included only to the extent of the amount of dividends or
distributions or other payments paid in cash (or to the extent converted into cash) to the referent Person or a Restricted Subsidiary thereof in respect of such period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) solely for the purpose of determining the amount available for Restricted Payments under clause (1)&nbsp;of the definition
of Cumulative Credit, the Net Income for such period of any Restricted Subsidiary (other than any Guarantor) shall be excluded to the extent that the declaration or payment of dividends or similar distributions by such Restricted Subsidiary of its
Net Income is not at the date of determination permitted without any prior governmental approval (which has not been obtained) or, directly or indirectly, by the operation of the terms of its charter or any agreement, instrument, judgment, decree,
order, statute, rule or governmental regulation applicable to that Restricted Subsidiary or its stockholders, unless such restrictions with respect to the payment of dividends or similar distributions have been legally waived; provided that the
Consolidated Net Income of such Person shall be increased by the amount of dividends or other distributions or other payments actually paid in cash (or converted into cash) by any such Restricted Subsidiary to such Person, to the extent not already
included therein; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any non-cash impairment charges or asset write-offs resulting from the
application of IFRS and the amortization of intangibles arising pursuant to IFRS shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any non-cash
expense realized or resulting from stock option plans, employee benefit plans or post-employment benefit plans, grants and sales of stock, stock appreciation or similar rights, stock options or other rights of such Person or any of its Restricted
Subsidiaries shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) any (a)&nbsp;severance or relocation costs or expenses, (b)&nbsp;one-time non-cash
compensation charges, (c)&nbsp;the costs and expenses after May&nbsp;7, 2014 related to employment of terminated employees, (d)&nbsp;costs or expenses realized in connection with, resulting from or in anticipation of the May 2014 Transactions or
(e)&nbsp;costs or expenses realized in connection with or resulting from stock appreciation or similar rights, stock options or other rights existing on the Issue Date of officers, directors and employees, in each case of such Person or any of its
Restricted Subsidiaries, shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) accruals and reserves that are established or adjusted in accordance with
IFRS or changes as a result of the adoption or modification of accounting policies shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) (a)(i) the
non-cash portion of &#147;straight-line&#148; rent expense shall be excluded and (ii)&nbsp;the cash portion of &#147;straight-line&#148; rent expense which exceeds the amount expensed in respect of such rent expense shall be included and
(b)&nbsp;non-cash gains, losses, income and expenses resulting from fair value accounting shall be excluded; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14)
unrealized gains and losses relating to hedging transactions and mark-to-market of Indebtedness denominated in foreign currencies shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) solely for the purpose of calculating Restricted Payments, the difference, if positive, of the Consolidated Taxes of the
Issuer calculated in accordance with IFRS and the actual Consolidated Taxes paid in cash by the Issuer during any Reference Period shall be included; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) non-cash charges for deferred tax asset valuation allowances shall be excluded; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) an adjustment (which may be a negative number) shall be made to the extent that Net Income was calculated on an average
cost basis with respect to inventory, in order to reflect the additional Net Income (or the reduction to Net Income) which would have been recognized using an approximation of last in first out inventory accounting; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) any loss on sale of receivables and related assets in a Factoring Facility or other Qualified Receivables Financing shall
be excluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for the purpose of Section&nbsp;4.04 only, there shall be excluded from Consolidated Net
Income any dividends, repayments of loans or advances or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
other transfers of assets from Unrestricted Subsidiaries of the Issuer or a Restricted Subsidiary of the Issuer to the extent such dividends, repayments or transfers increase the amount of
Restricted Payments permitted under clauses (5)&nbsp;and (6)&nbsp;of the definition of &#147;Cumulative Credit.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated
Non-cash Charges&#148; means, with respect to any Person for any period, the aggregate depreciation, amortization, accretion and other non-cash expenses of such Person and its Restricted Subsidiaries reducing Consolidated Net Income of such Person
for such period on a consolidated basis and otherwise determined in accordance with IFRS, but excluding any such charge which consists of or requires an accrual of, or cash reserve for, anticipated cash charges for any future period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Secured Net Debt Ratio&#148; means, with respect to any Person at any date, the ratio of (i)&nbsp;the aggregate amount of
all Consolidated Total Indebtedness secured by a Lien (other than any Indebtedness under the Factoring Facilities or any Qualified Receivables Financing), less 100% of the unrestricted cash and Cash Equivalents that would be stated on the balance
sheet of such Person and its Restricted Subsidiaries as of such date, to (ii)&nbsp;EBITDA of such Person for the four full fiscal quarters for which internal financial statements are available immediately preceding such date. The second sentence of
the first paragraph of the definition of &#147;Fixed Charge Coverage Ratio&#148; and paragraphs 2, 3, and 4 thereof shall apply to the calculation of the Consolidated Secured Net Debt Ratio, and such calculation shall give pro forma effect to the
application of the proceeds of any Indebtedness that is incurred on the calculation date (with any proceeds that are initially to be held as cash or Cash Equivalents being deemed to have been applied as of the calculation date). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Taxes&#148; means provision for taxes based on income, profits or capital, including, without limitation, state, franchise
and similar taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Consolidated Total Indebtedness&#148; means, as of any date of determination, the aggregate principal amount of
consolidated funded Indebtedness for borrowed money (which, for the avoidance of doubt, shall not include any Indebtedness under the Factoring Facilities or any Qualified Receivables Financing) of the Issuer and its Restricted Subsidiaries
outstanding on such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Contingent Obligations&#148; means, with respect to any Person, any obligation of such Person
guaranteeing any leases, dividends or other obligations that do not constitute Indebtedness (&#147;primary obligations&#148;) of any other Person (the &#147;primary obligor&#148;) in any manner, whether directly or indirectly, including, without
limitation, any obligation of such Person, whether or not contingent: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) to purchase any such primary obligation or any
property constituting direct or indirect security therefor, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to advance or supply funds: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) for the purchase or payment of any such primary obligation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of
the primary obligor; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to purchase property, securities or services primarily for the purpose of assuring the owner
of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation against loss in respect thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Credit Facilities&#148; means (i)&nbsp;the Revolving Credit Facility, dated May&nbsp;7,
2014, among the Issuer, the guarantors named therein, the financial institutions named therein, and Deutsche Bank AG New York Branch as Administrative Agent, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and
whether with the original lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement or indenture extending the maturity thereof, refinancing, replacing or otherwise
restructuring all or any portion of the Indebtedness under such agreement or agreements or indenture or indentures or any successor or replacement agreement or agreements or indenture or indentures or increasing the amount loaned or issued
thereunder or altering the maturity thereof (the &#147;Revolving Credit Facility&#148;); (ii)&nbsp;Indebtedness Incurred and outstanding pursuant to clause (i)&nbsp;of Section&nbsp;4.03(b) (it being understood that Indebtedness that is Incurred
pursuant to such clause and subsequently reclassified as being Incurred pursuant to a different clause in accordance with this Indenture will not be deemed outstanding pursuant to such clause (a)); and (iii)&nbsp;whether or not the Credit Facilities
referred to in clauses (i)&nbsp;or (ii)&nbsp;remain outstanding, if designated by the Issuer to be included in the definition of &#147;Credit Facilities,&#148; one or more (A)&nbsp;debt facilities or commercial paper facilities, providing for
revolving credit loans, term loans, receivables financing (including through the sale of receivables to lenders or to special purpose entities formed to borrow from lenders against such receivables) or letters of credit, (B)&nbsp;debt securities,
indentures or other forms of debt financing (including convertible or exchangeable debt instruments or bank guarantees or bankers&#146; acceptances), or (C)&nbsp;instruments or agreements evidencing any other Indebtedness, in each case, with the
same or different borrowers or issuers and, in each case, as amended, supplemented, modified, extended, restructured, renewed, refinanced, restated, replaced or refunded in whole or in part from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Cumulative Credit&#148; means the sum of (without duplication): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) 50% of the Consolidated Net Income of the Issuer for the period (taken as one accounting period, the &#147;Reference
Period&#148;) from April&nbsp;1, 2014 to the end of the Issuer&#146;s most recently ended fiscal quarter for which internal financial statements are available at the time of such Restricted Payment (or, in the case such Consolidated Net Income for
such period is a deficit, minus 100% of such deficit), plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) 100% of the aggregate net proceeds, including cash and the
Fair Market Value (as determined in good faith by the Issuer) of property other than cash, received by the Issuer after the Issue Date (other than net proceeds to the extent such net proceeds have been used to Incur Indebtedness, Disqualified Stock
or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx) from the issue or sale of Equity Interests of the Issuer (excluding Refunding Capital Stock, Designated Preferred Stock, Excluded Contributions or Disqualified Stock, including Equity Interests
issued upon conversion of Indebtedness or Disqualified Stock or upon exercise of warrants or options (other than an issuance or sale to a Restricted Subsidiary of the Issuer or an employee stock ownership plan or trust established by the Issuer or
any of its Subsidiaries), plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) 100% of the aggregate amount of contributions to the capital of the Issuer
received in cash and the Fair Market Value (as determined in good faith by the Issuer) of property other than cash after the Issue Date (other than Excluded Contributions, Refunding Capital Stock, Designated Preferred Stock, contributions to the
extent such contributions have been used to Incur Indebtedness, Disqualified Stock or Preferred Stock pursuant to Section&nbsp;4.03(b)(xx), plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) 100% of the principal amount of any Indebtedness, or the liquidation preference or maximum fixed repurchase price, as the
case may be, of any Disqualified Stock of the Issuer or any Restricted Subsidiary thereof issued after the Issue Date (other than Indebtedness or Disqualified Stock issued to a Restricted Subsidiary) which has been converted into or exchanged for
Equity Interests in the Issuer (other than Disqualified Stock) or any direct or indirect parent of the Issuer (provided that, in the case of any parent, such Indebtedness or Disqualified Stock is retired or extinguished), plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) 100% of the aggregate amount received by the Issuer or any Restricted Subsidiary in cash and the Fair Market Value (as
determined in good faith by the Issuer) of property other than cash received by the Issuer or any Restricted Subsidiary from: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the sale or other disposition (other than to the Issuer or a Restricted Subsidiary of the Issuer) of Restricted Investments
made by the Issuer and its Restricted Subsidiaries and from repurchases and redemptions of such Restricted Investments from the Issuer and its Restricted Subsidiaries by any Person (other than the Issuer or any of its Restricted Subsidiaries) and
from repayments of loans or advances (including the release of any guarantee that constituted a Restricted Investment when made) that constituted Restricted Investments (other than in each case to the extent that the Restricted Investment was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the sale (other than to the Issuer or a Restricted
Subsidiary of the Issuer) of the Capital Stock of an Unrestricted Subsidiary, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a distribution or dividend from an
Unrestricted Subsidiary, plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the event any Unrestricted Subsidiary of the Issuer has been redesignated as a
Restricted Subsidiary or has been merged, consolidated or amalgamated with or into, or transfers or conveys its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary, the Fair Market Value (as determined in good faith by the
Issuer) of the Investment of the Issuer in such Unrestricted Subsidiary at the time of such redesignation, combination or transfer (or of the assets transferred or conveyed, as applicable), after taking into account any Indebtedness associated with
the Unrestricted Subsidiary so designated or combined or any Indebtedness associated with the assets so transferred or conveyed (other than in each case to the extent that the designation of such Subsidiary as an Unrestricted Subsidiary was made
pursuant to clause (vii)&nbsp;or (x)&nbsp;of Section&nbsp;4.04(b) or constituted a Permitted Investment). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Default&#148; means any
event which is, or after notice or passage of time or both would be, an Event of Default. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Non-cash Consideration&#148; means the Fair Market Value of non-cash
consideration received by the Issuer or one of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration pursuant to an Officer&#146;s Certificate, setting forth the basis of such
valuation, less the amount of Cash Equivalents received in connection with a subsequent sale of or collection on such Designated Non-cash Consideration. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Designated Preferred Stock&#148; means Preferred Stock of the Issuer or any direct or indirect parent of the Issuer (other than
Disqualified Stock), that is issued for cash (other than to the Issuer or any of its Subsidiaries or an employee stock ownership plan or trust established by the Issuer or any of its Subsidiaries) and is so designated as Designated Preferred Stock,
pursuant to an Officer&#146;s Certificate, on the issuance date thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Disqualified Stock&#148; means, with respect to any
Person, any Capital Stock of such Person which, by its terms (or by the terms of any security into which it is convertible or for which it is redeemable or exchangeable), or upon the happening of any event: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) is convertible or exchangeable for Indebtedness or Disqualified Stock of
such Person, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) is redeemable at the option of the holder thereof, in whole or in part (other than as a result of a
change of control or asset sale; provided that the relevant asset sale or change of control provisions, taken as a whole, are not materially more disadvantageous to the Holders of the Securities than is customary in comparable transactions (as
determined in good faith by the Issuer)), </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I></I>in each case prior to 91 days after (x)&nbsp;the maturity date of the Securities or (y)&nbsp;the date
the Securities are no longer outstanding; <I>provided</I>, <I>however</I>, that only the portion of Capital Stock which so matures or is mandatorily redeemable, is so convertible or exchangeable or is so redeemable at the option of the holder
thereof prior to such date shall be deemed to be Disqualified Stock; <I>provided</I>, <I>further</I>, <I>however</I>, that if such Capital Stock is issued to any employee or to any plan for the benefit of employees of the Issuer or its Subsidiaries
or by any such plan to such employees, such Capital Stock shall not constitute Disqualified Stock solely because it may be required to be repurchased by the Issuer in order to satisfy applicable statutory or regulatory obligations or as a result of
such employee&#146;s termination, death or disability; <I>provided</I>, <I>further</I>, that any class of Capital Stock of such Person that by its terms authorizes such Person to satisfy its obligations thereunder by delivery of Capital Stock that
is not Disqualified Stock shall not be deemed to be Disqualified Stock.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;EBITDA&#148; means, with respect to any Person for
any period, the Consolidated Net Income of such Person and its Restricted Subsidiaries for such period plus, without duplication, to the extent the same was deducted in calculating Consolidated Net Income: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated Taxes; plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Consolidated Interest Expense; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Consolidated Non-cash Charges; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(4) business optimization expenses and other restructuring charges or expenses (which, for the avoidance of doubt, shall
include, without limitation, the effect of inventory optimization programs, plant closures, facility consolidations, retention, severance, systems establishment costs, contract termination costs, future lease commitments and excess pension charges);
<I>provided</I> that the aggregate amount of business optimization expenses and other restructuring charges or expenses added pursuant to this clause (4)&nbsp;shall not exceed the greater of (i)&nbsp;&#128;20.0&nbsp;million and (ii)&nbsp;10% of
EBITDA for such period; <I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">less, without duplication, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) non-cash items increasing Consolidated Net Income for such period (excluding the recognition of deferred revenue or any
items which represent the reversal of any accrual of, or cash reserve for, anticipated cash charges in any prior period and any items for which cash was received in a prior period). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Interests&#148; means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt
security that is convertible into, or exchangeable for, Capital Stock). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Equity Offering&#148; means any public or private sale
after the Issue Date of common stock or Preferred Stock of the Issuer or any direct or indirect parent of the Issuer, as applicable (other than Disqualified Stock), other than: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) public offerings with respect to the Issuer&#146;s or such direct or indirect parent&#146;s common stock registered on
Form&nbsp;F-8 or F-4; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any such public or private sale that constitutes an Excluded Contribution. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Euros&#148; and &#147;&#128;&#148; each mean the single currency of the Member States of the European Union participating in the third
stage of the economic and monetary union pursuant to the Treaty on the Functioning of the European Union, as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;European Government Obligations&#148; means any security that is (i)&nbsp;a direct obligation of Ireland, Belgium, the Netherlands,
France, Germany or any country that is a member of the European Monetary Union on the date of the Euro Indenture, for the payment of which the full faith and credit of such country is pledged or (ii)&nbsp;an obligation of a person controlled or
supervised by and acting as an agency or instrumentality of any such country the payment of which is unconditionally guaranteed as a full faith and credit obligation by such country, which, in either case under the preceding clause (i)&nbsp;or (ii),
is not callable or redeemable at the option of the issuer thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Act&#148; means the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the SEC promulgated thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Exchange Rate&#148; means, as of any day, the rate at which the relevant currency
may be exchanged into Euros or U.S. Dollars, as applicable, at approximately 11:00 a.m., New York City time, on such date on the Bloomberg Key Cross Currency Rates Page (or any successor page) for the relevant currency. In the event that such rate
does not appear on any Bloomberg Key Cross Currency Rates Page (or any successor page), the Exchange Rate shall be determined by the Issuer in good faith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Excluded Contributions&#148; means the Cash Equivalents or other assets (valued at their Fair Market Value as determined in good faith
by the Issuer) received by the Issuer after the Issue Date from: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) contributions to its common equity capital, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the sale (other than to a Subsidiary of the Issuer or to any Subsidiary management equity plan or stock option plan or any
other management or employee benefit plan or agreement) of Capital Stock (other than Disqualified Stock and Designated Preferred Stock) of the Issuer, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in
each case designated as Excluded Contributions pursuant to an Officer&#146;s Certificate executed by an Officer of the Issuer on or promptly after the date such capital contributions are made or the date such Capital Stock is sold, as the case may
be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Factoring Facilities&#148; means the receivables purchase facilities granted to certain Subsidiaries of the Issuer pursuant to
(a)&nbsp;the agreement dated as of January&nbsp;4, 2011 between GE Factofrance S.A.S. as purchaser, Constellium France, Constellium Extrusions France and Constellium Aviatube as sellers, Constellium Holdco II B.V. and Constellium Switzerland AG,
(b)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Singen GmbH as seller, (c)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and
Constellium Extrusions Deutschland GmbH as seller and (d)&nbsp;the agreement dated as of December&nbsp;16, 2010 between GE Capital Bank AG as purchaser and Constellium Valais AG as seller, in each case, as such agreement may be amended, restated,
supplemented, waived, replaced (whether or not upon termination, and whether with the original parties or otherwise), restructured, or otherwise modified from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fair Market Value&#148; means, with respect to any asset or property, the price which could be negotiated in an arm&#146;s-length, free
market transaction, for cash, between a willing seller and a willing and able buyer, neither of whom is under undue pressure or compulsion to complete the transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed Charge Coverage Ratio&#148; means, with respect to any Person for any period, the ratio of EBITDA of such Person for such period
to the Fixed Charges of such Person for such period. In the event that the Issuer or any of its Restricted Subsidiaries Incurs, repays, repurchases, retires, extinguishes, defeases, discharges or redeems any Indebtedness (other than in the case of
revolving credit borrowings or revolving advances under any receivables financing, in which case interest expense shall be computed based upon the average daily </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
balance of such Indebtedness during the applicable period unless such Indebtedness has been permanently repaid and has not been replaced) or issues, repurchases or redeems Disqualified Stock or
Preferred Stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but on or prior to the event for which the calculation of the Fixed Charge Coverage Ratio is made (the &#147;Calculation
Date&#148;), then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect to such Incurrence, repayment, repurchase or redemption of Indebtedness, or such issuance, repurchase, retirement, extinguishment, defeasance, discharge or
redemption of Disqualified Stock or Preferred Stock, as if the same had occurred at the beginning of the applicable four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of making the computation referred to above, Investments, acquisitions, dispositions, mergers, amalgamations, consolidations and
discontinued operations (as determined in accordance with IFRS), in each case with respect to an operating unit of a business, and any operational changes that the Issuer or any of its Restricted Subsidiaries has determined to make and/or made
during the four-quarter reference period or subsequent to such reference period and on or prior to or simultaneously with the Calculation Date (each, for purposes of this definition, a &#147;pro forma event&#148;) shall be calculated on a pro forma
basis assuming that all such Investments, acquisitions, dispositions, mergers, amalgamations, consolidations, discontinued operations and operational changes (and the change of any associated fixed charge obligations and the change in EBITDA
resulting therefrom) had occurred on the first day of the four-quarter reference period. If since the beginning of such period any Person that subsequently became a Restricted Subsidiary or was merged with or into the Issuer or any Restricted
Subsidiary since the beginning of such period shall have made any Investment, acquisition, disposition, merger, amalgamation, consolidation, discontinued operation or operational change, in each case with respect to an operating unit of a business,
that would have required adjustment pursuant to this definition, then the Fixed Charge Coverage Ratio shall be calculated giving pro forma effect thereto for such period as if such Investment, acquisition, disposition, discontinued operation,
merger, amalgamation, consolidation or operational change had occurred at the beginning of the applicable four-quarter period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For
purposes of this definition, whenever pro forma effect is to be given to any pro forma event, the pro forma calculations shall be made in good faith by a responsible financial or accounting officer of the Issuer. Any such pro forma calculation may
include adjustments appropriate, in the reasonable good faith determination of the Issuer, to reflect (1)&nbsp;operating expense reductions and other operating improvements or synergies reasonably expected to result from the applicable pro forma
event, and (2)&nbsp;all adjustments of the nature used in connection with the calculation of &#147;Adjusted EBITDA&#148; as set forth in &#147;Summary Historical and Pro Forma Combined Financial Information&#151;Constellium&#148; and &#147;Summary
Historical Financial Information&#151;Wise and the Wise Acquired Group&#148; in the Offering Memorandum to the extent such adjustments, without duplication, continue to be applicable to such four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Indebtedness bears a floating rate of interest and is being given pro forma effect, the interest on such Indebtedness shall be
calculated as if the rate in effect on the Calculation Date had been the applicable rate for the entire period (taking into account any Hedging Obligations applicable to such Indebtedness if such Hedging Obligation has a remaining term in excess of
12 months). Interest on a Capitalized Lease Obligation shall be deemed to accrue at an interest rate reasonably determined by a responsible financial or accounting officer of the Issuer to be the rate of interest implicit in such Capitalized Lease
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Obligation in accordance with IFRS. For purposes of making the computation referred to above, interest on any Indebtedness under a revolving credit facility computed on a pro forma basis shall be
computed based upon the average daily balance of such Indebtedness during the applicable period. Interest on Indebtedness that may optionally be determined at an interest rate based upon a factor of a prime or similar rate, a eurocurrency interbank
offered rate, or other rate, shall be deemed to have been based upon the rate actually chosen, or, if none, then based upon such optional rate chosen as the Issuer may designate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Fixed Charges&#148; means, with respect to any Person for any period, the sum, without duplication, of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) Consolidated Interest Expense of such Person for such period, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all cash dividend payments (excluding items eliminated in consolidation) on any series of Preferred Stock or Disqualified
Stock of such Person and its Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Foreign Subsidiary&#148; means a Restricted Subsidiary not organized or
existing under the laws of the United States of America or any state or territory thereof or the District of Columbia. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;GAAP&#148;
means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the
Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting profession. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Guarantee&#148; means any guarantee of the obligations of the Issuer under this Indenture and the Securities by any Person in accordance
with the provisions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;guarantee&#148; means a guarantee (other than by endorsement of negotiable instruments for
collection in the ordinary course of business), direct or indirect, in any manner (including, without limitation, letters of credit and reimbursement agreements in respect thereof), of all or any part of any Indebtedness or other obligations. The
amount of any guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such guarantee is made or, if not stated or determinable, the maximum
reasonably anticipated liability in respect thereof as determined in good faith by the Issuer. The term &#147;guarantee&#148; as a verb has a corresponding meaning. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;Guarantor&#148; means any Person that Incurs a Guarantee; <I>provided</I> that upon the release or discharge of such Person from
its Guarantee in accordance with this Indenture, such Person ceases to be a Guarantor under this Indenture.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Hedging
Obligations&#148; means, with respect to any Person, the obligations of such Person under: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) currency exchange, interest
rate or commodity Swap Agreements, currency exchange, interest rate or commodity cap agreements and currency exchange, interest rate or commodity collar agreements; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) other agreements or arrangements designed to protect such Person against fluctuations in currency exchange, interest rates
or commodity prices. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Holder&#148; means the Person in whose name a Security is registered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;Incur&#148; means issue, assume, guarantee, incur or otherwise become liable for; <I>provided</I>, <I>however</I>, that any
Indebtedness or Capital Stock of a Person existing at the time such Person becomes a Subsidiary (whether by merger, amalgamation, consolidation, acquisition or otherwise) shall be deemed to be Incurred by such Person at the time it becomes a
Subsidiary.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;IFRS&#148; means International Financial Reporting Standards promulgated from time to time by the
International Accounting Standards Board (or any successor board or agency, together the &#147;IASB&#148;) and as adopted by the European Union and statements and pronouncements of the IASB or in such other statements by such other entity as have
been approved by a significant segment of the accounting profession, which are in effect from time to time (other than with respect to Capitalized Lease Obligations), it being understood that, for purposes of this Indenture, all references to
codified accounting standards specifically named in this Indenture shall be deemed to include any successor, replacement, amended or updated accounting standard under IFRS; <I>provided</I> that, at any time after adoption of GAAP by the Issuer (or
the relevant reporting entity) for its financial statements and reports for all financial reporting purposes, the Issuer (or the relevant reporting entity) may irrevocably elect to apply GAAP for all purposes of this Indenture, and, upon any such
election, references in this Indenture to IFRS shall be construed to mean GAAP as in effect on the date of such election and thereafter from time to time; provided that (1)&nbsp;all financial statements and reports required to be provided after such
election pursuant to this Indenture shall be prepared on the basis of GAAP, (2)&nbsp;from and after such election, all ratios, computations, calculations and other determinations based on IFRS contained in this Indenture shall be computed in
conformity with GAAP (other than with respect to Capitalized Lease Obligations) with retroactive effect being given thereto assuming that such election had been made on the Issue Date, (3)&nbsp;such election shall not have the effect of rendering
invalid any payment or Investment made prior to the date of such election pursuant to Section&nbsp;4.04 or any Incurrence of Indebtedness or Liens Incurred prior to the date of such election pursuant to Section&nbsp;4.03 (or any other action
conditioned on the Issuer and the Restricted Subsidiaries having been able to Incur $1.00 of additional Indebtedness) or Section&nbsp;4.12 if such payment, Investment, Incurrence or other action was valid under this Indenture on the date made,
Incurred or taken, as the case may be and (4)&nbsp;all accounting terms and references in this Indenture to accounting standards shall be deemed to be references to the most comparable terms or standards under GAAP. The Issuer shall give written
notice of any election to the Trustee and the Holders of the Securities within 15 days of such election. For the avoidance of doubt, (i)&nbsp;solely making an election (without any other action) referred to in this definition will not be treated as
an Incurrence of Indebtedness or Liens, and (ii)&nbsp;nothing herein shall prevent the Issuer, any Restricted Subsidiary or reporting entity from adopting or changing its functional or reporting currency in accordance with IFRS, or GAAP, as
applicable; provided that such adoption or change shall not have the effect of rendering invalid any payment or Investment made prior to the date of such election pursuant to the covenant described under Section&nbsp;4.04 or any Incurrence of
Indebtedness or Liens Incurred prior to the date of such adoption or change pursuant to Section&nbsp;4.03 or Section&nbsp;4.12 (or any other action conditioned on the Issuer and the Restricted Subsidiaries having been able to Incur $1.00 of
additional Indebtedness) if such payment, Investment, Incurrence or other action was valid under this Indenture on the date made, Incurred or taken, as the case may be.<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indebtedness&#148; means, with respect to any Person (without duplication): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the principal and premium (if any) of any indebtedness of such Person, whether or not contingent, (a)&nbsp;in respect of
borrowed money, (b)&nbsp;evidenced by bonds, notes, debentures or similar instruments (except any such obligation issued in the ordinary course of business with a maturity date of no more than six months in a transaction intended to extend payment
terms of trade payables or similar obligations to trade creditors incurred in the ordinary course of business) or letters of credit or bankers&#146; acceptances (or, without duplication, reimbursement agreements in respect thereof),
(c)&nbsp;representing the deferred and unpaid purchase price of any property (except (i)&nbsp;any such balance that constitutes a trade payable or similar obligation to a trade creditor, in each case Incurred in the ordinary course of business,
(ii)&nbsp;any earn-out obligations until such obligation becomes a liability on the balance sheet of such Person in accordance with IFRS and (iii)&nbsp;liabilities Incurred in the ordinary course of business), (d)&nbsp;in respect of Capitalized
Lease Obligations, or (e)&nbsp;representing any Hedging Obligations, if and to the extent that any of the foregoing indebtedness would appear as a liability on a balance sheet (excluding the footnotes thereto) of such Person prepared in accordance
with IFRS; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) to the extent not otherwise included, any obligation of such Person to be liable for, or to pay, as
obligor, guarantor or otherwise, the Indebtedness of another Person (other than by endorsement of negotiable instruments for collection in the ordinary course of business); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(3) to the extent not otherwise included, Indebtedness of another Person secured by a Lien on any asset owned by such
Person (whether or not such Indebtedness is assumed by such Person); <I>provided</I>, <I>however</I>, that the amount of such Indebtedness will be the lesser of: (a)&nbsp;the Fair Market Value of such asset at such date of determination, and
(b)&nbsp;the amount of such Indebtedness of such other Person;<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>, <I>however</I>, that notwithstanding the foregoing, Indebtedness
shall be deemed not to include (1)&nbsp;Contingent Obligations incurred in the ordinary course of business and not in respect of borrowed money; (2)&nbsp;deferred or prepaid revenues; (3)&nbsp;purchase price holdbacks in respect of a portion of the
purchase price of an asset to satisfy warranty or other unperformed obligations of the respective seller; or (4)&nbsp;obligations under or in respect of Factoring Facilities or Qualified Receivables Financings.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything in this Indenture to the contrary, Indebtedness shall not include, and shall be calculated without giving effect to,
the effects of International Accounting Standards No.&nbsp;39 and related interpretations to the extent such effects would otherwise increase or decrease an amount of Indebtedness for any purpose under this Indenture as a result of accounting for
any embedded derivatives created by the terms of such Indebtedness; and any such amounts that would have constituted Indebtedness under this Indenture but for the application of this sentence shall not be deemed an Incurrence of Indebtedness under
this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Indenture&#148; means this Indenture as amended or supplemented from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Independent Financial Advisor&#148; means an accounting, appraisal or investment banking
firm or consultant, in each case of nationally recognized standing, that is, in the good faith determination of the Issuer, qualified to perform the task for which it has been engaged. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Rating&#148; means a rating equal to or higher than Baa3 (or the equivalent) by Moody&#146;s and BBB- (or the
equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investment Grade Securities&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) securities issued or directly and fully guaranteed or insured by the U.S. government or any agency or instrumentality
thereof (other than Cash Equivalents), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) securities that have a rating equal to or higher than Baa3 (or equivalent) by
Moody&#146;s or BBB- (or equivalent) by S&amp;P, or an equivalent rating by any other Rating Agency, but excluding any debt securities or loans or advances between and among the Issuer and its Subsidiaries, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) investments in any fund that invests exclusively in investments of the type described in clauses (1)&nbsp;and
(2)&nbsp;which fund may also hold immaterial amounts of cash pending investment and/or distribution, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) corresponding
instruments in countries other than the United States customarily utilized for high quality investments and in each case with maturities not exceeding two years from the date of acquisition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Investments&#148; means, with respect to any Person, all investments by such Person in other Persons (including Affiliates) in the form
of loans (including guarantees), advances or capital contributions (excluding accounts receivable, trade credit and advances to customers and commission, travel and similar advances to officers, employees and consultants made in the ordinary course
of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities issued by any other Person and investments that are required by IFRS to be classified on the balance sheet of the Issuer in the
same manner as the other investments included in this definition to the extent such transactions involve the transfer of cash or other property. For purposes of the definition of &#147;Unrestricted Subsidiary&#148; and Section&nbsp;4.04: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(1) &#147;Investments&#148; shall include the portion (proportionate to the Issuer&#146;s equity interest in such
Subsidiary) of the Fair Market Value of the net assets of a Subsidiary of the Issuer at the time that such Subsidiary is designated an Unrestricted Subsidiary; <I>provided</I>, <I>however</I>, that upon a redesignation of such Subsidiary as a
Restricted Subsidiary, the Issuer shall be deemed to continue to have a permanent Investment in an Unrestricted Subsidiary equal to an amount (if positive) equal to:<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Issuer&#146;s Investment in such Subsidiary at the time of such redesignation less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the portion (proportionate to the Issuer&#146;s equity interest in such Subsidiary) of the Fair Market Value of the net
assets of such Subsidiary at the time of such redesignation; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any property transferred to or from an Unrestricted
Subsidiary shall be valued at its Fair Market Value at the time of such transfer, in each case as determined in good faith by the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities are originally issued. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issuer&#148; means the party named as such in the Preamble to this Indenture until a successor replaces it and, thereafter, means the
successor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Lien&#148; means, with respect to any asset, any mortgage, lien, pledge, charge, security interest or encumbrance of any
kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other agreement to give a
security interest in and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction); provided that in no event shall an operating lease or an option or an agreement to
sell be deemed to constitute a Lien. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;May 2014 Transactions&#148; means the issuance of the Issuer&#146;s 5.750% Senior Notes due
2024 and 4.625% Senior Notes due 2021 on May&nbsp;7, 2014 and the repayment of certain credit facilities of the Issuer with the proceeds thereof, and the payment of fees and expenses and premium in connection therewith. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Moody&#146;s&#148; means Moody&#146;s Investors Service, Inc. or any successor to the rating agency business thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Income&#148; means, with respect to any Person, the net income (loss) of such Person, determined in accordance with IFRS and before
any reduction in respect of Preferred Stock dividends. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Net Proceeds&#148; means the aggregate cash proceeds received by the Issuer
or any of its Restricted Subsidiaries in respect of any Asset Sale (including, without limitation, any cash received in respect of or upon the sale or other disposition of any Designated Non-cash Consideration received in any Asset Sale and any cash
payments received by way of deferred payment of principal pursuant to a note or installment receivable or otherwise, but only as and when received, but excluding the assumption by the acquiring Person of Indebtedness relating to the disposed assets
or other consideration received in any other non-cash form), net of the direct costs relating to such Asset Sale and the sale or disposition of such Designated Non-cash Consideration (including, without limitation, legal, accounting and investment
banking fees, and brokerage and sales commissions), and any relocation expenses Incurred as a result thereof, taxes paid or payable as a result thereof (after taking into account any available tax credits or deductions and any tax sharing
arrangements related thereto), amounts required to be applied to the repayment of principal, premium (if any) and interest on Indebtedness required (other than pursuant to Section&nbsp;4.06(b)) to be paid as a result of such transaction, and any
deduction of appropriate amounts to be provided by the Issuer as a reserve in accordance with IFRS against any liabilities associated with the asset disposed of in such transaction and retained by the Issuer after such sale or other disposition
thereof, including, without limitation, pension and other post-employment benefit liabilities and liabilities related to environmental matters or against any indemnification obligations associated with such transaction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Obligations&#148; means any principal, interest, penalties, fees, indemnifications,
reimbursements (including, without limitation, reimbursement obligations with respect to letters of credit and bankers&#146; acceptances), damages and other liabilities payable under the documentation governing any Indebtedness; provided that
Obligations with respect to the Securities shall not include fees or indemnifications in favor of the Trustee and other third parties other than the Holders of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Offering Memorandum&#148; means the offering memorandum relating to the offering of the Original Securities dated December&nbsp;5, 2014.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#148; means the chairman of the board, chief executive officer, chief financial officer, president, any executive vice
president, senior vice president or vice president, the treasurer or the secretary of the Issuer or its Subsidiary, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Officer&#146;s Certificate&#148; means a certificate signed on behalf of the Issuer or its Subsidiary (as applicable) by an Officer of
the Issuer or its Subsidiary (as applicable), who must be the principal executive officer, the principal financial officer, the treasurer, the secretary or the principal accounting officer of the Issuer or its Subsidiary, as applicable, that meets
the requirements set forth in this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Opinion of Counsel&#148; means a written opinion from legal counsel who is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuer or any Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Pari Passu
Indebtedness&#148; means: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) with respect to the Issuer, any Indebtedness which ranks pari passu in right of payment to
the Securities; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with respect to any Guarantor, any Indebtedness which ranks pari passu in right of payment to such
Guarantor&#146;s Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Investments&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Investment in the Issuer or any Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Investment in Cash Equivalents or Investment Grade Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any Investment by the Issuer or any Restricted Subsidiary of the Issuer in a Person if as a result of such Investment
(a)&nbsp;such Person becomes a Restricted Subsidiary of the Issuer, or (b)&nbsp;such Person, in one transaction or a series of related transactions, is merged, consolidated or amalgamated with or into, or transfers or conveys all or substantially
all of its assets to, or is liquidated into, the Issuer or a Restricted Subsidiary of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any Investment in
securities or other assets not constituting Cash Equivalents and received in connection with an Asset Sale made pursuant to the provisions of Section&nbsp;4.06 or any other disposition of assets not constituting an Asset Sale; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(5) any Investment existing on, or made pursuant to binding commitments
existing on, the Issue Date or an Investment consisting of any extension, modification or renewal of any Investment existing on the Issue Date; <I>provided</I> that the amount of any such Investment may only be increased as required by the terms of
such Investment as in existence on the Issue Date;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) advances to directors, officers or employees, taken together
with all other advances made pursuant to this clause (6), not to exceed &#128;15.0&nbsp;million at any one time outstanding; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any Investment acquired by the Issuer or any of its Restricted Subsidiaries (a)&nbsp;in exchange for any other Investment
or accounts receivable held by the Issuer or any such Restricted Subsidiary in connection with or as a result of a bankruptcy, workout, reorganization or recapitalization of the issuer of such other Investment or accounts receivable, (b)&nbsp;as a
result of a foreclosure by the Issuer or any of its Restricted Subsidiaries with respect to any secured Investment or other transfer of title with respect to any secured Investment in default, or (c)&nbsp;as a result of the settlement, compromise or
resolution of litigation, arbitration or other disputes with Persons who are not Affiliates; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) Hedging Obligations
permitted under Section&nbsp;4.03(b)(xi); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(9) additional Investments by the Issuer or any of its Restricted
Subsidiaries having an aggregate Fair Market Value, taken together with all other Investments made pursuant to this clause (9)&nbsp;that are at that time outstanding, not to exceed the greater of (x)&nbsp;&#128;100.0&nbsp;million and (y)&nbsp;5.5%
of Total Assets at the time of such Investment (with the Fair Market Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); <I>provided</I>, <I>however</I>, that if any Investment made
pursuant to this clause (9)&nbsp;is made in any Person that is not a Restricted Subsidiary of the Issuer at the date of the making of such Investment and such Person becomes a Restricted Subsidiary of the Issuer after such date, such Investment
shall thereafter be deemed to have been made pursuant to clause (1)&nbsp;above and shall cease to have been made pursuant to this clause (9)&nbsp;for so long as such Person continues to be a Restricted Subsidiary;<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) loans and advances to officers, directors and employees for business-related travel expenses, moving expenses and other
similar expenses, in each case Incurred in the ordinary course of business or to fund such Person&#146;s purchase of Equity Interests of the Issuer or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(11) Investments the payment for which consists of Equity Interests of the Issuer (other than Disqualified Stock) or any
direct or indirect parent of the Issuer, as applicable; <I>provided</I>, <I>however</I>, that the issue of such Equity Interests will not increase the amount available for Restricted Payments under clause (2)&nbsp;of the definition of
&#147;Cumulative Credit&#148;;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any transaction to the extent it constitutes an Investment that is permitted by
and made in accordance with the provisions of Section&nbsp;4.07(b) (except transactions described in clauses (ii), (vi), and (viii)(B) of such Section); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) Investments consisting of the licensing or contribution of intellectual
property pursuant to joint marketing arrangements with other Persons; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) guarantees issued in accordance with Sections
4.03 and 4.11; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Investments consisting of or to finance purchases and acquisitions of inventory, supplies, materials,
services or equipment or purchases of contract rights or licenses or leases of intellectual property, in each case in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(16) (i) any Investment in a Receivables Subsidiary or any Investment by a Receivables Subsidiary in any other Person in
connection with a Qualified Receivables Financing, including Investments of funds held in accounts permitted or required by the arrangements governing such Qualified Receivables Financing or any related Indebtedness; <I>provided</I>, <I>however</I>,
that any Investment in a Receivables Subsidiary is in the form of a Purchase Money Note, contribution of additional receivables or an equity interest and (ii)&nbsp;any other Investment in connection with a Qualified Receivables Financing or
Factoring Facility;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) any Investment in an entity or purchase of a business or assets in each case owned (or
previously owned) by a customer of a Restricted Subsidiary as a condition or in connection with such customer (or any member of such customer&#146;s group) contracting with a Restricted Subsidiary, in each case in the ordinary course of business;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Investments of a Restricted Subsidiary of the Issuer acquired after the Issue Date or of an entity merged into,
amalgamated with, or consolidated with the Issuer or a Restricted Subsidiary of the Issuer in a transaction that is not prohibited by Section&nbsp;5.01 after the Issue Date to the extent that such Investments were not made in contemplation of such
acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) any Investment in any Subsidiary (including any Unrestricted Subsidiary) or joint venture in connection with intercompany
cash management arrangements or related activities arising in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(20) Investments in Quiver
Ventures, LLC in an amount not to exceed &#128;80.0&nbsp;million at any time outstanding; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) guarantees by the
Issuer or any Restricted Subsidiary of operating leases or of other obligations that do not constitute Indebtedness, in each case, entered into in the ordinary course of business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Permitted Liens&#148; means, with respect to any Person: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) pledges or deposits by such Person under workmen&#146;s compensation laws, unemployment insurance laws or similar
legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits
of cash or U.S. government bonds to secure surety or appeal bonds to which such Person is a party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business;
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Liens imposed by law, such as carriers&#146;, warehousemen&#146;s and
mechanics&#146; Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding
with an appeal or other proceedings for review; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Liens for taxes, assessments or other governmental charges not yet due
which are being contested in good faith by appropriate proceedings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Liens in favor of issuers of performance and
surety bonds or bid bonds or with respect to other regulatory requirements or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary course of its business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for, licenses,
rights-of-way, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other restrictions as to the use of real properties or Liens incidental to the conduct of the business of such Person or to the ownership
of its properties which were not Incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair their use in the operation of the business of such Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(6) Liens securing Indebtedness permitted to be Incurred pursuant to clause (v)&nbsp;of Section&nbsp;4.03(b)
(<I>provided</I> that such Lien extends only to the property and/or Capital Stock, the purchase, lease, construction or improvement of which is financed thereby and any income or profits therefrom);<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) Liens existing on the Issue Date (other than liens that secure the Credit Facilities existing on the Issue Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(8) Liens on assets, property or shares of stock of a Person in existence at the time such Person becomes a Subsidiary;
<I>provided</I>, <I>however</I>, that such Liens are not created or Incurred in connection with, or in contemplation of, such other Person becoming such a Subsidiary; <I>provided, further</I>,<I> however</I>, that such Liens may not extend to any
other property owned by the Issuer or any Restricted Subsidiary of the Issuer;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(9) Liens on assets or
property at the time the Issuer or a Restricted Subsidiary of the Issuer acquired the assets or property, including any acquisition by means of a merger, amalgamation or consolidation with or into the Issuer or any Restricted Subsidiary of the
Issuer; <I>provided</I>,<I> however</I>, that such Liens are not created or Incurred in connection with, or in contemplation of, such acquisition; <I>provided further</I>, <I>however</I>, that the Liens may not extend to any other property owned by
the Issuer or any Restricted Subsidiary of the Issuer;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) Liens on assets of a Restricted Subsidiary that is not
a Guarantor securing Indebtedness of such Restricted Subsidiary permitted to be Incurred pursuant to Section&nbsp;4.03, other than Indebtedness owed to another Restricted Subsidiary that is not a Guarantor; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) Liens securing Hedging Obligations not incurred in violation of this
Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) Liens on specific items of inventory or other goods and proceeds of any Person securing such Person&#146;s
obligations in respect of bankers&#146; acceptances issued or created for the account of such Person to facilitate the purchase, shipment or storage of such inventory or other goods; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) leases and subleases of real property which do not materially interfere with the ordinary conduct of the business of the
Issuer or any of its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) Liens arising from Uniform Commercial Code financing statement filings
regarding operating leases entered into by the Issuer and its Restricted Subsidiaries in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(15) Liens in favor of the Issuer or any Guarantor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(16) Liens on accounts receivable and related assets of the type specified in the definition of &#147;Receivables
Financing&#148; Incurred in connection with a Qualified Receivables Financing and Factoring Facilities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(17) deposits made
in the ordinary course of business to secure liability to insurance carriers; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(18) Liens on the Equity Interests of
Unrestricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(19) grants of software and other technology licenses in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(20) Liens to secure any refinancing, refunding, extension, renewal or replacement (or successive refinancings,
refundings, extensions, renewals or replacements) as a whole, or in part, of any Indebtedness secured by any Lien referred to in the foregoing clauses (6), (7), (8)&nbsp;and (9); <I>provided</I>,<I> however</I>, that (x)&nbsp;such new Lien shall be
limited to all or part of the same property that secured the original Lien (plus improvements on such property), and (y)&nbsp;the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (A)&nbsp;the
outstanding principal amount or, if greater, committed amount of the Indebtedness described under clauses (6), (7), (8)&nbsp;and (9)&nbsp;at the time the original Lien became a Permitted Lien under this Indenture, and (B)&nbsp;an amount necessary to
pay any fees and expenses, including premiums, related to such refinancing, refunding, extension, renewal or replacement;<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(21) Liens on equipment of the Issuer or any Restricted Subsidiary granted in the ordinary course of business to the
Issuer&#146;s or such Restricted Subsidiary&#146;s client at which such equipment is located; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(22) judgment and attachment Liens not giving rise to an Event of Default and
notices of lis pendens and associated rights related to litigation being contested in good faith by appropriate proceedings and for which adequate reserves have been made; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(23) Liens arising out of conditional sale, title retention, consignment or similar arrangements for the sale of goods entered
into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(24) Liens incurred to secure cash management services or to implement cash
pooling arrangements in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(25) Liens arising by virtue of any statutory or common law
provisions or under the Dutch General Banking Conditions relating to banker&#146;s liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a depository or financial institution; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(26) any interest or title of a lessor under any Capitalized Lease Obligations; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(27) any encumbrance or restriction (including put and call arrangements) with respect to Capital Stock of any joint venture or
similar arrangement pursuant to any joint venture or similar agreement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(28) Liens in favor of customs and revenue
authorities arising as a matter of law to secure payment of customs duties in connection with the importation of goods; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(29) Liens solely on any cash earnest money deposits made by the Issuer or any of its Restricted Subsidiaries in connection
with any letter of intent or purchase agreement in respect of any Investment permitted hereunder; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(30) Liens on securities
that are the subject of repurchase agreements constituting Cash Equivalents; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(31) Liens on equity interests of a joint
venture securing Indebtedness of such joint venture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(32) Liens securing Indebtedness and other Obligations under Credit
Facilities Incurred pursuant to clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;4.03(b) (other than Indebtedness Incurred pursuant to clause (ii)&nbsp;of such paragraph if such Indebtedness is required to be unsecured pursuant to the proviso to
sub-clause (B)&nbsp;thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(33) Liens securing obligations which obligations do not exceed, at the time of incurrence
thereof, the greater of (i)&nbsp;&#128;75.0&nbsp;million and (ii)&nbsp;4.5% of Total Assets; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(34) Liens securing
obligations in respect of letters of credit or bank guarantees issued in the ordinary course of business, which letters of credit or bank guarantees do not secure debt for borrowed money. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Person&#148; means any individual, corporation, partnership, limited liability company, joint venture, association, joint-stock company,
trust, unincorporated organization, government or any agency or political subdivision thereof or any other entity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Preferred Stock&#148; means any Equity Interest with preferential right of payment of
dividends or upon liquidation, dissolution, or winding up. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Purchase Money Note&#148; means a promissory note of a Receivables
Subsidiary evidencing a line of credit, which may be irrevocable, from the Issuer or any Subsidiary of the Issuer to a Receivables Subsidiary in connection with a Qualified Receivables Financing, which note is intended to finance that portion of the
purchase price that is not paid by cash or a contribution of equity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Qualified Receivables Financing&#148; means (1)&nbsp;the
Receivables Financing pursuant to the Factoring Facilities (including any increase in the amount thereof); and (2)&nbsp;any Receivables Financing that meets the following conditions: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the Issuer shall have determined in good faith that such Receivables Financing (including financing terms, covenants,
termination events and other provisions) is in the aggregate economically fair and reasonable to the Issuer or, as the case may be, the Subsidiary in question; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) all sales of accounts receivable and related assets are made at Fair Market Value; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) the financing terms, covenants, termination events and other provisions thereof shall be market terms (as determined in
good faith by the Issuer) and may include Standard Undertakings and provided that in the case of Receivables Financings under clause (2), such Receivables Financings shall have no greater recourse in any material respect to the Issuer and its
Restricted Subsidiaries than the recourse to the Issuer and its Restricted Subsidiaries in the Factoring Facilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Rating
Agency&#148; means (1)&nbsp;each of Moody&#146;s and S&amp;P and (2)&nbsp;if Moody&#146;s or S&amp;P ceases to rate the Securities for reasons outside of the Issuer&#146;s control, a &#147;nationally recognized statistical rating organization&#148;
within the meaning of Section&nbsp;3(a)(62) under the Exchange Act selected by the Issuer or any direct or indirect parent of the Issuer as a replacement agency for Moody&#146;s or S&amp;P, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Fees&#148; means distributions or payments made directly or by means of discounts with respect to any participation
interests issued or sold in connection with, and all other fees paid to a Person that is not a Restricted Subsidiary in connection with, any Receivables Financing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Financing&#148; means any transaction or series of transactions that may be entered into by any of the Issuer&#146;s
Subsidiaries pursuant to which such Subsidiary may sell, convey or otherwise transfer to any other Person, or may grant a security interest in, any accounts receivable (whether now existing or arising in the future) of such Subsidiary, and any
assets related thereto including, without limitation, all collateral securing such accounts receivable, all contracts and all guarantees or other obligations in respect of such accounts receivable, proceeds of such accounts receivable and other
assets, in each case, which are customarily transferred in or in respect of which security interests are customarily granted in connection with asset securitization transactions or factoring transactions involving accounts receivable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Repurchase Obligation&#148; means any obligation of a seller of receivables in
a Qualified Receivables Financing to repurchase receivables arising as a result of a breach of a representation, warranty or covenant or otherwise, including as a result of a receivable or portion thereof becoming subject to any asserted defense,
dispute, off-set or counterclaim of any kind as a result of any action taken by, any failure to take any action by or any other event relating to the seller. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Receivables Subsidiary&#148; means a Wholly Owned Restricted Subsidiary of the Issuer (or another Person formed for the purposes of
engaging in Qualified Receivables Financing with the Issuer in which the Issuer or any Subsidiary of the Issuer makes an Investment and to which the Issuer or any Subsidiary of the Issuer transfers accounts receivable and related assets) which
engages in no activities other than in connection with the financing of accounts receivable of the Issuer and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any
business or activities incidental or related to such business, and which is designated by the Issuer as a Receivables Subsidiary and: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i)&nbsp;is guaranteed by the
Issuer or any other Subsidiary of the Issuer (excluding guarantees of obligations (other than the principal of and interest on, Indebtedness) pursuant to Standard Undertakings), (ii)&nbsp;is recourse to or obligates the Issuer or any other
Subsidiary of the Issuer in any way other than pursuant to Standard Undertakings, or (iii)&nbsp;subjects any property or asset of the Issuer or any other Subsidiary of the Issuer, directly or indirectly, contingently or otherwise, to the
satisfaction thereof, other than pursuant to Standard Undertakings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) with which neither the Issuer nor any other
Subsidiary of the Issuer has any material contract, agreement, arrangement or understanding other than on terms which the Issuer reasonably believes to be no less favorable to the Issuer or such Subsidiary than those that might be obtained at the
time from Persons that are not Affiliates of the Issuer; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to which neither the Issuer nor any other Subsidiary of
the Issuer has any obligation to maintain or preserve such entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;Representative&#148; means the trustee, agent or representative (if any) for an issue of Indebtedness; <I>provided</I> that if,
and for so long as, such Indebtedness lacks such a Representative, then the Representative for such Indebtedness shall at all times constitute the holder or holders of a majority in outstanding principal amount of obligations under such
Indebtedness.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Responsible Officer of the Trustee&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president,
assistant secretary, assistant treasurer, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate
trust matter is referred because of such Person&#146;s knowledge of and familiarity with the particular subject; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2)
who shall have direct responsibility for the administration of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Investment&#148; means an Investment other than a Permitted Investment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Subsidiary&#148; means, with respect to any Person, any Subsidiary of such Person other than an Unrestricted Subsidiary of
such Person. Unless otherwise indicated in this Indenture, all references to Restricted Subsidiaries shall mean Restricted Subsidiaries of the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Revolving Credit Facility&#148; has the meaning ascribed thereto in clause (i)&nbsp;of the definition of &#147;Credit Facilities.&#148;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Sale/Leaseback Transaction&#148; means an arrangement relating to property now owned or hereafter acquired by the Issuer or a
Restricted Subsidiary whereby the Issuer or a Restricted Subsidiary transfers such property to a Person and the Issuer or such Restricted Subsidiary leases it from such Person, other than leases between the Issuer and a Restricted Subsidiary of the
Issuer or between Restricted Subsidiaries of the Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;S&amp;P&#148; means Standard&nbsp;&amp; Poor&#146;s Ratings Group or any
successor to the rating agency business thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;SEC&#148; means the Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Secured Indebtedness&#148; means any Indebtedness secured by a Lien. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities&#148; has the meaning given such term in the Preamble to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Securities Act&#148; means the Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Significant Subsidiary&#148; means any Restricted Subsidiary that would be a &#147;Significant Subsidiary&#148; of the Issuer within the
meaning of Rule 1-02 under Regulation S-X promulgated by the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Similar Business&#148; means a business, the majority of whose
revenues are derived from the activities of the Issuer and its Subsidiaries as of the Issue Date or any business or activity that is reasonably similar or complementary thereto or a reasonable extension, development or expansion thereof or ancillary
thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Special Mandatory Redemption Date&#148; means the earlier of (a)&nbsp;the last Business Day that is on or before the 15th
day after a Special Mandatory Redemption Event or (b)&nbsp;any other Business Day selected by the Issuer and set forth in the notice of redemption, with respect to a Special Mandatory Redemption, but in any event upon not less than 5 Business
Days&#146; notice to Euroclear or Clearstream and given in accordance with the provisions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Special Mandatory
Redemption Event&#148; means the first to occur of (a)&nbsp;the Wise Acquisition is not consummated on or prior to July&nbsp;3, 2015, (b)&nbsp;the Unit Purchase Agreement is terminated, or (c)&nbsp;the Issuer determines in its sole discretion that
the Wise Acquisition will not be consummated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Standard Undertakings&#148; means representations, warranties, covenants, indemnities and
guarantees of performance entered into by the Issuer or any Subsidiary of the Issuer that are determined by the Issuer in good faith to be customary in a Receivables Financing, including, without limitation, those relating to the servicing of assets
of a Subsidiary, it being understood that any Receivables Repurchase Obligation shall be deemed to be a Standard Undertaking. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Stated Maturity&#148; means, with respect to any security, the date specified in such security as the fixed date on which the final
payment of principal of such security is due and payable, including pursuant to any mandatory redemption provision (but excluding any provision providing for the repurchase of such security at the option of the holder thereof upon the happening of
any contingency beyond the control of the issuer unless such contingency has occurred). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subordinated Indebtedness&#148; means
(a)&nbsp;with respect to the Issuer, any Indebtedness of the Issuer which is by its terms subordinated in right of payment to the Securities, and (b)&nbsp;with respect to any Guarantor, any Indebtedness of such Guarantor which is by its terms
subordinated in right of payment to its Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Subsidiary&#148; means, with respect to any Person, (1)&nbsp;any corporation,
association or other business entity (other than a partnership, joint venture or limited liability company) of which more than 50% of the total voting power of shares of Capital Stock entitled (without regard to the occurrence of any contingency) to
vote in the election of directors, managers or trustees thereof is at the time of determination owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, and
(2)&nbsp;any partnership, joint venture or limited liability company of which (x)&nbsp;more than 50% of the capital accounts, distribution rights, total equity and voting interests or general and limited partnership interests, as applicable, are
owned or controlled, directly or indirectly, by such Person or one or more of the other Subsidiaries of that Person or a combination thereof, whether in the form of membership, general, special or limited partnership interests or otherwise, and
(y)&nbsp;such Person or any Subsidiary of such Person is a controlling general partner or otherwise controls such entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Swap
Agreement&#148; means any agreement with respect to any swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or
securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for
payments only on account of services provided by current or former directors, officers, employees or consultants of the Issuer or any of the Restricted Subsidiaries shall be a Swap Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Taxes&#148; means all present and future taxes, levies, imposts, deductions, charges, duties, and withholdings and any similar
governmental charges (including interest and penalties with respect thereto) by any government or taxing authority. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Total Assets&#148; means, as of any date of determination, the total consolidated assets of
the Issuer and the Restricted Subsidiaries, as shown on the most recent balance sheet of the Issuer, and determined as of the time of the occurrence of any event giving rise to the requirement to determine Total Assets and after giving pro forma
effect to the occurrence of such event and all other acquisitions or dispositions of a Person, business or assets that have been completed or are subject to a definitive agreement from the date of such balance sheet to the date of such event giving
rise to the requirement to determine Total Assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Trustee&#148; means the party named as such in this Indenture until a successor
replaces it and, thereafter, means the successor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Uniform Commercial Code&#148; means the New York Uniform Commercial Code as in
effect from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Unit Purchase Agreement&#148; means the Unit Purchase Agreement, dated as of October&nbsp;3, 2014, by and
among Constellium N.V., Wise Metals Holdings LLC, a Delaware limited liability company, and Silver Knot, LLC, a Delaware limited liability company, as the representative. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Subsidiary&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Subsidiary of the Issuer that at the time of determination shall be designated an Unrestricted Subsidiary by the Board
of Directors of such Person in the manner provided below; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Subsidiary of an Unrestricted Subsidiary; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) Quiver Ventures, LLC and Constellium Engley (Changchun) Automotive Structures Co. Ltd. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I></I>The Board of Directors of the Issuer may designate any Subsidiary of the Issuer (including any newly acquired or newly formed Subsidiary of the Issuer)
to be an Unrestricted Subsidiary unless such Subsidiary or any of its Subsidiaries owns any Equity Interests or Indebtedness of, or owns or holds any Lien on any property of, the Issuer or any other Subsidiary of the Issuer that is not a Subsidiary
of the Subsidiary to be so designated; <I>provided</I>,<I> however</I>, that the Subsidiary to be so designated and its Subsidiaries do not at the time of designation have and do not thereafter Incur any Indebtedness pursuant to which the lender has
recourse to any of the assets of the Issuer or any of its Restricted Subsidiaries; provided, further, however, that either:<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Subsidiary to be so designated has total consolidated assets of $1,000 or less; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) if such Subsidiary has consolidated assets greater than $1,000, then such designation would be permitted under
Section&nbsp;4.04. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I></I>The Board of Directors of the Issuer may designate any Unrestricted Subsidiary to be a Restricted
Subsidiary; <I>provided</I>,<I> however</I>, that immediately after giving effect to such designation:<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(x) (1) the Issuer could
Incur $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a) or (2)&nbsp;the Fixed Charge Coverage Ratio for the Issuer and its Restricted Subsidiaries would be equal to or greater than
such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such designation, in each case on a pro forma basis taking into account such designation, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(y) no Event of Default shall have occurred and be continuing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such designation by the Board of Directors of the Issuer shall be evidenced to the Trustee by promptly filing with the Trustee a copy of
the resolution of the Board of Directors of the Issuer giving effect to such designation and an Officer&#146;s Certificate certifying that such designation complied with the foregoing provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;U.S. Dollars&#148; and &#147;$&#148; each mean the lawful currency of the United States of America. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Voting Stock&#148; of any Person as of any date means the Capital Stock of such Person that is at the time entitled to vote in the
election of the Board of Directors of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Weighted Average Life to Maturity&#148; means, when applied to any Indebtedness
or Disqualified Stock, as the case may be, at any date, the quotient obtained by dividing (1)&nbsp;the sum of the products of the number of years from the date of determination to the date of each successive scheduled principal payment of such
Indebtedness or redemption or similar payment with respect to such Disqualified Stock multiplied by the amount of such payment, by (2)&nbsp;the sum of all such payments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Restricted Subsidiary&#148; is any Wholly Owned Subsidiary that is a Restricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wholly Owned Subsidiary&#148; of any Person means a Subsidiary of such Person 100% of the outstanding Capital Stock or other ownership
interests of which (other than directors&#146; qualifying shares or shares required to be held by Foreign Subsidiaries) shall at the time be owned by such Person or by one or more Wholly Owned Subsidiaries of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise ABL Facility&#148; means that certain Credit Agreement, dated as of December&nbsp;11, 2013, by and among Wise Alloys, LLC, the
other credit parties party thereto, the Lenders party thereto from time to time and General Electric Capital Corporation, as agent, as amended, restated, supplemented, waived, replaced (whether or not upon termination, and whether with the original
lenders or otherwise), restructured, repaid, refunded, refinanced or otherwise modified from time to time, including any agreement extending the maturity thereof, refinancing, replacing or otherwise restructuring all or any portion of the
Indebtedness under such agreement or agreements or any successor or replacement agreement or agreements or increasing the amount loaned or issued thereunder or altering the maturity thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Acquisition&#148; means the acquisition of Wise Metals Intermediate Holdings LLC pursuant to the Unit Purchase Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Entities&#148; means Wise Metals Intermediate Holdings LLC and each of its direct and
indirect Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Existing Debt&#148; means the Wise Senior Secured Notes, the Wise Senior PIK Toggle Notes and the Wise
ABL Facility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Guarantee Restrictions&#148; means one or more covenants, provisions or terms in any of the Wise Existing Debt
that would be contravened, violated or otherwise breached by Wise Metals Intermediate Holdings LLC or its direct or indirect Subsidiaries providing a Guarantee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Senior PIK Toggle Notes&#148; means those certain 9.75 / 10.50% Senior PIK Toggle Notes due 2019 issued pursuant to an indenture,
dated as of April&nbsp;16, 2014, among Wise Metals Intermediate Holdings LLC, Wise Holdings Finance Corporation and Wilmington Trust, National Association, as trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Wise Senior Secured Notes&#148; means those certain 8.75% Senior Secured Notes due 2018 issued pursuant to an indenture, dated as of
December&nbsp;11, 2013, among Wise Metals Group LLC, Wise Alloys Finance Corporation, the guarantors party thereto and Wells Fargo Bank, National Association, as trustee and collateral agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.02 <U>Other Definitions</U>. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:17.30pt; font-size:8pt; font-family:Times New Roman">Term</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Defined</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:32.15pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">in&nbsp;Section</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Add-On Securities&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Additional Amounts&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Affiliate Transaction&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>4.07(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Appendix&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Asset Sale Offer&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Auditors&#146; Determination&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Authenticating Agent&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Bankruptcy Law&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Change of Control Offer&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>4.08(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;covenant defeasance option&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Covenant Suspension Event&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Custodian&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Definitive Security&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Appendix&nbsp;A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Depository&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Directive&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;DPTA&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>10.02(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Euroclear&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Event of Default&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Excess Proceeds&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>4.06(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;French Guarantor&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;German Guarantor&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP>10.02(b)(i)</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="10%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Global Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Global Securities Legend&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbH&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbHG&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(iii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GmbH&nbsp;&amp; Co. KG&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Guaranteed Obligations&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.01(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;HGB&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;IAI&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;incorporated provision&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>11.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Indirect Issuance&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Initial Purchasers&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;legal defeasance option&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>8.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Management Determination&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(v)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Maximum Guaranteed Amount&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Note Register&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Notice of Default&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Offer Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.06(d)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Original Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Payor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Principal Paying Agent&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;protected purchaser&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.08</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;QIB&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Refinancing Indebtedness&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.03(b)(xiv)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Refunding Capital Stock&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.04(b)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Registrar&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Regulation S&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Regulation S Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Relevant Taxing Jurisdiction&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Global Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Payments&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.04(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Securities Legend&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Retired Capital Stock&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.04(b)(ii)(A)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Reversion Date&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 501&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Rule 144A Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Shelf Registration Statement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Special Mandatory Redemption&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>3.09</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Company&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>5.01(a)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Successor Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>5.01(b)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspended Covenants&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.14(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspension Period&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>4.14(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Agreement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.15</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swiss Guarantor&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(d)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>5.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer Agent&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>2.04</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Transfer Restricted Securities&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Trustee&#146;s Request&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(b)(vi)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Withholding Tax&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>10.02(d)(ii)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Unrestricted Definitive Security&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" NOWRAP>Appendix A</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.03 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.04 <U>Rules of Construction</U>. Unless the context otherwise requires: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a term has the meaning assigned to it; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with IFRS; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) &#147;or&#148; is not exclusive; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) &#147;including&#148; means including without limitation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) words in the singular include the plural and words in the plural include the singular; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) unsecured Indebtedness shall not be deemed to be subordinate or junior to Secured Indebtedness merely by virtue of its
nature as unsecured Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) the principal amount of any non-interest bearing or other discount security at any
date shall be the principal amount thereof that would be shown on a balance sheet of the Issuer dated such date prepared in accordance with IFRS; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the principal amount of any Preferred Stock shall be (i)&nbsp;the maximum liquidation value of such Preferred Stock or
(ii)&nbsp;the maximum mandatory redemption or mandatory repurchase price with respect to such Preferred Stock, whichever is greater; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) unless otherwise specified herein, all accounting terms used herein shall be interpreted, all accounting determinations
hereunder shall be made, and all financial statements required to be delivered hereunder shall be prepared in accordance with IFRS. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) For purposes of determining compliance with any Euro-denominated restriction or basket limitation under Sections 4.03,
4.04, 4.06 and 4.12 hereof (including any defined terms referenced and utilized in such sections), as of any time of determination, any such basket limitation shall be deemed to be the greater of (i)&nbsp;the applicable Euro-denominated amount set
forth in this Indenture and (ii)&nbsp;the amount of Euro obtained by multiplying the applicable Euro-denominated amount set forth in this Indenture by 1.3774 (which was the dollar-to-Euro Exchange Rate as of March&nbsp;31, 2014) and then multiplying
the result by a number equal to the amount of Euros into which 1 U.S.&nbsp;Dollar may be converted using the Exchange Rate in effect at the time of determination. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) For purposes of determining compliance with Sections 4.03, 4.04, 4.06 and 4.12 hereof, utilized amounts under any such
covenant or basket shall be tracked in Euro irrespective of what currency is actually used to make the Incurrence. When an </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Incurrence is made in a currency other than Euro, the amount of Euro for purposes of the applicable covenant(s) shall be calculated based on the relevant currency Exchange Rate in effect on the
date such Incurrence was made, <I>provided</I> that if Indebtedness is Incurred to refinance other Indebtedness denominated in a currency other than Euros, and such refinancing would cause the applicable Euro-denominated restriction to be exceeded
if calculated at the relevant currency Exchange Rate in effect on the date of such refinancing, such Euro-denominated restriction shall be deemed not to have been exceeded so long as the principal amount of such refinancing Indebtedness does not
exceed the principal amount of such Indebtedness being refinanced. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 1.05 <U>Acts of Holders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be
given or taken by Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such
action shall become effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Issuer. Proof of execution of any such instrument or of a writing appointing any such
agent, or the holding by any Person of a Security, shall be sufficient for any purpose of this Indenture and (subject to Section&nbsp;7.01) conclusive in favor of the Trustee and the Issuer, if made in the manner provided in this Section&nbsp;1.05.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a
witness of such execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof.
Where such execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such
instrument or writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The ownership of Securities shall be proved by the Note Register. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Any request, demand, authorization, direction, notice, consent, waiver or other action by the Holder of any Security shall
bind every future Holder of the same Security and the Holder of every Security issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered or omitted by the Trustee or the
Issuer in reliance thereon, whether or not notation of such action is made upon such Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Issuer may set a
record date for purposes of determining the identity of Holders entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent authorized or
permitted to be given or taken by Holders. Unless otherwise specified, if not set by the Issuer prior to the first solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote, prior to such vote, any
such record date shall be the later of 30 days prior to the first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Without limiting the foregoing, a Holder entitled to take any action
hereunder with regard to any particular Security may do so with regard to all or any part of the principal amount of such Security or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or
any part of such principal amount. Any notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph shall have the same effect as if given or taken by separate Holders of
each such different part. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Without limiting the generality of the foregoing, a Holder, including the Common Depositary
that is the Holder of a Global Security, may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or
taken by Holders, and the Common Depositary that is the Holder of a Global Security may provide its proxy or proxies to the beneficial owners of interests in any such Global Security through such depositary&#146;s standing instructions and customary
practices. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The Issuer may fix a record date for the purpose of determining the Persons who are beneficial owners of
interests in any Global Security held by the Common Depositary entitled under the procedures of such depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent,
waiver or other action provided in this Indenture to be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give
or take such request, demand, authorization, direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other
action shall be valid or effective if made, given or taken more than 90 days after such record date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE SECURITIES </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
2.01 <U>Amount of Securities</U>. The aggregate principal amount of Securities which may be authenticated and delivered under this Indenture on the Issue Date is &#128;240,000,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, the Issuer may from time to time after the Issue Date issue Add-On Securities under this Indenture in an unlimited principal
amount, so long as (i)&nbsp;the Incurrence of the Indebtedness represented by such Add-On Securities is at such time permitted by Section&nbsp;4.03 and (ii)&nbsp;such Add-On Securities are issued in compliance with the other applicable provisions of
this Indenture. With respect to any Add-On Securities issued after the Issue Date (except for Securities authenticated and delivered upon registration of, transfer of, or in exchange for, or in lieu of, other Securities pursuant to
Section&nbsp;2.07, 2.08, 2.09, 2.10, 3.06, 4.08(c) or the Appendix), there shall be (a)&nbsp;established in or pursuant to a resolution of the Board of Directors and (b)&nbsp;(i)&nbsp;set forth or determined in the manner provided in an
Officer&#146;s Certificate or (ii)&nbsp;established in one or more indentures supplemental hereto, prior to the issuance of such Add-On Securities: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the aggregate principal amount of such Add-On Securities which may be authenticated and delivered under this Indenture,
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) the issue price and issuance date of such Add-On Securities, including the
date from which interest on such Add-On Securities shall accrue; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) if applicable, that such Add-On Securities shall
be issuable in whole or in part in the form of one or more Global Securities and, in such case, the respective depositaries for such Global Securities, the form of any legend or legends which shall be borne by such Global Securities in addition to
or in lieu of those set forth in Exhibit A hereto and any circumstances in addition to or in lieu of those set forth in Section&nbsp;2.2 of Appendix A in which any such Global Security may be exchanged in whole or in part for Add-On Securities
registered, or any transfer of such Global Security in whole or in part may be registered, in the name or names of Persons other than the depositary for such Global Security or a nominee thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any of the terms of any Add-On Securities are established by action taken pursuant to a resolution of the Board of Directors, a copy of an
appropriate record of such action shall be certified by the Secretary or any Assistant Secretary of the Issuer and delivered to the Trustee at or prior to the delivery of the Officer&#146;s Certificate or the indenture supplemental hereto setting
forth the terms of the Add-On Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities, including any Add-On Securities, shall be treated as a single series for all
purposes under this Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.02
<U>Form and Dating</U>. Provisions relating to the Original Securities and the Add-On Securities are set forth in the Appendix, which is hereby incorporated in and expressly made a part of this Indenture. The (i)&nbsp;Original Securities and the
Trustee&#146;s certificate of authentication and (ii)&nbsp;any Add-On Securities (if issued as Transfer Restricted Securities) and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A hereto, which is
hereby incorporated in and expressly made a part of this Indenture. Any Add-On Securities issued other than as Transfer Restricted Securities and the Trustee&#146;s certificate of authentication shall each be substantially in the form of Exhibit A
hereto, which is hereby incorporated in and expressly made a part of this Indenture. The Securities may have notations, legends or endorsements required by law, stock exchange rule, agreements to which the Issuer or any Guarantor is subject, if any,
or usage (provided that any such notation, legend or endorsement is in a form acceptable to the Issuer). Each Security shall be dated the date of its authentication. The Securities shall be issuable only in registered form without interest coupons
and in denominations of &#128;100,000 and any integral multiples of &#128;1,000 in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.03 <U>Execution and
Authentication</U>. The Trustee, or its authenticating agent (the &#147;Authenticating Agent&#148;) shall authenticate and make available for delivery upon a written order of the Issuer (a &#147;Written Order&#148;) in the form of an Officer&#146;s
Certificate (a)&nbsp;Original Securities for original issue on the date hereof in an aggregate principal amount of &#128;240,000,000, consisting of &#128;240,000,000 in initial aggregate principal amount of
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
7.00% Senior Notes due 2023 and (b)&nbsp;subject to the terms of this Indenture, Add-On Securities in an aggregate principal amount to be determined at the time of issuance and specified therein.
Such order shall specify the amount of the Securities to be authenticated and the date on which the original issue of Securities is to be authenticated. Notwithstanding anything to the contrary in this Indenture or the Appendix, any issuance of
Securities after the Issue Date shall be in a principal amount of at least &#128;100,000 and integral multiples of &#128;1,000 in excess of &#128;100,000. One Officer shall sign the Securities for the Issuer by manual, facsimile, pdf or other
electronically transmitted signature. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on a Security no longer holds that office at the time the Trustee
authenticates the Security, the Security shall be valid nevertheless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Security shall not be valid until an authorized signatory of the
Authenticating Agent manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been authenticated under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may appoint one or more authenticating agents reasonably acceptable to the Issuer to authenticate the Securities. Any such
appointment shall be evidenced by an instrument signed by a Responsible Officer of the Trustee, a copy of which shall be furnished to the Issuer. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities
whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as any Registrar, paying agent or agent for service of notices and
demands. The Issuer hereby initially appoints Deutsche Bank Luxembourg S.A., as Authenticating Agent. Deutsche Bank Luxembourg S.A., hereby accepts such initial appointment and the Issuer hereby confirms that such initial appointment is acceptable
to them. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.04 <U>Registrar; Transfer Agent and Paying Agent</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) The Issuer will maintain one or more paying agents for the Securities in London, United Kingdom (the &#147;Principal Paying Agent&#148;).
Each Principal Paying Agent will be a paying agent hereunder. The Issuer will also maintain a transfer agent (&#147;Transfer Agent&#148;) and a listing agent, and the initial Transfer Agent and listing agent is expected to be Deutsche Bank
Luxembourg S.A. The Transfer Agent is responsible for, among other things, facilitating any transfers or exchanges of beneficial interests in different global notes between holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, the Issuer undertakes that it will ensure that it maintains a paying agent in a Member State of the European Union that is not
obliged to withhold or deduct tax pursuant to European Council Directive 2003/48/EC or any other Directive implementing the conclusions of the European Council of Economics and Finance Ministers (&#147;ECOFIN&#148;) meeting of November&nbsp;26-27,
2000 or any law implementing or complying with, or introduced in order to conform to, such Directive (if such Member State exists). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The
Issuer also will maintain one or more registrars. The initial Registrar is expected to be Deutsche Bank Luxembourg S.A. The Registrar will maintain a register reflecting ownership of Definitive Securities outstanding from time to time and will make
payments on Definitive Securities on behalf of the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>The Issuer may change the paying agents, the Transfer Agents or the Registrars without
prior notice to the holders. For so long as the Securities are listed on the Official List of the Luxembourg Stock Exchange and traded on the Euro MTF Market thereof and the rules of the Luxembourg Stock Exchange so require, the Issuer will publish
a notice of any change of paying agent, Transfer Agent or Registrar in a newspaper having a general circulation in the Grand Duchy of Luxembourg (currently expected to be the <I>Luxemburger Wort</I>) or the website of the Luxembourg Stock Exchange
(<I>www.bourse.lu</I>).<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Issuer hereby initially appoints Deutsche Bank Luxembourg S.A., as Registrar and Transfer Agent.
Deutsche Bank Luxembourg S.A., hereby accepts such initial appointment and the Issuer hereby confirms that such initial appointment is acceptable to them. The Issuer hereby initially appoints Deutsche Bank AG, London Branch, as Principal Paying
Agent. Deutsche Bank AG, London Branch, hereby accepts such initial appointment and the Issuer hereby confirms that such initial appointment is acceptable to them. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall maintain (i)&nbsp;an office or agency where Securities may be presented for registration of transfer or for exchange (the
&#147;Registrar&#148;) and (ii)&nbsp;an office or agency (including the Principal Paying Agent) where Securities may be presented for payment. The Registrar shall keep a register of the Securities and of their transfer and exchange (the &#147;Note
Register&#148;). The Issuer may have one or more co-registrars and one or more additional paying agents. The term &#147;Registrar&#148; includes any co-registrars. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may enter into an appropriate agency agreement with any Registrar or paying agent not a party to this Indenture. The agreement
shall implement the provisions of this Indenture that relate to such agent. The Issuer shall notify the Trustee of the name and address of any such agent. The Issuer or any of its domestically organized Wholly Owned Subsidiaries may act as paying
agent or Registrar. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(c) The Issuer may remove any Registrar or paying agent upon written notice to such Registrar or paying agent
and to the Trustee; <I>provided</I>,<I> however</I>, that no such removal shall become effective until (i)&nbsp;if applicable, acceptance of an appointment by a successor as evidenced by an appropriate agreement entered into by the Issuer and such
successor Registrar or paying agent, as the case may be, and delivered to the Trustee. The Registrar or paying agent may resign at any time upon written notice to the Issuer and the Trustee.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The right, powers, duties, obligations and actions of each Agent under this Indenture are several and not joint or joint and several, and the
Agents shall only be obliged to perform the duties set out in this agreement and shall have no implied duties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.05 <U>Paying
Agent to Hold Money in Trust</U>. Prior to 10:00 a.m. London Time on each due date of the principal of and interest on any Security, the Issuer shall deposit with each paying agent (or if the Issuer or a Wholly Owned Subsidiary is acting as paying
agent, segregate and hold in trust for the benefit of the Persons entitled thereto) a sum sufficient to pay such principal and interest when so becoming due. The Issuer shall require each paying agent (other than the Trustee) to agree in writing
that a paying agent shall hold for the benefit of Holders or the Trustee all money held by a paying agent for the payment of principal of and interest on the Securities, and shall notify the Trustee of any default by the Issuer in making any such
payment. If the Issuer or a Wholly Owned Subsidiary of the Issuer acts as paying agent, it shall segregate the money held by it as paying agent and hold it in trust for the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
benefit of the Persons entitled thereto. The Issuer at any time may require a paying agent to pay all money held by it to the Trustee and to account for any funds disbursed by such paying agent.
Upon complying with this Section, a paying agent shall have no further liability for the money delivered to the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.06
<U>Holder Lists</U>. The Registrar shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of Holders. The Issuer shall furnish, or cause the Registrar to furnish, to the
Trustee, in writing at least five Business Days before each interest payment date and at such other times as the Trustee may request in writing, a list in such form and as of such date as the Trustee may reasonably require of the names and addresses
of Holders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.07 <U>Transfer and Exchange</U>. The Securities shall be issued in registered form and shall be transferable only
upon the surrender of a Security for registration of transfer and in compliance with the Appendix. When a Security is presented to the Registrar with a request to register a transfer, the Registrar shall register the transfer as requested if its
requirements therefor are met. When Securities are presented to the Registrar with a request to exchange them for an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same
requirements are met. To permit registration of transfers and exchanges, the Issuer shall execute and the Trustee or the Authenticating Agent shall, upon receipt of a Written Order, authenticate Securities at the Registrar&#146;s request. The Issuer
may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges in connection with any transfer or exchange pursuant to this Section. The Issuer shall not be required to make, and the Registrar need not register,
transfers or exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or of any Securities for a period of 15 days before a selection of Securities to be
redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Prior to the due presentation for registration of transfer of any Security, the Issuer, the Guarantors, the Trustee, the paying
agent and the Registrar may deem and treat the Person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest, if any, on such Security and for all other
purposes whatsoever, whether or not such Security is overdue, and none of the Issuer, any Guarantor, the Trustee, the paying agent or the Registrar shall be affected by notice to the contrary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any Holder of a beneficial interest in a Global Security shall, by acceptance of such beneficial interest, agree that transfers of beneficial
interests in such Global Security may be effected only through a book-entry system maintained by (a)&nbsp;the Holder of such Global Security (or its agent) or (b)&nbsp;any Holder of a beneficial interest in such Global Security, and that ownership
of a beneficial interest in such Global Security shall be required to be reflected in a book entry. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All Securities issued upon any
transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.08 <U>Replacement Securities</U>. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that
the Security has been lost, destroyed or wrongfully taken, the Issuer shall issue and the Registrar shall authenticate a replacement </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Security if the requirements of Section&nbsp;8-405 of the Uniform Commercial Code are met, such that the Holder (a)&nbsp;satisfies the Issuer or the Registrar within a reasonable time after such
Holder has notice of such loss, destruction or wrongful taking and the Registrar does not register a transfer prior to receiving such notification, (b)&nbsp;makes such request to the Issuer or the Registrar prior to the Security being acquired by a
protected purchaser as defined in Section&nbsp;8-303 of the Uniform Commercial Code (a &#147;protected purchaser&#148;) and (c)&nbsp;satisfies any other reasonable requirements of the Registrar. If required by the Registrar or the Issuer, such
Holder shall furnish an indemnity bond sufficient in the judgment of the Registrar or the Issuer to protect the Issuer, the Registrar, a paying agent and the Registrar from any loss that any of them may suffer if a Security is replaced. The Issuer
and the Registrar may charge the Holder for their expenses in replacing a Security (including without limitation, attorneys&#146; fees and disbursements in replacing such Security). In the event any such mutilated, lost, destroyed or wrongfully
taken Security has become or is about to become due and payable, the Issuer in its discretion may pay such Security instead of issuing a new Security in replacement thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Every replacement Security is an additional obligation of the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The provisions of this Section&nbsp;2.08 are exclusive and shall preclude (to the extent lawful) all other rights and remedies with respect to
the replacement or payment of mutilated, lost, destroyed or wrongfully taken Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.09 <U>Outstanding Securities</U>.
Securities outstanding at any time are all Securities authenticated by the Trustee except for those canceled by it, those delivered to it for cancellation and those described in this Section as not outstanding. Subject to Section&nbsp;11.07, a
Security does not cease to be outstanding because the Issuer or an Affiliate of the Issuer holds the Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Security is replaced
pursuant to Section&nbsp;2.08 (other than a mutilated Security surrendered for replacement), it ceases to be outstanding unless the Trustee and the Issuer receive proof satisfactory to them that the replaced Security is held by a protected
purchaser. A mutilated Security ceases to be outstanding upon surrender of such Security and replacement thereof pursuant to Section&nbsp;2.08. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a paying agent segregates, in accordance with this Indenture, on a redemption date or maturity date money sufficient to pay all principal
and interest payable on that date with respect to the Securities (or portions thereof) to be redeemed or maturing, as the case may be, and no paying agent is prohibited from paying such money to the Holders on that date pursuant to the terms of this
Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding and interest on them ceases to accrue. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.10 <U>[Reserved.]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.11 <U>Cancellation</U>. The Issuer at any time may deliver Securities to the Trustee for cancellation. The Registrar and the paying
agent shall forward to the Trustee any Securities surrendered to them for registration of transfer, exchange or payment. The Trustee and no one else shall cancel all Securities surrendered for registration of transfer, exchange, payment or
cancellation and shall dispose of canceled Securities in accordance with its customary procedures. The Issuer may not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee for cancellation. The Trustee shall
not authenticate Securities in place of canceled Securities other than pursuant to the terms of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.12 <U>Defaulted Interest</U>. If the Issuer defaults in a payment of interest on the
Securities, the Issuer shall pay the defaulted interest then borne by the Securities (plus interest on such defaulted interest to the extent lawful) in any lawful manner. The Issuer may pay the defaulted interest to the Persons who are Holders on a
subsequent special record date. The Issuer shall fix or cause to be fixed any such special record date and payment date and shall promptly mail or cause to be mailed to each affected Holder a notice that states the special record date, the payment
date and the amount of defaulted interest to be paid. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.13 <U>ISINs, etc.</U> The Issuer in issuing the Securities may use ISINs
and &#147;Common Code&#148; numbers (if then generally in use) and, if so, the Trustee shall use ISINs and &#147;Common Code&#148; numbers in notices of redemption as a convenience to Holders; <I>provided</I>, <I>however</I>, that any such notice
may state that no representation is made as to the correctness of such numbers, either as printed on the Securities or as contained in any notice of a redemption that reliance may be placed only on the other identification numbers printed on the
Securities and that any such redemption shall not be affected by any defect in or omission of such numbers. The Issuer shall advise the Trustee of any change in the ISINs and &#147;Common Code&#148; numbers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.14 <U>Calculation of Principal Amount of Securities</U>. The aggregate principal amount of the Securities, at any date of
determination, shall be the principal amount of the Securities outstanding at such date of determination. With respect to any matter requiring consent, waiver, approval or other action of the Holders of a specified percentage of the principal amount
of all the Securities, such percentage shall be calculated, on the relevant date of determination, by dividing (a)&nbsp;the principal amount, as of such date of determination, of Securities, the Holders of which have so consented, by (b)&nbsp;the
aggregate principal amount, as of such date of determination, of the Securities then outstanding, in each case, as determined in accordance with the preceding sentence, Section&nbsp;2.09 and Section&nbsp;11.07 of this Indenture. Any such calculation
made pursuant to this Section&nbsp;2.14 shall be made by the Issuer and delivered to the Trustee pursuant to an Officer&#146;s Certificate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 2.15 <U>Additional Amounts</U>. All payments made by or on behalf of the Issuer or any Guarantor or any successor in interest to any
of the foregoing (each, a &#147;Payor&#148;) on or with respect to the Securities or any Guarantee shall be made without withholding or deduction for, or on account of, any Taxes unless such withholding or deduction is required by law. If any
deduction or withholding for, or on account of, any Taxes imposed or levied by or on behalf of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) any jurisdiction from
or through which payment on the Securities or any Guarantee is made or any political subdivision or governmental authority thereof or therein having the power to tax (including the jurisdiction of any paying agent); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any other jurisdiction in which a Payor that actually makes a payment on the Securities or its Guarantee is organized or
otherwise considered to be engaged in business or resident for tax purposes, or any political subdivision or governmental authority thereof or therein having the power to tax </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of clause (a)&nbsp;and (b), a &#147;Relevant Taxing Jurisdiction&#148;), shall at any time be required by
law to be made from any payments made with respect to the Securities or any Guarantee, including payments of principal, redemption price, interest or premium, if any, the Payor shall pay (together with such payments) such additional amounts (the
&#147;Additional Amounts&#148;) as may be necessary in order that the net amounts received in respect of such payments, after such withholding or deduction (including any such deduction or withholding from such Additional Amounts), shall not be less
than the amounts that would have been received in respect of such payments on the Securities or the Guarantees in the absence of such withholding or deduction; provided, however, that no such Additional Amounts shall be payable for or on account of:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any Taxes that would not have been so imposed or levied but for the existence of any present or former connection
between the holder (or between a fiduciary, settlor, beneficiary, partner, member or shareholder of, or possessor of power over, the holder, if such holder is an estate, nominee, trust, partnership, limited liability company or corporation) and the
Relevant Taxing Jurisdiction (including being a citizen or resident or national of, or carrying on a business or maintaining a permanent establishment in, or being physically present in, the Relevant Taxing Jurisdiction) but excluding, in each case,
any connection arising solely from the acquisition, ownership or holding of such Securities or the receipt of any payment in respect thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) any Taxes that would not have been so imposed or levied if the holder had complied with a reasonable request in writing of
the Payor (such request being made at a time that would enable such holder acting reasonably to comply with that request) to make a declaration of nonresidence or any other claim or filing or satisfy any certification, information or reporting
requirement for exemption from, or reduction in the rate of, withholding to which it is entitled (provided that such declaration of nonresidence or other claim, filing or requirement is required by the applicable law, treaty, regulation or
administrative practice of the Relevant Taxing Jurisdiction as a precondition to exemption from the requirement to deduct or withhold all or a part of any such Taxes) but only to the extent such holder is legally entitled to provide such
certification or documentation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any Taxes that are payable otherwise than by withholding or deduction from a payment
on the Securities or any Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any estate, inheritance, gift, sales, excise, transfer, personal property or
similar Taxes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) any Taxes that are imposed pursuant to or required to be deducted or withheld on a payment pursuant to
the European Union Directive 2003/48/EC of 3&nbsp;June 2003 regarding the taxation of savings income (the &#147;Directive&#148;) or the Agreement between the European Community and the Swiss Confederation dated October&nbsp;26, 2004 providing for
measures equivalent to those laid down in the Directive (the &#147;Swiss Agreement&#148;) or any law implementing or complying with, or introduced in order to conform to the Directive or the Swiss Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(6) any Taxes that are required to be deducted or withheld on a payment by a Guarantor incorporated in Switzerland
and/or having its registered office in Switzerland and/or qualifying as a Swiss resident pursuant to art 9 of the Swiss Withholding Tax Act as Swiss withholding tax under the Swiss Federal Act on the Withholding Tax of 13&nbsp;October 1965
(<I>Bundesgesetz &uuml;ber die Verrechnungssteuer</I>);<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any Taxes imposed in connection with a Security presented for payment by or
on behalf of a Holder who would have been able to avoid such Tax by presenting the relevant Security to another paying agent in a member state of the European Union; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) any Taxes payable under Sections 1471 through 1474 of the Code, as of the date of the Offering Memorandum (or any amended
or successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof and any agreements (including any intergovernmental agreements) entered into
pursuant thereto; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) any Taxes if the holder is a fiduciary or partnership or Person other than the sole beneficial owner
of such payment and the Taxes that would otherwise give rise to such Additional Amounts would not have been imposed on such payment had the holder been the beneficiary, partner or sole beneficial owner, as the case may be, of such Security (but only
if there is no material cost or expense associated with transferring such Security to such beneficiary, partner or sole beneficial owner and no restriction on such transfer that is outside the control of such beneficiary, partner or sole beneficial
owner); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) any Taxes payable pursuant to laws enacted by Switzerland providing for the taxation of payments according to
principles similar to those laid down in the draft legislation proposed by the Swiss Federal Council on 24&nbsp;August 2011, in particular, the principle to have a Person other than the Issuer or a Guarantor withhold or deduct tax; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(11) any Taxes payable pursuant to an agreement between Switzerland and another country on final withholding taxes
levied by Swiss paying agents in respect of Persons resident in the other country on income of such Person on Securities booked or deposited with a Swiss paying agent (<I>Abgeltungssteuer</I>); or<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) any combination of the above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Such Additional Amounts shall also not be payable (x)&nbsp;if the payment could have been made without such deduction or withholding if the
relevant Security had been presented for payment (where presentation is required) within 30 days after the relevant payment was first made available for payment to the holder or (y)&nbsp;to the extent where, had the beneficial owner of the relevant
Security been the Holder of such Security, such beneficial owner would not have been entitled to payment of Additional Amounts by reason of any of clauses (1)&nbsp;to (12)&nbsp;inclusive above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Payor shall (i)&nbsp;make any required withholding or deduction and (ii)&nbsp;remit the full amount deducted or withheld to the relevant
taxing authority of the Relevant Taxing Jurisdiction in accordance with applicable law. Upon request, the Payor shall use all reasonable efforts to obtain certified copies of tax receipts evidencing the payment of any Taxes so deducted or withheld
from each relevant taxing authority of each Relevant Taxing Jurisdiction imposing such Taxes and shall provide such certified copies to the Trustee. If, notwithstanding the efforts of such Payor to obtain such receipts, the same are not obtainable,
such Payor shall provide the Trustee with other reasonable evidence of payment. Such receipts or other evidence received by the Trustee shall be made available by the Trustee to Holders on request. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any Payor shall be obligated to pay Additional Amounts under or with respect to any payment
made on the Securities or any Guarantee, at least 30 days prior to the date of such payment, the Payor shall deliver to the Trustee and applicable paying agent an Officer&#146;s Certificate stating the fact that Additional Amounts shall be payable
and the amount so payable and such other information necessary to enable the paying agent to pay Additional Amounts on the relevant payment date (unless such obligation to pay Additional Amounts arises less than 45 days prior to the relevant payment
date, in which case the Payor shall deliver such Officer&#146;s Certificate and such other information as promptly as practicable thereafter). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wherever in this Indenture, the Securities or any Guarantee there is mentioned, in any context: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the payment of principal; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) redemption prices or purchase prices in connection with a redemption or purchase of Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) interest; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) any other amount payable on or with respect to any of the Securities or any Guarantee; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">such reference shall be deemed to include payment of Additional Amounts as described under this heading to the extent that, in such context, Additional
Amounts are, were or would be payable in respect thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>The Payor shall pay any present or future stamp, court or documentary
Taxes, or any other excise, property or similar Taxes that arise in any Relevant Taxing Jurisdiction from the execution, delivery, issuance, initial resale, registration or enforcement of any Securities, Guarantee, Indenture or any other document or
instrument in relation thereto (other than a transfer of the Securities occurring after the initial resale). The foregoing obligations shall survive any termination, defeasance or discharge of this Indenture and shall apply <I>mutatis mutandis</I>
to any jurisdiction in which any successor to a Payor is organized or otherwise considered to be engaged in business or resident for Tax purposes, or any political subdivision or taxing authority or agency thereof or therein.<I> </I></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 3 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REDEMPTION
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.01 <U>Redemption</U>. The Securities may be redeemed, in whole, or from time to time in part, subject to the conditions and
at the redemption prices set forth in Paragraphs 5 and 6 of the form of Securities set forth in Exhibit A hereto, which are hereby incorporated by reference and made a part of this Indenture, together with accrued and unpaid interest to the
redemption date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.02 <U>Applicability of Article</U>. Redemption of Securities at the election of the
Issuer or otherwise, as permitted or required by any provision of this Indenture, shall be made in accordance with such provision and this Article. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.03 <U>Notices to Trustee</U>. If the Issuer elects to redeem Securities pursuant to the optional redemption provisions of Paragraph
5 or 6 of the Security, it shall notify the Trustee and the paying agent in writing of (i)&nbsp;the Section of this Indenture pursuant to which the redemption shall occur, (ii)&nbsp;the redemption date, (iii)&nbsp;the principal amount of Securities
to be redeemed and (iv)&nbsp;the redemption price. The Issuer shall give notice to the Trustee and the paying agent provided for in this paragraph at least 30 days but not more than 60 days before a redemption date if the redemption is pursuant to
Paragraph 5 of the Security, unless a shorter period is acceptable to the Trustee. Such notice shall be accompanied by an Officer&#146;s Certificate and Opinion of Counsel from the Issuer to the effect that such redemption will comply with the
conditions herein. If fewer than all the Securities are to be redeemed, the record date relating to such redemption shall be selected by the Issuer and given to the Trustee, which record date shall be not fewer than 15 days after the date of notice
to the Trustee. Any such notice may be canceled at any time prior to notice of such redemption being mailed to any Holder and shall thereby be void and of no effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.04 <U>Selection of Securities to Be Redeemed</U>. In the case of any redemption of less than all of the Securities, selection of
Securities for redemption will be made by the Registrar pro rata, by lot or such other manner in the case of Global Securities, as may be required by the applicable procedures of Euroclear and/or Clearstream; provided that no Securities of
&#128;100,000 or less shall be redeemed in part. If any Security is to be redeemed in part only, the notice of redemption relating to such Security shall state the portion of the principal amount thereof to be redeemed. Euroclear and Clearstream
will credit their respective participants&#146; accounts on a proportionate basis (with adjustments to prevent fractions) or on such other basis as they deem fair and appropriate; provided, however, that no Securities of less than &#128;100,000 in
principal amount may be redeemed in part. Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Registrar shall notify the Issuer promptly of the Securities or
portions of Securities to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.05 <U>Notice of Optional Redemption</U>. (a)&nbsp;At least 30 days but not more than 60
days before a redemption date pursuant to Paragraph 5 or 6 of the Security, the Issuer shall mail or cause to be electronically delivered or mailed by first-class mail a notice of redemption to each Holder whose Securities are to be redeemed;
<I>provided</I>, <I>however</I>, that in the case of a Special Mandatory Redemption, such notices may be mailed less than 30 days (but at least 10 days) before the Special Mandatory Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any such notice shall identify the Securities to be redeemed and shall state: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the redemption price and the amount of accrued interest to the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the name and address of the paying agent; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) that Securities called for redemption must be surrendered to the paying
agent to collect the redemption price, plus accrued interest; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if fewer than all the outstanding Securities are to be
redeemed, the certificate numbers and principal amounts of the particular Securities to be redeemed, the aggregate principal amount of Securities to be redeemed and the aggregate principal amount of Securities to be outstanding after such partial
redemption; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) that, unless the Issuer defaults in making such redemption payment or the paying agent is prohibited from
making such payment pursuant to the terms of this Indenture, interest on Securities (or portion thereof) called for redemption ceases to accrue on and after the redemption date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) the ISIN and/or &#147;Common Code&#148; number, if any, printed on the Securities being redeemed; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) that no representation is made as to the correctness or accuracy of the CUSIP number or ISIN and/or &#147;Common
Code&#148; number, if any, listed in such notice or printed on the Securities. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) At the Issuer&#146;s written request,
the Trustee shall give the notice of redemption in the Issuer&#146;s name and at the Issuer&#146;s expense. In such event (including, for the avoidance of doubt, in the case of a Special Mandatory Redemption), the Issuer shall provide the Trustee
with the information required by this Section at least five Business Days prior to the date such notice is to be provided to Holders and such notice may not be canceled. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>Notices may be given by delivery of the relevant notices to Euroclear or Clearstream for communication to entitled
account holders in substitution for the aforesaid mailing. So long as any Securities are listed on the Official List of the Luxembourg Stock Exchange and admitted for trading on the Euro MTF Market and the rules of the Luxembourg Stock Exchange so
require, any such notice to the Holders of the relevant Securities shall also be published in a newspaper having a general circulation in the Grand Duchy of Luxembourg (which is expected to be the <I>Luxemburger Wort</I>) or, to the extent and in
the manner permitted by such rules, posted on the official website of the Luxembourg Stock Exchange (www.bourse.lu) and, in connection with any redemption, the Issuer will notify the Luxembourg Stock Exchange of any change in the principal amount of
Securities outstanding.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.06 <U>Effect of Notice of Redemption</U>. Once notice of redemption is mailed in accordance with
Section&nbsp;3.05, Securities called for redemption become due and payable on the redemption date and at the redemption price stated in the notice, except as provided in paragraph 5 of the Securities. Upon surrender to the paying agent, such
Securities shall be paid at the redemption price stated in the notice, plus accrued interest, to, but not including, the redemption date; <I>provided</I>, <I>however</I>, that if the redemption date is after a regular record date and on or prior to
the interest payment date, the accrued interest shall be payable to the Holder of the redeemed Securities registered on the relevant record date. Failure to give notice or any defect in the notice to any Holder shall not affect the validity of the
notice to any other Holder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.07 <U>Deposit of Redemption Price</U>. With respect to any Securities, prior to 10:00
a.m., London time, on the redemption date, the Issuer shall deposit with the paying agent (or, if the Issuer or a Wholly Owned Subsidiary is the paying agent, shall segregate and hold in trust) money sufficient to pay the redemption price of and
accrued interest on all Securities or portions thereof to be redeemed on that date other than Securities or portions of Securities called for redemption that have been delivered by the Issuer to the Trustee for cancellation. On and after the
redemption date, interest shall cease to accrue on Securities or portions thereof called for redemption so long as the Issuer has deposited with the paying agent funds sufficient to pay the principal of, plus accrued and unpaid interest on, the
Securities to be redeemed, unless the paying agent is prohibited from making such payment pursuant to the terms of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.08 <U>Securities Redeemed in Part</U>. Upon surrender of a Security that is redeemed in part, the Issuer shall execute and the
Authenticating Agent shall, upon receipt of a Written Order, authenticate for the Holder (at the Issuer&#146;s expense) a new Security equal in principal amount to the unredeemed portion of the Security surrendered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 3.09 <U>Special Mandatory Redemption</U>. If a Special Mandatory Redemption Event occurs, the Issuer shall, on the Special Mandatory
Redemption Date, redeem all and not less than all of the Securities outstanding as of such date, at a redemption price equal to 100% of the principal amount of the Securities, plus accrued and unpaid interest from the Issue Date to, but excluding,
the Special Mandatory Redemption Date (such redemption being referred to herein as a &#147;Special Mandatory Redemption&#148;) in accordance with the provisions of this Article 3. Upon a Special Mandatory Redemption Event, all Securities of this
series shall become due and payable on the Special Mandatory Redemption Date, regardless of whether previously called for redemption. Upon consummation of the Wise Acquisition, this Section&nbsp;3.09 will terminate and cease to apply. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 4 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COVENANTS
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.01 <U>Payment of Securities</U>. The Issuer shall pay the principal of and interest on the Securities on the dates and in
the manner provided in the Securities and in this Indenture. The Issuer shall no later than two Business Days prior to the date on which such payment is due, send to the paying agent an irrevocable payment instruction. An installment of principal of
or interest shall be considered paid on the date due if on such date the Trustee or the paying agent holds as of 10:00 a.m. London time money sufficient to pay all principal and interest then due and the Trustee or the paying agent, as the case may
be, is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture; however, no paying agent shall be obligated to make such payment to the Holders until such time as it has received the funds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on overdue principal at the rate specified therefor in the Securities, and it shall pay interest on overdue
installments of interest at the same rate borne by the Securities to the extent lawful. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.02 <U>Reports and Other Information</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(a) So long as any Securities are outstanding and whether or not the Issuer is subject to Section&nbsp;13(a) or 15(d) of
the Exchange Act, the Issuer shall furnish to the Trustee: (i)&nbsp;within 65 days after the end of each of the first three fiscal quarters in each fiscal year, quarterly reports containing unaudited financial statements (including a balance sheet
and statement of income, changes in stockholders&#146; equity and cash flow) for and as of the end of such fiscal quarter and year to date period (with comparable financial statements for the corresponding fiscal quarter and year to date period of
the immediately preceding fiscal year); (ii)&nbsp;within 120 days after the end of each fiscal year, an annual report that includes all information that would be required to be filed with the SEC on Form 20-F (or any successor form); and
(iii)&nbsp;at or prior to such times as would be required to be filed or furnished to the SEC as a &#147;foreign private issuer&#148; subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, all such other reports and information that the Issuer
would have been required to file or furnish pursuant thereto; <I>provided</I>, <I>however</I>, that to the extent that the Issuer ceases to qualify as a &#147;foreign private issuer&#148; within the meaning of the Exchange Act, whether or not the
Issuer is then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act, the Issuer shall either file or furnish with the SEC (as a &#147;voluntary filer&#148; if the Issuer is not then subject to Section&nbsp;13(a) or 15(d) of the Exchange Act)
or furnish to the Trustee, so long as any Securities are outstanding, within 30 days of the respective dates on which the Issuer would be required to file such documents with the SEC if it was required to file such documents under the Exchange Act,
all reports and other information that would be required to be filed with (or furnished to) the SEC pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act as, in the Issuer&#146;s sole discretion, either a &#147;foreign private issuer&#148; or
a U.S. domestic registrant.<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In addition, if required by the rules and regulations of the SEC, the Issuer shall
electronically file or furnish, as the case may be, a copy of all such information and reports with the SEC for public availability within the time periods specified above. In addition, for so long as any Securities remain outstanding, the Issuer
shall furnish to the Holders and prospective investors identified by a Holder, upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding the foregoing, the Issuer shall be deemed to have furnished such reports referred to in the first paragraph
of this Section&nbsp;4.02 to the Trustee and the Holders of Securities if the Issuer has filed or furnished such reports with the SEC and such reports are publicly available on the SEC&#146;s website; provided, however, that the Trustee shall have
no obligation whatsoever to determine whether or not such information, documents or reports have been so filed or furnished. Delivery of such reports, information and documents to the Trustee pursuant to this covenant is for informational purposes
only and the Trustee&#146;s receipt of such shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Issuer&#146;s compliance with any of its covenants under this
Indenture (as to which the Trustee is entitled to rely exclusively on Officer&#146;s Certificates). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) So long as any Securities are outstanding, the Issuer shall also:
(1)&nbsp;not later than 10 Business Days after furnishing to the Trustee the annual and quarterly reports required by clauses (i)&nbsp;and (ii)&nbsp;of Section&nbsp;4.02(a), hold a publicly accessible conference call to discuss such reports and the
results of operations for the relevant reporting period (including a question and answer portion of the call); and (2)&nbsp;issue a press release to an internationally recognized wire service no fewer than three Business Days prior to the date of
the conference call required by the foregoing clause (1)&nbsp;of this paragraph, announcing the time and date of such conference call and either including all information necessary to access the call or directing Holders of the Securities,
prospective investors, broker dealers and securities analysts to contact the appropriate person at the Issuer to obtain such information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I></I>At any
time that any of the Issuer&#146;s Subsidiaries that are Significant Subsidiaries are Unrestricted Subsidiaries, then the quarterly and annual financial information required by the first paragraph of this Section&nbsp;4.02 shall include a reasonably
detailed presentation, either on the face of the financial statements or in the footnotes thereto or in the &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations,&#148; of the financial condition and
results of operations of the Issuer and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Issuer, <I>provided</I> that the Issuer will not be required to provide such
separate information to the extent such Unrestricted Subsidiaries are the subject of a confidential filing of a registration statement with the SEC.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything herein to the contrary, the Issuer will not be deemed to have failed to comply with any of its agreements pursuant to
this Section&nbsp;4.02 for purposes of Section&nbsp;6.01(d) until 30 days after the date any report hereunder is required to be filed with the SEC (or otherwise made available to Holders or the Trustee) pursuant to this Section&nbsp;4.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event that the rules and regulations of the SEC permit the Issuer or any direct or indirect parent of the Issuer to report at such
parent entity&#146;s level on a consolidated basis, the Issuer may satisfy its obligations under this Section&nbsp;4.02 by furnishing financial information and reports relating to such parent; provided that the same is accompanied by consolidating
information that explains in reasonable detail the differences between the information relating to such direct or indirect parent and any of its Subsidiaries other than the Issuer and its Subsidiaries, on the one hand, and the information relating
to the Issuer, the Guarantors and the other Subsidiaries of the Issuer on a stand-alone basis, on the other hand. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.03
<U>Limitation on Incurrence of Indebtedness and Issuance of Disqualified Stock and Preferred Stock</U>. (a)&nbsp;(i)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, Incur any
Indebtedness (including Acquired Indebtedness) or issue any shares of Disqualified Stock; and (ii)&nbsp;the Issuer shall not permit any of its Restricted Subsidiaries (other than a Guarantor) to issue any shares of Preferred Stock; <I>provided</I>,
<I>however</I>, that the Issuer and any Restricted Subsidiary may Incur Indebtedness (including Acquired Indebtedness) or issue shares of Disqualified Stock and any Restricted Subsidiary may issue shares of Preferred Stock, in each case if the Fixed
Charge Coverage Ratio of the Issuer for the most recently ended four full fiscal quarters for which internal financial statements are available immediately preceding the date on which such additional Indebtedness is Incurred or such Disqualified
Stock or Preferred Stock is issued would have been at least 2.00 to 1.00 determined on a pro forma basis (including a pro forma application of the net proceeds </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>
</I>therefrom), as if the additional Indebtedness had been Incurred, or the Disqualified Stock or Preferred Stock had been issued, as the case may be, and the application of proceeds therefrom
had occurred at the beginning of such four-quarter period; <I>provided</I>,<I> however</I>, that Indebtedness (including Acquired Indebtedness), Disqualified Stock and Preferred Stock that may be incurred or issued, as applicable, by all
Subsidiaries other than Guarantors pursuant to this paragraph may not, at the time Incurred, exceed the greater of (i)&nbsp;&#128;125.0&nbsp;million and (ii)&nbsp;7.0% of Total Assets at such time.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The limitations set forth in Section&nbsp;4.03(a) shall not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Incurrence by Constellium Holdco II B.V. or any Guarantor organized under the laws of the United States of Indebtedness
under the ABL Facility, in an aggregate principal amount that at the time of incurrence does not exceed the greater of (i)&nbsp;$100.0 million and (ii)&nbsp;the then applicable Borrowing Base, plus the amount necessary to pay any fees and expenses,
including premiums, related in connection with any refinancing, refunding, extension, renewal or replacement of Indebtedness under the ABL Facility; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(ii) the Incurrence by the Issuer or any Guarantor of (A)&nbsp;Indebtedness under Credit Facilities in an aggregate
principal amount that at the time of Incurrence does not exceed the greater of (a)&nbsp;&#128;600.0&nbsp;million plus the amount necessary to pay any fees and expenses, including premiums, in connection with any refinancing, refunding, extension,
renewal or replacement of Indebtedness incurred pursuant to this clause (b)(ii)(A)(a) and (b)&nbsp;an aggregate principal amount that does not cause the Consolidated Secured Net Debt Ratio of the Issuer to exceed 1.50 to 1.00 as of the time of
Incurrence (<I>provided</I> that solely for the purpose of determining compliance with this covenant, any Indebtedness that is Incurred and outstanding or proposed to be Incurred pursuant to this clause (ii)&nbsp;(in the case of unsecured
Indebtedness, to the extent such unsecured Indebtedness has not been reclassified as being Incurred pursuant to another clause of this covenant in accordance with this Indenture), will be deemed to be Secured Indebtedness for purposes of calculating
the Consolidated Secured Net Debt Ratio) and (B)&nbsp;Indebtedness under Credit Facilities incurred to refinance, refund, extend, renew or replace Indebtedness Incurred and outstanding pursuant to clause (b)(ii)(A)(b); provided, however that
(x)&nbsp;any such Indebtedness that is Incurred pursuant to this clause (B)&nbsp;satisfies the requirements of sub-clauses (1)&nbsp;through (4)&nbsp;of clause&nbsp;(xv) of this Section&nbsp;4.03(b) and (y)&nbsp;if the Indebtedness being refinanced
thereby is unsecured, such Indebtedness that is Incurred pursuant to this clause&nbsp;(B) is also unsecured;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii)
the Incurrence by the Issuer and the Guarantors of Indebtedness represented by the Original Securities and the Guarantees; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Indebtedness, Disqualified Stock or Preferred Stock existing and/or committed to on the Issue Date (other than
Indebtedness described in clauses (i), (ii)&nbsp;and (iii)&nbsp;of this Section&nbsp;4.03(b)), but including, for the avoidance of doubt, Indebtedness incurred on the Issue Date in respect of the Issuer&#146;s $400,000,000 8.000% Senior Notes due
2023; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Indebtedness (including Capitalized Lease Obligations) Incurred by the Issuer
or any of its Restricted Subsidiaries, Disqualified Stock issued by the Issuer or any of its Restricted Subsidiaries and Preferred Stock issued by any Restricted Subsidiaries of the Issuer to finance (whether prior to or within 270 days after) the
purchase, lease, construction, repair, replacement or improvement of property (real or personal) (whether through the direct purchase of property or the Capital Stock of any Person owning such property); provided that the aggregate amount of
Indebtedness, Disqualified Stock and Preferred Stock Incurred pursuant to this clause (v)&nbsp;of this Section&nbsp;4.03(b), together with any Refinancing Indebtedness (as defined below) Incurred with respect to such Indebtedness pursuant to clause
(xv)&nbsp;of this Section&nbsp;4.03(b), shall not exceed the greater of (A)&nbsp;&#128;125.0&nbsp;million and (B)&nbsp;7.0% of Total Assets as of the date of any Incurrence pursuant to this clause (v); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Indebtedness Incurred by the Issuer or any of its Restricted Subsidiaries constituting reimbursement obligations with
respect to letters of credit and bank guarantees issued in the ordinary course of business, including without limitation letters of credit in respect of workers&#146; compensation claims, health, disability or other benefits to employees or former
employees or their families or property, casualty or liability insurance or self-insurance, and letters of credit in connection with the maintenance of, or pursuant to the requirements of, environmental or other permits or licenses from governmental
authorities, or other Indebtedness with respect to reimbursement type obligations regarding workers&#146; compensation claims; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Indebtedness arising from agreements of the Issuer or a Restricted Subsidiary providing for indemnification, adjustment
of purchase price or similar obligations, in each case, Incurred in connection with an acquisition or disposition of any business, assets or a Subsidiary of the Issuer in accordance with the terms of this Indenture, other than guarantees of
Indebtedness Incurred by any Person acquiring all or any portion of such business, assets or Subsidiary for the purpose of financing such acquisition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) Indebtedness (other than Secured Indebtedness) of the Issuer to a Restricted Subsidiary; provided that, except in
respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, any such Indebtedness owed to a Restricted Subsidiary that is not a
Guarantor shall be subordinated in right of payment to the obligations of the Issuer under the Securities; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which results in any such Restricted
Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an Incurrence of such Indebtedness; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) shares of Preferred Stock of a Restricted Subsidiary issued to the Issuer or another Restricted Subsidiary; provided that
any subsequent issuance or transfer of any Capital Stock or any other event which results in any Restricted </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Subsidiary that holds such shares of Preferred Stock of another Restricted Subsidiary ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such shares of Preferred Stock
(except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to be an issuance of shares of Preferred Stock; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) Indebtedness (other than Secured Indebtedness) of a Restricted Subsidiary to the Issuer or another Restricted Subsidiary;
provided that, except in respect of intercompany current liabilities incurred in the ordinary course of business in connection with the cash management operations of the Issuer and its Subsidiaries, if a Guarantor incurs such Indebtedness to a
Restricted Subsidiary that is not a Guarantor, such Indebtedness shall be subordinated in right of payment to the Guarantee of such Guarantor; provided, further, that any subsequent issuance or transfer of any Capital Stock or any other event which
results in any Restricted Subsidiary holding such Indebtedness ceasing to be a Restricted Subsidiary or any other subsequent transfer of any such Indebtedness (except to the Issuer or another Restricted Subsidiary) shall be deemed, in each case, to
be an Incurrence of such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) Hedging Obligations that are not incurred for speculative purposes and are
either: (A)&nbsp;for the purpose of fixing or hedging interest rate risk with respect to any Indebtedness that is permitted by the terms of this Indenture to be outstanding; (B)&nbsp;for the purpose of fixing or hedging currency exchange rate risk
with respect to any currency exchanges; (C)&nbsp;for the purpose of fixing or hedging commodity price risk with respect to any commodity purchases or sales or (D)&nbsp;for any combination of the foregoing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) obligations (including reimbursement obligations with respect to letters of credit and bank guarantees) in respect of
performance, bid, appeal and surety bonds and completion guarantees provided by the Issuer or any Restricted Subsidiary in the ordinary course of business or consistent with past practice or industry practice; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary of the Issuer and Preferred Stock of any
Restricted Subsidiary of the Issuer not otherwise permitted hereunder in an aggregate principal amount or liquidation preference, which when aggregated with the principal amount or liquidation preference of all other Indebtedness, Disqualified Stock
and Preferred Stock then outstanding and Incurred pursuant to this clause (xiii), does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and (B)&nbsp;5.5% of Total Assets at the time of Incurrence (it being understood that any Indebtedness
Incurred under this clause (xiii)&nbsp;shall cease to be deemed Incurred or outstanding for purposes of this clause (xiii)&nbsp;but shall be deemed Incurred for purposes of Section&nbsp;4.03(a) from and after the first date on which the Issuer, or
the Restricted Subsidiary, as the case may be, could have Incurred such Indebtedness under Section&nbsp;4.03(a) without reliance upon this clause (xiii)); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) any guarantee by (x)&nbsp;the Issuer or a Guarantor of Indebtedness or
other obligations of the Issuer or any of its Restricted Subsidiaries, or (y)&nbsp;Subsidiary that is not a Guarantor of Indebtedness or other obligations of another Subsidiary that is not a Guarantor, in each case so long as the Incurrence of such
Indebtedness Incurred by the Issuer or such Restricted Subsidiary is permitted under the terms of this Indenture; provided that if such Indebtedness is by its express terms subordinated in right of payment to the Securities or the Guarantee of such
Restricted Subsidiary, as applicable, any such guarantee of such Guarantor with respect to such Indebtedness shall be subordinated in right of payment to such Guarantor&#146;s Guarantee with respect to the Securities substantially to the same extent
as such Indebtedness is subordinated to the Securities or the Guarantee of such Restricted Subsidiary, as applicable; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(xv) the Incurrence by the Issuer or any of its Restricted Subsidiaries of Indebtedness or Disqualified Stock or
Preferred Stock of a Restricted Subsidiary of the Issuer which serves to refund, refinance or defease any Indebtedness Incurred or committed or Disqualified Stock or Preferred Stock issued as permitted under Section&nbsp;4.03(a) and clauses (iii),
(iv), (v), this clause (xv), (xvi), (xx)&nbsp;and (xxi)&nbsp;of this Section&nbsp;4.03(b) or any Indebtedness, Disqualified Stock or Preferred Stock Incurred to so refund, refinance or defease such Indebtedness, Disqualified Stock or Preferred
Stock, including any Indebtedness, Disqualified Stock or Preferred Stock Incurred to pay premiums (including tender premiums), expenses, defeasance costs and fees in connection therewith (subject to the following proviso, &#147;Refinancing
Indebtedness&#148;); <I>provided</I>,<I> however</I>, that such Refinancing Indebtedness:<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) has a Weighted
Average Life to Maturity at the time such Refinancing Indebtedness is Incurred which is not less than the shorter of (x)&nbsp;the remaining Weighted Average Life to Maturity of the Indebtedness, Disqualified Stock or Preferred Stock being refunded,
refinanced or defeased and (y)&nbsp;the Weighted Average Life to Maturity that would result if all payments of principal on the Indebtedness, Disqualified Stock and Preferred Stock being refunded, refinanced or defeased that were due on or after the
date that is one year following the maturity date of any Securities then outstanding were instead due on such date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2)
has a Stated Maturity which is not earlier than the earlier of (x)&nbsp;the Stated Maturity of the Indebtedness being refunded, refinanced or defeased or (y)&nbsp;91 days following the maturity date of the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) to the extent such Refinancing Indebtedness refinances (a)&nbsp;Indebtedness subordinated to the Securities or the
Guarantee of such Restricted Subsidiary, as applicable, such Refinancing Indebtedness is subordinated to the Securities or the Guarantee of such Restricted Subsidiary, as applicable, or (b)&nbsp;Disqualified Stock or Preferred Stock, such
Refinancing Indebtedness is Disqualified Stock or Preferred Stock; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) is Incurred in an aggregate amount (or if issued with original issue
discount, an aggregate issue price) that is equal to or less than the aggregate amount (or if issued with original issue discount, the aggregate accreted value) then outstanding of the Indebtedness being refinanced plus premium, expenses, costs and
fees Incurred in connection with such refinancing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) shall not include (x)&nbsp;Indebtedness of a Restricted Subsidiary
of the Issuer that is not a Guarantor that refinances Indebtedness of the Issuer or a Restricted Subsidiary that is a Guarantor, or (y)&nbsp;Indebtedness of the Issuer or a Restricted Subsidiary that refinances Indebtedness of an Unrestricted
Subsidiary; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) in the case of any Refinancing Indebtedness Incurred to refinance Indebtedness outstanding under
clause&nbsp;(v) of this Section&nbsp;4.03(b), shall be deemed to have been Incurred and to be outstanding under such clause (v)&nbsp;of this Section&nbsp;4.03(b), and not this clause (xv)&nbsp;for purposes of determining amounts outstanding under
such clause (v)&nbsp;of this Section&nbsp;4.03(b); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(xvi) Indebtedness, Disqualified Stock or Preferred Stock of
(x)&nbsp;the Issuer or any of its Restricted Subsidiaries Incurred to finance an acquisition or (y)&nbsp;Persons that are acquired by the Issuer or any of its Restricted Subsidiaries or merged or amalgamated with or into the Issuer or any of its
Restricted Subsidiaries in accordance with the terms of this Indenture; <I>provided</I>,<I> however</I>, that after giving effect to such acquisition, merger or amalgamation, either:<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) (A) the Issuer would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage
Ratio test set forth in the first sentence of Section&nbsp;4.03(a) or (B)&nbsp;the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such acquisition, merger, consolidation or amalgamation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) such Indebtedness, Disqualified Stock or Preferred Stock </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(A) is unsecured Subordinated Indebtedness with subordination terms no more favorable to the Holders thereof than
subordination terms that are customarily obtained in connection with &#147;high-yield&#148; senior subordinated note issuances at the time of Incurrence (<I>provided</I> that, in the case of any such Subordinated Indebtedness incurred by a Foreign
Subsidiary, such subordination terms will be customary for &#147;high-yield&#148; senior subordinated note issuances by issuers resident in the jurisdiction of formation or organization of such Foreign Subsidiary, including, without limitation,
provisions for the automatic release of guarantees upon the release of the Guarantees); <I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) is not Incurred while
a Default exists and no Default shall result therefrom; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) does not mature (and is not mandatorily redeemable in the
case of Disqualified Stock or Preferred Stock) and does not require any payment of principal prior to the final maturity of the Securities; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) Indebtedness Incurred under (A)&nbsp;the Factoring Facilities and
(B)&nbsp;any other Qualified Receivables Financing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) Indebtedness arising from the honoring by a bank or other
financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other cash management services in the ordinary course of business; provided that such Indebtedness is extinguished
within ten Business Days of its Incurrence; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) Indebtedness of the Issuer or any Restricted Subsidiary supported by a
letter of credit or bank guarantee issued pursuant to the Credit Facilities, in a principal amount not in excess of the stated amount of such letter of credit or bank guarantee; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) Indebtedness or Disqualified Stock of the Issuer or any Restricted Subsidiary not otherwise permitted hereunder in an
aggregate principal amount or liquidation preference, together with the aggregate principal amount or liquidation preference of any Refinancing Indebtedness Incurred with respect to such Indebtedness or Disqualified Stock pursuant to clause
(xv)&nbsp;below, not exceeding at any time outstanding 100% of the net cash proceeds received by the Issuer and the Restricted Subsidiaries since immediately after the Issue Date from the issue or sale of Equity Interests of the Issuer or any direct
or indirect parent entity of the Issuer (which proceeds are contributed to the Issuer or a Restricted Subsidiary) or cash contributed to the capital of the Issuer (in each case other than proceeds of Disqualified Stock or sales of Equity Interests
to, or contributions received from, the Issuer or any of its Subsidiaries), as determined in accordance with clauses (B)&nbsp;and (C)&nbsp;of the definition of Cumulative Credit, to the extent such net cash proceeds or cash have not been applied
pursuant to such clauses to make Restricted Payments or to make other Investments, payments or exchanges pursuant to Section&nbsp;4.04(b) of this Indenture or to make Permitted Investments (other than Permitted Investments specified in clauses
(1)&nbsp;and (3)&nbsp;of the definition thereof); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxi) Indebtedness of the Issuer or any Restricted Subsidiary consisting
of (x)&nbsp;the financing of insurance premiums or (y)&nbsp;take-or-pay obligations contained in supply arrangements, in each case, in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxii) Indebtedness arising as a result of implementing composite accounting or other cash pooling arrangements involving
solely the Issuer and the Restricted Subsidiaries or solely among Restricted Subsidiaries and entered into in the ordinary course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxiii) Indebtedness issued by the Issuer or a Restricted Subsidiary to current
or former officers, directors and employees thereof or any direct or indirect parent thereof, or their respective estates, spouses or former spouses, in each case to finance the purchase or redemption of Equity Interests of the Issuer or any of its
direct or indirect parent companies to the extent permitted under Section&nbsp;4.04(b)(iv); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(xxiv) Indebtedness of
Restricted Subsidiaries which are not Guarantors; <I>provided</I>, <I>however</I>, that the aggregate principal amount of Indebtedness Incurred under this clause (xxiv)&nbsp;does not exceed the greater of (A)&nbsp;&#128;100.0&nbsp;million and
(B)&nbsp;5.5% of Total Assets at the time of Incurrence;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxv) Indebtedness incurred on behalf of, or representing
guarantees of Indebtedness of, joint ventures of the Issuer or any Restricted Subsidiary not in excess, at any one time outstanding, of the greater of (A)&nbsp;&#128;50.0&nbsp;million and (B)&nbsp;3.0% of Total Assets at the time that such
Indebtedness is incurred; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xxvi) Indebtedness representing deferred compensation or stock-based compensation to
employees of the Issuer and the Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.03, in the event
that an item of Indebtedness, Disqualified Stock or Preferred Stock meets the criteria of more than one of the categories of permitted Indebtedness, Disqualified Stock or Preferred Stock described in clauses (i)&nbsp;through (xxvi)&nbsp;above or is
entitled to be Incurred pursuant to Section&nbsp;4.03(a), the Issuer shall, in its sole discretion, classify or reclassify, or later divide, classify or reclassify, such item of Indebtedness in any manner that complies with this Section&nbsp;4.03;
provided that all Indebtedness outstanding under the ABL Facility and the Revolving Credit Facility on the Issue Date will be deemed to have been Incurred on such date in reliance on clause (i)&nbsp;and clause (ii), respectively, of this
Section&nbsp;4.03(b) and the Issuer shall not be permitted to reclassify all or any portion of such Indebtedness. The Issuer will also be entitled to treat a portion of any Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred
under Section&nbsp;4.03(a) and thereafter the remainder of such Indebtedness, Disqualified Stock or Preferred Stock as having been Incurred under this Section&nbsp;4.03(b). Accrual of interest, the accretion of accreted value, the payment of
interest in the form of additional Indebtedness with the same terms, the payment of dividends on Preferred Stock in the form of additional shares of Preferred Stock of the same class, accretion of original issue discount or liquidation preference
and increases in the amount of Indebtedness outstanding solely as a result of fluctuations in the exchange rate of currencies shall not be deemed to be an Incurrence of Indebtedness, Disqualified Stock or Preferred Stock for purposes of this
Section&nbsp;4.03. Guarantees of, or obligations in respect of letters of credit relating to, Indebtedness which is otherwise included in the determination of a particular amount of Indebtedness shall not be included in the determination of such
amount of Indebtedness; provided that the Incurrence of the Indebtedness represented by such guarantee or letter of credit, as the case may be, was in compliance with this Section&nbsp;4.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.04 <U>Limitation on Restricted Payments</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries
to, directly or indirectly: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) declare or pay any dividend or make any distribution on account of the Issuer&#146;s or
any of its Restricted Subsidiaries&#146; Equity Interests, including any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
payment made in connection with any merger, amalgamation or consolidation involving the Issuer (other than (A)&nbsp;dividends or distributions by the Issuer payable solely in Equity Interests
(other than Disqualified Stock) of the Issuer; or (B)&nbsp;dividends or distributions by a Restricted Subsidiary so long as, in the case of any dividend or distribution payable on or in respect of any class or series of securities issued by a
Restricted Subsidiary other than a Wholly Owned Restricted Subsidiary, the Issuer or a Restricted Subsidiary receives at least its pro rata share of such dividend or distribution in accordance with its Equity Interests in such class or series of
securities); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) purchase or otherwise acquire or retire for value any Equity Interests of the Issuer or any direct or
indirect parent of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) make any principal payment on, or redeem, repurchase, defease or otherwise acquire or
retire for value, in each case prior to any scheduled repayment or scheduled maturity, any Subordinated Indebtedness of the Issuer or any of its Restricted Subsidiaries (other than the payment, redemption, repurchase, defeasance, acquisition or
retirement of (A)&nbsp;Subordinated Indebtedness in anticipation of satisfying a sinking fund obligation, principal installment or final maturity, in each case due within one year of the date of such payment, redemption, repurchase, defeasance,
acquisition or retirement and (B)&nbsp;Indebtedness permitted under clauses (viii)&nbsp;and (x)&nbsp;of Section&nbsp;4.03(b)); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) make any Restricted Investment </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(all such payments and other actions set forth in clauses (i)&nbsp;through (iv)&nbsp;above being collectively referred to as &#147;Restricted Payments&#148;),
unless, at the time of such Restricted Payment: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) no Default shall have occurred and be continuing or would occur as a
consequence thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) immediately after giving effect to such transaction on a pro forma basis, the Issuer could Incur
$1.00 of additional Indebtedness under Section&nbsp;4.03(a); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) such Restricted Payment, together with the aggregate
amount of all other Restricted Payments made by the Issuer and its Restricted Subsidiaries after the Issue Date (and not returned or rescinded) (including Restricted Payments permitted by clauses (i)&nbsp;and (viii)(b) of Section&nbsp;4.04(b), but
excluding all other Restricted Payments permitted by Section&nbsp;4.04(b)), is less than an amount equal to the Cumulative Credit. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.04(a) shall not prohibit: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the payment of any dividend or distribution within 60 days after the date of declaration thereof, if at the date of
declaration such payment would have complied with the provisions of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) (A) the redemption, repurchase,
retirement or other acquisition of any Equity Interests (&#147;Retired Capital Stock&#148;) of the Issuer or any direct or indirect parent of the Issuer or Subordinated Indebtedness of the Issuer, any direct
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
or indirect parent of the Issuer or any Guarantor in exchange for, or out of the proceeds of, the substantially concurrent sale of, Equity Interests of the Issuer or any direct or indirect parent
of the Issuer or contributions to the equity capital of the Issuer (other than any Disqualified Stock or any Equity Interests sold to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any of
its Subsidiaries) (collectively, including any such contributions, &#147;Refunding Capital Stock&#148;); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the
declaration and payment of dividends on the Retired Capital Stock out of the proceeds of the substantially concurrent sale (other than to a Subsidiary of the Issuer or to an employee stock ownership plan or any trust established by the Issuer or any
of its Subsidiaries) of Refunding Capital Stock; and if immediately prior to the retirement of Retired Capital Stock, the declaration and payment of dividends thereon was permitted under Section&nbsp;4.04(b)(vi) and not made pursuant to this
Section&nbsp;4.04(b)(ii)(B), the declaration and payment of dividends on the Refunding Capital Stock (other than Refunding Capital Stock the proceeds of which were used to redeem, repurchase, retire or otherwise acquire any Equity Interests of any
direct or indirect parent of the Issuer) in an aggregate amount per year no greater than the aggregate amount of dividends per annum that were declarable and payable on such Retired Capital Stock immediately prior to such retirement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the redemption, repurchase, defeasance or other acquisition or retirement of Subordinated Indebtedness of the Issuer or
any Guarantor made by exchange for, or out of the proceeds of the substantially concurrent sale (or as promptly as practicable after giving any requisite notice to the holders of such Subordinated Indebtedness) of, new Indebtedness of the Issuer or
a Guarantor which is Incurred in accordance with Section&nbsp;4.03 so long as </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the principal amount (or accreted
value, if applicable) of such new Indebtedness does not exceed the principal amount (or accreted value, if applicable), plus any accrued and unpaid interest of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or
retired for value (plus the amount of any premium required to be paid under the terms of the instrument governing the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired plus any tender premiums, defeasance costs
or other fees and expenses incurred in connection therewith), </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) such Indebtedness is subordinated to the Securities or
the related Guarantee, as the case may be, at least to the same extent as such Subordinated Indebtedness so purchased, exchanged, redeemed, repurchased, defeased, acquired or retired for value, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) such Indebtedness has a final scheduled maturity date equal to or later than the earlier of (x)&nbsp;the final scheduled
maturity date of the Subordinated Indebtedness being so redeemed, repurchased, acquired or retired or (y)&nbsp;91 days following the maturity date of the Securities, and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) such Indebtedness has a Weighted Average Life to Maturity at the time
Incurred which is not less than the shorter of (x)&nbsp;the remaining Weighted Average Life to Maturity of the Subordinated Indebtedness being so redeemed, repurchased, defeased, acquired or retired and (y)&nbsp;the Weighted Average Life to Maturity
that would result if all payments of principal on the Indebtedness being so redeemed, repurchased, defeased, acquired or retired that were due on or after the date one year following the maturity date of any Securities then outstanding were instead
due on such date one year following the maturity date of such Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(iv) the repurchase, retirement or other
acquisition (or dividends to any direct or indirect parent of the Issuer to finance any such repurchase, retirement or other acquisition) for value of Equity Interests of the Issuer or any direct or indirect parent of the Issuer held by any future,
present or former employee, director or consultant of the Issuer or any direct or indirect parent of the Issuer or any Subsidiary of the Issuer pursuant to any management equity plan or stock option plan or any other management or employee benefit
plan or other agreement or arrangement; <I>provided</I>,<I> however</I>, that the aggregate amounts paid under this clause (iv)&nbsp;do not exceed &#128;15.0&nbsp;million in any calendar year (with unused amounts in any calendar year being permitted
to be carried over for the two succeeding calendar years); <I>provided, further, however</I>, that such amount in any calendar year may be increased by an amount not to exceed:<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the cash proceeds received by the Issuer or any of its Restricted Subsidiaries from the sale of Equity Interests (other
than Disqualified Stock) of the Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) to members of management, directors or consultants of the Issuer and its Restricted Subsidiaries or any direct or
indirect parent of the Issuer that occurs after the Issue Date (provided that the amount of such cash proceeds utilized for any such repurchase, retirement, other acquisition or dividend shall not increase the amount available for Restricted
Payments under Section&nbsp;4.04(a)(3)); plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the cash proceeds of key man life insurance policies received by the
Issuer or any direct or indirect parent of the Issuer (to the extent contributed to the Issuer) or the Issuer&#146;s Restricted Subsidiaries after the Issue Date; less </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the amount of any Restricted Payments previously made pursuant to Section&nbsp;4.04(b)(iv)(A) and
Section&nbsp;4.04(b)(iv)(B) </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><I>provided</I> that the Issuer may elect to apply all or any portion of the aggregate increase contemplated
by clauses (A)&nbsp;and (B)&nbsp;above in any calendar year; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the declaration and payment of dividends or distributions
to holders of any class or series of Disqualified Stock of the Issuer or any of its Restricted Subsidiaries issued or incurred in accordance with Section&nbsp;4.03; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(vi) (a) the declaration and payment of dividends or distributions to
holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date, (b)&nbsp;a Restricted Payment to any direct or indirect parent of the Issuer, the proceeds of which will be used to fund the
payment of dividends to holders of any class or series of Designated Preferred Stock (other than Disqualified Stock) of any direct or indirect parent of the Issuer issued after the Issue Date and (c)&nbsp;the declaration and payment of dividends on
Refunding Capital Stock that is Preferred Stock in excess of the dividends declarable and payable thereon pursuant to Section&nbsp;4.04(b)(ii); <I>provided</I>,<I> however</I>, that, (x)&nbsp;for the most recently ended four full fiscal quarters for
which internal financial statements are available immediately preceding the date of issuance of such Designated Preferred Stock or Refunding Capital Stock, after giving effect to such issuance (and the payment of dividends or distributions) on a pro
forma basis, the Issuer would have had a Fixed Charge Coverage Ratio of at least 2.00 to 1.00 and (y)&nbsp;the aggregate amount of dividends declared and paid pursuant to subclauses (a)&nbsp;and (b)&nbsp;of this clause (vi)&nbsp;does not exceed the
net cash proceeds actually received by the Issuer from any such sale of Designated Preferred Stock (other than Disqualified Stock) issued after the Issue Date;<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Investments in Unrestricted Subsidiaries and joint ventures having an aggregate Fair Market Value, taken together with
all other Investments made pursuant to this clause (vii)&nbsp;that are at that time outstanding, not to exceed the greater of (a)&nbsp;&#128;50.0&nbsp;million and (b)&nbsp;2.5% of Total Assets at the time of such Investment (with the Fair Market
Value of each Investment being measured at the time made and without giving effect to subsequent changes in value); provided that the amount of Investments deemed to have been made pursuant to this clause (vii)&nbsp;at any time shall be reduced by
the Fair Market Value of the proceeds received by the Issuer and/or the Restricted Subsidiaries from the subsequent sale, disposition or other transfer of such Investments without giving effect to subsequent changes in value; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the payment of dividends on the Issuer&#146;s common stock in an aggregate amount per calendar year not to exceed the
sum of (a)&nbsp;&#128;20.0&nbsp;million, plus (b)&nbsp;6.0% of the net proceeds received after the Issue Date (including, without limitation, contributions to the Issuer with the proceeds of sales of common stock of any direct or indirect parent) by
the Issuer from any public offering of common stock of the Issuer or any direct or indirect parent of the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix)
Restricted Payments that are made with Excluded Contributions; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) (a) Restricted Payments pursuant to clauses (i),
(ii)&nbsp;and (iii)&nbsp;of Section&nbsp;4.04(a) hereof after the Issue Date and (b)&nbsp;Restricted Payments pursuant to clause (iv)&nbsp;of Section&nbsp;4.04(a) hereof at any time outstanding in an aggregate amount pursuant to this clause
(x)&nbsp;not to exceed &#128;100.0 million; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the distribution, as a dividend or otherwise, of shares of Capital Stock
of, or Indebtedness owed to the Issuer or a Restricted Subsidiary of the Issuer by, Unrestricted Subsidiaries; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) the payment of dividends or other distributions to any direct or indirect
parent of the Issuer in amounts required for such parent to pay federal, state or local income taxes (or other applicable political subdivision, as the case may be) imposed directly on such parent to the extent such income taxes are attributable to
the income of the Issuer and its Subsidiaries (including, without limitation, by virtue of such parent being the common parent of a consolidated or combined tax group of which the Issuer and/or its Subsidiaries are members); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) repurchases of Equity Interests deemed to occur upon exercise of stock options or warrants if such Equity Interests
represent a portion of the exercise price of such options or warrants; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) purchases of receivables pursuant to a
Receivables Repurchase Obligation in connection with a Qualified Receivables Financing and the payment or distribution of Receivables Fees; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) payments of cash, or dividends, distributions or advances by the Issuer or any Restricted Subsidiary to allow the payment
of cash in lieu of the issuance of fractional shares upon the exercise of options or warrants or upon the conversion or exchange of Capital Stock of any such Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) the repurchase, redemption or other acquisition or retirement for value of any Subordinated Indebtedness pursuant to the
provisions similar to those described under Sections 4.06 and 4.08; provided that all Securities tendered in connection with a Change of Control Offer or Asset Sale Offer, as applicable, have been repurchased, redeemed or acquired for value; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) payments or distributions to dissenting stockholders pursuant to applicable law or in connection with a consolidation,
amalgamation, merger or transfer of all or substantially all of the assets of the Issuer and its Restricted Subsidiaries, taken as a whole, that complies with Article 5 of this Indenture; provided that as a result of such consolidation,
amalgamation, merger or transfer of assets, the Issuer shall have made a Change of Control Offer (if required by this Indenture) and that all Securities tendered in connection with such Change of Control Offer have been repurchased, redeemed or
acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) other Restricted Payments; provided that Restricted Payments may only be made pursuant to this
clause&nbsp;(xviii) at such time as the Consolidated Net Debt Ratio of the Issuer and its Restricted Subsidiaries, on a pro forma basis after giving effect to such Restricted Payments, is less than 2.00 to 1.00; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) the payment of any Restricted Payment, if applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) in amounts required for any direct or indirect parent of the Issuer, if applicable, (i)&nbsp;to pay fees and expenses
(including franchise or similar taxes) required to maintain its corporate existence and its status as a public company, customary salary, bonus and other benefits payable to, and indemnities provided on behalf of, officers and employees of any
direct or indirect parent of the Issuer, if applicable, and general corporate overhead expenses of any direct or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
indirect parent of the Issuer, if applicable, in each case to the extent such fees and expenses are attributable to the ownership or operation of the Issuer, if applicable, and its Subsidiaries
and (ii)&nbsp;to pay tax liabilities incurred as a result of transactions that occurred prior to the Issue Date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) in
amounts required for any direct or indirect parent of the Issuer, if applicable, to pay interest and/or principal on Indebtedness the proceeds of which have been contributed to the Issuer or any of its Restricted Subsidiaries and that has been
guaranteed by, or is otherwise considered Indebtedness of, the Issuer Incurred in accordance with Section&nbsp;4.03; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in amounts required for any direct or indirect parent of the Issuer to pay fees and expenses, other than to Affiliates of
the Issuer, related to any unsuccessful equity or debt offering of such parent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>provided</I>,<I> however</I>, that at the time of, and after giving
effect to, any Restricted Payment permitted under clauses (vi), (vii), (x), (xi)&nbsp;and (xviii)&nbsp;of this Section&nbsp;4.04(b), no Default shall have occurred and be continuing or would occur as a consequence thereof.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The amount of any Restricted Payment (other than cash) will be the Fair Market Value on the date of the Restricted Payment
of the asset(s) or securities proposed to be transferred or issued by the Issuer or such Subsidiary, as the case may be, pursuant to the Restricted Payment. Except as otherwise provided herein, the Fair Market Value of any assets or securities that
are required to be valued by this Section&nbsp;4.04 will be determined in good faith by the Issuer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) As of the Issue
Date, all of the Issuer&#146;s Subsidiaries shall be Restricted Subsidiaries other than Quiver Ventures, LLC and Constellium Engley (Changchun) Automotive Structures Co Ltd. The Issuer shall not permit any Unrestricted Subsidiary to become a
Restricted Subsidiary except pursuant to the definition of &#147;Unrestricted Subsidiary.&#148; For purposes of designating any Restricted Subsidiary as an Unrestricted Subsidiary, all outstanding Investments by the Issuer and its Restricted
Subsidiaries (except to the extent repaid) in the Subsidiary so designated shall be deemed to be Restricted Payments in an amount determined as set forth in the last sentence of the definition of &#147;Investments.&#148; Such designation shall only
be permitted if a Restricted Payment in such amount would be permitted at such time and if such Subsidiary otherwise meets the definition of an Unrestricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.05 <U>Dividend and Other Payment Restrictions Affecting Subsidiaries</U>. The Issuer shall not, and shall not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or consensual restriction on the ability of any Restricted Subsidiary to pay dividends or make any other
distributions to the Issuer or any of its Restricted Subsidiaries (a)&nbsp;on its Capital Stock, or (b)&nbsp;with respect to any other interest or participation in, or measured by, its profits; except in each case for such encumbrances or
restrictions existing under or by reason of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) contractual encumbrances or restrictions in effect on the Issue Date,
including pursuant to the Credit Facilities and the related documentation in effect on the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Issue Date and in each case, any similar contractual encumbrances effected by any amendments, modifications, restatements, renewals, supplements, refundings, replacements or refinancings of such
agreements or instruments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) this Indenture, the Securities and the Guarantees and the Issuer&#146;s $400,000,000 8.000%
Senior Notes due 2023 and the indenture relating thereto and the guarantees in respect thereof (in each case, as in effect on the Issue Date); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) applicable law or any applicable rule, regulation or order; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) any agreement or other instrument of a Person acquired by the Issuer or any Restricted Subsidiary which was in existence at
the time of such acquisition (but not created in contemplation thereof or to provide all or any portion of the funds or credit support utilized to consummate such acquisition), which encumbrance or restriction is not applicable to any Person, or the
properties or assets of any Person, other than the Person or its Subsidiaries, or the property or assets of the Person or its Subsidiaries, so acquired; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) contracts or agreements for the sale of assets, including any restriction with respect to a Restricted Subsidiary imposed
pursuant to an agreement entered into for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Secured Indebtedness otherwise permitted to be Incurred pursuant to Sections 4.03 and 4.12 that limit the right of the
debtor to dispose of the assets securing such Indebtedness; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) restrictions on cash or other deposits or net worth
imposed by customers under contracts entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) customary provisions in joint
venture agreements and other similar agreements entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) purchase money
obligations and Capitalized Lease Obligations for property acquired or leased in the ordinary course of business that impose restrictions on the property so acquired or leased; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) customary provisions contained in leases, licenses and other similar agreements entered into in the ordinary course of
business that impose restrictions on the property subject to such lease; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) any encumbrance or restriction effected in
connection with (A)&nbsp;a Factoring Facility (provided that such encumbrance or restriction (i)&nbsp;exists on the date hereof or (ii)&nbsp;is in the good faith determination of the Issuer (x)&nbsp;necessary or advisable to effect such Receivables
Financing and applies only to the relevant Subsidiaries to which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring Facilities in effect on the date
hereof) or (B)&nbsp;a Qualified Receivables Financing; provided, however, that in the case of this clause (B), such encumbrances or restrictions (i)&nbsp;apply only to a Receivables Subsidiary or (ii)&nbsp;are in the good faith determination of the
Issuer (x)&nbsp;necessary or advisable to effect such Qualified Receivables Financing and applicable only to the relevant Subsidiaries to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
which such Receivables Financing is made available or (y)&nbsp;not materially more burdensome than the encumbrances and restrictions under the Factoring Facilities in effect on the date hereof;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) (A) other Indebtedness or Disqualified Stock of the Issuer or any of its Restricted Subsidiaries, or
(B)&nbsp;Preferred Stock of any Restricted Subsidiary, in each case that is Incurred subsequent to the Issue Date pursuant to Section&nbsp;4.03; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) any Restricted Investment not prohibited by Section&nbsp;4.04 and any Permitted Investment; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) any encumbrances or restrictions in the Wise ABL Facility and related documentation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(o) any encumbrances or restrictions of the type referred to in clauses (a)&nbsp;and (b)&nbsp;above imposed by any
amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings of the contracts, instruments or obligations referred to in clauses (a)&nbsp;through (n)&nbsp;above; <I>provided</I> that such
amendments, modifications, restatements, renewals, increases, supplements, refundings, replacements or refinancings are, in the good faith judgment of the Issuer, no more restrictive with respect to such encumbrances and other restrictions than
those contained in the encumbrances or other restrictions prior to such amendment, modification, restatement, renewal, increase, supplement, refunding, replacement or refinancing.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining compliance with this Section&nbsp;4.05, (i)&nbsp;the priority of any Preferred Stock in receiving dividends or
liquidating distributions prior to dividends or liquidating distributions being paid on common stock shall not be deemed a restriction on the ability to make distributions on Capital Stock and (ii)&nbsp;the subordination of loans or advances made to
the Issuer or a Restricted Subsidiary of the Issuer to other Indebtedness Incurred by the Issuer or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.06 <U>Asset Sales</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to, cause or make an
Asset Sale, unless (x)&nbsp;the Issuer or any of its Restricted Subsidiaries, as the case may be, receives consideration at the time of such Asset Sale at least equal to the Fair Market Value (as determined in good faith by the Issuer) of the assets
sold or otherwise disposed of, and (y)&nbsp;at least 75% of the consideration therefor received by the Issuer or such Restricted Subsidiary, as the case may be, is in the form of cash or Cash Equivalents; provided that the amount of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any liabilities (as shown on the Issuer&#146;s or such Restricted Subsidiary&#146;s most recent balance sheet or in the
notes thereto) of the Issuer or any Restricted Subsidiary of the Issuer (other than liabilities that are by their terms subordinated to the Securities or any Guarantee) that are assumed by the transferee of any such assets, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) any notes or other obligations or other securities or assets received by the Issuer or such Restricted Subsidiary of the
Issuer from such transferee that are converted by the Issuer or such Restricted Subsidiary of the Issuer into cash within 180 days of the receipt thereof (to the extent of the cash received), and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) any Designated Non-cash Consideration received by the Issuer or any of its
Restricted Subsidiaries in such Asset Sale having an aggregate Fair Market Value (as determined in good faith by the Issuer), taken together with all other Designated Non-cash Consideration received pursuant to this clause (iii)&nbsp;that is at that
time outstanding, not to exceed the greater of 2.0% of Total Assets and &#128;35.0&nbsp;million at the time of the receipt of such Designated Non-cash Consideration (with the Fair Market Value of each item of Designated Non-cash Consideration being
measured at the time received and without giving effect to subsequent changes in value) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">shall be deemed to be Cash Equivalents for the purposes of this
Section&nbsp;4.06(a). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 15 months after the Issuer&#146;s or any Restricted Subsidiary of the Issuer&#146;s
receipt of the Net Proceeds of any Asset Sale, the Issuer or such Restricted Subsidiary of the Issuer may apply the Net Proceeds from such Asset Sale, at its option: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(i) to repay Indebtedness constituting Credit Facilities or Secured Indebtedness (and, if the Indebtedness repaid is
revolving credit Indebtedness, to correspondingly reduce commitments with respect thereto), Pari Passu Indebtedness (<I>provided</I> that if the Issuer or any Guarantor shall so reduce Obligations under Pari Passu Indebtedness (other than Credit
Facilities or Secured Indebtedness), the Issuer shall make an offer to all Holders of the Securities to equally and ratably reduce a pro rata principal amount of the Securities through a repurchase offer (in accordance with the procedures set forth
below for an Asset Sale Offer) at a purchase price equal to or greater than (in the Issuer&#146;s sole discretion) 100% of the principal amount thereof, plus accrued and unpaid interest, if any) or Indebtedness of a Restricted Subsidiary that is not
a Guarantor, in each case other than Indebtedness owed to the Issuer or an Affiliate of the Issuer,<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to make an
investment in any one or more businesses (provided that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), assets, or property
or capital expenditures, in each case used or useful in a Similar Business, or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to make an investment in any one or
more businesses (provided that if such investment is in the form of the acquisition of Capital Stock of a Person, such acquisition results in such Person becoming a Restricted Subsidiary of the Issuer), properties or assets that replace the
properties and assets that are the subject of such Asset Sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the case of Sections 4.06(b)(ii) and (iii), a binding commitment shall
be treated as a permitted application of the Net Proceeds from the date of such commitment; provided that in the event such binding commitment is later canceled or terminated for any reason before such Net Proceeds are so applied, the Issuer or such
Restricted Subsidiary enters into another binding </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>
</I>commitment within nine months of such cancellation or termination of the prior binding commitment; <I>provided</I>, <I>further</I> that the Issuer or such Restricted Subsidiary may only enter
into such a commitment under the foregoing provision one time with respect to each Asset Sale.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pending the final application of
any such Net Proceeds, the Issuer or such Restricted Subsidiary of the Issuer may temporarily reduce Indebtedness under a revolving credit facility, if any, or otherwise invest such Net Proceeds in any manner not otherwise prohibited by this
Indenture. Any Net Proceeds from any Asset Sale that are not applied as provided and within the time period set forth in the first sentence of this Section&nbsp;4.06(b) (it being understood that any portion of such Net Proceeds used to make an offer
to purchase Securities, as described in clause (i)&nbsp;of this Section&nbsp;4.06(b), shall be deemed to have been invested per Section&nbsp;4.06(b), whether or not such offer is accepted) shall be deemed to constitute &#147;Excess Proceeds.&#148;
When the aggregate amount of Excess Proceeds exceeds &#128;15.0&nbsp;million, the Issuer shall make an offer to all Holders of Securities (and, at the option of the Issuer, to holders of any Pari Passu Indebtedness) (an &#147;Asset Sale Offer&#148;)
to purchase the maximum aggregate principal amount of Securities (and such Pari Passu Indebtedness), that is at least &#128;100,000 and an integral multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at an offer
price in cash in an amount equal to 100% of the principal amount thereof (or, in the event such Pari Passu Indebtedness was issued with significant original issue discount, 100% of the accreted value thereof), plus accrued and unpaid interest, if
any (or, in respect of such Pari Passu Indebtedness, such lesser price, if any, as may be provided for by the terms of such Pari Passu Indebtedness), to the date fixed for the closing of such offer, in accordance with the procedures set forth in
this Indenture. The Issuer shall commence an Asset Sale Offer with respect to Excess Proceeds within 10 Business Days after the date that Excess Proceeds exceeds &#128;15.0&nbsp;million by electronically delivering or mailing the notice required
pursuant to the terms of Section&nbsp;4.06(f), with a copy to the Trustee and paying agent. To the extent that the aggregate amount of Securities (and such Pari Passu Indebtedness) tendered pursuant to an Asset Sale Offer is less than the Excess
Proceeds, the Issuer may use any remaining Excess Proceeds for general corporate purposes. If the aggregate principal amount of Securities (and such Pari Passu Indebtedness) surrendered by Holders of such Securities (and holders of such Pari Passu
Indebtedness) thereof exceeds the amount of Excess Proceeds, the Registrar shall select the Securities to be purchased in the manner described in Section&nbsp;4.06(e). Upon completion of any such Asset Sale Offer, the amount of Excess Proceeds shall
be reset at zero. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) To the extent that the provisions of any securities laws or regulations conflict with the provisions
of this Indenture, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its obligations described in this Indenture by virtue thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Not later than the date upon which written notice of an Asset Sale Offer is delivered to the Trustee as provided above, the
Issuer shall deliver to the Trustee an Officer&#146;s Certificate as to (i)&nbsp;the amount of the Excess Proceeds, (ii)&nbsp;the allocation of the Net Proceeds from the Asset Sales pursuant to which such Asset Sale Offer is being made and
(iii)&nbsp;the compliance of such allocation with the provisions of Section&nbsp;4.06(b). On such date, the Issuer shall also irrevocably deposit with the Trustee or with a paying agent (or, if the Issuer or a Wholly Owned Restricted Subsidiary is
acting as the paying agent, segregate and hold in trust) an amount equal to the Excess Proceeds to be invested in Cash Equivalents, as directed in writing by the Issuer, and to be held for payment in
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
accordance with the provisions of this Section&nbsp;4.06. Upon the expiration of the period for which the Asset Sale Offer remains open (the &#147;Offer Period&#148;), the Issuer shall deliver to
the Trustee for cancellation the Securities or portions thereof that have been properly tendered to and are to be accepted by the Issuer. The Trustee (or the paying agent, if not the Trustee) shall, on the date of purchase, mail or deliver payment
to each tendering Holder in the amount of the purchase price. In the event that the Excess Proceeds delivered by the Issuer to the Trustee are greater than the purchase price of the Securities tendered, the Trustee shall deliver the excess to the
Issuer immediately after the expiration of the Offer Period for application in accordance with Section&nbsp;4.06. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e)
Holders electing to have a Security purchased shall be required to surrender the Security, with an appropriate form duly completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. Holders
shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day prior to the purchase date, a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the
Security which was delivered by the Holder for purchase and a statement that such Holder is withdrawing his election to have such Security purchased. If at the end of the Offer Period more Securities (and such Pari Passu Indebtedness) are tendered
pursuant to an Asset Sale Offer than the Issuer is required to purchase, selection of such Securities for purchase shall be made by the Registrar pro rata, by lot or such other manner in the case of Global Securities, as may be required by the
applicable procedures of Euroclear and/or Clearstream; provided that no Securities of &#128;100,000 or less shall be purchased in part. Selection of such Pari Passu Indebtedness shall be made pursuant to the terms of such Pari Passu Indebtedness.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notices of an Asset Sale Offer shall be electronically delivered or mailed by first class mail, postage prepaid by the
Issuer, at least 30 but not more than 60 days before the purchase date to each Holder of Securities at such Holder&#146;s registered address. If any Security is to be purchased in part only, any notice of purchase that relates to such Security shall
state the portion of the principal amount thereof that has been or is to be purchased. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The provisions under this
Indenture relating to the Issuer&#146;s obligation to make an Asset Sale Offer may be waived or modified with the written consent of Holders of a majority in principal amount of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.07 <U>Transactions with Affiliates</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted Subsidiaries to,
directly or indirectly, make any payment to, or sell, lease, transfer or otherwise dispose of any of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of transactions,
contract, agreement, understanding, loan, advance or guarantee with, or for the benefit of, any Affiliate of the Issuer (each of the foregoing, an &#147;Affiliate Transaction&#148;) involving aggregate consideration in excess of
&#128;10.0&nbsp;million, unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) such Affiliate Transaction is on terms that are not materially less favorable to the
Issuer or the relevant Restricted Subsidiary than those that could have been obtained in a comparable transaction by the Issuer or such Restricted Subsidiary with an unrelated Person; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) with respect to any Affiliate Transaction or series of related Affiliate
Transactions involving aggregate consideration in excess of &#128;25.0&nbsp;million (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially limited to the sale of inventory), the Issuer delivers to the Trustee
an Officer&#146;s Certificate certifying that such Affiliate Transaction complies with clause (i)&nbsp;above; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) with
respect to any Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of &#128;50.0&nbsp;million (excluding any Affiliate Transaction or series of related Affiliate Transactions substantially
limited to the sale of inventory), the Issuer delivers to the Trustee a resolution adopted in good faith by the majority of the Board of Directors of the Issuer, approving such Affiliate Transaction and set forth in an Officer&#146;s Certificate
certifying that such Affiliate Transaction complies with clause (i)&nbsp;above. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.07(a)
shall not apply to the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) transactions between or among the Issuer and/or any of its Restricted Subsidiaries
(or an entity that becomes a Restricted Subsidiary as a result of such transaction) and any merger, consolidation or amalgamation of the Issuer and any direct parent of the Issuer; provided that at the time of such merger, consolidation or
amalgamation such parent shall have no material liabilities and no material assets other than cash, Cash Equivalents and the Capital Stock of the Issuer and such merger, consolidation or amalgamation is otherwise in compliance with the terms of this
Indenture and effected for a bona fide business purpose; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Restricted Payments permitted by Section&nbsp;4.04 and
Permitted Investments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the payment of reasonable and customary fees and reimbursement of expenses paid to, and
indemnity provided on behalf of, officers, directors, employees or consultants of the Issuer or any Restricted Subsidiary or any direct or indirect parent of the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) transactions in which the Issuer or any of its Restricted Subsidiaries, as the case may be, delivered to the Trustee a
letter from an Independent Financial Advisor stating that such transaction is fair to the Issuer or such Restricted Subsidiary from a financial point of view or meets the requirements of clause (i)&nbsp;of Section&nbsp;4.07(a); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) payments or loans (or cancellation of loans) to directors, officers, employees or consultants which are approved by a
majority of the Board of Directors of the Issuer in good faith; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) any agreement as in effect as of the Issue Date or any amendment thereto (so
long as any such agreement together with all amendments thereto, taken as a whole, is not more disadvantageous to the Holders of the Securities in any material respect than the original agreement as in effect on the Issue Date) or any transaction
contemplated thereby as determined in good faith by the Issuer; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(vii) the existence of, or the performance by the
Issuer or any of its Restricted Subsidiaries of its obligations under the terms of, any stockholders agreement (including any registration rights agreement or purchase agreement related thereto) to which it is a party as of the Issue Date and any
transaction, agreement or arrangement in effect on the Issue Date and described in the Offering Memorandum (or the documents incorporated by reference therein) and, in each case, any amendment thereto or similar transactions, agreements or
arrangements which it may enter into thereafter; <I>provided</I>,<I> however</I>, that the existence of, or the performance by the Issuer or any of its Restricted Subsidiaries of its obligations under, any future amendment to any such existing
transaction, agreement or arrangement or under any similar transaction, agreement or arrangement entered into after the Issue Date shall only be permitted by this clause (vii)&nbsp;to the extent that the terms of any such existing transaction,
agreement or arrangement together with all amendments thereto, taken as a whole, or new transaction, agreement or arrangement are not otherwise more disadvantageous to the Holders of the Securities in any material respect than the original
transaction, agreement or arrangement as in effect on the Issue Date;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) (A) transactions with customers,
clients, suppliers or purchasers or sellers of goods or services, or transactions otherwise relating to the purchase or sale of goods or services, in each case in the ordinary course of business and otherwise in compliance with the terms of this
Indenture, which are fair to the Issuer and its Restricted Subsidiaries in the reasonable determination of the Issuer, or are on terms at least as favorable as might reasonably have been obtained at such time from an unaffiliated party or
(B)&nbsp;transactions with joint ventures or Unrestricted Subsidiaries entered into in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) any transaction effected as part of a Factoring Facility or a Qualified Receivables Financing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) the issuance of Equity Interests (other than Disqualified Stock) of the Issuer to any Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) the issuances of securities or other payments, loans (or cancellation of loans), awards or grants in cash, securities or
otherwise pursuant to, or the funding of, employment arrangements, stock option and stock ownership plans or similar employee benefit plans approved by the Board of Directors of the Issuer or any direct or indirect parent of the Issuer or of a
Restricted Subsidiary of the Issuer, as appropriate, in good faith; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) transactions permitted by, and complying with,
Sections 4.06 and/or 5.01; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(xiii) transactions between the Issuer or any of its Restricted
Subsidiaries and any Person, a director of which is also a director of the Issuer; <I>provided</I>,<I> however</I>, that such director abstains from voting as a director of the Issuer or such direct or indirect parent, as the case may be, on any
matter involving such other Person;<I> </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) pledges of Equity Interests of Unrestricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the provision to Unrestricted Subsidiaries of cash management, accounting and other overhead services in the ordinary
course of business undertaken in good faith and not for the purpose of circumventing any covenant set forth in this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) any employment agreements entered into by the Issuer or any of its Restricted Subsidiaries in the ordinary course of
business, and any termination of employment agreements and payments in connection therewith at the net present value of future payments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) intercompany transactions undertaken in good faith for the purpose of improving the consolidated tax efficiency of the
Issuer and its Subsidiaries and not for the purpose of circumventing any covenant set forth in this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) the
entering into of any tax sharing agreement or arrangement providing for, and the making of, any payments permitted by Section&nbsp;4.04(b)(xii); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xix) (A) payments made to the Issuer or any of its Restricted Subsidiaries by Quiver Ventures, LLC in connection with tax
sharing arrangements and (B)&nbsp;any repayments or reimbursements by the Issuer or any of its Restricted Subsidiaries to Quiver Ventures, LLC to the extent that amounts paid thereby pursuant to clause (A)&nbsp;are in excess of the ultimate tax
liability attributable thereto, in each case consistent with past practice of the Issuer and its Restricted Subsidiaries for other consolidated groups; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xx) any agreements or arrangements between a third party and an Affiliate of the Issuer that are acquired or assumed by the
Issuer or any Restricted Subsidiary in connection with an acquisition or merger of such third party (or assets of such third party) by or with the Issuer or any Restricted Subsidiary; provided that (A)&nbsp;such acquisition or merger is permitted
under this Indenture and (B)&nbsp;such agreements or arrangements are not entered into in contemplation of such acquisition or merger or otherwise for the purpose of avoiding the restrictions imposed by this section. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.08 <U>Change of Control</U>. (a)&nbsp;Upon a Change of Control, each Holder shall have the right to require the Issuer to repurchase
all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of Holders of record on the
relevant record date to receive interest due on the relevant interest payment date), in accordance with the terms contemplated in this Section&nbsp;4.08; <I>provided</I>, <I>however</I>, that notwithstanding the occurrence of a Change of Control,
the Issuer shall not be obligated to purchase any Securities pursuant to this Section&nbsp;4.08 in the event that it has exercised its right to redeem such Securities in accordance with Article 3 of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Within 30 days following any Change of Control, except to the extent that the
Issuer has exercised its right to redeem the Securities in accordance with Article 3 of this Indenture, the Issuer shall electronically deliver or mail a notice (a &#147;Change of Control Offer&#148;) to each Holder with a copy to the Trustee and
paying agent stating: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) that a Change of Control has occurred and that such Holder has the right to require the Issuer
to repurchase such Holder&#146;s Securities at a repurchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject to the right of the Holders of record on a record
date to receive interest on the relevant interest payment date); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the circumstances and relevant facts and financial
information regarding such Change of Control; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the repurchase date (which shall be no earlier than 30 days nor later
than 60 days from the date such notice is electronically delivered or mailed, except that such notice may provide that, if the Change of Control does not occur on the repurchase date so designated, then the repurchase date may be delayed until such
time as the applicable Change of Control shall occur); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the instructions determined by the Issuer, consistent with
this Section&nbsp;4.08, that a Holder must follow in order to have its Securities purchased; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if such notice is
electronically delivered or mailed prior to the occurrence of a Change of Control pursuant to a definitive agreement for the Change of Control, that such offer is conditioned on the occurrence of such Change of Control. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Holders electing to have a Security purchased shall be required to surrender the Security, with an appropriate form duly
completed, to the Issuer at the address specified in the notice at least three Business Days prior to the purchase date. The Holders shall be entitled to withdraw their election if the Trustee or the Issuer receives not later than one Business Day
prior to the purchase date a facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered for purchase by the Holder and a statement that such Holder is withdrawing his election to
have such Security purchased. Holders whose Securities are purchased only in part shall be issued new Securities equal in principal amount to the unpurchased portion of the Securities surrendered. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the purchase date, all Securities purchased by the Issuer under this Section&nbsp;4.08 shall be delivered to the Trustee
for cancellation, and the Issuer shall pay the purchase price plus accrued and unpaid interest to the Holders entitled thereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) For the avoidance of doubt, a Change of Control Offer may be made in advance
of a Change of Control, and be conditional upon such Change of Control, if a definitive agreement is in place in respect of the Change of Control at the time of making of the Change of Control Offer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the foregoing provisions of this Section&nbsp;4.08, the Issuer shall not be required to make a Change of
Control Offer upon a Change of Control if a third party makes the Change of Control Offer in the manner, at the times and otherwise in compliance with the requirements set forth in this Section&nbsp;4.08 applicable to a Change of Control Offer made
by the Issuer and purchases all Securities validly tendered and not withdrawn under such Change of Control Offer. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) If
Holders of not less than 90% in aggregate principal amount of the outstanding Securities validly tender and do not withdraw such Securities in a Change of Control Offer and the Issuer, or any third party making a Change of Control Offer in lieu of
the Issuer as described above, purchases all of the Securities validly tendered and not withdrawn by such Holders, the Issuer or such third party will have the right, upon not less than 30 nor more than 60 days&#146; prior notice, given not more
than 30 days following such purchase pursuant to the Change of Control Offer described above, to repurchase all Securities that remain outstanding following such purchase at a price in cash equal to 101% of the principal amount thereof plus accrued
and unpaid interest to but excluding the date of repurchase. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) Securities repurchased by the Issuer pursuant to a Change
of Control Offer will have the status of Securities issued but not outstanding or will be retired and canceled at the option of the Issuer. Securities purchased by a third party pursuant to the preceding clause (f)&nbsp;will have the status of
Securities issued and outstanding. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) At the time the Issuer delivers Securities to the Trustee which are to be accepted
for purchase, the Issuer shall also deliver an Officer&#146;s Certificate stating that such Securities are to be accepted by the Issuer pursuant to and in accordance with the terms of this Section&nbsp;4.08. A Security shall be deemed to have been
accepted for purchase at the time the Trustee, directly or through an agent, mails or delivers payment therefor to the surrendering Holder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Prior to any Change of Control Offer, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate stating that
all conditions precedent contained herein to the right of the Issuer to make such offer have been complied with. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) To
the extent that the provisions of any securities laws or regulations conflict with the provisions of this Section&nbsp;4.08, the Issuer shall comply with the applicable securities laws and regulations and shall not be deemed to have breached its
obligations under this Section&nbsp;4.08 by virtue thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The provisions under this Indenture relating to the
Issuer&#146;s obligation to make an offer to repurchase Securities as a result of a Change of Control may be waived or modified with the written consent of the Holders of a majority in principal amount of the Securities. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.09 <U>Compliance Certificate</U>. The Issuer shall deliver to the Trustee within 120
days after the end of each fiscal year of the Issuer, beginning with the fiscal year end on December&nbsp;31, 2014, an Officer&#146;s Certificate stating that in the course of the performance by the signers of their duties as Officers of the Issuer
they would normally have knowledge of any Default and whether or not the signers know of any Default that occurred during such period. If they do, the certificate shall describe the Default, its status and what action the Issuer is taking or
proposes to take with respect thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.10 <U>Listing and General Information</U>. (a)&nbsp;The Issuer will use all commercially
reasonable efforts to list and maintain the listing of the Securities on the Euro MTF Market of the Luxembourg Stock Exchange; provided that if (1)&nbsp;the Issuer is unable to list the Securities on the Euro MTF Market of the Luxembourg Stock
Exchange, (2)&nbsp;maintenance of such listing becomes unduly onerous, or (3)&nbsp;the Euro MTF Market of the Luxembourg Stock Exchange requires financial information from the Issuer or any of its Subsidiaries, then the Issuer will, prior to the
delisting of the Securities from the Euro MTF Market of the Luxembourg Stock Exchange (if then listed on the Euro MTF Market of the Luxembourg Stock Exchange), use all commercially reasonable efforts to list and maintain a listing of the Securities
on the Global Exchange Market of the Irish Stock Exchange or another internationally recognized stock exchange (in which case, references in this Section&nbsp;4.10 to the Euro MTF Market of the Luxembourg Stock Exchange shall be deemed to refer to
such other stock exchange). For avoidance of doubt, in no event will this Section&nbsp;4.10 require the Issuer to list or maintain a listing on any exchange that requires financial reporting for any fiscal period in addition to the periods required
by the SEC (for a &#147;foreign private issuer&#148;) and the Netherlands Authority for the Financial Markets (Autoriteit Financi&euml;le Markten). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) So long as the Securities are listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the
Euro MTF Market thereof and the rules of the Luxembourg Stock Exchange shall so require, copies, current and future, of all of our annual audited consolidated and unconsolidated financial statements, our unaudited consolidated interim quarterly
financial statements, in each case as required to be filed pursuant to the rules of the SEC or the Netherlands Authority for the Financial Markets, and this Indenture may be obtained, free of charge, during normal business hours at the offices of
the listing agent in the Grand Duchy of Luxembourg. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.11 <U>Future Guarantors</U>. (a)&nbsp;The Issuer shall cause each
Restricted Subsidiary (unless such Subsidiary is a Receivables Subsidiary) that guarantees any Indebtedness under Credit Facilities of (i)&nbsp;the Issuer or (ii)&nbsp;any of the Guarantors, on the Issue Date or at any time thereafter, to execute
and deliver to the Trustee a supplemental indenture substantially in the form of Exhibit&nbsp;B pursuant to which such Subsidiary shall guarantee the Issuer&#146;s Obligations under the Securities and this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding Section&nbsp;4.11(a), none of Wise Metals Intermediate Holdings LLC or its direct or indirect Subsidiaries shall be
required to provide a Guarantee to the extent that such action would violate any Wise Guarantee Restriction. After the consummation of the Wise Acquisition, to the extent the provision of a Guarantee would otherwise no longer violate a Wise
Guarantee Restriction or the applicable Wise Guarantee Restriction no longer applies, the Issuer will, subject to Section&nbsp;4.11(a), cause Wise Metals Intermediate Holdings LLC and its applicable direct and indirect Subsidiaries to execute and
deliver to the Trustee a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
supplemental indenture substantially in the form of Exhibit B pursuant to which Wise Metals Intermediate Holdings LLC and/or the applicable direct and indirect Subsidiaries will guarantee the
Issuer&#146;s Obligations under the Securities and this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) None of the Wise Entities may guarantee any Indebtedness of the
Issuer or any of the Guarantors, in each case unless (a)&nbsp;the aggregate outstanding principal amount of all Indebtedness of the Issuer or any of the Guarantors guaranteed by one or more Wise Entities (excluding any such Indebtedness for which
all of the Wise Entities that guarantee such Indebtedness are Guarantors) does not exceed &#128;50&nbsp;million or (b)&nbsp;each Wise Entity that guarantees Indebtedness of the Issuer or any of the Guarantors also provides a Guarantee in accordance
with subsection 4.11(a) hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.12 <U>Liens</U>. (a)&nbsp;The Issuer shall not, and shall not permit any of its Restricted
Subsidiaries to, directly or indirectly, create, Incur or suffer to exist any Lien on any asset or property of the Issuer or such Restricted Subsidiary securing Indebtedness unless the Securities are equally and ratably secured with (or on a senior
basis to, in the case of obligations subordinated in right of payment to the Securities) the obligations so secured until such time as such obligations are no longer secured by a Lien. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;4.12(a) shall not require the Issuer or any Restricted Subsidiary of the Issuer to secure the Securities if
the Lien consists of a Permitted Lien. Any Lien that is granted to secure the Securities or such Guarantee under Section&nbsp;4.12(a) shall be automatically released and discharged at the same time as the release of the Lien that gave rise to the
obligation to secure the Securities or such Guarantee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.13 <U>Maintenance of Office or Agency</U>. (a)&nbsp;The Issuer shall
maintain an office or agency (which may be an office of the Trustee or an Affiliate of the Trustee or Registrar) where Securities may be surrendered for registration of transfer or for exchange and where notices and demands to or upon the Issuer in
respect of the Securities and this Indenture may be served. The Issuer shall give prompt written notice to the Trustee of the location, and any change in the location, of such office or agency. If at any time the Issuer shall fail to maintain any
such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the corporate trust office of the Trustee as set forth in Section&nbsp;11.03.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(b) The Issuer may also from time to time designate one or more other offices or agencies where the Securities may
be presented or surrendered for any or all such purposes and may from time to time rescind such designations; <I>provided</I>,<I> however</I>, that no such designation or rescission shall in any manner relieve the Issuer of its obligation to
maintain an office or agency for such purposes. The Issuer shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any such other office or agency.<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Issuer hereby designates the corporate trust office of the Trustee or its Agent as such office or agency of the Issuer
in accordance with Section&nbsp;2.04. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.14 <U>Termination and Suspension of Certain Covenants</U>. (a)&nbsp;If on any date
following the Issue Date (i)&nbsp;the Securities have Investment Grade Ratings from both </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Rating Agencies, and the Issuer has delivered an Officer&#146;s Certificate of such Investment Grade Ratings to the Trustee, and (ii)&nbsp;no Default has occurred and is continuing under this
Indenture (the occurrence of the events described in the foregoing clauses (i)&nbsp;and (ii)&nbsp;being collectively referred to as a &#147;Covenant Suspension Event&#148;), then, beginning on such date, the Issuer and its Restricted Subsidiaries
will not be subject to Section&nbsp;4.03 hereof, Section&nbsp;4.04 hereof, Section&nbsp;4.05 hereof, Section&nbsp;4.06 hereof, Section&nbsp;4.07 hereof, Section&nbsp;4.08 hereof, Section&nbsp;4.11 hereof, clause (iv)&nbsp;of Section&nbsp;5.01(a)
hereof, Section&nbsp;5.01(b) hereof and the penultimate paragraph of Section&nbsp;5.01 hereof (collectively, the &#147;Suspended Covenants&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) In the event that the Issuer and the Restricted Subsidiaries are not subject to the Suspended Covenants under this
Indenture for any period of time as a result of the foregoing, and on any subsequent date (the &#147;Reversion Date&#148;) one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Securities
below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries shall thereafter again be subject to the Suspended Covenants with respect to future events. The period of time between the Covenant Suspension Event and the Reversion
Date is referred to herein as the &#147;Suspension Period&#148;. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding that the Suspended Covenants may be
reinstated, no Default will be deemed to have occurred as a result of a failure to comply with the Suspended Covenants during the Suspension Period. During any Suspension Period, the Issuer may not designate any Subsidiary as an Unrestricted
Subsidiary unless the Issuer would have been permitted to designate such Subsidiary as an Unrestricted Subsidiary if a Suspension Period had not been in effect for any period, and such designation shall be deemed to have created a Restricted Payment
pursuant to Section&nbsp;4.04 following the Reversion Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) On the Reversion Date, all Indebtedness Incurred, or
Disqualified Stock or Preferred Stock issued, during the Suspension Period will be classified to have been Incurred or issued pursuant to Section&nbsp;4.03(a) or one of the clauses set forth in Section&nbsp;4.03(b) (in each case, to the extent such
Indebtedness would be permitted to be Incurred thereunder as of the Reversion Date and after giving effect to Indebtedness Incurred prior to the Suspension Period and outstanding on the Reversion Date). To the extent such Indebtedness or
Disqualified Stock or Preferred Stock would not be so permitted to be Incurred or issued pursuant to Section&nbsp;4.03(a) or Section&nbsp;4.03(b), such Indebtedness or Disqualified Stock or Preferred Stock will be deemed to have been outstanding on
the Issue Date, so that it is classified as permitted under Section&nbsp;4.03(b)(iv). For purposes of Section&nbsp;4.11, all Indebtedness Incurred during the Suspension Period and outstanding on the Reversion Date by any Restricted Subsidiary that
is not a Guarantor will be deemed to have been Incurred on the Reversion Date. Calculations made after the Reversion Date of the amount available to be made as Restricted Payments under Section&nbsp;4.04 will be made as though Section&nbsp;4.04 had
been in effect since the Issue Date and throughout the Suspension Period. Accordingly, Restricted Payments made during the Suspension Period will reduce the amount available to be made as Restricted Payments under Section&nbsp;4.04(a) and the items
specified in clauses (1)&nbsp;through (6)&nbsp;of the definition of &#147;Cumulative Credit&#148; will increase the amount available to be made as Restricted Payments under the first paragraph thereof. For purposes of determining compliance with
Section&nbsp;4.06 on the Reversion Date, the Net Proceeds from all Asset Sales not applied in accordance with the covenant will be deemed to be reset to zero. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) In addition, in the event that the Issuer and the Restricted Subsidiaries are
not subject to the Suspended Covenants under this Indenture for any period as a result of the foregoing, and on any subsequent date the Issuer or any of its Affiliates enters into an agreement to effect a transaction that would result in a Change of
Control and one or more of the Rating Agencies indicate that if consummated, such transaction (alone or together with any related recapitalization or refinancing transactions) would cause such Rating Agency to withdraw its Investment Grade Rating or
downgrade the ratings assigned to the Securities below an Investment Grade Rating, then the Issuer and its Restricted Subsidiaries will thereafter again be subject to Section&nbsp;4.08 hereof until the occurrence, if any, of another Covenant
Suspension Event, or the termination of such agreement, or the withdrawal by such Rating Agency of such indication, whichever occurs earliest. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 4.15 <U>Prescription</U>. Claims against the Issuer or any Guarantor for the payment of principal or Additional Amounts, if any, will
be prescribed ten years after the applicable due date for payment thereof. Claims against the Issuer or any Guarantor for the payment of interest, if any, will be prescribed five years after the applicable due date for payment of interest. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 5 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SUCCESSOR
COMPANY </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 5.01 <U>When Issuer May Merge or Transfer Assets</U>. (a)&nbsp;The Issuer shall not, directly or indirectly,
consolidate, amalgamate or merge with or into or wind up or convert into (whether or not the Issuer is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in
one or more related transactions, to any Person unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>(i) the Issuer is the surviving Person or the Person formed
by or surviving any such consolidation, amalgamation, merger, winding up or conversion (if other than the Issuer) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership
or limited liability company organized or other Person existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (the Issuer or such
Person, as the case may be, being herein called the &#147;Successor Company&#148;); <I>provided</I> that in the case where the surviving Person is not a corporation or limited liability company (or equivalent of a corporation or limited liability
company in any permitted jurisdiction listed in this clause (i)), a co-obligor of the Securities is a corporation;<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Successor Company (if other than the Issuer) expressly assumes all the obligations of the Issuer under this Indenture
and the Securities pursuant to supplemental indentures or other documents or instruments; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) immediately after giving effect to such transaction (and treating any
Indebtedness which becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction)
no Default shall have occurred and be continuing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) immediately after giving pro forma effect to such transaction, as
if such transaction had occurred at the beginning of the applicable four-quarter period (and treating any Indebtedness which becomes an obligation of the Successor Company or any of its Restricted Subsidiaries as a result of such transaction as
having been Incurred by the Successor Company or such Restricted Subsidiary at the time of such transaction), either </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A)
the Successor Company would be permitted to Incur at least $1.00 of additional Indebtedness pursuant to the Fixed Charge Coverage Ratio test set forth in Section&nbsp;4.03(a); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Fixed Charge Coverage Ratio for the Successor Company and its Restricted Subsidiaries would be equal to or greater
than such ratio for the Issuer and its Restricted Subsidiaries immediately prior to such transaction; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) if the Successor
Company is not the Issuer, each Guarantor, unless it is the other party to the transactions described above, shall have by supplemental indenture confirmed that its Guarantee shall apply to such Person&#146;s obligations under this Indenture and the
Securities; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) the Successor Company (if other than the Issuer) shall have delivered to the Trustee an
Officer&#146;s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indentures (if any) comply with this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Successor Company (if other than the Issuer) shall succeed to, and be substituted for, the Issuer under this Indenture and the Securities,
and in such event the Issuer will automatically be released and discharged from its obligations under this Indenture and the Securities. Notwithstanding the foregoing clauses (iii)&nbsp;and (iv)&nbsp;of this Section&nbsp;5.01(a), (A)&nbsp;any
Restricted Subsidiary may merge, consolidate or amalgamate with or transfer all or part of its properties and assets to the Issuer or to another Restricted Subsidiary, and (B)&nbsp;the Issuer may merge, consolidate or amalgamate with an Affiliate
incorporated solely for the purpose of reincorporating the Issuer in any country in the European Union, Switzerland, a state of the United States, the District of Columbia or any territory of the United States, so long as the amount of Indebtedness
of the Issuer and its Restricted Subsidiaries is not increased thereby. This Article 5 will not apply to a sale, assignment, transfer, conveyance or other disposition of assets between or among the Issuer and its Restricted Subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Subject to the provisions of Section&nbsp;10.03 (which govern the release of a Guarantee upon the sale or disposition of a
Restricted Subsidiary of the Issuer that is a Guarantor), no Guarantor shall, and the Issuer shall not permit any Guarantor to, consolidate, amalgamate or merge with or into or wind up into (whether or not such
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
Guarantor is the surviving Person), or sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets in one or more related transactions to,
any Person unless: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) either (A)&nbsp;such Guarantor is the surviving Person or the Person formed by or surviving any
such consolidation, amalgamation or merger (if other than such Guarantor) or to which such sale, assignment, transfer, lease, conveyance or other disposition shall have been made is a corporation, partnership or limited liability company or other
Person organized or existing under the laws of any country in the European Union, of Switzerland, or of the United States, any state thereof, the District of Columbia, or any territory thereof (such Guarantor or such Person, as the case may be,
being herein called the &#147;Successor Guarantor&#148;) and the Successor Guarantor (if other than such Guarantor) expressly assumes all the obligations of such Guarantor under this Indenture and such Security, such Guarantor&#146;s Guarantee
pursuant to a supplemental indenture or other documents or instruments, or (B)&nbsp;such sale or disposition or consolidation, amalgamation or merger is not in violation of Section&nbsp;4.06; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the case of clause (i)(A) above, the Successor Guarantor (if other than such Guarantor) shall have delivered or caused
to be delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that such consolidation, amalgamation, merger or transfer and such supplemental indenture (if any) comply with this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in this Indenture, the Successor Guarantor (if other than such Guarantor) will succeed to, and be substituted
for, such Guarantor under this Indenture and such Guarantor&#146;s Guarantee, and such Guarantor will automatically be released and discharged from its obligations under this Indenture and such Guarantor&#146;s Guarantee. Notwithstanding the
foregoing, (1)&nbsp;a Guarantor may merge, amalgamate or consolidate with an Affiliate incorporated solely for the purpose of reincorporating such Guarantor in any country in the European Union, Switzerland, the United States, or a state of the
United States, the District of Columbia or any territory of the United States so long as the amount of Indebtedness of the Guarantor is not increased thereby and (2)&nbsp;a Guarantor may merge, amalgamate or consolidate with another Guarantor or the
Issuer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, notwithstanding the foregoing, any Guarantor may consolidate, amalgamate or merge with or into or wind up into, or
sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of its properties or assets (collectively, a &#147;Transfer&#148;) to (x)&nbsp;the Issuer or any Guarantor or (y)&nbsp;any Restricted Subsidiary of the Issuer
that is not a Guarantor; provided that at the time of each such Transfer pursuant to clause (y)&nbsp;the aggregate amount of all such Transfers since the Issue Date shall not exceed 5.0% of the consolidated assets of the Issuer and the Guarantors as
shown on the most recent available balance sheet of the Issuer and the Restricted Subsidiaries after giving effect to each such Transfer and including all Transfers occurring from and after the Issue Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFAULTS AND REMEDIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.01 <U>Events of Default</U>. An &#147;Event of Default&#148; with respect to the Securities occurs if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) there is a default in any payment of interest (including any Additional Amounts) on any Security, when the same becomes due
and payable, and such default continues for a period of 30 days, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) there is a default in the payment of principal or
premium, if any, of any Security, when due at its Stated Maturity, upon optional redemption, upon required repurchase, upon declaration or otherwise, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer or any Restricted Subsidiary fails to comply with its obligations under Section&nbsp;5.01, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) the Issuer or any Restricted Subsidiary fails to comply with any of its agreements in the Securities or this Indenture
(other than those referred to in clause (a), (b)&nbsp;or (c)&nbsp;above) and such failure continues for 60 days after the notice specified below, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the Issuer or any Significant Subsidiary fails to pay any Indebtedness (other than Indebtedness owing to the Issuer or a
Restricted Subsidiary) within any applicable grace period after final maturity or the acceleration of any such Indebtedness by the holders thereof because of a default, in each case, if the total amount of such Indebtedness unpaid or accelerated
exceeds &#128;50.0&nbsp;million or its foreign currency equivalent, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) the Issuer or any Significant Subsidiary pursuant
to or within the meaning of any Bankruptcy Law: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) commences a voluntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) consents to the entry of an order for relief against it in an involuntary case; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) consents to the appointment of a Custodian of it or for any substantial part of its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) makes a general assignment for the benefit of its creditors or takes any comparable action under any foreign laws relating
to insolvency, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) a court of competent jurisdiction enters an order or decree under any Bankruptcy Law that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) is for relief against the Issuer or any Significant Subsidiary in an involuntary case; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) appoints a Custodian of the Issuer or any Significant Subsidiary or for any
substantial part of its property; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) orders the winding up or liquidation of the Issuer or any Significant
Subsidiary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">or any similar relief is granted under any foreign laws and the order or decree remains unstayed and in effect for 60 days,
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) the Issuer or any Significant Subsidiary fails to pay final judgments aggregating in excess of &#128;50.0&nbsp;million
or its foreign currency equivalent (net of any amounts which are covered by enforceable insurance policies issued by solvent carriers), which judgments are not discharged, waived or stayed for a period of 60 days following the entry thereof or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) any Guarantee of a Significant Subsidiary with respect to the Securities ceases to be in full force and effect (except as
contemplated by the terms thereof) or any Guarantor that qualifies as a Significant Subsidiary denies or disaffirms its obligations under this Indenture or any Guarantee with respect to the Securities and such Default continues for 10 days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The foregoing shall constitute Events of Default whatever the reason for any such Event of Default and whether it is voluntary or involuntary
or is effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The term &#147;Bankruptcy Law&#148; means Title 11, United States Code, or any similar federal or state law or similar applicable law of any
jurisdiction for the relief of debtors. The term &#147;Custodian&#148; means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Default under clause (d)&nbsp;above shall not constitute an Event of Default until the Trustee or the Holders of at least 25% in principal
amount of the Securities notify the Issuer of the Default and the Issuer does not cure such Default within the time specified in clause (d)&nbsp;above after receipt of such notice. Such notice must specify the Default, demand that it be remedied and
state that such notice is a &#147;Notice of Default.&#148; The Issuer shall deliver to the Trustee, within thirty (30)&nbsp;days after the occurrence thereof, written notice in the form of an Officer&#146;s Certificate of any event which is, or with
the giving of notice or the lapse of time or both would become, an Event of Default, its status and what action the Issuer is taking or proposes to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.02 <U>Acceleration</U>. If an Event of Default (other than an Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with
respect to the Issuer) occurs with respect to the Securities and is continuing, the Trustee or the Holders of at least 25% in principal amount of Securities, by notice to the Issuer may declare the principal of, premium, if any, and accrued but
unpaid interest on all the Securities to be due and payable; <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be effective until the earlier of (i)&nbsp;five (5)&nbsp;Business
Days after the giving of written notice to the Issuer and the Representative under the Bank Credit Facilities and (ii)&nbsp;the day on which any Bank Indebtedness </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
is accelerated. Upon such a declaration, such principal and interest shall be due and payable immediately. If an Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the
Issuer occurs, the principal of, premium, if any, and interest on all the Securities shall become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. The Holders of a majority in
principal amount of the outstanding Securities by notice to the Trustee may rescind any such acceleration and its consequences. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the
event of any Event of Default specified in Section&nbsp;6.01(e), such Event of Default and all consequences thereof (excluding, however, any resulting payment default) shall be annulled, waived and rescinded, automatically and without any action by
the Trustee or the Holders of the Securities, if within 20 days after such Event of Default arose the Issuer delivers an Officer&#146;s Certificate to the Trustee stating that (x)&nbsp;the Indebtedness or guarantee that is the basis for such Event
of Default has been discharged or (y)&nbsp;the holders thereof have rescinded or waived the acceleration, notice or action (as the case may be) giving rise to such Event of Default or (z)&nbsp;the default that is the basis for such Event of Default
has been cured, it being understood that in no event shall an acceleration of the principal amount of the Securities as described above be annulled, waived or rescinded upon the happening of any such events. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.03 <U>Other Remedies</U>. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy at law or in
equity to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may maintain a proceeding even if it does not possess any of the Securities or does not produce any of them in the proceeding. A
delay or omission by the Trustee or any Holder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a waiver of or acquiescence in the Event of Default. No remedy is exclusive of any
other remedy. To the extent required by law, all available remedies are cumulative. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.04 <U>Waiver of Past Defaults</U>. Provided
the Securities are not then due and payable by reason of a declaration of acceleration, the Holders of a majority in principal amount of the outstanding Securities by written notice to the Trustee may waive an existing Default or Event of Default
and its consequences except (a)&nbsp;a Default in the payment of the principal of or interest on a Security, (b)&nbsp;a Default arising from the failure to redeem or purchase any Security when required pursuant to the terms of this Indenture or
(c)&nbsp;a Default in respect of a provision that under Section&nbsp;9.02 cannot be amended without the consent of each Holder affected. When a Default is waived, it is deemed cured and the Issuer, the Trustee and the Holders will be restored to
their former positions and rights under this Indenture, but no such waiver shall extend to any subsequent or other Default or impair any consequent right. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.05 <U>Control by Majority</U>. The Holders of a majority in principal amount of the outstanding Securities may direct the time,
method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture or,
subject to Section&nbsp;7.01, is unduly prejudicial to the rights of any other Holder or that would involve the Trustee in personal or financial liability. Prior to taking any action under this Indenture, the Trustee shall be entitled to
indemnification and security satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.06 <U>Limitation on Suits</U>. (a)&nbsp;Except to enforce the right to receive payment
of principal, premium (if any) or interest when due, no Holder may pursue any remedy with respect to this Indenture or the Securities unless: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Holder gives to the Trustee written notice stating that an Event of Default is continuing; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Holders of at least 25% in principal amount of the outstanding Securities make a written request to the Trustee to
pursue the remedy; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such Holder or Holders offer to the Trustee reasonable security and indemnity satisfactory to the
Trustee against any loss, liability or expense; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee does not comply with the request within 60 days after
receipt of the request and the offer of security or indemnity; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the Holders of a majority in principal amount of
the Securities do not give the Trustee a direction inconsistent with the request during such 60-day period. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) A Holder
may not use this Indenture to prejudice the rights of another Holder or to obtain a preference or priority over another Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
6.07 <U>Rights of the Holders to Receive Payment</U>. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective
due dates expressed or provided for in the Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.08 <U>Collection Suit by Trustee</U>. If an Event of Default specified in Section&nbsp;6.01(a) or (b)&nbsp;occurs and is continuing
with respect to Securities, the Trustee may recover judgment in its own name and as trustee of an express trust against the Issuer or any other obligor on the Securities for the whole amount then due and owing (together with interest on overdue
principal and (to the extent lawful) on any unpaid interest at the rate provided for in such Securities) and the amounts provided for in Section&nbsp;7.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.09 <U>Trustee May File Proofs of Claim</U>. The Trustee may file such proofs of claim and other papers or documents as may be
necessary or advisable in order to have the claims of the Trustee (including any claim for reasonable compensation, expenses disbursements and advances of the Trustee (including counsel, accountants, experts or such other professionals as the
Trustee deems necessary, advisable or appropriate)) and the Holders of the Securities then outstanding allowed in any judicial proceedings relative to the Issuer or any Guarantor, its creditors or its property, shall be entitled to participate as a
member, voting or otherwise, of any official committee of creditors appointed in such matters and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders in any election of a trustee in bankruptcy or other Person
performing similar functions, and any Custodian in any such judicial </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to
the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and its counsel, and any other amounts due the Trustee under Section&nbsp;7.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.10 <U>Priorities</U>. If the Trustee collects any money or property pursuant to this Article 6, it shall pay out the money or
property in the following order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">FIRST: to the Trustee (in all of its roles and capacities) for amounts due under
Section&nbsp;7.07; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECOND: to the Holders for amounts due and unpaid on the Securities for principal, premium, if any, and
interest, ratably, without preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIRD: to the Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may fix a record date and payment date for any payment to the Holders pursuant to this Section. At least 15 days before such
record date, the Trustee shall mail to each Holder and the Issuer a notice that states the record date, the payment date and amount to be paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.11 <U>Undertaking for Costs</U>. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against
the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable
costs, including reasonable attorneys&#146; fees and expenses, against any party litigant in the suit, having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the
Trustee, a suit by a Holder pursuant to Section&nbsp;6.07 or a suit by Holders of more than 10% in principal amount of the outstanding Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 6.12 <U>Waiver of Stay or Extension Laws</U>. Neither the Issuer nor any Guarantor (to the extent it may lawfully do so) shall at any
time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this
Indenture; and the Issuer and each Guarantor (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law, and shall not hinder, delay or impede the execution of any power herein granted to the Trustee,
but shall suffer and permit the execution of every such power as though no such law had been enacted. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 7 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRUSTEE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.01
<U>Duties of Trustee</U>. (a)&nbsp;If an Event of Default has occurred and is continuing, the Trustee shall exercise the rights and powers vested in it by this Indenture and use the same degree of care and skill in their exercise as a prudent person
would exercise or use under the circumstances in the conduct of such person&#146;s own affairs. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Except during the continuance of an Event of Default: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Trustee undertakes to perform such duties and only such duties as are specifically set forth in this Indenture and no
implied covenants or obligations shall be read into this Indenture against the Trustee (it being agreed that the permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the
correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. The Trustee shall be under no duty to make any investigation as to any statement contained in
any such instance, but may accept the same as conclusive evidence of the truth and accuracy of such statement or the correctness of such opinions. However, in the case of certificates or opinions required by any provision hereof to be provided to
it, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the form required by this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may not be relieved from liability for its own grossly negligent action, its own grossly negligent failure to
act or its own willful misconduct, except that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) this paragraph does not limit the effect of paragraph (b)&nbsp;of this
Section; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee shall not be liable for any error of judgment made in good faith by a Responsible Officer of the
Trustee unless it is proved that the Trustee was grossly negligent in ascertaining the pertinent facts; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Trustee
shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a direction received by it pursuant to Section&nbsp;6.05; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) no provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise Incur financial or
personal liability in the performance of any of its duties hereunder or in the exercise of any of its rights or powers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Every provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b)&nbsp;and
(c)&nbsp;of this Section. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee shall not be liable for interest on any money received by it except as the
Trustee may agree in writing with the Issuer. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Money held in trust by the Trustee need not be segregated from other funds
except to the extent required by law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Every provision of this Indenture relating to the conduct or affecting the
liability of or affording protection to the Trustee shall be subject to the provisions of this Section. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.02 <U>Rights of
Trustee</U>. (a)&nbsp;The Trustee may conclusively rely on any document believed by it to be genuine and to have been signed or presented by the proper person. The Trustee need not investigate any fact, calculation or matter stated in the document.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before the Trustee acts or refrains from acting, it may require an Officer&#146;s Certificate or an Opinion of Counsel
or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on the Officer&#146;s Certificate or Opinion of Counsel. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may act through agents and shall not be responsible for the misconduct or gross negligence of any agent
appointed with due care. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) The Trustee shall not be liable for any action it takes or omits to take in good faith which
it believes to be authorized or within its rights or powers; <I>provided</I>, <I>however</I>, that the Trustee&#146;s conduct does not constitute willful misconduct or gross negligence. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Trustee may consult with counsel of its own selection and the advice or opinion of counsel with respect to legal
matters relating to this Indenture and the Securities shall be full and complete authorization and protection from liability in respect of any action taken, omitted or suffered by it hereunder in good faith and in accordance with the advice or
opinion of such counsel. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) The Trustee shall not be bound to make any investigation into the facts or matters stated in
any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, approval, bond, debenture, note or other paper or document unless requested in writing to do so by the Holders of not less than a majority in
principal amount of the Securities at the time outstanding, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make such further
inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuer, personally or by agent or attorney, at the expense of the Issuer and shall Incur no liability of any kind by reason of such inquiry or
investigation. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) The Trustee shall be under no obligation to exercise any of the rights or powers vested in it by this
Indenture at the request or direction of any of the Holders pursuant to this Indenture, unless such Holders shall have offered to the Trustee security or indemnity satisfactory to the Trustee against the costs, expenses (including reasonable
attorney&#146;s fees and expenses) and liabilities which might be incurred by it in compliance with such request or direction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) The rights, privileges, protections, immunities and benefits given to the
Trustee, including its right to be indemnified, are extended to, and shall be enforceable by each of the Trustee, Principal Paying Agent, Registrar and Transfer Agent in each of their respective roles and capacities hereunder, and each agent,
custodian and other Person appointed or employed to act hereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) The Trustee shall not be liable for any action
taken or omitted by it in good faith at the direction of the Holders of not less than a majority in principal amount of the Securities as to the time, method and place of conducting any proceedings for any remedy available to the Trustee or the
exercising of any power conferred by this Indenture. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Any action taken, or omitted to be taken, by the Trustee in good
faith pursuant to this Indenture upon the request or authority or consent of any Person who, at the time of making such request or giving such authority or consent, is the Holder of any Security shall be conclusive and binding upon future Holders of
Securities and upon Securities executed and delivered in exchange therefor or in place thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) Unless otherwise
specifically provided in this Indenture, any demand, request, direction or notice from the Issuer shall be sufficient if signed by an Officer of the Issuer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) The Trustee shall not be charged with knowledge or deemed with notice of any Default of Event of Default with respect to
the Securities unless either (A)&nbsp;a Responsible Officer of the Trustee assigned to the Corporate Trust department of the Trustee (or any successor division or department of the Trustee) shall have actual knowledge of such Default or Event of
Default or (B)&nbsp;written notice of such Default or Event of Default shall have been given to the Trustee at its Corporate Trust Office by the Issuer or any other obligor on the Securities or by any Holder of the Securities, such notice
specifically identifying this Indenture and the Securities. For purposes of determining the Trustee&#146;s responsibility and liability hereunder, whenever reference is made in this Indenture to a Default or Event of Default, such reference shall be
construed to refer only to such Default or Event of Default for which the Trustee is deemed to have notice pursuant to this Section&nbsp;7.02(l). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(m) The Trustee may request that the Company deliver an Officer&#146;s Certificate setting forth the names of individuals
and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture, which Officer&#146;s Certificate may be signed by any person authorized to sign an Officer&#146;s Certificate, including any person specified as
so authorized in any such certificate previously delivered and not superseded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(n) The permissive rights of the Trustee
enumerated herein shall not be construed as duties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(o) In respect of this Indenture, the Trustee shall not have any duty
or obligation to verify or confirm that the Person sending instructions, directions, reports, notices or other communications or information by electronic transmission is, in fact, a Person authorized to give such instructions, directions, reports,
notices or other communications or information on behalf of the party purporting to send such electronic </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
transmission; and the Trustee shall not have any liability for any losses, liabilities, costs or expenses incurred or sustained by any party as a result of such reliance upon or compliance with
such instructions, directions, reports, notices or other communications or information. Each other party agrees to assume all risks arising out of the use of electronic methods to submit instructions, directions, reports, notices or other
communications or information to the Trustee, including without limitation the risk of the Trustee acting on unauthorized instructions, notices, reports or other communications or information, and the risk of interception and misuse by third
parties. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(p) In no event shall the Trustee be responsible or liable for any special, indirect, punitive or consequential
loss or damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(q) The Trustee shall have no obligation or duty to ensure compliance with the securities laws of any country or state except
to request such certificates or other documents required to be obtained by the Trustee or any Registrar hereunder in connection with any exchange or transfer pursuant to the terms hereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(r) The Trustee shall not incur any liability for not performing any act or fulfilling any duty, obligation or responsibility
hereunder by reason of any occurrence beyond the control of the Trustee (including but not limited to any act or provision of any present or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national
disturbance or disaster, any act of terrorism, or the unavailability of the Federal Reserve Bank wire or facsimile or other wire or communication facility). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.03 <U>Individual Rights of Trustee</U>. The Trustee in its individual or any other capacity may become the owner or pledgee of
Securities and may otherwise deal with the Issuer or their Affiliates with the same rights it would have if it were not Trustee. Any paying agent or Registrar may do the same with like rights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.04 <U>Trustee&#146;s Disclaimer</U>. The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, any Guarantee or the Securities, it shall not be accountable for the Issuer&#146;s use of the proceeds from the Securities, and it shall not be responsible for any statement of the Issuer or any Guarantor in this
Indenture or in any document issued in connection with the sale of the Securities or in the Securities other than the Trustee&#146;s certificate of authentication. The Trustee shall not be charged with knowledge of any Default or Event of Default
under Sections 6.01(c), (d), (f), (g), (e), (h), or (i)&nbsp;or of the identity of any Significant Subsidiary unless either (a)&nbsp;a Responsible Officer of the Trustee shall have actual knowledge thereof or (b)&nbsp;the Trustee shall have received
written notice thereof in accordance with Section&nbsp;11.03 hereof from the Issuer, any Guarantor or any Holder. In accepting the trust hereby created, the Trustee acts solely as Trustee for the Holders of the Securities and not in its individual
capacity and all persons, including without limitation the Holders of Securities and the Issuer having any claim against the Trustee arising from this Indenture shall look only to the funds and accounts held by the Trustee hereunder for payment
except as otherwise provided herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.05 <U>Notice of Defaults</U>. If a Default occurs and is continuing and if it is actually
known to a Responsible Officer of the Trustee, the Trustee shall electronically </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
deliver or mail to each Holder of the Securities notice of the Default within the earlier of 90 days after it occurs or 30 days after it is actually known to a Responsible Officer of the Trustee
or written notice of it is received by the Trustee. Except in the case of a Default in the payment of principal of, premium (if any) or interest on any Security, the Trustee may withhold the notice if and so long as a Responsible Officer of the
Trustee in good faith determines that withholding the notice is in the interests of the Holders of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.06
<U>Affiliate Subordination Agreement</U>. By its acceptance of the Securities issued hereunder, each Holder hereby authorizes the Trustee to, and upon the request of the Company the Trustee shall, enter into and perform an affiliate subordination
agreement on behalf of the Holders, on terms substantially similar to that certain Affiliate Subordination Agreement, dated as of May&nbsp;7, 2014, among the subordinated lenders and subordinated borrowers party thereto, Deutsche Bank AG New York
Branch, as administrative agent, and Deutsche Bank Trust Company Americas, as trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.07 <U>Compensation and Indemnity</U>.
The Issuer shall pay to the Trustee from time to time properly incurred compensation for its services. The Trustee&#146;s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuer shall reimburse the
Trustee upon request for all properly incurred out-of-pocket expenses incurred or made by it, including costs of collection, in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses,
disbursements and advances of the Trustee&#146;s agents, counsel, accountants and experts. The Issuer shall indemnify the Trustee against any and all loss, liability, claim, damage or expense (including reasonable attorneys&#146; fees and expenses)
incurred by or in connection with the acceptance or administration of this trust and the performance of its duties hereunder, including the costs and expenses of enforcing this Indenture or Guarantee against the Issuer or a Guarantor (including this
Section&nbsp;7.07) and defending itself against or investigating any claim (whether asserted by the Issuer, any Guarantor, any Holder or any other Person). The obligation to indemnify and pay such amounts shall survive the payment in full or
defeasance of the Securities or the removal or resignation of the Trustee. The Trustee shall notify the Issuer of any claim for which it may seek indemnity promptly upon obtaining actual knowledge thereof; <I>provided</I>, <I>however</I>, that any
failure so to notify the Issuer shall not relieve the Issuer of its indemnity obligations hereunder. The Issuer shall defend the claim and the indemnified party shall provide reasonable cooperation at the Issuer&#146;s expense in the defense. Such
indemnified parties may have separate counsel and the Issuer shall pay the fees and expenses of such counsel; <I>provided</I>, <I>however</I>, that the Issuer shall not be required to pay such fees and expenses if it assumes such indemnified
parties&#146; defense and, in such indemnified parties&#146; reasonable judgment, there is no conflict of interest between the Issuer and such parties in connection with such defense. The Issuer need not reimburse any expense or indemnify against
any loss, liability or expense incurred by an indemnified party through such party&#146;s own willful misconduct, gross negligence or bad faith, as determined by a court of competent jurisdiction in a final, non-appealable ruling. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To secure the Issuer&#146;s payment obligations in this Section, the Trustee shall have a Lien prior to the Securities on all money or
property held or collected by the Trustee other than money or property held in trust to pay principal of and interest on particular Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer&#146;s payment obligations pursuant to this Section shall survive the satisfaction or discharge of this Indenture, any rejection or
termination of this Indenture under </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
any bankruptcy law or the resignation or removal of the Trustee. Without prejudice to any other rights available to the Trustee under applicable law, when the Trustee incurs expenses after the
occurrence of a Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer, the expenses are intended to constitute expenses of administration under the Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No provision of this Indenture shall require the Trustee to expend or risk its own funds or otherwise Incur any financial liability in the
performance of any of its duties hereunder, or in the exercise of any of its rights or powers, if repayment of such funds or adequate indemnity or security against such risk or liability is not assured to its satisfaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.08 <U>Replacement of Trustee</U>. (a)&nbsp;The Trustee may resign at any time by giving 30 days written notice to the Issuer of
such. The Holders of a majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee and may appoint a successor Trustee. The Issuer shall remove the Trustee if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) [reserved]; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee is adjudged bankrupt or insolvent; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) a receiver or other public officer takes charge of the Trustee or its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the Trustee otherwise becomes incapable of acting. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) If the Trustee resigns, is removed by the Issuer or by the Holders of a majority in principal amount of the Securities and
such Holders do not reasonably promptly appoint a successor Trustee, or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring Trustee), the Issuer shall promptly appoint a
successor Trustee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee
and to the Issuer. Thereupon the resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a
notice of its succession to the Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee, subject to the Lien provided for in Section&nbsp;7.07. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring
Trustee or the Holders of 10% in principal amount of the Securities may petition at the expense of the Issuer any court of competent jurisdiction for the appointment of a successor Trustee. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Notwithstanding the replacement of the Trustee pursuant to this Section, the Issuer&#146;s obligations under
Section&nbsp;7.07 shall continue for the benefit of the retiring Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 7.09 <U>Successor Trustee by Merger</U>. If the Trustee consolidates with, merges or
converts into, or transfers all or substantially all its corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts
created by this Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated;
and in case at that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in
all such cases such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 8 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISCHARGE OF
INDENTURE; DEFEASANCE </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.01 <U>Discharge of Liability on Securities; Defeasance</U>. This Indenture shall be discharged and
shall cease to be of further effect (except as to surviving rights of registration of transfer or exchange of Securities, as expressly provided for in this Indenture) as to all outstanding Securities when: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) either (i)&nbsp;all the Securities theretofore authenticated and delivered (other than Securities pursuant to
Section&nbsp;2.08 which have been replaced or paid and Securities for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Issuer and thereafter repaid to the Issuer or discharged from such trust) have
been delivered to the Trustee for cancellation or (ii)&nbsp;all of the Securities (A)&nbsp;have become due and payable, (B)&nbsp;will become due and payable at their Stated Maturity within one year or (C)&nbsp;if redeemable at the option of the
Issuer, are to be called for redemption within one year under arrangements satisfactory to the Trustee for the giving of notice of redemption by the Trustee in the name, and at the expense, of the Issuer, and the Issuer has irrevocably deposited or
caused to be deposited with the Trustee or its designee money, European Government Obligations or a combination thereof in an amount sufficient in the written opinion of an Independent Financial Advisor delivered to the Trustee (which opinion shall
only be required if European Government Obligations have been so deposited) to pay and discharge the entire Indebtedness on the Securities not theretofore delivered to the Trustee for cancellation, for principal of, premium, if any, and interest on
the Securities to the date of deposit together with irrevocable written instructions from the Issuer directing the Trustee to apply such funds to the payment thereof at maturity or redemption, as the case may be; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Issuer and/or the Guarantors have paid all other sums payable under this Indenture; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) the Issuer has delivered to the Trustee an Officer&#146;s Certificate and an Opinion of Counsel stating that all conditions
precedent under this Indenture relating to the satisfaction and discharge of this Indenture have been complied with. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections 8.01(c) and 8.02, the Issuer at any time may terminate (i)&nbsp;all of its
obligations under the Securities and this Indenture (with respect to such Securities) (&#147;legal defeasance option&#148;) or (ii)&nbsp;its obligations under Sections 4.02, 4.03, 4.04, 4.05, 4.06, 4.07, 4.08, 4.09, 4.11 and 4.12 for the benefit of
the Securities and the operation of Section&nbsp;5.01 and Sections 6.01(c), 6.01(d), 6.01(e), 6.01(f) (with respect to Significant Subsidiaries of the Issuer only), 6.01(g) (with respect to Significant Subsidiaries of the Issuer only), 6.01(h) and
6.01(i) (&#147;covenant defeasance option&#148;) for the benefit of the Holders of the Securities. The Issuer may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. In the event that the Issuer
exercises its legal defeasance option or its covenant defeasance option with respect to the Securities, the obligations of each Guarantor under its Guarantee of such Securities shall be terminated simultaneously with the termination of the
obligations terminated pursuant to such legal defeasance or covenant defeasance. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuer exercises its legal defeasance option,
payment of the Securities so defeased may not be accelerated because of an Event of Default. If the Issuer exercises its covenant defeasance option, payment of the Securities so defeased may not be accelerated because of an Event of Default
specified in Section&nbsp;6.01(c), 6.01(d), 6.01(e), 6.01(f), 6.01(g), 6.01(h) or 6.01(i) or because of the failure of the Issuer to comply with Section&nbsp;5.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon satisfaction of the conditions set forth herein and upon request and at the expense of the Issuer, the Trustee shall acknowledge in
writing the discharge of those obligations that the Issuer terminates. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding clauses (i)&nbsp;and
(ii)&nbsp;above, the Issuer&#146;s obligations in Sections 2.04, 2.05, 2.06, 2.07, 2.08, 2.09, 7.07, 7.08 and in this Article 8 shall survive until the Securities have been paid in full. Thereafter, the Issuer&#146;s obligations in Sections 7.07,
8.05 and 8.06 shall survive such satisfaction and discharge. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.02 <U>Conditions to Defeasance</U>. (a)&nbsp;The Issuer may
exercise its legal defeasance option or its covenant defeasance option, in each case, with respect to the Securities only if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the Issuer irrevocably deposits in trust with the Trustee or its designee money, European Government Obligations or a
combination thereof sufficient, in the case any European Government Obligations are deposited, in the opinion of an Independent Financial Advisor, for the payment of principal of and premium (if any) and interest on the Securities when due at
maturity or redemption, as the case may be, including interest thereon to maturity or such redemption date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the
Issuer delivers to the Trustee a certificate from an Independent Financial Advisor expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited European Government Obligations plus any
deposited money without investment will provide cash at such times and in such amounts as will be sufficient to pay principal, premium, if any, and interest when due on all the Securities to maturity or redemption, as the case may be; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) 123 days pass after the deposit is made and during the 123-day period no
Default specified in Section&nbsp;6.01(f) or (g)&nbsp;with respect to the Issuer occurs which is continuing at the end of the period; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the deposit does not constitute a default under any other agreement binding on the Issuer; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) in the case of the legal defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel stating
that (1)&nbsp;the Issuer has received from, or there has been published by, the Internal Revenue Service a ruling, or (2)&nbsp;since the date of this Indenture there has been a change in the applicable U.S. Federal income tax law, in either case to
the effect that, and based thereon such Opinion of Counsel shall confirm that, the beneficial owners will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such deposit and defeasance and will be subject to U.S.
Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) such exercise does not impair the right of any Holder to receive payment of principal, premium, if any, and interest on
such Holder&#146;s Securities on or after the due dates therefore or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) in the case of the covenant defeasance option, the Issuer shall have delivered to the Trustee an Opinion of Counsel to
the effect that the Holders will not recognize income, gain or loss for U.S. Federal income tax purposes as a result of such deposit and defeasance and will be subject to Federal income tax on the same amounts, in the same manner and at the same
times as would have been the case if such deposit and defeasance had not occurred; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) the Issuer delivers to the
Trustee an Officer&#146;s Certificate and an Opinion of Counsel, each stating that all conditions precedent to the defeasance and discharge of the Securities to be so defeased and discharged as contemplated by this Article 8 have been complied with.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Before or after a deposit, the Issuer may make arrangements satisfactory to the Trustee for the redemption of such
Securities at a future date in accordance with Article 3. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.03 <U>Application of Trust Money</U>. The Trustee or its designee
shall hold in trust money or European Government Obligations (including proceeds thereof) deposited with it pursuant to this Article 8. It shall apply the deposited money and the money from European Government Obligations through each paying agent
and in accordance with this Indenture to the payment of principal of and interest on the Securities so discharged or defeased. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
8.04 <U>Repayment to Issuer</U>. Each of the Trustee and each paying agent shall promptly turn over to the Issuer upon request any money or European Government Obligations held by it as provided in this Article which, in the written opinion of an
Independent Financial Advisor delivered to the Trustee (which delivery shall only be required if European </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Government Obligations have been so deposited), are in excess of the amount thereof which would then be required to be deposited to effect an equivalent discharge or defeasance in accordance with
this Article 8. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to any applicable abandoned property law, the Trustee and each paying agent shall pay to the Issuer upon written
request any money held by them for the payment of principal or interest that remains unclaimed for two years, and, thereafter, Holders entitled to the money must look to the Issuer for payment as general creditors, and the Trustee and each paying
agent shall have no further liability with respect to such monies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.05 <U>Indemnity for European Government Obligations</U>. The
Issuer shall pay and shall indemnify the Trustee against any tax, fee or other charge imposed on or assessed against deposited European Government Obligations or the principal and interest received on such European Government Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 8.06 <U>Reinstatement</U>. If the Trustee or any paying agent is unable to apply any money or European Government Obligations in
accordance with this Article 8 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuer&#146;s obligations under this
Indenture and the Securities so discharged or defeased shall be revived and reinstated as though no deposit had occurred pursuant to this Article 8 until such time as the Trustee or any paying agent is permitted to apply all such money or European
Government Obligations in accordance with this Article 8; <I>provided</I>, <I>however</I>, that, if the Issuer has made any payment of principal of or interest on, any such Securities because of the reinstatement of its obligations, the Issuer shall
be subrogated to the rights of the Holders of such Securities to receive such payment from the money or European Government Obligations held by the Trustee or any paying agent. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 9 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AMENDMENTS
AND WAIVERS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.01 <U>Without Consent of the Holders</U>. The Issuer and the Trustee may amend this Indenture and the
Securities without notice to or consent of any Holder: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to cure any ambiguity, omission, mistake, defect or
inconsistency; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to provide for the assumption by a Successor Company of the obligations of the Issuer under this
Indenture and the Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to provide for the assumption by a Successor Guarantor of the obligations of a
Guarantor under this Indenture and the applicable Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) to provide for uncertificated Securities in addition to
or in place of certificated Securities (<I>provided</I> that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to add a Guarantee with respect to the Securities; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) to make any change that would provide additional rights or benefits to the
Holders or that does not adversely affect the legal rights of any such Holder under this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) to make changes
relating to the transfer and legending of the Securities; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) to secure the Securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred
upon the Issuer or any Guarantor; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) to make any change that does not adversely affect the rights of any Holder in any
material respect; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) to effect any provision of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) to provide for the issuance of Add-On Securities, which shall have terms substantially identical in all material respects
to the Original Securities, and which shall be treated, together with any outstanding Original Securities, as a single issue of securities; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) to evidence and provide for the acceptance and appointment under this Indenture of a successor Trustee hereunder
pursuant to the requirements hereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) to conform and evidence the release, termination and discharge of any Guarantee
or Lien securing the Securities when such release, termination or discharge is permitted by this Indenture; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) to
conform the text of this Indenture, the Guarantees or the Securities to any provision of the &#147;Description of the Notes&#148; contained in the Offering Memorandum to the extent such provision in the &#147;Description of the Notes&#148; contained
in the Offering Memorandum was intended to be a verbatim recitation of a provision of this Indenture, the Guarantees or the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.01 becomes effective, the Issuer shall deliver electronically or mail to the Holders a notice
briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of an amendment under this Section&nbsp;9.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.02 <U>With Consent of the Holders</U>. The Issuer and the Trustee may amend this Indenture and the Securities with respect to the
Securities with the written consent of the Holders of at least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer or exchange for the Securities). However, without the
consent of each Holder of an outstanding Security affected, an amendment may not: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) reduce the amount of Securities
whose Holders must consent to an amendment, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) reduce the rate of or extend the time for payment of interest on any
Security, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) reduce the principal of or change the Stated Maturity of any Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) reduce the premium payable upon the redemption of any Security or change the time at which any Security may be redeemed in
accordance with Article 3, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) make any Security payable in money other than that stated in such Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) expressly subordinate the Securities or any Guarantee to any other Indebtedness of the Issuer or any Guarantor, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) impair the right of any Holder to receive payment of principal of, premium, if any, and interest on such Holder&#146;s
Securities on or after the due dates therefor or to institute suit for the enforcement of any payment on or with respect to such Holder&#146;s Securities, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) make any change in Section&nbsp;6.04 or 6.07 or the second sentence of this Section&nbsp;9.02, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) except as expressly permitted by this Indenture, modify the Guarantee of any Significant Subsidiary, or the Guarantee of
one or more Restricted Subsidiaries that collectively would, at the time of such amendment, represent a Significant Subsidiary in any manner adverse to the Holders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">It shall not be necessary for the consent of the Holders under this Section&nbsp;9.02 to approve the particular form of any proposed
amendment, but it shall be sufficient if such consent approves the substance thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment under this Section&nbsp;9.02
becomes effective, the Issuer is required to deliver electronically or mail to the Holders a notice briefly describing such amendment. The failure to give such notice to all Holders, or any defect therein, shall not impair or affect the validity of
an amendment under this Section&nbsp;9.02. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.03 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.04 <U>Revocation and Effect of Consents and Waivers</U>. (a)&nbsp;A consent to an amendment or a waiver by a Holder of a Security
shall bind the Holder and every subsequent Holder of that Security or portion of the Security that evidences the same debt as the consenting Holder&#146;s Security, even if notation of the consent or waiver is not made on the Security. However, any
such Holder or subsequent Holder may revoke the consent or waiver as to such Holder&#146;s Security or portion of the Security if the Trustee receives the notice of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
revocation before the date on which the Trustee receives an Officer&#146;s Certificate from the Issuer certifying that the requisite principal amount of Securities have consented. After an
amendment or waiver becomes effective, it shall bind every Holder. An amendment or waiver becomes effective upon the (i)&nbsp;receipt by the Issuer or the Trustee of consents by the Holders of the requisite principal amount of securities,
(ii)&nbsp;satisfaction of conditions to effectiveness as set forth in this Indenture and any indenture supplemental hereto containing such amendment or waiver and (iii)&nbsp;execution of such amendment or waiver (or supplemental indenture) by the
Issuer and the Trustee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuer may, but shall not be obligated to, fix a record date for the purpose of
determining the Holders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph,
those Persons who were Holders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons
continue to be Holders after such record date. No such consent shall be valid or effective for more than 120 days after such record date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.05 <U>Notation on or Exchange of Securities</U>. If an amendment, supplement or waiver changes the terms of a Security, the Issuer
may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the changed terms and return it to the Holder. Alternatively, if the Issuer so determines, the Issuer in
exchange for the Security shall issue and the Trustee shall, upon receipt of a Written Order, authenticate a new Security that reflects the changed terms. Failure to make the appropriate notation or to issue a new Security shall not affect the
validity of such amendment, supplement or waiver. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.06 <U>Trustee to Sign Amendments</U>. The Trustee shall sign any amendment,
supplement or waiver authorized pursuant to this Article 9 if the amendment does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment, the
Trustee shall be entitled to receive indemnity reasonably satisfactory to it and shall be provided with, and (subject to Section&nbsp;7.01) shall be fully protected in relying upon, an Officer&#146;s Certificate and an Opinion of Counsel
(notwithstanding that no Opinion of Counsel is required in the case of the addition of a Guarantor) stating that such amendment, supplement or waiver is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the
legal, valid and binding obligation of the Issuer and the Guarantors, enforceable against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof (including Section&nbsp;9.03). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.07 <U>Payment for Consent</U>. Neither the Issuer nor any Affiliate of the Issuer shall, directly or indirectly, pay or cause to be
paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Securities unless such consideration is
offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 9.08 <U>Additional Voting Terms; Calculation of Principal Amount</U>. Except as otherwise
set forth herein, all Securities issued under this Indenture shall vote and consent separately on all matters as to which any of such Securities may vote. Determinations as to whether Holders of the requisite aggregate principal amount of Securities
have concurred in any direction, waiver or consent shall be made in accordance with this Article 9 and Section&nbsp;2.14. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 10
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GUARANTEES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.01 <U>Guarantees</U>. (a)&nbsp;Each Guarantor hereby jointly and severally, irrevocably and unconditionally guarantees on a senior
unsecured basis, as a primary obligor and not merely as a surety, to each Holder and to the Trustee and its successors and assigns (i)&nbsp;the full and punctual payment when due, whether at Stated Maturity, by acceleration, by redemption or
otherwise, of all Obligations of the Issuer under this Indenture (including obligations to the Trustee) and the Securities, whether for payment of principal of, premium, if any or interest on or in respect of the Securities and all other monetary
obligations of the Issuer under this Indenture and the Securities and (ii)&nbsp;the full and punctual performance within applicable grace periods of all other obligations of the Issuer whether for fees, expenses, indemnification or otherwise under
this Indenture and the Securities (all the foregoing being hereinafter collectively called the &#147;Guaranteed Obligations&#148;). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part,
without notice or further assent from each such Guarantor, and that each such Guarantor shall remain bound under this Article 10 notwithstanding any extension or renewal of any Guaranteed Obligation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Guarantor waives presentation to, demand of payment from and protest to the Issuer of any of the Guaranteed
Obligations and also waives notice of protest for nonpayment. Each Guarantor waives notice of any default under the Securities or the Guaranteed Obligations. The obligations of each Guarantor hereunder shall not be affected by (i)&nbsp;the failure
of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Issuer or any other Person under this Indenture, the Securities or any other agreement or otherwise; (ii)&nbsp;any extension or renewal of this
Indenture, the Securities or any other agreement; (iii)&nbsp;any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (iv)&nbsp;the release of any security held by
any Holder or the Trustee for the Guaranteed Obligations or any Guarantor; (v)&nbsp;the failure of any Holder or Trustee to exercise any right or remedy against any other guarantor of the Guaranteed Obligations; or (vi)&nbsp;any change in the
ownership of such Guarantor, except as provided in Section&nbsp;10.03. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Each Guarantor hereby waives any right to which
it may be entitled to have its obligations hereunder divided among the Guarantors, such that such Guarantor&#146;s obligations would be less than the full amount claimed. Each Guarantor hereby waives any right to which it may be entitled to have the
assets of the Issuer first be used and depleted as payment of the Issuer&#146;s or such Guarantor&#146;s obligations hereunder prior to any amounts being claimed from or paid by such Guarantor hereunder. Each Guarantor hereby waives any right to
which it may be entitled to require that the Issuer be sued prior to an action being initiated against such Guarantor. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Each Guarantor further agrees that its Guarantee herein constitutes a
guarantee of payment, performance and compliance when due (and not a guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) The Guarantee of each Guarantor is, to the extent and in the manner set forth in this Article 10, equal in right of payment
to all existing and future Pari Passu Indebtedness and senior in right of payment to all existing and future Subordinated Indebtedness of the Issuer and is made subject to such provisions of this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) Except as expressly set forth in Sections 8.01, 10.02 and 10.06, the obligations of each Guarantor hereunder shall not be
subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor herein shall not be discharged or impaired or
otherwise affected by the failure of any Holder or the Trustee to assert any claim or demand or to enforce any remedy under this Indenture, the Securities or any other agreement, by any waiver or modification of any thereof, by any default, failure
or delay, willful or otherwise, in the performance of the obligations, or by any other act or thing or omission or delay to do any other act or thing which may or might in any manner or to any extent vary the risk of any Guarantor or would otherwise
operate as a discharge of any Guarantor as a matter of law or equity. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) Each Guarantor agrees that its Guarantee shall
be a continuing guarantee and shall remain in full force and effect until payment in full of all the Guaranteed Obligations, subject to the other terms of this Indenture. Each Guarantor further agrees that its Guarantee herein shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or
reorganization of the Issuer or otherwise. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) In furtherance of the foregoing and not in limitation of any other right
which any Holder or the Trustee has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Issuer to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at
maturity, by acceleration, by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in
cash, to the Holders or the Trustee an amount equal to the sum of (i)&nbsp;the unpaid principal amount of such Guaranteed Obligations, (ii)&nbsp;accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by
applicable law) and (iii)&nbsp;all other monetary obligations of the Issuer to the Holders and the Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Each Guarantor agrees that it shall not be entitled to any right of
subrogation in relation to the Holders in respect of any Guaranteed Obligations guaranteed hereby until payment in full of all Guaranteed Obligations. Each Guarantor further agrees that, as between it, on the one hand, and the Holders and the
Trustee, on the other hand, (i)&nbsp;the maturity of the Guaranteed Obligations guaranteed hereby may be accelerated as provided in Article 6 for the purposes of any Guarantee herein, notwithstanding any stay, injunction or other prohibition
preventing such acceleration in respect of the Guaranteed Obligations guaranteed hereby, and (ii)&nbsp;in the event of any declaration of acceleration of such Guaranteed Obligations as provided in Article&nbsp;6, such Guaranteed Obligations (whether
or not due and payable) shall forthwith become due and payable by such Guarantor for the purposes of this Section&nbsp;10.01. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) Each Guarantor also agrees to pay any and all costs and expenses (including reasonable attorneys&#146; fees and expenses)
incurred by the Trustee or any Holder in enforcing any rights under this Section&nbsp;10.01. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) [Reserved]. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) To the fullest extent permitted by applicable law but subject to the limitations set out in Section&nbsp;10.02 below, each
Guarantor waives any defense based on or arising out of any defense of the Issuer or any other Guarantor or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of
the Issuer or any other Guarantor, other than the payment in full in cash of all the Guaranteed Obligations. Subject to the limitations set out in Section&nbsp;10.02 below, the Trustee (acting at the direction of the Holders pursuant to
Section&nbsp;6.05) may, in accordance with the terms of this Indenture, compromise or adjust any part of the Guaranteed Obligations, make any other accommodation with the Issuer or any Guarantor or exercise any other right or remedy available to it
against the Issuer or any other Guarantor, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Guaranteed Obligations have been paid in full in cash. To the fullest extent permitted by
applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such
Guarantor against the Issuer or any other Guarantor, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.02 <U>Limitation on Liability</U>. (a)&nbsp;Any term
or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations guaranteed hereunder by any Guarantor shall not exceed the maximum amount that can be hereby guaranteed without
(i)&nbsp;rendering this Indenture, as it relates to such Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally or (ii)&nbsp;resulting in any
breach of corporate benefit, financial assistance, fraudulent preference, thin capitalization laws, retention of title claims, capital maintenance rules, general statutory limitations, or the laws or regulations (or analogous restrictions) of any
applicable jurisdiction or any similar principles which may limit the ability of any Foreign Subsidiary to provide a Guarantee or may require that the Guarantee be limited by an amount or scope or otherwise. Each Guarantor, and by its acceptance of
Securities, each Holder, hereby confirms that it is the intention of all such parties that the Guarantee of such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Guarantor not constitute a fraudulent conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to
the extent applicable to any Guarantee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) (i) To the extent that any Guarantee is granted by a German entity (a
&#147;German Guarantor&#148;) incorporated as a limited liability company (<I>Gesellschaft mit beschr&auml;nkter Haftung</I>) (&#147;GmbH&#148;) or a limited partnership (<I>Kommanditgesellschaft</I>) (&#147;KG&#148;) with a limited liability
company as sole general partner (&#147;GmbH&nbsp;&amp; Co. KG&#148;) and that such Guarantee secures liabilities other than the own liabilities of the relevant German Guarantor or any of its subsidiaries, the Guarantee will be limited to such amount
(I)&nbsp;as is required to ensure that the amount of the German Guarantor&#146;s net assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG), calculated as the sum of the balance sheet positions shown
under section 266 sub-section (2)&nbsp;(A), (B), (C)&nbsp;and (D)&nbsp;of the German Commercial Code (<I>Handelsgesetzbuch</I>) (&#147;HGB&#148;) less the sum of the amounts shown under balance sheet positions shown under section 266 (3)&nbsp;(B),
(C), (D)&nbsp;and (E)&nbsp;HGB and any amounts not available for distribution to its shareholders in accordance with section 268 sub-section (8)&nbsp;HGB, does not fall below the amount of its registered share capital (<I>Stammkapital</I>); or (II)
where the amount of the German Guarantor&#146;s net assets (or the net assets of its general partner if the German Guarantor is a GmbH&nbsp;&amp; Co. KG) already is below the amount of its registered share capital, as is required as to ensure that
such amount is not further reduced. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) The limits in clauses (I)&nbsp;and (II) of Section&nbsp;10.02(b)(i) will not
apply (A)&nbsp;to the extent that the Guarantees of the relevant German Guarantor relate to the relevant German Guarantor&#146;s Indirect Borrowings; (B)&nbsp;if following the first date upon which the relevant German Guarantor is called upon to
make payment in respect of its Guarantee, the relevant German Guarantor (or its general partner if the relevant German Guarantor is a limited partnership) does not provide financial statements in accordance with Section&nbsp;10.02(b)(iv) and
(v)&nbsp;below; (C)&nbsp;if the relevant German Guarantor (or, if the German Guarantor is a GmbH&nbsp;&amp; Co. KG, its general partner) (as dominated entity) is party to a domination and/or profit and loss transfer agreement (<I>Beherrschungs-
und/oder Gewinnabf&uuml;hrungsvertrag</I>) (a &#147;<U>DPTA</U>&#148;), unless the Guarantor&#146;s claim for absorption of losses pursuant to section 302 German Stock Corporation Act (<I>Aktiengesetz</I>) is or cannot be expected to be fully
recoverable (unless a higher or supreme court has found by way of a final judgment that the requirement of a fully recoverable counterclaim is not applicable if a DPTA is in place); or (D)&nbsp;if and to the extent the German Guarantor holds on the
date of enforcement of the guarantee made herein a fully recoverable indemnity claim or claim for refund (<I>vollwertiger Gegenleistungs- oder R&uuml;ckgew&auml;hranspruch</I>) against its shareholder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) If, following a legislative amendment of, or the rendering of a final judgment by the Federal High Court of Justice with
respect to, section 30 et seq. German Limited Liability Companies Act (<I>Gesetz betreffend die Gesellschaften mit beschrankter Haftung</I>) (&#147;GmbHG&#148;) after the date of this Indenture, the German Guarantor submits reasonably satisfactory
evidence that the exception referred to in clause (C)&nbsp;of Section&nbsp;10.02(b)(ii) above is no longer required to protect the management of the German Guarantor from personal liability under sections 30 et seq. and 43 GmbHG, such clause
(C)&nbsp;shall no longer apply. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the purpose of the calculation of the net assets of a German Guarantor,
the following balance sheet items shall be adjusted as follows: (A)&nbsp;the amount of any increase of the German Guarantor&#146;s or its general partner&#146;s registered share capital after the date of this Indenture, to the extent that it is not
fully paid up, shall be deducted from the German Guarantor&#146;s or its general partner&#146;s registered share capital; (B)&nbsp;loans provided to the German Guarantor or its general partner by the Issuer or any Guarantor shall be disregarded if
and to the extent those loans are subordinated or are considered subordinated pursuant to section 39 para. 1 no. 5 and/or para. 2 of the German Insolvency Code (<I>Insolvenzordnung &#150; InsO</I>); and (C)&nbsp;loans or other liabilities incurred
in violation of the provisions of this Indenture shall be disregarded. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) For the purpose of the calculation of the net
assets, the relevant German Guarantor will deliver (within 15 Business Days following the first date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee) to the Trustee a notification stating to which
extent the amount payable in respect of its Guarantee shall be limited in accordance with clauses (b)(i)(I) and (b)(i)(II) of this Section&nbsp;10.02 above and taking into account the adjustments in clause (b)(iv) of this Section&nbsp;10.02 above,
such notification to be supported by interim financial statements (<I>Stichtagsbilanz</I>) showing the balance sheet positions mentioned in clause (b)(i)(I) above as of the relevant date (the &#147;Management Determination&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Following the Trustee&#146;s receipt of the Management Determination, upon the Trustee&#146;s request (acting at the
direction of the Holders pursuant to Section&nbsp;6.05 hereof) (the &#147;<U>Trustee&#146;s Request</U>&#148;), the relevant German Guarantor (or its general partner if the relevant German Guarantor is a limited partnership) will deliver (within 25
Business Days following receipt of the Trustee&#146;s Request) to the Trustee an up-to-date balance sheet drawn-up by a firm of auditors of international standing and repute together with a determination of the net assets. Such balance sheet and
determination of net assets shall be prepared in accordance with accounting principles pursuant to the German Commercial Code and be based on the same principles that were applied when establishing the previous year&#146;s balance sheet. The
determination by the auditors (as set forth above, the &#147;Auditors&#146; Determination&#148;) pertaining to the relevant German Guarantor or, in the case of a GmbH&nbsp;&amp; Co. KG, its general partner shall have been prepared as of the first
date upon which the relevant German Guarantor is called upon to make payment in respect of its Guarantee. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) The
Trustee (acting at the direction of the Holders pursuant to Section&nbsp;6.05) shall be entitled to demand payment under the Guarantee in an amount which would, in accordance with the Management Determination or, if applicable and taking into
account any previous enforcement in accordance with the Management Determination, the Auditors&#146; Determination, not cause the German Guarantor&#146;s net assets (or if the German Guarantor is a limited
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
partnership, its general partner&#146;s net assets) to be reduced below zero or further reduced if already below zero. If and to the extent the net assets as determined by the Auditors&#146;
Determination are lower than the amount enforced in accordance with the Management Determination, the Trustee shall release to the relevant German Guarantor (or if the German Guarantor is a limited partnership, to its general partner) such exceeding
enforcement proceeds. The Trustee may (acting at the direction of the Holders pursuant to Section&nbsp;6.05) withhold any amount received pursuant to an enforcement of this guarantee until final determination of the amount of the net assets pursuant
to the Auditors&#146; Determination. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) In a situation where the relevant German Guarantor does not have sufficient
net assets to maintain its registered share capital the relevant German Guarantor shall within three months after a written request by the Trustee (acting at the direction of the Holders pursuant to Section&nbsp;6.05), to the extent commercially
justifiable, dispose of all assets which are not necessary for its business (<I>nicht betriebsnotwendig</I>) on market terms where the relevant assets are shown in the balance sheet of the relevant German Guarantor with a book value which is
significantly lower than the market value of such assets. After the expiry of such three-month period the German Guarantor shall, within three Business Days, notify the Trustee of the amount of the net proceeds from the sale and submit a statement
with a new calculation of the amount of the net assets of the German Guarantor (or if the German Guarantor is a limited partnership, of its general partner) taking into account such proceeds. Such calculation shall, upon the Trustee&#146;s request
(acting at the direction of the Holders pursuant to Section&nbsp;6.05), be confirmed by one of the auditors of the German Guarantor within a period of 15 Business Days following the request. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) (i) Subject to clause (v)&nbsp;below and notwithstanding any contrary indication in this Indenture, in relation to a
Guarantor organized under the laws of France (a &#147;French Guarantor&#148;), its Guarantee shall be limited to the payment obligations of the Issuer up to an amount equal to the aggregate of all outstanding amounts issued directly by the Issuer
under this Indenture or indirectly (through an issuance (an &#147;Indirect Issuance&#148;) by the Issuer of Add-On Securities under this Indenture) and to the extent on-lent directly or indirectly to, or used to refinance any indebtedness previously
on-lent directly or indirectly to, such French Guarantor and/or its Subsidiaries and in all cases to the extent of the amounts so on-lent remaining due by such French Guarantor and/or its Subsidiaries from time to time (the &#147;Maximum Guaranteed
Amount&#148;); it being specified that any payment made by such French Guarantor under this Article 10 in respect of the obligations of the Issuer shall reduce <I>pro tanto</I> the outstanding amount of the intercompany loans (if any) due by such
French Guarantor to the Issuer under such Indirect Issuance. For the avoidance of doubt, any payment made by a French Guarantor under this clause (B)&nbsp;shall reduce the Maximum Guaranteed Amount by the amount paid. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) It is acknowledged that, notwithstanding any provision to the contrary in this Indenture, no French Guarantor is acting
jointly and severally with the other Guarantors and no French Guarantor shall therefore be considered as &#147;<I>co-d&eacute;biteurs solidaires</I>&#148; within the meaning of article 1216 of the French <I>Code civil</I> with the other Guarantors
as to its Guarantee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) For the purpose of Section&nbsp;10.02(c)(i) above &#147;Subsidiary&#148;
means, in relation to any company, any other company which is controlled by it within the meaning of article L.233-3 of the French Code de commerce. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) For the avoidance of doubt, the limitations set out in Section&nbsp;10.02(c)(i) and Section&nbsp;10.02(c)(ii) above with
respect to the payment obligation of any French Guarantor under the Guarantee shall apply mutatis mutandis with respect to any other indemnity, guarantee or any other undertaking of any French Guarantor contained in this Indenture having the same or
a similar effect. Any payment made by a French Guarantor under any such indemnity, guarantee or undertaking shall reduce the Maximum Guaranteed Amount by the amount paid. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding any other provision to the contrary, no French Guarantor shall grant a Guarantee covering any Indebtedness
which would result in such French Guarantor not complying with French financial assistance rules as set out in article L. 225-216 of the French Code de Commerce or any other law or regulations having the same effect, as interpreted by French courts
and/or would constitute a misuse of corporate assets within the meaning of articles L. 241-3, L. 242-6 or L. 244-1 of the French Code de Commerce or any other law or regulations having the same effect, as interpreted by French courts. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) (i) Notwithstanding any contrary indication in this Indenture, in relation to a Guarantor organized under the laws of
Switzerland (a &#147;Swiss Guarantor&#148;), its Guarantee and any other indemnity, security or other benefit, as well as any other undertaking contained in this Indenture having the same or a similar effect, such as, but not limited to, the waiver
of set-off or subrogation rights or the subordination of intra-group claims, under this Indenture and the Securities for, or with respect to, obligations of any other obligor (other than the direct or indirect Subsidiaries of such Swiss Guarantor)
shall not exceed at any time the amount of such Swiss Guarantor&#146;s freely disposable equity in accordance with Swiss law, presently being the total shareholder equity less the total of (A)&nbsp;the aggregate share capital and (B)&nbsp;statutory
reserves (including reserves for own shares and revaluations as well as agio). The amount of equity freely disposable shall be determined on the basis of an audited annual or interim balance sheet of the relevant Swiss Guarantor. This limitation
shall only apply to the extent it is a requirement under applicable law at the time the respective Swiss Guarantor is required to perform. Such limitation shall not free the respective Swiss Guarantor from its obligations in excess of the freely
disposable equity, but merely postpone the performance date therefor until such times as performance is again permitted notwithstanding such limitation. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) If so required under applicable law (including double tax treaties) at the time it is required to make a payment under
this Indenture, each Swiss Guarantor: (A)&nbsp;may deduct the withholding tax due under the Swiss Federal Act on the Withholding Tax (the &#147;Withholding Tax&#148;) at the rate of 35&nbsp;per cent (or such other rate as is in force at that time)
from any payment deemed to be a constructive dividend; (B)&nbsp;may pay the Withholding Tax to the Swiss Federal Tax Administration; and (C)&nbsp;shall notify and provide evidence to the Trustee that the Withholding Tax has been paid to the Swiss
Federal Tax Administration. The </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
respective Swiss Guarantor shall as soon as possible after the deduction of the Withholding Tax ensure that any Person which is, as a result of a payment under this Indenture, entitled to a full
or partial refund of the Withholding Tax, is in a position to apply for such refund under any applicable law (including double tax treaties) and, in case it has received any refund of the Withholding Tax, pay such refund to the Trustee for the
benefit of the Holders upon receipt thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Each Swiss Guarantor shall, and any shareholder of such Swiss Guarantor
being a party hereto shall procure that such Swiss Guarantor will, take and cause to be taken all and any other action, including without limitation, (A)&nbsp;preparation of an up-to-date audited balance sheet of such Swiss Guarantor, (B)&nbsp;the
passing of any shareholders&#146; resolutions to approve any payment or other performance under this Indenture or the Securities and (C)&nbsp;the obtaining of any confirmations (including confirmations by the respective Swiss Guarantor&#146;s
auditors) which may be required as a matter of Swiss mandatory law in force at the time the respective Swiss Guarantor is required to make a payment or perform other obligations under this Indenture or the Securities in order to allow a prompt
payment as well as the performance of other obligations under this Indenture or the Securities with a minimum of limitations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) If the enforcement of obligations of a Swiss Guarantor would be limited due to the effects referred to in this clause, the
Swiss Guarantor affected shall further, to the extent permitted by applicable law and Swiss accounting standards, write up any of its assets that are shown in its balance sheet with a book value that is significantly lower than the market value of
the assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.03 <U>Automatic Termination of Guarantees</U>. A Guarantee as to any Guarantor shall automatically terminate and
be of no further force or effect and such Guarantor shall automatically be deemed to be released from all obligations under this Article&nbsp;10 upon: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (A) the sale, disposition or other transfer (including through merger or consolidation) of (x)&nbsp;the Capital Stock of
the applicable Guarantor to a Person who is not (either before or after giving effect to the transaction) the Issuer or a Restricted Subsidiary of the Issuer, following which the applicable Guarantor is no longer a Restricted Subsidiary or
(y)&nbsp;all or substantially all of the assets of such Guarantor, in each case, if such sale, disposition or other transfer is not prohibited by this Indenture, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Issuer designating such Guarantor to be an Unrestricted Subsidiary in accordance with the provisions set forth under
Section&nbsp;4.04 and the definition of &#147;Unrestricted Subsidiary,&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) in the case of any Restricted Subsidiary
that after the Issue Date is required to guarantee the Securities pursuant to Section&nbsp;4.11, the release or discharge of the guarantee by such Restricted Subsidiary of the Indebtedness of the Issuer or any Guarantor, as the case may be, or the
repayment of the Indebtedness or Disqualified Stock, in each case, which resulted in the obligation to guarantee the Securities, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) the Issuer&#146;s exercise of its defeasance option under Article 8, or if the Issuer&#146;s obligations under this
Indenture are discharged in accordance with the terms of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In connection with the termination of any Guarantee pursuant to this Section&nbsp;10.03, the
Trustee shall execute and deliver to the Issuer and any Guarantor, at the Issuer or such Guarantor&#146;s expense, all documents that the Issuer or such Guarantor shall reasonably request to evidence such termination; provided, however, that the
Trustee shall be entitled to receive an Officer&#146;s Certificate and an Opinion of Counsel regarding such release before executing and delivering such documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.04 <U>Successors and Assigns</U>. This Article 10 shall be binding upon each Guarantor and its successors and assigns and shall
inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in
the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.05 <U>No Waiver</U>. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power
or privilege under this Article 10 shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the
Holders herein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Article 10 at law, in equity, by statute or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.06 <U>Modification</U>. No modification, amendment or waiver of any provision of this Article 10, nor the consent to any departure
by any Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee (acting in accordance with the terms and conditions of this Indenture), and then such waiver or consent shall be effective only
in the specific instance and for the purpose for which given. No notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other or further notice or demand in the same, similar or other circumstances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.07 <U>Execution of Supplemental Indenture for Future Guarantors</U>. Each Subsidiary and other Person which is required to become a
Guarantor pursuant to Section&nbsp;4.11 shall promptly execute and deliver to the Trustee a supplemental indenture in the form of Exhibit B hereto pursuant to which such Subsidiary or other Person shall become a Guarantor under this Article 10 and
shall guarantee the Guaranteed Obligations. Concurrently with the execution and delivery of such supplemental indenture, the Issuer shall deliver to the Trustee an Officer&#146;s Certificate to the effect that such supplemental indenture has been
duly authorized, executed and delivered by such Subsidiary or other Person and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws relating to creditors&#146; rights
generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of such Guarantor is a valid and binding obligation of such Guarantor, enforceable against such Guarantor in accordance with its terms.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 10.08 <U>Non-Impairment</U>. The failure to endorse a Guarantee on any Security shall not affect or impair the validity thereof.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE 11 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MISCELLANEOUS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION
11.01 <U>Ranking</U>. The indebtedness evidenced by the Securities will be unsecured senior Indebtedness of the Issuer, equal in right of payment to all existing and future senior Indebtedness of the Issuer and senior in right of payment to all
existing and future Subordinated Indebtedness of the Issuer. The indebtedness evidenced by the Guarantees will be unsecured senior Indebtedness of the applicable Guarantor, equal in right of payment to all existing and future senior Indebtedness of
such Guarantor and senior in right of payment to all existing and future Subordinated Indebtedness of such Guarantor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.02
<U>[Reserved]</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.03 <U>Notices</U>. (a)&nbsp;Any notice or communication required or permitted hereunder shall be in writing
and in English and delivered in person, via facsimile or mailed by first-class mail addressed as follows: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="73%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">if to the Issuer or a Guarantor:</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Constellium
N.V.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tupolevlaan 41-61</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1119 NW Schiphol-Rijk</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amsterdam, Netherlands</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax: +31 20 654 97 96</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mark.kirkland@constellium.com</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With a copy to</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Constellium</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington Plaza &#150; 40/44, rue Washington</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">75008 Paris, France</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Jeremy Leach</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: +33 1 73 01 46 51</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: jeremy.leach@constellium.com</P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Constellium Switzerland A.G.</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Max H&ouml;gger-Strasse 6</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8048 Z&uuml;rich, Switzerland</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Mark Kirkland, Group Treasurer</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: +41 44 438 6642</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;mark.kirkland@constellium.com</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">And</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wachtell, Lipton, Rosen&nbsp;&amp; Katz</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">51 West 52<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP> Street</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">New York, NY 10019</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="73%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Josh A. Feltman</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tel: (212) 403-1109</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax: (212) 403-2109</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;jafeltman@wlrk.com</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">if to the Trustee:</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deutsche Bank Trust Company Americas</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">60 Wall Street, 16th Floor</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mail Stop: NYC60-1630</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10005</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Corporates Team Deal Manager &#150; Constellium N.V.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax:
732-578-4635</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With a copy to:</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deutsche Bank Trust Company Americas</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">c/o Deutsche Bank National
Trust Company</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Trust&nbsp;&amp; Agency Services</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 Plaza One,
Mailstop JCY03-0699</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Jersey City, New Jersey 07311</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn:
Corporates Team Deal Manager &#150; Constellium N.V.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax: 732-578-4635</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">if to the Principal Paying Agent:</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deutsche Bank AG, London
Branch</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Winchester House</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">1 Great Winchester Street</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">London EC2N 2DB</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United Kingdom</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention of: Debt&nbsp;&amp; Agency Services</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Facsimile: +44
(0)&nbsp;20 7547 6149</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">if to the Registrar and Transfer Agent:</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Deutsche Bank Luxembourg S.A.</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2, boulevard Konrad Adenauer</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">L-1115 Luxembourg</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention of: Lux Registrar</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Facsimile: +352473136</P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Issuer or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or
communications. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Any notice or communication mailed to a Holder shall be mailed, first class mail, to the Holder at the
Holder&#146;s address as it appears on the registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to
other Holders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee receives it, except that notices to the Trustee are effective only if received. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.04 <U>[Reserved]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.05 <U>Certificate and Opinion as to Conditions Precedent</U>. Upon any request or application by the Issuer to the Trustee to take
or refrain from taking any action under this Indenture, the Issuer shall furnish to the Trustee at the request of the Trustee: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) an Officer&#146;s Certificate in form reasonably satisfactory to the Trustee stating that, in the opinion of the signers,
all conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) an Opinion of Counsel in form reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such
conditions precedent have been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.06 <U>Statements Required in Certificate or Opinion</U>. Each certificate or
opinion with respect to compliance with a covenant or condition provided for in this Indenture (other than pursuant to Section&nbsp;4.09) shall include: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) a statement that the individual making such certificate or opinion has read such covenant or condition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) a statement that, in the opinion of such individual, he has made
such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) a statement as to whether or not, in the opinion of such individual, such covenant or condition has been complied with;
<I>provided</I>, <I>however</I>, that with respect to matters of fact an Opinion of Counsel may rely on an Officer&#146;s Certificate or certificates of public officials. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.07 <U>When Securities Disregarded</U>. In determining whether the Holders of the required principal amount of Securities have
concurred in any direction, waiver or consent, Securities owned by the Issuer, any Guarantor or by any Person directly or indirectly controlling or controlled by or under direct or indirect common control with the Issuer or any Guarantor shall be
disregarded and deemed not to be outstanding, except that, for the purpose of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which a Responsible Officer of the Trustee actually
knows are so owned shall be so disregarded. Subject to the foregoing, only Securities outstanding at the time shall be considered in any such determination. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.08 <U>Rules by Trustee, Paying Agent and Registrar</U>. The Trustee may make
reasonable rules for action by or a meeting of the Holders. The Registrar and a paying agent may make reasonable rules for their functions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.09 <U>Legal Holidays</U>. If a payment date is not a Business Day, payment shall be made on the next succeeding day that is a
Business Day, and no interest shall accrue on any amount that would have been otherwise payable on such payment date if it were a Business Day for the intervening period. If a regular record date is not a Business Day, the record date shall not be
affected. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.10 <U>GOVERNING LAW</U>. THIS INDENTURE, THE SECURITIES AND THE GUARANTEES SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.11 <U>Consent to
Jurisdiction and Service</U>. In relation to any legal action or proceedings arising out of or in connection with this Indenture, the Securities and the Guarantees, the Trustee (in the case of clauses (a)&nbsp;and (b)&nbsp;below only), the Issuer
and each Guarantor that is organized under laws other than the United States or a state thereof (a)&nbsp;irrevocably submits to the jurisdiction of the federal and state courts in the Borough of Manhattan in the City, County and State of New York,
United States, (b)&nbsp;consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or
proceeding was brought in an inconvenient court and agree not to plead or claim the same, (c)&nbsp;designates and appoints Constellium U.S. Holdings I, LLC, 830 Third Avenue, 9th floor, New York, NY 10022 as its authorized agent upon which process
may be served in any such action or proceeding that may be instituted in any such court and (d)&nbsp;agrees that service of any process, summons, notice or document by U.S. registered mail addressed to such agent for service of process, with written
notice of said service to such Person at the address of the agent for service of process set forth in clause (c)&nbsp;of this Section&nbsp;11.11 shall be effective service of process for any such action or proceeding brought in any such court. Each
of the Issuer, the Guarantors, the Trustee, paying agent and Registrar hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this
Indenture, the Securities or the transactions contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.12 <U>Currency Indemnity</U>. The Euro is the sole currency
of account and payment for all sums payable by the Issuer or any Guarantor under or in connection with the Securities, including damages. Any amount with respect to the Securities or the Guarantees thereof received or recovered in a currency other
than Euro, whether as a result of, or the enforcement of, a judgment or order of a court of any jurisdiction, in the winding-up or dissolution of the Issuer or any Guarantor or otherwise by any Holder or by the Trustee, in respect of any sum
expressed to be due to it from the Issuer or any Guarantor will only constitute a discharge to the Issuer or any Guarantor to the extent of the Euro amount that the recipient is able to purchase with the amount so received or recovered in such other
currency on the date of such receipt or recovery (or, if it is not practicable to make such purchase on such date, on the first date on which it is practicable to do so). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If that Euro amount is less than the Euro amount expressed to be due to the recipient or the
Trustee under the Securities, the Issuer and each Guarantor will indemnify such recipient and/or the Trustee against any loss sustained by it as a result. In any event, the Issuer and each Guarantor will indemnify the recipient against the cost of
making any such purchase. For the purposes of this Section&nbsp;11.12, it shall be prima facie evidence of the matter stated therein, for the Holder of a Security or the Trustee to certify in a manner satisfactory to the Issuer (indicating the
sources of information used) the loss it incurred in making any such purchase. These indemnities constitute a separate and independent obligation from the Issuer&#146;s and each Guarantor&#146;s other obligations, shall give rise to a separate and
independent cause of action, shall apply irrespective of any waiver granted by any Holder of a Security or the Trustee (other than a waiver of the indemnities set out herein) and will continue in full force and effect despite any other judgment,
order, claim or proof for a liquidated amount in respect of any sum due under any Security or to the Trustee. For the purposes of this Section&nbsp;11.12, it shall be sufficient for the Trustee or the Holder, as applicable, to certify (indicating
the sources of information used) that it would have suffered a loss had the actual purchase of Euro been made with the amount so received in that other currency on the date of receipt or recovery (or, if a purchase of Euro on such date had not been
practicable due to current market conditions generally, on the first date on which it would have been practicable, it being required that the need for a change of date be certified in the manner mentioned above). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.13 <U>No Recourse Against Others</U>. No director, officer, employee, manager or incorporator of, or holder of any Equity Interests
in, the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuer under the Securities or this Indenture or for any claim based on, in respect of, or by reason of, such obligations or
their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.14 <U>Successors</U>. All agreements of the Issuer and each Guarantor in this Indenture and the Securities shall bind its
successors. All agreements of the Trustee in this Indenture shall bind its successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.15 <U>USA PATRIOT Act</U>. In order to
comply with the laws, rules, regulations and executive orders in effect from time to time applicable to banking institutions, including, without limitation, those relating to the funding of terrorist activities and money laundering, including
Section&nbsp;326 of the USA PATRIOT Act of the United States (&#147;Applicable Law&#148;), the Trustee and agents are required to obtain, verify, record and update certain information relating to individuals and entities which maintain a business
relationship with the Trustee and agents. Accordingly, each of the parties agree to provide to the Trustee and agents, upon their request from time to time such identifying information and documentation as may be available for such party in order to
enable the Trustee and agents to comply with Applicable Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.16 <U>Multiple Originals</U>. The parties may sign any number of
copies of this Indenture by manual, facsimile, pdf or other electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. One signed copy is enough to prove this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">113 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.17 <U>Table of Contents; Headings</U>. The table of contents, cross-reference sheet
and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not intended to be considered a part hereof and shall not modify or restrict any of the terms or provisions hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.18 <U>Indenture Controls</U>. If and to the extent that any provision of the Securities limits, qualifies or conflicts with a
provision of this Indenture, such provision of this Indenture shall control. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION 11.19 <U>Severability</U>. In case any provision in
this Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby and such provision shall be ineffective only to the extent of such
invalidity, illegality or unenforceability. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[<I>Signature Pages Follow</I>] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">114 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this Indenture to be duly executed as of the date
first written above. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM N.V.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B><U>GUARANTORS</U></B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM HOLDCO II B.V.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM US HOLDINGS I, LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rina E. Teran</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rina E. Teran</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: VP &amp; Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FRANCE HOLDCO S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM GERMANY HOLDCO GMBH&nbsp;&amp; CO. KG</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM SWITZERLAND AG</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>CONSTELLIUM ROLLED PRODUCTS &#150; RAVENSWOOD, LLC</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rina E. Teran</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rina E. Teran</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: VP &amp; Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM DEUTSCHLAND GMBH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM SINGEN GMBH</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FRANCE S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>CONSTELLIUM FINANCE S.A.S.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jeremy Leach</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Jeremy Leach</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK TRUST COMPANY AMERICAS, as Trustee</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>By: DEUTSCHE BANK NATIONAL TRUST COMPANY</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rodney Gaughan</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Rodney Gaughan</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert S. Peschler</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Robert S. Peschler</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK AG, LONDON BRANCH, as Principal Paying Agent</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mahen Surnam</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Mahen Surnam</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: VP</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ David Contino</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: David Contino</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>DEUTSCHE BANK LUXEMBOURG S.A., as Registrar and Transfer Agent</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ F. Hopkinson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: F. Hopkinson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Attorney</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mahen Surnam</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Mahen Surnam</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Attorney</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[U.S.
D<SMALL>OLLAR</SMALL> N<SMALL>OTES</SMALL> I<SMALL>NDENTURE</SMALL>] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">APPENDIX A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>PROVISIONS RELATING TO ORIGINAL SECURITIES AND ADD-ON SECURITIES </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Definitions</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1. <U>Definitions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">For the purposes of this Appendix A the following terms shall have the meanings indicated below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Common Depositary&#148; means a depositary common to Euroclear and Clearstream, being initially Deutsche Bank AG, London branch, until
a successor Common Depositary, if any, shall have become such pursuant to this Indenture, and thereafter Common Depositary shall mean or include each Person who is then a Common Depositary hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Definitive Security&#148; means a certificated Security (bearing the Restricted Securities Legend if the transfer of such Security is
restricted by applicable law) that does not include the Global Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman"><I></I>&#147;Depository&#148; means Euroclear Bank
SA/NV (&#147;Euroclear&#148;) and for Clearstream Banking, <I>soci&eacute;t&eacute; anonyme </I>(&#147;Clearstream&#148;), its nominees and their respective successors.<I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Global Securities Legend&#148; means the legend set forth under that caption in the applicable Exhibit to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;IAI&#148; means an institutional &#147;accredited investor&#148; as described in Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the
Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Initial Purchasers&#148; means Deutsche Bank Securities Inc., Goldman, Sachs&nbsp;&amp; Co., BNP Paribas,
Soci&eacute;t&eacute; G&eacute;n&eacute;rale, HSBC Bank plc, Mediobanca &#150; Banca di Credito Finanziario S.p.A., Morgan Stanley&nbsp;&amp; Co. LLC, Natixis Securities Americas LLC and such other initial purchasers listed on Schedule A to the
Purchase Agreement entered into in connection with the offer and sale of the Securities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;QIB&#148; means a &#147;qualified
institutional buyer&#148; as defined in Rule 144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S&#148; means Regulation S under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Regulation S Securities&#148; means all Securities offered and sold outside the United States in reliance on Regulation&nbsp;S. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Period,&#148; with respect to any Securities, means the period of 40 consecutive days beginning on and including the later
of (a)&nbsp;the day on which such Securities are first offered to persons other than distributors (as defined in Regulation S under the Securities Act) in reliance on Regulation S, notice of which day shall be promptly given by the Issuer to the
Trustee, and (b)&nbsp;the Issue Date, and with respect to any Add-On Securities that are Transfer Restricted Securities, it means the comparable period of 40 consecutive days. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Restricted Securities Legend&#148; means the legend set forth in Section&nbsp;2.2(f)(i)
herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 501&#148; means Rule 501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A&#148; means Rule 144A under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Rule 144A Securities&#148; means all Securities offered and sold to QIBs in reliance on Rule 144A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Transfer Restricted Securities&#148; means Definitive Securities and any other Securities that bear or are required to bear or are
subject to the Restricted Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Definitive Security&#148; means Definitive Securities and any other
Securities that are not required to bear, or are not subject to, the Restricted Securities Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">&#147;Unrestricted Global
Security&#148; means a Global Security which is not a Restricted Global Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2. <U>Other Definitions</U>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP><U>Term</U>:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"><U>Defined&nbsp;in&nbsp;Section</U>:</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Regulation S Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Rule 144A Global Securities</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.1(b)(i)</TD></TR>
</TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>The Securities</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1. <U>Form and Dating; Global Securities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Original Securities issued on the date hereof will be (i)&nbsp;offered and sold by the Issuer pursuant to the Purchase Agreement and
(ii)&nbsp;resold, initially only to (1)&nbsp;QIBs in reliance on Rule 144A and (2)&nbsp;Persons other than U.S. Persons (as defined in Regulation S) in reliance on Regulation S. Such Original Securities may thereafter be transferred to, among
others, QIBs, purchasers in reliance on Regulation S and, except as set forth below, IAIs in accordance with Rule 501. Add-On Securities offered after the date hereof may be offered and sold by the Issuer from time to time pursuant to one or more
purchase agreements in accordance with applicable law. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Global Securities</U>. (i)&nbsp;Rule 144A Securities initially shall be
represented by one or more Securities in definitive, fully registered, global form without interest coupons (collectively, the &#147;Rule 144A Global Securities&#148;). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Regulation S Securities initially shall be represented by one or more Securities in fully registered, global form without
interest coupons (collectively, the &#147;Regulation S Global Securities&#148;), which shall be registered in the name of the Common Depositary or the nominee of the Common Depositary for the accounts of designated agents holding on behalf of
Euroclear or Clearstream. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Restricted Period shall be terminated upon the receipt by the Trustee and
the paying agent of: (1)&nbsp;a written certificate from the Depository, together with copies of certificates from Euroclear and Clearstream certifying that they have received certification of non-United States beneficial ownership of 100% of the
aggregate principal amount of the Regulation S Temporary Global Security (except to the extent of any beneficial owners thereof who acquired an interest therein during the Restricted Period pursuant to another exemption from registration under the
Securities Act and who shall take delivery of a beneficial ownership interest in a 144A Global Security bearing a Private Placement Legend, all as contemplated by this Appendix A); and (2)&nbsp;upon certification in form reasonably satisfactory to
the Trustee and the paying agent. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The provisions of the &#147;Operating Procedures of the Euroclear System&#148; and
&#147;Terms and Conditions Governing Use of Euroclear&#148; and the &#147;General Terms and Conditions of Clearstream Banking&#148; and &#147;Customer Handbook&#148; of Clearstream shall be applicable to transfers of beneficial interests in the
Global Securities that are held by participants through Euroclear or Clearstream. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">The term &#147;Global Securities&#148;
means the Rule 144A Global Securities and the Regulation S Global Securities. The Global Securities shall bear the Global Security Legend. The Global Securities initially shall (i)&nbsp;be registered in the name of the Common Depositary or the
nominee of such Depository, in each case for credit to an account of an Agent Member, (ii)&nbsp;be delivered to the Common Depositary and (iii)&nbsp;bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Members of, or direct or indirect participants in, the Depository shall have no rights under this Indenture with respect
to any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Securities. The Depository may be treated by the Issuer, the Trustee and any agent of the Issuer or the Trustee as the absolute owner
of the Global Securities for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Issuer, the Trustee or any agent of the Issuer or the Trustee from giving effect to any written certification, proxy or other
authorization furnished by the Depository, or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights of a Holder of any Security. Transfers of Global Securities shall be
limited to transfer in whole, but not in part, to the Depository, its successors or their respective nominees. Interests of beneficial owners in the Global Securities may be transferred or exchanged for Definitive Securities only if (x)&nbsp;the
Depository (1)&nbsp;notifies the Issuer that it is unwilling or unable to continue as depository for such Global Security and the Issuer thereupon fails to appoint a successor depository or (2)&nbsp;the Issuer, at its option, notifies the Trustee
and applicable paying agent in writing that it elects to cause the issuance of certificated Securities or (y)&nbsp;there shall have occurred and be continuing an Event of Default with respect to such Global Security; provided that in no event shall
the Regulation S Global Securities be exchanged by the Issuer for Definitive Securities prior to (x)&nbsp;the expiration of the Restricted Period and (y)&nbsp;the receipt by the Registrar of any certificates required pursuant to Rule
903(b)(3)(ii)(B) under the Securities Act. In all cases, Definitive Securities delivered in exchange for any Global Security or beneficial interests therein shall be registered in the names, and issued in any approved denominations, requested by or
on behalf of the Depository in accordance with its customary procedures. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) In connection with the transfer of a Global Security as an entirety to
beneficial owners pursuant to subsection (i)&nbsp;of this Section&nbsp;2.1(b), such Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Issuer shall execute, and the Trustee shall authenticate and make
available for delivery, to each beneficial owner identified by the Depository in writing in exchange for its beneficial interest in such Global Security, an equal aggregate principal amount of Definitive Securities of authorized denominations. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Transfer Restricted Security delivered in exchange for an interest in a Global Security pursuant to Section&nbsp;2.2
shall, except as otherwise provided in Section&nbsp;2.2, bear the Restricted Securities Legend. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) Notwithstanding the
foregoing, through the Restricted Period, a beneficial interest in such Regulation S Global Security may be held only through Euroclear or Clearstream unless delivery is made in accordance with the applicable provisions of Section&nbsp;2.2. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) The Holder of any Global Security may grant proxies and otherwise authorize any Person, including Agent Members and
Persons that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2. <U>Transfer and Exchange</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Transfer and Exchange of Global Securities</U>. A Global Security may not be transferred as a whole except as set forth in
Section&nbsp;2.1(b). Global Securities will not be exchanged by the Issuer for Definitive Securities except under the circumstances described in Section&nbsp;2.1(b)(ii). Global Securities also may be exchanged or replaced, in whole or in part, as
provided in Sections 2.08 and 2.10 of this Indenture. Beneficial interests in a Global Security may be transferred and exchanged as provided in Section&nbsp;2.2(b) or 2.2(g). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Transfer and Exchange of Beneficial Interests in Global Securities</U>. The transfer and exchange of beneficial interests in the Global
Securities shall be effected through the Depository, in accordance with the provisions of this Indenture and the applicable rules and procedures of the Depository. Beneficial interests in Transfer Restricted Securities which are Global Securities
(&#147;Restricted Global Securities&#148;) shall be subject to restrictions on transfer comparable to those set forth herein to the extent required by the Securities Act. Beneficial interests in Global Securities shall be transferred or exchanged
only for beneficial interests in Global Securities. Transfers and exchanges of beneficial interests in the Global Securities also shall require compliance with either subparagraph (i)&nbsp;or (ii)&nbsp;below, as applicable, as well as one or more of
the other following subparagraphs, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer of Beneficial Interests in the Same Global
Security</U>. Beneficial interests in any Restricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Security in accordance with the transfer restrictions set
forth in the Restricted Securities </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><I>
</I>Legend; <I>provided</I>,<I> however</I>, that prior to the expiration of the Restricted Period, transfers of beneficial interests in a Regulation S Global Security may not be made to a U.S.
Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). A beneficial interest in an Unrestricted Global Security may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an
Unrestricted Global Security. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section&nbsp;2.2(b)(i).<I> </I></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>All Other Transfers and Exchanges of Beneficial Interests in Global Securities</U>. In connection with all transfers
and exchanges of beneficial interests in any Global Security that is not subject to Section&nbsp;2.2(b)(i), the transferor of such beneficial interest must deliver to the Registrar (1)&nbsp;a written order from an Agent Member given to the
Depository in accordance with the applicable rules and procedures of the Depository directing the Depository to credit or cause to be credited a beneficial interest in another Global Security in an amount equal to the beneficial interest to be
transferred or exchanged and (2)&nbsp;instructions given in accordance with the applicable rules and procedures of the Depository containing information regarding the Agent Member account to be credited with such increase. Upon satisfaction of all
of the requirements for transfer or exchange of beneficial interests in Global Securities contained in this Indenture and the Securities or otherwise applicable under the Securities Act, the Registrar shall adjust the principal amount of the
relevant Global Security pursuant to Section&nbsp;2.2(g). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Transfer of Beneficial Interests to Another Restricted
Global Security</U>. A beneficial interest in a Restricted Global Security may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Security if the transfer complies with the
requirements of Section&nbsp;2.2(b)(ii) above and the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transferee will take
delivery in the form of a beneficial interest in a Rule 144A Global Security, then the transferor must deliver a certificate in the form attached to the applicable Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transferee will take delivery in the form of a beneficial interest in a Regulation S Global Security, then the
transferor must deliver a certificate in the form attached to the applicable Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Transfer and Exchange of
Beneficial Interests in a Restricted Global Security for Beneficial Interests in an Unrestricted Global Security</U>. A beneficial interest in a Restricted Global Security may be exchanged by any holder thereof for a beneficial interest in an
Unrestricted Global Security or transferred to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Security if the exchange or transfer complies with the requirements of Section&nbsp;2.2(b)(ii) above
and the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the holder of such beneficial interest in a Restricted Global Security
proposes to exchange such beneficial interest for a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:21%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the holder of such beneficial interest in a Restricted Global Security proposes to transfer such beneficial interest to
a Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such holder in the form attached to the applicable Security, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and
procedures of the Depository so require, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained
herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. If any such transfer or exchange is effected pursuant to this subparagraph (iv)&nbsp;at a time when an Unrestricted Global
Security has not yet been issued, the Issuer shall issue and, upon receipt of an written order of the Issuer in the form of an Officer&#146;s Certificate in accordance with Section&nbsp;2.01, the Trustee shall, upon receipt of a Written Order,
authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred or exchanged pursuant to this subparagraph (iv). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Transfer and Exchange of Beneficial Interests in an Unrestricted Global Security for Beneficial Interests in a
Restricted Global Security</U>. Beneficial interests in an Unrestricted Global Security cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Transfer and Exchange of Beneficial Interests in Global Securities for Definitive Securities</U>. A beneficial interest in a Global
Security may not be exchanged for a Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). A beneficial interest in a Global Security may not be transferred to a Person who takes delivery thereof in the form of a
Definitive Security except under the circumstances described in Section&nbsp;2.1(b)(ii). In any case, beneficial interests in Global Securities shall be transferred or exchanged only for Definitive Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Transfer and Exchange of Definitive Securities for Beneficial Interests in Global Securities</U>. Transfers and exchanges of beneficial
interests in the Global Securities also shall require compliance with either subparagraph (i), (ii)&nbsp;or (ii)&nbsp;below, as applicable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Beneficial Interests in Restricted Global Securities</U>. If any Holder of a Transfer
Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security or to transfer such Transfer Restricted Security to a Person who takes delivery thereof in the form of a beneficial
interest in a Restricted Global Security, then, upon receipt by the Registrar of the following documentation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in a Restricted Global Security, a certificate from such Holder in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such Transfer Restricted Security is being transferred to a Qualified
Institutional Buyer in accordance with Rule 144A under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such Transfer Restricted Security is being transferred to a Non U.S. Person in an offshore transaction in accordance
with Rule 903 or Rule 904 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such Transfer Restricted Security is being transferred pursuant to an exemption from the registration requirements of
the Securities Act in accordance with Rule 144 under the Securities Act, a certificate from such Holder in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such Transfer Restricted Security is being transferred to an Institutional Accredited Investor in reliance on an
exemption from the registration requirements of the Securities Act other than those listed in subparagraphs (B)&nbsp;through (D)&nbsp;above, a certificate from such Holder in the form attached to the applicable Security, including the
certifications, certificates and Opinion of Counsel, if applicable; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such Transfer Restricted Security is being
transferred to the Issuer or a Subsidiary thereof, a certificate from such Holder in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">the
Registrar shall cancel the Transfer Restricted Security, and increase or cause to be increased the aggregate principal amount of the appropriate Restricted Global Security. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Beneficial Interests in Unrestricted Global Securities</U>. A Holder of a Transfer
Restricted Security that is a Definitive Security may exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security or transfer such Transfer Restricted Security to a Person who takes delivery thereof in the
form of a beneficial interest in an Unrestricted Global Security only if the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the
Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Transfer Restricted Securities proposes to transfer such Transfer Restricted Security to a Person
who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Security, a certificate from such Holder in the form attached to the applicable Security, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Issuer or the Registrar so requests or if the applicable rules and procedures of the Depository so require, an
Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
Restricted Securities Legend are no longer required in order to maintain compliance with the Securities Act. Upon satisfaction of the conditions of this subparagraph (ii), the Trustee shall
cancel the Transfer Restricted Securities and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Security. If any such transfer or exchange is effected pursuant to this subparagraph (ii)&nbsp;at a time when
an Unrestricted Global Security has not yet been issued, the Issuer shall issue and, upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global
Securities in an aggregate principal amount equal to the aggregate principal amount of Transfer Restricted Securities transferred or exchanged pursuant to this subparagraph (ii). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Beneficial Interests in Unrestricted Global Securities</U>. A Holder of an
Unrestricted Definitive Security may exchange such Unrestricted Definitive Security for a beneficial interest in an Unrestricted Global Security or transfer such Unrestricted Definitive Security to a Person who takes delivery thereof in the form of
a beneficial interest in an Unrestricted Global Security at any time. Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Security and increase or cause to be increased the
aggregate principal amount of one of the Unrestricted Global Securities. If any such transfer or exchange is effected pursuant to this subparagraph (iii)&nbsp;at a time when an Unrestricted Global Security has not yet been issued, the Issuer shall
issue and, upon receipt of a Written Order of the Issuer in the form of an Officer&#146;s Certificate, the Trustee shall authenticate one or more Unrestricted Global Securities in an aggregate principal amount equal to the aggregate principal amount
of Unrestricted Definitive Securities transferred or exchanged pursuant to this subparagraph (iii). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Unrestricted
Definitive Securities to Beneficial Interests in Restricted Global Securities</U>. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a beneficial interest in a
Restricted Global Security. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Transfer and Exchange of Definitive Securities for Definitive Securities</U>. Upon request by a Holder
of Definitive Securities and such Holder&#146;s compliance with the provisions of this Section&nbsp;2.2(e), the Registrar shall register the transfer or exchange of Definitive Securities. Prior to such registration of transfer or exchange, the
requesting Holder shall present or surrender to the Registrar the Definitive Securities duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly
authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section&nbsp;2.2(e). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer Restricted Securities to Transfer Restricted Securities</U>. A Transfer Restricted Security may be transferred
to and registered in the name of a Person who takes delivery thereof in the form of a Transfer Restricted Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transfer will be made pursuant to Rule 144A under the Securities Act, then the transferor must deliver a
certificate in the form attached to the applicable Security; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transfer will be made pursuant to Rule 903 or Rule 904 under the
Securities Act, then the transferor must deliver a certificate in the form attached to the applicable Security; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if
the transfer will be made pursuant to an exemption from the registration requirements of the Securities Act in accordance with Rule 144 under the Securities Act, a certificate in the form attached to the applicable Security; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if the transfer will be made to an IAI in reliance on an exemption from the registration requirements of the Securities
Act other than those listed in subparagraphs (A)&nbsp;through (D)&nbsp;above, a certificate in the form attached to the applicable Security; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such transfer will be made to the Issuer or a Subsidiary thereof, a certificate in the form attached to the applicable
Security. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Transfer Restricted Securities to Unrestricted Definitive Securities</U>. Any Transfer Restricted
Security may be exchanged by the Holder thereof for an Unrestricted Definitive Security or transferred to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Transfer Restricted Security proposes to exchange such Transfer Restricted Security for an
Unrestricted Definitive Security, a certificate from such Holder in the form attached to the applicable Security; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)
if the Holder of such Transfer Restricted Security proposes to transfer such Securities to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Security, a certificate from such Holder in the form attached to the
applicable Security, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, in each such case, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the
Issuer to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Restricted Securities Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Securities to Unrestricted Definitive Securities</U>. A Holder of an
Unrestricted Definitive Security may transfer such Unrestricted Definitive Securities to a Person who takes delivery thereof in the form of an Unrestricted Definitive Security at any time. Upon receipt of a request to register such a transfer, the
Registrar shall register the Unrestricted Definitive Securities pursuant to the instructions from the Holder thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Unrestricted Definitive
Securities to Transfer Restricted Securities</U>. An Unrestricted Definitive Security cannot be exchanged for, or transferred to a Person who takes delivery thereof in the form of, a Transfer Restricted Security. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At such time as all beneficial interests in a particular Global Security have been exchanged for Definitive Securities or a particular Global
Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with Section&nbsp;2.11 of this Indenture. At any time prior to such
cancellation, if any beneficial interest in a Global Security is exchanged </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security or for Definitive Securities, the principal amount of Securities
represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such reduction; and if the beneficial interest
is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such
Global Security by the Trustee or by the Depository at the direction of the Trustee to reflect such increase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Legend</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Except as permitted by the following paragraph (ii), (iii)&nbsp;or (iv), each Security certificate evidencing the Global
Securities and the Definitive Securities (and all Securities issued in exchange therefor or in substitution thereof) shall bear a legend in substantially the following form (each defined term in the legend being defined as such for purposes of the
legend only): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND
THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE WITH AN APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE
DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY
EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY
EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(a)&nbsp;TO A PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE
144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION
MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), SUBJECT TO THE
RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT
AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED
HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional legends: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY
REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS SECURITY (OR ITS PREDECESSOR)
WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF,
ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES
ACT.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Upon any sale or transfer of a Transfer Restricted Security that is a Definitive Security, the Registrar
shall permit the Holder thereof to exchange such Transfer Restricted Security for a Definitive Security that does not bear the legends set forth above and rescind any restriction on the transfer of such Transfer Restricted Security if the Holder
certifies in writing to the Registrar that its request for such exchange was made in reliance on Rule 144 (such certification to be in the form set forth on the reverse of the Security). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Upon a sale or transfer after the expiration of the Restricted Period of any Security acquired pursuant to Regulation S,
all requirements that such Security bear the Restricted Securities Legend shall cease to apply and the requirements requiring any such Security be issued in global form shall continue to apply. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any Add-On Securities sold in a registered offering shall not be required to bear the Restricted Securities Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Cancellation or Adjustment of Global Security</U>. At such time as all beneficial interests in a particular Global Security have been
exchanged for Definitive Securities or a particular Global Security has been redeemed, repurchased or canceled in whole and not in part, each such Global Security shall be returned to or retained and canceled by the Trustee in accordance with
Section&nbsp;2.11 of this Indenture. At any time prior to such cancellation, if any beneficial interest in a Global Security is exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another
Global Security or for Definitive Securities, the principal amount of Securities represented by such Global Security shall be reduced accordingly and an endorsement shall be made on such Global Security by the Trustee or by the Depository at the
direction of the Trustee to reflect such reduction; and if the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
form of a beneficial interest in another Global Security, such other Global Security shall be increased accordingly and an endorsement shall be made on such Global Security by the Trustee or by
the Depository at the direction of the Trustee to reflect such increase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Obligations with Respect to Transfers and Exchanges of
Securities</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) To permit registrations of transfers and exchanges, the Issuer shall execute and the Trustee shall
authenticate, Definitive Securities and Global Securities at the Registrar&#146;s request. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) No service charge shall be
made for any registration of transfer or exchange, but the Issuer may require payment of a sum sufficient to cover any transfer tax, assessments, or similar governmental charge payable in connection therewith (other than any such transfer taxes,
assessments or similar governmental charge payable upon exchanges pursuant to Sections 3.06, 4.06, 4.08 and 9.05 of this Indenture). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Prior to the due presentation for registration of transfer of any Security, the Issuer, the Trustee, a paying agent or
the Registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and interest on such Security and for all other purposes whatsoever,
whether or not such Security is overdue, and none of the Issuer, the Trustee, the paying agent or the Registrar shall be affected by notice to the contrary. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) All Securities issued upon any transfer or exchange pursuant to the terms of this Indenture shall evidence the same debt
and shall be entitled to the same benefits under this Indenture as the Securities surrendered upon such transfer or exchange. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>No
Obligation of the Trustee</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) None of the Trustee, Registrar or paying agent shall have any responsibility or
obligation to any beneficial owner of a Global Security, a member of, or a participant in the Depository or any other Person with respect to the accuracy of the records of the Depository or its nominee or of any participant or member thereof, with
respect to any ownership interest in the Securities or with respect to the delivery to any participant, member, beneficial owner or other Person (other than the Depository) of any notice (including any notice of redemption or repurchase) or the
payment of any amount, under or with respect to such Securities. All notices and communications to be given to the Holders and all payments to be made to the Holders under the Securities shall be given or made only to the registered Holders (which
shall be the Depository or its nominee in the case of a Global Security). The rights of beneficial owners in any Global Security shall be exercised only through the Depository subject to the applicable rules and procedures of the Depository. The
Trustee, Registrar or paying agent may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its members, participants and any beneficial owners. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) None of the Trustee, Registrar or paying agent shall have any obligation or duty to monitor, determine or inquire as to
compliance with any restrictions on transfer imposed under this Indenture or under applicable law with respect to any transfer of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
interest in any Security (including any transfers between or among Depository participants, members or beneficial owners in any Global Security) other than to require delivery of such
certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by, the terms of this Indenture, and to examine the same to determine substantial compliance as to form with the express
requirements hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Appendix A - 13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF FACE OF ORIGINAL OR ADD-ON SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Global Securities Legend] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY (AS DEFINED IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF BT GLOBENET NOMINEES LTD OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE COMMON (AND ANY PAYMENT IS MADE TO BT GLOBENET NOMINEES LTD, OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE COMMON DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, BT GLOBENET NOMINEES LTD, HAS AN INTEREST HEREIN. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO THE COMMON DEPOSITARY, TO NOMINEES OF THE COMMON DEPOSITARY OR
TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR&#146;S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN THE INDENTURE REFERRED TO ON THE REVERSE HEREOF. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Restricted Securities Legend] </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE HAS NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND THIS NOTE MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR IN ACCORDANCE WITH AN
APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (SUBJECT TO THE DELIVERY OF SUCH EVIDENCE, IF ANY, REQUIRED UNDER THE INDENTURE PURSUANT TO WHICH THIS NOTE IS ISSUED) AND IN ACCORDANCE WITH ANY APPLICABLE SECURITIES
LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION. EACH PURCHASER OF THE SECURITY EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY
RULE 144A THEREUNDER OR ANOTHER EXEMPTION UNDER THE SECURITIES ACT. THE HOLDER OF THE SECURITY EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUER THAT (A)&nbsp;SUCH SECURITY MAY BE RESOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (1)(a)&nbsp;TO A
PERSON WHO THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144
UNDER THE </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A FOREIGN PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 904 UNDER THE SECURITIES ACT OR (d)&nbsp;IN ACCORDANCE WITH ANOTHER
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE ISSUER SO REQUESTS), SUBJECT TO THE RECEIPT BY THE REGISTRAR OF A CERTIFICATION OF THE TRANSFEROR AND AN OPINION OF COUNSEL TO THE EFFECT
THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, (2)&nbsp;TO THE ISSUER OR (3)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR
ANY OTHER APPLICABLE JURISDICTION AND (B)&nbsp;THE HOLDER WILL AND EACH SUBSEQUENT HOLDER IS REQUIRED TO NOTIFY ANY PURCHASER FROM IT OF THE SECURITY EVIDENCED HEREBY OF THE RESALE RESTRICTION SET FORTH IN (A)&nbsp;ABOVE. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Definitive Security shall bear the following additional legends: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH REGISTRAR MAY REASONABLY REQUIRE TO
CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THIS SECURITY (OR ITS PREDECESSOR) WAS ORIGINALLY ISSUED IN A TRANSACTION ORIGINALLY
EXEMPT FROM REGISTRATION UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE &#147;SECURITIES ACT&#148;), AND MAY NOT BE TRANSFERRED IN THE UNITED STATES OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, ANY U.S. PERSON EXCEPT PURSUANT TO AN AVAILABLE
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAWS. TERMS USED ABOVE HAVE THE MEANINGS GIVEN TO THEM IN REGULATION S UNDER THE SECURITIES ACT. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF ORIGINAL SECURITY] </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="41%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="16%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">No.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">&#128;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7.00% Senior Note due 2023 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="20%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">ISIN No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Common&nbsp;Code&nbsp;No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Constellium N.V., a public company with limited liability (<I>naamloze vennootschap</I>) incorporated under
the laws of The Netherlands, promises to pay to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, or registered assigns, the principal sum [of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Euro] [listed on the Schedule of
Increases or Decreases in Global Security attached hereto]<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> on January&nbsp;15, 2023. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Interest Payment Dates: January&nbsp;15 and July&nbsp;15 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Record Dates: January&nbsp;1 and July&nbsp;1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Additional provisions of this Security are set forth on the other side of this Security. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Use the Schedule of Increases and Decreases language if Security is in Global Form. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties have caused this instrument to be duly executed. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">CONSTELLIUM N.V.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">REGISTRAR&#146;S CERTIFICATE OF AUTHENTICATION</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">DEUTSCHE BANK LUXEMBOURG S.A.,<BR>as Authenticating Agent, certifies that this is one of the Securities referred to in the
Indenture.</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Authorized Signatory</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><U>*</U>/</TD>
<TD ALIGN="left" VALIGN="top">If the Security is to be issued in global form, add the Global Securities Legend and the attachment from Exhibit A captioned &#147;TO BE ATTACHED TO GLOBAL SECURITIES - SCHEDULE OF INCREASES OR DECREASES IN GLOBAL
SECURITY&#148;. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF REVERSE SIDE OF ORIGINAL SECURITY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7.00% Senior Note due 2023 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Interest</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>CONSTELLIUM N.V., a public company with limited liability (<I>naamloze
vennootschap</I>) incorporated under the laws of The Netherlands (together with its successors and assigns under the Indenture hereinafter referred to, the &#147;Issuer&#148;), promises to pay interest on the principal amount of this Security
semiannually in arrears on each January&nbsp;15 and July&nbsp;15 commencing on July&nbsp;15, 2015. Interest on the Securities will accrue from the Issue Date or the most recent date to which interest has been paid or provided for until the principal
hereof is due. Interest shall be computed on the basis of a 360-day year of twelve 30-day months.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Interest on the Securities will
accrue at a rate of 7.00%&nbsp;per annum, payable semiannually in arrears. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;Issue Date&#148; means the date on which the Securities
are originally issued. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"><U>Method of Payment</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer shall pay interest on the Securities (except defaulted
interest) to the Persons who are registered Holders at the close of business on the January&nbsp;1 or July&nbsp;1 immediately preceding the interest payment date even if Securities are canceled after the record date and on or before the interest
payment date (whether or not a Business Day). Holders must surrender Securities to the paying agent to collect principal payments. The Issuer shall pay principal, premium, if any, and interest in Euros, or such other money of the European Union that
at the time of payment is legal tender for payment of public and private debts. Payments in respect of the Securities represented by a Global Security (including principal, premium, if any, and interest) shall be made by wire transfer of immediately
available funds to the accounts specified by Common Depositary or any successor depositary. The Issuer shall make all payments in respect of a certificated Security (including principal, premium, if any, and interest), at the office or agency of the
paying agent within (i)&nbsp;the City of London or (ii)&nbsp;Luxembourg, for so long as the Securities are listed on the Euro MTF of the Luxembourg Stock Exchange, but only if the rules of the Luxembourg Stock Exchange so require. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"><U>Paying Agent; Registrar; Transfer Agent; Common Depositary</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Initially, Deutsche Bank AG,
London Branch, will act as paying agent and Common Depositary and Deutsche Bank Luxembourg S.A. will act as Registrar, Transfer Agent and Authenticating Agent. The Issuer may appoint and change any paying agent, Registrar or Transfer Agent without
notice. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"><U>Indenture</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer issued the Securities under an Indenture dated as of
December&nbsp;19, 2014 (the &#147;Indenture&#148;), among the Issuer, the Guarantors party thereto (the &#147;Guarantors&#148;) and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the Trustee. The terms of the Securities include those stated in the Indenture. Terms defined in the Indenture and not defined herein have the meanings ascribed thereto in the Indenture. The
Securities are subject to all terms and provisions of the Indenture, and the Holders (as defined in the Indenture) are referred to the Indenture for a statement of such terms and provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities are senior unsecured obligations of the Issuer. This Security is one of the Original Securities referred to in the Indenture.
The Securities include the Original Securities and any issued Add-On Securities. The Original Securities and any Add-On Securities are treated as a single series of securities under the Indenture. The Indenture imposes certain limitations on the
ability of the Issuer and its Restricted Subsidiaries to, among other things, make certain Investments and other Restricted Payments, pay dividends and other distributions, incur Indebtedness, enter into consensual restrictions upon the payment of
certain dividends and distributions by such Restricted Subsidiaries, issue or sell shares of Capital Stock of the Issuer and such Restricted Subsidiaries, enter into or permit certain transactions with Affiliates, create or incur Liens and make
Asset Sales. The Indenture also imposes limitations on the ability of the Issuer and each Guarantor to consolidate or merge with or into any other Person or convey, transfer or lease all or substantially all of its property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To guarantee the due and punctual payment of the principal and interest on the Securities and all other amounts payable by the Issuer under
the Indenture and the Securities when and as the same shall be due and payable, whether at maturity, by acceleration or otherwise, according to the terms of the Securities and the Indenture, the Guarantors have, jointly and severally,
unconditionally guaranteed the Guaranteed Obligations on a senior unsecured basis pursuant to the terms of the Indenture. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"><U>Optional Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as set forth in the following two paragraphs, the Securities
shall not be redeemable at the option of the Issuer prior to January&nbsp;15, 2018. On or after January&nbsp;15, 2018, the Securities shall be redeemable at the option of the Issuer, in whole at any time or in part from time to time, upon not less
than 30 nor more than 60 days&#146; prior notice delivered electronically or by first-class mail to each Holder&#146;s registered address, at the following redemption prices (expressed as a percentage of principal amount), plus accrued and unpaid
interest, if any, to the redemption date (subject to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), if redeemed during the twelve-month period commencing on
January&nbsp;15 of the years set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.90pt; font-size:8pt; font-family:Times New Roman"><B>Year</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption&nbsp;Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2018</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105.250</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2019</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103.500</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2020</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101.750</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2021 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, prior to January&nbsp;15, 2018, the Issuer may redeem the Securities at its option, in whole at
any time or in part from time to time, upon not less than 30 nor more than 60 days&#146; prior notice electronically delivered or mailed by first-class mail to each Holder&#146;s registered address, at a redemption price equal to 100% of the
principal amount of the Securities redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to the applicable redemption date (subject to the right of Holders of record on the relevant record date to receive interest due
on the relevant interest payment date). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>Notwithstanding the foregoing, at any time and from time to time prior to January&nbsp;15,
2018, the Issuer may redeem Securities in an aggregate amount equal to up to 35% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance of Add-On Securities), with an amount equal to the net cash
proceeds of one or more Equity Offerings by the Issuer, at a redemption price (expressed as a percentage of principal amount thereof) of 107.00%, plus accrued and unpaid interest to the redemption date (subject to the right of Holders of record on
the relevant record date to receive interest due on the relevant interest payment date); <I>provided</I>,<I> however</I>, that at least 50% of the original aggregate principal amount of the Securities (calculated after giving effect to any issuance
of Add-On Securities) must remain outstanding after each such redemption; and provided, further, that such redemption shall occur within 90 days after the date on which any such Equity Offering is consummated upon not less than 30 nor more than 60
days&#146; notice electronically delivered or mailed to each Holder of Securities being redeemed and otherwise in accordance with the procedures set forth in the Indenture. Any redemption or notice of any redemption may, at the Issuer&#146;s
discretion, be subject to one or more conditions precedent, including, but not limited to, completion of the related Equity Offering, other debt or equity financing, acquisition or other corporate transaction or event, and, at the Issuer&#146;s
discretion, the redemption date may be delayed until such time as any or all of such conditions have been satisfied. In addition, the Issuer may provide in any notice of redemption that payment of the redemption price and the performance of its
obligations with respect to such redemption may be performed by another person; <I>provided</I>, <I>however</I>, that the Issuer will remain obligated to pay the redemption price and perform its obligations with respect to such redemption in the
event such other person fails to do so and all conditions to such redemption, if any, are satisfied. Notice of any redemption in respect of an Equity Offering may be given prior to completion thereof. <I> </I></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an optional redemption date is on or after an interest record date and on or before the related interest payment date, the accrued and
unpaid interest, if any, will be paid to the Person in whose name the Security is registered at the close of business on such record date. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"><U>Special Mandatory Redemption</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Special Mandatory Redemption Event (as defined in
the Indenture) occurs, the Issuer shall, on the Special Mandatory Redemption Date (as defined in the Indenture), redeem all and not less than all of the Securities outstanding as of such date, at a redemption price equal to 100% of the principal
amount of the Securities, plus accrued and unpaid interest from the Issue Date to, but excluding, the Special Mandatory Redemption Date (such redemption being referred to herein as a &#147;Special Mandatory Redemption&#148;). Upon a Special
Mandatory Redemption Event, all Securities of this series shall become due and payable on the Special Mandatory Redemption Date, regardless of whether previously called for redemption. Upon consummation of the Wise Acquisition (as defined in the
Indenture), the provisions of this paragraph will terminate and cease to apply. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"><U>Redemption for Taxation Reasons</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer may redeem the Securities, at its option,
in whole, but not in part, at any time upon giving not less than 30 nor more than 60 days prior notice to Holders (which notice shall be irrevocable) at a redemption price equal to 100% of the principal amount of the Securities, together with
accrued and unpaid interest, if any, to (but not including) the date fixed for redemption of such series (a &#147;Tax Redemption Date&#148;) (subject to the right of Holders of record on the relevant record date to receive interest due on the
relevant interest payment date) and all Additional Amounts (as defined in Section&nbsp;11.09 of the Indenture), if any, then due or that will become due on the Tax Redemption Date as a result of the redemption or otherwise, if any, if the Issuer
determines in good faith that, as a result of: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(a) any change in, or amendment to, the law or treaties (or any regulations, protocols or
rulings promulgated thereunder) of a Relevant Taxing Jurisdiction (as defined in Section&nbsp;2.15 of the Indenture) affecting taxation; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(b) any change in official position regarding the application, administration or interpretation of such laws, treaties, regulations, protocols
or rulings (including a holding, judgment or order by a government agency or court of competent jurisdiction) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(each of the foregoing in clauses
(1)&nbsp;and (2), a &#147;Change in Tax Law&#148;), any Payor (as defined in Section&nbsp;2.15 of the Indenture), with respect to the Securities or a Guarantee is, or on the next date on which any amount would be payable in respect of the Securities
would be, required to pay any Additional Amounts, and such obligation cannot be avoided by taking reasonable measures available to such Payor (including the appointment of a new paying agent or, where such payment would be reasonable, the payment
through another Payor); provided that no Payor shall be required to take any measures that in the Issuer&#146;s good faith determination would result in the imposition on such person of any legal or regulatory burden (other than any such burden that
is de minimis to the Issuer) or the incurrence by such person of additional costs (other than any such costs that are de minimis to the Issuer) or would otherwise result in any adverse consequences to such person (other than any such adverse
consequences that are de minimis). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the case of any Payor, the Change in Tax Law must be announced and become effective on or after the
date of the Offering Memorandum (or if the applicable Relevant Tax Jurisdiction becomes a Relevant Tax Jurisdiction on a date after the date of the Offering Memorandum, then such later date). Notwithstanding the foregoing, no such notice of
redemption will be given earlier than 90 days prior to the earliest date on which the Payor would be obligated to make such payment of Additional Amounts. Prior to the publication, mailing or delivery of any notice of redemption of the Securities
pursuant to the foregoing, the Issuer will deliver to the Trustee and applicable paying agent (a)&nbsp;an Officer&#146;s Certificate stating that it is entitled to effect such redemption and setting forth a statement of facts showing that the
conditions precedent to its right so to redeem have been satisfied and (b)&nbsp;an opinion of an independent tax counsel of recognized standing to the effect that the Payor would be obligated to pay Additional Amounts as a result of a Change in Tax
Law. The Trustee will accept such Officer&#146;s Certificate and opinion as sufficient evidence of the satisfaction of the conditions precedent described above, in which event it will be conclusive and binding on the Holders of the Securities. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>The foregoing provisions will apply <I>mutatis mutandis</I> to any successor to a Payor. The foregoing provisions will survive any
termination, defeasance or discharge of the Indenture.<I> </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"><U>Sinking Fund</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities are not subject to any sinking fund. </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top"><U>Notice of Redemption</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>Notice of redemption will be electronically delivered or
mailed by first-class mail at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at his, her or its registered address; <I>provided</I>, <I>however</I>, that in the case of a Special
Mandatory Redemption, such notices may be mailed less than 30 days (but at least 10 days) before the Special Redemption Date. Securities in denominations larger than &#128;100,000 may be redeemed in part but only in whole multiples of $1,000 in
excess thereof. If money sufficient to pay the redemption price of and accrued and unpaid interest on all Securities (or portions thereof) to be redeemed on the redemption date is deposited with a paying agent on or before the redemption date and
certain other conditions are satisfied, on and after such date interest ceases to accrue on such Securities (or such portions thereof) called for redemption.<I> </I></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top">Repurchase of Securities at the Option of the <U> </U></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Holders upon Change of Control and
Asset Sales</U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon the occurrence of a Change of Control, each Holder shall have the right, subject to certain conditions specified in
the Indenture, to cause the Issuer to repurchase all or any part of such Holder&#146;s Securities at a purchase price in cash equal to 101% of the principal amount thereof, plus accrued and unpaid interest, if any, to the date of repurchase (subject
to the right of the Holders of record on the relevant record date to receive interest due on the relevant interest payment date), as provided in, and subject to the terms of, the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In accordance with Section&nbsp;4.06 of the Indenture, the Issuer will be required to offer to purchase Securities upon the occurrence of
certain events. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"><U>Ranking</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities and the Guarantees are senior unsecured obligations of the
Issuer and the Guarantors and will be of equal ranking with all present and future senior unsecured indebtedness. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"><U>Denominations; Transfer; Exchange</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Securities are in registered form, without
coupons, in denominations of &#128;100,000 and any integral multiple of &#128;1,000 in excess thereof. A Holder shall register the transfer of or exchange of Securities in accordance with the Indenture. Upon any registration of transfer or exchange,
the Registrar may require a Holder, among other things, to furnish appropriate endorsements or transfer documents and to pay any taxes required by law or permitted by the Indenture. The Registrar need not register the transfer of or exchange any
Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the Security not to be redeemed) or to transfer or exchange any Securities for a period of 15 days prior to a selection of Securities to be
redeemed. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"><U>Persons Deemed Owners</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The registered Holder of this Security shall be treated as the
owner of it for all purposes. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top"><U>Unclaimed Money</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If money for the payment of principal or interest remains unclaimed for
two years, the Trustee and a paying agent shall pay the money back to the Issuer at their written request unless an abandoned property law designates another Person. After any such payment, the Holders entitled to the money must look to the Issuer
for payment as general creditors and the Trustee and a paying agent shall have no further liability with respect to such monies. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top"><U>Discharge and Defeasance</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to certain conditions, the Issuer at any time may
terminate some of or all of its obligations under the Securities and the Indenture if the Issuer deposits with the Trustee money or European Government Obligations for the payment of principal and interest on the Securities to redemption or
maturity, as the case may be. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top"><U>Amendment; Waiver</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to certain exceptions set forth in the Indenture,
(i)&nbsp;the Indenture or the Securities may be amended with the written consent of the Holders of at least a majority in aggregate principal amount of the outstanding Securities and (ii)&nbsp;any past default or compliance with any provisions may
be waived with the written consent of the Holders of at least a majority in principal amount of the outstanding Securities. Subject to certain exceptions set forth in the Indenture, without the consent of any Holder, the Issuer and the Trustee may
amend the Indenture or the Securities (i)&nbsp;to cure any ambiguity, omission, mistake, defect or inconsistency; (ii)&nbsp;to provide for the assumption by a Successor Company of the obligations of the Issuer under the Indenture and the Securities;
(iii)&nbsp;to provide for the assumption by a Successor Guarantor of the obligations of a Guarantor under the Indenture and its Guarantee; (iv)&nbsp;to provide for uncertificated Securities in addition to or in place of certificated Securities
(provided that the uncertificated Securities are issued in registered form for purposes of Section&nbsp;163(f) of the Code, or in a manner such that the uncertificated Securities are described in Section&nbsp;163(f)(2)(B) of the Code); (v)&nbsp;to
add additional Guarantees with respect to the Securities; (vi)&nbsp;to make any change that would provide additional rights or benefits to the Holders or that does not adversely affect the legal rights of the Holders; (vii)&nbsp;to make changes
relating to the transfer and legending of the Securities; (viii)&nbsp;to secure the Securities; (ix)&nbsp;to add to the covenants of the Issuer for the benefit of the Holders or to surrender any right or power herein conferred upon the Issuer or any
Guarantor; (x)&nbsp;to make any change that does not adversely affect the rights of any Holder in any material respect; (xi)&nbsp;to effect any provision of the Indenture; (xii)&nbsp;to provide for the issuance of the Add-On Securities, as defined
in the Indenture; (xiii)&nbsp;to evidence and provide for the acceptance and appointment under the Indenture of a successor Trustee thereunder pursuant to the requirements thereof; or (xiv)&nbsp;to conform the text of the Indenture, Guarantees or
Securities to any provision of the section entitled &#147;Description of the Notes&#148; in the Offering Memorandum. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">17.</TD>
<TD ALIGN="left" VALIGN="top"><U>Defaults and Remedies</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I></I>If an Event of Default occurs (other than an Event of
Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer) and is continuing, the Trustee or the Holders of at least 25% in principal amount of the outstanding Securities, in each case, by notice to the Issuer, may
declare the principal of, premium, if any, and accrued but unpaid interest on all the Securities to be due and payable <I>provided</I>, <I>however</I>, that so long as any Bank Indebtedness remains outstanding, no such acceleration shall be
effective until the earlier of (1)&nbsp;five Business Days after the giving of written notice to the Issuer and the Representative under the Credit Facilities and (2)&nbsp;the day on which any Bank Indebtedness is accelerated. Upon such a
declaration, such principal and interest will be due and payable immediately. If an Event of Default relating to certain events of bankruptcy, insolvency or reorganization of the Issuer occurs, the principal of, premium, if any, and interest on all
the Securities shall become immediately due and payable without any declaration or other act on the part of the Trustee or any Holders. Under certain circumstances, the Holders of a majority in principal amount of the outstanding Securities may
rescind any such acceleration with respect to the Securities and its consequences.<I> </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs and is
continuing, the Trustee shall be under no obligation to exercise any of the rights or powers under the Indenture at the request or direction of any of the Holders unless such Holders have offered to the Trustee reasonable indemnity or security
satisfactory to the Trustee against any loss, liability or expense and certain other conditions are complied with. Except to enforce the right to receive payment of principal, premium (if any) or interest when due, no Holder may pursue any remedy
with respect to the Indenture or the Securities unless (i)&nbsp;such Holder has previously given the Trustee notice that an Event of Default is continuing, (ii)&nbsp;the Holders of at least 25% in principal amount of the outstanding Securities have
requested the Trustee in writing to pursue the remedy, (iii)&nbsp;such Holders have offered the Trustee reasonable security or indemnity satisfactory to the Trustee against any loss, liability or expense, (iv)&nbsp;the Trustee has not complied with
such request within 60 days after the receipt of the request and the offer of security or indemnity and (v)&nbsp;the Holders of a majority in principal amount of the outstanding Securities have not given the Trustee a direction inconsistent with
such request within such 60-day period. Subject to certain restrictions, the Holders of a majority in principal amount of the outstanding Securities are given the right to direct the time, method and place of conducting any proceeding for any remedy
available to the Trustee or of exercising any trust or power conferred on the Trustee. The Trustee, however, may refuse to follow any direction that conflicts with law or the Indenture or that the Trustee determines is unduly prejudicial to the
rights of any other Holder or that would involve the Trustee in personal or financial liability. Prior to taking any action under the Indenture at the instruction of Holders in respect of an Event of Default, the Trustee shall be entitled to
indemnification or security satisfactory to it in its sole discretion against all losses and expenses caused by taking or not taking such action. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">18.</TD>
<TD ALIGN="left" VALIGN="top"><U>Trustee Dealings with the Issuer</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee under the Indenture, in its individual or
any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Issuer or its Affiliates and may otherwise deal with the Issuer or its Affiliates with the same rights it would
have if it were not Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">19.</TD>
<TD ALIGN="left" VALIGN="top"><U>No Recourse Against Others</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No director, officer, employee, manager, incorporator or
holder of any Equity Interests (as defined in the Indenture) in the Issuer or any direct or indirect parent corporation, as such, shall have any liability for any obligations of the Issuer under the Securities, the Indenture or for any claim based
on, in respect of, or by reason of, such obligations or their creation. Each Holder of Securities by accepting a Security waives and releases all such liability. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">20.</TD>
<TD ALIGN="left" VALIGN="top"><U>Authentication</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Security shall not be valid until an authorized signatory of the
Authenticating Agent manually signs the certificate of authentication on the other side of this Security. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">21.</TD>
<TD ALIGN="left" VALIGN="top"><U>Abbreviations</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Customary abbreviations may be used in the name of a Holder or an
assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with rights of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to Minors Act). </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">22.</TD>
<TD ALIGN="left" VALIGN="top"><U>Governing Law</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS SECURITY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">23.</TD>
<TD ALIGN="left" VALIGN="top"><U>ISINs; Common Codes</U> </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuer has caused Common Code numbers and ISINs to be printed
on the Securities and has directed the Trustee to use Common Code numbers and ISINs in notices of redemption as a convenience to the Holders. No representation is made as to the accuracy of such numbers either as printed on the Securities or as
contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>The Issuer
will furnish to any Holder of Securities upon written request and without charge to the Holder a copy of the Indenture which has in it the text of this Security. </B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ASSIGNMENT FORM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To assign this Security, fill in the form below: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">I or we
assign and transfer this Security to: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:2.00em; font-size:10pt; font-family:Times New Roman">(Print or type assignee&#146;s name, address and zip code)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="text-indent:2.00em; font-size:10pt; font-family:Times New Roman">(Insert assignee&#146;s soc. sec. or tax I.D. No.)</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and irrevocably appoint
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; agent to transfer this Security on the books of the Issuer. The agent may substitute another to act for him. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="9"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sign exactly as your name appears on the other
side of this Security. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Registrar or Transfer Agent</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CERTIFICATE TO BE DELIVERED UPON EXCHANGE OR </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REGISTRATION OF TRANSFER RESTRICTED SECURITIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This certificate relates to &#128;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; principal amount of Securities held in (check applicable space)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; book-entry or &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; definitive form by the undersigned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The
undersigned (check one box below): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="1%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">has requested the Registrar or Transfer Agent by written order to deliver in exchange for its beneficial interest in the Global Security held by the Depository a Security or Securities in definitive, registered form of authorized
denominations and an aggregate principal amount equal to its beneficial interest in such Global Security (or the portion thereof indicated above);</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">has requested the Register or Transfer Agent by written order to exchange or register the transfer of a Security or Securities.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with any transfer of any of the Securities evidenced by this certificate occurring prior to the expiration of
the period referred to in Rule 144(k) under the Securities Act, the undersigned confirms that such Securities are being transferred in accordance with its terms: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CHECK ONE BOX BELOW </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the Issuer; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to the
Registrar for registration in the name of the Holder, without transfer; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3)
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to an effective registration statement under the Securities Act of 1933; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> inside the United States to a &#147;qualified institutional buyer&#148;
(as defined in Rule 144A under the Securities Act of 1933) that purchases for its own account or for the account of a qualified institutional buyer to whom notice is given that such transfer is being made in reliance on Rule 144A, in each case
pursuant to and in compliance with Rule 144A under the Securities Act of 1933; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5)
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> outside the United States in an offshore transaction within the meaning of Regulation S under the Securities Act in compliance with Rule 904 under the Securities Act of 1933 and such Security shall
be held immediately after the transfer through Euroclear or Clearstream until the expiration of the Restricted Period (as defined in the Indenture); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> to an institutional &#147;accredited investor&#148; (as defined in Rule
501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act of 1933) that has furnished to the Trustee a signed letter containing certain representations and agreements; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> pursuant to another available exemption from registration provided by
Rule 144 under the Securities Act of 1933. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Unless one of the boxes is checked, the Registrar will refuse to register any of the Securities evidenced by this
certificate in the name of any Person other than the registered Holder thereof; <I>provided</I>,<I> however</I>, that if box (5), (6)&nbsp;or (7)&nbsp;is checked, the Issuer or the Registrar may require, prior to registering any such transfer of the
Securities, such legal opinions, certifications and other information as the Issuer or the Registrar have reasonably requested to confirm that such transfer is being made pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act of 1933. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature Guarantee:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program reasonably acceptable to the Registrar or Transfer Agent</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">Signature of Signature Guarantee</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TO BE COMPLETED BY PURCHASER IF (4)&nbsp;ABOVE IS CHECKED. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The undersigned represents and warrants that it is purchasing this Security for its own account or an account with respect to which it
exercises sole investment discretion and that it and any such account is a &#147;qualified institutional buyer&#148; within the meaning of Rule 144A under the Securities Act of 1933, and is aware that the sale to it is being made in reliance on Rule
144A and acknowledges that it has received such information regarding the Issuer as the undersigned has requested pursuant to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the
undersigned&#146;s foregoing representations in order to claim the exemption from registration provided by Rule 144A. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="44%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Dated:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3">NOTICE: To be executed by an executive officer</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[TO BE ATTACHED TO GLOBAL SECURITIES] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE OF INCREASES OR DECREASES IN GLOBAL SECURITY </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The initial principal amount of this Global Security is &#128;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The following increases or
decreases in this Global Security have been made: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="40%"></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="15%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">Date of Exchange</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Amount&nbsp;of&nbsp;decrease&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global Security</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Amount&nbsp;of&nbsp;increase&nbsp;in<BR>Principal&nbsp;Amount&nbsp;of&nbsp;this<BR>Global Security</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Principal&nbsp;amount&nbsp;of&nbsp;this<BR>Global&nbsp;Security&nbsp;following<BR>such decrease or increase</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Signature&nbsp;of&nbsp;authorized<BR>signatory&nbsp;of&nbsp;Registrar&nbsp;or<BR>Common Depositary</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OPTION OF HOLDER TO ELECT PURCHASE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have this Security purchased by the Issuer pursuant to Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control)
of the Indenture, check the box: </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="46%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><B>Asset Sale&nbsp;&nbsp;</B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT><B></B><B></B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center"><B>Change of Control&nbsp;&nbsp;</B><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT><B></B><B></B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>If you want to elect to have only part of this Security purchased by the Issuer pursuant to
Section&nbsp;4.06 (Asset Sale) or 4.08 (Change of Control) of the Indenture, state the amount (&#128;100,000 or any integral multiple of &#128;1,000 in excess thereof): </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="37%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>&#128;Date:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><B>&nbsp;</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>Your&nbsp;Signature:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman"><B>&nbsp;</B></P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><B>(Sign exactly as your name appears on the other side of this Security)</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="17%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="41%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="40%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Signature&nbsp;Guarantee:</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:4.00em; font-size:10pt; font-family:Times New Roman"><B>Signature must be guaranteed by a participant in a recognized signature guaranty medallion program or other signature guarantor program
reasonably acceptable to the Trustee</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A - 19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF SUPPLEMENTAL INDENTURE] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><I></I>SUPPLEMENTAL INDENTURE (this &#147;Supplemental Indenture&#148;) dated as of
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;], among [GUARANTOR] (the &#147;New Guarantor&#148;), a subsidiary of CONSTELLIUM N.V., (or its successor), a public company
with limited liability (<I>naamloze vennootschap</I>) incorporated under the laws of The Netherlands (the &#147;Issuer&#148;) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee under the indenture referred to below (the &#147;Trustee&#148;),
DEUTCHE BANK AG, LONDON BRANCH, as Principal Paying Agent and DEUTSCHE BANK LUXEMBOURG S.A., as Registrar and Transfer Agent.<I> </I></P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T
N E S S E T H : </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS the Issuer and the existing Guarantors have heretofore executed and delivered to the Trustee an indenture (as
amended, supplemented or otherwise modified, the &#147;Indenture&#148;) dated as of December&nbsp;19, 2014, providing initially for the issuance of &#128;240,000,000 in aggregate principal amount of the Issuer&#146;s 7.00% Senior Notes due 2023 (the
&#147;Securities&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS Section&nbsp;4.11 of the Indenture provides that under certain circumstances the Issuer are required to
cause the New Guarantor to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantor shall unconditionally guarantee all the Issuer&#146;s Obligations under the Securities and the Indenture pursuant to a
Guarantee on the terms and conditions set forth herein; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS pursuant to Section&nbsp;9.01 of the Indenture, the Trustee, the
Issuer and the existing Guarantors are authorized to execute and deliver this Supplemental Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of
the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the New Guarantor, the Issuer and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as
follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <U>Defined Terms</U>. As used in this Supplemental Indenture, terms defined in the Indenture or in the preamble or recital
hereto are used herein as therein defined, except that the term &#147;Holders&#148; in this Guarantee shall refer to the term &#147;Holders&#148; as defined in the Indenture and the Trustee acting on behalf of and for the benefit of such Holders.
The words &#147;herein,&#148; &#147;hereof&#148; and &#147;hereby&#148; and other words of similar import used in this Supplemental Indenture refer to this Supplemental Indenture as a whole and not to any particular section hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <U>Agreement to Guarantee</U>. The New Guarantor hereby agrees, jointly and severally with all existing Guarantors (if any), to
unconditionally guarantee the Issuer&#146;s Obligations under the Securities and the Indenture on the terms and subject to the conditions set forth in Article 10 of the Indenture and to be bound by all other applicable provisions of the Indenture
and the Securities and to perform all of the obligations and agreements of a Guarantor under the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <U>Notices</U>. All
notices or other communications to the New Guarantor shall be given as provided in Section&nbsp;11.03 of the Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <U>Ratification of Indenture; Supplemental Indentures Part of Indenture</U>. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all
purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. <U>Governing
Law</U>. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <U>Trustee Makes No Representation</U>. The Trustee makes no representation as to the validity or sufficiency of this Supplemental
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <U>Counterparts</U>. The parties may sign any number of copies of this Supplemental Indenture by manual, facsimile, pdf or
other electronically transmitted signature. Each signed copy shall be an original, but all of them together represent the same agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <U>Effect of Headings</U>. The Section headings herein are for convenience only and shall not affect the construction thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[NEW GUARANTOR]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK TRUST COMPANY AMERICAS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK AG, LONDON BRANCH</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">DEUTSCHE BANK LUXEMBOURG S.A.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B - 3 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.14
<SEQUENCE>9
<FILENAME>d908770dex414.htm
<DESCRIPTION>EX-4.14
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.14</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.14 </U></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDENTURE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of
December&nbsp;11, 2013 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Among </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE METALS GROUP LLC, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE
ALLOYS FINANCE CORPORATION, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE GUARANTORS PARTY HERETO </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WELLS FARGO BANK, NATIONAL
ASSOCIATION, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Trustee </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WELLS FARGO BANK, NATIONAL ASSOCIATION, </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Collateral Agent </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% SENIOR SECURED NOTES DUE 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="81%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Page</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 1</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">DEFINITIONS AND INCORPORATION BY REFERENCE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Definitions</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules of Construction</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acts of Holders</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 2</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">THE NOTES</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Form&nbsp;and Dating; Terms</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution and Authentication</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Registrar and Paying Agent</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Paying Agent to Hold Money in Trust</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Holder Lists</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer and Exchange</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement Notes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Outstanding Notes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.09</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Treasury Notes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.10</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Temporary Notes</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.11</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cancellation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.12</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defaulted Interest</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.13</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">CUSIP and ISIN Numbers</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 3</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">REDEMPTION</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.01</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices to Trustee</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.02</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Selection of Notes to Be Redeemed or Purchased</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.03</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Redemption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.04</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Notice of Redemption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.05</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit of Redemption or Purchase Price</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.06</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notes Redeemed or Purchased in Part</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.07</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Optional Redemption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.08</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Mandatory Redemption</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- i - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 4</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">COVENANTS</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Principal, Premium and Interest</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Corporate Existence</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Indebtedness</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Restricted Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Transactions with Affiliates of the Company</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">64</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Liens</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Asset Sales</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Purchase of Notes upon a Change of Control</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">69</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Business Activities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payments for Consent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Provision of Financial Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">73</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Statement by Officers as to Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Taxes and Other Claims</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance of Properties</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compliance Certificates</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Stay, Extension or Usury Laws</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance of Office or Agency</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.20</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Suspension of Covenants</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 5</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SUCCESSORS</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consolidation, Merger or Sale of Assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Substituted</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 6</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">DEFAULTS AND REMEDIES</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acceleration</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Past Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Control by Majority</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Suits</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of Holders of Notes to Receive Payment</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collection Suit by Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restoration of Rights and Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights and Remedies Cumulative</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- ii - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="83%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Delay or Omission Not Waiver</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee May&nbsp;File Proofs of Claim</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Priorities</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Undertaking for Costs</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 7</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">TRUSTEE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Duties of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Individual Rights of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee&#146;s Disclaimer</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notice of Defaults</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reports by Trustee to Holders of the Notes</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compensation and Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">89</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successor Trustee by Merger, Etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Eligibility; Disqualification</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Preferential Collection of Claims Against Issuers</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 8</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">LEGAL DEFEASANCE AND COVENANT DEFEASANCE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Option to Effect Legal Defeasance or Covenant Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legal Defeasance and Discharge</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Covenant Defeasance</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">94</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reserved</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Repayment to Issuers</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reinstatement</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 9</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">AMENDMENT, SUPPLEMENT AND WAIVER</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Without Consent of Holders of Notes</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">With Consent of Holders of Notes</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reserved</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Effect of Consents</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notation on or Exchange of Notes</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Trustee to Sign Amendments, Etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- iii - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 10</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">INTERCREDITOR AGREEMENT</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intercreditor Agreement</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 11</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">COLLATERAL</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Security Documents</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collateral Agent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Authorization of Actions to Be Taken</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">101</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Release of Collateral</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reserved</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Powers Exercisable by Receiver or Trustee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Voting</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 12</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">APPLICATION OF TRUST MONIES</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Collateral Account</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Withdrawal of Net Cash Proceeds in Connection with Reinvestments</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Withdrawal of Net Cash Proceeds to Fund an Offer to Purchase or Release Following an Offer to Purchase</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Investment of Trust Monies</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Application of Other Trust Monies</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 13</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">GUARANTEES</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Guarantee</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Guarantor Liability</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Execution and Delivery</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Subrogation</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Benefits Acknowledged</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 13.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Release of Guarantees</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 14</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SATISFACTION AND DISCHARGE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Satisfaction and Discharge</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 14.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Application of Trust Money</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- iv - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 15</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">MISCELLANEOUS</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">110</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Business Days</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Communication by Holders of Notes with Other Holders of Notes</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certificate and Opinion as to Conditions Precedent</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Statements Required in Certificate or Opinion</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rules by Trustee and Agents</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Personal Liability of Incorporators, Stockholders, Officers, Directors, Employees or Controlling Persons</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Governing Law; Waiver of Jury Trial</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Force Majeure</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">113</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Counterpart Originals</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Table of Contents, Headings, Etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">USA Patriot Act</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">114</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 15.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Adverse Interpretation of Other Agreements</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">115</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">EXHIBITS</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;A-1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form&nbsp;of Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit A-2</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Regulation S Temporary Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;B</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form&nbsp;of Certificate of Transfer</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;B-1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form&nbsp;of Certificate from Acquiring Institutional Accredited Investor</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;C</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form&nbsp;of Certificate of Exchange</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit&nbsp;D</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form&nbsp;of Supplemental Indenture to Be Delivered by Subsequent Guarantors</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">- v - </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">INDENTURE, dated as of December&nbsp;11, 2013, among Wise Metals Group LLC, a Delaware limited
liability company (the &#147;<U>Company</U>&#148;), Wise Alloys Finance Corporation, a Delaware corporation (&#147;<U>Wise Finance</U>&#148; and, together with the Company, the &#147;<U>Issuers</U>&#148;), the Guarantors (as defined herein) listed
on the signature pages hereto, Wells Fargo Bank, National Association, a national banking association duly organized and existing under the laws of the United States of America, as Trustee, and Wells Fargo Bank, National Association, a national
banking association duly organized and existing under the laws of the United States of America, as Collateral Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>W</U> <U>I</U>
<U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuers have duly authorized the creation of an
issue of $650,000,000 aggregate principal amount of 8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 (the &#147;<U>Initial Notes</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuers and the Guarantors have duly authorized the execution and delivery of this Indenture; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, all things necessary (i)&nbsp;to make the Notes, when executed by the Issuers and authenticated and delivered hereunder and duly
issued by the Issuers, the valid obligations of the Issuers, and (ii)&nbsp;to make this Indenture a valid agreement of the Issuers, all in accordance with their respective terms, have been done; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the Issuers, the Guarantors, the Trustee and the Collateral Agent agree as follows for the benefit of each other and for the
equal and ratable benefit of the Holders of the Notes. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFINITIONS AND INCORPORATION BY REFERENCE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.01 <U>Definitions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>144A Global Note</U>&#148; means a Global Note substantially in the form of <U>Exhibit&nbsp;A-1</U> attached hereto, bearing the
Global Note Legend, the OID Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of
the Notes sold in reliance on Rule&nbsp;144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Facility Collateral Agent</U>&#148; means General Electric Capital
Corporation, as administrative agent under the Credit Agreement, and its successors, replacements or assigns in such capacity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Liens</U>&#148; means all Liens in favor of the ABL Facility Collateral Agent on Collateral securing the ABL Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Obligations</U>&#148; means (x)&nbsp;the Indebtedness and other obligations which are incurred under the Credit Agreement and
(y)&nbsp;obligations in respect of Bank Products and Hedging Obligations incurred with any lender or agent under the Credit Agreement (or their Affiliates). </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>ABL Priority Collateral</U>&#148; has the meaning set forth in the Intercreditor
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquired Indebtedness</U>&#148; means Indebtedness of a Person (1)&nbsp;existing at the time such Person becomes a
Restricted Subsidiary or (2)&nbsp;assumed in connection with an acquisition of such Person&#146;s assets; <U>provided</U> that any Indebtedness of such other Person that is extinguished, redeemed, defeased, retired or otherwise repaid at the time of
or immediately upon consummation of the transaction pursuant to which such other Person becomes a Subsidiary of the specified Person will not be Acquired Indebtedness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Additional Notes</U>&#148; means additional Notes (other than the Initial Notes) issued from time to time under this Indenture in
accordance with Sections 2.01, 4.03 and 4.06. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; of any specified individual or entity, means any other
individual or entity who directly or indirectly controls or is controlled by or is under direct or indirect common control with the specified individual or entity. For the purposes of this definition, &#147;control&#148; of an entity means having
the power to direct the management and policies of the entity directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agent</U>&#148; means any Registrar or Paying Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Premium</U>&#148; means, with respect to any Note on any Redemption Date, the greater of (i)&nbsp;1.0% of the principal
amount of such Note and (ii)&nbsp;the excess of (A)&nbsp;the present value at such Redemption Date of (1)&nbsp;the Redemption Price of such Note at June&nbsp;15, 2016 (such redemption price being set forth in the table in Section&nbsp;3.07) plus
(2)&nbsp;all required interest payments due on such Note through June&nbsp;15, 2016 (excluding accrued but unpaid interest to the Redemption Date), computed using a discount rate equal to the Treasury Rate on such redemption date plus 50 basis
points over (B)&nbsp;the principal amount of such Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Procedures</U>&#148; means, with respect to any transfer or
exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear or Clearstream that apply to such transfer or exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Asset Sale</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) the sale, conveyance or other disposition of any assets, other than sales or leases of inventory or other assets in the ordinary course of
business (whether or not consistent with past practice); <U>provided</U> that the sale, conveyance or other disposition of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole will be governed by
Section&nbsp;5.01 and not by Section&nbsp;4.07; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the issuance of Equity Interests by any of the Company&#146;s Restricted
Subsidiaries or the sale of Equity Interests in any of its Restricted Subsidiaries, other than such an issuance or sale to the Company or one or more of its Restricted Subsidiaries (other than director&#146;s qualifying shares or shares required by
applicable law to be held by a person other than the Company or a Restricted Subsidiary). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the preceding, the following items shall not be deemed to be Asset Sales: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any single transaction or series of related transactions that involves assets having a Fair Market Value of less than $5.0 million or in
which the Company or the Restricted Subsidiary receives aggregate consideration of less than $5.0 million; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) a transfer of assets
between or among the Company and any one or more of its Restricted Subsidiaries; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) an issuance or transfer of Equity Interests by a
Restricted Subsidiary to the Company or by the Company or a Restricted Subsidiary to a Restricted Subsidiary (other than a Securitization Entity); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) a Restricted Payment that is permitted by Section&nbsp;4.04 or a Permitted Investment; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) sales or other dispositions of assets or Equity Interests that comply with Section&nbsp;4.07(a)(i)&nbsp;to the extent such sales or
dispositions constitute Permitted Investments; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) a disposal or replacement of obsolete or worn-out equipment or any other asset that,
in the reasonable judgment of the Company, is no longer economically practicable to maintain or useful in the conduct of the business of the Company and the Restricted Subsidiaries taken as whole; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) (i)&nbsp;the sale or discount of accounts receivable in the ordinary course of business and (ii)&nbsp;the sale of rights with respect to
accounts receivable and amounts owed by suppliers or customers in the ordinary course of business; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) the surrender or waiver of
contract rights (including leases, subleases, licenses and sub-licenses) or the settlement, release, or surrender of contract, tort or other claims; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) the lease, sublease or license or sublicense of real or personal property, including patents, trademarks and other intellectual property
rights that do not materially interfere with the business of the Company and its Restricted Subsidiaries taken as a whole; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) the
cancellation of intercompany Indebtedness with the Company or any of its Restricted Subsidiaries permitted under this Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) the
granting of Liens not prohibited by this Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) any sale or other disposition of cash or Temporary Cash Investments; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) any sale of Equity Interests or other Investments in an Unrestricted Subsidiary; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) the disposition of Receivables and Related Assets in a Qualified Securitization Transaction. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Attributable Debt</U>&#148; in respect of a Sale and Leaseback Transaction means, at the
time of determination, the present value of the obligation of the lessee for net rental payments during the remaining term of the lease included in such Sale and Leaseback Transaction, including any period for which such lease has been extended or
may, at the option of the lessor, be extended. Such present value will be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Average Life</U>&#148; means, at any date of determination with respect to any debt security, the quotient obtained by dividing
(1)&nbsp;the sum of the products of (a)&nbsp;the number of years from such date of determination to the dates of each successive scheduled principal payment of such debt security and (b)&nbsp;the amount of such principal payment by (2)&nbsp;the sum
of all such principal payments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bank Products</U>&#148; means any one or more of the following financial products or
accommodations extended to the Company or its Subsidiaries: (a)&nbsp;credit cards for commercial customers (including, without limitation, &#147;commercial credit cards&#148; and purchasing cards), (b)&nbsp;stored value cards, (c)&nbsp;merchant
processing services, (d)&nbsp;treasury management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services) and (e)&nbsp;lease
financing of specific equipment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bankruptcy Law</U>&#148; means Title&nbsp;11, United States Bankruptcy Code of 1978, as
amended, or any similar United States federal or state law or foreign law relating to bankruptcy, insolvency, receivership, winding up, liquidation, reorganization or relief of debtors or any amendment to, succession to or change in any such law.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Board of Directors</U>&#148; means, with respect to any Person, the Board of Directors, Board of Managers, Board of Directors of
the general partner in the case of a partnership or similar governing body of such Person or any duly authorized committee of such Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Day</U>&#148; means each day which is not a Saturday, a Sunday or a day on which banking institutions in The City of New
York, in the city in which the principal corporate trust office of the Trustee is located or at a place of payment are authorized or required by law, regulation or executive order to remain closed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing Base</U>&#148; means, as of any date, an amount equal to the sum of (i)&nbsp;85% of the consolidated book value of the
accounts receivable of the Company and its Restricted Subsidiaries and (ii)&nbsp;75% of the consolidated book value of the inventory of the Company and its Restricted Subsidiaries, each as determined by the most recent consolidated balance sheet of
the Company and its Restricted Subsidiaries (which shall also give pro forma effect to any acquisition or disposition of assets outside the ordinary course of business made after such balance sheet date and on or prior to the date of determination).
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital Lease Obligation</U>&#148; means, at the time any determination thereof is to be
made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change of Control</U>&#148; means an event or series of events by which any of the following occurs: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any Person (other than one or more Permitted Holders) is or becomes the &#147;beneficial owner&#148; directly or indirectly, of more than
50% of the total voting power of all outstanding classes of voting capital stock of the Company; <U>provided</U>, <U>however</U>, that a transaction in which the Company becomes a Subsidiary of another Person shall not constitute a Change of Control
if the shareholders of the Company immediately prior to such transaction &#147;beneficially own&#148; (as such term is defined in Rule&nbsp;13d-3 and Rule&nbsp;13d-5 under the Exchange Act), directly or indirectly through one or more intermediaries,
at least a majority of the voting power of the outstanding voting stock of such Person immediately following the consummation of such transaction; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the adoption of a plan relating to the liquidation or dissolution of the Company; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) on any date, a majority of the Company&#146;s Board of Directors does not consist of Persons (a)&nbsp;who were directors at the Closing
Date (&#147;<U>Continuing Directors</U>&#148;) or (b)&nbsp;whose election or nomination as directors was approved by at least <SUP STYLE="vertical-align:top">&nbsp;2</SUP>&#8260;<SUB STYLE="vertical-align:bottom">3</SUB> of the directors then in
office who are Continuing Directors or whose election or nomination was previously so approved. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the definition of Change of Control,
&#147;Person&#148; has the same meaning given to it in Sections 13(d)&nbsp;and 14(d)&nbsp;of the Exchange Act, and &#147;beneficial owner&#148; or &#147;beneficially owned&#148; have the same meaning given to these terms in Rules l3d-3 and l3d-5
under the Exchange Act, except that a Person is deemed to have &#147;beneficial ownership&#148; of all shares that Person has the right to acquire, whether the right is exercisable immediately or only after the passage of time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Clearstream</U>&#148; means Clearstream Banking, Soci&eacute;t&eacute; Anonyme. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; means the date on which the Initial Notes are issued under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collateral</U>&#148; means, collectively, all of the property and assets that are from time to time subject to the Lien of the
Security Documents (other than the Intercreditor Agreement), including the Liens, if any, required pursuant to the provisions of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collateral Account</U>&#148; means the collateral account established pursuant to Section&nbsp;12.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collateral Agent</U>&#148; means Wells Fargo Bank, National Association, in its capacity as Collateral Agent for the holders of Notes
and Permitted Additional Pari Passu Obligations, together with its successors in such capacity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Cash Flow</U>&#148; means, with respect to any Person for any period, the
Consolidated Net Income of such Person for such period plus without duplication: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) an amount equal to any provision for taxes based on
income or profits or similar taxes of such Person and its Restricted Subsidiaries for such period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) Fixed Charges of such Person and its Restricted Subsidiaries to the extent deducted in computing such Consolidated Net Income; plus </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) depreciation, depletion, amortization (including amortization of goodwill and other intangibles but excluding amortization of prepaid cash
expenses that were paid in a prior period), impairment and other non-cash expenses, write-downs (including asset impairment charges), charges or accruals of such Person and its Restricted Subsidiaries (excluding any such non-cash expense to the
extent it represents an accrual or reserve for cash payments in any future period) for such period to the extent that such depreciation, amortization and other non-cash expenses, write-downs, charges or accruals were deducted in computing such
Consolidated Net Income; plus </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) other non-cash items (other than any such non-cash item to the extent it represents amortization of a
prepaid cash expense that was paid in a prior period or an accrual of or reserve for cash expenditures in any future period), including, without limitation, non-cash rent expense, non-cash costs of sales, non-cash expense from any employee benefit
plan or stock option or incentive plan, non-cash stock compensation expense, non-cash foreign currency gains or losses, non-cash loss on sale or disposition of assets, non-cash loss from write-down or impairment of assets and non-cash expenditures
arising out of purchase accounting adjustments with respect to re-valuing assets and liabilities to the extent that such non-cash items were deducted in computing such Consolidated Net Income; plus </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) any fees, costs, expenses or charges (other than depreciation, depletion or amortization expense) related to any equity offering,
Permitted Investment, acquisition, disposition, recapitalization or the incurrence of Indebtedness permitted to be incurred under this Indenture (including a refinancing thereof), in each case, whether or not successful, including, without
limitation, such fees, expenses and charges relating to the issuance of the Initial Notes and the related refinancing transactions described in the Offering Memorandum, in each case, to the extent that such fees, expenses or charges were deducted in
computing such Consolidated Net Income; plus </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) to the extent actually reimbursed (and to the extent such reimbursement proceeds are not
included in computing such Consolidated Net Income), expenses incurred to the extent covered by indemnification provisions in any agreement in connection with an acquisition; plus </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) the amount of any restructuring charge or integration costs deducted in such period in computing such Consolidated Net Income, including
any one-time costs incurred in connection with acquisitions after the Closing Date; minus </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) non-cash items increasing such Consolidated
Net Income for such period, other than items that were accrued in the ordinary course of business. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Net Income</U>&#148; means, with respect to any Person for any period, the
aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; <U>provided</U> that: (1)&nbsp;the Net Income of any Person that is not a Restricted Subsidiary
or that is accounted for by the equity method of accounting shall be included only (x)&nbsp;in the case of income, to the extent of the amount of dividends or distributions paid in cash to the specified Person or a Restricted Subsidiary thereof and
(y)&nbsp;in the case of loss, only to the extent of such Person&#146;s equity in such loss; (2)&nbsp;the cumulative effect of a change in accounting principles, any extraordinary gains or losses and any gains or losses realized in connection with an
asset sale (including disposals of discontinued operations) or the extinguishment of Indebtedness shall be excluded; (3)&nbsp;solely for the purposes of determining Consolidated Cash Flow, any net after-tax income or loss from discontinued
operations shall be excluded; (4)&nbsp;any non-cash gain or loss from Hedging Obligations shall be excluded; (5)&nbsp;impairment and other non-cash expenses, write-downs (including asset impairment charges), charges or accruals shall be excluded;
(6)&nbsp;the amount of any restructuring charge or integration costs shall be excluded; (7)&nbsp;non-cash stock based compensation expense shall be excluded; (8)&nbsp;any last-in, first out accounting adjustments shall be excluded; (9)&nbsp;any
amortization, option premium or up-front cash payments paid in connection with Hedging Obligations shall be excluded; and (10)&nbsp;any write-off of deferred financing fees resulting from the repayment of Indebtedness using the proceeds of the
Initial Notes and the refinancing transactions described in the Offering Memorandum shall be excluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for
purposes of clause&nbsp;(iii)&nbsp;of Section&nbsp;4.04(a)&nbsp;only, there shall be excluded from Consolidated Net Income that portion, if any, of the Net Income of any Restricted Subsidiary that is not permitted, directly or indirectly, to be paid
by way of dividend, distribution or loan to stockholders of such Subsidiary by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its
stockholders; <U>provided</U> that the foregoing shall not apply to restrictions that are permitted by clause&nbsp;(1)&nbsp;or (5)&nbsp;of Section&nbsp;4.11(b). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Corporate Trust Office of the Trustee</U>&#148; shall be the address of the Trustee specified in Section&nbsp;15.01 or such other
address as to which the Trustee may give notice to the Holders and the Issuers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credit Agreement</U>&#148; means that certain
Credit Agreement to be dated on or about the Closing Date, by and among Wise Alloys LLC, as borrower, the Company and certain Subsidiaries of the Company, as credit parties, the lenders from time to time party thereto and the ABL Facility Collateral
Agent, including any related notes, Guarantees, collateral documents, instruments and agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from
time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credit Facilities</U>&#148; means one or more debt facilities (including the revolving credit facility established
pursuant to the Credit Agreement), commercial paper facilities or indentures providing for revolving credit loans, term loans, receivables financing (including </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
through the sale of receivables to such lenders or to special purpose entities formed to borrow from such lenders against such receivables), letters of credit, sale-leaseback transactions,
capital leases or similar obligations or issuances of notes, in each case, as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Custodian</U>&#148; means the Paying Agent and the Registrar, as custodian with respect to the Notes in global form, or any successor
entity thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Default</U>&#148; means any event that is, or after notice or passage of time or both would be, an Event of
Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Definitive Note</U>&#148; means a certificated Note registered in the name of the Holder thereof and issued in
accordance with Section&nbsp;2.06(c)&nbsp;or (e), substantially in the form of <U>Exhibit&nbsp;A-1</U> hereto, except that such Note shall not bear the Global Note Legend and shall not have the &#147;Schedule&nbsp;of Exchanges of Interests in the
Global Note&#148; attached thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Depositary</U>&#148; means, with respect to the Notes issuable or issued in whole or in part
in global form, the Person specified in Section&nbsp;2.03 as the Depositary with respect to the Notes, and any and all successors thereto appointed as the Depositary hereunder and having become such pursuant to the applicable provision of this
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Designated Non-cash Consideration</U>&#148; means non-cash consideration received by the Company or any of its
Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration by the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Discharge of ABL Obligations</U>&#148; has the meaning provided in the Intercreditor Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Discharge of Rexam Obligations</U>&#148; has the meaning provided in the Intercreditor Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disqualified Stock</U>&#148; means any Equity Interest that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable (other than solely for Equity Interests that are not Disqualified Stock),
pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is 91&nbsp;days after the date on which the Notes are or become due. Notwithstanding the
preceding sentence, any Equity Interests that would constitute Disqualified Stock solely because the holders thereof have the right to require the Issuers to repurchase such Equity Interests upon the occurrence of a Change of Control or an Asset
Sale shall not constitute Disqualified Stock if the terms of such Equity Interests provide that the Issuers may not repurchase or redeem any such Equity Interests pursuant to such provisions until after the Issuers comply with Section&nbsp;4.07 or
Section&nbsp;4.09. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Domestic Subsidiary</U>&#148; means a Restricted Subsidiary incorporated or otherwise organized or existing
under the laws of the United States, any state thereof or the District of Columbia, other than any such Restricted Subsidiary (i)&nbsp;that is either (a)&nbsp;a controlled foreign corporation within the meaning of Section&nbsp;957 of the Code (a
&#147;<U>CFC</U>&#148;) or (b)&nbsp;a direct or indirect </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Subsidiary of a CFC or (ii)&nbsp;that has no material assets other than capital stock of one or more Foreign Subsidiaries that are CFCs. For the avoidance of doubt, any Subsidiary organized in a
U.S. possession or territory shall not be treated as a Domestic Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Equity Interests</U>&#148; means capital stock,
limited liability company interests, partnership interests or other equity interests or equity securities, and all warrants, options or other rights to acquire such securities (but excluding any debt security that is convertible into, or
exchangeable for, such equity interests or equity securities). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Euroclear</U>&#148; means Euroclear Bank S.A./N.V., as operator
of the Euroclear system. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, or any successor statute,
and the rules and regulations promulgated by the SEC thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Subsidiary</U>&#148; means (i)&nbsp;any Domestic
Subsidiary that is not Wholly Owned, (ii)&nbsp;any Foreign Subsidiary and (iii)&nbsp;any Securitization Entity. In the event any Subsidiaries previously treated as Excluded Subsidiaries cease to meet the requirements of the previous sentence, the
Issuers will promptly cause such Subsidiaries to become Guarantors in accordance with Section&nbsp;4.08. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fair Market
Value</U>&#148; means the price that would be paid in an arm&#146;s-length, commercial transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy; <U>provided</U> that
any transaction involving consideration of $20.0 million or more, the Fair Market Value shall be determined in good faith by the Board of Directors of the Company, which determination shall be conclusive. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fixed Charge Coverage Ratio</U>&#148; means with respect to any specified Person for any period, the ratio of the Consolidated Cash
Flow of such Person and its Restricted Subsidiaries for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, Guarantees, redeems, repays or
acquires any Indebtedness or issues, redeems or acquires preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but on or prior to the date on which the event for which the
calculation of the Fixed Charge Coverage Ratio is made (the &#147;<U>Calculation Date</U>&#148;), then the Fixed Charge Coverage Ratio shall be calculated giving <U>pro forma</U> effect to such incurrence, assumption, Guarantee, redemption,
repayment or acquisition of Indebtedness, or such issuance, redemption or acquisition of preferred stock, as if the same had occurred at the beginning of the applicable reference period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, for purposes of calculating the Fixed Charge Coverage Ratio: (1)&nbsp;acquisitions that have been made by the specified Person or
any of its Restricted Subsidiaries, including through the purchase of assets or stock, mergers, liquidations or consolidations and including any related financing transactions, during the reference period or subsequent to such reference period and
on or prior to the Calculation Date shall be calculated on a <U>pro</U> <U>forma</U> basis as if they had occurred on the first day of the reference period; (2)&nbsp;the Consolidated Cash Flow attributable to discontinued operations, as determined
in accordance with GAAP, and operations </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
or businesses disposed of prior to the Calculation Date, shall be excluded; (3)&nbsp;the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and
operations or businesses disposed of prior to the Calculation Date, shall be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Subsidiaries following
the Calculation Date; and (4)&nbsp;interest on any Indebtedness that is revolving credit Indebtedness calculated on a <U>pro</U> <U>forma</U> basis shall be calculated based upon the average daily balance of such Indebtedness during the applicable <FONT
STYLE="white-space:nowrap">four-quarter</FONT> reference period. If any Indebtedness bears a floating rate of interest and is being given <U>pro</U> <U>forma</U> effect, the interest on such Indebtedness shall be calculated as if the rate in effect
on the Calculation Date had been the applicable rate for the entire period (taking into account any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement or other similar agreement with respect to exposure to
interest rates applicable to such Indebtedness if such interest rate agreement has a remaining term in excess of twelve&nbsp;months). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fixed Charges</U>&#148; means, with respect to any Person for any period, the sum, without duplication, of: (1)&nbsp;the consolidated
interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or accrued, including, without limitation, amortization of debt issuance costs and original issue discount, non-cash interest payments (excluding any
non-cash interest expense attributable to the movement in the mark-to-market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), the interest component of any deferred payment obligations (excluding any non-cash
interest expense attributable to the movement in the mark-to-market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), the interest component of all payments associated with Capital Lease Obligations, imputed
interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter of credit or bankers&#146; acceptance financings and net payments, if any, pursuant to Hedging Obligations and excluding any <FONT
STYLE="white-space:nowrap">non-cash</FONT> interest expense imputed on any convertible debt resulting from the application of ASC&nbsp;470-20, &#147;<U>Debt&#151;Debt with Conversion and Other Options</U>&#148;; plus (2)&nbsp;the consolidated
interest of such Person and its Restricted Subsidiaries that was capitalized during such period; plus (3)&nbsp;the aggregate amount of interest in respect of Indebtedness that is Guaranteed or secured by the assets of the Company or its Restricted
Subsidiaries; plus (4)&nbsp;the product of (a)&nbsp;all dividend payments on any series of preferred stock of such Person or any of its Restricted Subsidiaries (other than (x)&nbsp;dividend payments to the Company or its Restricted Subsidiaries or
(y)&nbsp;dividend payments on such preferred stock payable solely in Equity Interests of such Person (other than Disqualified Stock) or to such Person or a Restricted Subsidiary of such Person) times (b)&nbsp;a fraction, the numerator of which is
one and the denominator of which is one minus the then current combined federal, state and local statutory tax rate of such Person, expressed as a decimal, in each case, on a consolidated basis and in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Foreign Subsidiary</U>&#148; means, with respect to any Person, any Restricted Subsidiary other than a Domestic Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles in the United States of America as in effect as of the Closing Date,
including, without limitation, those set forth in the Accounting Standards Codification (&#147;<U>ASC</U>&#148;) maintained by the Financial Accounting Standards Board with additional guidance from opinions, pronouncements, accounting bulletins or
guidelines from the Securities and Exchange Commission, the American Institute of Certified </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Public Accountants or in such other statements by such other entity as approved by a significant segment of the accounting profession, consistently applied; <U>provided</U> that for the purposes
of complying with Section&nbsp;4.13, GAAP in effect on the date of such reports shall be applied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Global Note Legend</U>&#148;
means the legend set forth in Section&nbsp;2.06(g)(ii), which is required to be placed on all Global Notes issued under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Global Notes</U>&#148; means, individually and collectively, each of the Restricted Global Notes and the Unrestricted Global Notes,
substantially in the form of <U>Exhibit&nbsp;A</U> hereto, issued in accordance with Sections&nbsp;2.01, 2.06(b)&nbsp;or 2.06(d). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee</U>&#148; means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness
of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (1)&nbsp;to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by agreements to keep-well, to purchase assets, goods, securities or services (unless such purchase arrangements are on arm&#146;s-length terms and are
entered into in the ordinary course of business), to take-or-pay, or to maintain financial statement conditions or otherwise) or (2)&nbsp;entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment
thereof or to protect such obligee against loss in respect thereof (in whole or in part); <U>provided</U> that the term &#147;Guarantee&#148; shall not include endorsements for collection or deposit in the ordinary course of business. The term
&#147;Guarantee&#148; used as a verb has a corresponding meaning. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantor</U>&#148; means any Subsidiary of the Company (other
than Wise Finance) that provides a Subsidiary Guarantee with respect to the Notes, including any Person that is required after the Closing Date to execute a Subsidiary Guarantee of the Notes pursuant to Section&nbsp;4.08 until such Person&#146;s
Subsidiary Guarantee is released in accordance with this Indenture or until a successor replaces such Person pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hedging Obligations</U>&#148; means, with respect to any Person, the obligations of such Person under: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement,
interest rate cap agreement, interest rate collar agreement or other similar agreement or arrangement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) any commodity forward
contract, commodity swap agreement, commodity option agreement or other similar agreement or arrangement; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) any foreign exchange
contract, currency swap agreement or other similar agreement or arrangement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Holder</U>&#148; means a Person in whose name a
Note is registered on the Registrar&#146;s books. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>IAI Note Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(iii) to be
placed on all Definitive Notes issued under this Indenture to an Institutional Accredited Investor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indebtedness</U>&#148;
means, with respect to any specified Person, any indebtedness of such Person, contingent or otherwise (but excluding accrued expenses and trade payables), in respect of: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) borrowed money; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) bonds,
notes, debentures or similar instruments or letters of credit (or reimbursement agreements in respect thereof), but excluding obligations with respect to letters of credit (including trade letters of credit) or similar obligations (such as bank
Guarantees), entered into in the ordinary course of business of such Person (and not for borrowed money) to the extent such letters of credit or similar obligations are not drawn upon or, if drawn upon, to the extent such drawing is reimbursed no
later than the fifth Business Day following receipt by such Person of a demand for reimbursement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) banker&#146;s acceptances; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Capital Lease Obligations and Attributable Debt; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) the balance, deferred and unpaid, of the purchase price of any property (except any such balance that constitutes an accrued expense or
trade payable) due more than six&nbsp;months after such property is acquired; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) any Hedging Obligations; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) all amounts outstanding and other obligations of such Person in respect of a Qualified Securitization Transaction; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">if and to the extent any of the preceding (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance
sheet of the specified Person prepared in accordance with GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, the term &#147;Indebtedness&#148; includes all Indebtedness
of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) (the amount of such Indebtedness as of any date being deemed to be the lesser of the value of such property or
assets as of such date or the principal amount of such Indebtedness of such other Person) and, to the extent not otherwise included, the Guarantee by such Person of any Indebtedness of any other Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indenture</U>&#148; means this Indenture, as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indenture Obligations</U>&#148; means the obligations of the Issuers and any other obligor under this Indenture or under the Notes,
including any Guarantor, to pay principal of, premium, if any, and interest when due and payable, and all other amounts due or to become due under or in connection with this Indenture and the Notes and the performance of all other obligations to the
Trustee and the Holders under this Indenture and the Notes, according to the respective terms thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indirect Participant</U>&#148; means a Person who holds a beneficial interest in a
Global Note through a Participant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Initial Notes</U>&#148; has the meaning set forth in the recitals hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Initial Purchasers</U>&#148; means Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith Incorporated, Wells Fargo Securities, LLC and
Houlihan Lokey Capital, Inc. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Institutional Accredited Investor</U>&#148; means an institution that is an &#147;accredited
investor&#148; as defined in Rule&nbsp;501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act, who is not also a QIB. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intercompany Debt Obligations</U>&#148; means any Indebtedness of the Company or any of its Restricted Subsidiaries which is owed to
the Company or any of its Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intercreditor Agreement</U>&#148; means the Intercreditor Agreement, dated as
of the Closing Date, among the ABL Facility Collateral Agent, Wells Fargo Bank, National Association, as Trustee and Collateral Agent, and Rexam, as acknowledged and agreed to by the Issuers and the Guarantors, as amended, modified, restated,
supplemented or replaced from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>interest</U>&#148; with respect to the Notes means interest with respect thereto.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Payment Date</U>&#148; means June&nbsp;15 and December&nbsp;15 of each year until the maturity date of the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Grade</U>&#148; means (1)&nbsp;BBB- or above, in the case of S&amp;P (or its equivalent under any successor Rating
Categories of S&amp;P), and Baa3 or above, in the case of Moody&#146;s (or its equivalent under any successor Rating Categories of Moody&#146;s), or (2)&nbsp;the equivalent in respect of the Rating Categories of any other Rating Agencies, in each
case, without regard to outlook. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investments</U>&#148; means, with respect to any Person, all investments by such Person in
other Persons (including Affiliates) in the forms of direct or indirect loans (including Guarantees of Indebtedness or other obligations), advances or capital contributions (excluding commission, travel and similar advances to officers and employees
made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, to the extent that such items are or would be classified as investments on a balance sheet prepared in
accordance with GAAP. &#147;Investments&#148; shall also include (1)&nbsp;the designation of a Restricted Subsidiary as an Unrestricted Subsidiary and (2)&nbsp;the retention of the Equity Interests (or any other Investment) by the Company or any of
its Restricted Subsidiaries of (or in) any Person that has ceased to be a Restricted Subsidiary. For purposes of the definition of &#147;Unrestricted Subsidiary&#148; and Section&nbsp;4.04, the amount of or a reduction in an Investment shall be
equal to the Fair Market Value thereof at the time such Investment is made or reduced. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuers</U>&#148; means Wise Metals Group LLC, a limited liability company formed under
the laws of the State of Delaware, until a successor Person shall have become such pursuant to the applicable provisions of this Indenture and Wise Alloys Finance Corporation, a corporation incorporated under the laws of the State of Delaware, until
a successor Person shall have become such pursuant to the applicable provisions of this Indenture, and thereafter &#147;Issuers&#148; shall mean each such successor Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lien</U>&#148; means any mortgage, lien, pledge, security interest, conditional sale or other title retention agreement, charge or
other security interest or encumbrance of any kind in respect of any asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement or any lease in the nature
thereof; any option or other agreement to sell or give a security interest therein and any filing of, or agreement to file, any financing statement under the UCC (or equivalent statutes of any jurisdiction). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Moody&#146;s</U>&#148; means Moody&#146;s Investors Service, Inc. and its successors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Cash Proceeds</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) with respect to any Asset Sale, the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries (including,
without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of the direct costs relating to such Asset Sale, including, without limitation, legal, accounting and investment
banking fees, and sales commissions, and any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof, in each case after taking into account any available tax credits or deductions, any tax sharing arrangements
and amounts used to repay Indebtedness secured by a Lien on the asset or assets that were the subject of such Asset Sale and appropriate amounts to be provided by the Company or any Restricted Subsidiary as a reserve against any liabilities
associated with such Asset Sale, including, without limitation, pension and other post-employment benefit liabilities, liabilities related to environmental matters and liabilities under any indemnification obligations associated with such Asset
Sale, all as determined in conformity with GAAP; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) with respect to any issuance or sale of Equity Interests, the proceeds of such
issuance or sale in the form of cash or cash equivalents, including payments in respect of deferred payment obligations (to the extent corresponding to the principal, but not interest, component thereof) when received in the form of cash or cash
equivalents and proceeds from the conversion of other property received when converted to cash or cash equivalents, net of attorney&#146;s fees, accountants&#146; fees, underwriters&#146; or placement agents&#146; fees, discounts or commissions and
brokerage, consultant and other fees incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Income</U>&#148; means, with respect to any Person, the net income (loss) of such Person and its Restricted Subsidiaries,
determined in accordance with GAAP and before any reduction in respect of preferred stock dividends. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-recourse Indebtedness</U>&#148; means, with respect to any Person, Indebtedness of
such Person as to which the Company and any Restricted Subsidiary shall not be directly or indirectly liable (by virtue of the Company or any such Restricted Subsidiary being the primary obligor on, guarantor of or otherwise liable in any respect to
such Indebtedness, except for a Lien on the Equity Interests of an Unrestricted Subsidiary to the creditors thereof which is not recourse to any other assets of the Company or a Restricted Subsidiary), and which, upon the occurrence of a default
with respect to such Indebtedness, does not result in, or permit any holder of any Indebtedness of the Company or any Restricted Subsidiary to declare, a default on such Indebtedness of the Company or any Restricted Subsidiary or cause the payment
of Indebtedness of the Company or any Restricted Subsidiary to be accelerated or payable prior to its Stated Maturity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-U.S.
Person</U>&#148; means a Person who is not a U.S. Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Note Liens</U>&#148; means all Liens in favor of the Collateral Agent
on Collateral securing the Indenture Obligations and any Permitted Additional Pari Passu Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Notes</U>&#148; means any
Note authenticated and delivered under this Indenture, including the Initial Notes and any Additional Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Noteholder Priority
Collateral</U>&#148; has the meaning provided by the Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Obligations</U>&#148; means any principal,
premium, interest (including any interest accruing subsequent to the filing of a petition in bankruptcy, reorganization or similar proceeding at the rate provided for in the documentation with respect thereto, whether or not such interest is an
allowed claim under applicable state, federal or foreign law), penalties, fees, indemnifications, reimbursements (including reimbursement obligations with respect to letters of credit and banker&#146;s acceptances), damages and other liabilities,
and Guarantees of payment of such principal, interest, penalties, fees, indemnifications, reimbursements, damages and other liabilities, payable under the documentation governing any Indebtedness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Offering Memorandum</U>&#148; means the offering memorandum, dated November&nbsp;26, 2013, relating to the sale of the Initial Notes.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Offer to Purchase</U>&#148; means an offer to purchase Notes by the Issuers from the Holders commenced by mailing a notice to
the Trustee and each Holder stating: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) the covenant pursuant to which the offer to purchase is being made and that all Notes validly
tendered will be accepted for payment on a <U>pro rata</U> basis; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the purchase price and the date of purchase (which shall be a
Business Day no earlier than 30&nbsp;days nor later than 60&nbsp;days from the date such notice is mailed) (the &#147;<U>Payment Date</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) that any Note not tendered will continue to accrue interest pursuant to its terms; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) that, unless the Issuers default in the payment of the purchase price, any Note accepted for
payment pursuant to the Offer to Purchase shall cease to accrue interest on and after the Payment Date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) that Holders electing to have
a Note purchased pursuant to the Offer to Purchase will be required to surrender the Note, together with the form entitled &#147;Option of Holder to Elect Purchase&#148; on the reverse side of the Note completed, to the Paying Agent at the address
specified in the notice prior to the close of business on the third Business Day immediately preceding the Payment Date; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) that
Holders whose Notes are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered; <U>provided</U> that each Note purchased and each new Note issued shall be in a principal
amount of $2,000 or integral multiples of $1,000 in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Payment Date, the Issuers shall (a)&nbsp;accept for payment on
a <U>pro rata</U> basis Notes or portions thereof tendered pursuant to an Offer to Purchase; (b)&nbsp;deposit with the Paying Agent money sufficient to pay the purchase price of all Notes or portions thereof so accepted; and (c)&nbsp;deliver, or
cause to be delivered, to the Trustee all Notes or portions thereof so accepted together with an Officers&#146; Certificate specifying the Notes or portions thereof accepted for payment by the Issuers. The Paying Agent shall promptly mail to the
Holders of Notes so accepted payment in an amount equal to the purchase price, and the Trustee shall promptly authenticate and mail to such Holders a new Note equal in principal amount to any unpurchased portion of the Note surrendered;
<U>provided</U> that each Note purchased and each new Note issued shall be in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof. The Issuers will publicly announce the results of an Offer to Purchase as soon as
reasonably practicable after the Payment Date. The Trustee shall act as the Paying Agent for an Offer to Purchase. The Issuers will comply with Rule&nbsp;14e-1 under the Exchange Act and any other securities laws and regulations thereunder to the
extent such laws and regulations are applicable, in the event that the Issuers are required to repurchase Notes pursuant to an Offer to Purchase and if following that law or applicable securities laws and regulations conflicts with this Indenture,
the Issuers will comply with the law and applicable securities laws and regulations and shall not be deemed to have breached their obligations described in this Indenture by virtue thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Officer</U>&#148; means, with respect to any of the Issuers or the Guarantors, (i)&nbsp;the Chairman of the Board, any Vice Chairman
of the Board, the Chief Executive Officer, the Chief Operating Officer, the President, any Senior Vice President, any Vice President or the Chief Financial Officer, and (ii)&nbsp;the Treasurer or any Assistant Treasurer, or the Secretary or any
Assistant Secretary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Officers&#146; Certificate</U>&#148; means a certificate signed by one Officer listed in
clause&nbsp;(i)&nbsp;of the definition thereof and one Officer listed in clause&nbsp;(ii)&nbsp;of the definition thereof or two officers listed in clause&nbsp;(i)&nbsp;of the definition thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>OID Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(iv)&nbsp;to be
placed on all Notes issued under this Indenture that have more than a <U>de minimis</U> amount of original issue discount for U.S. federal income tax purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Opinion of Counsel</U>&#148; means a written opinion from legal counsel which is reasonably acceptable to the Trustee. The counsel
may be an employee of or counsel to the Issuers or a Restricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Participant</U>&#148; means, with respect to the
Depositary, Euroclear or Clearstream, a Person who has an account with the Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Additional Pari Passu Obligations</U>&#148; means obligations under any Additional Notes or any other Indebtedness (whether
or not consisting of Additional Notes) secured by the Note Liens under clause&nbsp;(6) of the definition of Permitted Liens; <U>provided</U> that (i)&nbsp;except in the case of Additional Notes, the trustee or agent under such Permitted Additional
Pari Passu Obligation executes a joinder agreement to the Security Agreement agreeing to be bound thereby and (ii)&nbsp;the Issuers have designated such Indebtedness as &#147;Permitted Additional Pari Passu Obligations&#148; under the Security
Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Business</U>&#148; means any business conducted or proposed to be conducted (as described in the Offering
Memorandum) by the Company and its Subsidiaries on the Closing Date and other businesses reasonably related or ancillary thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Holders</U>&#148; means (i)&nbsp;David D&#146;Addario, (ii)&nbsp;members of his immediate family, (iii)&nbsp;corporations,
partnerships, limited liability companies or other entities which are owned or controlled by David D&#146;Addario or members of his immediate family and (iv)&nbsp;trusts created by David D&#146;Addario or members of his immediate family for the
benefit of David D&#146;Addario and members of his immediate family. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Indebtedness</U>&#148; means Indebtedness that
falls into any of the following categories: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) Indebtedness of the Company or any of its Restricted Subsidiaries outstanding on the
Closing Date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the Notes offered by the Offering Memorandum and the related Subsidiary Guarantees; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) Indebtedness under Credit Facilities outstanding at any time in an aggregate principal amount not to exceed the greater of $300 million
and the Borrowing Base (less the aggregate principal amount of Indebtedness incurred by Securitization Entities and then outstanding pursuant to clause&nbsp;(11) of this definition of Permitted Indebtedness); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Indebtedness under the Rexam Obligations; <U>provided</U> that the aggregate principal amount of such Indebtedness does not to exceed
$25.0 million, less the aggregate amount of all repayments, repurchases, redemptions, rebates or credits, whether optional or mandatory, in respect thereof, plus interest thereon (whether or not capitalized) at the rate provided in the Rexam
Documents and any permitted refinancing thereof; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Indebtedness issued in exchange for, or the net proceeds of which are used to refinance or
refund (which shall include extensions, renewals, replacements, defeasances, discharges, deferrals, amendments, supplements and modifications), then outstanding Indebtedness (other than Indebtedness outstanding under clauses&nbsp;(3), (6), (7), (8),
(9), (10), (11), (12), (13), (14), (15), (16)&nbsp;and (17))&nbsp;and any refinancings thereof in an amount not to exceed the amount so refinanced or refunded (plus premiums (including tender premiums), accrued interest, defeasance costs, fees and
expenses and, in the case of convertible Indebtedness, including any equity component representing the issuance date estimated fair value of the conversion feature); <U>provided</U> that (a)&nbsp;Indebtedness the proceeds of which are used to
refinance or refund the Notes or Indebtedness that is <U>pari passu</U> with, or subordinated in right of payment to, the Notes or the applicable Subsidiary Guarantee shall only be permitted under this clause&nbsp;(5) if (x)&nbsp;in case the Notes
are refinanced in part or the Indebtedness to be refinanced is <U>pari passu</U> with the Notes or the applicable Subsidiary Guarantee, such new Indebtedness, by its terms or by the terms of any agreement or instrument pursuant to which such new
Indebtedness is outstanding, is expressly made <U>pari passu</U> with, or subordinate in right of payment to, the remaining Notes or the applicable Subsidiary Guarantee, or (y)&nbsp;in case the Indebtedness to be refinanced is subordinated in right
of payment to the Notes or the applicable Subsidiary Guarantee such new Indebtedness, by its terms or by the terms of any agreement or instrument pursuant to which such new Indebtedness is issued or remains outstanding, is expressly made subordinate
in right of payment to the Notes or the applicable Subsidiary Guarantee at least to the extent that the Indebtedness to be refinanced is subordinated to the Notes, (b)&nbsp;such new Indebtedness, determined as of the date of incurrence of such new
Indebtedness, does not mature prior to the Stated Maturity of the Indebtedness to be refinanced or refunded, and the Average Life of such new Indebtedness is at least equal to the remaining Average Life of the Indebtedness to be refinanced or
refunded and (c)&nbsp;Indebtedness of the Issuers or a Guarantor may only be refinanced with Indebtedness of the Issuers or a Guarantor for purposes of this clause&nbsp;(5); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) Intercompany Debt Obligations between or among the Company and any of its Restricted Subsidiaries; <U>provided</U> that
(i)&nbsp;(a)&nbsp;any subsequent issuance or transfer of any Equity Interests that results in such Indebtedness being held by a Person other than the Company or a Restricted Subsidiary and (b)&nbsp;any sale or other transfer of such Indebtedness to
a Person other than the Company or a Restricted Subsidiary shall each be deemed to be an incurrence of Indebtedness by the obligor that is not permitted by this clause&nbsp;(6) if and to the extent that such obligor is the Company or a continuing
Restricted Subsidiary of the Company and (ii)&nbsp;any Indebtedness of the Issuers or a Guarantor owing to a Restricted Subsidiary that is not an Issuer or a Guarantor incurred after the Closing Date is unsecured and is subordinated in right of
payment to the Notes and the Subsidiary Guarantee of such Guarantor, as the case may be; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) additional Indebtedness of the Company and
its Restricted Subsidiaries in an aggregate principal amount outstanding at any time not to exceed the greater of $25.0 million or 5.0% of Total Assets, including all Indebtedness incurred or issued to renew, refund, refinance, replace, defease or
discharge any Indebtedness pursuant to this clause&nbsp;(7); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) Indebtedness represented by Guarantees by the Company or its Restricted Subsidiaries of
Indebtedness otherwise permitted to be incurred; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) Indebtedness of the Company or any Restricted Subsidiary consisting of Guarantees,
indemnities or obligations in respect of purchase price adjustments, holdbacks or contingency payments in connection with the acquisition or disposition of assets (other than Guarantees of Indebtedness incurred by any Person acquiring such assets
for the purpose of financing such acquisition), so long as the amount does not exceed the gross proceeds actually received by the Company in connection with such disposition; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) Indebtedness of the Company or any of its Restricted Subsidiaries in respect to performance bonds, bankers&#146; acceptances, workers
compensation claims, bid, surety or appeal bonds payment obligations, earn-outs, insurance premium financing agreements, <FONT STYLE="white-space:nowrap">self-insurance</FONT> or similar obligations, bank overdrafts and similar obligations in the
ordinary course of business; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) Indebtedness incurred by a Securitization Entity in connection with a Qualified Securitization
Transaction that is Non-recourse Indebtedness with respect to the Company and its Restricted Subsidiaries (except for Standard Securitization Undertakings); <U>provided</U>, <U>however</U>, that in the event such Securitization Entity ceases to
qualify as a Securitization Entity or such Indebtedness becomes recourse to the Company or any of its Restricted Subsidiaries, such Indebtedness will, in each case, be deemed to be, and must be classified by the Company as, incurred at such time (or
at the time initially incurred) under one more of the other provisions of this definition or Section&nbsp;4.03; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) Indebtedness
incurred by the Company or any Restricted Subsidiary (including Acquired Indebtedness, Capital Lease Obligations, sale-leaseback transactions, mortgage financings or purchase money obligations) and Disqualified Stock or preferred stock issued by the
Company or any Restricted Subsidiary, in each case, for the purpose of financing all or any part of the purchase price, lease or cost of design, construction, installation or improvement of property (real or personal), plant, equipment or other
assets used in the business of the Company or any Restricted Subsidiary, in an aggregate principal amount at the time incurred, not to exceed the greater of $25.0 million or 5.0% of Total Assets at any time outstanding, including all Indebtedness
and Disqualified Stock or preferred stock incurred or issued to renew, refund, refinance, replace, defease or discharge any Indebtedness, Disqualified Stock and preferred stock incurred pursuant to this clause&nbsp;(12); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) the incurrence by the Company or any Restricted Subsidiary of Hedging Obligations not for speculative purposes; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) Indebtedness, other than in respect of borrowed money, and incurred in the ordinary course of business (including customer deposits and
advance payments received; take-or-pay obligations contained in supply arrangements; and open accounts extended by suppliers on normal trade terms in connection with purchases of goods and services which are not overdue for a period of more than
90&nbsp;days or, if overdue for more than 90&nbsp;days, as to which a dispute exists and adequate reserves in conformity with GAAP have been established on the books of the Company or a Restricted Subsidiary); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(15) Indebtedness representing deferred compensation to employees of the Company or any
Restricted Subsidiary incurred in the ordinary course of business; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(16) Indebtedness incurred by the Company or any Restricted Subsidiary
constituting reimbursement obligations with respect to letters of credit issued in the ordinary course of business to the extent not drawn upon or, if drawn upon, repaid within 10&nbsp;Business&nbsp;Days; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(17) Indebtedness constituting or arising under Bank Products incurred by the Company or any Restricted Subsidiary in the ordinary course of
business (other than Indebtedness under clause&nbsp;(e) of the definition of &#147;Bank Products&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted
Investments</U>&#148; means, for any Person, Investments made on or after the Closing Date consisting of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) Investments by the Company,
or by a Restricted Subsidiary thereof, in the Company or a Restricted Subsidiary (other than a Securitization Entity and other than a transfer of Noteholder Priority Collateral or Specified Mill Assets to a Restricted Subsidiary that is not a
Guarantor) or in a Person, if as a result of such Investment (a)&nbsp;such Person becomes a Restricted Subsidiary of the Company (other than a Securitization Entity) or (b)&nbsp;such Person is merged, consolidated or amalgamated with or into, or
transfers or conveys all or substantially all of its assets to, or is liquidated into, the Company or any Restricted Subsidiary thereof (other than a Securitization Entity); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) cash or Temporary Cash Investments; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) an Investment that is made as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant to, and in
compliance with, Section&nbsp;4.07 or any disposition of assets not constituting an Asset Sale; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Investments consisting of
(a)&nbsp;loans and advances to employees, officers and directors for reasonable travel, relocation and business expenses in the ordinary course of business not to exceed $2.0 million in the aggregate at any one time outstanding and (b)&nbsp;loans to
employees, officers and directors of the Company or its Restricted Subsidiaries for the sole purpose of purchasing equity of the Company not to exceed $7.5 million in the aggregate at any one time outstanding; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Investments existing on, or made pursuant to binding commitments existing on, the Closing Date; <U>provided</U> that the amount of any
such Investment may be increased (a)&nbsp;as required by the terms of such Investment as in existence on the Closing Date or (b)&nbsp;as otherwise permitted under this Indenture; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) Investments of the Company or any Restricted Subsidiary in connection with Hedging Obligations that are incurred for the purpose of fixing
or hedging risk and not for speculative purposes; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) Investments consisting of endorsements for collection or deposit in the ordinary
course of business; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) Investments in suppliers or customers that are received in compromise or resolution of
litigation, arbitration or other disputes or of obligations of trade creditors or customers that were incurred in the ordinary course of business of the Company and its Restricted Subsidiaries, including pursuant to bankruptcy, receivership or
similar proceedings or as a result of foreclosure on a secured Investment in a third party received in exchange for or cancellation of an existing obligation of such supplier or customer to the Company or a Restricted Subsidiary; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) Investments paid for solely with Equity Interests (other than Disqualified Stock) of the Company; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) deposits required by government agencies, public utilities or suppliers in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) prepaid expenses incurred in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) extensions of trade credit in the ordinary course of business recorded as accounts receivable; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) Investments acquired after the Closing Date as a result of the acquisition by the Company or any Restricted Subsidiary of another Person,
including by way of a merger, amalgamation or consolidation with or into the Company or any of its Restricted Subsidiaries in a transaction that is not prohibited by Section&nbsp;5.01 after the Closing Date to the extent that such Investments were
not made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) Investments with respect to performance bonds, bankers&#146; acceptance, workers&#146; compensation claims, surety or appeal bond
payments, obligations in connection with self-insurance or similar obligations and bank overdrafts; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(15) Investments in joint ventures,
partnerships or otherwise, not to exceed $20.0 million at any time outstanding; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(16) Investments by the Company or a Restricted
Subsidiary in a Securitization Entity in connection with a Qualified Securitization Transaction, which Investment is in the good faith determination of the Company necessary or advisable to effect such Qualified Securitization Transaction; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(17) Investments consisting of the licensing, sublicensing or contribution of intellectual property pursuant to joint marketing arrangements;
provided that such licenses, sublicenses or contributions, individually or in the aggregate, do not materially adversely affect or reduce the value of the intellectual property retained by the Issuers or any Restricted Subsidiary; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(18) Investments (other than Investments specified in clauses (1)&nbsp;through (17)&nbsp;above) in an aggregate amount, as valued at the time
each such Investment is made, not to exceed the greater of $15.0 million or 3.0% of Total Assets at any time after the Closing Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Liens</U>&#148; means Liens that fit into any of the following categories:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any Lien with respect to the Credit Agreement or any other Credit Facility so long as the aggregate principal amount outstanding
under the Credit Agreement any successor Credit Facility that is secured pursuant to this clause&nbsp;(1)&nbsp;is incurred under and does not exceed the principal amount which could be borrowed under clause&nbsp;(3)&nbsp;of the definition of
&#147;Permitted Indebtedness&#148;; <U>provided</U> that any Liens outstanding under this clause&nbsp;(1)&nbsp;shall not be on any Noteholder Priority Collateral on a first-priority basis; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) Liens on the Specified Mill Assets securing the Rexam Obligations to the extent permitted under clause&nbsp;(4)&nbsp;of the definition of
&#147;Permitted Indebtedness;&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) any Liens on assets of the Company or any Restricted Subsidiary existing on the Closing Date
other than Liens securing the Credit Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Liens on assets acquired after the Closing Date that were existing at the time of the
acquisition by the Company or any Restricted Subsidiary thereof; <U>provided</U> such Liens were in existence prior to the contemplation of such acquisition and do not extend to any other assets; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Liens on assets to secure the purchase price of assets to be acquired and Indebtedness permitted by clause&nbsp;(12) of the definition of
&#147;Permitted Indebtedness,&#148; which Liens cover only the assets acquired with such Indebtedness and proceeds or products of such property or assets or improvements of such property or assets); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) Liens securing Permitted Additional Pari Passu Obligations in an aggregate amount not to exceed $75.0 million; <U>provided</U> that the
proceeds of such obligations are used solely for improvements or additions to the Noteholder Priority Collateral; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) Liens on an entity
or its assets existing at the time the entity becomes a Restricted Subsidiary or is merged with the Company or any of its Restricted Subsidiaries or assumed in connection with the acquisition of its assets; <U>provided</U> that such Liens were in
existence prior to the contemplation of such acquisition or merger and do not extend to any assets other than those of the Person that becomes a Restricted Subsidiary or is merged with the Company or any of its Restricted Subsidiaries; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) statutory liens of landlords and carriers&#146;, warehousemen&#146;s, mechanics&#146;, materialmen&#146;s, repairmen&#146;s or other like
Liens for amounts not overdue for more than 90&nbsp;days or being contested in good faith by appropriate proceedings; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) judgment Liens
and other similar Liens arising in the ordinary course of business; <U>provided</U> that (a)&nbsp;the enforcement of the Liens is stayed, (b)&nbsp;the claims secured by the Liens are being actively contested, in good faith and by appropriate
proceedings, and (c)&nbsp;the judgment would not otherwise constitute a Default or Event of Default under this Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) Liens
securing Intercompany Debt Obligations incurred in accordance with this Indenture (other than Liens in favor of a Securitization Entity); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) Liens for taxes, assessments or governmental charges not yet overdue for a period of more
than 30&nbsp;days or payable or subject to penalties for nonpayment or that are being contested in good faith; <U>provided</U> that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been made
therefor; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) Liens on property of a Foreign Subsidiary to secure Indebtedness solely of that Foreign Subsidiary that is otherwise
permitted under the terms of this Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) Liens on foreign bank accounts in accordance with customary banking practice; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) easements, rights-of-way, restrictions and other similar encumbrances to the extent they are incurred in the ordinary course of business;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(15) pledges or deposits made in the ordinary course of business in connection with workers&#146; compensation, unemployment insurance
and other social security legislation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(16) deposits and other Liens to secure letters of credit and bank Guarantees and the performance
of bids, trade contracts (other than for borrowed money), leases, statutory obligations, surety and appeal bonds, performance bonds and other similar obligations incurred in the ordinary course of business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(17) judgment Liens not giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings
which may have been duly initiated for the review of such judgment shall not have been terminated or the period within which such proceedings may be initiated shall not have expired; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(18) Liens to secure Hedging Obligations and obligations with respect to Bank Products, in each case, incurred in the ordinary course of
business, and in the case of Hedging Obligations for the purpose of fixing or hedging interest rate risk, foreign currency risk or financial and other similar risks (including commodity and fuel price risks) and not for speculative purposes (other
than Liens securing obligations described in clause&nbsp;(e) of the definition of &#147;Bank Products&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(19) Liens in favor of
customs and revenue authorities arising as a matter of law to serve as payment of custom duties in connection with the importation of goods; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(20) leases, subleases or licenses and sublicenses granted to others that do not materially interfere with the ordinary course of business of
the Company and its Restricted Subsidiaries; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(21) Liens arising from the filing of UCC financing statements regarding leases; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(22) Liens in favor of the Company or a Restricted Subsidiary; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(23) Liens securing Indebtedness which is incurred to refinance secured Indebtedness; <U>provided</U> that such Liens do not extend to or
cover any property or assets of the Company or any Restricted Subsidiary other than the property or assets securing the Indebtedness being refinanced; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(24) Liens created for the benefit of (or to secure) the Notes or any Subsidiary Guarantees of
the Notes; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(25) Liens on insurance policies and proceeds thereof, or other deposits, to secure insurance premium financings; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(26) Liens on cash or other property securing Indebtedness to defease, discharge or redeem the Notes; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(27) customary options, put and call arrangements, rights of first refusal and similar rights relating to Investments in joint ventures or
partnerships; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(28) restrictions on dispositions of assets to be disposed of pursuant to merger agreements, stock or asset purchase
agreements and similar agreements; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(29) Liens on Equity Interests in Unrestricted Subsidiaries securing only Indebtedness of Unrestricted
Subsidiaries; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(30) Liens deemed to exist in connection with repurchase agreements and other similar investments to the extent such
Investments are permitted under this Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(31) Liens on assets transferred to a Securitization Entity or on assets of a
Securitization Entity, in either case transferred in connection with a Qualified Securitization Transaction; <U>provided</U> that any Liens outstanding under this clause&nbsp;(31) shall not be on any Noteholder Priority Collateral on a
first-priority basis; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(32) Liens on Excluded Assets (as defined in the Security Agreement) not otherwise permitted by
clause&nbsp;(1)&nbsp;through (31)&nbsp;above securing Indebtedness in aggregate principal amount at any time not to exceed $10.0&nbsp;million. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Tax Distributions</U>&#148; means the payment of any dividend or distribution to the direct or indirect holders of Equity
Interests in the Company (who are not exempt from tax in respect of the Company&#146;s income) in an amount not to exceed the net taxable income of the Company allocable to such holders multiplied by 48.8%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a
trust, an unincorporated organization or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Private Placement Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(i)&nbsp;to be placed on all Notes issued under
this Indenture, except where specifically stated otherwise by the provisions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>QIB</U>&#148; means a
&#147;qualified institutional buyer&#148; as defined in Rule&nbsp;144A. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Qualified Securitization Transaction</U>&#148; means any transaction or series of
transactions that may be entered into by the Issuers or any Restricted Subsidiary pursuant to which (a)&nbsp;the Issuers or any Restricted Subsidiary may sell, convey or otherwise transfer to a Securitization Entity its interests in Receivables and
Related Assets and (b)&nbsp;such Securitization Entity transfers to any other Person, or grants a security interest in, such Receivables and Related Assets, pursuant to a transaction customary in the industry which is used to achieve a transfer of
financial assets under GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rating Agencies</U>&#148; means (1)&nbsp;S&amp;P and Moody&#146;s or (2)&nbsp;if S&amp;P or
Moody&#146;s or both of them are not making ratings of the Notes publicly available, a &#147;nationally recognized statistical rating agency&#148; within the meaning of Section&nbsp;3(62) of the Exchange Act, as the case may be, selected by the
Issuers, which will be substituted for S&amp;P or Moody&#146;s or both, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rating Category</U>&#148; means
(1)&nbsp;with respect to S&amp;P, any of the following categories (any of which may include a &#147;+&#148; or &#147;-&#148;): AAA, AA, A, BBB, BB, B, CCC, CC, C and D (or equivalent successor categories), (2)&nbsp;with respect to Moody&#146;s, any
of the following categories: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C and D (or equivalent successor categories), and (3)&nbsp;the equivalent of any such categories of S&amp;P or Moody&#146;s used by another Rating Agency, if applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receivables and Related Assets</U>&#148; means any account receivable (whether now existing or arising thereafter) of the Issuers or
any Restricted Subsidiary, and any assets related thereto including all collateral securing such accounts receivable, all contracts and contract rights and all Guarantees or other obligations in respect of such accounts receivable, proceeds of such
accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Record Date</U>&#148; for the interest payable on any applicable Interest Payment Date means the June&nbsp;1 or December&nbsp;1
(whether or not a Business Day) immediately preceding such Interest Payment Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Date</U>&#148; when used with
respect to any Note to be redeemed pursuant to any provision in this Indenture means the date fixed for such redemption pursuant to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Price</U>&#148; means, when used with respect to any Note to be redeemed, the price at which such Note is to be redeemed
pursuant to this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S</U>&#148; means Regulation&nbsp;S promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Global Note</U>&#148; means a Regulation&nbsp;S Temporary Global Note or a Regulation&nbsp;S Permanent Global Note,
as appropriate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Permanent Global Note</U>&#148; means a Global Note substantially in the form of
<U>Exhibit&nbsp;A-1</U> hereto, bearing the Global Note Legend, the OID Legend (if applicable) and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination
equal to the outstanding principal amount of the Notes sold in reliance on Regulation&nbsp;S. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Temporary Global Note</U>&#148; means a temporary Global Note in the
form of <U>Exhibit&nbsp;A-2</U>, bearing the Global Note Legend, OID Legend (if applicable), the Private Placement Legend and the Regulation&nbsp;S Temporary Global Note Legend and deposited with or on behalf of and registered in the name of the
Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes initially sold in reliance on Rule&nbsp;903 of Regulation&nbsp;S. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Temporary Global Note Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(v)&nbsp;to be placed on
the Regulation&nbsp;S Temporary Global Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Replacement Assets</U>&#148; means, on any date, property or assets (other than
current assets) of a nature or type or that are used in a business (or an Investment in a company having property or assets of a nature or type, or engaged in a business) similar or related or complementary to the nature or type of the property and
assets of, or the business of, the Company and its Restricted Subsidiaries existing on such date; <U>provided</U> that (a)&nbsp;in the case of a sale of Specified Mill Assets after the Discharge of Rexam Obligations or a sale of Noteholder Priority
Collateral, substantially all of such replacement property or assets constitute Noteholder Priority Collateral and (b)&nbsp;in the case of Replacement Assets in the form of Equity Interests of a Person, such Person is, or becomes as a result of the
acquisition of such Equity Interests, a Restricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Responsible Officer</U>&#148; means, when used with respect to
the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, trust officer or any other officer of the Trustee who customarily performs functions similar to those performed by
the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such Person&#146;s knowledge of and familiarity with the particular subject and who shall have direct responsibility for
the administration of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Definitive Note</U>&#148; means a Definitive Note bearing the Private Placement
Legend and the OID Legend (if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Global Note</U>&#148; means a Global Note bearing the Private Placement
Legend and the OID Legend (if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Investment</U>&#148; means an Investment made after the Closing Date other
than Permitted Investments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Payment</U>&#148; means the Company or any of its Restricted Subsidiaries, directly or
indirectly, does any of the following: (1)&nbsp;either (a)&nbsp;declares or pays any dividend on or makes any distribution in respect of its Equity Interests or to the direct or indirect holders of its Equity Interests in their capacity as such
(other than dividends or distributions payable in its Equity Interests (other than Disqualified Stock) or to the Company or any of its Restricted Subsidiaries), or (b)&nbsp;purchases, redeems or retires for value Equity Interests of the Company
(other than Equity Interests owned by the Company or any of its Restricted Subsidiaries); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(2)&nbsp;makes any principal payment on or with respect to, or redeems, repurchases, defeases or otherwise acquires or retires for value prior to its scheduled maturity, scheduled repayment or
scheduled sinking fund payment, any Indebtedness of the Company or a Restricted Subsidiary that is contractually subordinated in right of payment to the Notes or any Subsidiary Guarantee (other than (x)&nbsp;Intercompany Debt Obligations permitted
under clause&nbsp;(6) of the definition of &#147;Permitted Indebtedness&#148; or (y)&nbsp;in anticipation of satisfying a principal payment, final maturity or sinking fund obligation, in each case due within one year of the date of such payment,
purchase, repurchase or other acquisition) or (3)&nbsp;makes any Restricted Investment. For the avoidance of doubt, no Indebtedness will be deemed to be subordinated in right of payment to any other Indebtedness solely by virtue of being unsecured,
by virtue of being secured by different collateral or by virtue of the fact that the holders of any secured Indebtedness have entered into intercreditor agreements giving one or more of such holders priority over the other holders in the collateral
held by them or with respect to control of remedies. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Period</U>&#148; means the 40-day distribution compliance period
as defined in Regulation&nbsp;S. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Subsidiary</U>&#148; means any Subsidiary of either the Company (including Wise
Finance) or Wise Finance, other than an Unrestricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam</U>&#148; means Rexam Beverage Can Company, a Delaware
corporation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam Documents</U>&#148; means the Rexam Advance Extension Agreement, dated as of August&nbsp;21, 2012, by and
between Wise Alloys LLC and Rexam, the Security Agreement, dated as of August&nbsp;21, 2012, by and between Wise Alloys LLC and Rexam and other related documents, each as amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam Obligations</U>&#148; means all obligations, liabilities and Indebtedness of every kind, nature and description owing by any of
the Issuers or the Guarantors to Rexam, including the principal amount of up to $25,000,000 in the aggregate plus any interest, charges, fees, premiums, indemnities and expenses, however evidenced, whether as principal, surety, endorser, guarantor
or otherwise, in each case arising under the Rexam Documents, whether now existing or hereafter arising, whether arising before or after the commencement of any case with respect to any Issuer or Guarantor under the United States Bankruptcy Code or
any similar statute (and including, without limitation, any principal, interest, fees, costs, expenses and other amounts, whether or not such amounts are allowable in whole or in part, in any such case or similar proceeding), whether direct or
indirect, absolute or contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured, and whether arising directly or howsoever acquired by Rexam. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;144</U>&#148; means Rule&nbsp;144 promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;144A</U>&#148; means Rule&nbsp;144A promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;903</U>&#148; means Rule&nbsp;903 promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;904</U>&#148; means Rule&nbsp;904 promulgated under the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>S&amp;P</U>&#148; means Standard&nbsp;&amp; Poor&#146;s Ratings Services, a division of
McGraw-Hill Financial, Inc. and its successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sale and Leaseback Transactions</U>&#148; means, with respect to the Company or
any Restricted Subsidiary, any transaction involving any of the assets or properties of such Person whether now owned or hereafter acquired, whereby the Company or a Restricted Subsidiary sells or transfers such assets or properties and then or
thereafter leases such assets or properties or any part thereof or any other assets or properties that the Company or such Restricted Subsidiary, as the case may be, intends to use for substantially the same purpose or purposes as the assets or
properties sold or transferred; <U>provided</U> that the following shall be excluded from the definition: (1)&nbsp;a lease for a period, including renewal rights, of not in excess of four years; (2)&nbsp;any lease that secures or relates to
industrial revenue or pollution control bonds; (3)&nbsp;any transaction that is solely between the Company and one or more Wholly Owned Restricted Subsidiaries or solely between Wholly Owned Restricted Subsidiaries; (4)&nbsp;any transaction in which
the Company or such Restricted Subsidiary, within 12&nbsp;months after the sale or transfer of any assets or properties is completed, applies an amount not less than the net proceeds received from such sale in accordance with Section&nbsp;4.07 to
the extent required thereby; and (5)&nbsp;any single transaction or series of related transactions that involve assets having a Fair Market Value of less than $2.5&nbsp;million or the Company receives aggregate consideration of less than $2.5
million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>SEC</U>&#148; means the U.S. Securities and Exchange Commission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations
promulgated by the SEC thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securitization Entity</U>&#148; means a Subsidiary of the Company to which the Issuers or any
Subsidiary of the Issuers transfers Receivables and Related Assets that engages in no activities other than in connection with the financing of Receivables and Related Assets and that is designated by the Company&#146;s Board of Directors (as
provided below) as a Securitization Entity and: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) no portion of the Indebtedness or any other obligations (contingent or otherwise) of
which: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) is Guaranteed by the Issuers or any Restricted Subsidiary (excluding Guarantees (other than for the principal
of, and interest on, Indebtedness) pursuant to Standard Securitization Undertakings); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) is recourse to or obligates the
Issuers or any Restricted Subsidiary (other than such Securitization Entity) in any way other than pursuant to Standard Securitization Undertakings; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) subjects any property or asset of the Issuers or any Restricted Subsidiary (other than such Securitization Entity),
directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) with which neither the Issuers nor any Restricted Subsidiary (other than such Securitization Entity) has any material contract, agreement,
arrangement or understanding </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
other than on terms not materially less favorable to the Issuers or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuers,
other than fees payable in the ordinary course of business in connection with servicing accounts receivable; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) to which neither
Issuer nor any Restricted Subsidiary (other than such Securitization Entity) has any obligation to maintain or preserve such entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any designation of a Subsidiary as a Securitization Entity shall be evidenced to the Trustee by delivering to the Trustee a certified copy of
the resolution of the Board of Directors of the Company giving effect to the designation and an Officers&#146; Certificate of the Company certifying that the designation complied with the preceding conditions and was permitted by this Indenture.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securitization Fees</U>&#148; means reasonable distributions or payments made directly or by means of discounts with respect to
any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Securitization Entity in connection with, any Qualified Securitization Transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securitization Repurchase Obligation</U>&#148; means any obligation of a seller of Receivables and Related Assets in a Qualified
Securitization Transaction to repurchase Receivables and Related Assets arising as a result of a breach of a representation, warranty or covenant or otherwise that are customary for an accounts receivable securitization transaction, including,
without limitation, as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to
the seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Security Agreement</U>&#148; means the Security Agreement, dated as of December&nbsp;11, 2013, by and among the
Issuers, the Guarantors and the Collateral Agent, as the same may be amended, modified, restated, supplemented or replaced from time to time in accordance with its terms. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Security Documents</U>&#148; means the Security Agreement, the Intercreditor Agreement and all of the security agreements, pledges,
collateral assignments, mortgages, deeds of trust, trust deeds, certificates or other instruments evidencing or creating or purporting to create any security interests in favor of the Collateral Agent for its benefit and for the benefit of the
Trustee and the Holders and the holders of any Permitted Additional Pari Passu Obligations, in all or any portion of the Collateral, as amended, modified, restated, supplemented or replaced from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Senior Secured Note Documents</U>&#148; means this Indenture, the Notes, the Subsidiary Guarantees and the Security Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Significant Subsidiary</U>&#148; means, at any date of determination, any Restricted Subsidiary that, together with its Subsidiaries,
(1)&nbsp;for the most recent fiscal year of the Issuers, accounted for more than 10% of the consolidated revenues of the Company and its Restricted Subsidiaries or (2)&nbsp;as of the end of such fiscal year, was the owner of more than 10% of the
consolidated assets of the Company and its Restricted Subsidiaries, all as set forth on the most recently available consolidated financial statements of the Company for such fiscal year. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Mill Assets</U>&#148; means certain equipment and fixtures of the Issuers and
Guarantors constituting the three-stand cold mill located in Muscle Shoals, Alabama, as described in the Intercreditor Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Standard Securitization Undertakings</U>&#148; means representations, warranties, covenants and indemnities entered into by the
Issuers or any Restricted Subsidiary that are reasonably customary in an accounts receivable securitization transaction, including without limitation, those relating to the servicing of the assets of a Securitization Entity; it being understood that
any Securitization Repurchase Obligation that is customary in a Qualified Securitization Transaction shall be deemed to be a Standard Securitization Undertaking. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Stated Maturity</U>&#148; means, (1)&nbsp;with respect to any debt security, the date specified in such debt security as the fixed
date on which the final installment of principal of such debt security is due and payable and (2)&nbsp;with respect to any scheduled installment of principal of or interest on any debt security, the date specified in such debt security as the fixed
date on which such installment is due and payable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary</U>&#148; means, with respect to any Person, any corporation or
other entity more than fifty percent (50%)&nbsp;of whose Equity Interests having by the terms thereof, at that time, ordinary voting power to elect a majority of the directors (or comparable positions) of such entity is at the time owned by such
Person directly or indirectly through Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary Guarantee</U>&#148; means a Guarantee of the Notes in accordance
with the terms of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Temporary Cash Investments</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) investments in marketable direct obligations issued or guaranteed by the United States of America, or of any governmental agency or
political subdivision thereof, maturing within 18&nbsp;months of the date of purchase; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) investments in certificates of deposit, time
deposits, overnight bank deposits, money market deposits and banker&#146;s acceptances issued by a bank organized under the laws of the United States of America or any state thereof or the District of Columbia, in each case having capital and
unimpaired surplus totaling more than $500,000,000 and rated at least A-1 by S&amp;P or P-1 by Moody&#146;s (or such similar equivalent rating by another Rating Agency) (any such bank, an &#147;<U>Approved Bank</U>&#148;) maturing within
397&nbsp;days of purchase; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) repurchase obligations with a term of not more than seven (7)&nbsp;days for underlying securities of the
types described in clauses (1)&nbsp;and (2)&nbsp;above entered into with any Approved Bank; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) commercial paper or finance company paper
issued by any Person incorporated under the laws of the United States or any state thereof and rated at least A-1 by S&amp;P or P-1 by Moody&#146;s (or such similar equivalent rating by another Rating Agency), in each case maturing within
397&nbsp;days of purchase; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Investments not exceeding 397&nbsp;days in duration in money market funds that invest
substantially all of such funds&#146; assets in the Investments described in the preceding clauses (1)&nbsp;through (4); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) in the
case of the Company&#146;s non-U.S. Restricted Subsidiaries, short-term investments made in the ordinary course of business or with a commercial bank organized under the laws of any foreign jurisdiction which is a member of the Organisation Economic
<FONT STYLE="white-space:nowrap">Co-operation</FONT> and Development, or a political subdivision of any such foreign jurisdiction, and having a combined capital and surplus of at least the equivalent of $100,000,000; <U>provided</U> that such bank
is acting through a branch or agency located in the country in which it is organized or another country which is also a member of the Organisation Economic Co-operation and Development. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Total Assets</U>&#148; means the total consolidated assets of the Company and its Restricted Subsidiaries as determined by the most
recent consolidated balance sheet of the Company and its Restricted Subsidiaries (which, in the case of determination of any amount by reference to Total Assets shall also give <U>pro</U> <U>forma</U> effect to any acquisition or disposition
occurring on or prior to the date of determination). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transfer Agent</U>&#148; means the Person specified in Section&nbsp;2.03 as
the Transfer Agent, and any and all successors thereto, to receive on behalf of the Registrar any Notes for transfer or exchange pursuant to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Treasury Rate</U>&#148; means, as of any Redemption Date, the yield to maturity as of such Redemption Date of United States Treasury
securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519)&nbsp;that has become publicly available at least two Business Days prior to the Redemption Date (or, if such statistical
release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the Redemption Date to June&nbsp;15, 2016; <U>provided</U>, <U>however</U>, that if the period from the Redemption Date to
June&nbsp;15, 2016 is not equal to the constant maturity of the United States Treasury security for which a weekly average yield is given, the Treasury Rate shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year)
from the weekly average yields of United States Treasury securities for which such yields are given, except that if the period from such date of redemption to June&nbsp;15, 2016 is less than one year, the weekly average yield on actually traded
United States Treasury securities adjusted to a constant maturity of one year shall be used. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trust Indenture Act</U>&#148; means
the Trust Indenture Act of 1939 (15&nbsp;U.S.C.&nbsp;&#167;&#167;&nbsp;77aaa-77bbbb) as in effect on the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trust
Monies</U>&#148; means all cash and Temporary Cash Investments: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) received by the Issuers upon the release of Collateral from the Lien
under this Indenture or the Security Documents in connection with any Asset Sale; <U>provided</U> that any such cash or Temporary Cash Investments remaining after consummation of an Offer to Purchase pursuant to Section&nbsp;4.07 shall cease to be
Trust Monies; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) received by the Collateral Agent as proceeds of any sale or other disposition of all or any part of the Collateral
by or on behalf of the Collateral Agent or any collection, recovery, receipt, appropriation or other realization of or from all or any part of the Collateral pursuant to this Indenture or any of the Security Documents; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U>, <U>however</U>, that Trust Monies shall in no event include (i)&nbsp;any property deposited with
the Trustee for any redemption, legal defeasance or covenant defeasance of the Notes, for the satisfaction and discharge of this Indenture or to pay the purchase price of the Notes and any Permitted Additional Pari Passu Obligations pursuant to an
Offer to Purchase in accordance with the terms of this Indenture, (ii)&nbsp;any cash received or applied by the Trustee in payment of its fees and expenses or, (iii)&nbsp;prior to the Discharge of ABL Obligations, any amounts attributable to ABL
Priority Collateral. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trustee</U>&#148; means Wells Fargo Bank, National Association, as trustee, until a successor replaces it
in accordance with Section&nbsp;7.08 and thereafter means the successor serving hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>UCC</U>&#148; means the Uniform
Commercial Code as in effect from time to time in the State of New York; <U>provided</U>, <U>however</U>, that, at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Collateral Agent&#146;s
security interest in any item or portion of the Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other that the State of New York, the term &#147;UCC&#148; shall mean the Uniform Commercial Code as in effect, at
such time, in such other jurisdiction for purposes of the provisions hereof relating to such perfection or priority and for purposes of definitions relating to such provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Definitive Note</U>&#148; means one or more Definitive Notes that do not bear and are not required to bear the Private
Placement Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Global Note</U>&#148; means a permanent Global Note, substantially in the form of
<U>Exhibit&nbsp;A-1</U> attached hereto, that bears the Global Note Legend and the OID Legend (if applicable) and that has the &#147;Schedule&nbsp;of Exchanges of Interests in the Global Note&#148; attached thereto, and that is deposited with or on
behalf of and registered in the name of the Depositary, representing Notes that do not bear the Private Placement Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Subsidiary</U>&#148; means (a)&nbsp;Wise Recycling, LLC; (b)&nbsp;any Subsidiary of the Company that at the time of
determination shall be designated an Unrestricted Subsidiary by the Board of Directors of the Company in the manner provided below; and (c)&nbsp;any Subsidiary of an Unrestricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Board of Directors of the Company may designate any Restricted Subsidiary (including any newly acquired or newly formed Subsidiary of the
Company) to be an Unrestricted Subsidiary unless such Subsidiary owns any Equity Interests of, or owns or holds any Lien on any property of, the Company or any Restricted Subsidiary; <U>provided</U> that (A)&nbsp;any Guarantee by the Company or any
Restricted Subsidiary of any Indebtedness of the Subsidiary </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
being so designated shall be deemed an &#147;incurrence&#148; of such Indebtedness and an &#147;Investment&#148; by the Company or such Restricted Subsidiary (or both, if applicable) at the time
of such designation; (B)&nbsp;either (I)&nbsp;the Subsidiary to be so designated has total assets of $1,000 or less or (II)&nbsp;if such Subsidiary has assets greater than $1,000, such designation would be permitted under Section&nbsp;4.04 and
(C)&nbsp;if applicable, the incurrence of Indebtedness and the Investment referred to in clause&nbsp;(A)&nbsp;of this proviso would be permitted under Section&nbsp;4.03 and Section&nbsp;4.04. The Board of Directors of the Company may designate any
Unrestricted Subsidiary to be a Restricted Subsidiary; <U>provided</U> that (a)&nbsp;immediately after giving <U>pro</U> <U>forma</U> effect to such designation, (i)&nbsp;the Company would be able to incur at least $1.00 of Indebtedness under the
Fixed Charge Coverage Ratio described under Section&nbsp;4.03(a) and (ii)&nbsp;the Fixed Charge Coverage Ratio would be equal to or greater than immediately prior to such designation; (b)&nbsp;no Default or Event of Default shall have occurred and
be continuing at the time of or after giving effect to such designation and (c)&nbsp;all Liens and Indebtedness of such Unrestricted Subsidiary outstanding immediately after such designation would, if incurred at such time, have been permitted to be
incurred (and shall be deemed to have been incurred) for all purposes of this Indenture. Any such designation by the Board of Directors of the Company shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the resolution of
the Board of Directors of the Company giving effect to such designation and an Officers&#146; Certificate certifying that such designation complied with the foregoing provisions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Government Obligations</U>&#148; means securities that are (1)&nbsp;direct obligations of the United States of America for the
payment of which its full faith and credit is pledged or (2)&nbsp;obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a
full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the Stated Maturity of the Notes, and shall also include a depository
receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder
of a depository receipt; <U>provided</U> that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of
the U.S. Government Obligation or the specific payment of interest on or principal of the U.S. Government Obligation evidenced by such depository receipt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Person</U>&#148; means a U.S. person as defined in Rule&nbsp;902(k) under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wholly Owned</U>&#148; means, with respect to any Subsidiary of any Person, the ownership of all of the outstanding capital stock of
such Subsidiary (other than any director&#146;s qualifying shares or Investments by foreign nationals mandated by applicable law) by such Person or one or more Wholly Owned Subsidiaries of such Person. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.02 <U>Other Definitions</U>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="92%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="6%"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:17.30pt; font-size:8pt; font-family:Times New Roman">Term</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Defined&nbsp;in</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:33.95pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Section</P></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Authentication Order&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.02</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Change of Control Purchase Price&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">4.09</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;DTC&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Event of Default&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Excess Proceeds&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">4.07</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Guaranteed Indebtedness&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">4.08</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Note Register&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Pari Passu Indebtedness&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">4.07</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Paying Agent&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Registrar&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Reinstatement Date&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">4.20</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Surviving Entity&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">5.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Surviving Guarantor Entity&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">5.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspended Covenants&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">4.20</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Suspension Period&#148;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">4.20</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.03 <U>Rules of Construction</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Unless the context otherwise requires: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) a term has the meaning assigned to it; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) &#147;or&#148; is not exclusive; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) words in the singular include the plural, and in the plural include the singular; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) &#147;will&#148; shall be interpreted to express a command; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) provisions apply to successive events and transactions; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) references to sections of, or rules under, the Securities Act shall be deemed to include substitute, replacement or successor sections or
rules adopted by the SEC from time to time; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) unless the context otherwise requires, any reference to an &#147;Article,&#148;
&#147;Section&#148; or &#147;clause&#148; refers to an Article, Section&nbsp;or clause, as the case may be, of this Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) the
words &#147;herein,&#148; &#147;hereof&#148; and &#147;hereunder&#148; and other words of similar import refer to this Indenture as a whole and not any particular Article, Section, clause&nbsp;or other subdivision; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) &#147;including&#148; means &#147;including without limitation.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.04 <U>Acts of Holders</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Issuers. Proof of execution of any such instrument or of a writing appointing any such agent, or the
holding by any Person of a Note, shall be sufficient for any purpose of this Indenture and (subject to Section&nbsp;7.01) conclusive in favor of the Trustee and the Issuers, if made in the manner provided in this Section&nbsp;1.04. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such
execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
The ownership of Notes shall be proved by the Note Register. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Any request, demand, authorization, direction, notice, consent, waiver
or other action by the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken,
suffered or omitted by the Trustee or the Issuers in reliance thereon, whether or not notation of such action is made upon such Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)
The Issuers may set a record date for purposes of determining the identity of Holders entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or
consent authorized or permitted to be given or taken by Holders. Unless otherwise specified, if not set by the Issuers prior to the first solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote,
prior to such vote, any such record date shall be the later of 30&nbsp;days prior to the first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Without limiting the generality of the foregoing, a Holder entitled to take any action hereunder with regard to any particular Note may do
so with regard to all or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or any part of such principal amount. Any notice given or action
taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph&nbsp;shall have the same effect as if given or taken by separate Holders of each such different part. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Without limiting the generality of the foregoing, a Holder, including DTC, that is the Holder
of a Global Note may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and
DTC, as the Holder of a Global Note, may provide its proxy or proxies to the beneficial owners of interests in any such Global Note through such depositary&#146;s standing instructions and customary practices. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) The Issuers may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any Global Note
held by DTC entitled under the procedures of such depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to
be made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such request, demand, authorization,
direction, notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action shall be valid or effective if made,
given or taken more than 90&nbsp;days after such record date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE NOTES </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.01
<U>Form&nbsp;and Dating; Terms</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>General</U>. The Notes and the Trustee&#146;s certificate of authentication shall be
substantially in the form of <U>Exhibit&nbsp;A</U> hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rules or usage. Each Note shall be dated the date of its authentication. The Notes shall be in minimum
denominations of $2,000 principal amount and integral multiples of $1,000 in excess thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Global Notes</U>. Notes issued in
global form shall be substantially in the form of <U>Exhibit&nbsp;A</U> hereto (including the Global Note Legend thereon and the &#147;Schedule&nbsp;of Exchanges of Interests in the Global Note&#148; attached thereto). Notes issued in definitive
form shall be substantially in the form of <U>Exhibit&nbsp;A</U> attached hereto (but without the Global Note Legend thereon and without the &#147;Schedule&nbsp;of Exchanges of Interests in the Global Note&#148; attached thereto). Each Global Note
shall represent such of the outstanding Notes as shall be specified in the &#147;Schedule&nbsp;of Exchanges of Interests in the Global Note&#148; attached thereto and each shall provide that it shall represent up to the aggregate principal amount of
Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as applicable, to reflect exchanges and redemptions. Any endorsement of a Global
Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction of the Trustee, in accordance with instructions given
by the Holder thereof as required by Section&nbsp;2.06. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Following the termination of the Restricted Period, beneficial interests in the Regulation&nbsp;S
Temporary Global Note will be exchanged for beneficial interests in the Regulation&nbsp;S Permanent Global Note pursuant to the Applicable Procedures. Simultaneously with the authentication of the Regulation&nbsp;S Permanent Global Note, the Trustee
will cancel the Regulation&nbsp;S Temporary Global Note. The aggregate principal amount of the Regulation&nbsp;S Temporary Global Note and the Regulation&nbsp;S Permanent Global Note may from time to time be increased or decreased by adjustments
made on the records of the Trustee and the Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Terms</U>. The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Issuers, the
Guarantors and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this
Indenture, the provisions of this Indenture shall govern and be controlling. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Notes shall be subject to repurchase by the Issuers
pursuant to an Offer to Purchase as provided in Section&nbsp;4.07 or Section&nbsp;4.09. The Notes shall not be redeemable, other than as provided in Article&nbsp;3 and Section&nbsp;4.09. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Additional Notes ranking <U>pari passu</U> with the Initial Notes may be created and issued from time to time by the Issuers without notice to
or consent of the Holders and shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as to status, redemption or otherwise (other than with respect to the purchase price thereof and the date from
which the interest accrues) as the Initial Notes; <U>provided</U> that the Issuers&#146; ability to issue Additional Notes shall be subject to the Issuers&#146; compliance with Section&nbsp;4.03 and Section&nbsp;4.06. The Notes and any Additional
Notes shall be substantially identical other than the issuance dates, offering price, transfer restrictions and, if applicable, the date from which interest shall accrue. The Additional Notes shall be secured, equally and ratably with the Notes and
any Permitted Additional Pari Passu Obligations, by the Note Liens on the Collateral. Except as described under Article&nbsp;9, the Initial Notes and any Additional Notes subsequently issued under this Indenture will be treated as a single class for
all purposes under this Indenture, including waivers, amendments, redemptions and offers to purchase. Unless the context requires otherwise, references to &#147;Notes&#148; for all purposes of this Indenture include any Additional Notes that are
actually issued. Any Additional Notes shall be issued with the benefit of an indenture supplemental to this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Euroclear
and Clearstream Procedures Applicable</U>. The provisions of the &#147;Operating Procedures of the Euroclear System&#148; and &#147;Terms and Conditions Governing Use of Euroclear&#148; and the &#147;General Terms and Conditions of Clearstream
Banking&#148; and &#147;Customer Handbook&#148; of Clearstream shall be applicable to transfers of beneficial interests in the Regulation&nbsp;S Temporary Global Note and the Regulation&nbsp;S Permanent Global Note that are held by Participants
through Euroclear or Clearstream. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.02 <U>Execution and Authentication</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At least one Officer shall execute the Notes on behalf of the Issuers by manual or facsimile signature. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note shall nevertheless be
valid. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Note shall not be entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated
substantially in the form provided for in <U>Exhibit&nbsp;A</U> attached hereto, by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been duly authenticated and delivered under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Closing Date, the Trustee shall, upon receipt of the Issuers&#146; order (an &#147;<U>Authentication Order</U>&#148;), authenticate and
deliver the Initial Notes. In addition, at any time, from time to time, the Trustee shall, upon receipt of an Authentication Order, authenticate and deliver any Additional Notes. Such Authentication Order shall specify the amount of the Notes to be
authenticated and, in the case of any issuance of Additional Notes pursuant to Section&nbsp;2.01, shall certify that such issuance is in compliance with Section&nbsp;4.03 and Section&nbsp;4.06. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may appoint an authenticating agent acceptable to the Issuers to authenticate Notes. An authenticating agent may authenticate
Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal with Holders or an Affiliate of the
Issuers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.03 <U>Registrar and Paying Agent</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(&#147;<U>Registrar</U>&#148;) and an office or agency where Notes may be presented for payment (&#147;<U>Paying Agent</U>&#148;), including an office or agency for such purposes in Minneapolis, Minnesota, which shall initially be the corporate
trust office of the Trustee located in Minneapolis, Minnesota. The Registrar shall keep a register of the Notes (&#147;<U>Note Register</U>&#148;) and of their transfer and exchange. The Issuers may appoint one or more co-registrars and one or more
additional paying agents. The term &#147;Registrar&#148; includes any co-registrar and the term &#147;Paying Agent&#148; includes any additional paying agent. The Issuers may change any Paying Agent or Registrar without prior notice to any Holder.
The Issuers shall notify the Trustee in writing of the name and address of any Agent not a party to this Indenture. If the Issuers fail to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. Either Issuer
or any of their Subsidiaries may act as Paying Agent or Registrar. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers initially appoint The Depository Trust Company
(&#147;<U>DTC</U>&#148;) to act as Depositary with respect to the Global Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers initially appoint the Trustee to act as the
Paying Agent, Registrar and Transfer Agent for the Notes and the Registrar to act as Custodian with respect to the Global Notes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.04 <U>Paying Agent to Hold Money in Trust</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall require each Paying Agent, other than the Trustee, to agree in writing that the Paying Agent shall hold in trust for the
benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and will notify the Trustee of any default by the Issuers in making any such payment. While any such
default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuers at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the Paying Agent
(if other than an Issuer or a Subsidiary) shall have no further liability for the money so paid. If an Issuer or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all money held by
it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Issuers, the Trustee shall serve as Paying Agent for the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.05 <U>Holder Lists</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses
of all Holders. If the Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least two Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of
such date as the Trustee may reasonably require of the names and addresses of the Holders of Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.06 <U>Transfer and
Exchange</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Transfer and Exchange of Global Notes</U>. Except as otherwise set forth in this Section&nbsp;2.06, a Global Note
may be transferred, in whole and not in part, only to another nominee of the Depositary or to a successor Depositary or a nominee of such successor Depositary. A beneficial interest in a Global Note may not be exchanged for a Definitive Note unless
(i)&nbsp;the Depositary notifies the Issuers that it is unwilling or unable to continue as Depositary for such Global Note and the Issuers fail to appoint a successor Depositary within 90&nbsp;days or (ii)&nbsp;there shall have occurred and be
continuing an Event of Default with respect to the Notes. Upon the occurrence of any of the preceding events in (i)&nbsp;or (ii)&nbsp;above, Definitive Notes delivered in exchange for any Global Note or beneficial interests therein will be
registered in the names, and issued in any approved denominations, requested by or on behalf of the Depositary (in accordance with its customary procedures). Global Notes also may be exchanged or replaced, in whole or in part, as provided in
Sections 2.07 and 2.10. Every Note authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section&nbsp;2.06, Section&nbsp;2.07 or Section&nbsp;2.10, shall be authenticated and delivered in
the form of, and shall be, a Global Note, except for Definitive Notes issued subsequent to any of the preceding events in (i)&nbsp;or (ii)&nbsp;above and pursuant to Section&nbsp;2.06(c) or (e). A Global Note may not be exchanged for another Note
other than as provided in this Section&nbsp;2.06(a); <U>provided</U>, <U>however</U>, beneficial interests in a Global Note may be transferred and exchanged as provided in Sections 2.06(b)&nbsp;and (c). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Transfer and Exchange of Beneficial Interests in the Global Notes</U>. The transfer and exchange of beneficial interests in the Global
Notes shall be effected through the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer
comparable to those set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also shall require compliance with either subparagraph&nbsp;(i)&nbsp;or (ii)&nbsp;below, as applicable, as well
as one or more of the other following subparagraphs, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer of Beneficial Interests in the Same
Global Note</U>. Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set
forth in the Private Placement Legend; <U>provided</U>, <U>however</U>, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation&nbsp;S Temporary Global Note may not be made to a U.S. Person or for
the account or benefit of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global
Note. No written orders or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section&nbsp;2.06(b)(i). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>All Other Transfers and Exchanges of Beneficial Interests in Global Notes</U>. In connection with all transfers and
exchanges of beneficial interests that are not subject to Section&nbsp;2.06(b)(i), the transferor of such beneficial interest must deliver to the Registrar either (A)&nbsp;(1)&nbsp;a written order from a Participant or an Indirect Participant given
to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the beneficial interest to be transferred or exchanged and
(2)&nbsp;instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B)&nbsp;(1)&nbsp;a written order from a Participant or an Indirect Participant
given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred or exchanged and (2)&nbsp;instructions given by the
Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1)&nbsp;above; <U>provided</U> that in no event shall Definitive Notes
be issued upon the transfer or exchange of beneficial interests in the Regulation&nbsp;S Temporary Global Note prior to (A)&nbsp;the expiration of the Restricted Period and (B)&nbsp;the receipt by the Registrar of any certificates required pursuant
to Rule&nbsp;903; <U>provided</U>, <U>further</U>, that in no event shall a beneficial interest in an Unrestricted Global Note be credited, or an Unrestricted Definitive Note be issued, to a Person who is an affiliate (as defined in Rule&nbsp;144)
of the Issuers. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable under the Securities Act, the Trustee shall adjust the
principal amount of the relevant Global Note(s) pursuant to Section&nbsp;2.06(h). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Transfer of Beneficial
Interests to Another Restricted Global Note</U>. A beneficial interest in any Restricted Global Note may be transferred to a Person who </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section&nbsp;2.06(b)(ii)&nbsp;and the Registrar
receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transferee will take delivery in the form of a beneficial interest in the 144A Global
Note, then the transferor must deliver a certificate in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation&nbsp;S Temporary Global Note
or the Regulation&nbsp;S Permanent Global Note, then the transferor must deliver a certificate in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(2)&nbsp;thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted
Global Note</U>. A beneficial interest in any Restricted Global Note may be exchanged by any Holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note if: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the exchange or transfer complies with the requirements of
Section&nbsp;2.06(b)(ii); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
beneficial interest in an Unrestricted Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(a)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(4)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">If any such transfer is effected pursuant to this Section&nbsp;2.06(b)(iv)&nbsp;at a time when an Unrestricted Global
Note has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in accordance with Section&nbsp;2.02, the Trustee shall </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the aggregate principal amount of beneficial interests transferred pursuant to this
Section&nbsp;2.06(b)(iv). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Beneficial interests in an Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take
delivery thereof in the form of, a beneficial interest in a Restricted Global Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Transfer or Exchange of Beneficial Interests
for Definitive Notes</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes</U>. If
any holder of a beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted
Definitive Note, then, upon the occurrence of any of the events in clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;2.06(a)&nbsp;and receipt by the Registrar of the following documentation: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
Restricted Definitive Note, a certificate from such holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(2)(a)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such beneficial interest is being transferred to a QIB in accordance with Rule&nbsp;144A, a certificate substantially
in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such
beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule&nbsp;903 or Rule&nbsp;904, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in
item&nbsp;(2)&nbsp;thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such beneficial interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule&nbsp;144, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(a)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such beneficial interest is being transferred to the Issuers or any of their Restricted Subsidiaries, a certificate
substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(b)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act,
a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(c)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(G) if such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption from
the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
registration requirements of the Securities Act other than those listed in subparagraphs (B)&nbsp;through (D)&nbsp;above, a certificate to the effect set forth in <U>Exhibit&nbsp;B</U> hereto,
including the certifications, certificates and Opinion of Counsel required by item&nbsp;(3)(d)&nbsp;thereof, if applicable; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">the Trustee
shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section&nbsp;2.06(h), and the Issuers shall execute and the Trustee shall authenticate and mail to the Person designated in the
instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section&nbsp;2.06(c)&nbsp;shall be registered in such name or names and
in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive
Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section&nbsp;2.06(c)(i)&nbsp;shall bear the Private Placement Legend, the
OID Legend and the Regulation&nbsp;S Temporary Global Note Legend, as applicable, and shall be subject to all restrictions on transfer contained therein. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Beneficial Interests in Regulation&nbsp;S Temporary Global Note to Definitive Notes</U>. Notwithstanding Sections
2.06(c)(i)(A)&nbsp;and (C), a beneficial interest in the Regulation&nbsp;S Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the form of a Definitive Note prior to (A)&nbsp;the
expiration of the Restricted Period and (B)&nbsp;the receipt by the Registrar of any certificates required pursuant to Rule&nbsp;903(b)(3)(ii)(B)&nbsp;under the Securities Act, except in the case of a transfer pursuant to an exemption from the
registration requirements of the Securities Act other than Rule&nbsp;903 or Rule&nbsp;904. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Beneficial Interests
in Restricted Global Notes to Unrestricted Definitive Notes</U>. A holder of a beneficial interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a
Person who takes delivery thereof in the form of an Unrestricted Definitive Note: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) only upon the occurrence of any of
the events in clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;2.06(a); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Registrar receives the following:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest
for an Unrestricted Definitive Note, a certificate from such holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(b)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">
to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the
certifications in item&nbsp;(4)&nbsp;thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of
Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer
required in order to maintain compliance with the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>Beneficial Interests in Unrestricted Global
Notes to Unrestricted Definitive Notes</U>. If any holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes
delivery thereof in the form of a Definitive Note, then, upon the occurrence of any of the events in clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;2.06(a)&nbsp;and satisfaction of the conditions set forth in Section&nbsp;2.06(b)(ii), the Trustee
shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to Section&nbsp;2.06(h), and the Issuers shall execute and the Trustee shall authenticate and mail to the Person designated in the
instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section&nbsp;2.06(c)(iv)&nbsp;shall be registered in such name or names and in such authorized
denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through instructions from or through the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive Notes to the
Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial interest pursuant to this Section&nbsp;2.06(c)(iv)&nbsp;shall not bear the Private Placement Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Transfer and Exchange of Definitive Notes for Beneficial Interests</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Restricted Definitive Notes to Beneficial Interests in Restricted Global Notes</U>. If any Holder of a Restricted
Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in a Restricted Global
Note, then, upon receipt by the Registrar of the following documentation: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Restricted Definitive
Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(2)(b)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule&nbsp;144A, a certificate
substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person
in an offshore transaction in accordance with Rule&nbsp;903 or Rule&nbsp;904, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(2)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule&nbsp;144, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(a)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such Restricted Definitive Note is being transferred to the Issuers or any of their Restricted Subsidiaries, a
certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(b)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such Restricted Definitive Note is being transferred pursuant to an effective registration statement under the
Securities Act, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(c)&nbsp;thereof, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">the Trustee shall cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of, in the case of
clause&nbsp;(A)&nbsp;above, the applicable Restricted Global Note, in the case of clause&nbsp;(B)&nbsp;above, the applicable 144A Global Note and, in the case of clause&nbsp;(C)&nbsp;above, the applicable Regulation&nbsp;S Global Note. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes</U>. A Holder of a Restricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
only if the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Definitive Notes proposes to exchange such Notes
for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(c)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the
form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(4)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with
the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon satisfaction of the conditions of any of the subparagraphs in this
Section&nbsp;2.06(d)(ii), the Trustee shall cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes</U>. A Holder of an Unrestricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.
Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any such exchange or transfer from a Definitive Note to a beneficial interest is effected pursuant to subparagraph&nbsp;(ii)&nbsp;or
(iii)&nbsp;above at a time when an Unrestricted Global Note has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in accordance with Section&nbsp;2.02, the Trustee shall authenticate one or more Unrestricted
Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Transfer and
Exchange of Definitive Notes for Definitive Notes</U>. Upon request by a Holder of Definitive Notes and such Holder&#146;s compliance with the provisions of this Section&nbsp;2.06(e), the Registrar shall register the transfer or exchange of
Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to
the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder shall provide any additional certifications, documents and information, as applicable, required pursuant to the following
provisions of this Section&nbsp;2.06(e): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) <U>Restricted Definitive Notes to Restricted Definitive Notes</U>. Any
Restricted Definitive Note may be transferred to and registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transfer will be made to a QIB in accordance with Rule&nbsp;144A, then the transferor must deliver a certificate
substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transfer will be made pursuant to Rule&nbsp;903 or Rule&nbsp;904, then the transferor must deliver a certificate in
the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(2)&nbsp;thereof; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if the
transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications required by
item&nbsp;(3)&nbsp;thereof, if applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Restricted Definitive Notes to Unrestricted Definitive Notes</U>. Any
Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if the Registrar receives the
following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted
Definitive Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(d)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Restricted Definitive Notes proposes to transfer such Notes to a Person who shall take delivery
thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(4)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange or
transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Notes to Unrestricted Definitive Notes</U>. A Holder of Unrestricted Definitive Notes may
transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the
instructions from the Holder thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) [Reserved] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Legends</U>. The following legends shall appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless
specifically stated otherwise in the applicable provisions of this Indenture: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Private Placement Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) Except as permitted by subparagraph&nbsp;(B)&nbsp;below, each Global Note and each Definitive Note (and all Notes issued
in exchange therefor or substitution therefor) shall bear the legend in substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;THE NOTE
(OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;), AND THE NOTE EVIDENCED HEREBY MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE NOTE EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE PROVISIONS OF SECTION 5 OF THE SECURITIES
ACT PROVIDED BY RULE&nbsp;144A THEREUNDER. THE HOLDER OF THE NOTE EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUERS THAT: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;SUCH NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i)(a)&nbsp;TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE&nbsp;144A UNDER THE
SECURITIES ACT (&#147;<U>RULE&nbsp;144A</U>&#148;)) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A
NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;903 OR 904 UNDER THE SECURITIES ACT, (d)&nbsp;TO AN INSTITUTIONAL &#147;ACCREDITED INVESTOR&#148; (AS DEFINED IN RULE&nbsp;501(a)(1), (2), (3)&nbsp;OR (7)&nbsp;OF THE SECURITIES
ACT (AN &#147;<U>INSTITUTIONAL ACCREDITED INVESTOR</U>&#148;)) THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH
TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $100,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUERS THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, OR (e)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL AND OTHER CERTIFICATIONS AND DOCUMENTS IF THE ISSUERS SO REQUEST), </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;TO AN ISSUER, OR </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION AND IN EACH CASE SUBJECT TO ANY REQUIREMENT OF LAW THAT THE DISPOSITION OF THIS NOTE BY THE HOLDER OR BY ANY INVESTOR ACCOUNT OR ACCOUNTS BE AT ALL TIMES WITHIN ITS OR THEIR CONTROL; AND </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY
PURCHASER FROM IT OF THE NOTE EVIDENCED HEREBY OF THE RESALE RESTRICTIONS SET FORTH IN (A)&nbsp;ABOVE.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)
Notwithstanding the foregoing, any Global Note or Definitive Note issued pursuant to subparagraph&nbsp;(b)(iv), (c)(iii), (c)(iv), (d)(ii), (d)(iii), (e)(ii)&nbsp;or (e)(iii)&nbsp;of this Section&nbsp;2.06 (and all Notes issued in exchange therefor
or substitution thereof) shall not bear the Private Placement Legend. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) <U>Global Note Legend</U>. Each Global Note
shall bear a legend in substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE
GOVERNING THIS NOTE) OR ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I)&nbsp;THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT
TO SECTION 2.06(h) OF THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a)&nbsp;OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO
SECTION&nbsp;2.11 OF THE INDENTURE AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY
NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A
NOMINEE OF SUCH SUCCESSOR DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (&#147;<U>DTC</U>&#148;) TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION
OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE&nbsp;&amp;&nbsp;CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE&nbsp;&amp;&nbsp;CO. OR
SUCH OTHER ENTITY AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE&nbsp;&amp; CO., HAS AN
INTEREST HEREIN.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) <U>IAI Note Legend</U>. Each Definitive Note held by an Institutional
Accredited Investor shall bear a legend in substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL
DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) <U>OID Legend</U>. Each Note issued hereunder that has more than a <U>de minimis</U> amount of original issue discount for
U.S. federal income tax purposes shall bear a legend in substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE IS ISSUED WITH ORIGINAL ISSUE
DISCOUNT FOR PURPOSES OF SECTION 1271 ET SEQ. OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. A HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, CLOSING DATE AND YIELD TO MATURITY FOR SUCH NOTES BY SUBMITTING A WRITTEN REQUEST
FOR SUCH INFORMATION TO THE ISSUERS AT THE FOLLOWING ADDRESS: WISE METALS GROUP LLC, 4805 SECOND STREET, MUSCLE SHOALS, ALABAMA 35661 ATTENTION: CHIEF LEGAL OFFICER.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) <U>Regulation&nbsp;S Temporary Global Note Legend</U>. Each Regulation&nbsp;S Temporary Global Note shall bear a legend in
substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS GLOBAL NOTE IS A TEMPORARY GLOBAL NOTE FOR PURPOSES OF REGULATION&nbsp;S UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED. NEITHER THIS TEMPORARY GLOBAL NOTE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE INDENTURE REFERRED TO BELOW. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">NO BENEFICIAL OWNERS OF THIS TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED
CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE INDENTURE.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Cancellation and/or Adjustment of Global
Notes</U>. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section&nbsp;2.11. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof
in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect
such reduction. If the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such other Global Note shall be increased accordingly and an
endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>General Provisions Relating to Transfers and Exchanges</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) To permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section&nbsp;2.02 or at the Registrar&#146;s request. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) No service charge shall be made to a holder of a beneficial interest in a Global Note or to a Holder of a Definitive Note
for any registration of transfer or exchange, but the Issuers may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other than any such transfer taxes or similar
governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 4.07, 4.09 and 9.05). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) Neither
the Registrar nor the Issuers shall be required to register the transfer of or exchange any Note selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) All Global Notes and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive
Notes shall be the valid obligations of the Issuers, evidencing the same debt, and entitled to the same benefits under this Indenture, as the Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) The Issuers shall not be required (A)&nbsp;to issue, to register the transfer of or to exchange any Notes during a period
beginning at the opening of business 15&nbsp;days before the day of mailing of notice of redemption of Notes for redemption under Section&nbsp;3.03 and ending at the close of business on the day of such mailing, (B)&nbsp;to register the transfer of
or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part, or (C)&nbsp;to register the transfer of or to exchange a Note between a Record Date and the next succeeding
Interest Payment Date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any
Agent and the Issuers may deem and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and interest on such Notes and for all other
purposes, and none of the Trustee, any Agent or the Issuers shall be affected by notice to the contrary. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) Upon surrender for registration of transfer of any Note at the office or
agency of the Issuers designated pursuant to Section&nbsp;2.03, the Issuers shall execute, and the Trustee shall authenticate and mail, in the name of the designated transferee or transferees, one or more replacement Notes of any authorized
denomination or denominations of a like aggregate principal amount. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) At the option of the Holder, Notes may be
exchanged for other Notes of any authorized denomination or denominations of a like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency. Whenever any Global Notes or Definitive Notes are so surrendered for
exchange, the Issuers shall execute, and the Trustee shall authenticate and mail, the replacement Global Notes and Definitive Notes which the Holder making the exchange is entitled to in accordance with the provisions of this Section&nbsp;2.06. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) All certifications, certificates and Opinions of Counsel required to be submitted to the Registrar pursuant to this
Section&nbsp;2.06 to effect a registration of transfer or exchange may be submitted by facsimile or electronic transmission. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including transfers between or among Depository participants or beneficial owners of interests in any Global Note) other than to
require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) Neither the Trustee nor any Agent shall have any responsibility or
liability for any actions taken or not taken by the Depositary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.07 <U>Replacement Notes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any mutilated Note is surrendered to the Trustee or the Issuers and the Trustee receives evidence to its satisfaction of the ownership and
destruction, loss or theft of any Note, the Issuers shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee&#146;s requirements are met. An indemnity bond must be supplied by the
Holder that is sufficient in the judgment of the Trustee and the Issuers to protect the Issuers, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Issuers and the Trustee may
charge for their expenses in replacing a Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Every replacement Note is a contractual obligation of the Issuers and shall be entitled to
all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.08 <U>Outstanding Notes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it for
cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section&nbsp;2.08 as not outstanding. Except as set forth in Section&nbsp;2.09, a Note does
not cease to be outstanding because the Issuers or an Affiliate of the Issuers holds the Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Note is replaced pursuant to
Section&nbsp;2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the principal amount of any Note is considered paid under Section&nbsp;4.01, it ceases to be outstanding and interest on it ceases to
accrue. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Paying Agent (other than the Issuers, a Subsidiary or an Affiliate of any thereof) holds, on a Redemption Date or maturity
date, money sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.09 <U>Treasury Notes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned
by the Issuers, or by any Affiliate of the Issuers, shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes
that a Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the
pledgee&#146;s right to deliver any such direction, waiver or consent with respect to the Notes and that the pledgee is not an Issuer or any other obligor upon the Notes or any Affiliate of the Issuers or of such other obligor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.10 <U>Temporary Notes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Until certificates representing Notes are ready for delivery, the Issuers may prepare and the Trustee, upon receipt of an Authentication
Order, shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes but may have variations that the Issuers consider appropriate for temporary Notes and as shall be reasonably acceptable to the
Trustee. Without unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Holders and beneficial holders, as the case may be, of temporary Notes shall be entitled to all of the benefits accorded to Holders, or
beneficial holders, respectively, of Notes under this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.11 <U>Cancellation</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Notes surrendered to them for registration of transfer, exchange or payment. The Trustee or, at the direction of the Trustee, the Registrar or the Paying Agent and no one else, shall cancel all Notes surrendered for registration of transfer,
exchange, payment, replacement or cancellation and shall dispose of such cancelled Notes in accordance with its customary procedures (subject to the record retention requirement of the Exchange Act). The Trustee shall deliver certification of the
disposition of all cancelled Notes to the Issuers upon the Issuers&#146; written request. The Issuers may not issue new Notes to replace Notes that they have paid or that have been delivered to the Trustee for cancellation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.12 <U>Defaulted Interest</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuers default in a payment of interest on the Notes, they shall pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest to the Persons who are Holders on a subsequent special record date, in each case at the rate provided in the Notes. The Issuers shall notify the Trustee in writing of the amount of defaulted
interest to be paid on each Note and the date of payment, and at the same time the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such defaulted interest or shall make arrangements
satisfactory to the Trustee for such deposit prior to the date of payment, such money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section&nbsp;2.12. The Trustee shall fix
or cause to be fixed each such special record date and payment date; <U>provided</U> that no such special record date shall be less than 10&nbsp;days prior to the related payment date for such defaulted interest. The Trustee shall promptly notify
the Issuers of such special record date. At least 15&nbsp;days before the special record date, the Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed,
first-class postage prepaid, to each Holder a notice at his or her address as it appears in the Note Register that states the special record date, the related payment date and the amount of such interest to be paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the foregoing provisions of this Section&nbsp;2.12 and for greater certainty, each Note delivered under this Indenture upon
registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.13 <U>CUSIP and ISIN Numbers</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers in issuing the Notes may use either or both CUSIP or ISIN numbers (if then generally in use) and, if so, the Trustee shall use
such CUSIP and ISIN numbers in notices of redemption as a convenience to Holders; <U>provided</U>, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in
any notice of redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Issuers will as promptly as
practicable notify the Trustee in writing of any change in the CUSIP or ISIN numbers. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 3 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REDEMPTION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.01
<U>Notices to Trustee</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuers elect to redeem Notes pursuant to Section&nbsp;3.07, they shall notify the Trustee in writing
of the Redemption Date and the principal amount of Notes to be redeemed and the clause&nbsp;of this Indenture pursuant to which redemption shall occur. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall give each notice provided for in this Section&nbsp;3.01 in an Officers&#146; Certificate at least 45&nbsp;days before the
Redemption Date (unless a shorter period shall be satisfactory to the Trustee). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.02 <U>Selection of Notes to Be Redeemed or
Purchased</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If less than all of the Notes are to be redeemed at any time, the Trustee shall select the Notes to be redeemed <U>pro
rata</U>, by lot or by such other method as the Trustee in its sole discretion shall deem fair and appropriate in accordance with the Applicable Procedures; <U>provided</U> that no Note of $2,000 in principal amount or less shall be redeemed in
part. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall make the selection from the Notes outstanding and not previously called for redemption. Notes in denominations of
$2,000 in principal amount may only be redeemed in whole. The Trustee may select for redemption portions (equal to $2,000 in principal amount or any integral multiple $1,000 in excess thereof) of Notes that have denominations larger than $2,000 in
principal amount. Provisions of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption. The Trustee shall notify the Issuers and the Registrar promptly in writing of the Notes or portions of
Notes to be called for redemption. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.03 <U>Notice of Redemption</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">With respect to any redemption of Notes pursuant to Section&nbsp;3.07, at least 30&nbsp;days but not more than 60&nbsp;days before a
Redemption Date, the Issuers shall mail a notice of redemption by first class mail to each Holder whose Notes are to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The
notice shall identify the Notes to be redeemed and shall state: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Redemption Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Redemption Price; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
the name and address of the Paying Agent; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) that Notes called for redemption must be surrendered to the Paying Agent in order to
collect the Redemption Price; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) that, unless the Issuers default in making the redemption payment, interest on Notes called
for redemption ceases to accrue on and after the Redemption Date and the only remaining right of the Holders is to receive payment of the Redemption Price plus accrued interest to the Redemption Date upon surrender of the Notes to the Paying Agent;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) that, if any Note is being redeemed in part, the portion of the principal amount (equal to $2,000 in principal amount or any integral
multiple of $1,000 in excess thereof) of such Note to be redeemed and that, on and after the Redemption Date, upon surrender of such Note, a new Note or Notes in principal amount equal to the unredeemed portion thereof will be reissued; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) that, if any Note contains a CUSIP or ISIN number as provided in Section&nbsp;2.13, no representation is being made as to the correctness
of the CUSIP or ISIN number either as printed on the Notes or as contained in the notice of redemption and that reliance may be placed only on the other identification numbers printed on the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At the Issuers&#146; request (which request may be revoked by the Issuers at any time prior to the time at which the Trustee shall have given
such notice to the Holders), made in writing to the Trustee at least 45&nbsp;days (or such shorter period as shall be satisfactory to the Trustee) before a Redemption Date, the Trustee shall give the notice of redemption in the name and at the
expense of the Issuers. If, however, the Issuers give such notice to the Holders, the Issuers shall concurrently deliver to the Trustee an Officers&#146; Certificate stating that such notice has been given. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any notice of redemption may, at the discretion of the Issuers, be subject to one or more conditions precedent, including any sale of Equity
Interests. If a redemption is subject to satisfaction of one or more conditions precedent, such notice of redemption shall describe each such condition and, if applicable, shall state that, in the Issuers&#146; discretion, the Redemption Date may be
delayed until such time as any or all such conditions shall be satisfied, or such redemption may not occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the Redemption Date, or by the
Redemption Date as so delayed. In the event that any condition precedent included in a redemption notice fails to be satisfied by the applicable Redemption Date, the Issuers may revoke such redemption notice or delay the applicable Redemption Date
by delivering notice to the Trustee and each Holder whose Notes were called for redemption of such revocation or delay and, in the case of a delay, of the new Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.04 <U>Effect of Notice of Redemption</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the last paragraph&nbsp;of Section&nbsp;3.03, once notice of redemption is mailed, Notes called for redemption become due and
payable on the Redemption Date and at the Redemption Price. Upon surrender of any Notes to the Paying Agent, such Notes shall be paid at the Redemption Price, plus accrued interest, if any, to the Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notice of redemption shall be deemed to be given when mailed, whether or not the Holder receives the notice. In any event, failure to give
such notice, or any defect therein, shall not affect the validity of the proceedings for the redemption of Notes held by Holders to whom such notice was properly given. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.05 <U>Deposit of Redemption or Purchase Price</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On or prior to 11:00&nbsp;a.m., New York City time, on any Redemption Date, the Issuers shall deposit with the Paying Agent (or, if an Issuer
or a Subsidiary is acting as Paying Agent, it shall segregate and hold in trust as provided in Section&nbsp;2.04) money sufficient to pay the Redemption Price of and accrued interest (up to but not including the Redemption Date) on all Notes to be
redeemed on that date other than Notes or portions thereof called for redemption on that date that have been delivered by the Company to the Trustee for cancellation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.06 <U>Notes Redeemed or Purchased in Part</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon surrender of any Note that is redeemed in part, the Issuers shall execute and the Trustee shall authenticate and deliver to the Holder
without service charge, a new Note equal in principal amount to the unredeemed portion of such surrendered Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.07
<U>Optional Redemption</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) At any time prior to June&nbsp;15, 2016, the Notes may be redeemed, in whole or in part, on one or more
occasions at the option of the Issuers, at a Redemption Price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued and unpaid interest to, but not including, the Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Issuers may redeem the Notes at any time, and from time to time, on or after June&nbsp;15, 2016 and prior to maturity, upon not less
than 30 nor more than 60&nbsp;days&#146; prior notice mailed by <FONT STYLE="white-space:nowrap">first-class</FONT> mail to each Holder&#146;s last address, as it appears in the Note Register, at the following Redemption Prices (expressed in
percentages of principal amount), plus accrued and unpaid interest to, but not including, the Redemption Date (subject to the right of Holders of record on the relevant Record Date that is prior to the Redemption Date to receive interest due on an
Interest Payment Date), if redeemed during the 12-month period (or in the case of the final period, the six-month period) beginning on the dates set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.00pt; font-size:8pt; font-family:Times New Roman"><B>Date</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption<BR>Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104.375</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.188</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2018 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) In addition, at any time prior to June&nbsp;15, 2016, the Issuers may redeem on one or more occasions up
to 35% of the aggregate principal amount of the Notes originally issued (calculated after giving effect to the issuance of any Additional Notes) with the Net Cash Proceeds of one or more sales of Equity Interests (other than Disqualified Stock) of
the Company at a redemption price of 108.750% of their principal amount, plus accrued interest to, but not including, the Redemption Date; <U>provided</U> that at least 65% of the aggregate principal amount of Notes originally issued (calculated
after giving effect to the issuance of any Additional Notes) remains outstanding after each such redemption and notice of any such redemption is mailed within 90&nbsp;days of each such sale of Equity Interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) In addition to the Issuers&#146; rights to redeem the Notes as set forth above, the Issuers may purchase Notes in open-market
transactions, tender offers or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.08 <U>Mandatory Redemption</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers will not be required to make any mandatory redemption or sinking fund payments with respect to the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the last paragraph&nbsp;of Section&nbsp;3.03, if notice of redemption has been given in the manner provided above, the Notes or
portion of Notes specified in such notice to be redeemed shall become due and payable on the Redemption Date at the Redemption Price stated therein, together with accrued interest to such Redemption Date, and on and after such date (unless the
Issuers shall default in the payment of such Notes at the Redemption Price and accrued interest to the Redemption Date, in which case the principal, until paid, shall bear interest from the Redemption Date at the rate prescribed in the Notes), such
Notes shall cease to accrue interest. Upon surrender of any Note for redemption in accordance with a notice of redemption, such Note shall be paid and redeemed by the Issuers at the Redemption Price, together with accrued interest, if any, to the
Redemption Date; <U>provided</U> that installments of interest whose Stated Maturity is on or prior to the Redemption Date shall be payable to the Holders registered as such at the close of business on the relevant Record Date. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 4 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COVENANTS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.01 <U>Payment of Principal, Premium and Interest</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay the principal of, premium, if any, and interest on the Notes on the dates and in the manner provided in the Notes and
this Indenture. An installment of principal, premium, if any, or interest shall be considered paid on the date due if the Trustee or Paying Agent (other than the Issuers or a Subsidiary of the Company) holds on that date money designated for and
sufficient to pay the installment. If the Company or any Subsidiary of the Company acts as Paying Agent, an installment of principal, premium, if any, or interest shall be considered paid on the due date if the entity acting as Paying Agent complies
with Section&nbsp;2.04. As provided in Section&nbsp;6.12, upon any bankruptcy or reorganization procedure relative to the Issuers, the Trustee shall serve as the Paying Agent, if any, for the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay interest on overdue principal and premium, if any, and interest on overdue installments of interest, to the extent
lawful, at the rate per annum specified in the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.02 <U>Corporate Existence</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Article&nbsp;5 of this Indenture, the Company shall do or cause to be done all things necessary to preserve and keep in full force
and effect its existence and the existence of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
each of its Restricted Subsidiaries in accordance with the respective organizational documents of the Company and each Restricted Subsidiary and the rights (whether pursuant to charter,
partnership certificate, agreement, statute or otherwise), licenses and franchises of the Company and each Restricted Subsidiary; <U>provided</U> that the Company shall not be required to preserve any such right, license or franchise, or the
existence of any Restricted Subsidiary, if the maintenance or preservation thereof is no longer desirable or necessary in the conduct of the business of the Company and its Restricted Subsidiaries taken as a whole. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.03 <U>Limitation on Indebtedness</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Company will not, and will not permit any Restricted Subsidiary to, create, incur, assume or Guarantee the payment of any Indebtedness
(including Acquired Indebtedness) other than Permitted Indebtedness and the Company will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any Disqualified Stock or preferred stock to any Person other
than to the Company or its Restricted Subsidiaries unless, after giving effect to the transaction, its Fixed Charge Coverage Ratio for the four full fiscal quarters immediately preceding the transaction for which financial statements are available
immediately preceding the date of such transaction, taken as a single period, is 2.0 to 1 or greater, determined on a <U>pro</U> <U>forma</U> basis (including a <U>pro</U> <U>forma</U> application of the net proceeds therefrom) as if the additional
Indebtedness had been incurred or the Disqualified Stock (or the preferred stock, if applicable) had been issued, as the case may be, at the beginning of such four-quarter period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining any particular amount of Indebtedness under this Section&nbsp;4.03, (x)&nbsp;obligations which constitute
Indebtedness of more than one entity only need to be counted once, and (y)&nbsp;Guarantees, Liens or obligations with respect to letters of credit supporting Indebtedness otherwise included in the determination of such particular amount shall not be
included. For purposes of determining compliance with this Section&nbsp;4.03, if an item of Indebtedness meets the criteria of more than one of the categories of Permitted Indebtedness or may be incurred under the Fixed Charge Coverage Ratio, the
Company may classify (and from time to time may reclassify, including pursuant to the Fixed Charge Coverage Ratio) the Indebtedness in its sole discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The accrual of interest or preferred stock dividends, the accretion or amortization of original issue discount, the payment of interest on any
Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred stock as Indebtedness due to a change in accounting principles and the payment of dividends on preferred stock or Disqualified Stock in the
form of additional shares of the same class of preferred stock or Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an issuance of preferred stock or Disqualified Stock for purposes of this covenant; <U>provided</U>, in
each such case, that the amount thereof is included in Fixed Charges of the Company as accrued. For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of Indebtedness, the U.S. dollar-equivalent
principal amount of Indebtedness denominated in a foreign currency shall be utilized, calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding any other provision of this Section&nbsp;4.03, (i)&nbsp;the maximum amount of
Indebtedness that may be incurred pursuant to this Section&nbsp;4.03 will not be deemed to be exceeded, with respect to any outstanding Indebtedness, due solely to the result of fluctuations in the exchange rates of currencies between the dates such
non-U.S. dollar Indebtedness was incurred and the measurement date for purposes of this provision and (ii)&nbsp;a change in GAAP that results in an obligation of the Company or any Restricted Subsidiary that exists at the time of such change, and is
not theretofore classified as Indebtedness, becoming Indebtedness shall not be deemed an incurrence of such Indebtedness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The amount
of any Indebtedness outstanding as of any date will be: (i)&nbsp;the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount; and (ii)&nbsp;the principal amount of the Indebtedness, in the case of any
other Indebtedness. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Issuers and the Guarantors will not incur any Indebtedness if such Indebtedness is subordinate in right of
payment to any other Indebtedness unless such Indebtedness is also subordinate in right of payment to the Notes or the applicable Subsidiary Guarantee to the same extent. For purposes of the foregoing, no Indebtedness will be deemed to be
subordinated in right of payment to any other Indebtedness solely by virtue of being unsecured, by virtue of being secured by different collateral or by virtue of the fact that the holders of any secured Indebtedness have entered into intercreditor
agreements giving one or more of such holders priority over the other holders in the collateral held by them or with respect to control of remedies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.04 <U>Limitation on Restricted Payments</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Company will not, and will not permit any Restricted Subsidiary, directly or indirectly, to make any Restricted Payment unless, at the
time and after giving effect to the proposed Restricted Payment, the following conditions are met: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) no Default or Event
of Default under this Indenture shall have occurred and be continuing (or would result therefrom); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) at the time and
after giving effect to any proposed Restricted Payment, the Company would be able to incur at least $1.00 of Indebtedness under the Fixed Charge Coverage Ratio described under Section&nbsp;4.03(a); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) such payment, along with the aggregate amount of all Restricted Payments declared or made on or after the Closing Date
(excluding any Restricted Payment that is an Excluded Payment permitted by clauses (ii), (iii), (iv), (vi), (vii), (viii), (x), (xi), (xii), (xiii), (xiv)&nbsp;and (xv)&nbsp;of the next succeeding paragraph), may not exceed the sum of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) 50% of the Company&#146;s total Consolidated Net Income accrued on a cumulative basis during the period beginning on the
first day of the fiscal quarter during which the Closing Date occurs and ending on the last day of the fiscal quarter ending prior to the date of the proposed Restricted Payment for which internal financial statements of the Company are available
(or, if such aggregate cumulative Consolidated Net Income is a loss, minus 100% of such loss); plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) 100% of (A)&nbsp;the aggregate Net Cash Proceeds and Fair Market Value of
marketable securities received by the Company on or after the Closing Date (i)&nbsp;as capital contributions or (ii)&nbsp;from the issuance and sale of (x)&nbsp;Equity Interests of the Company to any Person or entity other than a Subsidiary of the
Company, excluding the issuance or sale of Disqualified Stock or (y)&nbsp;any other securities of the Company, upon the conversion or exchange of such securities into Equity Interests of the Company (including upon conversion of Indebtedness or upon
conversion or exercise of options or warrants), other than Disqualified Stock, and (B)&nbsp;the Fair Market Value of any Replacement Assets to the extent acquired in consideration of the issuance of Equity Interests of the Company, other than
Disqualified Stock, or as a capital contribution to the Company; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) to the extent that any Restricted Investment
that was made after the Closing Date is sold for cash or repaid (whether through interest payments, principal payments, dividends or other distributions), the lesser of (i)&nbsp;the amount received in cash from such sale or repayment (less the cost
of disposition, if any) and (ii)&nbsp;the initial amount of such Restricted Investment; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) to the extent that any
Restricted Investment was made in an Unrestricted Subsidiary or other entity after the Closing Date and such Unrestricted Subsidiary or other entity is redesignated as or becomes a Restricted Subsidiary, the lesser of (i)&nbsp;the Fair Market Value
of the Investment in such Subsidiary on the date of such redesignation and (ii)&nbsp;the initial amount of such Restricted Investment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.04(a)&nbsp;shall not prohibit the following (the &#147;<U>Excluded Payments</U>&#148;): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the payment of any dividend or redemption of any contractually subordinated Indebtedness within 60&nbsp;days after such
dividend was declared or irrevocable and unconditional notice of such redemption was given, if at the date of such declaration or notice, the payment or redemption would have been permitted; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the making of any Investment or the redemption, repurchase, retirement, defeasance or other acquisition of any Equity
Interests of the Company (or Indebtedness that is subordinated to the Notes or any Subsidiary Guarantee) in exchange for, or out of or with the proceeds of the sale (other than to a Subsidiary of the Company) of, any Equity Interests of the Company
(other than any Disqualified Stock) or in exchange for, or out of or with the proceeds of a capital contribution to the Company; <U>provided</U> that, in each such case, the amount of any such proceeds that are so utilized shall be excluded from
Section&nbsp;4.04(a)(iii)(B); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the redemption, repurchase, defeasance or other acquisition or retirement
for value of Indebtedness of the Company or a Restricted Subsidiary that is subordinated to the Notes or any Subsidiary Guarantee, including premium, if any, and accrued interest, with the proceeds of, or in exchange for, Indebtedness incurred under
clause&nbsp;(5) of the definition of &#147;Permitted Indebtedness;&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) the payment of any dividend (or, in the case
of any partnership or limited liability company, any similar distribution) by a Restricted Subsidiary of the Company to the holders of its common Equity Interests to the extent such payments are made on a <U>pro rata</U> basis; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) the repurchase, redemption or other acquisition or retirement for value of any Equity Interests of the Company held by any
current or former director, officer, employee, consultant or agent of the Company (or any of its Subsidiaries) pursuant to any management equity subscription agreement, stock option agreement or other employee benefit plan or arrangement;
<U>provided</U> that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests shall not exceed $5.0&nbsp;million in any calendar year (with unused amounts in any calendar year being carried over to the next
calendar year); <U>provided</U> <U>further</U> that such amount in any calendar year may be increased by an amount not to exceed: (1)&nbsp;the cash proceeds from the sale of Equity Interests (other than Disqualified Stock) of the Company to
directors, officers, employees, consultants or agents of the Company or any of its Subsidiaries that occurs after the Closing Date, to the extent the cash proceeds from the sale of such Equity Interests have not otherwise been applied to the payment
of Restricted Payments by virtue of Section&nbsp;4.04(a)(iii); plus (2)&nbsp;the cash proceeds of key man life insurance policies received by the Company and the Restricted Subsidiaries after the Closing Date; and less (3)&nbsp;the amount of any
Restricted Payments previously made pursuant to clauses (1)&nbsp;and (2)&nbsp;of this clause&nbsp;(v); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) the purchase
of Equity Interests of the Company deemed to occur upon the exercise of stock options or warrants if such Equity Interests represent all or a portion of the exercise price of (or taxes in respect of the exercise of) such options or warrants and
payments made or expected to be made by the Company or any Restricted Subsidiary in respect of withholding or similar taxes payable or expected to be payable upon the exercise of stock options or vesting of Equity Interests by or in any current or
former director, officer, employee, consultant or agent of the Company, any of its Restricted Subsidiaries, or any direct or indirect parent of the Company (or their respective estates or immediate family members); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) distributions or payments of Securitization Fees and purchases of Receivables and Related Assets pursuant to a
Securitization Repurchase Obligation in connection with a Qualified Securitization Transaction; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) a Restricted
Subsidiary of the Company purchasing, redeeming or retiring for value Equity Interests of such Restricted Subsidiary from a Person other than an Affiliate of the Company; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) so long as no Default or Event of Default shall have occurred and be
continuing (or would result therefrom), any Restricted Payment which, together with all other Restricted Payments made pursuant to this clause&nbsp;(ix) on or after the Closing Date, does not exceed $20.0 million; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) cash payments, dividends, distributions, advances or other Restricted Payments by the Company or any Restricted Subsidiary
to allow the payment of cash in lieu of the issuance of fractional shares of capital stock of any such Person in connection with any transaction not otherwise prohibited by this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) Permitted Tax Distributions; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) the repurchase, redemption or other acquisition or retirement for value of any Indebtedness of the Company or any
Restricted Subsidiary that is subordinated to the Notes or any Subsidiary Guarantee pursuant to provisions similar to Section&nbsp;4.07 or Section&nbsp;4.09; <U>provided</U> that all Notes tendered by Holders in connection with an applicable Offer
to Purchase have been repurchased, redeemed or acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) the declaration and payment of dividends on the
Company&#146;s Equity Interests (or a Restricted Payment to any direct or indirect parent entity to fund a payment of dividends on such entity&#146;s Equity Interests), following the first public equity offering of such common stock after the
Closing Date, of up to 6%&nbsp;per annum of Net Cash Proceeds received by (or, in the case of a Restricted Payment to a direct or indirect parent entity, contributed to the capital of) the Company in or from any such public equity offering; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) so long as no Default or Event of Default has occurred and is continuing, the declaration and payment of regularly
scheduled or accrued dividends to holders of any class or series of Disqualified Stock of the Company or any preferred stock of any Restricted Subsidiary of the Company issued on or after the Closing Date in accordance with Section&nbsp;4.03; or
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) the distribution by dividend or otherwise, or other transfer or disposition of Equity Interests of Unrestricted
Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and/or Temporary Cash Investments). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The amount
of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment of the asset(s) or securities proposed to be transferred or issued by the Company or Restricted Subsidiary, as the case may be. If a
Restricted Payment is not made in cash, its value, if in excess of $20.0 million, must be determined by the Company&#146;s Board of Directors as evidenced by a resolution of the Board of Directors of the Company, which determination shall be
conclusive. For purposes of determining compliance with this Section&nbsp;4.04, in the event that a Restricted Payment meets the criteria of more than one of the categories of Restricted Payments described in clauses (i)&nbsp;through (xv)&nbsp;of
Section&nbsp;4.04(b), or is entitled to be made pursuant to Section&nbsp;4.04(a), the Company will be permitted to classify such Restricted Payment on the date it is made, or later </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
reclassify all or a portion of such Restricted Payment, in any manner that complies with this covenant. For the avoidance of doubt, the redemption of the Company&#146;s 10% paid-in-kind
preferred, non-convertible membership interests on the Closing Date shall not constitute a Restricted Payment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.05
<U>Limitation on Transactions with Affiliates of the Company</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company will not, and will not permit any Restricted Subsidiary to,
directly or indirectly enter into any transaction or series of related transactions (including, without limitation, the sale, purchase, exchange or lease of assets, property or services) with any Affiliate of the Company unless the following
conditions are met: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the transaction or series of transactions must be on terms which are not materially less favorable to the Company
or the Restricted Subsidiary, taken as a whole, as would be available in a comparable transaction with an unrelated third party; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
if the transaction or series of transactions involves: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) aggregate payments of $10.0 million or more, then the
transaction or series of transactions must be approved by the Company&#146;s Board of Directors, including the approval of a majority of directors who are disinterested in the transaction or transactions being approved, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) aggregate payments of $20.0 million or more, then the Company or Restricted Subsidiary must receive an opinion issued by
an independent accounting, appraisal or investment banking firm of national standing stating that such transaction or series of transactions is fair to the Company or such Restricted Subsidiary from a financial point of view. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">However, this provision does not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) any employment, compensation or severance arrangement or transactions relating to benefit plans or similar arrangements
with any employee, contractor, consultant, director or officer of the Company or any Restricted Subsidiary approved by the Company&#146;s Board of Directors; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) payment of reasonable and customary fees, benefits and reimbursements of expenses (pursuant to indemnity arrangements or
otherwise) of officers, directors, employees, contractors or consultants of the Company or any Restricted Subsidiary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3)
loans and advances (or cancellations of loans or advances) to employees, consultants, directors and officers of the Company or any Subsidiary in the ordinary course of business for bona fide business purposes of the Company and its Restricted
Subsidiaries otherwise permitted pursuant to the terms of the Notes and applicable law; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) Restricted Payments that are permitted by Section&nbsp;4.04 or Permitted
Investments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) issuances of Equity Interests (other than Disqualified Stock) of the Company; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) any transaction between or among the Company and one or more Restricted Subsidiaries of the Company or among one or more
Restricted Subsidiaries of the Company; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) any transaction with any Person solely in its capacity as a holder of
Indebtedness or Equity Interests of the Company or any of its Restricted Subsidiaries, if such person is treated no more favorably than any other holder of Indebtedness or Equity Interest of the Company; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) any agreement as in effect on the Closing Date or any amendment thereto or renewal or modification thereof, so long as the
amendment, renewal or modification, taken as a whole, is not materially more disadvantageous to the Company and the Restricted Subsidiaries or the Holders than the agreement existing on the Closing Date (as determined in good faith by the Company);
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) transactions with (i)&nbsp;customers, clients, suppliers, joint ventures, joint venture partners, partnerships,
partners, or purchasers or sellers of goods or services that so long as the terms of any such transactions meet the requirements of clause&nbsp;(a)&nbsp;of the first paragraph&nbsp;of this covenant (as determined by the Company in good faith) and
(ii)&nbsp;joint ventures, joint venture partners, partnerships or partners so long as the terms of any such transactions, taken as a whole, are not materially less favorable to the Company or its Restricted Subsidiary participating in such joint
venture or partnership than they are to other comparable joint venture participants or partners (as determined by the Company in good faith); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) transactions in which the Company or any of its Restricted Subsidiaries, as the case may be, delivers to the Trustee a
letter from an accounting, appraisal or investment banking firm of national standing stating that such transaction is fair to the Company or the relevant Restricted Subsidiary from a financial point of view or stating that the terms are not
materially less favorable to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) transactions with a Person (other than an Unrestricted Subsidiary of the Company) that is an Affiliate of the Company
solely because the Company owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) transactions between the Company or a Restricted Subsidiary and Wise Recycling, LLC or any of its Subsidiaries;
<U>provided</U> that such transaction is in the ordinary course of business and consistent with past practice and the Company&#146;s Board of Directors determines that the terms of any such transaction are not materially less
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
favorable to the Company or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by the Company or such Restricted Subsidiary with an unrelated
Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) any Qualified Securitization Transaction; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(14) pledges of Equity Interests of Unrestricted Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.06 <U>Limitation on Liens</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company will not, and will not permit any Restricted Subsidiary to, create, assume, incur or permit any Lien upon any of their assets,
except for Permitted Liens. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.07 <U>Limitation on Asset Sales</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Company will not, and will not permit any Restricted Subsidiary to, consummate any Asset Sale, unless (i)&nbsp;the consideration
received by the Company or such Restricted Subsidiary is at least equal to the Fair Market Value of the assets sold or disposed of, (ii)&nbsp;at least 75% of the consideration received consists of (A)&nbsp;cash or Temporary Cash Investments,
(B)&nbsp;the assumption or discharge of unsubordinated Indebtedness of the Company or any Restricted Subsidiary or other liabilities of the Company or a Restricted Subsidiary (in each case, other than Indebtedness or other liabilities owed to the
Company or any Affiliate of the Company), <U>provided</U> that the Company or such Restricted Subsidiary is irrevocably and unconditionally released or discharged from all liability under such Indebtedness or other liabilities, (C)&nbsp;Replacement
Assets, or (D)&nbsp;Designated Non-cash Consideration received by the Company or any of its Restricted Subsidiaries in such Asset Sale having an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received
since the Closing Date pursuant to this clause&nbsp;(D)&nbsp;not to exceed $15.0 million (with the Fair Market Value of each item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent
changes in value), plus net reductions in any such Designated Non-cash Consideration as a result of sales, repayments, dispositions or other amortizations for cash, in an amount not to exceed the lesser of (x)&nbsp;the amount of cash received, less
the cost of disposition, and (y)&nbsp;the Fair Market Value of such Designated Non-cash Consideration at the time received and (iii)&nbsp;(A)&nbsp;if such Asset Sale involves the disposition of Noteholder Priority Collateral or, after the Discharge
of ABL Obligations, the disposition of ABL Priority Collateral, the Net Cash Proceeds thereof shall be paid directly by the purchaser of the Collateral to the Collateral Agent for deposit into the Collateral Account pending application in accordance
with the provisions described below, and, if any property other than cash or Temporary Cash Investments is included in such Net Cash Proceeds, substantially all of such property shall be made subject to the Note Liens and (B)&nbsp;if, after the
Discharge of Rexam Obligations, such Asset Sale involves the disposition of any Specified Mill Assets, the Net Cash Proceeds thereof shall be paid directly by the purchaser of such Specified Mill Assets to the Collateral Agent for deposit into the
Collateral Account pending application in accordance with the provisions described below, and, if any property other than cash or Temporary Cash Investments is included in such Net Cash Proceeds (after Discharge of Rexam Obligations), substantially
all of such property shall be made subject to the Note Liens. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this provision, any securities, notes or other obligations received by the
Company or any such Restricted Subsidiary that are converted by the Company or such Restricted Subsidiary into cash within 180&nbsp;days after receipt (to the extent of the cash received in such conversion) shall be deemed to be cash. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Within 12&nbsp;months after the Company&#146;s or any Restricted Subsidiary&#146;s receipt of the Net Cash Proceeds of any Asset Sale, the
Company or such Restricted Subsidiary, at its option, may apply the Net Cash Proceeds from such Asset Sale: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to the
extent such Net Cash Proceeds constitute proceeds from the sale of (x)&nbsp;ABL Priority Collateral or assets that are not Collateral, to repay permanently any Indebtedness under the Credit Agreement or any other Credit Facility then outstanding as
required by the terms thereof (and to effect a permanent reduction in the availability under the Credit Agreement or any other Credit Facility), (y)&nbsp;assets of a Restricted Subsidiary that is not a Guarantor, to repay Indebtedness of a
Restricted Subsidiary that is not a Guarantor, or (z)&nbsp;Noteholder Priority Collateral or Specified Mill Assets, to repay permanently any other Permitted Additional Pari Passu Obligations if the Issuers substantially concurrently reduce amounts
outstanding under the Notes on a <U>pro rata</U> basis by making an Offer to Purchase, in accordance with the procedures set forth below, to all Holders to purchase the <U>pro rata</U> portion of the aggregate principal amount Notes at a purchase
price equal to 100% of the principal amount thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to acquire (or enter into a legally binding agreement to
acquire) all or substantially all of the assets of a Permitted Business, or Equity Interests of (x)&nbsp;a Restricted Subsidiary from a Person other than the Company or a Restricted Subsidiary or (y)&nbsp;a Person engaged in such a business in an
amount that will cause such Person to become a Restricted Subsidiary (or in the case of an Asset Sale of ABL Priority Collateral, to acquire additional Collateral); <U>provided</U> that to the extent such Net Cash Proceeds are received in respect of
Noteholder Priority Collateral or Specified Mill Assets, such Net Cash Proceeds are applied to acquire assets substantially all of which constitute Noteholder Priority Collateral; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to make a capital expenditure (or enter into a legally binding agreement to make such a capital expenditure);
<U>provided</U> that to the extent such Net Cash Proceeds are received in respect of Noteholder Priority Collateral or Specified Mill Assets, such expenditures shall relate to Noteholder Priority Collateral; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) to invest the Net Cash Proceeds (or enter into a legally binding agreement to invest) in Replacement Assets;
<U>provided</U> that to the extent such Net Cash Proceeds are received in respect of Noteholder Priority Collateral or Specified Mill Assets, substantially all of such Replacement Assets constitute Noteholder Priority Collateral; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) to do any combination of the foregoing; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U> that the Company and its Restricted Subsidiaries will be deemed to have complied with the provisions described in clauses (ii), (iii)&nbsp;and
(iv)&nbsp;above, if and to the extent that, within </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
12&nbsp;months after the receipt of such Net Cash Proceeds, the Company (or one or more of its Restricted Subsidiaries) has entered into and not abandoned or rejected a binding agreement to apply
such Net Cash Proceeds in accordance with the provisions described in clauses (ii), (iii)&nbsp;and (iv)&nbsp;above, and such application is thereafter completed within 180&nbsp;days after the end of such
<FONT STYLE="white-space:nowrap">12-month</FONT> period. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The amount of such excess Net Cash Proceeds required to be applied (or to be
committed to be applied) during such 12-month period as set forth in the preceding paragraph&nbsp;and not applied as so required by the end of such period, shall constitute &#147;<U>Excess Proceeds</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">When the aggregate amount of Excess Proceeds exceeds $20.0 million, within thirty&nbsp;days thereof, or earlier at the option of the Issuers,
the Issuers will make an Offer to Purchase to all Holders and (x)&nbsp;in the case of Net Cash Proceeds from an Asset Sale of Noteholder Priority Collateral or Specified Mill Assets, to the holders of any other Permitted Additional Pari Passu
Obligations containing provisions similar to those set forth in this Indenture with respect to asset sales or (y)&nbsp;in the case of any other Net Cash Proceeds, to all holders of other Indebtedness that is <U>pari passu</U> in right of payment
with the Notes (&#147;<U>Pari Passu Indebtedness</U>&#148;) containing provisions similar to those set forth in this Indenture with respect to asset sales, in each case, in respect of the maximum principal amount, on a <U>pro rata</U> basis, of the
Notes and the Permitted Additional Pari Passu Obligations or Pari Passu Indebtedness, as applicable, that may be repurchased by such Excess Proceeds. The offer price in any Offer to Purchase will be equal to 100% of the principal amount of the Notes
(and 100% of the principal amount or, if different, the accreted value of any Permitted Additional Pari Passu Obligations or Pari Passu Indebtedness) plus accrued and unpaid interest to the date of purchase, and will be payable in cash. If any
Excess Proceeds remain after consummation of an Offer to Purchase, the Issuers may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture and such remaining amount shall not be added to any subsequent Excess Proceeds
for any purpose under this Indenture. If the aggregate principal amount of the Notes and principal amount or, if different, accreted value of other Permitted Additional Pari Passu Obligations (in the case of Net Cash Proceeds from Noteholder
Priority Collateral or Specified Mill Assets) or Notes and other Pari Passu Indebtedness (in the case of any other Net Cash Proceeds) tendered into such Offer to Purchase exceeds the amount of Excess Proceeds, the Trustee will select the Notes and
other Permitted Additional Pari Passu Obligations or other Pari Passu Indebtedness, as the case may be, to be purchased on a <U>pro rata</U> basis, by lot or such other method as the Trustee deems fair and appropriate in accordance with the
Applicable Procedures. Upon completion of each Offer to Purchase, the amount of Excess Proceeds will be reset at zero. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pending the final
application of any such Net Cash Proceeds (other than Trust Monies), the Issuers or any of their Restricted Subsidiaries may temporarily reduce revolving credit borrowings or otherwise invest such Net Cash Proceeds in any manner that is not
prohibited by the terms of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Issuers shall determine in good faith whether, and to what extent, an Asset Sale is in
respect of Noteholder Priority Collateral or Specified Mill Assets and to what extent the Net Cash Proceeds in respect of an Asset Sale of Noteholder Priority Collateral or Specified Mill Assets are used to acquire or are invested in Noteholder
Priority Collateral taking </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
into account all relevant factors, including without limitation, the existence of structurally senior claims against the Noteholder Priority Collateral or Specified Mill Assets and the assets of
an entity whose capital stock is subject to such Asset Sale or acquired with such Net Cash Proceeds. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Issuers will comply with
Rule&nbsp;14e-1 under the Exchange Act, to the extent applicable, and any other applicable tender offer rules, securities laws or regulations in connection with an Offer to Purchase. To the extent that the provisions of any securities laws or
regulations conflict with this Section&nbsp;4.07, the Issuers will comply with the applicable securities laws and regulations and will not be deemed to have breached their obligations under this Section&nbsp;4.07 by virtue of such conflict. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.08 <U>Additional Guarantees</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall cause each Restricted Subsidiary formed or acquired after the Closing Date (other than an Excluded Subsidiary), within
10&nbsp;Business Days, to execute and deliver a supplemental indenture to this Indenture substantially in the form of <U>Exhibit&nbsp;D</U> providing for a Subsidiary Guarantee and supplements to the applicable Security Documents in order to grant a
lien in the Collateral owned by such Restricted Subsidiary to the same extent as that set forth in this Indenture and the Security Documents and to take all actions required by the Security Documents to perfect such Lien. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall not permit any Restricted Subsidiary that does not also provide a Subsidiary Guarantee, directly or indirectly, to Guarantee
any Indebtedness (&#147;<U>Guaranteed Indebtedness</U>&#148;) of either Issuer or any Guarantor (other than Indebtedness in an aggregate principal amount not to exceed $10.0 million), unless (i)&nbsp;such Restricted Subsidiary simultaneously
executes and delivers a supplemental indenture to this Indenture substantially in the form of <U>Exhibit&nbsp;D</U> providing for a Subsidiary Guarantee and supplements to the applicable Security Documents in order to grant a lien in the Collateral
owned by such Restricted Subsidiary to the same extent as that set forth in this Indenture and the Security Documents and to take all actions required by the Security Documents to perfect such Lien and (ii)&nbsp;such Restricted Subsidiary waives and
will not in any manner whatsoever claim or take the benefit or advantage of, any rights or reimbursement, indemnity or subrogation or any other rights against the Issuers as a result of any payment by such Restricted Subsidiary under its Subsidiary
Guarantee until the Notes have been paid in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Guaranteed Indebtedness is (i)&nbsp;<U>pari passu</U> in right of payment with
the Notes, then the Guarantee of such Guaranteed Indebtedness shall be <U>pari passu</U> in right of payment with, or subordinated to, the Subsidiary Guarantee or (ii)&nbsp;subordinated in right of payment to the Notes, then the Guarantee of such
Guaranteed Indebtedness shall be subordinated in right of payment to the Subsidiary Guarantee at least to the extent that the Guaranteed Indebtedness is subordinated to the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.09 <U>Purchase of Notes upon a Change of Control</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Issuers must commence, unless the Issuers have previously given an unconditional and irrevocable notice of redemption with respect to
all of the outstanding Notes in accordance with Section&nbsp;3.03 within 30&nbsp;days of the occurrence of a Change of Control, and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
consummate an Offer to Purchase for all Notes then outstanding, at a purchase price equal to 101% of their principal amount (the &#147;<U>Change of Control Purchase Price</U>&#148;), plus accrued
interest (if any) to, but not including, the Payment Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon request, subject to applicable escheat laws, the Trustee and the
Paying Agent shall return to the Issuers any cash that remains unclaimed, together with interest or dividends, if any, thereon, held by them for the payment of the Change of Control Purchase Price; <U>provided</U>, <U>however</U>, that (x)&nbsp;to
the extent that the aggregate amount of cash deposited by the Issuers exceeds the aggregate Change of Control Purchase Price of the Notes or portions thereof to be purchased, the Trustee shall hold such excess for the Issuers and (y)&nbsp;promptly
after the Business Day following the Payment Date the Trustee shall return any such excess to the Issuers together with interest, if any, thereon. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Issuers shall comply, to the extent applicable, with the applicable tender offer rules, including Rule&nbsp;14e-1 under the Exchange
Act, and any other applicable securities laws or regulations in connection with an Offer to Purchase. To the extent that the provisions of any securities laws or regulations conflict with this Section&nbsp;4.09, the Issuers will comply with the
applicable securities laws and regulations and will not be deemed to have breached their obligations under this Section&nbsp;4.09 by virtue of such conflict. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding the foregoing, the Issuers will not be required to make an Offer to Purchase upon a Change of Control if a third party
makes the Offer to Purchase, in the manner, at the times and otherwise in compliance with the requirements set forth in this Section&nbsp;4.09 applicable to an Offer to Purchase made by the Issuers and purchases all the Notes validly tendered and
not withdrawn under such Offer to Purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.10 <U>Business Activities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company shall not, and shall not permit any Restricted Subsidiary to, engage in any business other than Permitted Businesses, except to
such extent as would not be material to the Company or its Restricted Subsidiaries, taken as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.11 <U>Limitation on
Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Company will not, and will not permit any of its
Restricted Subsidiaries to, directly or indirectly, create or agree to any encumbrance or restriction on the ability of any Restricted Subsidiary to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) pay dividends or make any other distributions on its Equity Interests to the Company or any of its Restricted Subsidiaries,
or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to the Company or any of its Restricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) make loans or advances to the Company or any of its Restricted Subsidiaries; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) pay any liabilities owed to the Company or any of its Restricted
Subsidiaries; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) transfer any of its properties or assets to the Company or any of its Restricted Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;4.11(a)&nbsp;will not apply to encumbrances or restrictions existing under or by reason of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) those in existence on the Closing Date in the Senior Secured Note Documents, the Credit Agreement or any other agreements
in effect on the Closing Date and any extensions, refinancings, renewals, replacements, amendments, supplements or restatements of such agreements; <U>provided</U> that the encumbrances and restrictions in any such extensions, refinancings,
renewals, replacements, amendments, supplements or restatements are not materially less favorable, taken as a whole (as determined by the Company in good faith), to the Holders than those encumbrances or restrictions that are then in effect and that
are being extended, refinanced, renewed, replaced, amended, supplemented or restated; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) applicable law, rules,
regulations or orders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) any agreement or instrument (including Acquired Indebtedness) applicable to or binding on a
Person, or any property or assets, acquired by the Company or any of its Restricted Subsidiaries as in effect at the time of such acquisition (except to the extent such agreement or instrument was entered into in connection with or in contemplation
of such acquisition), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, or the property or assets, so acquired;
<U>provided</U> that, in the case of such acquired Person&#146;s Indebtedness, such Indebtedness was permitted to be incurred by the terms of the Notes and this Indenture, and any extensions, refinancings, renewals, amendments or replacements of
such agreements; <U>provided</U> <U>further</U> that the encumbrances and restrictions in any such extensions, refinancings, renewals, amendments or replacements are not materially less favorable, taken as a whole (as determined by the Company in
good faith), to the Holders than those encumbrances or restrictions that are then in effect and that are being extended, refinanced, renewed, amended or replaced; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) customary provisions contained in any agreement for the sale or other disposition of a Restricted Subsidiary or assets
thereof that restricts distributions by such Restricted Subsidiary or the transfer of such assets pending such sale or other disposition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) those contained in the terms of any Indebtedness permitted to be incurred under this Indenture if either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the Company determines in good faith that the encumbrances and restrictions, taken as a whole, are not materially less
favorable to the Holders than those encumbrances and restrictions contained in the Credit Agreement; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) (x) the Company determines in good faith that the encumbrances and
restrictions, taken as a whole, are not materially more disadvantageous to the Holders of the Notes than is customary in comparable financings available to the Issuers at such time; and (y)&nbsp;the Company determines in good faith that, based on
its assessment of the obligor&#146;s ability to meet the financial and other covenants contained in the terms of such Indebtedness and other factors deemed relevant by the Company, such encumbrances and restrictions will not cause the Issuers not to
have the funds necessary to pay the principal (at maturity) of or interest on the Notes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>provided</U>, in each case, that such
Indebtedness was permitted to be incurred by the terms of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) customary provisions with respect to the
subletting, assignment or transfer of any property or asset that is a lease, license, conveyance, contract or similar property or asset; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) customary provisions in joint venture agreements and other similar agreements entered into in the ordinary course of
business and which the Board of Directors of the Company determines in good faith will not adversely affect the Issuers&#146; ability to make payments of principal or interest on the Notes in any material respect; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) restrictions on cash or other deposits or net worth under contracts entered into in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) encumbrances and restrictions in Indebtedness refinancing other Indebtedness; <U>provided</U> that the encumbrances and
restrictions contained in the new Indebtedness are not materially less favorable, taken as a whole (as determined by the Company in good faith), to the Holders, than those contained in the Indebtedness being refinanced; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) encumbrances on property at the time the property was acquired by the Company or a Restricted Subsidiary, which
encumbrances are not applicable to any other properties or assets of the Company or its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11)
customary restrictions imposed by an agreement to sell, transfer or otherwise dispose of assets or Equity Interests to any person pending the closing of such sale, transfer or other disposition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) encumbrances or restrictions with respect to a Securitization Entity in connection with a Qualified Securitization
Transaction; <U>provided</U>, <U>however</U>, that such encumbrances and restrictions are necessary or advisable to effect the transactions contemplated under such Qualified Securitization Transaction in the good faith determination of the Company;
and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(13) any encumbrances or restrictions arising or agreed to in the ordinary course of business, and not relating to any
Indebtedness, that the Company determines in good faith do not, individually or in the aggregate, materially affect the Issuers&#146; ability to make future principal or interest payments on the Notes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Nothing contained in this Section&nbsp;4.11 shall prevent the Company or any Restricted
Subsidiary from (x)&nbsp;creating, incurring, assuming or suffering to exist any Liens otherwise permitted pursuant to Section&nbsp;4.06 or (y)&nbsp;restricting the sale or other disposition of property or assets of the Company or any of its
Restricted Subsidiaries that secure Indebtedness of the Company or any of its Restricted Subsidiaries. For purposes of determining compliance with this Section&nbsp;4.11, the subordination of loans or advances made to the Company or a Restricted
Subsidiary to other Indebtedness incurred by the Company or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make loans or advances. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.12 <U>Payments for Consent</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid any
consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all Holders
that consent, waive or agree to amend such terms and provisions in the time frame set forth in the solicitation documents relating to such consent, waiver or agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.13 <U>Provision of Financial Information</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) So long as any Notes are outstanding, the Company will have its annual financial statements audited by a nationally recognized firm of
independent accountants and will furnish to the Trustee and the Holders of Notes, within 45&nbsp;days from the end of a quarterly period and 90&nbsp;days from the end of the Company&#146;s fiscal year, all quarterly and annual financial statements
in a form substantially similar to the form included in the Offering Memorandum prepared in accordance with GAAP and together with a &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations&#148; for each such
quarter or fiscal year and, with respect to the annual information only, an opinion on the annual financial statements by the Company&#146;s certified independent accountants; <U>provided</U>, <U>however</U>, that (1)&nbsp;such financial statements
shall not be required to contain separate financial statements for any Guarantor other than condensed consolidating footnote disclosure containing information with respect to Guarantors and Subsidiaries that are not guaranteeing the Notes, in each
case on an aggregate basis and consistent with the presentation in the Offering Memorandum, (2)&nbsp;such reports shall not be required to comply with the rules, regulations and policies of the SEC with respect to any non-GAAP financial measures
contained therein and (3)&nbsp;the Company shall not be required to comply with Section&nbsp;404 of the Sarbanes-Oxley Act of 2002. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
The Company will distribute such financial statements and such reports (as well as the details regarding the conference call described below) electronically to (a)&nbsp;any Holder of the Notes, (b)&nbsp;to any beneficial owner of Notes, (c)&nbsp;to
any prospective investor who provides their e-mail address to the Company and certifies that they are a QIB or (d)&nbsp;any securities analyst who provides their e-mail address to the Company and certifies that they are a
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
securities analyst. The Company will also hold a quarterly conference call for the Holders of the Notes to discuss such financial information. The conference call will not be later than
10&nbsp;Business&nbsp;Days from the time that the Company distributes the financial information as set forth above. In addition, the Company will provide to the Trustee and the Holders all current reports that would be required to be filed with or
furnished to the SEC on Form&nbsp;8-K if the Company were required to file or furnish such reports, within 10&nbsp;days following the occurrence of an event that would be required to be reported thereon; <U>provided</U> that no such current report
will be required to be furnished if the Company determines in its good faith judgment that such event is not material to Holders of the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) For so long as any of the Notes remain outstanding, the Company will furnish to the Holders and to prospective investors that certify that
they are QIBs, upon their request, the information required to be delivered pursuant to Rule&nbsp;144A(d)(4)&nbsp;under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) If the Company has designated any of its Subsidiaries as Unrestricted Subsidiaries, then, to the extent that any such Unrestricted
Subsidiary or group of Unrestricted Subsidiaries would (but for its or their being designated as an Unrestricted Subsidiary or Subsidiaries) constitute a Significant Subsidiary or Subsidiaries, the quarterly and annual financial information required
by Section&nbsp;4.13(a)&nbsp;shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of
Operations,&#148; of the financial condition and results of operations of the Company and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted Subsidiaries of the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.14 <U>Statement by Officers as to Default</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event that any Officer becomes aware of any Default or Event of Default, the Issuers shall, reasonably promptly, deliver to the Trustee
an Officers&#146; Certificate specifying such Default or Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.15 <U>Payment of Taxes and Other Claims</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay or discharge and shall cause each of their Subsidiaries to pay or discharge, or cause to be paid or discharged,
before the same shall become delinquent (i)&nbsp;all material taxes, assessments and governmental charges levied or imposed upon (a)&nbsp;the Issuers or any such Subsidiary, (b)&nbsp;the income or profits of any such Subsidiary which is a
corporation or (c)&nbsp;the property of the Issuers or any such Subsidiary and (ii)&nbsp;all material lawful claims for labor, materials and supplies that, if unpaid, might by law become a lien upon the property of the Issuers or any such
Subsidiary; <U>provided</U> that the Issuers shall not be required to pay or discharge, or cause to be paid or discharged, any such tax, assessment, charge or claim the amount, applicability or validity of which is being contested in good faith by
appropriate proceedings and for which adequate reserves have been established. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.16 <U>Maintenance of Properties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Company shall cause all properties used or useful in the conduct of its business or the business of its Restricted Subsidiaries to be
maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the judgment of the
Company may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; <U>provided</U>, that nothing in this Section&nbsp;4.16 shall prevent the Company or any Restricted
Subsidiary from discontinuing the use, operation or maintenance of any of such properties or disposing of any of them, if such discontinuance or disposal is, in the judgment of the Company, desirable in the conduct of the business of the Company or
such Restricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.17 <U>Compliance Certificates</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Officers of the Issuers shall certify, on or before a date not more than 90&nbsp;days after the end of each fiscal year, that a review has
been conducted of the activities of the Company and its Restricted Subsidiaries and the Company&#146;s and its Restricted Subsidiaries&#146; performance under this Indenture and that, to their knowledge, the Issuers have fulfilled all obligations
hereunder, or, if there has been a default in the fulfillment of any such obligation, specifying each such default and the nature and status thereof. The Issuers shall also notify the Trustee within five Business Days if any of them becomes aware of
any default or defaults in the performance of any covenants or agreements under this Indenture and such default has not been remedied. For purposes of this Section&nbsp;4.17, such compliance shall be determined without regard to any period of grace
or requirement of notice provided under this Indenture. If any of the Officers of the Issuers signing such certificate has knowledge of such a Default or Event of Default, the certificate shall describe any such Default or Event of Default and its
status. The first certificate to be delivered pursuant to this Section&nbsp;4.17 shall be for the fiscal year ending December&nbsp;31, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.18 <U>Waiver of Stay, Extension or Usury Laws</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers covenant (to the extent that they may lawfully do so) that they shall not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Issuers from paying all or any portion of the principal of, premium, if any, or interest on the Notes as
contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Indenture; and (to the extent that they may lawfully do so) the Issuers hereby expressly waive all benefit or
advantage of any such law and covenant that they will not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.19 <U>Maintenance of Office or Agency</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall maintain an office or agency where Notes may be surrendered for registration of transfer or exchange or for presentation for
payment and where notices and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
demands to or upon the Issuers in respect of the Notes and this Indenture may be served. The Issuers will give prompt written notice to the Trustee of the location, and any change in the
location, of such office or agency. If at any time the Issuers shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made
or served at the Corporate Trust Office of the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may also from time to time designate one or more other offices or
agencies where the Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations. The Issuers shall give prompt written notice to the Trustee of any such designation or rescission and of any
change in the location of any such other office or agency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers hereby initially designate Wells Fargo Bank, National Association,
7000 Central Parkway, Suite 550, Atlanta, Georgia 30328 as such office of the Issuers in accordance with Section&nbsp;2.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.20 <U>Suspension of Covenants</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Following the first day: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)
the Notes are rated Investment Grade by both of the Rating Agencies; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) no Default has occurred and is continuing under this
Indenture, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">the Company and its Restricted Subsidiaries shall not be subject to the provisions of Sections&nbsp;4.03, 4.04, 4.05, 4.07,
4.08, 4.11 and 5.01(a)(3)&nbsp;(collectively, the &#147;<U>Suspended Covenants</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If at any time the credit rating on the Notes
is downgraded below an Investment Grade rating by any Rating Agency, then the Suspended Covenants will thereafter be reinstated as if such covenants had never been suspended (the &#147;<U>Reinstatement Date</U>&#148;) and be applicable pursuant to
the terms of this Indenture (including in connection with performing any calculation or assessment to determine compliance with the terms of this Indenture), unless and until the Notes subsequently have Investment Grade ratings from both of the
Rating Agencies and no Default or Event of Default is in existence (in which event the Suspended Covenants shall no longer be in effect for such time that the Notes maintain an Investment Grade rating from both of the Rating Agencies and no Default
or Event of Default is in existence); <U>provided</U>, <U>however</U>, that no Default, Event of Default or breach of any kind shall be deemed to exist under this Indenture, the Notes or the Subsidiary Guarantees with respect to the Suspended
Covenants based on, and none of the Company or any of its Subsidiaries shall bear any liability for, any actions taken or events occurring during the Suspension Period (as defined below), regardless of whether such actions or events would have been
permitted if the applicable Suspended Covenants remained in effect during such period. The period of time between the date of suspension of the covenants and the Reinstatement Date is referred to as the &#147;<U>Suspension Period</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Reinstatement Date, all Indebtedness incurred during the Suspension Period will be classified to have been incurred pursuant to
Section&nbsp;4.03(a)&nbsp;or one of the clauses </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
set forth in the definition of &#147;Permitted Indebtedness&#148; (to the extent such Indebtedness would be permitted to be incurred thereunder as of the Reinstatement Date and after giving
effect to Indebtedness incurred prior to the Suspension Period and outstanding on the Reinstatement Date). To the extent such Indebtedness would not be so permitted to be incurred pursuant to Section&nbsp;4.03(a)&nbsp;or the definition of
&#147;Permitted Indebtedness,&#148; such Indebtedness will be deemed to have been outstanding on the Closing Date, so that it is classified under clause&nbsp;(1)&nbsp;of the definition of &#147;Permitted Indebtedness.&#148; Calculations made after
the Reinstatement Date of the amount available to be made as Restricted Payments under Section&nbsp;4.04 will be made as though Section&nbsp;4.04 had been in effect since the Closing Date and throughout the Suspension Period. Accordingly, Restricted
Payments made during the Suspension Period will reduce the amount available to be made as Restricted Payments under Section&nbsp;4.04(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of Section&nbsp;4.05, all agreements and arrangements entered into by the Company and any Restricted Subsidiary with an Affiliate
of the Company during the Suspension Period prior to the Reinstatement Date will be deemed to have been entered into on or prior to the Closing Date and for purposes of Section&nbsp;4.11, all contracts entered into during the Suspension Period prior
to the Reinstatement Date that contain any of the restrictions contemplated by such covenant will be deemed to have been existing on the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">During a Suspension Period, the Issuers may elect, by delivering written notice thereof to the Trustee, to suspend the Subsidiary Guarantees
and, by delivering written notice to the Collateral Agent, to release the Liens securing Noteholder Priority Collateral and the Specified Mill Assets. On the Reinstatement Date or as soon as reasonably practicable (but in no event more than 10
Business Days) thereafter, the Subsidiary Guarantees will be reinstated and any Noteholder Priority Collateral and Specified Mill Assets that were released from Liens securing the Notes and the Subsidiary Guarantees, as well as any Noteholder
Priority Collateral acquired during the Suspension Period, will be restored and pledged to secure, on a first-priority basis, subject to Permitted Liens, the Notes and the Subsidiary Guarantees in accordance with the Security Documents and the
provisions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">During any Suspension Period, the Board of Directors of the Company may not designate any of the
Company&#146;s Subsidiaries as Unrestricted Subsidiaries pursuant to this Indenture. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 5 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SUCCESSORS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.01
<U>Consolidation, Merger or Sale of Assets</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Issuer will agree not to consolidate or merge with or into any other entity, or
sell, lease or convey all or substantially all of its assets to any other entity in any one or more transactions unless the following conditions are met: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) the resulting, surviving or transferee Person (the &#147;<U>Surviving Entity</U>&#148;) (if not an Issuer) (A)&nbsp;is
organized under the laws of the United States of America or any state or the District of Columbia; <U>provided</U> that if the Surviving Entity is not a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
corporation satisfying the requirements of this clause&nbsp;(A), there shall be an obligor or a co-obligor that is a corporation that satisfies the requirements of this clause(A), (B)&nbsp;shall
expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, in form reasonably satisfactory to the Trustee, all of such Issuer&#146;s obligations under the Notes and this Indenture (and any Subsidiary Guarantee will
be confirmed as applying to such Surviving Entity&#146;s obligations) and (C)&nbsp;shall expressly assume the due and punctual performance of the covenants and obligations of such Issuer under the Security Documents; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) immediately after giving effect to the transaction (and treating any Indebtedness which becomes an obligation of the
Surviving Entity or any Restricted Subsidiary as a result of such transaction as having been incurred by such Surviving Entity or such Restricted Subsidiary at the time of such transaction), no Default or Event of Default under this Indenture may
have occurred and be continuing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) immediately after giving effect to the transaction (and treating any indebtedness
which becomes an obligation of the Surviving Entity or any Restricted Subsidiary as a result of such transaction as having been incurred by such Surviving Entity or such Restricted Subsidiary at the time of such transaction), either (x)&nbsp;the
Surviving Entity would be able to incur at least $1.00 of Indebtedness under the Fixed Charge Coverage Ratio under Section&nbsp;4.03(a)&nbsp;determined on a <U>pro</U> <U>forma</U> basis as if such transaction had occurred at the beginning of the
immediately preceding four-quarter period; or (y)&nbsp;the Fixed Charge Coverage Ratio for the Surviving Entity, determined on a <U>pro</U> <U>forma</U> basis as if such transaction had occurred at the beginning of the immediately preceding
four-quarter period, would be equal to or greater than the actual Fixed Charge Coverage Ratio for the Company for the most recently completed four-quarter period prior to the transaction; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) at the time of the transaction, each Guarantor, if any, unless it is the other party to the transactions described above,
will have by supplemental indenture confirmed that its Subsidiary Guarantee shall apply to such Person&#146;s obligations under this Indenture and the Notes; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) such Issuer or the Surviving Entity, as applicable, promptly causes such amendments, supplements or other instruments to be
executed, delivered, filed and recorded, as applicable, in such jurisdictions as may be reasonably required by applicable law to preserve and protect the Lien of the Security Documents on the Collateral owned by or transferred to such Issuer or the
Surviving Entity; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) the Collateral owned by or transferred to such Issuer or the Surviving Entity, as applicable, shall
(a)&nbsp;continue to constitute Collateral under this Indenture and the Security Documents, (b)&nbsp;be subject to the Lien in favor of the Collateral Agent for the benefit of the Trustee and the Holders, and (c)&nbsp;not be subject to any Lien
other than Permitted Liens; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) to the extent that the property and assets of the Person that is merged or consolidated
with or into the relevant Issuer or the Surviving Entity, as </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">
applicable, are property and assets of the types that would constitute Collateral under the Security Documents, the relevant Issuer or the Surviving Entity shall take such action as may be
reasonably necessary to cause such property and assets to be made subject to the Lien of the Security Documents, including perfection thereof, in the manner and to the extent required in this Indenture or any of the Security Documents; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) the Company must deliver to the Trustee an Officers&#146; Certificate and Opinion of Counsel, each stating that such
consolidation, merger or transfer and such supplemental indenture complies with this provision and that all conditions precedent provided for herein relating to such transaction have been complied with. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, if an Issuer effects a consolidation, merger or sale, conveyance, assignment, transfer, lease or other
disposition of substantially all of its assets, the condition set forth in clause&nbsp;(3)&nbsp;of this Section&nbsp;5.01(a)&nbsp;shall not apply to a transaction involving a Surviving Entity that is otherwise subject to the foregoing provisions if:
(A)&nbsp;(i)&nbsp;the Surviving Entity (1)&nbsp;was formed for the purpose of effecting such transaction, (2)&nbsp;did not engage in any business prior to such transaction, (3)&nbsp;immediately prior to such transaction had no indebtedness or
liabilities, contingent or otherwise, of any kind whatsoever, (4)&nbsp;immediately after such transaction had no additional &#147;indebtedness&#148; or significant &#147;liabilities,&#148; contingent or otherwise, of any kind whatsoever in excess of
that which such Issuer had immediately prior to such transaction and (5)&nbsp;immediately after such transaction was engaged in the same business as such Issuer was engaged in immediately prior to such transaction, and (ii)&nbsp;the holders of the
outstanding voting shares of such Issuer immediately prior to the transaction own, directly or indirectly, the outstanding voting shares of the Surviving Entity immediately after the transaction in substantially the same proportion as before the
transaction; or (B)&nbsp;the merger was affected solely in connection with changing the jurisdiction of organization of such Issuer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) Each Guarantor will not, and the Issuers will not permit a Guarantor to, in one or more transactions, consolidate or merge
with or into any other entity (other than the Issuers or any Guarantor) or sell, lease or convey all or substantially all of its assets to any other entity (other than the Issuers or any Guarantor), unless at the time and after giving effect
thereto: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (A) either (1)&nbsp;the Guarantor will be the continuing entity in the case of a consolidation or merger
involving the Guarantor or (2)&nbsp;the Person formed by or surviving such consolidation or merger or the Person that acquires all or substantially all of the assets of the Guarantor on a consolidated basis (the &#147;<U>Surviving Guarantor
Entity</U>&#148;) will be a corporation, limited liability company, limited liability partnership, partnership or trust duly organized and validly existing under the laws of the United States of America, any state thereof or the District of Columbia
or the jurisdiction of organization of the Guarantor and such Person (x)&nbsp;expressly assumes, by a supplemental indenture, in a form reasonably satisfactory to the Trustee, all the obligations of such Guarantor under its Subsidiary Guarantee and
this Indenture and such Subsidiary Guarantee and Indenture will remain in full force and effect; and (y)&nbsp;shall expressly assume the due and punctual performance of the covenants and obligations of the applicable Guarantor under the Security
Documents; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) after giving effect to such transaction, no Default or Event of Default
exists; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) the Guarantor or the Surviving Guarantor Entity, as applicable, promptly causes such amendments, supplements
or other instruments to be executed, delivered, filed and recorded, as applicable, in such jurisdictions as may be reasonably required by applicable law to preserve and protect the Lien of the Security Documents on the Collateral owned by or
transferred to the Guarantor or the Surviving Guarantor Entity; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) the Collateral owned by or transferred to the
Guarantor or the Surviving Guarantor Entity, as applicable, shall (i)&nbsp;continue to constitute Collateral under this Indenture and the Security Documents, (ii)&nbsp;be subject to the Lien in favor of the Collateral Agent for the benefit of the
Trustee and the Holders, and (iii)&nbsp;not be subject to any Lien other than Permitted Liens; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) to the extent that
the property and assets of the Person that is merged or consolidated with or into the Guarantor or the Surviving Guarantor Entity, as applicable, are property or assets of the types which would constitute Collateral under the Security Documents, the
Guarantor or the Surviving Guarantor Entity shall take such action as may be reasonably necessary to cause such property and assets to be made subject to the Lien of the Security Documents, including perfection thereof, in the manner and to the
extent required in this Indenture or any of the Security Documents; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the transaction is made in compliance with
Section&nbsp;4.07. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;5.01, if the sale, lease, conveyance, assignment, transfer or other disposition of
all or substantially all of the properties and assets of one or more Restricted Subsidiaries of the Company, also constitutes the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties and
assets of the Company and its subsidiaries on a consolidated basis, such disposition shall be deemed to be the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties and assets of the
Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.02 <U>Successor Substituted</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon any consolidation or merger, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the property
and assets of any Issuer or any Guarantor in accordance with Section&nbsp;5.01 of this Indenture, the successor Person formed by such consolidation or into which such Issuer or Guarantor, as the case may be, is merged or to which such sale,
conveyance, transfer, lease or other disposition is made shall succeed to and be substituted for, and may exercise every right and power of, such Issuer or Guarantor, as the case may be, under this Indenture, the Notes and the related Subsidiary
Guarantees, as the case may be, with the same effect as if such successor Person had been named as such Issuer or such Guarantor, as the case may be, herein; <U>provided</U> that such Issuer or such Guarantor, as the case may be, shall not be
released from its obligation to pay the principal of, premium, if any, or interest on the Notes in the case of a lease of all or substantially all of its property and assets. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 6 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFAULTS AND REMEDIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.01 <U>Events of Default</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">An &#147;<U>Event of Default</U>&#148; wherever used herein, means any one of the following events: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) default in the payment of any installment of interest on any Notes for 30&nbsp;days after becoming due; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) default in the payment of the principal of (or premium, if any, on) any Notes when due (upon acceleration, optional redemption, required
purchase or otherwise); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) (i)&nbsp;default in the performance of any covenant contained in the terms of the Notes or this Indenture
(other than a default in the performance of a covenant that is specifically dealt with in clause&nbsp;(a)&nbsp;or (b)&nbsp;above or in subclause&nbsp;(ii), (iii)&nbsp;or (iv)&nbsp;of this clause&nbsp;(c)) and such default continues for a period of
60&nbsp;days after written notice of such failure, requiring the Issuers to remedy the same, shall have been given to the Issuers by the Trustee or to the Issuers and the Trustee by the Holders of 25% in aggregate principal amount of the Notes then
outstanding; (ii)&nbsp;default in the performance of the covenants contained in Section&nbsp;5.01; (iii)&nbsp;the Issuers fail to make or consummate an Offer to Purchase in accordance with the provisions set forth in Section&nbsp;4.07; (iv)&nbsp;the
Issuers fail to make or consummate an Offer to Purchase in accordance with the provisions set forth in Section&nbsp;4.09; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) default
shall have occurred under any agreements, indentures or instruments under which an Issuer or any Significant Subsidiary then has outstanding Indebtedness in excess of $25.0 million in the aggregate and, if not already matured in accordance with its
terms, such Indebtedness (after giving effect to the applicable grace period) shall have been accelerated, <U>provided</U> that if, prior to the entry of judgment in favor of the Trustee, such default under such indenture or instrument shall be
remedied or cured by such Issuer or such Significant Subsidiary, or waived by the applicable percentage of holders of such Indebtedness, then the Event of Default under this Indenture shall be deemed likewise to have been remedied, cured or waived;
and <U>provided</U> <U>further</U> that if such default results from an action of the United States government or a foreign government which prevents the affected Issuer or Significant Subsidiary from performing its obligations under such agreement,
indenture or instrument, the occurrence of such default will not be an Event of Default under this Indenture; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) one or more judgments,
orders or decrees for the payment of money in excess of $20.0 million, either individually or in the aggregate, shall be entered against an Issuer or any Significant Subsidiaries and shall not be discharged, paid, stayed, subject to a negotiated
settlement or subject to insurance, and there shall have been a period of 60&nbsp;days during which a stay of enforcement of such judgment or order, by reason of an appeal or otherwise, shall not be in effect; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) a court having jurisdiction in the premises enters a decree or order for (A)&nbsp;relief in
respect of an Issuer or any Significant Subsidiary in an involuntary case under any applicable Bankruptcy Law or insolvency or other similar law now or hereafter in effect, (B)&nbsp;appointment of a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official with respect to an Issuer or any Significant Subsidiary or for all or substantially all of the property and assets of an Issuer or any Significant Subsidiary or (C)&nbsp;the winding up or liquidation of the
affairs of an Issuer or any Significant Subsidiary other than pursuant to a merger or consolidation permitted by this Indenture and, in each case, such decree or order shall remain unstayed and in effect for a period of 60 consecutive&nbsp;days;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) an Issuer or any Significant Subsidiary (A)&nbsp;commences a voluntary case under any applicable Bankruptcy Law or insolvency or
other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any such law, (B)&nbsp;consents to the appointment of or taking possession by a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official with respect to an Issuer or any Significant Subsidiary or for all or substantially all of the property and assets of an Issuer or any Significant Subsidiary or (C)&nbsp;effects any general assignment for
the benefit of creditors; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) any Subsidiary Guarantee of any Significant Subsidiary or any group of Restricted Subsidiaries which
collectively (as of the latest audited consolidated financial statements for the Company) would constitute a Significant Subsidiary shall for any reason cease to be, or shall for any reason be asserted in writing by any Guarantor or Issuer not to
be, in full force and effect and enforceable in accordance with its terms, except to the extent permitted by this Indenture and any such Subsidiary Guarantee; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) unless all of the Collateral has been released from the Note Liens in accordance with the provisions of the Security Documents,
(x)&nbsp;default by an Issuer or any Restricted Subsidiary in the performance of its respective obligations under any of the Security Documents to which it is a party that materially adversely affects the enforceability, validity, perfection or
priority of the Note Liens on a material portion of the Collateral, (y)&nbsp;the repudiation or disaffirmation by an Issuer or any Guarantor of its material obligations under any of the Security Documents to which it is a party or (z)&nbsp;the
determination in a judicial proceeding that any of the Security Documents are unenforceable or invalid against an Issuer or any Guarantor party thereto for any reason with respect to a material portion of the Collateral and, in the case of any event
described in subclauses&nbsp;(x) through (z), such default, repudiation, disaffirmation or determination is not rescinded, stayed, or waived by the Persons having such authority pursuant to the Security Documents or otherwise cured within
60&nbsp;days after the Issuers receive written notice thereof specifying such occurrence from the Trustee or the Holders of at least 25% of the outstanding principal amount of the Notes and demanding that such default be remedied. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.02 <U>Acceleration</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default (other than an Event of Default specified in clause&nbsp;(f) or (g)&nbsp;of Section&nbsp;6.01 that occurs with respect
to an Issuer or any Significant Subsidiary) occurs and is continuing under this Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes, then outstanding, by written notice to the Issuers (and to the Trustee
if such notice is given by the Holders), may, and the Trustee at the request of such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Holders shall, declare the principal of, premium, if any, and accrued interest on the Notes to be immediately due and payable. Upon a declaration of acceleration, such principal of, premium, if
any, and accrued interest shall be immediately due and payable. If an Event of Default specified in clause&nbsp;(f) or (g)&nbsp;of Section&nbsp;6.01 occurs with respect to an Issuer or any Significant Subsidiary, the principal of, premium, if any,
and accrued interest on the Notes then outstanding shall automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.03 <U>Other Remedies</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs and is continuing, the Trustee may, and at the direction of the Holders of at least a majority in principal
amount of the outstanding Notes shall, pursue any available remedy by proceeding at law or in equity to collect the payment of principal of, premium, if any, or interest on the Notes or to enforce the performance of any provision of the Notes or
this Indenture or any Security Document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not
produce any of them in the proceeding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.04 <U>Waiver of Past Defaults</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections 6.02, 6.07 and 9.02, the Holders of at least a majority in principal amount of the outstanding Notes by written notice to
the Issuers and to the Trustee, may waive all past defaults and rescind and annul a declaration of acceleration and its consequences (other than with respect to an Event of Default arising under Section&nbsp;6.01(a)&nbsp;or (b)) if (x)&nbsp;all
existing Events of Default, other than any Event of Default arising under Section&nbsp;6.01(a)&nbsp;or (b), that have become due solely by such declaration of acceleration, have been cured or waived and (y)&nbsp;the rescission would not conflict
with any judgment or decree of a court of competent jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.05 <U>Control by Majority</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the terms of the Security Documents, the Holders of at least a majority in aggregate principal amount of the outstanding Notes may
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this
Indenture, that may involve the Trustee in personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in the giving of such direction and may take any other action it
deems proper that is not inconsistent with any such direction received from Holders of Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.06 <U>Limitation on
Suits</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Holder may not pursue any remedy with respect to this Indenture or the Notes unless: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Holder gives the Trustee written notice of a continuing Event of Default; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Holders of at least 25% in aggregate principal amount of outstanding Notes make a written
request to the Trustee to pursue the remedy; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) such Holder or Holders offer the Trustee indemnity reasonably satisfactory to the
Trustee against any costs, liability or expense; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Trustee does not comply with the request within 60&nbsp;days after receipt of
the request and the offer of indemnity; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) during such 60-day period, the Holders of a majority in aggregate principal amount of the
outstanding Notes do not give the Trustee a direction that is inconsistent with the request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">However, such limitations do not apply to
the right of any Holder of a Note to receive payment of the principal of, premium, if any, or interest on, such Note or to bring suit for the enforcement of any such payment, on or after the due date expressed in the Notes, which right shall not be
impaired or affected without the consent of the Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Holder may not use this Indenture to prejudice the rights of another Holder or
to obtain a preference or priority over such other Holder (it being understood that the Trustee shall have no responsibility to determine if such actions or forbearances are unduly prejudicial to such Holders). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.07 <U>Rights of Holders of Notes to Receive Payment</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of the principal of, premium, if
any, or interest on, such Note or to bring suit for the enforcement of any such payment, on or after the due date expressed in the Notes, shall not be impaired or affected without the consent of such Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.08 <U>Collection Suit by Trustee</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default in payment of principal, premium or interest specified in clause&nbsp;(a) or (b)&nbsp;of Section&nbsp;6.01 occurs and
is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Company or any other obligor of the Notes for the whole amount of principal, premium, if any, and accrued interest remaining unpaid,
together with interest on overdue principal, premium, if any, and, to the extent that payment of such interest is lawful, interest on overdue installments of interest, in each case at the rate specified in the Notes, and such further amount as shall
be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.09 <U>Restoration of Rights and Remedies</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then, and in every such case, subject to any determination in such proceeding, the Issuers, the Trustee and the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Issuers, Trustee and the Holders shall continue as though no
such proceeding had been instituted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.10 <U>Rights and Remedies Cumulative</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Notes in
Section&nbsp;2.07, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.11 <U>Delay or Omission Not Waiver</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing upon any Event of Default shall impair any such
right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article&nbsp;6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be
deemed expedient, by the Trustee or by the Holders, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.12 <U>Trustee May&nbsp;File Proofs of Claim</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the Intercreditor Agreement, the Trustee may file such proofs of claim and other papers or documents as may be necessary or
advisable in order to have the claims of the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section&nbsp;7.07)
and the Holders allowed in any judicial proceedings relative to the Issuers (or any other obligor of the Notes, including the Guarantors), their creditors or their property and shall be entitled and empowered to collect and receive any monies,
securities or other property payable or deliverable upon conversion or exchange of the Notes or upon any such claims and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in
any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it
for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section&nbsp;7.07. Nothing herein contained shall be deemed to empower the Trustee to authorize
or consent to, or accept or adopt on behalf of any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any
Holder in any such proceeding. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.13 <U>Priorities</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the Security Documents, if the Trustee collects any money pursuant to this Article&nbsp;6 (including any amounts received from the
Collateral Agent), it shall pay out the money in the following order: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">First: to the Trustee, Paying Agent, Registrar, Transfer Agent,
Collateral Agent, their agents and attorneys for all amounts due under Section&nbsp;7.07, including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee, Paying Agent, Registrar, Transfer Agent or
Collateral Agent and the costs and expenses of collection; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Second: to Holders for amounts then due and unpaid for principal of, premium,
if any, and interest on the Notes in respect of which or for the benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Notes for principal, premium, if
any, and interest, respectively; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Third: to the Issuers or any other obligors of the Notes, including the Guarantors, as their
interests may appear, or as a court of competent jurisdiction may direct. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee, upon prior written notice to the Issuers, may fix
a record date and payment date for any payment to Holders pursuant to this Section&nbsp;6.13. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.14 <U>Undertaking for
Costs</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action
taken or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of the suit, and the court may assess reasonable costs, including reasonable attorneys&#146; fees, against any party
litigant in the suit having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section&nbsp;6.14 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section&nbsp;6.07 or a suit by
Holders of more than 10% in principal amount of the outstanding Notes. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 7 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TRUSTEE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.01
<U>Duties of Trustee</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and
powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person&#146;s own affairs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Except during the continuance of an Event of Default: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) in the absence of bad faith on its part, the Trustee may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or
opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical calculations or other facts stated therein). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may not be relieved from
liabilities for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i)
this paragraph&nbsp;does not limit the effect of paragraph&nbsp;(b)&nbsp;of this Section&nbsp;7.01; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee shall
not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved in a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section&nbsp;6.05. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Whether or not therein expressly so provided, every provision of this
Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b)&nbsp;and (c)&nbsp;of this Section&nbsp;7.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The
Trustee shall be under no obligation to exercise any of its rights or powers under this Indenture at the request or direction of any of the Holders of the Notes unless the Holders have offered to the Trustee indemnity or security reasonably
satisfactory to it against any loss, liability or expense. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) The Trustee shall not be liable for interest on any money received by it
except as the Trustee may agree in writing with the Issuers. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.02 <U>Rights of Trustee</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper
Person. The Trustee need not investigate any fact or matter stated in the document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine
to make such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuers, personally or by agent or attorney at the sole cost of the Issuers and shall incur no liability or additional liability of
any kind by reason of such inquiry or investigation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Before the Trustee acts or refrains from acting, it may require an Officers&#146; Certificate
or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers&#146; Certificate or Opinion of Counsel. The Trustee may consult with counsel of its selection and
the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent or
attorney appointed with due care. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Trustee shall not be liable for any action it takes or omits to take in good faith that it
believes to be authorized or within the rights or powers conferred upon it by this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Unless otherwise specifically provided
in this Indenture, any demand, request, direction or notice from the Issuers shall be sufficient if signed by an Officer of the Issuers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) None of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to incur any liability,
financial or otherwise, in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers if it shall have reasonable grounds for believing that repayment of such funds or indemnity satisfactory to it against such
risk or liability is not assured to it. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a
Responsible Officer of the Trustee has actual knowledge thereof or unless written notice of any event which is in fact such a Default is received by the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and
this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) In no event shall the Trustee be responsible or liable for special, indirect, punitive, or consequential loss or
damage of any kind whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) The Trustee may request that the Issuers deliver a certificate setting forth the names of individuals and/or titles of officers authorized
at such time to take specified actions pursuant to this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.03 <U>Individual Rights of Trustee</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal with the Issuers or any
Affiliate of the Issuers with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest, it must eliminate such conflict within 90&nbsp;days or resign. Any Agent may do the same
with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.04 <U>Trustee&#146;s Disclaimer</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it
shall not be accountable for the Issuers&#146; use of the proceeds from the Notes or any money paid to the Issuers or upon the Issuers&#146; direction under any provision of this Indenture, it shall not be responsible for the use or application of
any money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this
Indenture other than its certificate of authentication. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.05 <U>Notice of Defaults</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Default occurs and is continuing and if it is known to the Trustee, the Trustee shall mail to Holders of Notes a notice of the Default
within 90&nbsp;days after it occurs. Except in the case of a Default relating to the payment of principal, premium, if any, or interest on any Note, the Trustee may withhold from the Holders notice of any continuing Default if and so long as it in
good faith determines that withholding the notice is in the interests of the Holders of the Notes. The Trustee shall not be deemed to know of any Default unless a Responsible Officer of the Trustee has actual knowledge thereof or unless written
notice of any event which is such a Default is received by the Trustee at the Corporate Trust Office of the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.06
<U>Reports by Trustee to Holders of the Notes</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Within 60&nbsp;days after each May&nbsp;15, beginning with the May&nbsp;15 following
the date of this Indenture, and for so long as Notes remain outstanding, the Trustee shall mail to the Holders of the Notes a brief report dated as of such reporting date that complies with Trust Indenture Act Section&nbsp;313(a)&nbsp;(but if no
event described in Trust Indenture Act Section&nbsp;313(a)&nbsp;has occurred within the twelve&nbsp;months preceding the reporting date, no report need be transmitted). The Trustee also shall comply with Trust Indenture Act Section&nbsp;313(b)(2).
The Trustee shall also transmit by mail all reports as required by Trust Indenture Act Section&nbsp;313(c). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.07
<U>Compensation and Indemnity</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers and the Guarantors, jointly and severally, shall pay to the Trustee from time to time such
compensation for its acceptance of this Indenture and services hereunder as the parties shall agree in writing from time to time. The Trustee&#146;s compensation shall not be </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
limited by any law on compensation of a trustee of an express trust. The Issuers and the Guarantors, jointly and severally, shall reimburse the Trustee promptly upon request for all reasonable
disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable, documented compensation, disbursements and expenses of the Trustee&#146;s agents and counsel.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers and the Guarantors, jointly and severally, shall indemnify the Trustee for, and hold the Trustee harmless against, any and
all loss, damage, claims, liability or expense (including the reasonable, documented fees and expenses of attorneys, as well as local counsel to the extent necessary) incurred by it in connection with the acceptance or administration of this trust
and the performance of its duties hereunder (including the costs and expenses of enforcing this Indenture against the Issuers or any of the Guarantors (including this Section&nbsp;7.07) or defending itself against any claim whether asserted by any
Holder, the Issuers or any Guarantor, or liability in connection with the acceptance, exercise or performance of any of its powers or duties hereunder). The Trustee shall notify the Issuers promptly of any claim for which it may seek indemnity.
Failure by the Trustee to so notify the Issuers shall not relieve the Issuers of its obligations hereunder. The Issuers shall defend the claim and the Trustee may have separate counsel and the Issuers shall pay the reasonable and documented fees and
expenses of such counsel. The Issuers and the Guarantors need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee&#146;s own willful misconduct or negligence. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The obligations of the Issuers under this Section&nbsp;7.07 shall survive the satisfaction and discharge of this Indenture or the earlier
resignation or removal of the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything contrary in Section&nbsp;4.06 hereto, to secure the payment obligations
of the Issuers and the Guarantors in this Section&nbsp;7.07, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes.
Such Lien shall survive the satisfaction and discharge of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">When the Trustee incurs expenses or renders services after an
Event of Default specified in Section&nbsp;6.01(f) or (g)&nbsp;occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any
Bankruptcy Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall comply with the provisions of Trust Indenture Act Section&nbsp;313(b)(2)&nbsp;to the extent applicable.
As used in this Section&nbsp;7.07, the term &#147;Trustee&#148; shall also include each of the Paying Agent, Registrar and Transfer Agent, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.08 <U>Replacement of Trustee</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee&#146;s
acceptance of appointment as provided in this Section&nbsp;7.08. The Trustee may resign in writing at any time and the Registrar, Paying Agent and Transfer Agent may resign with 60&nbsp;days&#146; prior written notice and be discharged from the
trust hereby created by so notifying the Issuers. The Holders of a majority in principal </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the Issuers in writing and may remove the Registrar, Paying Agent or Transfer Agent by so notifying
such Registrar, Paying Agent or Transfer Agent, as applicable, with 90&nbsp;days&#146; prior written notice. The Issuers may remove the Trustee if: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Trustee fails to comply with Section&nbsp;7.10; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) a custodian or public officer takes charge of the Trustee or its property; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Trustee becomes incapable of acting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a successor Trustee does not take office within 60&nbsp;days after the retiring Trustee resigns or is removed, the retiring Trustee (at the
Issuers&#146; expense), the Issuers or the Holders of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee, after written request by any Holder who has been a Holder for at least six&nbsp;months, fails to comply with
Section&nbsp;7.10, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Thereupon, the
resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; <U>provided</U> all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section&nbsp;7.07.
Notwithstanding replacement of the Trustee pursuant to this Section&nbsp;7.08, the Issuers&#146; obligations under Section&nbsp;7.07 shall continue for the benefit of the retiring Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As used in this Section&nbsp;7.08, the term &#147;Trustee&#148; shall also include each of the Paying Agent, Registrar and Transfer Agent, as
applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.09 <U>Successor Trustee by Merger, Etc</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act shall be the successor Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.10 <U>Eligibility; Disqualification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">There shall at all times be a Trustee hereunder that is a corporation or national banking association organized and doing business under the
laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and
surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Indenture shall always have a
Trustee who satisfies the requirements of Trust Indenture Act Sections 310(a)(1), (2)&nbsp;and (5). The Trustee is subject to Trust Indenture Act Section&nbsp;310(b). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.11 <U>Preferential Collection of Claims Against Issuers</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee is subject to Trust Indenture Act Section&nbsp;311(a), excluding any creditor relationship listed in Trust Indenture Act
Section&nbsp;311(b). A Trustee who has resigned or been removed shall be subject to Trust Indenture Act Section&nbsp;311(a)&nbsp;to the extent indicated therein. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 8 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LEGAL DEFEASANCE AND
COVENANT DEFEASANCE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.01 <U>Option to Effect Legal Defeasance or Covenant Defeasance</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may, at their option and at any time, elect to have either Section&nbsp;8.02 or 8.03 applied to all outstanding Notes upon
compliance with the conditions set forth below in this Article&nbsp;8. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.02 <U>Legal Defeasance and Discharge</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers will be deemed to have paid and the Issuers and the Guarantors will be discharged from any and all obligations in respect of the
Notes (including the release of the Subsidiary Guarantees pursuant to Section&nbsp;13.06(c)) on the 90th day after the deposit referred to in clause&nbsp;(a)&nbsp;of this Section&nbsp;8.02, and the provisions of this Indenture will no longer be in
effect with respect to the Notes (except for, among other matters, certain obligations to register the transfer or exchange of the Notes, to replace stolen, lost or mutilated Notes, to maintain paying agencies and to hold monies for payment in
trust) and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging the same if: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) With reference to
this Section&nbsp;8.02, the Issuers have irrevocably deposited or caused to be irrevocably deposited with the Trustee (or another trustee satisfying the requirements of Section&nbsp;7.10) and conveyed all right, title and interest to the Trustee for
the benefit of the Holders, under the terms of an irrevocable trust agreement in form and substance satisfactory to the Trustee as trust funds in trust specifically pledged to the Trustee for the benefit of the Holders as security for payment of the
principal of, premium, if any, and accrued interest on the Notes and dedicated solely to, the benefit of the Holders, in and to (1)&nbsp;money in an </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount, (2)&nbsp;U.S. Government Obligations that through the payment of interest and principal in respect thereof in accordance with their terms, will provide, not later than one day before the
due date of any payment referred to in this clause&nbsp;(a), money in an amount or (3)&nbsp;a combination thereof in an amount sufficient (in the opinion of a nationally recognized firm of independent public accountants, investment bank or appraisal
firm expressed in a written certification thereof delivered to the Trustee, in the case of subclause&nbsp;(2) or (3)&nbsp;of this clause&nbsp;(a)), to pay and discharge, without consideration of the reinvestment of such interest and after payment of
all federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, the principal of, premium, if any, and accrued interest on the outstanding Notes on the Stated Maturity of such principal and interest or
Redemption Date, as applicable; <U>provided</U> that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such U.S. Government Obligations to the payment of such principal, premium, if any, and interest with
respect to the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Issuers have delivered to the Trustee (1)&nbsp;either (x)&nbsp;an Opinion of Counsel to the effect that
Holders will not recognize income, gain or loss for federal income tax purposes as a result of the Issuers&#146; exercise of its option under this Section&nbsp;8.02 and will be subject to federal income tax on the same amount and in the same manner
and at the same times as would have been the case if such deposit, defeasance and discharge had not occurred, which Opinion of Counsel shall be based upon (and accompanied by a copy of) a ruling of the Internal Revenue Service to the same effect
unless there has been a change in applicable federal income tax law after the Closing Date such that a ruling is no longer required or (y)&nbsp;a ruling directed to the Trustee received from the Internal Revenue Service to the same effect as the
aforementioned Opinion of Counsel and (2)&nbsp;an Opinion of Counsel to the effect that the creation of the defeasance trust does not violate the Investment Company Act of 1940 and that after the passage of 90&nbsp;days following the deposit
(except, with respect to any trust funds for the account of any Holder who may be deemed to be an &#147;insider&#148; for purposes of the United States Bankruptcy Code, after one year following the deposit), the trust fund will not be subject to the
effect of Section&nbsp;547 of the United States Bankruptcy Code or Section&nbsp;15 of the New York Debtor and Creditor Law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
immediately after giving effect to such deposit on a <U>pro</U> <U>forma</U> basis, no Default or Event of Default (other than as a result of borrowing funds to make such deposit and the granting of related Liens), shall have occurred and be
continuing on the date of such deposit or during the period ending on the 90th day after the date of such deposit, and such deposit shall not result in a breach or violation of, or constitute a default under, any other material agreement or
instrument to which the Company or any of its Restricted Subsidiaries is a party or by which the Company or any of its Restricted Subsidiaries is bound; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) if at such time the Notes are listed on a national securities exchange, the Issuers have delivered to the Trustee an Opinion of Counsel to
the effect that the Notes will not be delisted as a result of such deposit, defeasance and discharge; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the Issuers have delivered
to the Trustee an Officers&#146; Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein relating to the defeasance contemplated by this Section&nbsp;8.02 have been complied with. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, prior to the end of the 90-day (or one-year) period referred to in
clause&nbsp;(b)(2)&nbsp;of this Section&nbsp;8.02, none of the Issuers&#146; obligations under this Indenture shall be discharged. Subsequent to the end of such 90-day (or one year) period with respect to this Section&nbsp;8.02, the Issuers&#146;
obligations in Sections 2.02, 2.03, 2.04, 2.06, 2.07, 2.12, 4.01, 4.19, 8.05, 8.06 and 8.07 and the rights, powers, trusts, duties and immunities of the Trustee hereunder shall survive until the Notes are no longer outstanding. Thereafter, only the
Issuers&#146; obligations in Sections 7.07, 8.05, 8.06 and 8.07 shall survive. If and when a ruling from the Internal Revenue Service or an Opinion of Counsel referred to in clause&nbsp;(b)(1)&nbsp;of this Section&nbsp;8.02 is able to be provided
specifically without regard to, and not in reliance upon, the continuance of the Issuers&#146; obligations under Section&nbsp;4.01, then the Issuers&#146; obligations under such Section&nbsp;4.01 shall cease upon delivery to the Trustee of such
ruling or Opinion of Counsel and compliance with the other conditions precedent provided for herein relating to the defeasance contemplated by this Section&nbsp;8.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After any such irrevocable deposit, the Trustee upon request shall acknowledge in writing the discharge of the Issuers&#146; obligations under
the Notes and this Indenture except for those surviving obligations in the immediately preceding paragraph. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.03 <U>Covenant
Defeasance</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may omit to comply with any term, provision or condition set forth in clause&nbsp;(3)&nbsp;of
Section&nbsp;5.01(a)&nbsp;and Sections 4.03 through 4.13 and clause (c)&nbsp;of Section&nbsp;6.01 with respect to clause&nbsp;(3)&nbsp;of Section&nbsp;5.01(a), clause&nbsp;(c)&nbsp;of Section&nbsp;6.01 with respect to Section&nbsp;4.03 through 4.19
and clauses (d)&nbsp;and (e)&nbsp;of Section&nbsp;6.01 shall be deemed not to be Events of Default, in each case with respect to the outstanding Notes if: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) with reference to this Section&nbsp;8.03, the Issuers have irrevocably deposited or caused to be irrevocably deposited with the Trustee
(or another trustee satisfying the requirements of Section&nbsp;7.10) and conveyed all right, title and interest to the Trustee for the benefit of the Holders, under the terms of an irrevocable trust agreement in form and substance satisfactory to
the Trustee as trust funds in trust, specifically pledged to the Trustee for the benefit of the Holders as security for payment of the principal of, premium, if any, and interest, if any, on the Notes, and dedicated solely to, the benefit of the
Holders, in and to (1)&nbsp;money in an amount, (2)&nbsp;U.S. Government Obligations that, through the payment of interest, premium, if any, and principal in respect thereof in accordance with their terms, will provide, not later than one day before
the due date of any payment referred to in this clause&nbsp;(a), money in an amount or (3)&nbsp;a combination thereof in an amount sufficient (in the opinion of a nationally recognized firm of independent public accountants, investment bank or
appraisal firm expressed in a written certification thereof delivered to the Trustee, in the case of subclauses&nbsp;(2) or (3)&nbsp;of this clause&nbsp;(a)), to pay and discharge, without consideration of the reinvestment of such interest and after
payment of all federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, the principal of, premium, if any, and accrued interest on the outstanding Notes on the Stated Maturity of such principal or
interest or Redemption Date, as applicable; <U>provided</U> that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such U.S. Government Obligations to the payment of such principal, premium, if any, and
interest with respect to the Notes; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Issuers have delivered to the Trustee an Opinion of Counsel to the effect that
(A)&nbsp;the creation of the defeasance trust does not violate the Investment Company Act of 1940, (B)&nbsp;after the passage of 90&nbsp;days following the deposit (except, with respect to any trust funds for the account of any Holder who may be
deemed to be an &#147;insider&#148; for purposes of the United States Bankruptcy Code, after one year following the deposit), the trust funds will not be subject to the effect of Section&nbsp;547 of the United States Bankruptcy Code or
Section&nbsp;15 of the New York Debtor and Creditor Law, (C)&nbsp;the Holders will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and defeasance of certain covenants and Events of Default and will be
subject to federal income tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred and (D)&nbsp;the Trustee, for the benefit of the Holders, has a valid
first-priority security interest in the trust funds; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) immediately after giving effect to such deposit on a <U>pro</U> <U>forma</U>
basis, no Default or Event of Default (other than as a result of borrowing funds to make such deposit and the granting of related Liens) shall have occurred and be continuing on the date of such deposit or during the period ending on the 90th day
after such date of such deposit, and such deposit shall not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which the Company or any of its Restricted Subsidiaries is
a party or by which the Company or any of its Restricted Subsidiaries is bound; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) if at such time the Notes are listed on a national
securities exchange, the Issuers have delivered to the Trustee an Opinion of Counsel to the effect that the Notes will not be delisted as a result of such deposit, defeasance and discharge; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the Issuers have delivered to the Trustee an Officers&#146; Certificate and an Opinion of Counsel, in each case stating that all
conditions precedent provided for herein relating to the defeasance contemplated by this Section&nbsp;8.03 have been complied with. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.04 <U>Reserved</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.05 <U>Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Section&nbsp;8.06, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other
qualifying trustee, collectively for purposes of this Section&nbsp;8.05, the &#147;<U>Trustee</U>&#148;) pursuant to Section&nbsp;8.02 or 8.03 in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with
the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuers or a Guarantor acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and
to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay and indemnify the Trustee against any tax, fee or other charge imposed on or assessed against the cash or U.S.
Government Obligations deposited pursuant to Section&nbsp;8.02 or 8.03 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the Holders of the outstanding Notes.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Anything in this Article&nbsp;8 to the contrary notwithstanding, the Trustee shall deliver or pay
to the Issuers from time to time upon the written request of the Issuers any money or U.S. Government Obligations held by it as provided in Section&nbsp;8.02 or 8.03 which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent defeasance pursuant to Section&nbsp;8.02 or 8.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.06 <U>Repayment to Issuers</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any money deposited with the Trustee or any Paying Agent, or then held by the Issuers, in trust for the payment of the principal of, premium,
if any, or interest on any Note and remaining unclaimed for two years after such principal, premium, if any, and interest has become due and payable shall be paid to the Issuers on their request or (if then held by the Issuers) shall be discharged
from such trust; and the Holder of such Note shall thereafter look only to the Issuers for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Issuers as trustee thereof,
shall thereupon cease. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.07 <U>Reinstatement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee or Paying Agent is unable to apply any U.S. dollars or U.S. Government Obligations in accordance with Section&nbsp;8.02, 8.03
or 8.05, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuers&#146; obligations under this Indenture and the Notes shall be
revived and reinstated as though no deposit had occurred pursuant to Section&nbsp;8.02, 8.03 or 8.05 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section&nbsp;8.02, 8.03 or 8.05, as the case
may be; <U>provided</U> that, if the Issuers make any payment of principal of, premium, if any, or interest on any Note following the reinstatement of their obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to
receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 9 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AMENDMENT, SUPPLEMENT AND WAIVER </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.01 <U>Without Consent of Holders of Notes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding Section&nbsp;9.02, the Issuers, any Guarantor, any other obligor under the Notes and the Trustee or Collateral Agent, as
applicable, may amend or supplement this Indenture, any Subsidiary Guarantee, any Security Document or Notes without the consent of any Holder to: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) cure any ambiguity, defect, mistake or inconsistency in this Indenture, the Notes, any Subsidiary Guarantee or any Security Document; </P>

 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) comply with the provisions of Article&nbsp;5 or Section&nbsp;4.08; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) comply with any requirements of the SEC in connection with the qualification of this Indenture under the Trust Indenture Act; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) evidence and provide for the acceptance of appointment by a successor Trustee or Collateral Agent under this Indenture or the Security
Documents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) make any other provisions with respect to matters or questions arising under this Indenture, the Notes, any Subsidiary
Guarantee or any Security Document; <U>provided</U> that, in each case, such provisions, shall not materially adversely affect the interests of the Holders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) provide for the issuance of Additional Notes in accordance with this Indenture; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) add to the Collateral securing the Notes or to add a Guarantor under this Indenture; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) provide for uncertificated Notes in addition to or in replacement of certificated Notes; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) conform the text of this Indenture, the Notes, the Subsidiary Guarantees or the Security Documents to any provision of the
&#147;Description of the Notes&#148; contained in the Offering Memorandum as evidenced in an Officers&#146; Certificate; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) mortgage,
pledge, hypothecate or grant a Lien in favor of the Collateral Agent for the benefit of the Holders (and the holders or lenders of ABL Liens or Permitted Additional Pari Passu Obligations) as additional security or Collateral for the payment and
performance of the Issuers&#146; and any Guarantor&#146;s obligations under this Indenture, in any property, or assets, including any of which are required to be mortgaged, pledged or hypothecated, or in which a security interest is required to be
granted to or for the benefit of the Trustee or the Collateral Agent pursuant to this Indenture, any of the Security Documents or otherwise; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) provide for the release of Collateral from the Note Lien and the Security Documents when permitted or required by any of the Security
Documents, the Intercreditor Agreement or this Indenture; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) secure any Permitted Additional Pari Passu Obligations under the
Security Documents and to appropriately include the same in the Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.02 <U>With Consent of Holders of
Notes</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections 6.04 and 6.07, the Issuers, any Guarantor, any other obligor under the Notes, and the Trustee or
Collateral Agent, as applicable, may amend or supplement this Indenture, the Notes, any Subsidiary Guarantee and any Security Document with the written consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(including Additional Notes, if any) voting as a single class, and future compliance by the Issuers and each Guarantor party thereto, if applicable, with any provision of this Indenture, any
Subsidiary Guarantee, any Security Document or the Notes may be waived with the consent of the Holders of a majority in principal amount of the then outstanding Notes (including Additional Notes, if any) voting as a single class. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;9.02, without the consent of each Holder of each outstanding Note affected, an amendment
or waiver may not: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) change the Stated Maturity of the principal of, or any installment of interest on, any Note; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) reduce the principal amount of, or premium, if any, or interest on, any Note; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) change the optional redemption dates or optional redemption prices of the Notes from that stated under Section&nbsp;3.07; <U>provided</U>,
<U>however</U>, that the minimum number of&nbsp;days of notice of redemption that the Company must provide may be shortened with the consent of the Holders of not less than a majority in aggregate principal amount of the outstanding Notes; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) change the place or currency of payment of principal of, or premium, if any, or interest on, any Note; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) impair the right to institute suit for the enforcement of any payment on or after the Stated Maturity (or, in the case of a redemption, on
or after the Redemption Date) of any Note; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) release any Subsidiary Guarantee of a Significant Subsidiary except in compliance with the
terms of this Indenture, the Security Documents or the Intercreditor Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) amend or modify any of the provisions of this
Indenture in any manner that subordinates the Notes issued thereunder in right of payment to any other Indebtedness of the Issuers or that subordinates any Subsidiary Guarantee in right of payment to any other Indebtedness of the Guarantor issuing
any such Subsidiary Guarantee; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) waive a default in the payment of principal of, premium, if any, or interest on the Notes; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) reduce the percentage or aggregate principal amount of outstanding Notes the consent of whose Holders is necessary for waiver of
compliance with certain provisions of this Indenture or for waiver of certain defaults. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, any amendment to, or waiver of, the
provisions of this Indenture or any Security Document that has the effect of releasing all or substantially all of the Collateral from the Note Liens will require consent of the Holders of at least 75% in aggregate principal amount of the Notes then
outstanding (including consents obtained in connection with a tender offer or exchange offer for the Notes). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment, supplement or waiver under this Section&nbsp;9.02 becomes effective, the
Issuers shall mail to the Holders of Notes affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuers to mail such notice, or any defect therein, shall not, however, in any way impair or affect the
validity of any such amended or supplemental indenture or waiver. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.03 <U>Reserved</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.04 <U>Effect of Consents</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder; <U>provided</U> that any
amendment or waiver that requires the consent of each affected Holder shall not become effective with respect to any <FONT STYLE="white-space:nowrap">non-consenting</FONT> Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any
amendment, supplement or waiver. If a record date is fixed, then, notwithstanding the preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only such Persons, shall be entitled to consent to
such amendment, supplement or waiver, whether or not such Persons continue to be Holders after such record date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.05
<U>Notation on or Exchange of Notes</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may place an appropriate notation about an amendment, supplement or waiver on any
Note thereafter authenticated. The Issuers in exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.06 <U>Trustee to Sign Amendments, Etc</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article&nbsp;9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuers may not sign an amendment, supplement or waiver until the Board of Directors of the Company approves it. In executing any amendment, supplement or waiver, the
Trustee shall receive and (subject to Section&nbsp;7.01) shall be fully protected in conclusively relying upon, in addition to the documents required by Section&nbsp;15.03, an Officers&#146; Certificate and an Opinion of Counsel stating that the
execution of such amended or supplemental indenture is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuers and any Guarantors party thereto, enforceable
against them in accordance with its terms, subject to customary exceptions, and complies with the provisions hereof. Notwithstanding the foregoing, no Opinion of Counsel will be required for the Trustee to execute any amendment or supplement adding
a new Guarantor under this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">It shall not be necessary for the consent of the Holders of Notes under this Article&nbsp;9 to
approve the particular form of any proposed amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. The consent of the Collateral Agent shall not be necessary for any amendment, supplement or waiver to this
Indenture, except for any amendment, supplement or waiver to Article&nbsp;10 or 11 or as to this sentence. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 10 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INTERCREDITOR AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.01 <U>Intercreditor Agreement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Holder by accepting a Note agrees that the Note Liens are subject to the terms of the Intercreditor Agreement. The Holders by accepting a
Note hereby authorize the Trustee and the Collateral Agent to enter into the Intercreditor Agreement on behalf of the Holders and agree that the Holders shall comply with the provisions of the Intercreditor Agreement applicable to them in their
capacities as such to the same extent as if the Holders were parties thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Additionally, <U>provided</U> that no Event of Default has
occurred and is continuing, the Trustee shall, upon written request of the Issuers enter into and direct the Collateral Agent to enter into amendments to the Intercreditor Agreement or an additional intercreditor agreement with the agent for the
holders of any ABL Obligations and, prior to the Discharge of the Rexam Obligations, Rexam on terms and conditions that are&nbsp;not less favorable, taken as a whole, to the Holders of Notes than the terms of the Intercreditor Agreement and
thereafter such amended or new intercreditor agreement shall be deemed to be the Intercreditor Agreement for all purposes of this Indenture. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 11 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COLLATERAL </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.01 <U>Security Documents</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Indenture Obligations are secured as provided in the Security Documents and will be secured by Security Documents hereafter. The Issuers
shall, and shall cause each Guarantor to, and each Guarantor shall, make or cause to be made all filings (including filings of continuation statements and amendments to UCC financing statements that may be necessary to continue the effectiveness of
such UCC financing statements) necessary to maintain (at the sole cost and expense of the Issuers and the Guarantors) the security interest created by the Security Documents in the Collateral as a perfected security interest to the extent perfection
is required by the Security Documents, subject only to Permitted Liens. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.02 <U>Collateral Agent</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Collateral Agent shall have all the rights and protections provided in the Security Documents and, additionally, shall have all the
rights and protections provided to the &#147;Trustee&#148; under Article&nbsp;7. Each Holder, by its acceptance thereof, consents and agrees to the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
terms of the Security Documents as the same may be in effect or may be amended, amended and restated, modified, renewed, restated or replaced from time to time in accordance with their terms and
authorizes and appoints Wells Fargo Bank, National Association as the Collateral Agent. The Trustee hereby authorizes and appoints Wells Fargo Bank, National Association as Collateral Agent. Each of the Holders and the Trustee directs the Collateral
Agent to enter into the Security Documents and to perform its obligations and exercise its rights thereunder in accordance therewith and to exercise such powers as are delegated to the Trustee and Collateral Agent by the terms hereof and thereof,
together with such actions and powers as are reasonably incidental thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Subject to Section&nbsp;7.01, none of the Collateral
Agent, Trustee, Paying Agent, Registrar or Transfer Agent nor any of their respective officers, directors, employees, attorneys or agents will be responsible or liable for the existence, genuineness, value or protection of any Collateral, for the
legality, enforceability, effectiveness or sufficiency of the Security Documents, for the creation, perfection, priority, sufficiency or protection of any Note Liens, or any defect or deficiency as to any such matters. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Except as required or permitted by the Security Documents, each Holder, by accepting a Note, acknowledges that the Collateral Agent will
not be obligated: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to act upon directions purported to be delivered to it by any Person, except in accordance with the
Security Documents; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to foreclose upon or otherwise enforce any Note Lien; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to take any other action whatsoever with regard to any or all of the Note Liens, Security Documents or Collateral. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.03 <U>Authorization of Actions to Be Taken</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Holder, by its acceptance thereof, consents and agrees to the terms of each Security Document, as originally in effect and as may be
amended, supplemented or replaced from time to time in accordance with its terms or the terms of this Indenture, authorizes and directs the Collateral Agent to enter into the Security Documents to which it is, or is to be, a party, authorizes and
empowers the Collateral Agent to execute and deliver the Intercreditor Agreement and authorizes and empowers the Collateral Agent to bind the Holders as set forth in the Security Documents to which the Collateral Agent is a party and the
Intercreditor Agreement and to perform its obligations and exercise its rights and powers thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Trustee is authorized and
empowered to receive for the benefit of the Holders any funds collected or distributed to the Collateral Agent under the Security Documents to which the Trustee is a party and, subject to the terms of the Security Documents, to make further
distributions of such funds to the Holders of Notes according to the provisions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Subject to the provisions of
Section&nbsp;7.01, Section&nbsp;7.02 and the Security Documents, the Trustee may, but shall not be obligated, in its sole discretion and without the consent of the Holders, to direct, on behalf of the Holders, the Collateral Agent to take all
actions it deems necessary or appropriate in order to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) foreclose upon or otherwise enforce any or all of the Note
Liens; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) enforce any of the terms of the Security Documents to which the Collateral
Agent is a party; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) collect and receive payment of any and all Indenture Obligations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the Intercreditor Agreement and at the Issuers&#146; sole cost and expense, the Trustee is hereby authorized and empowered by each
Holder (by its acceptance thereof) to institute and maintain, or direct the Collateral Agent to institute and maintain, such suits and proceedings as it may deem reasonably expedient to protect or enforce the Note Liens or the Security Documents to
which the Collateral Agent or Trustee is a party or to prevent any impairment of Collateral by any acts that may be unlawful or in violation of the Security Documents or this Indenture, and such suits and proceedings as the Trustee may deem
reasonably expedient, at the Issuers&#146; sole cost and expense, to preserve or protect its interests and the interests of the Holders of Notes in the Collateral, including power to institute and maintain suits or proceedings to restrain the
enforcement of or compliance with any legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with, such enactment, rule or order would impair the Note Liens
or be prejudicial to the interests of Holders or the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.04 <U>Release of Collateral</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Collateral may be released from the Lien and security interest created by the Security Documents at any time or from time to time in
accordance with the provisions of the Security Documents and the Intercreditor Agreement. In addition, the Issuers and the Guarantors will be entitled to the release of assets included in the Collateral from the Note Liens, and the Trustee shall
(or, if the Trustee is not then the Collateral Agent, the Trustee shall direct the Collateral Agent to) release the same from the Note Liens at the Issuers&#146; sole cost and expense upon receipt of an Officer&#146;s Certificate and Opinion of
Counsel, under any one or more of the following circumstances without the need for any further action by any Person: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) in whole or in
part, as applicable, as to all or any portion of property subject to such Note Liens which has been taken by eminent domain, condemnation or other similar circumstances; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) in whole upon: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) satisfaction and discharge of this Indenture in accordance with Article&nbsp;14; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) legal defeasance or covenant defeasance of this Indenture in accordance with Article&nbsp;8; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) in part, as to any property that (a)&nbsp;is sold, transferred or otherwise disposed of by an
Issuer or any Guarantor (other than to an Issuer or another Guarantor) in a transaction not prohibited by this Indenture at the time of such sale, transfer or disposition or (b)&nbsp;is owned or at any time acquired by a Guarantor that has been
released from its Subsidiary Guarantee pursuant to Section&nbsp;13.06 concurrently with the release of such Subsidiary Guarantee; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) as
to property that constitutes all or substantially all of the Collateral securing the Notes, with the consent of Holders of at least 75% in aggregate principal amount of the Notes then outstanding; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) as to property that constitutes less than all or substantially all of the Collateral securing the Notes, with the consent of the Holders
of at least a majority in aggregate principal amount of the Notes then outstanding; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) in part, in accordance with the applicable
provisions of the Security Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.05 <U>Reserved</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.06 <U>Powers Exercisable by Receiver or Trustee</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case the Collateral shall be in the possession of a receiver or trustee, lawfully appointed, the powers conferred in this Article&nbsp;11
upon the Issuers or a Guarantor with respect to the release, sale or other disposition of such property may be exercised by such receiver or trustee, and an instrument signed by such receiver or trustee shall be deemed the equivalent of any similar
instrument of the Issuers or a Guarantor or of any officer or officers thereof required by the provisions of this Article&nbsp;11; and if the Trustee or the Collateral Agent shall be in the possession of the Collateral under any provision of this
Indenture, then such powers may be exercised by the Trustee or the Collateral Agent, as the case may be. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.07
<U>Voting</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In connection with any matter under the Security Agreement requiring a vote of holders of Secured Obligations (as defined
in the Security Agreement), the holders of such Secured Obligations shall be treated as a single class and the Holders shall cast their votes in accordance with this Indenture. The amount of the Notes to be voted by the Holders will equal the
aggregate outstanding principal amount of the Notes. Following and in accordance with the outcome of the applicable vote under this Indenture, the Trustee shall vote the total amount of the Notes as a block in respect of any vote under the Security
Agreement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 12 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">APPLICATION OF TRUST MONIES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.01 <U>Collateral Account</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No later than 30&nbsp;days following the first date on which the Issuers or any Guarantor receives any Trust Monies, there shall be
established and, at all times thereafter until </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
this Indenture shall have terminated, there shall be maintained with the Collateral Agent the Collateral Account. The Collateral Account shall be established and maintained by the Collateral
Agent at the office of the Collateral Agent. For the avoidance of doubt, no other deposit account or securities account shall be, or shall be deemed to be, the Collateral Account, and Trust Monies shall include only cash and cash equivalents
required to be deposited into the Collateral Account pursuant to the terms of this Indenture. The Issuers shall cause all Trust Monies to be deposited in the Collateral Account and any such Trust Monies shall be held by and under the dominion and
control of the Collateral Agent for its benefit and for the benefit of the Secured Parties (as defined in the Security Agreement) as a part of the Collateral until released in accordance with this Article&nbsp;12. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.02 <U>Withdrawal of Net Cash Proceeds in Connection with Reinvestments</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To the extent that any Trust Monies consist of Net Cash Proceeds of an Asset Sale, such Trust Monies may be withdrawn by the Issuers and shall
be paid by the Collateral Agent (upon the direction of the Trustee) to reimburse the Issuers or Guarantor for expenditures made, or to pay costs to be incurred, by the Issuers or such Guarantor in connection with a reinvestment of such Net Cash
Proceeds or repayment of Indebtedness with such Net Cash Proceeds, in each case complying with Section&nbsp;4.07, upon receipt by the Trustee and the Collateral Agent of the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) An Officers&#146; Certificate, dated not more than 30&nbsp;days prior to the date of the application for the withdrawal and payment of
such Trust Monies to the effect that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) such Net Cash Proceeds have been (or will be within thirty (30)&nbsp;Business
Days of the requested date of release) applied in compliance with the requirements of Section&nbsp;4.07; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) to the
extent required by Section&nbsp;4.07, the Issuers have taken (or will take not later than thirty (30)&nbsp;Business Days following the application of such Net Cash Proceeds) all steps, if any, required by the Security Documents in order to grant
and/or perfect the security interest of the Collateral Agent in any assets in which such Net Cash Proceeds have been reinvested (which Officers&#146; Certificate shall attach copies of (or forms of) any additional Security Documents or amendments
thereto or filings thereunder, if any, required to comply with the Security Documents and Section&nbsp;4.07). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon compliance with
the foregoing provisions of this Section&nbsp;12.02, the Collateral Agent shall, upon receipt of a written request by the Company (which may be contained in the Officers&#146; Certificate), pay an amount of Net Cash Proceeds constituting Trust
Monies equal to the amount specified in the Officers&#146; Certificate required by clause&nbsp;(a)&nbsp;of this Section&nbsp;12.02 as directed by the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.03 <U>Withdrawal of Net Cash Proceeds to Fund an Offer to Purchase or Release Following an Offer to Purchase</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To the extent that any Trust Monies consist of Net Cash Proceeds received by the Collateral Agent pursuant to the provisions of
Section&nbsp;4.07 and an Offer to Purchase has been </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
made in accordance therewith, such Trust Monies may be withdrawn by the Issuers and shall be paid by the Trustee to the Paying Agent for application in accordance with Section&nbsp;4.07 upon
receipt by the Trustee and the Collateral Agent of the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) An Officers&#146; Certificate, dated not more than ten
(10)&nbsp;days prior to the Payment Date, setting forth the amount of Excess Proceeds subject to the Offer to Purchase and the date on which Notes and any Permitted Additional Pari Passu Obligations are to be purchased, and to the effect that: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (x) such Trust Monies constitute Net Cash Proceeds and (y)&nbsp;pursuant to and in accordance with Section&nbsp;4.07, the
Issuers have made an Offer to Purchase; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) all conditions precedent and covenants herein provided for such
application of Trust Monies have been satisfied. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon compliance with the foregoing provisions of this Section&nbsp;12.03, the
Collateral Agent shall apply the Trust Monies as directed and specified by the Issuers, subject to Section&nbsp;4.07 (including to return to the Issuers any such amount of Excess Proceeds that is subject to the Offer to Purchase and which is not
required to be applied to the purchase of Notes, Permitted Additional Pari Passu Obligations or other Indebtedness pursuant to Section&nbsp;4.07). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.04 <U>Investment of Trust Monies</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">So long as no Default or Event of Default shall have occurred and be continuing, all or any part of any Trust Monies held by (or held in an
account subject to the sole control of) the Collateral Agent shall from time to time be invested or reinvested by the Collateral Agent in any Temporary Cash Investments pursuant to a written request by the Company in the form of an Officers&#146;
Certificate, which shall specify the Temporary Cash Investments in which such Trust Monies shall be invested and shall certify that such investments constitute Temporary Cash Investments; and the Collateral Agent shall sell any such Temporary Cash
Investment only upon receipt of such a written request by the Company specifying the particular Temporary Cash Investment to be sold. So long as no Default or Event of Default occurs and is continuing, any interest or dividends accrued, earned or
paid on such Temporary Cash Investments (in excess of any accrued interest or dividends paid at the time of purchase) that may be received by the Collateral Agent shall be forthwith paid to the Issuers. Such Temporary Cash Investments shall be held
by the Collateral Agent as a part of the Collateral, subject to the same provisions hereof as the cash used by it to purchase such Temporary Cash Investments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee and Collateral Agent shall not be liable or responsible for any loss, fee, tax or other charge resulting from such investments,
reinvestments or sales except only for its own negligent action, its own negligent failure to act or its own willful misconduct in complying with this Section&nbsp;12.04. Absent receipt of a written request from the Company, the Trust Monies shall
remain uninvested. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.05 <U>Application of Other Trust Monies</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Collateral Agent shall return all Trust Monies to the Issuers upon any legal defeasance, covenant defeasance or satisfaction and discharge
of this Indenture under Section&nbsp;14.01. The Collateral Agent shall have all rights and remedies with respect to the Collateral Account and any Trust Monies as provided in the Security Documents. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 13 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">GUARANTEES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.01 <U>Guarantee</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to this Article&nbsp;13, each of the Guarantors hereby, jointly and severally, Guarantees to each Holder of a Note authenticated and
delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity and enforceability of this Indenture, the Notes or the obligations of the Issuers hereunder or thereunder, that: (a)&nbsp;the principal of,
interest, premium, if any, on the Notes shall be promptly paid in full when due, whether at maturity, by acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other
obligations of the Issuers to the Holders or the Trustee hereunder or thereunder shall be promptly paid in full or performed, all in accordance with the terms hereof and thereof; and (b)&nbsp;in case of any extension of time of payment or renewal of
any Notes or any of such other obligations, that same shall be promptly paid in full when due or performed in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise. Failing payment when due
of any amount so Guaranteed or any performance so Guaranteed for whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor agrees that this is a Guarantee of payment and not a Guarantee of
collection. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Guarantors hereby agree that their obligations hereunder shall be unconditional, irrespective of the validity, regularity
or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Issuers, any
action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor hereby waives diligence, presentment, demand of payment, filing of claims with a court in
the event of insolvency or bankruptcy of the Issuers, any right to require a proceeding first against the Issuers, protest, notice and all demands whatsoever and covenants that its Subsidiary Guarantee shall not be discharged except by complete
performance of the obligations contained in the Notes and this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor also agrees to pay any and all costs and
expenses (including reasonable attorneys&#146; fees and expenses) incurred by the Trustee or any Holder in enforcing any rights under this Section&nbsp;13.01. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor further agrees that, as between the Guarantors, on the one hand, and the Holders and the Trustee, on the other hand,
(x)&nbsp;the maturity of the obligations </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Guaranteed hereby may be accelerated as provided in Article&nbsp;6 for the purposes of its Subsidiary Guarantee, notwithstanding any stay, injunction or other prohibition preventing such
acceleration in respect of the obligations Guaranteed hereby, and (y)&nbsp;in the event of any declaration of acceleration of such obligations as provided in Article&nbsp;6, such obligations (whether or not due and payable) shall forthwith become
due and payable by the Guarantors for the purpose of such Subsidiary Guarantees. The Guarantors shall have the right to seek contribution from any non-paying Guarantor so long as the exercise of such right does not impair the rights of the Holders
under the Subsidiary Guarantees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Subsidiary Guarantee shall remain in full force and effect and continue to be effective should any
petition be filed by or against the Issuers for liquidation or reorganization, should the Issuers become insolvent or make an assignment for the benefit of creditors or should a receiver or trustee be appointed for all or any significant part of the
Issuers&#146; assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Notes are, pursuant to applicable law, rescinded or reduced in
amount, or must otherwise be restored or returned by any obligee on the Notes or Subsidiary Guarantees, whether as a &#147;voidable preference,&#148; &#147;fraudulent transfer&#148; or otherwise, all as though such payment or performance had not
been made. In the event that any payment or any part thereof is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent permitted by law, be reinstated and deemed reduced only by such amount paid and not so rescinded,
reduced, restored or returned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case any provision of any Subsidiary Guarantee shall be invalid, illegal or unenforceable, the
validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each payment to
be made by a Guarantor in respect of its Subsidiary Guarantee shall be made without set-off, counterclaim, reduction or diminution of any kind or nature. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As used in this Section&nbsp;13.01, the term &#147;Trustee&#148; shall also include each of the Paying Agent, Registrar and Transfer Agent, as
applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.02 <U>Limitation on Guarantor Liability</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor, and by its acceptance of Notes, each Holder, hereby confirms that it is the intention of all such parties that the Subsidiary
Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to
such Subsidiary Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and the Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be limited to the maximum amount as will, after giving effect to such
maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws and after giving effect to any collections from, rights to receive contribution from or payments made by or on behalf of any other
Guarantor in respect of the obligations of such other Guarantor under this Article&nbsp;13, result in the obligations of such Guarantor under its Subsidiary Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable
law. Each Guarantor that makes a payment under its Subsidiary Guarantee shall be entitled upon </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
payment in full of all Guaranteed obligations under this Indenture to a contribution from each other Guarantor in an amount equal to such other Guarantor&#146;s <U>pro rata</U> portion of such
payment based on the respective net assets of all the Guarantors at the time of such payment determined in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.03 <U>Execution and Delivery</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To evidence its Subsidiary Guarantee set forth in Section&nbsp;13.01, each Guarantor hereby agrees that this Indenture shall be executed on
behalf of such Guarantor by the Chief Executive Officer, the President, the Chief Financial Officer, the Treasurer, the Controller, any Executive Vice President, any Senior Vice President, any Vice President, the Secretary or any Assistant Secretary
of the Guarantor or the sole member of the Guarantor, as the case may be, or any other officers of such Guarantor or such sole member, as the case may be, acting at the direction of any such foregoing officer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on this Indenture no longer holds that office at the time the Trustee authenticates a Note, the Subsidiary
Guarantee shall be valid nevertheless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the related Subsidiary Guarantee set forth in this Indenture on behalf of the Guarantors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">None of the Issuers
or the Guarantors shall be required to make a notation on any Note to reflect a Subsidiary Guarantee or any release, termination or discharge thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.04 <U>Subrogation</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor shall be subrogated to all rights of Holders of Notes against the Issuers in respect of any amounts paid by any Guarantor
pursuant to the provisions of Section&nbsp;13.01; <U>provided</U> that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation
until all amounts then due and payable by the Issuers under this Indenture or the Notes shall have been paid in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.05
<U>Benefits Acknowledged</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing
arrangements contemplated by this Indenture and that the Guarantee and waivers made by it pursuant to its Subsidiary Guarantee are knowingly made in contemplation of such benefits. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;13.06 <U>Release of Guarantees</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding any other provision of this Indenture, any Subsidiary Guarantee (and all Liens securing the same and such Restricted
Subsidiary&#146;s obligations under the other Senior Secured Note Documents) shall be automatically and unconditionally released and discharged without any act on the part of any Person upon: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) such Subsidiary ceasing to be a Restricted Subsidiary, or any sale, exchange or transfer, to any Person that is not a Restricted
Subsidiary of the Company, of all of the Equity Interests in (including through merger or consolidation), or all or substantially all the assets of, such Restricted Subsidiary (which sale, exchange or transfer is not prohibited by this Indenture) or
the designation of such Restricted Subsidiary as an Unrestricted Subsidiary, in each case, in accordance with the terms of this Indenture; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the release or discharge of the Guarantee that resulted in the creation of such Subsidiary
Guarantee, except a discharge or release by or as a result of payment under such Guarantee; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the exercise by the Issuers of their
legal defeasance or covenant defeasance option as described under Article&nbsp;8 or if the Issuers&#146; obligations under this Indenture are discharged in accordance with Article&nbsp;14. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 14 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SATISFACTION AND
DISCHARGE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.01 <U>Satisfaction and Discharge</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in this Section&nbsp;14.01, the Issuers may terminate their obligations under the Notes and this Indenture if:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) all Notes previously authenticated and delivered (other than destroyed, lost or stolen Notes that have been replaced or Notes that
are paid pursuant to Section&nbsp;4.01 or Notes for whose payment money or securities have theretofore been held in trust and thereafter repaid to the Issuers, as provided in Section&nbsp;8.06) have been delivered to the Trustee for cancellation and
the Issuers have paid all sums payable by them hereunder; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) (A)&nbsp;the Notes mature within one year or all of them are to be
called for redemption within one year under arrangements satisfactory to the Trustee for giving the notice of redemption, (B)&nbsp;the Issuers irrevocably deposit in trust with the Trustee during such one-year period, under the terms of an
irrevocable trust agreement in form and substance satisfactory to the Trustee, as trust funds solely for the benefit of the Holders for that purpose, money or U.S. Government Obligations, or a combination of both, sufficient (in the opinion of a
nationally recognized firm of independent public accountants, investment bank or appraisal firm expressed in a written certification thereof delivered to the Trustee, in the case of U.S. Government Obligations or a combination of money and U.S.
Government Obligations), without consideration of any reinvestment of any interest thereon, to pay principal, premium, if, any, and interest on the Notes to maturity or redemption, as the case may be, and to pay all other sums payable by it
hereunder, (C)&nbsp;no Default or Event of Default with respect to the Notes shall have occurred and be continuing on the date of such deposit, (D)&nbsp;such deposit will not result in a breach or violation of, or constitute a default under, this
Indenture or any other material agreement or instrument to which the Issuers are a party or by which any of them is bound and (E)&nbsp;the Issuers have delivered to the Trustee an Officers&#146; Certificate and an Opinion of Counsel, in each case
stating that all conditions precedent provided for herein relating to the satisfaction and discharge of this Indenture have been complied with. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">With respect to the foregoing clause&nbsp;(a), the Issuers&#146; obligations under
Section&nbsp;7.07 shall survive. With respect to the foregoing clause&nbsp;(b), the Issuers&#146; obligations in Sections 2.02, 2.03, 2.04, 2.06, 2.07, 2.12, 4.01, 4.19, 7.07, 7.08, 8.05, 8.06 and 8.07 shall survive until the Notes are no longer
outstanding. Thereafter, only the Company&#146;s obligations in Sections 7.07, 8.05, 8.06 and 8.07 shall survive. After any such irrevocable deposit, the Trustee upon request shall acknowledge in writing the discharge of the Issuers&#146;
obligations under the Notes and this Indenture except for those surviving obligations specified above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;14.02 <U>Application
of Trust Money</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;8.06, all money or U.S. Government Obligations deposited with the Trustee
pursuant to Section&nbsp;14.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuers or any Guarantor acting as
Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds
except to the extent required by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in
accordance with Section&nbsp;14.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuers&#146; and any
Guarantor&#146;s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section&nbsp;14.01; <U>provided</U> that if the Issuers have made any payment of principal of, premium, if
any, or interest on any Notes because of the reinstatement of their obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or
Paying Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 15 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MISCELLANEOUS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.01 <U>Notices</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any notice or communication by the Issuers, any Guarantor, the Collateral Agent or the Trustee to the others is duly given if in writing and
delivered in person or mailed by <FONT STYLE="white-space:nowrap">first-class</FONT> mail (registered or certified, return receipt requested), electronic delivery, fax or overnight air courier guaranteeing next day delivery, to the others&#146;
address: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If to the Issuers and/or any Guarantor: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">c/o Wise Metals Group LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">4805
Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Muscle Shoals, Alabama 35661 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile: (256)&nbsp;386-6980 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Robert Ericson </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Email:
rericson@wisemetals.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Winston&nbsp;&amp; Strawn LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">35
W. Wacker Drive </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Chicago, Illinois 60601 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile: (312)&nbsp;558-5700 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Bruce A. Toth, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:16%; font-size:10pt; font-family:Times New Roman">Erin G. Stone, Esq. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Email:
btoth@winston.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&nbsp;estone@winston.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If to the Trustee: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Wells Fargo
Bank, National Association </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Corporate Trust Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">7000 Central Parkway NE, Suite 550 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Atlanta, Georgia 30328 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile: (770)&nbsp;551-5118 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Email: stefan.victory@wellsfargo.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">If to the Collateral Agent: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Wells Fargo Bank, National Association </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Corporate Trust Services </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">7000 Central Parkway NE, Suite 550 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Atlanta, Georgia 30328 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile: (770)&nbsp;551-5118 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Email: stefan.victory@wellsfargo.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers, any Guarantor, the Trustee or the Collateral Agent, by notice to the others, may designate additional or different addresses for
subsequent notices or communications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All notices and communications (other than those sent to Holders) shall be deemed to have been duly
given: as of the date so delivered if delivered electronically, in PDF format; at the time delivered by hand, if personally delivered; five calendar&nbsp;days after being deposited in the mail, postage prepaid, if mailed by first-class mail; when
receipt acknowledged, if faxed; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery; <U>provided</U> that any notice or communication delivered to the Trustee shall be
deemed effective upon actual receipt thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any notice or communication to a Holder shall be sent electronically, mailed by first-class
mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Failure to send a notice or communication to a Holder or any defect in it
shall not affect its sufficiency with respect to other Holders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuers send a notice or communication to Holders, it shall send a copy to the Trustee and
each Agent at the same time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.02 <U>Business Days</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a payment date, delivery date or date of performance is not a Business Day, such payment, delivery or performance may be made on the next
succeeding day that is a Business Day. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.03 <U>Communication by Holders of Notes with Other Holders of Notes</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Holders may communicate pursuant to Trust Indenture Act Section&nbsp;312(b)&nbsp;with other Holders with respect to their rights under this
Indenture or the Notes. The Issuers, the Trustee, the Registrar and anyone else shall have the protection of Trust Indenture Act Section&nbsp;312(c). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.04 <U>Certificate and Opinion as to Conditions Precedent</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise stated in this Indenture, upon any request or application by the Issuers or any of the Guarantors to the Trustee to take
any action under this Indenture, the Issuers or such Guarantor, as the case may be, shall furnish to the Trustee: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) an Officers&#146;
Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section&nbsp;15.05) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been satisfied; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) an Opinion of Counsel in form and substance reasonably
satisfactory to the Trustee (which shall include the statements set forth in Section&nbsp;15.05) stating that, in the opinion of such counsel, all such conditions precedent and covenants (if any) have been satisfied; <U>provided</U> that no such
Opinion of Counsel shall be required in connection with the order of the Issuers to authenticate and deliver the Notes in the aggregate principal amount of $650,000,000 on the Closing Date pursuant to Section&nbsp;2.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.05 <U>Statements Required in Certificate or Opinion</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each certificate or opinion with respect to compliance with a condition or covenant if any provided for in this Indenture (other than a
certificate provided pursuant to Section&nbsp;4.17 shall include: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) a statement that the Person making such certificate or opinion has
read such covenant or condition if any; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) a brief statement as to the nature and scope of the examination or investigation upon which
the statements or opinions contained in such certificate or opinion are based; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) a statement that, in the opinion of such Person, he or
she has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition if any has been complied with (and, in the case of an Opinion of Counsel, may be limited to
reliance on an Officers&#146; Certificate as to matters of fact); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) a statement as to whether or not, in the opinion of such
Person, such condition or covenant if any has been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.06 <U>Rules by Trustee and Agents</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and
set reasonable requirements for its functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.07 <U>No Personal Liability of Incorporators, Stockholders, Officers,
Directors, Employees or Controlling Persons</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No recourse for the payment of the principal of, premium, if any, or interest on any of
the Notes or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Issuers or any Guarantor in this Indenture, or in any of the Notes or because of the creation of any
Indebtedness represented thereby, shall be had against any incorporator, stockholder, officer, director, employee or controlling person of the Issuers or any Guarantor or of any successor Person thereof. Each Holder, by accepting the Notes, waives
and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.08 <U>Governing Law; Waiver of Jury Trial</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS INDENTURE, THE NOTES AND ANY SUBSIDIARY GUARANTEE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES AND ANY SUBSIDIARY GUARANTEE OR THE TRANSACTION CONTEMPLATED HEREBY. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.09 <U>Force Majeure</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In no event shall the Trustee, Paying Agent, Registrar, Collateral Agent or Transfer Agent be responsible or liable for any failure or delay
in the performance of its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">113 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.10 <U>Successors</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All agreements of the Issuers in this Indenture and the Notes shall bind its successors. All agreements of the Trustee, the Paying Agent,
Registrar and Transfer Agent and the Collateral Agent in this Indenture shall bind their respective successors. All agreements of each Guarantor in this Indenture shall bind its successors, except as otherwise provided in Section&nbsp;13.06. The
provisions of Article&nbsp;11 referring to the Collateral Agent shall inure to the benefit of such Collateral Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.11
<U>Severability</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.12
<U>Counterpart Originals</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all
of them together represent the same agreement. Delivery of an executed counterpart of a signature page to this Indenture by facsimile, email or other electronic means shall be effective as delivery of a manually executed counterpart of this
Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.13 <U>Table of Contents, Headings, Etc.</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Table of Contents and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are
not to be considered a part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.14 <U>USA Patriot Act</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The parties hereto acknowledge that in accordance with Section&nbsp;326 of the USA Patriot Act the Trustee and Agents, like all financial
institutions and in order to help fight the funding of terrorism and money laundering, are required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account. The
parties to this agreement agree that they will provide the Trustee and the Agents with such information as they may request in order to satisfy the requirements of the USA Patriot Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">114 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;15.15 <U>No Adverse Interpretation of Other Agreements</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Indenture may not be used to interpret another indenture, loan or debt agreement (except for the Security Documents) of any Issuer or any
of their Subsidiaries. Any such indenture, loan or debt agreement (except for the Security Documents) may not be used to interpret this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signatures on following pages] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">115 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>WISE METALS GROUP LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President, Chief Legal Officer and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>WISE ALLOYS FINANCE CORPORATION</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>WISE ALLOYS LLC,</B> as Guarantor</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>LISTERHILL TOTAL MAINTENANCE CENTER LLC,</B> as Guarantor</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5"><B>ALABAMA ELECTRIC MOTOR SERVICES, LLC, </B>as Guarantor</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Wise Metals &#150;
Signature Page to Indenture] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B>, as Trustee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stefan Victory</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Stefan Victory</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WELLS FARGO BANK, NATIONAL ASSOCIATION</B>, as Collateral Agent</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Stefan Victory</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name: Stefan Victory</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title: Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Wise Metals &#150;
Signature Page to Indenture] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">FORMS OF NOTE </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A-1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Face of Note] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert the
Global Note Legend, if applicable, pursuant to the provisions of the Indenture] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert the OID Legend, if applicable, pursuant to the
provisions of the Indenture] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert the Private Placement Legend, if applicable, pursuant to the provisions of the Indenture] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert the IAI Note Legend, if applicable, pursuant to the provisions of the Indenture] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">CUSIP [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ISIN [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]<SUP STYLE="font-size:85%; vertical-align:top">1</SUP> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[RULE&nbsp;144A][REGULATION S] GLOBAL NOTE </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">[$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE METALS GROUP LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE ALLOYS FINANCE
CORPORATION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">promise to pay to CEDE&nbsp;&amp; CO. or its registered assigns the principal sum [set forth on the Schedule&nbsp;of Exchanges of Interests
in the Global Note attached hereto] [of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Dollars] on December&nbsp;15, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest Payment Dates: June&nbsp;15 and December&nbsp;15 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Record Dates: June&nbsp;1 and December&nbsp;1 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date:
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#150; Reference is made to
the further provisions of this Note contained herein, which will for all purposes have the same effect as if set forth at this place. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Rule 144A Note CUSIP: 977255 AD0 </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Rule 144A Note ISIN: US977255AD06 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Regulation S Note CUSIP: U97076 AB6 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Regulation&nbsp;S Note ISIN: USU97076AB62 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS HEREOF, the Issuers have caused this instrument to be duly executed. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WISE METALS GROUP LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WISE ALLOYS FINANCE CORPORATION</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This is one of the Notes referred to in the within-mentioned Indenture: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Back of Note] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. INTEREST. Wise Metals Group LLC, a Delaware limited liability company (the &#147;<U>Company</U>&#148;), and Wise Alloys Finance
Corporation, a Delaware corporation (&#147;<U>Wise Finance</U>&#148; and, together with the Company, the &#147;<U>Issuers</U>&#148;), promise to pay interest on the principal amount of this Note at 8.750%&nbsp;per annum from December&nbsp;11, 2013
until maturity. The Issuers will pay interest semi-annually in arrears on June&nbsp;15 and December&nbsp;15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an &#147;<U>Interest Payment
Date</U>&#148;). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; <U>provided</U> that the first Interest Payment Date shall be June&nbsp;15,
2014. The Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the interest rate on the Notes; they shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the interest rate on the Notes. Interest will be
computed on the basis of a 360-day year comprised of twelve 30-day&nbsp;months. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. METHOD OF PAYMENT. The Issuers will pay interest on
the Notes to the Persons who are registered Holders of Notes at the close of business on June&nbsp;1 or December&nbsp;1 (whether or not a Business Day), as the case may be, immediately preceding the Interest Payment Date, even if such Notes are
canceled after such Record Date and on or before such Interest Payment Date, except as provided in Section&nbsp;2.12 of the Indenture with respect to defaulted interest. Payment of interest may be made by check mailed to the Holders at their
addresses set forth in the register of Holders, <U>provided</U> that payment by wire transfer of immediately available funds will be required with respect to principal of, and interest and premium, if any, on all Global Notes and all other Notes,
the Holders of which shall have provided wire transfer instructions to the Issuers or the Paying Agent. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public
and private debts. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association will act as Paying Agent and
Registrar. The Issuers may change any Paying Agent or Registrar without notice to the Holders. The Issuers or any of their Subsidiaries may act in any such capacity. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. INDENTURE. The Issuers issued the Notes under an Indenture, dated as of December&nbsp;11, 2013 (the &#147;<U>Indenture</U>&#148;), among
the Issuers, the Guarantors named therein, the Trustee and the Collateral Agent. This Note is one of a duly authorized issue of Notes of the Issuers designated as their 8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB
STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018. The Issuers shall be entitled to issue Additional Notes pursuant to Section&nbsp;2.01 of the Indenture. The terms of the Notes include those stated in the Indenture. The Notes are
subject to all such terms, and Holders are referred to </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the Indenture, the provisions of the Indenture shall govern and be
controlling. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. OPTIONAL REDEMPTION. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) At any time prior to June&nbsp;15, 2016 the Notes may be redeemed, in whole or in part, on one or more occasions at the option of the
Issuers, at a Redemption Price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued and unpaid interest to, but not including, the Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuers may redeem the Notes at any time, and from time to time, on or after June&nbsp;15, 2016 and prior to maturity, upon not less
than 30 nor more than 60&nbsp;days&#146; prior notice mailed by first class mail to each Holder&#146;s last address, as it appears in the Note Register, at the following Redemption Prices (expressed in percentages of principal amount), plus accrued
and unpaid interest to, but not including, the Redemption Date (subject to the right of Holders of record on the relevant Record Date that is prior to the Redemption Date to receive interest due on an Interest Payment Date), if redeemed during the
12-month period (or in the case of the final period, the six-month period) beginning on the dates set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.00pt; font-size:8pt; font-family:Times New Roman"><B>Date</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption<BR>Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104.375</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.188</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2018 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) In addition, at any time prior to June&nbsp;15, 2016, the Issuers may redeem on one or more occasions up
to 35% of the aggregate principal amount of the Notes originally issued (calculated after giving effect to the issuance of any Additional Notes) with the Net Cash Proceeds of one or more sales of Equity Interests (other than Disqualified Stock) of
the Company at a redemption price of 108.750% of their principal amount, plus accrued interest to, but not including, the Redemption Date; <U>provided</U> that at least 65% of the aggregate principal amount of Notes originally issued (calculated
after giving effect to the issuance of any Additional Notes) remains outstanding after each such redemption and notice of any such redemption is mailed within 90&nbsp;days of each such sale of Equity Interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) If less than all of the Notes are to be redeemed, the Trustee shall select the Notes to be redeemed <U>pro rata</U>, by lot or by any
other method the Trustee shall deem fair and reasonable and in any event in accordance with the Applicable Procedures. Notes redeemed in part must be redeemed only in denominations of $2,000 in principal amount or integral multiples of $1,000 in
excess thereof and no Note with a principal amount of $2,000 or less will be redeemed in part. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) In addition to the Issuers&#146;
rights to redeem the Notes as set forth above, the Issuers may purchase Notes in open-market transactions, tender offers or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. MANDATORY REDEMPTION. The Issuers shall not be required to make mandatory redemption or
sinking fund payments with respect to the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. NOTICE OF REDEMPTION. Subject to Section&nbsp;3.03 of the Indenture, notice of
redemption will be mailed by first-class mail at least 30&nbsp;days but not more than 60&nbsp;days before the Redemption Date (except that redemption notices may be mailed more than 60&nbsp;days prior to a Redemption Date if the notice is issued in
connection with Article&nbsp;8 or Article&nbsp;14 of the Indenture) to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 principal amount may be redeemed in part but only in whole
multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed. On and after the Redemption Date, interest ceases to accrue on Notes or portions thereof called for redemption. Any notice of redemption may, at the
discretion of the Issuers, be subject to one or more conditions precedent, as set forth in Section&nbsp;3.03 of the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. OFFERS
TO REPURCHASE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) Upon the occurrence of any Change of Control, each Holder shall have the right to require the repurchase of its Notes
by the Issuers in cash pursuant to the offer described in the Indenture at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase (the &#147;<U>Payment Date</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) A notice of such Change of Control will be mailed within 30&nbsp;days after any Change of Control occurs to each Holder at its last
address as it appears in the Note Register. Notes in original denominations larger than $2,000 may be sold to the Issuers in part. On and after the Payment Date, interest ceases to accrue on Notes or portions of Notes surrendered for purchase by the
Issuers, unless the Issuers default in the payment of the purchase price. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in
registered form without coupons in denominations of $2,000 principal amount and integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the
Trustee may require a Holder, among other things, to furnish appropriate endorsements and transfer documents (including IRS withholding tax forms) and the Issuers may require a Holder to pay any taxes and fees required by law or permitted by the
Indenture. The Issuers need not exchange or register the transfer of any Notes or portion of Notes selected for redemption, except for the unredeemed portion of any Notes being redeemed in part. Also, the Issuers need not exchange or register the
transfer of any Notes for a period of 15&nbsp;days before the mailing of a notice of redemption of Notes to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. PERSONS
DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for all purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. AMENDMENT, SUPPLEMENT AND WAIVER. The
Indenture, the Subsidiary Guarantees or the Notes may be amended or supplemented as provided in the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. DEFAULTS AND REMEDIES.
The Events of Default relating to the Notes are defined in Section&nbsp;6.01 of the Indenture. If any Event of Default (other than as </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
specified in Section&nbsp;6.01(f) or 6.01(g) of the Indenture with respect to an Issuer) shall occur and be continuing with respect to the Indenture, the Trustee or the Holders of not less than
25% in aggregate principal amount of the Notes then outstanding may, and the Trustee at the request of such Holders shall, declare all unpaid principal of, premium, if any, and accrued interest on all Notes to be due and payable immediately, by a
notice in writing to the Issuers (and to the Trustee if given by the holders of the Notes) and upon any such declaration, such principal, premium, if any, and interest shall become due and payable immediately. Notwithstanding the foregoing, in the
case of an Event of Default specified in Section&nbsp;6.01(f) or 6.01(g) of the Indenture occurs and is continuing, then all the Notes shall automatically become and be due and payable immediately in an amount equal to the principal amount of the
Notes, together with accrued and unpaid interest, if any, to the date the Notes become due and payable, without any declaration or other act on the part of the Trustee or any holder. Holders may not enforce the Indenture, the Notes or the Subsidiary
Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any trust or power. The Trustee may withhold
from Holders of the Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest. Subject to the conditions set forth in
the Indenture, the Holders of a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or and its consequences under the Indenture
except a continuing Default in payment of the principal of, premium, if any, or interest on the Notes. The Issuers and each Guarantor are required to deliver to the Trustee annually a statement regarding compliance with the Indenture, and the
Issuers are required after becoming aware of any Default, to deliver to the Trustee a statement specifying such Default and what action the Issuers propose to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until
authenticated by the manual signature of the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. GOVERNING LAW. THE INDENTURE, THE NOTES AND ANY SUBSIDIARY GUARANTEE WILL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. CUSIP/ISIN NUMBERS. Pursuant to a recommendation
promulgated by the Committee on Uniform Security Identification Procedures, the Issuers have caused CUSIP/ISIN numbers to be printed on the Notes and the Trustee may use CUSIP/ISIN numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Issuers will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to the Issuers at the following address: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Wise Metals Group LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Muscle Shoals,
Alabama 35661 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (256)&nbsp;386-6980 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Attention: Chief Legal Officer </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ASSIGNMENT FORM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To assign this Note, fill in the form below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="31%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="68%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(I)&nbsp;or&nbsp;(we)&nbsp;assign&nbsp;and&nbsp;transfer&nbsp;this&nbsp;Note&nbsp;to:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">(Insert assignee&#146; legal name)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">(Insert assignee&#146;s soc. sec. or tax I.D. no.)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center">(Print or type assignee&#146;s name, address and zip code)</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and&nbsp;irrevocably&nbsp;appoint
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to transfer
this Note on the books of the Issuers. The agent may substitute another to act for him. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">(Sign exactly as your name appears on the face of this Note)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="55%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Signature&nbsp;Guarantee*:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">OPTION OF HOLDER TO ELECT PURCHASE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you want to elect to have this Note purchased by the Issuers pursuant to Section&nbsp;4.07 or 4.09 of the Indenture, check the appropriate
box below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="30%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" ALIGN="center"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;Section&nbsp;4.07</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Section&nbsp;4.09</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you want to elect to have only part of this Note purchased by the Issuers pursuant to Section&nbsp;4.07 or
Section&nbsp;4.09 of the Indenture, state the amount you elect to have purchased: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="39%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">(Sign exactly as your name appears on the face of this Note)</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="45%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="39%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="60%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Tax&nbsp;Identification&nbsp;No.:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="44%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="55%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Signature&nbsp;Guarantee*:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The initial outstanding principal amount of this Global Note is $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The following exchanges of
a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global or Definitive Note for an interest in this Global Note, have been made: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:57.30pt; font-size:8pt; font-family:Times New Roman">Date of Exchange</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Amount&nbsp;of<BR>decrease&nbsp;in<BR>Principal<BR>Amount&nbsp;of&nbsp;this<BR>Global Note</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Amount&nbsp;of&nbsp;increase<BR>in Principal<BR>Amount of this<BR>Global Note</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Principal&nbsp;Amount<BR>of&nbsp;this&nbsp;Global&nbsp;Note<BR>following such<BR>decrease&nbsp;or&nbsp;increase</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Signature&nbsp;of<BR>authorized<BR>signatory of<BR>Trustee&nbsp;or&nbsp;Notes<BR>Registrar</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">This schedule should be included only if the Note is issued in global form. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A1 - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT A-2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Face of Regulation&nbsp;S Temporary Note] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert the Global Note Legend] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert the OID Legend, if applicable, pursuant to the provisions of the Indenture] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert the Private Placement Legend] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">[Insert Regulation&nbsp;S Temporary Global Note Legend] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">CUSIP [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">ISIN [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]<SUP STYLE="font-size:85%; vertical-align:top">2</SUP> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[TEMPORARY REGULATION S] </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="51%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="47%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">No.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="right">[$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE METALS GROUP LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE ALLOYS FINANCE
CORPORATION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">promise to pay to CEDE&nbsp;&amp; CO. or its registered assigns the principal sum [set forth on the Schedule&nbsp;of Exchanges of Interests
in the Regulation&nbsp;S Temporary Global Note attached hereto] [of &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; United States Dollars] on December&nbsp;15, 2018. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Interest Payment Dates: June&nbsp;15 and December&nbsp;15 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Record Dates: June&nbsp;1 and December&nbsp;1 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated:
[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#150; Reference is made to
the further provisions of this Note contained herein, which will for all purposes have the same effect as if set forth at this place. </P>
<P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left"><SUP STYLE="font-size:85%; vertical-align:top">2</SUP>&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Regulation S Note CUSIP: U97076 AB6 </TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Regulation S Note ISIN: USU97076AB62 </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS HEREOF, the Issuers have caused this instrument to be duly executed. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WISE METALS GROUP LLC</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WISE ALLOYS FINANCE CORPORATION</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This is one of the Notes referred to in the within-mentioned Indenture: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Back of Note] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Capitalized terms used herein shall have the meanings assigned to them in the Indenture referred to below unless otherwise indicated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. INTEREST. Wise Metals Group LLC, a Delaware limited liability company (the &#147;<U>Company</U>&#148;), and Wise Alloys Finance
Corporation, a Delaware corporation (&#147;<U>Wise Finance</U>&#148; and, together with the Company, the &#147;<U>Issuers</U>&#148;), promise to pay interest on the principal amount of this Note at 8.750%&nbsp;per annum from December&nbsp;11, 2013
until maturity. The Issuers will pay interest semi-annually in arrears on June&nbsp;15 and December&nbsp;15 of each year, or if any such day is not a Business Day, on the next succeeding Business Day (each, an &#147;<U>Interest Payment
Date</U>&#148;). Interest on the Notes will accrue from the most recent date to which interest has been paid or, if no interest has been paid, from the date of issuance; <U>provided</U> that the first Interest Payment Date shall be June&nbsp;15,
2014. The Issuers will pay interest (including post-petition interest in any proceeding under any Bankruptcy Law) on overdue principal and premium, if any, from time to time on demand at the interest rate on the Notes; they shall pay interest
(including post-petition interest in any proceeding under any Bankruptcy Law) on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the interest rate on the Notes. Interest will be
computed on the basis of a 360-day year comprised of twelve 30-day&nbsp;months. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Until this Regulations S Temporary Global Note is
exchanged for one or more Regulation&nbsp;S Permanent Global Notes, the Holder hereof shall not be entitled to receive payments of interest hereon; until so exchanged in full, this Regulation&nbsp;S Temporary Global Note shall in all other respects
be entitled to the same benefits as the other Notes under the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. METHOD OF PAYMENT. The Issuers will pay interest on the Notes
to the Persons who are registered Holders of Notes at the close of business on June&nbsp;1 or December&nbsp;1 (whether or not a Business Day), as the case may be, immediately preceding the Interest Payment Date, even if such Notes are canceled after
such Record Date and on or before such Interest Payment Date, except as provided in Section&nbsp;2.12 of the Indenture with respect to defaulted interest. Payment of interest may be made by check mailed to the Holders at their addresses set forth in
the register of Holders, <U>provided</U> that payment by wire transfer of immediately available funds will be required with respect to principal of, and interest and premium, if any, on all Global Notes and all other Notes, the Holders of which
shall have provided wire transfer instructions to the Issuers or the Paying Agent. Such payment shall be in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. PAYING AGENT AND REGISTRAR. Initially, Wells Fargo Bank, National Association will act as Paying Agent and Registrar. The Issuers may
change any Paying Agent or Registrar without notice to the Holders. The Issuers or any of their Subsidiaries may act in any such capacity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. INDENTURE. The Issuers issued the Notes under an Indenture, dated as of December&nbsp;11, 2013
(the &#147;<U>Indenture</U>&#148;), among the Issuers, the Guarantors named therein, the Trustee and the Collateral Agent. This Note is one of a duly authorized issue of Notes of the Issuers designated as their
8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018. The Issuers shall be entitled to issue Additional Notes pursuant to Section&nbsp;2.01 of the Indenture. The terms of the
Notes include those stated in the Indenture. The Notes are subject to all such terms, and Holders are referred to the Indenture for a statement of such terms. To the extent any provision of this Note conflicts with the express provisions of the
Indenture, the provisions of the Indenture shall govern and be controlling. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. OPTIONAL REDEMPTION. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) At any time prior to June&nbsp;15, 2016 the Notes may be redeemed, in whole or in part, on one or more occasions at the option of the
Issuers, at a Redemption Price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued and unpaid interest to, but not including, the Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The Issuers may redeem the Notes at any time, and from time to time, on or after June&nbsp;15, 2016 and prior to maturity, upon not less
than 30 nor more than 60&nbsp;days&#146; prior notice mailed by first class mail to each Holder&#146;s last address, as it appears in the Note Register, at the following Redemption Prices (expressed in percentages of principal amount), plus accrued
and unpaid interest to, but not including, the Redemption Date (subject to the right of Holders of record on the relevant Record Date that is prior to the Redemption Date to receive interest due on an Interest Payment Date), if redeemed during the
12-month period (or in the case of the final period, the six-month period) beginning on the dates set forth below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.00pt; font-size:8pt; font-family:Times New Roman"><B>Date</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption<BR>Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104.375</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.188</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2018 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) In addition, at any time prior to June&nbsp;15, 2016, the Issuers may redeem on one or more occasions up
to 35% of the aggregate principal amount of the Notes originally issued (calculated after giving effect to the issuance of any Additional Notes) with the Net Cash Proceeds of one or more sales of Equity Interests (other than Disqualified Stock) of
the Company at a redemption price of 108.750% of their principal amount, plus accrued interest to, but not including, the Redemption Date; <U>provided</U> that at least 65% of the aggregate principal amount of Notes originally issued (calculated
after giving effect to the issuance of any Additional Notes) remains outstanding after each such redemption and notice of any such redemption is mailed within 90&nbsp;days of each such sale of Equity Interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) If less than all of the Notes are to be redeemed, the Trustee shall select the Notes to be redeemed <U>pro rata</U>, by lot or by any
other method the Trustee shall deem fair and reasonable and in any event in accordance with the Applicable Procedures. Notes redeemed in part must be redeemed only in denominations of $2,000 in principal amount or integral multiples of $1,000 in
excess thereof and no Note with a principal amount of $2,000 or less will be redeemed in part. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) In addition to the Issuers&#146; rights to redeem the Notes as set forth above, the Issuers
may purchase Notes in open-market transactions, tender offers or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. MANDATORY REDEMPTION. The Issuers shall not be required to
make mandatory redemption or sinking fund payments with respect to the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. NOTICE OF REDEMPTION. Subject to Section&nbsp;3.03 of
the Indenture, notice of redemption will be mailed by first-class mail at least 30&nbsp;days but not more than 60&nbsp;days before the Redemption Date (except that redemption notices may be mailed more than 60&nbsp;days prior to a Redemption Date if
the notice is issued in connection with Article&nbsp;8 or Article&nbsp;14 of the Indenture) to each Holder whose Notes are to be redeemed at its registered address. Notes in denominations larger than $2,000 principal amount may be redeemed in part
but only in whole multiples of $1,000 in excess thereof, unless all of the Notes held by a Holder are to be redeemed. On and after the Redemption Date, interest ceases to accrue on Notes or portions thereof called for redemption. Any notice of
redemption may, at the discretion of the Issuers, be subject to one or more conditions precedent, as set forth in Section&nbsp;3.03 of the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. OFFERS TO REPURCHASE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
Upon the occurrence of any Change of Control, each Holder shall have the right to require the repurchase of its Notes by the Issuers in cash pursuant to the offer described in the Indenture at a purchase price equal to 101% of the principal amount
thereof plus accrued and unpaid interest, if any, to the date of purchase (the &#147;<U>Payment Date</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) A notice of such
Change of Control will be mailed within 30&nbsp;days after any Change of Control occurs to each Holder at its last address as it appears in the Note Register. Notes in original denominations larger than $2,000 may be sold to the Issuers in part. On
and after the Payment Date, interest ceases to accrue on Notes or portions of Notes surrendered for purchase by the Issuers, unless the Issuers default in the payment of the purchase price. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. DENOMINATIONS, TRANSFER, EXCHANGE. The Notes are in registered form without coupons in denominations of $2,000 principal amount and
integral multiples of $1,000 in excess thereof. The transfer of Notes may be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, among other things, to furnish appropriate
endorsements and transfer documents (including IRS withholding tax forms) and the Issuers may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The Issuers need not exchange or register the transfer of any
Notes or portion of Notes selected for redemption, except for the unredeemed portion of any Notes being redeemed in part. Also, the Issuers need not exchange or register the transfer of any Notes for a period of 15&nbsp;days before the mailing of a
notice of redemption of Notes to be redeemed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. PERSONS DEEMED OWNERS. The registered Holder of a Note may be treated as its owner for
all purposes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. AMENDMENT, SUPPLEMENT AND WAIVER. The Indenture, the Subsidiary Guarantees or the Notes may
be amended or supplemented as provided in the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. DEFAULTS AND REMEDIES. The Events of Default relating to the Notes are
defined in Section&nbsp;6.01 of the Indenture. If any Event of Default (other than as specified in Section&nbsp;6.01(f) or 6.01(g) of the Indenture with respect to an Issuer) shall occur and be continuing with respect to the Indenture, the Trustee
or the Holders of not less than 25% in aggregate principal amount of the Notes then outstanding may, and the Trustee at the request of such Holders shall, declare all unpaid principal of, premium, if any, and accrued interest on all Notes to be due
and payable immediately, by a notice in writing to the Issuers (and to the Trustee if given by the holders of the Notes) and upon any such declaration, such principal, premium, if any, and interest shall become due and payable immediately.
Notwithstanding the foregoing, in the case of an Event of Default specified in Section&nbsp;6.01(f) or 6.01(g) of the Indenture occurs and is continuing, then all the Notes shall automatically become and be due and payable immediately in an amount
equal to the principal amount of the Notes, together with accrued and unpaid interest, if any, to the date the Notes become due and payable, without any declaration or other act on the part of the Trustee or any holder. Holders may not enforce the
Indenture, the Notes or the Subsidiary Guarantees except as provided in the Indenture. Subject to certain limitations, Holders of a majority in aggregate principal amount of the then outstanding Notes may direct the Trustee in its exercise of any
trust or power. The Trustee may withhold from Holders of the Notes notice of any continuing Default (except a Default relating to the payment of principal, premium, if any, or interest) if it determines that withholding notice is in their interest.
Subject to the conditions set forth in the Indenture, the Holders of a majority in aggregate principal amount of the Notes then outstanding by notice to the Trustee may on behalf of the Holders of all of the Notes waive any existing Default or and
its consequences under the Indenture except a continuing Default in payment of the principal of, premium, if any, or interest on the Notes. The Issuers and each Guarantor are required to deliver to the Trustee annually a statement regarding
compliance with the Indenture, and the Issuers are required after becoming aware of any Default, to deliver to the Trustee a statement specifying such Default and what action the Issuers propose to take with respect thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. AUTHENTICATION. This Note shall not be entitled to any benefit under the Indenture or be valid or obligatory for any purpose until
authenticated by the manual signature of the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. GOVERNING LAW. THE INDENTURE, THE NOTES AND ANY SUBSIDIARY GUARANTEE WILL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. CUSIP/ISIN NUMBERS. Pursuant to a recommendation
promulgated by the Committee on Uniform Security Identification Procedures, the Issuers have caused CUSIP/ISIN numbers to be printed on the Notes and the Trustee may use CUSIP/ISIN numbers in notices of redemption as a convenience to Holders. No
representation is made as to the accuracy of such numbers either as printed on the Notes or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Issuers will furnish to any Holder upon written request and without charge a copy of the
Indenture. Requests may be made to the Issuers at the following address: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Wise Metals Group LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Muscle Shoals,
Alabama 35661 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Facsimile: (256) 386-6980 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Attention: Chief Legal Officer </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ASSIGNMENT FORM </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To assign this Note, fill in the form below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="29%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="70%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">(I)&nbsp;or&nbsp;(we)&nbsp;assign&nbsp;and&nbsp;transfer&nbsp;this&nbsp;Note&nbsp;to:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" ALIGN="center">(Insert assignee&#146; legal name)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Insert assignee&#146;s soc. sec. or tax I.D. no.) </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Print or type assignee&#146;s name,
address and zip code) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and irrevocably appoint
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to transfer this
Note on the books of the Issuers. The agent may substitute another to act for him. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">(Sign exactly as your name appears on the face of this Note)</TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="28%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="26%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Signature&nbsp;Guarantee*:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">OPTION OF HOLDER TO ELECT PURCHASE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you want to elect to have this Note purchased by the Issuers pursuant to Section&nbsp;4.07 or 4.09 of the Indenture, check the appropriate
box below: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;Section&nbsp;4.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT>&nbsp;&nbsp;Section&nbsp;4.09 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If you want to elect to have only part of this Note
purchased by the Issuers pursuant to Section&nbsp;4.07 or Section&nbsp;4.09 of the Indenture, state the amount you elect to have purchased: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="4%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="35%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Your&nbsp;Signature:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">(Sign exactly as your name appears on the face of this Note)</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="21%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="77%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Tax&nbsp;Identification&nbsp;No.:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="27%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="28%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="26%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Signature&nbsp;Guarantee*:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">Participant in a recognized Signature Guarantee Medallion Program (or other signature guarantor acceptable to the Trustee). </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SCHEDULE OF EXCHANGES OF INTERESTS IN THE GLOBAL NOTE* </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The initial outstanding principal amount of this Global Note is $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. The following exchanges of
a part of this Global Note for an interest in another Global Note or for a Definitive Note, or exchanges of a part of another Global or Definitive Note for an interest in this Global Note, have been made: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="92%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="48%"></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="13%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:57.30pt; font-size:8pt; font-family:Times New Roman">Date of Exchange</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Amount&nbsp;of<BR>decrease&nbsp;in<BR>Principal<BR>Amount&nbsp;of&nbsp;this<BR>Global Note</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Amount&nbsp;of&nbsp;increase<BR>in Principal<BR>Amount of this<BR>Global Note</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Principal&nbsp;Amount<BR>of&nbsp;this&nbsp;Global&nbsp;Note<BR>following such<BR>decrease&nbsp;or&nbsp;increase</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Signature&nbsp;of<BR>authorized<BR>signatory of<BR>Trustee&nbsp;or&nbsp;Notes<BR>Registrar</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top">This schedule should be included only if the Note is issued in global form. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">A2 - 12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT B </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">FORM OF CERTIFICATE OF TRANSFER </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wise Metals
Group LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Muscle Shoals, Alabama 35661
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Facsimile: (256)&nbsp;386-6980 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Chief Legal
Officer </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Bank, National Association </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DAPS Reorg.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MAC N9303-121 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">608 2<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP> Avenue South </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Minneapolis, MN 55479 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone No.: (877)&nbsp;872-4605 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax No.: (866)&nbsp;969-1290
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: DAPSReorg@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Re: 8<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is
hereby made to the Indenture, dated as of December&nbsp;11, 2013 (the &#147;<U>Indenture</U>&#148;), among Wise Metals Group LLC, Wise Alloys Finance Corporation, the Guarantors named therein, the Trustee and the Collateral Agent. Capitalized terms
used but not defined herein shall have the meanings given to them in the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(the
&#147;<U>Transferor</U>&#148;) owns and proposes to transfer the Note[s] or interest in such Note[s] specified in Annex&nbsp;A hereto, in the principal amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in such Note[s] or interests (the
&#147;<U>Transfer</U>&#148;), to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(the &#147;<U>Transferee</U>&#148;), as further specified in Annex&nbsp;A hereto. In connection
with the Transfer, the Transferor hereby certifies that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[CHECK ALL THAT APPLY] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN THE 144A GLOBAL NOTE
OR A DEFINITIVE NOTE PURSUANT TO RULE&nbsp;144A. The Transfer is being effected pursuant to and in accordance with Rule&nbsp;144A under the United States Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;), and, accordingly,
the Transferor hereby further certifies that the beneficial interest or Definitive Note is being transferred to a Person that the Transferor reasonably believes is purchasing the beneficial interest or Definitive Note for its own account, or for one
or more accounts with respect to which such Person exercises sole investment discretion, and such Person and each such account is a &#147;qualified institutional buyer&#148; within the meaning of Rule&nbsp;144A in a transaction meeting the
requirements of Rule&nbsp;144A and such Transfer is in compliance with any applicable blue sky securities laws of any state of the United States. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the
transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the 144A Global Note and/or the Restricted Definitive Note and the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A
BENEFICIAL INTEREST IN THE REGULATION S TEMPORARY GLOBAL NOTE, THE REGULATION S PERMANENT GLOBAL NOTE OR A DEFINITIVE NOTE PURSUANT TO REGULATION S. The Transfer is being effected pursuant to and in accordance with Rule&nbsp;903 or Rule&nbsp;904
under the Securities Act and, accordingly, the Transferor hereby further certifies that (i)&nbsp;the Transfer is not being made to a person in the United States and (x)&nbsp;at the time the buy order was originated, the Transferee was outside the
United States or such Transferor and any Person acting on its behalf reasonably believed and believes that the Transferee was outside the United States or (y)&nbsp;the transaction was executed in, on or through the facilities of a designated
offshore securities market and neither such Transferor nor any Person acting on its behalf knows that the transaction was prearranged with a buyer in the United States, (ii)&nbsp;no directed selling efforts have been made in contravention of the
requirements of Rule&nbsp;903(b)&nbsp;or Rule&nbsp;904(b)&nbsp;of Regulation&nbsp;S under the Securities Act, (iii)&nbsp;the transaction is not part of a plan or scheme to evade the registration requirements of the Securities Act and (iv)&nbsp;if
the proposed transfer is being made prior to the expiration of the Restricted Period, the transfer is not being made to a U.S. Person or for the account or benefit of a U.S. Person (other than an Initial Purchaser). Upon consummation of the proposed
transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Regulation&nbsp;S Temporary
Global Note, the Regulation&nbsp;S Permanent Global Note and/or the Restricted Definitive Note and in the Indenture and the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK AND COMPLETE IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN A GLOBAL
NOTE OR A DEFINITIVE NOTE PURSUANT TO ANY PROVISION OF THE SECURITIES ACT OTHER THAN RULE&nbsp;144A OR REGULATION S. The Transfer is being effected in compliance with the transfer restrictions applicable to beneficial interests in Restricted Global
Notes and Restricted Definitive Notes and pursuant to and in accordance with the Securities Act and any applicable blue sky securities laws of any state of the United States, and accordingly the Transferor hereby further certifies that (check one):
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> such Transfer is being effected pursuant to and in accordance with Rule&nbsp;144
under the Securities Act; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> such Transfer is being effected to the Issuers or a subsidiary thereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) <FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> such Transfer is being effected pursuant to an effective registration statement under the Securities Act and in compliance with the prospectus delivery requirements of the Securities Act; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> such Transfer is being effected to an
Institutional Accredited Investor and pursuant to an exemption from the registration requirements of the Securities Act other than Rule&nbsp;144A, Rule&nbsp;144, Rule&nbsp;903 or Rule&nbsp;904, and the Transferor hereby further certifies that it has
not engaged in any general solicitation within the meaning of Regulation&nbsp;D under the Securities Act and the Transfer complies with the transfer restrictions applicable to beneficial interests in a Restricted Global Note or Restricted Definitive
Notes and the requirements of the exemption claimed, which certification is supported by (1)&nbsp;a certificate executed by the Transferee in the form of <U>Exhibit&nbsp;B-1</U> to the Indenture, and (2)&nbsp;if such Transfer is in respect of a
principal amount of Notes at the time of Transfer of less than $100,000, an Opinion of Counsel provided by the Transferor or the Transferee (a copy of which the Transferor has attached to this certification), to the effect that such Transfer is in
compliance with the Securities Act. Upon consummation of the proposed transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will be subject to the restrictions on transfer enumerated in the
Private Placement Legend printed on the Restricted Global Notes, Restricted Definitive Notes and in the Indenture and the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFEREE WILL TAKE DELIVERY OF A BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL
NOTE OR OF AN UNRESTRICTED DEFINITIVE NOTE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFER IS PURSUANT TO
RULE&nbsp;144. (i)&nbsp;The Transfer is being effected pursuant to and in accordance with Rule&nbsp;144 under the Securities Act to a Person who is not an affiliate (as defined in Rule&nbsp;144) of the Issuers and in compliance with the transfer
restrictions contained in the Indenture and any applicable blue sky securities laws of any state of the United States, and (ii)&nbsp;the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order
to maintain compliance with the Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on
transfer enumerated in the Private Placement Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFER IS PURSUANT TO REGULATION S. (i)&nbsp;The Transfer is being effected
pursuant to and in accordance with Rule&nbsp;903 or Rule&nbsp;904 under the Securities Act to a Person who is not an affiliate (as defined in Rule&nbsp;144) of the Issuers and in compliance with the transfer restrictions contained in the Indenture
and any applicable blue sky securities laws of any state of the United States and (ii)&nbsp;the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities
Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will no longer be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the Restricted Global Notes, on Restricted Definitive Notes and in the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFER IS PURSUANT TO OTHER EXEMPTION. (i)&nbsp;The Transfer is being effected pursuant to and in compliance with an exemption from the registration requirements of the Securities Act
other than Rule&nbsp;144, Rule&nbsp;903 or Rule&nbsp;904 to a Person who is not an affiliate (as defined in Rule&nbsp;144) of the Issuers and in compliance with the transfer restrictions contained in the Indenture and any applicable blue sky
securities laws of any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
State of the United States and (ii)&nbsp;the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the
Securities Act. Upon consummation of the proposed Transfer in accordance with the terms of the Indenture, the transferred beneficial interest or Definitive Note will not be subject to the restrictions on transfer enumerated in the Private Placement
Legend printed on the Restricted Global Notes or Restricted Definitive Notes and in the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFEROR IS AN AFFILIATE OF THE ISSUERS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <FONT
STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF TRANSFEREE IS AN AFFILIATE OF THE ISSUERS. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B - 4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This certificate and the statements contained herein are made for your benefit and the benefit of
the Issuers. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[Insert Name of Transferor]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR></TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dated:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="right">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B - 5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">ANNEX A TO CERTIFICATE OF TRANSFER </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">The Transferor owns and proposes to transfer the following: </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[CHECK ONE OF (a)&nbsp;OR (b)]
</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> a beneficial interest in the: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> 144A Global Note (CUSIP [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]); or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Regulation&nbsp;S Global Note (CUSIP [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> a Restricted Definitive Note. </TD></TR></TABLE> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top">After the Transfer the Transferee will hold: </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[CHECK ONE] </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(a)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> a beneficial interest in the: </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(i)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> 144A Global Note (CUSIP [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(ii)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Regulation&nbsp;S Global Note (CUSIP [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(iii)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> Unrestricted Global Note (CUSIP [&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]; or </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(b)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> a Restricted Definitive Note; or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(c)</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> an Unrestricted Definitive Note, </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">in accordance with the
terms of the Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B - 6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT B-1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">FORM OF CERTIFICATE FROM </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ACQUIRING INSTITUTIONAL ACCREDITED INVESTOR </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wise
Metals Group LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Muscle Shoals, Alabama
35661 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Facsimile: (256)&nbsp;386-6980 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Chief Legal
Officer </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Bank, National Association </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DAPS Reorg.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MAC N9303-121 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">608 2<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP> Avenue South </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Minneapolis, MN 55479 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone No.: (877)&nbsp;872-4605 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax No.: (866)&nbsp;969-1290
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: DAPSReorg@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Re: 8<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is
hereby made to the Indenture, dated as of December&nbsp;11, 2013 (the &#147;<U>Indenture</U>&#148;), among Wise Metals Group LLC, Wise Alloys Finance Corporation, the Guarantors named therein, the Trustee and the Collateral Agent. Capitalized terms
used but not defined herein shall have the meanings given to them in the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with our proposed purchase of
$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;aggregate principal amount of [Definitive/Global] Note, we confirm that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. We
understand that any subsequent transfer of the Notes or any interest therein is subject to certain restrictions and conditions set forth in the Indenture and the undersigned agrees to be bound by, and not to resell, pledge or otherwise transfer the
Notes or any interest therein except in compliance with, such restrictions and conditions and the Securities Act of 1933, as amended (the &#147;Securities Act&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. We understand that the offer and sale of the Notes have not been registered under the Securities Act, and that the Notes and any interest
therein may not be offered or sold except as permitted in the following sentence. We agree, on our own behalf and on behalf of any accounts for which we are acting as hereinafter stated, that if we should sell the Notes or any interest therein, we
will do so only (A)&nbsp;to the Issuers, (B)&nbsp;in accordance with Rule&nbsp;144A under the Securities Act to a &#147;qualified institutional buyer&#148; (as defined therein), (C)&nbsp;to an institutional &#147;accredited investor&#148; (as
defined below) that, prior to such transfer, furnishes (or has furnished on its behalf by a U.S. broker-dealer) to you and to the Issuers a signed letter substantially in the form of this letter and, if such transfer is in respect of a principal
amount of Notes at the time of transfer of less than $100,000, an Opinion of Counsel in form reasonably acceptable to the Issuers to the effect that such transfer is in compliance with the Securities Act, (D)&nbsp;outside the United States in
accordance with Rule&nbsp;904 of Regulation&nbsp;S under </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B1 - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the Securities Act, (E)&nbsp;pursuant to an effective registration statement under the Securities Act, (F)&nbsp;in accordance with Rule&nbsp;144 under the Securities Act or (G)&nbsp;in accordance
with another exemption from the registration requirements of the Securities Act, and we further agree to provide to any Person purchasing the Note from us in a transaction meeting the requirements of clauses (A)&nbsp;through (G)&nbsp;of this
paragraph a notice advising such purchaser that resales thereof are restricted as stated herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. We understand that, on any proposed
resale of the Notes or beneficial interest therein, we will be required to furnish to you and the Issuers such certifications, legal opinions and other information as you and the Issuers may reasonably require to confirm that the proposed sale
complies with the foregoing restrictions. We further understand that the Notes purchased by us will bear a legend to the foregoing effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. We are an institutional &#147;accredited investor&#148; (as defined in Rule&nbsp;501(a)(1), (2), (3)&nbsp;or (7)&nbsp;of Regulation&nbsp;D
under the Securities Act) and have such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of our investment in the Notes, and we and any accounts for which we are acting are each able to
bear the economic risk of our or its investment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. We are acquiring the Notes or beneficial interest therein purchased by us for our own
account or for one or more accounts (each of which is an institutional &#147;accredited investor&#148;) as to each of which we exercise sole investment discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">You and the Issuers are entitled to rely upon this letter and are irrevocably authorized to produce this letter or a copy hereof to any
interested party in any administrative or legal proceedings or official inquiry with respect to the matters covered hereby. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="93%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[Insert Name of Accredited Investor]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR></TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">B1 - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT C </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">FORM OF CERTIFICATE OF EXCHANGE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wise Metals
Group LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Muscle Shoals, Alabama 35661
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Facsimile: (256)&nbsp;386-6980 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Chief Legal
Officer </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wells Fargo Bank, National Association </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">DAPS Reorg.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MAC N9303-121 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">608 2<SUP
STYLE="font-size:85%; vertical-align:top">nd</SUP> Avenue South </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Minneapolis, MN 55479 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Telephone No.: (877)&nbsp;872-4605 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax No.: (866)&nbsp;969-1290
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: DAPSReorg@wellsfargo.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Re: 8<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is
hereby made to the Indenture, dated as of December&nbsp;11, 2013 (the &#147;<U>Indenture</U>&#148;), among Wise Metals Group LLC, Wise Alloys Finance Corporation, the Guarantors named therein, the Trustee and the Collateral Agent. Capitalized terms
used but not defined herein shall have the meanings given to them in the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(the
&#147;<U>Owner</U>&#148;) owns and proposes to exchange the Note[s] or interest in such Note[s] specified herein, in the principal amount of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;in such Note[s] or interests (the
&#147;<U>Exchange</U>&#148;). In connection with the Exchange, the Owner hereby certifies that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1) EXCHANGE OF RESTRICTED DEFINITIVE
NOTES OR BENEFICIAL INTERESTS IN A RESTRICTED GLOBAL NOTE FOR UNRESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN AN UNRESTRICTED GLOBAL NOTE </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">a) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE
TO BENEFICIAL INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner&#146;s beneficial interest in a Restricted Global Note for a beneficial interest in an Unrestricted Global Note in an equal principal amount, the
Owner hereby certifies (i)&nbsp;the beneficial interest is being acquired for the Owner&#146;s own account without transfer, (ii)&nbsp;such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global
Notes and pursuant to and in accordance with the United States Securities Act of 1933, as amended (the &#147;<U>Securities Act</U>&#148;), (iii)&nbsp;the restrictions on transfer contained in the Indenture and the Private Placement Legend are not
required in order to maintain compliance with the Securities Act, (iv)&nbsp;the beneficial interest in an Unrestricted Global Note </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C - 1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
is being acquired in compliance with any applicable blue sky securities laws of any state of the United States and (v)&nbsp;the Owner is not an affiliate (as defined in Rule&nbsp;144) of the
Issuers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">b) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A
RESTRICTED GLOBAL NOTE TO UNRESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner&#146;s beneficial interest in a Restricted Global Note for an Unrestricted Definitive Note, the Owner hereby certifies (i)&nbsp;the Definitive Note
is being acquired for the Owner&#146;s own account without transfer, (ii)&nbsp;such Exchange has been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the
Securities Act, (iii)&nbsp;the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act, (iv)&nbsp;the Definitive Note is being acquired in
compliance with any applicable blue sky securities laws of any state of the United States and (v)&nbsp;the Owner is not an affiliate (as defined in Rule&nbsp;144) of the Issuers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">c) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO BENEFICIAL
INTEREST IN AN UNRESTRICTED GLOBAL NOTE. In connection with the Owner&#146;s Exchange of a Restricted Definitive Note for a beneficial interest in an Unrestricted Global Note, the Owner hereby certifies (i)&nbsp;the beneficial interest is being
acquired for the Owner&#146;s own account without transfer, (ii)&nbsp;such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act,
(iii)&nbsp;the restrictions on transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act, (iv)&nbsp;the beneficial interest is being acquired in compliance with any
applicable blue sky securities laws of any state of the United States and (v)&nbsp;the Owner is not an affiliate (as defined in Rule&nbsp;144) of the Issuers. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">d) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF EXCHANGE IS FROM RESTRICTED DEFINITIVE NOTE TO UNRESTRICTED
DEFINITIVE NOTE. In connection with the Owner&#146;s Exchange of a Restricted Definitive Note for an Unrestricted Definitive Note, the Owner hereby certifies (i)&nbsp;the Unrestricted Definitive Note is being acquired for the Owner&#146;s own
account without transfer, (ii)&nbsp;such Exchange has been effected in compliance with the transfer restrictions applicable to Restricted Definitive Notes and pursuant to and in accordance with the Securities Act, (iii)&nbsp;the restrictions on
transfer contained in the Indenture and the Private Placement Legend are not required in order to maintain compliance with the Securities Act, (iv)&nbsp;the Unrestricted Definitive Note is being acquired in compliance with any applicable blue sky
securities laws of any state of the United States and (v)&nbsp;the Owner is not an affiliate (as defined in Rule&nbsp;144) of the Issuers. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C - 2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2) EXCHANGE OF RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES FOR
RESTRICTED DEFINITIVE NOTES OR BENEFICIAL INTERESTS IN RESTRICTED GLOBAL NOTES </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">a)
<FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF EXCHANGE IS FROM BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE TO RESTRICTED DEFINITIVE NOTE. In connection with the Exchange of the Owner&#146;s beneficial interest in a Restricted Global
Note for a Restricted Definitive Note with an equal principal amount, the Owner hereby certifies that the Restricted Definitive Note is being acquired for the Owner&#146;s own account without transfer. Upon consummation of the proposed Exchange in
accordance with the terms of the Indenture, the Restricted Definitive Note issued will continue to be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the Restricted Definitive Note and in the Indenture
and the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">b) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF EXCHANGE IS FROM RESTRICTED
DEFINITIVE NOTE TO BENEFICIAL INTEREST IN A RESTRICTED GLOBAL NOTE. In connection with the Exchange of the Owner&#146;s Restricted Definitive Note for a beneficial interest in the [CHECK ONE] [&nbsp;&nbsp;&nbsp;&nbsp;] 144A Global Note
[&nbsp;&nbsp;&nbsp;&nbsp;] Regulation&nbsp;S Global Note, with an equal principal amount, the Owner hereby certifies (i)&nbsp;the beneficial interest is being acquired for the Owner&#146;s own account without transfer and (ii)&nbsp;such Exchange has
been effected in compliance with the transfer restrictions applicable to the Restricted Global Notes and pursuant to and in accordance with the Securities Act, and in compliance with any applicable blue sky securities laws of any state of the United
States. Upon consummation of the proposed Exchange in accordance with the terms of the Indenture, the beneficial interest issued will be subject to the restrictions on transfer enumerated in the Private Placement Legend printed on the relevant
Restricted Global Note and in the Indenture and the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF OWNER
IS AN AFFILIATE OF THE ISSUERS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4) <FONT STYLE="FONT-FAMILY:WINGDINGS">&#168;</FONT> CHECK IF OWNER IS EXCHANGING THIS NOTE IN CONNECTION
WITH AN EXPECTED TRANSFER TO AN AFFILIATE OF THE ISSUERS. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This certificate and the statements contained herein are made for your benefit
and the benefit of the Issuers and are dated &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[Insert Name of Transferor]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR></TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="86%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Dated:</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="right">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">C - 3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXHIBIT D </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[FORM OF SUPPLEMENTAL INDENTURE </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TO BE DELIVERED BY SUBSEQUENT GUARANTORS] </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Supplemental Indenture (this &#147;<U>Supplemental Indenture</U>&#148;), dated as of
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, among
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(the &#147;<U>Guaranteeing Subsidiary</U>&#148;), a subsidiary of [Wise Metals Group LLC, a Delaware limited liability company
(the &#147;<U>Company</U>&#148;)] [Wise Alloys Finance Corporation, a Delaware corporation (&#147;<U>Wise Finance</U>&#148;)], Wells Fargo Bank, National Association, a national banking association organized and existing under the bank of the United
States of America, as trustee (the &#147;<U>Trustee</U>&#148;), and Wells Fargo Bank, National Association, a national banking association organized and existing under the bank of the United States of America, as Collateral Agent (the
&#147;<U>Collateral Agent</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, [the Company and Wise Alloys Finance Corporation, a Delaware corporation (&#147;<U>Wise Finance</U>&#148; and, together with the
Company, the &#147;<U>Issuers</U>&#148;)] [Wise Finance and Wise Metals Group LLC, a Delaware limited liability company (the &#147;<U>Company</U>&#148; and, together with Wise Finance, the &#147;<U>Issuers</U>&#148;)] and the Guarantors (as defined
in the Indenture referred to below) have heretofore executed and delivered to the Trustee an indenture (the &#147;<U>Indenture</U>&#148;), dated as of December&nbsp;11, 2013, providing for the issuance of an unlimited aggregate principal amount of 8<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 (the &#147;<U>Notes</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a
supplemental indenture pursuant to which the Guaranteeing Subsidiary shall unconditionally Guarantee all of the Issuers&#146; Obligations under the Notes and the Indenture on the terms and conditions set forth herein and under the Indenture (the
&#147;<U>Subsidiary Guarantee</U>&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to Section&nbsp;9.01 of the Indenture, the Trustee is authorized to
execute and deliver this Supplemental Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) <U>Capitalized Terms</U>. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) <U>Agreement to be Bound</U>. The Guaranteeing Subsidiary hereby becomes a party to the Indenture as a Guarantor and as such will have all
of the rights and be subject to all of the obligations and agreements of a Guarantor under the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) <U>Guarantee</U>. The
Guaranteeing Subsidiary agrees, on a joint and several basis with all the existing Guarantors, to Guarantee to each Holder of the Notes and the Trustee the Indenture Obligations pursuant to Article&nbsp;13 of the Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) <U>No Recourse Against Others</U>. No director, officer, employee, incorporator or
stockholder of the Guaranteeing Subsidiary shall have any liability for any obligations of the Issuers or the Guarantors (including the Guaranteeing Subsidiary) under the Notes, the Indenture or this Supplemental Indenture or for any claim based on,
in respect of, or by reason of, such obligations or their creation. Each Holder by accepting Notes waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes and the Subsidiary Guarantees.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) <U>Notices</U>. Unless otherwise provided by notice to the Trustee and the Collateral Agent, all notices and other communications to
the Guaranteeing Subsidiary shall be given as provided in the Indenture to the Guaranteeing Subsidiary, at the address of the Issuers as provided in the Indenture for notices to the Issuers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(6) <U>Governing Law</U>. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(7) <U>Ratification of Indenture; Supplemental Indentures Part of Indenture</U>. Except as expressly amended hereby, the Indenture is in
all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. Every reference in the Indenture to the Indenture shall hereby be deemed to mean the Indenture as supplemented by this
Supplemental Indenture. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder heretofore or hereafter authenticated and delivered shall be bound hereby. The Trustee makes no representation or warranty as
to the validity or sufficiency of this Supplemental Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(8) <U>Counterparts</U>. The parties may sign any number of copies of this
Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. Delivery of an executed counterpart of a signature page to this Supplemental Indenture by facsimile, email or other electronic
means shall be effective as delivery of a manually executed counterpart of this Supplemental Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(9) <U>Effect of Headings</U>.
The Section&nbsp;headings herein are for convenience only and shall not affect the construction hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(10) <U>The Trustee</U>. The
Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the
Guaranteeing Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(11) <U>Benefits Acknowledged</U>. The Guaranteeing Subsidiary&#146;s Subsidiary Guarantee is subject to the
terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by the Indenture and this Supplemental Indenture and that the
guarantee and waivers made by it pursuant to this Subsidiary Guarantee are knowingly made in contemplation of such benefits. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(12) <U>Successors</U>. All agreements of the Guaranteeing Subsidiary in this Supplemental
Indenture shall bind its successors, except as otherwise provided in the Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind its successors. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly
executed, all as of the date first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">[GUARANTEEING SUBSIDIARY]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WELLS FARGO BANK, NATIONAL ASSOCIATION, as Trustee</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">WELLS FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">D-4 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.15
<SEQUENCE>10
<FILENAME>d908770dex415.htm
<DESCRIPTION>EX-4.15
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.15</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.15 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CREDIT AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Dated
as of December&nbsp;11, 2013 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>by and among </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WISE ALLOYS LLC, </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>as the
Borrower, </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE OTHER PERSONS PARTY HERETO THAT ARE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DESIGNATED AS CREDIT PARTIES, </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GENERAL ELECTRIC CAPITAL CORPORATION, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>for itself, as a Lender and Swingline Lender and as Administrative Agent for all Lenders, </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE OTHER FINANCIAL INSTITUTIONS PARTY HERETO, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>as Lenders </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>and </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BANK OF AMERICA, N.A., as Syndication Agent </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>**************************************** </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GE CAPITAL MARKETS, INC., </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>as Sole Lead Arranger </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>and </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>GE CAPITAL
MARKETS, INC. and </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MERRILL LYNCH, PIERCE, FENNER&nbsp;&amp; SMITH INCORPORATED, </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>as Joint Bookrunners </B></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE I. THE CREDITS</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amounts and Terms of Commitments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Evidence of Loans; Notes</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interest</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">8</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Loan Accounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">9</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.5</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Procedure for Revolving Credit Borrowing</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">10</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.6</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conversion and Continuation Elections</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.7</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prepayments and Reductions in Revolving Loan Commitments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.8</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fees</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.9</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payments by the Borrower</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payments by the Lenders to Agent; Settlement</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Eligible Accounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">17</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">1.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Eligible Inventory</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">20</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE II. CONDITIONS PRECEDENT</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions of Initial Loans</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">22</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">2.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Conditions to All Borrowings</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE III. REPRESENTATIONS AND WARRANTIES</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Corporate Existence and Power</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">23</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Corporate Authorization; No Contravention</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Governmental Authorization</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Binding Effect</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.5</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Litigation</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">24</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.6</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.7</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">ERISA Compliance</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.8</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Use of Proceeds; Margin Regulations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.9</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ownership of Property; Liens</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">25</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Taxes</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Financial Condition</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">26</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Environmental Matters</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Regulated Entities</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">27</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Labor Relations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Intellectual Property</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Brokers&#146; Fees; Transaction Fees</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Insurance</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">28</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Ventures, Subsidiaries and Affiliates; Outstanding Stock</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Jurisdiction of Organization; Chief Executive Office</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.20</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Locations of Inventory, Equipment and Books and Records</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.21</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Deposit Accounts and Other Accounts</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.22</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Government Contracts</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.23</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Customer and Trade Relations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">29</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.24</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bonding</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.25</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Debt Documents</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.26</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Full Disclosure</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.27</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Foreign Assets Control Regulations and Anti-Money Laundering</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.28</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Patriot Act</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">30</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.29</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Related Transactions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">3.30</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Solvency</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE IV. AFFIRMATIVE COVENANTS</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Financial Statements</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">31</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certificates; Other Information</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">32</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Preservation of Corporate Existence, Etc.</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.5</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Maintenance of Property</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.6</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Insurance</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">36</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.7</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payment of Obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.8</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compliance with Laws</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.9</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inspection of Property and Books and Records; Appraisals</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Use of Proceeds</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash Management Systems</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Access Agreements</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Further Assurances</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">4.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Environmental Matters</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">41</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE V. NEGATIVE COVENANTS</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Liens</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">42</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Disposition of Assets</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">43</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Consolidations and Mergers</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Acquisitions; Loans and Investments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">44</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.5</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Limitation on Indebtedness</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.6</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transactions with Affiliates</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">46</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.7</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Margin Stock; Use of Proceeds</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.8</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Contingent Obligations</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">47</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.9</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Compliance with ERISA</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Restricted Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">48</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change in Business</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Change in Structure</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Changes in Accounting, Name or Jurisdiction of Organization</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amendments to Material Contracts and Other Debt Documents</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">50</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Negative Pledges</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">OFAC; Patriot Act</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Sale-Leasebacks</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Hazardous Materials</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Prepayments of Other Indebtedness</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">51</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">5.20</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Fixed Charge Coverage Ratio</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE VI. EVENTS OF DEFAULT</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Events of Default</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rights Not Exclusive</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">6.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Cash Collateral for Letters of Credit</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE VII. THE AGENT</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Appointment and Duties</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Binding Effect</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Use of Discretion</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">56</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Delegation of Rights and Duties</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.5</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reliance and Liability</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.6</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Agent Individually</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.7</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Lender Credit Decision</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.8</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Expenses; Indemnities; Withholding</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">60</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.9</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Resignation of Agent or L/C Issuer</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Release of Collateral or Guarantors</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Additional Secured Parties</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">7.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Syndication Agent</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE VIII. MISCELLANEOUS</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Amendments and Waivers</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">62</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Notices</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Electronic Transmissions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Waiver; Cumulative Remedies</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.5</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Costs and Expenses</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">66</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.6</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Indemnity</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.7</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Marshaling; Payments Set Aside</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.8</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Successors and Assigns</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.9</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Assignments and Participations; Binding Effect</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">68</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Non-Public Information; Confidentiality</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">72</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Set-off; Sharing of Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Counterparts; Facsimile Signature</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Severability</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Captions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Independence of Provisions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Interpretation</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">No Third Parties Benefited</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Governing Law and Jurisdiction</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">75</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Waiver of Jury Trial</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.20</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Entire Agreement; Release; Survival</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.21</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Patriot Act</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.22</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Replacement of Lender</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.23</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Joint and Several</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.24</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Creditor-Debtor Relationship</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.25</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Actions in Concert</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">8.26</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Keepwell</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE IX. TAXES, YIELD PROTECTION AND ILLEGALITY</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Taxes</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">78</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Illegality</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Increased Costs and Reduction of Return</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">81</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Funding Losses</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.5</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Inability to Determine Rates</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.6</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Reserves on LIBOR Rate Loans</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">9.7</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Certificates of Lenders</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">ARTICLE X. DEFINITIONS</TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Defined Terms</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.2</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Other Interpretive Provisions</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">111</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.3</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounting Terms and Principles</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">10.4</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Payments</P></TD>
<TD VALIGN="bottom"></TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">112</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULES </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 1.1(a)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Revolving Loan Commitments</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 1.1(b)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Existing Letters of Credit</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.5</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Litigation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.7</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">ERISA</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Closing Date Sources and Uses; Funds Flow Memorandum</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.9</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Ownership of Property; Liens</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.11(a)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Historical Financial Statements</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.11(b)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Pro Forma Capitalization</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.11(e)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Projections</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.12</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Environmental</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.14</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Labor Relations</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.15</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Intellectual Property</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.18</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Ventures, Subsidiaries and Affiliates; Outstanding Stock</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.19</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Jurisdiction of Organization; Chief Executive Office</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.20</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Locations of Inventory, Equipment and Books and Records</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.21</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Deposit Accounts and Other Accounts</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.22</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Government Contracts</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 3.24</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Bonding</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 5.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Liens</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 5.4</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Investments</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 5.5</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Indebtedness</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 5.6(a)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Transactions with Affiliates</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Schedule 5.8</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Contingent Obligations</TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBITS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 1.1(b)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of L/C Request</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 1.1(c)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Swing Loan Request</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 1.2(a)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Revolving Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 1.2(b)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Swingline Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 1.5</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Notice of Borrowing</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 1.6</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Notice of Conversion/Continuation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 2.1</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Closing Checklist</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 4.2(b)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Compliance Certificate</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 4.2(c)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Borrowing Base Certificate</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Exhibit 8.9(c)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Form of Assignment</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">v </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CREDIT AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This CREDIT AGREEMENT (including all exhibits and schedules hereto, as the same may be amended, modified and/or restated from time to time,
this &#147;<U>Agreement</U>&#148;) is entered into as of December&nbsp;11, 2013 by and among Wise Alloys LLC, a Delaware limited liability company (the &#147;<U>Borrower</U>&#148;), the other Persons party hereto that are designated as a
&#147;Credit Party&#148;, General Electric Capital Corporation, a Delaware corporation (in its individual capacity, &#147;<U>GE Capital</U>&#148;), as Agent for the several financial institutions from time to time party to this Agreement
(collectively, the &#147;<U>Lenders</U>&#148; and individually each a &#147;<U>Lender</U>&#148;) and for itself as a Lender (including as Swingline Lender), and such Lenders. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
the Borrower has requested, and the Lenders have agreed to make available to the Borrower, a revolving credit facility (including a letter of credit subfacility) upon and subject to the terms and conditions set forth in this Agreement to
(a)&nbsp;refinance a portion of the Indebtedness of the Borrower under the Existing Revolving Credit Agreement, (b)&nbsp;provide for working capital, capital expenditures and other general corporate purposes of the Borrower and (c)&nbsp;fund certain
fees and expenses associated with the funding of the Loans and the other Related Transactions; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower desires to secure
all of its Obligations under the Loan Documents by granting to Agent, for the benefit of the Secured Parties, a security interest in and lien upon substantially all of its Property; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Wise Metals Group LLC, a Delaware limited liability company that directly owns all of the Stock and Stock Equivalents of the Borrower
(&#147;<U>Holdings</U>&#148;), is willing to guaranty all of the Obligations and to pledge to Agent, for the benefit of the Secured Parties, all of the Stock and Stock Equivalents of the Borrower and substantially all of its other Property to secure
the Obligations; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, subject to the terms hereof, each Restricted Subsidiary of Holdings (other than the Borrower) is willing to
guarantee all of the Obligations of the Borrower and to grant to Agent, for the benefit of the Secured Parties, a security interest in and lien upon substantially all of its Property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained herein, the parties hereto agree as follows:
</P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE I. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE
CREDITS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.1 <U>Amounts and Terms of Commitments</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>The Revolving Credit</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties
contained herein, each Lender, severally and not jointly, agrees to make Loans to the Borrower (each such Loan and each Incremental Revolving Loan, a &#147;<U>Revolving Loan</U>&#148;) from time to time on any Business Day
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
during the period from the Closing Date through the Final Availability Date, in an aggregate amount not to exceed at any time outstanding the amount set forth opposite such Lender&#146;s name in
<U>Schedule 1.1(a)</U> (such amount as the same may be reduced or increased from time to time in accordance with this Agreement, being referred to herein as such Lender&#146;s &#147;<U>Revolving Loan Commitment</U>&#148;); <U>provided</U>,
<U>however</U>, that, after giving effect to any Borrowing of Revolving Loans, the aggregate principal amount of all outstanding Revolving Loans shall not exceed the Maximum Revolving Loan Balance. Subject to the other terms and conditions hereof,
amounts borrowed under this <U>Section&nbsp;1.1(a)</U> may be repaid and reborrowed from time to time. The &#147;<U>Maximum Revolving Loan Balance</U>&#148; from time to time will be the lesser of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(x) the Borrowing Base in effect from time to time, and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(y) the Aggregate Revolving Loan Commitment then in effect, <U>less</U> those Reserves imposed by Agent in its Permitted Discretion; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>less</U>, in either case, the sum of (1)&nbsp;the aggregate amount of Letter of Credit Obligations <U>plus</U> (2)&nbsp;the aggregate principal amount of
outstanding Swing Loans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) If at any time the then outstanding principal balance of Revolving Loans exceeds the Maximum Revolving
Loan Balance, then the Borrower shall immediately prepay outstanding Revolving Loans and Swing Loans and then cash collateralize outstanding Letters of Credit in an amount sufficient to eliminate such excess in accordance herewith and in a manner
satisfactory to the L/C Issuers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) If the Borrower requests that Lenders make, or permit to remain outstanding, Revolving Loans in
excess of the Borrowing Base (less the sum of (x)&nbsp;the aggregate amount of Letter of Credit Obligations <U>plus</U> (y)&nbsp;the aggregate principal amount of outstanding Swing Loans) (any such excess Revolving Loan is herein referred to as an
&#147;<U>Overadvance</U>&#148;), Agent may, in its sole discretion, elect to make, or permit to remain outstanding such Overadvance; <U>provided</U>, <U>however</U>, that Agent may not cause Lenders to make, or grant the Borrower permission to have
remain outstanding, (A)&nbsp;aggregate Revolving Loans in excess of the Aggregate Revolving Loan Commitment less the sum of outstanding Swing Loans plus the aggregate amount of Letter of Credit Obligations or (B)&nbsp;an Overadvance in an aggregate
amount in excess of 10% of the Aggregate Revolving Loan Commitment. The Borrower shall not permit, and shall prepay the outstanding Revolving Loans and Swing Loans and then cash collateralize Letters of Credit so as to prevent, any Overadvance from
remaining outstanding for more than ninety (90)&nbsp;consecutive days during any one hundred eighty (180)&nbsp;consecutive day period. If an Overadvance is made, or permitted to remain outstanding, pursuant to the preceding sentence, then all
Lenders shall be bound to make, or permit to remain outstanding, such Overadvance based upon their Commitment Percentage of the Aggregate Revolving Loan Commitment in accordance with the terms of this Agreement, regardless of whether the conditions
to lending set forth in <U>Section&nbsp;2.2</U> have been met. Furthermore, Required Lenders may prospectively revoke Agent&#146;s ability to make or permit Overadvances by written notice to Agent. All Overadvances shall constitute Base Rate Loans
and shall bear interest at the Base Rate plus the Applicable Margin for Revolving Loans and the default rate under <U>Section&nbsp;1.3(c)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) The Borrower shall repay to the Lenders in full on the date specified in <U>clause (a)</U>&nbsp;of the definition of &#147;Revolving
Termination Date&#148; the aggregate principal amount of the Revolving Loans and Swing Loans outstanding on the Revolving Termination Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Letters of Credit</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) <U>Conditions</U>. On the terms and subject to the conditions contained herein, the Borrower may request that one or more L/C Issuers
Issue, in accordance with such L/C Issuers&#146; usual and customary business practices and for the account of the Borrower, Letters of Credit (denominated in Dollars) from time to time on any Business Day during the period from the Closing Date
through the earlier of (x)&nbsp;the Final Availability Date and (y)&nbsp;seven (7)&nbsp;days prior to the date specified in <U>clause (a)</U>&nbsp;of the definition of Revolving Termination Date; <U>provided</U>, <U>however</U>, that no L/C Issuer
shall Issue any Letter of Credit upon the occurrence of any of the following or, if after giving effect to such Issuance: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) (i) Availability would be less than zero or (ii)&nbsp;the Letter of Credit Obligations for all Letters of Credit would
exceed $25,000,000 (the &#147;<U>L/C Sublimit</U>&#148;); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the expiration date of such Letter of Credit (i)&nbsp;is not
a Business Day, (ii)&nbsp;is more than one year after the date of Issuance thereof or (iii)&nbsp;is later than seven (7)&nbsp;days prior to the date specified in <U>clause (a)</U>&nbsp;of the definition of Revolving Termination Date;
<U>provided</U>, <U>however</U>, that any Letter of Credit with a term not exceeding one year may provide for its renewal for additional periods not exceeding one year as long as (x)&nbsp;each of the Borrower and such L/C Issuer have the option to
prevent such renewal before the expiration of such term or any such period and (y)&nbsp;neither such L/C Issuer nor the Borrower shall permit any such renewal to extend such expiration date beyond the date set forth in <U>clause
(iii)</U>&nbsp;above; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) (i) any fee due in connection with, and on or prior to, such Issuance has not been paid,
(ii)&nbsp;such Letter of Credit is requested to be Issued in a form that is not acceptable to such L/C Issuer or (iii)&nbsp;such L/C Issuer shall not have received, each in form and substance reasonably acceptable to it and duly executed by the
Borrower, the documents that such L/C Issuer generally uses in the Ordinary Course of Business for the Issuance of letters of credit of the type of such Letter of Credit (collectively, the &#147;<U>L/C Reimbursement Agreement</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For each Issuance, the applicable L/C Issuer may, but shall not be required to, determine that, or take notice whether, the conditions precedent set forth in
<U>Section&nbsp;2.2</U> have been satisfied or waived in connection with the Issuance of any Letter of Credit; <U>provided</U>, <U>however</U>, that no Letter of Credit shall be Issued during the period starting on the first Business Day after the
receipt by such L/C Issuer of notice from Agent or the Required Lenders that any condition precedent contained in <U>Section&nbsp;2.2</U> is not satisfied and ending on the date all such conditions are satisfied or duly waived. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding anything else to the contrary herein, if any Lender is a Non-Funding Lender or Impacted Lender, no L/C Issuer shall be obligated to Issue any
Letter of Credit unless (w)&nbsp;the Non-Funding Lender or Impacted Lender has been replaced in accordance with <U>Section&nbsp;8.9</U> or <U>8.22</U>, (x)&nbsp;the Letter of Credit Obligations of such Non-Funding Lender or Impacted Lender have been
cash collateralized, (y)&nbsp;the Revolving Loan Commitments of the other Lenders have been increased by an amount sufficient to satisfy Agent that all future Letter of Credit Obligations will be covered by all Lenders that are not Non-Funding
Lenders or Impacted Lenders, or (z)&nbsp;the Letter of Credit Obligations of such Non-Funding Lender or Impacted Lender have been reallocated to other Lenders in a manner consistent with <U>Section&nbsp;1.10(e)(ii)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Notice of Issuance</U>. The Borrower shall give the relevant L/C Issuer and Agent a
notice of any requested Issuance of any Letter of Credit, which shall be effective only if received by such L/C Issuer and Agent not later than 2:00 p.m. on the third Business Day prior to the date of such requested Issuance. Such notice shall be
made in a writing or Electronic Transmission substantially in the form of <U>Exhibit 1.1(b)</U> duly completed or in any other written form acceptable to such L/C Issuer (each, an &#147;<U>L/C Request</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) <U>Reporting Obligations of L/C Issuers</U>. Each L/C Issuer agrees to provide Agent, in form and substance satisfactory to Agent, each
of the following on the following dates: (A)&nbsp;(i)&nbsp;on or prior to any Issuance of any Letter of Credit by such L/C Issuer, (ii)&nbsp;immediately after any drawing under any such Letter of Credit or (iii)&nbsp;immediately after any payment
(or failure to pay when due) by the Borrower of any related L/C Reimbursement Obligation, notice thereof, which shall contain a reasonably detailed description of such Issuance, drawing or payment, and Agent shall provide copies of such notices to
each Lender reasonably promptly after receipt thereof; (B)&nbsp;upon the request of Agent (or any Lender through Agent), copies of any Letter of Credit Issued by such L/C Issuer and any related L/C Reimbursement Agreement and such other documents
and information as may reasonably be requested by Agent; and (C)&nbsp;on the first Business Day of each calendar week, a schedule of the Letters of Credit Issued by such L/C Issuer, in form and substance reasonably satisfactory to Agent, setting
forth the Letter of Credit Obligations for such Letters of Credit outstanding on the last Business Day of the previous calendar week. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) <U>Acquisition of Participations</U>. Upon any Issuance of a Letter of Credit in accordance with the terms of this Agreement resulting
in any increase in the Letter of Credit Obligations, each Lender shall be deemed to have acquired, without recourse or warranty, an undivided interest and participation in such Letter of Credit and the related Letter of Credit Obligations in an
amount equal to its Commitment Percentage of such Letter of Credit Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) <U>Reimbursement Obligations of the Borrower</U>.
The Borrower agrees to pay to the L/C Issuer of any Letter of Credit, or to Agent for the benefit of such L/C Issuer, each L/C Reimbursement Obligation owing with respect to such Letter of Credit no later than the first Business Day after the
Borrower receives notice from such L/C Issuer or from Agent that payment has been made under such Letter of Credit or that such L/C Reimbursement Obligation is otherwise due (the &#147;<U>L/C Reimbursement Date</U>&#148;) with interest thereon
computed as set forth in <U>clause (A)</U>&nbsp;below. In the event that any L/C Reimbursement Obligation is not repaid by the Borrower as provided in this <U>clause (v)</U>&nbsp;(or any such payment by the Borrower is rescinded or set aside for any
reason), such L/C Issuer shall promptly notify Agent of such failure (and, upon receipt of such notice, Agent shall notify each Lender) and, irrespective of whether such notice is given, such L/C Reimbursement Obligation shall be payable on demand
by the Borrower with interest thereon computed (A)&nbsp;from the date on which such L/C Reimbursement Obligation arose to the L/C Reimbursement Date, at the interest rate applicable during such period to Revolving Loans that are Base Rate Loans and
(B)&nbsp;thereafter, until payment in full, at the interest rate applicable during such period to past due Revolving Loans that are Base Rate Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi) <U>Reimbursement Obligations of the Revolving Credit Lenders</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(1) Upon receipt of the notice described in clause (v)&nbsp;above from Agent, each Lender shall pay to Agent for the account of such L/C
Issuer its Commitment Percentage of such Letter of Credit Obligations (as such amount may be increased pursuant to <U>Section&nbsp;1.10(e)(ii)</U>). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(2) By making any payment described in <U>clause (1)</U>&nbsp;above (other than during the
continuation of an Event of Default under <U>Section&nbsp;6.1(f)</U> or <U>6.1(g)</U>), such Lender shall be deemed to have made a Revolving Loan to the Borrower, which, upon receipt thereof by Agent for the benefit of such L/C Issuer, the Borrower
shall be deemed to have used in whole to repay such L/C Reimbursement Obligation. Any such payment that is not deemed a Revolving Loan shall be deemed a funding by such Lender of its participation in the applicable Letter of Credit and the Letter of
Credit Obligation in respect of the related L/C Reimbursement Obligations. Such participation shall not otherwise be required to be funded. Following receipt by any L/C Issuer of any payment from any Lender pursuant to this <U>clause
(vi)</U>&nbsp;with respect to any portion of any L/C Reimbursement Obligation, such L/C Issuer shall promptly pay to Agent, for the benefit of such Lender, all amounts received by such L/C Issuer (or to the extent such amounts shall have been
received by Agent for the benefit of such L/C Issuer, Agent shall promptly pay to such Lender all amounts received by Agent for the benefit of such L/C Issuer) with respect to such portion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vii) <U>Obligations Absolute</U>. The obligations of the Borrower and the Lenders pursuant to <U>clauses</U> <U>(iv)</U>,
<U>(v)</U>&nbsp;and <U>(vi)</U>&nbsp;above shall be absolute, unconditional and irrevocable and performed strictly in accordance with the terms of this Agreement irrespective of (A)&nbsp;(i)&nbsp;the invalidity or unenforceability of any term or
provision in any Letter of Credit, any document transferring or purporting to transfer a Letter of Credit, any Loan Document (including the sufficiency of any such instrument), or any modification to any provision of any of the foregoing,
(ii)&nbsp;any document presented under a Letter of Credit being forged, fraudulent, invalid, insufficient or inaccurate in any respect or failing to comply with the terms of such Letter of Credit or (iii)&nbsp;any loss or delay, including in the
transmission of any document, (B)&nbsp;the existence of any setoff, claim, abatement, recoupment, defense or other right that any Person (including any Credit Party) may have against the beneficiary of any Letter of Credit or any other Person,
whether in connection with any Loan Document or any other Contractual Obligation or transaction, or the existence of any other withholding, abatement or reduction, (C)&nbsp;in the case of the obligations of any Lender, (i)&nbsp;the failure of any
condition precedent set forth in <U>Section&nbsp;2.2</U> to be satisfied (each of which conditions precedent the Lenders hereby irrevocably waive) or (ii)&nbsp;any adverse change in the condition (financial or otherwise) of any Credit Party and
(D)&nbsp;any other act or omission to act or delay of any kind of Agent, any Lender or any other Person or any other event or circumstance whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of this
<U>clause (vii)</U>, constitute a legal or equitable discharge of any obligation of the Borrower or any Lender hereunder. No provision hereof shall be deemed to waive or limit the Borrower&#146;s right to seek repayment of any payment of any L/C
Reimbursement Obligations from the L/C Issuer under the terms of the applicable L/C Reimbursement Agreement or applicable law. Nothing herein shall excuse any L/C Issuer for liability to the extent such liability has resulted primarily from the
gross negligence or willful misconduct of such L/C Issuer under the terms of the applicable L/C Reimbursement Agreement, as determined by a court of competent jurisdiction in a final non-appealable judgment or order. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Swing Loans</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)
<U>Availability</U>. Subject to the terms and conditions of this Agreement and in reliance upon the representations and warranties of the Credit Parties contained herein, the Swingline Lender may, in its sole discretion, make Loans (each a
&#147;<U>Swing Loan</U>&#148;) available to the Borrower under the Aggregate Revolving Loan Commitment from time to time on any Business Day during the period from the Closing Date through the Final Availability Date in an aggregate principal amount
at any time outstanding not to exceed its Swingline Commitment; <U>provided</U>, <U>however</U>, that the Swingline Lender may not make any Swing Loan (x)</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to the extent that after giving effect to such Swing Loan, the aggregate principal amount of all Revolving Loans would exceed the Maximum Revolving Loan Balance and (y)&nbsp;during the period
commencing on the first Business Day after it receives notice from Agent or the Required Lenders that one or more of the conditions precedent contained in <U>Section&nbsp;2.2</U> are not satisfied and ending when such conditions are satisfied or
duly waived. In connection with the making of any Swing Loan, the Swingline Lender may but shall not be required to determine that, or take notice whether, the conditions precedent set forth in <U>Section&nbsp;2.2</U> have been satisfied or waived.
Each Swing Loan shall be a Base Rate Loan and must be repaid as provided herein, but in any event must be repaid in full on the Revolving Termination Date. Within the limits set forth in the first sentence of this <U>clause (i)</U>, amounts of Swing
Loans repaid may be reborrowed under this <U>clause (i)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Borrowing Procedures</U>. In order to request a Swing Loan, the
Borrower shall give to Agent a notice to be received not later than 2:00 p.m. on the day of the proposed Borrowing, which shall be made in a writing or in an Electronic Transmission substantially in the form of <U>Exhibit 1.1(c)</U> or in a writing
in any other form acceptable to Agent duly completed (a &#147;<U>Swingline Request</U>&#148;). In addition, if any Notice of Borrowing of Revolving Loans requests a Borrowing of Base Rate Loans, the Swingline Lender may, notwithstanding anything
else to the contrary herein, make a Swing Loan to the Borrower in an aggregate amount not to exceed such proposed Borrowing, and the aggregate amount of the corresponding proposed Borrowing shall be reduced accordingly by the principal amount of
such Swing Loan. Agent shall promptly notify the Swingline Lender of the details of the requested Swing Loan. Upon receipt of such notice and subject to the terms of this Agreement, the Swingline Lender may make a Swing Loan available to the
Borrower by making the proceeds thereof available to Agent and, in turn, Agent shall make such proceeds available to the Borrower on the date set forth in the relevant Swingline Request or Notice of Borrowing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) <U>Refinancing Swing Loans</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(1) The Swingline Lender may at any time (and shall, no less frequently than once each week) forward a demand to Agent (which Agent shall,
upon receipt, forward to each Lender) that each Lender pay to Agent, for the account of the Swingline Lender, such Lender&#146;s Commitment Percentage of the outstanding Swing Loans (as such amount may be increased pursuant to
<U>Section&nbsp;1.10(e)(ii)</U>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(2) Each Lender shall pay the amount owing by it to Agent for the account of the Swingline Lender on
the Business Day following receipt of the notice or demand therefor. Payments received by Agent after 1:00 p.m. may, in Agent&#146;s discretion, be deemed to be received on the next Business Day. Upon receipt by Agent of such payment (other than
during the continuation of any Event of Default under <U>Section&nbsp;6.1(f)</U> or <U>6.1(g)</U>), such Lender shall be deemed to have made a Revolving Loan to the Borrower, which, upon receipt of such payment by the Swingline Lender from Agent,
the Borrower shall be deemed to have used in whole to refinance such Swing Loan. In addition, regardless of whether any such demand is made, upon the occurrence of any Event of Default under <U>Section&nbsp;6.1(f)</U> or <U>6.1(g)</U>, each Lender
shall be deemed to have acquired, without recourse or warranty, an undivided interest and participation in each Swing Loan in an amount equal to such Lender&#146;s Commitment Percentage of such Swing Loan. If any payment made by any Lender as a
result of any such demand is not deemed a Revolving Loan, such payment shall be deemed a funding by such Lender of such participation. Such participation shall not be otherwise required to be funded. Upon receipt by the Swingline Lender of any
payment from any Lender pursuant to this <U>clause (iii)</U>&nbsp;with respect to any portion of any Swing Loan, the Swingline Lender shall promptly pay over to such Lender all </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
payments of principal (to the extent received after such payment by such Lender) and interest (to the extent accrued with respect to periods after such payment) on account of such Swing Loan
received by the Swingline Lender with respect to such portion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) <U>Obligation to Fund Absolute</U>. Each Lender&#146;s obligations
pursuant to <U>clause (iii)</U>&nbsp;above shall be absolute, unconditional and irrevocable and shall be performed strictly in accordance with the terms of this Agreement under any and all circumstances whatsoever, including (A)&nbsp;the existence
of any setoff, claim, abatement, recoupment, defense or other right that such Lender, any Affiliate thereof or any other Person may have against the Swingline Lender, Agent, any other Lender or L/C Issuer or any other Person, (B)&nbsp;the failure of
any condition precedent set forth in <U>Section&nbsp;2.2</U> to be satisfied or the failure of the Borrower to deliver a Notice of Borrowing (each of which requirements the Lenders hereby irrevocably waive) and (C)&nbsp;any adverse change in the
condition (financial or otherwise) of any Credit Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Incremental Revolving Loan Commitments</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) <U>Requests</U>. The Borrower may, by written notice to Agent, request increases in the Revolving Loan Commitments (each, an
&#147;<U>Incremental Revolving Loan Commitment</U>&#148; and the loans thereunder, &#147;<U>Incremental Revolving Loans</U>&#148;) in Dollars in an aggregate amount not to exceed $180,000,000 for all such Incremental Revolving Loan Commitments;
<U>provided</U> that no commitment of any Lender shall be increased without the consent of such Lender. Such notice shall set forth (A)&nbsp;the amount of the Incremental Revolving Loan Commitment being requested (which shall be in a minimum amount
of $10,000,000 and multiples of $1,000,000 in excess thereof) and (B)&nbsp;the date (an &#147;<U>Incremental Effective Date</U>&#148;) on which such Incremental Revolving Loan Commitment is requested to become effective (which, unless otherwise
agreed by Agent, shall not be less than ten (10)&nbsp;Business Days nor more than sixty (60)&nbsp;days after the date of such notice). The Borrower will first seek Incremental Revolving Credit Commitments from existing Lenders as set forth below
(each of which shall be entitled to agree or decline to participate in its sole discretion). Upon delivery of the applicable Incremental Revolving Credit Commitment request, the requested Incremental Revolving Credit Commitment shall be offered to
all Lenders pro rata according to the Commitment Percentage held by each Lender. If any Lender does not accept the offered Incremental Revolving Credit Commitment in its entirety on a pro rata basis within five (5)&nbsp;Business Days of such offer,
that portion of the Incremental Revolving Credit Commitment not accepted by the any such Lender shall be offered to the other Lenders on a non-pro rata basis. If such other Lenders do not accept the offered Incremental Revolving Credit Commitment in
its entirety on a non-pro rata basis within two (2)&nbsp;Business Days after such offer, such remaining portion of the Incremental Revolving Credit Commitment may be offered by the Borrower to any other banks, financial institutions and other
institutional lenders reasonably acceptable to Agent and each L/C Issuer that is a Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Conditions</U>. No Incremental
Revolving Loan Commitment shall become effective under this <U>Section&nbsp;1.1(d)</U> unless, after giving effect to such Incremental Revolving Loan Commitment, the Incremental Revolving Loans to be made thereunder (assuming that the entire amount
of such Incremental Revolving Loan Commitment is funded), and the application of the proceeds therefrom, (A)&nbsp;no Default or Event of Default shall exist, (B)&nbsp;if a Trigger Event has occurred and is continuing, the Fixed Charge Coverage
Ratio, on a pro forma basis for the twelve-month period ending as of the last day of the most recent month for which financial statements have been or were required to be delivered under <U>Section&nbsp;4.1</U>, is not less than the Minimum Fixed
Charge Coverage Ratio required under <U>Section&nbsp;5.20</U> and (C)&nbsp;Agent shall have received a certificate of a Responsible Officer of the Borrower certifying as to the foregoing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) <U>Terms</U>. Any Incremental Revolving Loans shall be on the same terms (as amended from
time to time) (including all-in pricing (other than closing fees) and maturity date) as, and pursuant to documentation applicable to, the initial Revolving Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) <U>Required Amendments</U>. Each of the parties hereto hereby agrees that, upon the effectiveness of any Incremental Revolving Loan
Commitment, this Agreement shall be amended to the extent (but only to the extent) necessary to reflect the existence of such Incremental Revolving Loan Commitment and the Incremental Revolving Loans evidenced thereby, and any joinder agreement or
amendment may without the consent of the other Lenders effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of Agent and the Borrower, to effectuate the provisions of
this <U>Section&nbsp;1.1(d)</U>, and, for the avoidance of doubt, this <U>Section&nbsp;1.1(d)</U> shall supersede any provisions in <U>Section&nbsp;8.1</U>. From and after each Incremental Effective Date, the Incremental Revolving Loans and
Revolving Loan Commitment established pursuant to this <U>Section&nbsp;1.1(d)</U> shall constitute Loans and Revolving Loan Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and
shall, without limiting the foregoing, benefit equally and ratably from the guarantees and security interests created by the applicable Collateral Documents. The Credit Parties shall take any actions reasonably required by Agent to ensure and/or
demonstrate that the Liens and security interests granted by the applicable Collateral Documents continue to be perfected under the UCC or otherwise after giving effect to the establishment of any such new Incremental Revolving Loans and Incremental
Revolving Credit Commitment, including, without limitation, compliance with <U>Section&nbsp;4.13(c)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.2 <U>Evidence of Loans;
Notes</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Revolving Loans made by each Lender are evidenced by this Agreement and, if requested by such Lender, a Revolving Note
payable to such Lender in an amount equal to such Lender&#146;s Revolving Loan Commitment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Swing Loans made by the Swingline Lender
are evidenced by this Agreement and, if requested by the Swingline Lender, a Swingline Note in an amount equal to the Swingline Commitment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.3 <U>Interest</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)
Subject to <U>Sections</U> <U>1.3(c)</U> and <U>1.3(d)</U>, each Loan shall bear interest on the outstanding principal amount thereof from the date when made at a rate per annum equal to LIBOR or the Base Rate, as the case may be, <U>plus</U> the
Applicable Margin; <U>provided</U> that Swing Loans may not be LIBOR Rate Loans. Each determination of an interest rate by Agent shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. All computations of
fees and interest (other than interest accruing on Base Rate Loans) payable under this Agreement shall be made on the basis of a 360-day year and actual days elapsed. All computations of interest accruing on Base Rate Loans payable under this
Agreement shall be made on the basis of a 365-day year (366 days in the case of a leap year) and actual days elapsed. Interest and fees shall accrue during each period during which interest or such fees are computed from the first day thereof to the
last day thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Interest on each Loan shall be paid in arrears on each Interest Payment Date. Interest shall
also be paid on the date of any payment or prepayment of Revolving Loans on the Revolving Termination Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) At the election of Agent
or the Required Lenders while any Event of Default exists (or automatically while any Event of Default under <U>Section&nbsp;6.1(a)</U>, <U>6.1(f)</U> or <U>6.1(g)</U> exists), the Borrower shall pay interest (after as well as before entry of
judgment thereon to the extent permitted by law) on the Loans from and after the date of occurrence of such Event of Default, at a rate per annum which is determined by adding two percent (2.0%)&nbsp;per annum to the Applicable Margin then in effect
for such Loans (plus LIBOR or the Base Rate, as the case may be). All such interest shall be payable on demand of Agent or the Required Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Anything herein to the contrary notwithstanding, the obligations of the Borrower hereunder shall be subject to the limitation that
payments of interest shall not be required, for any period for which interest is computed hereunder, to the extent (but only to the extent) that contracting for or receiving such payment by the respective Lender would be contrary to the provisions
of any law applicable to such Lender limiting the highest rate of interest which may be lawfully contracted for, charged or received by such Lender, and in such event the Borrower shall pay such Lender interest at the highest rate permitted by
applicable law (&#147;<U>Maximum Lawful Rate</U>&#148;); <U>provided</U>, <U>however</U>, that if at any time thereafter the rate of interest payable hereunder is less than the Maximum Lawful Rate, the Borrower shall continue to pay interest
hereunder at the Maximum Lawful Rate until such time as the total interest received by Agent, on behalf of Lenders, is equal to the total interest that would have been received had the interest payable hereunder been (but for the operation of this
paragraph) the interest rate payable since the Closing Date as otherwise provided in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.4 <U>Loan Accounts</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Agent, on behalf of the Lenders, shall record on its books and records the amount of each Loan made, the interest rate applicable, all
payments of principal and interest thereon and the principal balance thereof from time to time outstanding. Agent shall deliver to the Borrower on a monthly basis a loan statement setting forth such record for the immediately preceding calendar
month. Such record shall, absent manifest error, be conclusive evidence of the amount of the Loans made by the Lenders to the Borrower and the interest and payments thereon. Any failure to so record or any error in doing so, or any failure to
deliver such loan statement shall not, however, limit or otherwise affect the obligation of the Borrower hereunder (and under any Note) to pay any amount owing with respect to the Loans or provide the basis for any claim against Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Agent, acting as a non-fiduciary agent of the Borrower solely for tax purposes and solely with respect to the actions described in this
<U>Section&nbsp;1.4(b)</U>, shall establish and maintain at its address referred to in <U>Section&nbsp;8.2</U> (or at such other address as Agent may notify the Borrower) (A)&nbsp;a record of ownership (the &#147;<U>Register</U>&#148;) in which
Agent agrees to register by book entry the interests (including any rights to receive payment hereunder) of Agent, each Lender and each L/C Issuer in the Revolving Loans, Swing Loans, L/C Reimbursement Obligations, and Letter of Credit Obligations,
each of their obligations under this Agreement to participate in each Loan, Letter of Credit, Letter of Credit Obligations, and L/C Reimbursement Obligations, and any assignment of any such interest, obligation or right and (B)&nbsp;accounts in the
Register in accordance with its usual practice in which it shall record (1)&nbsp;the names and addresses of the Lenders and the L/C Issuers (and each change thereto pursuant to <U>Sections 8.9</U> and <U>8.22</U>), (2)&nbsp;the Revolving Loan
Commitment of each Lender, (3)&nbsp;the amount of each Loan and each funding of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
any participation described in <U>clause (A)</U>&nbsp;above, and for LIBOR Rate Loans, the Interest Period applicable thereto, (4)&nbsp;the amount of any principal or interest due and payable or
paid, (5)&nbsp;the amount of the L/C Reimbursement Obligations due and payable or paid in respect of Letters of Credit and (6)&nbsp;any other payment received by Agent from the Borrower or other Credit Party and its application to the Obligations.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding anything to the contrary contained in this Agreement, the Loans (including any Notes evidencing such Loans and the
corresponding obligations to participate in Letter of Credit Obligations and Swing Loans) and the L/C Reimbursement Obligations are registered obligations, the right, title and interest of the Lenders and the L/C Issuers and their assignees in and
to such Loans or L/C Reimbursement Obligations, as the case may be, shall be transferable only upon notation of such transfer in the Register and no assignment thereof shall be effective until recorded therein. This <U>Section&nbsp;1.4</U> and
<U>Section&nbsp;8.9</U> shall be construed so that the Loans and L/C Reimbursement Obligations are at all times maintained in &#147;registered form&#148; within the meaning of Sections 163(f), 871(h)(2) and 881(c)(2) of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Credit Parties, Agent, the Lenders and the L/C Issuers shall treat each Person whose name is recorded in the Register as a Lender or
L/C Issuer, as applicable, for all purposes of this Agreement. Information contained in the Register with respect to any Lender or any L/C Issuer shall be available for access by the Borrower, Agent, such Lender or such L/C&nbsp;Issuer during normal
business hours and from time to time upon at least one Business Day&#146;s prior notice. No Lender or L/C Issuer shall, in such capacity, have access to or be otherwise permitted to review any information in the Register other than information with
respect to such Lender or L/C Issuer unless otherwise agreed by Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.5 <U>Procedure for Revolving Credit Borrowing</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Borrowing of a Revolving Loan shall be made upon the Borrower&#146;s irrevocable (subject to <U>Section&nbsp;9.5</U>) written notice
delivered to Agent substantially in the form of a Notice of Borrowing or in a writing in any other form acceptable to Agent, which notice must be received by Agent prior to 2:00 p.m. (i)&nbsp;on the date which is three (3)&nbsp;Business Days prior
to the requested Borrowing date in the case of each LIBOR Rate Loan and (ii)&nbsp;on the same Business Day as the requested Borrowing date of each Base Rate Loan. Such Notice of Borrowing shall specify: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the amount of the Borrowing (which shall be in an aggregate minimum principal amount of $100,000); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) the requested Borrowing date, which shall be a Business Day; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) whether the Borrowing is to be comprised of LIBOR Rate Loans or Base Rate Loans; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) if the Borrowing is to be comprised of LIBOR Rate Loans, the Interest Period applicable to such Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon receipt of a Notice of Borrowing, Agent will promptly notify each Lender of such Notice of Borrowing and of the amount of such
Lender&#146;s Commitment Percentage of the Borrowing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Unless Agent is otherwise directed in writing by the Borrower, the proceeds of
each requested Borrowing after the Closing Date will be made available to the Borrower by Agent by wire transfer of such amount to the Borrower pursuant to the wire transfer instructions specified on the signature page hereto. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.6 <U>Conversion and Continuation Elections</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Borrower shall have the option to (i)&nbsp;request that any Revolving Loan be made as a LIBOR Rate Loan, (ii)&nbsp;convert at any time
all or any part of outstanding Loans (other than Swing Loans) from Base Rate Loans to LIBOR Rate Loans, (iii)&nbsp;convert any LIBOR Rate Loan to a Base Rate Loan, subject to <U>Section&nbsp;9.4</U> if such conversion is made prior to the expiration
of the Interest Period applicable thereto, or (iv)&nbsp;continue all or any portion of any Loan as a LIBOR Rate Loan upon the expiration of the applicable Interest Period. Any Loan or group of Loans having the same proposed Interest Period to be
made or continued as, or converted into, a LIBOR Rate Loan must be in a minimum amount of $1,000,000. Any such election must be made by Borrower by 2:00 p.m. on the third Business Day prior to (1)&nbsp;the date of any proposed Revolving Loan which
is to bear interest at LIBOR, (2)&nbsp;the end of each Interest Period with respect to any LIBOR Rate Loans to be continued as such, or (3)&nbsp;the date on which the Borrower wishes to convert any Base Rate Loan to a LIBOR Rate Loan for an Interest
Period designated by the Borrower in such election. If no election is received with respect to a LIBOR Rate Loan by 2:00 p.m. on the third Business Day prior to the end of the Interest Period with respect thereto, that LIBOR Rate Loan shall be
converted to a Base Rate Loan at the end of its Interest Period. The Borrower must make such election by notice to Agent in writing, including, at Borrower&#146;s option, by Electronic Transmission. In the case of any conversion or continuation,
such election must be made pursuant to a written notice (a &#147;<U>Notice of Conversion/Continuation</U>&#148;) substantially in the form of <U>Exhibit 1.6</U> or in a writing in any other form acceptable to Agent. No Loan shall be made, converted
into or continued as a LIBOR Rate Loan, if the conditions to Loans and Letters of Credit in <U>Section&nbsp;2.2</U> are not met at the time of such proposed conversion or continuation and Agent or Required Lenders have determined not to make or
continue any Loan as a LIBOR Rate Loan as a result thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon receipt of a Notice of Conversion/Continuation, Agent will promptly
notify each Lender thereof. In addition, Agent will, with reasonable promptness, notify the Borrower and the Lenders of each determination of LIBOR; provided that any failure to do so shall not relieve the Borrower of any liability hereunder or
provide the basis for any claim against Agent. All conversions and continuations shall be made pro rata according to the respective outstanding principal amounts of the Loans held by each Lender with respect to which the notice was given. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding any other provision contained in this Agreement, after giving effect to any Borrowing, or to any continuation or
conversion of any Loans, there shall not be more than nine (9)&nbsp;different Interest Periods in effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.7 <U>Prepayments and
Reductions in Revolving Loan Commitments</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Prepayments Generally</U>. The Borrower may, at any time, prepay the Loans in whole
or in part, in each instance, without penalty or premium except as provided in <U>Section&nbsp;9.4</U>. Subject to <U>Section&nbsp;1.9(c)</U>, any prepayments shall be applied <U>first</U> to prepay outstanding Swing Loans<B>,</B> <U>second</U> to
prepay outstanding Revolving Loans without permanent reduction of the Aggregate Revolving Loan Commitment and <U>third</U> to cash collateralize Letters of Credit in an amount determined in accordance with <U>Section&nbsp;6.4</U>. To the extent
permitted by the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
foregoing sentence, amounts prepaid shall be applied first to any Base Rate Loans then outstanding and then to outstanding LIBOR Rate Loans with the shortest Interest Periods remaining. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Reductions in Revolving Loan Commitments</U>. The Borrower may at any time upon at least two (2)&nbsp;Business Days&#146; (or such
shorter period as is acceptable to Agent) prior written notice by the Borrower to Agent permanently reduce the Aggregate Revolving Loan Commitment; provided that such reductions shall be in an amount greater than or equal to $5,000,000. All
reductions of the Aggregate Revolving Loan Commitment shall be allocated pro rata among all Lenders with a Revolving Loan Commitment. A permanent reduction of the Aggregate Revolving Loan Commitment shall not require a corresponding pro rata
reduction in the L/C Sublimit or the Swingline Commitment; provided that the L/C Sublimit and/or the Swingline Commitment, as applicable, shall be permanently reduced by the amount thereof in excess of the Aggregate Revolving Loan Commitment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Notices</U>. Notice of prepayment or commitment reduction pursuant to <U>clauses</U>&nbsp;<U>(a)</U> and <U>(b)</U>&nbsp;above shall
not thereafter be revocable by the Borrower and Agent will promptly notify each Lender thereof and of such Lender&#146;s Commitment Percentage of such prepayment or reduction. The payment amount specified in a notice of prepayment or reduction shall
be due and payable on the date specified therein. Together with each prepayment under this <U>Section&nbsp;1.7</U>, the Borrower shall pay any amounts required pursuant to <U>Section&nbsp;9.4</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Application of Funds during a Dominion Period</U>. During the continuance of a Dominion Period prior to the occurrence of an Event of
Default, all funds on deposit in accounts required to be subject to &#147;springing&#148; Control Agreements pursuant to <U>Section&nbsp;4.11</U> and transferred to or at the direction of Agent following delivery of an &#147;Access Termination
Notice&#148; (or similar notice) thereunder, shall be applied to the Loans in the same manner as proceeds of prepayments described in <U>clause (a)</U>&nbsp;of this <U>Section&nbsp;1.7</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.8 <U>Fees</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)
<U>Fees</U>. The Borrower shall pay to Agent, for Agent&#146;s own account, fees in the amounts and at the times set forth in a letter agreement between the Borrower and Agent dated of even date herewith (as amended from time to time, the
&#147;<U>Fee Letter</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Unused Commitment Fee</U>. The Borrower shall pay to Agent a fee (the &#147;<U>Unused Commitment
Fee</U>&#148;) for the account of each Lender in an amount equal to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the average daily amount of the Revolving Loan Commitment of
such Lender during the preceding calendar month, <U>less</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) the sum of (x)&nbsp;the average daily balance of all Revolving Loans
held by such Lender <U>plus</U> (y)&nbsp;the average daily amount of Letter of Credit Obligations held by such Lender, plus (z)&nbsp;in the case of the Swingline Lender, the average daily balance of all outstanding Swing Loans, in each case, during
the preceding calendar month; <U>provided</U> that in no event shall the amount computed pursuant to <U>clauses</U>&nbsp;<U>(i)</U> and <U>(ii)</U> be less than zero, <U>multiplied</U> <U>by</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) 0.375%&nbsp;per annum. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Unused
Commitment Fee paid by the Borrower will be equal to the sum of all of the fees due to the Lenders, subject to <U>Section&nbsp;1.10(e)(vi)</U>. The Unused Commitment Fee shall be payable </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
monthly in arrears on the first day of each calendar month following the date hereof. The Unused Commitment Fee provided in this <U>Section&nbsp;1.8(b)</U> shall accrue at all times from and
after the execution and delivery of this Agreement. For purposes of this <U>Section&nbsp;1.8(b)</U>, the Revolving Loan Commitment of any Non-Funding Lender shall be deemed to be zero. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Letter of Credit Fee</U>. The Borrower agrees to pay to Agent for the ratable benefit of the Lenders, as compensation to such Lenders
for Letter of Credit Obligations incurred hereunder, (i)&nbsp;without duplication of costs and expenses otherwise payable to Agent or Lenders hereunder or fees otherwise paid by the Borrower, all reasonable costs and expenses incurred by Agent or
any Lender on account of such Letter of Credit Obligations, and (ii)&nbsp;for each calendar month during which any Letter of Credit Obligation shall remain outstanding, a fee (the &#147;<U>Letter of Credit Fee</U>&#148;) in an amount equal to the
product of the daily undrawn face amount of all Letters of Credit Issued, guaranteed or supported by risk participation agreements multiplied by a per annum rate equal to the Applicable Margin with respect to Revolving Loans which are LIBOR Rate
Loans; <U>provided</U>, <U>however</U>, at Agent&#146;s or Required Lenders&#146; option, while an Event of Default exists (or automatically while an Event of Default under <U>Section&nbsp;6.1(a)</U>, <U>6.1(f)</U> or <U>6.1(g)</U> exists), such
rate shall be increased by two percent (2.00%)&nbsp;per annum. Such fee shall be paid to Agent for the benefit of the Lenders in arrears, on the first day of each calendar month and on the date on which all L/C Reimbursement Obligations have been
discharged. In addition, the Borrower shall pay to Agent, any L/C Issuer or any prospective L/C Issuer, as appropriate, on demand, such L/C Issuer&#146;s or prospective L/C Issuer&#146;s customary fees at then prevailing rates, without duplication
of fees otherwise payable hereunder (including all per annum fees), charges and expenses of such L/C Issuer or prospective L/C Issuer in respect of the application for, and the Issuance, negotiation, acceptance, amendment, transfer and payment of,
each Letter of Credit or otherwise payable pursuant to the application and related documentation under which such Letter of Credit is Issued. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.9 <U>Payments by the Borrower</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) All payments (including prepayments) to be made by each Credit Party on account of principal, interest, fees and other amounts required
hereunder shall be made without setoff, recoupment, counterclaim or deduction of any kind, shall, except as otherwise expressly provided herein, be made to Agent (for the ratable account of the Persons entitled thereto) at the address for payment
specified in the signature page hereof in relation to Agent (or such other address as Agent may from time to time specify in accordance with <U>Section&nbsp;8.2</U>), including payments utilizing the ACH system, and shall be made in Dollars and by
wire transfer or ACH transfer in immediately available funds (which shall be the exclusive means of payment hereunder), no later than 1:00 p.m. on the date due. Any payment which is received by Agent later than 1:00 p.m. may, in Agent&#146;s
discretion, be deemed to have been received on the immediately succeeding Business Day and any applicable interest or fee shall continue to accrue. The Borrower and each other Credit Party hereby irrevocably waives the right to direct the
application during the continuance of an Event of Default of any and all payments in respect of any Obligation and any proceeds of Collateral. The Borrower hereby authorizes Agent and each Lender to make a Revolving Loan (which shall be a Base Rate
Loan and which may be a Swing Loan) to pay (i)&nbsp;interest, principal (including Swing Loans), L/C Reimbursement Obligations, agent fees, Unused Commitment Fees and Letter of Credit Fees, in each instance, on the date due, or (ii)&nbsp;after five
(5)&nbsp;days&#146; prior notice to the Borrower, other fees, costs or expenses payable by the Borrower or any other Credit Parties hereunder or under the other Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Subject to the provisions set forth in the definition of &#147;Interest Period&#148; herein, if any payment hereunder shall be stated to
be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of interest or fees, as the case may be. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Subject to the terms of the Intercreditor Agreement, during the continuance of an Event of
Default, Agent may, and upon the direction of Required Lenders, shall, apply any and all payments received by Agent in respect of any Obligation in accordance with <U>clauses</U> <U>first</U> through <U>sixth</U> below. Notwithstanding any provision
herein to the contrary, all payments made by Credit Parties to Agent after any or all of the Obligations have been accelerated (so long as such acceleration has not been rescinded), including proceeds of Collateral, shall be applied as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>first</U>, to payment of costs, expenses and indemnification, including Attorney Costs, of Agent payable or reimbursable by
the Credit Parties under the Loan Documents; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>second</U>, to payment of costs, expenses and indemnification, including
Attorney Costs, of Lenders payable or reimbursable by the Borrower under this Agreement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>third</U>, to payment of all
accrued unpaid interest on the Obligations and fees owed to Agent, Lenders and L/C Issuers; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>fourth</U>, to
(i)&nbsp;payment of principal of the Obligations, including, without limitation, L/C Reimbursement Obligations then due and payable; <U>provided</U>, <U>however</U>, that, this <U>clause&nbsp;(i)</U> shall not include any Bank Product Obligations or
Obligations under any Secured Rate Contract, (ii)&nbsp;payment of any Obligations under any Secured Rate Contract (solely to the extent of any Reserve with respect to such Secured Rate Contract) and (iii)&nbsp;cash collateralization of unmatured L/C
Reimbursement Obligations to the extent not then due and payable); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>fifth</U>, to payment of any other amounts owing
constituting Obligations; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>sixth</U>, any remainder shall be for the account of and paid to whoever may be lawfully
entitled thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In carrying out the foregoing, (i)&nbsp;amounts received shall be applied in the numerical order provided until
exhausted prior to the application to the next succeeding category, (ii)&nbsp;each of the Lenders or other Persons entitled to payment shall receive an amount equal to its pro rata share of amounts available to be applied pursuant to clauses third,
fourth and fifth above and (iii)&nbsp;no payments by a Guarantor and no proceeds of Collateral of a Guarantor shall be applied to Excluded Rate Contract Obligations of such Guarantor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.10 <U>Payments by the Lenders to Agent; Settlement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Agent may, on behalf of Lenders, disburse funds to the Borrower for Loans requested. Each Lender shall reimburse Agent on demand for all
funds disbursed on its behalf by Agent, or if Agent so requests, each Lender will remit to Agent its Commitment Percentage of any Loan before Agent disburses same to the Borrower. If Agent elects to require that each Lender make funds available to
Agent prior to disbursement by Agent to the Borrower, Agent shall advise each Lender by telephone or fax of the amount of such Lender&#146;s Commitment Percentage of the Loan requested by the Borrower no later than the Business Day prior to (or, in
the case of same-day Borrowings, on) the scheduled Borrowing date applicable thereto, and each such Lender shall pay Agent such Lender&#146;s Commitment Percentage of such requested Loan, in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
same day funds, by wire transfer to Agent&#146;s account, as set forth on Agent&#146;s signature page hereto, no later than 1:00 p.m. on such scheduled Borrowing date. Nothing in this
<U>Section&nbsp;1.10(a)</U> or elsewhere in this Agreement or the other Loan Documents, including the remaining provisions of <U>Section&nbsp;1.10</U>, shall be deemed to require Agent to advance funds on behalf of any Lender or to relieve any
Lender from its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights that Agent, any Lender or the Borrower may have against any Lender as a result of any default by such Lender hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) At least once each calendar week or more frequently at Agent&#146;s election (each, a &#147;<U>Settlement Date</U>&#148;), Agent shall
advise each Lender by telephone or fax of the amount of such Lender&#146;s Commitment Percentage of principal, interest and fees paid for the benefit of Lenders with respect to each applicable Loan. Agent shall pay to each Lender such Lender&#146;s
Commitment Percentage (except as otherwise provided in <U>Section&nbsp;1.1(b)(vi)</U>, <U>Section&nbsp;1.10(e)</U> and <U>Section&nbsp;8.9(g)</U>) of principal, interest and fees paid by the Borrower since the previous Settlement Date for the
benefit of such Lender on the Loans held by it. Such payments shall be made by wire transfer to such Lender not later than 2:00 p.m. on the next Business Day following each Settlement Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Availability of Lender&#146;s Commitment Percentage</U>. Agent may assume that each Lender will make its Commitment Percentage of each
Revolving Loan available to Agent on each Borrowing date. If such Commitment Percentage is not, in fact, paid to Agent by such Lender when due, Agent will be entitled to recover such amount on demand from such Lender without setoff, counterclaim or
deduction of any kind. If any Lender fails to pay the amount of its Commitment Percentage forthwith upon Agent&#146;s demand, Agent shall promptly notify the Borrower and the Borrower shall immediately repay such amount to Agent. Nothing in this
<U>Section&nbsp;1.10(c)</U> shall be deemed to require Agent to advance funds on behalf of any Lender or to relieve any Lender from its obligation to fulfill its Revolving Loan Commitment hereunder or to prejudice any rights that the Borrower may
have against any Lender as a result of any default by such Lender hereunder. Without limiting the provisions of <U>Section&nbsp;1.10(b)</U>, to the extent that Agent advances funds to the Borrower on behalf of any Lender and is not reimbursed
therefor on the same Business Day as such advance is made, Agent shall be entitled to retain for its account all interest accrued on such advance from the date such advance was made until reimbursed by the applicable Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Return of Payments</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) If Agent pays an amount to a Lender under this Agreement in the belief or expectation that a related payment has been or will be received
by Agent from the Borrower and such related payment is not received by Agent, then Agent will be entitled to recover such amount from such Lender on demand without setoff, counterclaim or deduction of any kind. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) If Agent reasonably determines at any time that any amount received by Agent under this Agreement or any other Loan Document must be
returned to any Credit Party or paid to any other Person pursuant to any insolvency law or otherwise, then, notwithstanding any other term or condition of this Agreement or any other Loan Document, Agent will not be required to distribute any
portion thereof to any Lender. In addition, each Lender will repay to Agent on demand any portion of such amount that Agent has distributed to such Lender, together with interest at such rate, if any, as Agent is required to pay to the Borrower or
such other Person, without setoff, counterclaim or deduction of any kind, and Agent will be entitled to set-off against future distributions to such Lender any such amounts (with interest) that are not repaid on demand. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Non-Funding Lenders; Procedures</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) <U>Responsibility</U>. The failure of any Non-Funding Lender to make any Revolving Loan, Letter of Credit Obligation or any payment
required by it, or to make any payment required by it under any Loan Document, or to fund any purchase of any participation to be made or funded by it (including, without limitation, with respect to any Swing Loan) on the date specified therefor
shall not relieve any other Lender of its obligations to make such loan, fund the purchase of any such participation, or make any other such required payment on such date, and neither Agent nor, other than as expressly set forth herein, any other
Lender shall be responsible for the failure of any Non-Funding Lender to make a loan, fund the purchase of a participation or make any other required payment under any Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Reallocation</U>. If any Lender is a Non-Funding Lender, all or a portion of such Non-Funding Lender&#146;s Letter of Credit
Obligations (unless such Lender is the L/C Issuer that Issued such Letter of Credit) and reimbursement obligations with respect to Swing Loans shall, at Agent&#146;s election at any time or upon any L/C Issuer&#146;s or Swingline Lender&#146;s, as
applicable, written request delivered to Agent (whether before or after the occurrence of any Default or Event of Default), be reallocated to and assumed by the Lenders that are not Non-Funding Lenders or Impacted Lenders pro rata in accordance with
their Commitment Percentages of the Aggregate Revolving Loan Commitment (calculated as if the Non-Funding Lender&#146;s Commitment Percentage was reduced to zero and each other Lender&#146;s (other than any other Non-Funding Lender&#146;s or
Impacted Lender&#146;s) Commitment Percentage had been increased proportionately); <U>provided</U> that no Lender shall be reallocated any such amounts or be required to fund any amounts that would cause the sum of its outstanding Revolving Loans,
outstanding Letter of Credit Obligations, amounts of its participations in Swing Loans and its pro rata share of unparticipated amounts in Swing Loans to exceed its Revolving Loan Commitment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) <U>Voting Rights</U>. Notwithstanding anything set forth herein to the contrary, including <U>Section&nbsp;8.1</U>, a Non-Funding
Lender shall not have any voting or consent rights under or with respect to any Loan Document or constitute a &#147;Lender&#148; (or be, or have its Loans and Revolving Loan Commitment, included in the determination of &#147;Required Lenders&#148;,
&#147;Supermajority Lenders&#148; or &#147;Lenders directly affected&#148; pursuant to <U>Section&nbsp;8.1</U>) for any voting or consent rights under or with respect to any Loan Document, provided that (A)&nbsp;the Revolving Loan Commitment of a
Non-Funding Lender may not be increased, extended or reinstated, (B)&nbsp;the principal of a Non-Funding Lender&#146;s Loans may not be reduced or forgiven, and (C)&nbsp;the interest rate applicable to Obligations owing to a Non-Funding Lender may
not be reduced in such a manner that by its terms affects such Non-Funding Lender more adversely than other Lenders, in each case without the consent of such Non-Funding Lender. Moreover, for the purposes of determining Required Lenders,
Supermajority Lenders, the Loans, Letter of Credit Obligations, and Revolving Loan Commitments held by Non-Funding Lenders shall be excluded from the total Loans and Revolving Loan Commitments outstanding. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) <U>Borrower Payments to a Non-Funding Lender</U>. Agent shall be authorized to use all payments received by Agent for the benefit of any
Non-Funding Lender pursuant to this Agreement to pay in full the Aggregate Excess Funding Amount to the appropriate Secured Parties. Following such payment in full of the Aggregate Excess Funding Amount, Agent shall be entitled to hold such funds as
cash collateral in a non-interest bearing account up to an amount equal to such Non-Funding Lender&#146;s unfunded Revolving Loan </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Commitment and to use such amount to pay such Non-Funding Lender&#146;s funding obligations hereunder until the occurrence of the Facility Termination Date. Upon any such unfunded obligations
owing by a Non-Funding Lender becoming due and payable, Agent shall be authorized to use such cash collateral to make such payment on behalf of such Non-Funding Lender. With respect to such Non-Funding Lender&#146;s failure to fund Revolving Loans
or purchase participations in Letters of Credit or Letter of Credit Obligations, any amounts applied by Agent to satisfy such funding shortfalls shall be deemed to constitute a Revolving Loan or amount of the participation required to be funded and,
if necessary to effectuate the foregoing, the other Lenders shall be deemed to have sold, and such Non-Funding Lender shall be deemed to have purchased, Revolving Loans or Letter of Credit participation interests from the other Lenders until such
time as the aggregate amount of the Revolving Loans and participations in Letters of Credit and Letter of Credit Obligations are held by the Lenders in accordance with their Commitment Percentages of the Aggregate Revolving Loan Commitment. Any
amounts owing by a Non-Funding Lender to Agent which are not paid when due shall accrue interest at the interest rate applicable during such period to Revolving Loans that are Base Rate Loans. In the event that Agent is holding cash collateral of a
Non-Funding Lender that cures pursuant to <U>clause&nbsp;(v)</U> below or ceases to be a Non-Funding Lender pursuant to the definition of Non-Funding Lender, Agent shall return the unused portion of such cash collateral to such Lender. The
&#147;<U>Aggregate Excess Funding Amount</U>&#148; of a Non-Funding Lender shall be the aggregate amount of (A)&nbsp;all unpaid obligations owing by such Lender to Agent, L/C Issuers, Swingline Lender, and other Lenders under the Loan Documents,
including such Lender&#146;s pro rata share of all Revolving Loans, Letter of Credit Obligations and Swing Loans, <U>plus</U>, without duplication, (B)&nbsp;all amounts of such Non-Funding Lender&#146;s Letter of Credit Obligations and reimbursement
obligations with respect to Swing Loans reallocated to other Lenders pursuant to <U>Section&nbsp;1.10(e)(ii)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) <U>Cure</U>. A
Lender may cure its status as a Non-Funding Lender under <U>clause&nbsp;(a)</U> of the definition of Non-Funding Lender if such Lender (A)&nbsp;fully pays to Agent, on behalf of the applicable Secured Parties, the Aggregate Excess Funding Amount,
plus all interest due thereon and (B)&nbsp;timely funds the next Revolving Loan required to be funded by such Lender or makes the next reimbursement required to be made by such Lender. Any such cure shall not relieve any Lender from liability for
breaching its contractual obligations hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi) <U>Fees</U>. A Lender that is a Non-Funding Lender pursuant to clause (a)&nbsp;of
the definition of Non-Funding Lender shall not earn and shall not be entitled to receive, and the Borrower shall not be required to pay, such Lender&#146;s portion of the Unused Commitment Fee during the time such Lender is a Non-Funding Lender
pursuant to <U>clause&nbsp;(a)</U> of the definition thereof. In the event that any reallocation of Letter of Credit Obligations occurs pursuant to <U>Section&nbsp;1.10(e)(ii)</U>, during the period of time that such reallocation remains in effect,
the Letter of Credit Fee payable with respect to such reallocated portion shall be payable to (A)&nbsp;all Lenders based on their pro rata share of such reallocation or (B)&nbsp;to the L/C Issuer for any remaining portion not reallocated to any
other Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Procedures</U>. Agent is hereby authorized by each Credit Party and each other Secured Party to establish
procedures (and to amend such procedures from time to time) to facilitate administration and servicing of the Loans and other matters incidental thereto. Without limiting the generality of the foregoing, Agent is hereby authorized to establish
procedures to make available or deliver, or to accept, notices, documents and similar items on, by posting to or submitting and/or completion on, E-Systems. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.11 <U>Eligible Accounts</U>. All of the Accounts owned by the Borrower, Listerhill and AEMS and properly reflected as &#147;Eligible
Accounts&#148; in the most recent Borrowing Base </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Certificate delivered by the Borrower to Agent shall be &#147;Eligible Accounts&#148; for purposes of this Agreement, except any Account to which any of the exclusionary criteria set forth below
applies. Agent shall have the right to establish, modify or eliminate Reserves against Eligible Accounts from time to time in its Permitted Discretion upon three (3)&nbsp;days prior notice to the Borrower; <U>provided</U>, <U>however</U>, that for
purposes of determining the Maximum Revolving Loan Amount (other than for purposes of <U>Section&nbsp;1.1(a)(iv)</U>, with which the Borrower shall be afforded three (3)&nbsp;days to comply in such circumstances) the establishment, modification or
elimination of any Reserve shall be deemed effective immediately upon such notice. In addition, Agent reserves the right, at any time and from time to time after the Closing Date, to adjust any of the applicable criteria and to establish new
criteria with respect to Eligible Accounts, in its Permitted Discretion, subject to the approval of Supermajority Lenders in the case of adjustments or new criteria which have the effect of making more credit available; <U>provided</U> that any
adjustments or establishment of new criteria that has the effect of making less credit available shall be based on either&nbsp;(i) an event, condition or other circumstance arising after the Closing Date or (ii)&nbsp;an event, condition or other
circumstance existing on the Closing Date to the extent Agent was not given written notice thereof by the Borrower prior to the Closing Date. Eligible Accounts shall not include the following Accounts of the Borrower, Listerhill and AEMS: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Accounts &#150; Past Due</U>. Accounts that are not paid within the earlier of sixty (60)&nbsp;days following its due date or ninety
(90)&nbsp;days following its original invoice date; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Cross Aged Accounts</U>. Accounts that are the obligations of an Account
Debtor if fifty percent (50%)&nbsp;or more of the Dollar amount of all Accounts owing by that Account Debtor are ineligible under the other criteria set forth in this <U>Section&nbsp;1.11</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Foreign Accounts</U>. Accounts that are the obligations of an Account Debtor located in a foreign country other than Canada unless
(i)&nbsp;payment thereof is assured by a letter of credit assigned and delivered to Agent, satisfactory to Agent as to form, amount and Issuer or (ii)&nbsp;such Account is an Eligible Foreign Account; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Government Accounts</U>. Accounts that are the obligation of an Account Debtor that is the United States government or a political
subdivision thereof, or any state, county or municipality or department, agency or instrumentality thereof unless Agent, in its sole discretion, has agreed to the contrary in writing, or the applicable Credit Party has complied with respect to such
obligation with the Federal Assignment of Claims Act of 1940, or any applicable state, county or municipal law restricting the assignment thereof with respect to such obligation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Contra Accounts</U>. Accounts to the extent the Borrower or any Subsidiary of Holdings is liable for goods sold or services rendered
by, or other amounts owing to, the applicable Account Debtor to the Borrower or any Subsidiary of Holdings, but only to the extent of the potential offset; <U>provided</U> that, if the related Account Debtor with respect to any such Account has
entered into a no-offset agreement that Agent has approved in writing in its sole discretion, such Account shall not be included as an Eligible Account pursuant to this clause solely to the extent such Account Debtor has any right of setoff after
giving effect to such no off-set agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Chargebacks/Partial Payments/Disputed</U>. Any Account to the extent that any defense,
counterclaim, setoff or dispute is asserted as to such Account; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Inter-Company/Affiliate Accounts</U>. Accounts that arise from a
sale to any employee or Affiliate of any Credit Party; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Credit Risk</U>. Accounts that are otherwise determined to be unacceptable by Agent based
on credit or collateral considerations in its Permitted Discretion, upon the delivery of prior written notice of such determination to the Borrower; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Unbilled</U>. Accounts with respect to which an invoice, reasonably acceptable to Agent in form and substance, has not been sent to the
applicable Account Debtor; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Defaulted Accounts; Bankruptcy</U>. Accounts where: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the Account Debtor obligated upon such Account suspends business, makes a general assignment for the benefit of creditors or fails to pay
its debts generally as they come due; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) a petition is filed by or against any Account Debtor obligated upon such Account under any
bankruptcy law or any other federal, state or foreign (including any provincial) receivership, insolvency relief or other law or laws for the relief of debtors; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Progress Billing</U>. Accounts (i)&nbsp;as to which the Borrower, Listerhill or AEMS, as applicable, is not able to bring suit or
otherwise enforce its remedies against the Account Debtor through judicial process, or (ii)&nbsp;if the Account represents a progress billing consisting of an invoice for goods sold or used or services rendered pursuant to a contract under which the
Account Debtor&#146;s obligation to pay that invoice is subject to completion of further performance by any Subsidiary of Holdings under such contract or is subject to the equitable lien of a surety bond issuer; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Bill and Hold</U>. Accounts that arise with respect to goods that are sold on a bill-and-hold basis; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>C.O.D.</U>. Accounts that arise with respect to goods that are sold on a cash-on-delivery basis; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) <U>Credit Limit</U>. Accounts to the extent such Account exceeds any credit limit established by Agent, in its Permitted Discretion,
following prior notice of such limit by Agent to the Borrower; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) <U>Non-Acceptable Alternative Currency</U>. Accounts that are payable
in any currency other than United States Dollars; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) <U>Other Liens Against Receivables</U>. Accounts that are subject to any right,
claim, Lien or other interest of any other Person, other than Liens in favor of Agent securing the Obligations and Liens permitted by <U>Sections</U>&nbsp;<U>5.1(c)</U>, <U>(f)</U>&nbsp;and <U>(p)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) <U>Conditional Sale</U>. Accounts that arise with respect to goods that are placed on consignment, guaranteed sale or other terms by
reason of which the payment by the Account Debtor is conditional; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) <U>Judgments, Notes or Chattel Paper</U>. Accounts that are
evidenced by a judgment, Instrument or Chattel Paper; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s) <U>Not Bona Fide</U>. Accounts that are not true and correct statements of bona fide
indebtedness incurred in the amount of such Account for merchandise sold to or services rendered and accepted by the applicable Account Debtor; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(t) <U>Ordinary Course; Sales of Equipment or Bulk Sales</U>. Accounts that do not arise from the sale of goods or the performance of services
by the Borrower, Listerhill or AEMS, as applicable, in the Ordinary Course of Business, including, without limitation, sales of Equipment and bulk sales; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(u) <U>Not Perfected</U>. Accounts as to which Agent&#146;s Lien thereon, on behalf of itself and the other Secured Parties, is not a first
priority perfected Lien. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.12 <U>Eligible Inventory</U>. All of the Inventory owned by the Borrower located in the United States
consisting of finished goods (including coil sheet inventory) held for resale in the Ordinary Course of Business of the Borrower (including scrap metal, ingot, rich dross and reclaimed scrap ingot) for such finished goods and work-in-process for
such finished goods and properly reflected as &#147;Eligible Inventory&#148; in the most recent Borrowing Base Certificate delivered by the Borrower to Agent shall be &#147;Eligible Inventory&#148; for purposes of this Agreement, except any
Inventory to which any of the exclusionary criteria set forth below or in the component definitions herein applies. Agent shall have the right to establish, modify, or eliminate Reserves against Eligible Inventory from time to time in its Permitted
Discretion upon three (3)&nbsp;days prior notice to the Borrower; <U>provided</U>, <U>however</U>, that for purposes of determining the Maximum Revolving Loan Amount (other than for purposes of <U>Section&nbsp;1.1(a)(iv)</U>, with which the Borrower
shall be afforded three (3)&nbsp;days to comply in such circumstances) the establishment, modification or elimination of any Reserve shall be deemed effective immediately upon such notice. In addition, Agent reserves the right, at any time and from
time to time after the Closing Date, to adjust any of the applicable criteria and to establish new criteria with respect to Eligible Inventory in its Permitted Discretion, subject to the approval of Supermajority Lenders in the case of adjustments
or new criteria which have the effect of making more credit available; <U>provided</U> that any adjustments or establishment of new criteria that has the effect of making less credit available shall be based on either&nbsp;(i) an event, condition or
other circumstance arising after the Closing Date or (ii)&nbsp;an event, condition or other circumstance existing on the Closing Date to the extent Agent was not given written notice thereof by the Borrower prior to the Closing Date. Eligible
Inventory shall not include the following Inventory of the Borrower: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Excess/Obsolete</U>. Inventory that is unsalable, but solely
to the extent the book value of such Inventory exceeds its scrap value; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Locations &lt; $100K</U>. Inventory is located at any site
if the aggregate book value of Inventory at any such location is less than $100,000; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Consignment</U>. Inventory that is placed on
consignment; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Off-Site</U>. Inventory that (i)&nbsp;is not located on premises owned, leased or rented by a Credit Party and set
forth in <U>Schedule&nbsp;3.21</U>, (ii) is stored at a leased location unless (x)&nbsp;a reasonably satisfactory landlord waiver has been delivered to Agent, or (y)&nbsp;Reserves reasonably satisfactory to Agent have been established with respect
thereto, (iii)&nbsp;is stored with a bailee or warehouseman unless (x)&nbsp;a reasonably satisfactory, acknowledged bailee letter has been received by Agent with respect thereto or (y)&nbsp;Reserves reasonably satisfactory to Agent have been
established with respect thereto, or (iv)&nbsp;is located at an owned location subject to a mortgage in favor of a lender other than Agent, the Senior Noteholders or Rexam, unless a reasonably </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
satisfactory mortgagee waiver has been delivered to Agent; <U>provided</U> that, until the date that is thirty (30)&nbsp;days after the Closing Date, Inventory shall not be excluded from Eligible
Inventory pursuant to (ii), (iii)&nbsp;or (iv)&nbsp;of this clause; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>In-Transit</U>. Inventory that is in transit, except for
Eligible In-Transit Inventory and Inventory in transit between domestic locations of Credit Parties as to which Agent&#146;s Liens have been perfected at origin and destination; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Customized</U>. Inventory subject to any licensing, trademark, trade name or copyright agreements with any third parties which would
require any consent of any third party for the sale or disposition of that Inventory (which consent has not been obtained) or the payment of any monies to any third party upon such sale or other disposition (to the extent of such monies); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Packing/Shipping Materials</U>. Inventory that consists of packing or shipping materials, or manufacturing supplies; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Tooling</U>. Inventory that consists of tooling or replacement parts; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Display</U>. Inventory that consists of display items; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Returns</U>. Inventory that consists of goods which have been returned by the buyer; <U>provided</U> that, Inventory shall not be
excluded from Eligible Inventory pursuant to this clause if such Inventory has been inspected and re-valued by the Borrower upon return and is able to be resold or reused in the Ordinary Course of Business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Hazardous Materials</U>. Inventory that consists of Hazardous Materials or goods that can be transported or sold only with licenses
that are not readily available; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Un-insured</U>. Inventory that is not covered by casualty insurance reasonably acceptable to
Agent; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>Other Liens</U>. Inventory that is subject to Liens other than Permitted Liens described in <U>Sections 5.1(b)</U>,
<U>(c)</U>, <U>(d)</U> <U>(f)</U> and <U>(p)</U> or rights of any other Person (including the rights of a purchaser that has made progress payments and the rights of a surety that has issued a bond to assure a the Borrower&#146;s performance with
respect to that Inventory); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) <U>Unperfected</U>. Inventory that is not subject to a first priority Lien in favor of Agent on behalf of
itself and the Secured Parties, except for Liens described in <U>Section&nbsp;5.1(d)</U> (subject to Reserves); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) <U>Negotiable Bill of
Sale</U>. Inventory that is covered by a negotiable document of title, unless such document has been delivered to Agent with all necessary endorsements, free and clear of all Liens except Liens in favor of Agent, on behalf of itself and the Secured
Parties; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) <U>Not Ordinary Course</U>. Inventory (other than raw materials) that is not of a type held for sale in the Ordinary Course
of Business of the Borrower; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) <U>Other Inventory</U>. Inventory Agent otherwise deems to be ineligible in its Permitted Discretion.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE II. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONDITIONS PRECEDENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.1
<U>Conditions of Initial Loans</U>. The obligation of each Lender to make its initial Loans and of each L/C Issuer to Issue, or cause to be Issued, the initial Letters of Credit hereunder is subject to satisfaction of the following conditions in a
manner satisfactory to Agent: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Loan Documents</U>. Agent shall have received on or before the Closing Date all of the agreements,
documents, instruments and other items set forth on the closing checklist attached hereto as <U>Exhibit 2.1</U>, each in form and substance reasonably satisfactory to Agent; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Availability</U>. After giving effect to the consummation of the Related Transactions, including the payment of all costs and expenses
in connection therewith (or creation of a reserve therefor) and the funding of the initial Loans and any Issuance of the initial Letters of Credit on the Closing Date, Availability shall be not less than $65,000,000; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Issuance of Senior Notes</U>. Holdings and Wise Alloys Finance Corporation, collectively, shall have received not less than
$650,000,000 in gross cash proceeds from the issuance of the Senior Notes on terms and conditions reasonably acceptable to Agent; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)
<U>Repayment of Prior Lender Obligations; Existing Letters of Credit</U>. (i)&nbsp;Agent shall have received a fully executed pay-off letter reasonably satisfactory to Agent confirming that all obligations owing by any Credit Party to each Prior
Lender will be repaid in full (A)&nbsp;from the proceeds of the initial Loans in the case of the lenders under the Existing Revolving Credit Agreement, together with the proceeds of the issuance of the Senior Notes and (B)&nbsp;from the proceeds of
the issuance of the Senior Notes, in the case of the Existing Term Loan Credit Agreement, and all Liens upon any of the Property of the Credit Parties or any of their Subsidiaries in favor of the Prior Lenders shall be terminated by the Prior
Lenders immediately upon such payments; and (ii)&nbsp;all letters of credit issued or guaranteed by any Prior Lender shall be continued and constitute Existing Letters of Credit hereunder; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Redemption of Preferred Equity</U>. Agent shall have received evidence satisfactory to it that the outstanding 10% paid-in-kind
preferred, non-convertible membership interests of Holdings was redeemed with the proceeds of the issuance of the Senior Notes; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)
<U>Approvals</U>. Agent shall have received (i)&nbsp;satisfactory evidence that the Credit Parties have obtained all required consents and approvals of all Persons including all requisite Governmental Authorities, to the execution, delivery and
performance of this Agreement and the other Loan Documents and the consummation of the other Related Transactions or (ii)&nbsp;an officer&#146;s certificate in form and substance reasonably satisfactory to Agent affirming that no such consents or
approvals are required; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Payment of Fees</U>. The Borrower shall have paid the fees required to be paid on the Closing Date in the
respective amounts specified in <U>Section&nbsp;1.8</U> (including the fees specified in the Fee Letter), and shall have reimbursed Agent for all fees, costs and expenses of closing presented as of the Closing Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Absence of Litigation</U><I>. </I>There shall not exist any action, suit, investigation, litigation or proceeding pending in or before
any Governmental Authority that challenges the Related Transactions or the credit facilities to be provided hereunder; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Material Adverse Effect</U>. Since December&nbsp;31, 2012, there shall not have occurred
any Material Adverse Effect; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Patriot Act</U><I>. </I>Agent and each Lender shall have received, at least five
(5)&nbsp;Business Days prior to the Closing Date (or such later date as Agent or such Lender may agree in its reasonable discretion), all documentation and other information required by regulatory authorities under applicable &#147;know your
customer&#148; and anti-money laundering rules and regulations, including the Patriot Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.2 <U>Conditions to All Borrowings</U>.
Except as otherwise expressly provided herein, no Lender or L/C Issuer shall be obligated to fund any Loan or incur any Letter of Credit Obligation, if, as of the date thereof: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any representation or warranty by any Credit Party contained herein or in any other Loan Document is untrue or incorrect in any material
respect (without duplication of any materiality qualifier contained therein) as of such date, except to the extent that such representation or warranty expressly relates to an earlier date (in which event such representation and warranty was untrue
or incorrect in any material respect (without duplication of any materiality qualifier contained therein) as of such earlier date) and the Required Lenders have determined not to make such Loan or incur such Letter of Credit Obligation as a result
of the fact that such warranty or representation is untrue or incorrect; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any Default or Event of Default has occurred and is
continuing or would result after giving effect to any Loan (or the incurrence of any Letter of Credit Obligation), and Agent or Required Lenders shall have determined not to make any Loan or incur any Letter of Credit Obligation as a result thereof;
or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) after giving effect to any Loan (or the incurrence of any Letter of Credit Obligations), the aggregate outstanding amount of the
Revolving Loans would exceed the Maximum Revolving Loan Balance (except as provided in <U>Section&nbsp;1.1(a)</U>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The request by the Borrower and
acceptance by the Borrower of the proceeds of any Loan or the incurrence of any Letter of Credit Obligations shall be deemed to constitute, as of the date thereof, (i)&nbsp;a representation and warranty by the Borrower that the conditions in this
<U>Section&nbsp;2.2</U> have been satisfied and (ii)&nbsp;a reaffirmation by each Credit Party of the granting and continuance of Agent&#146;s Liens, on behalf of itself and the Secured Parties, pursuant to the Collateral Documents. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE III. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REPRESENTATIONS AND WARRANTIES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Credit Parties, jointly and severally, represent and warrant to Agent and each Lender that the following are, and after giving effect to
the Related Transactions will be, true, correct and complete: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.1 <U>Corporate Existence and Power</U>. Each Credit Party and each of its
Restricted Subsidiaries: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) is a corporation, limited liability company or limited partnership, as applicable, duly organized, validly
existing and in good standing under the laws of the jurisdiction of its incorporation, organization or formation, as applicable; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) has the power and authority and all governmental licenses, authorizations, Permits, consents
and approvals (i)&nbsp;to own its assets and to carry on its business, except for any failure to have any such governmental licenses, authorizations, Permits, consents or approvals which could not reasonably be expected to have a Material Adverse
Effect and (ii)&nbsp;to execute, deliver, and perform its obligations under, the Loan Documents and the Other Debt Documents to which it is a party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) is duly qualified as a foreign corporation, limited liability company or limited partnership, as applicable, and licensed and in good
standing, under the laws of each jurisdiction where its ownership, lease or operation of Property or the conduct of its business requires such qualification or license; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) is in compliance with all Requirements of Law; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">except, in each case referred to in <U>clause&nbsp;(c)</U> or <U>clause (d)</U>, to the extent that the failure to do so would not reasonably be expected to
have, either individually or in the aggregate, a Material Adverse Effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.2 <U>Corporate Authorization; No Contravention</U>. The
execution, delivery and performance by each of the Credit Parties of this Agreement, and by each Credit Party and each of its Restricted Subsidiaries of any other Loan Document and Other Debt Document to which such Person is party, have been duly
authorized by all necessary action, and do not and will not: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) contravene the terms of any of that Person&#146;s Organization
Documents; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) conflict with or result in any material breach or contravention of, or result in the creation of any Lien under, any
document evidencing any material Contractual Obligation to which such Person is a party or any order, injunction, writ or decree of any Governmental Authority to which such Person or its Property is subject; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) violate any Requirement of Law in any material respect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.3 <U>Governmental Authorization</U>. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any
Governmental Authority is necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Credit Party or any Restricted Subsidiary of any Credit Party of this Agreement, any other Loan Document or
Other Debt Document except (a)&nbsp;for recordings and filings in connection with the Liens granted to Agent under the Collateral Documents, (b)&nbsp;those obtained or made on or prior to the Closing Date and (c)&nbsp;in the case of any Other Debt
Document, those which, if not obtained or made, would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.4 <U>Binding Effect</U>. This Agreement and each other Loan Document and Other Debt Document to which any Credit Party or any Restricted
Subsidiary of any Credit Party is a party constitute the legal, valid and binding obligations of each such Person which is a party thereto, enforceable against such Person in accordance with their respective terms, except as enforceability may be
limited by applicable bankruptcy, insolvency, or similar laws affecting the enforcement of creditors&#146; rights generally or by equitable principles relating to enforceability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.5 <U>Litigation</U>. Except as specifically disclosed in <U>Schedule 3.5</U>, there are no actions, suits, proceedings, claims or disputes
pending, or to the knowledge of the Credit Parties, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, against any Credit Party, any Subsidiary of any Credit Party or any of their respective
Properties which: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) purport to affect or pertain to this Agreement, any other Loan Document, any Other Debt Document, or any of the
transactions contemplated hereby or thereby; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) would reasonably be expected to result in monetary judgment(s) or relief, or seek an
injunction or other equitable relief, in each case, which would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">No injunction, writ, temporary restraining order or any order of any nature has been issued by any court or other Governmental Authority purporting to enjoin
or restrain the execution, delivery or performance of this Agreement, any other Loan Document or any Other Debt Document, or directing that the transactions provided for herein or therein not be consummated as herein or therein provided. As of the
Closing Date, no Credit Party or any Subsidiary of any Credit Party is the subject of an audit or, to the knowledge of the Credit Parties, any review or investigation by any Governmental Authority (excluding the IRS and other taxing authorities)
concerning the violation or possible violation of any Requirement of Law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.6 <U>No Default</U>. No Default or Event of Default exists or
would result from the incurring of any Obligations by any Credit Party or the grant or perfection of Agent&#146;s Liens on the Collateral or the consummation of the Related Transactions. No Credit Party and no Restricted Subsidiary of any Credit
Party is in default under or with respect to any Contractual Obligation in any respect which, individually or together with all such defaults, would reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.7 <U>ERISA Compliance</U>. <U>Schedule 3.7</U> sets forth, as of the Closing Date, a complete and correct list of, and that separately
identifies, (a)&nbsp;all Title IV Plans, (b)&nbsp;all Multiemployer Plans and (c)&nbsp;all material Benefit Plans. Each Benefit Plan, and each trust thereunder, intended to qualify for tax exempt status under Section&nbsp;401 or 501 of the Code or
other Requirements of Law so qualifies. Except for those that would not, in the aggregate, reasonably be expected to have a Material Adverse Effect, (x)&nbsp;each Benefit Plan is in compliance with applicable provisions of ERISA, the Code and other
Requirements of Law, (y)&nbsp;there are no existing or pending (or to the knowledge of the Credit Parties, threatened) claims (other than routine claims for benefits in the normal course), sanctions, actions, lawsuits or other proceedings or
investigation involving any Benefit Plan to which any Credit Party incurs or otherwise has or could have an obligation or any Liability and (z)&nbsp;no ERISA Event is reasonably expected to occur. On the Closing Date, no ERISA Event has occurred in
connection with which obligations and liabilities (contingent or otherwise) remain outstanding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.8 <U>Use of Proceeds; Margin
Regulations</U>. No Credit Party and no Restricted Subsidiary of any Credit Party is engaged in the business of purchasing or selling Margin Stock or extending credit for the purpose of purchasing or carrying Margin Stock. <U>Schedule&nbsp;3.8</U>
contains a description of the Credit Parties&#146; sources and uses of funds on the Closing Date, including Loans and Letters of Credit made or Issued on the Closing Date and a funds flow memorandum detailing how funds from each source are to be
transferred to particular uses. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.9 <U>Ownership of Property; Liens</U>. As of the Closing Date, the Real Estate listed in <U>Schedule
3.9</U> constitutes all of the Real Estate of each Credit Party and Restricted Subsidiaries. Each of the Credit Parties and Restricted Subsidiaries has good record and marketable title in fee </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
simple to, or valid leasehold interests in, all Real Estate, and good and valid title to all owned personal property and valid leasehold interests in all leased personal property, in each
instance, necessary or used in the ordinary conduct of their respective businesses. As of the Closing Date, none of the Real Estate of any Credit Party or any Restricted Subsidiary of any Credit Party is subject to any Liens other than Permitted
Liens. As of the Closing Date, <U>Schedule 3.9</U> also describes any purchase options, rights of first refusal or other similar contractual rights pertaining to any Real Estate. As of the Closing Date, all material permits required to have been
issued or appropriate to enable the Real Estate to be lawfully occupied and used for all of the purposes for which it is currently occupied and used have been lawfully issued and are in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.10 <U>Taxes</U>. All federal, state, local and foreign income and franchise and other material Tax returns, reports and statements
(collectively, the &#147;<U>Tax Returns</U>&#148;) required to be filed by any Tax Affiliate have been filed with the appropriate Governmental Authorities, all such Tax Returns are true and correct in all material respects, and all Taxes reflected
therein or otherwise due and payable have been paid prior to the date on which any Liability may be added thereto for non-payment thereof except for those contested in good faith by appropriate proceedings diligently conducted and for which adequate
reserves are maintained on the books of the appropriate Tax Affiliate in accordance with GAAP. As of the Closing Date, no Tax Return is under audit or examination by any Governmental Authority, and no notice of any audit or examination or any
assertion of any claim for Taxes has been given or made by any Governmental Authority. Proper and accurate amounts have been withheld by each Tax Affiliate from their respective employees for all periods in full and complete compliance with the Tax,
social security and unemployment withholding provisions of applicable Requirements of Law and such withholdings have been timely paid to the respective Governmental Authorities. No Tax Affiliate has participated in a &#147;reportable
transaction&#148; within the meaning of Treasury Regulation Section&nbsp;1.6011-4(b) or has been a member of an affiliated, combined or unitary group other than the group of which a Tax Affiliate is the common parent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.11 <U>Financial Condition</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each of (i)&nbsp;the audited consolidated balance sheet of Holdings and its Subsidiaries, dated December&nbsp;31, 2012 and the related
audited consolidated statements of income or operations, shareholders&#146; equity and cash flows for the Fiscal Year ended on that date and (ii)&nbsp;the unaudited interim consolidated balance sheet of Holdings and its Subsidiaries, dated
September&nbsp;30, 2013 and the related unaudited consolidated statements of income, shareholders&#146; equity and cash flows for the nine (9)&nbsp;fiscal months then ended, in each case, as attached hereto as <U>Schedule 3.11(a)</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) were prepared in accordance with GAAP consistently applied throughout the respective periods covered thereby, except as
otherwise expressly noted therein, subject to, in the case of the unaudited interim financial statements, normal year-end adjustments and the lack of footnote disclosures; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(y) present fairly in all material respects the consolidated financial condition of Holdings and its Subsidiaries as of the
dates thereof and results of operations for the periods covered thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The pro forma capitalization of Holdings and its
Subsidiaries as of September&nbsp;30, 2013, delivered on the Closing Date and attached hereto as <U>Schedule 3.11(b)</U> was prepared by Holdings giving pro forma effect to the funding of the initial Loans hereunder and the other Related
Transactions, was based on the unaudited consolidated and consolidating </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
balance sheets of Holdings and its Subsidiaries dated September&nbsp;30, 2013, and was prepared in accordance with GAAP, with only such adjustments thereto as would be required in a manner
consistent with GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Since December&nbsp;31, 2012, there has been no Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Credit Parties and their Restricted Subsidiaries have no Indebtedness other than Indebtedness permitted pursuant to
<U>Section&nbsp;5.5</U> and have no Contingent Obligations other than Contingent Obligations permitted pursuant to <U>Section&nbsp;5.8</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) All financial performance projections delivered to Agent, including the financial performance projections delivered on the Closing Date
and attached hereto as <U>Schedule 3.11(e)</U>, represent the Borrower&#146;s best good faith estimate of future financial performance and are based on assumptions believed by the Borrower to be fair and reasonable in light of current market
conditions, it being acknowledged and agreed by Agent and Lenders that projections as to future events are not to be viewed as facts and that the actual results during the period or periods covered by such projections may differ from the projected
results. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.12 <U>Environmental Matters</U>. Except as set forth in <U>Schedule&nbsp;3.12</U>, and except where any failures to comply
would not reasonably be expected to result in, either individually or in the aggregate, Material Environmental Liabilities to the Credit Parties and their Subsidiaries, (a)&nbsp;the operations of each Credit Party and each Subsidiary of each Credit
Party are and have been in compliance with all applicable Environmental Laws, including obtaining, maintaining and complying with all Permits required by any applicable Environmental Law, (b)&nbsp;no Credit Party and no Subsidiary of any Credit
Party is party to, and no Credit Party and no Subsidiary of any Credit Party and no Real Estate currently (or to the knowledge of the Credit Parties previously) owned, leased, subleased, operated or otherwise occupied by or for any such Person is
subject to or the subject of, any Contractual Obligation or any pending (or, to the knowledge of the Credit Parties, threatened) order, action, investigation, suit, proceeding, audit, claim, demand, dispute or notice of violation or of potential
liability or similar notice relating in any manner to any Environmental Laws, (c)&nbsp;no Lien in favor of any Governmental Authority securing, in whole or in part, Environmental Liabilities has attached to any Property of any Credit Party or any
Subsidiary of any Credit Party and, to the knowledge of the Credit Parties, no facts, circumstances or conditions exist that could reasonably be expected to result in any such Lien attaching to any such Property, (d)&nbsp;no Credit Party and no
Subsidiary of any Credit Party has caused or suffered to occur a Release of Hazardous Materials at, to or from any Real Estate, (e)&nbsp;all Real Estate currently (or to the knowledge of the Credit Parties previously) owned, leased, subleased,
operated or otherwise occupied by or for any such Credit Party and each Subsidiary of each Credit Party is free of contamination by any Hazardous Materials, and (f)&nbsp;no Credit Party and no Subsidiary of any Credit Party (i)&nbsp;is or has been
engaged in, or has permitted any current or former tenant to engage in, operations in violation of any Environmental Law or (ii)&nbsp;knows of any facts, circumstances or conditions reasonably constituting notice of a violation of any Environmental
Law, including receipt of any information request or notice of potential responsibility under the Comprehensive Environmental Response, Compensation and Liability Act or similar Environmental Laws. Each Credit Party has made available to Agent
copies of all existing environmental reports, reviews and audits and all documents pertaining to actual or potential Environmental Liabilities, in each case to the extent such reports, reviews, audits and documents are in their possession, custody,
control or otherwise available to the Credit Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.13 <U>Regulated Entities</U>. No Credit Party, no Person controlling any Credit
Party, nor any Restricted Subsidiary of any Credit Party, is (a)&nbsp;an &#147;investment company&#148; within the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
meaning of the Investment Company Act of 1940 or (b)&nbsp;subject to regulation under the Federal Power Act, the Interstate Commerce Act, any state public utilities code, or any other federal or
state statute, rule or regulation limiting its ability to incur Indebtedness, pledge its assets or perform its Obligations under the Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.14 <U>Labor Relations</U>. There are no strikes, work stoppages, slowdowns or lockouts existing, pending (or, to the knowledge of any Credit
Party, threatened) against or involving any Credit Party or any Subsidiary of any Credit Party, except for those that would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. Except as set forth in <U>Schedule 3.14</U>,
as of the Closing Date, (a)&nbsp;there is no collective bargaining or similar agreement with any union, labor organization, works council or similar representative covering any employee of any Credit Party or any Subsidiary of any Credit Party,
(b)&nbsp;no petition for certification or election of any such representative is existing or pending with respect to any employee of any Credit Party or any Subsidiary of any Credit Party and (c)&nbsp;no such representative has sought certification
or recognition with respect to any employee of any Credit Party or any Subsidiary of any Credit Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.15 <U>Intellectual Property</U>.
<U>Schedule 3.15</U> sets forth a true and complete list of the following Intellectual Property each Credit Party owns, licenses or otherwise has the right to use: (i)&nbsp;Intellectual Property that is registered or subject to applications for
registration, (ii)&nbsp;Internet Domain Names and (iii)&nbsp;material Intellectual Property and material Software, separately identifying that owned and licensed to such Credit Party and including for each of the foregoing items (1)&nbsp;the owner,
(2)&nbsp;the title, (3)&nbsp;the jurisdiction in which such item has been registered or otherwise arises or in which an application for registration has been filed, (4)&nbsp;as applicable, the registration or application number and registration or
application date and (5)&nbsp;any IP Licenses or other rights (including franchises) granted by such Credit Party with respect thereto. Each Credit Party and each Restricted Subsidiary of each Credit Party owns, or is licensed to use, all
Intellectual Property necessary to conduct its business as currently conducted except for such Intellectual Property the failure of which to own or license would not reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. To the knowledge of the Credit Parties, (a)&nbsp;the conduct and operations of the businesses of each Credit Party and each Restricted Subsidiary of each Credit Party does not infringe, misappropriate, dilute, violate or otherwise
impair any Intellectual Property owned by any other Person and (b)&nbsp;no other Person has contested any right, title or interest of any Credit Party or any Restricted Subsidiary of any Credit Party in, or relating to, any Intellectual Property,
other than, in each case, as cannot reasonably be expected to affect the Loan Documents and the transactions contemplated therein and would not, in the aggregate, reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.16 <U>Brokers&#146; Fees; Transaction Fees</U>. Except for fees payable to Agent and Lenders and fees payable in connection with the
issuance of the Senior Notes, none of the Credit Parties or any of their respective Subsidiaries has any obligation to any Person in respect of any finder&#146;s, broker&#146;s or investment banker&#146;s fee in connection with the transactions
contemplated hereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.17 <U>Insurance</U>. Each of the Credit Parties and Restricted Subsidiaries and their respective Properties are
insured with financially sound and reputable insurance companies which are not Affiliates of the Borrower, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses of the
same size and character as the business of the Credit Parties and, to the extent relevant, owning similar Properties in localities where such Person operates. A true and complete listing of such insurance policies maintained as of the Closing Date,
including issuers, coverages and deductibles has been provided to Agent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.18 <U>Ventures, Subsidiaries and Affiliates; Outstanding Stock</U>. Except as set forth in
<U>Schedule 3.18</U>, as of the Closing Date, no Credit Party and no Subsidiary of any Credit Party (a)&nbsp;has any Subsidiaries, or (b)&nbsp;is engaged in any joint venture or partnership with any other Person, or is an Affiliate of any other
Person. All issued and outstanding Stock and Stock Equivalents of each of the Credit Parties and their Restricted Subsidiaries are duly authorized and validly issued, fully paid, non-assessable, and free and clear of all Liens other than, with
respect to the Stock and Stock Equivalents of the Borrower and Restricted Subsidiaries of the Borrower, those in favor of Agent, for the benefit of the Secured Parties, and the Indenture Trustee and Rexam. All such securities were issued in
compliance with all applicable state and federal laws concerning the issuance of securities. All of the issued and outstanding Stock of each Credit Party (other than Holdings), each Subsidiary of each Credit Party and, as of the Closing Date,
Holdings is owned by each of the Persons and in the amounts set forth in <U>Schedule 3.18</U>. Except as set forth in <U>Schedule 3.18</U>, there are no pre-emptive or other outstanding rights to purchase, options, warrants or similar rights or
agreements pursuant to which any Credit Party may be required to issue, sell, repurchase or redeem any of its Stock or Stock Equivalents or any Stock or Stock Equivalents of its Subsidiaries. Set forth in <U>Schedule 3.18</U> is a true and complete
organizational chart of Holdings and all of its Subsidiaries, which the Credit Parties shall update upon notice to Agent promptly following the incorporation, organization or formation of any Subsidiary and promptly following the completion of any
Permitted Acquisition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.19 <U>Jurisdiction of Organization; Chief Executive Office</U>. <U>Schedule 3.19</U> lists each Credit
Party&#146;s jurisdiction of organization, legal name and organizational identification number, if any, and the location of such Credit Party&#146;s chief executive office or sole place of business, in each case as of the date hereof, and such
<U>Schedule 3.19</U> also lists all jurisdictions of organization and legal names of such Credit Party for the five (5)&nbsp;years preceding the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.20 <U>Locations of Inventory, Equipment and Books and Records</U>. Each Credit Party&#146;s inventory and equipment (other than inventory or
equipment in transit) and books and records concerning the Collateral are kept at the locations listed in <U>Schedule 3.20</U> (which <U>Schedule 3.20</U> shall be promptly updated by the Credit Parties upon notice to Agent as permanent Collateral
locations change). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.21 <U>Deposit Accounts and Other Accounts</U>. <U>Schedule 3.21</U> lists all banks and other financial institutions
at which any Credit Party maintains deposit or other accounts as of the Closing Date, and such Schedule correctly identifies the name, address and any other relevant contact information reasonably requested by Agent with respect to each depository,
the name in which the account is held, a description of the purpose of the account, and the complete account number therefor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.22
<U>Government Contracts</U>. Except as set forth in <U>Schedule 3.22</U>, as of the Closing Date, no Credit Party is a party to any contract or agreement with any Governmental Authority and no Credit Party&#146;s Accounts are subject to the Federal
Assignment of Claims Act (31 U.S.C. Section&nbsp;3727) or any similar state or local law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.23 <U>Customer and Trade Relations</U>. As of
the Closing Date, there exists no actual or, to the knowledge of the Credit Parties, threatened termination or cancellation of, or any material adverse modification or change in (a)&nbsp;the business relationship of any Credit Party with any
customer or group of customers whose purchases during the preceding twelve (12)&nbsp;calendar months caused them to be ranked among the ten (10)&nbsp;largest customers of such Credit Party or (b)&nbsp;the business relationship of any Credit Party
with any supplier essential to its operations. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.24 <U>Bonding</U>. Except as set forth in <U>Schedule 3.24</U>, as of the Closing Date, no
Credit Party is a party to or bound by any surety bond agreement, indemnification agreement therefor or bonding requirement with respect to products or services sold by it. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.25 <U>Other Debt Documents</U>. As of the Closing Date, the Borrower has delivered to Agent a complete and correct copy of the Senior Notes
Documents and the Rexam Documents (including, in each case, all schedules, exhibits, amendments, supplements, modifications, assignments and all other documents delivered pursuant thereto or in connection therewith). All Obligations, including the
L/C Reimbursement Obligations, (x)&nbsp;constitute &#147;Permitted Indebtedness&#148; under and as defined in the Senior Notes Documents and (y)&nbsp;constitute Indebtedness entitled to the benefits of the Intercreditor Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.26 <U>Full Disclosure</U>. None of the representations or warranties made by any Credit Party or any of their Subsidiaries in the Loan
Documents as of the date such representations and warranties are made or deemed made, and none of the statements contained in each exhibit, report, statement or certificate furnished by or on behalf of any Credit Party or any of their Subsidiaries
in connection with the Loan Documents (including the offering and disclosure materials, if any, delivered by or on behalf of any Credit Party to Agent or the Lenders prior to the Closing Date), contains any untrue statement of a material fact or
omits any material fact required to be stated therein or necessary to make the statements made therein, in light of the circumstances under which they are made, not misleading as of the time when made or delivered. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.27 <U>Foreign Assets Control Regulations and Anti-Money Laundering</U>. Each Credit Party and each Restricted Subsidiary of each Credit
Party is in compliance in all material respects with all U.S. economic sanctions laws, executive orders and implementing regulations as promulgated by the U.S. Treasury Department&#146;s Office of Foreign Assets Control (&#147;<U>OFAC</U>&#148;),
and all applicable anti-money laundering and counter-terrorism financing provisions of the Bank Secrecy Act and all regulations issued pursuant to it. No Credit Party and no Restricted Subsidiary or Affiliate of a Credit Party (i)&nbsp;is a Person
designated by the U.S. government on the list of the Specially Designated Nationals and Blocked Persons (the &#147;<U>SDN List&#148;</U>) with which a U.S. Person cannot deal with or otherwise engage in business transactions, (ii)&nbsp;is a Person
who is otherwise the target of U.S. economic sanctions laws such that a U.S. Person cannot deal or otherwise engage in business transactions with such Person or (iii)&nbsp;is controlled by (including without limitation by virtue of such person being
a director or owning voting shares or interests), or acts, directly or indirectly, for or on behalf of, any person or entity on the SDN List or a foreign government that is the target of U.S. economic sanctions prohibitions such that the entry into,
or performance under, this Agreement or any other Loan Document would be prohibited under U.S. law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.28 <U>Patriot Act</U>. The Credit
Parties, each of their Restricted Subsidiaries and each of their Affiliates are in compliance with (a)&nbsp;the Trading with the Enemy Act, and each of the foreign assets control regulations of the United States Treasury Department and any other
enabling legislation or executive order relating thereto, (b)&nbsp;the Patriot Act and (c)&nbsp;other federal or state laws relating to &#147;know your customer&#148; and anti-money laundering rules and regulations. No part of the proceeds of any
Loan will be used directly or indirectly for any payments to any government official or employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain,
retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.29 <U>Related Transactions</U>. As of the Closing Date, all of the Related Transactions have
been or, simultaneously with the funding of the initial Loans hereunder and the application of the proceeds thereof, will have been consummated. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.30 <U>Solvency</U>. Both before and after giving effect to (a)&nbsp;the Loans made and Letters of Credit Issued on or prior to the date this
representation and warranty is made or remade, (b)&nbsp;the disbursement of the proceeds of such Loans to or as directed by the Borrower, (c)&nbsp;the consummation of the Related Transactions and (d)&nbsp;the payment and accrual of all transaction
costs in connection with the foregoing, the Borrower and its Subsidiaries, on a consolidated basis, are Solvent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE IV. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AFFIRMATIVE COVENANTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each Credit Party covenants and agrees that, until the Facility Termination Date: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.1 <U>Financial Statements</U>. Each Credit Party shall maintain, and shall cause each of its Subsidiaries to maintain, a system of
accounting established and administered in accordance with sound business practices to permit the preparation of financial statements in conformity with GAAP (provided that monthly financial statements shall not be required to have footnote
disclosures and are subject to normal year-end adjustments). The Borrower shall deliver to Agent and each Lender by Electronic Transmission and in detail reasonably satisfactory to Agent and the Required Lenders: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) as soon as available, but not later than ninety (90)&nbsp;days after the end of each Fiscal Year, a copy of the audited consolidated and
consolidating balance sheets of Holdings and each of its Restricted Subsidiaries as at the end of such Fiscal Year and the related consolidated and consolidating statements of income or operations, shareholders&#146; equity and cash flows for such
Fiscal Year, setting forth in each case in comparative form the figures for the previous Fiscal Year, and accompanied by the report of any &#147;Big Four&#148; or other <FONT STYLE="white-space:nowrap">nationally-recognized</FONT> independent
certified public accounting firm reasonably acceptable to Agent which report shall (i)&nbsp;contain an unqualified opinion, stating that such consolidated financial statements present fairly in all material respects the financial position for the
periods indicated in conformity with GAAP applied on a basis consistent with prior years and (ii)&nbsp;not include any explanatory paragraph expressing substantial doubt as to going concern status; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) as soon as available, but not later than forty-five (45)&nbsp;days after the end of each Fiscal Quarter (including the last Fiscal Quarter
of each Fiscal Year), a copy of the unaudited consolidated and consolidating balance sheets of Holdings and each of its Restricted Subsidiaries, and the related consolidated and consolidating statements of income, shareholders&#146; equity and cash
flows as of the end of such Fiscal Quarter and for the portion of the Fiscal Year then ended, each of which shall be complete and correct and fairly present, in all material respects, in accordance with GAAP, the financial position and the results
of operations of Holdings and its Subsidiaries, subject to normal year-end adjustments and absence of footnote disclosures; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) as
soon as available, but not later than thirty (30)&nbsp;days after the end of each fiscal month of each year (other than the last fiscal month of each Fiscal Quarter), a copy of the unaudited consolidated and consolidating balance sheets of Holdings
and each of its Restricted Subsidiaries, and the related consolidated and consolidating statements of income, shareholders&#146; equity and cash flows as of the end of such fiscal month and for the portion of the Fiscal Year then ended, each of
which shall be complete and correct and fairly present, in all </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
material respects, in accordance with GAAP, the financial position and the results of operations of Holdings and its Restricted Subsidiaries, subject to normal year-end adjustments and absence of
footnote disclosures. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.2 <U>Certificates; Other Information</U>. The Borrower shall furnish to Agent and each Lender by Electronic
Transmission: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) together with each delivery of financial statements pursuant to <U>Sections 4.1(a)</U> <U>4.1(b)</U> and <U>4.1(c)</U>,
a report setting forth in comparative form the corresponding figures for the corresponding periods of the previous Fiscal Year and the corresponding figures from the most recent projections for the current Fiscal Year delivered pursuant to
<U>Section&nbsp;4.2(l)</U> and discussing the reasons for any significant variations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) concurrently with the delivery of the financial
statements referred to in <U>Sections 4.1(a)</U>, <U>4.1(b)</U> and <U>4.1(c)</U>, a fully and properly completed certificate in the form of <U>Exhibit 4.2(b)</U> (a &#147;<U>Compliance Certificate</U>&#148;), certified on behalf of the Borrower by
a Responsible Officer of Holdings; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) promptly after the same are sent, copies of all financial statements and reports which any Credit
Party sends to its shareholders or other equity holders, as applicable, generally and promptly after the same are filed, copies of all financial statements and regular, periodic or special reports which such Person may make to, or file with, the
Securities and Exchange Commission or any successor or similar Governmental Authority; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) (i) as soon as available and in any event
within twenty (20)&nbsp;days after the end of each calendar month (or, from and after the date on which Availability is less than the greater of $32,000,000 and 10% of the Aggregate Revolving Loan Commitment until such subsequent date, if any, on
which Availability is greater than or equal to the greater of $32,000,000 and 10% of the Aggregate Revolving Loan Commitment for a period of thirty (30)&nbsp;consecutive days, within three (3)&nbsp;Business Days after the end of each calendar week),
a Borrowing Base Certificate, certified on behalf of the Borrower by a Responsible Officer of the Borrower, setting forth the Borrowing Base of the Borrower as at the end of the most-recently ended calendar month or week, as applicable; and
(ii)&nbsp;during any AB No-Offset Period, to the extent not already provided under the preceding clause (i), as soon as available and in any event within three (3)&nbsp;Business Days after the end of each calendar week, a Borrowing Base Certificate,
certified on behalf of the Borrower by a Responsible Officer of the Borrower, solely setting forth the Eligible Accounts as to which the related Account Debtor is Anheuser-Busch and that are included in the Borrowing Base as at the end of the
most-recently ended calendar week; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) within twenty (20)&nbsp;days after the end of each calendar month, a summary of Inventory by
location and type with a supporting perpetual Inventory report, in each case accompanied by such supporting detail and documentation as shall be requested by Agent in its reasonable discretion; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) within twenty (20)&nbsp;days after the end of each calendar month, a detailed aging of Accounts, accompanied by such supporting detail and
documentation as shall be requested by Agent in its reasonable discretion; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) within twenty (20)&nbsp;days after the end of each
calendar month, a detailed aging of accounts payable accompanied by such supporting detail and documentation as shall be requested by Agent in its reasonable discretion; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) concurrently with the delivery of the Borrowing Base Certificate (together with a copy of all
or any part of such delivery requested by any Lender in writing after the Closing Date), collateral reports, including all additions and reductions (cash and non-cash) with respect to Accounts of the Credit Parties in each case accompanied by such
supporting detail and documentation as shall be requested by Agent in its Permitted Discretion each of which shall be prepared by the Borrower as of the last day of the immediately preceding week or calendar month, as applicable; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) at the time of delivery of each of the monthly financial statements delivered pursuant to <U>Section&nbsp;4.1(c)</U>, a reconciliation of
the following, in each case, accompanied by such supporting detail and documentation as shall be requested by Agent in its reasonable discretion; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the most recent Borrowing Base Certificate, general ledger and month-end accounts receivable aging of the Borrower to the Borrower&#146;s
general ledger and monthly financial statements delivered pursuant to <U>Section&nbsp;4.1(c)</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) the perpetual inventory by
location to the Borrower&#146;s most recent Borrowing Base Certificate, general ledger and monthly financial statements delivered pursuant to <U>Section&nbsp;4.1(c)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) the accounts payable aging to the Borrower&#146;s general ledger and monthly financial statements delivered pursuant to
<U>Section&nbsp;4.1(c)</U>; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) the outstanding Loans as set forth in the monthly loan account statement provided by Agent to the
Borrower&#146;s general ledger and monthly financial statements delivered pursuant to <U>Section&nbsp;4.1(c)</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) at the time of
delivery of each of the monthly, quarterly or annual financial statements delivered pursuant to <U>Section&nbsp;4.1</U>, (i)&nbsp;a listing of government contracts of the Borrower subject to the Federal Assignment of Claims Act of 1940 or any
similar state or municipal law; and (ii)&nbsp;a list of any applications for the registration of any Patent, Trademark or Copyright filed by any Credit Party with the United States Patent and Trademark Office, the United States Copyright Office or
any similar office or agency in each case entered into or filed in the prior Fiscal Quarter; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) as soon as available and in any event no
later than thirty (30)&nbsp;days prior to the last day of the Fiscal Year of the Borrower, projections of the Credit Parties and their Restricted Subsidiaries&#146; consolidated and consolidating financial performance for the next Fiscal Year on a
month-by-month basis and for each Fiscal Year thereafter through the 2018 Fiscal Year on a year-by-year basis; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) promptly upon receipt
thereof, copies of any reports submitted by Holdings&#146; certified public accountants in connection with each annual, interim or special audit or review of any type of the financial statements or internal control systems of any Credit Party made
by such accountants; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) promptly after the same are delivered, copies of any reports, notices or other information required to be
delivered to the Senior Noteholders pursuant to the Senior Notes Indenture; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) promptly, such additional business, financial,
collateral, corporate affairs, perfection certificates and other information as Agent may from time to time reasonably request. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.3 <U>Notices</U>. The Borrower shall notify promptly Agent and each Lender of each of the
following (and in no event later than three (3)&nbsp;Business Days after a Responsible Officer of any Credit Party becomes aware thereof): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the occurrence or existence of any Default or Event of Default; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any breach or <FONT STYLE="white-space:nowrap">non-performance</FONT> of, or any default under, any Contractual Obligation of any Credit
Party or any Subsidiary of any Credit Party, or any violation of, or non-compliance with, any Requirement of Law, which would reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect, including a
description of such breach, non-performance, default, violation or non-compliance and the steps, if any, such Person has taken, is taking or proposes to take in respect thereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) any dispute, litigation, investigation, proceeding or suspension which may exist at any time between any Credit Party or any Restricted
Subsidiary of any Credit Party and any Governmental Authority which would reasonably be expected to result, either individually or in the aggregate, in a Material Adverse Effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the commencement of, or any material development in, any litigation or proceeding affecting any Credit Party or any Subsidiary of any
Credit Party or its respective property, (i)&nbsp;in which the amount of damages claimed is $2,500,000 or more, (ii)&nbsp;in which injunctive or similar relief is sought and which, if adversely determined, would reasonably be expected to have a
Material Adverse Effect, or (iii)&nbsp;in which the relief sought is an injunction or other stay of the performance of this Agreement, any other Loan Document or any Other Debt Document; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) (i) the receipt by any Credit Party of any notice of violation of or potential liability or similar notice under Environmental Law,
(ii)(A) unpermitted Releases, (B)&nbsp;the existence of any condition that could reasonably be expected to result in violations of or Liabilities under, any Environmental Law or (C)&nbsp;the commencement of, or any material change to, any action,
investigation, suit, proceeding, audit, claim, demand, dispute alleging a violation of or Liability under any Environmental Law which in the case of clauses (A), (B)&nbsp;and (C)&nbsp;above, in the aggregate for all such clauses, would reasonably be
expected to result in Material Environmental Liabilities, (iii)&nbsp;the receipt by any Credit Party of notification that any Property of any Credit Party is subject to any Lien in favor of any Governmental Authority securing, in whole or in part,
Environmental Liabilities and (iv)&nbsp;any proposed acquisition or lease of Real Estate, if such acquisition or lease would have a reasonable likelihood of resulting in Material Environmental Liabilities; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) (i) on or prior to any filing by any ERISA Affiliate of any notice of any reportable event under Section&nbsp;4043 of ERISA, or intent to
terminate any Title IV Plan, a copy of such notice (ii)&nbsp;promptly, and in any event within ten (10)&nbsp;days, after any officer of any ERISA Affiliate knows or has reason to know that a request for a minimum funding waiver under
Section&nbsp;412 of the Code has been filed with respect to any Title IV Plan or Multiemployer Plan, a notice describing such waiver request and any action that any ERISA Affiliate proposes to take with respect thereto, together with a copy of any
notice filed with the PBGC or the IRS pertaining thereto, and (iii)&nbsp;promptly, and in any event within ten (10)&nbsp;days after any officer of any ERISA Affiliate knows or has reason to know that an ERISA Event will or has occurred, a notice
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
describing such ERISA Event, and any action that any ERISA Affiliate proposes to take with respect thereto, together with a copy of any notices received from or filed with the PBGC, IRS,
Multiemployer Plan or other Benefit Plan pertaining thereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) any Material Adverse Effect subsequent to the date of the most recent
audited financial statements delivered to Agent and Lenders pursuant to this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) any material change in accounting policies or
financial reporting practices by any Credit Party or any Subsidiary of any Credit Party; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) any labor controversy resulting in or
threatening to result in any strike, work stoppage, boycott, shutdown or other labor disruption against or involving any Credit Party or any Subsidiary of any Credit Party if the same would reasonably be expected to have, either individually or in
the aggregate, a Material Adverse Effect; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) the creation, establishment or acquisition of any Subsidiary; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) if any Credit Party acquires any Margin Stock; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) the termination of, amendment to, or any default or alleged breach under, any Other Debt Document or Material Contract. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each notice pursuant to this <U>Section&nbsp;4.3</U> shall be in electronic form accompanied by a statement by a Responsible Officer of the Borrower setting
forth details of the occurrence referred to therein, and stating what action the Borrower or other Person proposes to take with respect thereto and at what time. Each notice under <U>Section&nbsp;4.3(a)</U> shall describe with particularity any and
all clauses or provisions of this Agreement or other Loan Document that have been breached or violated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.4 <U>Preservation of Corporate
Existence, Etc</U>. Each Credit Party shall, and shall cause each of its Restricted Subsidiaries to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) preserve and maintain in full
force and effect its organizational existence and good standing under the laws of its jurisdiction of incorporation, organization or formation, as applicable, except as permitted by <U>Section&nbsp;5.3</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) preserve and maintain in full force and effect all rights, privileges, qualifications, permits, licenses and franchises necessary in the
normal conduct of its business except as permitted by <U>Sections 5.2</U> and <U>5.3</U> and except as would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) preserve or renew all of its registered Trademarks, the <FONT STYLE="white-space:nowrap">non-preservation</FONT> of which would reasonably
be expected to have, either individually or in the aggregate, a Material Adverse Effect; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) conduct its business and affairs without
infringement of or interference with any Intellectual Property of any other Person in any respect and shall comply in all respects with the terms of its IP Licenses except, in each case, as would not be expected to have, either individually or in
the aggregate, a Material Adverse Effect; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) transact business only in the name of itself or, with respect to each Credit Party
other than Holdings, another Restricted Subsidiary (and, in any event, not in the name of any Unrestricted Subsidiary). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.5 <U>Maintenance of Property</U>. Each Credit Party shall maintain, and shall cause each of its
Restricted Subsidiaries to maintain, and preserve all its Property which is used or useful in its business in good working order and condition, ordinary wear and tear excepted and shall make all necessary repairs thereto and renewals and
replacements thereof except where the failure to do so would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.6 <U>Insurance</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each
Credit Party shall, and shall cause each of its Restricted Subsidiaries to, (i)&nbsp;maintain or cause to be maintained in full force and effect all policies of insurance of any kind with respect to the Property and businesses of the Credit Parties
and such Restricted Subsidiaries (including policies of life, fire, theft, product liability, public liability, Flood Insurance, property damage, other casualty, employee fidelity, workers&#146; compensation, business interruption and employee
health and welfare insurance) with financially sound and reputable insurance companies or associations (in each case that are not Affiliates of Holdings) of a nature and providing such coverage as is sufficient and as is customarily carried by
businesses of the size and character of the business of the Credit Parties and (ii)&nbsp;cause all such insurance relating to any Property or business of any Credit Party to name Agent as additional insured or lenders loss payee, as agent for the
Lenders, as appropriate. All policies of insurance on real and personal Property of the Credit Parties will contain an endorsement, in form and substance acceptable to Agent, showing loss payable to Agent (Form CP 1218 or equivalent and naming Agent
as lenders loss payee as agent for the Lenders) and extra expense and business interruption endorsements. Such endorsement, or an independent instrument furnished to Agent, will provide that the insurance companies will give Agent at least 30
days&#146; prior written notice before any such policy or policies of insurance shall be altered or canceled and that no act or default of the Credit Parties or any other Person shall affect the right of Agent to recover under such policy or
policies of insurance in case of loss or damage. Each Credit Party shall direct all present and future insurers under its &#147;All Risk&#148; policies of property insurance to pay all proceeds payable thereunder directly to Agent. Subject to the
terms of the Intercreditor Agreement, if any insurance proceeds are paid by check, draft or other instrument payable to any Credit Party and Agent jointly, Agent may endorse such Credit Party&#146;s name thereon and do such other things as Agent may
deem advisable to reduce the same to cash. Agent reserves the right at any time, upon review of each Credit Party&#146;s risk profile, to reasonably require additional forms and limits of insurance. Notwithstanding the requirement in clause
(i)&nbsp;above, Flood Insurance shall not be required for (x)&nbsp;Real Estate not located in a Special Flood Hazard Area, or (y)&nbsp;Real Estate located in a Special Flood Hazard Area in a community that does not participate in the National Flood
Insurance Program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Unless the Credit Parties provide Agent with evidence of the insurance coverage required by this Agreement
(including, without limitation, Flood Insurance), Agent may purchase insurance (including, without limitation, Flood Insurance) at the Credit Parties&#146; expense to protect Agent&#146;s and Lenders&#146; interests in the Credit Parties&#146; and
their Restricted Subsidiaries&#146; properties with ten (10)&nbsp;days&#146; prior notice to the Credit Parties; <U>provided</U> that, at any time within the 30 days prior to the date on which any of the Credit Parties&#146; existing insurance
coverage is scheduled to lapse, Agent may purchase such insurance to replace the applicable existing insurance so scheduled to lapse so long as it informs the Credit Parties of such purchase promptly thereafter. This insurance may, but need not,
protect the Credit Parties&#146; and their Restricted </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Subsidiaries&#146; interests. The coverage that Agent purchases may not pay any claim that any Credit Party or any Restricted Subsidiary of any Credit Party makes or any claim that is made
against such Credit Party or any Restricted Subsidiary in connection with said Property. The Credit Parties may later cancel any insurance purchased by Agent, but only after providing Agent with evidence that there has been obtained insurance as
required by this Agreement. If Agent purchases insurance, the Credit Parties will be responsible for the costs of that insurance, including interest and any other charges Agent may impose in connection with the placement of insurance, until the
effective date of the cancellation or expiration of the insurance. The costs of the insurance shall be added to the Obligations. The costs of the insurance may be more than the cost of insurance the Credit Parties may be able to obtain on their own.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.7 <U>Payment of Obligations</U>. Each Credit Party shall, and shall cause each of its Restricted Subsidiaries to, pay, discharge and
perform as the same shall become due and payable or required to be performed: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) all Tax liabilities, assessments and governmental
charges or levies upon it or its Property, unless the same are being contested in good faith by appropriate proceedings diligently prosecuted which stay the filing or enforcement of any Lien and for which adequate reserves in accordance with GAAP
are being maintained by such Person; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) all lawful claims which, if unpaid, would by law become a Lien upon its Property unless the same
are being contested in good faith by appropriate proceedings diligently prosecuted which stay the imposition or enforcement of any Lien and for which adequate reserves in accordance with GAAP are being maintained by such Person; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the performance of all obligations under any Contractual Obligation to such Credit Party or any of its Restricted Subsidiaries is bound,
or to which it or any of its Property is subject, including the Other Debt Documents, except where the failure to perform would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) payments to the extent necessary to avoid the imposition of a Lien with respect to, or the involuntary termination of any underfunded
Benefit Plan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.8 <U>Compliance with Laws</U>. Each Credit Party shall, and shall cause each of its Restricted Subsidiaries to, comply
with all Requirements of Law of any Governmental Authority having jurisdiction over it or its business, except where the failure to comply would not reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.9 <U>Inspection of Property and Books and Records; Appraisals</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Credit Party shall, and shall cause each of its Restricted Subsidiaries to, with respect to each owned, leased, or controlled
property, during normal business hours and upon reasonable advance notice (unless an Event of Default shall have occurred and be continuing, in which event no notice shall be required and Agent shall have access at any and all times):
(a)&nbsp;provide access to such property to Agent and any of its Related Persons, as frequently as Agent determines to be appropriate; and (b)&nbsp;permit Agent and any of its Related Persons to conduct field examinations, audit, inspect and make
extracts and copies (or take originals if reasonably necessary) from all of such Credit Party&#146;s books and records, and evaluate and make physical verifications of the Inventory and other Collateral in any manner and through any medium that
Agent considers advisable, in each instance, at the Credit Parties&#146; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
expense; provided the Credit Parties shall only be obligated to reimburse Agent for the expenses for two (2)&nbsp;such field examinations, audits and inspections per year, unless
(x)&nbsp;Availability is or has been less than the greater of $40,000,000 and 12.5% of the Aggregate Revolving Loan Commitment or (y)&nbsp;an Event of Default has occurred and is continuing. Any Lender may accompany Agent or its Related Persons in
connection with any inspection at such Lender&#146;s expense. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon Agent&#146;s request from time to time, the Credit Parties shall
permit and enable Agent to obtain appraisals in form and substance and from appraisers reasonably satisfactory to Agent stating (i)&nbsp;the then Net Orderly Liquidation Value, or such other value as determined by Agent, of all or any portion of the
Inventory of the Borrower and (ii)&nbsp;the fair market value, or such other value as determined by Agent (for example, replacement cost for purposes of Flood Insurance), of any Real Estate of any Credit Party or any Subsidiary of any Credit Party,
including any appraisal required to comply with FIRREA; <U>provided</U>, that notwithstanding any provision herein to the contrary, the Credit Parties shall only be obligated to reimburse Agent for the expenses of such appraisals occurring two
(2)&nbsp;times per year, unless (x)&nbsp;Availability is or has been less than the greater of $40,000,000 and 12.5% of the Aggregate Revolving Loan Commitment, or (y)&nbsp;an Event of Default has occurred and is continuing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.10 <U>Use of Proceeds</U>. The Borrower shall use the proceeds of the Loans solely as follows: (a)&nbsp;on the Closing Date, to refinance a
portion of the Indebtedness of the Borrower under the Existing Revolving Credit Agreement, (b)&nbsp;to pay costs and expenses of the Related Transactions and costs and expenses required to be paid pursuant to <U>Section&nbsp;2.1</U> and (c)&nbsp;for
working capital, capital expenditures and general corporate purposes not in contravention of any Requirement of Law and not in violation of this Agreement or the other Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.11 <U>Cash Management Systems</U>. Each Credit Party shall enter into, and cause each depository, securities intermediary or commodities
intermediary to enter into, Control Agreements providing for &#147;springing&#148; cash dominion with respect to each deposit, securities, commodity or similar account maintained by such Person (other than (a)&nbsp;any payroll account so long as
such payroll account is a zero balance account, (b)&nbsp;petty cash accounts, amounts on deposit in which do not exceed $250,000 in the aggregate at any one time, (c)&nbsp;zero balance disbursement accounts, (d)&nbsp;withholding tax and fiduciary
accounts and (e)&nbsp;any Credit Party&#146;s primary concentration account) as of and after the Closing Date. In addition, at Agent&#146;s request, Credit Parties will enter into Control Agreements providing for springing cash dominion over
disbursement accounts as of and after the Closing Date, except as set forth in the preceding sentence. With respect to accounts subject to &#147;springing&#148; Control Agreements, Agent shall not deliver to the relevant depository, securities
intermediary or commodities intermediary a notice or other instruction which provides for exclusive control over such account by Agent unless a Dominion Period is continuing. The Credit Parties shall cause all payments received by them each day to
be deposited into deposit accounts within one (1)&nbsp;Business Day following receipt. The Credit Parties shall not maintain cash on deposit in disbursement accounts in excess of outstanding checks and wire transfers payable from such accounts and
amounts necessary to meet minimum balance requirements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.12 <U>Access Agreements</U>. Each Credit Party shall use commercially
reasonable efforts to obtain a landlord agreement or bailee or mortgagee waivers, as applicable, from the lessor of each leased property, bailee in possession of any Collateral or mortgagee of any owned property with respect to each location where
any Collateral having a fair market value in excess of $250,000 is stored or located, which agreement shall be reasonably satisfactory in form and substance to Agent. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.13 <U>Further Assurances</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Credit Party shall ensure that all written information, exhibits and reports furnished to Agent or the Lenders do not and will not
contain any untrue statement of a material fact and do not and will not omit to state any material fact or any fact necessary to make the statements contained therein not misleading in light of the circumstances in which made, and will promptly
disclose to Agent and the Lenders and correct any defect or error that may be discovered therein or in any Loan Document or in the execution, acknowledgement or recordation thereof; <U>provided</U> that, with respect to projected financial
information, each Credit Party covenants only to ensure that such information will be prepared in good faith based on assumptions believed to be reasonable at the time prepared. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Promptly upon request by Agent, the Credit Parties shall (and, subject to the limitations set forth herein and in the Collateral
Documents, shall cause each of their Restricted Subsidiaries to) take such additional actions and execute such documents as Agent may reasonably require from time to time in order (i)&nbsp;to carry out more effectively the purposes of this Agreement
or any other Loan Document, (ii)&nbsp;to subject to the Liens created by any of the Collateral Documents any of the Properties, rights or interests covered by any of the Collateral Documents, (iii)&nbsp;to perfect and maintain the validity,
effectiveness and priority of any of the Collateral Documents and the Liens intended to be created thereby, and (iv)&nbsp;to better assure, convey, grant, assign, transfer, preserve, protect and confirm to the Secured Parties the rights granted or
now or hereafter intended to be granted to the Secured Parties under any Loan Document. Without limiting the generality of the foregoing and except as otherwise approved in writing by Required Lenders, the Credit Parties shall cause each of their
Restricted Subsidiaries (other than Excluded Subsidiaries), promptly after formation or acquisition thereof, to guaranty the Obligations and to cause each such Restricted Subsidiary (other than Excluded Subsidiaries) to grant to Agent, for the
benefit of the Secured Parties, a security interest in, subject to the limitations set forth herein and in the Collateral Documents, all of such Subsidiary&#146;s Property to secure such guaranty. Furthermore and except as otherwise approved in
writing by Required Lenders, each Credit Party shall pledge, and shall cause each of its Restricted Subsidiaries (other than Excluded Subsidiaries) to pledge, all of the Stock and Stock Equivalents of each of its Restricted Subsidiaries (other than
Excluded Subsidiaries) and sixty-six percent (66%)&nbsp;of the outstanding voting Stock and Stock Equivalents and one hundred percent (100%)&nbsp;of outstanding non-voting Stock and Stock Equivalents of each Excluded Subsidiary directly owned by a
Credit Party, in each instance, to Agent, for the benefit of the Secured Parties, to secure the Obligations, promptly after formation or acquisition of such Subsidiary. The Credit Parties shall deliver, or cause to be delivered, to Agent,
appropriate resolutions, secretary certificates, certified Organizational Documents and, if requested by Agent, legal opinions relating to the matters described in this <U>Section&nbsp;4.13</U> (which opinions shall be in form and substance
reasonably acceptable to Agent and, to the extent applicable, substantially similar to the opinions delivered on the Closing Date), in each instance with respect to each Credit Party formed or acquired after the Closing Date. In connection with each
pledge of Stock and Stock Equivalents, the Credit Parties shall deliver, or cause to be delivered, to Agent, irrevocable proxies and stock powers and/or assignments, as applicable, duly executed in blank. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) In furtherance of the foregoing, the Credit Parties shall, (i)&nbsp;within 120 days following the Closing Date (or such later date as
Agent may agree to in its sole discretion) with respect to any Specified Real Estate owned by the Credit Parties as of the Closing Date and (ii)&nbsp;upon the acquisition of any Specified Real Estate (and in any event within thirty (30)&nbsp;days
following such acquisition) following the Closing Date, notify Agent in writing of the acquisition of such Specified Real Estate and, within 120 days after the acquisition of such Specified Real </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Estate (or such later date as Agent may agree to in its sole discretion), in the case of each of <U>clauses (i)</U>&nbsp;and <U>(ii)</U>, grant to Agent, for the benefit of the Secured Parties, a
Mortgage on any such Specified Real Estate (each, a &#147;<U>Mortgage Property</U>&#148;) and shall deliver such other documentation and opinions, in form and substance reasonably satisfactory to Agent, in connection with the grant of such Mortgage
as Agent shall determine are reasonably necessary to protect Agent&#146;s Lien therein (collectively, the &#147;<U>Mortgage Supporting Documentation</U>&#148;), including the following: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) <U>Mortgages</U>. Fully executed counterparts of the Mortgage with respect to such Mortgage Property, together with evidence that
counterparts of such Mortgage have been delivered to any title insurance company as shall be retained by the Credit Parties (the &#147;<U>Title Company</U>&#148;) for recording in all places to the extent necessary, or in the determination of Agent,
reasonably desirable, to effectively create a valid and enforceable Lien on such Mortgage in favor of Agent for its benefit and the benefit of the other Secured Parties (provided that in jurisdictions that impose mortgage recording taxes, such
Mortgage shall not secure indebtedness in an amount exceeding 100% of the fair market value of such Mortgaged Property, as reasonably determined, in good faith, by the Credit Parties); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Insurance</U>. Policies or certificates of insurance covering such Mortgaged Property, for the benefit of Agent and the other Secured
Parties, as additional insured and loss payee and mortgagee, and shall otherwise bear endorsements of the character determined by Agent to be reasonably necessary in the applicable circumstances and, within forty-five (45)&nbsp;days after written
notice from Agent to the Credit Parties that any Mortgaged Property is located in a Special Flood Hazard Area, the Credit Parties shall satisfy the Flood Insurance requirements of <U>Section&nbsp;4.6(a)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) <U>Opinions of Counsel</U>. Customary and favorable opinions addressed to Agent and the Lenders, of (x)&nbsp;local counsel in the
jurisdiction where such Mortgaged Property is located regarding the enforceability and perfection of the Mortgage and, in cases where the applicable Grantor is organized in the jurisdiction where such Mortgaged Property is located, regarding the
valid existence, due authorization, execution and delivery the related Mortgage, and (y)&nbsp;except in instances where such items are addressed in the opinion from local counsel, counsel for the Grantors regarding valid existence, due
authorization, execution and delivery of such Mortgage, in each case, in form and substance reasonably acceptable to Agent; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv)
<U>Title Insurance</U>. With respect to the related Mortgage, a fully paid American Land Title Association Lender&#146;s Extended Coverage policy of title insurance (or commitment to issue such a policy having the effect of a policy of title
insurance) insuring (or committing to insure) the Lien of such Mortgage as a valid and enforceable first priority Lien on such Mortgaged Property, in an amount not less than 100% of the fair market value of such Mortgaged Property as reasonably
determined, in good faith, by the Credit Parties (such policies collectively, the &#147;<U>Mortgage Policy</U>&#148;) issued by such Title Company, which reasonably assures Agent that such Mortgage is a valid and enforceable Lien on such Mortgaged
Property, free and clear of all defects and encumbrances subject only to the Liens permitted under <U>Section&nbsp;5.1(p)</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v)
<U>Survey</U>. An American Land Title Association/American Congress on Surveying and Mapping form survey of such Mortgaged Property (and all improvements thereon) (A)&nbsp;which has been prepared by a surveyor or engineer duly registered and
licensed to perform surveys in the jurisdiction where such Mortgaged Property is located, (B)&nbsp;which is dated (or redated) to a date not earlier than 120 days prior to the delivery thereof, (C)&nbsp;which is certified by the surveyor (in a
manner determined by Agent to be reasonably acceptable) to Agent, the Secured Parties and the Title Company, (D)&nbsp;which is in compliance, in all respects, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
with the minimum detail requirements of the American Land Title Association as such requirements are in effect on the date of preparation of such survey, (E)&nbsp;which is sufficient for the
title company to remove all standard survey exceptions from the title insurance policy (or commitment) relating to such Mortgaged Property and issue the endorsements of the type required by <U>clause&nbsp;(D)</U> above, and (F)&nbsp;for which
necessary fees (if applicable) have been paid; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi) <U>Appraisals</U>. If requested by Agent, a FIRREA-compliant appraisal with respect
to such Mortgaged Property; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vii) <U>Fixture Filings</U>. Proper fixture filings under the applicable UCC on Form UCC-1 for filing under
the applicable UCC in the appropriate jurisdiction in which such Mortgaged Property located, desirable to perfect the security interests in fixtures purported to be created by the related Mortgage in favor of Agent for its benefit and the benefit of
the Secured Parties; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(viii) <U>Mortgaged Properties Indemnification</U>. With respect to such Mortgaged Property, such affidavits,
certificates, instruments of indemnification and other items (including a so-called &#147;gap&#148; indemnification) as shall be reasonably required to induce the Title Company to issue the Mortgage Policies and endorsements contemplated above; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ix) <U>Collateral Fees and Expenses</U>. Evidence of payment by the Credit Parties of all Mortgage Policy premiums, search and
examination charges, mortgage filing and recording taxes, fees, charges, costs and expenses required for the recording of the applicable Mortgage, fixture filings and issuance of the Mortgage Policies referred to above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) To the extent reasonably necessary to maintain the continuing priority of the Lien of any existing Mortgages as security for the
Obligations in connection with the incurrence of an Incremental Revolving Loan Commitment, as determined by Agent in its reasonable discretion, the Credit Parties shall, within thirty (30)&nbsp;days of such funding or incurrence (or such later date
as agreed by Agent in its sole discretion), (i)&nbsp;enter into and deliver to Agent, at the direction and in the reasonable discretion of Agent, a mortgage modification or new Mortgage in proper form for recording in the relevant jurisdiction and
in a form reasonably satisfactory to Agent, (ii)&nbsp;cause to be delivered to Agent for the benefit of the Secured Parties an endorsement to the Mortgage Policy, date down(s) or other evidence reasonably satisfactory to Agent insuring that the
priority of the Lien of the Mortgages as security for the Obligations has not changed and confirming and/or insuring that since the issuance of the Mortgage Policy there has been no change in the condition of title and there are no intervening liens
or encumbrances which may then or thereafter take priority over the Lien of the Mortgages other than as permitted under <U>Section&nbsp;5.1(p</U>) and (iii)&nbsp;deliver, at the request of Agent, to Agent and/or all other relevant third parties, all
other items reasonably necessary to maintain the continuing priority of the Lien of the Mortgages as security for the Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.14
<U>Environmental Matters</U>. Each Credit Party shall, and shall cause each of its Restricted Subsidiaries to, comply with, and maintain its Real Estate, whether owned, leased, subleased or otherwise operated or occupied, in compliance with, all
applicable Environmental Laws (including by implementing any Remedial Action necessary to achieve such compliance) or that is required by orders and directives of any Governmental Authority except where the failure to comply would not reasonably be
expected to, individually or in the aggregate, result in a Material Environmental Liability. Without limiting the foregoing, if an Event of Default is continuing or if Agent at any time has a reasonable basis to believe that there exist violations
of Environmental Laws by any Credit Party or any Restricted Subsidiary of any Credit Party or that </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
there exist any Environmental Liabilities, then each Credit Party shall, promptly upon receipt of request from Agent, cause the performance of, and allow Agent and its Related Persons access to
such Real Estate for the purpose of conducting, such environmental audits and assessments, including subsurface sampling of soil and groundwater, and cause the preparation of such reports, in each case as Agent may from time to time reasonably
request. Such audits, assessments and reports, to the extent not conducted by Agent or any of its Related Persons, shall be conducted and prepared by reputable environmental consulting firms reasonably acceptable to Agent and shall be in form and
substance reasonably acceptable to Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE V. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>NEGATIVE COVENANTS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each
Credit Party covenants and agrees that, until the Facility Termination Date: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.1 <U>Limitation on Liens</U>. No Credit Party shall, and
no Credit Party shall suffer or permit any of its Restricted Subsidiaries to, directly or indirectly, make, create, incur, assume or suffer to exist any Lien upon or with respect to any part of its Property, whether now owned or hereafter acquired,
other than the following (&#147;<U>Permitted Liens</U>&#148;): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any Lien existing on the Property of a Credit Party or a Restricted
Subsidiary of a Credit Party on the Closing Date and set forth in <U>Schedule 5.1</U> securing Indebtedness outstanding on such date and permitted by <U>Section&nbsp;5.5(c)</U>, including replacement Liens on the Property currently subject to such
Liens securing Indebtedness permitted by <U>Section&nbsp;5.5(c)</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any Lien created under any Loan Document; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Liens for Taxes (i)&nbsp;which are not past due or remain payable without penalty, or (ii)&nbsp;the
<FONT STYLE="white-space:nowrap">non-payment</FONT> of which is permitted by <U>Section&nbsp;4.7</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) carriers&#146;,
warehousemen&#146;s, mechanics&#146;, landlords&#146;, materialmen&#146;s, repairmen&#146;s or other similar Liens arising in the Ordinary Course of Business which are not delinquent for more than ninety (90)&nbsp;days or remain payable without
penalty or which are being contested in good faith and by appropriate proceedings diligently prosecuted, which proceedings have the effect of preventing the forfeiture or sale of the Property subject thereto and for which adequate reserves in
accordance with GAAP are being maintained; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Liens (other than any Lien imposed by ERISA) consisting of pledges or deposits required in
the Ordinary Course of Business in connection with workers&#146; compensation, unemployment insurance and other social security legislation or to secure the performance of tenders, statutory obligations, surety, stay, customs and appeals bonds,
bids, leases, governmental contract, trade contracts, performance and return of money bonds and other similar obligations (exclusive of obligations for the payment of borrowed money) or to secure liability to insurance carriers; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Liens consisting of judgment or judicial attachment liens with respect to judgments the existence of which do not constitute an Event of
Default; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) easements, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">rights-of-way,</FONT></FONT> zoning and other
restrictions, minor defects or other irregularities in title, and other similar encumbrances incurred in the Ordinary Course of Business which, either individually or in the aggregate, are not substantial in amount, and which
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
do not in any case materially detract from the value of the Property subject thereto or interfere in any material respect with the ordinary conduct of the businesses of any Credit Party or any
Restricted Subsidiary of any Credit Party; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Liens on any Property acquired or held by any Credit Party or any Restricted Subsidiary of
any Credit Party securing Indebtedness incurred or assumed for the purpose of financing (or refinancing) all or any part of the cost of acquiring or installing such Property and permitted under <U>Section&nbsp;5.5(d)</U>; provided that (i)&nbsp;any
such Lien attaches to such Property concurrently with or within twenty (20)&nbsp;days after the acquisition thereof, (ii)&nbsp;such Lien attaches solely to the Property so acquired in such transaction and the proceeds thereof, and (iii)&nbsp;the
principal amount of the debt secured thereby does not exceed 100% of the cost of such Property; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Liens securing Capital Lease
Obligations permitted under <U>Section&nbsp;5.5(d)</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) any interest or title of a lessor or sublessor under any lease permitted by
this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) Liens arising from the filing of precautionary uniform commercial code financing statements with respect to any lease
permitted by this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) non-exclusive licenses and sublicenses granted by a Credit Party and leases or subleases (by a Credit
Party as lessor or sublessor) to third parties in the Ordinary Course of Business not interfering with the business of the Credit Parties or any of their Restricted Subsidiaries; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) Liens in favor of collecting banks arising by operation of law under Section&nbsp;4-210 of the UCC or, with respect to collecting banks
located in the State of New York, under Section&nbsp;4-208 of the UCC; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) Liens (including the right of setoff) in favor of a bank or
other depository institution arising as a matter of law encumbering deposits; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) Liens in favor of customs and revenue authorities
arising as a matter of law which secure payment of customs duties in connection with the importation of goods in the Ordinary Course of Business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) Liens securing Indebtedness under the Senior Notes Documents to the extent such Indebtedness is permitted hereunder and under the
Intercreditor Agreement; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) Liens on the Specified Mill Assets securing Indebtedness under the Rexam Financing Documents to the
extent such Indebtedness is permitted hereunder and under the Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.2 <U>Disposition of Assets</U>. No Credit Party
shall, and no Credit Party shall suffer or permit any of its Restricted Subsidiaries to, directly or indirectly, sell, assign, lease, convey, transfer or otherwise dispose of (whether in one or a series of transactions) any Property (including the
Stock of any Restricted Subsidiary of any Credit Party, whether in a public or a private offering or otherwise, and accounts and notes receivable, with or without recourse) or enter into any agreement to do any of the foregoing, except: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) dispositions in the Ordinary Course of Business of Inventory or <FONT STYLE="white-space:nowrap">worn-out</FONT> or surplus Equipment;
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) dispositions (other than of (x)&nbsp;the Stock of any Restricted Subsidiary of any Credit
Party or (y)&nbsp;any Accounts or Inventory of any Credit Party) not otherwise permitted hereunder which are made for fair market value and either (A)&nbsp;satisfy each of the following criteria: (i)&nbsp;at the time of any such disposition, no
Event of Default shall exist or shall result therefrom, (ii)&nbsp;the sales price from any such disposition shall be paid in cash (and/or, solely with respect to the dispositions of the Stock (or all, or substantially all, of the assets) of any
Unrestricted Subsidiary, Stock of the related purchaser) and (iii)&nbsp;subject to the Intercreditor Agreement and except with respect to dispositions of the Stock (or all, or substantially all, of the assets) of any Unrestricted Subsidiary to the
extent of any consideration received consisting of Stock of the related purchaser, the Net Proceeds of any such disposition shall be applied to the Loans or (B)&nbsp;constitute dispositions for which the aggregate book value of the Property subject
to such dispositions does not collectively exceed $5,000,000 during the term of this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) (i)&nbsp;dispositions of Cash
Equivalents in the Ordinary Course of Business made to a Person that is not an Affiliate of any Credit Party and (ii)&nbsp;conversions of Cash Equivalents into cash or other Cash Equivalents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) transactions permitted under <U>Section&nbsp;5.1(l)</U>; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) leases of Equipment or Real Estate to joint ventures (which may be partially owned by a Credit Party) that enter into purchase agreements
with a Credit Party to purchase such Credit Party&#146;s products, in each case, in the Ordinary Course of Business, on arm&#146;s length terms and in compliance with <U>Section&nbsp;5.6(a)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.3 <U>Consolidations and Mergers</U>. No Credit Party shall, and no Credit Party shall suffer or permit any of its Restricted Subsidiaries to
merge, consolidate with or into, or convey, transfer, lease or otherwise dispose of (whether in one transaction or in a series of transactions) all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any
Person, except, upon not less than five (5)&nbsp;Business Days prior written notice to Agent, (i)&nbsp;to consummate a Permitted Acquisition, (ii)&nbsp;to merge with, or dissolve or liquidate into, into any Credit Party and (iii)&nbsp;with respect
to any Excluded Subsidiary of any Credit Party, to merge with, or dissolve or liquidate into, any other Excluded Subsidiary of any Credit Party; <U>provided</U>, <U>however</U>, that (x)&nbsp;in the case of any merger, consolidation, conveyance,
dissolution or liquidation involving the Borrower, the Borrower shall be the surviving Person and (y)&nbsp;in the case of any merger, consolidation, conveyance, dissolution or liquidation involving any other Credit Party, a Credit Party shall be the
surviving Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.4 <U>Acquisitions; Loans and Investments</U>. No Credit Party shall and no Credit Party shall suffer or permit any of
its Restricted Subsidiaries to (i)&nbsp;purchase or acquire, or make any commitment to purchase or acquire any Stock or Stock Equivalents, or any obligations or other securities of, or any interest in, any Person, including the establishment or
creation of a Subsidiary, (ii)&nbsp;make or commit to make any Acquisitions, or any other acquisition of all or substantially all of the assets of another Person, or of any business or division of any Person, including without limitation, by way of
merger, consolidation or other combination or (iii)&nbsp;make or purchase, or commit to make or purchase, any advance, loan, extension of credit or capital contribution to or any other investment in, any Person including the Borrower, any Affiliate
of the Borrower or any Subsidiary of Holdings (the items described in <U>clauses (i)</U>, <U>(ii)</U>&nbsp;and <U>(iii)</U>&nbsp;are referred to as &#147;<U>Investments</U>&#148;), except for: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Investments in cash and Cash Equivalents; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Investments consisting of (i)&nbsp;extensions of credit or capital contributions by Holdings
to or in any Credit Party, (ii)&nbsp;extensions of credit or capital contributions by any Credit Party (other than Holdings) to or in any other then existing Credit Party (other than Holdings); provided, that (A)&nbsp;if any Credit Party executes
and delivers to any other Credit Party a note (collectively, the &#147;<U>Intercompany Notes</U>&#148;) to evidence any Investments described in the foregoing clauses (i)&nbsp;and (ii)&nbsp;that Intercompany Note shall be pledged and delivered to
Agent pursuant to the Guaranty and Security Agreement as additional collateral security for the Obligations; (B)&nbsp;each Credit Party shall accurately record all intercompany transactions on its books and records; and (C)&nbsp;at the time any such
intercompany loan or advance is made by the Borrower to any other Credit Party and after giving effect thereto, the Borrower and its Subsidiaries, on a consolidated basis, shall be Solvent, and (iii)&nbsp;extensions of credit or capital
contributions by an Excluded Subsidiary of any Credit Party to or in another Excluded Subsidiary of any Credit Party; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Investments
received as the non-cash portion of consideration received in connection with transactions permitted pursuant to <U>Section&nbsp;5.2(b)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Investments acquired in connection with the settlement of delinquent Accounts in the Ordinary Course of Business or in connection with the
bankruptcy or reorganization of suppliers or customers; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Investments existing on the Closing Date and set forth in <U>Schedule
5.4</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) loans or advances to employees of Credit Parties for travel, entertainment and relocation expenses and other ordinary
business purposes in the Ordinary Course of Business not to exceed $3,000,000 in the aggregate outstanding at any time; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) non-cash
loans or advances made by any Credit Party to employees of Credit Parties that are simultaneously used by such Persons to purchase Stock or Stock Equivalents of the direct or indirect parent of such Credit Party; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Investments in Wise Recycling LLC and any of its Subsidiaries in an amount not to exceed $15,000,000 in the aggregate outstanding at any
time; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Investments comprised of Contingent Obligations permitted by <U>Section&nbsp;5.8</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) Permitted Acquisitions; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) other Investments in an amount not to exceed $25,000,000 in aggregate during the term of this Agreement, so long as, after giving effect
to any such Investment, either (x)&nbsp;Availability is not less than the greater of (i)&nbsp;$70,000,000 and (ii)&nbsp;20% of the Aggregate Revolving Loan Commitment at such time or (y)&nbsp;Availability is not less than the greater of
(i)&nbsp;$50,000,000 and (ii)&nbsp;15% of the Aggregate Revolving Loan Commitment at such time and, in the case of this <U>clause (y)</U>, the Fixed Charge Coverage Ratio, calculated on a pro forma basis for the twelve month period ending as of the
last day of the most recently ended fiscal month for which financial statements have been or were required to be delivered under <U>Section&nbsp;4.1</U>, is not less than 1.00 to 1.00. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.5 <U>Limitation on Indebtedness</U>. No Credit Party shall, and no Credit Party shall suffer or
permit any of its Restricted Subsidiaries to, create, incur, assume, permit to exist, or otherwise become or remain directly or indirectly liable with respect to, any Indebtedness, except: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
Indebtedness consisting of Contingent Obligations permitted pursuant to <U>Section&nbsp;5.8</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Indebtedness existing on the Closing
Date and set forth in <U>Schedule 5.5</U> including Permitted Refinancings thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Indebtedness not to exceed $75,000,000 in the
aggregate at any time outstanding, consisting of Capital Lease Obligations or secured by Liens permitted by <U>Section&nbsp;5.1(h)</U> and Permitted Refinancings thereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) unsecured intercompany Indebtedness permitted pursuant to <U>Section&nbsp;5.4(b)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) unsecured Subordinated Indebtedness; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Indebtedness of the Borrower to Rexam evidenced by or arising under the Rexam Financing Documents; <U>provided</U> that the aggregate
principal amount of such Indebtedness shall not exceed $25,000,000, less the aggregate amount of all repayments, repurchases, redemptions, rebates or credits, whether option or mandatory, in respect thereof, plus interest thereon (whether or not
capitalized) at the rate provided in the Rexam Financing Documents and any Permitted Refinancing thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Indebtedness of Holdings
and Wise Alloys Finance Corporation to the Senior Noteholders evidenced by or arising under the Senior Notes Documents and any Permitted Refinancing thereof; <U>provided</U> that the aggregate principal amount of such Indebtedness shall not at any
time exceed $650,000,000; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) other unsecured Indebtedness owing to Persons that are not Affiliates of the Credit Parties not
exceeding $100,000,000 in the aggregate at any time outstanding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.6 <U>Transactions with Affiliates</U>. No Credit Party shall, and no
Credit Party shall suffer or permit any of its Restricted Subsidiaries to, enter into any transaction with any Affiliate of Holdings or of any such Restricted Subsidiary, except: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) in the Ordinary Course of Business and pursuant to the reasonable requirements of the business of such Credit Party or such Restricted
Subsidiary upon fair and reasonable terms no less favorable to such Credit Party or such Restricted Subsidiary than would be obtained in a comparable arm&#146;s length transaction with a Person not an Affiliate of Holdings or such Restricted
Subsidiary and which are set forth on Schedule 5.6(a) or otherwise disclosed in writing to Agent; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any issuance of Stock or other
payments, awards or grants in cash, Stock or otherwise pursuant to, or the funding of, employment arrangements, stock options and stock ownership plans approved by the board of directors (or other similar body) of the applicable Credit Party; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) purchases of goods from Wise Recycling, LLC in a manner consistent with past practice; and
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) any other transactions expressly permitted by this Agreement (other than transactions permitted pursuant to
<U>Section&nbsp;5.2(a)</U>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.7 <U>Margin Stock; Use of Proceeds</U>. No Credit Party shall, and no Credit Party shall suffer or permit
any of its Restricted Subsidiaries to, use any portion of the Loan proceeds, directly or indirectly, to purchase or carry Margin Stock or repay or otherwise refinance Indebtedness of any Credit Party or others incurred to purchase or carry Margin
Stock, or otherwise in any manner which is in contravention of any Requirement of Law or in violation of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.8
<U>Contingent Obligations</U>. No Credit Party shall, and no Credit Party shall suffer or permit any of its Restricted Subsidiaries to, create, incur, assume or suffer to exist any Contingent Obligations except in respect of the Obligations and
except: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) endorsements for collection or deposit in the Ordinary Course of Business; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Rate Contracts entered into in the Ordinary Course of Business for bona fide hedging purposes and not for speculation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Contingent Obligations of the Credit Parties and their Restricted Subsidiaries existing as of the Closing Date and listed in <U>Schedule
5.8</U>, including extension and renewals thereof which do not increase the amount of such Contingent Obligations or impose materially more restrictive or adverse terms on the Credit Parties or their Subsidiaries as compared to the terms of the
Contingent Obligation being renewed or extended; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Contingent Obligations arising under indemnity agreements to title insurers to cause
such title insurers to issue to Agent title insurance policies; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Contingent Obligations arising with respect to (i)&nbsp;customary
indemnification obligations and obligations in respect of purchase price adjustments and earnouts in favor of sellers in connection with Permitted Acquisitions and (ii)&nbsp;customary indemnification obligations in favor of purchasers in connection
with dispositions permitted under <U>Section&nbsp;5.2(b)</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Contingent Obligations arising under Letters of Credit; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Contingent Obligations arising under guaranties made in the Ordinary Course of Business of obligations of any Credit Party, which
obligations are otherwise permitted hereunder; provided that if such obligation is subordinated to the Obligations, such guaranty shall be subordinated to the same extent; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) Contingent Obligations arising under surety and appeal bonds, performance bonds and other obligations of like nature, in each case, in the
Ordinary Course of Business; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Contingent Obligations of any Credit Party arising under any guaranties of Indebtedness permitted
pursuant to <U>Section&nbsp;5.5(h)</U>; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) other Contingent Obligations not exceeding $1,000,000 in the aggregate at any time
outstanding. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.9 <U>Compliance with ERISA</U>. No ERISA Affiliate shall cause or suffer to exist (a)&nbsp;any
event that could result in the imposition of a Lien on any asset of a Credit Party or a Restricted Subsidiary of a Credit Party with respect to any Title IV Plan or Multiemployer Plan or (b)&nbsp;any other ERISA Event, that would, in the aggregate,
have a Material Adverse Effect. No Credit Party shall cause or suffer to exist any event that could result in the imposition of a Lien with respect to any Benefit Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.10 <U>Restricted Payments</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No Credit Party shall, and no Credit Party shall suffer or permit any of its Restricted Subsidiaries to, (i)&nbsp;declare or make any dividend
payment or other distribution of assets, properties, cash, rights, obligations or securities on account of any Stock or Stock Equivalent, (ii)&nbsp;purchase, redeem or otherwise acquire for value any Stock or Stock Equivalent now or hereafter
outstanding, (iii)&nbsp;make any payment (whether by dividend, distribution, loan or otherwise) of management, consulting or other fees or expenses for management or similar services, including payments to officers and directors, or (iv)&nbsp;make
any payment or prepayment of principal of, premium, if any, interest, fees, redemption, exchange, purchase, retirement, defeasance, sinking fund or similar payment with respect to, Subordinated Indebtedness (the items described in <U>clauses
(i)</U>, <U>(ii)</U>, <U>(iii)</U>&nbsp;and <U>(iv)</U>&nbsp;above are referred to as &#147;<U>Restricted Payments</U>&#148;); except that any Wholly-Owned Subsidiary of the Borrower may declare and pay dividends to the Borrower or any Wholly-Owned
Subsidiary of the Borrower, and except that: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) (i) Wise Alloys Finance Corporation may make distributions to the Borrower of the
proceeds of the issuance of the Senior Notes on the Closing Date received by it and the Borrower may subsequently distribute such proceeds to Holdings and (ii)&nbsp;Holdings may redeem its outstanding 10% paid-in-kind preferred, non-convertible
membership interests with the proceeds of the issuance of the Senior Notes on the Closing Date received by it and distributed to it by the Wise Alloys Finance Corporation or the Borrower pursuant to <U>clause (i)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Holdings may declare and make dividend payments or other distributions payable solely in its Stock or Stock Equivalents; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) so long as no Default or Event of Default exists or would arise as a result of such Restricted Payment, the Borrower or any other Credit
Party may make distributions to Holdings which are immediately used by Holdings to redeem from officers, directors and employees Stock and Stock Equivalents in an aggregate amount not to exceed $2,000,000 in any Fiscal Year or $5,000,000 during the
term of this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) in the event the Credit Parties file a consolidated, combined, unitary or similar type income Tax return with
Holdings, the Credit Parties may make distributions to Holdings to permit Holdings to pay federal and state income Taxes then due and payable, franchise Taxes and other similar licensing expenses incurred in the Ordinary Course of Business provided,
that the amount of such distribution shall not be greater than the amount of such Taxes or expenses that would have been due and payable by the Credit Parties had the Credit Parties not filed a consolidated, combined, unitary or similar type return
with Holdings; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the Credit Parties may pay, as and when due and payable, non-accelerated mandatory payments
in respect of Subordinated Indebtedness, solely to the extent permitted under the subordination terms with respect thereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) so long
as Holdings is treated as a pass-through or disregarded entity for federal and state income tax purposes, each Credit Party that is treated as a pass-through or disregarded entity for federal and state income tax purposes may make distributions to
Holdings, and Holdings may make tax distributions to its members (collectively, &#147;<U>Tax Distributions</U>&#148;), provided and only to the extent each of the following shall have been satisfied: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) Tax Distributions may be made quarterly provided: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(1) such Tax Distributions are made to the members of Holdings on a pro rata basis in proportion to their respective percentage interests in
Holdings&#146; (except as otherwise required below); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(2) the aggregate amount of such Tax Distributions does not exceed, quarterly, an
amount equal to, Holdings&#146; good faith estimate of the Applicable Tax (as hereinafter defined) with respect to such taxable year, less the amount paid, if any, with respect to prior quarters of such taxable year; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) additional Tax Distributions may be made annually after the end of Holdings&#146; taxable year, to the extent necessary so that the sum
of the amounts so distributed pursuant to this <U>clause (ii)</U>&nbsp;and the amounts distributed pursuant to <U>clause&nbsp;(i)</U> equals the minimum aggregate amount (the &#147;<U>Applicable Tax</U>&#148;) that must be distributed to provide
each member with an amount that equals the product of: (1)&nbsp;the sum of all items of taxable income or gain allocated to such member and attributable to such Credit Party for such taxable year less all items of deduction, loss and the loss
equivalent of tax credits allocated to such member (or, to the extent applicable, its predecessors in interest) for such taxable year and all prior taxable years to the extent not previously offset by taxable income or gain allocated to such member
(or, to the extent applicable, its predecessors in interest) and (2)&nbsp;a percentage equal to [(100%-B) x A] + B, where &#147;A&#148; is the highest marginal federal income tax rate applicable to a corporation or individual (as appropriate) for
such preceding taxable year and &#147;B,&#148; with respect to each member, is the highest marginal state income tax rate applicable to members for such preceding taxable year; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><U>provided</U>, <U>however</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) if the amount distributed to members pursuant to <U>clause (i)</U>&nbsp;for the taxable year exceeds the Applicable Tax for
such taxable year (including where the amounts included in taxable income of Holdings for such taxable year are decreased as result of an audit, amended return or otherwise), then, if the amount of such excess exceeds $100,000, it shall be an Event
of Default if Holdings and such Credit Party do not promptly receive a refund of (or a capital contribution in the amount of) such excess; provided if the amount of such excess is equal to or is less than $100,000, such excess shall be credited
against the next Tax Distributions permitted to be made with respect to subsequent taxable years; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) Tax Distributions
may only be made for the taxable period commencing on the Closing Date and ending on December&nbsp;31, 2013 and each taxable year thereafter; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) no later than five (5)&nbsp;Business Days prior to making any Tax Distribution, such Credit Party shall have delivered to
Agent a certificate duly executed and completed by a financial officer of such Credit Party stating the amount of the Tax Distribution and containing a schedule, in reasonable detail, setting forth the calculation thereof; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) if, both before and after giving effect thereto, (i)&nbsp;no Event of Default has occurred
and is continuing and (ii)&nbsp;the Borrower and its Subsidiaries, on a consolidated basis, are Solvent, the Credit Parties and their Restricted Subsidiaries may make (A)&nbsp;other Restricted Payments (other than Restricted Payments of the type
described in <U>clause (iv)</U>&nbsp;of the definition thereof) in an amount not to exceed $7,500,000 in any Fiscal Year and (B)&nbsp;additional Restricted Payments in excess of $7,500,000 if, both before and after giving effect to such additional
Restricted Payments under this <U>clause (B)</U>, (x)&nbsp;Availability is not less than the greater of (1)&nbsp;$50,000,000 and (2)&nbsp;15% of the Aggregate Revolving Commitment at such time and (y)&nbsp;the Fixed Charge Coverage Ratio, calculated
on a pro forma basis for the twelve month period ending as of the last day of the most recently ended fiscal month for which financial statements have been or were required to be delivered under <U>Section&nbsp;4.1</U>, is not less than 1.05 to
1.00. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.11 <U>Change in Business</U>. No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to,
engage in any line of business substantially different from those lines of business carried on by it on the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.12 <U>Change
in Structure</U>. Except as expressly permitted under <U>Section&nbsp;5.3</U>, no Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to, make any material changes in its equity capital structure, issue any Stock
or Stock Equivalents or amend any of its Organization Documents in any material respect and, in each case, in any respect adverse to Agent or Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.13 <U>Changes in Accounting, Name or Jurisdiction of Organization</U>. No Credit Party shall, and no Credit Party shall suffer or permit any
of its Subsidiaries to, (i)&nbsp;make any significant change in accounting treatment or reporting practices, except as required by GAAP, (ii)&nbsp;change the Fiscal Year or method for determining Fiscal Quarters of such Credit Party or of any
consolidated Subsidiary of such Credit Party, (iii)&nbsp;to the extent such Subsidiary is a Restricted Subsidiary, change its name as it appears in official filings in its jurisdiction of organization or (iv)&nbsp;to the extent such Subsidiary is a
Restricted Subsidiary, change its jurisdiction of organization, in the case of <U>clauses</U> <U>(iii)</U>&nbsp;and <U>(iv)</U>, without at least twenty (20)&nbsp;days&#146; prior written notice to Agent and the acknowledgement of Agent that all
actions required by Agent, including those to continue the perfection of its Liens, have been completed or will be completed. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.14
<U>Amendments to Material Contracts and Other Debt Documents.</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) No Credit Party shall and no Credit Party shall permit any of its
Restricted Subsidiaries, to (i)&nbsp;amend, supplement, waive or otherwise modify any provision of, any Material Contract in a manner adverse to Agent or Lenders or which would reasonably be expected to have a Material Adverse Effect, or
(ii)&nbsp;take or fail to take any action under any of the foregoing that would reasonably be expected to have a Material Adverse Effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries directly or indirectly to, change or amend the
terms of any (i)&nbsp;Other Debt Document, except to the extent permitted by the Intercreditor Agreement or (ii)&nbsp;any other Subordinated Indebtedness, if, in the case of this <U>clause (ii)</U>, the effect of such change or
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amendment is to: (A)&nbsp;increase the interest rate on such Subordinated Indebtedness; (B)&nbsp;shorten the dates upon which payments of principal or interest are due on such Subordinated
Indebtedness; (C)&nbsp;add or change in a manner adverse to the Credit Parties any event of default or add or make more restrictive any covenant with respect to such Subordinated Indebtedness; (D)&nbsp;change in a manner adverse to the Credit
Parties the prepayment provisions of such Subordinated Indebtedness; (E)&nbsp;change the subordination provisions thereof (or the subordination terms of any guaranty thereof); or (F)&nbsp;change or amend any other term if such change or amendment
would materially increase the obligations of the Credit Parties or confer additional material rights on the holder of such Indebtedness in a manner adverse to the Credit Parties, Agent or Lenders. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.15 <U>No Negative Pledges</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise
cause or suffer to exist or become effective any consensual restriction or encumbrance of any kind on the ability of any Credit Party or Restricted Subsidiary to pay dividends or make any other distribution on any of such Credit Party&#146;s or
Subsidiary&#146;s Stock or Stock Equivalents or to pay fees, including management fees, or make other payments and distributions to Holdings or any other Credit Party, other than pursuant to the Senior Notes Documents. No Credit Party shall, and no
Credit Party shall permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, assume or become subject to any Contractual Obligation prohibiting or otherwise restricting the existence of any Lien upon any of its assets in
favor of Agent, whether now owned or hereafter acquired except in connection with any document or instrument governing Liens permitted pursuant to <U>Sections 5.1(h)</U> and <U>5.1(i)</U> provided that any such restriction contained therein relates
only to the asset or assets subject to such permitted Liens or the Other Debt Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.16 <U>OFAC; Patriot Act</U>. No Credit Party
shall, and no Credit Party shall permit any of its Restricted Subsidiaries to fail to comply with the laws, regulations and executive orders referred to in <U>Sections 3.27</U> and <U>3.28</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.17 <U>Sale-Leasebacks</U>. No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to, engage in a sale
leaseback, synthetic lease or similar transaction involving any of its assets, except for any such transactions for which the aggregate book value of all assets subject to such transactions, when combined with the book value of all assets financed
with Indebtedness permitted under <U>Section&nbsp;5.5(d)</U>, does not exceed $75,000,000 in the aggregate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.18 <U>Hazardous
Materials</U>. No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to, cause or suffer to exist any Release of any Hazardous Material at, to or from any Real Estate that would violate any Environmental Law,
form the basis for any Environmental Liabilities or otherwise adversely affect the value or marketability of any Real Estate (whether or not owned by any Credit Party or any Restricted Subsidiary of any Credit Party), except as would not reasonably
be expected to, individually or in the aggregate, result in Material Environmental Liabilities. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.19 <U>Prepayments of Other
Indebtedness</U>. No Credit Party shall, directly or indirectly, voluntarily purchase, redeem, defease or prepay any principal of, premium, if any, interest or other amount payable in respect of any Indebtedness (other than Subordinated
Indebtedness) prior to its scheduled maturity, other than (a)&nbsp;the Obligations, (b)&nbsp;Indebtedness secured by a Permitted Lien if the asset securing such Indebtedness has been sold or otherwise disposed of in a transaction permitted
hereunder, (c)&nbsp;a Permitted Refinancing of Indebtedness permitted under <U>Section&nbsp;5.5(c)</U>, <U>(d)</U>, <U>(g)</U>&nbsp;or <U>(h)</U>, (d)&nbsp;prepayments of other Indebtedness (excluding Subordinated Indebtedness) so long as the
amounts prepaid do not exceed $1,000,000 in the aggregate, and (e)&nbsp;prepayment of intercompany Indebtedness to Credit Parties. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.20 <U>Fixed Charge Coverage Ratio</U>. If a Trigger Event has occurred and is continuing, such
Credit Party shall not permit the Fixed Charge Coverage Ratio for the twelve month period ending as of the last day of the most recently ended fiscal month for which financial statements have been or were required to be delivered pursuant to
<U>Section&nbsp;4.1</U> to be less than 1.00 to 1.00. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VI. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EVENTS OF DEFAULT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.1
<U>Events of Default</U>. Any of the following shall constitute an &#147;Event of Default&#148;: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Non-Payment</U>. Any Credit Party
fails (i)&nbsp;to pay when and as required to be paid herein, any amount of principal of, or interest on, any Loan, including after maturity of the Loans, or to pay any L/C Reimbursement Obligation or (ii)&nbsp;to pay within three (3)&nbsp;Business
Days after the same shall become due, any fee or any other amount payable hereunder or pursuant to any other Loan Document; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
<U>Representation or Warranty</U>. (i)&nbsp;Any representation, warranty or certification by or on behalf of any Credit Party or any of its Restricted Subsidiaries made or deemed made herein, in any other Loan Document, or which is contained in any
certificate, document or financial or other statement by any such Person, or their respective Responsible Officers, furnished at any time under this Agreement, or in or under any other Loan Document, shall prove to have been incorrect in any
material respect (without duplication of other materiality qualifiers contained therein) on or as of the date made or deemed made or (ii)&nbsp;any information contained in any Borrowing Base Certificate is untrue or incorrect in any respect (other
than (A)&nbsp;inadvertent, immaterial errors not exceeding $500,000 in the aggregate in any Borrowing Base Certificate, (B)&nbsp;errors understating the Borrowing Base and (C)&nbsp;errors occurring when Availability continues to exceed $40,000,000
after giving effect to the correction of such errors); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Specific Defaults</U>. Any Credit Party fails to perform or observe any
term, covenant or agreement contained in (i)&nbsp;any of <U>Section</U>&nbsp;<U>4.2(a)</U>, <U>4.2(b)</U>, <U>4.2(d)</U>, <U>4.3(a)</U>, <U>4.6</U>, <U>4.9</U>, <U>4.10</U>, <U>4.11</U> or <U>8.10(b)</U> or<U> Article V</U> or
(ii)&nbsp;<U>Section&nbsp;4.1</U> and, in the case of this <U>clause (ii)</U>, such default shall continue unremedied for a period of five (5)&nbsp;days after the earlier to occur of (x)&nbsp;the date upon which a Responsible Officer of any Credit
Party becomes aware of such failure and (y)&nbsp;the date upon which written notice thereof is given to the Borrower by Agent or the Required Lenders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Other Defaults</U>. Any Credit Party or Restricted Subsidiary of any Credit Party fails to perform or observe any other term, covenant
or agreement contained in this Agreement or any other Loan Document, and such default shall continue unremedied for a period of thirty (30)&nbsp;days after the earlier to occur of (i)&nbsp;the date upon which a Responsible Officer of any Credit
Party becomes aware of such default and (ii)&nbsp;the date upon which written notice thereof is given to the Borrower by Agent or the Required Lenders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U><FONT STYLE="white-space:nowrap">Cross-Default</FONT></U>. Any Credit Party or any Restricted Subsidiary of any Credit Party
(i)&nbsp;fails to make any payment in respect of any (x)&nbsp;any Indebtedness or Contingent Obligation under any Other Debt Document or (y)&nbsp;any Indebtedness (other than the Obligations and Indebtedness under any Other Debt Documents) or
Contingent Obligation (other than the Obligations or Contingent Obligations under any Other Debt Document) having an aggregate </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
principal amount (including undrawn committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than $5,000,000 when
due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure continues after the applicable grace or notice period, if any, specified in the document relating thereto on the date of such failure; or
(ii)&nbsp;fails to perform or observe any other condition or covenant, or any other event shall occur or condition exist, under any agreement or instrument relating to any such Indebtedness or Contingent Obligation (other than Contingent Obligations
owing by one Credit Party with respect to the obligations of another Credit Party permitted hereunder or earnouts permitted hereunder) described in <U>clause (i)</U>&nbsp;above, if the effect of such failure, event or condition is to cause, or to
permit the holder or holders of such Indebtedness or beneficiary or beneficiaries of such Indebtedness (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause such Indebtedness to be declared to be due
and payable prior to its stated maturity (without regard to any subordination terms with respect thereto), or such Contingent Obligation to become payable or cash collateral in respect thereof to be demanded; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Insolvency; Voluntary Proceedings</U>. The Borrower and its Subsidiaries, on a consolidated basis, cease or fail, to be Solvent, or any
Credit Party or any Subsidiary of any Credit Party: (i)&nbsp;generally fails to pay, or admits in writing its inability to pay, its debts as they become due, subject to applicable grace periods, if any, whether at stated maturity or otherwise;
(ii)&nbsp;except as expressly permitted under <U>Section&nbsp;5.3</U>, voluntarily ceases to conduct its business in the ordinary course; (iii)&nbsp;commences any Insolvency Proceeding with respect to itself; or (iv)&nbsp;takes any action to
effectuate or authorize any of the foregoing; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Involuntary Proceedings</U>. (i)&nbsp;Any involuntary Insolvency Proceeding is
commenced or filed against any Credit Party or any Subsidiary of any Credit Party, or any writ, judgment, warrant of attachment, execution or similar process, is issued or levied against any such Person&#146;s Properties with a value in excess of
$5,000,000 individually or in the aggregate and any such proceeding or petition shall not be dismissed, or such writ, judgment, warrant of attachment, execution or similar process shall not be released, vacated or fully bonded within sixty
(60)&nbsp;days after commencement, filing or levy; (ii)&nbsp;any Credit Party or Subsidiary of any Credit Party admits the material allegations of a petition against it in any Insolvency Proceeding, or an order for relief (or similar order under
non-U.S. law) is ordered in any Insolvency Proceeding; or (iii)&nbsp;any Credit Party or any Subsidiary of any Credit Party acquiesces in the appointment of a receiver, trustee, custodian, conservator, liquidator, mortgagee in possession (or agent
therefor), or other similar Person for itself or a substantial portion of its Property or business; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Monetary Judgments</U>. One or
more judgments, non-interlocutory orders, decrees or arbitration awards shall be entered against any one or more of the Credit Parties or any of their respective Restricted Subsidiaries involving in the aggregate a liability of $5,000,000 or more
(excluding amounts covered by insurance to the extent the relevant independent third party insurer has not denied coverage therefor), and the same shall remain unsatisfied, unvacated and unstayed pending appeal for a period of thirty (30)&nbsp;days
after the entry thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U><FONT STYLE="white-space:nowrap">Non-Monetary</FONT> Judgments</U>. One or more non-monetary judgments,
orders or decrees shall be rendered against any one or more of the Credit Parties or any of their respective Restricted Subsidiaries which has or would reasonably be expected to have, either individually or in the aggregate, a Material Adverse
Effect, and there shall be any period of ten (10)&nbsp;consecutive days during which a stay of enforcement of such judgment or order, by reason of a pending appeal or otherwise, shall not be in effect; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Collateral</U>. Any material provision of any Loan Document shall for any reason cease to
be valid and binding on or enforceable against any Credit Party or any Restricted Subsidiary of any Credit Party party thereto or any Credit Party or any Restricted Subsidiary of any Credit Party shall so state in writing or bring an action to limit
its obligations or liabilities thereunder; or any Collateral Document shall for any reason (other than pursuant to the terms thereof) cease to create a valid security interest in the Collateral purported to be covered thereby or such security
interest shall for any reason (other than the failure of Agent to take any action within its control where Agent had received express written notice in a timely manner of the facts and circumstances necessitating such action) cease to be a perfected
and first priority security interest subject only to Permitted Liens; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Ownership</U>. (i)&nbsp;The Permitted Investors at any time
fail to own beneficially, directly or indirectly, at least fifty-one percent (51%)&nbsp;of each class of issued and outstanding voting Stock of Holdings or, in any event, Stock representing voting control of Holdings; (iii)&nbsp;Holdings ceases to
own one hundred percent (100%)&nbsp;of the issued and outstanding Stock and Stock Equivalents of the Borrower, in each instance in <U>clauses</U> <U>(i)</U>&nbsp;and <U>(ii)</U>, free and clear of all Liens, rights, options, warrants or other
similar agreements or understandings, other than Liens in favor of Agent, for the benefit of the Secured Parties and Liens permitted under <U>Section&nbsp;5.1(p)</U>; or (iv)&nbsp;&#147;Change of Control&#148; (as defined any Other Debt Document)
shall occur; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Invalidity of Subordination Provisions</U>. The provisions of the Intercreditor Agreement or any agreement or
instrument governing any Subordinated Indebtedness shall for any reason be revoked or invalidated, or otherwise cease to be in full force and effect, or any Person shall contest in any manner the validity or enforceability thereof or deny that it
has any further liability or obligation thereunder, or the Obligations, for any reason shall not have the priority contemplated by this Agreement, the Intercreditor Agreement or such agreement or instrument governing any Subordinated Indebtedness;
or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>Material Contracts</U>. Any default or breach by the Borrower occurs and is continuing under any Material Contract or any
Material Contract shall be terminated for any reason. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.2 <U>Remedies</U>. Upon the occurrence and during the continuance of any Event of
Default, Agent may, and shall at the request of the Required Lenders: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) declare all or any portion of the Revolving Loan Commitment of
each Lender to make Loans or of the L/C Issuer to Issue Letters of Credit to be suspended or terminated, whereupon all or such portion of such Revolving Loan Commitment shall forthwith be suspended or terminated; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) declare all or any portion of the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other
amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable; without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by each Credit Party; and/or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) exercise on behalf of itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents or
applicable law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">provided, however, that upon the occurrence of any event specified in <U>Section&nbsp;6.1(f)</U> or <U>6.1(g)</U> above (in the case of
<U>clause (i)</U>&nbsp;of <U>Section&nbsp;6.1(g)</U> upon the expiration of the sixty (60)&nbsp;day period </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
mentioned therein), the obligation of each Lender to make Loans and the obligation of the L/C Issuer to Issue Letters of Credit shall automatically terminate and the unpaid principal amount of
all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable without further act of Agent, any Lender or the L/C Issuer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.3 <U>Rights Not Exclusive</U>. The rights provided for in this Agreement and the other Loan Documents are cumulative and are not exclusive
of any other rights, powers, privileges or remedies provided by law or in equity, or under any other instrument, document or agreement now existing or hereafter arising. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.4 <U>Cash Collateral for Letters of Credit</U>. If an Event of Default has occurred and is continuing, this Agreement (or the Revolving Loan
Commitment) shall be terminated for any reason or if otherwise required by the terms hereof, Agent may, and upon request of Required Lenders, shall, demand (which demand shall be deemed to have been delivered automatically upon any acceleration of
the Loans and other obligations hereunder pursuant to <U>Section&nbsp;6.2</U>), and the Borrower shall thereupon deliver to Agent, to be held for the benefit of the L/C Issuer, Agent and the Lenders entitled thereto, an amount of cash equal to 105%
of the amount of L/C Reimbursement Obligations as additional collateral security for Obligations. Agent may at any time apply any or all of such cash and cash collateral to the payment of any or all of the Credit Parties&#146; Obligations. The
remaining balance of the cash collateral will be returned to the Borrower when all Letters of Credit have been terminated or discharged, all Revolving Loan Commitments have been terminated and all Obligations have been paid in full in cash. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VII. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>THE AGENT
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.1 <U>Appointment and Duties</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Appointment of Agent</U>. Each Lender and each L/C Issuer hereby appoints GE Capital (together with any successor Agent pursuant to
<U>Section&nbsp;7.9</U>) as Agent hereunder and authorizes Agent to (i)&nbsp;execute and deliver the Loan Documents and accept delivery thereof on its behalf from any Credit Party, (ii)&nbsp;take such action on its behalf and to exercise all rights,
powers and remedies and perform the duties as are expressly delegated to Agent under such Loan Documents and (iii)&nbsp;exercise such powers as are incidental thereto. Without limiting the generality of the foregoing, each Lender acknowledges that
it has received a copy of the Intercreditor Agreement, consents to and authorizes Agent&#146;s execution and delivery thereof on behalf of such Lender and agrees to be bound by the terms and provisions thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Duties as Collateral and Disbursing Agent</U>. Without limiting the generality of <U>clause (a)</U>&nbsp;above, Agent shall have the
sole and exclusive right and authority (to the exclusion of the Lenders and L/C Issuers), and is hereby authorized, to (i)&nbsp;act as the disbursing and collecting agent for the Lenders and the L/C Issuers with respect to all payments and
collections arising in connection with the Loan Documents (including in any proceeding described in <U>Section&nbsp;6.1(f)</U> or <U>(g)</U>&nbsp;or any other bankruptcy, insolvency or similar proceeding), and each Person making any payment in
connection with any Loan Document to any Secured Party is hereby authorized to make such payment to Agent, (ii)&nbsp;file and prove claims and file other documents necessary or desirable to allow the claims of the Secured Parties with respect to any
Obligation in any proceeding described in <U>Section&nbsp;6.1(f)</U> or <U>(g)</U>&nbsp;or any other bankruptcy, insolvency or similar proceeding (but not to vote, consent or otherwise act on behalf of such Person), (iii)&nbsp;act as collateral
agent for each Secured Party for purposes of the perfection of all Liens created by such agreements and all other purposes stated therein, (iv)&nbsp;manage, supervise </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and otherwise deal with the Collateral, (v)&nbsp;take such other action as is necessary or desirable to maintain the perfection and priority of the Liens created or purported to be created by the
Loan Documents, (vi)&nbsp;except as may be otherwise specified in any Loan Document, exercise all remedies given to Agent and the other Secured Parties with respect to the Collateral, whether under the Loan Documents, applicable Requirements of Law
or otherwise and (vii)&nbsp;execute any amendment, consent or waiver under the Loan Documents on behalf of any Lender that has consented in writing to such amendment, consent or waiver; provided, however, that Agent hereby appoints, authorizes and
directs each Lender and L/C Issuer to act as collateral sub-agent for Agent, the Lenders and the L/C Issuers for purposes of the perfection of Liens with respect to any deposit account maintained by a Credit Party with, and cash and Cash Equivalents
held by, such Lender or L/C Issuer, and may further authorize and direct the Lenders and the L/C Issuers to take further actions as collateral sub-agents for purposes of enforcing such Liens or otherwise to transfer the Collateral subject thereto to
Agent, and each Lender and L/C Issuer hereby agrees to take such further actions to the extent, and only to the extent, so authorized and directed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Limited Duties</U>. Under the Loan Documents, Agent (i)&nbsp;is acting solely on behalf of the Secured Parties (except to the limited
extent provided in <U>Section&nbsp;1.4(b)</U> with respect to the Register), with duties that are entirely administrative in nature, notwithstanding the use of the defined term &#147;Agent&#148;, the terms &#147;agent&#148;, &#147;Agent&#148; and
&#147;collateral agent&#148; and similar terms in any Loan Document to refer to Agent, which terms are used for title purposes only, (ii)&nbsp;is not assuming any obligation under any Loan Document other than as expressly set forth therein or any
role as agent, fiduciary or trustee of or for any Lender, L/C Issuer or any other Person and (iii)&nbsp;shall have no implied functions, responsibilities, duties, obligations or other liabilities under any Loan Document, and each Secured Party, by
accepting the benefits of the Loan Documents, hereby waives and agrees not to assert any claim against Agent based on the roles, duties and legal relationships expressly disclaimed in <U>clauses (i)</U>&nbsp;through <U>(iii)</U>&nbsp;above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.2 <U>Binding Effect</U>. Each Secured Party, by accepting the benefits of the Loan Documents, agrees that (i)&nbsp;any action taken by Agent
or the Required Lenders (or, if expressly required hereby, a greater proportion of the Lenders) in accordance with the provisions of the Loan Documents, (ii)&nbsp;any action taken by Agent in reliance upon the instructions of Required Lenders (or,
where so required, such greater proportion) and (iii)&nbsp;the exercise by Agent or the Required Lenders (or, where so required, such greater proportion) of the powers set forth herein or therein, together with such other powers as are incidental
thereto, shall be authorized and binding upon all of the Secured Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.3 <U>Use of Discretion</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and
powers expressly contemplated hereby or by the other Loan Documents that Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in
the other Loan Documents); provided, that Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose Agent to liability or that is contrary to any Loan Document or applicable Requirement of Law.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Agent shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be
liable for the failure to disclose, any information relating to any Credit Party or its Affiliates that is communicated to or obtained by Agent or any of its Affiliates in any capacity. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding anything to the contrary contained herein or in any other Loan Document, the
authority to enforce rights and remedies hereunder and under the other Loan Documents against the Credit Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with such enforcement shall be
instituted and maintained exclusively by, Agent in accordance with the Loan Documents for the benefit of all the Lenders and the L/C Issuer; provided that the foregoing shall not prohibit (i)&nbsp;Agent from exercising on its own behalf the rights
and remedies that inure to its benefit (solely in its capacity as Agent) hereunder and under the other Loan Documents, (ii)&nbsp;each of the L/C Issuer and the Swingline Lender from exercising the rights and remedies that inure to its benefit
(solely in its capacity as L/C Issuer or Swingline Lender, as the case may be) hereunder and under the other Loan Documents, (iii)&nbsp;any Lender from exercising setoff rights in accordance with <U>Section&nbsp;8.11</U> or (iv)&nbsp;any Lender from
filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative to any Credit Party under any bankruptcy or other debtor relief law; and provided further that if at any time there is no Person
acting as Agent hereunder and under the other Loan Documents, then (A)&nbsp;the Required Lenders shall have the rights otherwise ascribed to Agent pursuant to <U>Section&nbsp;6.2</U> and (B)&nbsp;in addition to the matters set forth in <U>clauses
(ii)</U>, <U>(iii)</U>&nbsp;and <U>(iv)</U>&nbsp;of the preceding proviso and subject to <U>Section&nbsp;8.11</U>, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized by the
Required Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.4 <U>Delegation of Rights and Duties</U>. Agent may, upon any term or condition it specifies, delegate or exercise
any of its rights, powers and remedies under, and delegate or perform any of its duties or any other action with respect to, any Loan Document by or through any trustee, co-agent, employee, attorney-in-fact and any other Person (including any
Secured Party). Any such Person shall benefit from this <U>Article VII</U> to the extent provided by Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.5 <U>Reliance and
Liability</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Agent may, without incurring any liability hereunder, (i)&nbsp;treat the payee of any Note as its holder until such
Note has been assigned in accordance with <U>Section&nbsp;8.9</U>, (ii)&nbsp;rely on the Register to the extent set forth in <U>Section&nbsp;1.4</U>, (iii)&nbsp;consult with any of its Related Persons and, whether or not selected by it, any other
advisors, accountants and other experts (including advisors to, and accountants and experts engaged by, any Credit Party) and (iv)&nbsp;rely and act upon any document and information (including those transmitted by Electronic Transmission) and any
telephone message or conversation, in each case believed by it to be genuine and transmitted, signed or otherwise authenticated by the appropriate parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) None of Agent and its Related Persons shall be liable for any action taken or omitted to be taken by any of them under or in connection
with any Loan Document, and each Secured Party, Holdings, the Borrower and each other Credit Party hereby waive and shall not assert (and each of Holdings and the Borrower shall cause each other Credit Party to waive and agree not to assert) any
right, claim or cause of action based thereon, except to the extent of liabilities resulting primarily from the gross negligence or willful misconduct of Agent or, as the case may be, such Related Person (each as determined in a final,
non-appealable judgment by a court of competent jurisdiction) in connection with the duties expressly set forth herein. Without limiting the foregoing, Agent: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) shall not be responsible or otherwise incur liability for any action or omission taken in reliance upon the instructions of the Required
Lenders or for the actions or omissions of any of its Related Persons selected with reasonable care (other than employees, officers and directors of Agent, when acting on behalf of Agent); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) shall not be responsible to any Lender, L/C Issuer or other Person for the due execution,
legality, validity, enforceability, effectiveness, genuineness, sufficiency or value of, or the attachment, perfection or priority of any Lien created or purported to be created under or in connection with, any Loan Document; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) makes no warranty or representation, and shall not be responsible, to any Lender, L/C Issuer or other Person for any statement,
document, information, representation or warranty made or furnished by or on behalf of any Credit Party or any Related Person of any Credit Party in connection with any Loan Document or any transaction contemplated therein or any other document or
information with respect to any Credit Party, whether or not transmitted or (except for documents expressly required under any Loan Document to be transmitted to the Lenders) omitted to be transmitted by Agent, including as to completeness,
accuracy, scope or adequacy thereof, or for the scope, nature or results of any due diligence performed by Agent in connection with the Loan Documents; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) shall not have any duty to ascertain or to inquire as to the performance or observance of any provision of any Loan Document, whether
any condition set forth in any Loan Document is satisfied or waived, as to the financial condition of any Credit Party or as to the existence or continuation or possible occurrence or continuation of any Default or Event of Default and shall not be
deemed to have notice or knowledge of such occurrence or continuation unless it has received a notice from the Borrower, any Lender or L/C Issuer describing such Default or Event of Default clearly labeled &#147;notice of default&#148; (in which
case Agent shall promptly give notice of such receipt to all Lenders); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">and, for each of the items set forth in <U>clauses (i)</U>&nbsp;through
<U>(iv)</U>&nbsp;above, each Lender, L/C Issuer, Holdings, the Borrower and each other Credit Party hereby waives and agrees not to assert any right, claim or cause of action it might have against Agent based thereon. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Each Lender and L/C Issuer (i)&nbsp;acknowledges that it has performed and will continue to perform its own diligence and has made and
will continue to make its own independent investigation of the operations, financial conditions and affairs of the Credit Parties and (ii)&nbsp;agrees that is shall not rely on any audit or other report provided by Agent or its Related Persons
(each, an &#147;<U>Agent Report</U>&#148;). Each Lender and L/C Issuer further acknowledges that any Agent Report (i)&nbsp;is provided to the Lenders and L/C Issuers solely as a courtesy, without consideration, and based upon the understanding that
such Lender or L/C Issuer will not rely on such Agent Report, (ii)&nbsp;was prepared by Agent or its Related Persons based upon information provided by the Credit Parties solely for Agent&#146;s own internal use, (iii)&nbsp;may not be complete and
may not reflect all information and findings obtained by Agent or its Related Persons regarding the operations and condition of the Credit Parties. Neither Agent nor any of its Related Persons makes any representations or warranties of any kind with
respect to (i)&nbsp;any existing or proposed financing, (ii)&nbsp;the accuracy or completeness of the information contained in any Agent Report or in any related documentation, (iii)&nbsp;the scope or adequacy of Agent&#146;s and its Related
Persons&#146; due diligence, or the presence or absence of any errors or omissions contained in any Agent Report or in any related documentation, and (iv)&nbsp;any work performed by Agent or Agent&#146;s Related Persons in connection with or using
any Agent Report or any related documentation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Neither Agent nor any of its Related Persons shall have any duties or obligations in
connection with or as a result of any Lender or L/C Issuer receiving a copy of any Agent Report. Without limiting the generality of the forgoing, neither Agent nor any of its Related Persons shall have any responsibility for the accuracy or
completeness of any Agent Report, or the appropriateness of any Agent Report for any Lender&#146;s or L/C Issuer&#146;s purposes, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and shall have no duty or responsibility to correct or update any Agent Report or disclose to any Lender or L/C Issuer any other information not embodied in any Agent Report, including any
supplemental information obtained after the date of any Agent Report. Each Lender and L/C Issuer releases, and agrees that it will not assert, any claim against Agent or its Related Persons that in any way relates to any Agent Report or arises out
of any Lender or L/C Issuer having access to any Agent Report or any discussion of its contents, and agrees to indemnify and hold harmless Agent and its Related Persons from all claims, liabilities and expenses relating to a breach by any Lender or
L/C Issuer arising out of such Lender&#146;s or L/C Issuer&#146;s access to any Agent Report or any discussion of its contents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.6
<U>Agent Individually</U>. Agent and its Affiliates may make loans and other extensions of credit to, acquire Stock and Stock Equivalents of, engage in any kind of business with, any Credit Party or Affiliate thereof as though it were not acting as
Agent and may receive separate fees and other payments therefor. To the extent Agent or any of its Affiliates makes any Loan or otherwise becomes a Lender hereunder, it shall have and may exercise the same rights and powers hereunder and shall be
subject to the same obligations and liabilities as any other Lender and the terms &#147;Lender&#148;, &#147;Required Lender&#148;, &#147;Supermajority Lenders&#148; and any similar terms shall, except where otherwise expressly provided in any Loan
Document, include, without limitation, Agent or such Affiliate, as the case may be, in its individual capacity as Lender, as one of the Required Lenders or as one of the Supermajority Lenders, respectively. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.7 <U>Lender Credit Decision</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Lender and each L/C Issuer acknowledges that it shall, independently and without reliance upon Agent, any Lender or L/C Issuer or any
of their Related Persons or upon any document (including any offering and disclosure materials in connection with the syndication of the Loans) solely or in part because such document was transmitted by Agent or any of its Related Persons, conduct
its own independent investigation of the financial condition and affairs of each Credit Party and make and continue to make its own credit decisions in connection with entering into, and taking or not taking any action under, any Loan Document or
with respect to any transaction contemplated in any Loan Document, in each case based on such documents and information as it shall deem appropriate. Except for documents expressly required by any Loan Document to be transmitted by Agent to the
Lenders or L/C Issuers, Agent shall not have any duty or responsibility to provide any Lender or L/C Issuer with any credit or other information concerning the business, prospects, operations, Property, financial and other condition or
creditworthiness of any Credit Party or any Affiliate of any Credit Party that may come in to the possession of Agent or any of its Related Persons. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If any Lender or L/C Issuer has elected to abstain from receiving MNPI concerning the Credit Parties or their Affiliates, such Lender or
L/C Issuer acknowledges that, notwithstanding such election, Agent and/or the Credit Parties will, from time to time, make available syndicate-information (which may contain MNPI) as required by the terms of, or in the course of administering the
Loans to the credit contact(s) identified for receipt of such information on the Lender&#146;s administrative questionnaire who are able to receive and use all syndicate-level information (which may contain MNPI) in accordance with such
Lender&#146;s compliance policies and contractual obligations and applicable law, including federal and state securities laws; provided, that if such contact is not so identified in such questionnaire, the relevant Lender or L/C Issuer hereby agrees
to promptly (and in any event within one (1)&nbsp;Business Day) provide such a contact to Agent and the Credit Parties upon request therefor by Agent or the Credit Parties. Notwithstanding such Lender&#146;s or L/C Issuer&#146;s election to abstain
from receiving MNPI, such Lender or L/C Issuer acknowledges that if such Lender or L/C Issuer chooses to communicate with Agent, it assumes the risk of receiving MNPI concerning the Credit Parties or their Affiliates. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.8 <U>Expenses; Indemnities; Withholding</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Lender agrees to reimburse Agent and each of its Related Persons (to the extent not reimbursed by any Credit Party) promptly upon
demand, severally and ratably, for any costs and expenses (including fees, charges and disbursements of financial, legal and other advisors and Other Taxes paid in the name of, or on behalf of, any Credit Party) that may be incurred by Agent or any
of its Related Persons in connection with the preparation, syndication, execution, delivery, administration, modification, consent, waiver or enforcement of, or the taking of any other action (whether through negotiations, through any work-out,
bankruptcy, restructuring or other legal or other proceeding (including, without limitation, preparation for and/or response to any subpoena or request for document production relating thereto) or otherwise) in respect of, or legal advice with
respect to its rights or responsibilities under, any Loan Document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each Lender further agrees to indemnify Agent, each L/C Issuer
and Related Persons (to the extent not reimbursed by any Credit Party), severally and ratably, from and against Liabilities (including, to the extent not indemnified pursuant to <U>Section&nbsp;7.8(c)</U>, Taxes, interests and penalties imposed for
not properly withholding or backup withholding on payments made to or for the account of any Lender) that may be imposed on, incurred by or asserted against Agent, any L/C Issuer or any of their respective Related Persons in any matter relating to
or arising out of, in connection with or as a result of any Loan Document, any Other Debt Document or any other act, event or transaction related, contemplated in or attendant to any such document, or, in each case, any action taken or omitted to be
taken by Agent, any L/C Issuer or any of their respective Related Persons under or with respect to any of the foregoing; <U>provided</U>, <U>however</U>, that Lenders shall be liable and indemnify Agent and its Related Persons only for Liabilities
incurred by the Agent while acting as or for Agent in its capacity as such; <U>provided</U> <U>further</U>, that no Lender shall be liable to Agent, any L/C Issuer or any of their respective Related Persons to the extent such liability has resulted
primarily from the gross negligence or willful misconduct of such Person, as determined by a court of competent jurisdiction in a final non-appealable judgment or order. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) To the extent required by any Requirement of Law, Agent may withhold from any payment to any Lender under a Loan Document an amount equal
to any applicable withholding Tax (including withholding Taxes imposed under Chapters 3 and 4 of Subtitle A of the Code). If the IRS or any other Governmental Authority asserts a claim that Agent did not properly withhold Tax from amounts paid to or
for the account of any Lender (because the appropriate certification form was not delivered, was not properly executed, or fails to establish an exemption from, or reduction of, withholding Tax with respect to a particular type of payment, or
because such Lender failed to notify Agent or any other Person of a change in circumstances which rendered the exemption from, or reduction of, withholding Tax ineffective, failed to maintain a Participant Register or for any other reason), or Agent
reasonably determines that it was required to withhold Taxes from a prior payment but failed to do so, such Lender shall promptly indemnify Agent fully for all amounts paid, directly or indirectly, by Agent as Tax or otherwise, including penalties
and interest, and together with all expenses incurred by Agent, including legal expenses, allocated internal costs and out-of-pocket expenses. Agent may offset against any payment to any Lender under a Loan Document, any applicable withholding Tax
that was required to be withheld from any prior payment to such Lender but which was not so withheld, as well as any other amounts for which Agent is entitled to indemnification from such Lender under this <U>Section&nbsp;7.8(c)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.9 <U>Resignation of Agent or L/C Issuer</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Agent may resign at any time by delivering notice of such resignation to the Lenders and the Borrower, effective on the date set forth in
such notice or, if no such date is set forth therein, upon the date such notice shall be effective in accordance with the terms of this <U>Section&nbsp;7.9</U>. If Agent delivers any such notice, the Required Lenders shall have the right to appoint
a successor Agent. If, after 30 days after the date of retiring Agent&#146;s notice of resignation, no successor Agent has been appointed by the Required Lenders that has accepted such appointment, then the retiring Agent may, on behalf of the
Lenders, appoint a successor Agent from among the Lenders. Each appointment under this <U>clause (a)</U>&nbsp;shall be subject to the prior consent of the Borrower, which may not be unreasonably withheld but shall not be required during the
continuance of an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Effective immediately upon its resignation, (i)&nbsp;the retiring Agent shall be discharged from
its duties and obligations under the Loan Documents, (ii)&nbsp;the Lenders shall assume and perform all of the duties of Agent until a successor Agent shall have accepted a valid appointment hereunder, (iii)&nbsp;the retiring Agent and its Related
Persons shall no longer have the benefit of any provision of any Loan Document other than with respect to any actions taken or omitted to be taken while such retiring Agent was, or because such Agent had been, validly acting as Agent under the Loan
Documents and (iv)&nbsp;subject to its rights under <U>Section&nbsp;7.3</U>, the retiring Agent shall take such action as may be reasonably necessary to assign to the successor Agent its rights as Agent under the Loan Documents. Effective
immediately upon its acceptance of a valid appointment as Agent, a successor Agent shall succeed to, and become vested with, all the rights, powers, privileges and duties of the retiring Agent under the Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Any L/C Issuer may refuse to Issue a Letter of Credit in its sole discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.10 <U>Release of Collateral or Guarantors</U>. Each Lender and L/C Issuer hereby consents to the release and hereby directs Agent to release
(or, in the case of <U>clause (b)(ii)</U> below, release or subordinate) the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any Subsidiary of the Borrower from its
guaranty of any Obligation if all of the Stock and Stock Equivalents of such Subsidiary owned by any Credit Party are sold or transferred in a transaction permitted under the Loan Documents (including pursuant to a waiver or consent); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) any Lien held by Agent for the benefit of the Secured Parties against (i)&nbsp;any Collateral that is sold, transferred, conveyed or
otherwise disposed of by a Credit Party in a transaction permitted by the Loan Documents (including pursuant to a waiver or consent), (ii)&nbsp;any Property subject to a Lien permitted hereunder in reliance upon <U>Section&nbsp;5.1(h)</U> or
<U>5.1(i)</U> and (iii)&nbsp;all of the Collateral and all Credit Parties, upon the occurrence of the Facility Termination Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each Lender and L/C
Issuer hereby directs Agent, and Agent hereby agrees, upon receipt of at least five (5)&nbsp;Business Days&#146; advance notice from the Borrower, to execute and deliver or file such documents and to perform other actions reasonably necessary to
release the guaranties and Liens when and as directed in this <U>Section&nbsp;7.10</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.11 <U>Additional Secured Parties</U>. The benefit of the provisions of the Loan Documents
directly relating to the Collateral or any Lien granted thereunder shall extend to and be available to any Secured Party that is not a Lender or L/C Issuer party hereto as long as, by accepting such benefits, such Secured Party agrees, as among
Agent and all other Secured Parties, that such Secured Party is bound by (and, if requested by Agent, shall confirm such agreement in a writing in form and substance acceptable to Agent) this <U>Article VII</U> and <U>Sections 8.3</U>, <U>8.9</U>,
<U>8.10</U>, <U>8.11</U>, <U>8.17</U>, <U>8.24</U> and <U>9.1</U> (and, solely with respect to L/C Issuers, <U>Section&nbsp;1.1(b)</U>) and the decisions and actions of Agent and the Required Lenders (or, where expressly required by the terms of
this Agreement, a greater proportion of the Lenders or other parties hereto as required herein) to the same extent a Lender is bound; provided, however, that, notwithstanding the foregoing, (a)&nbsp;such Secured Party shall be bound by
<U>Section&nbsp;7.8</U> only to the extent of Liabilities, costs and expenses with respect to or otherwise relating to the Collateral held for the benefit of such Secured Party, in which case the obligations of such Secured Party thereunder shall
not be limited by any concept of pro rata share or similar concept, (b)&nbsp;each of Agent, the Lenders and the L/C Issuers party hereto shall be entitled to act at its sole discretion, without regard to the interest of such Secured Party,
regardless of whether any Obligation to such Secured Party thereafter remains outstanding, is deprived of the benefit of the Collateral, becomes unsecured or is otherwise affected or put in jeopardy thereby, and without any duty or liability to such
Secured Party or any such Obligation and (c)&nbsp;except as otherwise set forth herein, such Secured Party shall not have any right to be notified of, consent to, direct, require or be heard with respect to, any action taken or omitted in respect of
the Collateral or under any Loan Document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.12 <U>Syndication Agent</U>. Notwithstanding any provision to the contrary contained
elsewhere in this Agreement or in any other Loan Document, the Syndication Agent shall not have any duties or responsibilities, nor shall the Syndication Agent have or be deemed to have any fiduciary relationship with any Lender, and no implied
covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Syndication Agent. At any time that any Lender serving (or whose Affiliate is
serving) as Syndication Agent shall have transferred to any other Person (other than any Affiliates) all of its interests in the Loans and the Revolving Loan Commitment of such, such Lender (or an Affiliate of such Lender acting as Syndication
Agent) shall be deemed to have concurrently resigned as such Syndication Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE VIII. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MISCELLANEOUS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.1
<U>Amendments and Waivers</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Subject to the provisions of <U>Section&nbsp;8.1(f)</U>, no amendment or waiver of any provision of
this Agreement or any other Loan Document, and no consent with respect to any departure by any Credit Party therefrom, shall be effective unless the same shall be in writing and signed by Agent, the Required Lenders (or by Agent with the consent of
the Required Lenders), and the Borrower, and then such waiver shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such waiver, amendment, or consent shall, unless in writing and
signed by all the Lenders directly affected thereby (or by Agent with the consent of all the Lenders directly affected thereby), in addition to Agent and the Required Lenders (or by Agent with the consent of the Required Lenders) and the Borrower,
do any of the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) increase or extend the Revolving Loan Commitment of any Lender (or reinstate any Revolving Loan Commitment
terminated pursuant to <U>Section&nbsp;6.2(a)</U>); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) postpone or delay any date fixed for, or reduce or waive, any scheduled installment of
principal or any payment of interest, fees or other amounts (other than principal) due to the Lenders (or any of them) or L/C Issuer hereunder or under any other Loan Document; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) reduce the principal of, or the rate of interest specified herein or the amount of interest payable in cash specified herein on any
Loan, or of any fees or other amounts payable hereunder or under any other Loan Document, including L/C Reimbursement Obligations; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv)
amend or modify <U>Section&nbsp;1.9(c)</U>; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) change the percentage of the Revolving Loan Commitment or of the aggregate unpaid
principal amount of the Loans which shall be required for the Lenders or any of them to take any action hereunder; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi) amend this
<U>Section&nbsp;8.1</U> (other than <U>Section&nbsp;8.1(c)</U>) or, subject to the terms of this Agreement, the definition of Required Lenders, the definition of Supermajority Lenders or any provision providing for consent or other action by all
Lenders; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vii) discharge any Credit Party from its respective payment Obligations under the Loan Documents (other than in connection
with a Permitted Disposition), or release all or substantially all of the Collateral, except as otherwise may be provided in this Agreement or the other Loan Documents; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(viii) add any new tranche of commitments hereunder; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">it being agreed that all Lenders shall be deemed to be directly affected by an amendment or waiver of the type described in the preceding <U>clauses (v)</U>,
<U>(vi)</U>, <U>(vii)</U>&nbsp;and <U>(viii)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) No amendment, waiver or consent shall, unless in writing and signed by Agent, the
Swingline Lender or the L/C Issuer, as the case may be, in addition to the Required Lenders, Supermajority Lenders or all Lenders directly affected thereby, as the case may be (or by Agent with the consent of the Required Lenders, Supermajority
Lenders or all the Lenders directly affected thereby, as the case may be), affect the rights or duties of Agent, the Swingline Lender or the L/C Issuer, as applicable, under this Agreement or any other Loan Document. No amendment, modification or
waiver of this Agreement or any Loan Document altering the ratable treatment of Obligations arising under Secured Rate Contracts resulting in such Obligations being junior in right of payment to principal on the Loans or resulting in Obligations
owing to any Secured Swap Provider becoming unsecured (other than releases of Liens permitted in accordance with the terms hereof), in each case in a manner adverse to any Secured Swap Provider, shall be effective without the written consent of such
Secured Swap Provider or, in the case of a Secured Rate Contract provided or arranged by GE Capital or an Affiliate of GE Capital, GE Capital. No amendment, modification or waiver of this Agreement or any Loan Document resulting in Bank Product
Obligations owing to any Lender or its Affiliate becoming unsecured (other than releases of Liens permitted in accordance with the terms hereof) shall be effective without the written consent of such Lender or Affiliate or, in the case of a Secured
Bank Product provided or arranged by GE Capital or an Affiliate of GE Capital, GE Capital. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) No amendment or waiver shall, unless
signed by Agent and all Lenders (or by Agent with the consent of all Lenders): (i)&nbsp;amend or waive compliance with the conditions </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
precedent to the obligations of Lenders to make any Revolving Loan (or of L/C Issuer to Issue any Letter of Credit) in <U>Section&nbsp;2.2</U>; (ii)&nbsp;amend or waive non-compliance with any
provision of <U>Section&nbsp;1.1(a)(iii)</U>; or (iii)&nbsp;waive any Default or Event of Default for the purpose of satisfying the conditions precedent to the obligations of Lenders to make any Revolving Loan (or of any L/C Issuer to Issue any
Letter of Credit) in <U>Section&nbsp;2.2</U>. No amendment or waiver shall, unless signed by Agent and all Lenders (or by Agent with the consent of all Lenders), (x)&nbsp;amend or waive this <U>Section&nbsp;8.1(c)</U> or the definitions of the terms
used in this <U>Section&nbsp;8.1(c)</U> insofar as the definitions affect the substance of this <U>Section&nbsp;8.1(c)</U>; or (y)&nbsp;change the definition of (i)&nbsp;the term Required Lenders or Supermajority Lenders, (ii)&nbsp;the percentage of
Lenders which shall be required for Lenders to take any action hereunder or (iii)&nbsp;change any specific right of Required Lenders or Supermajority Lenders to grant or withhold consent or take or omit to take any action hereunder. No amendment or
waiver shall, unless signed by Agent and the Supermajority Lenders (or by Agent with the consent of the Supermajority Lenders), amend or modify the definitions of Eligible Accounts, Eligible Inventory or Borrowing Base, including any increase in the
percentage advance rates in the definition of Borrowing Base, in a manner which would increase the availability of credit under the Revolving Loan. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding anything set forth herein to the contrary, a Non-Funding Lender shall not have any voting or consent rights
under or with respect to any Loan Document or constitute a &#147;Lender&#148; (or be, or have its Loans and Revolving Loan Commitment, included in the determination of &#147;Required Lenders&#148;, &#147;Supermajority Lenders&#148; or &#147;Lenders
directly affected&#148; pursuant to this <U>Section&nbsp;8.1</U>) for any voting or consent rights under or with respect to any Loan Document, except that a Non-Funding Lender shall be treated as an &#147;affected Lender&#148; for purposes of
<U>Section&nbsp;8.1(a)(i)</U> and <U>8.1(a)(iii)</U> solely with respect to an increase in such Non-Funding Lender&#146;s Revolving Loan Commitment, a reduction of the principal amount owed to such Non-Funding Lender or, unless such Non-Funding
Lender is treated the same as the other Lenders holding Loans of the same type, a reduction in the interest rates applicable to the Loans held by such Non-Funding Lender. Moreover, for the purposes of determining Required Lenders, Supermajority
Lenders, the Loans and Revolving Loan Commitment held by Non-Funding Lenders shall be excluded from the total Loans and Revolving Loan Commitment outstanding. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Notwithstanding anything to the contrary contained in this <U>Section&nbsp;9.1</U>, (i)&nbsp;the Borrower may amend <U>Schedules 3.18</U>
and <U>3.20</U> upon notice to Agent, (ii)&nbsp;Agent may amend <U>Schedule 1.1</U> to reflect Incremental Revolving Loan Commitments and Sales entered into pursuant to <U>Section&nbsp;8.9</U>, and (iii)&nbsp;Agent and the Borrower may amend or
modify this Agreement and any other Loan Document to (1)&nbsp;cure any ambiguity, omission, defect or inconsistency therein, (2)&nbsp;grant a new Lien for the benefit of the Secured Parties, extend an existing Lien over additional Property for the
benefit of the Secured Parties or join additional Persons as Credit Parties, and (3)&nbsp;extend Incremental Revolving Loan Commitments to this Agreement pursuant to <U>Section&nbsp;1.1(c)</U> and to permit the extensions of credit from time to time
outstanding thereunder and the accrued interest and fees in respect thereof to share ratably in the benefits of this Agreement and the other Loan Documents with the Revolving Loans and the accrued interest and fees in respect thereof and to include
appropriately the Lenders holding such credit facilities in any determination of the Required Lenders or Supermajority Lenders; <U>provided</U> that no Accounts or Inventory of such Person shall be included as Eligible Accounts or Eligible Inventory
until a field examination (and, if required by Agent, an Inventory appraisal) with respect thereto has been completed to the satisfaction of Agent, including the establishment of Reserves required in Agent&#146;s Permitted Discretion. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.2 <U>Notices</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Addresses</U>. All notices and other communications required or expressly authorized to be made by this Agreement shall be given in
writing, unless otherwise expressly specified herein, and (i)&nbsp;addressed to the address set forth on the applicable signature page hereto, (ii)&nbsp;posted to SyndTrak&reg; (to the extent such system is available and set up by or at the
direction of Agent prior to posting) in an appropriate location by uploading such notice, demand, request, direction or other communication to www.syndtrak.com or using such other means of posting to SyndTrak&reg; as may be available and reasonably
acceptable to Agent prior to such posting, (iii)&nbsp;posted to any other E-System approved by or set up by or at the direction of Agent or (iv)&nbsp;addressed to such other address as shall be notified in writing (A)&nbsp;in the case of the
Borrower, Agent and the Swingline Lender, to the other parties hereto and (B)&nbsp;in the case of all other parties, to the Borrower and Agent. Transmissions made by electronic mail or E-Fax to Agent shall be effective only (x)&nbsp;for notices
where such transmission is specifically authorized by this Agreement, (y)&nbsp;if such transmission is delivered in compliance with procedures of Agent applicable at the time and previously communicated to the Borrower, and (z)&nbsp;if receipt of
such transmission is acknowledged by Agent. <B></B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Effectiveness</U>. (i)&nbsp;All communications described in <U>clause
(a)</U>&nbsp;above and all other notices, demands, requests and other communications made in connection with this Agreement shall be effective and be deemed to have been received (i)&nbsp;if delivered by hand, upon personal delivery, (ii)&nbsp;if
delivered by overnight courier service, one (1)&nbsp;Business Day after delivery to such courier service, (iii)&nbsp;if delivered by mail, three (3)&nbsp;Business Days after deposit in the mail, (iv)&nbsp;if delivered by facsimile (other than to
post to an E-System pursuant to <U>clause (a)(ii)</U> or <U>(a)(iii)</U> above), upon sender&#146;s receipt of confirmation of proper transmission, and (v)&nbsp;if delivered by posting to any E-System, on the later of the Business Day of such
posting and the Business Day access to such posting is given to the recipient thereof in accordance with the standard procedures applicable to such E-System; provided, however, that no communications to Agent pursuant to <U>Article I</U> shall be
effective until received by Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) The posting, completion and/or submission by any Credit Party of any communication pursuant to
an <FONT STYLE="white-space:nowrap">E-System</FONT> shall constitute a representation and warranty by the Credit Parties that any representation, warranty, certification or other similar statement required by the Loan Documents to be provided, given
or made by a Credit Party in connection with any such communication is true, correct and complete except as expressly noted in such communication or E-System. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Each Lender shall notify Agent in writing of any changes in the address to which notices to such Lender should be directed, of addresses
of its Lending Office, of payment instructions in respect of all payments to be made to it hereunder and of such other administrative information as Agent shall reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.3 <U>Electronic Transmissions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Authorization</U>. Subject to the provisions of <U>Section&nbsp;8.2(a)</U>, each of Agent, Lenders, each Credit Party and each of their
Related Persons, is authorized (but not required) to transmit, post or otherwise make or communicate, in its sole discretion, Electronic Transmissions in connection with any Loan Document and the transactions contemplated therein. Each Credit Party
and each Secured Party hereto acknowledges and agrees that the use of Electronic Transmissions is not necessarily secure and that there are risks associated with such use, including risks of interception, disclosure and abuse and each indicates it
assumes and accepts such risks by hereby authorizing the transmission of Electronic Transmissions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Signatures</U>. Subject to the provisions of <U>Section&nbsp;8.2(a)</U>, (i)(A) no posting
to any E-System shall be denied legal effect merely because it is made electronically, (B)&nbsp;each <FONT STYLE="white-space:nowrap">E-Signature</FONT> on any such posting shall be deemed sufficient to satisfy any requirement for a
&#147;signature&#148; and (C)&nbsp;each such posting shall be deemed sufficient to satisfy any requirement for a &#147;writing&#148;, in each case including pursuant to any Loan Document, any applicable provision of any UCC, the federal Uniform
Electronic Transactions Act, the Electronic Signatures in Global and National Commerce Act and any substantive or procedural Requirement of Law governing such subject matter, (ii)&nbsp;each such posting that is not readily capable of bearing either
a signature or a reproduction of a signature may be signed, and shall be deemed signed, by attaching to, or logically associating with such posting, an E-Signature, upon which Agent, each Secured Party and each Credit Party may rely and assume the
authenticity thereof, (iii)&nbsp;each such posting containing a signature, a reproduction of a signature or an E-Signature shall, for all intents and purposes, have the same effect and weight as a signed paper original and (iv)&nbsp;each party
hereto or beneficiary hereto agrees not to contest the validity or enforceability of any posting on any E-System or E-Signature on any such posting under the provisions of any applicable Requirement of Law requiring certain documents to be in
writing or signed; provided, however, that nothing herein shall limit such party&#146;s or beneficiary&#146;s right to contest whether any posting to any E-System or E-Signature has been altered after transmission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Separate Agreements</U>. All uses of an E-System shall be governed by and subject to, in addition to <U>Section&nbsp;8.2</U> and this
<U>Section&nbsp;8.3</U>, the separate terms, conditions and privacy policy posted or referenced in such E-System (or such terms, conditions and privacy policy as may be updated from time to time, including on such
<FONT STYLE="white-space:nowrap">E-System)</FONT> and related Contractual Obligations executed by Agent and Credit Parties in connection with the use of such E-System. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>LIMITATION OF LIABILITY</U>. ALL E-SYSTEMS AND ELECTRONIC TRANSMISSIONS SHALL BE PROVIDED &#147;AS IS&#148; AND &#147;AS
AVAILABLE&#148;. NONE OF AGENT, ANY LENDER OR ANY OF THEIR RELATED PERSONS WARRANTS THE ACCURACY, ADEQUACY OR COMPLETENESS OF ANY E-SYSTEMS OR ELECTRONIC TRANSMISSION AND DISCLAIMS ALL LIABILITY FOR ERRORS OR OMISSIONS THEREIN. NO WARRANTY OF ANY
KIND IS MADE BY AGENT, ANY LENDER OR ANY OF THEIR RELATED PERSONS IN CONNECTION WITH ANY <FONT STYLE="white-space:nowrap">E-SYSTEMS</FONT> OR ELECTRONIC COMMUNICATION, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE,
NON-INFRINGEMENT OF THIRD-PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS. Each of the Borrower, each other Credit Party executing this Agreement and each Secured Party agrees that Agent has no responsibility for maintaining or providing
any equipment, software, services or any testing required in connection with any Electronic Transmission or otherwise required for any E-System. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.4 <U>No Waiver; Cumulative Remedies</U>. No failure to exercise and no delay in exercising, on the part of Agent or any Lender, any right,
remedy, power or privilege hereunder, shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right,
remedy, power or privilege. No course of dealing between any Credit Party, any Affiliate of any Credit Party, Agent or any Lender shall be effective to amend, modify or discharge any provision of this Agreement or any of the other Loan Documents.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.5 <U>Costs and Expenses</U>. Any action taken by any Credit Party under or with respect to any Loan Document, even if required under
any Loan Document or at the request of Agent or Required Lenders, shall be at the expense of such Credit Party, and neither Agent nor any other </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Secured Party shall be required under any Loan Document to reimburse any Credit Party or any Subsidiary of any Credit Party therefor except as expressly provided therein. In addition, the
Borrower agrees to pay or reimburse upon demand (a)&nbsp;Agent for all reasonable out-of-pocket costs and expenses incurred by it or any of its Related Persons, in connection with the investigation, development, preparation, negotiation,
syndication, execution, interpretation or administration of, any modification of any term of or termination of, any Loan Document, any commitment or proposal letter therefor, any other document prepared in connection therewith or the consummation
and administration of any transaction contemplated therein, in each case including Attorney Costs of Agent, the cost of environmental audits, insurance reviews, Collateral audits and appraisals, background checks and similar expenses, (b)&nbsp;Agent
for all reasonable costs and expenses incurred by it or any of its Related Persons in connection with internal audit reviews, field examinations and Collateral examinations (which shall be reimbursed, in addition to the out-of-pocket costs and
expenses of such examiners, at the per diem rate per individual charged by Agent for its examiners), (c)&nbsp;each of Agent, its Related Persons, Lenders and L/C Issuer for all reasonable costs and expenses incurred in connection with (i)&nbsp;any
refinancing or restructuring of the credit arrangements provided hereunder, (ii)&nbsp;the enforcement or preservation of any right or remedy under any Loan Document, any Obligation, with respect to the Collateral or any other related right or remedy
or (iii)&nbsp;the commencement, defense, conduct of, intervention in, or the taking of any other action (including, without limitation, preparation for and/or response to any subpoena or request for document production relating thereto) with respect
to, any proceeding (including any bankruptcy or insolvency proceeding) related to any Credit Party, any Subsidiary of any Credit Party, Loan Document, Obligation or Related Transaction, including Attorney Costs and (d)&nbsp;reasonable fees and
disbursements of Attorney Costs of one law firm on behalf of all Lenders (other than Agent) incurred in connection with any of the matters referred to in <U>clause (c)</U>&nbsp;above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.6 <U>Indemnity</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each
Credit Party agrees to indemnify, hold harmless and defend Agent, each Lender, each L/C Issuer and Related Persons (each such Person being an &#147;<U>Indemnitee</U>&#148;) from and against all Liabilities (including brokerage commissions, fees and
other compensation) that may be imposed on, incurred by or asserted against any such Indemnitee in any matter relating to or arising out of, in connection with or as a result of (i)&nbsp;any Loan Document, any Obligation (or the repayment thereof),
any Letter of Credit, the use or intended use of the proceeds of any Loan or the use of any Letter of Credit or any securities filing of, or with respect to, any Credit Party, (ii)&nbsp;any commitment letter, proposal letter or term sheet with any
Person or any Contractual Obligation, arrangement or understanding with any broker, finder or consultant, in each case entered into by or on behalf of any Credit Party or any Affiliate of any of them in connection with any of the foregoing and any
Contractual Obligation entered into in connection with any E-Systems or other Electronic Transmissions, (iii)&nbsp;any actual or prospective investigation, litigation or other proceeding, whether or not brought by any such Indemnitee or any of its
Related Persons, any holders of securities or creditors (and including attorneys&#146; fees in any case), whether or not any such Indemnitee, Related Person, holder or creditor is a party thereto, and whether or not based on any securities or
commercial law or regulation or any other Requirement of Law or theory thereof, including common law, equity, contract, tort or otherwise, (iv)&nbsp;any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any
refusal by any L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), or (v)&nbsp;any other act, event or
transaction related, contemplated in or attendant to any of the foregoing (collectively, the &#147;<U>Indemnified Matters</U>&#148;); provided, however, that no Credit Party shall have any liability under this <U>Section&nbsp;8.6</U> to any
Indemnitee with respect </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to any Indemnified Matter, and no Indemnitee shall have any liability with respect to any Indemnified Matter other than (to the extent otherwise liable), to the extent such liability has resulted
primarily from the gross negligence or willful misconduct of such Indemnitee, as determined by a court of competent jurisdiction in a final non-appealable judgment or order. Furthermore, each of the Borrower and each other Credit Party executing
this Agreement waives and agrees not to assert against any Indemnitee, and shall cause each other Credit Party to waive and not assert against any Indemnitee, any right of contribution with respect to any Liabilities that may be imposed on, incurred
by or asserted against any Related Person. This <U>Section&nbsp;8.6(a)</U> shall not apply with respect to Taxes other than any Taxes that represent Liabilities arising from any non-Tax claim. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Without limiting the foregoing, &#147;Indemnified Matters&#148; includes all Environmental Liabilities, including those arising from, or
otherwise involving, any Property of any Credit Party or any Related Person of any Credit Party or any actual, alleged or prospective damage to Property or natural resources or harm or injury alleged to have resulted from any Release of Hazardous
Materials on, upon or into such Property or natural resource or any Property on or contiguous to any Real Estate of any Credit Party or any Related Person of any Credit Party, whether or not, with respect to any such Environmental Liabilities, any
Indemnitee is a mortgagee pursuant to any leasehold mortgage, a mortgagee in possession, the successor-in-interest to any Credit Party or any Related Person of any Credit Party or the owner, lessee or operator of any Property of any Related Person
through any foreclosure action, in each case except to the extent such Environmental Liabilities (i)&nbsp;are incurred solely following foreclosure by Agent or following Agent or any Lender having become the successor-in-interest to any Credit Party
or any Related Person of any Credit Party and (ii)&nbsp;are attributable solely to acts of such Indemnitee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.7 <U>Marshaling; Payments
Set Aside</U>. No Secured Party shall be under any obligation to marshal any Property in favor of any Credit Party or any other Person or against or in payment of any Obligation. To the extent that any Secured Party receives a payment from the
Borrower, from any other Credit Party, from the proceeds of the Collateral, from the exercise of its rights of setoff, any enforcement action or otherwise, and such payment is subsequently, in whole or in part, invalidated, declared to be fraudulent
or preferential, set aside or required to be repaid to a trustee, receiver or any other party, then to the extent of such recovery, the obligation or part thereof originally intended to be satisfied, and all Liens, rights and remedies therefor,
shall be revived and continued in full force and effect as if such payment had not occurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.8 <U>Successors and Assigns</U>. The
provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns; provided that any assignment by any Lender shall be subject to the provisions of <U>Section&nbsp;8.9</U>,
and provided further that the Borrower or other Credit Party may not assign or transfer any of its rights or obligations under this Agreement or any other Loan Document without the prior written consent of Agent and each Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.9 <U>Assignments and Participations; Binding Effect</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Binding Effect</U>. This Agreement shall become effective when it shall have been executed by Holdings, the Borrower, the other Credit
Parties signatory hereto and Agent and when Agent shall have been notified by each Lender that such Lender has executed it. Thereafter, it shall be binding upon and inure to the benefit of, but only to the benefit of, Holdings, the Borrower, the
other Credit Parties hereto (in each case except for <U>Article&nbsp;VII</U>), Agent, each Lender and each L/C Issuer receiving the benefits of the Loan Documents and, to the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
extent provided in <U>Section&nbsp;7.11</U>, each other Secured Party and, in each case, their respective successors and permitted assigns. Except as expressly provided in any Loan Document
(including in <U>Section&nbsp;7.9</U>), none of Holdings, the Borrower, any other Credit Party, any L/C Issuer or Agent shall have the right to assign any rights or obligations hereunder or any interest herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Right to Assign</U>. Each Lender may sell, transfer, negotiate or assign (a &#147;<U>Sale</U>&#148;) all or a portion of its rights and
obligations hereunder (including all or a portion of its Revolving Loan Commitment and its rights and obligations with respect to Loans and Letters of Credit) to any of the following, unless the designated assignee constitutes a direct or indirect
business competitor of the Borrower engaged in the production or manufacturing of rolled flat-rolled aluminum products for sale to the beverage can or automotive industry: (i)&nbsp;any existing Lender (other than a Non-Funding Lender or Impacted
Lender); (ii)&nbsp;any Affiliate or Approved Fund of any existing Lender (other than a Non-Funding Lender or Impacted Lender); or (iii)&nbsp;any other Person acceptable (which acceptance shall not be unreasonably withheld or delayed) to Agent and,
with respect to Sales of Revolving Loan Commitments, each L/C Issuer that is a Lender and, as long as no Event of Default is continuing, the Borrower (which acceptances shall be deemed to have been given unless an objection is delivered to Agent
within five (5)&nbsp;Business Days after notice of a proposed sale is delivered to the Borrower) (each an &#147;<U>Eligible Assignee</U>&#148;); provided, however, that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(A)&nbsp;such Sales must be ratable among the obligations owing to and owed by such Lender with respect to the Revolving Loans; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(B) for each Loan, the aggregate outstanding principal amount (determined as of the effective date of the applicable Assignment) of the Loans,
Revolving Loan Commitment and Letter of Credit Obligations subject to any such Sale shall be in a minimum amount of $5,000,000, unless such Sale is made to an existing Lender or an Affiliate or Approved Fund of any existing Lender, is of the
assignor&#146;s (together with its Affiliates and Approved Funds) entire interest in such facility or is made with the prior consent of the Borrower (to the extent required) and Agent; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(C) such Sales shall be effective only upon the acknowledgement in writing of such Sale by Agent; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(D) interest accrued, prior to and through the date of any such Sale may not be assigned; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(E) such Sales by Lenders who are Non-Funding Lenders due to <U>clause (a)</U>&nbsp;of the definition of Non-Funding Lender shall be subject
to Agent&#146;s prior written consent in all instances, unless in connection with such Sale, such Non-Funding Lender cures, or causes the cure of, its Non-Funding Lender status as contemplated in <U>Section&nbsp;1.10(e)(v)</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Agent&#146;s refusal to accept a Sale to a Credit Party, a Senior Noteholder, Rexam, a holder of Subordinated Debt or an Affiliate of any of the foregoing, or
to any Person that would be a Non-Funding Lender or an Impacted Lender, or the imposition of conditions or limitations (including limitations on voting) upon Sales to such Persons, shall not be deemed to be unreasonable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Procedure</U>. The parties to each Sale made in reliance on <U>clause (b)</U>&nbsp;above (and excluding those described in <U>clause
(e)</U>, <U>(f)</U>&nbsp;or <U>(g)</U>&nbsp;below) shall execute and deliver to Agent an assignment agreement (an &#147;<U>Assignment</U>&#148;) entered into by a Lender, as assignor, and any Person, as assignee, pursuant to the terms and provisions
of this <U>Section&nbsp;8.9</U> (with the consent of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
any party whose consent is required by this <U>Section&nbsp;8.9</U>), accepted by Agent, substantially in the form of <U>Exhibit 8.9(c)</U> or any other form approved by Agent via an electronic
settlement system designated by Agent (or, if previously agreed with Agent, via a manual execution and delivery of the Assignment) evidencing such Sale, together with any existing Note subject to such Sale (or any affidavit of loss therefor
acceptable to Agent), any Tax forms required to be delivered pursuant to <U>Section&nbsp;9.1</U> and payment of an assignment fee in the amount of $3,500 to Agent, unless waived or reduced by Agent; provided, that (i)&nbsp;if a Sale by a Lender is
made to an Affiliate or an Approved Fund of such assigning Lender, then no assignment fee shall be due in connection with such Sale, and (ii)&nbsp;if a Sale by a Lender is made to an assignee that is not an Affiliate or Approved Fund of such
assignor Lender, and concurrently to one or more Affiliates or Approved Funds of such Assignee, then only one assignment fee of $3,500 shall be due in connection with such Sale (unless waived or reduced by Agent). Upon receipt of all the foregoing,
and conditioned upon such receipt and, if such Assignment is made in accordance with <U>clause (iii)</U>&nbsp;of <U>Section&nbsp;8.9(b)</U>, upon Agent (and the Borrower, if applicable) consenting to such Assignment, from and after the effective
date specified in such Assignment, Agent shall record or cause to be recorded in the Register the information contained in such Assignment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Effectiveness</U>. Subject to the recording of an Assignment by Agent in the Register pursuant to <U>Section&nbsp;1.4(b)</U>,
(i)&nbsp;the assignee thereunder shall become a party hereto and, to the extent that rights and obligations under the Loan Documents have been assigned to such assignee pursuant to such Assignment, shall have the rights and obligations of a Lender,
(ii)&nbsp;any applicable Note shall be transferred to such assignee through such entry and (iii)&nbsp;the assignor thereunder shall, to the extent that rights and obligations under this Agreement have been assigned by it pursuant to such Assignment,
relinquish its rights (except for the occurrence of the Facility Termination Date) and be released from its obligations under the Loan Documents, other than those relating to events or circumstances occurring prior to such assignment (and, in the
case of an Assignment covering all or the remaining portion of an assigning Lender&#146;s rights and obligations under the Loan Documents, such Lender shall cease to be a party hereto). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Grant of Security Interests</U>. In addition to the other rights provided in this <U>Section&nbsp;8.9</U>, each Lender may grant a
security interest in, or otherwise assign as collateral, any of its rights under this Agreement, whether now owned or hereafter acquired (including rights to payments of principal or interest on the Loans), to (A)&nbsp;any federal reserve bank
(pursuant to Regulation A of the Federal Reserve Board), without notice to Agent or (B)&nbsp;any holder of, or trustee for the benefit of the holders of, such Lender&#146;s Indebtedness or equity securities, by notice to Agent; provided, however,
that no such holder or trustee, whether because of such grant or assignment or any foreclosure thereon (unless such foreclosure is made through an assignment in accordance with <U>clause&nbsp;(b)</U> above), shall be entitled to any rights of such
Lender hereunder and no such Lender shall be relieved of any of its obligations hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Participants and Grant of Option to
Fund to SPVs</U>. In addition to the other rights provided in this <U>Section&nbsp;8.9</U>, each Lender may, (x)&nbsp;with notice to Agent, grant to an SPV the option to make all or any part of any Loan that such Lender would otherwise be required
to make hereunder (and the exercise of such option by such SPV and the making of Loans pursuant thereto shall satisfy the obligation of such Lender to make such Loans hereunder) and such SPV may assign to such Lender the right to receive payment
with respect to any Obligation and (y)&nbsp;without notice to or consent from Agent or the Borrower, sell participations to one or more Persons in or to all or a portion of its rights and obligations under the Loan Documents (including all its
rights and obligations with respect to the Revolving Loans and Letters of Credit); provided, however, that, whether as a result of any term of any Loan Document or of such grant or participation, (i)&nbsp;no such SPV or participant shall have a
commitment, or be deemed </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
to have made an offer to commit, to make Loans hereunder, and, except as provided in the applicable option agreement, none shall be liable for any obligation of such Lender hereunder,
(ii)&nbsp;such Lender&#146;s rights and obligations, and the rights and obligations of the Credit Parties and the Secured Parties towards such Lender, under any Loan Document shall remain unchanged and each other party hereto shall continue to deal
solely with such Lender, which shall remain the holder of the Obligations in the Register, except that (A)&nbsp;each such participant and SPV shall be entitled to the benefit of <U>Article X</U>, but, with respect to <U>Section&nbsp;9.1</U>, only to
the extent such participant or SPV delivers the Tax forms such Lender is required to collect pursuant to <U>Section&nbsp;9.1(g)</U> and then only to the extent of any amount to which such Lender would be entitled in the absence of any such grant or
participation except to the extent such entitlement to receive a greater amount results from any change in, or in the interpretation of, any Requirement of Law that occurs after the date such grant or participation is made and (B)&nbsp;each such SPV
may receive other payments that would otherwise be made to such Lender with respect to Loans funded by such SPV to the extent provided in the applicable option agreement and set forth in a notice provided to Agent by such SPV and such Lender,
provided, however, that in no case (including pursuant to <U>clause (A)</U>&nbsp;or <U>(B)</U>&nbsp;above) shall an SPV granted an option pursuant to this <U>clause (f)</U>&nbsp;or participant have the right to enforce any of the terms of any Loan
Document, and (iii)&nbsp;the consent of such SPV or participant shall not be required (either directly, as a restraint on such Lender&#146;s ability to consent hereunder or otherwise) for any amendments, waivers or consents with respect to any Loan
Document or to exercise or refrain from exercising any powers or rights such Lender may have under or in respect of the Loan Documents (including the right to enforce or direct enforcement of the Obligations), except for those described in
<U>clauses (ii)</U>&nbsp;and <U>(iii)</U>&nbsp;of <U>Section&nbsp;8.1(a)</U> with respect to amounts, or dates fixed for payment of amounts, to which such participant or SPV would otherwise be entitled and, in the case of participants, except for
those described in <U>clause (vi)</U>&nbsp;of <U>Section&nbsp;8.1(a)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Assignments to Affiliate SPVs</U>. In addition to the
other rights provided elsewhere in this <U>Section&nbsp;8.9</U>, each Lender that is an Affiliate of the Agent may, with notice to Agent in such form as shall be acceptable to the Agent (but without the consent of any Person and without compliance
with any limitation or procedure specified in subsection <U>8.9(b)</U> or <U>8.9(c)</U>), sell, transfer, negotiate or assign all or any portion of its rights, title or interests hereunder with respect to any Revolving Loans (including any interest
accrued or to accrue thereon) to an SPV that is an Affiliate of such Lender, and such SPV may thereafter, with notice to Agent, assign such Loan to any other SPV that is an Affiliate of such Lender or re-assign all or a portion of its interests in
any Revolving Loans to the Lender holding the related Revolving Loan Commitment; <U>provided</U>, <U>however</U>, that, whether as a result of any term of any Loan Document or of such Sale, no such SPV shall have a commitment, or be deemed to have
made an offer to commit, to make Revolving Loans hereunder, and none shall be liable for any obligation of such Lender hereunder. In the case of any Sale pursuant to this <U>clause&nbsp;(g)</U>, any assignee SPV shall have all the rights of a Lender
hereunder, including the rights described in <U>Section&nbsp;7.3(c)</U> and the right to receive all payments with respect to the assigned Obligations. Each such SPV shall be entitled to the benefit of <U>Section&nbsp;9.1</U> only to the extent such
SPV delivers the tax forms the assigning Lender is required to collect pursuant to <U>Section&nbsp;9.1(f)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) No party hereto shall
institute (and the Borrower and Holdings shall cause each other Credit Party not to institute) against any SPV that funds or purchases any Obligation pursuant to <U>clauses (f)</U>&nbsp;or <U>(g)</U>&nbsp;any bankruptcy, reorganization, insolvency,
liquidation or similar proceeding, prior to the date that is one year and one day after the payment in full of all outstanding commercial paper of such SPV; provided, however, that each Lender having designated an SPV as such agrees to indemnify
each Indemnitee against any Liability that may be incurred by, or asserted against, such Indemnitee as a result of failing to institute such proceeding </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(including a failure to be reimbursed by such SPV for any such Liability). The agreement in the preceding sentence shall survive the occurrence of the Facility Termination Date. In addition,
notwithstanding anything to the contrary contained in this <U>Section&nbsp;8.9</U>, any SPV may disclose on a confidential basis any non-public information relating to its Loans to any rating agency rating the obligations of such SPV. For the
avoidance of doubt, an SPV that is a trust formed by or at the direction of a Lender or an Affiliate of a Lender, as depositor, shall be deemed to be an Affiliate of such Lender. Each Lender that sells a participation shall, acting solely for this
purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each participant and the principal amounts (and stated interest) of each participant&#146;s interest in the Loans or other obligations
under the Loan Documents (the &#147;<U>Participant Register</U>&#148;); provided that no Lender shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any participant or any information
relating to a participant&#146;s interest in any commitments, loans, letters of credit or its other obligations under any Loan Document) to any Person other than Agent except to the extent that such disclosure is necessary to establish that such
commitment, loan, letter of credit or other obligation is in registered form under Section&nbsp;5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender
shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, Agent shall have no
responsibility for maintaining a Participant Register. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.10 <U>Non-Public Information; Confidentiality</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Non-Public Information</U>. Each of Agent, each Lender and L/C Issuer acknowledges and agrees that it may receive material non-public
information (&#147;<U>MNPI</U>&#148;) hereunder concerning the Credit Parties and their Affiliates and agrees to use such information in compliance with all relevant policies, procedures and applicable Requirements of Laws (including United States
federal and state security laws and regulations). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Confidential Information</U>. Each Lender, each L/C Issuer and Agent agree to
use all reasonable efforts to maintain, in accordance with its customary practices, the confidentiality of information obtained by it pursuant to any Loan Document and designated in writing by any Credit Party as confidential, except that such
information may be disclosed (i)&nbsp;with the Borrower&#146;s consent, (ii)&nbsp;to Related Persons of such Lender, L/C Issuer or Agent, as the case may be, or to any Person that any L/C Issuer causes to Issue Letters of Credit hereunder, that are
advised of the confidential nature of such information and are instructed to keep such information confidential in accordance with the terms hereof, (iii)&nbsp;to the extent such information presently is or hereafter becomes (A)&nbsp;publicly
available other than as a result of a breach of this <U>Section&nbsp;8.10</U> or (B)&nbsp;available to such Lender, L/C Issuer or Agent or any of their Related Persons, as the case may be, from a source (other than any Credit Party) not known by
them to be subject to disclosure restrictions, (iv)&nbsp;to the extent disclosure is required by applicable Requirements of Law or other legal process or requested or demanded by any Governmental Authority, (v)&nbsp;to the extent necessary or
customary for inclusion in league table measurements, (vi)&nbsp;(A)&nbsp;to the National Association of Insurance Commissioners or any similar organization, any examiner or any nationally recognized rating agency or (B)&nbsp;otherwise to the extent
consisting of general portfolio information that does not identify Credit Parties, (vii)&nbsp;to current or prospective assignees, SPVs (including the investors or prospective investors therein) or participants, direct or contractual counterparties
to any Secured Rate Contracts and to their respective Related Persons, in each case to the extent such assignees, investors, participants, counterparties or Related Persons agree to be bound by provisions substantially similar to the provisions of
this <U>Section&nbsp;8.10</U> (and such Person </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
may disclose information to their respective Related Persons in accordance with <U>clause (ii)</U>&nbsp;above), (viii)&nbsp;to any other party hereto, and (ix)&nbsp;in connection with the
exercise or enforcement of any right or remedy under any Loan Document, in connection with any litigation or other proceeding to which such Lender, L/C Issuer or Agent or any of their Related Persons is a party or bound, or to the extent necessary
to respond to public statements or disclosures by Credit Parties or their Related Persons referring to a Lender, L/C Issuer or Agent or any of their Related Persons. In the event of any conflict between the terms of this <U>Section&nbsp;8.10</U> and
those of any other Contractual Obligation entered into with any Credit Party (whether or not a Loan Document), the terms of this <U>Section&nbsp;8.10</U> shall govern. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Tombstones; League Tables</U>. Each Credit Party consents to the publication by Agent or any Lender of any press releases, tombstones,
advertising or other promotional materials (including, without limitation, via any Electronic Transmission) relating to the financing transactions contemplated by this Agreement using such Credit Party&#146;s name, product photographs, logo or
trademark. Agent or such Lender shall provide a draft of any such press release, advertising or other material to the Borrower for review and comment prior to the publication thereof; provided further publication of such information shall not
require additional review. Each Lender hereby consents to the disclosure by Agent, Lead Arranger and Bookrunners of information necessary or customary for inclusion in league table measurements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Press Release and Related Matters</U>. No Credit Party shall, and no Credit Party shall permit any of its Affiliates to, issue any
press release or other public disclosure (other than any document filed with any Governmental Authority relating to a public offering of securities of any Credit Party) using the name, logo or otherwise referring to GE Capital or of any of its
Affiliates, the Loan Documents or any transaction contemplated herein or therein to which GE Capital or any of its affiliates is party without the prior written consent of GE Capital or such Affiliate except to the extent required to do so under
applicable Requirements of Law and then, only after consulting with GE Capital. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Distribution of Materials to Lenders and L/C
Issuers</U>. The Credit Parties acknowledge and agree that the Loan Documents and all reports, notices, communications and other information or materials provided or delivered by, or on behalf of, the Credit Parties hereunder (collectively, the
&#147;<U>Borrower Materials</U>&#148;) may be disseminated by, or on behalf of, Agent, and made available, to the Lenders and the L/C Issuers by posting such Borrower Materials on an E-System. The Credit Parties authorize Agent to download copies of
their logos from its website and post copies thereof on an E-System. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Material Non-Public Information</U>. The Credit Parties
hereby agree that if either they, any parent company or any Subsidiary of the Credit Parties has publicly traded equity or debt securities in the U.S., they shall (and shall cause such parent company or Subsidiary, as the case may be, to)
(i)&nbsp;identify in writing, and (ii)&nbsp;to the extent reasonably practicable, clearly and conspicuously mark such Borrower Materials that contain only information that is publicly available or that is not material for purposes of U.S. federal
and state securities laws as &#147;PUBLIC&#148;. The Credit Parties agree that by identifying such Borrower Materials as &#147;PUBLIC&#148; or publicly filing such Borrower Materials with the Securities and Exchange Commission, then Agent, the
Lenders and the L/C Issuers shall be entitled to treat such Borrower Materials as not containing any MNPI for purposes of U.S. federal and state securities laws. The Credit Parties further represent, warrant, acknowledge and agree that the following
documents and materials shall be deemed to be PUBLIC, whether or not so marked, and do not contain any MNPI: (A)&nbsp;the Loan Documents, including the schedules and exhibits attached thereto, and (B)&nbsp;administrative materials of a customary
nature prepared by the Credit Parties or Agent (including, Notices of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Borrowing, Notices of Conversion/Continuation, L/C Requests, Swingline requests and any similar requests or notices posted on or through an E-System). Before distribution of any Borrower
Materials, the Credit Parties agree to execute and deliver to Agent a letter authorizing distribution of the evaluation materials to prospective Lenders and their employees willing to receive MNPI, and a separate letter authorizing distribution of
evaluation materials that do not contain MNPI and represent that no MNPI is contained therein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.11 <U>Set-off; Sharing of Payments</U>.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Right of Setoff</U>. Each of Agent, each Lender, each L/C Issuer and each Affiliate (including each branch office thereof) of any
of them is hereby authorized, without notice or demand (each of which is hereby waived by each Credit Party), at any time and from time to time during the continuance of any Event of Default and to the fullest extent permitted by applicable
Requirements of Law, to set off and apply any and all deposits (whether general or special, time or demand, provisional or final) at any time held and other Indebtedness, claims or other obligations at any time owing by Agent, such Lender, such L/C
Issuer or any of their respective Affiliates to or for the credit or the account of the Borrower or any other Credit Party against any Obligation of any Credit Party now or hereafter existing, whether or not any demand was made under any Loan
Document with respect to such Obligation and even though such Obligation may be unmatured. No Lender or L/C Issuer shall exercise any such right of setoff without the prior consent of Agent or Required Lenders. Each of Agent, each Lender and each
L/C Issuer agrees promptly to notify the Borrower and Agent after any such setoff and application made by such Lender or its Affiliates; provided, however, that the failure to give such notice shall not affect the validity of such setoff and
application. The rights under this <U>Section&nbsp;8.11</U> are in addition to any other rights and remedies (including other rights of setoff) that Agent, the Lenders, the L/C Issuer, their Affiliates and the other Secured Parties, may have. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Sharing of Payments, Etc</U>. If any Lender, directly or through an Affiliate or branch office thereof, obtains any payment of any
Obligation of any Credit Party (whether voluntary, involuntary or through the exercise of any right of setoff or the receipt of any Collateral or &#147;proceeds&#148; (as defined under the applicable UCC) of Collateral) other than pursuant to
<U>Section&nbsp;8.9</U> or <U>Article IX</U> and such payment exceeds the amount such Lender would have been entitled to receive if all payments had gone to, and been distributed by, Agent in accordance with the provisions of the Loan Documents,
such Lender shall purchase for cash from other Lenders such participations in their Obligations as necessary for such Lender to share such excess payment with such Lenders to ensure such payment is applied as though it had been received by Agent and
applied in accordance with this Agreement (or, if such application would then be at the discretion of the Borrower, applied to repay the Obligations in accordance herewith); provided, however, that (i)&nbsp;if such payment is rescinded or otherwise
recovered from such Lender or L/C Issuer in whole or in part, such purchase shall be rescinded and the purchase price therefor shall be returned to such Lender or L/C Issuer without interest and (ii)&nbsp;such Lender shall, to the fullest extent
permitted by applicable Requirements of Law, be able to exercise all its rights of payment (including the right of setoff) with respect to such participation as fully as if such Lender were the direct creditor of the applicable Credit Party in the
amount of such participation. If a Non-Funding Lender receives any such payment as described in the previous sentence, such Lender shall turn over such payments to Agent in an amount that would satisfy the cash collateral requirements set forth in
<U>Section&nbsp;1.10(e)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.12 <U>Counterparts; Facsimile Signature</U>. This Agreement may be executed in any number of counterparts
and by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and the same agreement. Signature pages may be detached from multiple separate counterparts and attached to a single counterpart. Delivery of an executed signature page of this Agreement by
facsimile transmission or Electronic Transmission shall be as effective as delivery of a manually executed counterpart hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.13
<U>Severability</U>. The illegality or unenforceability of any provision of this Agreement or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this
Agreement or any instrument or agreement required hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.14 <U>Captions</U>. The captions and headings of this Agreement are for
convenience of reference only and shall not affect the interpretation of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.15 <U>Independence of Provisions</U>. The
parties hereto acknowledge that this Agreement and the other Loan Documents may use several different limitations, tests or measurements to regulate the same or similar matters, and that such limitations, tests and measurements are cumulative and
must each be performed, except as expressly stated to the contrary in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.16 <U>Interpretation</U>. This Agreement is the
result of negotiations among and has been reviewed by counsel to Credit Parties, Agent, each Lender and other parties hereto, and is the product of all parties hereto. Accordingly, this Agreement and the other Loan Documents shall not be construed
against the Lenders or Agent merely because of Agent&#146;s or Lenders&#146; involvement in the preparation of such documents and agreements. Without limiting the generality of the foregoing, each of the parties hereto has had the advice of counsel
with respect to <U>Sections 8.18</U> and <U>8.19</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.17 <U>No Third Parties Benefited</U>. This Agreement is made and entered into for
the sole protection and legal benefit of the Borrower, the Lenders, the L/C Issuers party hereto, Agent and, subject to the provisions of <U>Section&nbsp;7.11</U>, each other Secured Party, and their permitted successors and assigns, and no other
Person shall be a direct or indirect legal beneficiary of, or have any direct or indirect cause of action or claim in connection with, this Agreement or any of the other Loan Documents. Neither Agent nor any Lender shall have any obligation to any
Person not a party to this Agreement or the other Loan Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.18 <U>Governing Law and Jurisdiction</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Governing Law</U>. The laws of the State of New York shall govern all matters arising out of, in connection with or relating to this
Agreement, including, without limitation, its validity, interpretation, construction, performance and enforcement (including, without limitation, any claims sounding in contract or tort law arising out of the subject matter hereof and any
determinations with respect to post-judgment interest). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Submission to Jurisdiction</U>. Any legal action or proceeding with
respect to any Loan Document shall be brought exclusively in the courts of the State of New York located in the City of New York, Borough of Manhattan, or of the United States of America for the Southern District of New York and, by execution and
delivery of this Agreement, the Borrower and each other Credit Party executing this Agreement hereby accepts for itself and in respect of its Property, generally and unconditionally, the jurisdiction of the aforesaid courts. Each party hereto (and,
to the extent set forth in any other Loan Document, each other Credit Party) hereby irrevocably waives any objection, including any objection to the laying of venue or based on the grounds of forum non conveniens, that such party may now or
hereafter have to the bringing of any such action or proceeding in such jurisdictions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Service of Process</U>. Each Credit Party hereby irrevocably waives personal service of
any and all legal process, summons, notices and other documents and other service of process of any kind and consents to such service in any suit, action or proceeding brought in the United States of America with respect to or otherwise arising out
of or in connection with any Loan Document by any means permitted by applicable Requirements of Law, including by the mailing thereof (by registered or certified mail, postage prepaid) to the address of the Borrower specified herein (and shall be
effective when such mailing shall be effective, as provided therein). Each Credit Party agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Non-Exclusive Jurisdiction</U>. Nothing contained in this <U>Section&nbsp;8.18</U> shall affect the
right of Agent or any Lender to serve process in any other manner permitted by applicable Requirements of Law or commence legal proceedings or otherwise proceed against any Credit Party in any other jurisdiction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.19 <U>Waiver of Jury Trial</U>. EACH PARTY HERETO, TO THE EXTENT PERMITTED BY LAW, WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT, OR
PROCEEDING ARISING OUT OF, IN CONNECTION WITH OR RELATING TO, THIS AGREEMENT, THE OTHER LOAN DOCUMENTS AND ANY OTHER TRANSACTION CONTEMPLATED HEREBY AND THEREBY. THIS WAIVER APPLIES TO ANY ACTION, SUIT OR PROCEEDING WHETHER SOUNDING IN TORT,
CONTRACT OR OTHERWISE. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.20 <U>Entire Agreement; Release; Survival</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) THE LOAN DOCUMENTS EMBODY THE ENTIRE AGREEMENT OF THE PARTIES AND SUPERSEDE ALL PRIOR AGREEMENTS AND UNDERSTANDINGS RELATING TO THE
SUBJECT MATTER THEREOF AND ANY PRIOR LETTER OF INTEREST, COMMITMENT LETTER, CONFIDENTIALITY AND SIMILAR AGREEMENTS INVOLVING ANY CREDIT PARTY AND ANY LENDER OR ANY L/C ISSUER OR ANY OF THEIR RESPECTIVE AFFILIATES RELATING TO A FINANCING OF
SUBSTANTIALLY SIMILAR FORM, PURPOSE OR EFFECT OTHER THAN THE FEE LETTER. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THIS AGREEMENT AND ANY OTHER LOAN DOCUMENT, THE TERMS OF THIS AGREEMENT SHALL GOVERN (UNLESS OTHERWISE EXPRESSLY STATED IN
SUCH OTHER LOAN DOCUMENT OR SUCH TERMS OF SUCH OTHER LOAN DOCUMENTS ARE NECESSARY TO COMPLY WITH APPLICABLE REQUIREMENTS OF LAW, IN WHICH CASE SUCH TERMS SHALL GOVERN TO THE EXTENT NECESSARY TO COMPLY THEREWITH). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Execution of this Agreement by the Credit Parties constitutes a full, complete and irrevocable release of any and all claims which each
Credit Party may have at law or in equity in respect of all prior discussions and understandings, oral or written, relating to the subject matter of this Agreement and the other Loan Documents. In no event shall any Indemnitee be liable on any
theory of liability for any special, indirect, consequential or punitive damages (including any loss of profits, business or anticipated savings). Each of the Borrower and each other Credit Party signatory hereto hereby waives, releases and agrees
(and shall cause </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
each other Credit Party to waive, release and agree) not to sue upon any such claim for any special, indirect, consequential or punitive damages, whether or not accrued and whether or not known
or suspected to exist in its favor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) (i)&nbsp;Any indemnification or other protection provided to any Indemnitee pursuant to this
<U>Section&nbsp;8.20</U>, <U>Sections 8.5</U> (Costs and Expenses) and <U>8.6</U> (Indemnity) and <U>Article VII</U> (Agent) and <U>Article</U> <U>IX</U> (Taxes, Yield Protection and Illegality) and (ii)&nbsp;the provisions of
<U>Section&nbsp;8.1</U> of the Guaranty and Security Agreement, in each case, shall (x)&nbsp;survive the occurrence of the Facility Termination Date (y)&nbsp;with respect to <U>clause (i)</U>&nbsp;above, inure to the benefit of any Person that at
any time held a right thereunder (as an Indemnitee or otherwise) and, thereafter, its successors and permitted assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.21 <U>Patriot
Act</U>. Each Lender that is subject to the Patriot Act hereby notifies the Credit Parties that pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies each Credit Party, which
information includes the name and address of each Credit Party and other information that will allow such Lender to identify each Credit Party in accordance with the Patriot Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.22 <U>Replacement of Lender</U>. Within forty-five days after: (i)&nbsp;receipt by the Borrower of written notice and demand from any Lender
that is not Agent or an Affiliate of Agent (an &#147;<U>Affected Lender</U>&#148;) for payment of additional costs as provided in <U>Sections 9.1</U>, <U>9.3</U> and/or <U>9.6</U>; or (ii)&nbsp;any failure by any Lender (other than Agent or an
Affiliate of Agent) to consent to a requested amendment, waiver or modification to any Loan Document in which Required Lenders have already consented to such amendment, waiver or modification but the consent of each Lender (or each Lender directly
affected thereby, as applicable) is required with respect thereto, the Borrower may, at its option, notify Agent and such Affected Lender (or such non-consenting Lender) of the Borrower&#146;s intention to obtain, at the Borrower&#146;s expense, a
replacement Lender (&#147;<U>Replacement Lender</U>&#148;) for such Affected Lender (or such non-consenting Lender), which Replacement Lender shall be reasonably satisfactory to Agent. In the event the Borrower obtains a Replacement Lender within
forty-five (45)&nbsp;days following notice of its intention to do so, the Affected Lender (or such non-consenting Lender) shall sell and assign its Loans and Revolving Loan Commitment to such Replacement Lender, at par, provided that the Borrower
has reimbursed such Affected Lender for its increased costs for which it is entitled to reimbursement under this Agreement through the date of such sale and assignment. In the event that a replaced Lender does not execute an Assignment pursuant to
<U>Section&nbsp;8.9</U> within five (5)&nbsp;Business Days after receipt by such replaced Lender of notice of replacement pursuant to this <U>Section&nbsp;8.22</U> and presentation to such replaced Lender of an Assignment evidencing an assignment
pursuant to this <U>Section&nbsp;9.22</U>, the Borrower shall be entitled (but not obligated) to execute such an Assignment on behalf of such replaced Lender, and any such Assignment so executed by the Borrower, the Replacement Lender and Agent,
shall be effective for purposes of this <U>Section&nbsp;8.22</U> and <U>Section&nbsp;8.9</U>. Notwithstanding the foregoing, with respect to a Lender that is a Non-Funding Lender or an Impacted Lender, Agent may, but shall not be obligated to,
obtain a Replacement Lender and execute an Assignment on behalf of such Non-Funding Lender or Impacted Lender at any time with three (3)&nbsp;Business Days&#146; prior notice to such Lender (unless notice is not practicable under the circumstances)
and cause such Lender&#146;s Loans and Commitments to be sold and assigned, in whole or in part, at par. Upon any such assignment and payment and compliance with the other provisions of <U>Section&nbsp;8.9</U>, such replaced Lender shall no longer
constitute a &#147;Lender&#148; for purposes hereof; provided, any rights of such replaced Lender to indemnification hereunder shall survive. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.23 <U>Joint and Several</U>. The obligations of the Credit Parties hereunder and under the other Loan Documents are joint and several. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.24 <U>Creditor-Debtor Relationship</U>. The relationship between Agent, each Lender and the L/C
Issuer, on the one hand, and the Credit Parties, on the other hand, is solely that of creditor and debtor. No Secured Party has any fiduciary relationship or duty to any Credit Party arising out of or in connection with, and there is no agency,
tenancy or joint venture relationship between the Secured Parties and the Credit Parties by virtue of, any Loan Document or any transaction contemplated therein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.25 <U>Actions in Concert</U>. Notwithstanding anything contained herein to the contrary, each Lender hereby agrees with each other Lender
that no Lender shall take any action to protect or enforce its rights against any Credit Party arising out of this Agreement or any other Loan Document (including exercising any rights of setoff) without first obtaining the prior written consent of
Agent or Required Lenders, it being the intent of Lenders that any such action to protect or enforce rights under this Agreement and the other Loan Documents shall be taken in concert and at the direction or with the consent of Agent or Required
Lenders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.26 <U>Keepwell</U>. Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably
undertakes to provide such funds or other support as may be needed from time to time by each other Credit Party to honor all of its obligations under the Guaranty and Security Agreement in respect of Swap Obligations under any Secured Rate Contract
(provided, however, that each Qualified ECP Guarantor shall only be liable under this <U>Section&nbsp;9.26</U> for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this
<U>Section&nbsp;8.26</U>, or otherwise under the Guaranty and Security Agreement, voidable under applicable Requirements of Law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each
Qualified ECP Guarantor under this <U>Section&nbsp;8.26</U> shall remain in full force and effect until the guarantees in respect of Swap Obligations under each Secured Rate Contract have been discharged, or otherwise released or terminated in
accordance with the terms of this Agreement. Each Qualified ECP Guarantor intends that this <U>Section&nbsp;8.26</U> constitute, and this <U>Section&nbsp;8.26</U> shall be deemed to constitute, a &#147;keepwell, support, or other agreement&#148; for
the benefit of each other Credit Party for all purposes of Section&nbsp;1a(18)(A)(v)(II) of the Commodity Exchange Act. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE
IX.</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TAXES, YIELD PROTECTION AND ILLEGALITY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.1 <U>Taxes</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Except
as required by a Requirement of Law, each payment by any Credit Party under any Loan Document shall be made free and clear of all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup withholding), assessments,
fees or other charges imposed by any Governmental Authority, including any interest, additions to tax, penalties or other Liabilities) with respect thereto (collectively, &#147;<U>Taxes</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If any Taxes shall be required by any Requirement of Law to be deducted from or in respect of any amount payable under any Loan Document
to any Secured Party (i)&nbsp;if such Tax is an Indemnified Tax, such amount payable shall be increased as necessary to ensure that, after all required deductions for Indemnified Taxes are made (including deductions applicable to any increases to
any amount under this <U>Section&nbsp;9.1</U>), such Secured Party receives the amount it would have received had no such deductions been made, (ii)&nbsp;the relevant Credit Party shall make such deductions, (iii)&nbsp;the relevant Credit Party
shall timely pay the full amount </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
deducted to the relevant Governmental Authority in accordance with applicable Requirements of Law and (iv)&nbsp;within thirty (30)&nbsp;days after such payment is made, the relevant Credit Party
shall deliver to Agent an original or certified copy of a receipt evidencing such payment or other evidence of payment reasonably satisfactory to Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) In addition, the Borrower agrees to pay, and authorize Agent to pay in their name, any stamp, documentary, excise or property Tax, charges
or similar levies imposed by any applicable Requirement of Law or Governmental Authority and all Liabilities with respect thereto (including by reason of any delay in payment thereof), in each case arising from the execution, delivery or
registration of, or otherwise with respect to, any Loan Document or any transaction contemplated therein (collectively, &#147;<U>Other Taxes</U>&#148;). The Swingline Lender may, without any need for notice, demand or consent from the Borrower, by
making funds available to Agent in the amount equal to any such payment, make a Swing Loan to the Borrower in such amount, the proceeds of which shall be used by Agent in whole to make such payment. Within thirty (30)&nbsp;days after the date of any
payment of Other Taxes by any Credit Party, the Borrower shall furnish to Agent, at its address referred to in <U>Section&nbsp;8.2</U>, the original or a certified copy of a receipt evidencing payment thereof or other evidence of payment reasonably
satisfactory to Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Credit Parties hereby acknowledge and agree that (i)&nbsp;neither GE Capital nor any Affiliate of GE
Capital has provided any Tax advice to any Tax Affiliate in connection with the transactions contemplated hereby or any other matters and (ii)&nbsp;the Credit Parties have received appropriate Tax advice to the extent necessary to confirm that the
structure of any transaction contemplated by the Credit Parties in connection with this Agreement complies in all material respects with applicable federal, state and foreign Tax laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The Borrower shall reimburse and indemnify, within thirty (30)&nbsp;days after receipt of demand therefor (with copy to Agent), each
Secured Party for all Indemnified Taxes (including any Indemnified Taxes imposed by any jurisdiction on amounts payable under this <U>Section&nbsp;9.1</U>) paid or payable by such Secured Party and any Liabilities arising therefrom or with respect
thereto, whether or not such Indemnified Taxes were correctly or legally asserted. A certificate of the Secured Party (or of Agent on behalf of such Secured Party) claiming any compensation under this <U>Section&nbsp;9.1</U>, setting forth the
amounts to be paid thereunder and delivered to the Borrower with copy to Agent, shall be conclusive, binding and final for all purposes, absent manifest error. In determining such amount, Agent and such Secured Party may use any reasonable averaging
and attribution methods. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Any Lender claiming any additional amounts payable pursuant to this <U>Section&nbsp;9.1</U> shall use its
reasonable efforts (consistent with its internal policies and Requirements of Law) to change the jurisdiction of its Lending Office if such a change would reduce any such additional amounts (or any similar amount that may thereafter accrue) and
would not, in the sole determination of such Lender, be otherwise disadvantageous to such Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) (i) Each Non-U.S. Lender Party
that, at any of the following times, is entitled to an exemption from United States withholding Tax or, after a change in any Requirement of Law, is subject to such withholding Tax at a reduced rate under an applicable Tax treaty, shall (w)&nbsp;on
or prior to the date such Non-U.S. Lender Party becomes a &#147;Non-U.S. Lender Party&#148; hereunder, (x)&nbsp;on or prior to the date on which any such form or certification expires or becomes obsolete, (y)&nbsp;after the occurrence of any event
requiring a change in the most recent form or certification previously delivered by it pursuant to this <U>clause (i)</U>&nbsp;and (z)&nbsp;from time to time if requested by the Borrower or Agent (or, in the case of a participant or SPV, the
relevant </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Lender), provide Agent and the Borrower (or, in the case of a participant or SPV, the relevant Lender) with two completed originals of one of the following, as applicable: (A)&nbsp;Forms W-8ECI
(claiming exemption from U.S. withholding Tax because the income is effectively connected with a U.S. trade or business), W-8BEN (claiming exemption from, or a reduction of, U.S. withholding Tax under an income Tax treaty) and/or W-8IMY (together
with appropriate forms, certifications and supporting statements) or any successor forms, (B)&nbsp;in the case of a Non-U.S. Lender Party claiming exemption under Sections 871(h) or 881(c) of the Code, Form W-8BEN (claiming exemption from U.S.
withholding Tax under the portfolio interest exemption) or any successor form and a certificate in form and substance acceptable to Agent that such Non-U.S. Lender Party is not (1)&nbsp;a &#147;bank&#148; within the meaning of
Section&nbsp;881(c)(3)(A) of the Code, (2)&nbsp;a &#147;10 percent shareholder&#148; of the Borrower within the meaning of Section&nbsp;881(c)(3)(B) of the Code or (3)&nbsp;a &#147;controlled foreign corporation&#148; described in
Section&nbsp;881(c)(3)(C) of the Code or (C)&nbsp;any other applicable document prescribed by the IRS certifying as to the entitlement of such Non-U.S. Lender Party to such exemption from United States withholding Tax or reduced rate with respect to
all payments to be made to such Non-U.S. Lender Party under the Loan Documents. Unless the Borrower and Agent have received forms or other documents satisfactory to them indicating that payments under any Loan Document to or for a Non-U.S. Lender
Party are not subject to United States withholding Tax or are subject to such Tax at a rate reduced by an applicable Tax treaty, the Credit Parties and Agent shall withhold amounts required to be withheld by applicable Requirements of Law from such
payments at the applicable statutory rate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) Each U.S. Lender Party shall (A)&nbsp;on or prior to the date such U.S. Lender Party
becomes a &#147;U.S. Lender Party&#148; hereunder, (B)&nbsp;on or prior to the date on which any such form or certification expires or becomes obsolete, (C)&nbsp;after the occurrence of any event requiring a change in the most recent form or
certification previously delivered by it pursuant to this <U>clause (g)</U>&nbsp;and (D)&nbsp;from time to time if requested by the Borrower or Agent (or, in the case of a participant or SPV, the relevant Lender), provide Agent and the Borrower (or,
in the case of a participant or SPV, the relevant Lender) with two completed originals of Form W-9 (certifying that such U.S. Lender Party is entitled to an exemption from U.S. backup withholding Tax) or any successor form. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) Each Lender having sold a participation in any of its Obligations or identified an SPV as such to Agent shall collect from such
participant or SPV the documents described in this <U>clause (g)</U>&nbsp;and provide them to Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) If a payment made to a Non-U.S.
Lender Party would be subject to United States federal withholding Tax imposed by FATCA if such Non-U.S. Lender Party fails to comply with the applicable reporting requirements of FATCA, such Non-U.S. Lender Party shall deliver to Agent and Borrower
any documentation under any Requirement of Law or reasonably requested by Agent or Borrower sufficient for Agent or Borrower to comply with their obligations under FATCA and to determine that such Non-U.S. Lender has complied with its obligations
under FATCA or to determine the amount to deduct and withhold from such payment. Solely for the purposes of this clause (iv), &#147;FATCA&#148; shall include any amendments made to FATCA after the date of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) If any Secured Party determines, in its sole discretion exercised in good faith, that it has received a refund of any Indemnified Taxes as
to which it has been indemnified pursuant to this <U>Section&nbsp;9.1</U> (including by the payment of additional amounts pursuant to Section&nbsp;<U>9.1(b)</U>), it shall pay to the relevant Credit Party an amount equal to such refund (but only to
the extent of indemnity payments made under this <U>Section&nbsp;9.1</U> with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such Secured Party and
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such Credit Party, upon the request of such Secured Party, shall repay to such
Secured Party the amount paid over pursuant to this <U>Section&nbsp;9.1(h)</U> (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such Secured Party is required to repay such refund to
such Governmental Authority. Notwithstanding anything to the contrary in this <U>Section&nbsp;9.1(h)</U>, in no event shall the Secured Party be required to pay any amount to a Credit Party pursuant to this <U>Section&nbsp;9.1(h)</U> the payment of
which would place the Secured Party in a less favorable net after-Tax position than the Secured Party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and
the indemnification payments or additional amounts with respect to such Tax had never been paid. This <U>Section&nbsp;9.1(h)</U> shall not be construed to require any Secured Party to make available its Tax returns (or any other information relating
to its Taxes that it deems confidential) to the Credit Party or any other Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.2 <U>Illegality</U>. If after the date hereof any
Lender shall determine that the introduction of any Requirement of Law, or any change in any Requirement of Law or in the interpretation or administration thereof, has made it unlawful, or that any central bank or other Governmental Authority has
asserted that it is unlawful, for any Lender or its Lending Office to make LIBOR Rate Loans, then, on notice thereof by such Lender to the Borrower through Agent, the obligation of that Lender to make LIBOR Rate Loans shall be suspended until such
Lender shall have notified Agent and the Borrower that the circumstances giving rise to such determination no longer exists. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Subject
to <U>clause (c)</U>&nbsp;below, if any Lender shall determine that it is unlawful to maintain any LIBOR Rate Loan, the Borrower shall prepay in full all LIBOR Rate Loans of such Lender then outstanding, together with interest accrued thereon,
either on the last day of the Interest Period thereof if such Lender may lawfully continue to maintain such LIBOR Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such LIBOR Rate Loans, together with any
amounts required to be paid in connection therewith pursuant to <U>Section&nbsp;9.4</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If the obligation of any Lender to make or
maintain LIBOR Rate Loans has been terminated, the Borrower may elect, by giving notice to such Lender through Agent that all Loans which would otherwise be made by any such Lender as LIBOR Rate Loans shall be instead Base Rate Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Before giving any notice to Agent pursuant to this <U>Section&nbsp;9.2</U>, the affected Lender shall designate a different Lending Office
with respect to its LIBOR Rate Loans if such designation will avoid the need for giving such notice or making such demand and will not, in the judgment of the Lender, be illegal or otherwise disadvantageous to the Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.3 <U>Increased Costs and Reduction of Return</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If any Lender or L/C Issuer shall determine that, due to either (i)&nbsp;the introduction of, or any change in, or in the interpretation
of, any Requirement of Law or (ii)&nbsp;the compliance with any guideline or request from any central bank or other Governmental Authority (whether or not having the force of law), in the case of either <U>clause (i)</U>&nbsp;or
<U>(ii)</U>&nbsp;subsequent to the date hereof, (x)&nbsp;there shall be any increase in the cost to such Lender or L/C Issuer of agreeing to make or making, funding or maintaining any LIBOR Rate Loans or of Issuing or maintaining any Letter of
Credit or (y)&nbsp;the Lender or L/C Issuer shall be subject to any Taxes (other than (A)&nbsp;Indemnified Taxes, (B)&nbsp;Taxes described in clauses (b)&nbsp;through (d)&nbsp;of the definition of Excluded
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Taxes and (C)&nbsp;Connection Income Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital
attributable thereto, then the Borrower shall be liable for, and shall from time to time, within thirty (30)&nbsp;days of demand therefor by such Lender or L/C Issuer (with a copy of such demand to Agent), pay to Agent for the account of such Lender
or L/C Issuer, additional amounts as are sufficient to compensate such Lender or L/C Issuer for such increased costs or such Taxes; provided, that the Borrower shall not be required to compensate any Lender or L/C Issuer pursuant to this
<U>Section&nbsp;9.3(a)</U> for any increased costs incurred more than 180 days prior to the date that such Lender or L/C Issuer notifies the Borrower, in writing of the increased costs and of such Lender&#146;s or L/C Issuer&#146;s intention to
claim compensation thereof; provided, further, that if the circumstance giving rise to such increased costs is retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) If any Lender or L/C Issuer shall have determined that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) the introduction of any Capital Adequacy Regulation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) any change in any Capital Adequacy Regulation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) any change in the interpretation or administration of any Capital Adequacy Regulation by any central bank or other Governmental
Authority charged with the interpretation or administration thereof; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) compliance by such Lender or L/C Issuer (or its Lending
Office) or any entity controlling the Lender or L/C Issuer, with any Capital Adequacy Regulation; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">affects the amount of capital required or expected to
be maintained by such Lender or L/C Issuer or any entity controlling such Lender or L/C Issuer and (taking into consideration such Lender&#146;s or such entities&#146; policies with respect to capital adequacy and such Lender&#146;s or L/C
Issuer&#146;s desired return on capital) determines that the amount of such capital is increased as a consequence of its Revolving Loan Commitment, loans, credits or obligations under this Agreement, then, within thirty (30)&nbsp;days of demand of
such Lender or L/C Issuer (with a copy to Agent), the Borrower shall pay to such Lender or L/C Issuer, from time to time as specified by such Lender or L/C Issuer, additional amounts sufficient to compensate such Lender or L/C Issuer (or the entity
controlling the Lender or L/C Issuer) for such increase; provided, that the Borrower shall not be required to compensate any Lender or L/C Issuer pursuant to this <U>Section&nbsp;9.3(b)</U> for any amounts incurred more than 180 days prior to the
date that such Lender or L/C Issuer notifies the Borrower, in writing of the amounts and of such Lender&#146;s or L/C Issuer&#146;s intention to claim compensation thereof; provided, further, that if the event giving rise to such increase is
retroactive, then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
Notwithstanding anything herein to the contrary, (i)&nbsp;the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii)&nbsp;all requests, rules,
guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States of America or foreign regulatory authorities, in each case in
respect of this clause (ii)&nbsp;pursuant to Basel III, shall, in each case, be deemed to be a change in a Requirement of Law under <U>Section&nbsp;9.3(a)</U> above and/or a change in Capital Adequacy Regulation under <U>Section&nbsp;9.3(b)</U>
above, as applicable, regardless of the date enacted, adopted or issued. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.4 <U>Funding Losses</U>. The Borrower agrees to reimburse each Lender and to hold each Lender
harmless from any loss or expense which such Lender may sustain or incur as a consequence of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the failure of the Borrower to make any
payment or mandatory prepayment of principal of any LIBOR Rate Loan (including payments made after any acceleration thereof); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the
failure of the Borrower to borrow, continue or convert a Loan after it has given (or is deemed to have given) a Notice of Borrowing or a Notice of Conversion/Continuation; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the failure of the Borrower to make any prepayment after it has given a notice in accordance with <U>Section&nbsp;1.7</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the prepayment (including pursuant to <U>Section&nbsp;1.7</U> or any required assignment under <U>Section&nbsp;8.22</U>) of a LIBOR Rate
Loan on a day which is not the last day of the Interest Period with respect thereto; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the conversion pursuant to
<U>Section&nbsp;1.6</U> of any LIBOR Rate Loan to a Base Rate Loan on a day that is not the last day of the applicable Interest Period; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">including any
such loss or expense arising from the liquidation or reemployment of funds obtained by it to maintain its LIBOR Rate Loans hereunder or from fees payable to terminate the deposits from which such funds were obtained; provided that, with respect to
the expenses described in <U>clauses (d)</U>&nbsp;and <U>(e)</U>&nbsp;above, such Lender shall have notified Agent of any such expense within two (2)&nbsp;Business Days of the date on which such expense was incurred. Solely for purposes of
calculating amounts payable by the Borrower to the Lenders under this <U>Section&nbsp;9.4</U> and under <U>Section&nbsp;9.3(a)</U>: each LIBOR Rate Loan made by a Lender (and each related reserve, special deposit or similar requirement) shall be
conclusively deemed to have been funded at the LIBOR used in determining the interest rate for such LIBOR Rate Loan by a matching deposit or other borrowing in the interbank Eurodollar market for a comparable amount and for a comparable period,
whether or not such LIBOR Rate Loan is in fact so funded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.5 <U>Inability to Determine Rates</U>. If Agent shall have determined in good
faith that for any reason adequate and reasonable means do not exist for ascertaining the LIBOR for any requested Interest Period with respect to a proposed LIBOR Rate Loan or that the LIBOR applicable pursuant to <U>Section&nbsp;1.3(a)</U> for any
requested Interest Period with respect to a proposed LIBOR Rate Loan does not adequately and fairly reflect the cost to the Lenders of funding or maintaining such Loan, Agent will forthwith give notice of such determination to the Borrower and each
Lender. Thereafter, the obligation of the Lenders to make or maintain LIBOR Rate Loans hereunder shall be suspended until Agent revokes such notice in writing. Upon receipt of such notice, the Borrower may revoke any Notice of Borrowing or Notice of
Conversion/Continuation then submitted by it. If the Borrower does not revoke such notice, the Lenders shall make, convert or continue the Loans, as proposed by the Borrower, in the amount specified in the applicable notice submitted by the
Borrower, but such Loans shall be made, converted or continued as Base Rate Loans. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.6 <U>Reserves on LIBOR Rate Loans</U>. The Borrower
shall pay to each Lender, as long as such Lender shall be required under regulations of the Federal Reserve Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
deposits (currently known as &#147;Eurocurrency liabilities&#148;), additional costs on the unpaid principal amount of each LIBOR Rate Loan equal to actual costs of such reserves allocated to
such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive absent manifest error), payable on each date on which interest is payable on such Loan provided the Borrower shall have received at least
fifteen (15)&nbsp;days&#146; prior written notice (with a copy to Agent) of such additional interest from the Lender. If a Lender fails to give notice fifteen (15)&nbsp;days prior to the relevant Interest Payment Date, such additional interest shall
be payable fifteen (15)&nbsp;days from receipt of such notice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.7 <U>Certificates of Lenders</U>. Any Lender claiming reimbursement or
compensation pursuant to this <U>Article X</U> shall deliver to the Borrower (with a copy to Agent) a certificate setting forth in reasonable detail the amount payable to such Lender hereunder and such certificate shall be conclusive and binding on
the Borrower in the absence of manifest error. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ARTICLE X. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DEFINITIONS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.1
<U>Defined Terms</U>. The following terms are defined in the Sections or Sections referenced opposite such terms: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="12%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Affected Lender&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.22</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Agent Report&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">7.5(c)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Aggregate Excess Funding Amount&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.10(e)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Agreement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Applicable Tax&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.10(e)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Assignment&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.9(c)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Borrower&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Borrower Materials&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.10(e)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Compliance Certificate&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.2(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;EBITDA&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Exhibit 4.2(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Eligible Accounts&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.11</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Eligible Assignee&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.9</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Eligible Inventory&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.12</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Event of Default&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">6.1</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Fee Letter&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.8(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Fixed Charges&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Exhibit&nbsp;4.2(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Fixed Charge Coverage Ratio&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Exhibit 4.2(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;GE Capital&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Holdings&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Recitals</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Incremental Effective Date&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(d)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Incremental Revolving Loan&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(d)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Incremental Revolving Loan Commitment&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(d)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Indemnified Matters&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.6</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Indemnitees&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.6</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Investments&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.4</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;L/C Reimbursement Agreement&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;L/C Reimbursement Date&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;L/C Request&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;L/C Sublimit&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Lender&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Preamble</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Letter of Credit Fee&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.8(c)</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="12%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Maximum Revolving Loan Balance&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Maximum Lawful Rate&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.3(d)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;MNPI&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.10(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Mortgage Policy&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.13(c)(iv)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Mortgage Supporting Documentation&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.13(c)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Mortgaged Property&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.13(c)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Notice of Conversion/Continuation&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.6(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;OFAC&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">3.28</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Other Taxes&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">10.1(c)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Overadvance&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Participant Register&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.9(h)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Permitted Liens&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.1</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Register&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.4(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Restricted Payments&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.10</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Replacement Lender&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.22</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Revolving Loan&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Revolving Loan Commitment&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Sale&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">8.9(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;SDN List&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">3.27</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Settlement Date&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.10(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swing Loan&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(c)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Swingline Request&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.1(c)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Tax Distributions&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">5.10(e)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Tax Returns&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">3.10</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Taxes&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">9.1(a)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Title Policy&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">4.13(c)(i)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Unfinanced Capital Expenditures&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Exhibit&nbsp;4.2(b)</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">&#147;Unused Commitment Fee&#148;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1.8(b)</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition to the terms defined elsewhere in this Agreement, the following terms have the following meanings:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AB No-Offset Period</U>&#148; means a period commencing on the date on which a no-offset agreement is entered into between
Anheuser-Busch and Agent, pursuant to which Anheuser-Busch agrees to waive its right of setoff with respect to Accounts for which the related Account Debtor is Anheuser-Busch, and subsequently ending on the 65<SUP
STYLE="font-size:85%; vertical-align:top">th</SUP> day following the first date on which newly arising Accounts for which the related Account Debtor is Anheuser-Busch are no longer subject to such no-offset agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Account</U>&#148; means, as at any date of determination, all &#147;accounts&#148; (as such term is defined in the UCC) of the Credit
Parties, including, without limitation, the unpaid portion of the obligation of a customer of a Credit Party in respect of Inventory purchased by and shipped to such customer and/or the rendition of services by a Credit Party, as stated on the
respective invoice of a Credit Party, net of any credits, rebates or offsets owed to such customer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Account Debtor</U>&#148;
means the customer of a Credit Party who is obligated on or under an Account. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquisition</U>&#148; means any transaction or
series of related transactions for the purpose of or resulting, directly or indirectly, in (a)&nbsp;the acquisition of all or substantially all of the assets of a Person, or of any business or division of a Person, (b)&nbsp;the acquisition of in
excess of fifty percent </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
(50%) of the Stock and Stock Equivalents of any Person or otherwise causing any Person to become a Subsidiary of the Borrower, or (c)&nbsp;a merger or consolidation or any other combination with
another Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Advance Agreement</U>&#148; means the Advance Extension Agreement, dated as of August&nbsp;21, 2012, between the
Borrower and Rexam, as amended by the Amendment to Advance Extension Agreement dated as of December&nbsp;11, 2013 and as may be further amended, restated, supplemented, otherwise modified, extended, renewed, replaced from time to time in accordance
with the terms of this Agreement and the Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AEMS</U>&#148; means Alabama Electric Motor Services, LLC, a
Delaware limited liability company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; means, with respect to any Person, each officer, director, general
partner or joint-venturer of such Person and any other Person that directly or indirectly controls, is controlled by, or is under common control with, such Person; provided, however, that no Secured Party shall be an Affiliate of any Credit Party or
of any Subsidiary of any Credit Party solely by reason of the provisions of the Loan Documents. For purposes of this definition, &#147;control&#148; means the possession of either (a)&nbsp;the power to vote, or the beneficial ownership of, 10% or
more of the voting Stock of such Person (either directly or through the ownership of Stock Equivalents) or (b)&nbsp;the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting
securities, by contract or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agent</U>&#148; means GE Capital in its capacity as administrative agent for the Lenders
hereunder, and any successor administrative agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Aggregate Revolving Loan Commitment</U>&#148; means the combined Revolving
Loan Commitments of the Lenders, which shall initially be in the amount of $320,000,000, as such amount may be reduced from time to time pursuant to this Agreement or increased as a result of Incremental Revolving Loan Commitments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Anheuser-Busch</U>&#148; means Anheuser-Busch, LLC and its successors and assigns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Anheuser Busch Agreement</U>&#148; means the Aluminum Can Sheet Supply Agreement, dated as of October&nbsp;1, 2012, between the
Borrower and Anheuser-Busch, as amended, restated, supplemented or otherwise modified, renewed or replaced from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Margin</U>&#148; means: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) for the period commencing on the Closing Date until Agent&#146;s receipt of the first Borrowing Base Certificate after completion of the
first full Fiscal Quarter following the Closing Date: (i)&nbsp;with respect to Base Rate Loans, one percent (1%)&nbsp;per annum and (ii)&nbsp;with respect to LIBOR Rate Loans, two percent (2%)&nbsp;per annum; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) thereafter, the Applicable Margin shall equal the applicable LIBOR margin or Base Rate margin in effect from time to time determined as
set forth below based upon the Average Excess Availability for the immediately preceding Fiscal Quarter pursuant to the appropriate column under the table below: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="70%"></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="12%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:91.40pt; font-size:8pt; font-family:Times New Roman">Average Excess Availability</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">LIBOR&nbsp;Margin</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Base&nbsp;Rate&nbsp;Margin</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Less than or equal to $40,000,000</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Greater than $40,000,000 but less than or equal to $70,000,000</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD>
<TD HEIGHT="8" COLSPAN="4"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Greater than $70,000,000</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Applicable Margin shall be adjusted from time to time upon delivery to Agent of the Borrowing Base
Certificate for the last calendar month or, at any time required to be delivered weekly, the last calendar week of the most recently-ended Fiscal Quarter, accompanied by a written calculation of the Average Excess Availability for the such Fiscal
Quarter certified by a Responsible Officer of the Borrower. If such calculation indicates that the Applicable Margin shall increase or decrease, then, on the first day of the first calendar month after the date of delivery of such Borrowing Base
Certificate and written calculation, the Applicable Margin shall be adjusted in accordance therewith; <U>provided</U>, <U>however</U>, that if (x)&nbsp;an Event of Default has occurred and is continuing or (y)&nbsp;the Borrower shall fail to deliver
a Borrowing Base Certificate for the last calendar month or week, as applicable, of any Fiscal Quarter by the date required pursuant to <U>Section&nbsp;4.2</U>, then, at Agent&#146;s election, effective as of the date of which the applicable Event
of Default occurs or as of the first day of the calendar month following the end of applicable Fiscal Quarter, as the case may be, and continuing through the date, if any, on which such Event of Default ceases to exist or the first date of the
calendar month following the date on which the Borrowing Base Certificate and such written calculation for the applicable calendar month or week are delivered, as the case may be, the Applicable Margin shall be conclusively presumed to equal the
highest Applicable Margin specified in the pricing table set forth above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In the event that any Borrowing Base Certificate delivered pursuant to
<U>Section&nbsp;4.2</U> is inaccurate, and such inaccuracy, if corrected, would have led to the imposition of a higher Applicable Margin for any period than the Applicable Margin applied for that period, then (i)&nbsp;the Borrower shall immediately
deliver to Agent a corrected Borrowing Base Certificate for that period, (ii)&nbsp;the Applicable Margin shall be determined based on the corrected Borrowing Base Certificate for that period, and (iii)&nbsp;the Borrower shall immediately pay to
Agent (for the account of the Lenders that hold the Revolving Loan Commitments and Loans at the time such payment is received, regardless of whether those Lenders held the Revolving Loan Commitments and Loans during the relevant period) the accrued
additional interest owing as a result of such increased Applicable Margin for that period. This paragraph shall not limit the rights of Agent or the Lenders with respect to <U>Section&nbsp;1.3(c)</U> and <U>Article VI</U> hereof, and shall survive
the termination of this Agreement until the payment in full in cash of the aggregate outstanding principal balance of the Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Approved Fund</U>&#148; means, with respect to any Lender, any Person (other than a natural Person) that (a)&nbsp;(i)&nbsp;is or will
be engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the Ordinary Course of Business or (ii)&nbsp;temporarily warehouses loans for any Lender or any Person described in <U>clause
(i)</U>&nbsp;above and (b)&nbsp;is advised or managed by (i)&nbsp;such Lender, (ii)&nbsp;any Affiliate of such Lender or (iii)&nbsp;any Person (other than an individual) or any Affiliate of any Person (other than an individual) that administers or
manages such Lender. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Attorney Costs</U>&#148; means and includes all reasonable fees and disbursements of any law firm or other
external counsel. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Availability</U>&#148; means, as of any date of determination, the amount by which
(a)&nbsp;the Maximum Revolving Loan Balance exceeds (b)&nbsp;the aggregate outstanding principal balance of Revolving Loans. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Average Excess Availability</U>&#148; means, with respect to any Fiscal Quarter, an amount equal to the average daily balance of the
average daily Availability during such Fiscal Quarter. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bank Products Obligations</U>&#148; of the Credit Parties means any and
all obligations of the Credit Parties, whether absolute or contingent and howsoever and whensoever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor) in connection with
Secured Bank Products. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bank Products</U>&#148; means each and any of the following bank services provided to any Credit Party by
any Lender or any of its Affiliates: (a)&nbsp;credit cards for commercial customers (including, without limitation, &#147;commercial credit cards&#148; and purchasing cards), (b)&nbsp;stored value cards, (c)&nbsp;merchant processing services,
(d)&nbsp;treasury management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts, e-payables, foreign currency exchange and interstate depository network services), and
(e)&nbsp;Lease Financing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bankruptcy Code</U>&#148; means the Federal Bankruptcy Reform Act of 1978. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Base Rate</U>&#148; means, for any day, a rate per annum equal to the highest of (a)&nbsp;the rate last quoted by <U>The Wall Street
Journal</U> as the &#147;Prime Rate&#148; in the United States or, if <U>The Wall Street Journal</U> ceases to quote such rate, the highest per annum interest rate published by the Federal Reserve Board in Federal Reserve Statistical Release H.15
(519)&nbsp;(Selected Interest Rates) as the &#147;bank prime loan&#148; rate or, if such rate is no longer quoted therein, any similar rate quoted therein (as determined by Agent) or any similar release by the Federal Reserve Board (as determined by
Agent), (b)&nbsp;the sum of 0.50%&nbsp;per annum and the Federal Funds Rate, and (c)&nbsp;the sum of (x)&nbsp;LIBOR calculated for each such day based on an Interest Period of one month determined two (2)&nbsp;Business Days prior to such day, plus
(y)&nbsp;1.00%&nbsp;per annum. Any change in the Base Rate due to a change in any of the foregoing shall be effective on the effective date of such change in the Federal Funds Rate or LIBOR for an Interest Period of one month. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Base Rate Loan</U>&#148; means a Loan that bears interest based on the Base Rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Benefit Plan</U>&#148; means any employee benefit plan as defined in Section&nbsp;3(3) of ERISA (whether governed by the laws of the
United States or otherwise) to which any Credit Party incurs or otherwise has any obligation or liability, contingent or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing</U>&#148; means a borrowing hereunder consisting of Loans made to or for the benefit of the Borrower on the same day by the
Lenders pursuant to <U>Article I</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing Base</U>&#148; means, as of any date of determination by Agent, from time to
time, an amount equal to the sum at such time of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) an amount equal to (i)&nbsp;85% of the net book value of Eligible Accounts (other
than Eligible Foreign Accounts) at such time (or, in the case of Eligible Accounts as to which the related Account Debtor is Anheuser-Busch or Coca-Cola, 90% of the net book value of such Eligible Accounts at such time), <U>plus</U> (ii)&nbsp;the
lesser of (x)&nbsp;85% of the net book value of Eligible Foreign Accounts at such time and (y)&nbsp;$12,500,000, <U>minus</U> (iii)&nbsp;the Listerhill/AEMS Excess A/R Amount; <U>plus</U> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the lesser of (i)&nbsp;75% of the net book value of Eligible Inventory at such time valued at
the lower of cost or market on a first-in, first-out basis and (ii)&nbsp;85% of the net book value of Eligible Inventory at such time valued at the lower of cost or market on a first-in, first-out basis, <U>multiplied by</U> the NOLV Factor;
<U>plus</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the least of (i)&nbsp;5% of the net book value of Eligible Inventory at such time valued at the lower of cost or market
on a first-in, first-out basis, (ii)&nbsp;5% of the net book value of Eligible Inventory at such time valued at the lower of cost or market on a first-in, first-out basis, <U>multiplied by</U> the NOLV Factor and (iii)&nbsp;$10,000,000, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">in each case, <U>less</U> Reserves established by Agent at such time in its Permitted Discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing Base Certificate</U>&#148; means a certificate of the Borrower in substantially the form of <U>Exhibit 11.1(b)</U> hereto,
duly completed as of each date and at such times required under <U>Section&nbsp;4.2(d)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Day</U>&#148; means any day
that is not a Saturday, Sunday or a day on which banks are required or authorized to close in New York City and, when determined in connection with notices and determinations in respect of LIBOR or any LIBOR Rate Loan or any funding, conversion,
continuation, Interest Period or payment of any LIBOR Rate Loan, that is also a day on which dealings in Dollar deposits are carried on in the London interbank market. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital Adequacy Regulation</U>&#148; means any guideline, request or directive of any central bank or other Governmental Authority,
or any other law, rule or regulation, whether or not having the force of law, in each case, regarding capital adequacy of any Lender or of any corporation controlling a Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital Lease</U>&#148; means, with respect to any Person, any lease of, or other arrangement conveying the right to use, any
Property by such Person as lessee that has been or should be accounted for as a capital lease on a balance sheet of such Person prepared in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital Lease Obligations</U>&#148; means, at any time, with respect to any Capital Lease, any lease entered into as part of any sale
leaseback transaction of any Person or any synthetic lease, the amount of all obligations of such Person that is (or that would be, if such synthetic lease or other lease were accounted for as a Capital Lease) capitalized on a balance sheet of such
Person prepared in accordance with GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Cash Equivalents</U>&#148; means (a)&nbsp;any readily-marketable securities
(i)&nbsp;issued by, or directly, unconditionally and fully guarantied or insured by the United States federal government or (ii)&nbsp;issued by any agency of the United States federal government the obligations of which are fully backed by the full
faith and credit of the United States federal government, (b)&nbsp;any readily-marketable direct obligations issued by any other agency of the United States federal government, any state of the United States or any political subdivision of any such
state or any public instrumentality thereof, in each case having a rating of at least &#147;A-1&#148; from S&amp;P or at least &#147;P-1&#148; from Moody&#146;s, (c)&nbsp;any commercial paper rated at least &#147;<U>A-1</U>&#148; by S&amp;P or
&#147;<U>P-1</U>&#148; by Moody&#146;s and issued by any Person organized under the laws of any state of the United States, (d)&nbsp;any Dollar-denominated time deposit, insured certificate of deposit, overnight bank deposit or bankers&#146;
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
acceptance issued or accepted by (i)&nbsp;any Lender or (ii)&nbsp;any commercial bank that is (A)&nbsp;organized under the laws of the United States, any state thereof or the District of
Columbia, (B)&nbsp;&#147;adequately capitalized&#148; (as defined in the regulations of its primary federal banking regulators) and (C)&nbsp;has Tier 1 capital (as defined in such regulations) in excess of $250,000,000 and (e)&nbsp;shares of any
United States money market fund that (i)&nbsp;has substantially all of its assets invested continuously in the types of investments referred to in <U>clause (a)</U>, <U>(b)</U>, <U>(c)</U>&nbsp;or <U>(d)</U>&nbsp;above with maturities as set forth
in the proviso below, (ii)&nbsp;has net assets in excess of $500,000,000 and (iii)&nbsp;has obtained from either S&amp;P or Moody&#146;s the highest rating obtainable for money market funds in the United States; provided, however, that the
maturities of all obligations specified in any of <U>clauses (a)</U>, <U>(b)</U>, <U>(c)</U>&nbsp;or <U>(d)</U>&nbsp;above shall not exceed 365 days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; means December&nbsp;11, 2013. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Coca-Cola</U>&#148; means Coca-Cola Bottlers&#146; Sales and Services Company LLC, a Delaware limited liability company, and its
successors and assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Coca-Cola Agreement</U>&#148; means the Aluminum Can Stock Tolling Agreement, dated as of
December&nbsp;23, 2009, between the Borrower and Coca-Cola, as amended, restated, supplemented or otherwise modified, renewed or replaced from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Code</U>&#148; means the Internal Revenue Code of 1986. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collateral</U>&#148; means all Property and interests in Property and proceeds thereof now owned or hereafter acquired by any Credit
Party, any of their respective Restricted Subsidiaries and any other Person who has granted a Lien to Agent, in or upon which a Lien is granted or purported to be granted or now or hereafter exists in favor of any Lender or Agent for the benefit of
Agent, Lenders and other Secured Parties, whether under this Agreement or under any other documents executed by any such Persons and delivered to Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collateral Documents</U>&#148; means, collectively, the Guaranty and Security Agreement, the Mortgages, each Control Agreement, and
all other security agreements, pledge agreements, patent and trademark security agreements, lease assignments, guaranties and other similar agreements, and all amendments, restatements, modifications or supplements thereof or thereto, by or between
any one or more of any Credit Party, any of their respective Restricted Subsidiaries or any other Person pledging or granting a lien on Collateral or guaranteeing the payment and performance of the Obligations, and any Lender or Agent for the
benefit of Agent, the Lenders and other Secured Parties now or hereafter delivered to the Lenders or Agent pursuant to or in connection with the transactions contemplated hereby, and all financing statements (or comparable documents now or hereafter
filed in accordance with the UCC or comparable law) against any such Person as debtor in favor of any Lender or Agent for the benefit of Agent, the Lenders and the other Secured Parties, as secured party, as any of the foregoing may be amended,
restated and/or modified from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commitment Percentage</U>&#148; means, as to any Lender, the percentage equivalent
of such Lender&#146;s Revolving Loan Commitment divided by the Aggregate Revolving Loan Commitment; <U>provided</U> that following acceleration of the Loans, such term means, as to any Lender, the percentage equivalent of the principal amount of the
Loans held by such Lender, divided by the aggregate principal amount of the Loans held by all Lenders. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Connection Income Taxes</U>&#148; means Other Connection Taxes that are imposed on or
measured by net income (however denominated) or that are franchise Taxes or branch profit Taxes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contingent Obligation</U>&#148;
means, as to any Person, any direct or indirect liability, contingent or otherwise, of that Person: (a)&nbsp;with respect to any Indebtedness, lease, dividend or other obligation of another Person if the primary purpose or intent of the Person
incurring such liability, or the primary effect thereof, is to provide assurance to the obligee of such liability that such liability will be paid or discharged, or that any agreements relating thereto will be complied with, or that the holders of
such liability will be protected (in whole or in part) against loss with respect thereto; (b)&nbsp;with respect to any letter of credit issued for the account of that Person or as to which that Person is otherwise liable for reimbursement of
drawings; (c)&nbsp;under any Rate Contracts; (d)&nbsp;to make take-or-pay or similar payments if required regardless of nonperformance by any other party or parties to an agreement; or (e)&nbsp;for the obligations of another Person through any
agreement to purchase, repurchase or otherwise acquire such obligation or any Property constituting security therefor, to provide funds for the payment or discharge of such obligation or to maintain the solvency, financial condition or any balance
sheet item or level of income of another Person. The amount of any Contingent Obligation shall be equal to the amount of the obligation so guarantied or otherwise supported or, if not a fixed and determined amount, the maximum amount so guarantied
or supported. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contractual Obligations</U>&#148; means, as to any Person, any provision of any security (whether in the nature of
Stock, Stock Equivalents or otherwise) issued by such Person or of any agreement, undertaking, contract, indenture, mortgage, deed of trust or other instrument, document or agreement (other than a Loan Document) to which such Person is a party or by
which it or any of its Property is bound or to which any of its Property is subject. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Control Agreement</U>&#148; means, with
respect to any deposit account, securities account, commodity account, securities entitlement or commodity contract, an agreement, in form and substance satisfactory to Agent, among Agent, the financial institution or other Person at which such
account is maintained or with which such entitlement or contract is carried and the Credit Party maintaining such account or owning such entitlement or contract, effective to grant &#147;control&#148; (within the meaning of Articles 8 and 9 under
the applicable UCC) over such account to Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Conversion Date</U>&#148; means any date on which the Borrower converts a Base
Rate Loan to a LIBOR Rate Loan or a LIBOR Rate Loan to a Base Rate Loan. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Copyrights</U>&#148; means all rights, title and
interests (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to copyrights and all mask work, database and design rights, whether or not registered or published, all registrations and recordations thereof and
all applications in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credit Parties</U>&#148; means Holdings, the Borrower and each other Person
(i)&nbsp;which executes a guaranty of the Obligations, (ii)&nbsp;which grants a Lien on all or substantially all of its assets to secure payment of the Obligations and (iii)&nbsp;all of the Stock of which is pledged to Agent for the benefit of the
Secured Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Crown</U>&#148; means Crown Holdings, Inc., a Pennsylvania corporation, and its successors and assigns. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Default</U>&#148; means any event or circumstance that, with the passing of time or the
giving of notice or both, would (if not cured or otherwise remedied during such time) become an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disqualified
Stock</U>&#148; means any Stock or Stock Equivalent which, by its terms (or by the terms of any security or other Stock into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition, (a)&nbsp;matures
or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is ninety-one (91)&nbsp;days following the final maturity date
of the Senior Notes (excluding any provisions requiring redemption upon a &#147;change of control&#148; or similar event; provided that such &#147;change of control&#148; or similar event results in the prior payment in full in cash of the
Obligations (other than contingent indemnification obligations to the extent no claim giving rise thereto has been asserted), the termination of all commitments to lend hereunder and the termination of this Agreement), (b)&nbsp;is convertible into
or exchangeable for (i)&nbsp;debt securities or (ii)&nbsp;any Stock or Stock Equivalents referred to in <U>clause&nbsp;(a)</U> above, in each case, at any time on or prior to the date that is ninety-one (91)&nbsp;days following the final maturity
date of the Senior Notes, or (c)&nbsp;is entitled to receive scheduled dividends or distributions in cash prior to the time that the Obligations (other than contingent indemnification obligations to the extent no claim giving rise thereto has been
asserted) are paid in full in cash. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disposition</U>&#148; means (a)&nbsp;the sale, lease, conveyance or other disposition of
Property, other than sales or other dispositions expressly permitted under <U>Sections 5.2(a)</U>, <U>5.2(c)</U> and <U>5.2(d)</U>, and (b)&nbsp;the sale or transfer by Holdings or any Restricted Subsidiary of any Stock or Stock Equivalent issued by
any Restricted Subsidiary and held by such transferor Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dollars</U>&#148;, &#147;<U>dollars</U>&#148; and
&#147;<U>$</U>&#148; each mean the lawful money of the United States of America. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dominion Period</U>&#148; means any period
(a)&nbsp;commencing on the date on which (i)&nbsp;an Event of Default has occurred and is continuing or (ii)&nbsp;Availability as of any date is less than the greater of $40,000,000 and 12.5% of the Aggregate Revolving Loan Commitment and
(b)&nbsp;ending on the first subsequent date on which (i)&nbsp;no Event of Default exists and (ii)&nbsp;Availability shall have been at least equal to the greater of $40,000,000 and 12.5% of the Aggregate Revolving Loan Commitment for a period of 30
consecutive calendar days. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Electronic Transmission</U>&#148; means each document, instruction, authorization, file, information
and any other communication transmitted, posted or otherwise made or communicated by e-mail or E-Fax, or otherwise to or from an E-System. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible Foreign Account</U>&#148; means an Account of the Borrower, Listerhill or AEMS with respect to which an Eligible Foreign
Account Debtor is the Account Debtor and that would constitute an Eligible Account but for <U>clause (c)</U>&nbsp;of <U>Section&nbsp;1.11</U> (without giving effect to clause (ii)&nbsp;thereof), so long as such Account satisfies each of the
following criteria: (i)&nbsp;such Account is at all times billed and payable in Dollars, (ii)&nbsp;all payments in respect of such Account are made by such Eligible Foreign Account Debtor to the Borrower, Listerhill or AEMS, as applicable, in the
United States or to an account located in the United States that is subject to a Control Agreement and (iii)&nbsp;such Account is subject to a first priority valid and perfected security interest of Agent in the United States; <U>provided</U> that
the Borrower, Listerhill or AEMS, as applicable, shall, promptly upon request of Agent, execute and deliver, or cause to be executed and delivered to Agent such agreements, documents and instruments as may be required by Agent to perfect the
security interest of Agent in such Account in accordance with the applicable laws of the jurisdiction of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
formation of such Eligible Account Debtor and take, or cause to be taken, such other and further actions as Agent may request to enable Agent, as secured party with respect thereto, to collect
such Account under the applicable laws of such jurisdiction of formation. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible Foreign Account Debtors</U>&#148; means
Persons designated by Agent as &#147;Eligible Foreign Account Debtors&#148; from time to time in its Permitted Discretion, which Persons shall initially be (i)&nbsp;the foreign Affiliates of Coca-Cola, (ii)&nbsp;the foreign Affiliates of Rexam and
(iii)&nbsp;the foreign Affiliates of Crown (including NAFCEL). For purposes of clarity, Agent may from time to time in its Permitted Discretion remove such designation with respect to any Person that was previously designated as an &#147;Eligible
Foreign Account Debtor,&#148; after which time such Person shall no longer constitute an &#147;Eligible Foreign Account Debtor&#148; (unless Agent subsequently redesignates such Person as an &#147;Eligible Foreign Account Debtor&#148; in its
Permitted Discretion). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible In-Transit Inventory</U>&#148; means all raw materials and finished goods Inventory owned by a
Credit Party, which Inventory is in transit in the United States and (a)&nbsp;has been paid for by such Credit Party, (b)&nbsp;is fully insured, (c)&nbsp;is subject to a first priority perfected security interest in and lien upon such goods in favor
of Agent (except for any possessory lien upon such goods in the possession of a freight carrier or shipping company securing only the freight charges for the transportation of such goods) and (d)&nbsp;is evidenced or deliverable pursuant to
Documents that have been delivered to Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Environmental Laws</U>&#148; means all Requirements of Law and Permits imposing
liability or standards of conduct for or relating to the regulation and protection of human health, safety, the workplace, the environment and natural resources, and including public notification requirements and environmental transfer of ownership,
notification or approval statutes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Environmental Liabilities</U>&#148; means all Liabilities (including costs of Remedial
Actions, natural resource damages and costs and expenses of investigation and feasibility studies, including the cost of environmental consultants and the cost of attorney&#146;s fees) that may be imposed on, incurred by or asserted against any
Credit Party or any Restricted Subsidiary of any Credit Party as a result of, or related to, any claim, suit, action, investigation, proceeding or demand by any Person, whether based in contract, tort, implied or express warranty, strict liability,
criminal or civil statute or common law or otherwise, arising under any Environmental Law or in connection with any environmental, health or safety condition or with any Release and resulting from the ownership, lease, sublease or other operation or
occupation of property by any Credit Party or any Restricted Subsidiary of any Credit Party, whether on, prior or after the date hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Equipment</U>&#148; means all &#147;equipment,&#148; as such term is defined in the UCC, now owned or hereafter acquired by any
Credit Party, wherever located. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA</U>&#148; means the Employee Retirement Income Security Act of 1974. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA Affiliate</U>&#148; means, collectively, any Credit Party and any Person under common control or treated as a single employer
with, any Credit Party, within the meaning of Section&nbsp;414(b), (c), (m)&nbsp;or (o)&nbsp;of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>ERISA Event</U>&#148;
means any of the following: (a)&nbsp;a reportable event described in Section&nbsp;4043(b) of ERISA (or, unless the 30-day notice requirement has been duly waived under the applicable regulations, Section&nbsp;4043(c) of ERISA) with respect to a
Title IV Plan; (b)&nbsp;the withdrawal of any ERISA Affiliate from a Title IV Plan subject to Section&nbsp;4063 of ERISA during </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
a plan year in which it was a substantial employer, as defined in Section&nbsp;4001(a)(2) of ERISA; (c)&nbsp;the complete or partial withdrawal of any ERISA Affiliate from any Multiemployer Plan;
(d)&nbsp;with respect to any Multiemployer Plan, the filing of a notice of reorganization, insolvency or termination (or treatment of a plan amendment as termination) under Section&nbsp;4041A of ERISA; (e)&nbsp;the filing of a notice of intent to
terminate a Title IV Plan (or treatment of a plan amendment as termination) under Section&nbsp;4041 of ERISA; (f)&nbsp;the institution of proceedings to terminate a Title IV Plan or Multiemployer Plan by the PBGC; (g)&nbsp;the failure to make any
required contribution to any Title IV Plan or Multiemployer Plan when due; (h)&nbsp;the imposition of a Lien under Section&nbsp;412 or 430(k) of the Code or Section&nbsp;303 or 4068 of ERISA on any property (or rights to property, whether real or
personal) of any ERISA Affiliate; (i)&nbsp;the failure of a Benefit Plan or any trust thereunder intended to qualify for tax exempt status under Section&nbsp;401 or 501 of the Code or other Requirements of Law to qualify thereunder; (j)&nbsp;a Title
IV plan is in &#147;at risk&#148; status within the meaning of Code Section&nbsp;430(i); (k)&nbsp;a Multiemployer Plan is in &#147;endangered status&#148; or &#147;critical status&#148; within the meaning of Section&nbsp;432(b) of the Code; and
(l)&nbsp;any other event or condition that might reasonably be expected to constitute grounds under Section&nbsp;4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Title IV Plan or Multiemployer Plan or for the
imposition of any material liability upon any ERISA Affiliate under Title IV of ERISA other than for PBGC premiums due but not delinquent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Event of Loss</U>&#148; means, with respect to any Property, any of the following: (a)&nbsp;any loss, destruction or damage of such
Property; or (b)&nbsp;any condemnation, seizure or taking, by exercise of the power of eminent domain or otherwise, of such Property, or confiscation of such Property or the requisition of the use of such Property. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Equity Issuance</U>&#148; means an issuance of Stock or Stock Equivalents (other than Disqualified Stock) by a Credit Party.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Rate Contract Obligation</U>&#148; means, with respect to any Guarantor, any guarantee of any Swap Obligations under a
Secured Rate Contract if, and only to the extent that and for so long as, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation under a Secured Rate Contract (or
any guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such
Guarantor&#146;s failure for any reason to constitute an &#147;eligible contract participant&#148; as defined in the Commodity Exchange Act at the time the guarantee of such Guarantor or the grant of such security interest becomes effective with
respect to such Swap Obligation under a Secured Rate Contract. If a Swap Obligation under a Secured Rate Contract arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Swap Obligation
under a Secured Rate Contract that is attributable to swaps for which such guarantee or security interest is or becomes illegal. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Subsidiary</U>&#148; means (a)&nbsp;any Subsidiary that is a controlled foreign corporation (as defined in the Code, a
&#147;<U>CFC</U>&#148;), (b)&nbsp;any Subsidiary of a CFC, (c)&nbsp;any Subsidiary substantially all of whose assets consist (directly or indirectly through its Subsidiaries) of Stock in one or more CFCs. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Tax</U>&#148; means with respect to any Secured Party: (a)&nbsp;Taxes measured by net income (including branch profit Taxes)
and franchise Taxes imposed in lieu of net income Taxes, in each case (i)&nbsp;imposed on any Secured Party as a result of being organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office
located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii)&nbsp;that are Other </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Connection Taxes; (b)&nbsp;withholding Taxes to the extent that the obligation to withhold amounts existed on the date that such Person became a Secured Party under this Agreement in the capacity
under which such Person makes a claim under <U>Section&nbsp;9.1(b)</U> or designates a new Lending Office, except in each case to the extent such Person is a direct or indirect assignee (other than pursuant to <U>Section&nbsp;8.22</U>) of any other
Secured Party that was entitled, at the time the assignment to such Person became effective, to receive additional amounts under <U>Section&nbsp;9.1(b)</U>; (c)&nbsp;Taxes that are directly attributable to the failure (other than as a result of a
change in any Requirement of Law) by any Secured Party to deliver the documentation required to be delivered pursuant to <U>Section&nbsp;9.1(g)</U>; and (d)&nbsp;any United States federal withholding Taxes imposed under FATCA. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Existing Letters of Credit</U>&#148; means those Letters of Credit issued and outstanding as of the Closing Date and set forth on
<U>Schedule 1.1(b)</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Existing Revolving Credit Agreement</U>&#148; means the Second Amended and Restated Loan Agreement dated
as of November&nbsp;16, 2010, by and among the Borrower, Holdings and certain other Subsidiaries of Holdings, the financial institutions party thereto as lenders and Wells Fargo Bank, National Association, as administrative agent, as amended,
restated, supplemented or otherwise modified prior to the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Existing Term Loan Credit Agreement</U>&#148; means the
Credit and Security Agreement dated as of November&nbsp;16, 2010, by and among the Borrower, Holdings and certain other Subsidiaries of Holdings, The Employees&#146; Retirement System of Alabama, The Teachers&#146; Retirement System of Alabama and
the other financial institutions from time to time party thereto as lenders, as amended, restated, supplemented or otherwise modified prior to the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>E-Fax</U>&#148; means any system used to receive or transmit faxes electronically. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>E-Signature</U>&#148; means the process of attaching to or logically associating with an Electronic Transmission an electronic
symbol, encryption, digital signature or process (including the name or an abbreviation of the name of the party transmitting the Electronic Transmission) with the intent to sign, authenticate or accept such Electronic Transmission. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>E-System</U>&#148; means any electronic system approved by Agent, including SyndTrak&reg;, IntraLinks&reg; and ClearPar&reg; and any
other Internet or extranet-based site, whether such electronic system is owned, operated or hosted by Agent, any of its Related Persons or any other Person, providing for access to data protected by passcodes or other security system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Facility Termination Date</U>&#148; means the date on which (A)&nbsp;the Revolving Loan Commitments have terminated, (B)&nbsp;all
Loans, all L/C Reimbursement Obligations and all other Obligations under the Loan Documents, all Bank Product Obligations and all Obligations arising under Secured Rate Contracts, that Agent has theretofore been notified in writing by the holder of
such Obligation are then due and payable, have been paid in full in cash, (C)&nbsp;there shall have been deposited cash collateral with respect to all contingent Obligations (or, as an alternative to cash collateral in the case of any Letter of
Credit Obligation, Agent shall have received of a back-up letter of credit issued by an issuer acceptable to Agent), in amounts (or, in the case of Letter of Credit Obligations, in an amount equal to 105% of such amount) and on terms and conditions
and with parties satisfactory to Agent and each Indemnitee that is, or may be, owed such Obligations (excluding contingent Obligations (other than L/C Reimbursement Obligations) as to which no claim has been asserted) and (D)&nbsp;to the extent
requested by Agent, Agent and the Secured Parties shall have received liability releases from the Credit Parties each in form and substance acceptable to Agent </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FATCA</U>&#148; means Sections 1471, 1472, 1473 and 1474 of the Code, as of the date of
this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with), current or future United States Treasury Regulations promulgated thereunder and published guidance with respect
thereto, and any agreements entered into pursuant to Section&nbsp;1471(b)(1) of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Federal Flood Insurance</U>&#148;
means federally backed Flood Insurance available under the National Flood Insurance Program to owners of real property improvements located in Special Flood Hazard Areas in a community participating in the National Flood Insurance Program. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Federal Funds Rate</U>&#148; means, for any period, a fluctuating interest rate per annum equal for each day during such period to
the weighted average of the rates on overnight federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as determined by Agent in a commercially reasonable manner. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Federal Reserve Board</U>&#148; means the Board of Governors of the Federal Reserve System, or any entity succeeding to any of its
principal functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FEMA</U>&#148; means the Federal Emergency Management Agency, a component of the U.S. Department of
Homeland Security that administers the National Flood Insurance Program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Final Availability Date</U>&#148; means the earlier of
the Revolving Termination Date and one (1)&nbsp;Business Day prior to the date specified in <U>clause (a)</U>&nbsp;of the definition of Revolving Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>FIRREA</U>&#148; means the Financial Institutions Reform, Recovery and Enforcement Act of 1989. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fiscal Quarter</U>&#148; means any of the quarterly accounting periods of Holdings ending on March, June, September and December of
each year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fiscal Year</U>&#148; means any of the annual accounting periods of Holdings ending on December&nbsp;31 of each year.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Flood Insurance</U>&#148; means, for any Real Estate located in a Special Flood Hazard Area, Federal Flood Insurance or private
insurance reasonably satisfactory to Agent, in either case, that (a)&nbsp;meets the requirements set forth by FEMA in its <I>Mandatory Purchase of Flood Insurance Guidelines</I>, (b)&nbsp;shall include a deductible not to exceed $50,000 and
(c)&nbsp;shall have a coverage amount equal to the lesser of (i)&nbsp;the &#147;replacement cost value&#148; of the buildings and any personal property Collateral located on the Real Estate as determined under the National Flood Insurance Program or
(ii)&nbsp;the maximum policy limits set under the National Flood Insurance Program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted
accounting principles in the United States of America, as in effect from time to time, set forth in the opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants, in the statements and
pronouncements of the Financial Accounting Standards Board (or agencies with similar functions and comparable stature and authority within the accounting profession) that are applicable to the circumstances as of the date of determination. Subject
to <U>Section&nbsp;10.3</U>, all references to &#147;GAAP&#148; shall be to GAAP applied consistently with the principles used in the preparation of the financial statements described in <U>Section&nbsp;3.11(a)</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Governmental Authority</U>&#148; means any nation, sovereign or government, any state or
other political subdivision thereof, any agency, authority or instrumentality thereof and any entity or authority exercising executive, legislative, taxing, judicial, regulatory or administrative functions of or pertaining to government, including
any central bank, stock exchange, regulatory body, arbitrator, public sector entity, supra-national entity (including the European Union and the European Central Bank) and any self-regulatory organization (including the National Association of
Insurance Commissioners). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantor</U>&#148; means Holdings, each Restricted Subsidiary (other than the Borrower) and each
other Person that has guaranteed any Obligations. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guaranty and Security Agreement</U>&#148; means that certain Guaranty and
Security Agreement, dated as of even date herewith, in form and substance reasonably acceptable to Agent and the Borrower, made by the Credit Parties in favor of Agent, for the benefit of the Secured Parties, as the same may be amended, restated
and/or modified from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hazardous Material</U>&#148; means any substance, material or waste that is classified,
regulated or otherwise characterized under any Environmental Law as hazardous, toxic, a contaminant or a pollutant or by other words of similar meaning or regulatory effect, including, without limitation, petroleum or any fraction thereof, asbestos,
polychlorinated biphenyls and radioactive substances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Impacted Lender</U>&#148; means any Lender that fails to provide Agent,
within three (3)&nbsp;Business Days following Agent&#146;s written request, satisfactory assurance that such Lender will not become a Non-Funding Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indebtedness</U>&#148; of any Person means, without duplication: (a)&nbsp;all indebtedness for borrowed money; (b)&nbsp;all
obligations issued, undertaken or assumed as the deferred purchase price of Property or services (other than trade payables entered into in the Ordinary Course of Business); (c)&nbsp;the face amount of all letters of credit issued for the account of
such Person and without duplication, all drafts drawn thereunder and all reimbursement or payment obligations with respect to letters of credit, surety bonds and other similar instruments issued by such Person; (d)&nbsp;all obligations evidenced by
notes, bonds, debentures or similar instruments, including obligations so evidenced incurred in connection with the acquisition of Property, assets or businesses; (e)&nbsp;all indebtedness created or arising under any conditional sale or other title
retention agreement, or incurred as financing, in either case with respect to Property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or
sale of such Property); (f)&nbsp;all Capital Lease Obligations; (g)&nbsp;the principal balance outstanding under any synthetic lease, off-balance sheet loan or similar off balance sheet financing product; (h)&nbsp;all obligations of such Person,
whether or not contingent, in respect of Disqualified Stock, valued at, in the case of redeemable preferred Stock, the greater of the voluntary liquidation preference and the involuntary liquidation preference of such Stock plus accrued and unpaid
dividends; (i)&nbsp;all indebtedness referred to in <U>clauses (a)</U>&nbsp;through <U>(h)</U>&nbsp;above secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien upon or in
Property (including accounts and contracts rights) owned by such Person, even though such Person has not assumed or become liable for the payment of such indebtedness; and (j)&nbsp;all Contingent Obligations described in <U>clause (a)</U>&nbsp;of
the definition thereof in respect of indebtedness or obligations of others of the kinds referred to in <U>clauses (a)</U>&nbsp;through <U>(i)</U>&nbsp;above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnified Tax</U>&#148; means (a)&nbsp;any Tax other than an Excluded Tax and (b)&nbsp;to the extent not otherwise described in
<U>clause (a)</U>, Other Taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Insolvency Proceeding</U>&#148; means (a)&nbsp;any case, action or proceeding before any
court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (b)&nbsp;any general assignment for the benefit of creditors, composition,
marshaling of assets for creditors, or other, similar arrangement in respect of its creditors generally or any substantial portion of its creditors; in each case in (a)&nbsp;and (b)&nbsp;above, undertaken under U.S. federal, state or foreign law,
including the Bankruptcy Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intellectual Property</U>&#148; means all rights, title and interests in or relating to
intellectual property and industrial property arising under any Requirement of Law and all IP Ancillary Rights relating thereto, including all Copyrights, Patents, Software, Trademarks, Internet Domain Names, Trade Secrets and IP Licenses. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intercreditor Agreement</U>&#148; means the Intercreditor Agreement dated as of the Closing Date, among Agent, Wells Fargo Bank,
National Association, as Noteholder Collateral Agent, and Rexam, and acknowledged and agreed to by the Credit Parties, as amended, restated, supplemented or otherwise modified from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Payment Date</U>&#148; means, (a)&nbsp;with respect to any LIBOR Rate Loan (other than a LIBOR Rate Loan having an Interest
Period of six (6)&nbsp;months), the last day of each Interest Period applicable to such Loan, (b)&nbsp;with respect to any LIBOR Rate Loan having an Interest Period of six (6)&nbsp;months, the last day of each three (3)&nbsp;month interval and,
without duplication, the last day of such Interest Period, and (c)&nbsp;with respect to Base Rate Loans (including Swing Loans) the first day of each month. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Period</U>&#148; means, with respect to any LIBOR Rate Loan, the period commencing on the Business Day such Loan is
disbursed or continued or on the Conversion Date on which a Base Rate Loan is converted to the LIBOR Rate Loan and ending on the date one, two, three or six months thereafter, as selected by the Borrower in its Notice of Borrowing or Notice of
Conversion/Continuation; provided that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) if any Interest Period pertaining to a LIBOR Rate Loan would otherwise end on
a day which is not a Business Day, that Interest Period shall be extended to the next succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month, in which event such Interest Period
shall end on the immediately preceding Business Day; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any Interest Period pertaining to a LIBOR Rate Loan that begins
on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such
Interest Period; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) no Interest Period shall extend beyond the Revolving Termination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Internet Domain Name</U>&#148; means all right, title and interest (and all related IP Ancillary Rights) arising under any
Requirement of Law in or relating to internet domain names. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Inventory</U>&#148; means all of the &#147;inventory&#148; (as such
term is defined in the UCC) of the Borrower, including, but not limited to, all merchandise, raw materials, parts, supplies, <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">work-in-process</FONT></FONT> and finished goods intended
for sale, together with all the containers, packing, packaging, shipping and similar materials related thereto, and including such inventory as is temporarily out of a Borrower&#146;s custody or possession, including inventory on the premises of
others and items in transit. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>IP Ancillary Rights</U>&#148; means, with respect to any Intellectual Property, as
applicable, all foreign counterparts to, and all divisionals, reversions, continuations, continuations-in-part, reissues, reexaminations, renewals and extensions of, such Intellectual Property and all income, royalties, proceeds and Liabilities at
any time due or payable or asserted under or with respect to any of the foregoing or otherwise with respect to such Intellectual Property, including all rights to sue or recover at law or in equity for any past, present or future infringement,
misappropriation, dilution, violation or other impairment thereof, and, in each case, all rights to obtain any other IP Ancillary Right. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>IP License</U>&#148; means all Contractual Obligations (and all related IP Ancillary Rights), whether written or oral, granting any
right, title and interest in or relating to any Intellectual Property. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>IRS</U>&#148; means the Internal Revenue Service of the
United States and any successor thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issue</U>&#148; means, with respect to any Letter of Credit, to issue, extend the
expiration date of, renew (including by failure to object to any automatic renewal on the last day such objection is permitted), increase the face amount of, or reduce or eliminate any scheduled decrease in the face amount of, such Letter of Credit,
or to cause any Person to do any of the foregoing. The terms &#147;Issued&#148;, &#147;Issuance&#148; and &#147;Issuer&#148; have correlative meanings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>L/C Issuer</U>&#148; means any Lender or an Affiliate thereof or a bank or other legally authorized Person, in each case, reasonably
acceptable to Agent, in such Person&#146;s capacity as an Issuer of Letters of Credit hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>L/C Reimbursement
Obligation</U>&#148; means, for any Letter of Credit, the obligation of the Borrower to the L/C Issuer thereof or to Agent, as and when matured, to pay all amounts drawn under such Letter of Credit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lease Financing</U>&#148; means (i)&nbsp;a lease of specific Equipment and (ii)&nbsp;a secured financing transaction secured by
specific Equipment, whether that transaction is called a lease or a loan, entered into by any Credit Party with any Lender or any of its Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lender</U>&#148; means each Lender with a Revolving Loan Commitment (or if the Revolving Loan Commitments have terminated, who hold
Revolving Loans or participations in Swing Loans or Letter of Credit Obligations). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lending Office</U>&#148; means, with respect
to any Lender, the office or offices of such Lender specified as its &#147;Lending Office&#148; beneath its name on the applicable signature page hereto, or such other office or offices of such Lender as it may from time to time notify the Borrower
and Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Letter of Credit</U>&#148; means documentary or standby letters of credit Issued for the account of the Borrower by
L/C Issuers, and bankers&#146; acceptances issued by the Borrower, for which Agent and Lenders have incurred Letter of Credit Obligations. Each Existing Letter of Credit shall be deemed to constitute a Letter of Credit Issued hereunder on the
Closing Date for all purposes of the Loan Documents. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Letter of Credit Obligations</U>&#148; means all outstanding obligations incurred by
Agent and Lenders at the request of the Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the Issuance of Letters of Credit by L/C Issuers or the purchase of a participation as set forth in
<U>Section&nbsp;1.1(b)</U> with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent and Lenders thereupon or pursuant thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Liabilities</U>&#148; means all claims, actions, suits, judgments, damages, losses, liability, obligations, responsibilities, fines,
penalties, sanctions, costs, fees, Taxes, commissions, charges, disbursements and expenses (including, without limitation, those incurred upon any appeal or in connection with the preparation for and/or response to any subpoena or request for
document production relating thereto), in each case of any kind or nature (including interest accrued thereon or as a result thereto and fees, charges and disbursements of financial, legal and other advisors and consultants), whether joint or
several, whether or not indirect, contingent, consequential, actual, punitive, treble or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LIBOR</U>&#148; means, for
each Interest Period,&nbsp;the offered rate per annum for deposits of Dollars for the applicable Interest Period that appears on Reuters Screen LIBOR 01 Page as of 11:00 A.M. (London, England time) two (2)&nbsp;Business Days prior to the first day
in such Interest Period. If no such offered rate exists, such rate will be the rate of interest per annum, as determined by Agent at which deposits of Dollars in immediately available funds are offered at 11:00 A.M. (London, England time) two
(2)&nbsp;Business Days prior to the first day in such Interest Period by major financial institutions reasonably satisfactory to Agent in the London interbank market for such Interest Period for the applicable principal amount on such date of
determination. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LIBOR Rate Loan</U>&#148; means a Loan that bears interest based on LIBOR. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lien</U>&#148; means any mortgage, deed of trust, pledge, hypothecation, assignment, charge, deposit arrangement, encumbrance,
easement, lien (statutory or otherwise), security interest or other security arrangement and any other preference, priority or preferential arrangement of any kind or nature whatsoever, including those created by, arising under or evidenced by any
conditional sale contract or other title retention agreement, the interest of a lessor under a Capital Lease and any synthetic or other financing lease having substantially the same economic effect as any of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Listerhill</U>&#148; means Listerhill Total Maintenance Center LLC, a Delaware limited liability company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Listerhill/AEMS Excess A/R Amount</U>&#148; means, as of any date of determination by Agent, an amount equal to the excess, if any,
of (i)&nbsp;the aggregate amount contributed to the Borrowing Base pursuant to <U>clause (a)</U>&nbsp;of the definition thereof from the Eligible Accounts of Listerhill and AEMS (without giving effect to <U>clause (a)(iii)</U> of the definition of
&#147;Borrowing Base&#148;) <U>over</U> (ii)&nbsp;$1,500,000; <U>provided</U>, <U>however</U>, that the amount specified in <U>clause (ii)</U>&nbsp;may be increased to an amount not to exceed $5,000,000 in Agent&#146;s sole discretion upon
satisfactory completion of a collateral audit and such other due diligence with respect to Listerhill and AEMS as Agent may determine advisable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Loan</U>&#148; means any loan made or deemed made by any Lender hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Loan Documents</U>&#148; means this Agreement, the Notes, the Fee Letter, the Collateral Documents, the Intercreditor Agreement, the
Master Agreement for Standby Letters of Credit, the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Master Agreement for Documentary Letters of Credit and all documents delivered to Agent and/or any Lender in connection with any of the foregoing, excluding, in any event, Secured Hedging
Agreements. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Margin Stock</U>&#148; means &#147;margin stock&#148; as such term is defined in Regulation T, U or X of the Federal
Reserve Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Adverse Effect</U>&#148; means an effect that results in or causes, or could reasonably be expected to
result in or cause, a material adverse change in any of (a)&nbsp;the condition (financial or otherwise) or prospects of any Credit Party or business, performance, operations or Property of the Credit Parties and their Subsidiaries taken as a whole;
(b)&nbsp;the ability of any Credit Party, any Restricted Subsidiary of any Credit Party or any other Person (other than Agent or Lenders) to perform its obligations under any Loan Document; or (c)&nbsp;the validity or enforceability of any Loan
Document or the rights and remedies of Agent, the Lenders and the other Secured Parties under any Loan Document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material
Contracts</U>&#148; means, collectively, the Anheuser-Busch Agreement, the Coca-Cola Agreement and the Rexam Supply Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Environmental Liabilities</U>&#148; means Environmental Liabilities exceeding $5,000,000 in the aggregate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Moody&#146;s</U>&#148; means Moody&#146;s Investors Service, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Mortgage</U>&#148; means any deed of trust, leasehold deed of trust, mortgage, leasehold mortgage, deed to secure debt, leasehold
deed to secure debt or other document creating a Lien on Real Estate or any interest in Real Estate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Multiemployer
Plan</U>&#148; means any multiemployer plan, as defined in Section&nbsp;3(37) or 4001(a)(3) of ERISA, as to which any ERISA Affiliate incurs or otherwise has any obligation or liability, contingent or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NAFCEL</U>&#148; means National Factory for Can Ends Ltd., a limited liability company formed under the laws of Saudi Arabia. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>National Flood Insurance Program</U>&#148; means the program created by the U.S. Congress pursuant to the National Flood Insurance
Act of 1968 and the Flood Disaster Protection Act of 1973, as revised by the National Flood Insurance Reform Act of 1994, that mandates the purchase of flood insurance to cover real property improvements located in Special Flood Hazard Areas in
participating communities and provides protection to property owners through a federal insurance program. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Issuance
Proceeds</U>&#148; means, in respect of any issuance of equity or incurrence of Indebtedness, cash proceeds (including cash proceeds as and when received in respect of non-cash proceeds received or receivable in connection with such issuance), net
of underwriting discounts and reasonable out-of-pocket costs and expenses paid or incurred in connection therewith in favor of any Person not an Affiliate of the Borrower. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Orderly Liquidation Value</U>&#148; means the cash proceeds of Inventory which could be obtained in an orderly liquidation (net
of all liquidation expenses, costs of sale, operating expenses and retrieval and related costs), as determined pursuant to the most recent third-party appraisal of such Inventory delivered to Agent by an appraiser reasonably acceptable to Agent.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Proceeds</U>&#148; means proceeds in cash, checks or other cash equivalent financial
instruments (including Cash Equivalents) as and when received by the Person making a Disposition, as well as insurance proceeds and condemnation and similar awards received on account of an Event of Loss, net of: (a)&nbsp;in the event of a
Disposition (i)&nbsp;the direct costs relating to such Disposition excluding amounts payable to the Borrower or any Affiliate of the Borrower, (ii)&nbsp;sale, use or other transaction Taxes paid or payable as a result thereof, and (iii)&nbsp;amounts
required to be applied to repay principal, interest and prepayment premiums and penalties on Indebtedness secured by a Lien on the asset which is the subject of such Disposition and (b)&nbsp;in the event of an Event of Loss, (i)&nbsp;so long as no
Default or Event of Default has occurred and is continuing, all money actually applied to repair or reconstruct the damaged Property or Property affected by the condemnation or taking, (ii)&nbsp;all of the costs and expenses reasonably incurred in
connection with the collection of such proceeds, award or other payments, and (iii)&nbsp;any amounts retained by or paid to parties having superior rights to such proceeds, awards or other payments. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>NOLV Factor</U>&#148; means, as of the date of the appraisal of Inventory most recently received by Agent, the quotient of the Net
Orderly Liquidation Value of Inventory divided by the book value of Inventory, expressed as a percentage. The NOLV Factor will be increased or reduced promptly upon receipt by Agent of each updated appraisal. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-Funding Lender</U>&#148; means any Lender that has (a)&nbsp;failed to fund any payments required to be made by it under the Loan
Documents within two (2)&nbsp;Business Days after any such payment is due (excluding expense and similar reimbursements that are subject to good faith disputes), (b)&nbsp;given written notice (and Agent has not received a revocation in writing), to
the Borrower, Agent, any Lender, or the L/C Issuer or has otherwise publicly announced (and Agent has not received notice of a public retraction) that such Lender believes it will fail to fund payments or purchases of participations required to be
funded by it under the Loan Documents or one or more other syndicated credit facilities, (c)&nbsp;failed to fund, and not cured, loans, participations, advances, or reimbursement obligations under one or more other syndicated credit facilities,
unless subject to a good faith dispute, or (d)&nbsp;(i)&nbsp;become subject to a voluntary or involuntary case under the Bankruptcy Code or any similar bankruptcy laws, (ii)&nbsp;a custodian, conservator, receiver or similar official appointed for
it or any substantial part of such Person&#146;s assets, or (iii)&nbsp;made a general assignment for the benefit of creditors, been liquidated, or otherwise been adjudicated as, or determined by any Governmental Authority having regulatory authority
over such Person or its assets to be, insolvent or bankrupt, and for this <U>clause (d)</U>, Agent has determined that such Lender is reasonably likely to fail to fund any payments required to be made by it under the Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-U.S. Lender Party</U>&#148; means each of Agent, each Lender, each L/C Issuer, each SPV and each participant, in each case that
is not a United States person as defined in Section&nbsp;7701(a)(30) of the Code. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Note</U>&#148; means any Revolving Note or
Swingline Note and &#147;Notes&#148; means all such Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Notice of Borrowing</U>&#148; means a notice given by the Borrower to
Agent pursuant to <U>Section&nbsp;1.5</U>, in substantially the form of <U>Exhibit 1.5(a)</U> hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Obligations</U>&#148;
means (a)&nbsp;all Loans, and other Indebtedness, advances, debts, liabilities, obligations, covenants and duties owing by any Credit Party to any Lender, Agent, any L/C </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Issuer, any Secured Swap Provider or any other Person required to be indemnified, that arises under any Loan Document or any Secured Rate Contract, whether or not for the payment of money,
whether arising by reason of an extension of credit, loan, guaranty, indemnification or in any other manner, whether direct or indirect (including those acquired by assignment), absolute or contingent, due or to become due, now existing or hereafter
arising and however acquired and (b)&nbsp;all Bank Product Obligations; <U>provided</U>, that Obligations of any Guarantor shall not include any Excluded Rate Contract Obligations solely of such Guarantor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Ordinary Course of Business</U>&#148; means, in respect of any transaction involving any Person, the ordinary course of such
Person&#146;s business, as conducted by any such Person in accordance with past practice and undertaken by such Person in good faith and not for purposes of evading any covenant or restriction in any Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Organization Documents</U>&#148; means, (a)&nbsp;for any corporation, the certificate or articles of incorporation, the bylaws, any
certificate of determination or instrument relating to the rights of preferred shareholders of such corporation and any shareholder rights agreement, (b)&nbsp;for any partnership, the partnership agreement and, if applicable, certificate of limited
partnership, (c)&nbsp;for any limited liability company, the operating agreement and articles or certificate of formation or (d)&nbsp;any other document setting forth the manner of election or duties of the officers, directors, managers or other
similar persons, or the designation, amount or relative rights, limitations and preference of the Stock of a Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Other
Connection Taxes</U>&#148; means, with respect to any Secured Party, Taxes imposed as a result of a present or former connection between such Secured Party and the jurisdiction imposing such Tax, other than any such connection arising solely from
the Secured Party having executed, delivered, become a party to, performed its obligations or received a payment under, received or perfected as a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document,
or sold or assigned an interest in any Loan or Loan Document. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Other Debt Documents</U>&#148; means, collectively, the Rexam
Financing Documents and the Senior Notes Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Patents</U>&#148; means all rights, title and interests (and all related IP
Ancillary Rights) arising under any Requirement of Law in or relating to letters patent and applications therefor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Patriot
Act</U>&#148; means the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, P.L. 107-56. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>PBGC</U>&#148; means the United States Pension Benefit Guaranty Corporation or any successor thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permits</U>&#148; means, with respect to any Person, any permit, approval, authorization, license, registration, certificate,
concession, grant, franchise, variance or permission from, and any other Contractual Obligations with, any Governmental Authority, in each case whether or not having the force of law and applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Acquisition</U>&#148; means any Acquisition by (i)&nbsp;a Credit Party or a
Restricted Subsidiary of a Credit Party of substantially all of the assets of a Target, which assets are located in the United States or (ii)&nbsp;a Credit Party or a Restricted Subsidiary of a Credit Party of 100% of the Stock and Stock Equivalents
of a Target organized under the laws of any State in the United States or the District of Columbia, in each case, to the extent that each of the following conditions shall have been satisfied: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) the Borrower shall have delivered to Agent at least five (5)&nbsp;days prior to the consummation thereof (or such shorter period as Agent
may accept): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) (x) notice of such Acquisition setting forth in reasonable detail the terms and conditions of such
Acquisition, (y)&nbsp;pro forma financial statements of Holdings and its Restricted Subsidiaries after giving effect to the consummation of such Acquisition and the incurrence or assumption of any Indebtedness in connection therewith and (z)&nbsp;to
the extent available, a due diligence package, in each case, prior to closing of such Acquisition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) a certificate of a
Responsible Officer of the Borrower demonstrating on a pro forma basis after giving effect to the consummation of such Acquisition that either (x)&nbsp;Availability as of the date of the consummation of the Acquisition will be not less than the
greater of (A)&nbsp;$90,000,000 and (B)&nbsp;30% of the Aggregate Revolving Commitment as of such date or (y)&nbsp;Availability as of the date of the consummation of the Acquisition will be not less than the greater of (A)&nbsp;$50,000,000 and
(B)&nbsp;15% of the Aggregate Revolving Commitment as of such date and, in the case of this <U>clause (y)</U>, the Fixed Charge Coverage Ratio, calculated on a pro forma basis for the twelve month period ending as of the last day of the most recent
Fiscal Quarter preceding the date on which the Acquisition will be consummated for which financial statements have been delivered, will be greater than 1.05 to 1.00; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) to the extent available, such other information agreements, instruments and other documents as Agent reasonably shall
request; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) the Borrower shall have delivered to Agent (i)&nbsp;as soon as available, executed counterparts of the respective
agreements, documents or instruments pursuant to which such Acquisition is to be consummated (including, without limitation, any related management, non-compete, employment, option or other material agreements), any schedules to such agreements,
documents or instruments and all other material ancillary agreements, instruments and documents to be executed or delivered in connection therewith, (ii)&nbsp;to the extent required under the related acquisition agreement, all consents and approvals
from applicable Governmental Authorities and other Persons and (iii)&nbsp;if required by Agent, environmental assessments reasonably satisfactory to Agent; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) such Acquisition shall not be hostile and shall have been approved by the board of directors (or other similar body) and/or the
stockholders or other equityholders of the Target; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) without limiting the conditions set forth in <U>Section&nbsp;2.2</U> if such
Acquisition is being financed with the proceeds of Loans, no Default or Event of Default shall then exist or would exist after giving effect thereto or, with respect to an Acquisition being financed solely with Net Issuance Proceeds of an Excluded
Equity Issuance by Holdings, no Default or Event of Default exists as of, or would exist if such Acquisition were consummated on, the date of signing of the acquisition agreement; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) the Target has EBITDA, subject to pro forma adjustments acceptable to Agent, for the most recent four quarters prior to the acquisition
date for which financial statements are available, greater than zero. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, no Accounts or Inventory acquired by a Credit Party in a Permitted Acquisition
shall be included as Eligible Accounts or Eligible Inventory until a field examination (and, if required by Agent, an Inventory appraisal) with respect thereto has been completed to the satisfaction of Agent, including the establishment of Reserves
required in Agent&#146;s Permitted Discretion; provided that field examinations and appraisals in connection with Permitted Acquisitions shall not count against the limited number of field examinations or appraisals for which expense reimbursement
may be sought. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Discretion</U>&#148; means a determination made in good faith and in the exercise of reasonable (from
the perspective of a secured asset-based lender) business judgment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Investors</U>&#148; means (i)&nbsp;David
D&#146;Addario, (ii)&nbsp;members of Mr.&nbsp;D&#146;Addario&#146;s immediate family, (iii)&nbsp;corporations, partnerships, limited liability companies or other entities which are owned or controlled by Mr.&nbsp;D&#146;Addario or members of his
immediate family and (iv)&nbsp;trusts created by Mr.&nbsp;D&#146;Addario or members of his immediately family for the benefit of Mr.&nbsp;D&#146;Addario or members of his immediately family. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Refinancing</U>&#148; means Indebtedness constituting a refinancing or extension of Indebtedness permitted under
<U>Section&nbsp;5.5(c)</U>, <U>(d)</U>, <U>(g)</U>&nbsp;and <U>(h)</U>, that (a)&nbsp;has an aggregate outstanding principal amount not greater than the aggregate principal amount of the Indebtedness being refinanced or extended, (b)&nbsp;has a
Weighted Average Life to Maturity (measured as of the date of such refinancing or extension) and maturity no shorter than that of the Indebtedness being refinanced or extended, (c)&nbsp;is not entered into as part of a sale leaseback transaction,
(d)&nbsp;is not secured by a Lien on any assets other than the collateral securing the Indebtedness being refinanced or extended, (e)&nbsp;the obligors of which are the same as the obligors of the Indebtedness being refinanced or extended,
(f)&nbsp;is otherwise on terms no less favorable to the Credit Parties and their Restricted Subsidiaries, taken as a whole, than those of the Indebtedness being refinanced or extended and (g)&nbsp;with respect to Indebtedness constituting a
refinancing or extension of Indebtedness permitted under <U>Section&nbsp;5.5(g)</U> or <U>5.5(h)</U>, is permitted under the Intercreditor Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; means any individual, partnership, corporation (including a business trust and a public benefit corporation), joint
stock company, estate, association, firm, enterprise, trust, limited liability company, unincorporated association, joint venture and any other entity or Governmental Authority. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Prior Indebtedness</U>&#148; means Indebtedness arising under (i)&nbsp;the Existing Revolving Credit Agreement and (ii)&nbsp;the
Existing Term Loan Credit Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Prior Lender</U>&#148; means each of (i)&nbsp;Wells Fargo Bank, National Association, as
administrative agent under the Existing Revolving Credit Agreement and (ii)&nbsp;The Employees&#146; Retirement System of Alabama and The Teachers&#146; Retirement System of Alabama, as lenders under the Existing Term Loan Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Property</U>&#148; means any interest in any kind of property or asset, whether real, personal or mixed, and whether tangible or
intangible. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Qualified ECP Guarantor</U>&#148; means, in respect of any Swap Obligation under a Secured Rate Contract, each
Credit Party that has total assets exceeding $10,000,000 at the time the relevant guarantee or grant of the relevant security interest becomes effective with respect to such Swap Obligation under a Secured Rate Contract or such other person as
constitutes an &#147;eligible </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
contract participant&#148; under the Commodity Exchange Act and can cause another person to qualify as an &#147;eligible contract participant&#148; at such time by entering into a keepwell under
Section&nbsp;1a(18)(A)(v)(II) of the Commodity Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rate Contracts</U>&#148; means swap agreements (as such term is
defined in Section&nbsp;101 of the Bankruptcy Code) and any other agreements or arrangements designed to provide protection against fluctuations in interest or currency exchange rates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Real Estate</U>&#148; means any real property owned, leased, subleased or otherwise operated or occupied by any Credit Party or any
Restricted Subsidiary of any Credit Party. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Related Persons</U>&#148; means, with respect to any Person, each Affiliate of such
Person and each director, officer, employee, agent, trustee, representative, attorney, accountant and each insurance, environmental, legal, financial and other advisor (including those retained in connection with the satisfaction or attempted
satisfaction of any condition set forth in <U>Article II</U>) and other consultants and agents of or to such Person or any of its Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Related Transactions</U>&#148; means the issuance of the Senior Notes, the refinancing of the Prior Indebtedness and the redemption
of the outstanding 10% paid-in-kind preferred, non-convertible membership interests of Holdings with the proceeds thereof and, in the case of the refinancing of the Existing Revolving Credit Agreement, the proceeds of the initial Loans hereunder,
the execution and delivery of all Other Debt Documents and the payment of all fees, costs and expenses in connection with each of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Releases</U>&#148; means any release, threatened release, spill, emission, leaking, pumping, pouring, emitting, emptying, escape,
injection, deposit, disposal, discharge, dispersal, dumping, leaching or migration of Hazardous Material into or through the environment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Remedial Action</U>&#148; means all actions required to (a)&nbsp;clean up, remove, treat or in any other way address any Hazardous
Material in the indoor or outdoor environment, (b)&nbsp;prevent or minimize any Release so that a Hazardous Material does not migrate or endanger or threaten to endanger public health or welfare or the indoor or outdoor environment or
(c)&nbsp;perform pre remedial studies and investigations and post-remedial monitoring and care with respect to any Hazardous Material. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Required Lenders</U>&#148; means, at any time, (a)&nbsp;Lenders then holding more than fifty percent (50%)&nbsp;of the sum of the
Aggregate Revolving Loan Commitments then in effect, or (b)&nbsp;if the Aggregate Revolving Loan Commitments have terminated, Lenders then holding more than fifty percent (50%)&nbsp;of the sum of the aggregate outstanding amount of Revolving Loans,
outstanding Letter of Credit Obligations, amounts of participations in Swing Loans and the principal amount of unparticipated portions of Swing Loans; <U>provided</U>, that so long as there are two (2)&nbsp;or more Lenders that are not Affiliates,
Required Lenders shall consist of Lenders that satisfy the foregoing clauses and consist of at least two (2)&nbsp;Lenders that are not Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Requirement of Law</U>&#148; means, with respect to any Person, the common law and any federal, state, local, foreign, multinational
or international laws, statutes, codes, treaties, standards, rules and regulations, guidelines, ordinances, orders, judgments, writs, injunctions, decrees (including administrative or judicial precedents or authorities) and the interpretation or
administration thereof by, and other determinations, directives, requirements or requests of, any Governmental Authority, in each case whether or not having the force of law and that are applicable to or binding upon such Person or any of its
Property or to which such Person or any </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of its Property is subject. For the avoidance of doubt, the term &#147;Requirement of Law&#148; shall include FATCA and any intergovernmental agreements with respect thereto between the United
States and another jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Reserves</U>&#148; means, with respect to the Borrowing Base (a)&nbsp;reserves established by
Agent from time to time against Eligible Accounts pursuant to <U>Section&nbsp;1.11</U> and Eligible Inventory pursuant to <U>Section&nbsp;1.12</U>, and (b)&nbsp;such other reserves against Eligible Accounts, Eligible Inventory or Availability that
Agent may, in its Permitted Discretion, establish from time to time. Without limiting the generality of the foregoing, Reserves established to ensure the payment of accrued interest expenses or Indebtedness shall be deemed to be an exercise of
Agent&#146;s Permitted Discretion. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Responsible Officer</U>&#148; means the chief executive officer or the president of the
Borrower or any other officer having substantially the same authority and responsibility; or, with respect to compliance with financial covenants or delivery of financial information, the chief financial officer or the treasurer of the Borrower or
any other officer having substantially the same authority and responsibility. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Subsidiaries</U>&#148; means,
collectively, all Subsidiaries of Holdings other than the Unrestricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Revolving Note</U>&#148; means a promissory
note of the Borrower payable to a Lender in substantially the form of <U>Exhibit 1.2(a)</U> hereto, evidencing Indebtedness of the Borrower under the Revolving Loan Commitment of such Lender. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Revolving Termination Date</U>&#148; means the earlier to occur of: (a)&nbsp;September&nbsp;14, 2018 and (b)&nbsp;the date on which
the Aggregate Revolving Loan Commitment shall terminate in accordance with the provisions of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam</U>&#148;
means Rexam Beverage Can Company, a Delaware corporation, and its successors and assigns. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam Financing Documents</U>&#148;
means, collectively, the Advance Agreement, the &#147;Security Agreement&#148; (as defined in the Advance Agreement) and all other agreements, documents and instruments executed and/or delivered by any Credit Party or any of their respective
Affiliates in connection therewith or related thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam Supply Agreement</U>&#148; means the Aluminum Can Sheet Supply
Agreement, dated as of August&nbsp;21, 2013, between the Borrower and Rexam, as amended, restated, supplemented, otherwise modified, extended, renewed, replaced from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>S&amp;P</U>&#148; means Standard&nbsp;&amp; Poor&#146;s Rating Services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Secured Party</U>&#148; means Agent, each Lender, each L/C Issuer, each other Indemnitee and each other holder of any Obligation of a
Credit Party, including each Secured Swap Provider. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Secured Bank Product</U>&#148; means any Bank Product which (i)&nbsp;has
been provided or arranged by GE Capital or an Affiliate of GE Capital or (ii)&nbsp;Agent has acknowledged in writing constitutes a &#147;Secured Bank Product&#148; hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Secured Rate Contract</U>&#148; means any Rate Contract between the Borrower and the
counterparty thereto, which (i)&nbsp;has been provided or arranged by GE Capital or an Affiliate of GE Capital, or (ii)&nbsp;Agent has acknowledged in writing constitutes a &#147;Secured Rate Contract&#148; hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Secured Swap Provider</U>&#148; means (i)&nbsp;a Lender or an Affiliate of a Lender (or a Person who was a Lender or an Affiliate of
a Lender at the time of execution and delivery of a Rate Contract) who has entered into a Secured Rate Contract with the Borrower, or (ii)&nbsp;a Person with whom the Borrower has entered into a Secured Rate Contract provided or arranged by GE
Capital or an Affiliate of GE Capital, and any assignee thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Senior Noteholders</U>&#148; means each &#147;Holder&#148;
under and as defined in the Senior Notes Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Senior Notes</U>&#148; means the senior secured notes co-issued by Holdings
and Wise Alloys Finance Corporation pursuant to the Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Senior Notes Documents</U>&#148; means, collectively, the Senior
Notes Indenture, the Senior Notes, the &#147;Security Documents&#148; (as defined in the Senior Notes Indenture) and all other agreements, documents and instruments executed and/or delivered by any Credit Party or any of their respective Affiliates
in connection therewith or related thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Senior Notes Indenture</U>&#148; means the Indenture dated as of December&nbsp;11,
2013, among Holdings, certain Subsidiaries of Holdings and the Indenture Trustee, as amended, restated, supplemented, otherwise modified, extended, renewed, replaced from time to time in accordance with the terms of this Agreement and the
Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Software</U>&#148; means (a)&nbsp;all computer programs, including source code and object code
versions, (b)&nbsp;all data, databases and compilations of data, whether machine readable or otherwise, and (c)&nbsp;all documentation, training materials and configurations related to any of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Solvent</U>&#148; means, with respect to any Person as of any date of determination, that, as of such date, (a)&nbsp;the value of the
assets of such Person (both at fair value and present fair saleable value) is greater than the total amount of liabilities (including contingent and unliquidated liabilities) of such Person, (b)&nbsp;such Person is able to pay all liabilities of
such Person as such liabilities mature and (c)&nbsp;such Person does not have unreasonably small capital. In computing the amount of contingent or unliquidated liabilities at any time, such liabilities shall be computed at the amount that, in light
of all the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Special Flood Hazard Area</U>&#148; means an area that FEMA&#146;s current flood maps indicate has at least a one percent
(1%)&nbsp;chance of a flood equal to or exceeding the base flood elevation (a 100-year flood) in any given year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Mill
Assets</U>&#148; means the equipment and fixtures of the Borrower and the other Credit Parties constituting the three-stand mill located in Muscle Shoal, Alabama, and such other assets related thereto that do not constitute &#147;Revolving Credit
Priority Collateral&#148; under and as defined in the Intercreditor Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Real Estate</U>&#148; means any
fee-owned real property of a Credit Party with a value in excess of $2,000,000. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>SPV</U>&#148; means any special purpose funding vehicle identified as such in a writing
by any Lender to Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Stock</U>&#148; means all shares of capital stock (whether denominated as common stock or preferred
stock), equity interests, beneficial, partnership or membership interests, joint venture interests, participations or other ownership or profit interests in or equivalents (regardless of how designated) of or in a Person (other than an individual),
whether voting or non-voting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Stock Equivalents</U>&#148; means all securities convertible into or exchangeable for Stock or any
other Stock Equivalent and all warrants, options or other rights to purchase, subscribe for or otherwise acquire any Stock or any other Stock Equivalent, whether or not presently convertible, exchangeable or exercisable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subordinated Indebtedness</U>&#148; means Indebtedness of any Credit Party or any Restricted Subsidiary of any Credit Party which is
subordinated to the Obligations as to right and time of payment and as to other rights and remedies thereunder and having such other terms as are, in each case, reasonably satisfactory to Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary</U>&#148; means, with respect to any Person, any corporation, partnership, joint venture, limited liability company,
association or other entity, the management of which is, directly or indirectly, controlled by, or of which an aggregate of more than fifty percent (50%)&nbsp;of the voting Stock is, at the time, owned or controlled directly or indirectly by, such
Person or one or more Subsidiaries of such Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Supermajority Lenders</U>&#148; means, at any time, (a)&nbsp;Lenders then
holding more than 66 2/3% of the sum of the Aggregate Revolving Loan Commitments then in effect, or (b)&nbsp;if the Aggregate Revolving Loan Commitments have terminated, Lenders then holding more than 66 2/3% of the sum of the aggregate outstanding
amount of Revolving Loans, outstanding Letter of Credit Obligations, amounts of participations in Swing Loans and the principal amount of unparticipated portions of Swing Loans; <U>provided</U>, that so long as there are two (2)&nbsp;or more Lenders
that are not Affiliates, Supermajority Lenders shall consist of Lenders that satisfy the foregoing clauses and consist of at least two (2)&nbsp;Lenders that are not Affiliates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Swap Obligation</U>&#148; means, with respect to any Guarantor, any obligation to pay or perform under any agreement, contract or
transaction that constitutes a &#147;swap&#148; within the meaning of section 1a(47) of the Commodity Exchange Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Swingline
Commitment</U>&#148; means $30,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Swingline Lender</U>&#148; means, each in its capacity as Swingline Lender hereunder, GE
Capital or, upon the resignation of GE Capital as Agent hereunder, any Lender (or Affiliate or Approved Fund of any Lender) that agrees, with the approval of Agent (or, if there is no such successor Agent, the Required Lenders) and the Borrower, to
act as the Swingline Lender hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Swingline Note</U>&#148; means a promissory note of the Borrower payable to the Swingline
Lender, in substantially the form of <U>Exhibit&nbsp;1.2(b)</U> hereto, evidencing the Indebtedness of the Borrower to the Swingline Lender resulting from the Swing Loans made to the Borrower by the Swingline Lender. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Target</U>&#148; means any Person or business unit or asset group of any Person acquired
or proposed to be acquired in an Acquisition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Tax Affiliate</U>&#148; means, (a)&nbsp;the Borrower and its Subsidiaries,
(b)&nbsp;each other Credit Party and (c)&nbsp;any Affiliate of the Borrower with which the Borrower files or is eligible to file consolidated, combined or unitary Tax returns. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Title IV Plan</U>&#148; means a pension plan subject to Title IV of ERISA, other than a Multiemployer Plan, to which any ERISA
Affiliate incurs or otherwise has any obligation or liability, contingent or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trade Secrets</U>&#148; means all right,
title and interest (and all related IP Ancillary Rights) arising under any Requirement of Law in or relating to trade secrets. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trademark</U>&#148; means all rights, title and interests (and all related IP Ancillary Rights) arising under any Requirement of Law
in or relating to trademarks, trade names, corporate names, company names, business names, fictitious business names, trade styles, service marks, logos and other source or business identifiers and, in each case, all goodwill associated therewith,
all registrations and recordations thereof and all applications in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trigger Event</U>&#148; means any time
that Availability shall be less than the greater of $32,000,000 and 10% of the Aggregate Revolving Loan Commitment at such time. Upon the occurrence of a Trigger Event, such Trigger Event shall be deemed to be continuing until the date that is the
first date on which at all times during the preceding thirty (30)&nbsp;consecutive days, Availability shall have been at least equal to the greater of $32,000,000 and 10% of the Aggregate Revolving Loan Commitment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>UCC</U>&#148; means the Uniform Commercial Code of any applicable jurisdiction and, if the applicable jurisdiction shall not have any
Uniform Commercial Code, the Uniform Commercial Code as in effect from time to time in the State of New York. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>United
States</U>&#148; and &#147;U.S.&#148; each means the United States of America. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Subsidiaries</U>&#148; means,
collectively, Wise Recycling, LLC, a Maryland limited liability company, and its Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Lender Party</U>&#148; means
each of Agent, each Lender, each L/C Issuer, each SPV and each participant, in each case that is a United States person as defined in Section&nbsp;7701(a)(30) of the Code. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Weighted Average Life to Maturity</U>&#148; means, when applied to any Indebtedness at any date, the number of years obtained by
dividing: (a)&nbsp;the sum of the products obtained by multiplying (i)&nbsp;the amount of each then remaining installment or other required payments of principal, including payment at final maturity, in respect thereof, by (ii)&nbsp;the number of
years (calculated to the nearest one-twelfth) that will elapse between such date and the making of such payment by (b)&nbsp;the then outstanding principal amount of such Indebtedness; provided that for purposes of determining the Weighted Average
Life to Maturity of any Indebtedness that is being modified, refinanced, refunded, renewed, replaced or extended, the effects of any prepayments made on such Indebtedness prior to the date of the applicable extension shall be disregarded. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">110 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wholly-Owned Subsidiary</U>&#148; of a Person means any Subsidiary of such Person, all
of the Stock and Stock Equivalents of which (other than directors&#146; qualifying shares required by law) are owned by such Person, either directly or through one or more Wholly-Owned Subsidiaries of such Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.2 <U>Other Interpretive Provisions</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Defined Terms</U>. Unless otherwise specified herein or therein, all terms defined in this Agreement or in any other Loan Document
shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto. The meanings of defined terms shall be equally applicable to the singular and plural forms of the defined terms. Terms (including
uncapitalized terms) not otherwise defined herein and that are defined in the UCC shall have the meanings therein described. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>The
Agreement</U>. The words &#147;hereof&#148;, &#147;herein&#148;, &#147;hereunder&#148; and words of similar import when used in this Agreement or any other Loan Document shall refer to this Agreement or such other Loan Document as a whole and not to
any particular provision of this Agreement or such other Loan Document; and subsection, section, schedule and exhibit references are to this Agreement or such other Loan Documents unless otherwise specified. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Certain Common Terms</U>. The term &#147;documents&#148; includes any and all instruments, documents, agreements, certificates,
indentures, notices and other writings, however evidenced. The term &#147;including&#148; is not limiting and means &#147;including without limitation.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Performance; Time</U>. Whenever any performance obligation hereunder or under any other Loan Document (other than a payment obligation)
shall be stated to be due or required to be satisfied on a day other than a Business Day, such performance shall be made or satisfied on the next succeeding Business Day. For the avoidance of doubt, the initial payments of interest and fees relating
to the Obligations (other than amounts due on the Closing Date) shall be due and paid on the first day of the first month or quarter, as applicable, following the entry of the Obligations onto the operations systems of Agent, but in no event later
than the first day of the second month or quarter, as applicable, following the Closing Date. In the computation of periods of time from a specified date to a later specified date, the word &#147;from&#148; means &#147;from and including&#148;; the
words &#147;to&#148; and &#147;until&#148; each mean &#147;to but excluding&#148;, and the word &#147;through&#148; means &#147;to and including.&#148; All references to the time of day shall be a reference to New York time. If any provision of this
Agreement or any other Loan Document refers to any action taken or to be taken by any Person, or which such Person is prohibited from taking, such provision shall be interpreted to encompass any and all means, direct or indirect, of taking, or not
taking, such action. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Contracts</U>. Unless otherwise expressly provided herein or in any other Loan Document, references to
agreements and other contractual instruments, including this Agreement and the other Loan Documents, shall be deemed to include all subsequent amendments, thereto, restatements and substitutions thereof and other modifications and supplements
thereto which are in effect from time to time, but only to the extent such amendments and other modifications are not prohibited by the terms of any Loan Document. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Laws</U>. References to any statute or regulation may be made by using either the common or public name thereof or a specific cite
reference and, except as otherwise provided with respect to FATCA, are to be construed as including all statutory and regulatory provisions related thereto or consolidating, amending, replacing, supplementing or interpreting the statute or
regulation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">111 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.3 <U>Accounting Terms and Principles</U>. All accounting determinations required to be made
pursuant hereto shall, unless expressly otherwise provided herein, be made in accordance with GAAP. No change in the accounting principles used in the preparation of any financial statement hereafter adopted by Holdings shall be given effect for
purposes of measuring compliance with any provision of <U>Article V</U> or <U>VI</U> unless the Borrower, Agent and the Required Lenders agree to modify such provisions to reflect such changes in GAAP and, unless such provisions are modified, all
financial statements, Compliance Certificates and similar documents provided hereunder shall be provided together with a reconciliation between the calculations and amounts set forth therein before and after giving effect to such change in GAAP.
Notwithstanding any other provision contained herein, all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to in <U>Article V</U> and <U>Article VI</U> shall be made,
without giving effect to any election under Accounting Standards Codification 825-10 (or any other Financial Accounting Standard having a similar result or effect) to value any Indebtedness or other Liabilities of any Credit Party or any Subsidiary
of any Credit Party at &#147;fair value.&#148; A breach of a financial covenant contained in <U>Article VI</U> shall be deemed to have occurred as of any date of determination by Agent or as of the last day of any specified measurement period,
regardless of when the financial statements reflecting such breach are delivered to Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.4 <U>Payments</U>. Agent may set up
standards and procedures to determine or redetermine the equivalent in Dollars of any amount expressed in any currency other than Dollars and otherwise may, but shall not be obligated to, rely on any determination made by any Credit Party or any L/C
Issuer. Any such determination or redetermination by Agent shall be conclusive and binding for all purposes, absent manifest error. No determination or redetermination by any Secured Party or any Credit Party and no other currency conversion shall
change or release any obligation of any Credit Party or of any Secured Party (other than Agent and its Related Persons) under any Loan Document, each of which agrees to pay separately for any shortfall remaining after any conversion and payment of
the amount as converted. Agent may round up or down, and may set up appropriate mechanisms to round up or down, any amount hereunder to nearest higher or lower amounts and may determine reasonable de minimis payment thresholds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Pages Follow] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">112 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their duly authorized officers as of the day and year first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE ALLOYS LLC</B>, as the Borrower</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President and Secretary</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">FEIN:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">52-2139172</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Address for notices:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">4805 Second Street</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Muscle Shoals, AL 35661</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Monte Schaefer</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Facsimile: 256-386-6003</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Address for wire transfers:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">4805 Second Street</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Muscle Shoals, AL 35661</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Monte Schaefer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit
Agreement] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their duly authorized officers as of the day and year first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE METALS GROUP LLC</B>, as Holdings</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President, Chief Legal Officer and Secretary</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">FEIN:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">52-2160047</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE ALLOYS FINANCE CORPORATION</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">FEIN:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">02-0592756</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LISTERHILL TOTAL MAINTENANCE CENTER LLC</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">FEIN:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">20-0267941</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>ALABAMA ELECTRIC MOTOR SERVICES, LLC</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">/s/ Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">FEIN:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">26-3203892</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit
Agreement] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GENERAL ELECTRIC CAPITAL CORPORATION</B>, as Agent, Swingline Lender and as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Matthew N. McAlpine</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Matthew N. McAlpine</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Its Duly Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Address for Notices:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">General Electric Capital Corporation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">500 West Monroe Street</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Chicago, Illinois 60661</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Wise Alloys Account Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">With a copy to:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">General Electric Capital Corporation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Corporate Finance:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">10 Riverview Drive</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Danbury, CT 06810</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Mark O&#146;Leary</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Facsimile: (203)&nbsp;749-4562</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">and</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">General Electric Capital Corporation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">401 Merritt 7</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Norwalk, CT 06851</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Senior Counsel &#150; Corporate Finance</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Facsimile: (855)&nbsp;434-1043</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit
Agreement] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="100%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Lending Office:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">GE Capital</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">500 West Monroe Street, 10th Floor</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Chicago, IL 60661</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Address for payments:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">ABA No.&nbsp;021-001-033</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Account Number [50286174]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Deutsche Bank Trust Company Americas</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">New York, New York</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Account Name: [GECC/CFS - AGENTED DEALS]</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Reference: Wise Alloys LLC CFL1111</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit
Agreement] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered by their duly authorized officers as of the day and year first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GE CAPITAL BANK</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Woodrow Broaders Jr.</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Woodrow Broaders Jr.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Duly Authorized Signatory</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Address for notices:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">GE Capital Bank c/o</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">General Electric Capital Corporation</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">500 West Monroe Street</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Chicago, Illinois 60661</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Wise Allows Account Manager</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">With a copy to:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">GE Capital Bank</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">6510 Millrock Drive</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Suite 200</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Salt Lake City, Utah 84121</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Chief Financial Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Lending office:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">GE Capital Bank</P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">c/o General
Electric Capital Corporation</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">201 Merritt Seven</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Norwalk, CT 06851</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Wise Alloys Account Manager</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Facsimile:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">With a copy to:</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">GE Capital Bank</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">6510 Millrock Drive</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Suite 200</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Salt Lake City, Utah 84121</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Chief Financial Officer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit
Agreement] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A.</B><B>,</B></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kenneth B. Butler</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Kenneth B. Butler</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Senior Vice President</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Address for notices:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">300 Galleria Parkway Suite 800</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Atlanta, GA 30339</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Attn: Credit Officer</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Facsimile: 404-607-3277</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Lending office:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">300 Galleria Parkway</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Suite 800</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Atlanta, GA 30339</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signature Page to Credit
Agreement] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Schedule 1.1 </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Revolving Loan Commitments </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="88%"></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Electric Capital Corporation</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">170,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GE Capital Bank</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">100,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bank of America, N.A.</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:3.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>TOTAL</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">320,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.16
<SEQUENCE>11
<FILENAME>d908770dex416.htm
<DESCRIPTION>EX-4.16
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.16</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.16 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>AMENDMENT NO. 3 TO CREDIT AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This AMENDMENT NO. 3 TO CREDIT AGREEMENT (this &#147;<U>Amendment</U>&#148;), dated as of November&nbsp;26, 2014, by and among Wise Alloys
LLC, a Delaware limited liability company (the &#147;<U>Borrower</U>&#148;), the other Credit Parties signatory hereto, General Electric Capital Corporation, as Agent (&#147;<U>Agent</U>&#148;), and the Lenders signatory hereto, amends that certain
Credit Agreement, dated as of December&nbsp;11, 2013 (as amended prior to the date hereof, the &#147;<U>Credit Agreement</U>&#148;), by and among the Borrower, the other Credit Parties party thereto, Agent, and the Lenders from time to time party
thereto. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has requested that the Lenders and Agent agree to certain amendments to the Credit Agreement; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Lenders party hereto and Agent have agreed to such amendments on the terms and conditions set forth herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to enter into this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. <U>Amendments to Credit Agreement</U>. Effective as of the date of satisfaction of the conditions precedent set forth in <U>Paragraph 2</U>
of this Amendment (such date, the &#147;<U>Effective Date</U>&#148;), the parties hereto agree that the Credit Agreement is hereby amended as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The table set forth on <U>Schedule 1.1(a)</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="91%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="12" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Revolving Loan Commitments</P></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">From&nbsp;and&nbsp;including&nbsp;November&nbsp;26,<BR>2014 through but excluding<BR>December&nbsp;8, 2014</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">From&nbsp;and&nbsp;including<BR>December&nbsp;8, 2014<BR>through&nbsp;but&nbsp;excluding<BR>March&nbsp;6, 2015</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">On&nbsp;and&nbsp;after&nbsp;March&nbsp;6,<BR>2015</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Electric Capital Corporation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">70,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">125,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">70,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GE Capital Bank</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">100,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">100,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">100,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GE Asset Based Master Note</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bank of America, N.A.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">62,500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Regions Bank</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">35,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">43,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">35,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">HVB Capital Credit LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>TOTAL</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">320,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">400,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">320,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Section&nbsp;4.2(d)</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(d) (i)&nbsp;as soon as available and in any event within twenty (20)&nbsp;days after the end of each calendar month (or, during any Weekly
Reporting Period, within three (3)&nbsp;Business Days after the end of each calendar week), a Borrowing Base Certificate, certified on behalf of the Borrower by a Responsible Officer of the Borrower, setting forth the Borrowing Base of the Borrower
as at the end of the </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
most-recently ended calendar month or week, as applicable; and (ii)&nbsp;during any AB No-Offset Period, to the extent not already provided under the preceding clause (i), as soon as available
and in any event within three (3)&nbsp;Business Days after the end of each calendar week, a Borrowing Base Certificate, certified on behalf of the Borrower by a Responsible Officer of the Borrower, solely setting forth the Eligible Accounts as to
which the related Account Debtor is Anheuser-Busch and that are included in the Borrowing Base as at the end of the most-recently ended calendar week; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Section&nbsp;4.2</U> of the Credit Agreement is hereby amended to (i)&nbsp;re-label the existing <U>clause (n)</U>&nbsp;as <U>clause
(o)</U>&nbsp;and (ii)&nbsp;inserting the following new <U>clause (n)</U>&nbsp;therein (and making any related punctuation and grammatical changes as a result thereof): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(n) commencing with the calendar week ending December&nbsp;13, 2014 and ending with (and including) the calendar week ending March&nbsp;7,
2015, by no later than the second (2<SUP STYLE="font-size:85%; vertical-align:top">nd</SUP>)&nbsp;Business Day of each calendar week, cash flow projections of the Credit Parties for the 13-week period commencing on the first day of such calendar
week, in form reasonably satisfactory to Agent; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Section&nbsp;5.20</U> of the Credit Agreement is hereby amended and restated
to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">If a Trigger Event has occurred and is continuing, such Credit Party shall not permit the Fixed Charge Coverage Ratio
for the twelve month period ending as of the last day of any fiscal month set forth below for which financial statements have been or were required to be delivered pursuant to <U>Section&nbsp;4.1</U> to be less than the minimum ratio set forth in
the table below opposite such fiscal month: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="60%"></TD>
<TD VALIGN="bottom" WIDTH="28%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:45.05pt; font-size:8pt; font-family:Times New Roman"><B>Fiscal Month</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Minimum&nbsp;Fixed&nbsp;Charge&nbsp;Coverage&nbsp;Ratio</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">September 2014</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">0.80&nbsp;to&nbsp;1.00</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">October 2014</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">0.80 to 1.00</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">November 2014</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">0.80 to 1.00</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">December 2014</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">0.80 to 1.00</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">January 2015 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">1.00 to 1.00</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Section&nbsp;10.1</U> of the Credit Agreement is hereby amended to insert, in the appropriate
alphabetical location, the following new definition: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;<U>Weekly Reporting Period</U>&#148; means (a)&nbsp;initially, the period
commencing on November&nbsp;26, 2014 and ending on March&nbsp;6, 2015; <U>provided</U> that, if at any time during such initial period Availability is less than the greater of $32,000,000 and 10% of the Aggregate Revolving Loan Commitment, the
Weekly Reporting Period shall continue until the later of (i)&nbsp;March&nbsp;6, 2015 and (ii)&nbsp;the first subsequent date, if any, on which Availability is greater than or equal to the greater of $32,000,000 and 10% of the Aggregate Revolving
Loan Commitment for a period of thirty (30)&nbsp;consecutive days and (b)&nbsp;thereafter, any period commencing on the date on which Availability is less than the greater of $32,000,000 and 10% of the Aggregate Revolving Loan Commitment and ending
on the first subsequent date, if any, on which Availability is greater than or equal to the greater of $32,000,000 and 10% of the Aggregate Revolving Loan Commitment for a period of thirty (30)&nbsp;consecutive days. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) The definitions of &#147;<U>Aggregate Revolving Loan Commitment</U>&#148; and
&#147;<U>Dominion Period</U>&#148; set forth in <U>Section&nbsp;10.1</U> of the Credit Agreement are hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;<U>Aggregate Revolving Loan Commitment</U>&#148; means the combined Revolving Loan Commitments of the Lenders, which shall be
(a)&nbsp;$320,000,000 from and including November&nbsp;26, 2014 through but excluding December&nbsp;8, 2014, (b)&nbsp;$400,000,000 from and including December&nbsp;8, 2014 through but excluding March&nbsp;6, 2015 and (c)&nbsp;$320,000,000 on and
after March&nbsp;6, 2015, in each case, as such amount may be reduced from time to time pursuant to this Agreement or increased as a result of Incremental Revolving Loan Commitments. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dominion Period</U>&#148; means (a)&nbsp;initially, the period commencing on November&nbsp;26, 2014 and ending March&nbsp;6, 2015;
<U>provided</U> that, if at any time during such initial period (i)&nbsp;an Event of Default has occurred and is continuing or (ii)&nbsp;Availability is less than the greater of $40,000,000 and 12.5% of the Aggregate Revolving Loan Commitment, the
Dominion Period shall continue until the later of (x)&nbsp;March&nbsp;6, 2015 and (y)&nbsp;the first subsequent date on which no Event of Default exists and Availability shall have been at least equal to the greater of $40,000,000 and 12.5% of the
Aggregate Revolving Loan Commitment for a period of 30 consecutive calendar days and (b)&nbsp;thereafter, any period (i)&nbsp;commencing on the date on which (x)&nbsp;an Event of Default has occurred and is continuing or (y)&nbsp;Availability as of
any date is less than the greater of $40,000,000 and 12.5% of the Aggregate Revolving Loan Commitment and (ii)&nbsp;ending on the first subsequent date on which (x)&nbsp;no Event of Default exists and (y)&nbsp;Availability shall have been at least
equal to the greater of $40,000,000 and 12.5% of the Aggregate Revolving Loan Commitment for a period of 30 consecutive calendar days. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2.
<U>Effectiveness of this Amendment; Conditions Precedent</U>. The provisions of this Amendment shall be deemed to have become effective as of the date of this Amendment, but such effectiveness shall be expressly conditioned upon Agent&#146;s receipt
of (a)&nbsp;a counterpart of this Amendment executed and delivered by duly authorized officers of the Borrower, each other Credit Party, each Lender increasing its Revolving Loan Commitment pursuant to this Amendment, the Required Lenders, and
Agent, (b)&nbsp;all fees due and payable to Agent or its affiliates in connection with this Amendment and (c)&nbsp;such other opinions, instruments and documents as are reasonably requested by Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3. <U>Miscellaneous</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)
<U>Headings</U>. The various headings of this Amendment are inserted for convenience of reference only and shall not affect the meaning or interpretation of this Amendment or any provisions hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Counterparts</U>. This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an
original and all of which together shall be deemed to be one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or other electronic transmission shall be effective as delivery of a
manually executed counterpart thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Interpretation</U>. No provision of this Amendment shall be construed against or
interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party&#146;s having or being deemed to have structured, drafted or dictated such provision. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Representations and Warranties</U>. Each Credit Party hereby represents and warrants that,
as of the date hereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) this Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and
binding obligation of such Credit Party, enforceable against it in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditor&#146;s
rights generally or by equitable principles relating to enforceability; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) its execution, delivery and performance of
this Amendment and its performance of the Credit Agreement, as amended hereby, have been duly authorized by all necessary action, and do not and will not: (1)&nbsp;contravene the terms of its Organizational Documents, (2)&nbsp;conflict with or
result in any material breach or contravention of, or result in the creation of any Lien under, any document evidencing any material Contractual Obligation to which it is a party or any order, injunction, writ or decree of any Governmental Authority
to which it or its Property is subject, or (3)&nbsp;violate any Requirement of Law in any material respect; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii)
after giving effect to this Amendment, (1)&nbsp;no Default or Event of Default has occurred and is continuing and (2)&nbsp;each representation and warranty of such Credit Party contained in the Credit Agreement and in each other Loan Document to
which it is a party is true and correct in all material respects (without duplication of any materiality qualifier contained therein), except to the extent that such representation or warranty expressly relates to an earlier date (in which event
such representation or warranty is true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Governing Law</U>. <B>THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN ALL MATTERS ARISING OUT OF, IN CONNECTION WITH, OR RELATING TO,
THIS AMENDMENT.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Effect</U>. Upon the effectiveness of this Amendment, each reference in the Credit Agreement to &#147;this
Agreement,&#148; &#147;hereunder,&#148; &#147;hereof&#148; or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby, and each reference in the other Loan Documents to the Credit Agreement,
&#147;thereunder,&#148; &#147;thereof,&#148; or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby. Except as expressly provided in this Amendment, all of the terms, conditions and provisions of the Credit
Agreement and the other Loan Documents shall remain the same. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>No Other Waiver</U>. Except as specifically set forth in this Amendment, the execution, delivery and effectiveness of this Amendment
shall not (a)&nbsp;limit, impair, constitute a waiver by, or otherwise affect any right, power or remedy of, Agent or any Lender under the Credit Agreement or any other Loan Document, (b)&nbsp;constitute a waiver of any provision in the Credit
Agreement or any other Loan Document or of any Default or Event of Default that may have occurred and be continuing or (c)&nbsp;alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in
the Credit Agreement or in any of the other Loan Documents, all of which are ratified and affirmed in all respects and shall continue in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Agent&#146;s Expenses</U>. The Borrower hereby agrees to promptly reimburse Agent for all of the reasonable out-of-pocket costs and
expenses, including, without limitation, fees and expenses of counsel, it has heretofore or hereafter incurred or incurs in connection with the preparation, negotiation and execution of this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGES FOLLOW] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first
above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE ALLOYS LLC</B>, as the Borrower</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alex Godwin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Alex Godwin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE METALS GROUP LLC</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alex Godwin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Alex Godwin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE ALLOYS FINANCE CORPORATION</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alex Godwin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Alex Godwin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>LISTERHILL TOTAL MAINTENANCE CENTER LLC</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alex Godwin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Alex Godwin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>ALABAMA ELECTRIC MOTOR SERVICES, LLC</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Alex Godwin</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Alex Godwin</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Treasurer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to
Amendment No. 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3" ROWSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>GENERAL ELECTRIC CAPITAL</B> <B>CORPORATION</B>, as Agent, Swingline Lender</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">and a Lender</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt"></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt"></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Matthew N. McAlpine</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Matthew N. McAlpine</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Duly Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to
Amendment No. 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GE CAPITAL BANK</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Woodrow Broaders Jr.</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Woodrow Broaders Jr.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Duly Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to
Amendment No. 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GE ASSET BASED MASTER NOTE</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Matthew N. McAlpine</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Matthew N. McAlpine</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Duly Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to
Amendment No. 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A.</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kenneth B. Butler</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Kenneth B. Butler</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Senior Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to
Amendment No. 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>REGIONS BANK</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Elizabeth L. Waller</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Elizabeth L. Waller</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Senior Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to
Amendment No. 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>HVB CAPITAL CREDIT LLC</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Christopher J. Norrito</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Christopher J. Norrito</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">V.P.</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to
Amendment No. 3 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.17
<SEQUENCE>12
<FILENAME>d908770dex417.htm
<DESCRIPTION>EX-4.17
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.17</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>Exhibit 4.17 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>CONSENT AND AMENDMENT NO. 4 </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>TO CREDIT AGREEMENT </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This CONSENT AND AMENDMENT NO. 4 TO CREDIT AGREEMENT (this &#147;<U>Amendment</U>&#148;), dated as of December&nbsp;23, 2014, by and among
Wise Alloys LLC, a Delaware limited liability company (the &#147;<U>Borrower</U>&#148;), the other Credit Parties signatory hereto, General Electric Capital Corporation, as Agent (&#147;<U>Agent</U>&#148;), and the Lenders signatory hereto, amends
that certain Credit Agreement, dated as of December&nbsp;11, 2013 (as amended prior to the date hereof, the &#147;<U>Credit Agreement</U>&#148;), by and among the Borrower, the other Credit Parties party thereto, Agent, and the Lenders from time to
time party thereto. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has informed Agent and the Lenders that Wise Metals Holdings LLC, a Delaware limited liability company and indirect
parent of Holdings (&#147;<U>Wise Metals</U>&#148;), has entered into that certain Unit Purchase Agreement, dated as of October&nbsp;3, 2014 (together with all exhibits and schedules thereto, the, the &#147;<U>Purchase Agreement</U>&#148;), by and
among Constellium N.V., a public company with limited liability existing under the laws of Netherlands (&#147;<U>Constellium</U>&#148;), Wise Metals, and Silver Knot, LLC, a Delaware, limited liability company, pursuant to which Wise Metals has
agreed to sell all of the issued and outstanding units of membership interest of Wise Metals Intermediate Holdings LLC, a Delaware limited liability company and direct parent of Holdings, to Constellium or a subsidiary thereof (such sale, the
&#147;<U>Constellium Acquisition</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, a Default (the &#147;<U>Specified Default</U>&#148;) has occurred under
<U>Section&nbsp;6.1(d)</U> of the Credit Agreement due to the Borrower&#146;s failure to deliver to Agent and each Lender projections of the Credit Parties and their Restricted Subsidiaries by no later than thirty (30)&nbsp;days prior to the last
day of the 2014 Fiscal Year, as currently required pursuant to <U>Section&nbsp;4.2(k)</U> of the Credit Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower
has requested that Agent and the Lenders (i)&nbsp;consent to the Constellium Acquisition, (ii)&nbsp;agree to make certain amendments to the Credit Agreement that will be effective upon the occurrence of the Constellium Acquisition and
(iii)&nbsp;waive the Specified Default; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Lenders party hereto and Agent have so agreed, subject to the terms and
conditions set forth herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to enter into this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1. <U>Consent</U>. Subject to the satisfaction of the condition precedent set forth in <U>Paragraph 4</U> of this Amendment, notwithstanding
the limitations contained in <U>Section&nbsp;5.12</U> of the Credit Agreement, Agent and the Lenders hereby consent to the Constellium Acquisition, so long as: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Constellium Acquisition is consummated (i)&nbsp;by no later than January&nbsp;30, 2015 (or such later date as may be agreed to by
Agent in its sole discretion) and (ii)&nbsp;in accordance with the Purchase Agreement, without giving effect to any amendments, consents or waivers thereto or modifications to the provisions thereof that, in any such case, are materially adverse to
the interests of the Lenders, without the consent of Agent (such consent not to be unreasonably withheld, conditioned or delayed); </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Constellium Holdco II B.V., a private limited liability company organized under the laws of
Netherlands and the direct wholly-owned subsidiary of Parent (&#147;<U>Holdco II</U>&#148;), shall have (i)&nbsp;entered into a guaranty, substantially in the form set forth on <U>Exhibit&nbsp;A</U> hereto, pursuant to which Holdco II shall have
agreed to unconditionally guaranty all of the Obligations and (ii)&nbsp;delivered to Agent (x)&nbsp;written legal opinions of New York and Dutch counsels to Holdco II relating to such guaranty, in each case, in form and substance reasonably
satisfactory to Agent and (y)&nbsp;a certificate from an authorized individual certifying (A)&nbsp;the certificate of incorporation (or other applicable charter document) of Holdco II, (B)&nbsp;the extract from the trade register relating to Holdco
II, (C)&nbsp;the resolutions of the governing body of Holdco II authorizing the execution and delivery of, and performance under, such guaranty and (D)&nbsp;the names and signatures of the individuals authorized to sign such guaranty on behalf of
Holdco II; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) within one (1)&nbsp;Business Day following the Constellium Acquisition, after giving effect to the Constellium Acquisition
and the payment of all costs and expenses in connection therewith (or creation of a reserve therefor) and the funding of any Loans and any Issuance of Letters of Credit on the effective date thereof, Availability shall be not less than $50,000,000;
and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Agent shall have received all fees due and payable by the Borrower in connection with this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">2. <U>Amendment to Credit Agreement</U>. Upon the consummation of the Constellium Acquisition in accordance with <U>Paragraph&nbsp;1</U>
hereof, the Credit Agreement will be amended as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Regions Bank is hereby designated as a Documentation Agent in respect of the
credit facility evidenced by the Credit Agreement, as amended hereby. Accordingly, the cover page of the Credit Agreement is hereby amended to add Regions Bank as a Documentation Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The table set forth on <U>Schedule 1.1(a)</U> of the Credit Agreement is hereby replaced with the following two tables: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="4" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Revolving Loan Commitments On and After the
Commitment Step-Down Date</P></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Electric Capital Corporation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">31,820,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GE Capital Bank</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">45,450,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GE Asset Based Master Note</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">22,730,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bank of America, N.A.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Regions Bank</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">35,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">HVB Capital Credit LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>TOTAL</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">200,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="76%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" COLSPAN="8" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Revolving Loan Commitments Prior to the
Commitment Step-Down Date</P></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">From&nbsp;and&nbsp;including&nbsp;December&nbsp;8,<br>2014 through but excluding<br>March&nbsp;6, 2015</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">From&nbsp;and&nbsp;including&nbsp;March&nbsp;6,<br>2015&nbsp;through&nbsp;but&nbsp;excluding&nbsp;April&nbsp;1,<br>2015</TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">General Electric Capital Corporation</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">125,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">70,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GE Capital Bank</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">100,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">100,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">GE Asset Based Master Note</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Bank of America, N.A.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">62,500,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">50,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Regions Bank</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">43,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">35,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">HVB Capital Credit LLC</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">18,750,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">15,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>TOTAL</B></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">400,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">$</TD>
<TD VALIGN="bottom" ALIGN="right">320,000,000</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE="border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Clause (i)</U>&nbsp;of <U>Section&nbsp;1.1(d)</U> of the Credit Agreement is hereby amended to replace
the figure &#147;180,000,000&#148; set forth therein with the figure &#147;$100,000,000&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Section&nbsp;1.7</U> of the Credit
Agreement is hereby amended to add the following new <U>clause (e)</U>&nbsp;thereto: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) <U>Reallocation of
Obligations</U>. On the effective date of any reduction in Revolving Loan Commitments contemplated in the definition of &#147;<U>Aggregate Revolving Loan Commitment</U>&#148;, (i)&nbsp;each Lender not reducing its Revolving Loan Commitment shall
make available to Agent such amounts in immediately available funds as Agent shall determine, for the benefit of the other Lenders, as being required in order to cause, after giving effect to such reduction and the use of such amounts to make
payments to such other Lenders, each Lender&#146;s portion of the outstanding Revolving Loans of all the Lenders to equal its revised Commitment Percentage of such outstanding Revolving Loans, and Agent shall make such other adjustments among the
Lenders with respect to the Revolving Loans then outstanding and amounts of principal, interest, Unused Commitment Fees and other amounts paid or payable with respect thereto as shall be necessary, as determined by Agent, in order to effect such
reallocation and (ii)&nbsp;the Borrower shall be deemed to have repaid and reborrowed all outstanding Revolving Loans as of the date of any such reduction in Revolving Loan Commitments (with such reborrowing to consist of Base Rate Loans or LIBOR
Rate Loans, with related Interest Periods (if applicable), specified in a notice delivered by the Borrower, in accordance with the requirements of <U>Section&nbsp;1.5(a)</U>). The deemed payments made pursuant to <U>clause&nbsp;(ii)</U> of the
immediately preceding sentence shall be accompanied by payment of all accrued interest on the amount prepaid and, in respect of each LIBOR Rate Loan, shall be subject to reimbursement by the Borrower pursuant to the provisions of
<U>Section&nbsp;9.4</U> if the deemed payment occurs other than on the last day of the related Interest Periods. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)
<U>Section&nbsp;1.11</U> of the Credit Agreement is hereby amended to add the following new <U>clauses (v)</U>&nbsp;and <U>(w)</U>&nbsp;therein (and to make any related punctuation and grammatical changes as a result thereof): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(v) <U>AB Receivables</U>. On and after the AB Receivables Financing Effective Date, AB Receivables; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(w) <U>Material Contracts Event</U>. So long as a Material Contracts Event has occurred and is continuing with respect to any Material
Contract, all Accounts associated with such Material Contract. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Section&nbsp;1.12</U> of the Credit Agreement is hereby amended (i)&nbsp;to re-label the
existing <U>clause (q)</U>&nbsp;as <U>clause (r)</U>, (ii)&nbsp;to add the following as <U>clause (q)</U>&nbsp;therein and (iii)&nbsp;to make any related punctuation and grammatical changes as a result thereof: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(q) <U>Material Contracts Event</U>. So long as a Material Contracts Event has occurred and is continuing with respect to any Material
Contract, all Inventory associated with such Material Contract; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Section&nbsp;2.2(a)</U> of the Credit Agreement is hereby
amended by add the phrase &#147;or Holdco II&#148; immediately following the phrase &#147;Credit Party&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h)
<U>Section&nbsp;3.12</U> of the Credit Agreement is hereby amended by replacing the phrase &#147;Material Environmental Liabilities to the Credit Parties and their Subsidiaries&#148; with the phrase &#147;a Material Adverse Effect&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Section&nbsp;3.15</U> of the Credit Agreement is hereby amended by replacing the phrase &#147;<U>Schedule 3.15</U> sets forth&#148;
with the following phrase: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">As of the most recent delivery date of financial statements pursuant to <U>Section&nbsp;4.1(a)</U>,
<U>4.1(b)</U> or <U>4.1(c)</U>, <U>Schedule 3.15</U> (together with any items separately identified from time to time pursuant to <U>clause (ii)</U>&nbsp;of <U>Section&nbsp;4.2(b)</U>) sets forth </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Exhibit 4.2(b)</U> of the Credit Agreement is hereby amended and restated to read as set forth on <U>Exhibit 4.2(b)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Section&nbsp;4.2(b)</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">concurrently with the delivery of the financial statements referred to in <U>Sections 4.1(a)</U>, <U>4.1(b)</U> and <U>4.1(c)</U>, (i)&nbsp;a
fully and properly completed certificate in the form of <U>Exhibit 4.2(b)</U> (a &#147;<U>Compliance Certificate</U>&#148;), certified on behalf of the Borrower by a Responsible Officer of Holdings and (ii)&nbsp;a list of any items described in
<U>clause (i)</U>, <U>(ii)</U>&nbsp;or <U>(iii)</U>&nbsp;of the first sentence of <U>Section&nbsp;3.15</U> that are neither listed on <U>Schedule 3.15</U> nor previously identified pursuant to this <U>clause (b)(ii)</U>; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Section&nbsp;4.2(d)</U> is hereby amended to insert the phrase &#147;prior to the AB Receivables Financing Effective Date,&#148; at the
beginning of <U>clause (d)(ii)</U> thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>Section&nbsp;4.3</U> of the Credit Agreement is hereby amended to add the following
sentence at the end thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Each notice under <U>Section&nbsp;4.3(l)</U> shall include a copy of the related amendment, termination
agreement, termination notice, notice of breach, or other related documentation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) <U>Section&nbsp;4.9(a)</U> of the Credit Agreement is hereby amended to amend and restate the
proviso in the first sentence thereof to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>provided</U> that, (i)&nbsp;during and prior to the 2015 Fiscal Year, the
Credit Parties shall only be obligated to reimburse Agent for the expenses of two (2)&nbsp;such field examinations, audits and inspections per Fiscal Year, unless (x)&nbsp;Availability is or has been less than the greater of $25,000,000 and 12.5% of
the Aggregate Revolving Loan Commitment during such Fiscal Year or (y)&nbsp;an Event of Default has occurred and is continuing and (ii)&nbsp;after the 2015 Fiscal Year, unless an Event of Default has occurred and is continuing, the Credit Parties
shall only be obligated to reimburse Agent for the expenses of one (1)&nbsp;such field examination, audit and inspection per Fiscal Year (or, if Availability is less than the greater of $50,000,000 and 25% of the Aggregate Revolving Loan Commitment
in any Fiscal Year, for two (2)&nbsp;such field examinations, audits and inspections for such Fiscal Year) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) <U>Section&nbsp;4.9(b)</U>
of the Credit Agreement is hereby amended to amend and restate the proviso set forth therein to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>provided</U> that,
notwithstanding any provision herein to the contrary, (i)&nbsp;during and prior to the 2015 Fiscal Year, the Credit Parties shall only be obligated to reimburse Agent for the expenses of such appraisals occurring two (2)&nbsp;times per Fiscal Year,
unless (x)&nbsp;Availability is or has been less than the greater of $25,000,000 and 12.5% of the Aggregate Revolving Loan Commitment or (y)&nbsp;an Event of Default has occurred and is continuing and (ii)&nbsp;after the 2015 Fiscal Year, unless an
Event of Default has occurred and is continuing, the Credit Parties shall only be obligated to reimburse Agent for the expenses of one (1)&nbsp;such appraisal per Fiscal Year (or, if Availability is less than the greater of $50,000,000 and 25% of
the Aggregate Revolving Loan Commitment in any Fiscal Year, for two (2)&nbsp;such appraisals for such Fiscal Year) </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p)
<U>Section&nbsp;4.13(b)</U> of the Credit Agreement is hereby amended to amend and restate the second and third sentences thereof to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Without limiting the generality of the foregoing and except as otherwise approved in writing by Required Lenders, the Credit Parties shall
cause (i)&nbsp;each of their Restricted Subsidiaries (other than Excluded Subsidiaries and AB Receivables Subsidiaries), promptly after formation or acquisition thereof, to guaranty the Obligations, (ii)&nbsp;each such Restricted Subsidiary (other
than Excluded Subsidiaries and AB Receivables Subsidiaries) to grant to Agent, for the benefit of the Secured Parties, a security interest in, subject to the limitations set forth herein and in the Collateral Documents, all of such Subsidiary&#146;s
Property to secure such guaranty and (iii)&nbsp;Holdco II to guaranty the Obligations. Furthermore and except as otherwise approved in writing by Required Lenders, each Credit Party shall pledge, and shall cause each of its Restricted Subsidiaries
(other than Excluded Subsidiaries and AB Receivables Subsidiaries) to pledge, all of the Stock and Stock Equivalents of each of its Restricted Subsidiaries (other than Excluded Subsidiaries and AB Receivables Subsidiaries) and sixty-six percent
(66%)&nbsp;of the outstanding voting Stock and Stock Equivalents and one hundred percent (100%)&nbsp;of outstanding non-voting Stock and Stock Equivalents of each Excluded Subsidiary directly owned by a Credit Party, in each instance, to Agent, for
the benefit of the Secured Parties, to secure the Obligations, promptly after formation or acquisition of such Subsidiary. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) <U>Section&nbsp;4.13</U> of the Credit Agreement is hereby amended to add the following new
<U>clause (e)</U>&nbsp;therein: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary herein, no AB Receivables Subsidiary shall be required to
(i)&nbsp;guaranty the Obligations or (ii)&nbsp;grant to Agent, for the benefit of the Secured Parties, a security interest in, any of such AB Receivables Subsidiary&#146;s Property. Furthermore, no Restricted Subsidiary shall be required to pledge
to Agent, for the benefit of the Secured Parties, any Stock or Stock Equivalents of any AB Receivables Subsidiary. Agent and the Secured Parties agree to release all Liens over any AB Receivables in connection with their transfer to an AB
Receivables Subsidiary or their sale, transfer or pledge under any AB Qualified Receivables Financing permitted to be entered into pursuant to the Loan Documents, and will execute any documents and prepare and make any filings reasonably requested
by the Borrower (at the sole cost and expense of the Borrower), and in form and substance approved by Agent in its reasonable discretion, as may be necessary to evidence such release. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) <U>Section&nbsp;4.14</U> of the Credit Agreement is hereby amended by replacing the phrase &#147;Material Environmental Liability&#148;
with the phrase &#147;Material Adverse Effect&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(s) A new <U>Section&nbsp;4.15</U> of the Credit Agreement shall be inserted and
shall read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>OFAC; Patriot Act</U>. Each Credit Party shall comply, and each Credit Party shall cause each of its Restricted
Subsidiaries to comply, in all material respects, with all laws, regulations and executive orders referred to in <U>Sections&nbsp;3.27</U> and <U>3.28</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(t) <U>Section&nbsp;5.1</U> of the Credit Agreement is hereby amended to add the following new <U>clause (r)</U>&nbsp;therein (and making any
related punctuation and grammatical changes as a result thereof): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(r) Liens on AB Receivables in connection with AB Qualified Receivables
Financings permitted hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(u) <U>Section&nbsp;5.2</U> of the Credit Agreement is hereby amended to add the following new <U>clause
(f)</U>&nbsp;therein (and making any related punctuation and grammatical changes as a result thereof): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(f) dispositions of AB Receivables
pursuant to an AB Qualified Receivables Financing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) <U>Section&nbsp;5.3</U> of the Credit Agreement is hereby amended to add a new
<U>clause (iv)</U>&nbsp;therein to read as follows (and making any related punctuation and grammatical changes as a result thereof): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(iv)
with respect to any AB Receivables Subsidiary, the sale of all or substantially all of the AB Receivables of such AB Receivables Subsidiary in one or more transactions pursuant to any AB Qualified Receivables Financing </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(w) <U>Section&nbsp;5.3</U> of the Credit Agreement is hereby amended to add a new <U>clause
(z)</U>&nbsp;to the proviso therein to read as follows (and making any related punctuation and grammatical changes as a result thereof): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(z) no prior written notice to Agent shall be required pursuant to this <U>Section&nbsp;5.3</U> for the sale described in
<U>clause&nbsp;(iv)</U>&nbsp;above </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(x) <U>Section&nbsp;5.4</U> of the Credit Agreement is hereby amended (i)&nbsp;to re-label the
existing <U>clause (k)</U>&nbsp;as <U>clause (l)</U>, (ii)&nbsp;to add the following as <U>clause (k)</U>&nbsp;therein and (iii)&nbsp;to make any related punctuation and grammatical changes as a result thereof: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(k) reasonable and customary Investments (including, to the extent reasonable and customary, capital contributions, intercompany debt or other
extensions of credit) in any AB Receivables Subsidiary in connection with any AB Qualified Receivables Financing; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(y)
<U>Section&nbsp;5.5</U> of the Credit Agreement is hereby amended to add the following new <U>clause (j)</U>&nbsp;therein (and making any related punctuation and grammatical changes as a result thereof): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(j) Indebtedness incurred under any AB Qualified Receivables Financing; <U>provided</U> that, the aggregate principal amount at any time
outstanding pursuant to this <U>clause (j)</U>&nbsp;shall not exceed $300,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(z) <U>Section&nbsp;5.6</U> of the Credit Agreement is
hereby amended and restated to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">No Credit Party shall, and no Credit Party shall suffer or permit any of its Restricted
Subsidiaries to, enter into any transaction with any Affiliate of Holdings or of any such Restricted Subsidiary unless the following conditions are met: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(a) the transaction or series of transactions must be on terms which are not materially less favorable to Holdings or the Restricted
Subsidiary, taken as a whole, as would be available in a comparable transaction with an unrelated third party; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(b) if the transaction
or series of transactions involves: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">(i) aggregate payments of $10,000,000 or more, then the transaction or series of transactions must be
approved by Holdings&#146; board of directors, including the approval of a majority of directors who are disinterested in the transaction or transactions being approved, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; font-size:10pt; font-family:Times New Roman">(ii) aggregate payments of $20,000,000 or more, then Holdings or the Restricted Subsidiary must receive an opinion issued by an independent
accounting, appraisal or investment banking firm of national standing stating that such transaction or series of transactions is fair to Holdings or such Restricted Subsidiary from a financial point of view; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>provided</U> that, this <U>Section&nbsp;5.6</U> shall not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(1) any employment, compensation or severance arrangement or transactions relating to benefit plans or similar arrangements, in each case,
entered into in the Ordinary Course of Business, with any employee, contractor, consultant, director or officer of Holdings or any Restricted Subsidiary approved by Holdings&#146; board of directors; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(2) payment of reasonable and customary fees, benefits and reimbursements of expenses (pursuant to indemnity arrangements or otherwise) of
officers, directors, employees, contractors or consultants of Holdings or any Restricted Subsidiary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(3) loans and advances (or
cancellations of loans or advances) to employees, consultants, directors and officers of Holdings or any Subsidiary in the Ordinary Course of Business for bona fide business purposes of Holdings and its Restricted Subsidiaries otherwise permitted
pursuant to the terms of this Agreement and applicable law; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(4) (x)&nbsp;Investments that are permitted by <U>Section&nbsp;5.4</U>,
(y)&nbsp;Subordinated Indebtedness that is permitted by <U>Section&nbsp;5.5(f)</U> and (z)&nbsp;Restricted Payments that are permitted by <U>Section&nbsp;5.10</U>; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(5) issuances of Stock or Stock Equivalents (other than Disqualified Stock) of Holdings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(6) any transaction between or among (x)&nbsp;Credit Parties or (y)&nbsp;Restricted Subsidiaries that are not Credit Parties; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(7) transactions with customers, clients, suppliers, joint ventures, joint venture partners, partnerships, partners or purchasers or sellers
of goods or services so long as the terms of any such transactions meet the requirements of <U>clause (a)</U>&nbsp;of the first paragraph of this covenant; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(8) transactions in which Holdings or any of its Restricted Subsidiaries, as the case may be, (x)&nbsp;obtains a letter from an accounting,
appraisal or investment banking firm of national standing stating that such transaction is fair to Holdings or the relevant Restricted Subsidiary from a financial point of view or stating that the terms are not materially less favorable to Holdings
or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by Holdings or such Restricted Subsidiary with an unrelated Person and (y)&nbsp;such letter is delivered to Agent prior to the consummation of
any such transactions; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(9) any transactions in connection with any AB Qualified Receivables Financing permitted hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything to the contrary herein, if any Credit Party or any of its Restricted Subsidiaries enters into any transaction with
any Affiliate of any Credit Party or any Restricted Subsidiary that involves payments or receipts in excess of $20,000,000 in the aggregate, the terms of such transaction must be disclosed in writing in advance to Agent; <U>provided</U> that, no
such disclosure to Agent shall be required if such transaction satisfies the condition set forth in <U>clause (8)</U>&nbsp;of the proviso to this <U>Section&nbsp;5.6</U>. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(aa) <U>Section&nbsp;5.8</U> of the Credit Agreement is hereby amended (i)&nbsp;to re-label the
existing <U>clause (j)</U>&nbsp;as <U>clause (k)</U>, (ii)&nbsp;to add the following as new <U>clause (j)</U>&nbsp;therein and (iii)&nbsp;to make any related punctuation and grammatical changes as a result thereof: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(j) Contingent Obligations in respect of any AB Qualified Receivables Financing; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(bb) <U>Section&nbsp;5.9</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>Compliance with ERISA</U>. No ERISA Affiliate shall cause or suffer to exist (a)&nbsp;any event that could reasonably be expected to result
in the imposition of a Lien on any asset of a Credit Party or a Restricted Subsidiary of a Credit Party with respect to any Title IV Plan or Multiemployer Plan or (b)&nbsp;any other ERISA Event, that would, in the aggregate, have a Material Adverse
Effect. No Credit Party shall cause or suffer to exist any event that could reasonably be expected to result in the imposition of a Lien with respect to any Benefit Plan. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(cc) <U>Section&nbsp;5.10(e)</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(e) the Credit Parties may pay, as and when due and payable, (i)&nbsp;non-accelerated mandatory payments in respect of Subordinated
Indebtedness and (ii)&nbsp;regularly scheduled interest payments in respect of intercompany Subordinated Indebtedness permitted pursuant to Section&nbsp;5.5, in each case, solely to the extent permitted under the subordination terms with respect
thereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(dd) <U>Section&nbsp;5.10(g)</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">if, both before and after giving effect thereto, no Event of Default has occurred and is continuing, the Credit Parties and their Restricted
Subsidiaries may make (i)&nbsp;other Restricted Payments in an amount not to exceed $7,500,000 in any Fiscal Year and (ii)&nbsp;additional Restricted Payments in excess of $7,500,000 if, both before and after giving effect to such additional
Restricted Payments under this <U>clause (ii)</U>, (x)&nbsp;Availability is not less than the greater of $50,000,000 and 25% of the Aggregate Revolving Commitment at such time and (y)&nbsp;the Fixed Charge Coverage Ratio, calculated on a pro forma
basis (including after giving effect to any such additional Restricted Payments) for the twelve month period ending as of the last day of the most recently ended fiscal month for which financial statements have been or were required to be delivered
under <U>Section&nbsp;4.1</U>, is not less than 1.10 to 1.00; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ee) <U>Section&nbsp;5.10</U> of the Credit Agreement is hereby amended
to add the following new <U>clause (h)</U>&nbsp;therein (and making any related punctuation and grammatical changes as a result thereof): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(h) the Credit Parties and their Restricted Subsidiaries may make other Restricted Payments of the type described in <U>clause
(iv)</U>&nbsp;of the definition thereof using solely the direct proceeds of any cash contribution or loan to any Credit Party, directly or indirectly, from Parent or any of its Subsidiaries (other than Holdings and its Subsidiaries). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ff) <U>Section&nbsp;5.11</U> of the Credit Agreement is hereby amended and restated to read as
follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to, engage in any line of business
other than (x)&nbsp;lines of business substantially similar to those lines of business carried on by it on the Closing Date, (y)&nbsp;the &#147;body-in-white&#148; business and (z)&nbsp;other businesses reasonably complementary to the foregoing or
reasonable extensions, developments or expansions thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(gg) <U>Section&nbsp;5.14(a)</U> of the Credit Agreement is hereby amended and
restated to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>[Intentionally Omitted]</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(hh) <U>Section&nbsp;5.15</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to, directly or indirectly, create or otherwise
cause or suffer to exist or become effective any consensual encumbrance of any kind on the ability of any Credit Party or Restricted Subsidiary to pay dividends or make any other distribution on any of such Credit Party&#146;s or Subsidiary&#146;s
Stock or Stock Equivalents to any Credit Party or to pay fees, including management fees, to any Credit Party or make other payments and distributions to any Credit Party, other than pursuant to (i)&nbsp;the Senior Notes Documents or (ii)&nbsp;any
AB Receivables Financing. No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to, directly or indirectly, enter into, assume or become subject to any Contractual Obligation prohibiting or otherwise restricting
the existence of any Lien upon any of its assets in favor of Agent, whether now owned or hereafter acquired except in connection with any document or instrument governing (i)&nbsp;Liens permitted pursuant to <U>Section&nbsp;5.1(h)</U>,
<U>5.1(i)</U>, <U>5.1(p)</U> or <U>5.1(r)</U> provided that any such restriction contained therein relates only to the asset or assets subject to such permitted Liens or the Other Debt Documents or (ii)&nbsp;intercompany Subordinated Indebtedness
permitted pursuant to <U>Section&nbsp;5.5</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) <U>Section&nbsp;5.16</U> of the Credit Agreement is hereby amended and restated to
read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">No Credit Party shall, and no Credit Party shall permit any of its Restricted Subsidiaries to use any part of the
proceeds of any Loan or Letter of Credit for any purpose which would cause any party hereto to be in violation of any laws, regulations or executive orders referred to in <U>Section&nbsp;3.27</U> or <U>3.28</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(jj) <U>Section&nbsp;5.18</U> of the Credit Agreement is hereby amended by replacing the phrase &#147;result in Material Environmental
Liabilities&#148; with the phrase &#147;have a Material Adverse Effect&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(kk) <U>Section&nbsp;5.19</U> of the Credit Agreement is hereby amended to add the following as
new clauses (f)&nbsp;and (g)&nbsp;(and making any related punctuation and grammatical changes as a result thereof): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(f) prepayment of
Indebtedness permitted under <U>Section&nbsp;5.5(h)</U> using solely the direct proceeds of any cash contribution or loan to any Credit Party, directly or indirectly, from Parent or any of its Subsidiaries (other than Holdings and its Subsidiaries),
so long as, both before and after giving effect to such prepayment, no Event of Default shall have occurred and be continuing, and (g)&nbsp;any other prepayments of Indebtedness (other than Subordinated Indebtedness), so long as, both before and
after giving effect to such prepayment, (i)&nbsp;no Event of Default shall have occurred and be continuing, (ii)&nbsp;Availability is not less than the greater of $50,000,000 and 25% of the Aggregate Revolving Commitment and (iii)&nbsp;the Fixed
Charge Coverage Ratio, calculated on a pro forma basis (including after giving effect to any such additional prepayment) for the twelve month period ending as of the last day of the most recently ended fiscal month for which financial statements
have been or were required to be delivered under <U>Section&nbsp;4.1</U>, is not less than 1.10 to 1.00. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ll) <U>Section&nbsp;5.20</U> of
the Credit Agreement is hereby amended and restated to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">If a Trigger Event has occurred and is continuing, such Credit
Party shall not permit the Fixed Charge Coverage Ratio for the twelve month period ending as of the last day of the most recently ended fiscal month for which financial statements have been or were required to be delivered pursuant to
<U>Section&nbsp;4.1</U> to be less than 1.00 to 1.00. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(mm) <U>Section&nbsp;6.1</U> of the Credit Agreement is hereby amended to
(i)&nbsp;replace the phrase &#147;Any Credit Party&#148; set forth in <U>clause&nbsp;(a)</U>, with the phrase &#147;Holdco II or any Credit Party&#148;, (ii)&nbsp;insert the phrase &#147;Holdco II,&#148; immediately prior to the phrase &#147;any
Credit Party&#148; in <U>clause (b)(i)</U>, and (iii)&nbsp;replace the phrase &#147;Any Credit Party&#148; set forth in <U>clause (d)</U>, with the phrase &#147;Holdco II or any Credit Party&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(nn) <U>Section&nbsp;6.1(c)</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>Specific Defaults</U>. Any Credit Party fails to perform or observe any term, covenant or agreement contained in (i)&nbsp;any of
<U>Section&nbsp;4.2(a)</U>, <U>4.2(b)</U>, <U>4.2(d)</U>, <U>4.3(a)</U>, <U>4.9</U>, <U>4.10</U>, <U>4.11</U> or <U>8.10(b)</U> or <U>Article V</U>, (ii)&nbsp;<U>Section&nbsp;4.1</U> or (iii)&nbsp;<U>Section&nbsp;4.6</U> and, in the case of
<U>clauses (ii)</U>&nbsp;and <U>(iii)</U>, such default shall continue unremedied for a period of five (5)&nbsp;days (in the case of <U>clause (ii)</U>) or fifteen (15)&nbsp;days (in the case of <U>clause (iii)</U>) after the earlier to occur of
(x)&nbsp;the date upon which a Responsible Officer of any Credit Party becomes aware of such failure and (y)&nbsp;the date upon which written notice thereof is given to the Borrower by Agent or the Required Lenders; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(oo) <U>Section&nbsp;6.1(e)</U> of the Credit Agreement is hereby amended to replace the reference to the figure &#147;$5,000,000&#148; set
forth therein with the figure &#147;$25,000,000&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(pp) <U>Section&nbsp;6.1(h)</U> of the Credit Agreement is hereby amended to
replace the reference to the figure &#147;$5,000,000&#148; set forth therein with the figure &#147;$25,000,000&#148;. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(qq) <U>Section&nbsp;6.1(j)</U> of the Credit Agreement is hereby amended and restated to read as
follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>Collateral</U>. Any material provision of any Loan Document shall for any reason cease to be valid and binding on or
enforceable against Holdco II, any Credit Party or any Restricted Subsidiary of any Credit Party party thereto or Holdco II, any Credit Party or any Restricted Subsidiary of any Credit Party shall so state in writing or bring an action to limit its
obligations or liabilities thereunder; or any Collateral Document shall for any reason (other than pursuant to the terms thereof) cease to create a valid security interest in the Collateral purported to be covered thereby or such security interest
shall for any reason (other than the failure of Agent to take any action within its control where Agent had received express written notice in a timely manner of the facts and circumstances necessitating such action) cease to be a perfected and
first priority security interest subject only to Permitted Liens; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(rr) <U>Section&nbsp;6.1(k)</U> of the Credit Agreement is hereby
amended and restated to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>Ownership</U>. (i)&nbsp;Parent becomes aware (by way of a report or any other filing pursuant
to Section&nbsp;13(d) of the Exchange Act, proxy, vote, written notice or otherwise) of the acquisition by any Person or group (within the meaning of Section&nbsp;13(d)(3) or Section&nbsp;14(d)(2) of the Exchange Act, or any successor provision),
including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Securities Exchange Act of 1934), in a single transaction or in a related series of transactions, by way of
merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision), of more than 50% of the aggregate ordinary voting power represented by the
issued and outstanding Stock and Stock Equivalents of Parent; <U>provided</U>, <U>however</U>, that any entity that conducts no material activities other than holding Stock and Stock Equivalents of Parent or any direct or indirect parent of Parent
and has no other material assets or liabilities other than such Stock and Stock Equivalents will not be considered a &#147;Person or group&#148; for purposes of this <U>clause (i)</U>, (ii)&nbsp;Parent ceases to own, directly or indirectly, one
hundred percent (100%)&nbsp;of the issued and outstanding Stock and Stock Equivalents of Holdco II; (iii)&nbsp;Holdco II ceases to own, directly or indirectly, one hundred percent (100%)&nbsp;of the issued and outstanding Stock and Stock Equivalents
of Holdings; (iv)&nbsp;Holdings ceases to own one hundred percent (100%)&nbsp;of the issued and outstanding Stock and Stock Equivalents of the Borrower, in the case of <U>clause (iv)</U>&nbsp;only, free and clear of all Liens, rights, options,
warrants or other similar agreements or understandings, other than Liens in favor of Agent, for the benefit of the Secured Parties and Liens permitted under <U>Section&nbsp;5.1(p)</U>; or (v)&nbsp;&#147;Change of Control&#148; (as defined in any
Other Debt Document) shall occur after the consummation of the Constellium Acquisition; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ss) <U>Section&nbsp;6.1(m)</U> of the Credit
Agreement is hereby amended and restated to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(m) <U>AB Receivables Facility</U>. The AB Receivables Financing Effective
Date shall not have occurred by March&nbsp;31, 2015. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(tt) <U>Section&nbsp;6.1</U> of the Credit Agreement is hereby amended to add the following as a
new <U>clause (n)</U>&nbsp;(and making any related punctuation and grammatical changes as a result thereof): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(n) <U>Availability after
Material Contract Event</U>. A Material Contracts Event occurs and, at all times during the seven (7)&nbsp;consecutive Business Day period following such occurrence, (i)&nbsp;such Material Contracts Event is continuing and (ii)&nbsp;Availability
(calculated after giving effect to any reduction in the Borrowing Base pursuant to <U>Sections 1.11(w)</U> and <U>1.12(q)</U>) shall be less than the greater of $50,000,000 and 25% of the Aggregate Revolving Loan Commitment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(uu) <U>Section&nbsp;7.12</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>Documentation Agent and Syndication Agent</U>. Notwithstanding any provision to the contrary contained elsewhere in this Agreement or in
any other Loan Document, the Documentation Agent and Syndication Agent shall not have any duties or responsibilities, nor shall the Documentation Agent and Syndication Agent have or be deemed to have any fiduciary relationship with any Lender, and
no implied covenants, functions, responsibilities, duties, obligations or liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against the Documentation Agent and Syndication Agent. At any time that any Lender
serving (or whose Affiliate is serving) as Documentation Agent and/or Syndication Agent shall have transferred to any other Person (other than any Affiliates) all of its interests in the Loans and the Revolving Loan Commitment, such Lender (or an
Affiliate of such Lender acting as Documentation Agent or Syndication Agent) shall be deemed to have concurrently resigned as such Documentation Agent and/or Syndication Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vv) <U>Section&nbsp;10.1</U> of the Credit Agreement is hereby amended to delete the term &#147;<U>Amendment No.&nbsp;3 Effective
Date</U>&#148; and the related definition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ww) The definitions of &#147;<U>Aggregate Revolving Loan Commitment</U>&#148;,
&#147;<U>Dominion Period</U>&#148; and &#147;<U>Trigger Event</U>&#148; in <U>Section&nbsp;10.1</U> of the Credit Agreement are hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;<U>Aggregate Revolving Loan Commitment</U>&#148; means the combined Revolving Loan Commitments of the Lenders, which shall be
(a)&nbsp;prior to the Commitment Step-Down Date, (x)&nbsp;$400,000,000 from and including December&nbsp;8, 2014 through but excluding March&nbsp;6, 2015 and (i)&nbsp;$320,000,000 from and including March&nbsp;6, 2015 through but excluding
April&nbsp;1, 2015 and (b)&nbsp;on and after the Commitment Step-Down Date, $200,000,000, in each case, as such amount may be reduced from time to time pursuant to this Agreement or increased as a result of Incremental Revolving Loan Commitments.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dominion Period</U>&#148; means any period (i)&nbsp;commencing on the date on which (x)&nbsp;an Event of Default has occurred
and is continuing or (y)&nbsp;Availability as of any date is less than (A)&nbsp;at any time prior to the Commitment Step-Down Date, $40,000,000 and (B)&nbsp;on and after the Commitment Step-Down Date, the greater of $25,000,000 and 12.5% of the
Aggregate Revolving Loan Commitment and (ii)&nbsp;ending on the first subsequent date on which (x)&nbsp;no Event of Default exists and (y)&nbsp;Availability shall have been at least equal to (A)&nbsp;at any time prior to the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">
Commitment Step-Down Date, $40,000,000 and (B)&nbsp;on and after the Commitment Step-Down Date, the greater of $25,000,000 and 12.5% of the Aggregate Revolving Loan Commitment, in either case,
for a period of 30 consecutive calendar days; <U>provided</U> that, to the extent any Dominion Period is in effect prior to the Constellium Acquisition, such existing Dominion Period shall be deemed to have terminated immediately prior to the
consummation of the Constellium Acquisition. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trigger Event</U>&#148; means any time that Availability shall be less than
(a)&nbsp;at any time prior to the Commitment Step-Down Date, $32,000,000 and (b)&nbsp;on and after the Commitment Step-Down Date, the greater of $20,000,000 and 10% of the Aggregate Revolving Loan Commitment at such time. Upon the occurrence of a
Trigger Event, such Trigger Event shall be deemed to be continuing until the date that is the first date on which at all times during the preceding thirty (30)&nbsp;consecutive days, Availability shall have been at least equal to (i)&nbsp;at any
time prior to the Commitment <FONT STYLE="white-space:nowrap">Step-Down</FONT> Date, $32,000,000 and (ii)&nbsp;on and after the Commitment Step-Down Date, the greater of $20,000,000 and 10% of the Aggregate Revolving Loan Commitment. Notwithstanding
the foregoing, to the extent any Trigger Event is in effect prior to the Constellium Acquisition, such existing Trigger Event shall be deemed to have terminated immediately prior to the consummation of the Constellium Acquisition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xx) <U>Clause (a)</U>&nbsp;of the definition of &#147;<U>Borrowing Base</U>&#148; in <U>Section&nbsp;10.1</U> of the Credit Agreement is
hereby amended to replace the phrase &#147;Anheuser-Busch or Coca-Cola&#148; with the phrase &#147;Coca-Cola or, prior to the AB Receivables Financing Effective Date, Anheuser-Busch&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(yy) The definition of &#147;<U>Loan Documents</U>&#148; in <U>Section&nbsp;10.1</U> of the Credit Agreement is hereby amended to add the
phrase &#147;the Holdco II Guaranty,&#148; immediately prior to the phrase &#147;the Intercreditor Agreement,&#148;. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(zz) <U>Clause
(a)(ii)</U> of the definition of &#147;<U>Permitted Acquisition</U>&#148; in <U>Section&nbsp;10.1</U> of the Credit Agreement is hereby amended and restated to read as follows: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(ii) a certificate of a Responsible Officer of the Borrower demonstrating on a pro forma basis after giving effect to the consummation of such
Acquisition that either (x)&nbsp;Availability as of the date of the consummation of the Acquisition will be not less than the greater of (A)&nbsp;$56,250,000 (or, at any time prior to the Commitment Step-Down Date, $90,000,000) and (B)&nbsp;30% of
the Aggregate Revolving Commitment as of such date or (y)&nbsp;Availability as of the date of the consummation of the Acquisition will be not less than the greater of (A)&nbsp;$31,250,000 (or, at any time prior to the Commitment Step-Down Date,
$50,000,000) and (B)&nbsp;15% of the Aggregate Revolving Commitment as of such date and, in the case of this <U>clause (y)</U>, the Fixed Charge Coverage Ratio, calculated on a pro forma basis for the twelve month period ending as of the last day of
the most recent Fiscal Quarter preceding the date on which the Acquisition will be consummated for which financial statements have been delivered, will be greater than 1.05 to 1.00; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(aaa) The definition of &#147;<U>Subordinated Indebtedness</U>&#148; in <U>Section&nbsp;10.1</U>
of the Credit Agreement is hereby amended to add the following proviso at the end thereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman"><U>provided</U> that, without limiting the
foregoing, intercompany Indebtedness of any Credit Party or any Restricted Subsidiary to Parent or any of its Subsidiaries (other than any Credit Party or any Restricted Subsidiary) shall not constitute &#147;Subordinated Indebtedness&#148; unless
(i)&nbsp;the maturity date of such Indebtedness occurs after the date set forth in <U>clause (a)</U>&nbsp;of the definition of &#147;Revolving Termination Date,&#148; (ii)&nbsp;the interest rate applicable to such Indebtedness is no greater than 8%
and (iii)&nbsp;no principal installments or other amortization of principal shall be required in respect of such Indebtedness prior to the maturity date </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(bbb) The definition of &#147;<U>Weekly Reporting Period</U>&#148; in <U>Section&nbsp;10.1</U> of the Credit Agreement is hereby amended and
restated to read as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Weekly Reporting Period</U>&#148; means any period commencing on the date on which
Availability is less than the greater of $20,000,000 (or, at any time prior to the Commitment Step-Down Date, $32,000,000) and 10% of the Aggregate Revolving Loan Commitment and ending on the first subsequent date, if any, on which Availability is
greater than or equal to the greater of $20,000,000 (or, at any time prior to the Commitment Step-Down Date, $32,000,000) and 10% of the Aggregate Revolving Loan Commitment for a period of thirty (30)&nbsp;consecutive days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ccc) <U>Section&nbsp;10.1</U> of the Credit Agreement is hereby amended by adding the following new defined terms in the appropriate
alphabetical order: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AB Qualified Receivables Financing</U>&#148; means any AB Receivables Financing that meets
the following conditions: (a)&nbsp;the Borrower shall have determined in good faith that such AB Receivables Financing (including financing terms, covenants, termination events and other provisions) is in the aggregate economically fair and
reasonable to the Borrower or, as the case may be, the Subsidiary in question; (b)&nbsp;all sales of AB Receivables are made at fair market value; and (c)&nbsp;the financing terms, covenants, termination events and other provisions thereof shall be
market terms (as determined in good faith by the Borrower) and may include AB Standard Undertakings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AB
Receivables</U>&#148; means, collectively, Accounts for which the related Account Debtor is Anheuser-Busch and/or its Affiliates (other than Envases y Tapas Modelo, S. de R.L. de C.V.). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AB Receivables Financing</U>&#148; means any transaction or series of transactions that may be entered into by any of
Holdings or its Subsidiaries pursuant to which Holdings or such Subsidiary may sell, convey or otherwise transfer to any other Person, or may grant a security interest in, any AB Receivables (whether now existing or arising in the future) of such
Subsidiary, including, without limitation, all collateral securing such AB Receivables, all contracts and all guarantees or other obligations in respect of such AB Receivables, proceeds of such AB Receivables and other assets, in each case, which
are customarily transferred in or in respect of which security interests are customarily granted in connection with asset securitization transactions or factoring transactions involving accounts receivable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AB Receivables Financing Effective Date</U>&#148; means the effective
date of an AB Qualified Receivables Financing, pursuant to which the Credit Parties shall have sold, conveyed, or otherwise transferred all existing AB Receivables of the Credit Parties permitted to be included in such AB Qualified Receivables
Financing pursuant to the terms thereof to one or more AB Receivables Subsidiaries and/or any other Person on terms and conditions reasonably acceptable to Agent (including providing prior written notice to Agent of the effectiveness thereof and, if
requested by Agent, requiring any lender or purchaser in connection with such AB Qualified Receivables Financing to enter into an intercreditor agreement with Agent relating to payments received in respect of AB Receivables). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AB Receivables Subsidiary</U>&#148; means a Wholly Owned Subsidiary of Holdings (or another Person formed for the
purposes of engaging in AB Qualified Receivables Financing with the Borrower in which Holdings or any Subsidiary of Holdings makes an Investment and to which Holdings or any Subsidiary of Holdings transfers AB Receivables) which engages in no
activities other than in connection with the financing or sale of AB Receivables of Holdings and its Subsidiaries, all proceeds thereof and all rights (contractual or other), collateral and other assets relating thereto, and any business or
activities incidental or related to such business, and which is designated by the Borrower as an AB Receivables Subsidiary and: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which (i)&nbsp;is guaranteed by
Holdings or any other Subsidiary of Holdings (excluding guarantees of obligations (other than the principal of and interest on, Indebtedness) pursuant to AB Standard Undertakings), (ii)&nbsp;is recourse to or obligates Holdings or any other
Subsidiary of Holdings in any way other than pursuant to AB Standard Undertakings, or (iii)&nbsp;subjects any property or asset of Holdings or any other Subsidiary of Holdings, directly or indirectly, contingently or otherwise, to the satisfaction
thereof, other than pursuant to AB Standard Undertakings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) with which neither Holdings nor any other Subsidiary of
Holdings has any material contract, agreement, arrangement or understanding other than on terms which the Borrower reasonably believes to be no less favorable to Holdings or such Subsidiary than those that might be obtained at the time from Persons
that are not Affiliates of the Borrower; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) to which neither Holdings nor any other Subsidiary of Holdings has any
obligation to maintain or preserve such entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>AB Standard Undertakings</U>&#148; means representations, warranties, covenants, indemnities and guarantees of
performance entered into by Holdings or any Subsidiary of Holdings that are determined by Holdings in good faith to be customary for an AB Receivables Financing, including, without limitation, those relating to the servicing of assets of a
Subsidiary. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Amendment No.&nbsp;4 Effective Date</U>&#148; means December&nbsp;23,
2014. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commitment Step-Down Date</U>&#148; means the earlier of (i)&nbsp;the AB Receivables Financing Effective
Date and (ii)&nbsp;April&nbsp;1, 2015. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Constellium Acquisition</U>&#148; has the meaning set forth in the
Consent and Amendment No.&nbsp;4 to this Agreement, dated as of the Amendment No.&nbsp;4 Effective Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the
Securities and Exchange Commission promulgated thereunder. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Holdco II</U>&#148; means Constellium Holdco II B.V.,
a private limited liability company organized under the laws of Netherlands. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Holdco II Guaranty</U>&#148; means
that certain Guaranty, dated as of the date of the consummation of the Constellium Acquisition, by Holdco II in favor of Agent, for the benefit of the Secured Parties, as the same may be amended, restated, supplemented and/or otherwise modified from
time to time. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Contracts Event</U>&#148; means, with respect to any Material Contract, the occurrence of
any of the following events: (a)&nbsp;any material default or breach by the Borrower under such Material Contract or (b)&nbsp;the termination of such Material Contract for any reason. For purposes of clarity, the occurrence of each material default
or breach by the Borrower under a Material Contract shall constitute a &#147;Material Contracts Event,&#148; regardless of whether a material default or breach under such Material Contract has already occurred and/or the circumstances giving rise to
such Material Contracts Event shall be continuing. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Parent</U>&#148; means Constellium N.V., a public company
with limited liability existing under the laws of Netherlands. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">3. <U>Waiver</U>. Agent and Lenders hereby waive the Specified Default;
<U>provided</U> that, the Borrower shall furnish to Agent and each Lender by Electronic Transmission, on or prior to February&nbsp;27, 2015 (such date, the &#147;<U>Specified Date</U>&#148;), projections of the Credit Parties and their Restricted
Subsidiaries&#146; consolidated and consolidating financial performance for the 2015 Fiscal Year on a month-by-month basis and for each Fiscal Year thereafter through the 2018 Fiscal Year on a year-by-year basis. It is hereby understood and agreed
that if the Borrower fails to furnish such projections by the Specified Date, the foregoing waiver shall cease to be effective and Agent and Lenders shall have all the rights and remedies afforded by the Credit Agreement and the other Loan Documents
as if such waiver had never been granted. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">4. <U>Effectiveness of this Amendment; Condition Precedent</U>. This Amendment shall be deemed
to have become effective as of the date hereof, but such effectiveness shall be expressly conditioned upon Agent&#146;s receipt of a counterpart of this Amendment executed and delivered by duly authorized officers of the Borrower, each other Credit
Party, the Required Lenders and Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">5. <U>Notice of Constellium Acquisition and Amendments to Purchase Agreement</U>. The Credit
Parties shall promptly (and in any event no later than one (1)&nbsp;Business Day after a Responsible Officer of any Credit Party becomes aware thereof) (a)&nbsp;notify Agent of the consummation of the Constellium Acquisition and (b)&nbsp;provide
Agent copies of any material amendments, modifications, consents or waivers in respect of the Purchase Agreement that occur on or after the date hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">6. <U>Miscellaneous</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Headings</U>. The various headings of this Amendment are inserted for convenience of reference only and shall not affect the meaning or
interpretation of this Amendment or any provisions hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Counterparts</U>. This Amendment may be executed by the parties hereto
in several counterparts, each of which shall be deemed to be an original and all of which together shall be deemed to be one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by facsimile or other
electronic transmission shall be effective as delivery of a manually executed counterpart thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Interpretation</U>. No
provision of this Amendment shall be construed against or interpreted to the disadvantage of any party hereto by any court or other governmental or judicial authority by reason of such party&#146;s having or being deemed to have structured, drafted
or dictated such provision. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Representations and Warranties</U>. Each Credit Party hereby represents and warrants that, as of the
date hereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) this Amendment and the Credit Agreement, as amended hereby, constitute the legal, valid and binding
obligation of such Credit Party, enforceable against it in accordance with their respective terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditor&#146;s rights
generally or by equitable principles relating to enforceability; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) its execution, delivery and performance of this
Amendment and its performance of the Credit Agreement, as amended hereby, have been duly authorized by all necessary action, and do not and will not: (1)&nbsp;contravene the terms of its Organizational Documents, (2)&nbsp;conflict with or result in
any material breach or contravention of, or result in the creation of any Lien under, any document evidencing any material Contractual Obligation to which it is a party or any order, injunction, writ or decree of any Governmental Authority to which
it or its Property is subject, or (3)&nbsp;violate any Requirement of Law in any material respect; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) after giving
effect to this Amendment, (1)&nbsp;no Default or Event of Default has occurred and is continuing and (2)&nbsp;each representation and warranty of such Credit Party contained in the Credit Agreement and in each other Loan Document to which it is a
party is true and correct in all material respects (without duplication of any materiality qualifier contained therein), except to the extent that such representation or warranty expressly relates to an earlier date (in which event such
representation or warranty is true and correct in all material respects (without duplication of any materiality qualifier contained therein) as of such earlier date). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Ratification</U>.&nbsp;Each Credit Party hereby (i)&nbsp;ratifies and reaffirms all of its payment and performance obligations,
contingent or otherwise, under each of the Credit Agreement and each other Loan Document to which it is a party, (ii)&nbsp;ratifies and reaffirms the grant of liens or security interests over its property pursuant to the Loan Documents and confirms
that such liens and security interests continue to secure the Obligations, (iii)&nbsp;agrees that such ratification and reaffirmation is not a condition to the continued effectiveness of the Loan Documents, and (iv)&nbsp;agrees that neither such
ratification and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
reaffirmation, nor Agent&#146;s nor any Lender&#146;s solicitation of such ratification and reaffirmation, constitutes a course of dealing giving rise to any obligation or condition requiring a
similar or any other ratification or reaffirmation from each party to the Credit Agreement with respect to any amendment, consent or waiver with respect to the Credit Agreement or other Loan Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Governing Law</U>. <B>THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN ALL MATTERS ARISING OUT OF, IN CONNECTION WITH, OR RELATING TO,
THIS AMENDMENT.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Effect</U>. Upon the effectiveness of this Amendment, each reference in the Credit Agreement to &#147;this
Agreement,&#148; &#147;hereunder,&#148; &#147;hereof&#148; or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby, and each reference in the other Loan Documents to the Credit Agreement,
&#147;thereunder,&#148; &#147;thereof,&#148; or words of like import shall mean and be a reference to the Credit Agreement, as amended hereby. Except as expressly provided in this Amendment, all of the terms, conditions and provisions of the Credit
Agreement and the other Loan Documents shall remain the same. This Amendment shall constitute a Loan Document for purposes of the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>No Other Waiver</U>. Except as specifically set forth in this Amendment, the execution, delivery and effectiveness of this Amendment
shall not (a)&nbsp;limit, impair, constitute a waiver by, or otherwise affect any right, power or remedy of, Agent or any Lender under the Credit Agreement or any other Loan Document, (b)&nbsp;constitute a waiver of any provision in the Credit
Agreement or any other Loan Document or of any Default or Event of Default that may have occurred and be continuing or (c)&nbsp;alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in
the Credit Agreement or in any of the other Loan Documents, all of which are ratified and affirmed in all respects and shall continue in full force and effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Agent&#146;s Expenses</U>. The Borrower hereby agrees to promptly reimburse Agent for all of the reasonable out-of-pocket costs and
expenses, including, without limitation, attorneys&#146; and paralegals&#146; fees, it has heretofore or hereafter incurred or incurs in connection with the preparation, negotiation and execution of this Amendment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[SIGNATURE PAGES FOLLOW] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the day and year first
above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="85%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE ALLOYS LLC</B>, as the Borrower</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE METALS GROUP LLC</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Executive Vice President and Chief Legal Officer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE ALLOYS FINANCE CORPORATION</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>WISE ALLOYS FINANCE CORPORATION</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>ALABAMA ELECTRIC MOTOR SERVICES, LLC</B>, as a Credit Party</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Robert Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Robert Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Consent
and Amendment No.&nbsp;4 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GENERAL ELECTRIC CAPITAL CORPORATION</B>, as Agent, Swingline Lender and a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Matthew N. McAlpine</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Matthew N. McAlpine</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Duly Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Consent
and Amendment No.&nbsp;4 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GE CAPITAL BANK</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Woodrow Broaders Jr.</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Woodrow Broaders Jr.</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Duly Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Consent
and Amendment No.&nbsp;4 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="85%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>GE ASSET BASED MASTER NOTE</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Matthew N. McAlpine</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Matthew N. McAlpine</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Duly Authorized Signatory</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Consent
and Amendment No.&nbsp;4 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="85%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>BANK OF AMERICA, N.A.</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Kenneth B. Butler</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Kenneth B. Butler</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Senior Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Consent
and Amendment No.&nbsp;4 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>REGIONS BANK</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Elizabeth L. Waller</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Elizabeth L. Waller</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Senior Vice President</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Consent
and Amendment No.&nbsp;4 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="85%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><B>HVB CAPITAL CREDIT LLC</B>, as a Lender</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Mark Fagnani</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Mark Fagnani</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">1st Senior Vice President and Group Director</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Signature Page to Consent
and Amendment No.&nbsp;4 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(Wise Alloys LLC) </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Form of Holdco II Guaranty </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>[Attached] </U></P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT 4.2(b) </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>Form of Compliance Certificate </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>[Attached] </U></P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-4.18
<SEQUENCE>13
<FILENAME>d908770dex418.htm
<DESCRIPTION>EX-4.18
<TEXT>
<HTML><HEAD>
<TITLE>EX-4.18</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 4.18 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">EXECUTION COPY </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">INDENTURE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Dated as of
April&nbsp;16, 2014 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Among </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE METALS INTERMEDIATE HOLDINGS LLC, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WISE HOLDINGS FINANCE CORPORATION </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">WILMINGTON TRUST, NATIONAL
ASSOCIATION, </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">as Trustee </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% /10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260;<SUB STYLE="vertical-align:bottom">2</SUB>% SENIOR PIK TOGGLE NOTES DUE 2019 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TABLE OF CONTENTS </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom" COLSPAN="2" STYLE="border-bottom:1.00pt solid #000000"><FONT STYLE="font-size:8pt">Page</FONT></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 1</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">DEFINITIONS AND INCORPORATION BY REFERENCE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Definitions</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Other Definitions</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Rules of Construction</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">33</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 1.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Acts of Holders</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">34</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 2</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">THE NOTES</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Form&nbsp;and Dating; Terms</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">35</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Execution and Authentication</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">37</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Registrar and Paying Agent</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Paying Agent to Hold Money in Trust</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Holder Lists</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">38</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Transfer and Exchange</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">39</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Replacement Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Outstanding Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">52</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Treasury Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Temporary Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Cancellation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Defaulted Interest</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">53</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">CUSIP and ISIN Numbers</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 2.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Issuance of PIK Interest</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">54</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 3</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">REDEMPTION</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Notices to Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Selection of Notes to Be Redeemed or Purchased</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Notice of Redemption</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">55</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Effect of Notice of Redemption</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Deposit of Redemption or Purchase Price</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Notes Redeemed or Purchased in Part</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 3.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Optional Redemption</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">57</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.08&nbsp;&nbsp;</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Mandatory Redemption</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 4</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">COVENANTS</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Payment of Principal, Premium and Interest</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">58</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Corporate Existence</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Indebtedness</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">59</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Restricted Payments</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">61</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Transactions with Affiliates of Wise Intermediate Holdings</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">65</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Liens</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Asset Sales</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">67</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Future Guarantees</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Purchase of Notes upon a Change of Control</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">70</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Business Activities</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">71</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Payments for Consent</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Provision of Financial Information</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">74</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Statement by Officers as to Default</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Payment of Taxes and Other Claims</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.16</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Maintenance of Properties</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.17</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Compliance Certificates</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">76</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.18</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Waiver of Stay, Extension or Usury Laws</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.19</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Maintenance of Office or Agency</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.20</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Suspension of Covenants</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">77</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 4.21</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Designation of Restricted and Unrestricted Subsidiaries</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">79</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 5</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SUCCESSORS</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Consolidation, Merger or Sale of Assets</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">80</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 5.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Successor Substituted</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 6</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">DEFAULTS AND REMEDIES</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Events of Default</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">82</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Acceleration</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">83</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Other Remedies</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Waiver of Past Defaults</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Control by Majority</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Suits</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">84</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Rights of Holders of Notes to Receive Payment</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Collection Suit by Trustee&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Restoration of Rights and Remedies</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">85</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Rights and Remedies Cumulative</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delay or Omission Not Waiver</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Trustee May&nbsp;File Proofs of Claim</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">86</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Priorities</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 6.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Undertaking for Costs</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 7</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">TRUSTEE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Duties of Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">87</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Rights of Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">88</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Individual Rights of Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Trustee&#146;s Disclaimer</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Notice of Defaults</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Reports by Trustee to Holders of the Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">90</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Compensation and Indemnity</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Replacement of Trustee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">91</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Successor Trustee by Merger, Etc.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">92</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Eligibility; Disqualification</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 7.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Preferential Collection of Claims Against Issuers</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 8</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">LEGAL DEFEASANCE AND COVENANT DEFEASANCE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Option to Effect Legal Defeasance or Covenant Defeasance</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Legal Defeasance and Discharge</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">93</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Covenant Defeasance</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">95</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Reserved</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">96</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Repayment to Issuers</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 8.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Reinstatement</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 9</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">AMENDMENT, SUPPLEMENT AND WAIVER</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Without Consent of Holders of Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">97</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">With Consent of Holders of Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">98</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Reserved</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Effect of Consents</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">99</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Notation on or Exchange of Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 9.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Trustee to Sign Amendments, Etc.&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iii </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="14%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="82%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 10</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">FUTURE GUARANTEES</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Guarantee</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Limitation on Guarantor Liability</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Execution and Delivery</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Subrogation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Benefits Acknowledged</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 10.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Release of Guarantees</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 11</P></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">SATISFACTION AND DISCHARGE</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Satisfaction and Discharge</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">103</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 11.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Application of Trust Money</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">ARTICLE 12</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="7"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="6" ALIGN="center">MISCELLANEOUS</TD>
<TD VALIGN="top">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.01</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Notices</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">105</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.02</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Business Days</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.03</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Communication by Holders of Notes with Other Holders of Notes</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.04</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Certificate and Opinion as to Conditions Precedent</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">106</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.05</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Statements Required in Certificate or Opinion</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.06</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Rules by Trustee and Agents</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.07</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">No Personal Liability of Incorporators, Stockholders, Officers, Directors, Employees or Controlling Persons</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">107</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.08</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Governing Law; Waiver of Jury Trial</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.09</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Force Majeure</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.10</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Successors</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.11</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Severability</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.12</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Counterpart Originals</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.13</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Table of Contents, Headings, Etc.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">108</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.14</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">USA Patriot Act</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">SECTION 12.15</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">No Adverse Interpretation of Other Agreements</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">109</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;&nbsp;</TD></TR></TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="89%"></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">EXHIBITS</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;A-1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Form&nbsp;of Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">Exhibit&nbsp;A-2&nbsp;&nbsp;&nbsp;&nbsp;</FONT></P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Form of Regulation S Temporary Note</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;B</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Form&nbsp;of Certificate of Transfer</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;B-1</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Form&nbsp;of Certificate from Acquiring Institutional Accredited Investor</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;C</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Form&nbsp;of Certificate of Exchange</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Exhibit&nbsp;D</P></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Form&nbsp;of Supplemental Indenture to Be Delivered by Future Guarantors</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">iv </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">INDENTURE, dated as of April&nbsp;16, 2014, among Wise Metals Intermediate Holdings LLC, a
Delaware limited liability company (&#147;<U>Wise Intermediate Holdings</U>&#148;), Wise Holdings Finance Corporation, a Delaware corporation (&#147;<U>FinCo</U>&#148; and, together with Wise Intermediate Holdings, the &#147;<U>Issuers</U>&#148;),
and Wilmington Trust, National Association, a national banking association duly organized and existing under the laws of the United States of America, as Trustee. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>W</U> <U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U> <U>E</U> <U>T</U> <U>H</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuers have duly authorized the creation of an issue of $150,000,000 aggregate principal amount of 9<SUP
STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% /10<SUP STYLE="vertical-align:top">&nbsp;1</SUP>&#8260;<SUB STYLE="vertical-align:bottom">2</SUB>% Senior PIK Toggle Notes due 2019 (the &#147;<U>Initial
Notes</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Issuers have duly authorized the execution and delivery of this Indenture; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">WHEREAS, all things necessary (i)&nbsp;to make the Notes, when executed by the Issuers and authenticated and delivered hereunder and duly
issued by the Issuers, the valid obligations of the Issuers, and (ii)&nbsp;to make this Indenture a valid agreement of the Issuers, all in accordance with their respective terms, have been done; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, the Issuers and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the
Holders of the Notes. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 1 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFINITIONS AND INCORPORATION BY REFERENCE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.01 <U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>144A Global Note</U>&#148; means a Global Note substantially in the form of <U>Exhibit&nbsp;A-1</U> attached hereto, bearing the
Global Note Legend, the OID Legend and the Private Placement Legend and deposited with or on behalf of, and registered in the name of, the Depositary or its nominee that will be issued in a denomination equal to the outstanding principal amount of
the Notes sold in reliance on Rule&nbsp;144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Acquired Indebtedness</U>&#148; means Indebtedness of a Person (1)&nbsp;existing
at the time such Person becomes a Restricted Subsidiary or (2)&nbsp;assumed in connection with an acquisition of such Person&#146;s assets; <U>provided</U> that any Indebtedness of such other Person that is extinguished, redeemed, defeased, retired
or otherwise repaid at the time of or immediately upon consummation of the transaction pursuant to which such other Person becomes a Subsidiary of the specified Person will not be Acquired Indebtedness. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Additional Notes</U>&#148; means additional Notes (other than the Initial Notes or any PIK Notes) issued from time to time under this
Indenture in accordance with Sections 2.01, 4.03 and 4.06. </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148; of any specified individual or entity, means any other individual or
entity who directly or indirectly controls or is controlled by or is under direct or indirect common control with the specified individual or entity. For the purposes of this definition, &#147;control&#148; of an entity means having the power to
direct the management and policies of the entity directly or indirectly, whether through the ownership of voting securities, by contract or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agent</U>&#148; means any Registrar or Paying Agent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Premium</U>&#148; means, with respect to any Note on any Redemption Date, the greater of (i)&nbsp;1.0% of the principal
amount of such Note and (ii)&nbsp;the excess of (A)&nbsp;the present value at such Redemption Date of (1)&nbsp;the Redemption Price of such Note at June&nbsp;15, 2016 (such redemption price being set forth in the table in Section&nbsp;3.07) plus
(2)&nbsp;all required interest payments due on such Note through June&nbsp;15, 2016 (assuming such interest is Cash Interest) (excluding accrued but unpaid interest to the Redemption Date), computed using a discount rate equal to the Treasury Rate
plus 50 basis points over (B)&nbsp;the principal amount of such Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Procedures</U>&#148; means, with respect to any
transfer or exchange of or for beneficial interests in any Global Note, the rules and procedures of the Depositary, Euroclear or Clearstream that apply to such transfer or exchange. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Asset Sale</U>&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) the sale, conveyance or other disposition of any assets, other than sales or leases of inventory or other assets in the ordinary course of
business (whether or not consistent with past practice); <U>provided</U> that the sale, conveyance or other disposition of all or substantially all of the assets of Wise Intermediate Holdings and its Subsidiaries taken as a whole will be governed by
Section&nbsp;5.01 and not by Section&nbsp;4.07; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the issuance of Equity Interests by any of Wise Intermediate Holdings&#146;
Restricted Subsidiaries or the sale of Equity Interests in any of its Restricted Subsidiaries, other than such an issuance or sale to Wise Intermediate Holdings or one or more of its Restricted Subsidiaries (other than director&#146;s qualifying
shares or shares required by applicable law to be held by a person other than Wise Intermediate Holdings or a Restricted Subsidiary). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the preceding, the following items shall not be deemed to be Asset Sales: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any single transaction or series of related transactions that involves assets having a Fair Market Value of less than $5.0 million or in
which Wise Intermediate Holdings or the Restricted Subsidiary receives aggregate consideration of less than $5.0 million; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) a transfer
of assets between or among Wise Intermediate Holdings and any one or more of its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) an issuance or transfer of
Equity Interests by a Restricted Subsidiary to Wise Intermediate Holdings or by Wise Intermediate Holdings or a Restricted Subsidiary to a Restricted Subsidiary (other than a Securitization Entity); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) a Restricted Payment that is permitted by Section&nbsp;4.04 or a Permitted Investment; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) sales or other dispositions of assets or Equity Interests that comply with Section&nbsp;4.07(a)(i)&nbsp;to the extent such sales or
dispositions constitute Permitted Investments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) a disposal or replacement of obsolete or worn-out equipment or any other asset that, in
the reasonable judgment of Wise Intermediate Holdings, is no longer economically practicable to maintain or useful in the conduct of the business of Wise Intermediate Holdings and the Restricted Subsidiaries taken as whole; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) (i)&nbsp;the sale or discount of accounts receivable in the ordinary course of business and (ii)&nbsp;the sale of rights with respect to
accounts receivable and amounts owed by suppliers or customers in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) the surrender or waiver of contract
rights (including leases, subleases, licenses and sub-licenses) or the settlement, release, or surrender of contract, tort or other claims; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) the lease, sublease or license or sublicense of real or personal property, including patents, trademarks and other intellectual property
rights that do not materially interfere with the business of Wise Intermediate Holdings and its Restricted Subsidiaries taken as a whole; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) the cancellation of intercompany Indebtedness with Wise Intermediate Holdings or any of its Restricted Subsidiaries permitted under this
Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) the granting of Liens not prohibited by this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) any sale or other disposition of cash or Temporary Cash Investments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) any sale of Equity Interests or other Investments in an Unrestricted Subsidiary; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) the disposition of Receivables and Related Assets in a Qualified Securitization Transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Attributable Debt</U>&#148; in respect of a Sale and Leaseback Transaction means, at the time of determination, the present value of
the obligation of the lessee for net rental payments during the remaining term of the lease included in such Sale and Leaseback Transaction, including any period for which such lease has been extended or may, at the option of the lessor, be
extended. Such present value will be calculated using a discount rate equal to the rate of interest implicit in such transaction, determined in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Average Life</U>&#148; means, at any date of determination with respect to any debt security, the quotient obtained by dividing
(1)&nbsp;the sum of the products of (a)&nbsp;the number of years from such date of determination to the dates of each successive scheduled principal payment of such debt security and (b)&nbsp;the amount of such principal payment by (2)&nbsp;the sum
of all such principal payments. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bank Products</U>&#148; means any one or more of the following financial products or
accommodations extended to Wise Intermediate Holdings or its Subsidiaries: (a)&nbsp;credit cards for commercial customers (including, without limitation, &#147;commercial credit cards&#148; and purchasing cards), (b)&nbsp;stored value cards,
(c)&nbsp;merchant processing services, (d)&nbsp;treasury management services (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items, overdrafts and interstate depository network services) and
(e)&nbsp;lease financing of specific equipment. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Bankruptcy Law</U>&#148; means Title&nbsp;11, United States Bankruptcy Code of
1978, as amended, or any similar United States federal or state law or foreign law relating to bankruptcy, insolvency, receivership, winding up, liquidation, reorganization or relief of debtors or any amendment to, succession to or change in any
such law. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Board of Directors</U>&#148; means, with respect to any Person, the Board of Directors, Board of Managers, Board of
Directors of the general partner in the case of a partnership or similar governing body of such Person or any duly authorized committee of such Board of Directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business Day</U>&#148; means each day which is not a Saturday, a Sunday or a day on which banking institutions in The City of New
York, in the city in which the principal corporate trust office of the Trustee is located or at a place of payment are authorized or required by law, regulation or executive order to remain closed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Borrowing Base</U>&#148; means, as of any date, an amount equal to the sum of (i)&nbsp;85% of the consolidated book value of the
accounts receivable of Wise Intermediate Holdings and its Restricted Subsidiaries and (ii)&nbsp;75% of the consolidated book value of the inventory of Wise Intermediate Holdings and its Restricted Subsidiaries, each as determined by the most recent
consolidated balance sheet of Wise Intermediate Holdings and its Restricted Subsidiaries (which shall also give pro forma effect to any acquisition or disposition of assets outside the ordinary course of business made after such balance sheet date
and on or prior to the date of determination). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital Lease Obligation</U>&#148; means, at the time any determination thereof
is to be made, the amount of the liability in respect of a capital lease that would at that time be required to be capitalized on a balance sheet in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change of Control</U>&#148; means an event or series of events by which any of the following occurs: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any Person (other than one or more Permitted Holders) is or becomes the &#147;beneficial owner&#148; directly or indirectly, of more than
50% of the total voting power of all outstanding classes of voting capital stock of Wise Intermediate Holdings; <U>provided</U>, <U>however</U>, that a transaction in which Wise Intermediate Holdings becomes a Subsidiary of another Person shall not
constitute a Change of Control if the shareholders of Wise Intermediate Holdings immediately prior to such transaction &#147;beneficially own&#148; (as such term is defined in Rule&nbsp;13d-3 and Rule&nbsp;13d-5 under the Exchange Act), directly or
indirectly through one or more intermediaries, at least a majority of the voting power of the outstanding voting stock of such Person immediately following the consummation of such transaction; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the adoption of a plan relating to the liquidation or dissolution of Wise Intermediate
Holdings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) on any date, a majority of Wise Intermediate Holdings&#146; Board of Directors does not consist of Persons (a)&nbsp;who were
directors at the Closing Date (&#147;<U>Continuing Directors</U>&#148;) or (b)&nbsp;whose election or nomination as directors was approved by at least 2/3 of the directors then in office who are Continuing Directors or whose election or nomination
was previously so approved; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Wise Intermediate Holdings ceases to &#147;beneficially own&#148; (as such term is defined in Rule
13d-3 and Rule 13d-5 under the Exchange Act) directly or indirectly 100% of the issued and outstanding capital stock of Opco (or any successor thereto to the extent Opco is consolidated into or merged with or into such Person in accordance with the
terms of the Existing Opco Indenture), other than in a transaction in which Opco is merged with and into Wise Intermediate Holdings in accordance with the terms of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the definition of Change of Control, &#147;Person&#148; has the same meaning given to it in Sections 13(d)&nbsp;and 14(d)&nbsp;of the
Exchange Act, and &#147;beneficial owner&#148; or &#147;beneficially owned&#148; have the same meaning given to these terms in Rules l3d-3 and l3d-5 under the Exchange Act, except that a Person is deemed to have &#147;beneficial ownership&#148; of
all shares that Person has the right to acquire, whether the right is exercisable immediately or only after the passage of time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Clearstream</U>&#148; means Clearstream Banking, Soci&eacute;t&eacute; Anonyme. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Closing Date</U>&#148; means the date on which the Initial Notes are issued under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Cash Flow</U>&#148; means, with respect to any Person for any period, the Consolidated Net Income of such Person for
such period plus without duplication: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) an amount equal to any provision for taxes based on income or profits or similar taxes of such
Person and its Restricted Subsidiaries for such period, to the extent that such provision for taxes was deducted in computing such Consolidated Net Income; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) Fixed Charges of such Person and its Restricted Subsidiaries to the extent deducted in computing such Consolidated Net Income; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) depreciation, depletion, amortization (including amortization of goodwill and other intangibles but excluding amortization of prepaid cash
expenses that were paid in a prior period), impairment and other non-cash expenses, write-downs (including asset impairment charges), charges or accruals of such Person and its Restricted Subsidiaries (excluding any such non-cash expense to the
extent it represents an accrual or reserve for cash payments in any future period) for such period to the extent that such depreciation, amortization and other non-cash expenses, write-downs, charges or accruals were deducted in computing such
Consolidated Net Income; plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) other non-cash items (other than any such non-cash item to the extent it represents
amortization of a prepaid cash expense that was paid in a prior period or an accrual of or reserve for cash expenditures in any future period), including, without limitation, non-cash rent expense, non-cash costs of sales, non-cash expense from any
employee benefit plan or stock option or incentive plan, non-cash stock compensation expense, non-cash foreign currency gains or losses, non-cash loss on sale or disposition of assets, non-cash loss from write-down or impairment of assets and
non-cash expenditures arising out of purchase accounting adjustments with respect to re-valuing assets and liabilities to the extent that such non-cash items were deducted in computing such Consolidated Net Income; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) any fees, costs, expenses or charges (other than depreciation, depletion or amortization expense) related to any equity offering, Permitted
Investment, acquisition, disposition, recapitalization or the incurrence of Indebtedness permitted to be incurred under this Indenture (including a refinancing thereof), in each case, whether or not successful, including, without limitation, such
fees, expenses and charges relating to the issuance of the Initial Notes to the extent that such fees, expenses or charges were deducted in computing such Consolidated Net Income; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) to the extent actually reimbursed (and to the extent such reimbursement proceeds are not included in computing such Consolidated Net
Income), expenses incurred to the extent covered by indemnification provisions in any agreement in connection with an acquisition; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) the amount of any restructuring charge or integration costs deducted in such period in computing such Consolidated Net Income, including
any one-time costs incurred in connection with acquisitions after the Closing Date; minus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) non-cash items increasing such Consolidated
Net Income for such period, other than items that were accrued in the ordinary course of business. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Consolidated Net
Income</U>&#148; means, with respect to any Person for any period, the aggregate of the Net Income of such Person and its Restricted Subsidiaries for such period, on a consolidated basis, determined in accordance with GAAP; <U>provided</U> that:
(1)&nbsp;the Net Income of any Person that is not a Restricted Subsidiary or that is accounted for by the equity method of accounting shall be included only (x)&nbsp;in the case of income, to the extent of the amount of dividends or distributions
paid in cash to the specified Person or a Restricted Subsidiary thereof and (y)&nbsp;in the case of loss, only to the extent of such Person&#146;s equity in such loss; (2)&nbsp;the cumulative effect of a change in accounting principles, any
extraordinary gains or losses and any gains or losses realized in connection with an asset sale (including disposals of discontinued operations) or the extinguishment of Indebtedness shall be excluded; (3)&nbsp;solely for the purposes of determining
Consolidated Cash Flow, any net after-tax income or loss from discontinued operations shall be excluded; (4)&nbsp;any non-cash gain or loss from Hedging Obligations shall be excluded; (5)&nbsp;impairment and other non-cash expenses, write-downs
(including asset impairment charges), charges or accruals shall be excluded; (6)&nbsp;the amount of any restructuring charge or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
integration costs shall be excluded; (7)&nbsp;non-cash stock based compensation expense shall be excluded; (8)&nbsp;any last-in, first out accounting adjustments shall be excluded; (9)&nbsp;any
amortization, option premium or up-front cash payments paid in connection with Hedging Obligations shall be excluded; and (10)&nbsp;any write-off of deferred financing fees resulting from the repayment of Indebtedness using the proceeds of the
Initial Notes and the refinancing transactions described in the Offering Memorandum shall be excluded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, for
purposes of clause&nbsp;(iii)&nbsp;of Section&nbsp;4.04(a)&nbsp;only, there shall be excluded from Consolidated Net Income that portion, if any, of the Net Income of any Restricted Subsidiary that is not permitted, directly or indirectly, to be paid
by way of dividend, distribution or loan to stockholders of such Subsidiary by operation of the terms of its charter or any agreement, instrument, judgment, decree, order, statute, rule or governmental regulation applicable to that Subsidiary or its
stockholders; other than any restriction or prohibition permitted by Section&nbsp;4.11(b). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Corporate Trust Office of the
Trustee</U>&#148; shall be the address of the Trustee specified in Section&nbsp;12.01 or such other address as to which the Trustee may give notice to the Holders and the Issuers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credit Agreement</U>&#148; means the Credit Agreement dated as of December&nbsp;11, 2013, by and among Wise Alloys LLC, as borrower,
Opco and certain Subsidiaries of Opco, as credit parties, the lenders from time to time party thereto and General Electric Capital Corporation, as administrative agent, including any related notes, Guarantees, collateral documents, instruments and
agreements executed in connection therewith, and in each case as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in part from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credit Facilities</U>&#148; means one or more debt facilities (including the revolving credit facility established pursuant to the
Credit Agreement), commercial paper facilities or indentures providing for revolving credit loans, term loans, receivables financing (including through the sale of receivables to such lenders or to special purpose entities formed to borrow from such
lenders against such receivables), letters of credit, sale-leaseback transactions, capital leases or similar obligations or issuances of notes, in each case, as amended, restated, modified, renewed, refunded, replaced or refinanced in whole or in
part from time to time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Custodian</U>&#148; means the Paying Agent and the Registrar, as custodian with respect to the Notes in
global form, or any successor entity thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Default</U>&#148; means any event that is, or after notice or passage of time or
both would be, an Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Definitive Note</U>&#148; means a certificated Note registered in the name of the Holder
thereof and issued in accordance with Section&nbsp;2.06(c)&nbsp;or (e), substantially in the form of <U>Exhibit&nbsp;A-1</U> hereto, except that such Note shall not bear the Global Note Legend and shall not have the &#147;Schedule&nbsp;of Exchanges
of Interests in the Global Note&#148; attached thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Depositary</U>&#148; means, with respect to the Notes issuable or issued
in whole or in part in global form, the Person specified in Section&nbsp;2.03 as the Depositary with respect to the Notes, and any and all successors thereto appointed as the Depositary hereunder and having become such pursuant to the applicable
provision of this Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Designated Non-cash Consideration</U>&#148; means non-cash consideration received by
Wise Intermediate Holdings or any of its Restricted Subsidiaries in connection with an Asset Sale that is so designated as Designated Non-cash Consideration by Wise Intermediate Holdings. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Disqualified Stock</U>&#148; means any Equity Interest that, by its terms (or by the terms of any security into which it is
convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event, matures or is mandatorily redeemable (other than solely for Equity Interests that are not Disqualified Stock),
pursuant to a sinking fund obligation or otherwise, or redeemable at the option of the holder thereof, in whole or in part, on or prior to the date that is 91&nbsp;days after the date on which the Notes are or become due. Notwithstanding the
preceding sentence, any Equity Interests that would constitute Disqualified Stock solely because the holders thereof have the right to require the Issuers to repurchase such Equity Interests upon the occurrence of a Change of Control or an Asset
Sale shall not constitute Disqualified Stock if the terms of such Equity Interests provide that the Issuers may not repurchase or redeem any such Equity Interests pursuant to such provisions until after the Issuers comply with Section&nbsp;4.07 or
Section&nbsp;4.09. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Domestic Subsidiary</U>&#148; means a Restricted Subsidiary incorporated or otherwise organized or existing
under the laws of the United States, any state thereof or the District of Columbia, other than any such Restricted Subsidiary (i)&nbsp;that is either (a)&nbsp;a controlled foreign corporation within the meaning of Section&nbsp;957 of the Code (a
&#147;<U>CFC</U>&#148;) or (b)&nbsp;a direct or indirect Subsidiary of a CFC or (ii)&nbsp;that has no material assets other than capital stock of one or more Foreign Subsidiaries that are CFCs. For the avoidance of doubt, any Subsidiary organized in
a U.S. possession or territory shall not be treated as a Domestic Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Equity Interests</U>&#148; means capital stock,
limited liability company interests, partnership interests or other equity interests or equity securities, and all warrants, options or other rights to acquire such securities (but excluding any debt security that is convertible into, or
exchangeable for, such equity interests or equity securities). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Euroclear</U>&#148; means Euroclear Bank S.A./N.V., as operator
of the Euroclear system. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Exchange Act</U>&#148; means the Securities Exchange Act of 1934, as amended, or any successor statute,
and the rules and regulations promulgated by the SEC thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Existing Opco Indenture</U>&#148; means the Indenture dated as
of December&nbsp;11, 2013, by and among Opco and Wise Finance, as <FONT STYLE="white-space:nowrap">co-issuers,</FONT> the Subsidiaries of Opco party thereto, as guarantors, and Wells Fargo Bank, National Association, as trustee and collateral agent,
as amended and supplemented from time to time, relating to the Existing Opco Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Existing Opco Notes</U>&#148; means
$650,000,000 aggregate principal amount of the 8<SUP STYLE="vertical-align:top">&nbsp;3</SUP>&#8260;<SUB STYLE="vertical-align:bottom">4</SUB>% Senior Secured Notes due 2018 issued by Opco and Wise Finance under the Existing Opco Indenture. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fair Market Value</U>&#148; means the price that would be paid in an arm&#146;s-length,
commercial transaction between an informed and willing seller under no compulsion to sell and an informed and willing buyer under no compulsion to buy; <U>provided</U> that any transaction involving consideration of $20.0 million or more, the Fair
Market Value shall be determined in good faith by the Board of Directors of Wise Intermediate Holdings, which determination shall be conclusive. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fixed Charge Coverage Ratio</U>&#148; means with respect to any specified Person for any period, the ratio of the Consolidated Cash
Flow of such Person and its Restricted Subsidiaries for such period to the Fixed Charges of such Person for such period. In the event that the specified Person or any of its Restricted Subsidiaries incurs, assumes, Guarantees, redeems, repays or
acquires any Indebtedness or issues, redeems or acquires preferred stock subsequent to the commencement of the period for which the Fixed Charge Coverage Ratio is being calculated but on or prior to the date on which the event for which the
calculation of the Fixed Charge Coverage Ratio is made (the &#147;<U>Calculation Date</U>&#148;), then the Fixed Charge Coverage Ratio shall be calculated giving <U>pro forma</U> effect to such incurrence, assumption, Guarantee, redemption,
repayment or acquisition of Indebtedness, or such issuance, redemption or acquisition of preferred stock, as if the same had occurred at the beginning of the applicable reference period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, for purposes of calculating the Fixed Charge Coverage Ratio: (1)&nbsp;acquisitions that have been made by the specified Person or
any of its Restricted Subsidiaries, including through the purchase of assets or stock, mergers, liquidations or consolidations and including any related financing transactions, during the reference period or subsequent to such reference period and
on or prior to the Calculation Date shall be calculated on a <U>pro forma</U> basis as if they had occurred on the first day of the reference period; (2)&nbsp;the Consolidated Cash Flow attributable to discontinued operations, as determined in
accordance with GAAP, and operations or businesses disposed of prior to the Calculation Date, shall be excluded; (3)&nbsp;the Fixed Charges attributable to discontinued operations, as determined in accordance with GAAP, and operations or businesses
disposed of prior to the Calculation Date, shall be excluded, but only to the extent that the obligations giving rise to such Fixed Charges will not be obligations of the specified Person or any of its Subsidiaries following the Calculation Date;
and (4)&nbsp;interest on any Indebtedness that is revolving credit Indebtedness calculated on a <U>pro forma</U> basis shall be calculated based upon the average daily balance of such Indebtedness during the applicable
<FONT STYLE="white-space:nowrap">four-quarter</FONT> reference period. If any Indebtedness bears a floating rate of interest and is being given <U>pro forma</U> effect, the interest on such Indebtedness shall be calculated as if the rate in effect
on the Calculation Date had been the applicable rate for the entire period (taking into account any interest rate swap agreement, interest rate cap agreement, interest rate collar agreement or other similar agreement with respect to exposure to
interest rates applicable to such Indebtedness if such interest rate agreement has a remaining term in excess of twelve&nbsp;months). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Fixed Charges</U>&#148; means, with respect to any Person for any period, the sum, without duplication, of: (1)&nbsp;the consolidated
interest expense of such Person and its Restricted Subsidiaries for such period, whether paid or accrued, including, without limitation, amortization of debt issuance costs and original issue discount, non-cash interest payments (excluding any
non-cash interest expense attributable to the movement in the mark-to-market valuation of Hedging Obligations or other derivative instruments pursuant to GAAP), the interest component </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
of any deferred payment obligations (excluding any non-cash interest expense attributable to the movement in the mark-to-market valuation of Hedging Obligations or other derivative instruments
pursuant to GAAP), the interest component of all payments associated with Capital Lease Obligations, imputed interest with respect to Attributable Debt, commissions, discounts and other fees and charges incurred in respect of letter of credit or
bankers&#146; acceptance financings and net payments, if any, pursuant to Hedging Obligations and excluding any <FONT STYLE="white-space:nowrap">non-cash</FONT> interest expense imputed on any convertible debt resulting from the application of
ASC&nbsp;470-20, &#147;<U>Debt&#151;Debt with Conversion and Other Options</U>;&#148; plus (2)&nbsp;the consolidated interest of such Person and its Restricted Subsidiaries that was capitalized during such period; plus (3)&nbsp;the aggregate amount
of interest in respect of Indebtedness that is Guaranteed or secured by the assets of Wise Intermediate Holdings or its Restricted Subsidiaries; plus (4)&nbsp;the product of (a)&nbsp;all dividend payments on any series of preferred stock of such
Person or any of its Restricted Subsidiaries (other than (x)&nbsp;dividend payments to Wise Intermediate Holdings or its Restricted Subsidiaries or (y)&nbsp;dividend payments on such preferred stock payable solely in Equity Interests of such Person
(other than Disqualified Stock) or to such Person or a Restricted Subsidiary of such Person) times (b)&nbsp;a fraction, the numerator of which is one and the denominator of which is one minus the then current combined federal, state and local
statutory tax rate of such Person, expressed as a decimal, in each case, on a consolidated basis and in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Foreign Subsidiary</U>&#148; means, with respect to any Person, any Restricted Subsidiary other than a Domestic Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>GAAP</U>&#148; means generally accepted accounting principles in the United States of America as in effect as of the Closing Date,
including, without limitation, those set forth in the Accounting Standards Codification (&#147;<U>ASC</U>&#148;) maintained by the Financial Accounting Standards Board with additional guidance from opinions, pronouncements, accounting bulletins or
guidelines from the Securities and Exchange Commission, the American Institute of Certified Public Accountants or in such other statements by such other entity as approved by a significant segment of the accounting profession, consistently applied;
<U>provided</U> that for the purposes of complying with Section&nbsp;4.13, GAAP in effect on the date of such reports shall be applied. Any reference to any financial measure for Wise Intermediate Holdings and any of its Subsidiaries, for any period
that includes any period prior to the date Opco became a Subsidiary of Wise Intermediate Holdings shall be based on such financial measure for Opco and such other Subsidiary for such period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Global Note Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(ii), which is required to be placed on all Global
Notes issued under this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Global Notes</U>&#148; means, individually and collectively, each of the Restricted Global
Notes and the Unrestricted Global Notes, substantially in the form of <U>Exhibit&nbsp;A</U> hereto, issued in accordance with Sections&nbsp;2.01, 2.06(b)&nbsp;or 2.06(d). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantee</U>&#148; means any obligation, contingent or otherwise, of any Person directly or indirectly guaranteeing any Indebtedness
of any other Person and, without limiting the generality of the foregoing, any obligation, direct or indirect, contingent or otherwise, of such Person (1)&nbsp;to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness of such other Person (whether arising by virtue of partnership arrangements, or by </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
agreements to keep-well, to purchase assets, goods, securities or services (unless such purchase arrangements are on arm&#146;s-length terms and are entered into in the ordinary course of
business), to take-or-pay, or to maintain financial statement conditions or otherwise) or (2)&nbsp;entered into for purposes of assuring in any other manner the obligee of such Indebtedness of the payment thereof or to protect such obligee against
loss in respect thereof (in whole or in part); <U>provided</U> that the term &#147;Guarantee&#148; shall not include endorsements for collection or deposit in the ordinary course of business. The term &#147;Guarantee&#148; used as a verb has a
corresponding meaning. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Guarantor</U>&#148; means any Subsidiary of Wise Intermediate Holdings (other than FinCo) that provides a
Subsidiary Guarantee with respect to the Notes after the Closing Date, including any Person that is required after the Closing Date to execute a Subsidiary Guarantee of the Notes pursuant to Section&nbsp;4.08 until such Person&#146;s Subsidiary
Guarantee is released in accordance with this Indenture or until a successor replaces such Person pursuant to the applicable provisions of this Indenture and, thereafter, shall mean such successor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Hedging Obligations</U>&#148; means, with respect to any Person, the obligations of such Person under: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any interest rate protection agreement, interest rate future agreement, interest rate option agreement, interest rate swap agreement,
interest rate cap agreement, interest rate collar agreement or other similar agreement or arrangement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) any commodity forward contract,
commodity swap agreement, commodity option agreement or other similar agreement or arrangement; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) any foreign exchange contract,
currency swap agreement or other similar agreement or arrangement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Holder</U>&#148; means a Person in whose name a Note is
registered on the Registrar&#146;s books. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Holdings Distribution</U>&#148; means the dividend to be paid on, or within 30 days
of, the Closing Date by Wise Intermediate Holdings to Wise Metals Holdings LLC to allow it to fund a dividend to, or repurchase equity interests of, its members with a substantial portion of the net proceeds of the offering of the Notes issued on
the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>IAI Note Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(iii) to be placed on all
Definitive Notes issued under this Indenture to an Institutional Accredited Investor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indebtedness</U>&#148; means, with respect
to any specified Person, any indebtedness of such Person, contingent or otherwise (but excluding accrued expenses and trade payables), in respect of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) borrowed money; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) bonds, notes, debentures or similar instruments or letters of credit (or reimbursement
agreements in respect thereof), but excluding obligations with respect to letters of credit (including trade letters of credit) or similar obligations (such as bank Guarantees), entered into in the ordinary course of business of such Person (and not
for borrowed money) to the extent such letters of credit or similar obligations are not drawn upon or, if drawn upon, to the extent such drawing is reimbursed no later than the fifth Business Day following receipt by such Person of a demand for
reimbursement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) banker&#146;s acceptances; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Capital Lease Obligations and Attributable Debt; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) the balance, deferred and unpaid, of the purchase price of any property (except any such balance that constitutes an accrued expense or
trade payable) due more than six&nbsp;months after such property is acquired; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) any Hedging Obligations; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) all amounts outstanding and other obligations of such Person in respect of a Qualified Securitization Transaction; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">if and to the extent any of the preceding (other than letters of credit and Hedging Obligations) would appear as a liability upon a balance
sheet of the specified Person prepared in accordance with GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, the term &#147;Indebtedness&#148; includes all Indebtedness
of others secured by a Lien on any asset of the specified Person (whether or not such Indebtedness is assumed by the specified Person) (the amount of such Indebtedness as of any date being deemed to be the lesser of the value of such property or
assets as of such date or the principal amount of such Indebtedness of such other Person) and, to the extent not otherwise included, the Guarantee by such Person of any Indebtedness of any other Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indenture</U>&#148; means this Indenture, as amended or supplemented from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indenture Obligations</U>&#148; means the obligations of the Issuers and any other obligor under this Indenture or under the Notes,
including any Guarantor, to pay principal of, premium, if any, and interest when due and payable, and all other amounts due or to become due under or in connection with this Indenture and the Notes and the performance of all other obligations to the
Trustee and the Holders under this Indenture and the Notes, according to the respective terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indirect
Participant</U>&#148; means a Person who holds a beneficial interest in a Global Note through a Participant. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Initial
Notes</U>&#148; has the meaning set forth in the recitals hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Initial Purchasers</U>&#148; means Merrill Lynch, Pierce,
Fenner&nbsp;&amp; Smith Incorporated and Houlihan Lokey Capital, Inc. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Institutional Accredited Investor</U>&#148; means an institution that is an
&#147;accredited investor&#148; as defined in Rule&nbsp;501(a)(1), (2), (3)&nbsp;or (7)&nbsp;under the Securities Act, who is not also a QIB. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intercompany Debt Obligations</U>&#148; means any Indebtedness of Wise Intermediate Holdings or any of its Restricted Subsidiaries
which is owed to Wise Intermediate Holdings or any of its Restricted Subsidiaries. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>interest</U>&#148; with respect to the Notes
means interest with respect thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Payment Date</U>&#148; means June&nbsp;15 and December&nbsp;15 of each year until
the maturity date of the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investment Grade</U>&#148; means (1)&nbsp;BBB- or above, in the case of S&amp;P (or its
equivalent under any successor Rating Categories of S&amp;P), and Baa3 or above, in the case of Moody&#146;s (or its equivalent under any successor Rating Categories of Moody&#146;s), or (2)&nbsp;the equivalent in respect of the Rating Categories of
any other Rating Agencies, in each case, without regard to outlook. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Investments</U>&#148; means, with respect to any Person, all
investments by such Person in other Persons (including Affiliates) in the forms of direct or indirect loans (including Guarantees of Indebtedness or other obligations), advances or capital contributions (excluding commission, travel and similar
advances to officers and employees made in the ordinary course of business), purchases or other acquisitions for consideration of Indebtedness, Equity Interests or other securities, to the extent that such items are or would be classified as
investments on a balance sheet prepared in accordance with GAAP. &#147;Investments&#148; shall also include (1)&nbsp;the designation of a Restricted Subsidiary as an Unrestricted Subsidiary and (2)&nbsp;the retention of the Equity Interests (or any
other Investment) by Wise Intermediate Holdings or any of its Restricted Subsidiaries of (or in) any Person that has ceased to be a Restricted Subsidiary. For purposes of the definition of &#147;Unrestricted Subsidiary&#148; and Section&nbsp;4.04,
the amount of or a reduction in an Investment shall be equal to the Fair Market Value thereof at the time such Investment is made or reduced. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Issuers</U>&#148; means Wise Metals Intermediate Holdings LLC, a limited liability company formed under the laws of the State of
Delaware, until a successor Person shall have become such pursuant to the applicable provisions of this Indenture and Wise Holdings Finance Corporation, a corporation incorporated under the laws of the State of Delaware, until a successor Person
shall have become such pursuant to the applicable provisions of this Indenture, and thereafter &#147;Issuers&#148; shall mean each such successor Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Lien</U>&#148; means any mortgage, lien, pledge, security interest, conditional sale or other title retention agreement, charge or
other security interest or encumbrance of any kind in respect of any asset, whether or not filed, recorded or otherwise perfected under applicable law, including any conditional sale or other title retention agreement or any lease in the nature
thereof; any option or other agreement to sell or give a security interest therein and any filing of, or agreement to file, any financing statement under the UCC (or equivalent statutes of any jurisdiction). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Moody&#146;s</U>&#148; means Moody&#146;s Investors Service, Inc. and its successors.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Cash Proceeds</U>&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) with respect to any Asset Sale, the aggregate cash proceeds received by Wise Intermediate Holdings or any of its Restricted Subsidiaries
(including, without limitation, any cash received upon the sale or other disposition of any non-cash consideration received in any Asset Sale), net of the direct costs relating to such Asset Sale, including, without limitation, legal, accounting and
investment banking fees, and sales commissions, and any relocation expenses incurred as a result thereof, taxes paid or payable as a result thereof, in each case after taking into account any available tax credits or deductions, any tax sharing
arrangements and amounts used to repay Indebtedness secured by a Lien on the asset or assets that were the subject of such Asset Sale and appropriate amounts to be provided by Wise Intermediate Holdings or any Restricted Subsidiary as a reserve
against any liabilities associated with such Asset Sale, including, without limitation, pension and other post-employment benefit liabilities, liabilities related to environmental matters and liabilities under any indemnification obligations
associated with such Asset Sale, all as determined in conformity with GAAP; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) with respect to any issuance or sale of Equity
Interests, the proceeds of such issuance or sale in the form of cash or cash equivalents, including payments in respect of deferred payment obligations (to the extent corresponding to the principal, but not interest, component thereof) when received
in the form of cash or cash equivalents and proceeds from the conversion of other property received when converted to cash or cash equivalents, net of attorney&#146;s fees, accountants&#146; fees, underwriters&#146; or placement agents&#146; fees,
discounts or commissions and brokerage, consultant and other fees incurred in connection with such issuance or sale and net of taxes paid or payable as a result thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Income</U>&#148; means, with respect to any Person, the net income (loss) of such Person and its Restricted Subsidiaries,
determined in accordance with GAAP and before any reduction in respect of preferred stock dividends. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-recourse
Indebtedness</U>&#148; means, with respect to any Person, Indebtedness of such Person as to which Wise Intermediate Holdings and any Restricted Subsidiary shall not be directly or indirectly liable (by virtue of Wise Intermediate Holdings or any
such Restricted Subsidiary being the primary obligor on, guarantor of or otherwise liable in any respect to such Indebtedness, except for a Lien on the Equity Interests of an Unrestricted Subsidiary to the creditors thereof which is not recourse to
any other assets of Wise Intermediate Holdings or a Restricted Subsidiary), and which, upon the occurrence of a default with respect to such Indebtedness, does not result in, or permit any holder of any Indebtedness of Wise Intermediate Holdings or
any Restricted Subsidiary to declare, a default on such Indebtedness of Wise Intermediate Holdings or any Restricted Subsidiary or cause the payment of Indebtedness of Wise Intermediate Holdings or any Restricted Subsidiary to be accelerated or
payable prior to its Stated Maturity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Non-U.S. Person</U>&#148; means a Person who is not a U.S. Person. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Notes</U>&#148; means any Note authenticated and delivered under this Indenture,
including the Initial Notes, any PIK Notes and any Additional Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Offering Memorandum</U>&#148; means the offering
memorandum, dated April&nbsp;11, 2014, relating to the sale of the Initial Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Offer to Purchase</U>&#148; means an offer to
purchase Notes by the Issuers from the Holders commenced by mailing a notice to the Trustee and each Holder stating: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) the covenant
pursuant to which the offer to purchase is being made and that all Notes validly tendered will be accepted for payment on a <U>pro rata</U> basis; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the purchase price and the date of purchase (which shall be a Business Day no earlier than 30&nbsp;days nor later than 60&nbsp;days from
the date such notice is mailed) (the &#147;<U>Payment Date</U>&#148;); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) that any Note not tendered will continue to accrue interest
pursuant to its terms; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) that, unless the Issuers default in the payment of the purchase price, any Note accepted for payment pursuant
to the Offer to Purchase shall cease to accrue interest on and after the Payment Date; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) that Holders electing to have a Note purchased
pursuant to the Offer to Purchase will be required to surrender the Note, together with the form entitled &#147;Option of Holder to Elect Purchase&#148; on the reverse side of the Note completed, to the Paying Agent at the address specified in the
notice prior to the close of business on the third Business Day immediately preceding the Payment Date; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) that Holders whose Notes
are being purchased only in part will be issued new Notes equal in principal amount to the unpurchased portion of the Notes surrendered; <U>provided</U> that each Note purchased and each new Note issued shall be in a principal amount of $2,000 or
integral multiples of $1,000 in excess thereof (or if a PIK Payment has been made, in integral multiples of $1.00&nbsp;except that no partial purchase will be permitted that would result in a Note having a remaining principal amount of less than
$1.00). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Payment Date, the Issuers shall (a)&nbsp;accept for payment on a <U>pro rata</U> basis Notes or portions thereof tendered
pursuant to an Offer to Purchase; (b)&nbsp;deposit with the Paying Agent money sufficient to pay the purchase price of all Notes or portions thereof so accepted; and (c)&nbsp;deliver, or cause to be delivered, to the Trustee all Notes or portions
thereof so accepted together with an Officers&#146; Certificate specifying the Notes or portions thereof accepted for payment by the Issuers. The Paying Agent shall promptly mail to the Holders of Notes so accepted payment in an amount equal to the
purchase price, and the Trustee shall promptly authenticate and mail to such Holders a new Note equal in principal amount to any unpurchased portion of the Note surrendered; <U>provided</U> that each Note purchased and each new Note issued shall be
in a principal amount of $2,000 or integral multiples of $1,000 in excess thereof (or if a PIK Payment has been made, in a principal amount of $1.00 and any integral multiple of $1.00 in excess thereof). The Issuers will publicly announce the
results of an Offer to Purchase as soon as </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
reasonably practicable after the Payment Date. The Trustee may act as the Paying Agent for an Offer to Purchase. The Issuers will comply with Rule&nbsp;14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent such laws and regulations are applicable, in the event that the Issuers are required to repurchase Notes pursuant to an Offer to Purchase and if following that law or applicable securities
laws and regulations conflicts with this Indenture, the Issuers will comply with the law and applicable securities laws and regulations and shall not be deemed to have breached their obligations described in this Indenture by virtue thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Officer</U>&#148; means, with respect to any of the Issuers or any Guarantor, (i)&nbsp;the Chairman of the Board, any Vice Chairman
of the Board, the Chief Executive Officer, the Chief Operating Officer, the President, any Senior Vice President, any Vice President or the Chief Financial Officer, and (ii)&nbsp;the Treasurer or any Assistant Treasurer, or the Secretary or any
Assistant Secretary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Officers&#146; Certificate</U>&#148; means a certificate signed by one Officer listed in
clause&nbsp;(i)&nbsp;of the definition thereof and one Officer listed in clause&nbsp;(ii)&nbsp;of the definition thereof or two officers listed in clause&nbsp;(i)&nbsp;of the definition thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>OID Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(iv)&nbsp;to be placed on all Notes issued under this
Indenture that have more than a <U>de minimis</U> amount of original issue discount for U.S. federal income tax purposes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Opco</U>&#148; means Wise Metals Group, LLC, a Delaware limited liability company and a wholly owned direct subsidiary of Wise
Intermediate Holdings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Opco Restricted Subsidiary</U>&#148; means a &#147;Restricted Subsidiary&#148; as such term is defined in
the Existing Opco Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Opinion of Counsel</U>&#148; means a written opinion from legal counsel which is reasonably
acceptable to the Trustee. The counsel may be an employee of or counsel to the Issuers or a Restricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Participant</U>&#148; means, with respect to the Depositary, Euroclear or Clearstream, a Person who has an account with the
Depositary, Euroclear or Clearstream, respectively (and, with respect to DTC, shall include Euroclear and Clearstream). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Business</U>&#148; means any business conducted or proposed to be conducted (as described in the Offering Memorandum) by
Wise Intermediate Holdings and its Subsidiaries on the Closing Date and other businesses reasonably related or ancillary thereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Holders</U>&#148; means (i)&nbsp;David D&#146;Addario, (ii)&nbsp;members of his immediate family, (iii)&nbsp;corporations,
partnerships, limited liability companies or other entities which are owned or controlled by David D&#146;Addario or members of his immediate family and (iv)&nbsp;trusts created by David D&#146;Addario or members of his immediate family for the
benefit of David D&#146;Addario and members of his immediate family. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Indebtedness</U>&#148; means Indebtedness that falls into any of the following
categories: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) Indebtedness of Wise Intermediate Holdings or any of its Restricted Subsidiaries outstanding on the Closing Date (other
than Indebtedness outstanding under any Credit Facilities); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) the Notes offered by the Offering Memorandum or any PIK Payment and the
related Subsidiary Guarantees (if any); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) Indebtedness under Credit Facilities outstanding at any time in an aggregate principal amount
not to exceed the greater of $300 million and the Borrowing Base (less the aggregate principal amount of Indebtedness incurred by Securitization Entities and then outstanding pursuant to clause&nbsp;(11) of this definition of Permitted
Indebtedness); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Indebtedness under the Rexam Obligations; <U>provided</U> that the aggregate principal amount of such Indebtedness does
not to exceed $25.0 million, less the aggregate amount of all repayments, repurchases, redemptions, rebates or credits, whether optional or mandatory, in respect thereof, plus interest thereon (whether or not capitalized) at the rate provided in the
Rexam Documents and any permitted refinancing thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Indebtedness issued in exchange for, or the net proceeds of which are used to
refinance or refund (which shall include extensions, renewals, replacements, defeasances, discharges, deferrals, amendments, supplements and modifications), then outstanding Indebtedness (other than Indebtedness outstanding under clauses&nbsp;(3),
(6), (7), (8), (9), (10), (11), (12), (13), (14), (15), (16)&nbsp;and (17))&nbsp;and any refinancings thereof in an amount not to exceed the amount so refinanced or refunded (plus premiums (including tender premiums), accrued interest, defeasance
costs, fees and expenses and, in the case of convertible Indebtedness, including any equity component representing the issuance date estimated fair value of the conversion feature); <U>provided</U> that (a)&nbsp;Indebtedness the proceeds of which
are used to refinance or refund the Notes or Indebtedness that is <U>pari passu</U> with, or subordinated in right of payment to, the Notes or the applicable Subsidiary Guarantee (if any) shall only be permitted under this clause&nbsp;(5) if
(x)&nbsp;in case the Notes are refinanced in part or the Indebtedness to be refinanced is <U>pari passu</U> with the Notes or the applicable Subsidiary Guarantee, such new Indebtedness, by its terms or by the terms of any agreement or instrument
pursuant to which such new Indebtedness is outstanding, is expressly made <U>pari passu</U> with, or subordinate in right of payment to, the remaining Notes or the applicable Subsidiary Guarantee, or (y)&nbsp;in case the Indebtedness to be
refinanced is subordinated in right of payment to the Notes or the applicable Subsidiary Guarantee such new Indebtedness, by its terms or by the terms of any agreement or instrument pursuant to which such new Indebtedness is issued or remains
outstanding, is expressly made subordinate in right of payment to the Notes or the applicable Subsidiary Guarantee at least to the extent that the Indebtedness to be refinanced is subordinated to the Notes, (b)&nbsp;such new Indebtedness, determined
as of the date of incurrence of such new Indebtedness, does not mature prior to the Stated Maturity of the Indebtedness to be refinanced or refunded, and the Average Life of such new Indebtedness is at least equal to the remaining Average Life of
the Indebtedness to be refinanced or refunded and (c)&nbsp;Indebtedness of the Issuers or a Guarantor may only be refinanced with Indebtedness of the Issuers or a Guarantor for purposes of this clause&nbsp;(5); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) Intercompany Debt Obligations between or among Wise Intermediate Holdings and any of its
Restricted Subsidiaries; <U>provided</U> that (a)&nbsp;any subsequent issuance or transfer of any Equity Interests that results in such Indebtedness being held by a Person other than Wise Intermediate Holdings or a Restricted Subsidiary and
(b)&nbsp;any sale or other transfer of such Indebtedness to a Person other than Wise Intermediate Holdings or a Restricted Subsidiary shall each be deemed to be an incurrence of Indebtedness by the obligor that is not permitted by this
clause&nbsp;(6) if and to the extent that such obligor is Wise Intermediate Holdings or a continuing Restricted Subsidiary of Wise Intermediate Holdings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) additional Indebtedness of Wise Intermediate Holdings and its Restricted Subsidiaries in an aggregate principal amount outstanding at any
time not to exceed the greater of $25.0 million or 5.0% of Total Assets, including all Indebtedness incurred or issued to renew, refund, refinance, replace, defease or discharge any Indebtedness pursuant to this clause&nbsp;(7); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) Indebtedness represented by Guarantees by Wise Intermediate Holdings or its Restricted Subsidiaries of Indebtedness otherwise permitted to
be incurred; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) Indebtedness of Wise Intermediate Holdings or any Restricted Subsidiary consisting of Guarantees, indemnities or
obligations in respect of purchase price adjustments, holdbacks or contingency payments in connection with the acquisition or disposition of assets (other than Guarantees of Indebtedness incurred by any Person acquiring such assets for the purpose
of financing such acquisition), so long as the amount does not exceed the gross proceeds actually received by Wise Intermediate Holdings in connection with such disposition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) Indebtedness of Wise Intermediate Holdings or any of its Restricted Subsidiaries in respect to performance bonds, bankers&#146;
acceptances, workers compensation claims, bid, surety or appeal bonds payment obligations, earn-outs, insurance premium financing agreements, <FONT STYLE="white-space:nowrap">self-insurance</FONT> or similar obligations, bank overdrafts and similar
obligations in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) Indebtedness incurred by a Securitization Entity in connection with a Qualified
Securitization Transaction that is Non-recourse Indebtedness with respect to Wise Intermediate Holdings and its Restricted Subsidiaries (except for Standard Securitization Undertakings); <U>provided</U>, <U>however</U>, that in the event such
Securitization Entity ceases to qualify as a Securitization Entity or such Indebtedness becomes recourse to Wise Intermediate Holdings or any of its Restricted Subsidiaries, such Indebtedness will, in each case, be deemed to be, and must be
classified by Wise Intermediate Holdings as, incurred at such time (or at the time initially incurred) under one more of the other provisions of this definition or Section&nbsp;4.03; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) Indebtedness incurred by Wise Intermediate Holdings or any Restricted Subsidiary (including Acquired Indebtedness, Capital Lease
Obligations, sale-leaseback transactions, mortgage financings or purchase money obligations) and Disqualified Stock or preferred stock issued by Wise Intermediate Holdings or any Restricted Subsidiary, in each case, for the purpose of financing all
or any part of the purchase price, lease or cost of design, construction, installation or improvement of property (real or personal), plant, equipment or other assets used in the business of Wise Intermediate Holdings or any Restricted Subsidiary,
in an aggregate principal amount at the time incurred, not to exceed the greater of $25.0 million or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
5.0% of Total Assets at any time outstanding, including all Indebtedness and Disqualified Stock or preferred stock incurred or issued to renew, refund, refinance, replace, defease or discharge
any Indebtedness, Disqualified Stock and preferred stock incurred pursuant to this clause&nbsp;(12); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) the incurrence by Wise
Intermediate Holdings or any Restricted Subsidiary of Hedging Obligations not for speculative purposes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) Indebtedness, other than in
respect of borrowed money, and incurred in the ordinary course of business (including customer deposits and advance payments received; take-or-pay obligations contained in supply arrangements; and open accounts extended by suppliers on normal trade
terms in connection with purchases of goods and services which are not overdue for a period of more than 90&nbsp;days or, if overdue for more than 90&nbsp;days, as to which a dispute exists and adequate reserves in conformity with GAAP have been
established on the books of Wise Intermediate Holdings or a Restricted Subsidiary); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(15) Indebtedness representing deferred compensation
to employees of Wise Intermediate Holdings or any Restricted Subsidiary incurred in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(16) Indebtedness
incurred by Wise Intermediate Holdings or any Restricted Subsidiary constituting reimbursement obligations with respect to letters of credit issued in the ordinary course of business to the extent not drawn upon or, if drawn upon, repaid within
10&nbsp;Business&nbsp;Days; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(17) Indebtedness constituting or arising under Bank Products incurred by Wise Intermediate Holdings or
any Restricted Subsidiary in the ordinary course of business (other than Indebtedness under clause&nbsp;(e) of the definition of &#147;Bank Products&#148;). </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Investments</U>&#148; means, for any Person, Investments made on or after the Closing Date consisting of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) Investments by Wise Intermediate Holdings, or by a Restricted Subsidiary thereof, in Wise Intermediate Holdings or a Restricted Subsidiary
(other than a Securitization Entity) or in a Person, if as a result of such Investment (a)&nbsp;such Person becomes a Restricted Subsidiary of Wise Intermediate Holdings (other than a Securitization Entity) or (b)&nbsp;such Person is merged,
consolidated or amalgamated with or into, or transfers or conveys all or substantially all of its assets to, or is liquidated into, Wise Intermediate Holdings or any Restricted Subsidiary thereof (other than a Securitization Entity); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) cash or Temporary Cash Investments; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) an Investment that is made as a result of the receipt of non-cash consideration from an Asset Sale that was made pursuant to, and in
compliance with, Section&nbsp;4.07 or any disposition of assets not constituting an Asset Sale; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Investments consisting of
(a)&nbsp;loans and advances to employees, officers and directors for reasonable travel, relocation and business expenses in the ordinary course of business not to exceed $2.0 million in the aggregate at any one time outstanding and (b)&nbsp;loans to
employees, officers and directors of Wise Intermediate Holdings or its Restricted Subsidiaries for the sole purpose of purchasing equity of Wise Intermediate Holdings not to exceed $7.5 million in the aggregate at any one time outstanding; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Investments existing on, or made pursuant to binding commitments existing on, the Closing
Date; <U>provided</U> that the amount of any such Investment may be increased (a)&nbsp;as required by the terms of such Investment as in existence on the Closing Date or (b)&nbsp;as otherwise permitted under this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) Investments of Wise Intermediate Holdings or any Restricted Subsidiary in connection with Hedging Obligations that are incurred for the
purpose of fixing or hedging risk and not for speculative purposes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) Investments consisting of endorsements for collection or deposit
in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) Investments in suppliers or customers that are received in compromise or resolution of litigation,
arbitration or other disputes or of obligations of trade creditors or customers that were incurred in the ordinary course of business of Wise Intermediate Holdings and its Restricted Subsidiaries, including pursuant to bankruptcy, receivership or
similar proceedings or as a result of foreclosure on a secured Investment in a third party received in exchange for or cancellation of an existing obligation of such supplier or customer to Wise Intermediate Holdings or a Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) Investments paid for solely with Equity Interests (other than Disqualified Stock) of Wise Intermediate Holdings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) deposits required by government agencies, public utilities or suppliers in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) prepaid expenses incurred in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) extensions of trade credit in the ordinary course of business recorded as accounts receivable; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) Investments acquired after the Closing Date as a result of the acquisition by Wise Intermediate Holdings or any Restricted Subsidiary of
another Person, including by way of a merger, amalgamation or consolidation with or into Wise Intermediate Holdings or any of its Restricted Subsidiaries in a transaction that is not prohibited by Section&nbsp;5.01 after the Closing Date to the
extent that such Investments were not made in contemplation of such acquisition, merger, amalgamation or consolidation and were in existence on the date of such acquisition, merger, amalgamation or consolidation; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) Investments with respect to performance bonds, bankers&#146; acceptance, workers&#146; compensation claims, surety or appeal bond
payments, obligations in connection with self-insurance or similar obligations and bank overdrafts; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(15) Investments in joint ventures,
partnerships or otherwise, not to exceed $20.0 million at any time outstanding; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(16) Investments by Wise Intermediate Holdings or a Restricted Subsidiary in a Securitization
Entity in connection with a Qualified Securitization Transaction, which Investment is in the good faith determination of Wise Intermediate Holdings necessary or advisable to effect such Qualified Securitization Transaction; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(17) Investments consisting of the licensing, sublicensing or contribution of intellectual property pursuant to joint marketing arrangements;
provided that such licenses, sublicenses or contributions, individually or in the aggregate, do not materially adversely affect or reduce the value of the intellectual property retained by Wise Intermediate Holdings or any Restricted Subsidiary; and
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(18) Investments (other than Investments specified in clauses (1)&nbsp;through (17)&nbsp;above) in an aggregate amount, as valued at the
time each such Investment is made, not to exceed the greater of $15.0 million or 3.0% of Total Assets at any time after the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Liens</U>&#148; means Liens that fit into any of the following categories: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any Lien with respect to the Credit Agreement or any other Credit Facility so long as the aggregate principal amount outstanding under the
Credit Agreement any successor Credit Facility that is secured pursuant to this clause&nbsp;(1)&nbsp;is incurred under and does not exceed the principal amount which could be borrowed under clause&nbsp;(3)&nbsp;of the definition of &#147;Permitted
Indebtedness&#148;; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) Liens on the Specified Mill Assets securing the Rexam Obligations to the extent permitted under
clause&nbsp;(4)&nbsp;of the definition of &#147;Permitted Indebtedness;&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) any Liens on assets of Wise Intermediate Holdings or any
Restricted Subsidiary existing on the Closing Date (including the Liens with respect to the Existing Opco Indenture) other than Liens securing the Credit Agreement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Liens on assets acquired after the Closing Date that were existing at the time of the acquisition by Wise Intermediate Holdings or any
Restricted Subsidiary thereof; <U>provided</U> such Liens were in existence prior to the contemplation of such acquisition and do not extend to any other assets; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Liens on assets to secure the purchase price of assets to be acquired and Indebtedness permitted by clause&nbsp;(12) of the definition of
&#147;Permitted Indebtedness,&#148; which Liens cover only the assets acquired with such Indebtedness and proceeds or products of such property or assets or improvements of such property or assets; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) Liens on the assets of a Restricted Subsidiary (other than FinCo) that is not a Guarantor securing Indebtedness of a Restricted Subsidiary
that is not a Guarantor incurred in accordance with Section&nbsp;4.03; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) Liens on an entity or its assets existing at the time the
entity becomes a Restricted Subsidiary or is merged with Wise Intermediate Holdings or any of its Restricted Subsidiaries or assumed in connection with the acquisition of its assets; <U>provided</U> that such Liens were in existence prior to the
contemplation of such acquisition or merger and do not extend to any assets other than those of the Person that becomes a Restricted Subsidiary or is merged with Wise Intermediate Holdings or any of its Restricted Subsidiaries; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) statutory liens of landlords and carriers&#146;, warehousemen&#146;s, mechanics&#146;,
materialmen&#146;s, repairmen&#146;s or other like Liens for amounts not overdue for more than 90&nbsp;days or being contested in good faith by appropriate proceedings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) judgment Liens and other similar Liens arising in the ordinary course of business; <U>provided</U> that (a)&nbsp;the enforcement of the
Liens is stayed, (b)&nbsp;the claims secured by the Liens are being actively contested, in good faith and by appropriate proceedings, and (c)&nbsp;the judgment would not otherwise constitute a Default or Event of Default under this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) Liens securing Intercompany Debt Obligations incurred in accordance with this Indenture (other than Liens in favor of a Securitization
Entity); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) Liens for taxes, assessments or governmental charges not yet overdue for a period of more than 30&nbsp;days or payable or
subject to penalties for nonpayment or that are being contested in good faith; <U>provided</U> that any reserve or other appropriate provision as shall be required in conformity with GAAP shall have been made therefor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) Liens on property of a Foreign Subsidiary to secure Indebtedness solely of that Foreign Subsidiary that is otherwise permitted under the
terms of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) Liens on foreign bank accounts in accordance with customary banking practice; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) easements, rights-of-way, restrictions and other similar encumbrances to the extent they are incurred in the ordinary course of business;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(15) pledges or deposits made in the ordinary course of business in connection with workers&#146; compensation, unemployment insurance and
other social security legislation; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(16) deposits and other Liens to secure letters of credit and bank Guarantees and the performance of
bids, trade contracts (other than for borrowed money), leases, statutory obligations, surety and appeal bonds, performance bonds and other similar obligations incurred in the ordinary course of business; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(17) judgment Liens not giving rise to an Event of Default so long as such Lien is adequately bonded and any appropriate legal proceedings
which may have been duly initiated for the review of such judgment shall not have been terminated or the period within which such proceedings may be initiated shall not have expired; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(18) Liens to secure Hedging Obligations and obligations with respect to Bank Products, in each case, incurred in the ordinary course of
business, and in the case of Hedging Obligations for the purpose of fixing or hedging interest rate risk, foreign currency risk or financial and other similar risks (including commodity and fuel price risks) and not for speculative purposes (other
than Liens securing obligations described in clause&nbsp;(e) of the definition of &#147;Bank Products&#148;); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(19) Liens in favor of customs and revenue authorities arising as a matter of law to serve as
payment of custom duties in connection with the importation of goods; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(20) leases, subleases or licenses and sublicenses granted to others
that do not materially interfere with the ordinary course of business of Wise Intermediate Holdings and its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(21)
Liens arising from the filing of UCC financing statements regarding leases; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(22) Liens in favor of Wise Intermediate Holdings or a
Restricted Subsidiary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(23) Liens securing Indebtedness which is incurred to refinance secured Indebtedness; <U>provided</U> that such
Liens do not extend to or cover any property or assets of Wise Intermediate Holdings or any Restricted Subsidiary other than the property or assets securing the Indebtedness being refinanced; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(24) Liens created for the benefit of (or to secure) the Notes or any Subsidiary Guarantees of the Notes (if any); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(25) Liens on insurance policies and proceeds thereof, or other deposits, to secure insurance premium financings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(26) Liens on cash or other property securing Indebtedness to defease, discharge or redeem the Notes; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(27) customary options, put and call arrangements, rights of first refusal and similar rights relating to Investments in joint ventures or
partnerships; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(28) restrictions on dispositions of assets to be disposed of pursuant to merger agreements, stock or asset purchase
agreements and similar agreements; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(29) Liens on Equity Interests in Unrestricted Subsidiaries securing only Indebtedness of Unrestricted
Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(30) Liens deemed to exist in connection with repurchase agreements and other similar investments to the extent such
Investments are permitted under this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(31) Liens on assets transferred to a Securitization Entity or on assets of a
Securitization Entity, in either case transferred in connection with a Qualified Securitization Transaction; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(32) Liens on assets of
Wise Intermediate Holdings or any Restricted Subsidiary not otherwise permitted by clause&nbsp;(1)&nbsp;through (31)&nbsp;above securing Indebtedness in aggregate principal amount at any time not to exceed $10.0&nbsp;million. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Permitted Tax Distributions</U>&#148; means the payment of any dividend or distribution
to, or the payment of any dividend or distribution to a direct or indirect parent company of Wise Intermediate Holdings in order to make payments to, the direct or indirect holders of Equity Interests in Wise Intermediate Holdings (who are not
exempt from tax in respect of Wise Intermediate Holdings&#146; income) in an amount not to exceed the net taxable income of Wise Intermediate Holdings allocable to such holders multiplied by 48.8%. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148; means an individual, a corporation, a partnership, a limited liability company, a joint venture, an association, a
trust, an unincorporated organization or any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Private Placement Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(i)&nbsp;to be placed on all Notes issued under
this Indenture, except where specifically stated otherwise by the provisions of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>QIB</U>&#148; means a
&#147;qualified institutional buyer&#148; as defined in Rule&nbsp;144A. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Qualified Securitization Transaction</U>&#148; means any
transaction or series of transactions that may be entered into by Wise Intermediate Holdings or any Restricted Subsidiary pursuant to which (a)&nbsp;Wise Intermediate Holdings or any Restricted Subsidiary may sell, convey or otherwise transfer to a
Securitization Entity its interests in Receivables and Related Assets and (b)&nbsp;such Securitization Entity transfers to any other Person, or grants a security interest in, such Receivables and Related Assets, pursuant to a transaction customary
in the industry which is used to achieve a transfer of financial assets under GAAP. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rating Agencies</U>&#148; means
(1)&nbsp;S&amp;P and Moody&#146;s or (2)&nbsp;if S&amp;P or Moody&#146;s or both of them are not making ratings of the Notes publicly available, a &#147;nationally recognized statistical rating agency&#148; within the meaning of Section&nbsp;3(62)
of the Exchange Act, as the case may be, selected by the Issuers, which will be substituted for S&amp;P or Moody&#146;s or both, as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rating Category</U>&#148; means (1)&nbsp;with respect to S&amp;P, any of the following categories (any of which may include a
&#147;+&#148; or &#147;-&#148;): AAA, AA, A, BBB, BB, B, CCC, CC, C and D (or equivalent successor categories), (2)&nbsp;with respect to Moody&#146;s, any of the following categories: Aaa, Aa, A, Baa, Ba, B, Caa, Ca, C and D (or equivalent successor
categories), and (3)&nbsp;the equivalent of any such categories of S&amp;P or Moody&#146;s used by another Rating Agency, if applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receivables and Related Assets</U>&#148; means any account receivable (whether now existing or arising thereafter) of Wise
Intermediate Holdings or any Restricted Subsidiary, and any assets related thereto including all collateral securing such accounts receivable, all contracts and contract rights and all Guarantees or other obligations in respect of such accounts
receivable, proceeds of such accounts receivable and other assets which are customarily transferred or in respect of which security interests are customarily granted in connection with asset securitization transactions involving accounts receivable.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Record Date</U>&#148; for the interest payable on any applicable Interest Payment Date means the June&nbsp;1 or December&nbsp;1
(whether or not a Business Day) immediately preceding such Interest Payment Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Date</U>&#148; when used with respect to any Note to be redeemed pursuant to
any provision in this Indenture means the date fixed for such redemption pursuant to this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Redemption Price</U>&#148;
means, when used with respect to any Note to be redeemed, the price at which such Note is to be redeemed pursuant to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S</U>&#148; means Regulation&nbsp;S promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Global Note</U>&#148; means a Regulation&nbsp;S Temporary Global Note or a Regulation&nbsp;S Permanent Global Note,
as appropriate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Permanent Global Note</U>&#148; means a Global Note substantially in the form of
<U>Exhibit&nbsp;A-1</U> hereto, bearing the Global Note Legend, the OID Legend (if applicable) and the Private Placement Legend and deposited with or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination
equal to the outstanding principal amount of the Notes sold in reliance on Regulation&nbsp;S. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Temporary Global
Note</U>&#148; means a temporary Global Note in the form of <U>Exhibit&nbsp;A-2</U>, bearing the Global Note Legend, OID Legend (if applicable), the Private Placement Legend and the Regulation&nbsp;S Temporary Global Note Legend and deposited with
or on behalf of and registered in the name of the Depositary or its nominee, issued in a denomination equal to the outstanding principal amount of the Notes initially sold in reliance on Rule&nbsp;903 of Regulation&nbsp;S. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulation&nbsp;S Temporary Global Note Legend</U>&#148; means the legend set forth in Section&nbsp;2.06(g)(v)&nbsp;to be placed on
the Regulation&nbsp;S Temporary Global Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Replacement Assets</U>&#148; means, on any date, property or assets (other than
current assets) of a nature or type or that are used in a business (or an Investment in a company having property or assets of a nature or type, or engaged in a business) similar or related or complementary to the nature or type of the property and
assets of, or the business of, Wise Intermediate Holdings and its Restricted Subsidiaries existing on such date; <U>provided</U> that in the case of Replacement Assets in the form of Equity Interests of a Person, such Person is, or becomes as a
result of the acquisition of such Equity Interests, a Restricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Responsible Officer</U>&#148; means, when used with
respect to the Trustee, any officer within the corporate trust department of the Trustee, including any vice president, assistant vice president, trust officer or any other officer of the Trustee who customarily performs functions similar to those
performed by the Persons who at the time shall be such officers, respectively, or to whom any corporate trust matter is referred because of such Person&#146;s knowledge of and familiarity with the particular subject and who shall have direct
responsibility for the administration of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Definitive Note</U>&#148; means a Definitive Note bearing
the Private Placement Legend and the OID Legend (if applicable). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">25 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Global Note</U>&#148; means a Global Note bearing the Private Placement
Legend and the OID Legend (if applicable). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Investment</U>&#148; means an Investment made after the Closing Date other
than Permitted Investments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Payment</U>&#148; means Wise Intermediate Holdings or any of its Restricted Subsidiaries,
directly or indirectly, does any of the following: (1)&nbsp;either (a)&nbsp;declares or pays any dividend on or makes any distribution in respect of its Equity Interests or to the direct or indirect holders of its Equity Interests in their capacity
as such (other than dividends or distributions payable in its Equity Interests (other than Disqualified Stock) or to Wise Intermediate Holdings or any of its Restricted Subsidiaries), or (b)&nbsp;purchases, redeems or retires for value Equity
Interests of Wise Intermediate Holdings (other than Equity Interests owned by Wise Intermediate Holdings or any of its Restricted Subsidiaries); (2)&nbsp;makes any principal payment on or with respect to, or redeems, repurchases, defeases or
otherwise acquires or retires for value prior to its scheduled maturity, scheduled repayment or scheduled sinking fund payment, any Indebtedness of Wise Intermediate Holdings or a Restricted Subsidiary that is contractually subordinated in right of
payment to the Notes or any Subsidiary Guarantee (other than (x)&nbsp;Intercompany Debt Obligations permitted under clause&nbsp;(6) of the definition of &#147;Permitted Indebtedness&#148; or (y)&nbsp;in anticipation of satisfying a principal
payment, final maturity or sinking fund obligation, in each case due within one year of the date of such payment, purchase, repurchase or other acquisition) or (3)&nbsp;makes any Restricted Investment. For the avoidance of doubt, no Indebtedness
will be deemed to be subordinated in right of payment to any other Indebtedness solely by virtue of being unsecured, by virtue of being secured by different collateral or by virtue of the fact that the holders of any secured Indebtedness have
entered into intercreditor agreements giving one or more of such holders priority over the other holders in the collateral held by them or with respect to control of remedies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Period</U>&#148; means the 40-day distribution compliance period as defined in Regulation&nbsp;S. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Restricted Subsidiary</U>&#148; means any Subsidiary of either Wise Intermediate Holdings (including FinCo) or FinCo, other than an
Unrestricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam</U>&#148; means Rexam Beverage Can Company, a Delaware corporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam Documents</U>&#148; means the Rexam Advance Extension Agreement, dated as of August&nbsp;21, 2012, by and between Wise Alloys
LLC and Rexam, the Security Agreement, dated as of August&nbsp;21, 2012, by and between Wise Alloys LLC and Rexam and other related documents, each as amended from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rexam Obligations</U>&#148; means all obligations, liabilities and Indebtedness of every kind, nature and description owing by any of
Opco, Wise Finance or the guarantors under the Existing Opco Indenture to Rexam, including the principal amount of up to $25,000,000 in the aggregate plus any interest, charges, fees, premiums, indemnities and expenses, however evidenced, whether as
principal, surety, endorser, guarantor or otherwise, in each case arising under the Rexam Documents, whether now existing or hereafter arising, whether arising before </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">26 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
or after the commencement of any case with respect to any of Opco, Wise Finance or the guarantors under the Existing Opco Indenture under the United States Bankruptcy Code or any similar statute
(and including, without limitation, any principal, interest, fees, costs, expenses and other amounts, whether or not such amounts are allowable in whole or in part, in any such case or similar proceeding), whether direct or indirect, absolute or
contingent, joint or several, due or not due, primary or secondary, liquidated or unliquidated, secured or unsecured, and whether arising directly or howsoever acquired by Rexam. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;144</U>&#148; means Rule&nbsp;144 promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;144A</U>&#148; means Rule&nbsp;144A promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;903</U>&#148; means Rule&nbsp;903 promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Rule&nbsp;904</U>&#148; means Rule&nbsp;904 promulgated under the Securities Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>S&amp;P</U>&#148; means Standard&nbsp;&amp; Poor&#146;s Ratings Services, a division of McGraw-Hill Financial, Inc. and its
successors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sale and Leaseback Transactions</U>&#148; means, with respect to Wise Intermediate Holdings or any Restricted
Subsidiary, any transaction involving any of the assets or properties of such Person whether now owned or hereafter acquired, whereby Wise Intermediate Holdings or a Restricted Subsidiary sells or transfers such assets or properties and then or
thereafter leases such assets or properties or any part thereof or any other assets or properties that Wise Intermediate Holdings or such Restricted Subsidiary, as the case may be, intends to use for substantially the same purpose or purposes as the
assets or properties sold or transferred; <U>provided</U> that the following shall be excluded from the definition: (1)&nbsp;a lease for a period, including renewal rights, of not in excess of four years; (2)&nbsp;any lease that secures or relates
to industrial revenue or pollution control bonds; (3)&nbsp;any transaction that is solely between Wise Intermediate Holdings and one or more Wholly Owned Restricted Subsidiaries or solely between Wholly Owned Restricted Subsidiaries; (4)&nbsp;any
transaction in which Wise Intermediate Holdings or such Restricted Subsidiary, within 12&nbsp;months after the sale or transfer of any assets or properties is completed, applies an amount not less than the net proceeds received from such sale in
accordance with Section&nbsp;4.07 to the extent required thereby; and (5)&nbsp;any single transaction or series of related transactions that involve assets having a Fair Market Value of less than $2.5&nbsp;million or Wise Intermediate Holdings
receiving aggregate consideration of less than $2.5 million. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>SEC</U>&#148; means the U.S. Securities and Exchange Commission.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securities Act</U>&#148; means the Securities Act of 1933, as amended, or any successor statute, and the rules and regulations
promulgated by the SEC thereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securitization Entity</U>&#148; means a Subsidiary of Wise Intermediate Holdings to which the
Issuers transfer or any Subsidiary of the Issuers transfers Receivables and Related Assets that engages in no activities other than in connection with the financing of Receivables and Related Assets and that is designated by Wise Intermediate
Holdings&#146; Board of Directors (as provided below) as a Securitization Entity and: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">27 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) no portion of the Indebtedness or any other obligations (contingent or otherwise) of which:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) is Guaranteed by the Issuers or any Restricted Subsidiary (excluding Guarantees (other than for the principal of, and
interest on, Indebtedness) pursuant to Standard Securitization Undertakings); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) is recourse to or obligates the Issuers
or any Restricted Subsidiary (other than such Securitization Entity) in any way other than pursuant to Standard Securitization Undertakings; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) subjects any property or asset of the Issuers or any Restricted Subsidiary (other than such Securitization Entity),
directly or indirectly, contingently or otherwise, to the satisfaction thereof, other than pursuant to Standard Securitization Undertakings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) with which neither the Issuers nor any Restricted Subsidiary (other than such Securitization Entity) has any material contract, agreement,
arrangement or understanding other than on terms not materially less favorable to the Issuers or such Restricted Subsidiary than those that might be obtained at the time from Persons that are not Affiliates of the Issuers, other than fees payable in
the ordinary course of business in connection with servicing accounts receivable; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) to which neither Issuer nor any Restricted
Subsidiary (other than such Securitization Entity) has any obligation to maintain or preserve such entity&#146;s financial condition or cause such entity to achieve certain levels of operating results. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any designation of a Subsidiary as a Securitization Entity shall be evidenced to the Trustee by delivering to the Trustee a certified copy of
the resolution of the Board of Directors of Wise Intermediate Holdings giving effect to the designation and an Officers&#146; Certificate of Wise Intermediate Holdings certifying that the designation complied with the preceding conditions and was
permitted by this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securitization Fees</U>&#148; means reasonable distributions or payments made directly or by means
of discounts with respect to any participation interest issued or sold in connection with, and other fees paid to a Person that is not a Securitization Entity in connection with, any Qualified Securitization Transaction. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Securitization Repurchase Obligation</U>&#148; means any obligation of a seller of Receivables and Related Assets in a Qualified
Securitization Transaction to repurchase Receivables and Related Assets arising as a result of a breach of a representation, warranty or covenant or otherwise that are customary for an accounts receivable securitization transaction, including,
without limitation, as a result of a receivable or portion thereof becoming subject to any asserted defense, dispute, offset or counterclaim of any kind as a result of any action taken by, any failure to take action by or any other event relating to
the seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Senior Indebtedness</U>&#148; means Indebtedness of the Issuers or a Guarantor that is not Subordinated
Indebtedness. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">28 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Significant Subsidiary</U>&#148; means, at any date of determination, any Restricted
Subsidiary that, together with its Subsidiaries, (1)&nbsp;for the most recent fiscal year of Wise Intermediate Holdings, accounted for more than 10% of the consolidated revenues of Wise Intermediate Holdings and its Restricted Subsidiaries or
(2)&nbsp;as of the end of such fiscal year, was the owner of more than 10% of the consolidated assets of Wise Intermediate Holdings and its Restricted Subsidiaries, all as set forth on the most recently available consolidated financial statements of
Wise Intermediate Holdings for such fiscal year. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Specified Mill Assets</U>&#148; means certain equipment and fixtures of Opco,
Wise Finance and the guarantors under the Existing Opco Indenture constituting the three-stand cold mill located in Muscle Shoals, Alabama. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Standard Securitization Undertakings</U>&#148; means representations, warranties, covenants and indemnities entered into by the
Issuers or any Restricted Subsidiary that are reasonably customary in an accounts receivable securitization transaction, including without limitation, those relating to the servicing of the assets of a Securitization Entity; it being understood that
any Securitization Repurchase Obligation that is customary in a Qualified Securitization Transaction shall be deemed to be a Standard Securitization Undertaking. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Stated Maturity</U>&#148; means, (1)&nbsp;with respect to any debt security, the date specified in such debt security as the fixed
date on which the final installment of principal of such debt security is due and payable and (2)&nbsp;with respect to any scheduled installment of principal of or interest on any debt security, the date specified in such debt security as the fixed
date on which such installment is due and payable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subordinated Indebtedness</U>&#148; means Indebtedness of the Issuers or a
Guarantor (if any) that is contractually subordinated in right of payment to the Notes or a Subsidiary Guarantee (if any), as the case may be. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary</U>&#148; means, with respect to any Person, any corporation or other entity more than fifty percent (50%)&nbsp;of whose
Equity Interests having by the terms thereof, at that time, ordinary voting power to elect a majority of the directors (or comparable positions) of such entity is at the time owned by such Person directly or indirectly through Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Subsidiary Guarantee</U>&#148; means a Guarantee of the Notes in accordance with the terms of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Temporary Cash Investments</U>&#148; means: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) investments in marketable direct obligations issued or guaranteed by the United States of America, or of any governmental agency or
political subdivision thereof, maturing within 18&nbsp;months of the date of purchase; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) investments in certificates of deposit, time
deposits, overnight bank deposits, money market deposits and banker&#146;s acceptances issued by a bank organized under the laws of the United States of America or any state thereof or the District of Columbia, in each case having capital and
unimpaired surplus totaling more than $500,000,000 and rated at least A-1 by S&amp;P or P-1 by Moody&#146;s (or such similar equivalent rating by another Rating Agency) (any such bank, an &#147;<U>Approved Bank</U>&#148;) maturing within
397&nbsp;days of purchase; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">29 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) repurchase obligations with a term of not more than seven (7)&nbsp;days for underlying
securities of the types described in clauses (1)&nbsp;and (2)&nbsp;above entered into with any Approved Bank; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) commercial paper or
finance company paper issued by any Person incorporated under the laws of the United States or any state thereof and rated at least A-1 by S&amp;P or P-1 by Moody&#146;s (or such similar equivalent rating by another Rating Agency), in each case
maturing within 397&nbsp;days of purchase; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Investments not exceeding 397&nbsp;days in duration in money market funds that invest
substantially all of such funds&#146; assets in the Investments described in the preceding clauses (1)&nbsp;through (4); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) in the
case of Wise Intermediate Holdings&#146; non-U.S. Restricted Subsidiaries, short-term investments made in the ordinary course of business or with a commercial bank organized under the laws of any foreign jurisdiction which is a member of the
Organisation Economic <FONT STYLE="white-space:nowrap">Co-operation</FONT> and Development, or a political subdivision of any such foreign jurisdiction, and having a combined capital and surplus of at least the equivalent of $100,000,000;
<U>provided</U> that such bank is acting through a branch or agency located in the country in which it is organized or another country which is also a member of the Organisation Economic Co-operation and Development. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Total Assets</U>&#148; means the total consolidated assets of Wise Intermediate Holdings and its Restricted Subsidiaries as
determined by the most recent consolidated balance sheet of Wise Intermediate Holdings and its Restricted Subsidiaries (which, in the case of determination of any amount by reference to Total Assets shall also give <U>pro forma</U> effect to any
acquisition or disposition occurring on or prior to the date of determination). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transactions</U>&#148; means the issuance of the
Initial Notes on the Closing Date, the payment of the Holdings Distribution, an equity contribution to Opco and the other uses of proceeds, in each case, as described in the Offering Memorandum, and any fees and expenses related to any of the
foregoing. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transfer Agent</U>&#148; means the Person specified in Section&nbsp;2.03 as the Transfer Agent, and any and all
successors thereto, to receive on behalf of the Registrar any Notes for transfer or exchange pursuant to this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Treasury Rate</U>&#148; means, as of any Redemption Date, the yield to maturity as of such Redemption Date of United States Treasury
securities with a constant maturity (as compiled and published in the most recent Federal Reserve Statistical Release H.15 (519)&nbsp;that has become publicly available at least two Business Days prior to the Redemption Date (or, if such statistical
release is no longer published, any publicly available source of similar market data)) most nearly equal to the period from the Redemption Date to June&nbsp;15, 2016; <U>provided</U>, <U>however</U>, that if the period from the Redemption Date to
June&nbsp;15, 2016 is not equal to the constant maturity of the United States Treasury security for which a weekly average yield is given, the Treasury Rate </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">30 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
shall be obtained by linear interpolation (calculated to the nearest one-twelfth of a year) from the weekly average yields of United States Treasury securities for which such yields are given,
except that if the period from such date of redemption to June&nbsp;15, 2016 is less than one year, the weekly average yield on actually traded United States Treasury securities adjusted to a constant maturity of one year shall be used. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trust Indenture Act</U>&#148; means the Trust Indenture Act of 1939 (15&nbsp;U.S.C.&nbsp;&#167;&#167;&nbsp;77aaa-77bbbb) as in effect
on the Closing Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Trustee</U>&#148; means Wilmington Trust, National Association, as trustee, until a successor replaces it
in accordance with Section&nbsp;7.08 and thereafter means the successor serving hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>UCC</U>&#148; means the Uniform
Commercial Code as in effect from time to time in the State of New York. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Definitive Note</U>&#148; means one or
more Definitive Notes that do not bear and are not required to bear the Private Placement Legend. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Global
Note</U>&#148; means a permanent Global Note, substantially in the form of <U>Exhibit&nbsp;A-1</U> attached hereto, that bears the Global Note Legend and the OID Legend (if applicable) and that has the &#147;Schedule&nbsp;of Exchanges of Interests
in the Global Note&#148; attached thereto, and that is deposited with or on behalf of and registered in the name of the Depositary, representing Notes that do not bear the Private Placement Legend. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unrestricted Subsidiary</U>&#148; means (a)&nbsp;Wise Recycling, LLC; (b)&nbsp;any Subsidiary of Wise Intermediate Holdings that at
the time of determination shall be designated an Unrestricted Subsidiary by the Board of Directors of Wise Intermediate Holdings in the manner provided below; and (c)&nbsp;any Subsidiary of an Unrestricted Subsidiary. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Government Obligations</U>&#148; means securities that are (1)&nbsp;direct obligations of the United States of America for the
payment of which its full faith and credit is pledged or (2)&nbsp;obligations of a Person controlled or supervised by and acting as an agency or instrumentality of the United States of America the payment of which is unconditionally guaranteed as a
full faith and credit obligation by the United States of America, which, in either case, are not callable or redeemable at the option of the issuer thereof at any time prior to the Stated Maturity of the Notes, and shall also include a depository
receipt issued by a bank or trust company as custodian with respect to any such U.S. Government Obligation or a specific payment of interest on or principal of any such U.S. Government Obligation held by such custodian for the account of the holder
of a depository receipt; <U>provided</U> that (except as required by law) such custodian is not authorized to make any deduction from the amount payable to the holder of such depository receipt from any amount received by the custodian in respect of
the U.S. Government Obligation or the specific payment of interest on or principal of the U.S. Government Obligation evidenced by such depository receipt. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>U.S. Person</U>&#148; means a U.S. person as defined in Rule&nbsp;902(k) under the Securities Act. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">31 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wholly Owned</U>&#148; means, with respect to any Subsidiary of any Person, the
ownership of all of the outstanding capital stock of such Subsidiary (other than any director&#146;s qualifying shares or Investments by foreign nationals mandated by applicable law) by such Person or one or more Wholly Owned Subsidiaries of such
Person. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">&#147;<U>Wise Finance</U>&#148; means Wise Alloys Finance Corporation, a Delaware corporation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">32 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.02 <U>Other Definitions</U>. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="89%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:17.30pt; font-size:8pt; font-family:Times New Roman">Term</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Defined&nbsp;in<BR>Section</TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Authentication Order</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.02</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Cash Interest</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Exhibits&nbsp;A-1<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and A-2</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Change of Control Purchase Price</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.09</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>DTC</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Event of Default</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">6.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Excess Proceeds</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.07</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Payments</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.04</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Guaranteed Indebtedness</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.08</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Interest Period</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">Exhibits A-1<BR> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">and A-2</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Note Register</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Pari Passu Indebtedness</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.07</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Paying Agent</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>PIK Notes</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>PIK Payment</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Registrar</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">2.03</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Reinstatement Date</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.20</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Surviving Entity</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">5.01</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Suspended Covenants</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.20</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&#147;<U>Suspension Period</U>&#148;</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">4.20</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.03 <U>Rules of Construction</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Unless the context otherwise requires: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) a term has the meaning assigned to it; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) &#147;or&#148; is not exclusive; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) words in the singular include the plural, and in the plural include the singular; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) &#147;will&#148; shall be interpreted to express a command; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) provisions apply to successive events and transactions; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) references to sections of, or rules under, the Securities Act shall be deemed to include substitute, replacement or successor sections or
rules adopted by the SEC from time to time; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">33 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) unless the context otherwise requires, any reference to an &#147;Article,&#148;
&#147;Section&#148; or &#147;clause&#148; refers to an Article, Section&nbsp;or clause, as the case may be, of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) the
words &#147;herein,&#148; &#147;hereof&#148; and &#147;hereunder&#148; and other words of similar import refer to this Indenture as a whole and not any particular Article, Section, clause&nbsp;or other subdivision; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) &#147;including&#148; means &#147;including without limitation.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;1.04 <U>Acts of Holders</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any request, demand, authorization, direction, notice, consent, waiver or other action provided by this Indenture to be given or taken by
Holders may be embodied in and evidenced by one or more instruments of substantially similar tenor signed by such Holders in person or by an agent duly appointed in writing. Except as herein otherwise expressly provided, such action shall become
effective when such instrument or instruments or record or both are delivered to the Trustee and, where it is hereby expressly required, to the Issuers. Proof of execution of any such instrument or of a writing appointing any such agent, or the
holding by any Person of a Note, shall be sufficient for any purpose of this Indenture and (subject to Section&nbsp;7.01) conclusive in favor of the Trustee and the Issuers, if made in the manner provided in this Section&nbsp;1.04. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The fact and date of the execution by any Person of any such instrument or writing may be proved by the affidavit of a witness of such
execution or by the certificate of any notary public or other officer authorized by law to take acknowledgments of deeds, certifying that the individual signing such instrument or writing acknowledged to him the execution thereof. Where such
execution is by or on behalf of any legal entity other than an individual, such certificate or affidavit shall also constitute proof of the authority of the Person executing the same. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved in any other manner that the Trustee deems sufficient. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
The ownership of Notes shall be proved by the Note Register. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Any request, demand, authorization, direction, notice, consent, waiver or
other action by the Holder of any Note shall bind every future Holder of the same Note and the Holder of every Note issued upon the registration of transfer thereof or in exchange therefor or in lieu thereof, in respect of any action taken, suffered
or omitted by the Trustee or the Issuers in reliance thereon, whether or not notation of such action is made upon such Note. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The
Issuers may set a record date for purposes of determining the identity of Holders entitled to give any request, demand, authorization, direction, notice, consent, waiver or take any other act, or to vote or consent to any action by vote or consent
authorized or permitted to be given or taken by Holders. Unless otherwise specified, if not set by the Issuers prior to the first solicitation of a Holder made by any Person in respect of any such action, or in the case of any such vote, prior to
such vote, any such record date shall be the later of 30&nbsp;days prior to the first solicitation of such consent or the date of the most recent list of Holders furnished to the Trustee prior to such solicitation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">34 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Without limiting the generality of the foregoing, a Holder entitled to take any action
hereunder with regard to any particular Note may do so with regard to all or any part of the principal amount of such Note or by one or more duly appointed agents, each of which may do so pursuant to such appointment with regard to all or any part
of such principal amount. Any notice given or action taken by a Holder or its agents with regard to different parts of such principal amount pursuant to this paragraph&nbsp;shall have the same effect as if given or taken by separate Holders of each
such different part. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) Without limiting the generality of the foregoing, a Holder, including DTC, that is the Holder of a Global Note
may make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be made, given or taken by Holders, and DTC, as the Holder
of a Global Note, may provide its proxy or proxies to the beneficial owners of interests in any such Global Note through such depositary&#146;s standing instructions and customary practices. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) The Issuers may fix a record date for the purpose of determining the Persons who are beneficial owners of interests in any Global Note held
by DTC entitled under the procedures of such depositary to make, give or take, by a proxy or proxies duly appointed in writing, any request, demand, authorization, direction, notice, consent, waiver or other action provided in this Indenture to be
made, given or taken by Holders. If such a record date is fixed, the Holders on such record date or their duly appointed proxy or proxies, and only such Persons, shall be entitled to make, give or take such request, demand, authorization, direction,
notice, consent, waiver or other action, whether or not such Holders remain Holders after such record date. No such request, demand, authorization, direction, notice, consent, waiver or other action shall be valid or effective if made, given or
taken more than 90&nbsp;days after such record date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 2 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">THE NOTES </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.01
<U>Form&nbsp;and Dating; Terms</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>General</U>. The Notes and the Trustee&#146;s certificate of authentication shall be
substantially in the form of <U>Exhibit&nbsp;A</U> hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rules or usage. Each Note shall be dated the date of its authentication. The Notes shall be in minimum
denominations of $2,000 principal amount and integral multiples of $1,000 in excess thereof; <U>provided</U> that after a PIK Payment, the Notes shall be in minimum denominations of $1.00 and any integral multiple of $1.00 in excess thereof. PIK
Payments on the PIK Notes will be made in PIK Note denominations of $1.00 and any integral multiple of $1.00 in excess thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
<U>Global Notes</U>. Notes issued in global form shall be substantially in the form of <U>Exhibit&nbsp;A</U> hereto (including the Global Note Legend thereon and the &#147;Schedule&nbsp;of Exchanges of Interests in the Global Note&#148; attached
thereto). Notes issued in definitive form </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">35 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
shall be substantially in the form of <U>Exhibit&nbsp;A</U> attached hereto (but without the Global Note Legend thereon and without the &#147;Schedule&nbsp;of Exchanges of Interests in the Global
Note&#148; attached thereto). Each Global Note shall represent such of the outstanding Notes as shall be specified in the &#147;Schedule&nbsp;of Exchanges of Interests in the Global Note&#148; attached thereto and each shall provide that it shall
represent up to the aggregate principal amount of Notes from time to time endorsed thereon and that the aggregate principal amount of outstanding Notes represented thereby may from time to time be reduced or increased, as applicable, to reflect
exchanges and redemptions. Any endorsement of a Global Note to reflect the amount of any increase or decrease in the aggregate principal amount of outstanding Notes represented thereby shall be made by the Trustee or the Custodian, at the direction
of the Trustee, in accordance with instructions given by the Holder thereof as required by Section&nbsp;2.06. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Following the termination of
the Restricted Period, beneficial interests in the Regulation&nbsp;S Temporary Global Note, if any, will be exchanged for beneficial interests in the Regulation&nbsp;S Permanent Global Note pursuant to the Applicable Procedures. Simultaneously with
the authentication of the Regulation&nbsp;S Permanent Global Note, the Trustee will cancel the Regulation&nbsp;S Temporary Global Note. The aggregate principal amount of the Regulation&nbsp;S Temporary Global Note and the Regulation&nbsp;S Permanent
Global Note may from time to time be increased or decreased by adjustments made on the records of the Trustee and the Depositary or its nominee, as the case may be, in connection with transfers of interest as hereinafter provided. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Terms</U>. The aggregate principal amount of Notes that may be authenticated and delivered under this Indenture is unlimited. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The terms and provisions contained in the Notes shall constitute, and are hereby expressly made, a part of this Indenture and the Issuers and
the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions of this Indenture, the
provisions of this Indenture shall govern and be controlling. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Notes shall be subject to repurchase by the Issuers pursuant to an
Offer to Purchase as provided in Section&nbsp;4.07 or Section&nbsp;4.09. The Notes shall not be redeemable, other than as provided in Article&nbsp;3 and Section&nbsp;4.09. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Additional Notes and PIK Notes ranking <U>pari passu</U> with the Initial Notes may be created and issued from time to time by the Issuers
without notice to or consent of the Holders and shall be consolidated with and form a single class with the Initial Notes and shall have the same terms as to status, redemption or otherwise (other than with respect to the purchase price thereof and
the date from which the interest accrues) as the Initial Notes; <U>provided</U> that the Issuers&#146; ability to issue Additional Notes shall be subject to the Issuers&#146; compliance with Section&nbsp;4.03 and Section&nbsp;4.06. The Initial Notes
and any Additional Notes or PIK Notes shall be substantially identical other than the issuance dates, offering price, transfer restrictions and, if applicable, the date from which interest shall accrue. Except as described under Article&nbsp;9, the
Initial Notes, any Additional Notes and any PIK Notes subsequently issued under this Indenture will be treated as a single class for all purposes under this Indenture, including waivers, amendments, redemptions and offers to purchase. Unless the
context requires otherwise, references to &#147;Notes&#148; for all purposes of this Indenture include any Additional Notes that are </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">36 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
actually issued and any references to &#147;principal amount of the Notes&#148; include any increase in the principal amount of the outstanding Notes as a result of the issuance of Additional
Notes and any PIK Payment. Any Additional Notes shall be issued with the benefit of an indenture supplemental to this Indenture. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)
<U>Euroclear and Clearstream Procedures Applicable</U>. The provisions of the &#147;Operating Procedures of the Euroclear System&#148; and &#147;Terms and Conditions Governing Use of Euroclear&#148; and the &#147;General Terms and Conditions of
Clearstream Banking&#148; and &#147;Customer Handbook&#148; of Clearstream shall be applicable to transfers of beneficial interests in the Regulation&nbsp;S Temporary Global Note and the Regulation&nbsp;S Permanent Global Note that are held by
Participants through Euroclear or Clearstream. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>PIK Payments</U>. In connection with the payment of PIK Interest in respect of the
Notes, the Issuers may, upon compliance with the conditions set forth in the Notes, without the consent of the Holders and without regard to any restrictions or limitations set forth in Section&nbsp;4.03, elect to either increase the outstanding
principal amount of the Global Notes or issue additional certificated Notes (&#147;<U>PIK Notes</U>&#148;) under this Indenture on the same terms and conditions as the Initial Notes (in each case, a &#147;<U>PIK Payment</U>&#148;). In the event that
the Issuers shall be entitled to pay PIK Interest for any Interest Period, then the Issuers shall deliver an Officers&#146; Certificate to the Trustee three Business Days prior to the commencement of the relevant Interest Period, which notice shall
state the total amount of interest to be paid on such Interest Payment Date and the amount of such interest to be paid as PIK Interest. The Issuers shall promptly deliver a copy of the notice to the Holders (or may request the Trustee to deliver
such notice on their behalf). Interest for the first Interest Period commencing on the Closing Date shall be payable entirely in Cash Interest. Interest for the final Interest Period ending at the stated maturity of the Notes shall be payable
entirely as Cash Interest. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.02 <U>Execution and Authentication</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At least one Officer shall execute the Notes on behalf of the Issuers by manual or facsimile signature. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on a Note no longer holds that office at the time a Note is authenticated, the Note shall nevertheless be
valid. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Note shall not be entitled to any benefit under this Indenture or be valid or obligatory for any purpose until authenticated
substantially in the form provided for in <U>Exhibit&nbsp;A</U> attached hereto, by the manual signature of the Trustee. The signature shall be conclusive evidence that the Note has been duly authenticated and delivered under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Closing Date, the Trustee shall, upon receipt of the Issuers&#146; order (an &#147;<U>Authentication Order</U>&#148;), authenticate and
deliver the Initial Notes. In addition, at any time, from time to time, the Trustee shall, upon receipt of an Authentication Order, authenticate and deliver any Additional Notes and PIK Notes. Such Authentication Order shall specify the amount of
the Notes to be authenticated and, in the case of any issuance of Additional Notes pursuant to Section&nbsp;2.01, shall certify that such issuance is in compliance with Section&nbsp;4.03 and Section&nbsp;4.06. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">37 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may appoint an authenticating agent acceptable to the Issuers to authenticate Notes.
An authenticating agent may authenticate Notes whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent. An authenticating agent has the same rights as an Agent to deal
with Holders or an Affiliate of the Issuers. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.03 <U>Registrar and Paying Agent</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall maintain an office or agency where Notes may be presented for registration of transfer or for exchange
(&#147;<U>Registrar</U>&#148;) and an office or agency where Notes may be presented for payment (&#147;<U>Paying Agent</U>&#148;) in Wilmington, Delaware, which shall initially be one of the corporate trust offices of the Trustee located in
Wilmington, Delaware. The Registrar shall keep a register of the Notes (&#147;<U>Note Register</U>&#148;) and of their transfer and exchange. The Issuers may appoint one or more co-registrars and one or more additional paying agents. The term
&#147;Registrar&#148; includes any co-registrar and the term &#147;Paying Agent&#148; includes any additional paying agent. The Issuers may change any Paying Agent or Registrar without prior notice to any Holder. The Issuers shall notify the Trustee
in writing of the name and address of any Agent not a party to this Indenture. If the Issuers fail to appoint or maintain another entity as Registrar or Paying Agent, the Trustee shall act as such. Either Issuer or any of their Subsidiaries may act
as Paying Agent or Registrar. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers initially appoint The Depository Trust Company (&#147;<U>DTC</U>&#148;) to act as Depositary
with respect to the Global Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers initially appoint the Trustee to act as the Paying Agent, Registrar and Transfer Agent for
the Notes and the Registrar to act as Custodian with respect to the Global Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.04 <U>Paying Agent to Hold Money in
Trust</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall require each Paying Agent, other than the Trustee, to agree in writing that the Paying Agent shall hold in
trust for the benefit of Holders or the Trustee all money held by the Paying Agent for the payment of principal, premium, if any, or interest on the Notes, and will notify the Trustee of any default by the Issuers in making any such payment. While
any such default continues, the Trustee may require a Paying Agent to pay all money held by it to the Trustee. The Issuers at any time may require a Paying Agent to pay all money held by it to the Trustee. Upon payment over to the Trustee, the
Paying Agent (if other than an Issuer or a Subsidiary) shall have no further liability for the money so paid. If an Issuer or a Subsidiary acts as Paying Agent, it shall segregate and hold in a separate trust fund for the benefit of the Holders all
money held by it as Paying Agent. Upon any bankruptcy or reorganization proceedings relating to the Issuers, the Trustee shall serve as Paying Agent for the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.05 <U>Holder Lists</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to it of the names and addresses of
all Holders. If the Trustee is not the Registrar, the Issuers shall furnish to the Trustee at least five Business Days before each Interest Payment Date and at such other times as the Trustee may request in writing, a list in such form and as of
such date as the Trustee may reasonably require of the names and addresses of the Holders of Notes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">38 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.06 <U>Transfer and Exchange</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Transfer and Exchange of Global Notes</U>. Except as otherwise set forth in this Section&nbsp;2.06, a Global Note may be transferred, in
whole and not in part, only to another nominee of the Depositary or to a successor Depositary or a nominee of such successor Depositary. A beneficial interest in a Global Note may not be exchanged for a Definitive Note unless (i)&nbsp;the Depositary
notifies the Issuers that it is unwilling or unable to continue as Depositary for such Global Note and the Issuers fail to appoint a successor Depositary within 90&nbsp;days or (ii)&nbsp;there shall have occurred and be continuing an Event of
Default with respect to the Notes. Upon the occurrence of any of the preceding events in (i)&nbsp;or (ii)&nbsp;above, Definitive Notes delivered in exchange for any Global Note or beneficial interests therein will be registered in the names, and
issued in any approved denominations, requested by or on behalf of the Depositary (in accordance with its customary procedures). Global Notes also may be exchanged or replaced, in whole or in part, as provided in Sections 2.07 and 2.10. Every Note
authenticated and delivered in exchange for, or in lieu of, a Global Note or any portion thereof, pursuant to this Section&nbsp;2.06, Section&nbsp;2.07 or Section&nbsp;2.10, shall be authenticated and delivered in the form of, and shall be, a Global
Note, except for Definitive Notes issued subsequent to any of the preceding events in (i)&nbsp;or (ii)&nbsp;above and pursuant to Section&nbsp;2.06(c) or (e). A Global Note may not be exchanged for another Note other than as provided in this
Section&nbsp;2.06(a); <U>provided</U>, <U>however</U>, beneficial interests in a Global Note may be transferred and exchanged as provided in Sections 2.06(b)&nbsp;and (c). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Transfer and Exchange of Beneficial Interests in the Global Notes</U>. The transfer and exchange of beneficial interests in the Global
Notes shall be effected through the Depositary, in accordance with the provisions of this Indenture and the Applicable Procedures. Beneficial interests in the Restricted Global Notes shall be subject to restrictions on transfer comparable to those
set forth herein to the extent required by the Securities Act. Transfers of beneficial interests in the Global Notes also shall require compliance with either subparagraph&nbsp;(i)&nbsp;or (ii)&nbsp;below, as applicable, as well as one or more of
the other following subparagraphs, as applicable: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Transfer of Beneficial Interests in the Same Global Note</U>.
Beneficial interests in any Restricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in the same Restricted Global Note in accordance with the transfer restrictions set forth in the Private
Placement Legend; <U>provided</U>, <U>however</U>, that prior to the expiration of the Restricted Period, transfers of beneficial interests in the Regulation&nbsp;S Temporary Global Note may not be made to a U.S. Person or for the account or benefit
of a U.S. Person (other than an Initial Purchaser). Beneficial interests in any Unrestricted Global Note may be transferred to Persons who take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note. No written orders
or instructions shall be required to be delivered to the Registrar to effect the transfers described in this Section&nbsp;2.06(b)(i). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">39 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) <U>All Other Transfers and Exchanges of Beneficial Interests in Global
Notes</U>. In connection with all transfers and exchanges of beneficial interests that are not subject to Section&nbsp;2.06(b)(i), the transferor of such beneficial interest must deliver to the Registrar either (A)&nbsp;(1)&nbsp;a written order from
a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to credit or cause to be credited a beneficial interest in another Global Note in an amount equal to the
beneficial interest to be transferred or exchanged and (2)&nbsp;instructions given in accordance with the Applicable Procedures containing information regarding the Participant account to be credited with such increase or (B)&nbsp;(1)&nbsp;a written
order from a Participant or an Indirect Participant given to the Depositary in accordance with the Applicable Procedures directing the Depositary to cause to be issued a Definitive Note in an amount equal to the beneficial interest to be transferred
or exchanged and (2)&nbsp;instructions given by the Depositary to the Registrar containing information regarding the Person in whose name such Definitive Note shall be registered to effect the transfer or exchange referred to in (1)&nbsp;above;
<U>provided</U> that in no event shall Definitive Notes be issued upon the transfer or exchange of beneficial interests in the Regulation&nbsp;S Temporary Global Note prior to (A)&nbsp;the expiration of the Restricted Period and (B)&nbsp;the receipt
by the Registrar of any certificates required pursuant to Rule&nbsp;903; <U>provided</U>, <U>further</U>, that in no event shall a beneficial interest in an Unrestricted Global Note be credited, or an Unrestricted Definitive Note be issued, to a
Person who is an affiliate (as defined in Rule&nbsp;144) of the Issuers. Upon satisfaction of all of the requirements for transfer or exchange of beneficial interests in Global Notes contained in this Indenture and the Notes or otherwise applicable
under the Securities Act, the Trustee shall adjust the principal amount of the relevant Global Note(s) pursuant to Section&nbsp;2.06(h). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) <U>Transfer of Beneficial Interests to Another Restricted Global Note</U>. A beneficial interest in any Restricted Global
Note may be transferred to a Person who takes delivery thereof in the form of a beneficial interest in another Restricted Global Note if the transfer complies with the requirements of Section&nbsp;2.06(b)(ii)&nbsp;and the Registrar receives the
following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transferee will take delivery in the form of a beneficial interest in the 144A Global Note, then
the transferor must deliver a certificate in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transferee will take delivery in the form of a beneficial interest in the Regulation&nbsp;S Temporary Global Note
or the Regulation&nbsp;S Permanent Global Note, then the transferor must deliver a certificate in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(2)&nbsp;thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) <U>Transfer and Exchange of Beneficial Interests in a Restricted Global Note for Beneficial Interests in an Unrestricted
Global Note</U>. A beneficial interest in any Restricted Global Note may be exchanged by any Holder thereof for a beneficial interest in an Unrestricted Global Note or transferred to a Person who takes delivery thereof in the form of a beneficial
interest in an Unrestricted Global Note if: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">40 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) the exchange or transfer complies with the requirements of
Section&nbsp;2.06(b)(ii); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for a
beneficial interest in an Unrestricted Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(a)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of a beneficial interest in an Unrestricted Global Note, a certificate from such holder in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(4)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">If any such transfer is effected pursuant to this Section&nbsp;2.06(b)(iv)&nbsp;at a time when an Unrestricted Global
Note has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in accordance with Section&nbsp;2.02, the Trustee shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to
the aggregate principal amount of beneficial interests transferred pursuant to this Section&nbsp;2.06(b)(iv). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Beneficial interests in an
Unrestricted Global Note cannot be exchanged for, or transferred to Persons who take delivery thereof in the form of, a beneficial interest in a Restricted Global Note. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Transfer or Exchange of Beneficial Interests for Definitive Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Beneficial Interests in Restricted Global Notes to Restricted Definitive Notes</U>. If any holder of a beneficial
interest in a Restricted Global Note proposes to exchange such beneficial interest for a Restricted Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Restricted Definitive Note, then,
upon the occurrence of any of the events in clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;2.06(a)&nbsp;and receipt by the Registrar of the following documentation: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">41 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the holder of such beneficial interest in a Restricted Global Note
proposes to exchange such beneficial interest for a Restricted Definitive Note, a certificate from such holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(2)(a)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such beneficial interest is being transferred to a QIB in accordance with Rule&nbsp;144A, a certificate substantially
in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such
beneficial interest is being transferred to a Non-U.S. Person in an offshore transaction in accordance with Rule&nbsp;903 or Rule&nbsp;904, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in
item&nbsp;(2)&nbsp;thereof; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such beneficial interest is being transferred pursuant to an exemption from the
registration requirements of the Securities Act in accordance with Rule&nbsp;144, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(a)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such beneficial interest is being transferred to the Issuers or any of the Restricted Subsidiaries, a certificate
substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(b)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such beneficial interest is being transferred pursuant to an effective registration statement under the Securities Act,
a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(c)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(G) if such beneficial interest is being transferred to an Institutional Accredited Investor in reliance on an exemption from
the registration requirements of the Securities Act other than those listed in subparagraphs (B)&nbsp;through (D)&nbsp;above, a certificate to the effect set forth in <U>Exhibit&nbsp;B</U> hereto, including the certifications, certificates and
Opinion of Counsel required by item&nbsp;(3)(d)&nbsp;thereof, if applicable; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">the Trustee shall cause the aggregate principal amount of the
applicable Global Note to be reduced accordingly pursuant to Section&nbsp;2.06(h), and the Issuers shall execute and the Trustee shall authenticate and mail to the Person designated in the instructions a Definitive Note in the applicable principal
amount. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section&nbsp;2.06(c)&nbsp;shall be registered in such name or names and in such authorized denomination or denominations as the
holder of such beneficial interest shall instruct the Registrar through instructions from the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive Notes to the Persons in whose names such Notes are so
registered. Any Definitive Note issued in exchange for a beneficial interest in a Restricted Global Note pursuant to this Section&nbsp;2.06(c)(i)&nbsp;shall bear the Private Placement Legend, the OID Legend and the Regulation&nbsp;S Temporary Global
Note Legend, as applicable, and shall be subject to all restrictions on transfer contained therein. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">42 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) <U>Beneficial Interests in Regulation&nbsp;S Temporary Global Note to
Definitive Notes</U>. Notwithstanding Sections 2.06(c)(i)(A)&nbsp;and (C), a beneficial interest in the Regulation&nbsp;S Temporary Global Note may not be exchanged for a Definitive Note or transferred to a Person who takes delivery thereof in the
form of a Definitive Note prior to (A)&nbsp;the expiration of the Restricted Period and (B)&nbsp;the receipt by the Registrar of any certificates required pursuant to Rule&nbsp;903(b)(3)(ii)(B)&nbsp;under the Securities Act, except in the case of a
transfer pursuant to an exemption from the registration requirements of the Securities Act other than Rule&nbsp;903 or Rule&nbsp;904. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) <U>Beneficial Interests in Restricted Global Notes to Unrestricted Definitive Notes</U>. A holder of a beneficial
interest in a Restricted Global Note may exchange such beneficial interest for an Unrestricted Definitive Note or may transfer such beneficial interest to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) only upon the occurrence of any of the events in clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;2.06(a); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) if the holder of such beneficial interest in a Restricted Global Note proposes to exchange such beneficial interest for an
Unrestricted Definitive Note, a certificate from such holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(b)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:17%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) if the holder of such beneficial interest in a Restricted Global Note proposes to transfer such beneficial interest to a
Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such holder substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(4)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) <U>Beneficial Interests in Unrestricted Global Notes to Unrestricted Definitive Notes</U>. If any
holder of a beneficial interest in an Unrestricted Global Note proposes to exchange such beneficial interest for a Definitive Note or to transfer such beneficial interest to a Person who takes delivery thereof in the form of a Definitive Note, then,
upon the occurrence of any of the events in clauses (i)&nbsp;or (ii)&nbsp;of Section&nbsp;2.06(a)&nbsp;and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">43 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">
satisfaction of the conditions set forth in Section&nbsp;2.06(b)(ii), the Trustee shall cause the aggregate principal amount of the applicable Global Note to be reduced accordingly pursuant to
Section&nbsp;2.06(h), and the Issuers shall execute and the Trustee shall authenticate and mail to the Person designated in the instructions a Definitive Note in the applicable principal amount. Any Definitive Note issued in exchange for a
beneficial interest pursuant to this Section&nbsp;2.06(c)(iv)&nbsp;shall be registered in such name or names and in such authorized denomination or denominations as the holder of such beneficial interest shall instruct the Registrar through
instructions from or through the Depositary and the Participant or Indirect Participant. The Trustee shall mail such Definitive Notes to the Persons in whose names such Notes are so registered. Any Definitive Note issued in exchange for a beneficial
interest pursuant to this Section&nbsp;2.06(c)(iv)&nbsp;shall not bear the Private Placement Legend. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Transfer and Exchange of
Definitive Notes for Beneficial Interests</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Restricted Definitive Notes to Beneficial Interests in Restricted
Global Notes</U>. If any Holder of a Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted Global Note or to transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of
a beneficial interest in a Restricted Global Note, then, upon receipt by the Registrar of the following documentation: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Restricted Definitive Note proposes to exchange such Note for a beneficial interest in a Restricted
Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(2)(b)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if such Restricted Definitive Note is being transferred to a QIB in accordance with Rule&nbsp;144A, a certificate
substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if such Restricted Definitive Note is being transferred to a Non-U.S. Person in an offshore transaction in accordance with
Rule&nbsp;903 or Rule&nbsp;904, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(2)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) if such Restricted Definitive Note is being transferred pursuant to an exemption from the registration requirements of the
Securities Act in accordance with Rule&nbsp;144, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(a)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(E) if such Restricted Definitive Note is being transferred to the Issuers or any of the Restricted Subsidiaries, a
certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(b)&nbsp;thereof; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">44 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(F) if such Restricted Definitive Note is being transferred pursuant to an
effective registration statement under the Securities Act, a certificate substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(3)(c)&nbsp;thereof, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">the Trustee shall cancel the Restricted Definitive Note, increase or cause to be increased the aggregate principal amount of, in the case of
clause&nbsp;(A)&nbsp;above, the applicable Restricted Global Note, in the case of clause&nbsp;(B)&nbsp;above, the applicable 144A Global Note and, in the case of clause&nbsp;(C)&nbsp;above, the applicable Regulation&nbsp;S Global Note. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) <U>Restricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes</U>. A Holder of a Restricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Restricted Definitive Note to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note
only if the Registrar receives the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Definitive Notes proposes to exchange such Notes
for a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(c)&nbsp;thereof; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Definitive Notes proposes to transfer such Notes to a Person who shall take delivery thereof in the
form of a beneficial interest in the Unrestricted Global Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(4)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests or if the Applicable Procedures so require, an Opinion of Counsel in form reasonably acceptable to the
Registrar to the effect that such exchange or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with
the Securities Act. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon satisfaction of the conditions of any of the subparagraphs in this Section&nbsp;2.06(d)(ii), the
Trustee shall cancel the Definitive Notes and increase or cause to be increased the aggregate principal amount of the Unrestricted Global Note. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Notes to Beneficial Interests in Unrestricted Global Notes</U>. A Holder of an Unrestricted
Definitive Note may exchange such Note for a beneficial interest in an Unrestricted Global Note or transfer such Definitive Notes to a Person who takes delivery thereof in the form of a beneficial interest in an Unrestricted Global Note at any time.
Upon receipt of a request for such an exchange or transfer, the Trustee shall cancel the applicable Unrestricted Definitive Note and increase or cause to be increased the aggregate principal amount of one of the Unrestricted Global Notes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">45 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any such exchange or transfer from a Definitive Note to a beneficial interest is effected
pursuant to subparagraph&nbsp;(ii)&nbsp;or (iii)&nbsp;above at a time when an Unrestricted Global Note has not yet been issued, the Issuers shall issue and, upon receipt of an Authentication Order in accordance with Section&nbsp;2.02, the Trustee
shall authenticate one or more Unrestricted Global Notes in an aggregate principal amount equal to the principal amount of Definitive Notes so transferred. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Transfer and Exchange of Definitive Notes for Definitive Notes</U>. Upon request by a Holder of Definitive Notes and such Holder&#146;s
compliance with the provisions of this Section&nbsp;2.06(e), the Registrar shall register the transfer or exchange of Definitive Notes. Prior to such registration of transfer or exchange, the requesting Holder shall present or surrender to the
Registrar the Definitive Notes duly endorsed or accompanied by a written instruction of transfer in form satisfactory to the Registrar duly executed by such Holder or by its attorney, duly authorized in writing. In addition, the requesting Holder
shall provide any additional certifications, documents and information, as applicable, required pursuant to the following provisions of this Section&nbsp;2.06(e): </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Restricted Definitive Notes to Restricted Definitive Notes</U>. Any Restricted Definitive Note may be transferred to and
registered in the name of Persons who take delivery thereof in the form of a Restricted Definitive Note if the Registrar receives the following: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the transfer will be made to a QIB in accordance with Rule&nbsp;144A, then the transferor must deliver a certificate
substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(1)&nbsp;thereof; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the transfer will be made pursuant to Rule&nbsp;903 or Rule&nbsp;904, then the transferor must deliver a certificate in
the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(2)&nbsp;thereof; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) if the
transfer will be made pursuant to any other exemption from the registration requirements of the Securities Act, then the transferor must deliver a certificate in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications required by
item&nbsp;(3)&nbsp;thereof, if applicable. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) <U>Restricted Definitive Notes to Unrestricted Definitive Notes</U>. Any
Restricted Definitive Note may be exchanged by the Holder thereof for an Unrestricted Definitive Note or transferred to a Person or Persons who take delivery thereof in the form of an Unrestricted Definitive Note if the Registrar receives the
following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) if the Holder of such Restricted Definitive Notes proposes to exchange such Notes for an Unrestricted
Definitive Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;C</U> hereto, including the certifications in item&nbsp;(1)(d)&nbsp;thereof; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">46 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) if the Holder of such Restricted Definitive Notes proposes to transfer such
Notes to a Person who shall take delivery thereof in the form of an Unrestricted Definitive Note, a certificate from such Holder substantially in the form of <U>Exhibit&nbsp;B</U> hereto, including the certifications in item&nbsp;(4)&nbsp;thereof;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">and, if the Registrar so requests, an Opinion of Counsel in form reasonably acceptable to the Registrar to the effect that such exchange
or transfer is in compliance with the Securities Act and that the restrictions on transfer contained herein and in the Private Placement Legend are no longer required in order to maintain compliance with the Securities Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) <U>Unrestricted Definitive Notes to Unrestricted Definitive Notes</U>. A Holder of Unrestricted Definitive Notes may
transfer such Notes to a Person who takes delivery thereof in the form of an Unrestricted Definitive Note. Upon receipt of a request to register such a transfer, the Registrar shall register the Unrestricted Definitive Notes pursuant to the
instructions from the Holder thereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) [Reserved] </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Legends</U>. The following legends shall appear on the face of all Global Notes and Definitive Notes issued under this Indenture unless
specifically stated otherwise in the applicable provisions of this Indenture: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) Private Placement Legend. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) Except as permitted by subparagraph&nbsp;(B)&nbsp;below, each Global Note and each Definitive Note (and all Notes issued
in exchange therefor or substitution therefor) shall bear the legend in substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;THE NOTE
(OR ITS PREDECESSOR) EVIDENCED HEREBY WAS ORIGINALLY ISSUED IN A TRANSACTION EXEMPT FROM REGISTRATION UNDER SECTION 5 OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE &#147;<U>SECURITIES ACT</U>&#148;), AND THE NOTE EVIDENCED HEREBY MAY
NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN APPLICABLE EXEMPTION THEREFROM. EACH PURCHASER OF THE NOTE EVIDENCED HEREBY IS HEREBY NOTIFIED THAT THE SELLER MAY BE RELYING ON THE EXEMPTION FROM THE
PROVISIONS OF SECTION 5 OF THE SECURITIES ACT PROVIDED BY RULE&nbsp;144A THEREUNDER. THE HOLDER OF THE NOTE EVIDENCED HEREBY AGREES FOR THE BENEFIT OF THE ISSUERS THAT: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">47 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) SUCH NOTE MAY BE OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED, ONLY:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; font-size:10pt; font-family:Times New Roman">(i)(a)&nbsp;TO A PERSON WHOM THE SELLER REASONABLY BELIEVES IS A QUALIFIED INSTITUTIONAL BUYER (AS DEFINED IN RULE&nbsp;144A UNDER THE
SECURITIES ACT (&#147;<U>RULE&nbsp;144A</U>&#148;)) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;144A, (b)&nbsp;IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;144 UNDER THE SECURITIES ACT, (c)&nbsp;OUTSIDE THE UNITED STATES TO A
NON-U.S. PERSON IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE&nbsp;903 OR 904 UNDER THE SECURITIES ACT, (d)&nbsp;TO AN INSTITUTIONAL &#147;ACCREDITED INVESTOR&#148; (AS DEFINED IN RULE&nbsp;501(a)(1), (2), (3)&nbsp;OR (7)&nbsp;OF THE SECURITIES
ACT (AN &#147;<U>INSTITUTIONAL ACCREDITED INVESTOR</U>&#148;)) THAT, PRIOR TO SUCH TRANSFER, FURNISHES THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS (THE FORM OF WHICH CAN BE OBTAINED FROM THE TRUSTEE) AND, IF SUCH
TRANSFER IS IN RESPECT OF AN AGGREGATE PRINCIPAL AMOUNT OF NOTES LESS THAN $100,000, AN OPINION OF COUNSEL ACCEPTABLE TO THE ISSUERS THAT SUCH TRANSFER IS IN COMPLIANCE WITH THE SECURITIES ACT, OR (e)&nbsp;IN ACCORDANCE WITH ANOTHER EXEMPTION FROM
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL AND OTHER CERTIFICATIONS AND DOCUMENTS IF THE ISSUERS SO REQUEST), </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;TO AN ISSUER, OR </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">AND, IN EACH CASE, IN ACCORDANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER APPLICABLE
JURISDICTION AND IN EACH CASE SUBJECT TO ANY REQUIREMENT OF LAW THAT THE DISPOSITION OF THIS NOTE BY THE HOLDER OR BY ANY INVESTOR ACCOUNT OR ACCOUNTS BE AT ALL TIMES WITHIN ITS OR THEIR CONTROL; AND </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B)&nbsp;THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY PURCHASER FROM IT OF THE NOTE EVIDENCED HEREBY
OF THE RESALE RESTRICTIONS SET FORTH IN (A)&nbsp;ABOVE.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) Notwithstanding the foregoing, any Global Note or
Definitive Note issued pursuant to subparagraph&nbsp;(b)(iv), (c)(iii), (c)(iv), (d)(ii), (d)(iii), (e)(ii)&nbsp;or (e)(iii)&nbsp;of this Section&nbsp;2.06 (and all Notes issued in exchange therefor or substitution thereof) shall not bear the
Private Placement Legend. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">48 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) <U>Global Note Legend</U>. Each Global Note shall bear a legend in
substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS GLOBAL NOTE IS HELD BY THE DEPOSITARY (AS DEFINED IN THE INDENTURE GOVERNING THIS NOTE) OR
ITS NOMINEE IN CUSTODY FOR THE BENEFIT OF THE BENEFICIAL OWNERS HEREOF, AND IS NOT TRANSFERABLE TO ANY PERSON UNDER ANY CIRCUMSTANCES EXCEPT THAT (I)&nbsp;THE TRUSTEE MAY MAKE SUCH NOTATIONS HEREON AS MAY BE REQUIRED PURSUANT TO SECTION 2.06(h) OF
THE INDENTURE, (II) THIS GLOBAL NOTE MAY BE EXCHANGED IN WHOLE BUT NOT IN PART PURSUANT TO SECTION 2.06(a)&nbsp;OF THE INDENTURE, (III) THIS GLOBAL NOTE MAY BE DELIVERED TO THE TRUSTEE FOR CANCELLATION PURSUANT TO SECTION&nbsp;2.11 OF THE INDENTURE
AND (IV) THIS GLOBAL NOTE MAY BE TRANSFERRED TO A SUCCESSOR DEPOSITARY WITH THE PRIOR WRITTEN CONSENT OF THE ISSUERS. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN DEFINITIVE FORM, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT AS A
WHOLE BY THE DEPOSITARY TO A NOMINEE OF THE DEPOSITARY OR BY A NOMINEE OF THE DEPOSITARY TO THE DEPOSITARY OR ANOTHER NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR
DEPOSITARY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) (&#147;<U>DTC</U>&#148;) TO THE ISSUERS OR THEIR AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR
PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE&nbsp;&amp;&nbsp;CO. OR SUCH OTHER NAME AS MAY BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE&nbsp;&amp;&nbsp;CO. OR SUCH OTHER ENTITY AS MAY
BE REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE&nbsp;&amp; CO., HAS AN INTEREST HEREIN.&#148; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) <U>IAI Note Legend</U>. Each Definitive Note held by an Institutional Accredited Investor shall bear a legend in
substantially the following form: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;IN CONNECTION WITH ANY TRANSFER, THE HOLDER WILL DELIVER TO THE REGISTRAR AND TRANSFER AGENT SUCH
CERTIFICATES AND OTHER INFORMATION AS SUCH TRANSFER AGENT MAY REASONABLY REQUIRE TO CONFIRM THAT THE TRANSFER COMPLIES WITH THE FOREGOING RESTRICTIONS.&#148; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">49 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) <U>OID Legend</U>. Each Note issued hereunder that has more than a <U>de
minimis</U> amount of original issue discount for U.S. federal income tax purposes shall bear a legend in substantially the following form: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS NOTE IS ISSUED WITH ORIGINAL ISSUE DISCOUNT FOR PURPOSES OF SECTION 1271 ET SEQ. OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. A
HOLDER MAY OBTAIN THE ISSUE PRICE, AMOUNT OF ORIGINAL ISSUE DISCOUNT, ISSUE DATE AND YIELD TO MATURITY FOR SUCH NOTES BY SUBMITTING A WRITTEN REQUEST FOR SUCH INFORMATION TO THE ISSUERS AT THE FOLLOWING ADDRESS: WISE METALS INTERMEDIATE HOLDINGS
LLC, 4805 SECOND STREET, MUSCLE SHOALS, ALABAMA 35661 ATTENTION: CHIEF LEGAL OFFICER.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) <U>Regulation&nbsp;S
Temporary Global Note Legend</U>. Each Regulation&nbsp;S Temporary Global Note shall bear a legend in substantially the following form: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&#147;THIS GLOBAL NOTE IS A TEMPORARY GLOBAL NOTE FOR PURPOSES OF REGULATION&nbsp;S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED.
NEITHER THIS TEMPORARY GLOBAL NOTE NOR ANY INTEREST HEREIN MAY BE OFFERED, SOLD OR DELIVERED, EXCEPT AS PERMITTED UNDER THE INDENTURE REFERRED TO BELOW. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">NO BENEFICIAL OWNERS OF THIS TEMPORARY GLOBAL NOTE SHALL BE ENTITLED TO RECEIVE PAYMENT OF PRINCIPAL OR INTEREST HEREON UNLESS THE REQUIRED
CERTIFICATIONS HAVE BEEN DELIVERED PURSUANT TO THE TERMS OF THE INDENTURE.&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Cancellation and/or Adjustment of Global
Notes</U>. At such time as all beneficial interests in a particular Global Note have been exchanged for Definitive Notes or a particular Global Note has been redeemed, repurchased or canceled in whole and not in part, each such Global Note shall be
returned to or retained and canceled by the Trustee in accordance with Section&nbsp;2.11. At any time prior to such cancellation, if any beneficial interest in a Global Note is exchanged for or transferred to a Person who will take delivery thereof
in the form of a beneficial interest in another Global Note or for Definitive Notes, the principal amount of Notes represented by such Global Note shall be reduced accordingly and an endorsement shall be made on such Global Note by the Trustee or by
the Depositary at the direction of the Trustee to reflect such reduction. If the beneficial interest is being exchanged for or transferred to a Person who will take delivery thereof in the form of a beneficial interest in another Global Note, such
other Global Note shall be increased accordingly and an endorsement shall be made on such Global Note by the Trustee or by the Depositary at the direction of the Trustee to reflect such increase. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>General Provisions Relating to Transfers and Exchanges</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) To permit registrations of transfers and exchanges, the Issuers shall execute and the Trustee shall authenticate Global
Notes and Definitive Notes upon receipt of an Authentication Order in accordance with Section&nbsp;2.02 or at the Registrar&#146;s request. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">50 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) No service charge shall be made to a holder of a beneficial interest in a
Global Note or to a Holder of a Definitive Note for any registration of transfer or exchange, but the Issuers may require payment of a sum sufficient to cover any transfer tax or similar governmental charge payable in connection therewith (other
than any such transfer taxes or similar governmental charge payable upon exchange or transfer pursuant to Sections 2.10, 3.06, 4.07, 4.09 and 9.05). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) Neither the Registrar nor the Issuers shall be required to register the transfer of or exchange any Note selected for
redemption in whole or in part, except the unredeemed portion of any Note being redeemed in part. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) All Global Notes
and Definitive Notes issued upon any registration of transfer or exchange of Global Notes or Definitive Notes shall be the valid obligations of the Issuers, evidencing the same debt, and entitled to the same benefits under this Indenture, as the
Global Notes or Definitive Notes surrendered upon such registration of transfer or exchange. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) Neither the Registrar nor
the Issuers shall be required (A)&nbsp;to issue, to register the transfer of or to exchange any Notes during a period beginning at the opening of business 15&nbsp;days before the day of mailing of notice of redemption of Notes for redemption under
Section&nbsp;3.03 and ending at the close of business on the day of such mailing, (B)&nbsp;to register the transfer of or to exchange any Note so selected for redemption in whole or in part, except the unredeemed portion of any Note being redeemed
in part, or (C)&nbsp;to register the transfer of or to exchange a Note between a Record Date and the next succeeding Interest Payment Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) Prior to due presentment for the registration of a transfer of any Note, the Trustee, any Agent and the Issuers may deem
and treat the Person in whose name any Note is registered as the absolute owner of such Note for the purpose of receiving payment of principal of (and premium, if any) and interest on such Notes and for all other purposes, and none of the Trustee,
any Agent or the Issuers shall be affected by notice to the contrary. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii) Upon surrender for registration of transfer of
any Note at the office or agency of the Issuers designated pursuant to Section&nbsp;2.03, the Issuers shall execute, and the Trustee shall authenticate and mail, in the name of the designated transferee or transferees, one or more replacement Notes
of any authorized denomination or denominations of a like aggregate principal amount. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(viii) At the option of the Holder,
Notes may be exchanged for other Notes of any authorized denomination or denominations of a like aggregate principal amount upon surrender of the Notes to be exchanged at such office or agency. Whenever any Global Notes or Definitive Notes are so
surrendered for exchange, the Issuers shall execute, and the Trustee shall authenticate and mail, the replacement Global Notes and Definitive Notes which the Holder making the exchange is entitled to in accordance with the provisions of this
Section&nbsp;2.06. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">51 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ix) All certifications, certificates and Opinions of Counsel required to be
submitted to the Registrar pursuant to this Section&nbsp;2.06 to effect a registration of transfer or exchange may be submitted by facsimile or electronic transmission. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(x) The Trustee shall have no obligation or duty to monitor, determine or inquire as to compliance with any restrictions on
transfer imposed under this Indenture or under applicable law with respect to any transfer of any interest in any Note (including transfers between or among Depositary participants or beneficial owners of interests in any Global Note) other than to
require delivery of such certificates and other documentation or evidence as are expressly required by, and to do so if and when expressly required by the terms of, this Indenture, and to examine the same to determine substantial compliance as to
form with the express requirements hereof. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xi) Neither the Trustee nor any Agent shall have any responsibility or
liability for any actions taken or not taken by the Depositary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.07 <U>Replacement Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If any mutilated Note is surrendered to the Trustee or the Issuers and the Trustee receives evidence to its satisfaction of the ownership and
destruction, loss or theft of any Note, the Issuers shall issue and the Trustee, upon receipt of an Authentication Order, shall authenticate a replacement Note if the Trustee&#146;s requirements are met. An indemnity bond must be supplied by the
Holder that is sufficient in the judgment of each of the Trustee and the Issuers to protect the Issuers, the Trustee, any Agent and any authenticating agent from any loss that any of them may suffer if a Note is replaced. The Issuers and the Trustee
may charge for their expenses in replacing a Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Every replacement Note is a contractual obligation of the Issuers and shall be
entitled to all of the benefits of this Indenture equally and proportionately with all other Notes duly issued hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.08 <U>Outstanding Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Notes outstanding at any time are all the Notes authenticated by the Trustee except for those canceled by it, those delivered to it for
cancellation, those reductions in the interest in a Global Note effected by the Trustee in accordance with the provisions hereof, and those described in this Section&nbsp;2.08 as not outstanding. Except as set forth in Section&nbsp;2.09, a Note does
not cease to be outstanding because the Issuers or an Affiliate of the Issuers holds the Note. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Note is replaced pursuant to
Section&nbsp;2.07, it ceases to be outstanding unless the Trustee receives proof satisfactory to it that the replaced Note is held by a bona fide purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the principal amount of any Note is considered paid under Section&nbsp;4.01, it ceases to be outstanding and interest on it ceases to
accrue. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">52 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Paying Agent (other than the Issuers, a Subsidiary or an Affiliate of any thereof) holds,
on a Redemption Date or maturity date, money sufficient to pay Notes payable on that date, then on and after that date such Notes shall be deemed to be no longer outstanding and shall cease to accrue interest. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.09 <U>Treasury Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In determining whether the Holders of the required principal amount of Notes have concurred in any direction, waiver or consent, Notes owned by
the Issuers, or by any Affiliate of the Issuers, shall be considered as though not outstanding, except that for the purposes of determining whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Notes that a
Responsible Officer of the Trustee actually knows are so owned shall be so disregarded. Notes so owned which have been pledged in good faith shall not be disregarded if the pledgee establishes to the satisfaction of the Trustee the pledgee&#146;s
right to deliver any such direction, waiver or consent with respect to the Notes and that the pledgee is not an Issuer or any other obligor upon the Notes or any Affiliate of the Issuers or of such other obligor. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.10 <U>Temporary Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Until certificates representing Notes are ready for delivery, the Issuers may prepare and the Trustee, upon receipt of an Authentication Order,
shall authenticate temporary Notes. Temporary Notes shall be substantially in the form of certificated Notes but may have variations that the Issuers consider appropriate for temporary Notes and as shall be reasonably acceptable to the Trustee.
Without unreasonable delay, the Issuers shall prepare and the Trustee shall authenticate definitive Notes in exchange for temporary Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Holders and beneficial holders, as the case may be, of temporary Notes shall be entitled to all of the benefits accorded to Holders, or
beneficial holders, respectively, of Notes under this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.11 <U>Cancellation</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers at any time may deliver Notes to the Trustee for cancellation. The Registrar and Paying Agent shall forward to the Trustee any
Notes surrendered to them for registration of transfer, exchange or payment. The Trustee or, at the direction of the Trustee, the Registrar or the Paying Agent and no one else, shall cancel all Notes surrendered for registration of transfer,
exchange, payment, replacement or cancellation and shall dispose of such cancelled Notes in accordance with its customary procedures (subject to the record retention requirement of the Exchange Act). The Trustee shall deliver a certificate of
cancellation of Notes to the Issuers upon the Issuers&#146; written request. The Issuers may not issue new Notes to replace Notes that they have paid or that have been delivered to the Trustee for cancellation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.12 <U>Defaulted Interest</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuers default in a payment of interest on the Notes, they shall pay the defaulted interest in any lawful manner plus, to the extent
lawful, interest payable on the defaulted interest to the Persons who are Holders on a subsequent special record date, in each </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">53 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
case at the rate provided in the Notes. The Issuers shall notify the Trustee in writing of the amount of defaulted interest to be paid on each Note and the date of payment, and at the same time
the Issuers shall deposit with the Trustee an amount of money equal to the aggregate amount to be paid in respect of such defaulted interest or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of payment, such
money when deposited to be held in trust for the benefit of the Persons entitled to such defaulted interest as provided in this Section&nbsp;2.12. The Trustee shall fix or cause to be fixed each such special record date and payment date;
<U>provided</U> that no such special record date shall be less than 10&nbsp;days prior to the related payment date for such defaulted interest. The Trustee shall promptly notify the Issuers of such special record date. At least 15&nbsp;days before
the special record date, the Issuers (or, upon the written request of the Issuers, the Trustee in the name and at the expense of the Issuers) shall mail or cause to be mailed, first-class postage prepaid, to each Holder a notice at his or her
address as it appears in the Note Register that states the special record date, the related payment date and the amount of such interest to be paid. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the foregoing provisions of this Section&nbsp;2.12 and for greater certainty, each Note delivered under this Indenture upon
registration of transfer of or in exchange for or in lieu of any other Note shall carry the rights to interest accrued and unpaid, and to accrue, which were carried by such other Note. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.13 <U>CUSIP and ISIN Numbers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers in issuing the Notes may use either or both CUSIP or ISIN numbers (if then generally in use) and, if so, the Trustee shall use such
CUSIP and ISIN numbers in notices of redemption as a convenience to Holders; <U>provided</U>, that any such notice may state that no representation is made as to the correctness of such numbers either as printed on the Notes or as contained in any
notice of redemption and that reliance may be placed only on the other identification numbers printed on the Notes, and any such redemption shall not be affected by any defect in or omission of such numbers. The Issuers will as promptly as
practicable notify the Trustee in writing of any change in the CUSIP or ISIN numbers. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;2.14 <U>Issuance of PIK Interest</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Any PIK Interest on the Notes with respect to Notes represented by one or more Global Notes registered in the name of, or held by, the
Depositary or its nominee on the relevant Record Date, is payable by increasing the principal amount of the outstanding Global Note by an amount equal to the amount of PIK Interest for the applicable Interest Period (rounded up to the nearest whole
dollar) as provided in an Officers&#146; Certificate delivered to the Trustee at least three (3)&nbsp;Business Days prior to the first day of such Interest Payment Date. On the applicable Interest Payment Date, the Trustee shall record such increase
on the schedule to the Global Note and the Registrar shall record such increase in the Registrar&#146;s books and record. Following an increase in the principal amount of the outstanding Global Notes as a result of a PIK Payment, the Notes will bear
interest on such increased principal amount from and after the date of such PIK Payment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">54 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Any PIK Interest on the Notes with respect to Notes represented by certificated Notes is
payable by issuing PIK Notes in certificated form in an aggregate principal amount equal to the amount of PIK Interest for the applicable Interest Period (rounded up to the nearest whole dollar). The Trustee shall, upon receipt of an Authentication
Order pursuant to Section&nbsp;2.02 hereof, authenticate and deliver such PIK Notes in certificated form for original issuance to the Holders as of the relevant Record Date, as shown by the records of the register of Holders. Any PIK Notes issued in
certificated form will be dated as of the applicable Interest Payment Date and will bear interest from and after such date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 3 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">REDEMPTION </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.01
<U>Notices to Trustee</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuers elect to redeem Notes pursuant to Section&nbsp;3.07, they shall notify the Trustee in writing of
the Redemption Date and the principal amount of Notes to be redeemed and the clause&nbsp;of this Indenture pursuant to which redemption shall occur. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall give each notice provided for in this Section&nbsp;3.01 in an Officers&#146; Certificate at least 45&nbsp;days before the
Redemption Date (unless a shorter period shall be satisfactory to the Trustee). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.02 <U>Selection of Notes to Be Redeemed or
Purchased</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If less than all of the Notes are to be redeemed at any time, the Trustee shall select the Notes to be redeemed <U>pro
rata</U>, by lot or by such other method as the Trustee in its sole discretion shall deem fair and appropriate in accordance with the Applicable Procedures; <U>provided</U> that no Note of $2,000 in principal amount or less shall be redeemed in part
(or if a PIK Payment has been made, no Note of $1.00 in principal amount or less shall be redeemed in part). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall make the
selection from the Notes outstanding and not previously called for redemption. Notes in denominations of $2,000 (or if a PIK Payment has been made, $1.00) in principal amount may only be redeemed in whole. The Trustee may select for redemption
portions (equal to $2,000 in principal amount or any integral multiple of $1,000 in excess thereof) (or if a PIK Payment has been made, equal to $1.00 in principal amount or any integral multiple of $1.00 in excess thereof) of Notes that have
denominations larger than $2,000 (or if a PIK Payment has been made, $1.00) in principal amount. Provisions of this Indenture that apply to Notes called for redemption also apply to portions of Notes called for redemption. The Trustee shall notify
the Issuers and the Registrar promptly in writing of the Notes or portions of Notes to be called for redemption. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.03
<U>Notice of Redemption</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">With respect to any redemption of Notes pursuant to Section&nbsp;3.07, at least 30&nbsp;days but not more
than 60&nbsp;days before a Redemption Date, the Issuers shall send a notice of redemption by first class mail or by electronic mail in the case of Global Notes to each Holder whose Notes are to be redeemed. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">55 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The notice shall identify the Notes (including the CUSIP number) to be redeemed and shall state:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Redemption Date; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Redemption Price; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
the name and address of the Paying Agent; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) that Notes called for redemption must be surrendered to the Paying Agent in order to collect
the Redemption Price; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) that, unless the Issuers default in making the redemption payment, interest on Notes called for redemption
ceases to accrue on and after the Redemption Date and the only remaining right of the Holders is to receive payment of the Redemption Price plus accrued interest to the Redemption Date upon surrender of the Notes to the Paying Agent; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) that, if any Note is being redeemed in part, the portion of the principal amount (equal to $2,000 in principal amount or any integral
multiple of $1,000 in excess thereof) (or if a PIK Payment has been made, equal to $1.00 in principal amount or any integral multiple of $1.00 in excess thereof) of such Note to be redeemed and that, on and after the Redemption Date, upon surrender
of such Note, a new Note or Notes in principal amount equal to the unredeemed portion thereof will be reissued; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) that, if any Note
contains a CUSIP or ISIN number as provided in Section&nbsp;2.13, no representation is being made as to the correctness of the CUSIP or ISIN number either as printed on the Notes or as contained in the notice of redemption and that reliance may be
placed only on the other identification numbers printed on the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">At the Issuers&#146; request (which request may be revoked by the
Issuers at any time prior to the time at which the Trustee shall have given such notice to the Holders if such request is made at least 45 days prior to the Redemption Date), made in writing to the Trustee at least 45&nbsp;days (or such shorter
period as shall be satisfactory to the Trustee) before a Redemption Date, the Trustee shall give the notice of redemption in the name and at the expense of the Issuers. If, however, the Issuers give such notice to the Holders, the Issuers shall
concurrently deliver to the Trustee a copy of such notice and an Officers&#146; Certificate stating that such notice has been given. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any
notice of redemption may, at the discretion of the Issuers, be subject to one or more conditions precedent, including any sale of Equity Interests. If a redemption is subject to satisfaction of one or more conditions precedent, such notice of
redemption shall describe each such condition and, if applicable, shall state that, in the Issuers&#146; discretion, the Redemption Date may be delayed until such time as any or all such conditions shall be satisfied, or such redemption may not
occur and such notice may be rescinded in the event that any or all such conditions shall not have been satisfied by the Redemption Date, or by the Redemption Date as so delayed. In the event that any condition precedent included in a redemption
notice fails to be satisfied by the applicable Redemption Date, the Issuers may revoke such redemption notice or delay the applicable Redemption Date by delivering notice to the Trustee and each Holder whose Notes were called for redemption of such
revocation or delay and, in the case of a delay, of the new Redemption Date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">56 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.04 <U>Effect of Notice of Redemption</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the last paragraph&nbsp;of Section&nbsp;3.03, once notice of redemption is mailed, Notes called for redemption become due and
payable on the Redemption Date and at the Redemption Price. Upon surrender of any Notes to the Paying Agent, such Notes shall be paid at the Redemption Price, plus accrued interest, if any, to the Redemption Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notice of redemption shall be deemed to be given when mailed, whether or not the Holder receives the notice. In any event, failure to give
such notice, or any defect therein, shall not affect the validity of the proceedings for the redemption of Notes held by Holders to whom such notice was properly given. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.05 <U>Deposit of Redemption or Purchase Price</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On or prior to 11:00&nbsp;a.m., New York City time, on any Redemption Date, the Issuers shall deposit with the Paying Agent (or, if an Issuer
or a Subsidiary is acting as Paying Agent, it shall segregate and hold in trust as provided in Section&nbsp;2.04) money sufficient to pay the Redemption Price of and accrued interest (up to but not including the Redemption Date) on all Notes to be
redeemed on that date other than Notes or portions thereof called for redemption on that date that have been delivered by Wise Intermediate Holdings to the Trustee for cancellation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.06 <U>Notes Redeemed or Purchased in Part</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon surrender of any certificated Note that is redeemed in part, the Issuers shall execute and the Trustee shall authenticate and deliver to
the Holder without service charge, a new certificated Note equal in principal amount to the unredeemed portion of such surrendered certificated Note. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.07 <U>Optional Redemption</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) At any time prior to June&nbsp;15, 2016, the Notes may be redeemed, in whole or in part, on one or more occasions at the option of the
Issuers, at a Redemption Price equal to 100% of the principal amount thereof plus the Applicable Premium as of, and accrued and unpaid interest to, but not including, the Redemption Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Issuers may redeem the Notes at any time, and from time to time, on or after June&nbsp;15, 2016 and prior to maturity, upon not less
than 30 nor more than 60&nbsp;days&#146; prior notice mailed by <FONT STYLE="white-space:nowrap">first-class</FONT> mail to each Holder&#146;s last address, as it appears in the Note Register, or sent electronically to the Depositary for Global
Notes at the following Redemption Prices (expressed in percentages of principal amount), plus accrued and unpaid interest to, but not including, the Redemption Date (subject to the right of Holders of record on the relevant Record Date that is prior
to the Redemption Date to receive interest due on an Interest Payment Date), if redeemed during the 12-month period beginning on the dates set forth below: </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">57 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="86%"></TD>
<TD VALIGN="bottom" WIDTH="7%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:16.00pt; font-size:8pt; font-family:Times New Roman"><B>Date</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Redemption<BR>Price</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2016</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">104.875</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2017</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">102.438</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">June&nbsp;15, 2018 and thereafter</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">100.000</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) In addition, at any time prior to June&nbsp;15, 2016, the Issuers may redeem on one or more occasions up
to 35% of the aggregate principal amount of the Notes originally issued under this Indenture (calculated after giving effect to the issuance of any Additional Notes and any PIK Notes) with the Net Cash Proceeds of one or more sales of Equity
Interests (other than Disqualified Stock) of Wise Intermediate Holdings or a contribution to the Issuer&#146;s equity capital made with Net Cash Proceeds of a concurrent equity offering by Wise Intermediate Holdings&#146; direct or indirect parent,
at a redemption price of 109.75% of their principal amount, plus accrued interest to, but not including, the Redemption Date; <U>provided</U> that at least 65% of the aggregate principal amount of Notes originally issued under this Indenture
(calculated after giving effect to the issuance of any Additional Notes and any PIK Notes) remains outstanding after each such redemption and notice of any such redemption is mailed within 90&nbsp;days of each such sale of Equity Interests. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) In addition to the Issuers&#146; rights to redeem the Notes as set forth above, the Issuers may purchase Notes in open-market transactions,
tender offers or otherwise. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;3.08 <U>Mandatory Redemption</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers will not be required to make any mandatory redemption or sinking fund payments with respect to the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the last paragraph&nbsp;of Section&nbsp;3.03, if notice of redemption has been given in the manner provided above, the Notes or
portion of Notes specified in such notice to be redeemed shall become due and payable on the Redemption Date at the Redemption Price stated therein, together with accrued interest to such Redemption Date, and on and after such date (unless the
Issuers shall default in the payment of such Notes at the Redemption Price and accrued interest to the Redemption Date, in which case the principal, until paid, shall bear interest from the Redemption Date at the rate prescribed in the Notes), such
Notes shall cease to accrue interest. Upon surrender of any Note for redemption in accordance with a notice of redemption, such Note shall be paid and redeemed by the Issuers at the Redemption Price, together with accrued interest, if any, to the
Redemption Date. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 4 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">COVENANTS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.01
<U>Payment of Principal, Premium and Interest</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay the principal of, premium, if any, and interest on the Notes on
the dates and in the manner provided in the Notes and this Indenture. An installment of principal, premium, if any, or Cash Interest shall be considered paid on the date due if the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">58 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Trustee or Paying Agent (other than the Issuers or a Subsidiary of Wise Intermediate Holdings) holds on that date money designated for and sufficient to pay the installment. PIK Interest shall be
considered paid (i)&nbsp;with respect to Notes represented by one or more Global Notes, on the date due if the Issuers shall have delivered to the Trustee an Officers&#146; Certificate in accordance with Section&nbsp;2.14 hereof with respect to the
relevant Interest Period or (ii)&nbsp;with respect to Notes represented by certificated Notes, on the date due if, on or prior to such date, PIK Notes duly executed by the Issuers together with an Authentication Order of the Issuers requesting the
authentication of such PIK Notes are delivered to the Trustee. If Wise Intermediate Holdings or any Subsidiary of Wise Intermediate Holdings acts as Paying Agent, an installment of principal, premium, if any, or interest shall be considered paid on
the due date if the entity acting as Paying Agent complies with Section&nbsp;2.04. As provided in Section&nbsp;6.12, upon any bankruptcy or reorganization procedure relative to the Issuers, the Trustee shall serve as the Paying Agent, if any, for
the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay interest on overdue principal and premium, if any, and interest on overdue installments of interest, to
the extent lawful, at the rate per annum specified in the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.02 <U>Corporate Existence</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Article&nbsp;5 of this Indenture, Wise Intermediate Holdings shall do or cause to be done all things necessary to preserve and keep
in full force and effect its existence and the existence of each of its Restricted Subsidiaries in accordance with the respective organizational documents of Wise Intermediate Holdings and each Restricted Subsidiary and the rights (whether pursuant
to charter, partnership certificate, agreement, statute or otherwise), licenses and franchises of Wise Intermediate Holdings and each Restricted Subsidiary; <U>provided</U> that Wise Intermediate Holdings shall not be required to preserve any such
right, license or franchise, or the existence of any Restricted Subsidiary (other than FinCo), if the maintenance or preservation thereof is no longer desirable or necessary in the conduct of the business of Wise Intermediate Holdings and its
Restricted Subsidiaries taken as a whole. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.03 <U>Limitation on Indebtedness</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Wise Intermediate Holdings will not, and will not permit any Restricted Subsidiary to, create, incur, assume or Guarantee the payment of
any Indebtedness (including Acquired Indebtedness) other than Permitted Indebtedness and Wise Intermediate Holdings will not issue any Disqualified Stock and will not permit any of its Restricted Subsidiaries to issue any Disqualified Stock or
preferred stock to any Person other than to Wise Intermediate Holdings or its Restricted Subsidiaries unless, after giving effect to the transaction, (i)&nbsp;with respect to Indebtedness incurred, or Disqualified Stock issued, by Wise Intermediate
Holdings or any Restricted Subsidiary (other than Opco or any Opco Restricted Subsidiary) and any preferred stock issued by any Restricted Subsidiary (other than FinCo, Opco or any Opco Restricted Subsidiary), Wise Intermediate Holdings&#146; Fixed
Charge Coverage Ratio for the four full fiscal quarters immediately preceding the transaction for which financial statements are available immediately preceding the date of such transaction, taken as a single period, is 2.0 to 1.0 or greater,
determined on a <U>pro</U> <U>form</U>a basis (including a <U>pro</U> <U>forma</U> application of the net proceeds therefrom) as if the additional Indebtedness had been incurred or the Disqualified Stock (or the
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">59 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
preferred stock, if applicable) had been issued, as the case may be, at the beginning of such four-quarter period and (ii)&nbsp;with respect to Indebtedness incurred, or Disqualified Stock
issued, by Opco or any Opco Restricted Subsidiary and any preferred stock issued by any Opco Restricted Subsidiary, Opco&#146;s Fixed Charge Coverage Ratio for the four full fiscal quarters immediately preceding the transaction for which financial
statements are available immediately preceding the date of such transaction, taken as a single period, is 2.0 to 1.0 or greater, determined on a pro forma basis (including a pro forma application of the net proceeds therefrom) as if the additional
Indebtedness had been incurred or the Disqualified Stock (or the preferred stock, if applicable) had been issued, as the case may be, at the beginning of such <FONT STYLE="white-space:nowrap">four-quarter</FONT> period. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of determining any particular amount of Indebtedness under this Section&nbsp;4.03, (x)&nbsp;obligations which constitute
Indebtedness of more than one entity only need to be counted once, and (y)&nbsp;Guarantees, Liens or obligations with respect to letters of credit supporting Indebtedness otherwise included in the determination of such particular amount shall not be
included. For purposes of determining compliance with this Section&nbsp;4.03, if an item of Indebtedness meets the criteria of more than one of the categories of Permitted Indebtedness or may be incurred under the Fixed Charge Coverage Ratio, Wise
Intermediate Holdings may classify (and from time to time may reclassify, including pursuant to the Fixed Charge Coverage Ratio) the Indebtedness in its sole discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The accrual of interest or preferred stock dividends, the accretion or amortization of original issue discount, the payment of interest on any
Indebtedness in the form of additional Indebtedness with the same terms, the reclassification of preferred stock as Indebtedness due to a change in accounting principles and the payment of dividends on preferred stock or Disqualified Stock in the
form of additional shares of the same class of preferred stock or Disqualified Stock will not be deemed to be an incurrence of Indebtedness or an issuance of preferred stock or Disqualified Stock for purposes of this covenant; <U>provided</U>, in
each such case, that the amount thereof is included in Fixed Charges of Wise Intermediate Holdings or Opco, as the case may be, as applicable. For purposes of determining compliance with any U.S. dollar-denominated restriction on the incurrence of
Indebtedness, the U.S. dollar-equivalent principal amount of Indebtedness denominated in a foreign currency shall be utilized, calculated based on the relevant currency exchange rate in effect on the date such Indebtedness was incurred. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Notwithstanding any other provision of this Section&nbsp;4.03, (i)&nbsp;the maximum amount of Indebtedness that may be incurred pursuant to
this Section&nbsp;4.03 will not be deemed to be exceeded, with respect to any outstanding Indebtedness, due solely to the result of fluctuations in the exchange rates of currencies between the dates such non-U.S. dollar Indebtedness was incurred and
the measurement date for purposes of this provision and (ii)&nbsp;a change in GAAP that results in an obligation of Wise Intermediate Holdings or any Restricted Subsidiary that exists at the time of such change, and is not theretofore classified as
Indebtedness, becoming Indebtedness shall not be deemed an incurrence of such Indebtedness. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The amount of any Indebtedness outstanding
as of any date will be: (i)&nbsp;the accreted value of the Indebtedness, in the case of any Indebtedness issued with original issue discount; and (ii)&nbsp;the principal amount of the Indebtedness, in the case of any other Indebtedness. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">60 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Issuers and the Guarantors (if any) will not incur any Indebtedness if such Indebtedness
is subordinate in right of payment to any other Indebtedness unless such Indebtedness is also subordinate in right of payment to the Notes or the applicable Subsidiary Guarantee (if any) to the same extent. For purposes of the foregoing, no
Indebtedness will be deemed to be subordinated in right of payment to any other Indebtedness solely by virtue of being unsecured, by virtue of being secured by different collateral or by virtue of the fact that the holders of any secured
Indebtedness have entered into intercreditor agreements giving one or more of such holders priority over the other holders in the collateral held by them or with respect to control of remedies. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.04 <U>Limitation on Restricted Payments</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Wise Intermediate Holdings will not, and will not permit any Restricted Subsidiary, directly or indirectly, to make any Restricted Payment
unless, at the time and after giving effect to the proposed Restricted Payment, the following conditions are met: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) no
Default or Event of Default under this Indenture shall have occurred and be continuing (or would result therefrom); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii)
at the time and after giving effect to any proposed Restricted Payment, (x)&nbsp;in the case of a Restricted Payment by Wise Intermediate Holdings or any of its Restricted Subsidiaries (other than Opco or any Opco Restricted Subsidiary), Wise
Intermediate Holdings would be able to incur at least $1.00 of Indebtedness under the Fixed Charge Coverage Ratio described under Section&nbsp;4.03(a)(i) or (y)&nbsp;in the case of a Restricted Payment by Opco or any Opco Restricted Subsidiary, Opco
would be able to incur at least $1.00 of Indebtedness under the Fixed Charge Coverage Ratio described under Section&nbsp;4.03(a)(ii); and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) such payment, along with the aggregate amount of all Restricted Payments declared or made on or after December&nbsp;11,
2013 (excluding any Restricted Payment that is an Excluded Payment permitted by clauses (ii), (iii), (iv), (vi), (vii), (viii), (x), (xi), (xii), (xiii), (xiv), (xv)&nbsp;and (xvi)&nbsp;of the next succeeding paragraph), may not exceed the sum of:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) 50% of Wise Intermediate Holdings&#146; total Consolidated Net Income accrued on a cumulative basis during the period
beginning on October&nbsp;1, 2013 (with the Consolidated Net Income of Opco substituting for the Consolidated Net Income of Wise Intermediate Holdings for the period from October&nbsp;1, 2013 to the Closing Date) and ending on the last day of its
fiscal quarter ending prior to the date of the proposed Restricted Payment for which internal financial statements of Wise Intermediate Holdings are available (or, if such aggregate cumulative Consolidated Net Income is a loss, minus 100% of such
loss); plus </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">61 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) 100% of (A)&nbsp;the aggregate Net Cash Proceeds and Fair Market Value of
marketable securities received by Wise Intermediate Holdings on or after the Closing Date (i)&nbsp;as capital contributions or (ii)&nbsp;from the issuance and sale of (x)&nbsp;Equity Interests of Wise Intermediate Holdings to any Person or entity
other than a Subsidiary of Wise Intermediate Holdings, excluding the issuance or sale of Disqualified Stock or (y)&nbsp;any other securities of Wise Intermediate Holdings, upon the conversion or exchange of such securities into Equity Interests of
Wise Intermediate Holdings (including upon conversion of Indebtedness or upon conversion or exercise of options or warrants), other than Disqualified Stock, and (B)&nbsp;the Fair Market Value of any Replacement Assets to the extent acquired on or
after the Closing Date in consideration of the issuance of Equity Interests of Wise Intermediate Holdings, other than Disqualified Stock, or as a capital contribution to Wise Intermediate Holdings; plus </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(C) to the extent that any Restricted Investment that was made after the Closing Date is sold for cash or repaid (whether
through interest payments, principal payments, dividends or other distributions), the lesser of (i)&nbsp;the amount received in cash from such sale or repayment (less the cost of disposition, if any) and (ii)&nbsp;the initial amount of such
Restricted Investment; plus </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(D) to the extent that any Restricted Investment was made in an Unrestricted Subsidiary or
other entity after the Closing Date and such Unrestricted Subsidiary or other entity is redesignated as or becomes a Restricted Subsidiary, the lesser of (i)&nbsp;the Fair Market Value of the Investment in such Subsidiary on the date of such
redesignation and (ii)&nbsp;the initial amount of such Restricted Investment. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The provisions of Section&nbsp;4.04(a)&nbsp;shall not
prohibit the following (the &#147;<U>Excluded Payments</U>&#148;): </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) the payment of any dividend or redemption of any
contractually subordinated Indebtedness within 60&nbsp;days after such dividend was declared or irrevocable and unconditional notice of such redemption was given, if at the date of such declaration or notice, the payment or redemption would have
been permitted; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) the making of any Investment or the redemption, repurchase, retirement, defeasance or other
acquisition of any Equity Interests of Wise Intermediate Holdings (or Indebtedness that is subordinated to the Notes or any Subsidiary Guarantee) in exchange for, or out of or with the proceeds of the sale (other than to a Subsidiary of Wise
Intermediate Holdings) of, any Equity Interests of Wise Intermediate Holdings (other than any Disqualified Stock) or in exchange for, or out of or with the proceeds of a capital contribution to Wise Intermediate Holdings; <U>provided</U> that, in
each such case, the amount of any such proceeds that are so utilized shall be excluded from Section&nbsp;4.04(a)(iii)(B); </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">62 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) the redemption, repurchase, defeasance or other acquisition or retirement
for value of Indebtedness of Wise Intermediate Holdings or a Restricted Subsidiary that is subordinated to the Notes or any Subsidiary Guarantee, including premium, if any, and accrued interest, with the proceeds of, or in exchange for, Indebtedness
incurred under clause&nbsp;(5) of the definition of &#147;Permitted Indebtedness;&#148; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) the payment of any dividend
(or, in the case of any partnership or limited liability company, any similar distribution) by a Restricted Subsidiary of Wise Intermediate Holdings to the holders of its common Equity Interests to the extent such payments are made on a <U>pro
rata</U> basis; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) the repurchase, redemption or other acquisition or retirement for value of any Equity Interests of
Wise Intermediate Holdings held by any current or former director, officer, employee, consultant or agent of Wise Intermediate Holdings (or any of its Subsidiaries) pursuant to any management equity subscription agreement, stock option agreement or
other employee benefit plan or arrangement; <U>provided</U> that the aggregate price paid for all such repurchased, redeemed, acquired or retired Equity Interests shall not exceed $5.0&nbsp;million in any calendar year (with unused amounts in any
calendar year being carried over to the next calendar year); <U>provided</U> <U>further</U> that such amount in any calendar year may be increased by an amount not to exceed: (1)&nbsp;the cash proceeds from the sale of Equity Interests (other than
Disqualified Stock) of Wise Intermediate Holdings to directors, officers, employees, consultants or agents of Wise Intermediate Holdings or any of its Subsidiaries that occurs after the Closing Date, to the extent the cash proceeds from the sale of
such Equity Interests have not otherwise been applied to the payment of Restricted Payments by virtue of Section&nbsp;4.04(a)(iii); plus (2)&nbsp;the cash proceeds of key man life insurance policies received by Wise Intermediate Holdings and the
Restricted Subsidiaries after the Closing Date; and less (3)&nbsp;the amount of any Restricted Payments previously made pursuant to clauses (1)&nbsp;and (2)&nbsp;of this clause&nbsp;(v); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vi) the purchase of Equity Interests of Wise Intermediate Holdings deemed to occur upon the exercise of stock options or
warrants if such Equity Interests represent all or a portion of the exercise price of (or taxes in respect of the exercise of) such options or warrants and payments made or expected to be made by Wise Intermediate Holdings or any Restricted
Subsidiary in respect of withholding or similar taxes payable or expected to be payable upon the exercise of stock options or vesting of Equity Interests by or in any current or former director, officer, employee, consultant or agent of Wise
Intermediate Holdings, any of its Restricted Subsidiaries, or any direct or indirect parent of Wise Intermediate Holdings (or their respective estates or immediate family members); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(vii) distributions or payments of Securitization Fees and purchases of Receivables and Related Assets pursuant to a
Securitization Repurchase Obligation in connection with a Qualified Securitization Transaction; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(viii) a Restricted
Subsidiary of Wise Intermediate Holdings purchasing, redeeming or retiring for value Equity Interests of such Restricted Subsidiary from a Person other than an Affiliate of Wise Intermediate Holdings; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">63 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ix) so long as no Default or Event of Default shall have occurred and be
continuing (or would result therefrom), any Restricted Payment which, together with all other Restricted Payments made pursuant to this clause&nbsp;(ix) on or after the Closing Date, does not exceed $7.5 million; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(x) cash payments, dividends, distributions, advances or other Restricted Payments by Wise Intermediate Holdings or any
Restricted Subsidiary to allow the payment of cash in lieu of the issuance of fractional shares of capital stock of any such Person in connection with any transaction not otherwise prohibited by this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xi) Permitted Tax Distributions; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xii) the repurchase, redemption or other acquisition or retirement for value of any Indebtedness of Wise Intermediate Holdings
or any Restricted Subsidiary that is subordinated to the Notes or any Subsidiary Guarantee pursuant to provisions similar to Section&nbsp;4.07 or Section&nbsp;4.09; <U>provided</U> that all Notes tendered by Holders in connection with an applicable
Offer to Purchase have been repurchased, redeemed or acquired for value; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xiii) the declaration and payment of dividends
on Wise Intermediate Holdings&#146; Equity Interests (or a Restricted Payment to any direct or indirect parent entity to fund a payment of dividends on such entity&#146;s Equity Interests), following the first public equity offering of such common
stock after the Closing Date, of up to 6%&nbsp;per annum of Net Cash Proceeds received by (or, in the case of a Restricted Payment to a direct or indirect parent entity, contributed to the capital of) Wise Intermediate Holdings in or from any such
public equity offering; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xiv) so long as no Default or Event of Default has occurred and is continuing, the declaration
and payment of regularly scheduled or accrued dividends to holders of any class or series of Disqualified Stock of Wise Intermediate Holdings or any preferred stock of any Restricted Subsidiary of Wise Intermediate Holdings issued on or after the
Closing Date in accordance with Section&nbsp;4.03; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xv) the distribution by dividend or otherwise, or other transfer or
disposition of Equity Interests of Unrestricted Subsidiaries (other than Unrestricted Subsidiaries, the primary assets of which are cash and/or Temporary Cash Investments); or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(xvi) Restricted Payments made in connection with the Transactions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The amount of all Restricted Payments (other than cash) will be the Fair Market Value on the date of the Restricted Payment of the asset(s) or
securities proposed to be transferred or issued by Wise Intermediate Holdings or Restricted Subsidiary, as the case may be. If a Restricted Payment is not made in cash, its value, if in excess of $20.0 million, must be determined by Wise
Intermediate Holdings&#146; Board of Directors as evidenced by a resolution of the Board of Directors of Wise Intermediate Holdings, which determination shall be conclusive. For purposes of determining compliance with this Section&nbsp;4.04, in the
event that a Restricted </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">64 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Payment meets the criteria of more than one of the categories of Restricted Payments described in clauses (i)&nbsp;through (xvi)&nbsp;of Section&nbsp;4.04(b), or is entitled to be made pursuant
to Section&nbsp;4.04(a), Wise Intermediate Holdings will be permitted to classify such Restricted Payment on the date it is made, or later reclassify all or a portion of such Restricted Payment, in any manner that complies with this covenant. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.05 <U>Limitation on Transactions with Affiliates of Wise Intermediate Holdings</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wise Intermediate Holdings will not, and will not permit any Restricted Subsidiary to, directly or indirectly enter into any transaction or
series of related transactions (including, without limitation, the sale, purchase, exchange or lease of assets, property or services) with any Affiliate of Wise Intermediate Holdings unless the following conditions are met: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the transaction or series of transactions must be on terms which are not materially less favorable to Wise Intermediate Holdings or the
Restricted Subsidiary, taken as a whole, as would be available in a comparable transaction with an unrelated third party; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) if the
transaction or series of transactions involves: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) aggregate payments of $10.0 million or more, then the transaction or
series of transactions must be approved by Wise Intermediate Holdings&#146; Board of Directors, including the approval of a majority of directors who are disinterested in the transaction or transactions being approved, or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) aggregate payments of $20.0 million or more, then Wise Intermediate Holdings or such Restricted Subsidiary must receive an
opinion issued by an independent accounting, appraisal or investment banking firm of national standing stating that such transaction or series of transactions is fair to Wise Intermediate Holdings or such Restricted Subsidiary from a financial point
of view. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">However, this provision does not apply to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) any employment, compensation or severance arrangement or transactions relating to benefit plans or similar arrangements
with any employee, contractor, consultant, director or officer of Wise Intermediate Holdings or any Restricted Subsidiary approved by Wise Intermediate Holdings&#146; Board of Directors; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) payment of reasonable and customary fees, benefits and reimbursements of expenses (pursuant to indemnity arrangements or
otherwise) of officers, directors, employees, contractors or consultants of Wise Intermediate Holdings or any Restricted Subsidiary; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) loans and advances (or cancellations of loans or advances) to employees, consultants, directors and officers of Wise
Intermediate Holdings or any Subsidiary in the ordinary course of business for bona fide business purposes of Wise Intermediate Holdings and its Restricted Subsidiaries otherwise permitted pursuant to the terms of the Notes and applicable law; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">65 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) Restricted Payments that are permitted by Section&nbsp;4.04 or Permitted
Investments; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) issuances of Equity Interests (other than Disqualified Stock) of Wise Intermediate Holdings; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) any transaction between or among Wise Intermediate Holdings and one or more Restricted Subsidiaries of Wise Intermediate
Holdings or among one or more Restricted Subsidiaries of Wise Intermediate Holdings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) any transaction with any Person
solely in its capacity as a holder of Indebtedness or Equity Interests of Wise Intermediate Holdings or any of its Restricted Subsidiaries, if such person is treated no more favorably than any other holder of Indebtedness or Equity Interest of Wise
Intermediate Holdings; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) any agreement as in effect on the Closing Date or any amendment thereto or renewal or
modification thereof, so long as the amendment, renewal or modification, taken as a whole, is not materially more disadvantageous to Wise Intermediate Holdings and the Restricted Subsidiaries or the Holders than the agreement existing on the Closing
Date (as determined in good faith by Wise Intermediate Holdings); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) transactions with (i)&nbsp;customers, clients,
suppliers, joint ventures, joint venture partners, partnerships, partners, or purchasers or sellers of goods or services that so long as the terms of any such transactions meet the requirements of clause&nbsp;(a)&nbsp;of the first paragraph&nbsp;of
this covenant (as determined by Wise Intermediate Holdings in good faith) and (ii)&nbsp;joint ventures, joint venture partners, partnerships or partners so long as the terms of any such transactions, taken as a whole, are not materially less
favorable to Wise Intermediate Holdings or its Restricted Subsidiary participating in such joint venture or partnership than they are to other comparable joint venture participants or partners (as determined by Wise Intermediate Holdings in good
faith); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) transactions in which Wise Intermediate Holdings or any of its Restricted Subsidiaries, as the case may be,
delivers to the Trustee a letter from an accounting, appraisal or investment banking firm of national standing stating that such transaction is fair to Wise Intermediate Holdings or the relevant Restricted Subsidiary from a financial point of view
or stating that the terms are not materially less favorable to Wise Intermediate Holdings or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by Wise Intermediate Holdings or such Restricted
Subsidiary with an unrelated Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) transactions with a Person (other than an Unrestricted Subsidiary of Wise
Intermediate Holdings) that is an Affiliate of Wise Intermediate Holdings solely because Wise Intermediate Holdings owns, directly or through a Restricted Subsidiary, an Equity Interest in, or controls, such Person; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">66 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) transactions between Wise Intermediate Holdings or a Restricted Subsidiary
and Wise Recycling, LLC or any of its Subsidiaries; <U>provided</U> that such transaction is in the ordinary course of business and consistent with past practice and Wise Intermediate Holdings&#146; Board of Directors determines that the terms of
any such transaction are not materially less favorable to Wise Intermediate Holdings or the relevant Restricted Subsidiary than those that would have been obtained in a comparable transaction by Wise Intermediate Holdings or such Restricted
Subsidiary with an unrelated Person; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) any Qualified Securitization Transaction; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(14) pledges of Equity Interests of Unrestricted Subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.06 <U>Limitation on Liens.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Wise Intermediate Holdings will not, and will not permit any Restricted Subsidiary to, create, assume, incur or permit any Lien of any kind
securing obligations under any Indebtedness, on or with respect to any of its assets or properties other than Permitted Liens, unless in each case: (i)&nbsp;in the case of Liens securing Subordinated Indebtedness, the Notes are secured by a Lien on
such property that is senior in priority to such Liens; or (ii)&nbsp;in all other cases, the Notes are equally and ratably secured. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)
Any Lien created for the benefit of Holders pursuant to this Section&nbsp;4.06 will be deemed automatically and unconditionally released and discharged upon the release and discharge of each of the Liens triggering the obligation to secure the
Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.07 <U>Limitation on Asset Sales</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Wise Intermediate Holdings will not, and will not permit any Restricted Subsidiary to, consummate any Asset Sale, unless (i)&nbsp;the
consideration received by Wise Intermediate Holdings or such Restricted Subsidiary is at least equal to the Fair Market Value of the assets sold or disposed of, (ii)&nbsp;at least 75% of the consideration received consists of (A)&nbsp;cash or
Temporary Cash Investments, (B)&nbsp;the assumption or discharge of unsubordinated Indebtedness of Wise Intermediate Holdings or any Restricted Subsidiary or other liabilities of Wise Intermediate Holdings or a Restricted Subsidiary (in each case,
other than Indebtedness or other liabilities owed to Wise Intermediate Holdings or any Affiliate of Wise Intermediate Holdings), <U>provided</U> that Wise Intermediate Holdings or such Restricted Subsidiary is irrevocably and unconditionally
released or discharged from all liability under such Indebtedness or other liabilities, (C)&nbsp;Replacement Assets, or (D)&nbsp;Designated Non-cash Consideration received by Wise Intermediate Holdings or any of its Restricted Subsidiaries in such
Asset Sale having an aggregate Fair Market Value, taken together with all other Designated Non-cash Consideration received since the Closing Date pursuant to this clause&nbsp;(D)&nbsp;not to exceed $15.0 million (with the Fair Market Value of each
item of Designated Non-cash Consideration being measured at the time received and without giving effect to subsequent changes in value), plus net reductions in any such Designated Non-cash Consideration as a result of sales, repayments, dispositions
or other amortizations for cash, in an amount not to exceed the lesser of (x)&nbsp;the amount of cash received, less the cost of disposition, and (y)&nbsp;the Fair Market Value of such Designated Non-cash Consideration at the time received. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">67 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this provision, any securities, notes or other obligations received by Wise
Intermediate Holdings or any such Restricted Subsidiary that are converted by Wise Intermediate Holdings or such Restricted Subsidiary into cash within 180&nbsp;days after receipt (to the extent of the cash received in such conversion) shall be
deemed to be cash. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Within 12&nbsp;months after Wise Intermediate Holdings&#146; or any Restricted Subsidiary&#146;s receipt of the Net
Cash Proceeds of any Asset Sale, Wise Intermediate Holdings or such Restricted Subsidiary, at its option, may apply the Net Cash Proceeds from such Asset Sale: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) to permanently repay (x)&nbsp;Senior Indebtedness of the Issuers (other than Indebtedness owed to Wise Intermediate
Holdings or any of its Restricted Subsidiaries) and, in the case of Indebtedness under the Credit Agreement or any other Credit Facility, to correspondingly reduce commitments with respect thereto or (y)&nbsp;Indebtedness of a Restricted Subsidiary
(other than FinCo) and, in the case of Indebtedness under the Credit Agreement or any other Credit Facility, to correspondingly reduce commitments with respect thereto; <I>provided</I> that if Wise Intermediate Holdings or such Restricted Subsidiary
shall so reduce obligations under any Senior Indebtedness that is not secured by a Lien permitted under this Indenture, the Issuers will, equally and ratably, reduce the obligations under the Notes by, at their option, (A)&nbsp;redeeming the Notes,
(B)&nbsp;making an offer (in accordance with the procedures set forth below for an Offer to Purchase to all Holders to purchase their notes at a purchase price equal to 100% of the principal amount thereof; <I>plus</I> the amount of any accrued and
unpaid interest on the principal amount of the Notes to be repurchased or (C)&nbsp;purchasing Notes through open market purchases (to the extent such purchases are at a price equal to or higher than the 100% of the principal amount thereof) in a
manner that complies with this Indenture and applicable securities law; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) to acquire (or enter into a legally binding
agreement to acquire) all or substantially all of the assets of a Permitted Business, or Equity Interests of (x)&nbsp;a Restricted Subsidiary from a Person other than Wise Intermediate Holdings or a Restricted Subsidiary or (y)&nbsp;a Person engaged
in such a business in an amount that will cause such Person to become a Restricted Subsidiary; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) to make a capital
expenditure (or enter into a legally binding agreement to make such a capital expenditure); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iv) to invest the Net Cash
Proceeds (or enter into a legally binding agreement to invest) in Replacement Assets; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(v) to do any combination of the
foregoing; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>provided</U> that Wise Intermediate Holdings and its Restricted Subsidiaries will be deemed to have complied with the provisions described
in clauses (ii), (iii)&nbsp;and (iv)&nbsp;above, if and to the extent that, within 12&nbsp;months after the receipt of such Net Cash Proceeds, Wise Intermediate Holdings (or one or more of its Restricted Subsidiaries) has entered into and not
abandoned or rejected a binding agreement to apply such Net Cash Proceeds in accordance with the provisions described in clauses (ii), (iii)&nbsp;and (iv)&nbsp;above, and such application is thereafter completed within 180&nbsp;days after the end of
such <FONT STYLE="white-space:nowrap">12-month</FONT> period. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">68 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The amount of such excess Net Cash Proceeds required to be applied (or to be committed to be
applied) during such 12-month period as set forth in the preceding paragraph&nbsp;and not applied as so required by the end of such period, shall constitute &#147;<U>Excess Proceeds</U>.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">When the aggregate amount of Excess Proceeds exceeds $20.0 million, within thirty&nbsp;days thereof, or earlier at the option of the Issuers,
the Issuers will make an Offer to Purchase to all Holders and to all holders of other Indebtedness that is <U>pari passu</U> in right of payment with the Notes (&#147;<U>Pari Passu Indebtedness</U>&#148;) containing provisions similar to those set
forth in this Indenture with respect to asset sales, in each case, in respect of the maximum principal amount, on a <U>pro rata</U> basis, of the Notes and such Pari Passu Indebtedness that may be repurchased by such Excess Proceeds. The offer price
in any Offer to Purchase will be equal to 100% of the principal amount of the Notes (and 100% of the principal amount or, if different, the accreted value of any such Pari Passu Indebtedness (if any)) plus accrued and unpaid interest to the date of
purchase, and will be payable in cash. If any Excess Proceeds remain after consummation of an Offer to Purchase, the Issuers may use those Excess Proceeds for any purpose not otherwise prohibited by this Indenture and such remaining amount shall not
be added to any subsequent Excess Proceeds for any purpose under this Indenture. If the aggregate principal amount of the Notes and principal amount or, if different, accreted value of Notes and such Pari Passu Indebtedness, if any, tendered into
such Offer to Purchase exceeds the amount of Excess Proceeds, the Trustee will select the Notes and the Issuers shall select such Pari Passu Indebtedness, if any, as the case may be, to be purchased on a <U>pro rata</U> basis, by lot or such other
method as the Trustee deems fair and appropriate only with respect to the Notes in accordance with the Applicable Procedures (with, in each case, such adjustments as may be deemed appropriate by the Issuers or the Trustee, as applicable, so that
only Notes in minimum denominations of $2,000, or an integral multiple of $1,000 in excess thereof (or if a PIK Payment has been made, in minimum denominations of $1.00 and any integral multiple of $1.00 in excess thereof), will be purchased;
<I>provided </I>that any unpurchased portion of a Note must be in a minimum denomination of $2,000, or an integral multiple of $1,000 in excess thereof (or if a PIK Payment has been made, in minimum denominations of $1.00 and any integral multiple
of $1.00 in excess thereof)). Upon completion of each Offer to Purchase, the amount of Excess Proceeds will be reset at zero. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Pending the
final application of any such Net Cash Proceeds, the Issuers or any of the Restricted Subsidiaries may temporarily reduce revolving credit borrowings or otherwise invest such Net Cash Proceeds in any manner that is not prohibited by the terms of
this Indenture. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Notwithstanding the foregoing, the Issuers shall not be required to apply in accordance with this Section&nbsp;4.07
any Excess Proceeds received in respect of any Asset Sale by Opco or any Opco Restricted Subsidiary until such time as such entities are permitted in accordance with the terms of their Indebtedness to dividend or distribute an amount at least equal
to such Excess Proceeds to Wise Intermediate Holdings. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">69 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Issuers will comply with Rule&nbsp;14e-1 under the Exchange Act, to the extent
applicable, and any other applicable tender offer rules, securities laws or regulations in connection with an Offer to Purchase. To the extent that the provisions of any securities laws or regulations conflict with this Section&nbsp;4.07, the
Issuers will comply with the applicable securities laws and regulations and will not be deemed to have breached their obligations under this Section&nbsp;4.07 by virtue of such conflict. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.08 <U>Future Guarantees</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Notes will not be Guaranteed by any of the Issuers&#146; Subsidiaries on the Closing Date. After the Closing Date, Wise Intermediate
Holdings will cause each Restricted Subsidiary (other than FinCo) that Guarantees any Indebtedness of either Issuer (&#147;<U>Guaranteed Indebtedness</U>&#148;) within ten&nbsp;business&nbsp;days of the date on which such Restricted Subsidiary
Guarantees such Guaranteed Indebtedness to execute and deliver a supplemental indenture in the form of Exhibit B pursuant to which such Restricted Subsidiary will unconditionally Guarantee, on a joint and several basis, the full and prompt payment
of the principal of, premium, if any, and interest on the Notes and all other obligations under this Indenture on the terms and conditions as set forth in this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Guaranteed Indebtedness is (i)&nbsp;<U>pari passu</U> in right of payment with the Notes, then the Guarantee of such Guaranteed
Indebtedness shall be <U>pari passu</U> in right of payment with, or subordinated to, the Subsidiary Guarantee or (ii)&nbsp;subordinated in right of payment to the Notes, then the Guarantee of such Guaranteed Indebtedness shall be subordinated in
right of payment to the Subsidiary Guarantee at least to the extent that the Guaranteed Indebtedness is subordinated to the Notes. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.09 <U>Purchase of Notes upon a Change of Control</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Issuers must commence, unless the Issuers have previously given an unconditional and irrevocable notice of redemption with respect to
all of the outstanding Notes in accordance with Section&nbsp;3.03 within 30&nbsp;days of the occurrence of a Change of Control, and consummate an Offer to Purchase for all Notes then outstanding, at a purchase price equal to 101% of their principal
amount (the &#147;<U>Change of Control Purchase Price</U>&#148;), plus accrued interest (if any) to, but not including, the Payment Date. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Upon request, subject to applicable escheat laws, the Trustee and the Paying Agent shall return to the Issuers any cash that remains
unclaimed, together with interest or dividends, if any, thereon, held by them for the payment of the Change of Control Purchase Price; <U>provided</U>, <U>however</U>, that (x)&nbsp;to the extent that the aggregate amount of cash deposited by the
Issuers exceeds the aggregate Change of Control Purchase Price of the Notes or portions thereof to be purchased, the Trustee shall hold such excess for the Issuers and (y)&nbsp;promptly after the Business Day following the Payment Date the Trustee
shall return any such excess to the Issuers together with interest, if any, thereon. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Issuers shall comply, to the extent
applicable, with the applicable tender offer rules, including Rule&nbsp;14e-1 under the Exchange Act, and any other applicable securities laws or regulations in connection with an Offer to Purchase. To the extent that the provisions of any
securities laws or regulations conflict with this Section&nbsp;4.09, the Issuers will comply with the applicable securities laws and regulations and will not be deemed to have breached their obligations under this Section&nbsp;4.09 by virtue of such
conflict. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">70 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Notwithstanding the foregoing, the Issuers will not be required to make an Offer to Purchase
upon a Change of Control if a third party makes the Offer to Purchase, in the manner, at the times and otherwise in compliance with the requirements set forth in this Section&nbsp;4.09 applicable to an Offer to Purchase made by the Issuers and
purchases all the Notes validly tendered and not withdrawn under such Offer to Purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.10 <U>Business Activities</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wise Intermediate Holdings shall not, and shall not permit any Restricted Subsidiary to, engage in any business other than Permitted
Businesses, except to such extent as would not be material to Wise Intermediate Holdings or its Restricted Subsidiaries, taken as a whole. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.11 <U>Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Wise Intermediate Holdings will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, create or agree to
any encumbrance or restriction on the ability of any Restricted Subsidiary to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) pay dividends or make any other
distributions on its Equity Interests to Wise Intermediate Holdings or any of its Restricted Subsidiaries, or with respect to any other interest or participation in, or measured by, its profits, or pay any Indebtedness owed to Wise Intermediate
Holdings or any of its Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) make loans or advances to Wise Intermediate Holdings or any of its
Restricted Subsidiaries; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) pay any liabilities owed to Wise Intermediate Holdings or any of its Restricted Subsidiaries;
or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) transfer any of its properties or assets to Wise Intermediate Holdings or any of its Restricted Subsidiaries. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Section&nbsp;4.11(a)&nbsp;will not apply to encumbrances or restrictions existing under or by reason of: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) those in existence on the Closing Date in the Indenture, the Existing Opco Indenture (and related security documents), the
Credit Agreement (and related security documents) or any other agreements in effect on the Closing Date and any extensions, refinancings, renewals, replacements, amendments, supplements or restatements of such agreements; <U>provided</U> that the
encumbrances and restrictions in any such extensions, refinancings, renewals, replacements, amendments, supplements or restatements are not materially less favorable, taken as a whole (as determined by Wise Intermediate Holdings in good faith), to
the Holders than those encumbrances or restrictions that are then in effect and that are being extended, refinanced, renewed, replaced, amended, supplemented or restated; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">71 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) applicable law, rules, regulations or orders; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) any agreement or instrument (including Acquired Indebtedness) applicable to or binding on a Person, or any property or
assets, acquired by Wise Intermediate Holdings or any of its Restricted Subsidiaries as in effect at the time of such acquisition (except to the extent such agreement or instrument was entered into in connection with or in contemplation of such
acquisition), which encumbrance or restriction is not applicable to any Person, or the properties or assets of any Person, other than the Person, or the property or assets of the Person, or the property or assets, so acquired; <U>provided</U> that,
in the case of such acquired Person&#146;s Indebtedness, such Indebtedness was permitted to be incurred by the terms of the Notes and this Indenture, and any extensions, refinancings, renewals, amendments or replacements of such agreements;
<U>provided further</U> that the encumbrances and restrictions in any such extensions, refinancings, renewals, amendments or replacements are not materially less favorable, taken as a whole (as determined by Wise Intermediate Holdings in good
faith), to the Holders than those encumbrances or restrictions that are then in effect and that are being extended, refinanced, renewed, amended or replaced; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) customary provisions contained in any agreement for the sale or other disposition of a Restricted Subsidiary or assets
thereof that restricts distributions by such Restricted Subsidiary or the transfer of such assets pending such sale or other disposition; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) those contained in the terms of any Indebtedness permitted to be incurred under this Indenture if either: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(A) Wise Intermediate Holdings determines in good faith that the encumbrances and restrictions, taken as a whole, are not
materially less favorable to the Holders than those encumbrances and restrictions contained in the Credit Agreement; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:13%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(B) (x) Wise Intermediate Holdings determines in good faith that the encumbrances and restrictions, taken as a whole, are not
materially more disadvantageous to the Holders of the Notes than is customary in comparable financings available to the Issuers at such time; and (y)&nbsp;Wise Intermediate Holdings determines in good faith that, based on its assessment of the
obligor&#146;s ability to meet the financial and other covenants contained in the terms of such Indebtedness and other factors deemed relevant by Wise Intermediate Holdings, such encumbrances and restrictions will not cause the Issuers not to have
the funds necessary to pay the principal (at maturity) of or interest on the Notes; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">72 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>provided</U>, in each case, that such Indebtedness was permitted to be incurred by the terms
of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(6) customary provisions with respect to the subletting, assignment or transfer of any property or
asset that is a lease, license, conveyance, contract or similar property or asset; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(7) customary provisions in joint
venture agreements and other similar agreements entered into in the ordinary course of business and which the Board of Directors of Wise Intermediate Holdings determines in good faith will not adversely affect the Issuers&#146; ability to make
payments of principal or interest on the Notes in any material respect; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(8) restrictions on cash or other deposits or net
worth under contracts entered into in the ordinary course of business; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(9) encumbrances and restrictions in Indebtedness
refinancing other Indebtedness; <U>provided</U> that the encumbrances and restrictions contained in the new Indebtedness are not materially less favorable, taken as a whole (as determined by Wise Intermediate Holdings in good faith), to the Holders,
than those contained in the Indebtedness being refinanced; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(10) encumbrances on property at the time the property was
acquired by Wise Intermediate Holdings or a Restricted Subsidiary, which encumbrances are not applicable to any other properties or assets of Wise Intermediate Holdings or its Restricted Subsidiaries; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(11) customary restrictions imposed by an agreement to sell, transfer or otherwise dispose of assets or Equity Interests to any
person pending the closing of such sale, transfer or other disposition; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(12) encumbrances or restrictions with respect to
a Securitization Entity in connection with a Qualified Securitization Transaction; <U>provided</U>, <U>however</U>, that such encumbrances and restrictions are necessary or advisable to effect the transactions contemplated under such Qualified
Securitization Transaction in the good faith determination of Wise Intermediate Holdings; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(13) any encumbrances or
restrictions arising or agreed to in the ordinary course of business, and not relating to any Indebtedness, that Wise Intermediate Holdings determines in good faith do not, individually or in the aggregate, materially affect the Issuers&#146;
ability to make future principal or interest payments on the Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Nothing contained in this Section&nbsp;4.11 shall prevent Wise
Intermediate Holdings or any Restricted Subsidiary from (x)&nbsp;creating, incurring, assuming or suffering to exist any Liens otherwise permitted pursuant to Section&nbsp;4.06 or (y)&nbsp;restricting the sale or other disposition of property or
assets of Wise Intermediate Holdings or any of its Restricted Subsidiaries that secure Indebtedness of Wise Intermediate Holdings or any of its Restricted Subsidiaries. For purposes of determining compliance with this Section&nbsp;4.11, the
subordination of loans or advances made to Wise Intermediate Holdings or a Restricted Subsidiary to other Indebtedness incurred by Wise Intermediate Holdings or any such Restricted Subsidiary shall not be deemed a restriction on the ability to make
loans or advances. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">73 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.12 <U>Payments for Consent</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wise Intermediate Holdings will not, and will not permit any of its Restricted Subsidiaries to, directly or indirectly, pay or cause to be paid
any consideration to or for the benefit of any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or provisions of this Indenture or the Notes unless such consideration is offered to be paid and is paid to all
Holders that consent, waive or agree to amend such terms and provisions in the time frame set forth in the solicitation documents relating to such consent, waiver or agreements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.13 <U>Provision of Financial Information</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) So long as any Notes are outstanding, Wise Intermediate Holdings will have its annual financial statements audited by a nationally
recognized firm of independent accountants and will furnish to the Trustee and the Holders, within 45&nbsp;days from the end of a quarterly period and 90&nbsp;days from the end of Wise Intermediate Holdings&#146; fiscal year, all quarterly and
annual financial statements in a form substantially similar to the form included in the Offering Memorandum prepared in accordance with GAAP and together with a &#147;Management&#146;s Discussion and Analysis of Financial Condition and Results of
Operations&#148; for each such quarter or fiscal year and, with respect to the annual information only, an opinion on the annual financial statements by Wise Intermediate Holdings&#146; certified independent accountants; <U>provided</U>,
<U>however</U>, that (1)&nbsp;such financial statements shall not be required to contain separate financial statements for any Guarantor (if any) other than, only if there are any Guarantors at such time, condensed consolidating footnote disclosure
containing information with respect to Guarantors and Subsidiaries that are not guaranteeing the Notes, in each case on an aggregate basis and consistent with the presentation in the Offering Memorandum, (2)&nbsp;such reports shall not be required
to comply with the rules, regulations and policies of the SEC with respect to any non-GAAP financial measures contained therein and (3)&nbsp;Wise Intermediate Holdings shall not be required to comply with Section&nbsp;404 of the Sarbanes-Oxley Act
of 2002. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Wise Intermediate Holdings will distribute such financial statements and such reports (as well as the details regarding the
conference call described below) electronically to (a)&nbsp;any Holder, (b)&nbsp;to any beneficial owner of Notes, (c)&nbsp;to any prospective investor who provides their e-mail address to Wise Intermediate Holdings and certifies that they are a QIB
or (d)&nbsp;any securities analyst who provides their e-mail address to Wise Intermediate Holdings and certifies that they are a securities analyst. Wise Intermediate Holdings will also hold a quarterly conference call for the Holders of the Notes
to discuss such financial information. The conference call will not be later than 10&nbsp;Business&nbsp;Days from the time that Wise Intermediate Holdings distributes the financial information as set forth above. In addition, Wise Intermediate
Holdings will provide to the Trustee and the Holders all current reports that would be required to be filed with or furnished to the SEC on Form&nbsp;8-K if Wise Intermediate Holdings were required to file or furnish such reports, within
10&nbsp;days following the occurrence of an event that would be required to be reported thereon; <U>provided</U> that no such current report will be required to be furnished if Wise Intermediate Holdings determines in its good faith judgment that
such event is not material to Holders of the Notes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">74 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) For so long as any of the Notes remain outstanding, Wise Intermediate Holdings will furnish
to the Holders and to prospective investors that certify that they are QIBs, upon their request, the information required to be delivered pursuant to Rule&nbsp;144A(d)(4)&nbsp;under the Securities Act. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) If Wise Intermediate Holdings has designated any of its Subsidiaries as Unrestricted Subsidiaries, then, to the extent that any such
Unrestricted Subsidiary or group of Unrestricted Subsidiaries would (but for its or their being designated as an Unrestricted Subsidiary or Subsidiaries) constitute a Significant Subsidiary or Subsidiaries, the quarterly and annual financial
information required by Section&nbsp;4.13(a)&nbsp;shall include a reasonably detailed presentation, either on the face of the financial statements or in the footnotes thereto, and in &#147;Management&#146;s Discussion and Analysis of Financial
Condition and Results of Operations,&#148; of the financial condition and results of operations of Wise Intermediate Holdings and its Restricted Subsidiaries separate from the financial condition and results of operations of the Unrestricted
Subsidiaries of Wise Intermediate Holdings. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) In addition, notwithstanding the foregoing, the financial statements, information and
other information and documents required to be provided by Section&nbsp;4.13(a) may be, rather than those of Wise Intermediate Holdings, those of Opco (so long as Wise Intermediate Holdings and its Subsidiaries (other than Opco and its Subsidiaries)
do not conduct, transact or otherwise engage, or commit to conduct, transact or engage, in any business or operation, other than its direct and indirect ownership of all the Equity Interests in, and its management of, Opco and operations incidental
thereto) or any direct or indirect parent of Wise Intermediate Holdings; <I>provided</I> that, if the financial information so furnished relates to Opco or such direct or indirect parent of Wise Intermediate Holdings, the same is accompanied by a
reasonably detailed description of the quantitative differences between the information relating to (x)&nbsp;Opco and the Opco Restricted Subsidiaries, on the one hand, and the information relating to Wise Intermediate Holdings and its Restricted
Subsidiaries on a stand-alone basis, on the other hand and/or (y)&nbsp;such parent, on the one hand, and the information relating to Wise Intermediate Holdings and its Restricted Subsidiaries on a stand-alone basis, on the other hand, as applicable.
To the extent financial information, including any financial statements, of Opco or any direct or indirect parent of Wise Intermediate Holdings are substituted for those of Wise Intermediate Holdings in reliance on the foregoing sentence, the
references in this Indenture to any financial statements of Wise Intermediate Holdings shall be deemed to refer to the financial statements of Opco or such direct or indirect parent of Wise Intermediate Holdings. From the Closing Date, the financial
statements, information and other information to be provided pursuant to Section&nbsp;4.13(a) shall be those of Opco unless and until the Issuers deliver written notice to the Trustee that such financial statements, information and other information
to be provided shall be those of a different entity pursuant to this Section&nbsp;4.13(e). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) Delivery of such reports, information and
documents to the Trustee is for informational purposes only and the Trustee&#146;s receipt thereof will not constitute constructive notice of any information contained therein, including the Issuers&#146; compliance with any of the covenants in this
Indenture (as to which the Trustee is entitled to rely on exclusively on an Officers&#146; Certificate). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">75 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.14 <U>Statement by Officers as to Default</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In the event that any Officer becomes aware of any Default or Event of Default, the Issuers shall, within 5 Business Days, deliver to the
Trustee an Officers&#146; Certificate specifying such Default or Event of Default. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.15 <U>Payment of Taxes and Other
Claims</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay or discharge and shall cause each of their Subsidiaries to pay or discharge, or cause to be paid or
discharged, before the same shall become delinquent (i)&nbsp;all material taxes, assessments and governmental charges levied or imposed upon (a)&nbsp;the Issuers or any such Subsidiary, (b)&nbsp;the income or profits of any such Subsidiary which is
a corporation or (c)&nbsp;the property of the Issuers or any such Subsidiary and (ii)&nbsp;all material lawful claims for labor, materials and supplies that, if unpaid, might by law become a lien upon the property of the Issuers or any such
Subsidiary; <U>provided</U> that the Issuers shall not be required to pay or discharge, or cause to be paid or discharged, any such tax, assessment, charge or claim the amount, applicability or validity of which is being contested in good faith by
appropriate proceedings and for which adequate reserves have been established. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.16<U> Maintenance of Properties</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wise Intermediate Holdings shall cause all properties used or useful in the conduct of its business or the business of its Restricted
Subsidiaries to be maintained and kept in good condition, repair and working order and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements thereof, all as in the
judgment of Wise Intermediate Holdings may be necessary so that the business carried on in connection therewith may be properly and advantageously conducted at all times; <U>provided</U>, that nothing in this Section&nbsp;4.16 shall prevent Wise
Intermediate Holdings or any Restricted Subsidiary from discontinuing the use, operation or maintenance of any of such properties or disposing of any of them, if such discontinuance or disposal is, in the judgment of Wise Intermediate Holdings,
desirable in the conduct of the business of Wise Intermediate Holdings or such Restricted Subsidiary. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.17 <U>Compliance
Certificates</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Officers of Wise Intermediate Holdings shall certify, on or before a date not more than 90&nbsp;days after the end of
each fiscal year, that a review has been conducted of the activities of Wise Intermediate Holdings and its Restricted Subsidiaries and Wise Intermediate Holdings&#146; and its Restricted Subsidiaries&#146; performance under this Indenture and that,
to their knowledge, the Issuers have fulfilled all obligations hereunder, or, if there has been a default in the fulfillment of any such obligation, specifying each such default and the nature and status thereof. The Issuers shall also notify the
Trustee in writing within five Business Days if any of them becomes aware of any default or defaults in the performance of any covenants or agreements under this Indenture and such default has not been remedied. For purposes of this
Section&nbsp;4.17, such compliance shall be determined without regard to any period of grace or requirement of </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">76 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
notice provided under this Indenture. If any of the Officers of the Issuers signing such certificate has knowledge of such a Default or Event of Default, the certificate shall describe any such
Default or Event of Default and its status. The first certificate to be delivered pursuant to this Section&nbsp;4.17 shall be for the fiscal year ending December&nbsp;31, 2014. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.18 <U>Waiver of Stay, Extension or Usury Laws</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers covenant (to the extent that they may lawfully do so) that they shall not at any time insist upon, or plead, or in any manner
whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive the Issuers from paying all or any portion of the principal of, premium, if any, or interest on the Notes as
contemplated herein, wherever enacted, now or at any time hereafter in force, or that may affect the covenants or the performance of this Indenture; and (to the extent that they may lawfully do so) the Issuers hereby expressly waive all benefit or
advantage of any such law and covenant that they will not hinder, delay or impede the execution of any power herein granted to the Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.19 <U>Maintenance of Office or Agency.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall maintain an office or agency where Notes may be surrendered for registration of transfer or exchange or for presentation for
payment and where notices and demands to or upon the Issuers in respect of the Notes and this Indenture may be served. The Issuers will give prompt written notice to the Trustee of the location, and any change in the location, of such office or
agency. If at any time the Issuers shall fail to maintain any such required office or agency or shall fail to furnish the Trustee with the address thereof, such presentations, surrenders, notices and demands may be made or served at the Corporate
Trust Office of the Trustee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may also from time to time designate one or more other offices or agencies where the Notes may
be presented or surrendered for any or all such purposes and may from time to time rescind such designations. The Issuers shall give prompt written notice to the Trustee of any such designation or rescission and of any change in the location of any
such other office or agency. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers hereby initially designate Wilmington Trust, National Association, Wilmington, Delaware, as such
office of the Issuers in accordance with Section&nbsp;2.03. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.20 <U>Suspension of Covenants</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Following the first day: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the
Notes are rated Investment Grade by both of the Rating Agencies; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) no Default has occurred and is continuing under this Indenture,
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">77 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wise Intermediate Holdings and its Restricted Subsidiaries shall not be subject to the provisions
of Sections&nbsp;4.03, 4.04, 4.05, 4.07, 4.08, 4.11 and 5.01(a)(3)&nbsp;(collectively, the &#147;<U>Suspended Covenants</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If at
any time the credit rating on the Notes is downgraded below an Investment Grade rating by any Rating Agency, then the Suspended Covenants will thereafter be reinstated as if such covenants had never been suspended (the &#147;<U>Reinstatement
Date</U>&#148;) and be applicable pursuant to the terms of this Indenture (including in connection with performing any calculation or assessment to determine compliance with the terms of this Indenture), unless and until the Notes subsequently have
Investment Grade ratings from both of the Rating Agencies and no Default or Event of Default is in existence (in which event the Suspended Covenants shall no longer be in effect for such time that the Notes maintain an Investment Grade rating from
both of the Rating Agencies and no Default or Event of Default is in existence); <U>provided</U>, <U>however</U>, that no Default, Event of Default or breach of any kind shall be deemed to exist under this Indenture, the Notes or the Subsidiary
Guarantees with respect to the Suspended Covenants based on, and none of Wise Intermediate Holdings or any of its Subsidiaries shall bear any liability for, any actions taken or events occurring during the Suspension Period (as defined below),
regardless of whether such actions or events would have been permitted if the applicable Suspended Covenants remained in effect during such period. The period of time between the date of suspension of the covenants and the Reinstatement Date is
referred to as the &#147;<U>Suspension Period</U>.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On the Reinstatement Date, all Indebtedness incurred during the Suspension
Period will be classified to have been incurred pursuant to Section&nbsp;4.03(a)&nbsp;or one of the clauses set forth in the definition of &#147;Permitted Indebtedness&#148; (to the extent such Indebtedness would be permitted to be incurred
thereunder as of the Reinstatement Date and after giving effect to Indebtedness incurred prior to the Suspension Period and outstanding on the Reinstatement Date). To the extent such Indebtedness would not be so permitted to be incurred pursuant to
Section&nbsp;4.03(a)&nbsp;or the definition of &#147;Permitted Indebtedness,&#148; such Indebtedness will be deemed to have been outstanding on the Closing Date, so that it is classified under clause&nbsp;(1)&nbsp;of the definition of
&#147;Permitted Indebtedness.&#148; Calculations made after the Reinstatement Date of the amount available to be made as Restricted Payments under Section&nbsp;4.04 will be made as though Section&nbsp;4.04 had been in effect since the Closing Date
and throughout the Suspension Period. Accordingly, Restricted Payments made during the Suspension Period will reduce the amount available to be made as Restricted Payments under Section&nbsp;4.04(a). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of Section&nbsp;4.05, all agreements and arrangements entered into by Wise Intermediate Holdings and any Restricted Subsidiary
with an Affiliate of Wise Intermediate Holdings during the Suspension Period prior to the Reinstatement Date will be deemed to have been entered into on or prior to the Closing Date and for purposes of Section&nbsp;4.11, all contracts entered into
during the Suspension Period prior to the Reinstatement Date that contain any of the restrictions contemplated by such covenant will be deemed to have been existing on the Closing Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">During a Suspension Period, the Issuers may elect, by delivering written notice thereof to the Trustee, to suspend the Subsidiary Guarantees
(if any at such time). On the Reinstatement Date or as soon as reasonably practicable (but in no event more than 10 Business Days) thereafter, any Subsidiary Guarantee that was suspended will be reinstated. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">78 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">During any Suspension Period, the Board of Directors of Wise Intermediate Holdings may not
designate any of Wise Intermediate Holdings&#146; Subsidiaries as Unrestricted Subsidiaries pursuant to this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Wise Intermediate
Holdings shall promptly notify the Trustee in writing of the existence, and of the termination, of any Suspension Period or Reinstatement Date; <U>provided</U> that the Trustee shall have no obligation to discover or verify the existence or
termination of any Suspension Period or Reinstatement Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;4.21 <U>Designation of Restricted and Unrestricted
Subsidiaries</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Board of Directors of Wise Intermediate Holdings may designate any Restricted Subsidiary (including any newly
acquired or newly formed Subsidiary of Wise Intermediate Holdings) to be an Unrestricted Subsidiary unless such Subsidiary owns any Equity Interests of, or owns or holds any Lien on any property of, Wise Intermediate Holdings or any Restricted
Subsidiary; <U>provided</U> that (A)&nbsp;any Guarantee by Wise Intermediate Holdings or any Restricted Subsidiary of any Indebtedness of the Subsidiary being so designated shall be deemed an &#147;incurrence&#148; of such Indebtedness and an
&#147;Investment&#148; by Wise Intermediate Holdings or such Restricted Subsidiary (or both, if applicable) at the time of such designation; (B)&nbsp;either (I)&nbsp;the Subsidiary to be so designated has total assets of $1,000 or less or
(II)&nbsp;if such Subsidiary has assets greater than $1,000, such designation would be permitted under Section&nbsp;4.04 and (C)&nbsp;if applicable, the incurrence of Indebtedness and the Investment referred to in clause&nbsp;(A)&nbsp;of this
proviso would be permitted under Section&nbsp;4.03 and Section&nbsp;4.04. The Board of Directors of Wise Intermediate Holdings may designate any Unrestricted Subsidiary to be a Restricted Subsidiary; <U>provided</U> that (a)&nbsp;immediately after
giving <U>pro forma</U> effect to such designation, (i)&nbsp;Wise Intermediate Holdings would be able to incur at least $1.00 of Indebtedness under the Fixed Charge Coverage Ratio described under Section&nbsp;4.03(a) and (ii)&nbsp;the Fixed Charge
Coverage Ratio would be equal to or greater than immediately prior to such designation; (b)&nbsp;no Default or Event of Default shall have occurred and be continuing at the time of or after giving effect to such designation and (c)&nbsp;all Liens
and Indebtedness of such Unrestricted Subsidiary outstanding immediately after such designation would, if incurred at such time, have been permitted to be incurred (and shall be deemed to have been incurred) for all purposes of this Indenture. Any
such designation by the Board of Directors of Wise Intermediate Holdings shall be evidenced to the Trustee by promptly filing with the Trustee a copy of the resolution of the Board of Directors of Wise Intermediate Holdings giving effect to such
designation and an Officers&#146; Certificate certifying that such designation complied with the foregoing provisions. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">79 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 5 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SUCCESSORS </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.01
<U>Consolidation, Merger or Sale of Assets</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Each Issuer agrees not to consolidate or merge with or into any other entity, or sell,
lease or convey all or substantially all of its assets to any other entity in any one or more transactions unless the following conditions are met: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1) the resulting, surviving or transferee Person (the &#147;<U>Surviving Entity</U>&#148;) (if not such Issuer) (A)&nbsp;is
organized under the laws of the United States of America or any state or the District of Columbia; <U>provided</U> that if the Surviving Entity is not a corporation satisfying the requirements of this clause&nbsp;(A), there shall be an obligor or a
co-obligor that is a corporation that satisfies the requirements of this clause (A)&nbsp;and (B)&nbsp;shall expressly assume, by an indenture supplemental hereto, executed and delivered to the Trustee, all of such Issuer&#146;s obligations under the
Notes and this Indenture (and any Subsidiary Guarantee will be confirmed as applying to such Surviving Entity&#146;s obligations); </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2) immediately after giving effect to the transaction (and treating any Indebtedness which becomes an obligation of the
Surviving Entity or any Restricted Subsidiary as a result of such transaction as having been incurred by such Surviving Entity or such Restricted Subsidiary at the time of such transaction), no Default or Event of Default under this Indenture may
have occurred and be continuing; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(3) immediately after giving effect to the transaction (and treating any indebtedness
which becomes an obligation of the Surviving Entity or any Restricted Subsidiary as a result of such transaction as having been incurred by such Surviving Entity or such Restricted Subsidiary at the time of such transaction), either (x)&nbsp;the
Surviving Entity would be able to incur at least $1.00 of Indebtedness under the Fixed Charge Coverage Ratio under Section&nbsp;4.03(a)&nbsp;determined on a <U>pro forma</U> basis as if such transaction had occurred at the beginning of the
immediately preceding four-quarter period; or (y)&nbsp;the Fixed Charge Coverage Ratio for the Surviving Entity, determined on a <U>pro forma</U> basis as if such transaction had occurred at the beginning of the immediately preceding four-quarter
period, would be equal to or greater than the actual Fixed Charge Coverage Ratio for Wise Intermediate Holdings for the most recently completed four-quarter period prior to the transaction; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(4) at the time of the transaction, each Guarantor, if any, unless it is the other party to the transactions described above,
will have by supplemental indenture confirmed that its Subsidiary Guarantee shall apply to such Person&#146;s obligations under this Indenture and the Notes; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(5) Wise Intermediate Holdings must deliver to the Trustee an Officers&#146; Certificate and Opinion of Counsel, each stating
that such consolidation, merger or transfer and such supplemental indenture complies with this provision and that all conditions precedent provided for herein relating to such transaction have been complied with. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">80 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, if an Issuer effects a consolidation, merger or sale, conveyance,
assignment, transfer, lease or other disposition of substantially all of its assets, the condition set forth in clause&nbsp;(3)&nbsp;of this Section&nbsp;5.01(a)&nbsp;shall not apply to a transaction involving a Surviving Entity that is otherwise
subject to the foregoing provisions if: (A)&nbsp;(i)&nbsp;the Surviving Entity (1)&nbsp;was formed for the purpose of effecting such transaction, (2)&nbsp;did not engage in any business prior to such transaction, (3)&nbsp;immediately prior to such
transaction had no indebtedness or liabilities, contingent or otherwise, of any kind whatsoever, (4)&nbsp;immediately after such transaction had no additional &#147;indebtedness&#148; or significant &#147;liabilities,&#148; contingent or otherwise,
of any kind whatsoever in excess of that which such Issuer had immediately prior to such transaction and (5)&nbsp;immediately after such transaction was engaged in the same business as such Issuer was engaged in immediately prior to such
transaction, and (ii)&nbsp;the holders of the outstanding voting shares of such Issuer immediately prior to the transaction own, directly or indirectly, the outstanding voting shares of the Surviving Entity immediately after the transaction in
substantially the same proportion as before the transaction; or (B)&nbsp;the merger was affected solely in connection with changing the jurisdiction of organization of such Issuer. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each Guarantor (if any) will not, and the Issuers will not permit a Guarantor to, in one or more transactions, consolidate
or merge with or into any other entity (other than the Issuers or any Guarantor) or sell, lease or convey all or substantially all of its assets to any other entity (other than the Issuers or any Guarantor), unless at the time and after giving
effect thereto: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) (A) either (1)&nbsp;the Guarantor will be the continuing entity in the case of a consolidation or
merger involving the Guarantor or (2)&nbsp;the Person formed by or surviving such consolidation or merger or the Person that acquires all or substantially all of the assets of the Guarantor on a consolidated basis will be a corporation, limited
liability company, limited liability partnership, partnership or trust duly organized and validly existing under the laws of the United States of America, any state thereof or the District of Columbia or the jurisdiction of organization of the
Guarantor and such Person expressly assumes, by a supplemental indenture all the obligations of such Guarantor under its Subsidiary Guarantee and this Indenture and such Subsidiary Guarantee and Indenture will remain in full force and effect; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(B) after giving effect to such transaction, no Default or Event of Default exists; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) the transaction is made in compliance with Section&nbsp;4.07. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">For purposes of this Section&nbsp;5.01, if the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all
of the properties and assets of one or more Restricted Subsidiaries of Wise Intermediate Holdings, also constitutes the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties and assets of
Wise Intermediate Holdings and its subsidiaries on a consolidated basis, such disposition shall be deemed to be the sale, lease, conveyance, assignment, transfer or other disposition of all or substantially all of the properties and assets of Wise
Intermediate Holdings. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">81 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;5.02 <U>Successor Substituted</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Upon any consolidation or merger, or any sale, conveyance, transfer, lease or other disposition of all or substantially all of the property and
assets of any Issuer or any Guarantor in accordance with Section&nbsp;5.01 of this Indenture, the successor Person formed by such consolidation or into which such Issuer or Guarantor, as the case may be, is merged or to which such sale, conveyance,
transfer, lease or other disposition is made shall succeed to and be substituted for, and may exercise every right and power of, such Issuer or Guarantor, as the case may be, under this Indenture, the Notes and the related Subsidiary Guarantees (if
any), as the case may be, with the same effect as if such successor Person had been named as such Issuer or such Guarantor, as the case may be, herein; <U>provided</U> that such Issuer or such Guarantor, as the case may be, shall not be released
from its obligation to pay the principal of, premium, if any, or interest on the Notes in the case of a lease of all or substantially all of its property and assets. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 6 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">DEFAULTS AND REMEDIES
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.01 <U>Events of Default</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">An &#147;<U>Event of Default</U>&#148; wherever used herein, means any one of the following events: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) default in the payment of any installment of interest on any Notes for 30&nbsp;days after becoming due; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) default in the payment of the principal of (or premium, if any, on) any Notes when due (upon acceleration, optional redemption, required
purchase or otherwise); </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) (i)&nbsp;default in the performance of any covenant contained in the terms of the Notes or this Indenture
(other than a default in the performance of a covenant that is specifically dealt with in clause&nbsp;(a)&nbsp;or (b)&nbsp;above or in subclause&nbsp;(ii), (iii)&nbsp;or (iv)&nbsp;of this clause&nbsp;(c)) and such default continues for a period of
60&nbsp;days after written notice of such failure, requiring the Issuers to remedy the same, shall have been given to the Issuers by the Trustee or to the Issuers and the Trustee by the Holders of 25% in aggregate principal amount of the Notes then
outstanding; (ii)&nbsp;default in the performance of the covenants contained in Section&nbsp;5.01; (iii)&nbsp;the Issuers fail to make or consummate an Offer to Purchase in accordance with the provisions set forth in Section&nbsp;4.07; (iv)&nbsp;the
Issuers fail to make or consummate an Offer to Purchase in accordance with the provisions set forth in Section&nbsp;4.09; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) default
shall have occurred under any agreements, indentures or instruments under which an Issuer or any Significant Subsidiary then has outstanding Indebtedness in excess of $25.0 million in the aggregate and, if not already matured in accordance with its
terms, such Indebtedness (after giving effect to the applicable grace period) shall have been accelerated, <U>provided</U> that if, prior to the entry of judgment in favor of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">82 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Trustee, such default under such indenture or instrument shall be remedied or cured by such Issuer or such Significant Subsidiary, or waived by the applicable percentage of holders of such
Indebtedness, then the Event of Default under this Indenture shall be deemed likewise to have been remedied, cured or waived; and <U>provided</U> <U>further</U> that if such default results from an action of the United States government or a foreign
government which prevents the affected Issuer or Significant Subsidiary from performing its obligations under such agreement, indenture or instrument, the occurrence of such default will not be an Event of Default under this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) one or more judgments, orders or decrees for the payment of money in excess of $20.0 million, either individually or in the aggregate,
shall be entered against an Issuer or any Significant Subsidiaries and shall not be discharged, paid, stayed, subject to a negotiated settlement or subject to insurance, and there shall have been a period of 60&nbsp;days during which a stay of
enforcement of such judgment or order, by reason of an appeal or otherwise, shall not be in effect; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) a court having jurisdiction in the
premises enters a decree or order for (A)&nbsp;relief in respect of an Issuer or any Significant Subsidiary in an involuntary case under any applicable Bankruptcy Law or insolvency or other similar law now or hereafter in effect,
(B)&nbsp;appointment of a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official with respect to an Issuer or any Significant Subsidiary or for all or substantially all of the property and assets of an Issuer or any
Significant Subsidiary or (C)&nbsp;the winding up or liquidation of the affairs of an Issuer or any Significant Subsidiary other than pursuant to a merger or consolidation permitted by this Indenture and, in each case, such decree or order shall
remain unstayed and in effect for a period of 60 consecutive&nbsp;days; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) an Issuer or any Significant Subsidiary (A)&nbsp;commences a
voluntary case under any applicable Bankruptcy Law or insolvency or other similar law now or hereafter in effect, or consents to the entry of an order for relief in an involuntary case under any such law, (B)&nbsp;consents to the appointment of or
taking possession by a receiver, liquidator, assignee, custodian, trustee, sequestrator or similar official with respect to an Issuer or any Significant Subsidiary or for all or substantially all of the property and assets of an Issuer or any
Significant Subsidiary or (C)&nbsp;effects any general assignment for the benefit of creditors; or </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) any Subsidiary Guarantee of any
Significant Subsidiary or any group of Restricted Subsidiaries which collectively (as of the latest audited consolidated financial statements for Wise Intermediate Holdings) would constitute a Significant Subsidiary shall for any reason cease to be,
or shall for any reason be asserted in writing by any Guarantor or Issuer not to be, in full force and effect and enforceable in accordance with its terms, except to the extent permitted by this Indenture and any such Subsidiary Guarantee. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.02 <U>Acceleration</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default (other than an Event of Default specified in clause&nbsp;(f) or (g)&nbsp;of Section&nbsp;6.01 that occurs with respect
to an Issuer or any Significant Subsidiary) occurs and is continuing under this Indenture, the Trustee or the Holders of at least 25% in aggregate principal amount of the Notes, then outstanding, by written notice to the Issuers (and to the Trustee
if such notice is given by the Holders), may, and the Trustee at the request of such </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">83 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Holders shall, declare the principal of, premium, if any, and accrued interest on the Notes to be immediately due and payable. Upon a declaration of acceleration, such principal of, premium, if
any, and accrued interest shall be immediately due and payable. If an Event of Default specified in clause&nbsp;(f) or (g)&nbsp;of Section&nbsp;6.01 occurs with respect to an Issuer or any Significant Subsidiary, the principal of, premium, if any,
and accrued interest on the Notes then outstanding shall automatically become and be immediately due and payable without any declaration or other act on the part of the Trustee or any Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.03 Other Remedies. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default occurs and is continuing, the Trustee may, and at the direction of the Holders of at least a majority in principal
amount of the outstanding Notes shall, pursue any available remedy by proceeding at law or in equity to collect the payment of principal of, premium, if any, or interest on the Notes or to enforce the performance of any provision of the Notes or
this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may maintain a proceeding even if it does not possess any of the Notes or does not produce any of them in the
proceeding. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.04 <U>Waiver of Past Defaults</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections 6.02, 6.07 and 9.02, the Holders of at least a majority in principal amount of the outstanding Notes by written notice to
the Issuers and to the Trustee, may waive all past defaults and rescind and annul a declaration of acceleration and its consequences (other than with respect to an Event of Default arising under Section&nbsp;6.01(a)&nbsp;or (b)) if (x)&nbsp;all
existing Events of Default, other than any Event of Default arising under Section&nbsp;6.01(a)&nbsp;or (b), that have become due solely by such declaration of acceleration, have been cured or waived and (y)&nbsp;the rescission would not conflict
with any judgment or decree of a court of competent jurisdiction. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.05 <U>Control by Majority</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Holders of at least a majority in aggregate principal amount of the outstanding Notes may direct the time, method and place of conducting
any proceeding for any remedy available to the Trustee or exercising any trust or power conferred on the Trustee. However, the Trustee may refuse to follow any direction that conflicts with law or this Indenture, that may involve the Trustee in
personal liability, or that the Trustee determines in good faith may be unduly prejudicial to the rights of Holders of Notes not joining in the giving of such direction and may take any other action it deems proper that is not inconsistent with any
such direction received from Holders of Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.06 <U>Limitation on Suits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Holder may not pursue any remedy with respect to this Indenture or the Notes unless: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Holder gives the Trustee written notice of a continuing Event of Default; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">84 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Holders of at least 25% in aggregate principal amount of outstanding Notes make a written
request to the Trustee to pursue the remedy; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) such Holder or Holders offer the Trustee indemnity or security satisfactory to the
Trustee against any costs, liability or expense; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Trustee does not comply with the request within 60&nbsp;days after receipt of the
request and the offer of indemnity or security; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) during such 60-day period, the Holders of a majority in aggregate principal amount
of the outstanding Notes do not give the Trustee a direction that is inconsistent with the request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">However, such limitations do not
apply to the right of any Holder of a Note to receive payment of the principal of, premium, if any, or interest on, such Note or to bring suit for the enforcement of any such payment, on or after the due date expressed in the Notes, which right
shall not be impaired or affected without the consent of the Holder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A Holder may not use this Indenture to prejudice the rights of
another Holder or to obtain a preference or priority over such other Holder (it being understood that the Trustee shall have no responsibility to determine if such actions or forbearances are unduly prejudicial to such Holders). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.07 <U>Rights of Holders of Notes to Receive Payment</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding any other provision of this Indenture, the right of any Holder of a Note to receive payment of the principal of, premium, if
any, or interest on, such Note or to bring suit for the enforcement of any such payment, on or after the due date expressed in the Notes, shall not be impaired or affected without the consent of such Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.08 <U>Collection Suit by Trustee</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Event of Default in payment of principal, premium or interest specified in clause&nbsp;(a) or (b)&nbsp;of Section&nbsp;6.01 occurs and is
continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against Wise Intermediate Holdings or any other obligor of the Notes for the whole amount of principal, premium, if any, and accrued interest remaining
unpaid, together with interest on overdue principal, premium, if any, and, to the extent that payment of such interest is lawful, interest on overdue installments of interest, in each case at the rate specified in the Notes, and such further amount
as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.09 <U>Restoration of Rights and Remedies</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been
discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then, and in every such case, subject to any determination in such proceeding, the Issuers, the Trustee and the Holders shall be restored
severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Issuers, Trustee and the Holders shall continue as though no such proceeding had been instituted. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">85 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.10 <U>Rights and Remedies Cumulative</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or wrongfully taken Notes in
Section&nbsp;2.07, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or
employment of any other appropriate right or remedy. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.11 <U>Delay or Omission Not Waiver</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No delay or omission of the Trustee or of any Holder to exercise any right or remedy accruing upon any Event of Default shall impair any such
right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article&nbsp;6 or by law to the Trustee or to the Holders may be exercised from time to time, and as often as may be
deemed expedient, by the Trustee or by the Holders, as the case may be. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.12 <U>Trustee May&nbsp;File Proofs of Claim</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may file such proofs of claim and other papers or documents as may be necessary or advisable in order to have the claims of
the Trustee (including any claim for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section&nbsp;7.07) and the Holders allowed in any judicial
proceedings relative to the Issuers (or any other obligor of the Notes, including any Guarantors), their creditors or their property and shall be entitled and empowered to collect and receive any monies, securities or other property payable or
deliverable upon conversion or exchange of the Notes or upon any such claims and to distribute the same, and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby
authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due to it for the reasonable compensation,
expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section&nbsp;7.07. Nothing herein contained shall be deemed to empower the Trustee to authorize or consent to, or accept or
adopt on behalf of any Holder, any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof, or to authorize the Trustee to vote in respect of the claim of any Holder in any such
proceeding. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">86 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.13 <U>Priorities</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee collects any money pursuant to this Article&nbsp;6, it shall pay out the money in the following order: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">First: to the Trustee, Paying Agent, Registrar, Transfer Agent, their agents and attorneys for all amounts due under Section&nbsp;7.07,
including payment of all compensation, expenses and liabilities incurred, and all advances made, by the Trustee, Paying Agent, Registrar or Transfer Agent and the costs and expenses of collection; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Second: to Holders for amounts then due and unpaid for principal of, premium, if any, and interest on the Notes in respect of which or for the
benefit of which such money has been collected, ratably, without preference or priority of any kind, according to the amounts due and payable on such Notes for principal, premium, if any, and interest, respectively; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Third: to the Issuers or any other obligors of the Notes, including any Guarantors, as their interests may appear, or as a court of competent
jurisdiction may direct. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee, upon prior written notice to the Issuers, may fix a record date and payment date for any payment to
Holders pursuant to this Section&nbsp;6.13. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;6.14 <U>Undertaking for Costs</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted
by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of the suit, and the court may assess reasonable costs, including reasonable attorneys&#146; fees, against any party litigant in the suit
having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section&nbsp;6.14 does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section&nbsp;6.07 or a suit by Holders of more than
10% in principal amount of the outstanding Notes. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 7 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">TRUSTEE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.01
<U>Duties of Trustee</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) If an Event of Default has occurred and is continuing, the Trustee shall exercise such of the rights and
powers vested in it by this Indenture, and use the same degree of care and skill in its exercise, as a prudent person would exercise or use under the circumstances in the conduct of such person&#146;s own affairs. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Except during the continuance of an Event of Default: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need
perform only those duties that are specifically set forth in this Indenture and no others, and no implied covenants or obligations shall be read into this Indenture against the Trustee; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">87 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) in the absence of bad faith on its part, the Trustee may conclusively rely,
as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the Trustee and conforming to the requirements of this Indenture. However, in the case of any such certificates or
opinions which by any provision hereof are specifically required to be furnished to the Trustee, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture (but need not
confirm or investigate the accuracy of mathematical calculations or other facts stated therein). </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may not be relieved from
liabilities for its own negligent action, its own negligent failure to act or its own willful misconduct, except that: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i)
this paragraph&nbsp;does not limit the effect of paragraph&nbsp;(b)&nbsp;of this Section&nbsp;7.01; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(ii) the Trustee shall
not be liable for any error of judgment made in good faith by a Responsible Officer, unless it is proved in a court of competent jurisdiction that the Trustee was negligent in ascertaining the pertinent facts; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:8%; font-size:10pt; font-family:Times New Roman">(iii) the Trustee shall not be liable with respect to any action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section&nbsp;6.05. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Whether or not therein expressly so provided, every provision of this
Indenture that in any way relates to the Trustee is subject to paragraphs (a), (b)&nbsp;and (c)&nbsp;of this Section&nbsp;7.01. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The
Trustee shall be under no obligation to exercise any of its rights or powers under this Indenture at the request or direction of any of the Holders of the Notes unless the Holders have offered to the Trustee indemnity or security reasonably
satisfactory to it against any loss, liability or expense. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) The Trustee shall not be liable for interest on any money received by it
except as the Trustee may agree in writing with the Issuers. Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) The Trustee shall have no responsibility whatsoever for making any calculations in respect of the Notes required by this Indenture. The
Trustee shall be entitled to rely conclusively on any calculations provided by the Issuers without independent verification. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.02 <U>Rights of Trustee</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) The Trustee may conclusively rely upon any document believed by it to be genuine and to have been signed or presented by the proper Person.
The Trustee need not investigate any fact or matter stated in the document, but the Trustee, in its discretion, may make such further inquiry or investigation into such facts or matters as it may see fit, and, if the Trustee shall determine to make
such further inquiry or investigation, it shall be entitled to examine the books, records and premises of the Issuers, personally or by agent or attorney at the sole cost of the Issuers and shall incur no liability or additional liability of any
kind by reason of such inquiry or investigation. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">88 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Before the Trustee acts or refrains from acting, it may require an Officers&#146; Certificate
or an Opinion of Counsel or both. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on such Officers&#146; Certificate or Opinion of Counsel. The Trustee may consult with counsel of its selection and
the advice of such counsel or any Opinion of Counsel shall be full and complete authorization and protection from liability in respect of any action taken, suffered or omitted by it hereunder in good faith and in reliance thereon. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) The Trustee may act through its attorneys and agents and shall not be responsible for the misconduct or negligence of any agent or attorney
appointed with due care. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) The Trustee shall not be liable for any action it takes or omits to take in good faith that it believes to be
authorized or within the rights or powers conferred upon it by this Indenture. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) Unless otherwise specifically provided in this
Indenture, any demand, request, direction or notice from the Issuers shall be sufficient if signed by an Officer of the Issuers. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) None
of the provisions of this Indenture shall require the Trustee to expend or risk its own funds or otherwise to incur any liability, financial or otherwise, in the performance of any of its duties hereunder, or in the exercise of any of its rights or
powers if it shall have reasonable grounds for believing that repayment of such funds or indemnity satisfactory to it against such risk or liability is not assured to it. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) The Trustee shall not be deemed to have notice of any Default or Event of Default unless a Responsible Officer of the Trustee has actual
knowledge thereof or unless written notice of any event which is in fact such a Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee, and such notice references the Notes and this Indenture. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) In no event shall the Trustee be responsible or liable for special, indirect, punitive, or consequential loss or damage of any kind
whatsoever (including, but not limited to, loss of profit) irrespective of whether the Trustee has been advised of the likelihood of such loss or damage and regardless of the form of action. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) The rights, privileges, protections, immunities and benefits given to the Trustee, including, without limitation, its right to be
indemnified, are extended to, and shall be enforceable by, the Trustee in each of its capacities hereunder, and each agent, custodian and other Person employed to act hereunder. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) The Trustee shall not be required to give any bond or surety in respect of the performance of its powers and duties hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">89 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) The Trustee may request that the Issuers deliver a certificate setting forth the names of
individuals and/or titles of officers authorized at such time to take specified actions pursuant to this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.03
<U>Individual Rights of Trustee</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee, in its individual or any other capacity, may become the owner or pledgee of Notes and
may otherwise deal with the Issuers or any Affiliate of the Issuers with the same rights it would have if it were not Trustee. However, in the event that the Trustee acquires any conflicting interest, it must eliminate such conflict within
90&nbsp;days or resign. Any Agent may do the same with like rights and duties. The Trustee is also subject to Sections 7.10 and 7.11. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.04 <U>Trustee&#146;s Disclaimer</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall not be responsible for and makes no representation as to the validity or adequacy of this Indenture or the Notes, it shall
not be accountable for the Issuers&#146; use of the proceeds from the Notes or any money paid to the Issuers or upon the Issuers&#146; direction under any provision of this Indenture, it shall not be responsible for the use or application of any
money received by any Paying Agent other than the Trustee, and it shall not be responsible for any statement or recital herein or any statement in the Notes or any other document in connection with the sale of the Notes or pursuant to this Indenture
other than its certificate of authentication. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.05 <U>Notice of Defaults</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a Default occurs and is continuing and if it is actually known to a Responsible Officer of the Trustee, the Trustee shall send to Holders of
Notes a notice of the Default within 90&nbsp;days after it occurs. Except in the case of a Default relating to the payment of principal, premium, if any, or interest on any Note, the Trustee may withhold from the Holders notice of any continuing
Default if and so long as it in good faith determines that withholding the notice is in the interests of the Holders of the Notes. The Trustee shall not be deemed to know of any Default unless a Responsible Officer of the Trustee has actual
knowledge thereof or unless written notice of any event which is such a Default is received by a Responsible Officer of the Trustee at the Corporate Trust Office of the Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.06 <U>Reports by Trustee to Holders of the Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Within 60&nbsp;days after each April&nbsp;15, beginning with the April&nbsp;15 following the date of this Indenture, and for so long as Notes
remain outstanding, the Trustee shall mail to the Holders of the Notes a brief report dated as of such reporting date that complies with Trust Indenture Act Section&nbsp;313(a)&nbsp;(but if no event described in Trust Indenture Act
Section&nbsp;313(a)&nbsp;has occurred within the twelve&nbsp;months preceding the reporting date, no report need be transmitted). The Trustee also shall comply with Trust Indenture Act Section&nbsp;313(b)(2). The Trustee shall also transmit by mail
all reports as required by Trust Indenture Act Section&nbsp;313(c). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">90 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.07 <U>Compensation and Indemnity</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers and any Guarantors, jointly and severally, shall pay to the Trustee from time to time such compensation for its acceptance of this
Indenture and services hereunder as the parties shall agree in writing from time to time. The Trustee&#146;s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Issuers and any Guarantors, jointly and
severally, shall reimburse the Trustee promptly upon request for all disbursements, advances and expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the documented compensation, disbursements
and expenses of the Trustee&#146;s agents and counsel. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers and any Guarantors, jointly and severally, shall indemnify the Trustee
for, and hold the Trustee harmless against, any and all loss, damage, claims, liability or expense (including the reasonable, documented fees and expenses of attorneys, as well as local counsel to the extent necessary) incurred by it in connection
with the acceptance or administration of this trust and the performance of its duties hereunder (including the costs and expenses of enforcing this Indenture against the Issuers or any Guarantors (including this Section&nbsp;7.07) or defending
itself against any claim whether asserted by any Holder, the Issuers or any Guarantor, or liability in connection with the acceptance, exercise or performance of any of its powers or duties hereunder). The Trustee shall notify the Issuers promptly
of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Issuers shall not relieve the Issuers of its obligations hereunder. The Issuers shall defend the claim and the Trustee may have separate counsel and the Issuers
shall pay the reasonable and documented fees and expenses of such counsel. The Issuers and any Guarantors need not reimburse any expense or indemnify against any loss, liability or expense incurred by the Trustee through the Trustee&#146;s own
willful misconduct or negligence, as determined by a court of competent jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The obligations of the Issuers under this
Section&nbsp;7.07 shall survive the satisfaction and discharge of this Indenture or the earlier resignation or removal of the Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding anything contrary in Section&nbsp;4.06 hereto, to secure the payment obligations of the Issuers and any Guarantors in this
Section&nbsp;7.07, the Trustee shall have a Lien prior to the Notes on all money or property held or collected by the Trustee, except that held in trust to pay principal and interest on particular Notes. Such Lien shall survive the satisfaction and
discharge of this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">When the Trustee incurs expenses or renders services after an Event of Default specified in
Section&nbsp;6.01(f) or (g)&nbsp;occurs, the expenses and the compensation for the services (including the fees and expenses of its agents and counsel) are intended to constitute expenses of administration under any Bankruptcy Law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall comply with the provisions of Trust Indenture Act Section&nbsp;313(b)(2)&nbsp;to the extent applicable. As used in this
Section&nbsp;7.07, the term &#147;Trustee&#148; shall also include each of the Paying Agent, Registrar and Transfer Agent, as applicable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.08 <U>Replacement of Trustee</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A resignation or removal of the Trustee and appointment of a successor Trustee shall become effective only upon the successor Trustee&#146;s
acceptance of appointment as provided in this Section&nbsp;7.08. The Trustee may resign in writing at any time and the Registrar, Paying Agent and Transfer Agent may resign with 60&nbsp;days&#146; prior written notice and be discharged from
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">91 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
the trust hereby created by so notifying the Issuers. The Holders of a majority in principal amount of the then outstanding Notes may remove the Trustee by so notifying the Trustee and the
Issuers in writing and may remove the Registrar, Paying Agent or Transfer Agent by so notifying such Registrar, Paying Agent or Transfer Agent, as applicable, with 90&nbsp;days&#146; prior written notice. The Issuers may remove the Trustee if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) the Trustee fails to comply with Section&nbsp;7.10; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Trustee is adjudged a bankrupt or an insolvent or an order for relief is entered with respect to the Trustee under any Bankruptcy Law;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) a custodian or public officer takes charge of the Trustee or its property; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) the Trustee becomes incapable of acting. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason, the Issuers shall promptly appoint a
successor Trustee. Within one year after the successor Trustee takes office, the Holders of a majority in principal amount of the then outstanding Notes may appoint a successor Trustee to replace the successor Trustee appointed by the Issuers. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a successor Trustee does not take office within 60&nbsp;days after the retiring Trustee resigns or is removed, the retiring Trustee (at the
Issuers&#146; expense), the Issuers or the Holders of at least 10% in principal amount of the then outstanding Notes may petition any court of competent jurisdiction for the appointment of a successor Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee, after written request by any Holder who has been a Holder for at least six&nbsp;months, fails to comply with
Section&nbsp;7.10, such Holder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the Issuers. Thereupon, the
resignation or removal of the retiring Trustee shall become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. The successor Trustee shall mail a notice of its succession to
Holders. The retiring Trustee shall promptly transfer all property held by it as Trustee to the successor Trustee; <U>provided</U> all sums owing to the Trustee hereunder have been paid and subject to the Lien provided for in Section&nbsp;7.07.
Notwithstanding replacement of the Trustee pursuant to this Section&nbsp;7.08, the Issuers&#146; obligations under Section&nbsp;7.07 shall continue for the benefit of the retiring Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As used in this Section&nbsp;7.08, the term &#147;Trustee&#148; shall also include each of the Paying Agent, Registrar and Transfer Agent, as
applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.09 <U>Successor Trustee by Merger, Etc</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee consolidates, merges or converts into, or transfers all or substantially all of its corporate trust business to, another
corporation, the successor corporation without any further act shall be the successor Trustee. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">92 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.10 <U>Eligibility; Disqualification</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">There shall at all times be a Trustee hereunder that is a corporation or national banking association organized and doing business under the
laws of the United States of America or of any state thereof that is authorized under such laws to exercise corporate trustee power, that is subject to supervision or examination by federal or state authorities and that has a combined capital and
surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Indenture shall always have a
Trustee who satisfies the requirements of Trust Indenture Act Sections 310(a)(1), (2)&nbsp;and (5). The Trustee is subject to Trust Indenture Act Section&nbsp;310(b). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;7.11 <U>Preferential Collection of Claims Against Issuers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee is subject to Trust Indenture Act Section&nbsp;311(a), excluding any creditor relationship listed in Trust Indenture Act
Section&nbsp;311(b). A Trustee who has resigned or been removed shall be subject to Trust Indenture Act Section&nbsp;311(a)&nbsp;to the extent indicated therein. </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 8 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">LEGAL DEFEASANCE AND
COVENANT DEFEASANCE </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.01 <U>Option to Effect Legal Defeasance or Covenant Defeasance</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may, at their option and at any time, elect to have either Section&nbsp;8.02 or 8.03 applied to all outstanding Notes upon
compliance with the conditions set forth below in this Article&nbsp;8. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.02 <U>Legal Defeasance and Discharge</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers will be deemed to have paid and the Issuers and any Guarantors will be discharged from any and all obligations in respect of the
Notes (including the release of any Subsidiary Guarantees pursuant to Section&nbsp;10.06(c)) on the 90th day after the deposit referred to in clause&nbsp;(a)&nbsp;of this Section&nbsp;8.02, and the provisions of this Indenture will no longer be in
effect with respect to the Notes (except for, among other matters, certain obligations to register the transfer or exchange of the Notes, to replace stolen, lost or mutilated Notes, to maintain paying agencies and to hold monies for payment in
trust) and the Trustee, at the expense of Wise Intermediate Holdings, shall execute proper instruments acknowledging the same if: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) With
reference to this Section&nbsp;8.02, the Issuers have irrevocably deposited or caused to be irrevocably deposited with the Trustee (or another trustee satisfying the requirements of Section&nbsp;7.10) and conveyed all right, title and interest to
the Trustee for the benefit of the Holders, under the terms of an irrevocable trust agreement in form and substance satisfactory to the Trustee as trust funds in trust specifically pledged to the Trustee for the benefit of the Holders as security
for payment of the principal of, premium, if any, and accrued interest on the Notes and dedicated solely to, the benefit of the Holders, in and to (1)&nbsp;money in an </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">93 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
amount, (2)&nbsp;U.S. Government Obligations that through the payment of interest and principal in respect thereof in accordance with their terms, will provide, not later than one day before the
due date of any payment referred to in this clause&nbsp;(a), money in an amount or (3)&nbsp;a combination thereof in an amount sufficient (in the opinion of a nationally recognized firm of independent public accountants, investment bank or appraisal
firm expressed in a written certification thereof delivered to the Trustee, in the case of subclause&nbsp;(2) or (3)&nbsp;of this clause&nbsp;(a)), to pay and discharge, without consideration of the reinvestment of such interest and after payment of
all federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, the principal of, premium, if any, and accrued interest on the outstanding Notes on the Stated Maturity of such principal and interest or
Redemption Date, as applicable; <U>provided</U> that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such U.S. Government Obligations to the payment of such principal, premium, if any, and interest with
respect to the Notes. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) The Issuers have delivered to the Trustee (1)&nbsp;either (x)&nbsp;an Opinion of Counsel stating that Holders
will not recognize income, gain or loss for federal income tax purposes as a result of the Issuers&#146; exercise of its option under this Section&nbsp;8.02 and will be subject to federal income tax on the same amount and in the same manner and at
the same times as would have been the case if such deposit, defeasance and discharge had not occurred, which Opinion of Counsel shall be based upon (and accompanied by a copy of) a ruling of the Internal Revenue Service to the same effect unless
there has been a change in applicable federal income tax law after the Closing Date such that a ruling is no longer required or (y)&nbsp;a ruling directed to the Trustee received from the Internal Revenue Service to the same effect as the
aforementioned Opinion of Counsel and (2)&nbsp;an Opinion of Counsel to the effect that the creation of the defeasance trust does not violate the Investment Company Act of 1940 and that after the passage of 90&nbsp;days following the deposit
(except, with respect to any trust funds for the account of any Holder who may be deemed to be an &#147;insider&#148; for purposes of the United States Bankruptcy Code, after one year following the deposit), the trust fund will not be subject to the
effect of Section&nbsp;547 of the United States Bankruptcy Code or Section&nbsp;15 of the New York Debtor and Creditor Law; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
immediately after giving effect to such deposit on a <U>pro forma</U> basis, no Default or Event of Default (other than as a result of borrowing funds to make such deposit and the granting of related Liens), shall have occurred and be continuing on
the date of such deposit or during the period ending on the 90th day after the date of such deposit, and such deposit shall not result in a breach or violation of, or constitute a default under, any other material agreement or instrument to which
Wise Intermediate Holdings or any of its Restricted Subsidiaries is a party or by which Wise Intermediate Holdings or any of its Restricted Subsidiaries is bound; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) if at such time the Notes are listed on a national securities exchange, the Issuers have delivered to the Trustee an Opinion of Counsel to
the effect that the Notes will not be delisted as a result of such deposit, defeasance and discharge; and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the Issuers have delivered
to the Trustee an Officers&#146; Certificate and an Opinion of Counsel, in each case stating that all conditions precedent provided for herein relating to the defeasance contemplated by this Section&nbsp;8.02 have been complied with. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">94 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, prior to the end of the 90-day (or one-year) period referred to in
clause&nbsp;(b)(2)&nbsp;of this Section&nbsp;8.02, none of the Issuers&#146; obligations under this Indenture shall be discharged. Subsequent to the end of such 90-day (or one year) period with respect to this Section&nbsp;8.02, the Issuers&#146;
obligations in Sections 2.02, 2.03, 2.04, 2.06, 2.07, 2.12, 4.01, 4.19, 8.05, 8.06 and 8.07 and the rights, powers, trusts, duties and immunities of the Trustee hereunder shall survive until the Notes are no longer outstanding. Thereafter, only the
Issuers&#146; obligations in Sections 7.07, 8.05, 8.06 and 8.07 shall survive. If and when a ruling from the Internal Revenue Service or an Opinion of Counsel referred to in clause&nbsp;(b)(1)&nbsp;of this Section&nbsp;8.02 is able to be provided
specifically without regard to, and not in reliance upon, the continuance of the Issuers&#146; obligations under Section&nbsp;4.01, then the Issuers&#146; obligations under such Section&nbsp;4.01 shall cease upon delivery to the Trustee of such
ruling or Opinion of Counsel and compliance with the other conditions precedent provided for herein relating to the defeasance contemplated by this Section&nbsp;8.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After any such irrevocable deposit, the Trustee upon request shall acknowledge in writing the discharge of the Issuers&#146; obligations under
the Notes and this Indenture except for those surviving obligations in the immediately preceding paragraph. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.03 <U>Covenant
Defeasance</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may omit to comply with any term, provision or condition set forth in clause&nbsp;(3)&nbsp;of
Section&nbsp;5.01(a)&nbsp;and Sections 4.03 through 4.13 and clause (c)&nbsp;of Section&nbsp;6.01 with respect to clause&nbsp;(3)&nbsp;of Section&nbsp;5.01(a), clause&nbsp;(c)&nbsp;of Section&nbsp;6.01 with respect to Section&nbsp;4.03 through 4.19
and clauses (d)&nbsp;and (e)&nbsp;of Section&nbsp;6.01 shall be deemed not to be Events of Default, in each case with respect to the outstanding Notes if: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) with reference to this Section&nbsp;8.03, the Issuers have irrevocably deposited or caused to be irrevocably deposited with the Trustee (or
another trustee satisfying the requirements of Section&nbsp;7.10) and conveyed all right, title and interest to the Trustee for the benefit of the Holders, under the terms of an irrevocable trust agreement in form and substance satisfactory to the
Trustee as trust funds in trust, specifically pledged to the Trustee for the benefit of the Holders as security for payment of the principal of, premium, if any, and interest, if any, on the Notes, and dedicated solely to, the benefit of the
Holders, in and to (1)&nbsp;money in an amount, (2)&nbsp;U.S. Government Obligations that, through the payment of interest, premium, if any, and principal in respect thereof in accordance with their terms, will provide, not later than one day before
the due date of any payment referred to in this clause&nbsp;(a), money in an amount or (3)&nbsp;a combination thereof in an amount sufficient (in the opinion of a nationally recognized firm of independent public accountants, investment bank or
appraisal firm expressed in a written certification thereof delivered to the Trustee, in the case of subclauses&nbsp;(2) or (3)&nbsp;of this clause&nbsp;(a)), to pay and discharge, without consideration of the reinvestment of such interest and after
payment of all federal, state and local taxes or other charges and assessments in respect thereof payable by the Trustee, the principal of, premium, if any, and accrued interest on the outstanding Notes on the Stated Maturity of such principal or
interest or Redemption Date, as applicable; <U>provided</U> that the Trustee shall have been irrevocably instructed to apply such money or the proceeds of such U.S. Government Obligations to the payment of such principal, premium, if any, and
interest with respect to the Notes; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">95 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the Issuers have delivered to the Trustee an Opinion of Counsel stating that (A)&nbsp;the
creation of the defeasance trust does not violate the Investment Company Act of 1940, (B)&nbsp;after the passage of 90&nbsp;days following the deposit (except, with respect to any trust funds for the account of any Holder who may be deemed to be an
&#147;insider&#148; for purposes of the United States Bankruptcy Code, after one year following the deposit), the trust funds will not be subject to the effect of Section&nbsp;547 of the United States Bankruptcy Code or Section&nbsp;15 of the New
York Debtor and Creditor Law, (C)&nbsp;the Holders will not recognize income, gain or loss for federal income tax purposes as a result of such deposit and defeasance of certain covenants and Events of Default and will be subject to federal income
tax on the same amount and in the same manner and at the same times as would have been the case if such deposit and defeasance had not occurred and (D)&nbsp;the Trustee, for the benefit of the Holders, has a valid first-priority security interest in
the trust funds; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) immediately after giving effect to such deposit on a <U>pro forma</U> basis, no Default or Event of Default (other
than as a result of borrowing funds to make such deposit and the granting of related Liens) shall have occurred and be continuing on the date of such deposit or during the period ending on the 90th day after such date of such deposit, and such
deposit shall not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement or instrument to which Wise Intermediate Holdings or any of its Restricted Subsidiaries is a party or by which Wise
Intermediate Holdings or any of its Restricted Subsidiaries is bound; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) if at such time the Notes are listed on a national securities
exchange, the Issuers have delivered to the Trustee an Opinion of Counsel to the effect that the Notes will not be delisted as a result of such deposit, defeasance and discharge; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) the Issuers have delivered to the Trustee an Officers&#146; Certificate and an Opinion of Counsel, in each case stating that all conditions
precedent provided for herein relating to the defeasance contemplated by this Section&nbsp;8.03 have been complied with. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.04 <U>Reserved</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.05 <U>Deposited Money and U.S. Government Obligations to Be Held in Trust; Other Miscellaneous Provisions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Section&nbsp;8.06, all money and U.S. Government Obligations (including the proceeds thereof) deposited with the Trustee (or other
qualifying trustee, collectively for purposes of this Section&nbsp;8.05, the &#147;<U>Trustee</U>&#148;) pursuant to Section&nbsp;8.02 or 8.03 in respect of the outstanding Notes shall be held in trust and applied by the Trustee, in accordance with
the provisions of such Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuers or a Guarantor acting as Paying Agent) as the Trustee may determine, to the Holders of such Notes of all sums due and
to become due thereon in respect of principal, premium, if any, and interest, but such money need not be segregated from other funds except to the extent required by law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">96 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers shall pay and indemnify the Trustee against any tax, fee or other charge imposed on
or assessed against the cash or U.S. Government Obligations deposited pursuant to Section&nbsp;8.02 or 8.03 or the principal and interest received in respect thereof other than any such tax, fee or other charge which by law is for the account of the
Holders of the outstanding Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Anything in this Article&nbsp;8 to the contrary notwithstanding, the Trustee shall deliver or pay to
the Issuers from time to time upon the written request of the Issuers any money or U.S. Government Obligations held by it as provided in Section&nbsp;8.02 or 8.03 which, in the opinion of a nationally recognized firm of independent public
accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent defeasance pursuant to Section&nbsp;8.02 or 8.03. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.06 <U>Repayment to Issuers</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to applicable abandoned property laws, any money deposited with the Trustee or any Paying Agent, or then held by the Issuers, in trust
for the payment of the principal of, premium, if any, or interest on any Note and remaining unclaimed for two years after such principal, premium, if any, and interest has become due and payable shall be paid to the Issuers on their request or (if
then held by the Issuers) shall be discharged from such trust; and the Holder of such Note shall thereafter look only to the Issuers for payment thereof, and all liability of the Trustee or such Paying Agent with respect to such trust money, and all
liability of the Issuers as trustee thereof, shall thereupon cease. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;8.07 <U>Reinstatement</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee or Paying Agent is unable to apply any U.S. dollars or U.S. Government Obligations in accordance with Section&nbsp;8.02, 8.03 or
8.05, as the case may be, by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Issuers&#146; obligations under this Indenture and the Notes shall be
revived and reinstated as though no deposit had occurred pursuant to Section&nbsp;8.02, 8.03 or 8.05 until such time as the Trustee or Paying Agent is permitted to apply all such money in accordance with Section&nbsp;8.02, 8.03 or 8.05, as the case
may be; <U>provided</U> that, if the Issuers make any payment of principal of, premium, if any, or interest on any Note following the reinstatement of their obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to
receive such payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 9 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AMENDMENT, SUPPLEMENT AND WAIVER </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.01 <U>Without Consent of Holders of Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding Section&nbsp;9.02, the Issuers, any Guarantor, any other obligor under the Notes and the Trustee may amend or supplement this
Indenture, any Subsidiary Guarantee or Notes without the consent of any Holder to: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) cure any ambiguity, defect, mistake or
inconsistency in this Indenture, the Notes or any Subsidiary Guarantee; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">97 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) comply with the provisions of Article&nbsp;5 or Section&nbsp;4.08; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) comply with any requirements of the SEC in connection with the qualification of this Indenture under the Trust Indenture Act; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) evidence and provide for the acceptance of appointment by a successor Trustee under this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) make any other provisions with respect to matters or questions arising under this Indenture, the Notes or any Subsidiary Guarantee;
<U>provided</U> that, in each case, such provisions, shall not materially adversely affect the interests of the Holders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) provide for
the issuance of Additional Notes or PIK Notes in accordance with this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) provide for uncertificated Notes in addition to or in
replacement of certificated Notes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) in the event PIK Notes are issued in certificated form, to make appropriate amendments to this
Indenture to reflect changes to minimum denomination of certificated PIK Notes, establish minimum redemption amounts for certificated PIK Notes and other changes necessary to administer the certificated PIK Notes; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) conform the text of this Indenture, the Notes, the Subsidiary Guarantees (if any) to any provision of the &#147;Description of the
Notes&#148; contained in the Offering Memorandum as evidenced in an Officers&#146; Certificate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.02 <U>With Consent of
Holders of Notes</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to Sections 6.04 and 6.07, the Issuers, any Guarantor, any other obligor under the Notes and the Trustee may
amend or supplement this Indenture, the Notes or any Subsidiary Guarantee with the written consent of the Holders of a majority in aggregate principal amount of the Notes then outstanding (including Additional Notes and PIK Notes, if any) voting as
a single class, and future compliance by the Issuers and each Guarantor party thereto, if applicable, with any provision of this Indenture, any Subsidiary Guarantee or the Notes may be waived with the consent of the Holders of a majority in
principal amount of the then outstanding Notes (including Additional Notes and PIK Notes, if any) voting as a single class. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding the provisions of this Section&nbsp;9.02, without the consent of each Holder of each outstanding Note affected, an amendment
or waiver may not: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) change the Stated Maturity of the principal of, or any installment of interest on, any Note; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) reduce the principal amount of, or premium, if any, or interest on, any Note; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">98 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) change the optional redemption dates or optional redemption prices of the Notes from that
stated under Section&nbsp;3.07; <U>provided</U>, <U>however</U>, that the minimum number of&nbsp;days of notice of redemption that the Issuers must provide may be shortened with the consent of the Holders of not less than a majority in aggregate
principal amount of the outstanding Notes; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) change the place or currency of payment of principal of, or premium, if any, or interest
on, any Note; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) impair the right to institute suit for the enforcement of any payment on or after the Stated Maturity (or, in the case
of a redemption, on or after the Redemption Date) of any Note; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) release any Subsidiary Guarantee of a Significant Subsidiary except in
compliance with the terms of this Indenture; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) amend or modify any of the provisions of this Indenture in any manner that subordinates
the Notes issued thereunder in right of payment to any other Indebtedness of the Issuers or that subordinates any Subsidiary Guarantee in right of payment to any other Indebtedness of the Guarantor issuing any such Subsidiary Guarantee; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) waive a default in the payment of principal of, premium, if any, or interest on the Notes; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) reduce the percentage or aggregate principal amount of outstanding Notes the consent of whose Holders is necessary for waiver of compliance
with certain provisions of this Indenture or for waiver of certain defaults. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">After an amendment, supplement or waiver under this
Section&nbsp;9.02 becomes effective, the Issuers shall mail to the Holders of Notes affected thereby a notice briefly describing the amendment, supplement or waiver. Any failure of the Issuers to mail such notice, or any defect therein, shall not,
however, in any way impair or affect the validity of any such amended or supplemental indenture or waiver. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.03
<U>Reserved</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.04 <U>Effect of Consents</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">An amendment, supplement or waiver becomes effective in accordance with its terms and thereafter binds every Holder; <U>provided</U> that any
amendment or waiver that requires the consent of each affected Holder shall not become effective with respect to any <FONT STYLE="white-space:nowrap">non-consenting</FONT> Holder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers may, but shall not be obligated to, fix a record date for the purpose of determining the Holders entitled to consent to any
amendment, supplement or waiver. If a record date is fixed, then, notwithstanding the preceding paragraph, those Persons who were Holders at such record date (or their duly designated proxies), and only such Persons, shall be entitled to consent to
such amendment, supplement or waiver, whether or not such Persons continue to be Holders after such record date. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">99 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.05 <U>Notation on or Exchange of Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may place an appropriate notation about an amendment, supplement or waiver on any Note thereafter authenticated. The Issuers in
exchange for all Notes may issue and the Trustee shall, upon receipt of an Authentication Order, authenticate new Notes that reflect the amendment, supplement or waiver. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Failure to make the appropriate notation or issue a new Note shall not affect the validity and effect of such amendment, supplement or waiver.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;9.06 <U>Trustee to Sign Amendments, Etc</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this Article&nbsp;9 if the amendment or supplement does not
adversely affect the rights, duties, liabilities or immunities of the Trustee. The Issuers may not sign an amendment, supplement or waiver until the Board of Directors of Wise Intermediate Holdings approves it. In executing any amendment, supplement
or waiver, the Trustee shall receive and (subject to Section&nbsp;7.01) shall be fully protected in conclusively relying upon an Officers&#146; Certificate and an Opinion of Counsel stating that the execution of such amended or supplemental
indenture is authorized or permitted by this Indenture and that such amendment, supplement or waiver is the legal, valid and binding obligation of the Issuers and any Guarantors party thereto, enforceable against them in accordance with its terms,
subject to customary exceptions, and complies with the provisions hereof. Notwithstanding the foregoing, no Opinion of Counsel will be required for the Trustee to execute any amendment or supplement adding a new Guarantor under this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">It shall not be necessary for the consent of the Holders of Notes under this Article&nbsp;9 to approve the particular form of any proposed
amendment or waiver, but it shall be sufficient if such consent approves the substance thereof. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 10 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">FUTURE GUARANTEES </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.01 <U>Guarantee</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Notes are required to be Guaranteed pursuant to Section&nbsp;4.08, each Guarantor shall, subject to this Article&nbsp;10 and execution
of a supplemental indenture in the form of <U>Exhibit D</U> hereto, jointly and severally, Guarantee to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, irrespective of the validity
and enforceability of this Indenture, the Notes or the obligations of the Issuers hereunder or thereunder, that: (a)&nbsp;the principal of, interest, premium, if any, on the Notes shall be promptly paid in full when due, whether at maturity, by
acceleration, redemption or otherwise, and interest on the overdue principal of and interest on the Notes, if any, if lawful, and all other obligations of the Issuers to the Holders or the Trustee hereunder or thereunder shall be promptly paid in
full or performed, all in accordance with the terms hereof and thereof; and (b)&nbsp;in case of any extension of time of payment or renewal of any Notes or any of such other obligations, that same shall be promptly paid in full when due or performed
in accordance with the terms of the extension or renewal, whether at Stated Maturity, by acceleration or otherwise. Failing payment </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">100 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
when due of any amount so Guaranteed or any performance so Guaranteed for whatever reason, the Guarantors shall be jointly and severally obligated to pay the same immediately. Each Guarantor
shall agree that this is a Guarantee of payment and not a Guarantee of collection. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor shall agree that their obligations
hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Notes or this Indenture, the absence of any action to enforce the same, any waiver or consent by any Holder of the Notes with respect to any
provisions hereof or thereof, the recovery of any judgment against the Issuers, any action to enforce the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a guarantor. Each Guarantor shall
waive diligence, presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Issuers, any right to require a proceeding first against the Issuers, protest, notice and all demands whatsoever and shall
covenant that its Subsidiary Guarantee shall not be discharged except by complete performance of the obligations contained in the Notes and this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor shall also agree to pay any and all costs and expenses (including reasonable attorneys&#146; fees and expenses) incurred by the
Trustee or any Holder in enforcing any rights under this Section&nbsp;10.01. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor shall further agree that, as between the
Guarantors, on the one hand, and the Holders and the Trustee, on the other hand, (x)&nbsp;the maturity of the obligations Guaranteed hereby may be accelerated as provided in Article&nbsp;6 for the purposes of its Subsidiary Guarantee,
notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the obligations Guaranteed hereby, and (y)&nbsp;in the event of any declaration of acceleration of such obligations as provided in Article&nbsp;6,
such obligations (whether or not due and payable) shall forthwith become due and payable by the Guarantors for the purpose of such Subsidiary Guarantees. The Guarantors shall have the right to seek contribution from any non-paying Guarantor so long
as the exercise of such right does not impair the rights of the Holders under the Subsidiary Guarantees. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Subsidiary Guarantee shall
remain in full force and effect and continue to be effective should any petition be filed by or against the Issuers for liquidation or reorganization, should the Issuers become insolvent or make an assignment for the benefit of creditors or should a
receiver or trustee be appointed for all or any significant part of the Issuers&#146; assets, and shall, to the fullest extent permitted by law, continue to be effective or be reinstated, as the case may be, if at any time payment and performance of
the Notes are, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee on the Notes or Subsidiary Guarantees, whether as a &#147;voidable preference,&#148; &#147;fraudulent transfer&#148;
or otherwise, all as though such payment or performance had not been made. In the event that any payment or any part thereof is rescinded, reduced, restored or returned, the Notes shall, to the fullest extent permitted by law, be reinstated and
deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case any provision of any Subsidiary
Guarantee shall be invalid, illegal or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">101 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each payment to be made by a Guarantor in respect of its Subsidiary Guarantee shall be made
without set-off, counterclaim, reduction or diminution of any kind or nature. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As used in this Section&nbsp;10.01, the term
&#147;Trustee&#148; shall also include each of the Paying Agent, Registrar and Transfer Agent, as applicable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.02
<U>Limitation on Guarantor Liability</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor shall confirm, and by its acceptance of Notes, each Holder, hereby confirms that
it is the intention of all such parties that the Subsidiary Guarantee of such Guarantor not constitute a fraudulent transfer or conveyance for purposes of Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or
any similar federal or state law to the extent applicable to such Subsidiary Guarantee. To effectuate the foregoing intention, the Trustee, the Holders and any Guarantors hereby irrevocably agree that the obligations of each Guarantor shall be
limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of such Guarantor that are relevant under such laws and after giving effect to any collections from, rights to receive
contribution from or payments made by or on behalf of any other Guarantor in respect of the obligations of such other Guarantor under this Article&nbsp;10, result in the obligations of such Guarantor under its Subsidiary Guarantee not constituting a
fraudulent conveyance or fraudulent transfer under applicable law. Each Guarantor that makes a payment under its Subsidiary Guarantee shall be entitled upon payment in full of all Guaranteed obligations under this Indenture to a contribution from
each other Guarantor in an amount equal to such other Guarantor&#146;s <U>pro rata</U> portion of such payment based on the respective net assets of all the Guarantors at the time of such payment determined in accordance with GAAP. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.03 <U>Execution and Delivery</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">To evidence its Subsidiary Guarantee set forth in Section&nbsp;10.01, each Guarantor shall agree that this Indenture shall be executed on
behalf of such Guarantor by the Chief Executive Officer, the President, the Chief Financial Officer, the Treasurer, the Controller, any Executive Vice President, any Senior Vice President, any Vice President, the Secretary or any Assistant Secretary
of the Guarantor or the sole member of the Guarantor, as the case may be, or any other officers of such Guarantor or such sole member, as the case may be, acting at the direction of any such foregoing officer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If an Officer whose signature is on this Indenture no longer holds that office at the time the Trustee authenticates a Note, the Subsidiary
Guarantee shall be valid nevertheless. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The delivery of any Note by the Trustee, after the authentication thereof hereunder, shall
constitute due delivery of the related Subsidiary Guarantee set forth in this Indenture on behalf of the Guarantors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">None of the Issuers
or the Guarantors shall be required to make a notation on any Note to reflect a Subsidiary Guarantee or any release, termination or discharge thereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">102 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.04 <U>Subrogation</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor shall be subrogated to all rights of Holders of Notes against the Issuers in respect of any amounts paid by any Guarantor
pursuant to the provisions of Section&nbsp;10.01; <U>provided</U> that, if an Event of Default has occurred and is continuing, no Guarantor shall be entitled to enforce or receive any payments arising out of, or based upon, such right of subrogation
until all amounts then due and payable by the Issuers under this Indenture or the Notes shall have been paid in full. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.05
<U>Benefits Acknowledged</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each Guarantor acknowledges that it will receive direct and indirect benefits from the financing
arrangements contemplated by this Indenture and that the Guarantee and waivers made by it pursuant to its Subsidiary Guarantee are knowingly made in contemplation of such benefits. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;10.06 <U>Release of Guarantees</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Notwithstanding any other provision of this Indenture, any Subsidiary Guarantee shall be automatically and unconditionally released and
discharged without any act on the part of any Person upon: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) such Subsidiary ceasing to be a Restricted Subsidiary, or any sale,
exchange or transfer, to any Person that is not a Restricted Subsidiary, of all of the Equity Interests in (including through merger or consolidation), or all or substantially all the assets of, such Restricted Subsidiary (which sale, exchange or
transfer is not prohibited by this Indenture) or the designation of such Restricted Subsidiary as an Unrestricted Subsidiary, in each case, in accordance with the terms of this Indenture; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) the release or discharge of the Guarantee that resulted in the creation of such Subsidiary Guarantee, except a discharge or release by or
as a result of payment under such Guarantee; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) the exercise by the Issuers of their legal defeasance or covenant defeasance option as
described under Article&nbsp;8 or if the Issuers&#146; obligations under this Indenture are discharged in accordance with Article&nbsp;11; or </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) such Subsidiary ceasing to Guarantee any other Indebtedness of the applicable Issuer (other than as a result of payment by such Subsidiary
under such Guarantee). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 11 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SATISFACTION AND DISCHARGE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.01 <U>Satisfaction and Discharge</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise provided in this Section&nbsp;11.01, the Issuers may terminate their obligations under the Notes and this Indenture if:
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) all Notes previously authenticated and delivered (other than destroyed, lost or stolen Notes that have been replaced or Notes that are
paid pursuant to Section&nbsp;4.01 or Notes for whose payment money or securities have theretofore been held in trust and thereafter repaid to the Issuers, as provided in Section&nbsp;8.06) have been delivered to the Trustee for cancellation and the
Issuers have paid all sums payable by them hereunder; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">103 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) (A)&nbsp;the Notes mature within one year or all of them are to be called for redemption
within one year under arrangements satisfactory to the Trustee for giving the notice of redemption, (B)&nbsp;the Issuers irrevocably deposit in trust with the Trustee during such one-year period, under the terms of an irrevocable trust agreement in
form and substance satisfactory to the Trustee, as trust funds solely for the benefit of the Holders for that purpose, money or U.S. Government Obligations, or a combination of both, sufficient (in the opinion of a nationally recognized firm of
independent public accountants, investment bank or appraisal firm expressed in a written certification thereof delivered to the Trustee, in the case of U.S. Government Obligations or a combination of money and U.S. Government Obligations), without
consideration of any reinvestment of any interest thereon, to pay principal, premium, if, any, and interest on the Notes to maturity or redemption, as the case may be, and to pay all other sums payable by it hereunder, (C)&nbsp;no Default or Event
of Default with respect to the Notes shall have occurred and be continuing on the date of such deposit, (D)&nbsp;such deposit will not result in a breach or violation of, or constitute a default under, this Indenture or any other material agreement
or instrument to which the Issuers are a party or by which any of them is bound and (E)&nbsp;the Issuers have delivered to the Trustee an Officers&#146; Certificate and an Opinion of Counsel, in each case stating that all conditions precedent
provided for herein relating to the satisfaction and discharge of this Indenture have been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">With respect to the foregoing
clause&nbsp;(a), the Issuers&#146; obligations under Section&nbsp;7.07 shall survive. With respect to the foregoing clause&nbsp;(b), the Issuers&#146; obligations in Sections 2.02, 2.03, 2.04, 2.06, 2.07, 2.12, 4.01, 4.19, 7.07, 7.08, 8.05, 8.06 and
8.07 shall survive until the Notes are no longer outstanding. Thereafter, only Wise Intermediate Holdings&#146; obligations in Sections 7.07, 8.05, 8.06 and 8.07 shall survive. After any such irrevocable deposit, the Trustee upon request shall
acknowledge in writing the discharge of the Issuers&#146; obligations under the Notes and this Indenture except for those surviving obligations specified above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;11.02 <U>Application of Trust Money</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Subject to the provisions of Section&nbsp;8.06, all money or U.S. Government Obligations deposited with the Trustee pursuant to
Section&nbsp;11.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Issuers or any Guarantor acting as Paying
Agent) as the Trustee may determine, to the Persons entitled thereto, of the principal (and premium, if any) and interest for whose payment such money has been deposited with the Trustee; but such money need not be segregated from other funds except
to the extent required by law. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">104 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in
accordance with Section&nbsp;11.01 by reason of any legal proceeding or by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, the Issuers&#146; and any
Guarantor&#146;s obligations under this Indenture and the Notes shall be revived and reinstated as though no deposit had occurred pursuant to Section&nbsp;11.01; <U>provided</U> that if the Issuers have made any payment of principal of, premium, if
any, or interest on any Notes because of the reinstatement of their obligations, the Issuers shall be subrogated to the rights of the Holders of such Notes to receive such payment from the money or U.S. Government Obligations held by the Trustee or
Paying Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ARTICLE 12 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">MISCELLANEOUS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.01 <U>Notices</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any notice or communication by the Issuers, any Guarantor and the Trustee to the others is duly given if in writing and delivered in person or
mailed by <FONT STYLE="white-space:nowrap">first-class</FONT> mail (registered or certified, return receipt requested), electronic delivery, fax or overnight air courier guaranteeing next day delivery, to the others&#146; address: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">If to the Issuers and/or any Guarantor: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">c/o Wise Metals Intermediate Holdings LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Muscle
Shoals, Alabama 35661 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile: (256)&nbsp;386-6980 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Robert Ericson </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Email:
rericson@wisemetals.com </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Winston&nbsp;&amp; Strawn LLP </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">35
W. Wacker Drive </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Chicago, Illinois 60601 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile: (312)&nbsp;558-5700 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Bruce A. Toth, Esq. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Erin G. Stone, Esq.
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Email: btoth@winston.com </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;estone@winston.com </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">If to the Trustee: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Wilmington
Trust, National Association </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Attention: Wise Metals Account Manager </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">50 S. Sixth Street, Suite 1290 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Minneapolis, MN 55402 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Facsimile:
(612)&nbsp;217 - 5651 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman">Email: LSTEINER@WilmingtonTrust.com </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">105 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Issuers, any Guarantor and the Trustee, by notice to the others, may designate additional or
different addresses for subsequent notices or communications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All notices and communications (other than those sent to Holders) shall be
deemed to have been duly given: as of the date so delivered if delivered electronically, in PDF format; at the time delivered by hand, if personally delivered; five calendar&nbsp;days after being deposited in the mail, postage prepaid, if mailed by
first-class mail; when receipt acknowledged, if faxed; and the next Business Day after timely delivery to the courier, if sent by overnight air courier guaranteeing next day delivery; <U>provided</U> that any notice or communication delivered to the
Trustee shall be deemed effective upon actual receipt thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Any notice or communication to a Holder shall be sent electronically,
mailed by first-class mail, certified or registered, return receipt requested, or by overnight air courier guaranteeing next day delivery to its address shown on the register kept by the Registrar. Failure to send a notice or communication to a
Holder or any defect in it shall not affect its sufficiency with respect to other Holders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If the Issuers send a notice or communication
to Holders, it shall send a copy to the Trustee and each Agent at the same time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.02 <U>Business Days</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If a payment date, delivery date or date of performance is not a Business Day, such payment, delivery or performance may be made on the next
succeeding day that is a Business Day and, if applicable, no additional interest shall accrue in respect of the time period to and including such next succeeding Business Day. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.03 <U>Communication by Holders of Notes with Other Holders of Notes</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Holders may communicate pursuant to Trust Indenture Act Section&nbsp;312(b)&nbsp;with other Holders with respect to their rights under this
Indenture or the Notes. The Issuers, the Trustee, the Registrar and anyone else shall have the protection of Trust Indenture Act Section&nbsp;312(c). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.04 <U>Certificate and Opinion as to Conditions Precedent</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Except as otherwise stated in this Indenture, upon any request or application by the Issuers or any of the Guarantors to the Trustee to take
any action under this Indenture, the Issuers or such Guarantor, as the case may be, shall furnish to the Trustee: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) an Officers&#146;
Certificate in form and substance reasonably satisfactory to the Trustee (which shall include the statements set forth in Section&nbsp;12.05) stating that, in the opinion of the signers, all conditions precedent and covenants, if any, provided for
in this Indenture relating to the proposed action have been satisfied; and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">106 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) an Opinion of Counsel in form and substance reasonably satisfactory to the Trustee (which
shall include the statements set forth in Section&nbsp;12.05) stating that, in the opinion of such counsel, all such conditions precedent and covenants (if any) have been satisfied; <U>provided</U> that no such Opinion of Counsel shall be required
in connection with the order of the Issuers to authenticate and deliver the Notes in the aggregate principal amount of $150,000,000 on the Closing Date pursuant to Section&nbsp;2.02. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.05 <U>Statements Required in Certificate or Opinion</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Each certificate or opinion with respect to compliance with a condition or covenant if any provided for in this Indenture (other than a
certificate provided pursuant to Section&nbsp;4.17 shall include: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) a statement that the Person making such certificate or opinion has
read such covenant or condition if any; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) a brief statement as to the nature and scope of the examination or investigation upon which
the statements or opinions contained in such certificate or opinion are based; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) a statement that, in the opinion of such Person, he or
she has made such examination or investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition if any has been complied with (and, in the case of an Opinion of Counsel, may be limited to
reliance on an Officers&#146; Certificate as to matters of fact); and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) a statement as to whether or not, in the opinion of such Person,
such condition or covenant if any has been complied with. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.06 <U>Rules by Trustee and Agents</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Trustee may make reasonable rules for action by or at a meeting of Holders. The Registrar or Paying Agent may make reasonable rules and set
reasonable requirements for its functions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.07 <U>No Personal Liability of Incorporators, Stockholders, Officers,
Directors, Employees or Controlling Persons</U>. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">No recourse for the payment of the principal of, premium, if any, or interest on any of
the Notes or for any claim based thereon or otherwise in respect thereof, and no recourse under or upon any obligation, covenant or agreement of the Issuers or any Guarantor in this Indenture, or in any of the Notes or because of the creation of any
Indebtedness represented thereby, shall be had against any incorporator, stockholder, officer, director, employee or controlling person of the Issuers or any Guarantor or of any successor Person thereof. Each Holder, by accepting the Notes, waives
and releases all such liability. The waiver and release are part of the consideration for the issuance of the Notes. Such waiver may not be effective to waive liabilities under the federal securities laws. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">107 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.08 <U>Governing Law; Waiver of Jury Trial</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">THIS INDENTURE, THE NOTES AND ANY SUBSIDIARY GUARANTEE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY
JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS INDENTURE, THE NOTES AND ANY SUBSIDIARY GUARANTEE OR THE TRANSACTION CONTEMPLATED HEREBY. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.09 <U>Force Majeure</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In no event shall the Trustee, Paying Agent, Registrar or Transfer Agent be responsible or liable for any failure or delay in the performance
of its obligations under this Indenture arising out of or caused by, directly or indirectly, forces beyond its reasonable control, including without limitation, strikes, work stoppages, accidents, acts of war or terrorism, civil or military
disturbances, nuclear or natural catastrophes or acts of God, and interruptions, loss or malfunctions of utilities, communications or computer (software or hardware) services. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.10 <U>Successors</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">All agreements of the Issuers in this Indenture and the Notes shall bind its successors. All agreements of the Trustee, the Paying Agent,
Registrar and Transfer Agent in this Indenture shall bind their respective successors. All agreements of each Guarantor (if any) in this Indenture shall bind its successors, except as otherwise provided in Section&nbsp;10.06. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.11 <U>Severability</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In case any provision in this Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability
of the remaining provisions shall not in any way be affected or impaired thereby. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.12 <U>Counterpart Originals</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The parties may sign any number of copies of this Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement. Delivery of an executed counterpart of a signature page to this Indenture by facsimile, email or other electronic means shall be effective as delivery of a manually executed counterpart of this Indenture. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.13 <U>Table of Contents, Headings, Etc.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Table of Contents and headings of the Articles and Sections of this Indenture have been inserted for convenience of reference only, are not
to be considered a part of this Indenture and shall in no way modify or restrict any of the terms or provisions hereof. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">108 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.14 <U>USA Patriot Act</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The parties hereto acknowledge that in accordance with Section&nbsp;326 of the USA Patriot Act, the Trustee and Agents, like all financial
institutions and in order to help fight the funding of terrorism and money laundering, are required to obtain, verify, and record information that identifies each person or legal entity that establishes a relationship or opens an account. The
parties to this agreement agree that they will provide the Trustee and the Agents with such information as they may request in order to satisfy the requirements of the USA Patriot Act. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">SECTION&nbsp;12.15 <U>No Adverse Interpretation of Other Agreements</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">This Indenture may not be used to interpret another indenture, loan or debt agreement of any Issuer or any of their Subsidiaries. Any such
indenture, loan or debt agreement may not be used to interpret this Indenture. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Signatures on following pages] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">109 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="10%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="89%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>WISE&nbsp;METALS&nbsp;INTERMEDIATE&nbsp;HOLDINGS&nbsp;LLC</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Robert&nbsp;W. Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name: Robert&nbsp;W. Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title: Executive Vice President and Chief Legal Officer and Secretary</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>WISE HOLDINGS FINANCE CORPORATION</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Robert&nbsp;W. Ericson</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name: Robert&nbsp;W. Ericson</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title: Executive Vice President and Chief Legal Officer and Secretary</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Wise Intermediate
Holdings &#150; Signature Page to Indenture] </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>WILMINGTON TRUST, NATIONAL ASSOCIATION,</B> as Trustee</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Lynn M. Steiner</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Name: Lynn M. Steiner</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Title: Vice President</P></TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Wise Intermediate
Holdings &#150; Signature Page to Indenture] </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.16
<SEQUENCE>14
<FILENAME>d908770dex1016.htm
<DESCRIPTION>EX-10.16
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.16</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><U>EXHIBIT 10.16 </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>RECEIVABLES PURCHASE AGREEMENT </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
RECEIVABLES PURCHASE AGREEMENT (as it may be amended, modified or supplemented from time to time, this &#147;<U>Agreement</U>&#148;) is made as of March&nbsp;23, 2015, between Wise Alloys Funding LLC, a Delaware limited liability company, in its
capacity as seller hereunder (&#147;<U>Seller</U>&#148;), Wise Alloys LLC, a Delaware limited liability company, in its capacity as servicer hereunder (&#147;<U>Servicer</U>&#148;), and HSBC Bank USA, National Association
(&#147;<U>Purchaser</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RECITALS </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Seller has purchased certain accounts receivable related to each account debtor listed on <U>Schedule&nbsp;1</U> hereto (each an
&#147;<U>Account Debtor</U>&#148; and, collectively, the &#147;<U>Account Debtors</U>&#148;) and is the legal and beneficial owner of Receivables (as hereinafter defined) payable by each such Account Debtor; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Seller desires to sell certain Receivables to Purchaser, and Purchaser is willing to purchase from Seller such Receivables, in which
case the terms set forth herein shall apply to such purchase and sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THEREFORE, for good and valuable consideration, the sufficiency of
which is hereby acknowledged, the parties hereto agree as follows: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. <B>DEFINITIONS.</B> Certain capitalized terms used in this
Agreement shall have the meanings given to those terms in <U>Exhibit&nbsp;A</U> attached hereto and thereby incorporated herein. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.
<B>SALE AND PURCHASE.</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Sale</U>. Commencing on the date hereof and ending on the Purchase Termination Date, Seller may from
time to time make an offer to sell to Purchaser certain Proposed Receivables by submitting to Purchaser a request substantially in the form of <U>Exhibit&nbsp;B</U> hereto at least three Business Days prior to any purchase hereunder (a
&#147;<U>Purchase Request</U>&#148;), and Purchaser agrees, subject to the requirements for purchase and all of the terms and conditions therefor set forth herein (including the conditions precedent set forth in <U>Section&nbsp;2(c)</U>), to
purchase from Seller the Proposed Receivables identified in such Purchase Request. Subject to the satisfaction of the conditions precedent set forth in <U>Section&nbsp;2(c)</U> hereof, Purchaser shall and hereby does purchase from Seller, and Seller
shall and hereby does sell to Purchaser, without representation, warranty, covenant or recourse except as expressly provided herein, all of Seller&#146;s right, title and interest in such Proposed Receivables and all Related Rights with respect
thereto as of the applicable Purchase Date (all such Proposed Receivables together with such Related Rights, once sold and purchased hereunder, being referred to, collectively, as the &#147;<U>Purchased Receivables</U>&#148;). The Seller shall not
request and Purchaser shall not be required to fund more than one (1)&nbsp;purchase per week. No single request for purchase hereunder shall be for an amount less than $250,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Term</U>. This Agreement shall continue in effect until the Purchase Termination Date, <U>provided</U> that Purchaser shall have the
right to terminate this Agreement at any time (i)&nbsp;upon fifteen (15)&nbsp;days&#146; prior written notice to Seller in the event that Purchaser is legally prohibited under applicable law or any rule or regulation applicable to Purchaser from
being a party to this Agreement or consummate the transactions contemplated hereunder or (ii)&nbsp;as provided in <U>paragraphs (b)</U>, <U>(c)</U>&nbsp;and <U>(d)</U>&nbsp;of <U>Section&nbsp;7</U> below; <U>provided</U> <U>further</U>, that Seller
shall have the rights to terminate this Agreement as provided in the last sentence of <U>Section&nbsp;7(d)</U> below. Termination shall not affect the rights and obligations of the parties with respect to Purchased Receivables sold hereunder prior
to the Purchase Termination Date or are expressed to survive termination hereof. Notwithstanding the foregoing, so long as no Termination Event </P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
or Unmatured Termination Event has occurred and is continuing, Seller may provide a written request to Purchaser no less than 90 day prior to the then existing Purchase Termination Date of its
desire to extend the then current Purchase Termination Date and Purchaser shall notify Seller within 60 days of the then existing Purchase Termination Date whether it has elected and agreed (in its sole discretion) to extend such Purchase
Termination Date for a period not longer than an additional term of 364 days from the date of such election by the Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)
<U>Conditions Precedent</U>. Each purchase of Proposed Receivables described in a Purchase Request is subject to the satisfaction of the following conditions prior to (and, if applicable, after giving effect to) the proposed Purchase Date, all to
the reasonable satisfaction of Purchaser: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) No event has occurred and is continuing, or would result from such purchase that
constitutes a Termination Event or an Unmatured Termination Event; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) No Material Adverse Change has occurred since the last purchase
of Receivables under this Agreement with respect to Seller, Parent, Originator or Servicer; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) The Servicer has delivered the most
recent Servicer Report required to be delivered by it hereunder; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) (A)&nbsp;There are no amounts then due and owing by the Seller or
the Originator to the Account Debtor in respect of any Purchased Receivable (including, without limitation, in relation to any adjustments or settlements related to any preliminary invoices, based on any agreements with respect thereto between the
Seller or the Originator and the Account Debtor) and (B)&nbsp;the Offset Condition shall be satisfied before and after giving effect to the purchase of such Proposed Receivables; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) The Sale Agreement remains in full force and effect and no Termination Event of Unmatured Termination Event has occurred and is
continuing thereunder; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi) Purchaser shall have received at least three Business Days prior to any purchase (A)&nbsp;a Purchase Request
with respect to the Proposed Receivables, (B)&nbsp;all invoice(s) issued to the Account Debtor that is an obligor on any such Proposed Receivables and related to the Contracts for such Proposed Receivables, and (C)&nbsp;such additional supporting
documentation that Purchaser may have reasonably requested; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vii) The representations and warranties contained in this Agreement and the
Purchase Request shall be true and correct (subject to any applicable materiality qualification to the extent expressly set forth in any particular representation or warranty) on and as of such Purchase Date; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(viii) Seller, Servicer and Parent shall be in compliance (subject to any applicable materiality qualification to the extent expressly set
forth in any particular covenant or other provision) with each term, covenant and other provision of this Agreement applicable to Seller, Servicer or Parent, as applicable; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ix) No Event of Repurchase shall then exist, unless Seller has repurchased and paid (or is paying on such proposed Purchase Date and
Purchaser is satisfied that Seller will be paying on such proposed Purchased Date in cash), the full amount of the Repurchase Price (or the amount subject to Dispute or Dilution, to the extent provided pursuant to <U>Section&nbsp;7</U> hereof) for
the affected Purchased Receivables pursuant to the terms of <U>Section&nbsp;7</U> hereof; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(x) Following the sale and purchase of the Proposed Receivables set forth in the related
Purchase Request, the Outstanding Aggregate Purchase Amount for all Purchased Receivables shall not exceed the Facility Amount; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(xi)
(A)&nbsp;No Account Debtor Insolvency Event shall have occurred with respect to any Account Debtor obligated on the Proposed Receivables described in such Purchase Request, and no Insolvency Event with respect to Seller, Servicer or Parent shall
have occurred and (B)&nbsp;neither Moody&#146;s nor Standard&nbsp;&amp; Poor&#146;s shall have rated or downgraded Anheuser-Busch InBev SA/NV from its current rating to a rating below Baa3 (in the case or Moody&#146;s) or below BBB- (in the case of
Standard&nbsp;&amp; Poor&#146;s); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(xii) Purchaser shall have received payment of all Commitment Fees due and payable under
<U>Section&nbsp;2(e)</U> and all other amounts due under this Agreement at such time; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(xiii) On the initial Purchase Date, Purchaser
shall have received each of the following documents, each dated such date and in form and substance satisfactory to Purchaser: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(A)
Executed counterparts of this Agreement and each of the other Transaction Documents by the parties thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(B) Purchaser shall have
received evidence satisfactory to it that Seller shall have established the Collection Account and Purchaser shall have control over such account as herein provided<B><I>;</I></B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(C) A certificate of each of the Secretary or Assistant Secretary of Seller, Servicer and the Parent certifying the names and true signatures
of the incumbent officers authorized on behalf of such Person to execute and deliver this Agreement, each Purchase Request, the other Transaction Documents and any other documents to be executed or delivered by it hereunder, together with its
Organizational Documents and board resolutions, evidencing necessary organizational action and governmental approvals, if any, necessary for Seller, Servicer and Parent to execute, deliver and perform its obligations under this Agreement and the
other Transaction Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(D) UCC, tax and judgment lien searches, bankruptcy and pending lawsuit searches or equivalent reports or
searches, each of a recent date listing all effective financing statements, lien notices or comparable documents that name Seller as debtor and that are filed in those state and county jurisdictions in which Seller is organized or maintains its
principal place of business or chief executive office and such other searches that Purchaser deems reasonably necessary or appropriate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(E) Acknowledgment copies of proper termination statements (Form UCC-3) and any other relevant filings necessary to evidence the release of
all security interests, ownership and other rights of any Person previously granted by Seller in the Proposed Receivables. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(F) Copies of
proper Uniform Commercial Code financing statements identifying Seller as &#147;seller&#148; and Purchaser as &#147;buyer&#148;, together with evidence that they have been duly filed on or before the initial Purchase Date in the correct filing
office under the Uniform Commercial Code of the jurisdiction in which seller is located for purposes of the UCC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(G) A good standing
certificate for each of Seller, Servicer and Parent from its respective jurisdiction of organization. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(H) A fully completed Seller Information Schedule in the form attached as <U>Schedule 2</U>,
containing certain factual information regarding Seller to the extent that such information was not previously delivered to Purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(I) A duly executed Parent Guarantee, together with a secretary&#146;s certificate of Parent and such other documentation relating to Parent
as Purchaser may request. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(J) A favorable legal opinion of counsel to each of Seller, Servicer and Parent covering enforceability,
general corporate matters, no conflicts and UCC matters, in form and substance satisfactory to Purchaser; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(K) A favorable &#147;true
sale&#148; opinion of counsel to Seller in form and substance satisfactory to Purchaser; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(L) A schedule of Receivables purchased by the
Purchaser from the Seller on each Purchase Date, as such schedule may be amended, modified, updated or supplemented from time to time as Receivables are purchased hereunder; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:17%; font-size:10pt; font-family:Times New Roman">(M) All documents and other evidence that Purchaser requires for its know-your-customer and other compliance checks on Seller, Servicer,
Parent and each Account Debtor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Purchase Price</U>. The purchase price for any Purchased Receivable purchased on any Purchase Date
(the &#147;<U>Purchase Price</U>&#148;) shall be determined on and as of the applicable Purchase Date (without any subsequent adjustment whether for late payment, credit rating deterioration or otherwise), shall be paid to Seller on the Purchase
Date and shall be equal to: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><B>Purchase Price = A - (A x (B x ((C + D)/360))</B>, where: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="2%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="96%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>A</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">=</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Net Invoice Amount</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>B</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">=</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Discount Rate</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>C</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">=</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Number of days between the Purchase Date and the Scheduled Payment Date (including the Purchase Date, but not including the Scheduled Payment Date</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>D</B></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">=</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Buffer Period.</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Commitment Fee</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">The Seller shall pay to the Purchaser, a commitment fee (the &#147;<U>Commitment Fee</U>&#148;) in an amount equal to on the last business
day of each calendar quarter (commencing with the first payment to be made on March&nbsp;31, 2015) and on the Purchase Termination Date, $5000 plus an amount calculated quarterly in arrears at a rate <U>per</U> <U>annum</U> (calculated on a 360-day
basis) determined in accordance with the commitment fee table set forth on Schedule 3 attached hereto, on the average unused portion of the Facility Amount. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>True Sale; No Recourse</U>. Except as otherwise provided in <U>Section&nbsp;7</U> hereof, each purchase of the Purchased Receivables is
made without recourse to Seller, and Seller shall have no liability to Purchaser and Purchaser shall be solely responsible for Account Debtor&#146;s failure to pay any Purchased Receivable when it is due and payable under the terms applicable
thereto, including but not limited to as the result of an Account Debtor Insolvency Event, such assumption of credit risk being </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
effective as of the Purchase Date for such Purchased Receivables. Purchaser and Seller have structured the transactions contemplated by this Agreement as a sale, and Purchaser and Seller each
agree to treat each such transaction as a &#147;true sale&#148; for all purposes under applicable law and accounting principles, including, without limitation, in their respective books, records, computer files, tax returns (federal, state and
local), regulatory and governmental filings (and shall reflect such sale in their respective financial statements). Notwithstanding the intent of the parties hereunder, in the event that the transfers hereunder are recharacterized as other than a
sale from the Seller to the Purchaser, then in order to secure all of Seller&#146;s obligations (monetary or otherwise) under this Agreement, whether now or hereafter existing or arising, due or to become due, direct or indirect, absolute or
contingent, Seller hereby grants to Purchaser a security interest in all of Seller&#146;s right, title and interest (including any undivided interest of Seller) in, to and under all of the following, whether now or hereafter owned, existing or
arising: (i)&nbsp;all Purchased Receivables and all Related Rights with respect thereto, (ii)&nbsp;all Collections with respect to such Purchased Receivables, (iii)&nbsp;all accounts into which Collections may be deposited and all amounts on deposit
therein, (iv)&nbsp;all rights (but none of the obligations) of Seller under the Sale Agreement between Wise Alloys LLC and Seller, and (v)&nbsp;all proceeds of, and all amounts received or receivable under any or all of, the foregoing (collectively,
the &#147;<U>Sold Assets</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. <B>REPRESENTATIONS AND WARRANTIES</B>. Until the later of the Purchase Termination Date and the
last Invoice Due Date (subject to any provisions hereof which by their express terms survive termination, and subject to any specific representations which are expressly limited to a particular date or dates) Seller and, to the extent specifically
applicable to the Servicer below, the Servicer, in each case represents and warrants to Purchaser with respect to itself only that on the date hereof and on each Purchase Date, the representations and warranties set forth below are true and correct
(subject to any applicable materiality qualification to the extent expressly set forth in any particular representation or warranty below): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Proposed Receivables</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) With respect to each transfer of Receivables hereunder, as of the date of the applicable Purchase Request and the related Purchase Date
for such Proposed Receivable, the information contained in the applicable Purchase Request in respect of such Proposed Receivable on the applicable Purchase Date is a true and correct list of the Account Debtor&#146;s name, the purchase order
numbers, the invoice numbers, the Net Invoice Amount due in respect thereof and the Invoice Due Date, in each case, for each applicable Proposed Receivable that is the subject of such Purchase Request. As of the date of the applicable Purchase
Request and the related Purchase Date for such Proposed Receivable, (A)&nbsp;all information contained in each Purchase Request is accurate in all respect, (B)&nbsp;each invoice related to such Proposed Receivable submitted by Seller is accurate in
all respects as of its date, (C)&nbsp;Purchaser has received true and correct copies of all the relevant documentation relating to each of the Proposed Receivables requested by Purchaser, (D)&nbsp;none of the Proposed Receivables are currently
evidenced by &#147;chattel paper&#148; or &#147;instruments&#148; (as each such term is defined in Article 9 of the UCC) (E)&nbsp;each of the Proposed Receivables is in full force and effect and is the valid and binding obligation of the applicable
Account Debtor, enforceable in accordance with its terms, and constitutes the applicable Account Debtor&#146;s legal, valid and binding obligation to pay to Seller the amount of the Purchased Receivables, subject to, as to enforceability,
bankruptcy, insolvency, reorganization, arrangement, moratorium and other laws of general applicability relating to or affecting creditors&#146; rights, (F)&nbsp;neither Seller nor any Account Debtor is in default in the performance of any of the
provisions of the documentation applicable to its transactions included within any Proposed Receivables, including any of the Contracts relating to such Proposed Receivables, (G)&nbsp;each Proposed Receivable and the Contract and sale terms related
thereto are not subject to any Dispute, whether arising out of the transactions contemplated by this Agreement or independently thereof and (H)&nbsp;Seller has delivered to the Account Debtor all property or performed all services required to be so
delivered or performed by the terms of the documentation giving rise to the Proposed Receivables. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) As of the date of the applicable Purchase Request and the related Purchase Date for the
Proposed Receivable, each Proposed Receivable listed in a Purchase Request is an Eligible Receivable and a bona fide payment obligation of the applicable Account Debtor identified in the applicable Invoice and due on the Invoice Due Date for such
Proposed Receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) Each Proposed Receivable (A)&nbsp;arises under a Contract between Originator and the applicable Account
Debtor, (B)&nbsp;does not require the applicable Account Debtor or any other Person to consent to the transfer, sale or assignment of Seller&#146;s rights to payment under such agreement and (C)&nbsp;does not contain a confidentiality provision that
purports to restrict the ability of Purchaser to exercise its rights under this Agreement, including without limitation, its right to review such Contract. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) Seller is the legal and beneficial owner of each Proposed Receivable free and clear of any lien, encumbrance or security interest, and
upon each purchase of a Proposed Receivable, Purchaser shall acquire valid ownership of each Purchased Receivable and the Collections and Related Rights with respect thereto prior to all other Persons. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) No sale or assignment hereunder constitutes a fraudulent transfer or conveyance under any United States federal or applicable state
bankruptcy or insolvency laws or is otherwise void or voidable under such or similar laws or principles or for any other reason. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi)
All Proposed Receivables were sold to the Seller (in the case of the Sale Agreement) and to Purchaser hereunder, as applicable, for fair consideration and reasonably equivalent value. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vii) No proceeds of any purchase will be used (i)&nbsp;for any purpose that violates any applicable law, rule or regulation, including
Regulations T, U or X of the Federal Reserve Board or (ii)&nbsp;to acquire any security in any transaction which is subject to Section&nbsp;12, 13 or 14 of the Securities Exchange Act of 1934, as amended. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Seller.</U> Seller is a limited liability company, duly formed, validly existing and in good standing under the laws of the State of
Delaware and is duly qualified to do business, and is in good standing, in every jurisdiction where the nature of its business requires it to be so qualified except where the failure to be so qualified would not have a material adverse effect on the
ability of Seller to fulfill its obligations hereunder or on the validity or enforceability of, or the rights, remedies or benefits available to Purchaser under this Agreement. Seller is not subject to any Insolvency Event. Seller was formed on
January&nbsp;6, 2015 and Seller did not engage in any business activities prior to the date of this Agreement. Seller has no subsidiaries. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Servicer.</U> Servicer is a limited liability company, duly formed, validly existing and in good standing under the laws of the State
of Delaware and is duly qualified to do business, and is in good standing, in every jurisdiction where the nature of its business requires it to be so qualified except where the failure to be so qualified would not have a material adverse effect on
the ability of Servicer to fulfill its obligations hereunder or on the validity or enforceability of, or the rights, remedies or benefits available to Purchaser under this Agreement. Servicer is not subject to any Insolvency Event. In addition to
any specific representations and warranties made by the Servicer herein, in its capacity as such, Servicer hereby makes all of the representations and warranties contained in the Sale Agreement whether in its capacity as Originator or Servicer
thereunder, incorporated herein by reference and as if expressly set forth in this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>No Conflict, etc</U>. The execution, delivery and performance by Seller or Servicer (as
the case may be) of this Agreement, each Purchase Request and each other document to be delivered by Seller and Servicer hereunder, (i)&nbsp;are within its corporate or other organizational powers, (ii)&nbsp;have been duly authorized by all
necessary corporate or other organizational action, and (iii)&nbsp;do not contravene (A)&nbsp;its Organizational Documents, (B)&nbsp;any law, rule or regulation applicable to it, (C)&nbsp;any contractual restriction binding on or affecting it or its
property, or (D)&nbsp;any order, writ, judgment, award, injunction or decree binding on or affecting it or its property. The Agreement has been duly executed and delivered by Seller and Servicer. Each of Seller and Servicer have furnished to
Purchaser a true, correct and complete copy of its Organizational Documents, including all amendments thereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Authorizations;
Filings</U>. No authorization or approval or other action by, and no notice to or filing with, any governmental entity is required for the due execution, delivery and performance by Seller of this Agreement or any other document to be delivered
thereunder except for the filing of any Uniform Commercial Code financing statements as may be necessary to perfect the sale of Purchased Receivables pursuant to this Agreement and UCC-3 statements releasing existing liens on the Receivables. Other
than the Uniform Commercial Code financing statements to be released pursuant to the UCC-3s as aforementioned, no Uniform Commercial Code financing statement or other instrument similar in effect naming Seller as debtor or seller and covering any
Purchased Receivable is on file in any filing or recording office, except those filed in favor of Purchaser relating to this Agreement, and no competing notice of assignment or payment instruction or other notice inconsistent with the transactions
contemplated in this Agreement is in effect with respect to any Account Debtor. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Enforceability</U>. This Agreement constitutes the
legal, valid and binding obligation of Seller and Servicer, enforceable against Seller and Servicer, as applicable, in accordance with its terms, except as limited by bankruptcy, insolvency, moratorium, fraudulent conveyance or other laws relating
to the enforcement of creditors&#146; rights generally and general principles of equity (regardless of whether enforcement is sought at equity or law). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Litigation Matters</U>. There is no pending (or, to its knowledge, threatened) action, proceeding, investigation or injunction, writ or
restraining order affecting Seller or Servicer before any court, governmental entity or arbitrator which could reasonably be expected to result in a Material Adverse Change, and neither Seller nor Servicer is currently the subject of, and has no
present intention of taking any action to commence, an Insolvency Event applicable to Seller or Servicer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Material Adverse
Change</U>. There exists no event which has or is reasonably likely to result in a Material Adverse Change with respect to Seller, Servicer, Parent or the Ultimate Parent. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Change of Control.</U> No Change of Control has occurred. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Liens</U>. All Purchased Receivables are free and clear of any Adverse Claim in favor of the Internal Revenue Service, any employee
benefit plan, the PBGC or similar entity other than inchoate tax liens resulting from an assessment of Seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Review</U>. Each of
Seller and Servicer has discussed and reviewed this Agreement with its accountant, independent auditors, tax advisors and counsel and neither Seller nor Servicer is relying upon oral representations or statements or advice from the Purchaser. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Investment Company Act</U>. Seller is not an &#147;investment company,&#148; or a company
&#147;controlled&#148; by an &#147;investment company&#148; within the meaning of the Investment Company Act of 1940, as amended. In determining that Seller is not a &#147;covered fund&#148;, Seller is entitled to rely on the exemption from the
definition of &#147;investment company&#148; set forth in Section&nbsp;3(c)(5) of the Investment Company Act, and may be able to rely on other exemptions or exclusions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>[Intentionally Omitted]</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) <U>Tax Matters.</U> Seller has filed all material tax returns and reports required by applicable law to have been filed by it and has paid
all material taxes, assessments and governmental charges thereby shown to be owing by it, other than any such taxes, assessments or charges that are being contested in good faith by appropriate proceedings and for which appropriate reserves have
been established. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) <U>Accuracy of Information</U>. All information, exhibits, financial statements, documents, books, records or other
reports furnished or to be furnished at any time by or on behalf of Seller or the Servicer to Purchaser in connection with the Agreement or any other Transaction Document is or will be complete and accurate in all material respects as of its date or
as of the date so furnished and, to the extent materially related to the information then being provided, does not and will not omit to state a fact necessary in order to make the information contained therein with respect to the transactions
contemplated by this Agreement, in light of the circumstances under which they were made, not misleading (it being understood that such information may not contain all of the information or disclosure which would be required for inclusion in a
registration statement for debt or equity securities issued by Seller). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) <U>UCC Matters</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) Seller&#146;s &#147;location&#148; as such term is defined in the applicable UCC is its jurisdiction of organization specified in the
preamble to this Agreement, and the address or addresses at which it keeps its records concerning the Proposed Receivables is as set forth herein or otherwise identified to the Purchaser in writing. Such Person&#146;s Federal Employee Identification
Number is in the case of Seller, 52-2139172. Purchaser has &#147;control&#148; (as defined in &#167; 9-104 of the UCC) over the Collection Account. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Seller&#146;s complete corporate name is set forth in this Agreement, and it does not use and has not during the last five years used
any other corporate name, trade name, doing-business name or fictitious name, except for names set forth in a written notice delivered to Purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) <U>Money Laundering and Anti-Terrorism Laws; Etc</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) Neither Seller nor any Affiliate of Seller nor, to the knowledge of Seller, any Account Debtor (i)&nbsp;is (A)&nbsp;is, or is owned or
controlled by, a Sanctioned Person; (B)&nbsp;is located, incorporated, organized, or resident in a Sanctioned Country; (C)&nbsp;has any business affiliation or commercial dealings with, or investments in, any Sanctioned Country or Sanctioned Person;
or (D)&nbsp;is in breach of or is the subject of any action or investigation under any Sanctions Laws or Anti-Money Laundering Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Seller and its Affiliates, and to the knowledge of Seller, each Account Debtor and each Affiliate of such Account Debtor (A)&nbsp;are in
compliance with Sanction Laws, the Trading with the Enemy Act, and each of the foreign assets control regulations of the United States Treasury </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Department (31 CFR, Subtitle B Chapter V, as amended) and any other enabling legislation or executive order relating thereto, the anti-money laundering and bank secrecy provisions of the Patriot
Act, and other federal or state laws relating to &#147;know your customer&#148; and anti-money laundering rules and regulations and (B)&nbsp;have taken appropriate steps to implement policies and procedures reasonably designed to provide that there
will be no payments to any government official or employee, political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage in violation
of the U.S. Foreign Corrupt Practices Act of 1977. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. <B>COVENANTS</B>. Until the later of the Purchase Termination Date and the last
Invoice Due Date (subject to any provisions hereof which by their express terms survive termination), Seller (and, to the extent specifically applicable to the Servicer below, the Servicer) agrees to perform the covenants set forth below solely as
to itself only: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Notice of Disputes, Breaches of Contract, Account Debtor Insolvency Events, Etc.</U> Seller shall deliver to
Purchaser a reasonably detailed written notice to Purchaser promptly and in any event within two (2)&nbsp;Business Days after becoming aware or receiving notice of (i)&nbsp;any Dispute asserted or threatened in respect of a Purchased Receivable,
(ii)&nbsp;any breach by the applicable Account Debtor of the Contract which might give rise to such Account Debtor failing to pay any invoice amount or give rise to any Dispute, (iii)&nbsp;any Account Debtor Insolvency Event occurring or with
respect to which Seller has received actual knowledge or notice that reasonably lead it to believe that such an Account Debtor Insolvency Event is reasonably likely to occur, or (iv)&nbsp;it becoming illegal for an Account Debtor to pay all or any
part of the invoice amount because of the imposition of any prohibition or restriction on such payments. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Contracts; Purchased
Receivables</U>. Seller, at its expense, shall timely and fully perform in all material respects with all terms, covenants and other provisions, if any, required to be performed by it under the Contracts related to the Purchased Receivables. The
Servicer shall enforce the Purchaser&#146;s rights against each applicable Account Debtor under the Contracts related to the Purchased Receivables. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Perfection</U>. Each of Seller and Servicer shall at all times take all action necessary or desirable to maintain in full force and
effect the security interests created under this Agreement free and clear of any Adverse Claim created or caused by or arising through or under Seller, Servicer or any of their Affiliates, or as a result of any act or omission of any such party.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Existence</U>. Seller will (i)&nbsp;comply in all material respects with all applicable laws, rules, regulations and orders and
(ii)&nbsp;preserve and maintain its organizational existence, rights, franchises, qualifications, and privileges. Seller will keep its state of organization as the State of Delaware and principal place of business and chief executive office and the
office where it keeps its records concerning the Purchased Receivables at the address set forth in <U>Section&nbsp;12</U> hereof or, in each case, upon ten (10)&nbsp;Business Days&#146; prior written notice to Purchaser, at any other locations in
jurisdictions where all actions reasonably requested by Seller or otherwise necessary to protect, perfect and maintain Purchaser&#146;s interest in the Purchased Receivables have been taken and completed. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Books and Records</U>. Seller will maintain accurate books and accounts with respect to the Purchased Receivables and shall make a
notation on its books and records, including any computer files, to indicate which Receivables have been sold to Purchaser. Seller shall maintain and implement administrative and operating procedures (including, without limitation, an ability to
recreate records evidencing Purchased Receivables and related Contracts in the event of the destruction of the originals thereof), and keep and maintain all documents, books, records and other information reasonably necessary or advisable for
collecting all Purchased Receivables (including, without limitation, records adequate to permit the daily identification of each Purchased Receivable and all Collections of and adjustments to each existing Purchased Receivable). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Sales, Liens and Debt</U>. Seller will not sell, assign or otherwise dispose of, or cause
or create or suffer to exist any lien, encumbrance or security interest, as a result of any act or omission of Seller, upon or with respect to, the Purchased Receivables or upon or with respect to any deposit or other account to which any
Collections of any Purchased Receivable are sent, or assign any right to receive income in respect thereof except the interests in favor of Purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>Extension or Amendment of Purchased Receivables</U>. Seller will not amend or extend the payment terms under any Purchased Receivables,
unless approved in advance in writing by Purchaser, and shall not otherwise waive or permit or agree to any deviation from the terms or conditions of any Purchased Receivable without the prior written consent of Purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(h) <U>Audits and Visits</U>. Seller will, at any time and from time to time during regular business hours as requested by Purchaser, permit
Purchaser, or its agents or representatives, upon reasonable notice, (i)&nbsp;on a confidential basis, to examine and make copies of and abstracts from all books, records and documents (including, without limitation, computer tapes and disks) in its
possession or under its control relating to Purchased Receivables owed by Account Debtor including, without limitation, the related Contracts, and (ii)&nbsp;to visit its offices and properties for the purpose of examining and auditing such materials
described in clause&nbsp;(i) above, and to discuss matters relating to Purchased Receivables owed by Account Debtor or Seller&#146;s performance hereunder or under the related Contracts with any of its officers or employees having knowledge of such
matters (hereinafter, an &#147;<U>Audit</U>&#148;), <U>provided</U> that, unless a breach or default of Seller&#146;s or Servicer&#146;s obligations hereunder occurs and is continuing, only two such Audits in any calendar year shall be at
Seller&#146;s expense. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(i) <U>Accounting Treatment.</U> Seller will make all disclosures required by applicable law or regulation with
respect to the sale of the Proposed Receivables to Purchaser and account for such sale in accordance with International Financial Reporting Standards then in effect. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(j) <U>Notice.</U> Seller will promptly notify Purchaser of any circumstance in connection with a Proposed Receivable that may relate to money
laundering, terrorist financing, bribery, corruption, tax evasion or Sanctions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(k) <U>Further Assurances</U>. Seller will, at its
expense, promptly execute and deliver all further instruments and documents, and take all further action that Purchaser may reasonably request, from time to time, in order to perfect, protect or more fully evidence the full and complete ownership of
Purchaser of the Purchased Receivables, or to enable Purchaser to exercise or enforce the rights of Purchaser hereunder or under the Purchased Receivables. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(l) <U>Taxes</U>. Seller will pay any and all taxes (excluding any Excluded Taxes) relating to the transfer of the Purchased Receivables to
Purchaser; except for those taxes that Seller is contesting in good faith and for which adequate reserves have been taken. Seller shall treat each sale of Purchased Receivables hereunder as a sale for federal and state income tax, reporting and
accounting purposes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(m) <U>Not Adversely Affect Purchaser&#146;s Rights</U>. Seller will refrain from any act or omission which it
reasonably believes might in any way prejudice or limit Purchaser&#146;s rights under any of the Purchased Receivables pursuant to this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(n) <U>Nature of Business</U>. Seller will not engage in any business or engage in any transactions other than the purchase of Receivables
from Wise Alloys LLC and the transactions </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
contemplated by this Agreement and the Transaction Documents. Seller will not create or form any subsidiary and will not make any loans to, advances to, investments in or otherwise acquire any
capital stock or equity security of, or any equity interest in, any other Person. Seller shall not create, incur, guarantee, assume or suffer to exist any indebtedness or other liabilities, whether direct or contingent, other than (i)&nbsp;as a
result of the endorsement of negotiable instruments for deposit or collection or similar transactions in the ordinary course of business and (ii)&nbsp;the incurrence of obligations under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(o) <U>No Change in Business or Credit and Collection Policy</U>. Neither Seller nor Servicer shall make any change in the character of its
business or in the credit and collection policy, which change would, in either case, impair the collectability of any Purchased Receivable or otherwise have a Material Adverse Change with respect to Seller or Servicer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(p) <U>Mergers, Etc.</U> Seller will not merge with or into or consolidate with or into, or convey, transfer, lease or otherwise dispose of
(whether in one transaction or in a series of transactions), all or substantially all of its assets (whether now owned or hereafter acquired) to, or acquire all or substantially all of the assets or capital stock or other ownership interest of, or
enter into any joint venture or partnership agreement with, any Person, other than as contemplated by this Agreement and the Transaction Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(q) <U>Separate Existence.</U> Seller and Servicer hereby acknowledge that Purchaser is entering into the transactions contemplated by this
Agreement and in reliance upon Seller&#146;s identity as a legal entity separate from Servicer and its respective Affiliates. Therefore, from and after the date hereof, each of Seller and Servicer shall take all steps specifically required by the
Agreement or reasonably required to continue Seller&#146;s identity as a separate legal entity and to make it apparent to third Persons that Seller is an entity with assets and liabilities distinct from those of Servicer and any other Person.
Without limiting the generality of the foregoing and in addition to and consistent with the other covenants set forth herein, each of Seller and Servicer shall take such actions as shall be required in order that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) Seller will be a limited purpose company whose primary activities are restricted in its organizational documents to: (i)&nbsp;purchasing
or otherwise acquiring, owning, holding, granting security interests or selling interests in Receivables, (ii)&nbsp;entering into agreements for the selling and servicing of the Receivables, and (iii)&nbsp;conducting such other activities as it
deems necessary or appropriate to carry out its primary activities; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Not less than one member of Seller&#146;s Board of Directors
(the &#147;<U>Independent Director</U>&#148;) shall be an individual who is not a direct, indirect or beneficial stockholder, officer, director, employee, affiliate, associate or supplier of Servicer or any of its Affiliates and is otherwise
independent of Servicer and its Affiliates to the satisfaction of Purchaser; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) Any employee, consultant or agent of Seller will be
compensated from Seller&#146;s funds for services provided to Seller; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) To the extent, if any, that Seller (or any Affiliate thereof)
shares items of expenses not reflected in the servicing fee, such as legal, auditing and other professional services, such expenses will be allocated to the extent practical on the basis of actual use or the value of services rendered, and otherwise
on a basis reasonably related to the actual use or the value of services rendered; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) All of Seller&#146;s business correspondence and
other communications shall be conducted in Seller&#146;s own name and on its own separate stationery; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi) Seller&#146;s books and records will be maintained separately from those of Servicer and
any other Affiliate thereof; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vii) All financial statements of the Ultimate Parent, Servicer or any Affiliate thereof that are
consolidated to include Seller will contain detailed notes clearly stating that: (i)&nbsp;a special purpose company exists as a subsidiary of Servicer, and (ii)&nbsp;Wise Alloys LLC has sold receivables and other related assets to such special
purpose subsidiary that, in turn, has sold such receivables to certain financial institutions and other entities; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(viii) Seller will
strictly observe corporate formalities in its dealings with Servicer or any Affiliate thereof, and funds or other assets of Seller will not be commingled with those of the Originator, Servicer or any Affiliate thereof except as permitted by the
Agreement in connection with servicing the Purchased Receivables. Seller shall not maintain joint bank accounts or other depository accounts to which Servicer or any Affiliate thereof (other than Servicer in its capacity as Servicer) has independent
access. Seller is not named, and has not entered into any agreement to be named, directly or indirectly, as a direct or contingent beneficiary or loss payee on any insurance policy with respect to any loss relating to the property of Servicer or
Affiliate thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(r) <U>Change in Credit and Collection Policy</U>. The Seller shall not make (or permit the Originator or Servicer to
make) any material change in any Credit and Collection Policy, or any change in any Credit and Collection Policy that would adversely affect the collectibility of the Purchased Receivables or the enforceability of any related Contract or the ability
of the Seller or Servicer to perform its obligations under any related Contract or under this Agreement or any Transaction Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.
<B>TERMINATION EVENTS</B> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">If any Termination Event shall occur, Purchaser may, by notice to Seller, declare the Purchase Termination Date
to have occurred and that it shall have no further obligation to purchase any Receivables hereunder; <U>provided</U> that if any of the Termination Events described in <U>paragraph (e)</U>&nbsp;of the definition thereof shall occur, then the
obligation of the Purchaser to make purchases hereunder shall cease automatically upon the occurrence of such event, without notice of any kind. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Whether or not the expressed intent of the parties that the transfers hereunder constitute sales, is respected or recharacterized, the
Purchaser shall have, with respect to the Purchased Receivables, Related Rights and all other Sold Assets, and in addition to all the other rights and remedies available to Purchaser hereunder and under the Transaction Documents (whether prior to or
following any Termination Event), all the rights and remedies of a secured party under any applicable UCC. In connection with any exercise of remedies by Purchaser hereunder following the occurrence of a Termination Event that has not been cured or
waived in accordance with this Agreement, Seller agrees that ten (10)&nbsp;Business Days shall be reasonable prior notice to Seller of the date of any public or private sale or other disposition of all or any of the Purchased Receivables and other
Sold Assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. <B>SERVICING; COLLECTION ACTIVITIES; ETC.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Servicing</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)
<U>Appointment of Servicer</U>. Purchaser appoints Wise Alloys LLC as its servicer and agent (in such capacity, the &#147;<U>Servicer</U>&#148;) for the administration and servicing of all Purchased Receivables sold to Purchaser hereunder, and
Servicer hereby accepts such appointment and agrees to assume the duties and the administration and servicing obligations as Servicer, and perform all necessary and appropriate commercial collection activities in arranging the timely payment of
amounts due and </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
owing by any Account Debtor all in accordance with applicable laws, rules and regulations, with reasonable care and diligence, including, without limitation, diligently and faithfully performing
all servicing and collection actions (including, if necessary, acting as party of record in foreign jurisdictions). The Servicer shall also maintain and update the schedule of Receivables listing those Receivables purchased from time to time by the
Purchaser under this Agreement. Such appointment as Servicer shall not release Seller from any of its other duties to comply with any other terms, covenants and provisions of this Agreement. In connection with its servicing obligations, Servicer
will, and will ensure that Seller will, perform their respective obligations and exercise and enforce their respective rights and remedies under the contracts and other agreements related to the Purchased Receivables (the
&#147;<U>Contracts</U>&#148;) with the same care and applying the same policies as they apply to their own Receivables generally and would exercise and apply if they owned the Purchased Receivables and shall use commercially reasonable efforts in
connection with such activities and standards to maximize Collections. In consideration for its activities as Servicer, on the date of the first purchase hereunder, and on each one-year anniversary of this Agreement (or if such one-year anniversary
is not a Business Day, the next succeeding Business Day), the Buyer shall, so long as this Agreement remains in effect at such time and so long as Wise Alloys LLC has not been terminated or replaced on or prior to such date, pay to the Servicer, a
servicing fee (each such annual payment, a &#147;<U>Servicing Fee</U>&#148;) in cash in immediately available funds, in an amount, in the case of each such annual Servicing Fee, equal to $20,000. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Replacement of Servicer</U>. Upon the earlier to occur of (i)&nbsp;Servicer defaulting in its obligations set forth under this
<U>Section&nbsp;6</U>, (ii)&nbsp;an Insolvency Event with respect to Servicer, (iii)&nbsp;a Material Adverse Change in Seller or Servicer, (iv)&nbsp;a Termination Event or (v)&nbsp;a breach of the representations and warranties in any material
respect by Seller or Servicer under this Agreement, Purchaser may at any time thereafter (but only with respect to <U>clauses&nbsp;(i)</U> and <U>(iv)</U>&nbsp;if within 10 days after knowledge of Seller or Servicer or notice from Purchaser to
Seller and Servicer, Servicer fails to cure such default or breach in all material respects and in all other cases without requirement of notice to Servicer, Seller or any other Person) replace Servicer (which replacement may be made through the
outplacement to a Person of all back office duties, including billing, collection and processing responsibilities, and access to all personnel, hardware and software utilized in connection with such responsibilities). Servicer shall reimburse
Purchaser for all expenses reasonably incurred by Purchaser in connection with such replacement; provided that in no event shall Servicer be liable for any servicing compensation paid or payable to such replacement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>Collections</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)
<U>Establishment of Account(s)</U>. Seller has established the Collection Account to receive amounts owing under the Purchased Receivables and covenants to maintain such account so long as any Purchased Receivable remains unpaid unless otherwise
agreed to in writing by Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Collections</U>. Servicer covenants (i)&nbsp;Servicer shall direct each Account Debtor to
wire or transmit by ACH transfer Collections directly to the Collections Account and shall take such commercially reasonable actions as may be reasonably requested by Purchaser to ensure that each Account Debtor complies with such direction and
(ii)&nbsp;not to change the payment instructions while any Purchased Receivable remains outstanding. If Seller inadvertently receives any Collections, it shall cause such Collections to be delivered to and deposited into the Collection Account
within one (1)&nbsp;Business Day of receipt. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) <U>Receipt of Collections</U>. No Collections shall be deemed received by Purchaser
for purposes of this Agreement until funds are credited to the Collection Account as immediately available funds or otherwise actually received by Purchaser. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) <U>Funds Held in Trust</U>. Prior to being deposited in the Collection Account, funds
received by Seller or Servicer in respect of any Purchased Receivables shall be deemed to be the exclusive property of Purchaser, and Seller and Servicer each shall be deemed to be holding such funds in trust for the exclusive use and benefit of
Purchaser. Neither Servicer nor any Seller shall, directly or indirectly, utilize such funds for its own purposes, and shall not have any right to pledge such funds as collateral for any obligations of Servicer or Seller or any other Person. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Payment Reconciliation</U>. Pursuant to its servicing obligations under this <U>Section&nbsp;6</U> hereof, Servicer shall be
responsible for identifying, matching and reconciling any payments, including those related to any Dilution of the Receivable, deposited in the Collection Account with the Purchased Receivable associated with such payment. Servicer shall provide to
Purchaser, substantially in the form set forth in <U>Exhibit D</U> and substance satisfactory to Purchaser, a full reconciliation (&#147;<U>Payment Reconciliation</U>&#148;) of all such payments deposited in the Collection Account, together with the
DSO values of all Collections deposited in the Collection Account and adjustments (including Dilutions amounts, if any, with respect to the Purchased Receivables), concurrently with the transfer to the Collection Account of all Collections in
respect of the Purchased Receivables and from time to time upon the request of Purchaser. In accordance with the provisions of the Intercreditor Agreement, if at any time any payment is delivered to or identified in the Collection Account that does
not constitute a Collection with respect to any Purchased Receivable, following receipt by Purchaser of evidence of payment details documenting that the payment is for Receivables not constituting Purchased Receivables which shall be done no less
frequently than weekly, such funds will be forwarded to an account specified by the Seller. In accordance with the provisions of the Intercreditor Agreement, if any payment is received from an Account Debtor, and such payment is not identified by
such Account Debtor as relating to a particular Receivable and cannot otherwise be reasonably identified in accordance with the Payment Reconciliation as relating to a particular Receivable within fifteen (15)&nbsp;Business Days of receipt thereof,
such payment shall be applied first to the unpaid Receivables with respect to such Account Debtor that are not subject to any dispute with such Account Debtor in chronological order based on the related scheduled payment dates (beginning with the
unpaid Receivable with the oldest scheduled payment date). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Rights of Purchaser; Notices to Account Debtors</U>. Purchaser shall
have all rights as holder and owner in respect of the Purchased Receivables, including, subject to <U>Section&nbsp;6(a)(ii)</U> (with respect to the replacement of the Servicer), the right to exercise any and all of its rights and remedies
hereunder, under applicable law (including, the UCC) or at equity to collect any Purchased Receivables directly from the applicable Account Debtor. In furtherance of the foregoing, without limiting the generality thereof, Purchaser may, in its sole
discretion, upon the occurrence and continuation of (i)&nbsp;a Termination Event, (ii)&nbsp;any other event which would permit Purchaser to replace Servicer (but prior to the expiration of, and without the need to take into account any grace or cure
period as may be provided for prior to such replacement pursuant to <U>Section&nbsp;6(a)(ii)</U>) or (iii)&nbsp;any late payment with respect to any Purchased Receivable, to the extent that such late payment has not yet been determined to be the
result of a Repurchase Event for which the Seller has paid or is required to pay the Repurchase Price therefor (or portion thereof subject to a Dispute or Dilution), notify or otherwise indicate to any Account Debtor that Seller has sold the
applicable Purchased Receivable to Purchaser hereunder, and may direct such Account Debtor to make payments with respect to such Purchased Receivable directly to the Collection Account (or as otherwise directed by Purchaser). Notwithstanding the
foregoing, solely in the case of <U>clause (iii)</U>&nbsp;above, so long as Seller and Servicer are in material compliance with all terms, covenants and provisions in this Agreement applicable to Seller and Servicer, and no event described in
<U>clauses (i)</U>&nbsp;or <U>(ii)</U>&nbsp;has occurred and is continuing at such time, upon the occurrence of any payment default by an Account Debtor in payment of the Purchased Receivable (which is not the subject of a Dispute or Dilution),
prior to the Purchaser&#146;s right (as described above) to directly contact and direct the applicable Account Debtor, Servicer shall consult with Purchaser with regard to such default and on the course of action the Servicer plans to adopt in light
thereof. If Servicer has not resolved the cause of such payment default (as a </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Dilution, Dispute, Account Debtor Insolvency or otherwise) within 15 days of the original due date for such payment, then Purchaser shall at such time, without further notice to or consultation
with the Seller or Servicer, have all right to notify, contact, instruct and direct the applicable Account Debtor as describe in the prior sentences of this paragraph above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Reporting Requirements</U>. Servicer shall provide or make available (by access to a website, Intralinks or otherwise); to Purchaser
the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) as soon as available and in any event within 60 days after the end of the first three quarters of each fiscal year of
the Ultimate Parent, consolidated and consolidating balance sheets of the Ultimate Parent and its consolidated subsidiaries as of the end of such quarter and statements of income, retained earnings and cash flow of the Ultimate Parent and its
consolidated subsidiaries for the period commencing at the end of the previous fiscal year and ending with the end of such quarter, certified by the chief financial officer of such Person; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) as soon as available and in any event within 120 days after the end of each fiscal year of the Ultimate Parent, a copy of the annual
report for such year for such Person and its consolidated subsidiaries, containing unqualified consolidated and consolidating financial statements for such year audited by independent certified public accountants of nationally recognized standing;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) on the fifth (5<SUP STYLE="font-size:85%; vertical-align:top">th</SUP>)&nbsp;Business Day of each calendar month, aging, past due
and performance reports (the &#147;<U>Servicer Report</U>&#148;) relating to all Purchased Receivables, together with such other data (including all calculations of the ratios described herein), reports and information relating to the Purchased
Receivables of each Account Debtor reasonably requested by Purchaser from time to time (including, without limitation, proof reasonably satisfactory to Purchaser that Originator has delivered to the applicable Account Debtor all property or
performed all services required to be so delivered or performed by the terms of the Contract giving rise to the Purchased Receivables) in each case, in a format reasonably acceptable to the Purchaser and the Servicer; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) as to each of Seller and Servicer, as soon as possible and in any event within two Business Days after becoming aware of the occurrence
of each Termination Event or Unmatured Termination Event, a statement of the chief financial officer of such Person setting forth details of such Termination Event or Unmatured Termination Event and the action that such Person has taken and proposes
to take with respect thereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) as soon as possible and in any event within two (2)&nbsp;Business Days (in the case of <U>clause
(A)</U>&nbsp;below) and three (3)&nbsp;Business Days (in the case of <U>clause (B)</U>&nbsp;below) after becoming aware of the occurrence thereof, written notice of (A)&nbsp;any non-payment of amounts due with respect to any Purchased Receivable or
(B)&nbsp;any matter that could reasonably be expected to result in a Material Adverse Change; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(vi) such other information respecting
the Receivables or the condition or operations, financial or otherwise, of Seller or Servicer as Purchaser may from time to time reasonably request. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7. <B>REPURCHASE EVENTS; INDEMNITIES AND SET-OFF.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) <U>Repurchase Events</U>. If any of the following events (&#147;<U>Event of Repurchase</U>&#148;) occurs and is continuing with respect to
any Purchased Receivable: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) Such Purchased Receivable, at the time of purchase, did not constitute an Eligible Receivable or was
subject to any Account Debtor Insolvency Event; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">15 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) any representation or warranty made by Seller under Section&nbsp;3(a) with respect to such
Purchased Receivable is incorrect when made and shall have a material adverse effect on the ability to collect the Net Invoice Amount of such Purchased Receivable; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) Seller or Servicer fails to perform or observe any term, covenant or provision with respect to such Purchased Receivable and such
failure shall have a material adverse effect on the ability to collect the Net Invoice Amount of such Purchased Receivable; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv) the
Account Debtor on such Purchased Receivable asserts a Dispute or Dilution has occurred with respect to such Purchased Receivable, excluding any Dispute or Dilution that (A)&nbsp;relates to the acts or omissions of the Purchaser which are (x)&nbsp;in
material violation of applicable law relating to such action or omission or (y)&nbsp;in material breach of its obligations hereunder, (B)&nbsp;does not relate to the acts or omissions of the Seller, the Servicer or any of their Affiliates,
(C)&nbsp;does not relate to the transfer of such Purchased Receivable from the Seller to the Purchaser and (D)&nbsp;does not relate to the goods or services that are the subject of such Purchased Receivable; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(v) Seller or Servicer instructs the Account Debtor on such Purchased Receivable to pay amounts owing in respect of such Purchased Receivable
to an account other than the Collection Account; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">then, Seller shall, within one (1)&nbsp;Business Day of demand therefor from Purchaser (such date, the
&#147;<U>Repurchase Date</U>&#148;), repurchase all (or any portion) of such Purchased Receivable then outstanding (or, if such Purchased Receivable is subject to Dispute or Dilution, the portion subject to the Dispute or Dilution, as the case may
be). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The repurchase price (the &#147;<U>Repurchase Price</U>&#148;) for such Purchased Receivable shall be the amount equal to the sum of (i)&nbsp;the
Net Invoice Amount relating to such Purchased Receivable less the aggregate amount of all Collections with respect to such Purchased Receivables deposited into the Collection Account, <I>plus</I> (ii)&nbsp;interest for the period from the
Anticipated Payment Date for such Purchased Receivable until the date the Repurchase Price has been repaid in full, at a rate equal to the Discount Rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding the foregoing, if any Purchased Receivable is subject to a Repurchase Event described above as a result of an event of Dilution which affects
or only applies with respect to a portion of such Receivable that is less than 10% of the Net Invoice Amount thereof, the Seller may, in its discretion, elect to satisfy its obligation under this <U>Section&nbsp;7</U> by rather that repurchasing
such Receivable and paying the Repurchase Price therefor, paying to the Purchaser on what would otherwise have been the Repurchase Date, an amount in cash equal to the entire amount which is the subject of such Dilution plus interest due thereon for
a period from the Anticipated Payment Date for such Purchased Receivable until the date the Seller pays such amount in full, at a rate equal to the Discount Rate at such time (such amount, the &#147;<U>Subject Payment Amount</U>&#148;). If the
Seller elects not to repurchase the entire Receivable but rather pay the Subject Payment Amount with respect thereto then each of the parties hereto hereby agrees that any such Receivable which remains the property of the Purchaser hereunder and
shall not be or be deemed to have been sold back to the Seller on the applicable Repurchase Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Repurchase Price or Subject Payment Amount, as
applicable, for a Purchased Receivable and all amounts due hereunder with respect to such Purchased Receivable shall be paid to the Collection Account in immediately available funds on the Repurchase Date. Upon the payment in full of the Repurchase
Price for a Purchased Receivable and all amounts due hereunder with respect to such Purchased </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">16 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Receivable, such Purchased Receivable shall be automatically and without further action sold by Purchaser to Seller without recourse to or warranty by Purchaser. Upon repurchase by Seller, Seller
shall have all right, title and interest in and to such repurchased Purchased Receivables. Seller agrees that Purchaser may set off in the manner set forth in <U>paragraph (f)</U>&nbsp;below against any unpaid obligation of Seller under this
<U>Section&nbsp;7(a)</U>. Amounts due hereunder shall accrue interest at the Discount Rate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) <U>General Indemnification</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) <U>Indemnities by Seller</U>. Seller hereby agrees to indemnify Purchaser (together with its officers, directors, agents,
representatives, shareholders, counsel and employees, each, an &#147;<U>Indemnified Party</U>&#148;) from and against any and all claims, losses and liabilities (including, without limitation, reasonable attorneys&#146; fees) (all of the foregoing
being collectively referred to as &#147;<U>Indemnified Amounts</U>&#148;) arising out of or resulting from any of the following: (i)&nbsp;the sale to Purchaser of any Receivable as to which the representations and warranties made herein are not true
and correct on the Purchase Date therefor; (ii)&nbsp;any representation or warranty made by Seller (or any of its respective officers) under or in connection with this Agreement (except with respect to the Purchased Receivables) which shall have
been incorrect in any material respect when made; (iii)&nbsp;the failure by Seller to comply with any applicable law, rule or regulation with respect to any Purchased Receivable; (iv)&nbsp;the failure to vest in Purchaser a perfected interest in
each Purchased Receivable and the proceeds and Collections in respect thereof free and clear of any liens or encumbrances of any kind or nature whatsoever (other than those granted under this Agreement); (v)&nbsp;any Dispute or any other claim
related to such Purchased Receivable (or any portion thereof) excluding any Dispute or claim that (A)&nbsp;relates to the acts or omissions of the Purchaser which are (x)&nbsp;in material violation of applicable law relating to such action or
omission or (y)&nbsp;in material breach of its obligations hereunder, (B)&nbsp;does not relate to the acts or omissions of the Seller, the Servicer or any of their Affiliates, (C)&nbsp;does not relate to the transfer of such Purchased Receivable
from the Seller to the Purchaser and (D)&nbsp;does not relate to the goods or services that are the subject of such Purchased Receivables; (vi)&nbsp;the commingling by Seller of Collections at any time with other funds of Seller or any other Person;
(vii)&nbsp;any products liability claim, personal injury or property damage suit, environmental liability claim or any other claim or action by a party of whatever sort, whether in tort, contract or any other legal theory, arising out of or in
connection with the goods or services that are the subject of any Purchased Receivable with respect thereto; (viii)&nbsp;this Agreement and the transactions contemplated hereby and the purchases of the Purchased Receivables by Purchaser pursuant to
the terms hereof, excluding any Dispute or claim that (A)&nbsp;relates to the acts or omissions of the Purchaser which are (x)&nbsp;in material violation of applicable law relating to such action or omission or (y)&nbsp;in material breach of its
obligations hereunder, (B)&nbsp;does not relate to the acts or omissions of the Seller, the Servicer or any of their Affiliates, (C)&nbsp;does not relate to the transfer of such Purchased Receivable from the Seller to the Purchaser and (D)&nbsp;does
not relate to the goods or services that are the subject of such Purchased Receivables; or (ix)&nbsp;any currency restrictions or foreign political restrictions or regulations that are in force with respect to any Purchased Receivables on the
applicable Purchase Date therefor (it being understood and agreed that if the Purchaser and/or any Purchased Receivables becomes (following the applicable Purchase Date therefor) subject to any such currency or political restriction matters which
are not subject to the indemnity or recovery of this <U>clause (ix)</U>&nbsp;as a result of coming into existence or effectiveness after such date of purchaser, Purchaser shall have the right, upon thirty (30)&nbsp;days prior written notice to the
Seller, to terminate this Agreement and its commitments hereunder and under the other Transaction Documents). The foregoing indemnification shall not apply in the case any claims, losses or liabilities to the extent resulting solely from
(i)&nbsp;the gross negligence or willful misconduct of an Indemnified Party as determined in a final non-appealable judgment by a court of competent jurisdiction, (ii)&nbsp;lack of credit worthiness of the related Account Debtor or an Account Debtor
Insolvency Event or (iii)&nbsp;(A) acts or omissions of the Purchaser which are (x)&nbsp;in material violation of applicable law relating to such action or omission or (y)&nbsp;in material breach of its obligations hereunder, (B)&nbsp;which do not
relate to the acts or omissions of the Seller, the Servicer or any of their Affiliates, (C) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">17 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
which do not relate to the transfer of such Purchased Receivable from the Seller to the Purchaser and (D)&nbsp;which do not relate to the goods or services that are the subject of such Purchased
Receivables. Amounts due hereunder shall accrue interest at the Delinquent Rate. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) <U>Indemnities by Servicer</U>. Servicer hereby
agrees to indemnify Purchaser (together with its officers, directors, agents, representatives, shareholders, counsel and employees, each, an &#147;<U>Indemnified Party</U>&#148;) from and against any and all claims, losses and liabilities
(including, without limitation, reasonable attorneys&#146; fees) (all of the foregoing being collectively referred to as &#147;<U>Indemnified Amounts</U>&#148;) arising out of or resulting from any of the following: (i)&nbsp;any representation or
warranty made by Servicer (or any of its respective officers) under or in connection with this Agreement (except with respect to the Purchased Receivables) which shall have been incorrect in any material respect when made; (ii)&nbsp;the failure by
Servicer to comply with any applicable law, rule or regulation with respect to any Purchased Receivable; (iii)&nbsp;any failure by Servicer to perform its duties or obligations as Servicer hereunder in accordance with this Agreement or any claim
brought by any Person other than an Indemnified Party arising from Servicer&#146;s collection activities; or (iv)&nbsp;the commingling by the Servicer of Collections at any time with other funds of the Servicer or any other Person. The foregoing
indemnification shall not apply in the case any claims, losses or liabilities to the extent resulting solely from (i)&nbsp;the gross negligence or willful misconduct of an Indemnified Party as determined in a final non-appealable judgment by a court
of competent jurisdiction, (ii)&nbsp;lack of credit worthiness of the related Account Debtor or an Account Debtor Insolvency Event or (iii)&nbsp;(x)&nbsp;enforcement or similar actions of the Purchaser with respect to a related Purchased Receivable
as against the Account Debtor and which (as determined in a final non appealable judgment by a court of competent jurisdiction) are in material violation of applicable law relating to such action or (y)&nbsp;a Dispute or Dilution by the Account
Debtor not as a result of anything relating to the product or service provided to such Account Debtor by the Originator, Seller or Servicer, but solely as a result of a separate and distinct transaction or agreement between the Account Debtor and
the Purchaser and not in any way related to this Agreement or the transactions contemplated hereby. Amounts due hereunder shall accrue interest at the Delinquent Rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) <U>Tax Indemnification</U>. All payments on the Purchased Receivables from the Account Debtors will be made free and clear of any present
or future taxes, withholdings or other deductions whatsoever. Seller will indemnify Purchaser for any such taxes, withholdings or deductions other than Excluded Taxes as well as any stamp duty or any similar tax or duty on documents or the transfer
of title to property arising in the context of this Agreement which has not been paid by Seller. Further, Seller shall pay, and indemnify and hold Purchaser harmless from and against, any taxes other than Excluded Taxes that may at any time be
asserted in respect of the Purchased Receivables hereunder (including any sales, occupational, excise, gross receipts, personal property, privilege or license taxes, or withholdings, but not including taxes imposed upon Purchaser with respect to its
overall net income) and costs, expenses and reasonable counsel fees in defending against the same, whether arising by reason of the acts to be performed by Seller hereunder or otherwise. Amounts due hereunder shall accrue interest at the Delinquent
Rate. Notwithstanding the foregoing, the indemnities described herein with respect to tax matters, shall only apply with respect to applicable laws, rules and regulations relating thereto which are in existence on the applicable Purchase Date for
any Purchased Receivables hereunder and shall not apply in the case of any changes to such laws rules or regulations following such Purchase Date; it being understood and agreed that if the Purchaser and/or any Purchased Receivables becomes
(following the applicable Purchase Date therefor) subject to any such tax matters which are not subject to the indemnity or recovery of this <U>paragraph (c)</U>&nbsp;due to this sentence, Purchaser shall have the right, upon thirty (30)&nbsp;days
prior written notice to the Seller, to terminate this Agreement and its commitments hereunder and under the other Transaction Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) <U>Increased Costs</U>. If Purchaser shall determine that any Regulatory Change regarding capital or liquidity requirements has or would
have the effect of reducing the rate of return on </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">18 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Purchaser&#146;s capital or assets or increasing its amount of required liquidity as a consequence of (i)&nbsp;this Agreement, (ii)&nbsp;any of Purchaser&#146;s obligations under this Agreement
or (iii)&nbsp;Purchaser&#146;s purchase or the ownership, maintenance or funding of any Purchased Receivables hereunder, to a level below that which Purchaser would have achieved but for such Regulatory Change (taking into consideration
Purchaser&#146;s policies with respect to capital adequacy), then (A)&nbsp;if such Regulatory Change relates to the commitment of the Purchaser hereunder, but does not relate to the purchase and subsequent ownership of Purchased Receivables, then
the Purchaser may by notice to Seller setting forth in reasonable detail the basis therefor, adjust the Commitment Fee and/or provide a separate written demand for payment to reflect such increased cost with respect to the Purchaser&#146;s
commitment to make purchases hereunder, which adjustments to the fees or amounts payable in respect of the commitment hereunder, in each case, shall be effective and payable by the Seller within five (5)&nbsp;days after the giving of such notice, it
being understood that if such Regulatory Change has retroactive application to the commitment hereunder, such retroactive increase shall be payable by the Seller in accordance with the terms of this paragraph, and (B)&nbsp;if such Regulatory Change
relates to the purchase and subsequent ownership of Purchased Receivables, then Purchaser shall have the right to by notice to Seller setting forth in reasonable detail the basis therefor, (x)&nbsp;for the purpose of future purchases hereunder
adjust the Discount Rate to reflect such increased cost with respect to such future purchases (but not with respect to any prior purchases), which adjustments to the Discount Rate shall apply solely to purchases occurring at least five (5)&nbsp;days
after the giving of such notice, and (y)&nbsp;to the extent it is not practical to so adjust the Discount Rate pursuant to clause (x)&nbsp;prior to the applicable Purchase Date, promptly after the applicable Purchase Date provide the Seller with a
written demand for payment to reflect the increased costs with respect to Regulatory Changes that were in existence on the applicable Purchase Date for any Purchased Receivables hereunder but for which the Discount Rate was not adjusted as described
in clause (x), which such increased costs shall be effective and payable by the Seller within five (5)&nbsp;days after the giving of such notice. Except as provided in clause (y)&nbsp;of the foregoing sentence, and notwithstanding any other
provision, under no circumstances shall the purchase price of a Purchased Receivable be altered after the Purchase Date therefor as a result of a Regulatory Change. In addition to foregoing, if any Purchased Receivables or the existing of the
commitment hereunder becomes the subject of a Regulatory Change regarding capital or liquidity requirements that has or would have the effect of reducing the rate of return on Purchaser&#146;s capital or assets or increasing its amount of required
liquidity as a consequence of (i)&nbsp;this Agreement, (ii)&nbsp;any of Purchaser&#146;s obligations under this Agreement or (iii)&nbsp;Purchaser&#146;s purchase or the ownership, maintenance or funding of any Purchased Receivables hereunder, to a
level below that which Purchaser would have achieved but for such Regulatory Change (taking into consideration Purchaser&#146;s policies with respect to capital adequacy) that is not covered by clauses (A)&nbsp;or (B)&nbsp;of this paragraph, then
the Purchaser shall have the right upon thirty (30)&nbsp;days prior written notice to the Seller, to terminate this Agreement and its commitments hereunder and under the other Transaction Documents. Any amount owing pursuant to this section shall be
paid to Purchaser in immediately available funds. A certificate as to such amounts submitted to Seller by Purchaser shall be conclusive and binding for all purposes as to the calculations therein, absent manifest error. Upon receipt of notice from
Purchaser of any such increased cost or adjustment to the Commitment Fee or the Discount Rate, Seller shall have the right, at any time after payment to the Purchaser of amounts, if any, due pursuant to clause (A)&nbsp;of this paragraph, and upon
five (5)&nbsp;days prior written notice to the Purchaser, to terminate this Agreement and all commitments and obligations hereunder except insofar as such obligations relate to Purchased Receivables sold on or prior to the date of notice of
termination or otherwise expressly survive termination hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) <U>Regulatory Indemnity</U><I>. </I>Seller will indemnify Purchaser
for all losses, costs, damages, claims, actions, suits, demands and liabilities (together, the &#147;<U>Losses</U>&#148;) suffered or incurred by or brought against Purchaser arising out of or relating to any Compliance Action (as defined in
<U>Section&nbsp;15(e)(ii)</U> below), unless such Losses are caused by (i)&nbsp;the gross negligence or intentional misconduct of Purchaser or (ii)&nbsp;(A)&nbsp;relate to the acts or omissions of the Purchaser which are (x)&nbsp;in material
violation of applicable law relating to such action or omission or (y)&nbsp;in material breach of its </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">19 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
obligations hereunder, (B)&nbsp;do not relate to the acts or omissions of the Seller, the Servicer or any of their Affiliates, (C)&nbsp;do not relate to the transfer of such Purchased Receivable
from the Seller to the Purchaser and (D)&nbsp;do not relate to the goods or services that are the subject of such Purchased Receivables. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f) <U>Set-Off</U>. Seller further agrees that, unless Seller notifies Purchaser in writing that it desires to pay on the date when due any
amounts due under this <U>paragraph (f)</U>&nbsp;and Seller makes such payment to Purchaser in immediately available funds on the date that such payment is due, Seller hereby irrevocably authorizes Purchaser, without further notice to Seller, to
set-off such amount against the Purchase Price of any Proposed Receivables to be purchased on or after such due date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g) <U>UCC</U>. The
rights granted to Purchaser hereunder are in addition to all other rights and remedies afforded to Purchaser as a buyer under the UCC or other applicable law. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8. <B>RETAINED OBLIGATIONS.</B> Purchaser shall have no responsibility for, or have any liability with respect to, the performance of any
Contract, and neither shall Purchaser shall have any obligation to intervene in any commercial dispute arising out of the performance of any Contract. All obligations of Seller under each Contract, including all representations and warranty
obligations, all servicing obligations, all maintenance obligations, and all delivery, transport and insurance obligations, shall be retained by Seller (the &#147;<U>Retained Obligations</U>&#148;). Neither any claim that Seller may have against any
Account Debtor or any other Person, nor the failure of an Account Debtor to fulfill its obligations under the applicable Contracts, shall affect the obligations of Seller and Seller as Servicer to perform its obligations hereunder, and none of such
events or circumstances shall be used as a defense or as set-off, counterclaim or cross-complaint as against the performance or payment of any of Seller&#146;s or Servicer&#146;s obligations hereunder. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9. <B>COSTS AND EXPENSES; DELINQUENT RATE.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) Seller shall reimburse Purchaser for all reasonable costs (including reasonable attorneys&#146; fees and expenses) that Purchaser incurs
in connection with the preparation and negotiation of this Agreement, any amendments hereto and the administration, preservation of rights and enforcement hereof. In no event shall such obligation of Seller to reimburse Purchaser include costs
incurred by Purchaser in collecting or otherwise enforcing its rights as against the Account Debtors under the Receivables, including, but not limited to, as a result of an Account Debtor Insolvency Event, unless Seller or Servicer is in breach or
default of the performance of its obligations hereunder or under the terms of such Receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Any fees, expenses, indemnity,
Repurchase Price or other amounts payable by Seller to Purchaser in connection with this Agreement shall bear interest each day from the date due until paid in full at the Delinquent Rate, whether before or after judgment. Such interest shall be
payable on demand. Fees are deemed payable on the date or dates set forth herein; expenses, indemnity, or other amounts payable by Seller to Purchaser are due ten (10)&nbsp;days after receipt by Seller of written demand thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10. <B>GENERAL PAYMENTS.</B> All amounts payable by Seller to Purchaser under this Agreement shall be paid in full, free and clear of all
deductions, set-off or withholdings whatsoever except only as may be required by law, and shall be paid on the date such amount is due by not later than 3:00 pm (New York City time) to the account of Purchaser notified to Seller from time to time.
For the avoidance of doubt, Seller shall not be responsible for any deductions, set-off or withholdings made by the Account Debtors or required by law, except to the extent provided for in <U>Section&nbsp;7</U> above. If any deduction or withholding
is required by law other than as Excluded Taxes, Seller shall pay to Purchaser such additional amount as necessary to ensure that the net amount actually received by Purchaser equals to the full amount Purchaser should have received had no such
deduction or withholding been required. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">20 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
All payments to be made hereunder or in respect of a Purchased Receivable shall be in USD. Any amounts that would fall due for payment on a day other than a Business Day shall be payable on the
succeeding Business Day. All interest amounts calculated on a per annum basis hereunder are calculated on the basis of a year of three hundred sixty (360)&nbsp;days. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11. <B>LIMITATION OF LIABILITY.</B> IN NO EVENT SHALL PURCHASER SHALL BE LIABLE TO SELLER FOR ANY SPECIAL INCIDENTAL OR CONSEQUENTIAL DAMAGES
ARISING OUT OF THIS AGREEMENT (INCLUDING LOST PROFITS OR LOSS OF BUSINESS). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12. <B>NOTICES.</B> Unless otherwise provided herein, any
notice, request or other communication which Purchaser, Seller or Servicer may be required or may desire to give to the other party under any provision of this Agreement shall be in writing and sent by electronic facsimile transmission, hand
delivery or first class mail, certified or registered and postage prepaid, and shall be deemed to have been given or made when transmitted with receipt confirmed in the case of electronic facsimile transmission, when received if sent by hand
delivery or five (5)&nbsp;days after deposit in the mail if mailed, and in each case addressed to Purchaser, Seller or Servicer as set forth below. Any party hereto may change the address to which all notices, requests and other communications are
to be sent to it by giving written notice of such address change to the other parties in conformity with this paragraph, but such change shall not be effective until notice of such change has been received by the other parties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If to
Seller:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wise Alloys Funding LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Muscle Shoals, AL 35661 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Alex Godwin or Treasury Department </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax: 256.386.6980 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: alex.godwin@constellium-wise.com </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Constellium Switzerland AG </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Max H&ouml;gger-Strasse 6 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8048 Z&uuml;rich, Switzerland </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Mark Kirkland, Group
Treasurer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office phone : +41 44 438 6642 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mail :
mark.kirkland@constellium.com </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If to
Servicer:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wise Alloys LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Muscle Shoals, AL 35661 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Alex Godwin or Treasury Department </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax: 256.386.6980 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: alex.godwin@constellium-wise.com </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">with a copy to: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Constellium Switzerland AG </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Max H&ouml;gger-Strasse 6 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">8048 Z&uuml;rich, Switzerland </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Mark Kirkland, Group
Treasurer </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office phone : +41 44 438 6642 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email :
mark.kirkland@constellium.com </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">21 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">If to Purchaser:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">HSBC Bank USA, National Association</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">452 Fifth Avenue, 4th Floor</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">New York, New York 10018</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Attention: Regional Head, Global Trade and Receivables Finance</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: ivan.v.lincevski@us.hsbc.com;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">marcus.j.wunderlich@us.hsbc.com</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"><U>with a copy to</U> (which copy shall not constitute notice hereunder):</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">HSBC Bank USA, National Association</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">452 Fifth Avenue, 7<SUP STYLE="font-size:85%; vertical-align:top">th</SUP> Floor</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">New York, New York 10018</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Attention: Legal, Global Trade and Receivables Finance</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Email: amoy.w.chambers@us.hsbc.com</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Seller agrees that Purchaser may presume the authenticity, genuineness, accuracy, completeness and due execution of any email
or fax communication bearing a facsimile or scanned signature resembling a signature of an authorized Person of Seller without further verification or inquiry by Purchaser. Notwithstanding the foregoing, Purchaser in its sole discretion may elect
not to act or rely upon such a communication and shall be entitled (but not obligated) to make inquiries or require further action by Seller to authenticate any such communication. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13. <B>SURVIVAL.</B> Notwithstanding the occurrence of the Purchase Termination Date, (a)&nbsp;all covenants, representations and warranties
made herein shall continue in full force and effect so long as any Purchased Receivables remain outstanding; and (b)&nbsp;Seller&#146;s and Servicer&#146;s obligations to indemnify Purchaser with respect to the expenses, damages, losses, costs,
liabilities and other obligations shall survive until the later of (i)&nbsp;all applicable statute of limitations periods with respect to actions that may be brought against Purchaser or any other indemnified party have run and (ii)&nbsp;365 days
following the entry of a final non-appealable order of a court of competent jurisdiction with respect to actions brought against Purchaser or any other Indemnified Party that were initiated prior to the end of the applicable statute of limitations
for such actions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14. <B>GOVERNING LAW; VENUE; WAIVER OF JURY TRIAL; ETC.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) This Agreement shall be governed by the laws of the State of New York, without giving effect to conflict of laws principles that would
require the application of the law of any other jurisdiction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) Each of the parties hereto irrevocably and unconditionally submits, for
itself and its property, to the nonexclusive jurisdiction of any New York State court or federal court of the United States sitting in the Borough of Manhattan, New York City, and any appellate court from any thereof, in any action or proceeding
arising out of or relating to this Agreement, or for recognition or enforcement of any judgment. Each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">22 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
respect of any such action or proceeding may be heard and determined in any such New York State court or, to the extent permitted by law, in such federal court. A final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties hereto irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any New York State or federal court located in the Borough of
Manhattan. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of inconvenient forum to the maintenance of such action or proceeding in any such court. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) EACH PARTY HERETO IRREVOCABLY WAIVES ANY RIGHT THAT SUCH PERSON MAY HAVE TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR
ARISING OUT OF ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15. <B>GENERAL PROVISIONS.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) This Agreement represents the final agreement of the parties with respect to the subject matter hereof and supersedes all prior and
contemporaneous understandings and agreements with respect to such subject matter. No provision of this Agreement may be amended or waived except by a writing signed by the parties hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b) This Agreement shall bind and inure to the benefit of the respective successors and permitted assigns of each of the parties;
<U>provided</U>, <U>however</U>, that neither Seller nor Servicer may assign any of its rights hereunder without Purchaser&#146;s prior written consent, given or withheld in Purchaser&#146;s sole discretion. Purchaser shall have the right without
the consent of or notice to Seller or Servicer to sell, transfer, negotiate or grant participations in all or any part of, or any interest in, Purchaser&#146;s obligations, rights and benefits hereunder and in any of the Receivables Sold hereunder.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c) Each provision of this Agreement shall be severable from every other provision hereof for the purpose of determining the legal
enforceability of any specific provision. This Agreement may be executed in any number of counterparts and by different parties on separate counterparts, each of which, when executed and delivered, shall be deemed to be an original, and all of
which, when taken together, shall constitute but one and the same agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d) Seller acknowledges that from time to time financial
advisory, investment banking and other services may be offered or provided to Seller or one or more of its affiliates (in connection with this Agreement or otherwise) by Purchaser or its subsidiaries. Seller hereby authorizes Purchaser to share any
information delivered to Purchaser by Seller and its subsidiaries pursuant to this Agreement, or in connection with the decision of Purchaser to enter into this Agreement, to any other business unit of Seller and/or to any subsidiary of Seller.
Seller hereby authorizes Purchaser to share any information delivered to Purchaser by Seller and its subsidiaries pursuant to this Agreement, or in connection with the decision of Purchaser to enter into this Agreement to any prospective participant
or assignee under this Agreement that agrees to keep it confidential to the same extent as set forth in this <U>clause (d)</U>. Such authorization shall survive the termination of this Agreement or any provision hereof. Without limiting the
foregoing, each party agrees to maintain the confidentiality of any Confidential Information (as defined below) of the other party and shall not disclose such Confidential Information to any third party except as set forth in the Agreement.
&#147;<U>Confidential Information</U>&#148; shall mean all information of a party provided to the other party hereunder. &#147;Confidential Information&#148; shall not include any information that (i)&nbsp;is part of the public domain without any
breach of this Agreement by the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">23 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
receiving party; (ii)&nbsp;is or becomes generally known to the general public or organizations engaged in the same or similar businesses as the receiving party on a non-confidential basis,
through no wrongful act of such party; (iii)&nbsp;is known by the receiving party prior to disclosure to it hereunder without any obligation to keep it confidential; (iv)&nbsp;is disclosed to it by a third party which, to the best of the receiving
party&#146;s knowledge, is not required to maintain the information as proprietary or confidential; (v)&nbsp;is independently developed by the receiving party without reference to Confidential Information of the other party; or (vi)&nbsp;is the
subject of a written agreement whereby the other party consents to the disclosure of such Confidential Information on a non-confidential basis. A party may disclose Confidential Information, without the consent of the other party, if such party is
requested or becomes legally compelled (by applicable law, rule, regulation, oral questions, interrogatories, request for information or documents, subpoena, civil investigative demand or similar process and including, without limitation, to the
extent required to be disclosed to any regulatory body having jurisdiction over Seller or its affiliates pursuant to the Securities Exchange Act of 1934, as amended, or otherwise) to disclose any of the Confidential Information. The obligations
under this <U>paragraph (d)</U>&nbsp;shall terminate on the date which is seven (7)&nbsp;years from the date of this Agreement first set forth above (the &#147;<U>Confidentiality Termination Date</U>&#148;). Following the Confidentiality Termination
Date, Purchaser shall, in its sole determination, either return Confidential Information of Seller to Seller, unless otherwise required by applicable law to maintain, or confirm to Seller that it has destroyed any Confidential Information in
accordance with its document retention policy, unless otherwise required by applicable law to maintain. Notwithstanding the foregoing, the obligations of Purchaser under this <U>paragraph (d)</U>&nbsp;shall terminate upon the occurrence of any
Termination Event or Unmatured Termination Event under this Agreement to the extent that disclosure of such information, in the reasonable judgment of the Purchaser, is necessary or required for (i)&nbsp;the transfer of servicing, (ii)&nbsp;the sale
of foreclosure of the Purchased Receivables, (iii)&nbsp;the enforcement of the rights of the Purchaser hereunder (including in connection with any legal proceeding) or (iv)&nbsp;the protection of the Purchaser&#146;s ownership and security interest
in the Purchased Receivables and its rights hereunder and under the Transaction Documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e) The Seller acknowledges and agrees that:
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i) Purchaser, HSBC Holdings plc, its affiliates and subsidiaries (together &#147;<U>HSBC Group</U>&#148;), and HSBC Group&#146;s
service providers are required to act in accordance with the laws and regulations of various jurisdictions, including those which relate to Sanctions and the prevention of money laundering, terrorist financing, bribery, corruption and tax evasion;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii) Purchaser may take, and may instruct other members of the HSBC Group to take, to the extent it is legally permitted to do so under
the laws of its jurisdiction, any action (a &#147;<U>Compliance Action</U>&#148;) which it, in its sole discretion, considers appropriate to act in accordance with Sanctions or domestic and foreign laws and regulations. Such Compliance Action may
include but is not limited to the interception and investigation of any payment, communication or instruction; the making of further enquiries as to whether a person or entity is subject to any Sanctions; and the refusal to process any transaction
or instruction that does not conform with Sanctions; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii) neither Purchaser nor any member of HSBC Group will be liable to Seller
for any loss, damage, delay, or a failure of the Bank to perform its duties under this agreement arising out of or relating to Compliance Action taken by the Bank or any HSBC Group member in its sole discretion. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Remainder of page intentionally blank] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">24 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date
first above written. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="87%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Wise Alloys Funding LLC, as Seller</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rina Teran</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Rina Teran</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">Wise Alloys LLC, as initial Servicer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Rina Teran</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Rina Teran</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Vice President and Secretary</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3">HSBC&nbsp;Bank&nbsp;USA,&nbsp;National&nbsp;Association,&nbsp;as&nbsp;Purchaser</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Heidi C. Tote</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Heidi C. Tote</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">VP Client Implementation &amp; Mgmt.</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Schedule 1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Account Debtors </U></B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top">Anheuser-Busch LLC (but only so long as Anheuser-Busch LLC remains a direct or indirect wholly-owned subsidiary of Anheuser-Busch InBev SA/NV) </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Schedule 1-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Schedule 2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Seller Information Schedule </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Actual Name, as reflected in the attached organizational documents (i.e., certified copy of the Certificate of Incorporation, Articles of Formation or
Certificate of Limited Partnership): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wise Alloys Funding LLC </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Trade Name(s) (if any): n/a </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Type and Jurisdiction of
Organization (e.g. Delaware corporation, sole proprietorship): Delaware limited liability company </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Address of Place of Business (if only one) or Chief
Executive Office (if more than one place of business): </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Wise Alloys Funding LLC </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">4805 Second Street </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Muscle Shoals, AL 35661 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attn: Alex Godwin or Treasury Department </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fax: 256.386.6980 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Email: <U>alex.godwin@constellium-wise.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Seller Payment
Instructions: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Account maintained in the name of Wise Alloys LLC at Wells Fargo Bank, National Association, with account number 2000013956783 or such
other account designated by the Seller from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Schedule 2-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Schedule 3 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Applicable Credit Spreads and Commitment Fee Schedule </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I><U>Applicable Credit Spread</U> </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On any applicable
date, the &#147;Applicable Credit Spread&#148; for purposes of the Agreement shall be determined on such date based on the grid below depending on the <B><U>lower of</U></B> the most recent public issuer credit ratings for Anheuser-Busch InBev SA/NV
as provided by S&amp;P and Moody&#146;s. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Anheuser-Busch<BR>InBev SA/NV,</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Long&nbsp;Term&nbsp;Rating</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center"><B>Applicable</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>S&amp;P</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Moody&#146;s</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Credit&nbsp;Spread</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&gt;=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AA-</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Aa3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.80</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A+</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.90</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A-</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBB+</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Baa1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBB</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Baa2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">2.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBB-</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Baa3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">3.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The per annum rates used to calculate the Commitment Fee for purposes of Section&nbsp;2(e) shall be determined based on the
rates set forth in the grid below depending on the <B><U>lower of</U></B> the most recent public issuer credit ratings for Anheuser-Busch InBev SA/NV as provided by S&amp;P and Moody&#146;s. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="84%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="71%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Anheuser-Busch<BR>InBev SA/NV,</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Long&nbsp;Term&nbsp;Rating</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ROWSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Commitment</B><br><B>Fee</B></TD>
<TD VALIGN="bottom" ROWSPAN="2">&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>S&amp;P</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Moody&#146;s</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&gt;=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">AA-</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Aa3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.40</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A+</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.45</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.50</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A-</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">A3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">0.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBB+</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Baa1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.00</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBB</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Baa2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.25</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE="margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">=</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">BBB-</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center">Baa3</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right">1.75</TD>
<TD NOWRAP VALIGN="bottom">%&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Schedule 3-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit A </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Definitions </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Account Debtor</U>&#148;: The meaning set forth in the recitals hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Account Debtor Insolvency Event</U>&#148;: With respect to any Account Debtor, such Account Debtor shall generally not pay its debts
as such debts become due (including its obligations under the Receivables), or shall admit in writing its inability to pay its debts generally (including its obligations under the Receivables), or shall make a general assignment for the benefit of
creditors; or any proceeding shall be instituted by or against such Account Debtor seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of
it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any
substantial part of its property, or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment of a receiver, trustee, custodian or other similar official for, it or for
any substantial part of its property) shall occur; or such Account Debtor shall take any action to authorize any of the actions set forth above in this definition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Adverse Claim</U>&#148; means any ownership interest or claim, mortgage, deed of trust, pledge, lien, security interest,
hypothecation, charge or other encumbrance or security arrangement of any nature whatsoever, whether voluntarily or involuntarily given, including, but not limited to, any conditional sale or title retention arrangement, and any assignment, deposit
arrangement or lease intended as, or having the effect of, security and any filed financing statement or other notice of any of the foregoing (whether or not a lien or other encumbrance is created or exists at the time of the filing); it being
understood that any thereof in favor of, or assigned to, Purchaser shall not constitute an Adverse Claim. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Affiliate</U>&#148;:
With respect to any Person, each officer, director, general partner or joint-venturer of such Person and any other Person that directly or indirectly controls, is controlled by, or is under common control with, such Person. For purpose of this
definition, &#147;<U>control</U>&#148; means the possession of either (a)&nbsp;the power to vote, or the beneficial ownership of, 25% or more of the equity interests having ordinary voting power for the election of directors of such Person or
(b)&nbsp;the power to direct or cause the direction of the management and policies of such Person, whether by contract or otherwise. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Agreement</U>&#148;: The meaning set forth in the first paragraph of the agreement to which this Exhibit is attached. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Anticipated Payment Date</U>&#148;: For an invoice, the date arrived at by adding the Buffer Period to the Invoice Due Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Credit Spread</U>&#148;: On any applicable date of determination, means the credit spreads determined at such time in
accordance with the credit spread chart set forth on Schedule&nbsp;3 attached hereto. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Applicable Law</U>&#148; means any law
(including common law), constitution, statute, treaty, regulation, rule, ordinance, order, injunction, writ, decree, judgment, award or similar item of or by a governmental authority or any interpretation, implementation or application thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Buffer Period</U>&#148;: For each applicable Account Debtor and each Purchased Receivable shall be the period determined on the
applicable Purchase Date for such Purchased Receivable as the weighted average, for all Purchased Receivables collected during the immediately preceding month (weighted </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
based on the Net Invoice Amount of each such Purchased Receivable), of the difference between (i)&nbsp;the actual payment date of each such Purchased Receivable collected during such prior
calendar month and (ii)&nbsp;the Scheduled Payment Date of such Purchased Receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Buffer Period for each Purchased Receivable shall be calculated
prospectively on each applicable Purchase Date for any related Purchased Receivable being purchased on such date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Business
Day</U>&#148;: Any day that is not a Saturday, Sunday or other day on which banks in New York City are required or permitted to close. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Capital Stock</U>&#148; means, with respect to any Person, any and all common shares, preferred shares, interests, participations,
rights in or other equivalents (however designated) of such Person&#146;s capital stock, partnership interests, limited liability company interests, membership interests or other equivalent interests and any rights (other than debt securities
convertible into or exchangeable for capital stock), warrants or options exchangeable for or convertible into such capital stock or other equity interests. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Change of Control</U>&#148; means, if at any time, (i)&nbsp;Constellium N.V. ceases to own, directly or indirectly, free and clear of
any Adverse Claim and on a fully diluted basis, 100% of the Capital Stock of Parent, (ii)&nbsp;Parent ceases to own, directly or indirectly, free and clear of any Adverse Claim and on a fully diluted basis, 100% of the Capital Stock of Originator,
or (iii)&nbsp;Originator ceases to own, directly or indirectly, free and clear of any Adverse Claim and on a fully diluted basis, 100% of the Capital Stock of the Seller. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collections</U>&#148;: With respect to any Purchased Receivable, all proceeds thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Collection Account</U>&#148;: The account maintained in the name of Wise Alloys Funding LLC at HSBC Bank USA, National Association
with Account # 000253936, Federal ABA # 021001088, CHIPS ABA No 0108, and SWIFT Code: MRMDUS33, which account shall at all times be under the sole dominion and control of Purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Commitment Fee</U>&#148;: The meaning set forth in <U>Section&nbsp;2(e)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Contracts</U>&#148;: The meaning set forth in <U>Section&nbsp;5(a)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Credit and Collection Policy</U>&#148; means, as the context may require, those receivables credit and collection policies and
practices of each Originator, the Seller or the Servicer in effect on the date of this Agreement and attached hereto as <U>Exhibit E</U>, as may be modified in compliance with this Agreement and the Transaction Documents. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Defaulted Receivable</U>&#148; means a Receivable: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) as to which any payment, or part thereof, remains unpaid for more than 10 days from the original due date for such payment, or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) without duplication (i)&nbsp;as to which an Account Debtor Insolvency Event shall have occurred, or (ii)&nbsp;that has been (or consistent
with its standard Credit and Collection Policies, should have been) written off on Seller&#146;s or Servicer&#146;s books as uncollectible. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Default Ratio</U>&#148; means the ratio (expressed as a percentage and rounded to the nearest 1/100 of 1%, with 5/1000th of 1%
rounded upward) computed as of the last day of each calendar month by dividing: (a)&nbsp;the aggregate outstanding balance of all Purchased Receivables that became Defaulted Receivables during such month, by (b)&nbsp;the aggregate credit sales made
by the Wise Alloys LLC during the month that is three calendar months before such month. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Delinquency Ratio</U>&#148; means the ratio (expressed as a percentage and rounded to
the nearest 1/100 of 1%, with 5/1000th of 1% rounded upward) computed as of the last day of each calendar month by dividing: (a)&nbsp;the aggregate outstanding balance of all Purchased Receivables that were Delinquent Receivables on such day by
(b)&nbsp;the aggregate the aggregate outstanding balance of all Purchased Receivables on such day. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Delinquent
Receivable</U>&#148; means a Receivable as to which any payment, or part thereof, remains unpaid for more than 5 days from the original due date for such payment. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Delinquent Rate</U>&#148;: A rate of interest equal to 2.00%&nbsp;per annum plus the Discount Rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dilution</U>&#148;: All actual and potential offsets to Purchased Receivables, including, without limitation, customer payment and/or
volume discounts, write-offs, deductions, offsets, credit memoranda, returns and allowances, and billing errors, but no event shall include failure or inability of the Account Debtor to timely pay due to credit-related reasons. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Discount Rate</U>&#148;: On any date of determination, a rate equal LIBOR plus a per annum rate equal to the Applicable Credit Spread
at such time. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Dispute</U>&#148;: Any dispute, claim, defense or counterclaim relating to one or more Purchased Receivables
(other than an adjustment granted with Purchaser&#146;s prior written consent) asserted or claimed by the Account Debtor in writing or other reasonable and customary form of business communication and which is not remedied within 10 days regardless
of whether the same (i)&nbsp;is in an amount greater than, equal to or less than the applicable Purchased Receivable, or (ii)&nbsp;arises by reason of an act of God, civil strife, war, currency restrictions, foreign political restrictions or
regulations, or any other circumstance beyond the control of Seller or the applicable Account Debtor, but shall in no event include the failure of the Account Debtor to timely pay any of its obligations under the Receivable in the absence of a
Dispute, Dilution or any other event for which any amount is payable pursuant to <U>Section&nbsp;6</U>. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Eligible
Receivable</U>&#148;: A Receivable that satisfies each of the following conditions to the satisfaction of Purchaser: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i)
is generated by Seller in the ordinary course of its business from sale of goods or the provision of services to an Account Debtor under a duly authorized Contract that is in full force and effect and that is a legal, valid and binding obligation of
Seller and the related Account Debtor, enforceable against such Person in accordance with its terms, except as may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, arrangement, moratorium, receivership, conservatorship or
other laws relating to or affecting the enforcement of creditors&#146; rights generally; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) such sale of goods or
provision of services to the applicable Account Debtor have been fully delivered or performed by Seller, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) the Account
Debtor with respect to such Receivable is rated investment grade by all nationally recognized statistically rating organizations then rating such Account Debtor; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) that by its terms has an Invoice Due Date that is no more than 120 days from the original invoice date and such Invoice
Due Date has not occurred, </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(v) that is owned by Seller, free and clear of all liens, encumbrances and
security interests of any Person. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vi) that is freely assignable without the consent of any Person, including the
applicable Account Debtor, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(vii) for which no default or event of default (howsoever defined) exists under the applicable
Contract between Seller and the applicable Account Debtor, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(viii) which is not subject to any Dispute or Dilution, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ix) the related Account Debtor has been instructed to make payments on such Receivable only to the Collection Account, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(x) the related Account Debtor (i)&nbsp;is a resident of the United States of America and has provided Seller with a billing
address in the United States of America, (ii)&nbsp;is not an Affiliate of Seller, Servicer or Parent and (iii)&nbsp;is not a natural person, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xi) such Receivable (i)&nbsp;is denominated and payable only in USD in the United States and (ii)&nbsp;is not payable in
installments, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xii) such Receivable is not a Receivable which arose as a result of the sale of consigned goods or finished
goods that have incorporated any consigned goods into such finished goods or a sale in which Seller or Servicer acted as a bailee, consignee or agent of any other Person or otherwise not as principal or otherwise in respect of deferred or unearned
revenues, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiii) such Receivable does not constitute a re-billed amount arising from a deduction taken by the related
Account Debtor with respect to a previously arising Receivable, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xiv) as of the related Purchase Date, no Account Debtor
Insolvency Event has occurred with respect to the related Account Debtor, such Account Debtor is not delinquent or in default on more than&nbsp;10% of its then unpaid and outstanding Receivables, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xv) such Receivable (i)&nbsp;does not arise from a sale of accounts made as part of a sale of a business or constitute an
assignment for the purpose of collection only, (ii)&nbsp;is not a transfer of a single account made in whole or partial satisfaction of a preexisting indebtedness or an assignment of a right to payment under a contract to an assignee that is also
obligated to perform under the contract and (iii)&nbsp;is not a transfer of an interest in or an assignment of a claim under a policy of insurance, </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvi) with respect to which no covenant, representation or warranty contained in this Agreement has been breached or is not
true in any material respect, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xvii) that constitutes an account or a payment intangible as defined in the UCC and is not
evidenced by instruments or chattel paper, and </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(xviii) the related Account Debtor is Anheuser-Busch LLC (but only so long
as Anheuser-Busch LLC remains a direct or indirect wholly-owned subsidiary of Anheuser-Busch InBev SA/NV) and/or such other Account Debtors as Purchaser may agree to from time to time in its sole discretion and in a writing signed by the Purchaser.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Event of Repurchase</U>&#148;: The meaning set forth in <U>Section&nbsp;7(a)</U> hereof.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Excluded Taxes</U>&#148;: Any of the following taxes imposed on or with respect to Purchaser or required to be withheld or
deducted from a payment to Purchaser, taxes imposed on or measured by net income (however denominated) or capital, franchise taxes, and branch profits taxes, in each case, (i)&nbsp;imposed as a result of Purchaser being organized under the laws of,
or having its principal office or applicable lending office located in, the jurisdiction imposing such tax (or any political subdivision thereof) or (ii)&nbsp;that are taxes imposed as a result of a present or former connection between Purchaser and
the jurisdiction imposing such tax (other than connections arising from Purchaser having executed, delivered, become a party to, performed its obligations under, received payments under, received or perfected a security interest under, purchase
Purchased Receivables under or engaged in any other transaction pursuant to this Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Facility Amount</U>&#148;: Up to
USD 100,000,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Identification Ratio</U>&#148; means the ratio (expressed as a percentage and rounded to the nearest 1/100 of
1%, with 5/1000th of 1% rounded upward) computed as of the last day of each calendar month by dividing: (a)&nbsp;the aggregate of all Collections during such month on all outstanding receivables originated by the Originator (whether or not Purchased
Receivables hereunder (and whether or not then owned, pledged or otherwise assigned by the Originator), which were not, within five (5)&nbsp;Business Days of receipt of such Collections, properly identified as being related or applicable to a
particular receivable (whether or not a Purchased Receivable), by (b)&nbsp;the aggregate of all Collections during such month on all outstanding Purchased Receivables, which were, within five (5)&nbsp;Business Days of receipt of such Collections,
properly identified as being related or applicable to a particular Purchased Receivable. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnified Amounts</U>&#148;: The
meaning set forth in <U>Section&nbsp;7(b)</U> hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Indemnified Party</U>&#148;: The meaning set forth in
<U>Section&nbsp;7(b)</U> hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Insolvency Event</U>&#148;: With respect to any Person, such Person shall generally not pay its
debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against such Person seeking to
adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief, or composition of it or its debts under any law relating to bankruptcy, insolvency or reorganization or relief of
debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such proceeding instituted against it (but
not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of 30 days, or any of the actions sought in such proceeding (including, without limitation, the entry of an order for relief against, or the appointment
of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur; or such Person shall take any action to authorize any of the actions set forth above in this definition; <U>provided</U>,
that in the case of the inability of a Person to pay its debts as such debts become due arising by reason of currency restrictions or foreign political restrictions or regulations beyond the control of Seller or such Person, such event shall not be
deemed an &#147;Insolvency Event&#148; hereunder. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Intercreditor Agreement</U>&#148;: That certain Intercreditor Agreement, dated
as of the date hereof, by and among General Electric Capital Corporation, as ABL Agent, the Purchaser, the Servicer and the Seller, as amended, restated, supplemented or otherwise modified from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Invoice Due Date</U>&#148;: With respect to a Purchased Receivable, the last date
identified for timely payment in the applicable original invoice. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>LIBOR</U>&#148;: The offered rate for deposits in U.S. dollars
in the London interbank market for a period determined by Purchaser, which is shown on the Telerate screen (page 3750) as of 11:00 a.m. (London time) day that the Purchase Price is paid pursuant hereto; <U>provided</U>, <U>however</U>, that if such
a rate ceases to be available on that or any other source from Telerate, LIBOR Rate shall be a rate per annum equal to the offered rate for deposits in U.S. dollars in the London interbank market for a period determined by Purchaser, that appears on
Reuters Screen LIBO Page (or any successor page) as of 11:00 a.m. (London time) on the day such rate is calculated or if not so reported, then as determined by Purchaser from another recognized source or interbank. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Material Adverse Change</U>&#148;: With respect to any Person, an event that results or could likely result in (a)&nbsp;a material
adverse change in (i)&nbsp;the business condition (financial or otherwise), operations, performance or properties of such Person, or (ii)&nbsp;the ability of such Person to fulfill its obligations hereunder, or (b)&nbsp;the impairment of the
validity or enforceability of, or the rights, remedies or benefits available to, Purchaser under this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Moody&#146;s</U>&#148;: Moody&#146;s Investors Service, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Net Invoice Amount</U>&#148;: The amount shown on the original invoice for the applicable Purchased Receivable as the total amount
payable by the applicable Account Debtor, which amount shall be net of any discounts, credits or other allowances identified with specificity on such original invoice. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>OFAC</U>&#148;: The meaning set forth in the definition of &#147;Sanctioned Country&#148;. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Offset Condition</U>&#148;: On any date of determination shall be satisfied, so long as (i)&nbsp;the aggregate outstanding Purchase
Prices of all Purchased Receivables at such time related to any Account Debtor and its Affiliates (on a combined basis) does not exceed (ii)&nbsp;90% of (x)&nbsp;the aggregate outstanding principal balance of all receivables payable at such time by
such Account Debtor (whether or not such receivables are Purchased Receivables hereunder), minus (y)&nbsp;the aggregate amounts of principal and interest, if any, at such time in respect of any amounts which are subject to payment by (whether or not
then due and payable) the Seller or any of its Affiliates (on an aggregate basis), to or for the account of such Account Debtor (and any of its Affiliates (on a combined basis). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Organization Documents</U>&#148;: Means (a)&nbsp;with respect to any corporation, the certificate or articles of incorporation and
the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b)&nbsp;with respect to any limited liability company, the certificate or articles of formation or organization and the operating agreement,
or the equivalent thereof; and (c)&nbsp;with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with the applicable governmental authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation
or organization of such entity, or any equivalent thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Originator</U>&#148; means Wise Alloys LLC, as originator and seller
under the Sale Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Outstanding Account Debtor Purchase Amount</U>&#148;: As of the date of determination, an amount equal
to (i)&nbsp;the aggregate amount paid by Purchaser to Seller in respect of Purchased Receivables of a particular Account Debtor, minus (ii)&nbsp;the aggregate amount of all Collections with respect to such Purchased Receivables actually deposited
into the Collection Account. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Outstanding Aggregate Purchase Amount</U>&#148;: As of the date of determination, an
amount equal the Outstanding Account Debtor Purchase Amount for all Account Debtors. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Parent</U>&#148;: Constellium Holdco II,
B.V. a Dutch entity. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Parent Guarantee</U>&#148;: A guarantee agreement in form and substance satisfactory to Purchaser duly
executed and delivered by Parent to Purchaser. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Person</U>&#148;: An individual, partnership, corporation (including a business
trust), limited liability company, limited partnership, joint stock company, trust, unincorporated association, joint venture or other entity, or a government or any political subdivision or agency thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Proposed Receivables</U>&#148;: With respect to any Purchase Date, the Eligible Receivables proposed by Seller to Purchaser for
purchase hereunder and described in a Purchase Request to be purchased on such Purchase Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase Date</U>&#148;: Each date
on which Purchaser purchases Eligible Receivables. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase Price</U>&#148;: The meaning set forth in <U>Section&nbsp;2(d)</U>
hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase Request</U>&#148;: The meaning set forth in <U>Section&nbsp;2(a)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchase Termination Date</U>&#148;: The date which is the earlier of (i)&nbsp;on which this Agreement terminates pursuant to
<U>Section&nbsp;2(b)</U> hereof, (ii)&nbsp;the date declared by Purchaser in its sole discretion following the occurrence of a Termination Event and (iii)&nbsp;March&nbsp;23, 2016, as such date may be extended in accordance with the terms of
Section&nbsp;2(b) hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchased Receivables</U>&#148;: The meaning set forth in <U>Section&nbsp;2(a)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Purchaser</U>&#148;: The meaning set forth in the preamble hereto. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Receivables</U>&#148;: Any indebtedness or other payment obligation owing to Seller by any Account Debtor (whether constituting an
account or payment intangible), including any right to payment of interest or finance charges and other obligations of such Account Debtor with respect thereto, arising out of Seller&#146;s sale and delivery of goods or Seller&#146;s sale and
provision of services. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Regulatory Change</U>&#148; means, relative to any Person: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a) any change in (or the adoption, implementation, administration, change in phase-in or interpretation or commencement of effectiveness of)
any: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Applicable Law applicable to such Person; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) regulation, interpretation, directive, requirement or request (whether or not having the force of law) applicable to such
Person of (A)&nbsp;any governmental authority charged with the interpretation or administration of any Applicable Law referred to in <U>clause (a)(i)</U> or of (B)&nbsp;any fiscal, monetary or other authority having jurisdiction over such Person;
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) GAAP, IFRS or regulatory accounting principles applicable to such Person and affecting the application to such
Person of any Applicable Law, regulation, interpretation, directive, requirement or request referred to in <U>clause&nbsp;(a)(i)</U> or <U>(a)(ii)</U> above; or </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:8%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) notwithstanding the forgoing, (A)&nbsp;the Dodd-Frank Wall Street Reform and
Consumer Protection Act and all requests, rules, guidelines or directives thereunder, issued in connection therewith or in implementation thereof, and (B)&nbsp;all requests, rules, guidelines and directives promulgated by the Bank for International
Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign governmental or regulatory authorities, shall in each case be deemed to be a &#147;Regulatory Change&#148; occurring and
implemented after the date hereof, regardless of the date enacted, adopted, issued or implemented; or </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any change in the application
to such Person of any existing Applicable Law, regulation, interpretation, directive, requirement, request or accounting principles referred to in <U>clause (a)(i)</U>, <U>(a)(ii)</U>, <U>(a)(iii)</U> or <U>(a)(iv)</U> above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Related Rights:</U>&#148; means, with respect to any Receivable: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) all of the Seller&#146;s and the Originator&#146;s interest in any documents of title evidencing the shipment or storage of
any goods that give rise to such Receivable, and all goods (including returned goods) relating to such Receivable, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) all
instruments, chattel paper or other documents or contracts, to the extent evidencing such Receivable, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) all other
security interests or liens and property subject thereto from time to time, to the extent purporting to secure payment of such Receivable, whether pursuant to the Contract related to such Receivable or otherwise, together with all UCC financing
statements or similar filings relating thereto, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) all of the Seller&#146;s and each Originator&#146;s rights, interests
and claims under the Contracts and all guaranties, indemnities, insurance and other agreements (including the related Contract) or arrangements of whatever character from time to time, to the extent supporting or securing payment of such Receivable
or otherwise relating to such Receivable, whether pursuant to the Contract related to such Receivable or otherwise, </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) in
the case of the Seller, all of such Seller&#146;s right and remedies as against the Originator under the Sale Agreement and/or any other Transaction Document; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) all Collections and proceeds of any of the foregoing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Repurchase Date</U>&#148;: The meaning set forth in <U>Section&nbsp;7</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Repurchase Price</U>&#148;: The meaning set forth in <U>Section&nbsp;7</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Repurchase Rate</U>&#148;: For any Purchased Receivable repurchased by the Seller, a rate per annum equal to the Discount Rate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Repurchase Ratio</U>&#148; means, the ratio (expressed as a percentage) with respect to any month, equal to (i)&nbsp;the aggregate
outstanding balance of all Purchased Receivables which has become the subject of a Repurchase Event, divided by (ii)&nbsp;the aggregate outstanding balance of all Receivables generated by the Wise Alloys LLC one month prior to such month. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Retained Obligations</U>&#148;: The meaning set forth in <U>Section&nbsp;8</U> hereof.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sale Agreement</U>&#148; means the receivables purchase agreement between the Originator and the Seller, dated as of the date
hereof, as amended, supplemented or otherwise modified from time to time in accordance with the terms thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sanctioned
Country</U>&#148;: A country that is the subject of country-wide or territory wide economic or trade sanctions administered by the US Treasury Department&#146;s Office of Foreign Assets Control (&#147;<U>OFAC</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sanctioned Person</U>&#148;: Any of the following currently or in the future:&nbsp;(i)&nbsp;an entity, vessel, or individual named on
the list of Specially Designated Nationals or Blocked Persons maintained by U.S. Department of Treasury&#146;s Office of Foreign Assets Control (&#147;OFAC&#148;) available at
http://www.treasury.gov/resource-center/sanctions/SDN-List/Pages/default.aspx or on the consolidated list of persons, groups, and entities subject to the European Union financial sanctions currently available at
http://eeas.europa.eu/cfsp/sanctions/consol-list_en.htm; (ii)&nbsp;any entity or individual located in or organized under the laws of any Sanctioned Country to the extent that the entity or individual is subject to sanctions under Sanctions Laws;
(iii)&nbsp;any entity or individual otherwise a subject of sanctions under Sanctions Laws; and (iv)&nbsp;any entity or individual engaged in sanctionable activities under the Sanctions Laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sanctions Laws</U>&#148;: The sanctions laws, regulations, and rules promulgated or administered by OFAC and the U.S. Department of
State, including any enabling legislation or Executive Order related thereto, as amended from time to time; the sanctions and other restrictive measures applied by the European Union in pursuit of the Common Foreign and Security Policy objectives
set out in the Treaty on European Union; the United Kingdom, and any similar sanctions laws as may be enacted from time to time in the future by the U.S., the European Union (and any of its member states), or the Security Council or any other
legislative body of the United Nations; and any corresponding laws of jurisdictions in which Seller operates or in which the proceeds of the Purchase Price will be used or from which repayments of such obligations be derived. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Scheduled Payment Date</U>&#148;: For any Account Debtor and any related Purchased Receivable being purchased on a Purchase Date,
shall mean the first date following such Purchase Date which the Seller and Purchaser have agreed to as the scheduled date on which payment with respect to such Purchased Receivable is expected to be received. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Seller</U>&#148;: The meaning set forth in the preamble. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Servicer</U>&#148;: The meaning set forth in <U>Section&nbsp;6(a)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Servicing Fee</U>&#148;: The meaning set forth in <U>Section&nbsp;6(a)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Sold Assets</U>&#148;: The meaning set forth in <U>Section&nbsp;2(f)</U> hereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Standard&nbsp;&amp; Poor&#146;s</U>&#148;: Standard&nbsp;&amp; Poor&#146;s, a division of The McGraw-Hill Companies, Inc. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-9 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Termination Event</U>&#148;: Each of the following shall be a &#147;Termination
Event&#148;: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) (i) Seller, Parent, Originator or Servicer shall fail to perform or observe any term, covenant or agreement under this
Agreement or any Transaction Document and, except as otherwise provided herein, such failure shall continue for five (5)&nbsp;days after such Person&#146;s knowledge or notice thereof, (ii)&nbsp;Seller or Servicer shall fail to make when due any
payment or deposit to be made by it under this Agreement and such failure shall continue unremedied for one Business Day or (iii)&nbsp;Servicer shall resign as Servicer, and no successor Servicer reasonably satisfactory to Purchaser shall have been
appointed; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) any representation or warranty made by Seller, Parent, Originator or Servicer (or any of their respective officers) under
or in connection with this Agreement or any Transaction Document, or any information or report delivered by Seller, Parent, Originator or Servicer pursuant to the Agreement, shall prove to have been incorrect or untrue in any material respect when
made or deemed made or delivered and shall continue unremedied for five (5)&nbsp;days after such Person&#146;s knowledge or notice thereof; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Seller or Servicer shall fail to deliver any report required to be delivered by this Agreement when due; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) this Agreement or any purchase pursuant to the Agreement shall for any reason: cease to create with respect to the Purchased Receivables,
or the interest of Purchaser with respect to such Purchased Receivables shall cease to be, a valid and enforceable first priority perfected ownership interest, free and clear of any Adverse Claim; or there shall exist any Adverse Claim on the
Purchased Receivables other than the Adverse Claims created under this Agreement; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(e) Seller, Parent, Originator or Servicer shall
generally not pay its debts as such debts become due, or shall admit in writing its inability to pay its debts generally, or shall make a general assignment for the benefit of creditors; or any proceeding shall be instituted by or against Seller or
Servicer seeking to adjudicate it a bankrupt or insolvent, or seeking liquidation, winding up, reorganization, arrangement, adjustment, protection, relief or composition of it or its debts under any law relating to bankruptcy, insolvency or
reorganization or relief of debtors, or seeking the entry of an order for relief or the appointment of a receiver, trustee, custodian or other similar official for it or for any substantial part of its property and, in the case of any such
proceeding instituted against it (but not instituted by it), either such proceeding shall remain undismissed or unstayed for a period of 60 days, or any of the actions sought in such proceeding (including the entry of an order for relief against, or
the appointment of a receiver, trustee, custodian or other similar official for, it or for any substantial part of its property) shall occur; or Seller, Parent, Originator or Servicer shall take any corporate action to authorize any of the actions
set forth above in this paragraph; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(f) (i)&nbsp;on any date of determination the (A)&nbsp;Default Ratio shall exceed 1.00%, (B)&nbsp;the
Delinquency Ratio shall exceed 1.00%; (C)&nbsp;the Repurchase Ratio shall exceed 3.00%, or (D)&nbsp;the Identification Ratio shall exceed 5.00%, (ii)&nbsp;the average for three consecutive calendar months of: (A)&nbsp;the Default Ratio shall exceed
1.00%, (B)&nbsp;the Delinquency Ratio shall exceed 1.00%, (C)&nbsp;the Repurchase Ratio shall exceed 3.00%, or (D)&nbsp;the Identification Ratio shall exceed 5.00% or (iii)&nbsp;the Offset Condition shall fail to be satisfied; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(g) a Change in Control shall occur; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(h) (i)&nbsp;Ultimate Parent, Parent, Servicer or any of their subsidiaries shall fail to pay any principal of or premium or interest on any
of its debt that is outstanding in a principal amount of at least &#128;50,000,000 in the aggregate when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall
continue after the applicable grace period, if any, specified in the agreement, mortgage, indenture or instrument relating to such debt (and shall have not been waived); or (ii)&nbsp;any other &#147;default&#148;, &#147;event of default&#148; or
similar event </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-10 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
shall occur or condition shall exist under any agreement, mortgage, indenture or instrument relating to any such debt and shall continue after the applicable grace period, if any, specified in
such agreement, mortgage, indenture or instrument; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) to the extent Ultimate Parent has a credit rating from Standard&nbsp;&amp;
Poor&#146;s or Moody&#146;s (including, if applicable, a shadow rating from either such rating agency): (i)&nbsp;such rating shall be downgraded to or below B- by Standard&nbsp;&amp; Poor&#146;s or to or below B3 by Moody&#146;s) or (ii)&nbsp;such
rating of Ultimate Parent is withdrawn by Standard&nbsp;&amp; Poor&#146;s or Moody&#146;s, as the case may be (for the avoidance of doubt, if either Standard&nbsp;&amp; Poor&#146;s or Moody&#146;s takes any of the actions described in <U>clauses
(i)</U>&nbsp;or <U>(ii)</U>&nbsp;above, whether or not such action is taken by the other or both, such action by either such agency shall constitute a Termination Event hereunder); or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(j) (i) One or more final judgments for the payment of money shall be entered against Seller or (ii)&nbsp;one or more final judgments for the
payment of money in an amount in excess of &#128;50,000,000, individually or in the aggregate, shall be entered against Servicer, Parent or Originator on claims not covered by insurance or as to which the insurance carrier has denied its
responsibility; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(k) This Agreement, the Parent Guarantee, at any time, ceases to be the legal, valid and binding obligation of the
Seller, the Originator, the Servicer or the Parent, or the Seller, the Originator, the Servicer or the Parent, at any time, challenges its obligations thereunder; or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(l) any of the representations or warranties made by the Seller, Parent, Originator or Servicer (or any of their respective officers) set
forth in <U>paragraphs (d)</U>, <U>(g)</U>, <U>(h)</U>, <U>(l)</U>, <U>(o)</U>&nbsp;or <U>(q)</U>&nbsp;of <U>Section&nbsp;3</U>, above, shall at any time or on any date (notwithstanding that pursuant to Section&nbsp;3, such representations and
warranties are expressed as being made only on the date hereof and on each Purchase Date, for purposes of this paragraph, they shall be deemed to be made on each date during the term of this Agreement), shall prove to be incorrect or untrue in any
material respect at such time or on such date and shall continued unremedied for five (5)&nbsp;days after such Person&#146;s knowledge or notice thereof. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Transaction Documents</U>&#148; means this Agreement, the Sale Agreement, the Parent Guarantee, the Intercreditor Agreement, any
account, control or similar agreement (if any) covering the Collection Account and all other certificates, instruments, UCC financing statements, reports, notices, agreements and documents executed or delivered under or in connection with this
Agreement, in each case as the same may be amended, supplemented or otherwise modified from time to time in accordance with this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>UCC</U>&#148;: The Uniform Commercial Code in effect in the State of New York from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Ultimate Parent</U>&#148; means Constellium N.V., a Dutch public limited liability company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>Unmatured Termination Event</U>&#148; means an event that, with the giving of notice or lapse of time, or both, would constitute a
Termination Event. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">&#147;<U>USD</U>&#148;: United States Dollars, the lawful currency of the United States of America. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit A-11 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit B </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Form of Purchase Request </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[date] </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">HSBC Bank USA, National Association </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">452 Fifth Avenue </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10018 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Reference is hereby made to that certain Receivable Purchase Agreement, dated as of March&nbsp;23, 2015, between Wise Alloys Funding LLC
(&#147;<U>Seller</U>&#148;) and HSBC Bank USA, National Association (&#147;<U>Purchaser</U>&#148;) (as it may be amended, modified or supplemented from time to time, the &#147;<U>Agreement</U>&#148;; capitalized terms not otherwise defined herein
shall have the meanings set forth in the Agreement). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the terms of the Agreement, Seller hereby requests that Purchaser
purchase from Seller the Proposed Receivables listed herein with an aggregate Net Invoice Amount of USD[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;]. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Seller represents and warrants that as of the date hereof and on the Purchase Date: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1. Following the purchase of the Proposed Receivables set forth in this Purchase Request, (A)&nbsp;the Outstanding Aggregate Purchase Amount
does not exceed USD[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;] and (B)&nbsp;the Outstanding Account Debtor Purchase Amount with respect to the Purchased Receivables (assuming the Proposed Receivables constitute Purchased Receivables) payable
by any Account Debtor does not exceed the sublimit established by Purchaser for such Account Debtor; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2. Seller&#146;s representations,
warranties and covenants set forth in the Agreement are true and correct; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3. The conditions precedent for purchase set forth in
Section&nbsp;2(d) of the Agreement have been satisfied; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4. No Event of Repurchase exists on such Purchase Date except for repurchases
being effectuated on the date hereof by setoff by Purchaser against the Purchase Price for the Proposed Receivables; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5. There has not
been any Material Adverse Change in Seller. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6. Set forth below is the applicable invoice related to the Proposed Receivables offered for
sale by Seller to Purchaser based on the approved Account Debtor(s), including Account Debtor&#146;s legal name, address, the invoice number(s), the stated amount of the invoice(s), the date and term of the invoice, the stated due date of such
invoice (s), the Scheduled Payment Date of such invoice, the related Buffer Period and the calculation of the Offset Condition: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="3%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="94%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">[</TD>
<TD VALIGN="bottom" STYLE="BORDER-BOTTOM:1px solid #000000"></TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">]</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit B-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon acceptance by Purchaser of this Purchase Request and payment of the Purchase Price, Purchaser hereby
purchases, and Seller hereby sells, all of Seller&#146;s right, title and interest with respect to the Proposed Receivables on the attached Exhibit as of the date hereof, and the Proposed Receivables shall become Purchased Receivables in the manner
set forth in the Agreement. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="80%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">[&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;]</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">PURCHASE REQUEST ACCEPTED:</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="5"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="5">HSBC Bank USA, National Association</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="4"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Date:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit C-2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit C </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">[Reserved.] </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit C-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit D </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Payment Reconciliation </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit D shows the payment for each individual invoice related to the Purchased Receivable. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Please include all the information in the Purchase Request together with the payment date, payment amount, any Dilutions and the outstanding
amount, if any. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="23%"></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD>
<TD VALIGN="bottom" WIDTH="6%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman"><B>Account</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>SOLD_TO_NAME</B><br><B>(Customer)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Address</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Document&nbsp;No<BR>(Invoice No)</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Amount</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Invoice<BR>Date</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Invoice<BR>Due&nbsp;Date</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Term<BR>Date</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Payment<BR>Date</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Payment<BR>Amount</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Offsets</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Outstanding</B></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR BGCOLOR="#cceeff" STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit D-1 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit E </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>Credit and Collection Policies </U></B></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Exhibit E-1 </P>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>15
<FILENAME>d908770dex121.htm
<DESCRIPTION>EX-12.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-12.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit&nbsp;12.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Certification by the Chief Executive Officer </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;302 of the Sarbanes-Oxley Act of 2002 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I, Pierre Vareille, certify that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;I have reviewed this annual report on Form&nbsp;20-F of Constellium N.V. (the &#147;Company&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.&nbsp;Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.&nbsp;The Company&#146;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules&nbsp;13a-15(e)&nbsp;and 15d-15(e)) for the Company and have: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being prepared; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;Evaluated the effectiveness of the Company&#146;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;Disclosed in this report any change in the Company&#146;s internal control over financial reporting that occurred during the period
covered by the annual report that has materially affected, or is reasonably likely to materially affect, the Company&#146;s internal control over financial reporting; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.&nbsp;The Company&#146;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Company&#146;s auditors and the audit committee of the Company&#146;s board of directors (or persons performing the equivalent functions): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the Company&#146;s ability to record, process, summarize and report financial information; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#146;s
internal control over financial reporting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April&nbsp;24, 2015 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Pierre Vareille</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Pierre Vareille</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><I>Chief Executive Officer</I></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-12.2
<SEQUENCE>16
<FILENAME>d908770dex122.htm
<DESCRIPTION>EX-12.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-12.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit&nbsp;12.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Certification by the Chief Financial Officer </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;302 of the Sarbanes-Oxley Act of 2002 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">I, Didier Fontaine, certify that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;I have reviewed this annual report on Form&nbsp;20-F of Constellium N.V. (the &#147;Company&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.&nbsp;Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.&nbsp;Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all
material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.&nbsp;The Company&#146;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures
(as defined in Exchange Act Rules&nbsp;13a-15(e)&nbsp;and 15d-15(e)) for the Company and have: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;Designed such disclosure controls
and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those
entities, particularly during the period in which this report is being prepared; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;Designed such internal control over financial
reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external
purposes in accordance with generally accepted accounting principles; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;Evaluated the effectiveness of the Company&#146;s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;Disclosed in this report any change in the Company&#146;s internal control over financial reporting that occurred during the period
covered by the annual report that has materially affected, or is reasonably likely to materially affect, the Company&#146;s internal control over financial reporting; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.&nbsp;The Company&#146;s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over
financial reporting, to the Company&#146;s auditors and the audit committee of the Company&#146;s board of directors (or persons performing the equivalent functions): </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the Company&#146;s ability to record, process, summarize and report financial information; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company&#146;s
internal control over financial reporting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April&nbsp;24, 2015 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Didier Fontaine</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Didier Fontaine</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><I>Chief Financial Officer</I></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.1
<SEQUENCE>17
<FILENAME>d908770dex131.htm
<DESCRIPTION>EX-13.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-13.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit&nbsp;13.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Certification by the Chief Executive Officer </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the Annual Report of Constellium N.V. (the &#147;Company&#148;) on Form&nbsp;20-F for the year ended December&nbsp;31, 2014
as filed with the Securities and Exchange Commission on the date hereof (the &#147;Report&#148;),&nbsp;I, Pierre Vareille, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to
Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, that to my knowledge: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1)&nbsp;The Report fully complies with the requirements of
Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Securities Exchange Act of 1934; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2)&nbsp;The information contained in the Report fairly
presents, in all material respects, the financial condition and results of operations of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April 24, 2015 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Pierre Vareille</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Pierre Vareille</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><I>Chief Executive Officer</I></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-13.2
<SEQUENCE>18
<FILENAME>d908770dex132.htm
<DESCRIPTION>EX-13.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-13.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit&nbsp;13.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Certification by the Chief Financial Officer </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;906 of the Sarbanes-Oxley Act of 2002 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In connection with the Annual Report of Constellium N.V. (the &#147;Company&#148;) on Form&nbsp;20-F for the year ended December&nbsp;31, 2014
as filed with the Securities and Exchange Commission on the date hereof (the &#147;Report&#148;),&nbsp;I, Didier Fontaine, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section&nbsp;1350, as adopted pursuant to
Section&nbsp;906 of the Sarbanes-Oxley Act of 2002, that to my knowledge: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(1)&nbsp;The Report fully complies with the requirements of
Section&nbsp;13(a)&nbsp;or 15(d)&nbsp;of the Securities Exchange Act of 1934; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(2)&nbsp;The information contained in the Report fairly
presents, in all material respects, the financial condition and results of operations of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April 24, 2015 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="13%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="78%"></TD></TR>


<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Didier Fontaine</P></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Didier Fontaine</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="top"><I>Chief Financial Officer</I></TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>19
<FILENAME>d908770dex151.htm
<DESCRIPTION>EX-15.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-15.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 15.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</U> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We hereby consent to the incorporation by reference in the Registration Statement on Form&nbsp;S-8 (No. 333-191905 and 333-201141) of Constellium N.V. of our
report dated March 25, 2015 relating to the financial statements and the effectiveness of internal control over financial reporting, which appears in this Form 20-F. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Olivier Lotz </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Olivier Lotz </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Partner </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">PricewaterhouseCoopers Audit </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neuilly-sur-Seine, France </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April 24, 2015 </P>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21.1
<SEQUENCE>20
<FILENAME>d908770dex211.htm
<DESCRIPTION>EX-21.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-21.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 21.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>LIST OF SUBSIDIARIES OF CONSTELLIUM N.V. </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>(including those as of 31&nbsp;December 2014 and Wise entities) </U></B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="8%"></TD>
<TD></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE="border-bottom:1.00pt solid #000000; width:20.00pt; font-size:8pt; font-family:Times New Roman"><B>Name</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Jurisdiction&nbsp;of&nbsp;Incorporation</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Holdco II B.V.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Netherlands</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium US Holdings I, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Rolled Products Ravenswood, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Extrusions Levice s.r.o.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Slovak&nbsp;Republic</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium France Holdco</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Extrusions Decin s.r.o.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Czech Republic</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Germany Holdco GmbH&nbsp;&amp; Co. KG</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Germany Verwaltungs GmbH</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Switzerland AG</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Switzerland</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Engley (Changchun) Automotive Structures Co Ltd.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">China</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Valais SA</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Switzerland</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium UK Limited</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">United&nbsp;Kingdom</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium South East Asia</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Singapore</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium China</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">China</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Deutschland GmbH</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Singen GmbH</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium US Holdings II, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Automotive USA, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Property and Equipment Company, LLC</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Ussel</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">C-TEC Constellium Technology Center (formerly known as Constellium CRV)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium France (renamed into Constellium Issoire on 31&nbsp;March 2015)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Finance</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Japan KK</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Japan</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Extrusions France</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Aviatube (renamed into Constellium Montreuil Juign&eacute; on 16&nbsp;March 2015)</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Extrusions Deutschland GmbH</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Extrusions Landau GmbH</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Extrusions Burg GmbH</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Germany</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Engineered Products International SAS</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Alcan International Network Portugal</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Portugal</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Alcan International Network S.A. Pty Ltd.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">South Africa</TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD WIDTH="80%"></TD>
<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD></TR>

<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Italy S.p.A.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Italy</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Alcan International Network (Thailand) Co. Ltd.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Thailand</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Alcan International Network M&eacute;xico S.A. de C.V.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Mexico</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Quiver Ventures LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Holdco III B.V.</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Netherlands</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium France II (renamed into Constellium Aviatube on 16&nbsp;March 2015)</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium France III</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Paris</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium Neuf Brisach</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Constellium W</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">France</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Wise Metals Intermediate Holdings LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Wise Holdings Finance Corporation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Wise Metals Group LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Alabama Electric Motor Services, LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Listerhill Total Maintenance Center LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Wise Alloys LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Wise Alloys Finance Corporation</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="5"></TD>
<TD HEIGHT="5" COLSPAN="2"></TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Wise Alloys Funding LLC</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">Delaware&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
</TABLE>
</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>21
<FILENAME>g908770g05f05.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g05f05.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X6'(:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](EA-4"!#;W)E(#4N,2XR(CX*(#QR9&8Z4D1&('AM
M;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN
M=&%X+6YS(R(^"B`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@
M('AM;&YS.F1C/2)H='1P.B\O<'5R;"YO<F<O9&,O96QE;65N=',O,2XQ+R(*
M("`@('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(*
M("`@('AM;&YS.GAM<$=);6<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N
M,"]G+VEM9R\B"B`@("!X;6QN<SIX;7!-33TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+VUM+R(*("`@('AM;&YS.G-T4F5F/2)H='1P.B\O;G,N861O
M8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C(@H@("`@>&UL;G,Z
M<W1%=G0](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP92]297-O
M=7)C945V96YT(R(*("`@('AM;&YS.FEL;'5S=')A=&]R/2)H='1P.B\O;G,N
M861O8F4N8V]M+VEL;'5S=')A=&]R+S$N,"\B"B`@("!X;6QN<SIX;7!44&<]
M(FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]T+W!G+R(*("`@('AM;&YS
M.G-T1&EM/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1&EM
M96YS:6]N<R,B"B`@("!X;6QN<SIS=$9N=#TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+W-4>7!E+T9O;G0C(@H@("`@>&UL;G,Z>&UP1STB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+V<O(@H@("`@>&UL;G,Z<&1F/2)H='1P
M.B\O;G,N861O8F4N8V]M+W!D9B\Q+C,O(@H@("`@>&UL;G,Z17AT96YS:7-&
M;VYT4V5N<V4](FAT='`Z+R]W=W<N97AT96YS:7,N8V]M+VUE=&$O1F]N=%-E
M;G-E+R(*("`@9&,Z9F]R;6%T/2)A<'!L:6-A=&EO;B]P;W-T<V-R:7!T(@H@
M("!X;7`Z365T861A=&%$871E/2(R,#$U+3`T+3$X5#(P.C$Y.C`V*S`U.C,P
M(@H@("!X;7`Z36]D:69Y1&%T93TB,C`Q-2TP-"TQ.%0R,#HQ.3HP-BLP-3HS
M,"(*("`@>&UP.D-R96%T941A=&4](C(P,34M,#0M,3A4,C`Z,3DZ,#8K,#4Z
M,S`B"B`@('AM<#I#<F5A=&]R5&]O;#TB061O8F4@26QL=7-T<F%T;W(@0U,V
M("A7:6YD;W=S*2(*("`@>&UP34TZ26YS=&%N8V5)1#TB>&UP+FEI9#HR04,S
M-S,R,D0Y135%-#$Q0D9#,T4R1$%%-C,X,4$T,"(*("`@>&UP34TZ1&]C=6UE
M;G1)1#TB>&UP+F1I9#HR04,S-S,R,D0Y135%-#$Q0D9#,T4R1$%%-C,X,4$T
M,"(*("`@>&UP34TZ3W)I9VEN86Q$;V-U;65N=$E$/2)U=6ED.C5$,C`X.3(T
M.3-"1D1",3$Y,31!.#4Y,$0S,34P.$,X(@H@("!X;7!-33I296YD:71I;VY#
M;&%S<STB9&5F875L="(*("`@:6QL=7-T<F%T;W(Z4W1A<G1U<%!R;V9I;&4]
M(E!R:6YT(@H@("!X;7!44&<Z2&%S5FES:6)L94]V97)P<FEN=#TB5')U92(*
M("`@>&UP5%!G.DAA<U9I<VEB;&54<F%N<W!A<F5N8WD](D9A;'-E(@H@("!X
M;7!44&<Z3E!A9V5S/2(Q(@H@("!P9&8Z4')O9'5C97(](D%D;V)E(%!$1B!L
M:6)R87)Y(#$P+C`Q(CX*("`@/&1C.G1I=&QE/@H@("`@/')D9CI!;'0^"B`@
M("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A=6QT(CYG-35X-#,\+W)D9CIL
M:3X*("`@(#PO<F1F.D%L=#X*("`@/"]D8SIT:71L93X*("`@/'AM<#I4:'5M
M8FYA:6QS/@H@("`@/')D9CI!;'0^"B`@("`@/')D9CIL:0H@("`@("!X;7!'
M26UG.G=I9'1H/2(R-38B"B`@("`@('AM<$=);6<Z:&5I9VAT/2(Q-C`B"B`@
M("`@('AM<$=);6<Z9F]R;6%T/2)*4$5'(@H@("`@("!X;7!'26UG.FEM86=E
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M3FIO*T-K-5-6;'!E66U:)B-X03MQ8FY*,F5N-4MJ<$M7;7`V:7!Q<75S<F$V
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M;WIC5')Q57%81#)$;35%=DUE<$1)2G`T,S5$='5X2DEX5FXS;&HX=TYC,6U(
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M03MR=CA!1"\U9R]W1%4R=R\Y=WE,+T%+<EEQ-R]$+W=#65`O53)W+SA!8TUI
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M>%8R2W5X5C)+=7A6,DMU)B-X03MX5D)8;74V2EI4+U8W>E5,83)N4'`P:&UM
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M5FQ/:U1T4'`P57)0-FAB;%8V,7)2:4U#)B-X03MO>D970V5A-318,6570V%(
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M>F1P;FPS5S4S=F\U<$$X66Q544)866A046E)0VQL66UT=W`R2%%(,G%696HK
M5D1844Q5*U!0.$$U3TYG)B-X03M+<'1I<GE8.'DW6'I08V$Y34Y$=DER32ML
M>&ME6E$T16A%0FIB9U5A=$57469A2%AV,DMV4E!+;B](071F*V5N+TIX<T)6
M3G-695,O)B-X03MM6&]D+W%M=E1#,3%38E1!<UAP=3!(3&M3-&=D6$AX<716
M15)89%1S>#9B,4MV4E!+;B](071F*V5N+TIX<T)63G-695<O;4AO1VMA)B-X
M03LQ<DTP3W`R-'5966U2,&E:;D-C:D-&*TI6241B2&\Q8TE1>GIY<"]X=TQ8
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M03LP2C`U;VI(5U)8:G)-<G)(8S-E.&-M=V%Q.&AV5$972&5F-79-2RM92C0Y
M2FEI65!(25=M;5AM<51,-EAP0F@V,$QC5U5Y5G!8>#EM)B-X03M+2&]F;%@O
M:F<R=B]!1#`O-4].9TM5,GA6-50K66UJ6$]O*UE:+U1V<&)325%01$ES3%-O
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M03M'4#A!3'E66E9P5W`R97%A8F)A:EIY3$QA,V-A>7A/:G!)2TU+,#52<S9'
M;E0T5TEX5D99<3=&6%EQ-T989T@U:69M9BMI4$]M<6%D)B-X03LK:F98*W)Y
M2W9Q*W9W-59J5G9S*VTQ3W9J:%$Y6"],2%=F,#$U2#`S52]2*W(O5U!8+V1C
M=61/1GA);C)Q3%=V1W94055S;WA6.#(O)B-X03MM.34V.'EA6"M9;7)73FY/
M:5<P4#%F,#%-84U2>71O;4\U1F5R6550679Y:#%/.#%4.'4Y2G9R>&<Y>DXY
M63E29T%O4$<U;%5B1&)O)B-X03MU0DQ-359F2F8U-GEX2BMA971",U934F)%
M06M$65=K3T98=E`U1R\K4W0P5"]O-B\V:35S0W,W>%8X:F9N,652469M<')1
M974V,C<W)B-X03M%9$9T26$Y4TU+=F9V>4XO.&QB;VXO4C$O=T)28S)"5V0T
M<2M14'IY93=8.'HY8SE"02]X4FYE;C)V<3A60G5Y-%9E+R]K3B\U3$A3)B-X
M03LO=T18=68X07%)9D%R,$1&6'E.*V9A6&IF;6YR6#%D=W9W,C0S24AX9E9)
M869S=&A6-SDK4FXO:W).12\V3W8K;W5B07)/.%9F23,U)B-X03LK,F-D>BMA
M3W-H,DE#+U8V54-N-U9N15`R9S)&6'8S-4=F.$%K<DY%+W=#:G(O<4QM=TMZ
M=D98>50K9DYT1%`K84]S:593=U@V=%%6)B-X03M)1SEN14]X=W$Y>B]!0T4O
M.&QN<"]W1'AL=68K5'I90W(P4$98>6(K95@O:S!T8B]!3VI8+W%%:'=O938O
M:VI(2$HK5D]J4GE+2&IC)B-X03M8875J0V])3C--0T-$,G=*6EI&-6(X=7A0
M13A7;%=C8G=*2$9#>7=22U5J:#0K:VEK3'-S9D)E24A39W`P>%9&,E9J6E=&
M<$9:,DYV)B-X03M(83)K0SA)8F5"1FIJ4E(K>7%+07%J-5EQ<EEQ;%AM=CE.
M+S1A,4PY06AZ<E`Q9"\P94EZ0T=-.5!G;V)G1TQR+U!T:7)"3%A7=GHQ)B-X
M03MG=7)I3S0P4S%L,#8S4TYO<FU8,%AU2E=94FU12#9V9$EP-$U:1C)H6#11
M1T%:=F=9<7E,.'8X058O>D0Q2T]A6'ID<$YT<&-2=')+)B-X03M3>4U$2&TX
M<W-293974TYN9&\O5&9I;U9T*W4U-T)8>EHK9'E8:F9M8G)N,61W;C=X2S%P
M,3E'4"]*8D-R-D<O23,O>59U:68Y2%@O)B-X03M!1D9Z649:,VER-48O4'DR
M;&TO3E!7=45X:6],66)6+S5:250R665'1EAV+T%/4G8O:W)D12\V3W8K;W5B
M07)/.%9F2E`U.%<X578U)B-X03MP-C,V9THR=&PR6FAS,6Y$6&]2:%8W,RM2
M=CA!-4LS4E`K:G(O<4QM=TMZ=D98>6(K95@O04I.3%<O.$%O,2\V:$EC2TAU
M+S5'+SA!)B-X03MK<F1%+W=#:G(O<4QM=TI:,VER-5<O3T11.59U=GI(,7%E
M0S-,>$\X6$9G5D9A45)G.50T:D-H-V0K4T9T4&$O;'AP,$4V8TI5930U)B-X
M03M+84=L6C-)-F5X=T9,3SA69DUF-7EE5V13=F9Z23%E-6A-9G!Y9E9U4$II
M1#A.<D5P-V4R14EE,&9K,UI45U@U8C928E15.5-0-GIY)B-X03LT;6\K2S9L
M669R=T9,3DU69D]8-70K5F)E+SA!>D(Q5S9E9#!A5#9V5E%!44].=$5V.$U)
M43EE+TM3>%-W+TPW4W)61TQR2#E9;W@R)B-X03M*-5A-<F9X=T9,3#A69E!8
M-7)E5SE-=E!0,G%8331C>7EE:'EO,4)T8E)Q4'='14EE<"]L1EEW5UAK83!T
M-$LK;7-K>$%9,4\X:DA%)B-X03MP6FQG5C1.*UHR;F%F3C4T,4M35S%I:VMB
M,$]4=6ES5%,S:D<U27E143E2+TQ'1TM(>5!P<V-33$A'=G(X55%"44LS16@R
M07=&3$M-)B-X03M#=7A6,DMU>%8R2W5X5CAV+VUT-58Q1S@O34A78FU+4T99
M-4I52VAM874P4T1E:6YW=V]E,B]K-5EY,E`U8V%287EL5VMJ*W-C:6Q3)B-X
M03M0:75P5S)Q0C0T0VQM94MV;E0X,F9+,6YF9FU"<70Q2DQ)<GEF5C9Q=D=N
M=S(P83EX-UE1:#8W*U4Q:DA9+VPO<%9R1WA:22]R1D=A)B-X03ML9FEU6D<W
M9E!!57-U>%8T1BMA1VHV6F-E9714;6YT,&ML8C!/5&UT5%,S:D$O05E1:#9N
M*U8Y=D1B*U)D36AG45)X3#8O1D(P1F)I)B-X03M1;CA49TM75EEQ.$\O36XO
M04I45%5F.$%N:B]Y66IY45$Y32],8B]L0SE/+S4W9CAN-4U"4WE807)W;GHO
M=T0X<&AQ6"MU=B]!0V)8)B-X03M*0D0P=CAS4"M54'1F.658+VLT8T)31U8T
M1F5(9FU4+T%-<'!Q4#A!>G@O-4U2-4E)96UF;'0O>6AE;F8X.78K5#AM07!:
M3&=6-&0K)B-X03M:4#A!>6UM;R]W1%!(+VMX2&MG:#9:*U<S+TM&-F0O>C(O
M-5!Y64-L:W5"6&@S-6LO=T1+86%J+T%-.&8K5$5E4T-(;S,U668X;V9A)B-X
M03LO=T-V3"]Y8T]!<$1+.$-V1'9Z2B]W0U4P,4@O04HT+SAM23AK15!44'DR
M+S51=E1V*V4S+THK5$%5<VQW2S=&6%EQ-T9867$W1EAH)B-X03M0;B\O04I4
M1%5V.$%86"]K,G530TAQ4#5B9CA!2T8V9"]W03EV*U0X;4%P6DQG5C1D*UI0
M+TMA86HO>G@O=T-416530TAP;C5B9CA!)B-X03M+1C9D+W=!.78K5#AM07!:
M3&=6-&0K6E`O2V%A:B]Z>"]W0U1%95-#2'!N-6)F.$%+1C9D+W=!.78K5#AM
M07!:3&=6-&0K6E`O2V%A)B-X03MJ+WIX+W=#5$5E4T-(<&XU8F8X04M&-F0O
M=T$Y=BM4.&U!<%I,9U8T5#4O+T%/57<Q3"]86"]K,G530TAP9C599CAO9F$O
M-CAV+TIW)B-X03LT0VM-<G=+.$\O36XO;$Y.4B\U-"]W1$II4$I"1#!Z.'1V
M.$%L0SE/+W=#93,O2BM4055S;'=+.$\O36XO;$Y.4B\U-"]W1$II4$I")B-X
M03M$,'HX='8X06Q#.4\O=T-E,R]**U1!57-L=TLX3R]-;B]L3DY2+S4T+W=$
M2FE02D)$,&(X<U`X06Q$-U@O6&PO-4](055H;&5"6&@S)B-X03LU:R\X<'!Q
M4"]02"]!2DU2-4E)96LO;#5.1$(U1G-:<&Y72T=*6C-K:V-H5E96;6M*6FED
M9T%/<'=&2V)F-&XX=&@W5E`P=%HX-S9/)B-X03M/87E8-GA&5V%/6C%J:65)
M8W9J5C-K5E9+-T5K061C0V\K1V%'949*;UA75T=643AC:45-<DMW<4=5:EEG
M:F]C5E@T<3=&56DX,&5D)B-X03MV3&YL:')-83%D9E9H92MU651X3"]"87=0
M8U1/5E=R14MK9%!H0DI9<4%..%964$QN;D1Y.35I92MJ,&TU.6545'!21&5)
M561#:DU#)B-X03M5*S!!0T=55D90:V%';WA6-'8X06UD<75N,DAN0R\X07)K
M-G<K;S0Y4&Q89FI';&%5*UEY4TAR;C5B9CAO6'`S+U!B+T%*4'E90VQK)B-X
M03MU0EAZ,RMC6&U,5'1(.#989W5Y-6%B,'EI>')Y3D9G:7)T+W-S2TAR,S5B
M9CAO5G`S+U!B+VLO2FE5<VUW2RME9GIM,6TW,#-Z;&5F)B-X03M69$]N,4=3
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M>5$S:VQO531684ES0V5D<7%$-TQ*.6YL564K1D0Q<CAT=BM52S`W+VYT)B-X
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M.'!P<5`O4$@O:WA(:V=H-EHK5S,O2T8V9"]Z,B]W0U0X;4%P6DQG5C1D*UI0
M+TMA86HO>G@O-4U2-4E))B-X03ME;69L="]Y:&5N9C@Y=CA!:R]*9TM74S1&
M94AF;50O>6UM;R\X.&8K5$5E4T-(<&XU8F8X;UAP,R]08B]!2E!Y64-L:W5"
M6&@S-6LO)B-X03LX<'!Q4"]02"]K>$AK9V@V3BM72"]+2#)V*W9,+W=!;D1G
M2U%Y=D%R=S<X>68K53`Q2"]N:B]Y66IY45$Y32],8B]L0SE/+S4W9CA!)B-X
M03M**U1!57-L=TLW1EA9<3=&6%EQ-T98:%!N+SA!-51$578Y9&8K5&$U24EE
M;R]L="]Y:&5N9C@Y=BM4.&U!<%I,9U8T9"M:4"]!0VUM)B-X03MO+SA!4$@O
M:WA(:V=H-EHK5S,O2T8V9"]Z,B\U4'E90VQK=4)8:#,U:R\X04MA86HO=T$X
M9BM416530TAP;C5B9CAO6'`S+U!B+VLO)B-X03M*9TM74S1&94AF;50O=T%P
M<'%0+T%$>"\U35(U24EE;69L="]Y:&5N9C@Y=BM4.&U!<%I,9U8T9"M:4"]!
M0VUM;R\X05!(+VMX2&MG)B-X03MH-EHK5S,O2T8V9"]Z,B\U4'E90VQK=4)8
M:#,U:R\X04MA86HO=T$X9BM416530TAP;C5B9CAO6'`S+U!B+VLO2F=+5U,T
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M14TS>'%55E9M57-#;V%G2G`P<55-,SAJ)B-X03M3851E*U9R2S8P1S9U5C!M
M5#%F<7=L5TU0.$UZ<3%154I(>&<Y8T-5.49R4'8O<&MV='1&+W=!,%EQ.',X
M,C9H-4)8>EI.86%Q;6]Z)B-X03MA;$IC=S)S,#!,,FYP:&UJ:&]Z04]R2W%P
M2W!91F57>$Y$=%5O6GHU3&IS6B]+,FTS1VQ36&1T<#EX14HW94,T15!Q;W-P
M3#!E:75+)B-X03LQ8G-X=TI4;U=S+V4X;%`P4F8X04Y'2W9,4$YL+W=#478X
M5WDR97%*<4TR<'DS34YP3$Y#.7`V45IO-&5,3CAA;$962E9,5E5.<U14)B-X
M03MP56]:=#5&:S!M*SAQ,D8S;U9Z8W)P37=K83%%;VDU,#E6=S-,-%=)*TMU
M>#-(43!/,D)+96DQ;C<S:W`K:4PO04IO>%8U6C5S=CA!)B-X03MY1B]I-E=Z
M,4]055HY5&QU66)35U=&-U0P9WI2=SA766,Q2TMQ4W%7<6]B66UN4W!1>G9Y
M:&)7-3AU,EIS1&0R9&UW8W<R.7@Y6&%1)B-X03M+6D=027-G;%5H+W1+47@R
M27=*5&=7<R]E.&Q0,%)F.#!9<3AS.#)8+VM,+T%"8DY:-FY(<4TK<'DS34YP
M3$Q#.7`V65IO-&5,3BLX)B-X03M5;W%P2W!A<6AT:6%D2VQ$379Y+W5.2C%,
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M;D5*:T9*6$16259X.7-(.7)!<65I,6XW)B-X03LS:W`K:4PO;6I&6&Q(-6=A
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M9T%F4V-655`P;G!V+T%#,7<O=T1)>&8V-'$W.4HV8B]Y)B-X03LQ=R\X:D8O
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M5S`Y9E%L4UAJ5&QW64Y3)B-X03MV4W1-5E4W+T%%*W<Q1WIL<W11=&]R>7IM
M1DIR83126EEN04YA36IG<61X,T=+<TAV+TPS-58R9FU3,#AV+S1*,"ME-W5O
M9G),4WAA)B-X03MB62ML1D-'2T=3479W8FE'1D<T2S-';W)4:TMQ,G5/:F9K
M2TEN;4YJ-59%56$X-4I04S`W:7%6235%,&]".$HS.7-65F8X3B]K:'AI)B-X
M03MF.48K5V5-.%14=W0V1FA2-&\V.#5&4$@T:UAG,5='=V]C5E4W+WDY*U1.
M<&]E;V%Z2#5D,$\K=&1.<U<Q3V1B3WIS6FYA,D545$DV)B-X03M!2T9);%-.
M=E1*241E3TMP9')&;BM61VMP84YD*U%R45!C-EAD-GI,14Y/,#-L8E<Y:D5K
M:W$S2$IL0W975EEX>$I8:V9T53-X5D5Z)B-X03MA2"M6<U9Z;VQQ,VM/>DXQ
M<FM0,6E/06%:649O1411<2]R.7%X;358;4EY.4%'8C=)<FER25`X06Q76#5B
M9CA!57`V3B]W0G<K,2\V)B-X03MP-'$W+VQ76#5B9CE3;F\S+V-0=&8K<65+
M=2\U5FPK5S,O57`V3B\S1#=8+T%+<#1Q-R]L5U@U8F8Y4VYO,R]C4'1F*W%E
M2W4O=T-6)B-X03M:9FQT+W="4VYO,R]!2$0W6"]Q;FER=BM66F9L="\Q2V5J
M9CEW*S$O-G`T<3<O;%=8-6)F.5-N;S,O8U!T9CA!<6YI<G8K5EIF;'0O)B-X
M03LQ2V5J9CEW*S$O-G`T<3<O04I6;"M7,R]!1DME:F8X06-0=&8K<65+=2\U
M5FPK5S,O57`V3B\S1#=8+W%N:7)V*U9:9FQT+S%+96IF)B-X03LY=RLQ+W=#
M<65+=2\U5FPK5S,O57`V3B\S1#=8+W%N:7)V.$%L5U@U8F8X055P-DXO=T)W
M*S$O-G`T<3<O;%=8-6)F.5-N;S,O8U!T)B-X03MF*W%E2W4O-59L*U<S+U5P
M-DXO,T0W6"]!2W`T<3<O;%=8-6)F.5-N;S,O8U!T9BMQ94MU+W=#5EIF;'0O
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M0TM-3$-T<VAJ9VA73F91:DAO;%!48C`V<T=5;C1M04E&0495<#AZ9FQ0;V9M
M864T;C%I)B-X03LY=3=M5V5$-G%J3VQM,V]X9E=48SA9959S,T=T4D=7-FQ&
M1E1Y*TEQ<&YF*U-X9F%N8C9J3G)/;V973%`Q5W-G<'1U14US<3--66U2)B-X
M03M405)Z:FEV1VI(2W%S1E1M1TLQ2W)).%9D:7)S5F1I<G-69&ER<U9D:7)S
M5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D:7)S5F1I)B-X03MR<U9D:7)S
M5F8O+UHB+SX*("`@(#PO<F1F.D%L=#X*("`@/"]X;7`Z5&AU;6)N86EL<SX*
M("`@/'AM<$U-.D1E<FEV961&<F]M"B`@("!S=%)E9CII;G-T86YC94E$/2)U
M=6ED.C(U83<X.#$Y+34Q9C4M-&8S,BUA9C8R+30V839A9&9B93=C,2(*("`@
M('-T4F5F.F1O8W5M96YT240](GAM<"YD:60Z,SDW0C,Q1C=#0T4U130Q,4)&
M0S-%,D1!138S.#%!-#`B"B`@("!S=%)E9CIO<FEG:6YA;$1O8W5M96YT240]
M(G5U:60Z-40R,#@Y,C0Y,T)&1$(Q,3DQ-$$X-3DP1#,Q-3`X0S@B"B`@("!S
M=%)E9CIR96YD:71I;VY#;&%S<STB9&5F875L="(O/@H@("`\>&UP34TZ2&ES
M=&]R>3X*("`@(#QR9&8Z4V5Q/@H@("`@(#QR9&8Z;&D*("`@("`@<W1%=G0Z
M86-T:6]N/2)S879E9"(*("`@("`@<W1%=G0Z:6YS=&%N8V5)1#TB>&UP+FEI
M9#I#13A#.41!,D4Q0S1%,S$Q0D9#,$1%-#0W,C)$1#A%,R(*("`@("`@<W1%
M=G0Z=VAE;CTB,C`Q-"TP-"TQ-50Q-3HR,3HR-2TP-SHP,"(*("`@("`@<W1%
M=G0Z<V]F='=A<F5!9V5N=#TB061O8F4@26QL=7-T<F%T;W(@0U,V("A7:6YD
M;W=S*2(*("`@("`@<W1%=G0Z8VAA;F=E9#TB+R(O/@H@("`@(#QR9&8Z;&D*
M("`@("`@<W1%=G0Z86-T:6]N/2)S879E9"(*("`@("`@<W1%=G0Z:6YS=&%N
M8V5)1#TB>&UP+FEI9#HR04,S-S,R,D0Y135%-#$Q0D9#,T4R1$%%-C,X,4$T
M,"(*("`@("`@<W1%=G0Z=VAE;CTB,C`Q-2TP-"TQ.%0R,#HQ.3HP-BLP-3HS
M,"(*("`@("`@<W1%=G0Z<V]F='=A<F5!9V5N=#TB061O8F4@26QL=7-T<F%T
M;W(@0U,V("A7:6YD;W=S*2(*("`@("`@<W1%=G0Z8VAA;F=E9#TB+R(O/@H@
M("`@/"]R9&8Z4V5Q/@H@("`\+WAM<$U-.DAI<W1O<GD^"B`@(#QX;7!44&<Z
M36%X4&%G95-I>F4*("`@('-T1&EM.G<](C8Q,BXP,#`P,#`B"B`@("!S=$1I
M;3IH/2(W.3(N,#`P,#`P(@H@("`@<W1$:6TZ=6YI=#TB4&]I;G1S(B\^"B`@
M(#QX;7!44&<Z1F]N=',^"B`@("`\<F1F.D)A9SX*("`@("`\<F1F.FQI"B`@
M("`@('-T1FYT.F9O;G1.86UE/2)4:6UE<RU)=&%L:6,B"B`@("`@('-T1FYT
M.F9O;G1&86UI;'D](E1I;65S(@H@("`@("!S=$9N=#IF;VYT1F%C93TB271A
M;&EC(@H@("`@("!S=$9N=#IF;VYT5'EP93TB5'EP92`Q(@H@("`@("!S=$9N
M=#IV97)S:6]N4W1R:6YG/2(P,#$N,#`P(@H@("`@("!S=$9N=#IC;VUP;W-I
M=&4](D9A;'-E(@H@("`@("!S=$9N=#IF;VYT1FEL94YA;64](E1I:5]?7U]?
M+E!&0CL@5&EI7U]?7U\N<&9M(B\^"B`@("`@/')D9CIL:0H@("`@("!S=$9N
M=#IF;VYT3F%M93TB5&EM97,M0F]L9"(*("`@("`@<W1&;G0Z9F]N=$9A;6EL
M>3TB5&EM97,B"B`@("`@('-T1FYT.F9O;G1&86-E/2)";VQD(@H@("`@("!S
M=$9N=#IF;VYT5'EP93TB5'EP92`Q(@H@("`@("!S=$9N=#IV97)S:6]N4W1R
M:6YG/2(P,#$N,#`P(@H@("`@("!S=$9N=#IC;VUP;W-I=&4](D9A;'-E(@H@
M("`@("!S=$9N=#IF;VYT1FEL94YA;64](E1I8E]?7U]?+E!&0CL@5&EB7U]?
M7U\N<&9M(B\^"B`@("`@/')D9CIL:0H@("`@("!S=$9N=#IF;VYT3F%M93TB
M5&EM97-.97=2;VUA;E!3(@H@("`@("!S=$9N=#IF;VYT1F%M:6QY/2)4:6UE
M<R!.97<@4F]M86X@4%,B"B`@("`@('-T1FYT.F9O;G1&86-E/2)2;VUA;B(*
M("`@("`@<W1&;G0Z9F]N=%1Y<&4](E1Y<&4@,2(*("`@("`@<W1&;G0Z=F5R
M<VEO;E-T<FEN9STB,#`Q+C`P,2(*("`@("`@<W1&;G0Z8V]M<&]S:71E/2)&
M86QS92(*("`@("`@<W1&;G0Z9F]N=$9I;&5.86UE/2)-=')?7U]?7RY01D([
M($UT<E]?7U]?+G!F;2(O/@H@("`@/"]R9&8Z0F%G/@H@("`\+WAM<%109SI&
M;VYT<SX*("`@/'AM<%109SI0;&%T94YA;65S/@H@("`@/')D9CI397$^"B`@
M("`@/')D9CIL:3Y";&%C:SPO<F1F.FQI/@H@("`@/"]R9&8Z4V5Q/@H@("`\
M+WAM<%109SI0;&%T94YA;65S/@H@("`\>&UP5%!G.E-W871C:$=R;W5P<SX*
M("`@(#QR9&8Z4V5Q/@H@("`@(#QR9&8Z;&D*("`@("`@>&UP1SIG<F]U<$YA
M;64](D1E9F%U;'0@4W=A=&-H($=R;W5P(@H@("`@("!X;7!'.F=R;W5P5'EP
M93TB,"(O/@H@("`@/"]R9&8Z4V5Q/@H@("`\+WAM<%109SI3=V%T8VA'<F]U
M<',^"B`@(#Q%>'1E;G-I<T9O;G1396YS93IS;'5G/@H@("`@/')D9CI"86<^
M"B`@("`@/')D9CIL:0H@("`@("!%>'1E;G-I<T9O;G1396YS93I0;W-T4V-R
M:7!T3F%M93TB5&EM97-.97=2;VUA;E!3(B\^"B`@("`@/')D9CIL:0H@("`@
M("!%>'1E;G-I<T9O;G1396YS93I0;W-T4V-R:7!T3F%M93TB5&EM97,M0F]L
M9"(O/@H@("`@(#QR9&8Z;&D*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z4&]S
M=%-C<FEP=$YA;64](E1I;65S+4ET86QI8R(O/@H@("`@/"]R9&8Z0F%G/@H@
M("`\+T5X=&5N<VES1F]N=%-E;G-E.G-L=6<^"B`@/"]R9&8Z1&5S8W)I<'1I
M;VX^"B`\+W)D9CI21$8^"CPO>#IX;7!M971A/@H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*/#]X<&%C:V5T(&5N9#TB=R(_/O_;`$,``0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`?_;`$,!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`?_``!$(`,L!
M2@,!$0`"$0$#$0'_Q``?``$``@,``P$!`0``````````"0H&!P@$!0L#`@'_
MQ`!;$```!@(!`@(#"P8("08/`0`!`@,$!08`!P@1$@D3%!4A%A@W.%EV=Y>U
MMM@*%QDB,74V.4%8F+*WUR,U5G)T>):SU"1"45>4U24F)S(S-%1589&5L;32
MT];_Q``8`0$!`0$!`````````````````P(!!/_$`#41``(``P4'`P('`0$`
M`P`````!`A$Q(7&!L<$#$C)!49'P4F&AT=(B,T)B<K+A\8(30Y+_V@`,`P$`
M`A$#$0`_`+_&`,`8`P!@#`&`:IWM+SM?TEM^P5>;=UNR5_65ZGH"?8-(=^\B
M)F&K,G)QK]!E88N:@W9V[MJBH+>4B9!DL4#)KME"&$,'557HC2XH\I=OW'P9
MJWRXVQLV7L&Z9_BIM#;LI>F=;UG%3;:Q0%5NU@*YI]/85BOZ_?R%=CZZI*P,
M!,0RD=*+QOD6-XI'*/7:(U$DHW#RFD8YKCQ::FE#:`I#ZB;8V;:[9#^'I1[)
M>I9C2*9/6?8G._5DO=]?6EG3XE9.NNX)HVJ<P^VM*5QU&5VFS3IW%5>/G8NN
MV%S`\GI\T^0X&ITLWK+?TN7_`#YD:/XD^+#LQ&A#4=]U&T[4V?9G'B6V?4NQ
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MI`ZQI]I0UIQ8V\YJ4Q5ZX6M#&5RR2#5Y-0-`U"@\18V#8BC-68NTC4U"O7*8
MXX:42E#;;*<2G;/%OIT,4U=XI$_KW9'*+7N[7=AV;:W?B%;IX^<9:4E#5"JN
MH'7^L.,5(Y`S%=G9BL0#<'HPR;N:@X1Z^9VNV3UJLM7@G3]6+,^GX<'#8FK%
MNIN]MKZ7'?F[>=-;T[I/C%NX-5[&L$;REVGQ\U-4:2^;QU&V%6+'R0,V0IB%
MT@;<Y8H03V$D7:$9<8E[((/8-[YZ71QZ,MVCBAFVIJQ-SY65I\'+S?Q>X&=D
M=;TJA<8]M[!W'L';O,?CTIJ6`M&M8^8@-W\*8%S9-D5)>QVFR5^H2,)8(A%!
M_3[2TF2@];NDTGL0RD^V-435#NY6;24H7.3M47R9"KXPW'>&DW[F[5B\4O7[
M'8_*'39[Q(%AI(R&T^'FJ_SL[N@7\%#2#X485E$1UOKU2LS"5E4+/:J5*M@8
MQT)*U6>GPW'[.Q/")R7G^RXQ#Q@-AT?9F_=];%I-\)Q<KO`'B+RQH^AU3ZG6
MO$87D5N"5H["Q,[5!QZ#Q5Y(5M_5'LY3[3;'[>`EFUC:Q;IPB2-<OAI0322E
MO;T4,[9?A4_'TE[G>9_%&UZKM*XZ(B]96Z1W1#\KK-Q*IE1"7A&T7?;;4M(D
MY`SMM0L:G<$%4V5`.FW/Z;%.9M6UO(Z$:1+IJZ4EVPSN63G9NJ)^TW)+N<@\
MA/%!W6TK_B'MFVOKCQPA.+7#WBCNV/L96=$M/(&C6_D.2TS4ZSF]=W%*5U>[
MGZDPCD*TI4GDN_C&LK7)M^I9G?NBC&U>'5!;#1[T42YRLESKS]CL%AXI&GW.
MPVM":5NU2$.MRE<\&&FQ7BT6PC9#E4PTDANP]3=0K<J\BQI[F.5"F&NZ#=;R
M=@@K'IU@U6(G:U!G=<I_MWO_`#.7>?+IV/PX3>*50N:MZU[1H/3VQM:K[8XK
MK\M]>RENDZ9)M)C7<7MHVF+`PD4:S.2;F$GF%N49+,6SDBJ4G#N%7AE&"[;T
M18(H7#/VBW?B:/"V'XC+75%)Y;[^L5.L=JUCQTY8T/A]%T>IK5YG8YN:FU-,
MUZ:V`+FP&8MU7AMG;F+6489Q/QL0A3*DE8$U#2\JY:`"AFTN;3>;R7R8S4_%
MHK5PV1$:B=Z$V;2K'.<D.27#]6?D+'KN5@8+?7'O6CO:KN.[HJ9DY*0K-BJ*
M;1=G:"01FT?,OVL8XC7[=-^^:ANV-S5B3E[.2^&_+)Q1VKQ/>6HZ0:7_`%OR
M%N3UF_\`!+VGS&A9Z\:DT#&VIUOBA\G:5K^*OLS!0M+G*VR.\J<E+0$E3F3V
M1IIV;DDBWC4+`DE+(BB@4VFO_L4-C=)-\\"2&A^)/[B]Y[MUQLVP7N_6N4W9
MP!X\:@URM7==UVG1&R^4W'M/9)'$-=Z^Q1M+FJR,=%V+8VQY&ZQ<F^J"\<\K
M&O(>?1-$L9+D[6NDODQNS2:E2)NO)_\`$I=;>;/UL?C:ZH8UE"R5/1FSKL#;
M0?*?>EJC&D[1X5[34.&%Y4H^^ZK+FF9A!N]D(YPBI)4M]`JRR-N9K,?,;0@.
M5%6W3O\`\;ZI3<*7OO*:9U'HWQ']/\@.0#SCY2XYU%6UE6*7=1A[K-153ODC
M1;YIVL;A@=D5N@27:[M^M3)VQAKY_9ZG,3;R(V#'S+&9@HVN)P]FG!EPM*?*
MVWW3:E?9.XP>[>*/0:-O"WZ/D]571U+4KFEQ>X52TXQEH`T<K;^6%*:WO7]T
M8MUU4'2U7A8AXBVMK98&\PSDA%&(:S+4#/`#=L3G5-]G(T]^E[K-N?2U`CM/
M[/H,W9#<_=>T;8`2NNK!'I[2X&P#R4V0+2(</G:PQ;MD3UK292R0:;.6D6I(
MJ=@F;)8[L1W<H['PN7M%YY8:GU3XM5P@X^KN;W3;-LS5E&\*/1G.J\;-",AF
MFY=@2NU94M=+,2^N:)''I]40CG-?F9"VQ=44D8R&9R<C/LU31,`WC70."O+\
M;ANE?\'<M:YRQ-RM'"ZUU1]6K-J3F'>]NZ6A'U.ME=OU:0M.OJ+LK:%2V'5[
ME7T&Z[R"L\+J:XUZ:@)UHRG8M]+U1*9@J18*Y;X>3'-WBZPV_*4OE?-KL)&\
M&1@#`&`,`8`P!@#`.`'?B(T!FZ<M#\;.?ZQVKA9L99IP0Y,NFJID%#)&5;.D
M-?'1<MU!*)D7")S)+)B51,QB&`1&MWWA[GC_`*1K7W\VCQ!_Z!')[^[S`W?W
M0]Q^D:U]_-H\0?\`H$<GO[O,#=_=#W'Z1K7W\VCQ!_Z!')[^[S`W?W0]Q^D:
MU]_-H\0?^@1R>_N\P-W]T/<?I&M??S:/$'_H$<GO[O,#=_=#W,6O'.O5&P*;
M::+/<:_$73@KC`2U9FABN"W*2,D3Q$VR6CI-%G(MM>`Y8K+LG"Z!7;4R;IOY
M@JME45RIJD#=_=#W.,()IPGKVI*9H>/XQ^*S^9[7>O=@ZPI&OG'&3FPM7J]5
M-GU&QT.WE1;C42JR4XXI]PM5?B;/.+2EBK4?899*N246+Q4PC5LV]Z&;M=.5
MO0Y05I9*GON)V9I)KXJNI:O08/CGKO3\+"\4>4$W!U'3NC:G6JFXH=PUSL3C
M7L4UY<33%G<6QI:O[5UDPDF-J:*S5?6M<98;A=QVJ<W`Y[S;]WSY2[?YT_4J
MSP#ILC29*+X=^)JY4U\')0E:;2O$[F?(,T$N7@D4Y"(NT%*@7T]._N4R.U`=
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MI'68S-L]MC:<?E.Z..6REO0R2:JJ.O(]9`UK@94Y'7T_4N)WBFU.WZQV)N#9
M52O58XQ\WZ_=&TIR`D23&YX%]8HFL-'TG3;_`#"82\C6'QEF$3)B+VL!!+@4
MY1W\3G^*&U)<J*G+EW/WEH+@A*S$W:2\3/%(A[M,<BUN5C>_5_B]S:AKQ6]W
MOJHVH<U9ZO96563D8>/L=&9LZE8JLFHK5YF(:-A>Q"D@@F_*%OJAI*JHG/IU
M/$YY;:9<F=7<;]=:PT+SN@R:0Y5<<]\23VY\/>:S"7DZIHNP&G'<)%W.+U/;
M;6-SGDR(M6MKDG1G[1\=2>=R#V03[5PAL;;<-J:JN?M3`RFD+<'M>6C25WJW
M$/Q,&5QT'L#=NUZ79E^(7,5_+RNS.2"+MMO&\7QP]I2X7N>V&S?.V$BO8TWJ
M$4Q43:UEM!I,V)6P.;G^*&V2KR5$K+)'F.W?`B2N<]<9?@KS\F0L-JW5?G=2
ME.#?+!W1F^P.1U*:ZZWK=V-9-1`:M[!LVEMEH2P&%12-;^N+1*PD=$SENM,G
M,!^+U0\N:Y.:Y<F:F+J;PYU*9=J++<.O%,LD'?>/M$XN3`63C?SNF'+326JY
M\EFUA4(0SJ#%M$FU_+MV#BM3+=KZZ0%@07C]Z=],'DPG%7?AJXN575T,A=5'
M@,Z4E)?WIGBIH7R4WK!<EQVLCQQYWCLZ.W=`U5&CIWF$M2T&LM#+2]/1"MV6
M#CVZ%8L<4"#:8A781\69B%OJAI+E2LJ6V]3W6SX[@GM^0W9(WCB5XI4@KR+U
M3K[3.Z4D>-/.QNAL&EZP=/G%-]T`!!G5?6"-1DY!@-E66--+,WKSN=^E.W3I
M8%O*4HH;&VJ6-UY?X9*UFN$;*\H[!;<-_$82FFVREMX-V8<*.6`P"._'&JD=
M)K;T)!FH`L/SF*ZU02A#2ADS1/K(#6\(0+JHI8C#ELI;T-)5Y5E=/D>#QZ><
M(>+MKUS<M.<0_$O@IK5&BI?C71AD^(?,:Q,HG34YL0^UG]3593=,>HR)S7LR
M<RC.2`.;`@1NWC$Y0L4GZ$(ZYN<XH;7-VJM.A^^Q[1Q1VO$;NH]UXN^(X[U=
MOW;5!W]>:9#\'^6E:<AN?7S;7[6.M$;88.F,GK:)D5-4Z[GY&ND2(@O;8&1F
MW3MZC9I2.*.*:E**%-)JO)S]O=^(QYO'<&6ER1O[3B=XG[:UM^0VU.5"$FEQ
M,YC""6\]T4IOKO8ER(T4I"C,J<S36Y81O7@;^YJ(2.JZB(AD_/Z4`6TWH:2Y
M4G/IUQ,!)J#PXTZ5':]3X:^*`G4HOC18.(#.+)Q;YL=2<>K3L%OL^>H1W8U0
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M8-R8%`#\7JAY+E^FG+_O,]W56'!RBSFO++2>*_BIU&=U?H?7/&RHR-<XT<Y(
MA5+4>HKD>\ZTKTRDSKB36S*5&<6<@R?6)"37?L')VDV,H5)H9L#FYSBAM;?*
MKJZ&<4/8?%S7%IU5+U;BEX@#""TY:MS;4J$$3P_>3*:JN\-_+V-+9>U)5TVU
M\V8!(.X*X7*"@H"$AX6O03"Z6!LR8$CVU980`.;G^*&V2=O)2DOA7R1V#^D:
MU]_-H\0?^@1R>_N\P9W?W0]Q^D:U]_-H\0?^@1R>_N\P-W]T/<?I&M??S:/$
M'_H$<GO[O,#=_=#W'Z1K7W\VCQ!_Z!')[^[S`W?W0]Q^D:U]_-H\0?\`H$<G
MO[O,#=_=#W'Z1K7W\VCQ!_Z!')[^[S`W?W0]S=.C^5-8WQ8I6M0>I.3VOW,1
M"GG%93>'&O;^EJZ\0(^9,!815@V'5X**E)HRCXC@D,R<JR!V*#UZ5`6S-PH0
M<:ES3N9T]@X,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`YMY/<A4..E1U_,$K:EIG]J;UTOQ^IL:H_-$Q#>V[I
MO<72XR:LLN1G(K1]?KZ+YY-/@:L';V448MH%@1-]+-W"(ZE.?LF^QKC<W+PW
M'*>T97]QU6%9!N7?;'4`V&N6Y)S#UFJ65).MT79<LUF(V+D4"V;;5BUOKV1J
MY".4ZNK<WDJ-HG8RMB]F`2G/V4Z=UVF\*<S75?Y\(6V"M]MB(C6L%$QFWN6.
MG:74[]M!*K;-OTGQ+9;!C;7/5BIJ03E6=]<WB@2+1:IQ9UIFJZZ5:[&E'CM5
M9]4X<=W;4O:'E3>D\GW/:^'ISH6YV4.S7E+7#2D1E;C-+J&?QUN6L;)W9MHZ
M1HVX[-3%6,K6JE88N4UF-[C*\\DW,2K`7%HO&6BLR2C60=Q<0$4.[SZ_#:]T
MZ9HD)P9&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`/Y.<$R&.;N[2%,<W:4QS="@(CVD(!CG-T#V%(4QC#["@(B`
M8!&[;.=/#/9GK+3NVXFQ-7([,:T&S4#:VMY*&?5FR0>R^-%6IMOEV4F7S(>/
M5V-RCXTOZ-;(U49>'D[I&V9,()6C7%_4AJ3Y7V-=&W\)^-'ZRVS^"]\UPP0L
M=97L]/W-R`/Q'6K=HK5K>R=TVGJC?=AH;E.WQ$\L,HO&T_<<?-2#J\VWL.62
M79.SOG$K-PC1^_S_`#Y$FG<IX-3R9^._KWP>T/M)%CN/4[V'G[7!['O,/=_S
M=3#BDSUPL\17-:7^/@IU`Y(EMN+859N5?J4O8DFT>^M43,#796XK+DD(Q$$H
MFK'[2GV_P\+2^^.%U!FZTTX_:9MT2^VSI=9W5I#6VG9DD??(7C%ZOUVCIY&2
M9%(T?7'3[6;9TR(CI)1.LUF)2<5^/M;:.@7S..!IVS=';-TG;/'/W:-S4[GS
MQFNU0JMSCK59V$?;JW!V=@QF-;;!9R[)G/QC65:M)1HE6W*361;H.R(OFZ;E
MPF@Y(JD1=4I04,&Y%T^4=F8,C`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P#\U2&4243(JH@<Z9R%72!(543&*)2JI@
MNFLB*B8B!R`LBJD)@`%$SDZE$".)IX8NF7TI7[!LC9F\-S66OV9Q/EL.PI;6
M#-],,7&[]"\CS52=::WU1KZ$D8'\]''.@799]ZI2N$@LYLT)+6J0K<R6&9C6
M]622FI<^C7-ODY=N=IYCGPP^.LFWJ)9V?W3,2%)Y*7+E%#RQ=G2%:46O-]W;
M/\@;)7YF#H[&K5";ICC8MFEG+)O)UMS:8F)7"*C+8T0`QC!O/VINTY2EDM:G
MN;_X=NJ-B/F+66V3NQCK>'I#6DU_3;"PT=[1*^1A9VE[8V..F[+KNP;:6GT;
M_%5N[NDY;9TG6YJ>IU++8:[+Q%3@8IB"B:MYUG;]9?!X4-X>-8J"2#'7?(_D
MSK:$8:SM6M(2#J$IHXK6O)WV;E;3?KE"2<_HF>LS.Y76W3<C;;"L:>6K2]@)
M`O6M89EI5&1K+'SJ-[V3[_7S%FP:]P^6K,!!UR-Y0\ID8ZOP\9",$FEMUE!M
M4F44R08-4VT)6-20=;AVY$$$RHQ=>A(>#CTP*TB8N/8(MVB(Y/V7S]3LC!P8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!Z.QV
M2'J<2K.3SH[.,1=Q3%1PFT>/3%=34JRA(TGH[!NY<]J\E(M$%%@2\AJ10SIV
MH@T1773`UQ5-_:DN]E8U"K6]O+6*2;R[UC'(Q\LD+F/A8NISCN12<.6"+4\<
MM"WFHRT<^*N+:483S%Q'J."F5\L=D_,?HS<>#@P#46XIW:$!#0[C5%>96:><
M.[<FXC)%NHHR5%EJC8TU4T73PC^.)%-9/94518-V_6<%2!I*KMA4:F<E?-0L
MY^6_29A>H[7O2;O%ICMC5-"(I#-*<"GSH,O0Y&:9LK,+.L/YAD=8H1<A/5$[
M6>=I)"HZ5EW,U!2M-UD2G0\AMD=LRR^OC,BW!.V6)E-6LJM,W6)>2^P8!"4"
MNZX?WNL/ZPA,1)[2PO<C'TZRKT^/D($[^+@9M*5J9F=DD(^:D952LP-B1`%I
MUEY<:(C;QRKMUFM#B-KWN/K\5=XQQ5V<Y67H(6>EN[=;(-E%O4)FNPTG$KN:
M-5X#8MDD?7YG4.ZV<RKHIP]CUY(46\A9?_SZY>YU%J>T3MRUY6;%9JQ8Z=//
MFKE&2@+:W;-+"W7C9!Y%`^D6K-NT;-S3:;(DXV12:-`39R+<@M&Q@,@F.&Q,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@'&MNWKN^%M;"#A=-OY6$<
M[(4J3ZS%K]I7;1514G;"P>7Y5JV[3.8ZEQ$7"2\DW*N@G=_=4S;UE['&C7QA
M';.O7EV[G4-&F9FQTJGV&QP*]5L,[5J_,SM8<F,=S7)F4B6CV4@7!SD2.=>'
M?+KQZICIIF,HW,)B$$1*`X93@#`.-X"P<KU'%;"=KS-)FHAK@LZHBUKX.2`O
M9=#M[@NLD5T($?GBY/D2>728@9C'Q55HSN%(C)290FAVSW\G_GR=D8.#`,+V
M-`-;;0+M4'DJW@T+?4[%532[E)-=&.]T40\B`>&;*NF1'?HWI?G`T%VV])[/
M)\]'O\PH3E;G0YS@]!P,5L6/OJNTHZ4<,+6%L:-W<='.)1!^=]M99=!I+NIY
MVDBD\B=N2M,64&(6=)TFK4*%8+LGM93EG/9/H^S&\NJ[JVGTG>=@9P#`-;[/
MEZC'P"3.ZQ[V3AY209!Z*R[P.+N*=MYIBJ91)ZP63!N]8-G!!37_`%CI%(H4
MR1CE'J4[$<<6[C/SY-%:GO?'"3GA+J^,4,[3M:D8L6.=*.H.&MI(1A7S&]5!
M/NXF)EV%3/&UUJZ9QR3V.IXLJ^P.C7P08YW<=KFK-,#F_-JMO7WQ.O<R:&`<
MO<B]GVC6C,\K`/3)(1]7FYURR*A'&%ZI%)+N2I>D/6+T6XJD0\H%"D,0G=WF
M3/TZ#N%)IM^9$XFTTD_CWN,%XS;TN6X!KDQ-*O&+&<C9ERK`OV4:B\8+Q[EV
MS!!VJWBV*@.456IO.*B)FWF=Q4%WC8$G2R)+=FE*V5L_?W]@G%O2;GVZ3Z&^
M=M[%D]?*Z\-&)PSTMFV)4:I,1CX3FE305GL,35WDU$I-Y%!ZFE7GD_'2$D^;
M0ME0;I^C-IAG`P+^4N]5P4\\\^AJV;W%MV,MDTK7ZW0]B:X:SM$8M).M23B-
MEVR5L*N^6B!>2,PYC[)+C5Y.GVUA)0<>A%D+.M(9VAZL<R5UK0[9+OI+7RQ[
MSU5L2!VQK^MW^MO4Y")GFSD"NT6<BP04?Q,@\A)DC9K+-VT@1JA,QL@W;*.$
M2BX;I)N$S*)*IJ''*&P<`8`P!@#`&`,`8`P!@'BNWS)@1)1\\:LDUW"+1$[M
MPDV(LZ<G\MNV2,L<A5'"YQ`B*)!%14_ZI"F'V8`9/F4BW(\CWC5^T4,J1-TR
M<).FZAT%E&ZY2+H'.D8R*Z2J"I2F$4UDU$S@!R&*`'E8`P#3.U[5LZLO:@%!
MK#&P14H[>-K4\7C)F9=5]N@\@W)I8(^'>,EUV#.KDNDAZ,T]8S<[9HZIT^%B
M3JV=S+PH&::ZD[1-4"DR]XC$86Z254K[VVQ39JNP:1]E<Q;56<:LF+I_)O&3
M%*3,Y*R9OI!X_;-?)0?+G=D6'`,RP!@',V[-+W[8TPYDZCM*T4MLZIGN:4BX
MBPK0R24H60DA;3;)4D'-H-RD;3SF2L+-Q'OU+:[J5&@TWM6C&\Z_E!VSIYYK
M[2Z7(42D(4P@8Q2E*(E`2@(@``(@43'$H"/M`!,80#V"8?VX.']8!X[M4R+5
MRL3IWI-UE2=0ZAW)IF.7J'LZAU`.H=?V8..CN9P'*\FMI,;95(!G$55]&SR<
MTM*2!W+QK+0S>)8^>5^WA"QKII*1QY!>+B7KA:>BEV3J9CSH-)`AEP1IN*RO
M=?0EO16V_".U*#./;)4(6;D?)]-?I.3K^CIBDCW)/7+<O8F)CB4/+2)U_6'J
M;J/\O3,1*3:*0N:3?EIF&<-&)7Q^\BZ=89&/7,V>LXU99LX(!1.DJ42]IR@<
MIB"(=?V&*(?_``SJJKT9BLA?G,X!1W!NXUY>,SVI$U,1K;9VG_XNG;2I9UW(
M'0021L)I)Q%RC<C1A)+24<G`1[N+%S!*^GO4WZA$J[L,Z9YST)S<JOOI_I(M
M`KK.H.&=.#BJNYBHY==0W0!4669HJ*'$"@``)SF,8>@`'4?8`!DG5WLJJ*Y'
MM<X=-,[[<MVNN7ZSI=%LB$C%`*KA4B*8"9T4"@)U#%*`F'V``CU$?8&;@KA]
M#$=,=&1WU!O%Q5QL,RI:O2D[',P0L8US<967CV#9@W3!15C%S$F\8P+Q])O9
M$KMM7DF48XCVD(8[4'J+A0]>OG_"73S_`*2[9YST#`.5^5=D95NKUAP]1=+$
M<3ZR)`:E2,8#%CESB)@561`"]`Z>P1'K_)T]N;@J[B>TY/SRPY'TO<:VGL:J
MQT>SF`<SEV1?.'3PK1119])/RB!G"Y71E3(LVX-HUB42G%I%L6+)/JDU3`*.
MCN>1A55ZS)8,@7&`1_\`,6URM=LU.1CP:]CF"?*J>>B94>XD@!`[1!0G0.@^
MT.@^W*P4QT1*.N&K,#XMW::G-N1L>]!GZ.>'G%#>2@9,_<DS$Q>AA5.'3K^T
M.GMSL?"\#D'$L<F2<&22.=-4Z:9E$>X45#$*8Z0G+V'%,X@)B=Y?U3=HAW%]
M@]0]F1+`J*1``"))D`H@)0*0I0*)4P1*(=`#H()`"0"'M!,`('ZH=,`_HA")
MD*FF0J9"`!2D(4"D*`?L`I2@```?R```&`?U@#`&`,`8`P#7&VX:[V#7M@B-
M<3A:U<W81?J:;.`J$8>1-1KF1.=N1=DH^(K%(OFYHU&6KR\H548Y"T559R2Q
MQ8>>>=Z'Y:SJEBK#>QJ667DI5].S;.6(1]:INTH1W6L5]I*M8U683:HQL<M9
MFL^^8QT/&0\6DQ=M#)1,>L99HB!LS`&`:/W55:'L&/@*Y;K>G65:_9XNYLQ0
MD6;)^9PP:2L>W`1<&`XLU4Y)UZ2T5!:'G$$U:_:HRQTZ4L=8FNR;HF)I<U;U
M\\O/VT=5=::[I[6AZVGT)B+:+R4TD3W0*SZZ3>3>BNDBW<.GT@\"'BVZS*'B
M`<NWCHL:S9#(R,I)J/)-ZDU5,33Z82-U9P#`.">2_(C:6I!LKFD0#FW*14I!
M-6T#&0Z$C(>A/0CSR3E)``(X?.4FZKD(]H*S9!S)JL&S^0B(L[R68426[.4^
M_7V);T4VIRM?0Z'TS=[#<T[$:><HN!CCQ0-?):H-NP'19`5N[R2E[^OHZ73N
MZ]O0>G[1SD:2E+WT-0-N<_;4W?F#8P"'S<+ZQO[U"JU"^5Z%80>PWCVY1LA(
MF2/,PZ<L5!ZP[FQ55E12C#S(-H\58Y(\^I!2+UZM&Q#Z$F;*<H9=%/SS1P<I
MO&4O/%W4AG'=^TD:"LX9NT7J06"13%9!8BY`.5M'B).\AC!W%`Q1$O7J'4/^
MG,1UPU92"F.B-[Y@V>MF#F3B)50OL,2-?'+U]OZQ6JI@]G\OM#`=MA")^<>T
M_P#M3;_L3?\`_7/0><EEX\R#F5TW2'[PQ3N7#.3,J8A"IE$23LHF7H0H`4/U
M"%#V?M'V_M'(Q\3PR1:#A6.;-T9DT:GWJNLVU!L%=NJH@NE7'ATUDCF343,`
MI]#$.00,4P?R"`@.:AXEYR,Q\+PS1#5[I;%_[]E__J+O_P#KEB).)1CG4I5/
M44,8ZAZM7SG.<1,8YS1+0QC&,/43&,(B(B(B(B(B.0=7>\RZHKED93G#IS'R
M[^!66_?5?^T"9N"N&J,1TQT9$K7)>)>6&':-)2.=.C/&SDK9N];+N#-FTJ1@
MX<`BDJ904$'R9V2RH%\M)V0[8YBK%$@5)%@;/.>@8!Q%SB$0I--$"B80L[D0
M*7M[C"$2Y$"AW"4O4?V!W&*7K^T0#VYN"N&J,1TQT9&QQ4VS6MA;OHL7"M9I
MJ[8O-:VE4LJR0;$/%79DVFH@R1F[QWU.1!46S@Z@)M57S:0;QCF1"-?J-J.C
MNT,)2:_E+LU,L"9`L,`BU\1%_-QCZFO*\S*_E"1C5(C4[1P]`[-U;8UK*J`W
M:K(+&.WB5GKA-0J@D042*X52712404K!3'Z$H^+#ZR^347`>1O$CN:5]V\3'
MQ9F,I<&%94C17\J5JZ,#%G;2:A'1O22J&EEIAD4RS=F*[=B@Z204;+HO7?8N
M%^<T(9;T,NEM\F2M7Z9M439-.(5]O)+PTWLB1B;\9A!KS"36J%U-M"79.9)P
MW9.U()E[NXFEM2RXJ,DSO73.(4<B$KZ,O$KU\YHYK<W_`)3V/:=N)6:;(5'7
M$*35;VGI7&I1XHWIC.V+8D?9U$92.F)*<BNZOP-=G)N)M<70K-1@L,&#R,<2
M,:XK=^';)>]M/,M9KIW4]LEKOKVLV:>K-HJ$Q(-7*,A`W.+)"V5NYC)!Y$G>
MR,4F1,C$)D&(33)`$D>V/D&@B@@(BD0<=GO<;$P!@#`/X4#JFH'0YNI#!VIG
M\M0W4H^Q,_>GV'']A3^83M-T'O+T[@`CWUQ`\Z!US$:_O$E$LK)8*[,L[+M%
MV_@Y22I$L]UG"MH9_6?5$Z1TZ>Q%[5=S<B$O%6QC*V-*SP,<,#KLE+DE1URG
M93S_`%<N1T5QYBMW,:U+N=\+QQ;6[F7BT;'0D\K/Q$=7I9_(7*.C"O5VK19Q
M)4X;>MJES*J(IC:(W6T-;O1V1IX[%L..7+SROP8AR:L$_")1`5N8)&2Z\-/G
MC4G4H[CHYS)I%;!'^L19*D<&9E<F3*Y.B4ZZ:!U/*#O$`'<"G.Q.DIXF(W*5
MK59RP--<4;1L>0?4J.V99E)6V"WLA)E-*7!P@_*W+-#%OG#%J_>QR#YU%IQ[
M^19QZJ\;'R2KEM&J"R;MS9V)?A5BG.V2O\Z3,ISB5KE;5SY,D5R948!&KS2<
M0$U,RU$F7<LQ)/TV.0<.(P@CW-%GSX5&C@4W;199B_(@HQEFB2[51Y&.731-
MVV.N"Z5(%.%KW^A*)_BN\U[F3\.9J-4EAK#:2FYIW`:^9LG$U/=JDE+C&N8*
M/4DY%R"JAG$D_4*#MXJ(?X5PJJH(]1]O8^%7K)B#B=SS1('DBHP"'ODE*2;?
M=M\10D7Z*1'D6!$DGCA-,@#7XDP@4A%"E+U,(B/0`ZB(C^T<M!PK'-D'5WO,
MZ0X//7CQMLKTMVY=>6O4O+])757[.Y.R=W9YIS=O=VE[NWIU[0Z_L#,[3ECH
M;V?/#4[TR908!7XV_=ZK4;M=CV6::Q!$YZPR)CNBK@068VQ"#!4ADT3E4,,M
M-1+`$4Q,N+B0:E!,05*.75%<LCSR)4^&!@-J!P8H@8IKA,F*(>T!`6$,("`_
MR@(>T,G'7#5E8*8Z(ZTS!L]7.?XEF/W7(?\`XBV`5JKI([92GE6U'CXEU&).
M*&<#S":K=-=&0=75O;4F[Q-%8APBRM:9)/06!L<(E:8;Q3I>=<1C$U[>7G_"
M"ES]]):\^G(GTXT?`=0?]"E?O#+Y*/B>&2*P<*QS9O7,FC46^_@;V+\VGG_W
M3S4'$L<F9CX7AFBOD:H;&4V"SL!+D#6HM;;,R2]:!R^>`_K;VAU^'8L!*HDV
M09NFUQ8R\N+4XR3!!B^](8K-I%8Y$+8DIJ5+95QGD6/Z'_`>F?-2N_9#/(.K
MO>9945RR,KSATYCY=_`K+?OJO_:!,W!7#5&(Z8Z,A5H6I:U7-B1%T;*R3B>\
MZ>8&66="5JJWN-^7O#\5F"()LSKLI%ZHQBW8(E=HQ8F;.EWAA(JE26ORYDYN
M4N5GPI%D;(%Q@'$7.(`-2J:4P`(#9W("`AU`0&)<@("`^P0$/8(#^W-P5PU1
MB.F.C.%]`1$5$[;UJC%1D?&)$LM88D2CV39FF1E&JIMHYH4C9-,I6K!M_P`G
M9-P`$FJ'^"0(FG^KE'1W/(FJJ]9DXN0+C`(N^?5JJ]>N%`1G[)`P:SBMR2K=
M*7F(Z-572+*`0RB*;UPB95,IOU3'(!B@;V"/7V96"F.B)1UPU9K+AA=*=-[T
MB&$+;*S+OCP-C4(RBYZ+?NS)I1XF4.5LT=*K&(F7]8Y@()2![3"`9V/A>&:.
M0<2QR9,CD2PP!@#`-?U;:NN[JW!Y6+;$RS4?U!<I**H($=%F['6UXQ15VDW(
ME-,IZHV:(D8-0Q9>,?PK]M(,FRB700/(@]F:^LUBE:G7;G7)VQ0C1B]E8N(E
M6L@LQ1D3/BM2K*-5%4`="$<Y578E5,]:-A:NG;=!L_8JN0/(8;!HLFR7D6-P
MK:[%M-6FNN'03+!-%&=I$L_@K?$J'57(!7U;EXN08S"`_KL5FBWG@0I>X0/8
M.+76VSE-FI-QQGBKLS$&B#E-TZ(Y35!!<J[=J*RS9-JL8J;Q=P1)NR,8H.U4
M>X.H'LF4I&28'&-D6,@"9&RJ@LG;=V!$WK=-VS4.*"B@%([:*I.FQS="KMU$
MUDA.F<IA`CJY]23"&5I,O*.D6,9%P5LD)!ZX-V(,V3,\6X=.ES]![$4$$SJJ
MGZ="D*8P^P,IL^>&I*.JNU9H[AU8(B;WS%MHQT9RM`N+1#RI#-G;?T612J[]
M91N!G2")7``DLDH"[4RS<Y3E$BILU%PO#-'(>)8ZDRF1+#`(A>?%D2JNRXJ2
M6;@Y([9ZUK@)BX*V$JEOO051!P4YTU"J"T7F4G0M^A#."(F1(HF<Y3!6#AQS
MDB,5L3\HIGN/#SFY.P6ZSR,O%L8AZ6MV6.49QTLO-L^D-=V$/Z2C(N(B#563
M=F8F<I@,<D!4U2`4ZH=%!1TQT9V#B=WTO)8LD5&`05\VZ=(7/<5L91TP,*HS
ME'BBSH@O2J'3F=0S-10*F9@Z8N2BSD+(RF`,F[04`T67R%D'0H.4+0\*QS9&
M<HGSMUGH=9>')!NZU3+=7WTDK,.X=E1H]:47*0CA\9LWLB8.'`(IH-Q<*%*4
M5SM6K!FHMWG9QL8U,C'MLQ\L=#4'ZN5*8DD63*#`*]6[-=5*^7.]-[3'&DV[
MJ2M4`X;'<N$FRT6[MK*:=-5D$E")+IN'\!%F7(N14BS=!1FJ0[1T[17NN%7(
M@FU3SR9*_P`+DRI:>62)W=B=NETR]QSJ&[21\,4O<=0QCG-T`.ISF,<P^TQA
M$1')QUPU92"F.B.MLP;/46!5-&`FUEE"(HHQ$DJJJJ<J::2:;)8YU%#G$"D(
M0H"8YS"!2E`1$0`!'`*VOY^]%_\`73J;ZQJ?_P!\YZ#SD['$Z<A;)Q[UM-UV
M8BYZ&?L)D[&7A9!I*1CTB5FFVZIVC]BLNU<%372504,BJ<"+)*)F$#D,4(Q\
M3PR1:#A6.;.B<R:.>.65UK6N>-VX[S<9`8FL5BDR4K-R16;Z0%FP0,B"JX,H
MUL\?N>T3%_P35JNJ;K^J0>@YJ'B1F+A?G,K*_I)^&7_6XO\`5[LW_P#QV6(E
MK/5$S'6+5VMK!#N!=Q,[0:=,Q;H4EFXN8Z3KL<]9.!0<IHN$16;+I*>4NDDL
MGW=BJ9#E,4(.KO>9=45RR,^SATC<\5W?7O;.'-KVI[E/=GZMN%#B_47KSW.^
M=ZYGDF7G^L_4\[Y?HW?YOE>KU/.Z=GF)=>[-P<5Z_P!,1TQT95[IOC%!*V^J
MQ?O=1;^LK)!L//\`SM@KY/IDFU;^;Y7YLD_,\OS._P`OS$^_IV]Y>O<%22ML
M+T^><]`P"OU^4(;MVEH_06AYK5=N=U"4F=OR47)NVC&)?'=L$Z7+.R-C$EX^
M02(4'"2:O<DFFH(E`!.)>I1W!7#5$]IRQT(`/#XYM<I+QS?XKU"U;;EI>MV3
M=U"B)N+6A*F@D_CGLVW1=-5%FD`W=)E53,)1.@NDJ7KU(<H^W*.CN>1A55ZS
M/H"9`N,`IM_E-GP\<9?HCM?WR#*;/GAJ3VG+'0Y!_)_?XR&B_1KM?[KJ9J/A
M>&:.05PU1?BR)48`P!@'+\GQ`TI*RJ\XO$S*4K(*5!::<-)MPV:SSFC&$U??
MRT,F0()282\B$2>3S6+:3LBTJU:CWDDM'QGHJP3U^3S*7Q3U30+/%VRKHSC"
M4A58->,(+UBHS:+5^@6C7#$Z3<8L!`%(2XSSMXEYGD.YARB[52%!FT:(A-F-
MSW"?2%C92T;)M;$I'S;84'[0LJU,F9=9KJ)J^D4%%XQ9PT?R9-'Z_5?J-EDD
M55V4DLF@D:8?^:.S?7RWZL_U?A3I)TRL;%RUL"I;3Z665>I2,>PF3H.W$@J"
M1)V,B&4R99JVD!C&\HX?.)L8UE%MW4HY-&,U$@GYR[&V=<:6JVLI^W6>%?ST
MA,79A5H^<6F%XH4!2J8SZS$[!E$1$0SCQ=/K1.R+QNV0(P27?>CQ;.-C&S1@
MW'#C'Q!X1C9F]4KDF"HQL_6+I"R)4%/*7,QE"QS%X5)7M-Y2AFZZA2*`41(8
M0,7V@&4@_5AJ2CLB3]EFS4/$.-:L-\0SAN4X+2ZECDGYSG,<571*:M&)F*4?
MU4RIL8UDW*1,I2B"/F&`RIU%#ZCX7AFCD/$L=28K(EA@$4?-)PV2V^U(LN@F
M;W'0ANU15,AO_7YGH;M,8!_:'L'I^T/9E8*8Z(C'Q/#(]UP><-E=DV@B*Z"@
MEH[H>U)1,X@4)Z!#KVD,/0.H@'7ITZB`?RXCICHSL%<-42A9(J,`JE>('XEN
MK]'\PMUZKGJ!?9B6J,O7&KR2B#5X(YT=_1ZQ,)F;`\EF[GM(C(II'\U$@^:F
M?M`2=IAM!PK'-D(N)WYVD@?@W<O:;RNC^0J]1J]FK1:*\U<D_"R&BA%X-C1V
M`=L+/U8^>AT0"#7!?SO+'JLCY??^OVYVG+'0WL^>&I-EDR@P#Y\'(/Q+>5%:
MWYN^N15@J:<7`;?V5"1J:M-B5E2,(JYS3%F158X=ZJA6Z"93J&_64,`F-[1'
M+JBN61!V-KW+2?@=;QO_`"!X82M[V0\CWUA1W9>8`BT9&-XEL$='P%)<MB"U
M;?X,5"JOW(F5_P#..!B@/L(&3CKAJRD%,=$3&9@V:SW2(ETYMDQ1$IBZSO@E
M,`B`@(5:5$!`0]H"`^T!#V@.`?*[ST'G/H>^"6(CX8'%L1$1'U=M(.HCU]A=
MX;,*4/;_`"````!_(```>P,EM.)W0_U1:#A6.;)4\P:.`/%1_B[>7GT-6'_>
M-,U!Q+')F8^%X9H^;9W%$>@&+UZB'3J'7J'01#I_TAU#J'\G4.N6(GU'.+?Q
M9>.GT$ZB_L_KV0=7>\RZHKED;VSATA5\?_\`BW+_`/2-J?[VM\U!Q+')F(Z8
MZ,H?:MDVKK9>OD4@<`H>Y5]0OFM7*)1!E9H]HY*)U4B%!1-<Y`[!$#'(8%$P
M,GU,%C"A::=E5S3K:J'U:\\Y88!6B_*;5`1XT<>53"F4J6ZYA03*G\I(H$H,
MV8144[3^6F`!U.?M-V%ZF[1Z=!W!7#5$X_TXZ%9CPNI0\AX@W#\ID$4P)O35
M+GO0=>ED\Q[.E%1`3@@D4#(>04P>T3J)+)*'21[BE-1T=SR.2DU_+I*C5OS_
M`*SZ8F0*C`*9OY3\#DVZN-I6?I`.3:@M143-1:@NF<UT*'F$]-$K8WEAU.8B
MH@"A2B0!`Q@$*0?JPU,12G#.4K:SMI98<@_D]Y79?$AJ(NC&$IZ#MH[4I_*[
MTVPU(@`F;RA,7H"X+F)U.<WEF)W>7_Z%/47"_.:.0RG9Z;;YX%Z._,+@ZLFG
M'E8]9'B(;9$C(7]"/EF\<DXJ"^IMH0S5.2:.)!B2;8I7F5I;LL84CU5)\V9S
M!&G_`(*%RWB5ZW6=UH<S1M)Y5V:S6>9L%JD:4Q]V\98J4PCI*-\IO"JVZV%3
MKMB9,;188-Y%06L8_73>9:(0Y1F]@3>RT"+3#!>DW^FA9R\NQ^)>\^HM3N+V
MYUY63[+@6M9NJ;1RUF89I.C94VY6,@\91:ZLX9=T:0>2,,WCY*04,Z=&3?NW
M*!G3@R0K''/DV)@#`&`,`8`P"L1^4&\H=U\>;GQB9:FM;>MMK16-H.IM->NU
MN<]+7BY6EI,CE//14D=OY2;UR42MC)%4[P%0#B0@EIL^>&I*.JN.%_!QYN<D
MMR^()IS7NP[VTFZG-0^TEI&-2J%.BCKJ16KK?*L3`^B()D_2\E\S;K""+D@*
M`04U0.D<Y#:CX7AFCD'$L<F77\B6&`46?RC'^,`A?]7G7/WGV'E8*8Z(C'Q/
M#)&Q_P`FC^.+NS_5HFO[4M78CICHSL%<-477\D5&`?.F\:1TBV\3?E(545`%
MQ:J.BD)$5E2^8.I:$8"G.DF<J7=TZ%%42`8WZI1$WLRT/"O.9*)-Q.7*7-+D
MNI,_^2\+I.:_S.<(F[T7#[CTND?H8O<DJRW*HF;M,!3%[BF`>A@`P=>@@`^S
M,Q\L=#L%F\NDM2UUDR@P#Y9?+2349<GN1B:9&ZW9N7<KP4C+BFY$R.P9X$P(
MD"9^]-7]<O<'M`Y>@]/8!KJBN61*2;=>*7FN1=*_)SOXO^:_UAMC?=C7F3CK
MAJS4%,=$3U9@V:RW7\#6V_HROGW5E<`^4\[8R"ST5DCB1`5XT_0)>00_P;10
MRRYO1$VYVX&6Z@W4;@?R':'4S@P*`0"7M\^?^?)%-2D_?DN?TKU7)KG]%KP2
MOXL#BY^[]I_VX[,R>TXG=#_5%(.%8YLE4S!HX`\5'^+MY>?0U8?]XTS4'$L<
MF9CX7AFCYJ2</V/RO1,R'H^=/NA(\4U_,7:`R(8'`.QZ*D;@*:RGDB1R4W4R
M1%"E4"W0GO62MHE7HYY]CZFW%OXLO'3Z"=1?V?U[(.KO>9545RR-[9PZ0J^/
M_P#Q;E_^D;4_WM;YJ#B6.3,1TQT91`U;'-6NR:`HB"X'"X59$/,>/%R^6-A9
M*]!(NNH03`<QA!02BH!1$@'`GZN6,)MM3ZKH?5ISSEA@%:;\IG^+=QT^F^5^
MX<UFX*X:HGM.6.A6L\,W^,$X=_ZP&N/M]KE'1W/(PJJ]9GTK,@7&`4V_RFSX
M>.,OT1VO[Y!E-GSPU)[3ECH<@_D_O\9#1?HUVO\`==3-1\+PS1R"N&J+\61*
MC`&`,`8`P#F'8]\VY5-E6$U?JLY::3`ZMA[-#0D5#2)R6RY%)M]:PUPDVPI=
MC`K\C:!UZ9DS4FJ\JDXE$TV;:SO)9O"F'94MYVW6?4U5+\IMYP,&O99CC)(1
M4*VB(F1<NY2R6%B5FHYUS#V>=2?D4U\9TT/`7672H2;86:B]B73=OJ^+UW&2
M<.V"2Z^3OE:K3H+2FQ=D;!9RZVQM6GU8^C&M:`(EQ)STJY5E9.-5?32*3Y_3
MZ]!242S*:-5C)6!EY=V8S]Y#6J'J%C@GL4L.>>>=RK;^5$*+)7'B4HW$P+EI
MFX?*$K=1V/F#-:_`O_)T>JB@=1_6[0$2EZG$!`H@-(.>&I.*6\ITE=U(W?`+
M7DE_$XTCZP0*CV1>Z"-S%(9/S42ZAOH)G\LYCF`#(@BKW&'KWJG3$`%(<U%P
MO#/S_LPDE%#)\K><G+J?0ER)08!1*_*0FIW?/J!23\OJ706L5C&4,H02E1M>
MPE!%(R7ZQ5>I0`H^SH`FZ&(?M.6L%,=$3;E&W;A<C8?Y,:Q6CN7&Z&J[H[Q0
MG&F;ZK'[NH_^5'5A>OZQC&ZG$HJJ=3#_`(513H/;T`$?"K]&(7.*DOP_3RXN
MY9(H,`^=/XT39)?Q.>4BJGF=[>STDZ78NND4#'U+02&$Y$E"$5_5ZE`%2G`H
M&,!0#N-UM!PK',E$VHHO>4[$^2ZDSWY+RBFW@.9S=$O8B@^X](I$`1'L329;
ME(0O4PB8>TI0#J81$>G41$?;F8_TXZ'8/U8:EKK)E!@'RY.47QF>17TZ[<^_
M]@RZHKED0=7>\RYC^3G?Q?\`-?ZPVQONQKS)QUPU92"F.B)ZLP;-:;H(933N
MV"$*8YSZTO9"$(`F,<QJM*@4I2@`B8QA$````1$1``#K@'RZ?S?7W_(BW_[-
M3/\`P6>F3Z/LSSGT&/!88/HSPRN,+&29NX]ZW8;1*NS?-UFCI`3[NV4H0%FZ
MY$UDQ,F<BA0.0HF(8I@ZE,`C':<;NA_JBT'"L<V2DY@T<*>)O"REBX!<KH.%
M:*/Y63U%/-6+-(R9%'#@ZC3L2(98Z:11'H/M.<I?9[1S4'$C,7"_.9\\CWN&
M[?\`J_E/^UP__>.>C<BZ?*^I$^EKQH9N8_CCQ_CWJ1D'C'26J6;M`PE$R+EM
M1(%%=(PD$Q!,FJ0Q!$IC%$0ZE$0Z#GF=7>\RZHKED;MSATBA\:37)MJ<$;G3
MRS`00N[UK=WZP,P&2!/T"R(N/+]%!XP[O-[>SO\`2"]G7N[3_LRFS6]&E2IB
M.F)3YH7!U5G>:8[_`#FIJ>BVRNN?+]QQB=_D3#-7L[O=0;M[NWM[NTW3KU[1
MZ=,]#@DFYT]O])*QI]#Z,F>,]`P"#7QU-45C;.D=*Q5H5EDFL7M20D&PQ+M!
MHJ*YZC)MA!4Z[1X4R?EJ&$"E(0>[H/=T]F6V,*;<^A/:<L="#K@MQ1UC4^8W
M&JS1;JUGD8/<-)DV17<JQ5;&<-9=!5(%TDXA$YTA,4.\I54S"'L`P?MRL<"4
M,3MH855>LR\?GD+C`*]WC,0L/*;/TRI)Q,9(J)4.=(D=\P:NSID&P@82IF<)
M*&(43>T2E$`$?:(=<]&P2:BFIVZ$HZX:LT%X5M?@8[E]67,?"1#%R6G7DI7#
M.-9MERE/"F`Y0511(H!3![#`!NA@]@]<UM4E!8E5'(.)8Y,M'9Y2PP!@#`&`
M,`8`P!@%0O\`*=DSGOO$+L(<_2H;@Z]I1-TZS-`Z=>@#TRFSYX:DHZX:LCH\
M"))4OB<:',9-0H!!;CZB8A@#X';Q_*(=,U'PO#-'(.)8Y,^@7D2PP"EWX^VA
M]D;(YRQ%AJD6R>19-#T".,LXEF#)0'3:QWQ54GDN5DU!*4CE(0/V]IA$0`>I
M1RVSA;AFES]O8C'Q/#)&P/R>/2.PM9<L=PS-NC&;)@^X\2\8W4;RC%\<SP^R
M=;.BD,DU64.0HHM5C>88`*`E`O7J8`%M(6H5-<]&=@KAJBX)D2HP"D+XIO$R
M.V'SYY$W):[/8M6<GJDL=@E"(.DVXMM<4UB!2N#R2!E.\&H*"(I$Z"<2]!`O
M4?3LX)P)SZ\O=^Y&*V)^4L)3/R?S1[32\7RJ3:V)Q/\`NB?Z7.<7$<G'^B^J
MF^TBE`@)NW7F^=ZQ-W=>SL\H.G=WCVXVL.[NVSG/0UL^>&I8NR)08!1GWEHG
M4+_=>X7SR@P3AV]VEL%VZ7427$Z[EQ;)=9=8X@N`=ZBIS'-T``ZF'H`9[(88
M=V&S]*YOH0=7>\RQ_P"#I4JY3.)<E$5:(:0D:?;UQ>&9LBG*B+I:$J":JW0Y
MSCWG(BD4WMZ="![/V]?/M5*.2Z(I!3'1$K.3-F#;/^#78?S&MOV!(9U55ZS.
M.CN>12PSWD"U3X</Q,=-?YE^_M0NN>/:_F18?U1:#A6.;.W\F:.7>:WQ4=[_
M`$?RO]=#-[/CAO,Q\+PS149SVD2Y[I?X'=3_`$:43[K16>!U=[S+JBN61LO.
M'2/#Q1?BCV?YVT?[<2RNQX\&8CICHRM14/X65?YQ0GVDVSU.CN>1(NS9X#T#
M`(@?&&^"34WTC/ONS(9?85BN69/:<L="(;A[\:70?THU/[31RVTX(KC"JKUF
M6]\\1<8!`#XQ7PF:=^8LY]OAGIV%(KUD2CKAJS0WA<?&WK7S0N_V,;-;;@Q1
MR#B6.3+.^>0L,`8`P!@#`&`,`8!`[XR/\)]#_N&^_:%7ST["D5ZR)1UPU9R;
MX9_QQ]9?NV__`'`LF;VOY<6']D<@XECDRTIGC+#`*UWBR?&CC_HJJ7VS:L]>
MQX,61CXGADC+?"`^'W8GT/R/WTI><V_`OY+)G8*X:HL29Y2HP"J%X@_QQ-V?
MO>M_<>KY[-E^7#C_`&9!U=[S)!?!I_Q?R&_TS5O^YV#D]O\`H_\`6AO9\\-2
M;C/.4&`4P=S_``P[7^DJ]?>B4SW0<$/\8<D0=7>\RP/X3?Q7)#Z5;;]C57/-
MMN/!%(*8Z(DWR1LP;9_P:[#^8UM^P)#.JJO69QT=SR*6&>\@6J?#A^)CIK_,
MOW]J%USQ[7\R+#^J+0<*QS9V_DS1R[S6^*CO?Z/Y7^NAF]GQPWF8^%X9HJ,Y
M[2)<]TO\#NI_HTHGW6BL\#J[WF75%<LC9><.D>'BB_%'L_SMH_VXEE=CQX,Q
M'3'1E:BH?PLJ_P`XH3[2;9ZG1W/(D79L\!Z!@$0/C#?!)J;Z1GWW9D,OL*Q7
M+,GM.6.A$-P]^-+H/Z4:G]IHY;:<$5QA55ZS+>^>(N,`@!\8KX3-._,6<^WP
MST["D5ZR)1UPU9H;PN/C;UKYH7?[&-FMMP8HY!Q+')EG?/(6&`,`8`P!@#`&
M`,`@=\9'^$^A_P!PWW[0J^>G84BO61*.N&K.3?#/^./K+]VW_P"X%DS>U_+B
MP_LCD'$L<F6E,\988!6N\63XT<?]%52^V;5GKV/!BR,?$\,D9;X0'P^[$^A^
M1^^E+SFWX%_)9,[!7#5%B3/*5&`50O$'^.)NS][UO[CU?/9LORX<?[,@ZN]Y
MD@O@T_XOY#?Z9JW_`'.P<GM_T?\`K0WL^>&I-QGG*#`*8.Y_AAVO])5Z^]$I
MGN@X(?XPY(@ZN]YE@?PF_BN2'TJVW[&JN>;;<>"*04QT1)ODC9@VS_@UV'\Q
MK;]@2&=55>LSCH[GD4L,]Y`M4^'#\3'37^9?O[4+KGCVOYD6']46@X5CFSM_
M)FCEWFM\5'>_T?RO]=#-[/CAO,Q\+PS149SVD2Y[I?X'=3_1I1/NM%9X'5WO
M,NJ*Y9&R\X=(\/%%^*/9_G;1_MQ+*['CP9B.F.C*T]/,4;;5P`0$?=%"^P!#
MK^K)M0'_`.0^P?\`H'V#GJ='<\B1=GSP'H&`1`>,08I=1:H,80*4NQ7YC&,(
M`4I0K$@(B(C[```]HB/L`/:.7V%8KEF3VG+'0A[X8R,?(\H=`*Q[YF^24V53
M'2:K-T@Y34;.9),S9P0Z)SE,@X*0XH+%$4U0*84S&`H]+;3@BN,*JO69<#SQ
M%Q@%>WQHYJ,KUYU/,3+HK*-94.8,X<F365[/.LJ3=$A4FZ:JZRJSA9)%%%%)
M15550B:9#&,`#Z=C9#$WU61*.V))=-6:%\*.;BISEI$*1+Q-ZG'0>Q(=Z=,J
MA2H2<=$BD]:&%0A.Y1LH/EJ&3[TP.!B`<3%,`=VKG`_:)(Y"FHE._!JPLLV^
M^05(7JJ,X64`+?:(NH1:\?%O))!&9F5?1XPL@9HFH=JW<NS)-S+@FH#5(ZTH
M]*WA(R8DX[REC74]R1U55;:^I5EE)6#F(^:@X1PK(P$JC$@I8DA&+?%EP;&8
M>@'<AZ.Y$ZY'C!L)+"^9MZBJE83A+RXW:P>)R+%E())N44GS1N\31>-U6CM(
MCE$BQ4G;1<I%VKE,IP(NV6(55!4ITE"E.4P`!Y>`,`8`P#`%-I:^0M%DIKNU
M1,?8:BRJC^P-)-?U8@Q1NYYTE83"0?E;QSIW)^YR6.5BS=+O&Z2*"KI%$CUF
M9<#V%0OU,OC--[4;/7[`48N%F'",+.0\RNQ86%H=[#+O@B'S])!*2;I+J,5P
M5.V?$;KJ,EW"21E``@\\:>580<II:8E'`-8Z,JVQ'KUP)%513;MWE944$B*!
M%5UU!*7M2;MTE7"Z@D10245.0AO3L;(8F^JR)1\2N6;.2?"]F8V7YE45..<@
MY-#EO\5(=J:Q"(/_`,V,M)&;E443(FN)&DDT%4[<RJ22YU6BARNFSE%+>U_+
MBPS1R'B6.I:HSQEA@%8CQC[9$T_DI!2$NH":4A1=<0#4!5;H][V;M-D8HB*C
MI9!`J;8BBKU<!5\T[=JL1LFX=&1;J^K9.4"GZI>9DHDW$Y<E/!(R_P`%.TQE
MSW#>;!$>>#)[IV1.FF[06:NTBFN5)43*Z;+IIG15.@HBN!0[TS)JIJ(JK)'(
MH;FV<X$_W+)G85*)I]'F62,\Q08!4&\4&Z+T[E[MI1O!2$VI(3D800:MY$[9
MJ1AK"$D"B[=L8Z13:G=N4&S-`'8-DC$5<N"K',S]&7]4#ELX;)\6;[$93B=L
MK=22?P1I52<J6\9=9FI'K2)=3.E6*W7S6BBK;8`G;JCT[3*)&ZD,9$ZS<Y@$
MS9RZ;BDY5QMK5!RXM#4'ZN=+>M2=+(%!@%'?D_+7J.W3M3W(QR$D@2\W51RD
M9FZ4<).%]AG;G73.<B+%\5&(]:JE8MY%"01<D;++-7;1P!F_LA;4$,E/\$/+
MV7DJD;-YSL_$]=2R3X2!W*G%)<[Q(B#L^S;,=T@DIYJ:+DT%4A7235Z!YA$U
M1,0BG0.\H`;H'7(;;CP1N"CO^A)_DC9@VS_@UV'\QK;]@2&=55>LSCH[GD4:
M9F)M:U@.\8.I(8Q22J@D22E4V9&3>+=*O)<Z34JOHSR.E$5!CI%J\:#)F.J9
MTB[<MFD>Q;>UISG;5<Y27.\CRIUQG]/$6\/#A^)CIK_,OW]J%USR[7\R+#^J
M*P<*QS9V_DS1R[S6^*CO?Z/Y7^NAF]GQPWF8^%X9HIJM*W9T;$E)*S:ZL:%H
MFIA5HO-RCGI#NZ^:*8PJ+!)K'Q@MDY$$)A-%PDOZI406(DXE'3T\BAZY.?M/
MJ^E)4Z7>Y*:E@N7.?6?G2PO`Z7^!W4_T:43[K16>)U=[S+*BN61LO.'2/#Q1
M?BCV?YVT?[<2RNQX\&8CICHRK'J;7;*KW^GRB+KS5F[I&)!-,LB1,2S-T1LC
ML0!_,2@^0B\.8K$AQ4>HIK.$W$B\;>@MH_T;LD_XM4QZLPXI]Y_$O8O5YXBP
MP"'?QE&J;[2^L62O;Y3R^2K53O10<$\MQ5))$_>W=)K-ER]IQ[D7"*J"H=2+
M)J)F,4;["L5Q./\`3CH0L\$Z'%5#EEIA[&/)549?9FO4G#9X\\YHEZH",AVQ
MT$2IIE(?T*/;)]3=_E%***'E-@303K&I016NG-F4YM4KFYER[/&6&`5\O&=C
M6<Q?=31D@F=9B]H,XB[0(NX;>>@:PE%1NHHV515,W7*`I.4>_P`IRW.JW7*H
M@JHF;T[&V&*]9$H^)7?4Y]\*"`B(#EM&!$,RLPEX78,W)"5194SN4>0::3EV
MH9=14P'43;()]A!*D0B1"ID*`=,[M5*!^\29R%SB7M9\,LN6^B05Y-`DL0.G
M;"OSL/9FT2"B)8YU/5N;B;+6)1V4S<[H'E;L<'%S,2NR=,E".6YV[HSJ.=O6
M+CREC'H_3U0:/IB5>^M9Z8GTJJSF9F;?%7E).)I#R>E*G#/GK-!BJ\CX.6L]
M@D6PN15?+J2B[)\]=1";:.0`]YK?756U/2X:@4IFX85J!]8C'-73YU(KIFE9
M5]-OS*.WJJKA3SI*2>+%()P20(H5NW32;I))$!N=K,XP!@#`&`:8L?'K3EMF
M#3]BI3:4F53OU'4@M*SZ;B04?SL!92GE1;RR)9<T1-5:O/:J,F5W[C?5+1M4
M_4K0ID#!-^8_5GM=;Z6UMJ0\@IK^OKPAY2%JU=>"O8+-.@:$I*,HWJT:@6PS
M,L5FWB$)J221!F#<RQ'`%=&7!!MY(3GGW(7?&JAHJPRFDX6<CF<M$R-;OS=[
M'OT$W+5RD,E5C@51)0#%$2'*15(X=#I*D(JD8BA"&#T;%)PQ)VIO0E'Q*[ZG
M(GA;5N`KG,>A!`PT=#EE4K](R)8YHBT(\?!K6;8^E+$1*0AEA:LVZ9C@4!.*
M8J'[E5%#GIM4ELXI>V:.0MN)3Y32NM+5^>,L,`K5^+0FFKRACR*D(H7\UE//
MVG*4Y>].<M"B9NA@$.Y-0A5"&Z=2G*4Q1`P`(>O8\&+(Q\3PR1E7@\MT&N^=
MA(-D$6Z)-/R8D103(BD7ONU-.;M33*4A>XYC'-T`.IC"8>HB(YS;<"_DLF=@
MKAJBQ5GE*C`*H7B#_'$W9^]ZW]QZOGLV7Y<./]F0=7>\R07P:?\`%_(;_3-6
M_P"YV#D]O^C_`-:&]GSPU)N,\Y08!3!W/\,.U_I*O7WHE,]T'!#_`!AR1!U=
M[S+`_A-_%<D/I5MOV-5<\VVX\$4@ICHB3?)&S&[D4IZA:B'*4Y#UN<*<A@`Q
M3%-&.@,4Q1Z@8I@$0$!`0$!Z#[,ZJJ]9G'1W/(I-Y[R!:\\/<I2\.M*`4I2@
M,39C"!0``$Q[U:#&,(!_SC&$3&']HF$1'J(CGBVG'%>6@X5CFSLS,&CEWFM\
M5'>_T?RO]=#-[/CAO,Q\+PS149SVD2Y[I?X'=3_1I1/NM%9X'5WO,NJ*Y9&R
M\X=(\/%%^*/9_G;1_MQ+*['CP9B.F.C*U%0_A95_G%"?:3;/4Z.YY$B[-G@/
M0,`B!\8;X)-3?2,^^[,AE]A6*Y9D]IRQT(AN'OQI=!_2C4_M-'+;3@BN,*JO
M69;WSQ%Q@$`/C%?"9IWYBSGV^&>G84BO61*.N&K-#>%Q\;>M?-"[_8QLUMN#
M%'(.)8Y,L[YY"PP!@#`&`,`8`P!@$#OC(_PGT/\`N&^_:%7ST["D5ZR)1UPU
M9R;X9_QQ]9?NV_\`W`LF;VOY<6']D<@XECDRTIGC+#`*UWBR?&CC_HJJ7VS:
ML]>QX,61CXGADC+?"`^'W8GT/R/WTI><V_`OY+)G8*X:HL29Y2HP"J%X@_QQ
M-V?O>M_<>KY[-E^7#C_9D'5WO,D%\&G_`!?R&_TS5O\`N=@Y/;_H_P#6AO9\
M\-2;C/.4&`4P=S_##M?Z2KU]Z)3/=!P0_P`8<D0=7>\RP/X3?Q7)#Z5;;]C5
M7/-MN/!%(*8Z(DWR1LQVW_P3M'S=F_LUSG557K,XZ.YY%)G/>0+7OA\?$[TG
M^Z+)]^+1GBVG'%>6@X5CFSLO,&CEWFM\5'>_T?RO]=#-[/CAO,Q\+PS149SV
MD2Y[I?X'=3_1I1/NM%9X'5WO,NJ*Y9&R\X=(\/%%^*/9_G;1_MQ+*['CP9B.
MF.C*U%0_A95_G%"?:3;/4Z.YY$B[-G@/0,`B!\8;X)-3?2,^^[,AE]A6*Y9D
M]IRQT(AN'OQI=!_2C4_M-'+;3@BN,*JO69;WSQ%Q@$`/C%?"9IWYBSGV^&>G
M84BO61*.N&K-#>%Q\;>M?-"[_8QLUMN#%'(.)8Y,L[YY"PP!@#`&`,`8`P!@
M$#OC(_PGT/\`N&^_:%7ST["D5ZR)1UPU9R;X9_QQ]9?NV_\`W`LF;VOY<6']
MD<@XECDRTIGC+#`*UWBR?&CC_HJJ7VS:L]>QX,61CXGADC+?"`^'W8GT/R/W
MTI><V_`OY+)G8*X:HL29Y2HP"J%X@_QQ-V?O>M_<>KY[-E^7#C_9D'5WO,D%
M\&G_`!?R&_TS5O\`N=@Y/;_H_P#6AO9\\-2;C/.4&`4P=S_##M?Z2KU]Z)3/
M=!P0_P`8<D0=7>\RP/X3?Q7)#Z5;;]C57/-MN/!%(*8Z(DWR1LQVW_P3M'S=
MF_LUSG557K,XZ.YY%)G/>0+7OA\?$[TG^Z+)]^+1GBVG'%>6@X5CFSLO,&CE
MWFM\5'>_T?RO]=#-[/CAO,Q\+PS149SVD2Y[I?X'=3_1I1/NM%9X'5WO,NJ*
MY9&R\X=(\/%%^*/9_G;1_MQ+*['CP9B.F.C*U%0_A95_G%"?:3;/4Z.YY$B[
M-G@/0,`B!\8;X)-3?2,^^[,AE]A6*Y9D]IRQT(AN'OQI=!_2C4_M-'+;3@BN
M,*JO69;WSQ%Q@$`/C%?"9IWYBSGV^&>G84BO61*.N&K-#>%Q\;>M?-"[_8QL
MUMN#%'(.)8Y,L[YY"PP!@#`&`,`8`P##5-=T%99RY<TNK/'3QV[?.W;Z!C'S
MMR[?.57CI99T\;+N%#*.%U#@!U!*D42I)%(B1-,O9OJ^YR2Z+L:-V](:@UM)
M4B/E-4:WG7%PDG$6V0784YA(Q9/.CFHV):.?Q2BZ],AW<BS->)Y@99Q4XURV
MF%(F38E?*1Z;ZONSNZNBL]C&J7<](6BQ4R$CM"-8EY<)!TQ;OW6L8I!E`BGK
M.,V8FWL4HA"FCXF:7C908A6!4?"]0DV+XB@F0]#4>)OJ^[&ZND/Q=Y(Z5_-O
MKO\`R"I?^RT'_P`#B;ZONSDET79'XMM7ZV:-V[1"@TTJ#9%)NB!ZW$+'!)%,
MJ:8'67:*+*F`A0`RJRBBJ@]3J',<1,*;ZONQNKHNQSKMFV:7UM;V=;E-,4:T
M.7-6D+(KZHAJ:\GXYO%MYA^1M(5QQ&!)))65"%D(:AO&ZCEM8[R#>H.O4:\C
M&R#U-]7W9W=71=O$9)K]?5%OM3J!C=,4>)11@9>2]<)0=3<@X=P=\GJ3)Q1F
ML;%*+L")'AF<RU=3BD4$TTF$25]K+GA+.I!IOJ^[.;JZ+L;E<ZOUL[;KM5Z#
M3A1<HJ(*@G6XA`XIJD$AP(L@T362,)3"!5$E"*$']8ARF`!!-]7W8DNB[(_?
M\V^N_P#(*E_[+0?_``.)OJ^[$ET79'-%GMVE839;_7[G2M"G'K>2J$<K,1,/
M39,&CNV/X6(2C;`R]4A(0D]'FGXVRJ1C@JZ+K72$S;V4@JI`2L&V3?5]V=W5
MT7/ETPPO,GTS-:3VN$X2O:BKM?6AHFAR[U"0H\$U!RVO560LT:HV<(18-'*;
M4%GD8H4RY7PK,5)+T!*"E:]*S2;ZONQNKHNR\T-TN-7ZV<D*FM0:<)2+MW!0
M)6XA$?-:KIN41$R+1,QB`LD03I&$4EB`9)8BB1SD,F^K[LY)=%V1^_YM]=_Y
M!4O_`&6@_P#@<3?5]V)+HNR.07>T-%-[+9Z^IHJC2AZ],*1JDW`P](G89\(O
M9MNJN+Q")(LQ7A%X!]#7-M)-VYJ_;WU;A&RLW'6:*L*R;ZONSNZNB[+SR\Z-
MI=.H\PUFS.M2:\@DHVSS4*Q]60\))-)5I%+$:FDN\U;ACM'97I'D7)1_HSE%
MG)QCQ)G*2S#T61<IOJ^[.271=D94KJ_6RRC952@TT3M%C.$!+6XA,"JG;KM3
M"<B;0I%B^2Y6`$URJ)`<2+`0%DDE"-Y]7W&ZNB['Z*ZYUR1-0YZ#2A(4AS&`
MU7@"E$I2B)NHG9%(`=`'J)S`4`]IA`.HXF^K[L271=D<=U[:VAYTR9"Z%HYR
M'EPB22<-#T6=KK\OK>IQ:,W#SJ,6V:OJ[.%N<:ZJC]T2.=S`P5[8O8V%D*>\
M;.4WU?=G7"ER7;SSV.AM51^K=DZ_K=VCM4UBO,YYJY72AI&H03=['BVD'C!5
M!PCZL1\L_G-%#]HI)F[3E$Y"F$0Q-]7W9S=71=D9V;5^MC.$G8T&F^>BBX;I
MB%;B`("3E1LHL!D0:`BH83M$!(JHF95("G(B=,BRY5$WU?=C=71=C'KI5M7U
M:I6*R2%$UFFRA(A]).3V"(@H>$*FT0,J)I64&$DC,&`"4/27*4;(KI)=QF\>
M]7\MJJF^K[L;JZ+LCF*-VGHZ2;JK!QS@69T/7`N2.JG2%TF"4)(.XZ17>NX=
MC+-ETHY*-?6:1)`*3SKW$KUZQ0[:;4LD=%XF^K[L[NKI#V_PZIK-.UW8*W7Y
M[\UM>@O7<)%2_J.:ID$PF8;UDP;O/54LQ!F<&<G'>=Z(_:`<X-W2*J(&-V=1
M3?5]V<W5T79'M"ZOUL5RJ["@T[SUD&[=01K<0)!2:J.5$0*B+044S@=VN)U4
MTRJK`*9%CJ$00*FWGU?<;JZ+L8/L^(U90:3,6N2UQK5\WC!8]K"9CZE`-9!P
M[?MF3:.;R<K&J1Z<M(+N",H-N\%NU?3*[%B[?Q;5PO)LTWU?=C=71=CE[\^.
MA`?QC8G'FLJ&?PKN<.S1KE)-9(]-K6&5R;MG-:]5E?F<RC!TYI<69J=PW6W1
M#R^K5EVSQNA-.DWU?=G=U6V0V>V5F-QW!^;?7?\`D%2_]EH/_@<3?5]V<DNB
M[(_%'5^MF_F^50::'GK*.%.ZMQ"O553IWB7S6A_+*/:'1)/M2)_S"%ZCU3?5
M]V-U=%V-1;K<ZCU-66EBF-44.QIJR"K=*!)$5!I8)3R(Q_).4:E'2D>5"PSJ
M+5BL]&$!Y'+.8MK)*,73N61C8.83?5]V=4*?)=O\,'I5OTE;+3&P#'3.N&ZK
MRS1=9(^9QU*>KL))]3=E6\3OF",.@_9(K-=;G>UYR8GHUEJ]LJUGCG!0<OXN
M/3?5]V-U=%V]Y=#IO\V^N_\`(*E_[+0?_`XF^K[LY)=%V1^+?5^MFJ14$:#3
M03*90P`>MQ"QNJBAE3]5%FBB@]3G,(`)Q`H="$`I"E*";ZONQNKHNQH/=EAT
MWJ5>$)+ZAU[9591NHJ#%&.IC>P,VXS,+#%EPAY*,`[BK,7<RC[HI=JZ.\ARJ
MM'*,+)QI9R1@$WU?=G=U=%V^*'B:[LVF+M<TZS%:EU2R65&W%(NS]PCJ<03K
M7N=[_3JXC$MI2/636G7,!8F#@Q7\%;(*5C6S6<@T#V8B;ZONSFZNB['19]::
MY4(=,]!I@E.4Q#`%8A2B)3`)1Z&*R`Q1Z"/0Q1`P?M`0'VXF^K[L;JZ+L9B@
M@DV01;(%[$6Z2:")!,8_8DD0$TR]YS&.;M(4`[CF,8W3J8PB(CG#I^N`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8!P`[XH\L7#MTNW\4/DPQ07<++(,D-%<$546:*BACIM45
M7?%==THDW(8J*:CE=9P<A`,LJHH)CB-37HA[Q?<>/[TOEO\`*F\G?J'X$_A2
MP-Y>B'O']P]Z7RW^5-Y._4/P)_"E@;R]$/>/[A[TOEO\J;R=^H?@3^%+`WEZ
M(>\?W#WI?+?Y4WD[]0_`G\*6!O+T0]X_N'O2^6_RIO)WZA^!/X4L#>7HA[Q_
M</>E\M_E3>3OU#\"?PI8&\O1#WC^X>]+Y;_*F\G?J'X$_A2P-Y>B'O']P]Z7
MRW^5-Y._4/P)_"E@;R]$/>/[A[TOEO\`*F\G?J'X$_A2P-Y>B'O']P]Z7RW^
M5-Y._4/P)_"E@;R]$/>/[A[TOEO\J;R=^H?@3^%+`WEZ(>\?W#WI?+?Y4WD[
M]0_`G\*6!O+T0]X_N'O2^6_RIO)WZA^!/X4L#>7HA[Q_</>E\M_E3>3OU#\"
M?PI8&\O1#WC^X>]+Y;_*F\G?J'X$_A2P-Y>B'O']P]Z7RW^5-Y._4/P)_"E@
M;R]$/>/[A[TOEO\`*F\G?J'X$_A2P-Y>B'O']P]Z7RW^5-Y._4/P)_"E@;R]
M$/>/[A[TOEO\J;R=^H?@3^%+`WEZ(>\?W#WI?+?Y4WD[]0_`G\*6!O+T0]X_
MN'O2^6_RIO)WZA^!/X4L#>7HA[Q_</>E\M_E3>3OU#\"?PI8&\O1#WC^X>]+
MY;_*F\G?J'X$_A2P-Y>B'O']P]Z7RW^5-Y._4/P)_"E@;R]$/>/[A[TOEO\`
M*F\G?J'X$_A2P-Y>B'O']P]Z7RW^5-Y._4/P)_"E@;R]$/>/[A[TOEO\J;R=
M^H?@3^%+`WEZ(>\?W#WI?+?Y4WD[]0_`G\*6!O+T0]X_N'O2^6_RIO)WZA^!
M/X4L#>7HA[Q_</>E\M_E3>3OU#\"?PI8&\O1#WC^X>]+Y;_*F\G?J'X$_A2P
M-Y>B'O']P]Z7RW^5-Y._4/P)_"E@;R]$/>/[A[TOEO\`*F\G?J'X$_A2P-Y>
MB'O']P]Z7RW^5-Y._4/P)_"E@;R]$/>/[A[TOEO\J;R=^H?@3^%+`WEZ(>\?
MW#WI?+?Y4WD[]0_`G\*6!O+T0]X_N'O2^6_RIO)WZA^!/X4L#>7HA[Q_</>E
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MN4/,$&I?,[>5B3GRLDU[^W(]P\\1U@9G=_<[J<]GF*=#2DDE%1]Z`A)][:^5
MKGB]QI@XQZ--5#UER,7B9J^0I%&_2JQ)ZLP=^ND;2G-1H;OERG%_^39LQS'E
M*A6MRW"Y:RBT(#CG:'U+W&-3V"\LLN-I)JQCM.&A-51$EK^JJ[#?3+>\:?J1
M2RRU#3;6VZV1`%',-10FK,$IRESI_MOL_'9O37>Q]E7-.`7G-95ZE@^GK0VF
MHZ0V.Y=V-A4H5B=O$6Z(KPT-@]D!G+84L,Y@+$:F2=?AE49J2$9@YZDD,^>6
M]/.9JC7]^L=UYG<B8LMM>H:LTU2-*ZC85,[QN2*E.0%LA[9NG8;L$E"`Y6E8
M73-AT>JR8-G)DDV<U/R#AB!BINRCKHNKF\*+Y3.$]5<@]Z[+E.,J)[-:(6K\
MFN4G(7?<-=%;="*-&7!?3R5_E:7"M(KT4';&MW&.<Z"0FY>1.9^U-M*1<-)\
MI&<$9,::7XJ6)+GQ.NO:AUAM+9-PA.6^MX65O<JRT7LI"!H=*G:-.1*+77/(
M'43#8O(?:E/W!#/$#IRM0WGQXKR+.,M+AP\0UXIKR6:-FU:F[]%3S\<2L;YJ
MU^Z<E-7//V9(-@R,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P#';-4*G=6"45<JO7;;%H/4))"-LT)&SS!&1:@H5J_29RK
M9TW3>MBK+%0=$3!=$%5`34*!S=0/7QVNM?0[J$?1-%IL6]K40PK]<>1U8A&3
MJ`@8M*00C(2$<-F*2L5$1R,M*HL(UB=!FS2DY!-NBF1ZY!0#UL7J'4\&HFK"
M:OUW#JI%BR)*Q=*K4>HD2#LTA=(0B9VD8B8A8>XR\K;(LI1`(^S2<A/-`1E'
MKETJ$_/C(\N0UAK27<VUY*Z\HTF[OT4>"O3J0J4`]<W6$48-8H\/;5W,>JK8
MXH\6Q91IX^8,\:&8,VK,41;MTDR!/XH>RBJ33()W'R$)4:Q#/XF#4J\4]BH"
M*CW<96EGJ,DK78]RT:(K,X-61;H/U(EL=-@=Z@BZ,W%=,BA0/4#JG5QGCR1-
MK:@C(2-F=W60?C3JZ+Q]<G]9?TI];7CH8[SW5F>TV5E*D[GESGE7%9DG\"LZ
M/%/'#10#UY=)Z9*UBF)=1ZQ*R@:?+:\@V9:%50:PU`GT`:SM&BFX1/E1U/FF
MQ2MY:LLR(PLD@4$GC)9,`+@3^H<Z3TR\7FG+O4>L73FR0\M7K$X<T*JKKST!
M/1:$).P<TJK$F4E(>:A6S:(EHQ\9=E(Q;=!@\06:))I%"9LPA"IE*0A2D(0H
M$(0@`4I"E``*4I0``*4H``````````!TP#^L`8`P!@#`&`,`8`P!@#`&`,`8
<`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>22
<FILENAME>g908770g06e40.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g06e40.jpg
M_]C_X``02D9)1@`!`@$`8`!@``#_[0UJ4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``8`````$``0!@`````0`!.$))300-```````$````'CA"24T$&0``
M````!````!XX0DE-`_,```````D```````````$`.$))300*```````!```X
M0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF9@`&
M```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!`#4`
M```!`"T````&```````!.$))30/X``````!P``#_____________________
M________`^@`````_____________________________P/H`````/______
M______________________\#Z`````#_____________________________
M`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X```````0`
M````.$))300:``````!M````!@`````````````!.@```80````&`&<`,``V
M`&4`-``P`````0`````````````````````````!``````````````&$```!
M.@`````````````````````````````````````````````X0DE-!!$`````
M``$!`#A"24T$%```````!`````(X0DE-!`P`````"LT````!````<````%L`
M``%0``!W<```"K$`&``!_]C_X``02D9)1@`!`@$`2`!(``#_[@`.061O8F4`
M9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,
M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.
M%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`S_P``1"`!;`'`#`2(``A$!`Q$!_]T`!``'_\0!/P```04!`0$!`0$`
M`````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0`````````!``(#!`4&!P@)
M"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$`
M`@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D
M8N%R@I)#4Q5C<S3Q)086HK*#!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4
MI(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1
M`Q$`/P#U5))))2DDDDE*5"CJ^/?U"S":"`V6UVDC;8]A(R:JX_T'\K^<_3^G
M_1[%#K6<['I&/0XMR,@$->.6,'\Y?K[=S=VRK_AG_P"C]186S:UK:B:C7M-3
MFZ["S^;=_*V_G-_PK/T;_P"<24]%?TP76NL&5D5%[MY%=D"=K:MHD._1_H]_
MI_Z7U;/\*A?L4;@_[;E[F]_5Y_DGV_11^FY[<[&%NW9:P[+Z^=M@`<YH=IO9
M[M];_P`^I6++65`%\^X[6@`N),;OHL#OW4E.1FX_3L!M3LSJ&16YP+&$V%SG
MQN.XUM:[U'UML_G/3_T/JJ=/7^A4TLI9DG;6T-;N;:XP--7/8YSEE?6JP/SL
M<MW"*G?2:YO+F_OAO[JRZQ7LDN8XGEK@Z6P>6NK#DE/6_P#.7HO_`')_Z%G_
M`)!&Q.L=,S;33C7A]L;MA#FD@?2<T6-;NVS[MJXU_I.!`-32.[2\S'A+=OO1
M^A_\M8/_`!C_`/SQ>DI[A))))3__T/54DDDE*0LG(KQ<>S(M)V5M+C&I/\EC
M?SGO^BQB*AWX]&0ST\BMES)#MEC0X2#+7;7?NI*>7>ZZ^]^1D`BVTC<.=C1/
MI4-_DT[O^W?6M_PBD6M+0-!'YP:Z3^*V<GI?3*VB\8E.VHS8T5-,L_/]NW\S
M^<_?]BD<+H;7;'8^*'#\TLKGQXA)3C8F4_!R1DP?2(#,EO;TYGU_Z^-]+_B/
M6_X)=%:0Y^.6F07D@C@CT[%79@]$>0UF/BN)$@!E9,?<C.KKJ^RU5-;776[:
MQC0`UK178UK6M;[6M:U)3B?6G"R[<C'OHI?=6&.K?Z8W%IEKF[F-]^U_N6.S
M&SV06X60'CEP98"?^BNMZGUC#Z8*Q?O<^V=E=;=SB&QO=V:UK=[?I.5'_G=T
M[_0Y'^8W_P!*)*<%U.=:&[L+)<T:MEMA&O\`UM6NA]/S_P!K8]K\>RJJ@O?8
M^QI8(-=E+6MW[=[W.M_-5[%^MN*,:L7XUU=H:`]C=M@!'A;NKW_YBO8'UBZ?
MG9`QF"RJY\^FVUL;H&YP8YI>W<UONVI*=1))))3_`/_1]522224I))))2E7Q
MFAA=CN$FJ-CC&K#_`#?'^CV^E_UM6$#)&S;D@$FF=P!YK=_.?YFUMO\`UM)2
M;:V9@3XH5W\Y1_QA_P"HL1D&[^<H_P",/_46)*><^M>W]H8VZ0WT73'/TA"R
M6U4N/L>]P!U&T`Q\WKH/K'TO*S+:<C%V/]-KF6,<\,/N+2QS7$;?WMRR?^;W
M6C_VG8?^NM24U755-,N]1K#PXM:=)\-RL]&]/]N8/IEQ;O?.X`&?1R/!)GU?
MZRYH<W'9#M1^E;_!7NC=!ZG3U*G)R6,IJQRYQ]^]SBYEE(:T-'M_G-SG.14]
M0DDD@I__TO4,C+Q<5GJ9-K*6?O6.#1_TEFO^M/20`:W6V@_NU/'_`)];6N7R
M3DOS;#G2<]LBP.F6@DZ8^_W-P]W]'V?SG_'>HD!26^YSP_R`(_*$E/2?\[.G
M_P"AO_S6_P#I1$9]:.D%I-C[*8_?J?\`]56U[5S!&-I#K/,;08^>[W)G"D`>
MFYY=W#@`/O!24]W1D8^2SU,>UEU?&^MP</\`.:B+@\`Y3>HU?L_3,<YNX"8=
M7NBS[7M_[3M8Y_OL^@_^8_3KO$E-6BVN@NQ+'M:ZEN]@+O<:?S7NW>[;7_,[
MO_)JCG_6#IU.1C,KM9D183<:G;_39LL;ZCFU-M]3W^STF_I??_HUA_6+&R1U
M&[*SZ@ZD0VB_:#4VD$/96^R/8YMOZ1_VG_"_S*IL<V/HA[(@0=!_5VI*=QW6
M>E-<[;]H>"21%-0Y,Q^EK9_TD2KZS=/I;#,6^3&YP;2TN([NVW,6"+*1_@09
M!!ESOO;_`%4[32>6AI'<O=K_`)K4E.O1]8L1]%7VS#M&0U@:_P!)S"S3]QYN
MJ>YO]>M%9U[HHL:_[/D,<TR#$B?$^G:]8;O1;PUC_`-<_3X[FM42^L_X(#G6
M2BIZQGUDZ*]S6G(](NT!M8^MOSLM8RO_`*:T*KJKF;Z7ML8>',(</O:N#+@0
M-K-I`U()U4NG,R[,G=TH.^T;@U]E.C`1K^N/;^B=6S\^JW]+Z?\`,U^H@I__
MT_3LK!P\QH;E4LN#?H[P"1/[COI,_LK,?]4^G'^;MOJ'8!X?^.2V]RVDDE/.
M/^J6UVYN7;96.:PVL//]2QS?3_SZT;'^K/2;!N-M]P!AS7/],@C\U[:&T/:M
MU"MQVV.]0$UW`0VUO('[I_?9_(>DI;&P\3$868M+*6GD,:&S'=T?2369V%4\
MUVY%3'MY:Y[01.OT24FWNK(9D@,),-L'T'>'_%O_`)#_`/K;[%Y[]:ZZS]8\
MXEK29JU(!_P-22GT#]H]._[E4_\`;C?_`"2I7XWU8ODV#$W'ES7,8[_MRMS'
MKSEF.VPD,K:2-8AH_*I?87Q/HM[:0V=9[?V4:4]R[HWU:/T,PL'ED[O^E<ZU
MR@>B]![=2</^NT?QJ7$NPRQF]U;`-9^C(@^F9;_70_3J_<;]P24^@L^JN`]K
M7LRKWL<`6N!J((/!!;0I'ZK]+K:7VVW%H$N+K-H`^-;:]JL=$MKI^K_3)Y.)
M0&,;R3Z;/:QJMLI?8\6Y'+3-=0^BV/SG?Z2W_P`]_P"#_P!)8%.?C=`Z6=?L
MC?0[>ONML?X%SLAUCZF?R/YRS_@_YNS68QC&AC&AK6Z!H$`?(*222G__U/54
MDDDE*22224L0""#J#H0O-?K#CTXO6<C%H;LIH;374S4[6-II:QLN]R]+7FOU
MKW_\X\V)B:N-G^AJ_?\`<D%.:TEID`$CB1*)Z[M?;7J2?YMO?PT0/TO\K_P-
M+]+_`"O_``-%25]A>`"UC8,^Q@:?O:HJ'Z7^5_X&E^E_E?\`@:2GTGZM8C*N
MD8E^YSWWX]+_`'G<&`TTL-./_HJ/T7J>E_I5K+/^K_\`R#TV?^XE'_GMBT$%
M*22224__V0`X0DE-!"$``````%4````!`0````\`00!D`&\`8@!E`"``4`!H
M`&\`=`!O`',`:`!O`'`````3`$$`9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`
M;P!P`"``-@`N`#`````!`#A"24T$!@``````!P`(``$``0$`_^X`#D%D;V)E
M`&1``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$!`0$!`@(!
M`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#_\``$0@!.@&$`P$1``(1`0,1`?_=``0`,?_$`*X``0`"`@,!`0$!
M```````````&"`<*!`4)`P(+`0$!`0$!`0````````````````$#`@00```&
M`@$"`P('"PD%!P4```$"`P0%!@`'"!$2$Q0)(14B%A<X6)@9,22T5G;6E]<8
M>-A!,B-3EK8WMSDS)38GN%%"8M0U9=5AH5(F5Q$!``$"!`0%`P4!`0``````
M``$1`B$Q$@-!45(387&1,I*!H6+!T>$B0O"Q_]H`#`,!``(1`Q$`/P#?XP&`
MP&`P&`P&`P&`P&`P&`P&`P&`P&`P/.KU+-Y[3T5J?2+S6DJ>GQFT^7O''1^X
MMK)(11U]-:2V;<C1%\V(W=SS=Y!0KE(J;6)2D':"J3!26!<H$5(FH0L16OD_
M&^.2*'$_8474(.;DMGR.S*YL&PLJ?>;Q_N/3L?HG1^R=Q37G[6:+L-Q%?<*5
M73;,4YE1RJV!&1D6ZSAI&EBA$157!OZN<E(W*NL67'INPH\OM?C[JY>4L.U2
MP=R0<\C^$;SF749)]6Y6AQU;K@5EHQ4@)A-[.=B*P>:!0"=Z:<JNGQ0V1]5'
M9:EQTY*NM=FI%7A]=\UKKR/TU,5BS--SPUOXK:4TGLQ35;,EDC8UF$C(#NI(
M\2[CBNFEC;$C'Z#I%!\M')JFE$.1_-;D#91T%::^G*Z3A;]QVYN[#BBT[9-9
MM\)L:&AN#-3WGJN[H&@'CB1AG%"OMC>,&Q9%NQ<O5H<9`B16CU)!,4C%\-(>
MH_LJH-82.M3"P[&F[7M#A#IB7D;O?8EW`PSS<OIN,N2\G>J?%PNM:U,0Y7LW
M5%#3$7)RLUYR3E'#IL]9($(S,*,AK^L+:4*!KF[EXZ5]TA9N+_#/DY9R&V_(
ML58Z+Y:\D5.-PU&!9!JV0(_D*/,BE*`[<.D$W[4QDO"0.4#&5-/BLL3>FP>5
M_%?=B$(\D>/6T:ORLMG$?XWZ^M3R</`6&D\EH;2;B_UB4=PU<</&C]B\%X5F
M]9`3N,9-0IR@`C4I25"8[F-R0V@S],9I8K!<=;6A+E\OQ#Y>P,2LO`MMB[>U
MM5MGQFU6"SQ%)D^7K:<QKN+F&:T<H5FJ$\LU,J=5HLDE.3JD?V=WQ#W/NK8W
M&>X;!V%L;;;"6JDAS7:5/9$ALB2=,-J3=3L?(.J5G5#&M(SBWD9/553J$=8T
MI#R:$BJ6,,J14Z"$BH83$56/]+^2Y>[*JVC]\;*V))3>A-B<'-*N)B$O4PWL
M]VNG*.0EG\]:=MUMR@YDE*?175$?-HYS&*+M"NY,@+)1S8J)EWB$NIC'%[!9
M7)@,!@,!@,!@,!@,!@,!@,!@,#__T-_C`8#`8#`8#`8#`8#`8#`8#`8#`8&$
M=K<CM)Z0MNF:+M/8,'3;5R!O*^N=2Q$JJHFO;;:WB7$L>/;B1,Z;1$030:%<
M+BFW-(R#)H!_,/&Z:A:3+-V$,#'VQ-<Q.S(<U?GI.>:PKAN^9RL7$O6R$?/,
M9!(B#F/G63UB_:2C$R1!#PE""00.8!`0'!&##C7B)JUE66]+9NK,TIS-RH]:
M5-JO74*RU>*MUF:KMO!)5HD6@Y4:.%$C*%2`XIJ&*(]IA`2U=?(\+],3$H\G
M)9O+RDU(SD99Y"8D4JH^E'UEA(9>N0UA>2#FK*NW4Y$5YTJP:NSG,X;LE#($
M.5(PE$5\'.0XA:J:KP+IJXLK9S59&4F*NX06KB*];EYQHG'S4I`K)UDJD/(S
M#!(J#I=N*:KA$H$4,8H`&"KH$^"^@DF#"*2@UDXN*2MJ$7&IQE+(PC4;\V%G
M>T6#,M1!NS2NK,?"EBIE*$DG\%QXA?9BAJE^R\&]#$C9"&)#.20\L[KC^5BB
MQU-+&R;ZG,"1=1>R#$*D#5Z[JT8F5M&J*%,=B@4$T1(0`#)1=4CC@WH9V15-
MU#.7*:T7%0:Q'$=35B*PD%/!:H2'5*I4C%4BX>SA[R:MQZHMW_WPF4JOP\M$
MU)"CQ)UBVAY2O-WUJ;P$Y9G%TFH-%S7TH>8N+N11EW5LE(PE;*RD+,YEFZ;I
M1^J0[H[A,J@G$Y0,`KX/S.\1M7VAU#/K,\M%B?5R:=V6O/)UQ7I=U`V-^H99
M]/PSB0K3A:+FGBQA.JZ0$BZAA$3&$<%?!&V/!30$8DV1C8%2/19$LB;-)C%T
MIHDT3N3-:/MY&R;>H)E0):V#A1"2`H`#Y%0Q%^\IA`5#5+,NK])5;4#1A$4J
M2L;&L1,>K&Q--!Y'-:?%-U52+=8RNQ,3&1[$Z9RCV^$4I0[S>SVX)FK,6$,!
M@,!@,!@,!@,!@,!@,!@,!@?_T=_C`8#`8#`8#`8#`8#`8#`8#`8#`BEZO%1U
ME2[7L6_6".JE(HU>E[7;;++K>7C(*O0+%>2EY5ZJ!3F*W9,FQSF`I3'-TZ%`
M3"`"&KA=8AWSPG=G<A=YQ,W`([=KR%.T+3SNEH^PZ)T7#RJ=@U_*1QDCF&O[
M=MED:MKA,.B&45:2)63(#>''$)FUEG]9KG+B^^ET1;P>R_IO<K['O?7=BU%N
MA\V'E!QR<15.VR8@(MD]BP#ULJ?7N]H%HGV%"#V?"LS*.B$*0&$ZV?-!(0J2
M?=E,3$S$N\)B+HREZ1Y`P&`P&`P&`P&!"-C[*U]I^D6'9.T[G6]?4&IL325C
MMUMEV<'`Q#0%"(IG=R#Y5%`JKERJ1%!(!%5==0B293*'*40\KY3UN.)Q'ZR=
M-UWRFV9``5,[&Z5+1[N'K<RFIW=J\0GLN?U_9';42E`Q5ACB(J%,!B',`]<L
M6W3E$DS$9W0X'VW''?Z/W,?]$])_6METW=,I6WJ@^VXX[_1^YC_HGI/ZUL:;
MNF2MO5!]MQQW^C]S'_1/2?UK8TW=,E;>J#[;CCO]'[F/^B>D_K6QINZ9*V]4
M'VW''?Z/W,?]$])_6MC3=TR5MZH/MN.._P!'[F/^B>D_K6QINZ9*V]4'VW''
M?Z/W,?\`1/2?UK8TW=,E;>J#[;CCO]'[F/\`HGI/ZUL:;NF2MO5"35/UJN&L
MK,-XS8;'>&@HYXJW;-KENG5+^(H!73I7PD49>Z4Z3N\#4TA-_.<S*T<S('M,
ML&28F,XP6*3E,3+U?AYB(L,5&ST!*1TY!S+%K*0\S#OFTG%2L:^1(Y92,;(L
ME5V;YB\;J%4262.9-0A@,41`0'(.QP&`P&`P&`P&!__2W^,!@,!@,!@,!@,!
M@,!@,!@,!@,#P0]07=!N3^Z0X@U%V=QHK1LU7K;RDEFBB:T5L;:+;R5EUSQV
M%0!%!]"T\X-;-;D0!4AG/NN/4[#><3SNRW5-9RA+KM-OY2A>>AYV&;O(WS2N
MQ*+R[TO%N9K9>FF[V.N-(CP3(MNW0TNY;O-B:H6ZF3\:<1(T+,UDYQ.#:?9)
M%`@D<K`;/<MK%8SAIMW4G3.4MD74FUJ)O/65&W!K&>;V:@;&K49:ZK--@,0'
M<5*MRKI$<-U`!=C(LU!,@Z;*@59JY3414*50ABA@URP9$P&`P&`P&`P&!JM>
MI1M.6Y$\UKAK.:5,ZTUP^/4*[6:DH8%X*P[ZMM+A-B6K8TNT[$TGTA2:G<HB
M&B$G`+%CW(OW"7:HL4Q=-NVLS=/!QN73;$1&<JTYNQ,!@?<[5TF9$BC9=,[@
MJ9T"G14*9<BQ2F1.B4Q0%0JI3@)1+U`P"'3[N!\0`1]@`(CT$>@!U]A0$1'V
M?R``=1_^F!_H%,(&,!3"4O3N,`"(%[AZ!W#]P.H_<P/S@,!@?-5))=)5!=)-
M9!9,Z2R*I"J)*I*%$BB2J9P$BB:A!$#%$!`0'H.!Z-^C+M28U_MK:O#$SUPY
MU>XUXOR)TC!K&450UR5G=(NH;CI4(HH)Q:U!Y8+K!2\>Q*)463I^_*D4$SE*
M3SWVZ;L,I>BV[5;6<X;$F<*8#`8#`8#`8'__T]_C`8#`8#`8#`8#`8#`8#`8
M#`8%"_4$Y7RG&;4\7":T)'RW)'>4J[UUQ]KL@CYQ@VL@L?-V/9EH9%*HH:@Z
MBKYS3$H82"1PJ5JQZE4?)#EB)F8B,S"*S.4/(O56MXO5-*C:C'/7\T\*O(S5
MHM<RH9S8KS=;$^7FKA>;.^4.JL_L-LL#U=ZZ4.<W0ZO87H0A"AZ8B+8I#SW7
M3=,S+(N5#`Y?"'=!>'G(@-`V9V1CQGY5W%]*:B>.%%$HK3W)F:%60G];D,H(
MM(NG;X%)62ATBF32;VA-RW33ZR*?3S[EM)K&4M[+M5M)]T?^-AC.'1@,!@,!
M@,!@:?W(#Y[///\`>5C/^G+C_FVU[9\V>[G;Y?N@N:LC`_1`()R`H8Q$Q,4%
M#$("ARD$0[C$3,=(IS`7V@`F*`C[.H?=P+?J;-UM-3SB7LB\2$K("9U+NXMA
M:QK"\V79VN9Y];JZV<L@LU%LUKJ\9,@_2C%$F::O@BV,AXQDD>*33!U6$-@[
M-K:M3`R,6YB5VSRH[*CW?O%A<5)8TS/47859;,GBR!D&#FO3DG+1BB(=AUT$
M4B"H+=0'?F;BD42YQ9-`K3S=L7W<E3$)2-:+,F\9<(]9]7FV^K-.K%?^[&S5
M:7-\DL@R1*L\.J](HW!-,Y5`,)W]EK;7P_E&1B-=2%-M5CC86(64)7:VS0.F
M>Y),HRSMZB[&Q$1.5D\]UK>^0;NFIWZQ&LFN!VZ1C$!;PV-83"DRK1G2&`P+
M=^ES_J3H?N.[X_SZXJYCNYVMMOVW><?JV@,R=F`P&`P&`P&!_]3?XP&`P&`P
M&`P&`P&`P&`P&`P(I>KQ4=94NU[%OU@CJI2*-7I>UVVRRZWEXR"KT"Q7DI>5
M>J@4YBMV3)L<Y@*4QS=.A0$P@`AK70MPMO)?;%LYB[+BY""?WV*3J>B*!*B8
MKG4O'=F^&1K;!\Q[CI,;]L]WVV*RB!E#IKK-6'<"<>0N;[=M(K.<LMR[_,90
MRSFC,P&!`=GZXKNVJ)8M?V@KLL58&94R/XURHQF8.49KI/X.R0,@D(+1M@KD
MRU0?,7!/A(ND"']O3H,F*Q,2MLS;,3#T^]-[E?8][Z[L6HMT/FP\H..3B*IV
MV3$!%LGL6`>ME3Z]WM`M$^PH0>SX5F91T0A2`PG6SYH)"%23[O-,3$S$O1A,
M1=&4O2/(&`P&`P&`P-/[D!\]GGG^\K&?].7'_-MKVSYL]W.WR_=!<U9&!<&*
MU/KZ13I=A*Q4,P"CJQ]IK0RSXKF0V,OK<M]@99'HN,DUKDM$R)EQ*B84Q<0C
ME$3(%<(YQ6<8=4C"46A>-TE(NX5K)3ZT*:::1!B%7KYUEVLC+W#7=/19N$AE
MFY`;D<;*9.!4!3Q@035`R!5"E(:ZB+771G'R3=I5IU)SZ,`RGFJ;IRK*12Z:
ML6F+;6K]5<Y?-@U59I1NS&[D#J+H*J)LG!")F<"BBJU)3FX;+2)3D8GD[*Z8
M>:K$=;52(U61<=D1.-*<^A3,7;UY%14JNLWMO:Y(BY^]5FIB#W@<I@:O`H^D
MUH=U"Q;^<6L0K13)C(&%=O7)5VJ$O'2FQX0\>]3CC/T8IB^D]9/@;/7"J:1D
M5"**E2`C@$6HTOW=])-:7"6^2^,;V8<5J7&%222A$V**SJ/NMLITVX=#[U?G
M1CTE*VFJV5#X2@NNQ0B0D`5$75F"8I57W.D,"W?I<_ZDZ'[CN^/\^N*N8[N=
MK;;]MWG'ZMH#,G9@,!@,!@,!@?_5W^,!@,!@,!@,!@,!@,!@,!@,#P0]07=!
MN3^Z0X@U%V=QHK1LU7K;RDEFBB:T5L;:+;R5EUSQV%0!%!]"T\X-;-;D0!4A
MG/NN/4[#><3SNRW5-9RA+KM-OY2A>>AYS`8#`8&&;O(WS2NQ*+R[TO%N9K9>
MFF[V.N-(CP3(MNW0TNY;O-B:H6ZF3\:<1(T+,UDYQ.#:?9)%`@D<K`;/<MK%
M8SAIMW4G3.4MD74FUJ)O/65&W!K&>;V:@;&K49:ZK--@,0'<5*MRKI$<-U`!
M=C(LU!,@Z;*@59JY3414*50ABA@URP9$P&`P*H;SCI6W;FT'KLEUOU0K=BA-
MR3<Z37]ME*;(RKRKL:*$(1Y*PRJ#Y1HS--N#>#W@0QC@)@$2AT+&4NX_9AA/
M_P"Q<E_T_;!_^4P5\#]F&$__`+%R7_3]L'_Y3!7P:NFU:XC4N7'.&NMY6PSB
M,9R08I$E;7-OK)8'@*\>M"N1/)3<DHJ^?JD%82%,H81*F4I0]A0S;:]L^;+=
MSM\OW=-FK(P.>64DR+)."2+XCA%(J"*Y7;@JR2)"&(1%)4%`.FD0AS`!0$``
M!$/Y<@G4!6K`^B(F<5L9H"+L%G5ID"Z<NI+PWT[$LH!T^*H#$JIVL9`LYB+!
MPMT.HGYEN"22@%.*0H[QE6]S5%29<!4["7JSF8B1<R$$>40:IQ#M\>349O7*
M#E-HNP>4=SU6;J%\0D:ND(J(D63&83Q7'%&$ZWLITL9VA$VM9==G(/Q6;H2`
MG4:)O'3F4[?!#KU2?-EE%T0^&4Z9S&*':(A<#%TDTVM44HB2?)-LU'S8RJ19
M([LAW#9-^KXH=%S=3`A*ME`4(/M3<IF`P`<H]&"8PZEQ)2+L.UT_>N0[3EZ.
M'2ZP=JJQ'"A>BBA@[5%TRG,'\IR@(^T.N4<+`8%N_2Y_U)T/W'=\?Y]<5<QW
M<[6VW[;O./U;0&9.S`8#`8#`8#`__];?XP&`P&`P&`P&`P&`P&`P&!0OU!.5
M\IQFU/%PFM"1\MR1WE*N]=<?:[((^<8-K(+'S=CV9:&12J*&H.HJ^<TQ*&$@
MD<*E:L>I5'R0Y8B9F(C,PBLSE#R+U5K>+U32HVHQSU_-/"KR,U:+7,J&<V*\
MW6Q/EYJX7FSOE#JK/[#;+`]7>NE#G-T.KV%Z$(0H>F(BV*0\]UTW3,RR+E1V
M<*R;24O%QSQZ,:U?R#1FXD/+&>`R2<KD1.Z,U(HB=<B`'[C%*8#"`#T]OLR"
M;K:W=L2N$Y6039OV:LH@[8E3;#X"L=+5R+3`SI[(QS;M?$L2;E(PB!3(`0Q1
M-X@=LKZ+1')NO(1#9NNG*(N5%TXQ46ARMT'@)R<0VEBJE:HOGC@B+8'`)',L
M5#N,)13`X"?LL2E$8RA@<OA#N@O#SD0&@;,[(QXS\J[B^E-1/'"BB45I[DS-
M"K(3^MR&4$6D73M\"DK)0Z13)I-[0FY;II]9%/IY]RVDUC*6]EVJVD^Z/_&P
MQG#HP&!6C8GSG^-7Y&\A/P/5^%C*5E\(8&G]R`^>SSS_`'E8S_IRX_YMM>V?
M-GNYV^7[H+FK)]F[=9TLFW;IF666,!$TR!U,8P__`&``#VB(^P`]H^S`DLA2
M+-%Q9YI['IIQJ9DR*.$Y&+="F*KU[')BH@U>K.2$,_CG"/<)`+XJ!R]>I3`$
MK`[VH3-M4C_=4-"L[,RJ#Y]L1JP>,A?F@W*"$4A-S;=JBX;JO&:C2)9&?HJ%
M<-A09$453\-(Y@318JF['9^RCNF=1+%0TU+MWC=DHJN+M^\=R<A([(0*O)2;
M6=*Q%R[E]TR9%%!,0@+J(%-VBF(&E(*SE_W_`&+\,]U'>*6Z2L+`H3%C:H)'
M]TEERL'ZKCS@3[IP0MLCE823E/'**2[7Q630#.$TV`%<G$%"N:$[$M\_9'4;
M&V"(AX9:MI.VS5E#(N$&[=O)K%DS-DT3R3]F@T(NL=1%)N":2)5A(0H)E3(2
MQ"3-4)"*D#-F#PK<QFTH]=1S%4ITA!=\R!B9TV``.)DU42R2`B!P+\%4HA[!
MRC@G(=(YTU"&343,8BB9RB0Y#D$2F(<I@`Q3%,'00'V@.!^<"W?I<_ZDZ'[C
MN^/\^N*N8[N=K;;]MWG'ZMH#,G9@,!@,!@,!@?_7W^,!@,!@,!@,!@,!@,!@
M,"*7J\5'65+M>Q;]8(ZJ4BC5Z7M=MLLNMY>,@J]`L5Y*7E7JH%.8K=DR;'.8
M"E,<W3H4!,(`(:UT+<+;R7VQ;.8NRXN0@G]]BDZGHB@2HF*YU+QW9OAD:VP?
M,>XZ3&_;/=]MBLH@90Z:ZS5AW`G'D+F^W;2*SG++<N_S&4,LYHS=Q"0ZDTY7
M;)&5`Z#-=YVH-E':RH(=G<FD@F8ISG$#]?9U'V?<R20D"-,M;*0[F1FZ!VSD
MI&DRVFF3-HL)C/2I.8U\H[;*+E528+*%!,/%\,@B)0^YBL+27)1CKL51!JC*
M2B9%HXKQJD6;22.N@O$H2Y3-6PRI3+L5`AD@%8G5/JT+U^&D!"S#D4EPGM8N
M;]47,@DX>F20*F+YY+LW2)&K1FJN`>\%GZB!6K-LU4*(^)V)'2.F/0Y#%"U@
MI+KY"I3\6P]YO6/A,@.=%18'#90$')'[Z-,T6*FL8Q'?FHY;^CZ";L()NG:`
MB"L)24;RB`[/UQ7=M42Q:_M!798JP,RID?QKE1C,P<HS72?P=D@9!(06C;!7
M)EJ@^8N"?"1=($/[>G09,5B8E;9FV8F'I]Z;W*^Q[WUW8M1;H?-AY0<<G$53
MMLF("+9/8L`];*GU[O:!:)]A0@]GPK,RCHA"D!A.MGS02$*DGW>:8F)F)>C"
M8BZ,I>D>0,"M&Q/G/\:OR-Y"?@>K\+&4K+X0P-0SE%&OJKS\YP5B:1*VD)O9
MNO-K0H@IU3E*7==$:N@(N4:E.5-8R2%@HLHP6$2]I73-0I1,4"G-MM93'BSW
M?\SPHQOFK)W,#*EAY'S9TA61683$4Y(7M\0&D[#OX1VJAW_`\R@UD#G2[O@^
M(4O7V9"$W@]FO(%DT9-&!@3;UX:XL8LBJB+QBM+6*7>D<@DW`JB#Q6R+)&2'
MJ042%*;N'N$5*K5^Y+;$Y(6Y]=6[=&%FU4&J<4:'<.DVL$JSF&LRV"/;OU)`
MHL&QVWETVIA%$&@]A@.;N.93"A7&J3(;]GFZJ0HUVO,VP2;^26818S$:Q44?
M7PM_[2-6\H*"8MWZ:3,@F*</=[=%$2CV',I-/B:G&'>=@+'E9-V?EERL#M#2
MR4M*)RKE<M&1HK)^^<(K(I/'48R3.X;G,GXJ:ZQ^A^SL*12"LN8UWW+LB,DV
MT!'H>0,R.DZ1D),D@H+6RQ=D706<"N=`&+Y2'0041212**0&$>ISF,+3XE74
MK;B>.J\XJBD%&M(5\DDW=BT4>*NRI!'PL6J=F+QRJG'F(A"$6329^41\<ZA#
ME.T4.U,H58NG952=G)F;51(W5F961E5$$AZIH*2#M9V=%,>A>I$S+=`]@>P,
MJ.JRBX_I2Q[V9]12W34<W.ZB=>\,KC!6Q^D!CMXF9VONO4,I2(QTH0IDT7DQ
M&ZBG%R)G,4YDFO<`"4>H8;LXQ#;;]LSXMG3,W9@,!@,!@,!@?__0W^,!@,!@
M,!@,!@,!@,!@,#P%]0O=`\I]VAPWJ#PSG0^C)BNV_E?+LERJ1FQ-FM_)V;6O
M''Q"=4'T/5CE:V6X(AXI!5",CU/#,9T3.[+=4UG*$NNTV_E*+9Z'G,#E-7CE
MF*XME`)YIJLS7ZII*`=LX`"JI]%2'`@F``Z&+T,4?:`@.!W`VRP"BU;FD3F1
M9&8F:D.@T/X7NUH9BR+U,@)C)HLSF3[3")3$,8#`/</64@K+Z(V^?279KF>`
MN+$@(-R+H("4K3R9(\S$IR)IKI,SLBB02$.0`[SF+T.<QA4@J^BUTL2@/$B/
M2H-'BDB<T>BV;BR0+*D*D^1:(K)+"W262+VCT'N$!,(B)CG$RD%9<-Y9IV00
M6;.Y!15!P*XKD!)NGXH.9$TNN4YDD2',FK)F\<2]>WQ``>GL#HI!5T.4,##-
MWD;YI78E%Y=Z7BW,ULO33=['7&D1X)D6W;H:7<MWFQ-4+=3)^-.(D:%F:R<X
MG!M/LDB@02.5@-GN6UBL9PTV[J3IG*6R+J3:U$WGK*C;@UC/-[-0-C5J,M=5
MFFP&(#N*E6Y5TB.&Z@`NQD6:@F0=-E0*LU<IJ(J%*H0Q0P:Y8,B8%:-B?.?X
MU?D;R$_`]7X6,I67PA@>:?J`>GJQY>!4]F:ZN#/5')/6<6_@ZA>I")/-52XT
MV0=>\GVKMIQ#-5I)RE-<2H"[9.6JQ7L*_.=RW!0%%T%K$S;-8,)BDQ@\49'A
MCZD-??.8A]PM=7)9DH9$;-K'D!Q\=4V8\,QD_.PX[.V#JRZ(-G'9XA4WL,W5
M(0P`;J8!Z:QNQQAGVN5SA?LE>HI]`?9/Z=N'O\0V.['*3M?E'W/V2O44^@/L
MG].W#W^(;'=CE)VORC[G[)7J*?0'V3^G;A[_`!#8[L<I.U^4?=&;IQZYXZ\I
MULO]PX,;)AZE1JS/7"TRWRU\3)#W77*S%NIJ;D?(1>_'LF]\E&,E5?!;HK+J
M=O:F0YQ`HN['*3M?E'W2;]DKU%/H#[)_3MP]_B&QW8Y2=K\H^Y^R5ZBGT!]D
M_IVX>_Q#8[L<I.U^4?<_9*]13Z`^R?T[</?XAL=V.4G:_*/N?LE>HI]`?9/Z
M=N'O\0V.['*3M?E'W=Y7."WJ1WV42@&O&*OZ22<&0*XO^[MTZJG*W#H**]'+
MIM5M&6_9]ILCULW*)B-#FB4ECB4HNTP[C!)W>4$;4<;GO[P@X6TCA5J^1J4-
M.R&P-BWF:+<-R;>GV39C8-D7+R:4>BX]WM5%V]=J5=CD2LH2&044;QC(O:!U
M5U'"ZV6,XSFTY1&2YV`P&`P&`P&`P/_1W^,!@,!@,!@,!@,!@,!@5YY5SW(*
MNZ!V2]XK46.V%R!<0*L7J^%G)RN5^OQ]CE3D8HVF??6B1C8UQ%U1%8\@9F!C
M*/U$"-@`A53*IEBE<<G@7J3BMSNU)1HVGL.%<_/OP<R4[;+A-\D=".+)?;S8
MWZ\U<;W:'IK4HJ^L%KL#Q=VX.<Y^T5`3*()D(4-8W(MB(BUG=9JF9FYDOY(_
M4"^@W(?6.T'^<^7NQTIVOR0G84+S7U;5UKG=N%DG$UIK,U2#>R@<@M'/$(]S
M<K9"4R)>2(,["N9C#-YBP-S/GRH%:Q[,%73E1-NBJH5W8Z3M?DFWR1^H%]!N
M0^L=H/\`.?'=CI.U^1\D?J!?0;D/K':#_.?'=CI.U^1\D?J!?0;D/K':#_.?
M'=CI.U^1\D?J!?0;D/K':#_.?'=CI.U^1\D?J!?0;D/K':#_`#GQW8Z3M?D?
M)'Z@7T&Y#ZQV@_SGQW8Z3M?D?)'Z@7T&Y#ZQV@_SGQW8Z3M?D?)'Z@7T&Y#Z
MQV@_SGQW8Z3M?DL1Z9.J^:''W9NX=?;.X^FUCQ;V"LZVE1VJ^V=9W5?5NWI1
MZ4U^K\#$5.Q2#M.@[)45&9*BDB1*+F@="5/PWQC)93,3,S$-?\Q$S67M/D16
MC8GSG^-7Y&\A/P/5^%C*5E\(8#`8#`8#`K1S1^9URQ_=HWM_E;:L+&<++X0P
M&`P&`P&`P&`P&`P&`P/_TM_C`8#`8#`8#`8#`8#`8#`8#`C-TIU:V'3[50;G
M$MIZH7:N353M$(]*8S27KUBC7,3,1KD"B4_@O8]VHF;M$#`!O8(#[<#`/%.X
MV5W3[#I_8\LYF=M<=K'\E5TFY$2^\KS!M8UG+:NVPX$"ID<K;.UO(1TA(J(E
M\LA8@E&*8B9DH`%E:3"&`P&`P&`P&`P*T;$^<_QJ_(WD)^!ZOPL92LOA#`8#
M`8#`8%:.:/S.N6/[M&]O\K;5A8SA9?"&`P&`P&`P&`P&`P&`P&!__]/?XP&`
MP&`P&`P&`P&`P&`P&`P&!37>_P#R6W#K/D\T^]ZI*^Y>/W(;L^"@%"MEC/\`
M)!L:0Z>T_P`DFV+`9HJJ<2-V->N,R]7-VM"=I8QP7*PA@,!@,!@,!@,"M&Q/
MG/\`&K\C>0GX'J_"QE*R^$,#%6ZMX:FXZ:YGMM;MO<'KK7M:(B,K8YY5;PO,
M.U0;L(R-8,D'<M.SDHY,"+./8MW+YXL8$T4E#B!1$17)Y,RGK?ZW<O5OD^XD
M<K;M7DQ`K>RR;'3&M$Y3N#O(YC:YL3;T#<4V1TS!T,^CV*W=U`4@``,;J++I
MRM359&=\.O\`MM8_Z#O)?^VO&+]>6-%_2:K.O[2?;:Q_T'>2_P#;7C%^O+&B
M_I-5G7]I/MM8_P"@[R7_`+:\8OUY8T7])JLZ_M+S5]3/G#MKF1II:L\?-<<U
MN.FQD64E`NVS#<6C&&IMFTNRHC&V>H;-K,%O9?Q2+1JZHM9!NV57+W';K)K(
MJE%!HOZ5B_;C.[[2SCPH]2Z\\;='PE*W-I_G%R7VV_.$W?\`9>Q=N\?IU!2<
M<-T4U(.CQLQOQP-?IL.5/PVY!`'+L_>X<"!E"HHM%_23?MS.%WVE;G[;6/\`
MH.\E_P"VO&+]>6-%_2FJSK^TGVVL?]!WDO\`VUXQ?KRQHOZ359U_:3[;6/\`
MH.\E_P"VO&+]>6-%_2:K.O[2D=9];[1"<DBWW1H7DGHBOK'+XVP)VN4/95'A
M6XB!#.[.XTOL#8-H@6B1AZG7/$G;))@)U%2!DFVZ,[5B;9RNA["U&WU2_P!8
M@KK1K)!W"GVB,:S-<M%9E&4W`3L2]3!5I)1,M'+.&+]DX3'J11(YBC_VY!(\
M!@,!@,!@,!@?_]3?XP&`P&`P&`P&`P&`P&`P&`P&!&;I3JUL.GVJ@W.);3U0
MNU<FJG:(1Z4QFDO7K%&N8F8C7(%$I_!>Q[M1,W:(&`#>P0'VX%/]77K:!>/>
MZ]5NYJ9E>27&R&MNLAGTV#.7LEW?Q]0/-:,VPC&/H]_&S$AL^G/HA^^+Y59@
M2QA)L``_DU0`O&.267#;VX6>PVD;1M?V.4HKM'7[)Q.V'75M[6:TA=IVOW:9
M;LVB<+)_[A@_+2!TW'8#I%(OETDR'%=44\43:;HY.*R[!0FFUBQ4Z>K)G;S,
M%9FZ%6?36O*'-22;N0C6"TH>&C+X_>U]106#E1!PZ4DEE"QT<Z23%(YNW-:.
M1=DJ<NY;-;#4+/([FID=$QA:VP9%K=&E]9TMQ9H=:8EJ+>6LC#US8+N705L`
M1[E-PJV\1(Q&9TB`,'#C]K<FEU`A5:"W:*5ZR>Z)BTR.NK>[3LU;B;AIBOR%
MMBHIA/1C5JXEXBVVN009-5Y`YD*X51,O:Z(0@P<&L[PY23J<*RD])LZP^=,*
M(XE9B0K-[=,$'5QOZ$+8T6,(FLV'LU347:+F0!W*-59<ZHN&92(MWJ+44CFM
M+JRR6^UTQE,WJK&I]E4D9]H\A@!T#8&T?/2+&,?,/>)6\L=C(QC=%9-1VV9.
M%0-X@MD2F*0",B8#`K1L3YS_`!J_(WD)^!ZOPL92LOA#`U3/4.V;-;]YU[&K
M<XZ6<ZQX@JU77>MZN8ZWN57;-JH%<V-L?9[V.7*0KBT,8B]QU=CESE,5DU9N
MCMA#SJQSZ[=M:W.-R:1%L<5=\V8F`P&`P&`P&`P/\$`$!`0`0$!`0$.H"`^P
M0$!]@@(8'H)Z-6Q);7/('<?$YHZ6/JRZ:T?<E]<UH>T(W7EH@;Q7:1N"+KR1
M2=(ZO7-YL&`E2LBB5NA(E>JHD`7"N>?<MI=AE+>R=5N.<-CC.'1@,!@,!@,!
M@?_5W^,!@,!@,!@,!@,!@,!@,!@,!@,"FN]_^2VX=9\GFGWO5)7W+Q^Y#=GP
M4`H5LL9_D@V-(=/:?Y)-L6`S154XD;L:]<9EZN;M:$[2QC@N5A#`8#`8#`8#
M`K1L3YS_`!J_(WD)^!ZOPL92LOA#`T_N0'SV>>?[RL9_TY<?\VVO;/FSW<[?
M+]T%S5D8#`8#`8#`8#`8%N_2Y_U)T/W'=\?Y]<5<QW<[6VW[;O./U;0&9.S`
M8#`8#`8#`__6W^,!@,!@,!@,!@,!@,!@,!@,!@,",W2G5K8=/M5!N<2VGJA=
MJY-5.T0CTIC-)>O6*-<Q,Q&N0*)3^"]CW:B9NT0,`&]@@/MP,`\4[C97=/L.
MG]CRSF9VUQVL?R572;D1+[RO,&UC6<MJ[;#@0*F1RML[6\A'2$BHB7RR%B"4
M8IB)F2@`65I,(8#`8#`8#`K1L3YS_&K\C>0GX'J_"QE*R^$,#3^Y`?/9YY_O
M*QG_`$Y<?\VVO;/FSW<[?+]W;52/C%J19Y!BS;2U[:VFFM8N*=-T)#I5'C*U
MJV%\TB%P5(_4+,LXI!97PQ,U26]G^V,9/2<XY,^'BS872^L)^Q.2PEE?MH1[
M:G#!DNS?1SJ):1PWV@TA4D>_=>:5DVD>I>'#Y%R98Y7#"&/\,?'%PWYK*TB>
M*(0>FZV_=5YD]FK*"S^`A['(+1<.PE6;EA*A3C2*4$6+?R4NXDJ>2<DR/T#L
MA$SN*!KW)++F!"U(B,,4,LVO"UNL56Q-'9G,M+R**"\$L1H_7;"[BX^4C>YL
MDDHDJ)G*CEHHD/C=5VJB2I45R+-D[6M4IA58BTTW6#>P[.DJK$PCAO-L(.9@
M:^0AGP:\>,=QT^FV>"*U<G>(E)8'(2ZL<DH(KHP2"9_A$6$P<Q,X+,1BACZ`
M@6DCM5Q[G22AX2%G7D"]-1:\JY9.V&XJ/'*A#Q)WR;:?C6=(?*&3<.%$P437
M=#W""'4EY&&/_<4#\M3)6)OEAH\*"<FMLYJ6NU1\FG8)6NZR?$L3YOY*)?+.
M2V%=%9)HU>.1\8[7P4@%0GFQ.9CA7DF&/FG2&DZ;*2W@&LQ@\_;G,0#^"5CQ
MK#=FYV>[U^A(1AG!GBZT4T051DRB=<?$9(F+WE\4%DI6>2TBN;[C3*$4SB2:
ME(FY4T\T=R,0>,CI1L,D?2]1GG5J@4S'3!F[:W-VY;N4U#IB5X/:B?\`VR""
ML_<PJPMM=@PC;/&-XMHBT8'H.KWB8(Q[:-!P\D==5=_..UD&HG3,\7L+EV*X
M]Z@D7[T^OP.TO4.99P]+G_4G0_<=WQ_GUQ5S+=SM;;?MN\X_5M`9D[,!@,!@
M,!@,#__7W^,!@,!@,!@,!@,!@,!@,!@,!@,!@4UWO_R6W#K/D\T^]ZI*^Y>/
MW(;L^"@%"MEC/\D&QI#I[3_))MBP&:*JG$C=C7KC,O5S=K0G:6,<%RL(8#`8
M#`8#`K1L3YS_`!J_(WD)^!ZOPL92LOA#`T_N0'SV>>?[RL9_TY<?\VVO;/FS
MW<[?+]T%S5D8';Q,[*P?GPC'7ER2C`T9(I'0;.F[QD9RV>E27;NT5T#F0?,D
M7")^WQ$'"*:J9BJ$*8(,L*ZP;B!B&>/).04-=T)"32?)(PT3*5*/\R89)ZI&
M/#*EEG":CE+O.W\1@H@<J@JJ&(256C[N=#S31^1@K/QI%C/9-D=->$N3-TD>
M":P"LT)VCVMMU1\DYL;=$HE$4UA[CD/V=IC-13Q?M7C];$(\9==XS)%$,\!5
M\5A.'("<969:RR)T4`C`=*@W3A%FY1$A"&6,D!C$\4.C5!3CP1R>U<O7'9XQ
M_+-%Y$T7:GZ7E0.1J@I3#/$9I)V+DJ3DJ:DG#/V#8PIIF5=-P'M\-0IAM:E*
M,4Y4,!@6[]+G_4G0_<=WQ_GUQ5S'=SM;;?MN\X_5M`9D[,!@,!@,!@,#_]#?
MXP&`P&`P&`P&`P&`P&`P&`P&`P&!&;I3JUL.GVJ@W.);3U0NU<FJG:(1Z4QF
MDO7K%&N8F8C7(%$I_!>Q[M1,W:(&`#>P0'VX&`>*=QLKNGV'3^QY9S,[:X[6
M/Y*KI-R(E]Y7F#:QK.6U=MAP(%3(Y6V=K>0CI"141+Y9"Q!*,4Q$S)0`+*TF
M$,!@,!@,"M&Q/G/\:OR-Y"?@>K\+&4K+X0P-/[D!\]GGG^\K&?\`3EQ_S;:]
ML^;/=SM\OW07-61@,#[+.%W)BG<*J+G(B@W*=4YE#@@V2(W;)=YA$WAMVZ94
MR!UZ$3*4H="@``'QP&!V;F9E'1?#6>*^'[M9Q`I)`1LB:,8'15:LE$FY4DU$
M2N6Y%S`8!\1P7QC]ROP\A5UF4,!@6[]+G_4G0_<=WQ_GUQ5S'=SM;;?MN\X_
M5M`9D[,!@,!@,!@,#__1W^,!@,!@,!@,!@,!@,!@,!@,!@,!@,"FN]_^2VX=
M9\GFGWO5)7W+Q^Y#=GP4`H5LL9_D@V-(=/:?Y)-L6`S154XD;L:]<9EZN;M:
M$[2QC@N5A#`8#`8#`K1L3YS_`!J_(WD)^!ZOPL92LOA#`U&^7];E=<^H/RXJ
MUA1.W'9T]K[D#0G:R"S8MCI4_JF@ZVF5V'B@*+H*O>=</6#HR1S]@G0.<$Q6
M*0-=J<X9[L>V>%*,49LR,!@,!@,!@,!@,"ZWI*UZ6M7/?:%^B6QUZGI[BS)Z
MQMDN4AO*(7O=.S]:WFO5Q-<PE(K)L:IJ!=ZZ2)WBBA(-#*=GC)]^&Y/]HCDW
MVXI9,\Y;,N9NC`8#`8#`8#`__]+?XP&`P&`P&`P&`P&`P&`P&`P&`P&`P(S=
M*=6MAT^U4&YQ+:>J%VKDU4[1"/2F,TEZ]8HUS$S$:Y`HE/X+V/=J)F[1`P`;
MV"`^W`P#Q3N-E=T^PZ?V/+.9G;7':Q_)5=)N1$OO*\P;6-9RVKML.!`J9'*V
MSM;R$=(2*B)?+(6()1BF(F9*`!96DPA@,!@,"M&Q/G/\:OR-Y"?@>K\+&4K+
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MK6C6R_SK.%WEO!S,NX:FP$A8I-M$MWW&&.9+R:[*..5`BSA!(RHE`ZA"B)@=
MV>D[5O5/HG'V7/J3_P!1P=_3QOK^%7'=GI.W;U3Z?R?9<^I/_4<'?T\;Z_A5
MQW9Z3MV]4^G\GV7/J3_U'!W]/&^OX5<=V>D[=O5/I_)]ESZD_P#4<'?T\;Z_
MA5QW9Z3MV]4^G\N_K/I(\\+9+)16QMK\8--5%44@E+/JEYLS=E^\MX@F=-Z]
M$7S7VG*I#2"R)?#2>O#RR2!CBH9FKV`0TG<NG**+&W9&<S+W7XN<6]2<0=3Q
M^HM/Q;]M#IR4A8[)8I]^::N=_NDT*1Y^\7FP*II+3EFFCH)@HJ)4TD4$DFZ"
M:3=%)(F;I8K`8#`8#`8#`8'_T]_C`8#`8#`8#`8#`8#`8#`8#`8#`8#`8%-=
M[_\`);<.L^3S3[WJDK[EX_<ANSX*`4*V6,_R0;&D.GM/\DFV+`9HJJ<2-V->
MN,R]7-VM"=I8QP7*PA@,!@,"M&Q/G/\`&K\C>0GX'J_"QE+)6S[RM0VU,>E<
MPC-G.;!K=8EW<Z)R-F\1+`^,]6;+A(1Z35\0K4!355%5(@=>Y,W\@A717FM2
MFUD>PI8T9F,1L\)"M[!'2<.BW7CK&CL*3C95HS+)R9Y!BA!ZV=K*+>(@=120
MCB>`F#A8S44<5AS7@B&!&4I,TY$SZUI(.(J3JS1=6(I=0U[99^<<14U8FJ**
M31[L-)MX#%_*F!I&OWZATV[5<$Q1R)#DC?48?5%@CX&K2+*QTG8NP+^T9G;J
M*1];UG>M>Q%D<5Z2E+M`-2'1I]BE7:(&2?F</62*?:FB995,4?$O-F#=B#F)
MH$L_AV^V&^FWLFXL4+$"XM*YZZS]X0364*V%Q6?>-G0,1Q)GAW*D>W=N"M^]
M#RYQ1*]6<MJ[MV<JT/6:586S>U)$6;RDO-TM#W>*,(XFY5C*P#&Q2%MC91BT
M1271(XCTFT@Q?-735PJDJ?PA1;7"*T<T?F=<L?W:-[?Y6VK"QG"Q,I)QT)&2
M,S,/FD7$1#%W)RDF_<)-&,=',&ZCI\^>NES$1;-&C9(RBBAQ`I"%$1$`#"(9
M&;2HTDW.Z-+N()`B2"Y#W2#L%!%T@XCUY0KB/)=XJOJ23=-@U5454;@J1$$C
M@H)1(8`#L!V)K\J4:N:\TX$)DL::'6&S0H)2I9KS/N<T:H+WL?%EO)K>6%(3
M^/X1^SN[3=`Z:8V]KR#+('>3RK@(TM!.X]RPEAL@JDVA:'E+HBD>6O14H:62
MG[1'K,RF:@L5!1,PKBD0.[`_*.YM3JP,+95-B5!A#6&&:V"'<3,ZP@EW<2\B
M64Z@Y]W3*S"2;G"(DFZZB*J)%DB+%[R%$0#!1W!]D:[39'DCWVEDCDW;I@=^
M>TP961'S%JB^>LCNA?`@5VT9.4UE4Q-WII*%.8`*8!$)>@NBY11<MEDG#=PD
MFN@N@H15%=%4@*)+(JIB8BB2A#`8IBB("`]0P/K@,!@,!@,!@?_4W^,!@,!@
M,!@,!@,!@,!@,!@,!@,!@,!@1FZ4ZM;#I]JH-SB6T]4+M7)JIVB$>E,9I+UZ
MQ1KF)F(UR!1*?P7L>[43-VB!@`WL$!]N!@'BG<;*[I]AT_L>6<S.VN.UC^2J
MZ3<B)?>5Y@VL:SEM7;8<"!4R.5MG:WD(Z0D5$2^60L02C%,1,R4`"RM)A#`8
M#`K1L3YS_&K\C>0GX'J_"QE+-UL4NR3)F:C,ZL^D/.J^?1MDG+13+W>6)E#H
M>3<P\3,K^=4G2LDS]Z781H==0.]0B:2A%%HGE!R"KD[?&.T=3MB0E.DW"479
M8&HV.#@[BT@[K)ZRDV$9+2-OLK6/F;1/SU3G(@RX"U3A9"107,*T<JYPM,DI
M7Y?STL6.;UG6Z#%Q(RU27;2EGL)4X!:IS6_W&EY%XJHBT92:;ELV@9!^Z<LD
M)1I!I/(A5UXI9`B0"CGQ_,]B_CJQ.*ZJN43!V5:E(@\FUV\<XB5+?<'59%K*
M-3M3IMI"/B(Y6P%2%8".H!U'NR'*1V?RPIXI91M^6W;\BI7J33`HLO&PSV5G
M7VQD#23)LNGW1K-G#Q,/,P<A9(ES..>U*<9JJ0[P8F11;K'#RKI846NPA@5H
MYH_,ZY8_NT;V_P`K;5A8SAGNSUJ!NE:L-.M,6VFZQ;(.6K5CA7I3&9R\#.L'
M$7+Q;LI#$.9L_CW2B2@`(")#CT$,(KS:N(VK;K(KS-G=VN9F7E2LE&?2TE(1
M,B_>UFS04'`N6SA>0@G?658HUMDJWE2@66\1-0BKI5!T[17+4C>(^KHJQ2]J
M;/+4,]-VVXWA_)*OH47OQCV!!6>M7)RS?$KZ;^.8SD+9")F9-U4F2"L<U<()
M).1=+.A5VT9Q@UU&PDQ`"ZL,C&SCZG2$BC*JP#Q-=:E;7M.Z8\BC4:\1BLW?
MWVY/EWB:J2A5D%"HE`B90#!5QU>*VLU+C9;N1Q9FTM9ZF\I+ELV?Q:49'5YQ
M96EP:LHAI[E$S4D1869%VA3G4(D3^A$ID.B0"LHX3A=J-.2/+`[MAWRC]_)B
MLN[KSD4GL@QJ\<LX9`YK*ONMR#:I-R^.U\!PHFJX24.=%8Z>"JV^$,!@,!@,
M!@,#_]7?XP&`P&`P&!TTS8Z]74TEK!/0T$DOXO@*S,HQC$UO`*4RWA'>KH%4
M\$IP$W01[0$.OW<##DMRLXNP!4#SO)+0<*1R90K8TMN+7D<5P9("BJ5`SRQ(
M@J9,#E[@+UZ=0Z_=PM)Y.D_;1X=?2QXT?IVU;^=6"D\G=Q/*SB[/E7/!<DM!
MS1&QDRN31.XM>2)6YE0,*15S,[$L"1E`(;M`W3KT'I]S!2>3,,)9:Y943N:Y
M8(2P-TRHF47A)5A*HIE<$,HW,=5@NN0I5R%$2"(_"`!$.N$=W@,!@,!@,!@,
M!@,"FN]_^2VX=9\GFGWO5)7W+Q^Y#=GP4`H5LL9_D@V-(=/:?Y)-L6`S154X
MD;L:]<9EZN;M:$[2QC@N5A#`8#`\'>4WJSZ-T7STT_I6]Z8Y3ALBH-MAU:,K
MD#JN#GG.RE=J*4R,H,SJPS"]'+<H.PNZ\X3(JEX:R2Y1;JI)N4ET4I5W%LS$
MO=*)>KR45&R+F+D(-R_CV;UQ"RQH\TK#KNFR:ZL7)&B'\K%&D(]104EA:NG+
M<5"#X:JA.AQKAV&!U,Q/P5>;D=S\U$P;10XID=3$BSC&YU`(944R+/5D$S'!
M,AC"`#U[0$?N!@8#LG,OB!32*J6_E9QMJJ:"2*ZQ[)O/6$&1%%RL#9NLJ:3M
M#4$TEW`@F0P]`,?X(=1]F%I/)AN4]4KTY8E9RW5YK\;Y)PUZ=Z%:VG6+<LOU
M*4X^02JKZ9/)]A#=3^6!7L`IA-T[3=!IGDBCOU=O3H:B3LY,P$F4X&_I:]2M
MI6=!,Q>G5-PXKM&E$&RW0P"!%#%.)1Z@'3VX*.F>>L;Z>#04P+NJX21%2B8J
M]?XV\I+,T*)3"4R:KRNZ6E&B*Y1#J*9SE4`H@/3H("-I/*4^L>KRQ]53U4HG
M87'NPQ'!'?4M+3ECK=EU_LG3-VX8\F$'&P*7>8Q>NR;^C7VT:7@HNJ6J$8R*
MQCHR#I-F[;")TE47"!4GDF+N4NK=-<9CU6=X=^K[IN(TC7'/,[DG.W#?$Z4)
MFSQVON$G+*NTZBINT$1;4N-78:&7/97T3T-YV2%3P%W)S$;E\!,BJUI=RE)I
M7"8IYPMJU]8GT[G29E3[QLD64#BF4+%Q[Y,5=18Q2E,<6J-CT[%*NR)@<.XR
M13E*(@`B`B&*3RE/K#N6OJY>G.Y2%4_*&HQG10R8(V"M[#K+L_:4AA528V&G
MQCQ9L/B=`5(F9(3`8H&$Q3`$6DIM$^IUZ=,RLHW:\XN*[95%+Q5`FMXZ\KA2
M@!RD%,%+!/1B9G!3&]J0"*H=!$2]`'HJ:9Y,W5SE1QAN)DR5'D=H:U'65:(H
MEKFW]>SAE5GX]&*298RPNA.J]'_9%#J*G_=ZX*3R9N8OV,HT1?QCUI(L7)3&
M;O6+E%VT7*4YDS&1<MSJ(JE*H02B)1'H("'W0PCEX#`8#`8#`8#`_];?XP/R
M8Q2%,<YBD(0HF,8P@4I2E#J8QC#T`I2@'41'[F!YR[J]5OA3IJ7EJ@UV2]W;
MLB&,9%]K3CK`/MPV5D[3.*:S&<EZX/Q`IKU!0O11.=FHL2#[!Z#B*SE"TIC.
M$//R\^L!RAMHN$-(\6M=:J8=O<QL_(W8[VYSRQ52_P!%YG56G$FD8U%#IU4*
M-W$QN[MZ%$HB/<;=T^#B;[(XS*J-GY3<_P#87P;?S*L538G4\92#T/JK5VLF
M'?T.`)%G;-!;.OI4$RG[0`DPGW_SC!W`42=QM1QES.[RMA@.>J$U=>\VR]S\
MD]J'4+X9R;"Y([LG(T4>U5/P"UQ.\,JND@*:QP$A&)2CWF$0$3G$U[=G).[?
MPE!DN-/'TCE5ZOIG7$J^7[17?V"IQ%D?K&)T`BBKZ?;23M14A2@4#F.)@*`%
MZ]``,ZT6],.==_5*7--2ZJCQ.+#66OF0J@4%1:4RN-A4`G42@<48T@G`HF'I
MU^YURTCDFJ[JESODXUY^(5+_`++P?_D<4CD:IYRX3S4VJY#P_/ZSU^^\'O\`
M"\Y3*XY\+Q.WQ/#\:-/V=_87KTZ=>@?]F*1R-5W5*(.>-/'QPX2=DTQK:.>H
M',JB_@JC#5V125,8#"LG(0+6->$6ZA_/`X&Z"(=>@CUFBWIA==_5*<P=0F:8
M"?R;;FY)ZL,D4$TR:\Y)[OK\<"1?#`J*E>^/+JLKH%!$@`11D<G0A0Z="%Z3
MMV<E[M_&6?JORFY^:^$I:ES*LELCR'%4L)O?5>K=G,?$^"'A^^ZS`ZPOAFYR
M$`HE4F5.GM,40,8PFYG:CA+J-WG;"T](]7[E54544MU\7M9;8B`$@O;%QVV)
M)T:RH)I@'CJM-7[A3DX=\HK[3)I?'5(Q>G;W'$0'.)V[H\747V3QF%_M*>K+
MPJW'+1]2D]A2FA=BR:I6[+77).`7T].2#I0Z22#.`L4VNOK6XOG*ZO8DA"3T
MDLH8H]I1`2B/$Q,9PZSRQ>DA3%.4IR&*<AR@8IBB!BF*8.I3%,'4#%,`]0$/
MNX'ZP&`P&`P(S=*=6MAT^U4&YQ+:>J%VKDU4[1"/2F,TEZ]8HUS$S$:Y`HE/
MX+V/=J)F[1`P`;V"`^W`HMIGE[K?6*]2XI\A=MQ).4%<V*GH&#KD@LM)[$W4
MV;1\?+ZYV^SKD.V=RB\3=M8RL9*6&7!NE"1$Y[S:*N">3-A:<8C!Z#NW;5@U
M<OGSENR9,FZSMX\=K)MFK1JV3,LX<N7"QB(H-T$2"<YSB!2E`1$0`,(\^MI^
MJOP)U3(NJ^[Y!5W8MO:J';J4K1,78M]6=)ZF;L/'R#+4<3;VT"\(8!`Q9)9D
M!1`0$0'V8SR6E,\%-;?ZUKY^`ET?PJV_9TO$%(DSO&^:^T1$+%ZB!73:/AE]
MQ7CP.G0W:ZAF2HA[!*4?N=19=/!S-UD?Z4RV!SEYG[2O-3V&I0>$FK[A04K(
MTH%Y+JV\[WV?0X^UM4&4^SJ=VMMJUM&1)IIFV(D\.G"E!<A0`2=G>FIU&U/&
M8<SNV\(ECZP;_P"<MX*H2Z<Y]U(H*$["QNKZKI34;!'O1!)?PG]9UDK<1[S%
M`Y!/+G42.)NTW:(%+UVHXS*=V>%L,.351G+>=1786[.3FRE%/NEO7)W?$TQ(
M43+'%-"%)?VD"W1`ZYC%33:E33'VD*7V]>NW;R<]R_F@B?&GC^#L[]UI[7\R
M_4*!%'UEK<?:7IRD\,$^YW8TI1P(I%2*4@]W4A0[2]`$0RZ+>F$UW]4IU&ZT
MUS#"4T/0*3$F(8YR&C:K!,1(=0GAJ'*+5@D)3*)CVF$/:)?8/LRTCDE9YRF"
M#=!JD1NV01;()@()HH)D123`1$P@1-,I2%`3"(^P/NCE1]L!@,!@,!@<5VQ8
MOR%3?,VKU,AN\B;MNBY(0_02]Y2+$.4INT1#J'MZ#@0:3U#J>:*8LSK#7DL4
MY52G+)TJM/RF*L("L4P.HQ4#%5$/A`/\[^7)ICE"ZKNJ45;<;]&QSH[Z!UK7
M:D^4435,]HR;NB/`51-WH'(ZISJ#72,W/U%,2F#PQ$1+T$1ZS1;TPZ[E_5+)
M,)'[#IWAAKWDERSU\BB5,J4?7N3NYW\$F*10(B8M9N%OM%9Z(II)$(068IE2
M2*F!?#$Y#<]NSDO=OXT]&::_RBY_TL$D:SS9N<^P0`OA1>X-2Z1V(C\%,B10
M7F86CT"YNB]A`Z^)*F.8P=PF$YCF/.U'"Z5[O.V&?JUZJ7/FJ"0+=K3BGNQD
MV.0#>X'NT^/]@D6R9B@<3*OG._()*1<I@/PBHI($,/L*(!T'F=J[A,+W+.,3
M"R].];"F)&*WWAQ/Y%ZQ4'N,>>H*-,W[3DDTP*"ASJ4>?8;([A,;X!0JPB8A
M1$>T>A1YFVZ,X=:K9RNA>;2OJ+<(N04DWK^L.26MGUP=&13;Z^M<DYUILM=5
M;J`)-];[*9U&\.3D.7M/X;`X$,)0$0$Q>O+JDKIX0P&!_]?<<YH<[-6<,JY"
MISL=+['W#?$Y%+4^C*8LS"XWEW'D(#R4?O'I@C:508599/WK/R`@T9D,!$B.
M71D6JK&<(C$X5F:0UU=U;9Y+<O5W"_)[9B[.ANS&%IQITS)S=.TLQ:&`03:7
MF20<-+MNA^`%(98TRZ3AC+%$48M$!]NUNWQN9SN\+8I_ZC,!7:_5(MM!U>#B
M*Y"LB]C.(@HUG$QK4@``=K=BP10;)!T*'\TH?<S2(B,(93,SC,XNYRA@,!@,
M!@,!@,!@,#J)VOP-HBW4)986)L,,]+V/(F;CFDK&NB![0*X9/D5VRP`/M#N*
M/0<DQ$YD3,8P[_2NT^2?$`Z!^+>SE_B$R-XJW&?;KR4N.D'R`#U484MXX6<7
M72RZGB*'3&"=#$%6,!E8Q4H"&9W;<?Y:QN]<5;$7"SGOJSF5$343'QDEJ[>%
M%;-5MGZ&N#UDXMM62='*W;V.`DF8)1]^US).Q\-E/QY/+J'Z)KIM7`B@&,Q,
M328Q:<*Q."].`P&`P(1LF[4/7%"MEXV?;H>A:_K<(]?VRX3T^%7BX&(\/P%W
MJ]@!VQ5BU>Y8I$5$EDU_',0$A\428&EK[DU33>;!N87IWU/:$.])'7)FAN[F
M99K+LQE*3=R9+5U_L74VK[:*>[)EZ:HOW:#25O=J;>8*][AC3D3[E^K=N;L<
MH6[<B(TSC/@GNP("W[T>FE>36W=G\C7ZBIG`P^Q;$+363)91<KE0L+IBH(5S
M5<<W!9,G9WQ2ZY2D*`K&Z=<UC;MC/%C.[=PP=]#PD-7H]")@(B,@XIJ7M;1D
M.P:QD>W+[/@H,V22#9$OL^X4H9WEDSSS=GE'9LX29D4%74?$2;YJ@*P+.6;!
MTY01%NW,[7!59!(Z:8H-2"J?J(=J8"8>@>W(.LRA@=C$P\M/R+2'@HN1FI=^
MKX+&+B63F1D7JW:8_A-&+-)9RY5[""/:0IAZ`(Y!^0BI0T8>;+&OQADWQ(Q2
M7!FX&,))*(&=)QYWX)^4*^.V(*@)"?Q!(`F`.@=<HX&`P&`P/J@@NZ71:M45
M7+ERJF@W;H)G67776.":****8&45554,!2E*`B81Z![<#E2$5*1)T$Y6-?QB
MCIOYML209N&1W#7QUVOF4"N4TS+-_,M54^\O4OB)F+UZE$`@^?D'WDTY'R3O
MW>J[48)/O+K>35?)))+JLDW79X!W:2#A,YDP,)RD.41#H(=:.SD*K9XE*06E
M*Y/1J,0_:1<JK(0\@S2C).0;+/&$=(*.&Z9&3]ZS;**HHJ"511-,QB@)2B(2
ML<RD\G7+QLBV:-'[E@];L9`%!8/5VJZ31Z"*ADEA:.5$RHN025(8INPQNTP"
M`^T,HYB%<L+EB:4;0,RXC"-W#PTBA%OE6)6C0YDG;HSM-`S<K=JH02J'$W:0
MP"`B`ADK`Z;*)"\J-KC_`!//UBPL?">,8]7SD+)-O"?R;8CV-8J>,V)V/)!F
MH55!(>AU4C`8H"4>N2L<RD\G7R$/+1/@A*Q<C&>9*J9O[P9.6?CE05,@L9'S
M*2?BE16*)#"7KVF`0'VX'791%K71Z7>V'NNZU*MVV.Z&`K*R0D;--DQ/T[CI
M)2+9P5%3J4!`Q.A@$`$!Z@&28B<X6)F,I=UK"Q[_`..?E_V8>1NR]7Q+("E;
MZRMDBON;2)T"B8YV26NMBNY1>JMG!^WN-6Y*#5*4.A3?R9G.U'":.XW9_P!1
M5ZM\?O6,8(2D51^<%"A]'/Y)ZVBHK?U%D9&=XY2[YXL5%H6W+3`&MNCE'"RR
M:0*39GT(0W43RY0Z!F=ULVYQ@TB;;O;./)[=>\H[W=[W\^R]T^2]Y>\_-(>[
MO=W@>:\_YWO\MY+RW])XO=V=GPNO3VYRK__0M57=ARW(FV7OEK<7"LE;N0,V
M\L,*HZ'O^*&G6<B^0T_K>&)T(5C$5NFBW6<$*0AW4L[=N5NY94PYOMVTMKQE
MEN3_`&T\(3O-&9@,#*5=U>^GQH#,)`C69VE)NHJD1_E#.$GKDDN6N1YY)X5P
MG[M;R]E!1DD8J:XIF1.HJ!$^TQN9G/P6F7B^[S3=N:0SN132;2+]@_3:O(>,
M=L7KLK9>`@K"B[9>"\,K+'*UGDP51:I+'1`AU##X8"8%8*(W+:[N$%%N)F8B
M2Q\<V,R3.NYDHDAE5)`RQ&J3)MY\74@J<S9;N(@10R7EUN\"^"KV6L2E$[-I
M-^*,<HA--UDIBHO;;#RPI,$JK+(1E=:SDO'L[0::&/0?P;I<S*01>`T<,EP+
MXJ1>X0)-2T0U+5U\6670"OJIJM'DLP?`Y>QC0L<\@V]A=RK>34=/44XQ1HUJ
M4FH/CBGWD9*F+W`0<M82DN^AM*WF7&4;^[19R36)0DXEBX<QI2SRZMOJ=.-$
MM7IY!-JA)@]N+0Z:1Q[UBG(4H"*J7=-4+2740VM+#)LY60=-U8YC&5Y6=%<4
MT78B96`<V:#8O6Z+LKJ+-9(5DLX8G6('F$4S'3*<A3"%JE',?:CM[6)BY)LP
M5?J.8V:D)=HW\J(P!H5_.M5V+U<CQ5,TDHWKKI8&W0CD/".0$Q,0>JL+24?G
M:#:ZTW5=34:DT00<&9KG3E8=[X+T@-C*,E2,7[DZ;U)-XBH=$0!0J2I#B4"&
M`PJQ*40[*&`P,?6W84SQXGJGRSI"ZT;>>/<BC:W*C0XI?''6`O&@;3U=/E*=
M,LE7KE4B."D24[@:RB+1XEVKMTS!GN6UMF>,--N?[:>$MU3,&I@,!@:UGJJW
MJQ[0YBPN@K2LX0U+I#4NN-RP5(475+$W[9.Q[1LB&;[`L#`IR-)MIKACKWR4
M,BN18C*1>/'/L5%N9/3;B)F9G@YW)F+8IQ4_S=@8#`8&9ZCL:&A$M6'D&DF5
MSJ^[R-N20C4FIFMB(Z>UV52;.EEWC92-?G<0`-5G()N0,T,ET3ZH=JO,QGXK
M7))7FQ]5O(I1HI3$BKGKZ+`R;.DU",$9,E`J$:LLE,M7XRK4%K["/'H.@[W)
M6SHP]#"LL@*D\RL.R]_ZSD6%\?QT17VS`J*,7622M:IT3--&SQIL#N6<1)K:
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MT-3LE61YZFM9`A)D)*0(UUM1RIN$C7:AR3A)NFYEU%6[5>FQ4XT*S\46R"S]
M,">P/&23$\RL.EC+]K&++&E1K!%B-*JP:F*^H53E7!+61.HHS+]P[EIMZG.1
MTHI!O'"'C((&8B\.@5-0JBJHVD\TK`YVC44+W7;!#0T@A`152N5,,R&.BV+^
M+9V9*\P\?-1'EW[E%S,5^*M3=ZW\91/MD&H$\02`"QE)I0K%7XHMWU36EXDD
MU6G\\U;1[!O*J/Z[#S7GW0;.K4]*+-8J>L3V.B3+:]BWD:51J*!U5W70X%#J
ML"8F>)$PY+W:%%4JQ8%"N`L=>*73D4%JC5V3%6?=:^9U<DY&JLWIUH)[&62.
M0D@6:)HJ/^PQ5^@*J@HI-<RL.IOFPJG8XS8#2'9RS=S9[]3+/'+.HY)MXT;7
MJ]=(Q\$P8+-+$:R)GEH(**;9(R1DR',<Y1$I`1$Q0F8Q=O>-BZ\G:,WJD`SG
MVBT"";.M*2M9K[HWN%=T$JXBY*6-87<@A-,95=8`EVY.YZS\-N#1F@4$BHB:
MU)F*(TK>JJ_F-;3DFQFC$J$#7*[8*RV3:DBIN,@7"R#]LRDAD"+,F]LB53^>
M3,T.7S3EP<?$*J(`I.)7)$K7)UB5;1(Q"#AM(1;!.,>+EK\5"M[&<TQ8Y$\Z
M\:Q<JX;13]K'/(]@1NBDL1<C<RQU2'#M4L53!GF1W/KIU.5*RHP]C0EZ85"$
M:%;146R:3<$_J:4))61^G\9'I(O8==DQ,M'NT2+IOD&[,B_@&:@8_.F<G58P
M5[FWM;/!U^+@V\B+V/<SKB7E'Q56A9+SZK`(X$HPLW+L6JK1JS$JBB)43*]Q
M0/W^&4V=8N44RA@,#CNVC5^U<L'[9N]8O6ZS1XS=HIN6KMJY3,BX;.6ZQ3HK
MMUT3B0Y#@)3%$0$!`<#!?[0&SOBK]F;[VL7[-GQU^/'O3SSOK\G?Q5^,G[(7
MOOM\;XF?&S_?WN[O\3XK_P"Z^[R/]'F&F.YIX/1JGMZ_]9?R_]'T'Y"Z+E^$
M>^)W3]B9+LM*;+N5CM'%O8"XG]Q2,?:I)]:)C14F_/WI1M\UO)R#AO%MW"WB
MS5?*V70[UD'A$M=N[_,L]RVO]X^J.YLR,!@2V+N]BAVT8W9.TB&@G#]W7GBC
M9!5_`.I,$@?.(EV<@JMU5#(E42$W?Y5QU7;^$N(JC*%92-ON"[M?AHO69')2
M&*F]3CVZ+I(YJ]&5CS!#H`DF9R6+B$.BABF-XI1./41Q2%K+H)N\S,^Q?1[U
M"&;M9":)8%THJ&CX9()(B;]/Q$6T6BU:(I&]YKCV%3[2@<"E[2$3*11*N<AL
MJS-V;Z/1-'),),DF$BS0CT6K9ZXEXLL*\?*HM/`(F\-%E\(#I@0.ICJ"`JG.
MH92"J0O=Y7^1"2(\<Q"J4LK-K2"1(.-;`Y4L2-\;RQS*M4$')3N$-ES!0,!P
M.0'(=H@*9.V:86LNO8[?N4=,FL#92&),*)0A'#\D%&-UGJL!.5FQL'C[RC=N
M5Z^-,5"/6655`QESHG$_4R[@55(*N*UVI<6B#END];>&ZB&$(L;RB95U&,/"
MN:W!`HZ2\-RLO`U]XJS:**'.9-`W01$2D$MI!5RYC<-VGF$A%RBL"XCY)U[Q
M7;!5*TD5.7,ZEWJDPU42BR+MI!1U8'Y^I#`F079^PA>B?8I!6722^P;+-)6%
M!RY120M+Y"0FT&B/@HO7+;RADC*)B<Y3^$LQ(=,3=QFXF5*B*9%UR*J1@E90
MG*&`P.PT;HZ7YQ;RBM"5B//(Z>I-DK]AY77X$U%*Y!U2#DV<XEI)C(%3.QD-
MC;279ILG3$IQ4BX%1VZ6*4XMR*8[ET>V&NW;3^\_1N!YDT,!@,#SDY_\#T^6
M$16]@ZUL,;KSDOJUA),=>W*6;NG-2MM9EG+5]-ZIVHPCP\])T><=LDUVKI#N
M?P,B`/&G<!W39U8F;9K!2)BDY-=BS3EGU+=V^I^1U$F]`[6<G73BH"Z*H*52
M]$;*^">4U1LAL!:CL2)6/[2$:K)R:(>QRR;G^#F]M\3X2QNV[HQC&$OSMP8#
M`8#`8#`8#`8&="3>N4W#-HMYIC7T368DHWB&D:M,341+1J)*IX;]W&R;09",
M1(FD\0<%0!J\(=VW5,Y6.<G.*X/P@YTT1UX3B.:JMAD$"F<D6NIND<W=4=LN
MHC]\M5/$D&1IYR!3H]4U2H$`0*`%._L8/@8VGR,T'1$T5I(6+=96.4+;TXXL
MD%-DRNV9CD<>;59C=",CI*%7(?RZBY3=`(F8[$P?*W):[9JRJ%;;MR,U:YYQ
M`?>@2;H)%Q)Q;6#0:KE>ODA=*Q+(91X42MU6@R;E@JF11LF`HJ31AK.D,!@,
M!@,!@,!@?)==%LBLY<K)-V[=)1====0B2*"*1!456654$I$TDR%$QC&$```Z
MC@<?3=4W)RZFUJIQ(IY+E'HO5(RR;_LR,A&<>-?J)*&2?*'N":(&V?8V';\"
M%K(/U!5$A7;ABD85@RNW(C"W&6ENW.=V$?=[@?9'Z0_9$_9P^-=A^5#XZ_+1
M^U'[KB_E+_:%\OY+Y2O=7?[H^+WN+_\`7OBSXGD/BG_NWQ?$^_,QK-:UQ;>%
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M!.;,V>^,*<=JS4]?EMD;$>J@82B!JQ4VLD\BVY1*/>Y?^4:)``BHJ0`$<YF^
MV,Y=19==E&"_NB_2]Y1<A#LISD=*K<4-/.O"<*:UILY%V+DE<H\5$E08V:WQ
M8R-'TU'R+,_15.*7FYPGPDQ78*AU#*[<F<L(:Q9;;GC/V;!.E=(:GXZZXK^I
M=*4:#U[K^LHG3BZ_!-S$3.X7-XK^6E7SA1>2G;!+.1%9](O5G#YZX,95=510
MPF'-UFRK@,!@,!@0+9>J]:;FJ$EK_;=`IVS*1,%`)*J7JNQ-H@'9RD4(DN>,
MF&KMJ5VW!4PI+%*"J)A[B&*;VX*TR>0^TO15UZ11Q*<4=Y;&XZ.#',LEKRSD
M5WSI(/A'7%I'U>[S+._U)JNY./\`1Q%H:,VY#=$FH%*4H=1==&4DQ;=G;BH3
M?.$'J'ZC47/+:&I/("O-C&4-:>.&R(MM.>2*``*SO5NY#T.43>`/M\M&3$V<
M>O0HF[>XW<;O.'$[4?YN]51;/MN`UR]"*W/7]CZ!E_'*W%COC6EWU2@913N\
M$S:P6V$CZG(H.`((IJM9!=(X!U*80$!'N-RV>+B=N^.%?)-X*S5NT-//UFP0
MEB8_!^_8*582[3X8")/OB/<.$?A@4>GM]O3.JQ.3B8F,X=WE#`8#`8#`8#`8
M#`8#`8#`8#`A]IV%0:,B+BZ7:I5)'M[@4LMBB(,I@$!$.SWD\;"H8P![`+U$
M?Y,DS$9RL1,Y0Q\]WU!*UU.U4BA;JVS`N)&*AF4UK/4%YG*W)S<^NFTKL%$W
M60B8:BRL]9'BI48]BWDU'3U8P$23.80`>)W+(XNXVKY\%^]<^G;ZA&X&[1[+
M5S3_`!2KC\C=0SW:%@>;AVDT:.R`J#A+6>MUHFEM7S=$P=R#RXE.FM\$Z0]#
M`'$[L\(=1MVQG-7H9J7T8>,]>=,9_D/8KYR\LS1PF^)&[==Q\7IUD]2.D9(T
M?HRF-86C2;1($Q`J=B+85/AF[E3=2]O$S,YR[BD>V*/6J&A8:N1,;`5Z)C(&
M"AV3>.B(6&8-8N)BH]HF5%JPC8YBD@S8LFR)`(FDD0I"%````#(.SP/_T]_C
M`8&+]L:1TYOBM*4[=>K-?[8JRA5P""V%48*VQS=1P0J:CEBA-L7H1SX`(42.
M$/#73.0IB'*8I1`9/,"^>BEQU<JK/M"[1WUQK=?"49UVJW=+9FL4EE`$%2GH
M.ZH^_F8L5.X1!M$R$2FD/3PO#``#+%UT923$3G;"HUN]*7G53CJC0-O<9][1
MB!?%13NL!L3CW:G1/:<[4SBOJ;VK+AV4!`A%?"8HJ"'<8J?7H'<;EW&(<SMV
M3E,PKU8.+O/VEE56LW">ZS[%`IA5E-/[8TCL1#N*4ZAO`AYJ]4"YND_!((@*
M<28YCAV`03&(!^N['&)<]KE=#$DLWW#6CJA;N)_,>LHMRF.[?'XO;?M40S(0
MPD54<S6O:Q<8@J29^@=P+F*?J`D$Q?;E[EJ=J[P]4+<;4K[-8[:0KFWHIXGV
M^,PF-![SAY)#O*51/S,=)ZZ:/F_BI&*<G>F7O3,4Q>I3`(W79S3MW\D7<\DM
M),S-2N[VU:F>NB,F17,18D#.WBB:JR;1J"L047#HZ2!S`F3J<2D,/3H`XUV]
M1V[^E*$-IU]VN5K'US;LJ\.)@280VA-Y34@X\,ICJ>6CXK7;QZZ!)(ACG%-,
MP%3*8X]"@(@[EG,[=_),HI';ME\,:?Q3YBVI!P)`:/F_%W<=9B7GB*^`4[>:
MV!5J?#BD5QU(<YERE2[1,H)2`)LG<M7M7<:>K+=>XP<_+MV*5CA->8!BJ4/#
MEMP;5TAKIH!S$16*"T3$7R^W5`AD%RCU-$=2G`R9P*H0Y2SNQPME>USNA8BI
M>E-SJN!TS7S;7&;1<:X$%%$J;";%Y!6EF@(@/E@<SOR$UM)^!!Z"KX+U`A@Z
M@10/9G,[EW"(=1MV1G,RME0/11X^MCMWW(#;.^>2;T!$[N`G[H75&LES@F8B
M29:)I5K1G#UFD8W=X,I)RA51``5%0O4!XFZZ<Y=1$1E;#T]T_H?2G'VLEINC
M=3Z]U)5_Z$RT-KVI0E49O5D`4!-W)A#LFJDM("*QQ,Y<F57.90QC'$QC",69
MF<V6,(8#`8#`8#`8#`8''=M&K]LNR?-F[UFZ2.@Y:.T4W#9PBH':HBN@L4Z2
MR1RCT$I@$!#`I3LCTU^!&V'9Y.Y<3-)#.*&.=6SU.EQ^NK>J=0IBF.M<-=A5
M;.J8.X1*)G8B4WM#H(`.%K/-5NP>B?Q7<>,&OMF<K=/I#W"T9U/?<S=HZ/ZG
M\0I&K'>T7M]+P0_FB0PFZEZ^WN$3#8NNC*Z4I$YVPPE.>C!M-H!AH/.V8,!`
MZHH[:XZT2ZF5$`,/A.7FNK9I?M*<QN@'*CU(``(E.(&[NNY?S<Z+.EB67]*K
MGU%";W#M#B!>P*"@E][Q^Y]3"L("F*13`R;;I\L!P.<IA#Q>SPP,`&\02I7N
MW<H3MV<Y8VD^!'J007B$6T+HVW^"+@HKT'DLH8'H-!Z"JU:[`U'0?!&2#VM"
M*K!_*#@[?H`C>[SM.U'"_P"R"O\`BWZ@T-XBDCP4V)(M&Y`5<.ZANCB]/]4Q
M_P"XSCI'=-=FGKH@_P`Y,K4`_P#Q,8,O=CE*=K\H19WJ3EW'"0LEP7Y3-E%0
M,9,C2%U180$A>@"<Z]4VW/-6XB8>@$5.10>G4"]/;E[MO*4[4]4.B<5/D2S6
M.V=\,N8B3E/M\5-OHBQ2R)#&*4X%)(0B\G%.>A3!U%%=0H#U`1Z@(`[EOB=J
M[G#X_%WD!]#7F5]7>[?^7QW+?$[=W.#XN\@/H:\ROJ[W;_R^.Y;XG;NYPY32
MF<D)$QTX[A=S`<K)E`YTW>EG]>*"8CVB<CJU2D$Q6,!A`/#35.K[>H%[0,(.
MY;XG:NYP[UKI[F#()BM&\%.4;I,AQ34%TQTS7E"'`I3=`;6O<T"[7()3!T.D
MF=/KU#NZ@(9.[;RD[4]4)BSXD>HE(G.1+A!8X4"&(4%;5O[C0U25!43`51'X
MI[3NJWAH=O5;O(0Q0,7PRJCW`5W8Y2O:_*$XC/3V]22>'L2U'QII(=Q_OF]<
ME+2[#M3(4P@+.A:#MH@"YC]$S>,(@)1[RE`2B,[OXKVHZOLRA$^DWSAEU$TK
M#OKBQ0FRANQPZKVN-K[2>MTQ52(*K1"6N6IFBRP(&.H4J@@0#D*F/4#BH2=R
M[E"]NSQ9=@?19M#KPB[&YT[0>(F`GG4=1Z<U%K45?8W\4K-S>6.[7C$IC`MV
MCXBIRE,F`F,*9Q6FN_FNFR/\LW5OT5N&#+P1O[[D/NPR)4_Z/97(?93*,662
M4,H1RZKFKI;6M7<J=I@(8AV1D3$`.X@B(B/,S,YS*X1E;#(KOC_P/XC/X.MZ
M6X>:7FM\W`CEWK^ATK7-)=;1L@,U$4'EGLE^L+![+4_74`Y5(>4L,N]*R:J*
M>$@#J2<MF3N+69XX+(ZWT9,C;&>YM\S<9L/="#9RA6FT8BZ)K+2,=)M_`D:]
MIV#DBE<)R#YN<R,K:GR86"=()DS"RCO+Q345Y9++X0P&`P/_U-_C`8#`8#`8
M#`8$)V%KBB[7JS^E;&J\3;JQ(G;+KQ4NW\4B+YBN1W&2T:Y3,D]B)R(>I$<,
MG[15!XR<ID60535(4X!6SS&[^-'L?#;^2NA&WM]Y))*V#DKJF-3]@!(,FR8.
M.150C6_3JN@0E\121^&E9G:YE$BX3YK-4._TK9]6B[MKVSPUPJDR14T?.03U
M)ZS54;+J-'S-84Q\1E)QCY%1N[:+E3<LW*1T5DTU2'(!$OP&`P&`P&`P&`P&
M`P&`P&`P&`P&`P&`P&`P&`P&`P&`P&`P*I7[>-IM-ME=+<:&,-:=CQ#DL?L;
M9<^@Z?ZAT$"J2*YT;<K&NV+F\[2.R<$784N-=(.A(=->6=Q#-9LNY+3FR+I[
M1U6T^WG7[5],W/8EV<M9+96V[JNUDM@[#E69%DV)YJ1:M&+*-@(1-RJE$04:
MW90<(W4,DQ:($.?O(S1@,!@,!@?_U=_C`8#`8#`8#`8#`8%9;YQY4^-,IMC1
M%I)IG<4J=)S97J$4,UK/;:C1!-NV:;HUTB^B6UG<D;()H(S\>YB[4Q13(BC(
MBS\5FL6O-]M>\ADY"TL-3[GJQ]+;L>D<C#UF2E0F:-LQ-B@=R\E-)['%C$1U
M_;(-4E%W$6LVC+1'()F6>Q3=L*3A84]%E,(8#`8#`8'EQM?UBN#NF-G7S4-T
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M1JW2*)E5W+E>BIHH(IE#J8QC`4`^Z.*71C-LE*Y71ZO9#(A@,!@,#C/7K.-9
MNY&1=MF$>P;+O7[]ZNDU9LF;5(Z[IV[=+G30;-FR"9CJ*',4A"%$1$`#`I:>
MY[!Y9JK1>GYJ>U=QL.!F\UOR.\6(V%N9N?H"T7QV%=/QZM0G:0F(ML!<@.7J
M8B-:1$JC>P-RY9YK54#7]*U9486AZ\K474JC7VZC>*@XAOX#9$5UU7CUVNH8
MRCF0E)1^X5=/7C@ZKMZ[64774464.<Q$QP&`P&`P&!__UM_C`8#`8#`8#`8#
M`8#`A.PM<47:]6?TK8U7B;=6)$[9=>*EV_BD1?,5R.XR6C7*9DGL1.1#U(CA
MD_:*H/&3E,BR"J:I"G`*V>8W?QH]CX;?R5T(V]OO)))6P<E=4QJ?L`)!DV3!
MQR*J$:WZ=5T"$OB*2/PTK,[7,HD7"?-9JAW^E;/JT7=M>V>&N%4F2*FCYR">
MI/6:JC9=1H^9K"F/B,I.,?(J-W;1<J;EFY2.BLFFJ0Y`(E^`P&`P-"_F-\^+
MFU^\I;/[MU#/3L^WZN+\X\E?\T<&`P&`P&`P&`P&`P&`P&`P,8;K_P`)-C?D
M?.?@*N<[GLN\G5GOM\W])_/(T,!@,"!;*V?1=0U-W==AV!O7X!JX:,$3F0>2
M,G,3,DL#6'K=9@8IN^G;3:IYZ8K>/BHYLZD'[DY4FZ*BA@*(5F9:ROG*!RTM
M'(R"<TK2R+Q"4IO%EVX:.GEJ3;'(XB['RA=1KE[$6%R"I2KM:(T7=5Z/.!5)
M5:7=@BE&%RR74*4I"E(0I2$(4"E*4`*4I2AT*4I0Z`4I0#H`!]S"/U@,!@,!
M@,!@?__7W^,!@,!@,!@,!@,!@,!@,"LM\X\J?&F4VQHBTDTSN*5.DYLKU"*&
M:UGMM1H@FW;--T:Z1?1+:SN2-D$T$9^/<Q=J8HID11D19^*S6+7F^VO>0R<A
M:6&I]SU8^EMV/2.1AZS)2H3-&V8FQ0.Y>2FD]CBQB(Z_MD&J2B[B+6;1EHCD
M$S+/8INV%)PL*>BRF$,!@:%_,;Y\7-K]Y2V?W;J&>G9]OU<7YQY*_P":.#`8
M#`8#`8#`8#`8#`8#`8&,-U_X2;&_(^<_`5<YW/9=Y.K/?;YOZ3^>1H8#`P?M
MW>4)K!>&JL5"RFQMO7%N[5U_J&IJ-/C/8TV:K=L^GY5V]42BZ7KZ"<O$?>E@
MDSHL&?B$2(*[U9JS<%1+6VB)E2X,MV;^FXS8>ZVS9XC56,8FZ'5VBHZ51.WD
M:]IR&DT47(RSQDJ+66M[]$E@GD^\G2/C3(Q#4+.X0P&`P&`P&`P&!__0W^,!
M@,!@,!@,!@,!@,!@,!@0G86N*+M>K/Z5L:KQ-NK$B=LNO%2[?Q2(OF*Y'<9+
M1KE,R3V(G(AZD1PR?M%4'C)RF19!5-4A3@%;/,;OXT>Q\-OY*Z$;>WWDDDK8
M.2NJ8U/V`$@R;)@XY%5"-;].JZ!"7Q%)'X:5F=KF42+A/FLU0[_2MGU:+NVO
M;/#7"J3)%31\Y!/4GK-51LNHT?,UA3'Q&4G&/D5&[MHN5-RS<I'16335(<@$
M2_`T+^8WSXN;7[REL_NW4,].S[?JXOSCR5_S1P8#`EU#I<SL6X5ZDU\6A):Q
MR*4>V7D%5$(YDF(&6=R4BNBBY71CHQDDHX<&3254!%(PD(<W0HIFD5'>M]=J
M6)%B;7SU]<7;F96@G$6,*:&?H2"ZS)&L-V@+2#QI*O+HHX63C&2"PR3A9DX*
M#;H0ICRO,?XYT_LEFS:2+JJO4&+U@WE$7:CB/*W(P>,:Q),7#I7SG:Q+(,KI
M%*-@7\,S@'Z0)@83=,5CF)G6.-^S;#=HFGJPRK-%[.TJ#E+&S%M/0D`:\N:B
MUCGCQW%.U4'3=@>]18O?`44%L#M/NZ"<G<FZ(BJT=4YTA:1KD)8H8J\ZG-Q-
M<E4V[1B9(K;W[&[*EEF;EXJX\L1VRC]8/UDR=>YTD!A3#N3.3%2CAL]$;9?H
MMG#2FO%F[L\41JX!_#D0<>^VE.>Q2B2RDB1(Z#QML.`,54!\,!FF)1,!G2('
M:HYH^M#TY,;`JFP9V'D$23FOE(A9>EK-%_?UBBW+*S2=@7KA>\J;R5JD15G3
M]TQ4\)0[%%95,PBB8@IFDPM'(;ZA!_/;EK,;8A=SFJ8^QRL?&#$`D[N["G3J
M<;:S1J9914&+J#@_'FE$A%?K&,'1P-WI%(HKD4S8WM<(C6[',5]%\:1]S/5(
MUPZ,U*T[G[/HA)(E1(Z>IBFUD"*I$4*J8JQ2`H'0#=`L(CV`P&!C#=?^$FQO
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M@C/Q[F+M3%%,B*,B+/Q6:Q:\U`K)ZL2-3YW\7^`=RUDWINX=B62RQ^\E4;7&
M7&I52-7UE/3NIEM>6*,]WOIQ+95N\B)2S,=!RL>P3-X\<'FFRII5=.$SP:XW
M,;Y\7-K]Y2V?W;J&>K9]OU97YQY*_P":.#`8$@JMHGJ398*WU>0/%6*M2K*:
MAI$B+9SY60CUR.&ZBC1ZBY8O4!.3HJ@NDJ@NF)DU"'(8Q19X#*^O[5L-V^&,
MU[`U9BG)6FJRJ$69.-;107R'>NGE-EF[NVRQ@"89+G<(,FQG!F9B.EFX-S`[
M435DQ'%83":VWNZN&KWG6D.#R6K\1(P<Q#.PG5I2%CZ7!:S**TC`V*39/2NZ
MQKXC.59..[S28.DGJ)DG"R9Y2#%]&&R=SI1]&OYJO4'S.$LI[O2K/(QL3]Z6
M77->J,=/B1;WLV$TB]B->Q2ZT>X**JGE?$CT4BJJ^(I&,#AQ>T-P0U89NV5,
MB&E9K)ZXAXCV'E`2<-ZHRO\`#I,3DD9GS4@U]U[4F6[\S<!.DF\(<3HG314(
MI%<\1](S>^X'A213""KP%AXAK(E:JQ3AB",-2X?3MA:]GF99L"A&%=XYUU4I
M""*R[9FL8`.9PH8S3&?_`'_8C%\+?;Y`2#MU74%X6QNMBUJYLYJ-1E&LU"W.
M"/8#02$4IYOP&Y@4L+H025255/T+\+H4>MP1(GMUVU5-FR.RDV:%8V!5[+:Y
M*;EX:.8MDE):8M$TQLYW:3,ZT9(Q)Y2:7B5/``S(K=1-MUZ&)W*12G!6&'SX
M7XMC&;,VQFS-%H8S1$41="B)Q%X\$3G%=\N)_P"D4]G=T#V94<'`8#`QANO_
M``DV-^1\Y^`JYSN>R[R=6>^WS?T:S[&HB5OL%`6ML"WN=5I<)L:QUQS(MVTE
M#T2QREJA86VOD5SI@C`O96DRJ`..OAD49*`<2_![O(T58&\;`Y9JEC],S<WK
M/C6H'^^^0$<!HV^;G:'[BFAN.97"0K5RBOB?[?83A,%7;<0"M(J@X1L#(N7F
MM3K[7E)U54(:A:[K<94ZC`(K)1D+%)&(B11TY6?R+]XX5.J\E)F9DW2SQ^_=
M*+/9!ZNJY<JJKJJ*&(F6`P&`P&`P&`P&`P&!_]+?XP&`P&`P&`P&`P&`P&`P
M&`P&`P*M07"/B/7=M3>^V/'C5CO=MAM3J[R&V;%5F-NV&E:7;D7)I:&MMJ+,
MS=<5:FZ)M4XY9JBS;D(@@1-%,A"EK.56FIS&^?%S:_>4MG]VZAGIV?;]6=^<
M>2O^:.#`8#`GM9O;JM$JRB,<R>NZ5>$;U`"\\?R:CXP0OO%A+(-%F;QVR>'K
M4>8@I.4#H@DJ4.HK]R28&0ZIR,N5.@65<AHF!181R,>G'K)/[U&RD<O%6*YV
MB.DHJ6@[K$R,/+-9>Z*F!RT406.FT;IG,8GC@XFF)6J-5/<]MI3!*-@VT&5E
MY1NW?-7[!>2:2CEA8']AB)=U'O7JT<UFH965=M&[EFBU/[O>.&RGB)N%P43$
M2B7GY+70YG1AA:ZH9R@$?WNY'84FY3@R,6T<WKHOY:]OY%Y",V34J**+I9<R
M2`%0*8$$TDDVF%J^LIR>OLQ+-I5[&0*@-9.\RJ,8>0OKB)(M?Z^WKDFW3:O+
MNY.V81;-`3QR"1TTV:BAP*`I=J96F"KZ/^3MLDD3LG5.H!HH\&M7S0R;>XI1
M)6+BM+5-91!HG="@T>GB'!P\9$4SE5,)R]!'&F.95';KO2>O[:PA/0=?;OYU
MH]9&>P[9VV4*A*6FM6QX+UQ(O960E%&SNJMT&9E5Q.V:*'0`PHIMTDD10JP=
ME0P&`P,8;K_PDV-^1\Y^`JYSN>R[R=6>^WS;6?.7TN.3F_>>5.YG:=V[IDE=
MKU"U]K:SZ%V_'7Q*E[1HU4MLE<+!1-BK5M*Q,;%3K3*OBJG9K1QFQ54DCG05
M.EW*>.C>+HB*4>\3+S'DVGFV[5H[\JAYIHR<'=LVKCPB>,W:.E6D>HY:HJ=2
MIJ&00,<@`(ID$>T*X<K`8#`8#`8#`8#`8#`8'__3W^,!@,!@,!@,!@,!@,!@
M,!@,!@,!@:%_,;Y\7-K]Y2V?W;J&>G9]OU<7YQY*_P":.#`8#`8#`8#`8#`8
M#`8#`8&,-U_X2;&_(^<_`5<YW/9=Y.K/?;YOZ3^>1H8#`8#`8#`8#`8#`8#`
M8'__U-_C`8#`8#`8#`8#`8#`8#`8#`8#`8&A?S&^?%S:_>4MG]VZAGIV?;]7
M%^<>2O\`FC@P&`P&`P&`P&`P&`P&`P&!C#=?^$FQOR/G/P%7.=SV7>3JSWV^
M;^D_GD:&`P&`P&`P&`P&`P&`P&!__]7?XP&`P&`P&`P&`P&`P&`P&`P&`P&!
MH7\QOGQ<VOWE+9_=NH9Z=GV_5Q?G'DK_`)HX,!@,!@,!@,!@,!@,!@,!@8PW
M7_A)L;\CYS\!5SG<]EWDZL]]OF_I/YY&A@,!@,!@,!@,!@,!@,!@?__6W^,!
M@,!@,!@,!@,!@,!@,!@,!@,!@?S7_5#_`-1OFI_C[_CO.?X:?\._^AU[^?\`
M^Y?UO_@[,L9?Z^COA'M^JB7UO\Z^9\3ZW^/F?$^M_CYGQ/K?X^9\3ZW^/F?$
M^M_CYGQ/K?X^9\3ZW^/F?$^M_CYGQ/K?X^9\3ZW^/F?$^M_CYGQ/K?X^9\3Z
MW^/F?$^M_CYGQ=#:/^'9KYT/_IKK_BC_`(=_V1O_`%K_`-M_K?\`P=<DY3[E
9C./:_K5YRS,!@,!@,!@,!@,!@,!@,#__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>23
<FILENAME>g908770g08f51.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g08f51.jpg
M_]C_X``02D9)1@`!`0$#P`/```#_[1B$4&AO=&]S:&]P(#,N,``X0DE-!`0`
M`````%X<`5H``QLE1QP"```"-^X<`E``"')R,C$R,C@V'`(%`#U-:6-R;W-O
M9G0@5V]R9"`M(#(P,30@1')A9G0@,C`M1B!73%)++4-35$T@-"`Q-R`Q-2!#
M3$5!3BYD;V-X.$))300E```````0QC?.L5EL=.P3!*J%^AIRZ3A"24T$.@``
M````Y0```!`````!```````+<')I;G1/=71P=70````%`````%!S=%-B;V]L
M`0````!);G1E96YU;0````!);G1E`````$-L<FT````/<')I;G13:7AT965N
M0FET8F]O;``````+<')I;G1E<DYA;65415A4`````0``````#W!R:6YT4')O
M;V93971U<$]B:F,````,`%``<@!O`&\`9@`@`%,`90!T`'4`<```````"G!R
M;V]F4V5T=7`````!`````$)L=&YE;G5M````#&)U:6QT:6Y0<F]O9@````EP
M<F]O9D--64L`.$))300[``````(M````$`````$``````!)P<FEN=$]U='!U
M=$]P=&EO;G,````7`````$-P=&YB;V]L``````!#;&)R8F]O;```````4F=S
M36)O;VP``````$-R;D-B;V]L``````!#;G1#8F]O;```````3&)L<V)O;VP`
M`````$YG='9B;V]L``````!%;6Q$8F]O;```````26YT<F)O;VP``````$)C
M:V=/8FIC`````0```````%)'0D,````#`````%)D("!D;W5B0&_@````````
M````1W)N(&1O=6)`;^````````````!";"`@9&]U8D!OX````````````$)R
M9%15;G1&(U)L=````````````````$)L9"!5;G1&(U)L=```````````````
M`%)S;'15;G1&(U!X;$!G;-T@````````"G9E8W1O<D1A=&%B;V]L`0````!0
M9U!S96YU;0````!09U!S`````%!G4$,`````3&5F=%5N=$8C4FQT````````
M````````5&]P(%5N=$8C4FQT````````````````4V-L(%5N=$8C4')C0%D`
M```````````08W)O<%=H96Y0<FEN=&EN9V)O;VP`````#F-R;W!296-T0F]T
M=&]M;&]N9P`````````,8W)O<%)E8W1,969T;&]N9P`````````-8W)O<%)E
M8W12:6=H=&QO;F<`````````"V-R;W!296-T5&]P;&]N9P``````.$))30/M
M```````0`\`````!``(#P`````$``CA"24T$)@``````#@`````````````_
M@```.$))300-```````$````>#A"24T$&0``````!````!XX0DE-`_,`````
M``D```````````$`.$))32<0```````*``$``````````CA"24T#]```````
M$@`U`````0`M````!@```````3A"24T#]P``````'```________________
M_____________P/H```X0DE-!`@``````!`````!```"0````D``````.$))
M300>```````$`````#A"24T$&@`````#-0````8``````````````90```)`
M``````````$``````````````````````````0`````````````"0````90`
M`````````````````````0`````````````````````````0`````0``````
M`&YU;&P````"````!F)O=6YD<T]B:F,````!````````4F-T,0````0`````
M5&]P(&QO;F<``````````$QE9G1L;VYG``````````!"=&]M;&]N9P```90`
M````4F=H=&QO;F<```)`````!G-L:6-E<U9L3',````!3V)J8P````$`````
M``5S;&EC90```!(````'<VQI8V5)1&QO;F<`````````!V=R;W5P241L;VYG
M``````````9O<FEG:6YE;G5M````#$53;&EC94]R:6=I;@````UA=71O1V5N
M97)A=&5D`````%1Y<&5E;G5M````"D53;&EC951Y<&4`````26UG(`````9B
M;W5N9'-/8FIC`````0```````%)C=#$````$`````%1O<"!L;VYG````````
M``!,969T;&]N9P``````````0G1O;6QO;F<```&4`````%)G:'1L;VYG```"
M0`````-U<FQ415A4`````0```````&YU;&Q415A4`````0```````$US9V54
M15A4`````0``````!F%L=%1A9U1%6%0````!```````.8V5L;%1E>'1)<TA4
M34QB;V]L`0````AC96QL5&5X=%1%6%0````!```````):&]R>D%L:6=N96YU
M;0````]%4VQI8V5(;W)Z06QI9VX````'9&5F875L=`````EV97)T06QI9VYE
M;G5M````#T53;&EC959E<G1!;&EG;@````=D969A=6QT````"V)G0V]L;W)4
M>7!E96YU;0```!%%4VQI8V5"1T-O;&]R5'EP90````!.;VYE````"71O<$]U
M='-E=&QO;F<`````````"FQE9G1/=71S971L;VYG``````````QB;W1T;VU/
M=71S971L;VYG``````````MR:6=H=$]U='-E=&QO;F<``````#A"24T$*```
M````#`````(_\````````#A"24T$$0```````0$`.$))3004```````$````
M"CA"24T$#``````.@0````$```"@````<````>```-(````.90`8``'_V/_M
M``Q!9&]B95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+
M"@L1%0\,#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`<`"@`P$B``(1`0,1
M`?_=``0`"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!
M`0$!`0$``````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1
M`P0A$C$%05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R
M@R9$DU1D1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&
MEJ:VQM;F]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2
M!$%187$B$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+2
M1)-4HQ=D154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6
MYO8G-T=79W>'EZ>WQ__:``P#`0`"$0,1`#\`]3:UK&AC`&M:`&M`@`#@`*2S
MK?K#T:FQU5F4T/88<(<>T\M;M[J/_.7H?_<IO^:[_P`BDITTTK-_YR]#_P"Y
M3?\`-=_Y%9O5NI=+SK<:RCJ+:3CNW.D/>Q[2ZMSZ;L5U?IWM?Z?LLWTY&-;Z
M=E%W\ZDIZ18W4^E=2R>KXV;C7-912UC;*7/>TO+;F7$_HOH[&-_]"?Z'=^KW
MV6+&QL_(IKQ:W=;98RD5MO8X6%UC&LKKL_6G5&UMWJMNR_6<RS[3ZOV6STZV
M>LGHNP_^;S^DY75*CDUD.PLNMEGZ-]9;?AO>QX.[[/D,]_N_6*OI_P`XDINY
M/1OK1DX?H6Y]3WOJVV$RW;:66U664645U/978ZUK_H^OC[/T>2C?LSZR@V-9
MG,KK=9NK:S0ACK+;+&/<^FQWJ^FZG;=_QM?I_P"&6;G9561</2ZO55178VVF
ML5N&QS6-&X0SW.;D_:+_`'_SWVCT;/YA0'4,PO;8_KK`1!+&M<6_SEUA_P"T
M[=_Z-^-5_P!8_P"%24[>'A_6%M]#LS,8^MKGG(%4`/T9]GV5OI=Z;?YZF^GU
M?TGZ++KNJ_HZ;$Z9U<=4IS,_*9D545W-8QNYGZ2PU;;?3:/3=^CKL9ML_H^_
M^<L]19N/U2"[[5UBN^NRBRM]98X#U7']'?5LJK=4QS/YRFS[3L_P/\W^EI=/
ML?T\4MIZW7Z8%`R*HL+?T->+18ZKU*K'?K/V?(]3^:_G_P#3;[;$IU<3I'UE
MP\'"QZ<NH64TM9E/<YS_`%+&MJ;ZDOI^BW8^G]_T_P!+:^RU2R,+ZTU,K;3E
M^N'.K8\#:UX!;4VRU]SZ_:VJ]N5=OKIWVU754^C7Z"RJ\O)I:'-ZXQUFUKK"
M&$&RP,PV6/>YU&UV[T,[T]WZ-GVJG_0(]74*W-Z5=E9];\K`MNNO#W/<'^I5
M?174VVO'I]E;[V?SE'\W7^?:DIT78/UM%5;6Y]+K@ZPVVD;6D$;*/2H%-GI_
MOVM?==^D9^C?^D_1S;TOK#CA/RLIN0,:W(-])):VVJ[>S&+WUL9NNQ*W;/=7
MZ?\`.?X7TEBY&?G7U9##URJOU2_TV,%@#6N#=K6W-J;D5O997_.>I9^CONK]
M'^:L4\Z[&OZO;U'%ZLS%+O1-4-L<0ZFO,I<U]9;Z3J[GYM+G_P#A?_2>E94E
M.H>G_6CUCZ>955CMM#JJ@2Z*VN9MJ>Y]&YWZ%KMW_GS\];RY!_4+B+"SK[6[
MJK&UL](G;:X6"A_J^GN<RC]4_P`'^E_6;/\`#?HX?;\AKW.KZVR7/;J[U#^C
M:<B*]AH<S>UEN-^D;_/OK_2)*>S27(XW4G5YE%UO6VOI:_=?46N(<"<O<QOZ
M%OYEV!L_<^R?\*_?M?\`.7H?_<MO^:[_`,@DIU$EF?\`.7H?_<IO^:[_`,BF
M/UFZ&!/VMO\`FO\`_()*?__0]4:UK&AK0&M:(#1H`!V"=)))2DDDDE*22224
MI))))2DDDDE*22224I))))2DDDDE*22224I))))3_]'U5))#OH9?7Z;YV[FO
MT\6.;:W_`*3$E,Y"=4J^DXE=C+&[M]9EKIU[G;_:W>Y%;/VVP28-;#$F)W6"
M824V$DDDE*22224I))))2DDDDE*22224I))))2DDDDE*22224__2]50LB]N/
M4;7-+@"UL-U/N<VO_OR*DDIHU=4;8]C?0M8'.V;W-@`ZAO\`*]^W_MO](C-,
MY]@@Z5,UC3Z5G"L*NW^G/_XIG_56)*;"S;?K#TFB[T,FU^-9V]:JRMI_J76U
MMIL_L6+23$`@@B0=""DI`,_&+0YI>YA$AXK>6D>3VLVIOVAA][(^((_ZH(#^
MA=*+B^N@8SS,V8SG8[C/[S\5U+G_`-M-^SNHT_T7J5A`XKRJV7-`_K5_9<G_
M`#\E)3<IR*+Y]&QMFWZ6T@Q_615CMR"[,;A=7J95DOD8>727-9;IO?559I;C
MY3-KGNQ'6/\`5I_3T67>GD_9KVW-IU8X958_-?#+!_5L;^BL_MLK_P".24VD
MD"K,IL?Z9)KN[U6#:_Y?Z3^O7O8C2DI=)579S7DLQ6G(>-"6F*P?Y=_T/[-?
MJ6?\&F^RW7:Y=FYI_P`#7+6?VW?SMO\`Y[_X))3-V;0'NK9NNL;HYM0+H/[K
MW#]'6[^N]-ZV8_Z&.&>=KP#_`)M/K?\`5H[*V5L#*VAC&Z!K1`'P`4DE-;T<
MQ_\`.9`8/"I@'_2N-W_4IV8=;7M>YS['MU!>]QU_J3Z?_02RL_!PFAV9D58X
M=]$VO:R?ZN\C<@T]7IR+F5XU&1:QQ]U_I.KJ:(^GZF3Z'JM_\+^LDIO))))*
M?__3]53%.DDIH5X6<QP<_,=9#@X-+0!M_.8[;&[V_P"O\VC-G[?9)T])D"/Y
M5B:KJ>!<6BJYKR\PV).O"DT@Y]@G45,D?VK$E-A))))2DDDDE(,S#QLW'?C9
M+/4ILC<V2""#O8]CV;7UVUO;ZE5M;O5JM_25^]9^+FY73\EG3>J/-K;#MPNH
M$`"T_FXV5MVLJSVM_P"LYO\`.T>G9ZF-5KH.7B8V9CV8V56+:+1M>QW!'_?7
M-_,=^8DIE;33>S9:P6,\'"=?%!_9]1]MC[+:AQ38\N9_:_.M_P"ONM5'&R\C
MIN37T[J3S95:[9@Y[OS_`-S$S'?F9O\`HK?H9W_AC]$M>0DI0:T`-```T`'`
M"'D9./BT/R,FUE%%0W66V.#6M'B][O:U4LOJX;D.PL"HYV<V!94T[:ZI&YKL
M[*VO9C>UV[TMMN78S])1BVIL?HY?>S-ZK8,W+K.ZEL;:*3_W4QI=^E_[MWNM
MROYST[:J7^@DIC7F]5Z@=^#4W$Q/S<C,8[U'_P`JK`#J+:ZO^$RK:;?^ZOI_
MI;)_LBVW^FYV3D`\L8\8[!_5^QBF_P#[=R+5I))*:N)TOIV&=V+C5U6'Z5C6
MC>?Z]O\`./\`[;E:2224I))))3__U/54R=,DI&,7&:-K:F`2'0&CEOT7?V5!
MO]/?_P`4S_JK$)K^JBP!U=;JPX"1HXM)_=W;6^G^<IN;E-S'V5UL=6:VM#G/
M+3(+RX;16_\`>24VDD#?F<>E5_VX[_TBEZF7,>G5(Y'JN_\`2*2DZ2KFS-!`
M]&L@\GU#I_X"G+\P<U5?]N._](I*3I(&_,_T57_;CO\`TBF=9F@2*:W:@0+#
MW/.M/YJ2F67B8V9CV8V56+J+F[;*W"00LQG2NKEOV*[J#OV>P^RUDC,L8?\`
MM-?ES[/2^A]KI_7<AG^&HR*K,C*TM^8!)JJC_C'?^D4M^9_HJO\`MQW_`*12
M4K$PL7"H;CXE3::63#&"!).YSC^\][O<]_YZ.@%^:`3Z59/AZA_](I!^:0#Z
M58\O4/\`Z124G20-^9SZ57_;CO\`TBEOS/\`15_]N._](I*3I(`LS2)--8YT
M-A_](I;\S_15?]N._P#2*2DZ2!OS/]%5_P!N._\`2*G4ZYV[U6!A!TVNW`C_
M`#6)*?_5]525&WKG2*K'56YE3+&&'-+A(//\5'_G!T3_`+FT_P"<$E.@DL__
M`)P=$_[FT_YP3?\`.#HG_<VG_."2FSF8-.8&MNG:R8#8&KAMG?&]OM_<<GQL
M.G&GT@9<`"3J8$G_`+\LK*^L%/J_JF=@^E`_G7.W;N_T#MVI.Z]0!%>?ANU/
MN>\@P9CZ+=OL24[B%DXU>34:;)V$@D"-8,_G!RR/V_0'&,["<V7$%SR"-?8W
MVM35_6&LN9ZF7@AI/Z2+';@(_-]NW=N24Z%'2<7'O;?67[V!P$N)$/.Y\C^M
M_KL5U83.N4S#^IXFW6'`R9+(^CI]&[W_`-1(]?J$%N;@G03-AB?SB(:DIVK&
M"RMU9,!X+21!YT_.#FJG7T;"K>RQH?NK(<V7'2(/']AJKX_UAZ>=WVK,Q6ZC
M8*K"=(]V[>&_G(EOU@Z3M_0YN/O_`);M(_LI*=-,L1_7Z)!KSL(Z06N>0)GZ
M7#G?13.^L+(=LR\`_N[K'#]WP:[^4DIO?L;$,R7RXESB"!)<'-=[6M:S\_\`
M=5YK0UH:.`('?A8CNOT`@LS<(R1N:ZP@!L-W;8;NW>IZG]C8F?U^H"P,SL(Z
MO])SGD$#7TM[0UW\GU$E.ZJC^FX]F0<AQ=ZA+7:0![',L9PWW>ZK\]9[NO8\
MN+,[$U(+07G31N]FX-]WOW?V$J_K#3O;ZN7@AD^\MM<3'\C<U)3K8]#,>EE#
M"2RL;6SS`15G_P#.#HG_`'-I_P`X)O\`G#T,:_;J?\X)*?_9`#A"24T$(0``
M````50````$!````#P!!`&0`;P!B`&4`(`!0`&@`;P!T`&\`<P!H`&\`<```
M`!,`00!D`&\`8@!E`"``4`!H`&\`=`!O`',`:`!O`'``(`!#`%,`-@````$`
M.$))300B``````%&34T`*@````@`"`$2``,````!``$```$:``4````!````
M;@$;``4````!````=@$H``,````!``(```$Q``(````>````?@$R``(````4
M````G`$[``(````)````L(=I``0````!````O````.@`')AD```G$``<F&0`
M`"<0061O8F4@4&AO=&]S:&]P($-3-B`H5VEN9&]W<RD`,C`Q-3HP-#HQ."`Q
M-SHS,#HP.0!R<C(Q,C(X-@```````Z`!``,````!__\``*`"``0````!```"
M0*`#``0````!```!E``````````&`0,``P````$`!@```1H`!0````$```$V
M`1L`!0````$```$^`2@``P````$``@```@$`!`````$```%&`@(`!`````$`
M`````````````$@````!````2`````$X0DE-`_T```````@``````````/_A
M`4A-30`J````"``(`1(``P````$``````1H`!0````$```!N`1L`!0````$`
M``!V`2@``P````$``@```3$``@```!X```!^`3(``@```!0```"<`3L``@``
M``D```"PAVD`!`````$```"\````Z````\`````!```#P`````%!9&]B92!0
M:&]T;W-H;W`@0U,V("A7:6YD;W=S*0`R,#$U.C`T.C$X(#$W.C,P.C`Y`')R
M,C$R,C@V```````#H`$``P````'__P``H`(`!`````$```)`H`,`!`````$`
M``&4``````````8!`P`#`````0`&```!&@`%`````0```38!&P`%`````0``
M`3X!*``#`````0`"```"`0`$`````0```48"`@`$`````0`````````````#
MP`````$```/``````?_A.D!H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O
M`#P_>'!A8VME="!B96=I;CTB[[N_(B!I9#TB5S5-,$UP0V5H:4AZ<F53>DY4
M8WIK8SED(C\^/'@Z>&UP;65T82!X;6QN<SIX/2)A9&]B93IN<SIM971A+R(@
M>#IX;7!T:STB061O8F4@6$U0($-O<F4@-2XS+6,P,3$@-C8N,30U-C8Q+"`R
M,#$R+S`R+S`V+3$T.C4V.C(W("`@("`@("`B/@H@("`\<F1F.E)$1B!X;6QN
M<SIR9&8](FAT='`Z+R]W=W<N=S,N;W)G+S$Y.3DO,#(O,C(M<F1F+7-Y;G1A
M>"UN<R,B/@H@("`@("`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TB(@H@
M("`@("`@("`@("!X;6QN<SIX;7`](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P
M+S$N,"\B/@H@("`@("`@("`\>&UP.D-R96%T;W)4;V]L/E!38W)I<'0U+F1L
M;"!697)S:6]N(#4N,BXR/"]X;7`Z0W)E871O<E1O;VP^"B`@("`@("`@(#QX
M;7`Z36]D:69Y1&%T93XR,#$U+3`T+3$X5#$W.C,P.C`Y*S`U.C,P/"]X;7`Z
M36]D:69Y1&%T93X*("`@("`@("`@/'AM<#I#<F5A=&5$871E/C(P,34M,#0M
M,3A4,34Z,3$K,#4Z,S`\+WAM<#I#<F5A=&5$871E/@H@("`@("`@("`\>&UP
M.DUE=&%D871A1&%T93XR,#$U+3`T+3$X5#$W.C,P.C`Y*S`U.C,P/"]X;7`Z
M365T861A=&%$871E/@H@("`@("`\+W)D9CI$97-C<FEP=&EO;CX*("`@("`@
M/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@("`@("`@("`@>&UL
M;G,Z<&1F/2)H='1P.B\O;G,N861O8F4N8V]M+W!D9B\Q+C,O(CX*("`@("`@
M("`@/'!D9CI0<F]D=6-E<CY!8W)O8F%T($1I<W1I;&QE<B`Q,"XQ+CD@*%=I
M;F1O=W,I/"]P9&8Z4')O9'5C97(^"B`@("`@(#PO<F1F.D1E<V-R:7!T:6]N
M/@H@("`@("`\<F1F.D1E<V-R:7!T:6]N(')D9CIA8F]U=#TB(@H@("`@("`@
M("`@("!X;6QN<SID8STB:'1T<#HO+W!U<FPN;W)G+V1C+V5L96UE;G1S+S$N
M,2\B/@H@("`@("`@("`\9&,Z=&ET;&4^"B`@("`@("`@("`@(#QR9&8Z06QT
M/@H@("`@("`@("`@("`@("`\<F1F.FQI('AM;#IL86YG/2)X+61E9F%U;'0B
M/DUI8W)O<V]F="!7;W)D("T@,C`Q-"!$<F%F="`R,"U&(%=,4DLM0U-432`T
M(#$W(#$U($-,14%.+F1O8W@\+W)D9CIL:3X*("`@("`@("`@("`@/"]R9&8Z
M06QT/@H@("`@("`@("`\+V1C.G1I=&QE/@H@("`@("`@("`\9&,Z8W)E871O
M<CX*("`@("`@("`@("`@/')D9CI397$^"B`@("`@("`@("`@("`@(#QR9&8Z
M;&D^<G(R,3(R.#8\+W)D9CIL:3X*("`@("`@("`@("`@/"]R9&8Z4V5Q/@H@
M("`@("`@("`\+V1C.F-R96%T;W(^"B`@("`@("`@(#QD8SIF;W)M870^:6UA
M9V4O97!S9CPO9&,Z9F]R;6%T/@H@("`@("`\+W)D9CI$97-C<FEP=&EO;CX*
M("`@("`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@("`@("`@
M("`@>&UL;G,Z>&UP34T](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]M
M;2\B"B`@("`@("`@("`@('AM;&YS.G-T179T/2)H='1P.B\O;G,N861O8F4N
M8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V5%=F5N=",B/@H@("`@("`@("`\
M>&UP34TZ2&ES=&]R>3X*("`@("`@("`@("`@/')D9CI397$^"B`@("`@("`@
M("`@("`@(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@("`@
M("`@("`@("`@("`@("`\<W1%=G0Z86-T:6]N/F1E<FEV960\+W-T179T.F%C
M=&EO;CX*("`@("`@("`@("`@("`@("`@/'-T179T.G!A<F%M971E<G,^8V]N
M=F5R=&5D(&9R;VT@87!P;&EC871I;VXO=FYD+F%D;V)E+G!H;W1O<VAO<"!T
M;R!I;6%G92]E<'-F/"]S=$5V=#IP87)A;65T97)S/@H@("`@("`@("`@("`@
M("`\+W)D9CIL:3X*("`@("`@("`@("`@("`@/')D9CIL:2!R9&8Z<&%R<V54
M>7!E/2)297-O=7)C92(^"B`@("`@("`@("`@("`@("`@(#QS=$5V=#IA8W1I
M;VX^<V%V960\+W-T179T.F%C=&EO;CX*("`@("`@("`@("`@("`@("`@/'-T
M179T.FEN<W1A;F-E240^>&UP+FEI9#HR1#0T030P-4,R135%-#$Q.3,W14(V
M,$%#-$%!-3=%.3PO<W1%=G0Z:6YS=&%N8V5)1#X*("`@("`@("`@("`@("`@
M("`@/'-T179T.G=H96X^,C`Q-2TP-"TQ.%0Q-SHS,#HP.2LP-3HS,#PO<W1%
M=G0Z=VAE;CX*("`@("`@("`@("`@("`@("`@/'-T179T.G-O9G1W87)E06=E
M;G0^061O8F4@4&AO=&]S:&]P($-3-B`H5VEN9&]W<RD\+W-T179T.G-O9G1W
M87)E06=E;G0^"B`@("`@("`@("`@("`@("`@(#QS=$5V=#IC:&%N9V5D/B\\
M+W-T179T.F-H86YG960^"B`@("`@("`@("`@("`@(#PO<F1F.FQI/@H@("`@
M("`@("`@("`\+W)D9CI397$^"B`@("`@("`@(#PO>&UP34TZ2&ES=&]R>3X*
M("`@("`@("`@/'AM<$U-.D1E<FEV961&<F]M(')D9CIP87)S951Y<&4](E)E
M<V]U<F-E(B\^"B`@("`@("`@(#QX;7!-33I$;V-U;65N=$E$/GAM<"YD:60Z
M,D0T-$$T,#5#,D4U130Q,3DS-T5"-C!!0S1!034W13D\+WAM<$U-.D1O8W5M
M96YT240^"B`@("`@("`@(#QX;7!-33I);G-T86YC94E$/GAM<"YI:60Z,D0T
M-$$T,#5#,D4U130Q,3DS-T5"-C!!0S1!034W13D\+WAM<$U-.DEN<W1A;F-E
M240^"B`@("`@("`@(#QX;7!-33I/<FEG:6YA;$1O8W5M96YT240^>&UP+F1I
M9#HR1#0T030P-4,R135%-#$Q.3,W14(V,$%#-$%!-3=%.3PO>&UP34TZ3W)I
M9VEN86Q$;V-U;65N=$E$/@H@("`@("`\+W)D9CI$97-C<FEP=&EO;CX*("`@
M("`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@("`@("`@("`@
M>&UL;G,Z<&AO=&]S:&]P/2)H='1P.B\O;G,N861O8F4N8V]M+W!H;W1O<VAO
M<"\Q+C`O(CX*("`@("`@("`@/'!H;W1O<VAO<#I#;VQO<DUO9&4^,3PO<&AO
M=&]S:&]P.D-O;&]R36]D93X*("`@("`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`@
M(#PO<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"CP_>'!A8VME="!E;F0](G<B/S[_VP!#``$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0'_VP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`#/`2<#
M`1$``A$!`Q$!_\0`'@`!```&`P$```````````````$"!08'"`,$"0K_Q`!0
M$``!`P,#`@,$!`@+!`@'```!`@,$``4&!P@1$B$)$S$4(D%1%18R81<C5W&1
MEI?3&20F,T)66(&AU-<W4G:Q&"4G<J:RP?`T-38X8J31_\0`%`$!````````
M`````````````/_$`!@1`0`#`0````````````````!!H?#A_]H`#`,!``(1
M`Q$`/P#[^*!0*!0*!0*!00(!'?L/GSQ_C0><?BS95D>%>'MN8RW$<MON$9/8
ML$5.LF3X[>9>/WBU3A<H+:'85QM[C4ME?2M23Y2^M25%(Y/:@\I-`M\>I.EL
MC=IK-DF39C(M6D6W;;R[;]LN?WZ;>\DNV0WBU6>/<]P-ONTY^8TS@%_7<BY,
M19GW5!V.^JY-PW^*#;G+O$?URTWN>FL75+3.QXO@F?W-FU,:OXDXC4C$F?K%
M<K:QA]RR:UX]=G[CBMAR&),>9BWE3\Q#-R2B/*8;Y/2'GMIYNTSW)M5-,Y]N
MRO*[!886)^)`QDF%-ZE9+<K%F,[3.$S(LM[G/W6Z.O0GHC:U(L_E+#>-ATN6
MH(*""&XFVCQ'=5<XQS%,.T^TOAW*VZ<Z&Z>YKF:\JS#^4UZLF3X=>+Q(S*Q2
M[W<8]RR2V8_-M;<&8J$Q<9EY5*4\5LK3R`LO'O&>U4LV"8IG^?Z;X5=;7J+M
MRGZU8Q#P^3=!-L4JWZA(P=Q&2(E2'BY:41GV[O.<8##T`,J8>7RYRD-G,@WZ
M[BL>U(T^T;M.'Z39_G6HN!9#JW@URQ_)F[9C>>XC:[K8HD3%XUPO=RC6NR98
MW;;K*N$OB[7$N(AMI:AA3J@`SUNJWEY;HAE>EV`XMBT)V^YYI3J[JS=+SD+K
MLBQ6J+I-BS&12\7C28;C49^^7^0\Y;H:UR`PRW'7(;:>Y2"&B^Q7674#>+OB
MU5U2R;,LHQW$L<THT7SC$-*&;A/MJ+`YF-C0Y+M5PA^V^PS8?FN/29;KL#VF
M:XIA25(2"*"WM&\VS?+][&__``K+]1LP;TEP7<SIZY'OKNJ]_MB=+&H6G[U\
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MR1<\[R1BTW+$,LQ&[6BVV6U9;:DS_IEQ64QYTF<U(;M$*)&?;CP@ZXMTJ`8D
MLGBX:OY=.Q;$L:Q#`&LBR/<SF>@L:\7XW")"D6JUZ>'-[#EJ;0S-,J.I3R5V
M^5"=>_'H+,II80LI2VN.EYZR[\]?M0/!ZE[N])\;;L>JV1QX=GO:,8,FY*Q*
MTM9]*PK-LNLS7+LA,FU6V%,N\2,2IV"E;;BEDM@D-J,PO6`Z-:&X1N5L.K'7
M=M/]%&I\*/E6H%P.'YZ+E9+>M=[S.#'ER$W*["2^Y-1=RRJ6)2A#*E)]P!I%
M:_%SU;R:=C^*8SBNG;F07K=0UM^CWVY*N,>U2K/=]+I6HUHRA=K3-7+@.-B,
MN`N*I]YQV.43'&F4JZ*#U(V'[D;YNMVYXAK#D]JMECR.X7;,,>O=OLK[KUG7
M<<3R6YX^]-MBWEK>]DEI@(D):=42V73Z#B@W-H%`H%`H%`H%`H%`H%`H%!(Y
MST*Z2H*]`4\<\DCTY[4&.<LU-P/"$K5E.;6#'?+<C!\7>ZQ8(C*EN)1&3*+Z
ME&.9CBT-Q_-#27NL(:[D4%\19S$M8,>2T^@MMK(96ASH#K2'FU*4E1/2ZA84
MV2D=22"#0=UWI#:BH@)`Y)/H`/4GTX_/R./6@Q5=8&E&N^$W.S7:+AFJNGET
M=EVR\VN:B!DF.7%ZWR/*>@36'O:8+[D66T426'PHMNH`4`4]@QL_A>TY_,KG
MCDS&-&EY_`TW;P^[V)ZW8Y]9XVE+0!18)\0H,U6'L#NW$=0;<TH<-I2J@[N*
M:`;:W\>LBL+TUT]=Q6#&0Q9&K1:XALQAQI2Y3,9MM"E1W(T69U/MMN-K;9>]
M]I(6!P'0PC1/:EDC<BYX3IEHK=V+).R_')$[',<QZ4BV7"_E+.?6A]V+&(C2
MKPZE#-]844N3>.F6E?/!"[XVVO0*)=K%>H>CVG\*ZXOCB\-QZ=#QJUQ7[7B;
MC;C9Q^(MF.@M6?RW76TV](]F"7%@-\*H(1]LVWJWQFXL'173*'&8QN=A[+$?
M#[*AMG%+I(,FXXZRTW#2&K-.DJ+\FWMA,5U\^:MI2^]!36]K6WEJV89:8^C.
MGK,#3>8]=,`B''(9;Q*>^L../6990%0DNK"5.,L*#:RE)*20*"3,KKMNS.\?
M4[/KMIA?L@QCR5.6'(9UG=N>/)O[0CH#C,MSVFW,WMMLQTMNEEJ:R`P`X.$T
M%_8OI5IEB=]N&98C@V(6')+Y;[=:KGD5BL=OM]SNEGMK:6K9!F38S"'Y,&$R
MA"8;1=4TVVA'E`)H+"RG2';+B+MYS7*]/]+;!(RO,\=O=_R.[62RPG,BSEB4
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M\CIFNI<;0XEQY)<ZVTJ!Y`("D6O:QMGQJ7%>M6ANEULEQ[S]982H^+6D3$7U
M$`VM=X@`L>>F:+6?8E/-!*E,$M.GRTB@Y[?/VV::6V1H?;I.E>$V6W6V2Y.T
MPB*L=MM\2U7R2\N5(FXWY3;+%LN4B6[Y\QYEN*_(?6E3I654'=MVW+0#ZIW/
M#XNEV#3,,OMK%LF6-RSPYN/S;,\L2$6UJ(\F0P;0X5)>1$9Y@E0!0B@ZUHVH
M[9[+)C2+/H;IC!?A7:+D,61&Q.U(?C9!!MZ[3$O498B=35TCVM:K>W/;4F0B
M$?9@ORB44&5\,P+"M-[$SC.`8K8,-QQB5*F-67&K?&M%M9E7"0N7.DM08++4
M=+\N4XY(D+2WUO/K4XLE2C071'D-ODEMU#@0XMI70ZAP(6CL4DM\CK[#J;6>
MI)[\`]J#N4"@4"@4"@4"@4"@4"@4'$_SY2P#TD@`*YZ>"H@<@\'N.>W8@G@'
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M%YA/7D(R_P"D[0+O8+K%6$2,:CL7%F#=(BUN%M1">0V#WY:-:J81N]VN;M]`
M,4N&27C,7KGM:USM%K0?97M-,\4F3;\YN[X27(SF(RX\GB0$]32%,(2XD`4%
M*W*ZG[NM)=5\QP/2&#=H.*8+B.@Z=$K-:<;B7"VZDW;(\J%IU21D$EZ*\Z6X
MUL;<5T-OLNPDMJGI4%KY4'G+HQJ=NGVZ6&_*Q`YII]C&<[D]\<C+8,7"47V*
M[DC%CCW?2R9$<N%LF7)`?O`>1:4,_P#5MV0VI$CS%%*:"],XW0>(?<<?MEYM
M.H6JD&X63:?MNU!3:+?@N.(8OVL^7:DHL6>1[G_)5,U+K.,.*GRL>:>3$MZ!
MYCS/2A0(98B[I-\%F9?Q7(,DS16G36Z[*M.KGK+>L38CWJP8-<L+5<L-ES4V
MNP)8D61C+GQ',V+$2MYIEF$X\&UJ%!M#M[UIW>(WEVS3+5>[)U:TJO$/)X]O
MU%P&&_BT3%;S8+);4.XWJ?A5VM*)(B3'"[<\8R^R3V8T^>])B2&EMI:2`TOW
M%8+?;[NX\6Z$C!,JR7\)6V+1S%]-HUILMPDN99GT-Q"+=#QA3#*4JNEAN*HD
MF7,BR`[##2YBB/*YH+6@Z\>(OM^9QS1/*\WS(Y;BD[97:;;!8P>WW^#,QC+Y
M46%J_'%\^@)+\EBW14"!>KE<)C\ZTOH?E,+3VY#*.JFH>[[(K#N*SJ;J%GF0
MPM/]\F%:7Z;::W/3;#[SBBM*)N98Q-&7(C2\2<N-U596$7-,#)FG2_`8;7,#
M@>;2I`=6Z;E]]./9AD&2*U(S=F+"WAZPZ40K+?L$LDG#+;HA;M//IK&\FD,V
MZP0[E+MUEO@4J%D2Y2URW![.\)"$EL!M?X56X[4+<+=LWO>=[C;'JC!^IV*/
MVO3_`.C6[1D-ER-E^XLYEETB`Y;(,F+9KO+$5BUP/:Y3<1M!(88\SDA8/AS9
MFUH1,\0J_P"?V+)8%PRC>KE\C"K,W9+G,O65V^YQXK-E>Q^"(O5)BR7O-*76
MU>R(".I:T#@D-<[1O1WHY?J-E&.8+E648O8,ET^SEK$LAUHTUFVIB)J98M1E
M0K4Q?HML@R6L44NS+%B2Y&DW&'[`8U]?AM.>8Y09.VQ:LZ^ZB;[MN&6ZRVG5
M[3VT7/0?4_%G<1NSIR'!)>?63+F(4IRVWV%:(4.YVU^$EZX6N[341YX@J2V5
MNH/<.YN*QAUWQ.MW-XOF"Y)D.'9-X8\+`+>FWV6XW&'E>;2\NN+]OQ"S+9Z6
M962DN1I#+#+R)0:`/4D()(8HTXSCQ)-O.A&GNEU\BY&SFNG6WO1^Y:<6F#C[
M=\<U`SO(-1/8LEQ+*IC\:<_YN-85(A6N<PR['3`Z'9?=]OS:#.&3:E>)SBVO
MUWP6%+RW(\!Q?<+C/M.1HL&*M6Z_Z6ZWX\A%LL$-X6%3Z6-)LAASWOI!M8F+
MB.,INTA:E(%!8MVU[WSV3<%<[,SJ)J;D6,63>Y;-%F;7*PBP-6*?HU?\$G2;
MA?P[;,;9GR%1+VS',"[^TJ8B2^$.+*%D*#"NF.NV[#1[1/0)JR9]J\AR[9QO
M!LVK;M_Q&/>;BG,[<<EN6F<&8_<\=EW)F<F8Q$3;`RL6F<P4-%1Z6>`V,T4U
M8WL:W:A[?<4RW6?5'!K+=ME$35G-I5EP3'K8JZ:R6J^W%2[=<9-WQI]<*5.M
MK4<3[%&4PA;*/,90DN<@*OLAU\WL9%N#VO6W5C,-0,RQ'5+3/7Y[5JW9+AMC
MM=FQ7(\)SF=#T^EQI5EL5K%FE7>QQV>(DUQ;LUMSS4A74#0?0,D^\$\\CI40
M?G[Y^7;TXYXH.6@4"@4"@\U,CM/BI*R*^+Q'+MHK>,.WNX*QIF[V#/UWEG'"
MLFUMW9QM\17;@VVH"6N*E'6H<C@#@!2OH;Q=OZY[,A]QQS4/G^_B0?\`G0/H
M;Q=OZZ;,?U;U$_S%`^AO%V_KILQ_5O43_,4#Z&\7;^NFS']6]1/\Q0/H;Q=O
MCF>S$C_AO43]_0<)QWQ;"YYIRO967>W#GU7U`\P=(('OETJ^/]P[#M00^KGB
MV=2U?6K97U.*ZW%?5?/^IQ7Q4L^9RM1';E7)]/E017COBW++:E99LK463U-%
M>+Z@J+2N..6R7OQ9X`'*>#Q0!COBVIZ2G*]E:2@DH(Q?4`=!5]HIX=!23\>"
M.?CS0<AL7BY$<?7#9?P221]6M0^ZB>2K^?\`4_/UH(&P^+B5!1R_9<5)XZ%'
M&=0BI(`XX22]R/NXX_QH.%6,^+2M*4JRC90I*%^8A*L5S]24N=_?2DN<!?S4
M!U'YT$1C?BU@<#*=E/''''U6U`XX!)`X\WCL3R/OY/Q[!!6,^+4H.!64;*5I
M=*5.I5BN?J#BD<>6IP%TA:D$`I4H$@CMQ03(QSQ;&W%NMY7LJ0\O[;J,6U`2
MXL_-:TNA2NW'JH^GR[4$?J[XMP7Y@RS96'`>0L8OJ#U@GU/5YW5W_/\`GY]:
M"56-^+6M8<7E.RE;B0`%JQ;/U+"0>0D*+O4`"20`>`3R.*"(QSQ;`.D95LI"
M?=)2,6U`"24<])(\[CE/4>/ER>..304F_P"!>*MDEENM@OU\V47.SWJ#)MUS
M@+QG4!M,N'+:6P^R7//!1UH60%<DI/<=^*"RL"V_>)#ILXP_A+^R"URX5EAX
M_%NB,:U%DW!NSP^4HM*9,E\O-1^H^>ZE"O+><;25`J]X!DKZM>+7R%?6G93U
MI6%I6<6U`*DK`XZ@KS>0KCMU`\@=AVH)3C/BU*^UE&R@\J*^^*9^??5]I1!=
M^TK^D?57Q)`XH.08[XMP4VM.6;*TJ9"@TH8MJ`%-A?V@VKSN4!7;JZ.GJX'-
M`..^+8I?F*RO96ISJ"O,.+Z@=?4./>Z_-ZNKY*YY'WT$QL'BWDA1RW9:5))4
ME1QG4(D*/J>?.Y![#GCCGCD_#@'T!XN!/4<NV7%73TA7U9U#ZN.KJX)\_DCG
MOQZ<]QP>]!*<=\6TJZSE>RLJZNOJ.+Z@E77QP%\^=]H?[PX/P)-!Q_5CQ:2D
MH5E&RA2%.*=*#BF?])=7]MQ0\WA2U_TUGWU<GE5!.C'/%M04J1E>RM"D)"$J
M3BVH"5)2!T]*2'>0GCD=(X`!XXX[4$4X[XMJ%)4C*]E:%)/(*<7U`202#R04
MN@@GGU!!^9/-!S?0WBZ_URV7@_`C&]1.1_\`L4#Z&\7;^NFS']6]1/\`,4#Z
M&\7;^NFS']6]1/\`,4#Z&\7;^NFS']6]1/\`,4#Z&\7;^NFS']6]1/\`,4%<
MQFT>*@B_6]699?M*>QD*E?2C=@Q_.V[LI)@RA"]D7+D>0.+C[&I_JY)BI>">
M%$4'I$$(3QPD#CDC@<?:]?T_&@FH%`H%`H%`H%`H%`H%`H%`H%`H%!`@$<$`
M@_`]Q0`E*>R0!Z#L..P]/T4$:!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0
M*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0
M*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0
M*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0
M*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!02.'I0H\]/`]>0./[SV'/IR>P^-!
MYLP-0=Q:\7TP=BR+],R:ZZB:RVF_1[G;8\4+M%O^E1B"+@6XW1&@QBB*NWRT
M("YJDLMJ*PXJ@E1?]T45V+DMPFY%(Q&%>XUELV/06(K>69#$E,1_;\ARE4B$
M6+;:K?<DRF6O9REY31:!'?L&_P")=[<QP2H,>,J]JM[;K42XR7O9S+\E*BS.
MDQFG%M`GD*6PRH]9`">#V"V=*,WN&?8C`R&XV]BV7!<Z[6V?;X,I<J(P_;9K
MT-;B7I+3+ZPI37*4^6DIZN".`3092H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H
M%`H%`H%`H%`H%`H%`(Y['N#V(/QH.,M-*YZFT*YZ2>4)//3W3SR/A\/E03%"
M">2E)/''<#TYYX_300<'XMS_`+BO_*:#`>W``:;-\#C^5>8'^\Y%.Y/]]!G^
M@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@D<_FW/\`
MN*_\IH,![<3_`-F[?_%>8#_Q%/H,_P!`H%`H%`H%`H%`H%`H%`H%`H%`H%`H
M(*]/4CT[C\__`"^?_,4'0ES&8;9=ER(\9I)_G7I+;"`!VY4MY24#[^3R?2@Q
M-DFN^E&,.^RW+4#'4RP>51(4PW2:I?/`:1&MWM/4Z5<`-]25*/;@>E!:9W!O
MW<!&"Z5ZG9@75=+4]RQ?5FTJ5Z!P3;X[%!C^BBM"#R#[H5Z4'`;MNER$$Q<<
MTYT]B]QYEXNTS);HE)^RYY$%"8?6D=U-J>X401U<'L%_:?XEGMDN,VXYMJ7.
MS1V:V@,0&K1;K)981">5>QQ(I>D+`Y/XR0\E9XYZ3SQ09>H%`H%`H%!QNGI;
M4?>[`'W!R?4?#@]O][M]GDT'EQ(N>\Z7A=D<QAG*#EB;YFC0^LUNCQT",UF\
MIIMZXEI'E_1HQ$MKQ-127)+J07@MQ720NEUG=+%>CY,Y)RV\8Y'OZ+=CN(,-
M"/D<ZS3&&!+ON9N(C\QX\6XHDKBQFDM33&4UPR6^N@WZ+U]<QA#\1F*W?E6]
M"T1;FN2F+[86@HL27&F3)2`KD*4AE2BH$=/!H,,[7_I,Z4P579N"W=',DRUV
MX(MRWUPVY"LAG%UIDRD-N@)/JGH''!`'J2&QU!UY0>,=[V?I\_RU%GK4I*"X
M!R@+4A*UALJX"RE)4$\\`F@\\-:-?]\^E<J5(Q7:%9=9<;CK<>-TPK4J!$NJ
MX*"2$1\=NK;,^7/4.`EAK@*//3W%!@2S^*VQ'E0[?JOI->]`K\\TI,BRZT6W
M)\(1$DH4>IMN_P`^TN6&XM*`*VW8TD>[P3QZ4&WF%[H<NU#AL3]/<,T]U&A2
MF$R(\O!];<"O`6%`*\IR&;@B<TYT\GH6RE8/VDCO09"&L6JS709NW+.D)3VD
M*A9%BD\H`[%;++<Y*Y">?LI3P2.3P0*"8ZYY4Q[TS0756,OOY:&8MIF!WY_S
M,\I0H>O!'YOG03JW"*9;4N?HWK=%*$E:U(P:1,9;0CE2UJ=C/N-A*4`J/;OQ
MP`#07G@6L6G^HBT-XQE$5^XI"E2\?N(<L^10^"0IN18IS;<]*VU`A1"%-<#E
M*B.]!ELD#CGXG@>O<^OP_-\:"-`H%`H%`H%!*OT'RY'/KV^_MQ_SXH+/RW-\
M5PBVKNV69#:L;@`@"3=YB(J70GCJ$9GGSGW3Z)::0I2B0`.5"@P0UK/J5GBB
MK1W3=R5CP<*6\ZU)D2<3L=S2L%(=L-K3'<O=Q82KE27GHL5E:0GH</*20J7U
M#W"9`GJR76.T8LP2"J#@>)M><D*[]`NU[>><44\\>8W$Y/J$@^H3M;:,&F2&
MW\QO&=:A2%\K?>RC+;BY$4YQV!MEM5;HGEJ/)2V8[J4^A/%!EC&--,`P\(1C
M.%XW8R@*`=M]FB,OJ"AP2Y*\KSW%*_I*6M2U_P!(^O(7T$I`X"4@`<````#Y
M=OA]U!-Q00``Y(`!/J0/7\_SH(T"@4"@4"@$<]CW![$'XT$H2D>B4CL!V`'8
M>@_,/@/04$>E///2.?GP.?\`WWH)%@!MS@`>ZH]@!WX)Y_/SWY^=!@3;@D#3
M9'``YRO,5'CYG(Y_)_.?C09_H%`X'RH*7>+)9[_!?MM[M=NN\"2@MR(5S@QK
MA%>;5V4AV-+:>9<21V*5((/RH-*<]\.;9UG<V1<5:.6K"K](ZU#)-,IEXTXN
M[+ZCU^U!_$9MJ8<?"O>"Y##P42>I)H+(&R_7C3IMG\`>]K5W&[=`9*8&)ZM6
MG']7L;Y3P&8RI%S:M=[9C!/#9)G/O@#D+)]0Z;^>>)?I;PG(M'M$-R%G:0%+
MG::Y=.TQRYX-_;#EGRM$FS*DN(_&!J-)\OL4I4>4T'.WXCF%8FUTZ_:,Z_[>
MY+?3[7,S#3V[9#B$7N$J*,OQ>/<;:Y'22DKE`!"6SYBNE(*@&SKV*:*[B\<L
M.=V=^TY)!O$-JXXYJ#A<\Q;AY2APE^WY';5(D!P));7%?Z@CEQMQOD$`*!]`
MZ^:6,)5BF00=7\7CDI;QS+O(LV6PXP5PEJ'E$=2HUU=;!2EM,^*VI?'3U@\&
M@N3%-PF&7JXMV')1<]/,PZPV[B^<L*L[_G>]_P#*[@^$6VZLJXY;7%?<4M)!
MZ1P109]:<#J&UH/6A8"TK2X%H4@CD$+1[JTJ'H1\P>:#GH%`H('CCN>/O!(_
MQ%!8.;:CX3I[",W,,D@V="A_%HSSZ7+E.6?=0S;[:RE<R9(<40AIMAIPEP@'
MCOP&$1G^LNIBPSIQBOX/\4?X0C/\_:<7=IS"P0EZSXF@-OLO*[^6NY^4E'"5
ME!`Z:"Y\1V_XA;[LC*<MFW74O,T*)5D>:/(N)B.@>^FTVM*$VFW-)5QY2&HO
MFLI`Z7BKDT&P:4](2`$I2D`!*0``!Z````<=N`.WRH)^./2@4"@4"@4"@4"@
M4"@4"@<@>IH(<CYC]-!*Y_-N?]Q7_E-!@3;C_LV;_P"*LP'Z,BG4&?J!0*!0
M0X'R%`X'?L._KV]?ST#@=^P[]SV'<_,_.@Z-RB19T-^-,CL2H[[2V7F)+#<A
MEYIT>6XTXRZE:'$.(4I*T%)"TE23V4:#R/R[3?4#PZLFRO6S0BR7[4#:KE%Y
M7D&L>WFTLJF7/2E]Y:G;UJ=I$T.N4Y;4EQ<[(\,;;<0(Z7I%N0@M!`#TSTOU
M2P763",8U)TVR*#E.&Y?;6+O8KK;W0\S*AR&TJX=1_.1)<5PJCS(DE+4N(^A
M;4AI#@4`%>S#"<4SBU.VG*L?ME^AN#@,SHS;BVSR#UQW_<?C.IXZDO,.MN((
MY!]00P(=*-1-+P[(T5S!V?:2M3J]/-0)4FYVP\=2RS8;X>;A:1Y77Y3<A;\7
MK2VE:FT`J`5&T;BK;;);%FU=QF]:57YUP1@]=VU7#$Y[AX"7;?E=O2Y:_+<5
MV0A]QE8)"%D$<4&P<6;#N4>-+MLUF=$D)\V/+AO-2(CR%`E*TNM+6AY`'?A"
M^X]?D`L#.M6L!TY0A65Y''B37PH0K,R7)]]N"RCAMJWVB`AZ8X[(5[C:5L]*
MED>\!W`8F3DFO.JBE)Q>Q(T>Q%X`MY/EC2)N97&&0>E=OQHE*;0\I)ZDN7/E
M3?(/E+XZ:"^,%T(P;%+BK(9[4_,\R?47)&89C*^F;J\M0!+D%#@]BM3?^ZU`
MCQ^E/"2309TX`'```^7';]%`````'`'H*"-`H.%]Q#;2UK<2TE(/4M9"4H`[
MJ4HJ*1TI'<\D#B@UEU(W?[:](BXSJ#K?@-DG-]23:6L@AW6^.](("6+'93<;
MD)*U>ZTRJ-UK6..GT%!KK*\06\9HXF'MOVN:]:Z>=P(^22<=_!A@RBX>EI:<
MES=$!J7'Y(6XY&940V2K@<4$YA>);JRRA4R\Z$[5[3*6D&-;84_6/.V8Q5RM
MMR1)D6O%V9B6^0AR,N0TE0ZN%"@SGH!MRR_2?(KQE^>;B-6M<LIO5M1;)CF:
M2;1;L5@QT2ERF38<3LENCP;:XDN*;4^9<E];?"5K('%!MI0*!0*!0*#C=`4V
MI)/'([$$`@\\@@D@=CWXY[\<4&H6Y3#];\C58E:/Y._`N;L2Y6U$-XF-`L]Q
M<:<5$S5]]KDRUP5!,<6B0%QG?/Z_+)2G@,&C2[<N,7,^Z9%>+M=[(J,BVXJR
M^_%8O-^4(9N60SKO'DM2&H#A1*1&A<+8"3R&>2:#T#@NY.O$6'EQK?'R4VED
MB%->D*@,SD,I"FY#T<.25-E8(46PI9)X)]308BVO?27X*82KLF`BZ.9+ESD]
M-M+RX:)"L@GEUEHR@'DA!X[$`C^_F@V-H%`H%`H%`H%!UY26E1W@]Y?E>6L.
M>:D+;*".%I6@@A:%CD+20H*!X*5<\4'E-J1I!J1LESR\;BMJ]BF99H=E-R7>
MMP>UVUH*O)7)67[MJUHPSW^B\CBA1F9'BC71;[['2Z[#98EI"2'H%HYK%I]K
MW@N.:GZ79#%R7$;\P78DV*X$OQ9"243;7=HKBO/MUVMDA*XERM,IMN5%D(4%
M`#[09>X'KP.3V-!2[S:+7>[>_;;Q;H=TM\E(:D0IT1J;'>0KL4K9>2I''_Y<
M<I]4]^*#7&5MJ@6>1)=TNS[,-*V+BL)NMFL$EJZ6=QI]1#_T?;[QY[-I>6A2
MO+>@^4&5$.!LJ`H+^T]T3T_TX?5/MEM=N633>57#*\DE.WS);@Z.2IQRXS0[
M[*@@GAB"F(RE/N]"@.:#,M!``#G@`$^I^)_.?C_?01H."0KI;*NOR^""5!(5
MP!ZG@]AP/51[)]3VH//W4/?YAEHSN?I%H1@6;[J-3[,I3&36'2@VYW',+D\J
MX9S//I[B,>M4M1("X2%OR6.DI6VE?NT%%7.\3+57H5"@[?-JV/R.OWKN_>M:
MM0V&7!P"J)&:LN'MR64\*0D2GVBL@+44CN'5'A^RL^6G_I*[HMPNNBW%)>D6
M&#D,?2?3QSJ/4IMO&\$9A3TM#GLTO(7ST>ZLGLF@V3TDVA;9=%`S^#71+`\<
MG-.+=^FUV5%XR%UXCDR%Y)?OI&^2'EGNX\[/42KN/4&@V72VVA/0A"$H'8(2
MD)2!\ND`#_"@FZ1QQP.".#V]1Z<'YCB@`!(X``'R``'^%!&@4"@4"@4`@'L1
MR/D>]`X'RH)>A'//0GGL>>D<^[]GOQ\/A\OA02N`>6OL/L*_Y$_\Z#`FW!(3
MILCI`'.5YB3Q\2<BG<G^^@S_`$"@4"@4"@4"@@0%#A0!';L0".QY'8_(@$??
M0=>4H-L..>X.A)42M!6G@=SU)`Y*2.>HCN!SP#0>6.KFBFH&TS.\PW6;3;'*
MR/',D=3?=PFV2WE35IS1"`'+IJ+II$;`:M>HL2,GVN1;6F$Q\G;9<;=*92^H
MAO/H/K?I[N'T^QW5'3*^*O&,WN*KKCO)$:Z6"[)*4W&P9):UJ]JM=]M<EMR+
M,M\I+;L1Y+B5)4A;:J#.''/K00Z1Z\#GUYX%`X'R'?U[>M!&@D7]GMZ_T?N/
M'8_W4&`]>=QVD^W+%$Y3JGF$.QM/E+%DLT8^W95EUS60AFRXMC48N7.]7.4Z
M6VF&H;2@EQ8+JT(ZE4&B[V);L-^*2]G<G)MH^UZ;T.1,!LLY<#<'JI;%GK_E
MC>8ZA&T_Q^Z1U%MZR0%/7AQES^,2&5<T'H=H[HQIIH7AELP+2S#K)AN,6ML-
MMPK/$:97,>"`E<Z[S"GVJ\760I)<EW*:X](?<45+<43V#+'`'P'Z*!TI['@<
MI]#P.W/KQ\N?NH(T"@4"@4"@4"@4"@4"@ASZ_'CX4$BU`MN?#W5#@^OV308%
MVX'G3='W95F`_P#$4Z@S]0*!0*!0*!0*!0*#A=0E2.#[O)3W'`)[_9Y(]%`E
M)`[D*(''/-!YCZX:4ZD;9]2[CNLVNXTC(<<N[+BMT.WNRLKCNZ@VB&?.;U*T
MZMC'1$8U5L$=Z8N9%"$-Y;;^(CZ_;4,N4&Z6A.MVF^X7`;)JEI7DC>1XK?65
M-]25>7<;/<HY4F?9,AMJ_P",VF]6QX*BR[?*0V_'=04K204J(9LH%!3[FZRQ
M!?D293<*/';5(D2W7FXS4=AD%;KSK[Q2TPVV@%3CKA"&T@J5P!S0>:N:;VLO
MU;R^[Z-;$L2@:P999I1M6;:VY`]*AZ":82%_BWU*R.,TM&>9-!Y+J<6QYU?F
M.MI0_,:25`!D?0+9%C.GN6_AAUFRZ[;BMPUP"WIFI>?--2(&*..)_&VO2[%U
MH<M^%6-LGR6!&Z[BMI`+\Q2UJ30;X]@>.`!P?A]_I_\`V@CP!QV';T^[\U!&
M@4"@4"@4"@4"@4"@4$JR4H41Z\'CGL.3V')^`YXY/P%!I1NET[UMSJZ8')TI
MO,FR)LZ[@N[(;NLIB)=9+D9]N'!G,,.,*C0D/E$A5V'FN-N-(8#!2X5@,5?@
M)U[.-B?<<BNMSOUM4';'B+E^DIMDJZ!$'Z1NLN\,S&IH;>6F0J+#<ZT)3S[@
M'-!O];D9"<4C(F?1\+)?HMMLE/FR84>6EH)`4>0IY*%CA1YY5W))^(8CVO(G
MMZ4Q$W63&E7).39<B<_$;6U'>DC()W*VT+[I''`X';M^>@V,H%`H%`H%`H%`
MH%`H.O(X#960/=]5?$#D<@'CMSP.Y[#U/(Y!#RXUJT%U#VVY[E&['9_96Y\J
M]=%WW"[<8[QA8SK!:88ZI^7X=#9!BV+5BUP4..,R(S3<?+`V(DI/M#B7"&Z.
M@&X'3O<KIW9-4M.+H^_9KDV6;A:+BRNW9!B]Z94&;CC.6VAY7MEGOUMDA3,F
M%*:0.6PZA1:<"B%K[BMV.DFVBWPEYK>I5XS+(%&-A6EF(Q'+_J1G-R5PW'MF
M.8Y"*Y;ZWGUMI7/EIC6^(WU.NR0A!%!J$K0O<?O2E1;[NRN,S0O;^\M$FU;7
M<!R*0C)LN86I+S$C6W.;:6''D.M%M,O"K*MNWM+\QF5(?Y4DAZ58#@^&Z:XW
M:,)T_P`7LF'8E8XJ85IQ['[=&M=MM[+*4H0TS%BH0@]:4EQ3Z^M]Y7*WEJ4L
MJH+YX_P]/NH%`H%`H%`H%`H%`H%`H%`H%!#@=NP['D=OCZ<T#@#L`.._P^?K
M02+`#:P!P.A78=A]D^@^%!@7;A_LV;[G_P"J\P/?_B*=Z4&?J!0*!0*!0*!0
M*!0*`0".".0?4'N*#K/^6TT5<!*4@`]*!V'H/0<I`'8$`]///':@\U-;-F6J
M2=6'M=-G.K5IV_ZC9BU]":P6Z[X\K(L"U`M#@\IG+)&*(<1":U%L225VV]);
M;1<@&T7%:T(!H,T;<MF&FF@URGYO-DW35;6W)"J3F.M>HTDWS-;I(=!+L*S+
ME*?:Q6Q,+*A$LME$6*PRH-J\PA5!N5TI/P''R^!_./0^OQH'2GM[J>W<=AV/
MS%!-0*!0*!0*!0*!0*!0*!0*!00//'N\<_#GGC_"@I\JX08"F?;)L>,)+H0P
M),EIDN.`$A#*7"%NJ/!/2GGMSS0<XD,#HX>:'F=T'S0H+![CI`)Y''<<?"@Y
ME$%!(][J2>Z22G[)[]CQQ]__`*T&!-MO^S<?/ZUYKS]W\HYO'YOC_=09_H%`
MH%`H%`H%`H%`H%`H)0E(]$I'IZ`#T]/T?#Y4$0`/0`>I[`#N?4_W_&@C0*!0
M*!0*!0*!0*!0*!0*!0*!02K/2E2CV"05?H'/_I0:^:Y:8OZCVNRP8$9E-QB2
M9$AB_.RW6G[.L0I0B+9CMNH$ETS'&/<5RA*05'LG@AJQ_P!&W65&,ORIF32[
MQE%L4VG&\?EY(XG&W)"4Q?.O-QE,NLR6YLAYMWV>.A;C"$DH*1U*Z@WXMT/)
M7,0A1)DZ+;LH-H89DSV(R)3$.Y%I'G):CN=+3[:'!T)+AX(]XGGB@UPTITAU
MWQ#$V[)<]:8L.9],7V<$1L`Q^3&#%QNTN:R$NN.@K>\IX!7(X3WY'(H,F_43
M6G\NR?V<XQ^\H'U$UJ_+JG]G.,?O*!]1=:?R[)_9SC'[R@?436G\NJ?V<XQ^
M\H.G<L(UU:M\YRWZWM2+@B')7!CO:>8PVT]+2RLQFW%^9REM;P2E:NW2DD\T
M'7L^%Z[2+;;W;OK7'A7=V*TJY1(>!8X_$CSO+3YK4=PKY<:2KD\J)[_'@@`*
MI]1-:1ZZZI_9SC'[R@?436K\NJ?V<XQ^\H(_4/6K\NH_9SC'[R@A]1-:ORZI
M^7^SG&/7Y?SE!1<CPS</$L\I_&]98-SO*%1A%A7#`L;APW4*DLIE%V0A96V6
MXA>=;X^TZA"#V5051K!M:5I2?PYE)4`2#IWC3G2LHY<0%J=!*$K!"5%//Y_6
M@Y_J'K5^74?LYQC]Y00^HFM/Y=4_LYQC]Y01^HFM7Y=1\_\`9SC'[R@B,$UG
M2>7-=.4]P0-.\:2>_IP0YZ\_G^-!;]VP[<(R;6FR:RQ)R')Z6[NY-P+&V2Q;
MU'WGHZ4N^\\V"2E/<*4D=AS05P8-K,>`G70IX4HH4K3S&U%:.!]OESCW2>$]
MD\CYT$WU$UI_+JG]G.,?O*"/U$UJ_+J/V<XQ^\H(?436G\NR?V<XQ^\H!P76
M<!75KKR."!TZ=XRD]1[`\ASG@'UH*-(PW<#]-6N/#UEB+L2XTI5TGN8%CGMK
M$E+?\40S'4Z$J;=<!#BNY`Y^[@*U]1-:ORZCMZ_]G.,?O*!]0]:ORZC]G.,?
MO*!]0]:ORZC]G.,?O*"'U$UJ]/PZIY^7X.<8_>4$KF#:SM@*7KH5>\`E`T[Q
MA(<400E"E>9V23]KC@D?TJ"X,%MNJ%GO=TAYKE,/+K$N#%=M5S38X5CGMW%3
MBQ+BNQH"ELJCH:Z%-K5PHDD#T-!EB@4"@4$O0G_=3V/(/`Y!^8/J#]XH(%M!
M'!0@@<$`I!'8]0[<<=CW'R/?UH)Z"'2#QR`>.X[#M^;Y4$C@X2>E/)^X<G]`
M[GOQZ?"@\T<[@;DIF1YY-TD<U.B1KC,FQ\>M&9);9A1,DML>*Q"R*'(==4!B
MD^6IZ0]"3RMQM"OQ02`*"Z,?PO7F_B*WF,W+(Y^E<)0/+N:XGLUUB];V>WES
MRW`E=IE2T-MX^ROEH1E.("`2*#?]H)`2CK4KH(3U*[*66T!)Z^?M%?/4>GL>
M/3XT';X'RH(!*1Z`#U]`/CZ_I^/S^-!3;P5IM5Q4TF65B'(*1;T]4\GRE<""
M.1S,]?9@>Q>Z.2!S0>8<ZT;MC&EJTUDYU&9EY$_.L,/4-+3DK&K*+I-%]M-Q
M=:=6)CSUL+3F/N.%:2\6T%2>2:"YL/A;LV-8L.FW1C)G=+47B>F9;KM)BINB
M\?F,+1;IEQ<0\6X=PMLA"DS;>\%JF,/LJB.@,N"@]'V^$E*3P3U*"0">R>.5
M=9/92@KXCU^'I0=G@?(?H%`X![D#]`H,?:IJD-X#DJH4/)ILPVYY$2+AQ2C(
MG9#J2VS]'J4I"4K;<6EU14H`);/KZ$//B)9]WB508T&X99/L*'D(GO7EOV._
MW#&(L>UL,`$+Z(V1JN#<YR6H<)?@)*T'E?<,U[=K+N3M^9-_A:OQN]H:PY#M
M[E2&BU'NN27-^*_;DV:.$@,*L$%F7!NCA2E$AV0VI(4I/-!N[P/D/T"@<`_`
M?HH)5D)25<#[^022!\`!W)^0^=!@3<&U?9N`OP<:5G[5[GSXD:W3M/&VW;S:
M'E267/I>2RMQL.PH#2%KDQR276E*;#:BH"@U'9:W:,V6/.<.5N7(ZA:=.A+`
M:;=EVI.2Y"G(')\22HB/8SC"K(Y>T<I(>Z0T.MM?`;+:",:Q,7G+#J.Y->LK
MS-J%L^DFTF2<A0JX*R1^"I*U%O'5%=O:LO4`EQAM2D`'JH-G^!\A^B@<#Y#O
MZ_?QZ4$CA"4CX=^!QP._Z/C0:L[CF<[DQ\9BZ?C42'?1/>FQ;QB:/:+/%7#B
M2%-P,EC=8#T.ZOK98ZPE092GK/`H,1X2SN2B9=H\O)T9H[8ADF?ISAMI48QV
M;<O!;8FR2,@*7%(=8?RGVU=F0P"MIPCS`E(/`;`;9OPBC2;'AJJS?VLU^DLI
M1<49'Y#EX]B1DMW%E5/7&46"A5G,%45;0!+)0ESWPJ@V%X'R%!&@4"@4"@4"
M@4"@4$I2D]RE)(]"0"1QZ<<_+GM\OA0.E/KTIY(`/8=P.X'YA\!01X';L.WI
MV]/S?*@C0*!^>@E"4@DA(!/')``YX].>/7CX4#H1SSTIYX`YZ1SP#R!SQSP#
MW`^![T$W;]'^%`H%`H(<#GG@<_/@<_+UH'`YYX`/''/`Y`/?CGY<]^/3F@C0
M*!00Z4]_='<]1[#N>W<_?V'?U["@<`\\@=^Q[>H^1H`2E/H`.P'8`=AZ#\P^
M`]!\*"-`H%`XX[#L*"'2._(!Y[GL/_?Z:!T@'G@<\<<\#GCY?FH(T"@4"@4"
M@4"@4$#Z?^_7X?XT%G9OGF(:;8U<LPSG(+=C.-6A`=NEZN;ODP8B.M*`IY8!
M*1U*2CTYZE)YYYYH-:$;_MFTCRFX^X33U3DHI;CA%T7U+?6L-(2DJ9XZO,4E
M*0?B>_PH+XM6X:PO39S-[@O6&VQWTH@75Z;#E,WAAYM#S+L5M`2__P##.QY/
M2$JY0\G[S0(FY?32\FTL6*?+N4NY9%#L2HA9]@G1'9LR7;F+BXS(*"N"9L1Y
MKS$\\D<\$=J"G6'=)@,QB?,OH>Q^!$<N01+E.JE)=%M?+4KW6V&BV6@4+*$^
M9V=2!SSS05R5N9T;BQX3[F6`(N;[4>!Q#EJ<ERG6'934)E):'4\8S+SO3\$(
M4KJX!Y#K/[I=#85N3=Y6>06;4IJVO-W9:'UPWA=Y8@VQMIUAEWSWI4HF,AIE
M"W/,;7R`$J4`X<DW$XS948[*L,.5E$'*+'>KQ:WX+ZX[2XEC\PR@&GFE*;=2
MAE]:G'E,I2&SP5*Z4$+0MN[S$KM;\-FVFP76Z_6S)KABB6K<X;@N)<+4B(Y+
M]YAH*D>2W-:<=1Y;7EMI<6I92@DA>$;<-B9R?*<4N[$JSW7"KO(M^119KP3,
M9MCS'M./WMI@$&3;;XT9`CE'*PN,M/?IH.K'W1Z6L+N`N]X>MRXMTG0+>AQL
MREW2/%N#5L1.AH9Y(9ERW6XS3#B0Z'>>W8\!4'=S^B\>W-765F,9B,J7[&4N
M-.B2TZ[.^CV?;(P_&,)E30MEA12`5,N<\)2>0V"8=2Z6W&E)<9=;\Q+G5R>5
MI0ML)'H$EI7/'KZ??0=I7'!Y]/CR.>U!C?)=5M/,/NGT3DF76:R7,,)DKC37
M_+<,<\=*ND]1`5\P.3VH+!RK<=IQ9[([>+%>H67O,W6S6I^VV64E4MIV]2Q$
MAK/4RXGI"SU*!0%<`D?#@."-N:TFD(0R[D1BSUI83*@N,R'%6]R5'DR6A*<2
MTE"&_+B2`5\#N!V%!%.Z#1AJ0Y#=S",T\GAH(>;D)0N>EYN(Y9XBRWP_,9>Z
MDK922H*!/)[\!4['N*T>R3)5XK8\QA3LA3(O$=V`VQ+#\:38(?MMU:E=;8;0
M[%A]3H:)Y5P>`304>+N(PE%MM>47Q,C',.R'Z1;L>2W%[KB3EP)+J5L*99"G
M89?:9<G,)='6ME!``/8!PY#N7TXLN(V;.(5SDWC&KMD2,?<NC+<F/&MTQ3:'
M@;F](92N%'=;6CV=QQ"([A<;"WD!0-!5X&X?3&YIB*CY`$NS%N)A6YV.Z)TM
MXR1"1#AMH+I?G*6MMT1FE%2(CJ93B4M'F@H:-R.'OZ</:H1(TR5C%ERQ>*91
M)9>0L8VJ-=W+5=KE<5I5U)8M$A#:KBTL!QIIY/''!H._/W&X3;(<!QYUY4N;
M=H,$P65ASRHD]Q?_`%DV^.IMYAN+T3RV%=;;+B.OY`$7='HM)D1H3>7(/F/,
ML)DN,N)CN>TP'KHRXJ21T):-O9=F%1('E)^?:@O;"]8=/,[R";CN)W^/=+M`
MM[=TEQ&NM'3;I#G0Q-;+G:2TZLA(6T5!//)(YH,LT"@4"@\=,P\65G$<PR?%
M1M5U?NWU7R:\8\;I"S71]J'=OHQXLBX1V)V>19C+<OCK0U+C-.M]PX$]J"C_
M`,,,C^R#K/\`KQHC_J)0/X89']D'6?\`7C1'_42@?PPR/[(.L_Z\:(_ZB4#^
M&&1_9!UG_7C1'_42@?PPR/[(.L_Z\:(_ZB4#^&%;_L@ZS_KQHC_J)04NZ^+9
M9+["?M=[V6:K7BV2@$R8%TRO0B?!?2"%`/1)6?NL.@*2%>^V?>'/J*"QOX1W
M1M'3T>'=D*.DA25I7MN'E^\%%Q'\L20I!X6`$\D@<<T''/\`$GTMO$A^1/V+
M:G2I$F?"N8+N9:,@.2;4VEN!*;;;U#2U&4@---%EI+;:FTI2ZE24C@*+;O$!
MT2A7=%Y@;!=36[O'G)GHG_7;1PNHGJ><GI=;\S4PI#;,J2\XA!2$-K45--4$
MD_Q!=$+M',6X;!]3)D<O753;$O-](E(\^<ZERX^ZC4Q2$^U.I;(([#@<]*1T
M@*7?]_.CEY18^=D6KUI<QZY62<RN#F.B9<Z,8\WV*TK*]1UH,20)#K<AYOB0
MXU[KKBDGI`'M\.WF1&;LK_AY9^(B9C-U1$3F6CR6(\T27)R7V`WJ4E+)9DK#
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M3AS+1];A1[<B6ZX%+U)7RM$X(D,G[3?XSRU(*U`AG*)XOT%EEEJ+L_UF2TPA
M+;;2<WT3"6D,H2RTGE>H8*_Q:4CE7)``!)XYH.VKQAFP/_L_UF//`X^O&B'^
MHG%!1)GBOXM=GC*N6R/4Z?(Z>@OS\DT$EO\`2#]GSGL]=<Z0?Z/7T_(4%`O7
MB;Z=7R`JVW+8KJ2Y#<F0IJVF,IT-@A<N`X783SCD#4&.\I4=P]3?OG@GTXH+
M)8\0'0R#/F79C8%J4W/D041I,AO--'EKD1/8GHS<=P/ZE^6HF&\\RIPI"P5%
M77U**J"E-;Z]$_I"Z2+CL4U2N;=RN-JGQK9*R_1;V2URK?\`QB,_&6G4@N)D
M%_\`'/.H42ZL<N%9]0K6.[_M#L4R893C>P#4FU9,B9+F)NT7-='/:O;)[7L\
MU_J?U)6VXY(:);<4\E7FH/2OA/:@FN'B`Z+7JW-V:Y["M3IEK-WN-V;@2,\T
MD5$:ND]MQ,V8S'1J4&F7G6U*0H-I0RV%$,)2D\4%1B>(QI+'QY>.(V&ZH'&7
MI;DIVT.9KHP_#5,4TQ&=4XP]J6H.H+#4<(2LJ0"A/"$D<T'28\0319J7'?8V
M$ZFMRXCD.2S(;S31M@1'[>Y[1&D1_*U)2IMY!*$NN-!#C[:4-.J=0@)`5#&O
M$<TFQ:RY'C^-;#M3;?C^;7*=.R6V-YGHN[;;U/FK\V?*N$25J,Z%&6ZL.OE#
M?6\OWG`5"@A<O$8TEO,]V5<-AVI4F8]'A0"5YGHVV$L6U!;A^6AG49++2&FO
M<"VTI?<3TH>*DCA(6C'WO[=6?(:C^'GJ"AGS@I'&::0D-NMVYV#R&U:EE/0B
MW+=B@<D="N@(Z>]!>F$>)/I1@LQBZX5L3U1L5P9M*;.U*BYEHN)*;.B0M3<0
MO.ZDNDH]H*E]))Z1T@*X``#*?\,,C^R#K/\`KQHC_J)0/X89']D'6?\`7C1'
M_42@?PPR/[(.L_Z\:(_ZB4%QXAXK_P!<\FM6,-[5=7;*JZJFCZ4FYGHT]%B"
=%;9MQ)=:A9U,E.>=[&(R`U'7TN/H6LI:0M0#_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>24
<FILENAME>g908770g16e66.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g16e66.jpg
M_]C_X``02D9)1@`!`@$`8`!@``#_[0GX4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``8`````$``0!@`````0`!.$))300-```````$````'CA"24T$&0``
M````!````!XX0DE-`_,```````D```````````$`.$))300*```````!```X
M0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF9@`&
M```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!`#4`
M```!`"T````&```````!.$))30/X``````!P``#_____________________
M________`^@`````_____________________________P/H`````/______
M______________________\#Z`````#_____________________________
M`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X```````0`
M````.$))300:``````!M````!@``````````````2@```&$````&`&<`,0`V
M`&4`-@`V`````0`````````````````````````!``````````````!A````
M2@`````````````````````````````````````````````X0DE-!!$`````
M``$!`#A"24T$%```````!`````(X0DE-!`P`````!UP````!````80```$H`
M``$D``!4:```!T``&``!_]C_X``02D9)1@`!`@$`2`!(``#_[@`.061O8F4`
M9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,
M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.
M%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`S_P``1"`!*`&$#`2(``A$!`Q$!_]T`!``'_\0!/P```04!`0$!`0$`
M`````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0`````````!``(#!`4&!P@)
M"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$`
M`@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D
M8N%R@I)#4Q5C<S3Q)086HK*#!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4
MI(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1
M`Q$`/P#U5))))2DDDDE*22224I9?UC>6=,<X:^]JU%C_`%I)'271^^U)3S'V
MEW@$[,EP>T[1R%2W.\4X<Z1JBA]`P,M^2QSG@-VF!"M+DL')R`QVVUXU[.(6
MSTBZZRRP6/<\!HC<2>_F@EU$DDDE/__0]522224I))))2DDD.S(HJ(%MC*R>
M`YP'_5)*2+"^N5AKZ(YP,'U&:_-:WV["_P"Y%7^>W^]8/UVR<:SH3VUVL>[U
M&>UK@3SY)*>)^V6?OC[@KE=K"UA+A)`)6,KM?T&_`(J>DQ,K&:UVZUHU\5K]
M(ZC@UV6%][`"T1KYKC6<*SB?2=\$D/>_M?IG_<AB2XQ)*DO_T?54E7S.H8&"
MSU,W(KQF'@VO#)_J[C[E"SJ_2JJ*LB[,HJIO&ZFRRQK&O![L<]S=R2FVDAX^
M1CY-0NQK675.^C96X.:?@]DM0\CJ&!C.#<G)JH<>!8]K#_TR$E-A8'UD^K%G
M6[Z;6Y`H]%I;!;NF3N_>:MQ]M==9M>]K:VC<Y[B`T#G<7'\U#QLW#R]WV6^N
M_9&_TGM?$_1W;"[;NVI*>._\;J[_`+G-_P"VS_Y-:'0OJ;;TKJ5>:[*;:*PX
M;`PMG<TL^EN=XK=QNK=+R\A^-BY=-]]?TZZWM<X1H?:T_FJ69U+I^`T.S<FK
M&#OH^J]K9_J[C[DE-E)4L+K72.H/V8693D6<[&/:71X[)WJZDI22222E))))
M*?_2S?KOTBKI/6OLU5UV0'U-M=9D.#WESB\'WM:S]U=`_P#Q>49OU=QNHXN5
M>[.?B5W"NTM?69K;9Z%4-8^MOYE7O>L[_&?_`.*1O_A:O_JK%UC/K1TKI7U/
MPW_::GY;<*IE5#'!S_5%36AKF-.YFQ_\YN24\1]1LVUO5OV4ZVQF'U1KJ+A6
M[:02UWIVUG\VQKO9O57ZW=*Q^D==OP<9SWU,#'!UI#G2]K7NEP:S]Y:?^+KH
MF3F];KZ@6$8F"2YUG8V1MKJ;_*]WJ.0/\8O_`(J\G^I5_P">V)*=W_&']8'#
M#JZ'B$D^FRW.<W\UOM]&EW]9SF6/_P"L_OI?XI2`.K$F`/LY)/\`Z$JL_HEV
M-]1>I]9SY=U#J?HO+G<MJ-]+F-_Z[_.?]M+%^JIZKEC*Z%TWV'J9K^TW_N45
M>IZL_P`E_K?^B?\`"I*2_5FK)QLS,^L;!^J]+;8_=,!]E@=510"/WG6[[?\`
M@_ZZ?ZL8-GUK^LQ=U6QU[0UV1DR8+FM+6-J;'T&;[*_H?X->A]1^KE-?U2R.
MB=.;$4GTQIN?8TBWWG]^ZQB\Q^JG6O\`F_UUF3DL<*H=1DL`]P:>?:?SJ[&,
M=M24ZO5_JI]8*?K/99TC"?14;@[$NJ`;6P:;7;V>VK;_`"UZLW=M&[5T:D<2
MN<R_\8/U7QJ/59DG)>1+:JF.W'X^H*V,_MO715O#ZVO&@<`8^(E)3)))))2D
MDDDE/__3'_C.<T_60008QZP8['=8NI^K7U1^J^7T;!S;<-EV0^EAM<7O(+X]
MVZOU/2W?V%Y=E_TJ[G^<=SSR>5W/^*;^D=2_J5?EL24^B48]&-2VC'K;32P0
MRM@#6@?R6M69G_5/ZO=1S3G9N(+LEVV7E]@!VC:R:V6-J_-_<6NDDIKYV!B=
M0Q'X>96+<>R-]9D`[2'M^AM=]-B!TSH?2>D^I^SL9N.;8]0MDDQ]'W/+O%7T
MDE*61U/ZI_5_JMINS,-KKG<VL+JW$^+W5.9ZG_7%KI)*<3!^IGU9P'BRC!8;
M&\.M+K=?&+G/:U;:222E))))*4DDDDI__]DX0DE-!"$``````%4````!`0``
M``\`00!D`&\`8@!E`"``4`!H`&\`=`!O`',`:`!O`'`````3`$$`9`!O`&(`
M90`@`%``:`!O`'0`;P!S`&@`;P!P`"``-@`N`#`````!`#A"24T$!@``````
M!P`(``$``0$`_^X`#D%D;V)E`&1``````?_;`(0``0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#
M`P,#`P$!`0$!`0$!`0$!`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#_\``$0@`2@!A`P$1``(1`0,1`?_=
M``0`#?_$`*$``0`"`P`"`P`````````````)"@8'"`0%`0,+`0$!`0$!````
M`````````````0(#!!````8!`P("!`0,%P$``````0(#!`4&!P`1"!()$Q4A
M%!8*,2(U%U$SDS24U#9V-U<8.4'18K)3<[-49'2T576UU5:6MM:7MUAX&A$!
M`0`"`00"`04```````````$1`C$A01(R40-A<8$B4A/_V@`,`P$``A$#$0`_
M`+_&@:!H&@:!H&@X2[C$LI"\:I-\DD1<Y;A4T^A0QBEV4=.`$=R^G<-M=?I]
M_P!F/L]5?CYQGO\`-K7ZJK^EKU.#SXK)+Y*4C52QK03)OV:A0%5;81(X3,`#
MML.VX:"SA@K*DQE2)G9"8CHV.4BI%LS1)&@Z`BA%FPKF,KZTX<&ZP,&P;"`;
M:\>^LULP]&NWEEO76&C0?__0O\:!H&@:!H&@:".?NEK*H<3Y8Z)S)G]N*6'4
M0=AV%XYW#</HZZ?7[,;^JLSYD_\`WVO]4-KOF_+B^]K)R!7+<P/'`""Z0@(*
M&`0$%"B`@._P@.F;\B6#"F2,A,HN;*QO%M8$/(-S*$C[#+,2*&!N(`90C1VB
M50P!Z`$0$0#3>3IT:UO1)-Q%N%MLMCMZ%CM%BGT&T(Q5;(S<W)RJ3=4[\2'5
M03?.5R)*&)Z!,4`$0]&N/V223$==>[O'7)I__]&_QH&@:!H&@:!H(J>\I/.:
MWPHG)-H](P6)D6@(@X4(W4*!5G[L#$Z7*:J6YMOH;ZW]?LSMPJ(_/#._WI:?
M8L/]I:[N>(Z2KEIBG49`O'<PQ.X<,(MRY4%9%/J66;H*K'$A.A,G4<PCL```
M?H!JL=TE.*<IXXCXZ6(]N]::F4>HF(5>6:)B<H(;")0,H&X`.KM,XPUKPD/X
MD<B<'5FQVY><R?4F*3F%8HH'&2*OXBA'PG,7I:E7,78OIW$`#7+?7:R8C>MD
MSFN[?RNN-7XXJA]DN_M37/PW_K6O+7Y?_]*_QH&@:!H&@Q.Q7VC5!9LVMMTJ
M=7</$CKM$+%8X>$6=(IG\,ZS9*2>-CKI$/\`%$Q0$`'T:#'?GLPS^-S&/^/:
MK_:VKB_"9GRB1[V.2\<VC@Q/159O])L4H?)..UR1L%:H*7?F11D'8K+%9Q[]
MPX,DD`@)C`78H?#K6DOEPFUZ*;6NS#JBN?(4#_1,7_(T-:G9CNW##_2EOVP/
MUNM--Y8E^49?^)(?NXZL3;AO358?_]._QH&@:!H&@B*[D/;'G>>5VQM;8G+T
M3C9.A566KBS&1ISRS'DCR4N63*Z37;6&%*U*B4O0)!*<1'T[A\&MZ[>,X9LS
MW1N__.I<_P#M16/]J)7_`%WK7^GX3Q_+KK@UV<++Q`Y'5'.\EGF#O32LQ5LC
ME*VRH+^!</#66MR4"14DFO:I1)$&AWX*B`HFZP+T[AON$N^99A9KBYRG=US:
M-`T#0-!__]2\UE_D#@OC]")6/.>8<9XAA')Q29R.1KM7:>A(+`(!ZO&!.R#)
M23<[C]*;E44'Z&BR6\,9L/+;BQ3J12,E73DA@ND8_P`E1C>9Q[<[OE>C4VMW
M:*=-TG;=_5I>S3D4RG&RK9<B@&;G4#H.`_`(:&+\-IT/(F/\J5B/NV,+S3LC
MTR6*8T5;J'9H6WUB3*00`YH^?KSV1BGI2"(;BFJ;;1.&+7W/F"L5/T(K*&:<
M2XWE'27CM8V^Y&IU/?N4=BCXR#.PS,<X62V,`]12B&PAH89_+V6N5^O2%MGI
M^$A*K$Q:\Y*V:7E6,;7HV$;-A>.9B0FGJZ,:SBV[0HJG<**%1(F'4)@+Z=!A
M^.\TX=R_YQ\TV6<:90]GO+_/_F[O=6NWD?FWKWE7G'LU*R?EGF?ECGU?QNCQ
MO5U>C?PS;!@^-^67&#,5]LF+<3\@\.9)R+4$G:]EI5'R)5K/8XA&/=D822SJ
M+AY-VY\*+?J%;NC%`P-5S`FKT'$"Z+BSL]QF3DEQ\X[Q[24SQF[%6'F<COY8
M?(]\K506EA`_AF+#M)R29NY8Y#;]16R:HE`!$0``$0$EO$8=A7FGQ'Y&RJD!
M@KDGA;*ED2;JO%*O3<B5F7M9&2"8*+OC5=&0]H`8HD'XZWJWA%V$!,`@.PLL
MYCIS1#0-`T'_U>*N]UQ*JG#3FH3%]2R9FG+C>P8EI^19>ZY\N<;?<A/Y^R3U
MQ8R";NQQE;JY'3$A(-,Z8*MSK`HHH)E3=0`7-=M;F)?I3W>BEYW[=V%.3F*<
M\9TF>1L_Q)Q'E=C3<I3=;N>/),7V)(2YEQ-2$(^JU^T4F&05?'80?C2,H@R(
M"29TC%$RI;AGSQ;,=$5?8YS79XSE<'$*5O%\KV"^;-6N&%\D,:18G<#-1$Y(
MT^=<TJ^5%\BW>A"76*F&9(].0*GNDQD5^OJ`I`"1K:=,]XT)W<^*N/>&'.S*
MN!<7SEZL50@HJAV)K*Y(G&%DMJ[ZZ4R%M,J60F8Z%@4GJ2,A**%1,=`5O"`H
M***'W.*FMS,U/G[PMW!'J6'J'V_\-OW;QV&.\<Y)Y62T,)U4JW5#HU4^.<>R
MZ[<JGJ99V=E(Z5D?$%'I(I$I`90KU5,MK.LZVU\>Z7.6[-OW"';M=%JT:H\6
M7+ITY5(@W;-T"<DU5UUUU3%31113*)C&,(%*4!$1VTA]G9$EVTJQDK%F8>2/
M<\@F"ZF'>#\'F"T>=E=K-H/)&5<B05BH&+L5L9%EXAI*/EIB\LY&=.@"B;6%
M(`*&34>LO$GY:O$U[UYW;)PC8^\1W,W,KRZN4]DF,:5NT9VS.9[++QSZU5JL
M2M>KL-1(56/4:C6:PI:KE%-!9Q@-BLX4BR+/U<P)JIIUIM?'7HW[R\[4W<`I
MG<WM]AX6\9;EC6EKY?@[#QYR)BUG#US&=%BDT8DL3-J6.`<&@Z,RB72"JCQ%
M^"#@0!3Q$5!5`%&$FTQUK]`-@5Z1BR))*MUY$C1L606:)G1:K/2HD!TJV14.
MHHDW47`PD*8PB4H@`B(ZTY/+T#0-!__6Q7WGO\Y'!_\`FC%_^:\E:S>7;3U6
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M8G:Q7Y3YG3SGV]^+:1X!QS5>XF1S?EDBCDI<:X!Q,7)1<A"^%`$0;Q-I3R4W
M;.3>L)*/R)!$)E4/*!T(NV.EO9=PY"]N>I5SM+YBX%\9()5H+;#,@C3&YA8E
MGLA9'KCYA?DWEBD5"M6;BR9*ML`1%RX/X2"`O`*F"+=),B=[.<O\I:HO=J7F
M<GVWN<U>RGDVO6=O30CK=AW-E<:QIVUPAJ]-N6@/S#"20-'`2E.NE=CWKI@H
M"3A0K%5N'2J8-I'3:9BZUEOW@SM?8RHY+;!9PD\P3+V/2?0^/\8T2WN+8_\`
M'3,9-!\M;HBIUFM+(G``62DY!HX3`?BI'$-M7,<_';X3,P$LG/P4+.HHG;I3
M43'2R2"ABF403D6:+PB*AB_%,=,JP`(AZ!$-5E[;0-`T'__7PSWG)ZS>=R2-
M*T=MG1F7'+&3)X5LNDN9H\3L^15CM'0)',*#DB2Y#"F?8X%.4=MA#6;R[:>J
M>SML=HSM@YGX=\5\ZVSCC2\@9/LV%L?RM]FG&1,ERL6^N2\*R<SIIJF-L@&I
M#>5&1*8'"!HU,2FZB&(`")=62,;;;2V96$:)0*-BZI0E"QK3JQ0*16V@,*_4
M*;!1E:K<*S`YU1;QD+#MF<<R2.JH8Y@33+U',)AW,(B-8<,9Z[3?;ZY/9G>\
M@L[\>660\LR7LT$E8I'(V7HV/D4JBP8Q<"V?TZ!R!$TEXR;1T:BBJ@I'&1=D
M*(."J]9^IA9M9TE==9LP3B7D9BJR80S32X^\XJMQ().Q4UXZE(N/DDZS8(BT
MP29G,"_BI)L2-GX%FX("*Z8"9`"FW()BB3CAJOC'P;XG\-2VW\F;"E8Q0K>Q
MBO:U[$.IZ5DIM.$!YY2U<RMFF)N238L#2"YTVZ:I$`45,?H$P[Z+;;S75^B(
M[.3':=[??+JS/KSF_C?59B_20^+)7RJ2MJQO:Y9T"?@E?V&3Q].UKVJ?$1`"
M`K*D>F`A2A\!"=+"S:SBL7P=V:>VCQ[FV%GQ_P`4Z,^L\8<%V<]D>1M>6G39
MX0`!.09L<F6"U0D7(("4#)*M&C<R)PZR=)]S:F(MVM[I.]5DT#0-!__0KUY8
M_"GDKZ]^[^Y?*/RA]T4C]?\`\-_9?U>^L/1.(M:>Z9_A"YL?>9@_^N\EZL8W
4XBZQK3D:!H&@:!H&@:!H&@:#_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>25
<FILENAME>g908770g17i48a.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g17i48a.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X5!A:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](EA-4"!#;W)E(#4N,2XR(CX*(#QR9&8Z4D1&('AM
M;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN
M=&%X+6YS(R(^"B`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@
M('AM;&YS.F1C/2)H='1P.B\O<'5R;"YO<F<O9&,O96QE;65N=',O,2XQ+R(*
M("`@('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(*
M("`@('AM;&YS.GAM<$=);6<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N
M,"]G+VEM9R\B"B`@("!X;6QN<SIX;7!-33TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+VUM+R(*("`@('AM;&YS.G-T4F5F/2)H='1P.B\O;G,N861O
M8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C(@H@("`@>&UL;G,Z
M<W1%=G0](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP92]297-O
M=7)C945V96YT(R(*("`@('AM;&YS.FEL;'5S=')A=&]R/2)H='1P.B\O;G,N
M861O8F4N8V]M+VEL;'5S=')A=&]R+S$N,"\B"B`@("!X;6QN<SIX;7!44&<]
M(FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]T+W!G+R(*("`@('AM;&YS
M.G-T1&EM/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1&EM
M96YS:6]N<R,B"B`@("!X;6QN<SIS=$9N=#TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+W-4>7!E+T9O;G0C(@H@("`@>&UL;G,Z>&UP1STB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+V<O(@H@("`@>&UL;G,Z<&1F/2)H='1P
M.B\O;G,N861O8F4N8V]M+W!D9B\Q+C,O(@H@("`@>&UL;G,Z17AT96YS:7-&
M;VYT4V5N<V4](FAT='`Z+R]W=W<N97AT96YS:7,N8V]M+VUE=&$O1F]N=%-E
M;G-E+R(*("`@9&,Z9F]R;6%T/2)A<'!L:6-A=&EO;B]P;W-T<V-R:7!T(@H@
M("!X;7`Z365T861A=&%$871E/2(R,#$U+3`T+3(R5#$V.C4Q.C(R+3`W.C`P
M(@H@("!X;7`Z36]D:69Y1&%T93TB,C`Q-2TP-"TR,E0Q-CHU,3HR,BTP-SHP
M,"(*("`@>&UP.D-R96%T941A=&4](C(P,34M,#0M,C)4,38Z-3$Z,C(M,#<Z
M,#`B"B`@('AM<#I#<F5A=&]R5&]O;#TB061O8F4@26QL=7-T<F%T;W(@0U,V
M("A7:6YD;W=S*2(*("`@>&UP34TZ26YS=&%N8V5)1#TB>&UP+FEI9#HX.48U
M031#.#)%13E%-#$Q.#,S0D%".#DW03,W,30X,R(*("`@>&UP34TZ1&]C=6UE
M;G1)1#TB>&UP+F1I9#HX.48U031#.#)%13E%-#$Q.#,S0D%".#DW03,W,30X
M,R(*("`@>&UP34TZ3W)I9VEN86Q$;V-U;65N=$E$/2)U=6ED.C5$,C`X.3(T
M.3-"1D1",3$Y,31!.#4Y,$0S,34P.$,X(@H@("!X;7!-33I296YD:71I;VY#
M;&%S<STB9&5F875L="(*("`@:6QL=7-T<F%T;W(Z4W1A<G1U<%!R;V9I;&4]
M(E!R:6YT(@H@("!X;7!44&<Z2&%S5FES:6)L94]V97)P<FEN=#TB5')U92(*
M("`@>&UP5%!G.DAA<U9I<VEB;&54<F%N<W!A<F5N8WD](D9A;'-E(@H@("!X
M;7!44&<Z3E!A9V5S/2(Q(@H@("!P9&8Z4')O9'5C97(](D%D;V)E(%!$1B!L
M:6)R87)Y(#$P+C`Q(CX*("`@/&1C.G1I=&QE/@H@("`@/')D9CI!;'0^"B`@
M("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A=6QT(CYT>#,Y/"]R9&8Z;&D^
M"B`@("`\+W)D9CI!;'0^"B`@(#PO9&,Z=&ET;&4^"B`@(#QX;7`Z5&AU;6)N
M86EL<SX*("`@(#QR9&8Z06QT/@H@("`@(#QR9&8Z;&D*("`@("`@>&UP1TEM
M9SIW:61T:#TB,C4V(@H@("`@("!X;7!'26UG.FAE:6=H=#TB,3(P(@H@("`@
M("!X;7!'26UG.F9O<FUA=#TB2E!%1R(*("`@("`@>&UP1TEM9SII;6%G93TB
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M6C)H<&%M='-B5S5V63-2,61N9#1E6'`W9D@Q*V8S3T5H66%(:4EM2VDT>4YJ
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M,61N9#1E6'`W9D@Q*V8S3T5H66%(:4EM2VDT>4YJ;R8C>$$[*T1L2E=7;#5I
M6FUP=6-N6C9F:W%/:W!A86YQ2VUQ<39Y=')Q*W8O84%!=T1!44%#15%-4D%$
M.$$Y2&8T,3AQ+SE82T@W>B]41F)E928C>$$[964Y13`W>DHU;'0Y63`O>G9*
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M:EIA5&(K:S!Y168V=FIU1E5*8V53.28C>$$[84YP3G`Y;BMA,'1P<&)J:$9:
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M;F9V:6QM9'`U<3AV6&QY;'1B6#!C<SAH;VMA,7%30EAW=TMM=4MU>%9*5S@V
M959L67%D4VA"0F]252\P>%<R=CAA*U9F*W)L1#DU+R8C>$$[<&ET<$@U,3%8
M479-6&QU-C!A,#AX<'!B,VA22F(R24TP<5)",6%14C!+,%IL2$=V875+=DY:
M=DMV;4XT:%I$.'DV5W0P;6](54I6128C>$$[-F=08VM.0W-C4'%-2T)N:W%E
M66]+53-P46]2+S9$.'IK8B]M=DEJ:VYK>5%U46$S0WEI:79)=UAI9UI0=T\R
M2V]N>D1O,G`V<DQR028C>$$[:2]-=#=E,#%!,U`Q5S%62D%S0U1V1U57<5-)
M4TDT,61"4VY52')7<7%Z.4%A:2ML87!A6%`U;5,S3C%C>E<P=6U81$I)9W12
M8C-,5"8C>$$[<V]62D8U96]V0F$Q,F]E>'A64VTP2%@U,W9'=5!Z4DUY>7I'
M97E1=U-)24-*;&Q51#`U5C(T<550:"MZ5$962%1.2C@Q85)Q3VE2,B8C>$$[
M+W=#67$S,FM7>E)R9GA41U-0:DA$16]Q<2]V5$E8645C4S1(8S%*2GA60F%2
M-4LQ>7ET63-J+TTU-U,Y83)G:'5&53-&=W!D0WIY5B8C>$$[95=3<$):-D%Q
M1DE'2W!N<4]J96%P-7)M4S$O3E0V=7-S:VAH6#!:5SE/371%54$O9D%606IA
M=%%2.%(R-VA645!L:GI#5VEL8C@Q6B8C>$$[2DHT63!32U(T<%!H8FUJ4VMC
M6E9Q2D%H2'A623=%1$98;S-L1'I(;S)L*U=D3C`O5719:&YV<F%"634U03=Y
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M>#EP1E!W1V%12#EK57`K,%8V14I6-T119$]S-6AD96U,:E530TI.4FY#=F-.
M>7!Y2$]G-'%A1#1&;V\W1$98>F1"6C9"-D5D64Q3=B8C>$$[159Q:V9H.'-K
M>%90<5AL+R]F1G`O=T%"2"]41EAF579,+SA!=FDP+S1#4"MM2W`Q-4MT9$=4
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M06U(+S0S6$5Q2'`R0DQS5F1I<G-666@U<S!85#4Y6G1B<5=A5V%384HT2G1'
M:7)),28C>$$[-4=+1D8T<S1J:5-.-DTP:%A9,"M*83=L0V$V6F](2#9V3G%!
M:DQ7<7%T:EE1+S=Y,G%O3TMI3E-">F12=#9J1"]60S<T17`Q:7)S5B8C>$$[
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M341Y,60K65`P0D).22MP9E=,:3$Y4#`R040R:V%Y4VMK,"M%8RM)4#=2<E-T
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M,G4W>4IL3DXP:3EB,#$K4S`R>%9,+TDO+TMA,B]W1')4+SA!2G0X4R8C>$$[
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M04-A8F8X>'1N+WEA:'A69G`S+VLQ5B\U:3=R+T%*35,T<6\K6%`X028C>$$[
M>5IR+T%0369Q2"]-+T963'E0.$$X<')B+W=#=%`O>6)F17%(9FPW+T%-<&)"
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M:4PK6DY1;T(T6%!197AX2W%N-5)F-R8C>$$[,BM:4"LR6%`O=T%31TMP:"]W
M030O=T0O04(R.54O-6AL+S5/1$5Q.7=W2F1I<GHW55`X06IO6&8O1V58+VLT
M8TM&1$9867$W1E=E-B8C>$$[4B]X>7),+VI"1B]X05E%;W9&6%EQ.'=S9CDT
M<F8O:D=N+T52:%%R-'$W1E9F5"\K3VAA9CA:-'8K5&=X5C9$9U,W1EA9<3=&
M5T1F;28C>$$[;&0S349R<'=H:V%-1U8S4$4P*TI!<%4O3F$W65%G<V$X,W5,
M,WEL-6-I=D57-5=23&YN-G!C9W%T26ER0E=537)2=59)874R2V]V>B8C>$$[
M9'%#9F]J>3EB;UIR8TA4<7-,95%$.3-C=T-%<'EK5U9T:#!*4#0W-'%R*V$Y
M979R0WDP2S(P-BMU3&-(5&E:1UI22S=I5TE*13=S2B8C>$$[2654<7E63DM(
M=4-.=U953"M9.2MS:'-);G5B=TDK;49P<$E*16AE4DQG1590=TYX64Y%1S(R
M.75H0W$W.'A5-&5B8DY/4F)J6C(T-28C>$$[36%K,&UM1E-F2$5+54HU<C%/
M>6DO3E<Q=$AC:60W,U1G<3A725!*;V%F14)X+TA&57$X,'I4:C@X8F5-4WE#
M33,R;E9J1'-&4'=1+R8C>$$[<V<P>%9:<G8O:R]"+W=!>#%J+S%$45EQ<C96
M3E`O>79Z,'968WAF5S=V.$%D;#(T9C=Y4VXW3F%9<6=V2FE*+WEV2S9B:4]8
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M5C5F6F5T.51G+S!A-%`W=$]L=DU2.28C>$$[:V8U1T9#="LK+S5:<FXO<$AM
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M-%`K639X+S9H;TU65DY++W=$5V=0.$%O-W4O*V]36$953C5-+SA!2C0S6"]B
M4C%4+VUF:7%H*U8O.$$U3E%F-CDU+R8C>$$[>$8X4W)V>6@O=T1*:V8W0S4O
M56-3<2\X;W8X064S>DHO=T)S=68X031K35941"]N2"\X030W97%F.'=Y+W=$
M2G=9;%AT<V]M2U5I6B8C>$$[569X9%-W*S1-=C8X0U9(,#E3+S,O1"]Y2F8X
M039Q-'%L-3!F5F=Z;4\Y9T-U-U!2<EIY45A9<V1X3T\U>%94;7-.5&=4,4IT
M4W1):R8C>$$[<48U=F)U;W%X;T)5,TAC;D96:T9V95A"55<K<E=5>%IE86E/
M0FUQ;&%C:%,T3S%D<3165B]W0D4V>B]Y,U<S+T%%:7EF.6Q'0E5:8B8C>$$[
M,G5O45<X54,S15)72D924UE7<E)25&8Y-VEQ<#9E<&8W+V@O-45V+T%.5F-6
M9#9E<&8W+T%)9BM23"\Y5F-64WE(43E8:&AJ:5<O="8C>$$[>7-A:$9*=%AR
M4E)49CDO:7%Y-'1B-C)+0S0Q5WEH36AP1TI)1U1K86=51F)G5C9J0W)D=EHV
M:&-+5W0Y57,U;$9+=$AB<W=(2E%W-B8C>$$[6$(V<7=0>7A65D=J-G-747E8
M<T)62%8V3&)/0U-J0FAU6GHS1T)5=SE0578Y+W<O.&E8+T%/<75+<3A1;$-!
M4W-R=C-:5DMJ-VE7+R8C>$$[6&EQ-T9867%X2#AW+TI6=C5O<S=:8G)54G`Y
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M=C4W;3`Q:$PX,U,K9S!F1E%A<5-X0VQ:1S-Q<#=D:FER4&-#56<X,F5F9DM8
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M8DA6-VY6<F1:0F0S6%`Q4S!J36XW,6QD*TM%,%=R24]M2V]A3'E,-28C>$$[
M9&EM=DIO-'!&;79O8FDR;6M%<V=):G5P,W5:46TO=VMY>6QG4G5-5E5D1R],
M=GET;SDQ85AD;D),.5ES459T6&MN;6LT9V\P6G%'628C>$$[:&E58VER5D]+
M<#@K;U=%8FQ(=5EK9&1M5FY5169-131Q>%!Z-35'.&AE96]R3TQZ0DM*57-'
M:V$S159Y27%'54M'<GA/+S)":7%&8B8C>$$[.'10>3-B5&10,#5N2G1D36I7
M2S%4-C)W;TDO5S1&9T=O-5@V,4I4:U`R<U922&PS>4XU1S!$44QN4DQ'-DQ7
M.39S474U<&)H5VQK828C>$$[0TI):V-K8U9$8UDQ<GA51#)X5G-E4G9)4C`K
M-S`K85E4,C$T,$QY<3%Z>%E.8DU8:5I7:DM-0W).6')H46PY=BM5,S555SEF
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M070T=U%U-W$O<6-U6'$X:'=!,F5L3R8C>$$[;T]&3$UR:S964%`V+W=#:T9I
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M8U9D*VLY3B\U831F*U)I9C%X5C,V5#`S+VQR:"]W0U)I9C%X5DI.9#!0>71R
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M=4MU+R8C>$$[4V5M+SAT8U`O27A0-C1Q-SE*-F(O=T%T8U`X07E-5"MU2W-9
M.#<R5CE%64QJ4F1!='14=7!$2DIC.#1)2%IY9TA#3FYK95!J>G%F:B8C>$$[
M,W!40VA)<F(O1G!S-VE39GE(<#,Q;%E9,V=J55<T1%108T-.-"MR8DQ&5U1K
M4U!#;4MT,G`X,7EX<UIF25=N=WE,4V=0,6-H9WA65B8C>$$[<'9S4GE,3EAS
M<'A65W9B5'I)+VQ#0S=T9DM/;7=E6EHR45!93D9$3$9%1$I*6&LO=S%Q:4I8
M=TQF8W%H23,X-5-/,TQY0G`P16%"6"8C>$$[-4U91S5#:FPP;W4T26]O,G)V
M=E1E9U9615AZ1&4R5VU83G`U4G,W95<V:6MK=31,:7IJ45)(,6ES26(Q2&IK
M0EI&6&UV1W%H:61Y2R8C>$$[0E9%>#)N;65/3UHU+THR;5-U9G$T=#0T:V=(
M,C%L:W5#>$QF<VQ9-&Q(:657-#)#<45L2&Y0-GI"-F9K4%1$83-#<WA*.40Q
M25-+:"8C>$$[4DE+9T=P;V9H-V4K2W%T-T@U<W0P4F]023)M,V19<#-K5E)B
M;U)+2EI"1$=+;F-E;4EY>F9T1W5W,GA64VIJ.#=(530W851Y3G!59"8C>$$[
M;%!+2S-G141E:$-W441K;%%89%=:=59+8D1A=E1&5W114&Y!4GA.62M1=%!,
M:"M5>5-,8D=Q5F8T5BM*4E5C4CA8,#`S,E943'DO828C>$$[83-E87)$2'$S
M:S=4.5`P-VA)2C5W:T1T-F=#*VQX569S=%)I9'1Q:&5X8D975R\T83AU9CE7
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M,2LU354O*T1,3EE*=$UK;6EI93-H:5`Q-'EK4DI,-B8C>$$[<DQ*1W9P.%-Y
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M23A8+TY/0DPO+UHB+SX*("`@(#PO<F1F.D%L=#X*("`@/"]X;7`Z5&AU;6)N
M86EL<SX*("`@/'AM<$U-.D1E<FEV961&<F]M"B`@("!S=%)E9CII;G-T86YC
M94E$/2)X;7`N:6ED.C@X1C5!-$,X,D5%.44T,3$X,S-"04(X.3=!,S<Q-#@S
M(@H@("`@<W12968Z9&]C=6UE;G1)1#TB>&UP+F1I9#HX.$8U031#.#)%13E%
M-#$Q.#,S0D%".#DW03,W,30X,R(*("`@('-T4F5F.F]R:6=I;F%L1&]C=6UE
M;G1)1#TB=75I9#HU1#(P.#DR-#DS0D9$0C$Q.3$T03@U.3!$,S$U,#A#."(*
M("`@('-T4F5F.G)E;F1I=&EO;D-L87-S/2)D969A=6QT(B\^"B`@(#QX;7!-
M33I(:7-T;W)Y/@H@("`@/')D9CI397$^"B`@("`@/')D9CIL:0H@("`@("!S
M=$5V=#IA8W1I;VX](G-A=F5D(@H@("`@("!S=$5V=#II;G-T86YC94E$/2)X
M;7`N:6ED.D4X0S)$,S!&-#-%.44T,3%"0D0P1$)%1C4T-SE!.3E$(@H@("`@
M("!S=$5V=#IW:&5N/2(R,#$U+3`T+3(R5#$U.C4X.C$V+3`W.C`P(@H@("`@
M("!S=$5V=#IS;V9T=V%R94%G96YT/2)!9&]B92!);&QU<W1R871O<B!#4S8@
M*%=I;F1O=W,I(@H@("`@("!S=$5V=#IC:&%N9V5D/2(O(B\^"B`@("`@/')D
M9CIL:0H@("`@("!S=$5V=#IA8W1I;VX](G-A=F5D(@H@("`@("!S=$5V=#II
M;G-T86YC94E$/2)X;7`N:6ED.C@Y1C5!-$,X,D5%.44T,3$X,S-"04(X.3=!
M,S<Q-#@S(@H@("`@("!S=$5V=#IW:&5N/2(R,#$U+3`T+3(R5#$V.C4Q.C(R
M+3`W.C`P(@H@("`@("!S=$5V=#IS;V9T=V%R94%G96YT/2)!9&]B92!);&QU
M<W1R871O<B!#4S8@*%=I;F1O=W,I(@H@("`@("!S=$5V=#IC:&%N9V5D/2(O
M(B\^"B`@("`\+W)D9CI397$^"B`@(#PO>&UP34TZ2&ES=&]R>3X*("`@/'AM
M<%109SI-87A086=E4VEZ90H@("`@<W1$:6TZ=STB-3$N,#`P,#`P(@H@("`@
M<W1$:6TZ:#TB-C8N,#`P,#`P(@H@("`@<W1$:6TZ=6YI=#TB4&EC87,B+SX*
M("`@/'AM<%109SI&;VYT<SX*("`@(#QR9&8Z0F%G/@H@("`@(#QR9&8Z;&D*
M("`@("`@<W1&;G0Z9F]N=$YA;64](D%R:6%L+4ET86QI8TU4(@H@("`@("!S
M=$9N=#IF;VYT1F%M:6QY/2)!<FEA;"(*("`@("`@<W1&;G0Z9F]N=$9A8V4]
M(DET86QI8R(*("`@("`@<W1&;G0Z9F]N=%1Y<&4](D]P96X@5'EP92(*("`@
M("`@<W1&;G0Z=F5R<VEO;E-T<FEN9STB5F5R<VEO;B`U+C`X(@H@("`@("!S
M=$9N=#IC;VUP;W-I=&4](D9A;'-E(@H@("`@("!S=$9N=#IF;VYT1FEL94YA
M;64](F%R:6%L:2YT=&8B+SX*("`@("`\<F1F.FQI"B`@("`@('-T1FYT.F9O
M;G1.86UE/2)!<FEA;"U";VQD350B"B`@("`@('-T1FYT.F9O;G1&86UI;'D]
M(D%R:6%L(@H@("`@("!S=$9N=#IF;VYT1F%C93TB0F]L9"(*("`@("`@<W1&
M;G0Z9F]N=%1Y<&4](D]P96X@5'EP92(*("`@("`@<W1&;G0Z=F5R<VEO;E-T
M<FEN9STB5F5R<VEO;B`U+C`X(@H@("`@("!S=$9N=#IC;VUP;W-I=&4](D9A
M;'-E(@H@("`@("!S=$9N=#IF;VYT1FEL94YA;64](F%R:6%L8F0N='1F(B\^
M"B`@("`@/')D9CIL:0H@("`@("!S=$9N=#IF;VYT3F%M93TB0V%L:6)R:2(*
M("`@("`@<W1&;G0Z9F]N=$9A;6EL>3TB0V%L:6)R:2(*("`@("`@<W1&;G0Z
M9F]N=$9A8V4](E)E9W5L87(B"B`@("`@('-T1FYT.F9O;G14>7!E/2)/<&5N
M(%1Y<&4B"B`@("`@('-T1FYT.G9E<G-I;VY3=')I;F<](E9E<G-I;VX@-2XW
M,B(*("`@("`@<W1&;G0Z8V]M<&]S:71E/2)&86QS92(*("`@("`@<W1&;G0Z
M9F]N=$9I;&5.86UE/2)C86QI8G)I+G1T9B(O/@H@("`@/"]R9&8Z0F%G/@H@
M("`\+WAM<%109SI&;VYT<SX*("`@/'AM<%109SI0;&%T94YA;65S/@H@("`@
M/')D9CI397$^"B`@("`@/')D9CIL:3Y";&%C:SPO<F1F.FQI/@H@("`@/"]R
M9&8Z4V5Q/@H@("`\+WAM<%109SI0;&%T94YA;65S/@H@("`\>&UP5%!G.E-W
M871C:$=R;W5P<SX*("`@(#QR9&8Z4V5Q/@H@("`@(#QR9&8Z;&D*("`@("`@
M>&UP1SIG<F]U<$YA;64](D1E9F%U;'0@4W=A=&-H($=R;W5P(@H@("`@("!X
M;7!'.F=R;W5P5'EP93TB,"(O/@H@("`@/"]R9&8Z4V5Q/@H@("`\+WAM<%10
M9SI3=V%T8VA'<F]U<',^"B`@(#Q%>'1E;G-I<T9O;G1396YS93IS;'5G/@H@
M("`@/')D9CI"86<^"B`@("`@/')D9CIL:0H@("`@("!%>'1E;G-I<T9O;G13
M96YS93I&;VYT2VEN9#TB3W!E;E1Y<&4@+2!45"(*("`@("`@17AT96YS:7-&
M;VYT4V5N<V4Z1F%M:6QY/2)#86QI8G)I(@H@("`@("!%>'1E;G-I<T9O;G13
M96YS93I/=71L:6YE1FEL95-I>F4](C`B"B`@("`@($5X=&5N<VES1F]N=%-E
M;G-E.D9O=6YD<GD](DUI8W)O<V]F="(*("`@("`@17AT96YS:7-&;VYT4V5N
M<V4Z5F5R<VEO;CTB-2XW,B(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z2V5R
M;FEN9T-H96-K<W5M/2(P(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I&;VYT
M4V5N<V5?,2XR7T-H96-K<W5M/2(R-3,V.34S-3<B"B`@("`@($5X=&5N<VES
M1F]N=%-E;G-E.D-H96-K<W5M/2(R-3,V.34S-3<B"B`@("`@($5X=&5N<VES
M1F]N=%-E;G-E.E!O<W138W)I<'1.86UE/2)#86QI8G)I(B\^"B`@("`@/')D
M9CIL:0H@("`@("!%>'1E;G-I<T9O;G1396YS93I&;VYT2VEN9#TB3W!E;E1Y
M<&4@+2!45"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z1F%M:6QY/2)!<FEA
M;"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z3W5T;&EN949I;&53:7IE/2(P
M(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I&;W5N9')Y/2)-;VYO='EP92!4
M>7!O9W)A<&AY(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I697)S:6]N/2(U
M+C`X(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I+97)N:6YG0VAE8VMS=6T]
M(C`B"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.D9O;G1396YS95\Q+C)?0VAE
M8VMS=6T](C$U.3@W,#$T-3$B"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.D-H
M96-K<W5M/2(Q-3DX-S`Q-#4Q(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I0
M;W-T4V-R:7!T3F%M93TB07)I86PM0F]L9$U4(B\^"B`@("`@/')D9CIL:0H@
M("`@("!%>'1E;G-I<T9O;G1396YS93I&;VYT2VEN9#TB3W!E;E1Y<&4@+2!4
M5"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z1F%M:6QY/2)!<FEA;"(*("`@
M("`@17AT96YS:7-&;VYT4V5N<V4Z3W5T;&EN949I;&53:7IE/2(P(@H@("`@
M("!%>'1E;G-I<T9O;G1396YS93I&;W5N9')Y/2)-;VYO='EP92!4>7!O9W)A
M<&AY(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I697)S:6]N/2(U+C`X(@H@
M("`@("!%>'1E;G-I<T9O;G1396YS93I+97)N:6YG0VAE8VMS=6T](C`B"B`@
M("`@($5X=&5N<VES1F]N=%-E;G-E.D9O;G1396YS95\Q+C)?0VAE8VMS=6T]
M(C0S,#0S-#0Y,"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z0VAE8VMS=6T]
M(C0S,#0S-#0Y,"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z4&]S=%-C<FEP
M=$YA;64](D%R:6%L+4ET86QI8TU4(B\^"B`@("`\+W)D9CI"86<^"B`@(#PO
M17AT96YS:7-&;VYT4V5N<V4Z<VQU9SX*("`\+W)D9CI$97-C<FEP=&EO;CX*
M(#PO<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*/#]X<&%C:V5T(&5N9#TB=R(_/O_;`$,``0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`?_;`$,!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`?_``!$(`.`!
MX@,!$0`"$0$#$0'_Q``?``$``@,``P$!`0``````````!PD&"`H"!`4#`0O_
MQ`!E$```!@(!``(*"PD*"0H#"0`"`P0%!@<``0@)$1(3%!@W.%EXF-<*%187
M(79WM;:WN"(Q-38Y5UB7V",S-$%6<G6RL]4:1U%5<7.4E=,D)B<R872!D9;P
M&4)G)2@Z1DA2>;'Q_\0`&`$!``,!``````````````````$#!`+_Q``X$0`"
M`0$#"`<(`P`#`0```````0(1`R$Q$C)!46%QL=%2<H&1DJ&R(C-"4X+!TO!B
MPN$$$_&B_]H`#`,!``(1`Q$`/P#OXP!@%8'2KR/E%7E(0*T^)**P))941LU5
M&UL"@P7=<1+FFY*LLJEXRND[*TEGC6,5;V].ZNM9:Z')S@1M%"5SOOL"23QZ
M'4:-M.Z[%[&GYI-=I7;4MM=(W1Z*PTEB/5L.;)5EXP_@^=>=ITY;]_M8*UK-
M'R8M47,LFEZV=X]+K-=KQ22OC+3+]-6MR&V,#_W88XK%J:,+"SATU'9>LJB=
M+W19-77"][MY+2?D7TEMKZKB52JKW&I&Y@MO@?IZIJ&5K8T?F4C7V?7D-L2Z
MT\GLITF"YK3U=&7Y7((+(HLLA6QQLU>6AG4M`YQ98E<@I%5OKG:5H=UVMXXG
MEQ6M;FY?2V^KFLN16%&I#6=#<9KCAM8^\/R2IFK!W4*J^8A%H\?5<!>W&432
MST$-L1^KYKLATKM$_KIN;7\%):(R"6D,Z\`AJ*HETI)NJ;I[-'=<M/G>3/5'
M,KF1*NC^MZ]'ZHEHN0<"L5OB#2VF4#9#1'7&'KG:K@2BTXC6A<T7V5<$7K:+
MS.9R(TEL)K>22YWKQ[@!,39WIL/=W41155]U*XK&^YO!7[_L8<'FUS8]\>EX
MXR04$TB\F.IDAO<C.&W(Z!#Y&MDXY-6%5ERR5M=WV9KFCBJGH&B8W$[Q$1;Q
M;_JR4DD*<V0IMCCPS)$XFBH[[[_BBZ7)K?5NEV%'<1Q7'-#I2EX()(IS5$'.
M9GMAXX/\BB;7Q=NN.OJ$^]XER(]U3`!\<;:>BVY12C_3\"<I.>LCJE0N%:"1
MH=4L3*-83G`&HWT>#E2].J5*:%C5]QZK+S8Z5QH9D$F>:)A=E*UL/*<$=;QG
MC;<T#>5LOE'1OSSEJR,QLD=;7E9"-+%N14.8>-[@`YD)4O3S,!LB@]AFFVAK
M"UDY,.E3M6&4EAN;?8?7A7-;I.)G#4[W'JAACZXQRE.:%M:*4<:[YBBBZI!1
M3?QYW2=3,C5+IG'15M++/E-IV/'@*2EUD$29NK)4XQ1.6Y@D#9'Q%(:6\8K%
M75K5Z:I46K&\\W[F3RZ;2&:Q69!-++0H:)O=.3.HWPPY,0"+G3(SD!P:A\/7
MNG'><6^TC>`1N/67<*];,EKP6ZH8Q`9M(XFG5,L9GT=E@)+6E>OB6%)5OIL7
M>M9*'##D=R_GH>2]RWW`;&:'*.\/*?D49KELJJRT$;7VM![:Y\1Z8[K6J)JY
ML#ZLF\ZB\$IIV?827(F=^<RG>#(5#DT(G*/JP%^]@:C<D_B>G12-/.NC6:IM
M'.CI*93&D,W3TPM5S:+*N04<C2DR@>140A,J:5+/P&?JXD\PJ74^`2Z*"5%R
MW>R(E/MX[$F>]J_"@\D++;IFYO0G)BM.E5O55GUX+O538R?\O.?\(>N1,+01
M^.R>Q:J3(8[7D;3\+^09\7GJ8@J@$A'(`=ILMIK8&HC4W>)Y:.TM.L+FMDT?
M317329+%*^"S-T=!%(W;<7578W4INOP[U2`^3W*'I)GYYY,<;X,CDR9(P5-)
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MAA]SL#!QFO`A<TQ.?TOR+5RZI)LLD2M:@/C<%LR,U1%=73&'4+*7*9U&Y!,V
MUAC#(!GL&?W#][PU!95'6YTO6AQO6]-W/5IQ)/OBX^6)'*F4)H).INQ0B.<Z
M('0TGB##`)383851+OT;CW;4*D9J2-JP"AJ6=\G)\]0Y;904929++VJL_=0\
M*&&MC8L^"*+)VY-5HORJ=OLWT\JWD15SR\Z2:M*/IR)V2PF&G^]CQ1<I7R,?
M^)7(>UGZ%>[[B?/)W(HM8561"PCIM9%ACNN`1.M)A82)TC:9BD%CGBDT/9G9
MQ8$A0EJ-6UMNRDOB25+J*YUTX$N`Y_<]37%OB+IQE-A-F.B5MDZB..U$\A)A
M#HC&G'HN7WD0:G?9Q`43V0\KVGG6RK*+4-<8)<)J[L3:MA;!#5\X4(7HT1DJ
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M=CN"EZFDNI6!/+W)%I825DO&I8DO<4X5D@`664JG#:%'+5!9)12<!SR,*<HH
MG1981Q*F4Z85?9L[,#;3!`P!@#`&`,`8`P!@#`&`4%7U?'.EFYU3.SH357(E
MRX<PH!?$(]N942,,"?)3+("[R1;R`0P9%(4URN;M'[ZDM45<ELF-0[4%9JVC
MMDO!4T2B$J,"+$HN*54GC6M]*I4PIA5XUK0P]LYN<\X+55;2&P11*J(\^7CQ
M<XR-Y<WXN\@[6L=&W33@5".0=I6XL3$6\EG%G+F.U'*40'N)*S&J&=7$),9-
M'U[=VA]TG$4CHO=&W>DLYK5==>1[(.='260FM[&M=/2EAI;<G[+2$BC%9O?'
M&Z;+K)F?&_AXOL*60Q@8&F:,,LJWW?V>W(6XQO-3SA[:Y"X+H1(P-,E(52AL
M?O[_`(32-4JW5=755I6[76[_`#43S8G.#I*XL59$MBU!L,NCVSN2#-`88CX_
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MK2GKN-BII<'.)[Z.;C'><P<5T+Y#6!<'#RP+#:*HX_6\`=45U++$KQ?9D/F=
M+M,XDUH39IA\;.DFK(:RGJ.*G]H"O9S&MCT4(TP12.4TL%E4;:OHG2^E+[J$
M0MG2&=(6HEG'1J3\=')^%*V$9]AL2GC%<L&;)DWN\JY'1V"S^+3]TG+V75_N
MI::TIN4O<"LB)I#:V!:R%H>I/)%LB;"8P)R8WW^:>A/"EZK5)IW[*7X#(^9O
M2(N:?C!:<1BDNG6TBZP@\@4#'Q)Y%T_%:XB;E`^/$AG1SI3<ZF2N27[,*,5/
MUIMT"0Q^2Q@4M?FM7'6H#G)XW(TKP"4?:7=[47I>FY*NGOP,]9>6O/RMY"FA
MZ"O9=+FYVY%<D543U/J,NNQ'NZ&5VZ2BWJU9*N8[)8'=FBW'V+5;Q:+B=G0N
M;V&V/<4>X2O8'!F)W#8@^:6A2+TZ%I2I["==;]JM4MU:M$]<'.='(GD!?%AU
MI9[#%TH&2EIE9R>(-E.676CI#Y<SW]-:L:Z_3V)-I6]12Z&'4;C#:N]\V`M2
M&,/+RXKCF\XI*1IL1B'%)5VK2M5<,5VFBU=W'T@\Y245J/V[9"PBU:FZ)2WT
M#DIIVQI+'FR8V]=]C*^90WZ5,4C94"V+0A6YMS/8M2.3['A-M=K()&D9D0CD
M!=7%^?Y^\R6HK5<YIT>A163YZ=+[*;.UWSDZ0A]L&AXO+J/1,YTE64TP22,D
M\;+Q**M!ME-J6A`[VM=KM4<M402@&VC8=#8O9>J_L,F3.\H1OQ;8B>#2YE"E
MA(AQC?1Z]*NPHJ4JZX55*8Z&12Z])/TA3G1B.;1NA@L$U9*ZX?J;$02?BIR:
M`<GMBP(!R6<.3,.@S$=W"C=QP*R*VJB,LILAE#!#$94A>8NMLQ7,95!A@#)C
M5JMU72C6":HWV5?V,DL?I$.D%26;.F.L./C\HCJ2K$J]C:K'XB7)''F,V0;%
M..\F2>VKE';8ES%+&AU,L>T&U2R(WN.NZ)QA*]B0FK_<,]2J7`HQI>].M;=E
M=%:X4IKNQKDIRRZ2(,+E]7%QMXBKXW/E\1=FM6I^+U^K7FY'.MN1L(A\+00G
M<7F\A)HW;I3#J]6"HE\G=)C'9@F;%ZF/&$,S._IM@E'&NJYM:J]M_=IVYPJY
MF<S)`ZWLU3F,NL-55%RRXL,]+NL,J*U*ZA<]C4^YM-]&/572*4V8^-+M/7F9
M4Z\D*'-B+J]`PLRA=[[,=ESS'5<)$U!174OK&555534:Z,+[U?5X-*^M_>#@
M8`P!@#`&`5N]]MSA\E%>'I0<*?7C@[R8_,7AER'?;<X?)17AZ4'"GUXX&3'Y
MB\,N0[[;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N0[[
M;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N0[[;G#Y**\
M/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N0[[;G#Y**\/2@X4^O
M'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N0[[;G#Y**\/2@X4^O'`R8_,7
MAER'?;<X?)17AZ4'"GUXX&3'YB\,N0[[;G#Y**\/2@X4^O'`R8_,7AER'?;<
MX?)17AZ4'"GUXX&3'YB\,N0[[;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ
M4'"GUXX&3'YB\,N0[[;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX
M&3'YB\,N0[[;G#Y**\/2@X4^O'`R8_,7AER/D)^2_,-(]NDF2=$/;*62/C>S
MM+U($_([@X2]O#5'CG=0P-CHZEW6%>X-[&HD#\>SHU:@Y,V'/;N:B+(&Y+!'
M!DQ^8O#+D?7[[;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB
M\,N0[[;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N1ZCA
MRGYI.R!:UNG1*W*Y-CDD4M[BW.')?A$L0."!82-.L1+4:B[C$ZI(J3F&$*4Q
MY9A)Y)@RC0"`(0=ADQ^8O#+D?QOY3<TFE`A:FKHE;D;&ML1IF]M;6_DOPB1(
M&]`B)`F1H4*--=Q:=(C2)RRR$R8@LLD@DL!10```$.@R8_,7AER/<[[;G#Y*
M*\/2@X4^O'`R8_,7AER,XK7DGRUE\ZC4:G/1S6U4T2=W#25]L9]Y`\4I2T1)
M%V@XSVS71^$6V^RMT)T:66G[F9&A<L[,\)G:>U`,&$0U&ETTWJI)?8WJP<C`
M&`,`KUD/*CF>U/[XV,W1?W/)V=N>'-`TR5%R3X=-J.0MJ-:>G0OB1N>+H1.Z
M!,[)2REY")U1I'%*4H`0N3$*2S2@#M1CTTMF3*[R/C]]MSA\E%>'I0<*?7C@
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M3'YB\,N0[[;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N
M0[[;G#Y**\/2@X4^O'`R8_,7AER/D.W)?F&_#:3'SHA[9>3&%W32!B&[<CN#
MCB-E?D9"E,D>VD2RZSMMSNE3+5B=,Y(]DK""%:DHHX)9YH1ADQ^8O#+D?7[[
M;G#Y**\/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N0[[;G#Y**\
M/2@X4^O'`R8_,7AER'?;<X?)17AZ4'"GUXX&3'YB\,N1D$3Y1\R'R4QIED71
MD7)"H^[R!F:WV9./(_B`\-\29G!Q3)'.3+FB/7*XO[JC841Q[JJ;6-O7NZXA
M(-,VHU2TTD@8.,>FGLR97^18%@X&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`?%DDC8H?'7^6RAT1L<:BS*ZR.1/3@;HA`SL3(A/<W9T7';Z]$HV]`E4*U)
MN];T622,>_O8!K92/*^-WJOAQ47B+ZE:9G&K.?DSN<\Q!U"S*:ILPRL']I?T
ML=?G<2(2YX!LYC<23U:!R[2X)"3>VMJH81+5*[*>9,%461JT8TND'N<<8T)N
ME,GBAR1<M:75.J5Q9W4,R]8TO#(L6MKHWA7)E+><I3FZ"0[H'1NUV[2+2I0(
M)-P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8!KA.^1*>#NT_:#*^E3LIKY15O=&DKE$B#92AM58^M3&;#$9S_`-V.
MSN8_L*B+-L86DM3Z^256WI4*0+6J`\X)IAMKY$A$61HVW5=3BCCEHTB#"G(9
M*G6M*UL(1A=VYE(1/:%,L&[1Y0_*UKCJ'&.:0LN4>XNP1(]$E1;9K@(V_O[_
M`(2;@#`&`,`8`P!@#`&`,`8`P!@#`&`,`UXY17HCX_4[*9HD/8%M@J6YP9Z=
M@CUM_4K+5M=0VK%,/K>/,</:9#-G]WDB]+H@2.(QQ_=T#:!>^&-HVYK7&E"4
MJO\`;EK-(^CAY6\WK^XZ7;R(YJT9!Z&61F76!'ZUI>-L\P8Y84TT^%Y:ILZS
MAZETBD7=BAXF[:ZQAC&UL3*C2I8HK>0IW=(^(#2AU-132BZW*]TI?_E"DPKV
M5I99Q99Q/1+W,<2<`!I1I5ROYA9I9@=#`86,'&?81@&'>A`&'>PB#O6];WK>
MMY-'J?<SO_JC\V/E^1Y_X5?:'DD[I_7'(?V9L4>I]S'_`%P^;'R_(_F_95UG
M[UO6^B2NC>MZZMZW<4AWK>M_?UO7>S?#K>*/4^YC_KA\V/E^1%"GV1PS*7DR
M2?\`P/Y8CDQRMK6J)0U3M4RR=48SSE19B(E7(VCBXA>U;>*>K7*5+VM2N-;'
M9W>'Q0[)%NGQW"M9+U/N'_7'YL?+=TC+(5[)R=JUCZ.)5ST+\]@$5;]:"@C,
M*L!3%8^AT$HH@.D;,Q<6D#<FT$@@@G6B4P-:*)*+U]P6#6E'J?<Q_P!<?FQ\
MOR,L_P`*OM#R2=T_KCD/[,V*/4^YC_KA\V/E^0_PJ^S_`"2=T_KCD/[,V*/4
M^YC_`*X?-CY?D=9U/V`"V:EJZTRVH3$"RZZA-@`9!K=.0F8$RC39(PM0G'25
M#I>)OTY:2;6Z0H]*MD[/TE3]GVD$%+N;6HD7`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`HYY2<OX7`>2EMP/7!+C_`&V\
M0.25W[:V;/)NTQR4R21`J=@E4?=3D7>X6*J`?$6"TG2+,+DIE:M<E1K'PI$!
MM1.RA(;9"SE-536-+Z\GK.)VBA1/*OC6["C;5,5J-JNCTM>$7VR6M8*#CG7]
M(3N$3I/4SZ\1N3`LB23-K!`:]GB1Q?;*=:[@$P=A"#*$2%0A?BG<S:ED)7C=
M5(SBRTO,HN+<7BM6U5.HRRXIJM'6YZ+WJN+',Y)&`,`8`P!@#`&`,`8`P!@&
M.2Z7Q6`1E[F<XD3+$HE&T!SH_P`DD+BE:65H;R-:[:K<'%::2F3$AWL(-",,
M#V9@P%`T(P8`B`J;Y$<W;G<)VPQ7C.WOJWW0QQ!+Z%;V*J5,P6\GGJ-25P;K
MHBDD=YTJ@[)2,0I!L:.V6&UNJA#9\L]U\275HZA<$HHG*1TEK[;\+KG=6M=&
MC7K5I=:V$V6A$4$P:6&>1A,M.7)#6*R8#+JUES<M;%AR!<G7QB:-#,ZA)`J(
M-TA=TA"MA?$G:76/.SLT*DB\\<X?^UX$)VWR1.8Y@;2-&10NY^1)J!&O61$E
MU&SP.I69U`(39-;^GJ=$ZE5_'5981J(_&D;:^698`2%'N&ACLU-\@?H^)2TN
MY<=RT_;2>S3W&XF&R@ZX[:E9MU\C'9L4-2ZSG=J`SLD)8G`PI0N@-'07NUT0
M517HSB$W=J1&X.\TF@D#8OLZ<3EU;&U<C"NC!<=^O]H2Q<7@BM/Y.)Q]&73!
M!QKPG\3(C\6&#YJ29>L%N7`H>+WOB9/DD#`&`,`8!XC_`.H+^:+_`/K>`=7O
M#OQ1^+/FY4A]6<8S.:7B][XFQN"!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P#%7Z=0B+*MHI/,8K'%NH^^RW:1^D+0T*M16+]Q
M[DTFVG<%B<W4?COMBW^WKSL'M<T=W(_;!2G[J([,#UR;%KY23$E*>=PT]//@
M]E!#R9.R&DS4.BBC]BB1H%P@2,.B#B3NMG$LUVHTHS_J&`WL#FEYH>.MRJ^/
M59_9GHC-5AF/K/@C-;YT>I_:981T._X@<H?.21?9[HK*;7WDNSTHMLO=Q[?4
MRX3*RP8`P!@#`&`,`8`P!@#`(JM.[JLI1$SKK,EZ.-ZD*Q2A84.D3L]OCT<A
M3;7.@VJ.QY`[/[@C96_6W%^<4C::WL+;K;@\J4*+6S\!*N!5%R3Y+7%,[(N?
MC<LJ=:[JJ<N*G[5KB<5/";(M/<3;:\<:=O6MGOD35S*QKWIQJ^Q)'[80`F4U
M,XR:R"Y!&[`612FS2JB=)WL=I*B==&FZN*='A58W_>ALQ5/%!>9<<[Y,\B8[
M"H@]K%42EC)#XS=UIW`SQJ9PA9,7,=MN%CV+':S-8ER"/S!UKB,PV(0:+Q2+
MU2.21A\5RABF)T=C`AO0L-J2NW*N_3?YY0;:]H<MC3&3C*\K*UX_F#&FD7+<
MQM1J7R?)="V6J:N)\=?D2QK>42@.A@'R(E[4XUV05LDRK8U:FUQLFB`4ICCJ
MU;^7?33M+4E.UU1L0)A%9QTMA9>[EKRZ*3UC@]2*525U&$U[F$VECXJ<9--I
MI(%`-*G^72EU=I"]*=:.<7%0,(.Q$-MX_O8KD2;@@CBX_!%:GR<3CZ,.F`<9
M\)K"X#89$32;.K8HDR,,!A11E-R@XPLL;4D$`LPX-XD!-&$.]!$:$@D(Q:V+
M10-;T#5Z35U5W?Z4O)J[GCTEV_#^[3)O>LN3\Z59?J6E7KWQ?K7<^9'LZGWK
M\1[UER?G2K+]2TI_\/\`'O\`^_\`LQ?K7<^8]G4_$NSX?W8?WWK+D_.E6?ZE
MY3_X_P"/;_\`S_MQ?K7<^9/LZI>)=OP_^;1[UER?G2K/]2\I_P##_'M_[_[,
M7ZUW/F/9U2\2[/A_=@]ZRY/SI5G^I>4^O;_W_DQ?K7<^8]G5+Q+\?W4>`ZMN
M30![]]*L_@"+_$O*=?Q;_P#KMO\`B_T_Y?\`LQ?K7<^9'LZGXE^.K]T'6-P[
M\4;BSU_?[W*D.OJ^#_%E&/XNO?5_Y[_TY0:'B][XFQN"!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"OKFT_P!+1A[K==<5PG5D
M!UC%DLD:;6FL)C8;Z^G!505T4OA>X>C>34;=#I`BA2E6E=60YK=2'14RGJ2A
MO!1Z24F\$WN515*]M+15M)7UNOIBJX,B.ASJ)ORS(>56O(V4/DLIMQG=@EM3
M;7EFU4O=XO9UB5;9=CA5:E;?'&Y6A>KBC"UM5I$2=];D%3SM;7JENVY&MTS2
M&FL4UO5"<I/!IK8U*ES2PPNX5*U.:'CK<JOCU6?V9Z(S389CZSX(RV^='J?V
MF6$=#O\`B!RA\Y)%]GNBLIM?>2[/2BVR]W'M]3+A,K+!@#`&`,`8`P!@#`&`
M:RWMRJK*B3E;(^N`E4S21Y',QQT3=)"$`(CV<G7N*];,$L><HFRNYD6KVS'R
M)QU]=FQTFI\#?&UB+-$D6*48E)OA^]Z(BD3VJNNSXC?/$N5P.:6!1;38M13*
MN+6'/*WB4UK^VW*!OZMR9YF77THD<>-(DU01UT@MFQJ`V#7L[:VV:Q<H*Y3M
M))H8)PN=U:/M[]3WX'OQTB&<0(K(;JY#S8Q[NBVG4YA>S8\JG$V=9<L76=<%
MHU?0-+0<X;C*YX?79=N2J%P5.R1HF3/,7:R5:EFCD694$?BHC&Y?9:$FWH6&
ML_%)35E<IU::4<KFCW%TV6>0X1+ATE=$+ND>@DF!4('SE7(F54K9+&=P["4H
M(I".+7&F(VJ[;[J76YG,AB>8R)PP==O*M_;CN-ZBBBB"BB""BR2"2P%$DE`"
M64446'0"RBBP:T`LLL&M!``.M!"'6@AUK6M:P<GZ8`P".+B\$5I_)Q./HRZ8
M!RLP'\1(5\4HY\SH\T%#Q>]\3+<$#`&`,`8!X&?O9G\P7]7>`=&W#OQ1^+/F
MY4A]6<8S.:7B][XFQN"!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P"C_I=?")Q8^)?)'Y\XWY=89[ZKXHJMO=_7'TS(MZ+;QKY3
MYO,K^LFL<FWQCN?$BPS)]:/!D"\T/'6Y5?'JL_LST1G=AF/K/@CBWSH]3^TR
MPCH=_P`0.4/G)(OL]T5E-K[R79Z46V7NX]OJ9<)E98,`8`P!@#`&`,`8!J4X
M\M*D=+==../NF=H/-WSW90^%SEX(8&Z+2&QHJU0E5)X;!U#J\Z<7^<P]+9T,
M=A-BB/$L[R-4N0,3F]KH])D+0)HZ5_?VYE=G%?CS8,T?5%=<A:R2/J=%6?("
M$36;N\762AKA,J<'6/5M%Y/17(>42&0R2S4-^P)3.)Y8S,XJU[O#)ZF5BD**
MLI`L51F3#IO4]*>^[2M%&J:*Z*XFZCG-(/1DG>Z6XPU?'K1Y23`ANDD]:6,*
M2(Q2,'.XW!>"T>2$Y:VYS1UO'GYZ<Y)*FR+MK6\3V?OSW+'>`0-]-6361MPY
MWNB_<.XE2G^-Q<1E)ERV]*QW5R,<VQ2U*K*=&H+/'X(Q.(RCE\"HN";6NJ*J
MH"::0FTXEIW%YG,WVA;5MFSF;+VMJ4-X-Z%<M6O?A7[:#:#!`P!@#`(XN/X*
MBM3?^2N)Q][77_\`EAT_BU\._P#1K`.2R!R[8(/#`>X.[C.QBD=#V9''J]U!
M(^Q:$>NS)4$5R80>4+JZRSB3#"C0;T,L8@"T+=]5M[GR*G%U=\<7\<>9E?NP
MW_(&\_1TOSU;8JMO<^1&2]<?'#\A[L-_R!O/T=+\]6V*K;W/D,EZX^.'Y#W8
M;_D#>?HZ7YZML56WN?(9+UQ\</R'NPW_`"!O/T=+\]6V*K;W/D,EZX^.'Y#W
M8;_D#>?HZ7YZML56WN?(9+UQ\</R/`R8;[6/_F#>?_4%_P#ITOS_`";_`/IM
MBJV]SY#)>N/CA^1TR\._AXC<6=_Y>.5(??UU?XLHQ_%OX=?Z-Y07O%[WQ-C<
M$#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!'MLQY]E
ME:S:.1AU=620O$=<4;,YLCD<S.:=P&3L2<*5T3*VY8@[H&'24Y2@=&=P+3G&
M[;WME6]H=48&M4'@O()N3\;VZ3[<%CC4MA/P;)?R+3DH6*9P214](TJ<@AG6
MKW)PL%)$IW-6%B:3[-$=)QCJI;,=+@+Y`F-<!-5?MPV7^6G"Z\T6Z77PB<6/
MB7R1^?.-^76&>^J^**;;W?UQ],R+>BV\:^4^;S*_K)K')M\8[GQ(L,R?6CP9
M`O-#QUN57QZK/[,]$9W89CZSX(XM\Z/4_M,L(Z'?\0.4/G)(OL]T5E-K[R79
MZ46V7NX]OJ9<)E98,`8`P!@#`&`,`8!KA?5!L5RCBA\GF2F+0J)NB"23!F11
M^!C#*D\7F,*LAH`MFDBCKE)X8D;9)7[0K<5L4>64]4WB5&[4HGM!'I"PB4Z?
MO9]R#D=C3ODV2.(\25!=2<=0JEQ<@Y7(F%K"IFH5:U0I>6_B9%'1O.8Y!IR6
MJ%BA;R*E;0XUJ6I4;65S'K=4KUS]$A.&-[U<^7`VQJ.FZZHV(EPJM(\!C:1N
M"Q[>%JE:X/<FELG=!`,>IC.9<^*G&33>:/QY85#[+92ZNK^[GA`-<O.T65H`
MY;J2?@#`&`,`8!'%Q>"*T_DXG'T9=,`I>K'P;5[\1XG\PH,T%#Q>]\3.,$#`
M&`,`8!X&?O9G\P7]7>`63<._%'XL^;E2'U9QC,YI>+WOB;&X(&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!@R*SZU<V04E;K#@SA'`/!
M$=&_HI:P*V0,@4FI24S$)U(<#$(7A0<M1E$-FS]+335:4LL@0CRM#"A7MTO+
M4UOG$0#2]-J!X:EUTTP2M;'1&G<&]85J9I#-%*D:LLY,H+T8``]`-+&'0P!%
MU=D'6]=P59Q3O52)-J,FFT\EWJ[0464/6%:QOD/QO>(]7D&87=)R)H_25U98
MDP-;DFTILV,I5&DZY"WD*B='ICCDYVBS0Z-(-,)'V19@@[OM8Q4'1)7K!)%%
MC.;G1RDUDRN<FU@];+5>EU\(G%CXE\D?GSC?E=AGOJOBCNV]W]<?3,BWHMO&
MOE/F\ROZR:QR;?&.Y\2+#,GUH\&0+S0\=;E5\>JS^S/1&=V&8^L^".+?.CU/
M[3+".AW_`!`Y0^<DB^SW164VOO)=GI1;9>[CV^IEPF5E@P!@#`&`,`8`P"*[
M?NFNJ+BH)=8SZ)L2+7)*P1ME;&]PD,QG$K<0F[:(77\,8DR^33>9/.R#O:R-
M1IL<75260I5=S@1(UBD@$JFLB6G++Y5J4TFY5LXH/2P3RET5X=IW1"ZER$LH
MP)R!ZY72)D5*V6?N'W)1Y-$QE>Y4ZP*-G:F+Q<S@6RKHL.JTPQU\M6_'<;UD
MDDIR2DZ<HL@@@L!)!!(`E$DDE!T`LHHL&@@+++`$(```'00!UH(=:UK6L')^
MF`,`8`P!@#`(XN+P16G\G$X^C+I@%+U8^#:O?B/$_F%!F@H>+WOB9Q@@8`P!
M@#`/`S][,_F"_J[P"R;AWXH_%GS<J0^K.,9G-+Q>]\38W!`P!@#`&`,`8`P!
M@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@&/2Z5QV!Q23SF8.R5@B4,CSU*Y
M0^KMCTB98['6U2[O;LLV4`PS25N;$:E8HV668/11(]@`(74'8%+-JW?PGGT`
MF4)DO*:(-$>D;_/[%D]A&5U=S=,"GZ?LL[@,B-2*61;%&=E9HC1,F3U9&%$A
M.EZ,+`WICWQI/$R)AKIH]3[CI._&+T)*4>%7IU7UP-D^ECWH7%)"+6^O6[LI
MC>MZ_CUN8)MZW_XZSJSSX[RN>9+JRX,I7J#PZ\=_.*HCZU(KFBVS.U&>P]Y]
M,O2RQSI=?")Q8^)?)'Y\XWY589[ZKXHMMO=_7'TS(MZ+;QKY3YO,K^LFL<FW
MQCN?$BPS)]:/!D"\T/'6Y5?'JL_LST1G=AF/K/@CBWSH]3^TRPCH=_Q`Y0^<
MDB^SW164VOO)=GI1;9>[CV^IEPF5E@P!@#`&`,`8`P")4](5P7;R^]EC,H?+
M0/8BHLS2*1.KF^@@T:[G3E.3'7#2YJE#/`$DG4)B7"9GQ5`UN$S6D(!2A:[)
MV9C3M@$M8`P!@#`&`,`8`P".+B\$5I_)Q./HRZ8!2]6/@VKWXCQ/YA09H*'B
M][XF<8(&`,`8`P#P,_>S/Y@OZN\`LFX=^*/Q9\W*D/JSC&9S2\7O?$V-P0,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P"`>0-]M-`L\,>7AJ,<$DLEZN
M.J5H]2/39&VIE@DUL>22=Y-BT1FSN%`SQB"/)W:R6,91J@1&E:UM0A5+TPE*
MO[M2^Y\R'\AB)=R&L.AR8L8E)@S+[:HYKIV.4(9*,ABJM\<TK>D$QIFPT38&
MUFA*X$M$E?79C$G1+):SQENF4`5RD*75U_[R[>PV1P0,`P8RS(`2"<''2UD(
M2UJ5LZ>N!ZP!+9%`@1'.)X7AT-[!N2G(T)`U3@GVIVH;BME"7%)^WD=L`@+F
MFYHGK@GRV=VTT9Z!RXG7ZM1FF$*$IAB=14,L,*$8E5E$*DYFP"UV9"D@D\H7
M66:4`P(@Z$K%;UQ.5"Z_`U;?R93SZ*NN;IYDNK+@S!#/CUH\4=%O2O>*:V?+
M12GTN2YDL\^.\V3S)=67!E+=0>'7COYQ5$?6I%<T6V9VHSV'O/IEZ66.=+KX
M1.+'Q+Y(_/G&_*K#/?5?%%MM[OZX^F9%O1;>-?*?-YE?UDUCDV^,=SXD6&9/
MK1X,@7FAXZW*KX]5G]F>B,[L,Q]9\$<6^='J?VF6$=#O^('*'SDD7V>Z*RFU
M]Y+L]*+;+W<>WU,N$RLL&`,`8`P!@#`&`:JK>6T+:YV97;K"+';GY-81->KC
MAIH,M:T!JYZI*.M$F4+6F>.&Q1YW>N0E9(B$B4E3,6_3HM6/\39V]M4*\$TX
M5X\GW&=5E?T)M:=VI7<=3O*215"M1(Y.4[:8BPF@<918,01+4:1M?71W0IE;
MQ6<G,1%R=KCJ]R9?:>1MJ)8P/K6Y*0:I1Z_W[DX8(&`,`8`P!@#`(XN+P16G
M\G$X^C+I@%+U8^#:O?B/$_F%!F@H>+WOB9Q@@8`P!@#`/`S][,_F"_J[P"R;
MAWXH_%GS<J0^K.,9G-+Q>]\38W!`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P"(+XDD_B562-\K%E]O9D0KBZ)"DTW/#N-&V/$N86:42$IJC[-(WMS/BD5<
M'J4)V]KCDB6K#F<M.1'WL9FFM4)5[U?O80;&;HLN62[C0G9&25%LTC1+VR_6
MI\@4G[="GDJHW>6!"[RLN!,<-0O#;."(_%W;9$C8S6UY5N<4,KQ>\+U)M<!1
M7WX8;;Z:^W]OUVZ2+D]9]&2_C[":^C5)/Z2=M-M3QT/N6NY#8I;4]5*]4RBB
MJJ,(F2Q*_*:7$LVRG96<ZJ#7)62:A;_:[N`6E)BBR$,MM5I397[HXG/(CE4;
MO4:)TQ3>IZL").CVY0V98O(T532V"\<6%C'Q[E<F1O=15-*(#+`:JV84S"XW
M'W1Z?[6L+VXCB=EL%<$A":E3J$9[:WB3K=$]T$'+2SR*7UK713"FUZR(6G_8
MI.C62UC+*K7*>I:O,L%L4N^F?D)$9C'6=7+Z50Q%"VND::'-4C=4DD4EV<0^
M+2$`;$B;&[.+PZ.%+HVL4RB4UCS&PM4\>RWNNG!(4JE-99=3;_Y_O^F2<<X_
M>\?16D&^G)H='AZM)3(8@:PRQ?*65'$G."0/:MJ9-.<9BZZ/,#;.29H0Q1Q8
MD7K&YK[FVK>7H\X;NO!TT?M[^U"HM^Y*<(U;I<"5H?N294<M^2/AMB-;?2T=
M=6=U.*?9^^C-8%B^.@-7=C9$LW+BW&?)Y[LYLCS1!DJ=%`E#I'UW2A-JJBZ'
M+M8IT<DFKO\`.[5Q-V[#?H!)NBCO-\JUSD[Q`%W#7D'N-.$R1%-DE.2)ZUGB
M0\MT:4R!K0,PTJXA4D3LK2UM;(SHR$[8QMJ!H2HDA/)TKVGK:XG-_=?@:MOY
M,IY]%77-T\R75EP9@AGQZT>*.BWI7O%-;/EHI3Z7)<R6>?'>;)YDNK+@RENH
M/#KQW\XJB/K4BN:+;,[49[#WGTR]++'.EU\(G%CXE\D?GSC?E5AGOJOBBVV]
MW]<?3,BWHMO&OE/F\ROZR:QR;?&.Y\2+#,GUH\&0+S0\=;E5\>JS^S/1&=V&
M8^L^".+?.CU/[3+".AW_`!`Y0^<DB^SW164VOO)=GI1;9>[CV^IEPF5E@P!@
M#`&`<IW)OV1_>5"<BKRH^*=%W8=N1^G[7GE9-MEL=L2]&US0N#R5QC1SZE0M
MO&^3(D'=2EM/[<WD2!WT@4!-1C7GF$C'N:/4^XL4(45;6,7J=*KODB#?\*9Y
M*>1VMG]<$]_93Q1ZGW,G(L_G0[X_D/\`"F>2GD=K9_7!/?V4\4>I]S&19_.A
MWQ_(@<[V0#*C=]L#T(UME*BWV4R="L#R`N(Y0TR&9OJ"62)U:=+.-:E.WF+I
MHT,<[[D3D!;2)Y'X]-2$)<G8FIT2*/4^YDY,/G0_^='U=FZ[`D6*^R6+GA:I
MU7Q[H8[?(<7LEJ2.CFX7M:S\Z*6]C`L"RM7MF_\`&-S7DLS2-R=5+:S)U!34
MB7O+VXID9:]Z=%*M1ZGW,C(L_G0[X_D9G_A3/)3R.UL_K@GO[*>*/4^YC(L_
MG0[X_D/\*9Y*>1VMG]<$]_93Q1ZGW,9%G\Z'?'\CH"Z+GGI*.D2XZR"\)E0#
MOQJD$>MB25BLK1]E#C*W0L#%&87)DKZI7.L%KQ:DT[)9B5VEO,CX@@(3%*RU
MZD"P("(.)))W24EK6'DV60X.1@#`&`1Q<7@BM/Y.)Q]&73`*7JQ\&U>_$>)_
M,*#-!0\7O?$SC!`P!@#`&`>!G[V9_,%_5W@%DW#OQ1^+/FY4A]6<8S.:7B][
MXFQN"!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@%;?2ASF<06B((I@<SE<%
M<'Z[8O'G1WAK^Y1E[/938;8#N<W`>&=0D<DR8]P9FTY0%,I)V?I,$DT0B!FE
MCZ@DY13P;(DVH2:Q4:K!Z4L'=I*I^.5SWAODQQT:U]Z76^LTAMEK87UCDUJS
M>2L;NT+6*0F*$+@SOCTO;U)0C4Y!P-F)]C*.)+-*&`8-"RZTLX1C5*CJM+^[
M*;*TG.=)--9,GFQ6"JKTDS:+I>_#-Q(^3'E3]*N*F188RW+B=6WN_KCZ9D1=
M&/X[Z?S5+U^MWBSDV_P?5]CG_CX3WPX3(LZ1F'Q*4<WK<42:+1V1'HXG4J5&
M<^LC8[FI4PHF,\2=,8X)5`R"!'FFG;**$$O9IAAFP]F,6]K&*:E5)WZ4F3;2
ME'(R92C[+P;7Q/46(=#8UMC+2?(1J9FY"TM:/E*YA1MK8D3H$"0)_'KCHK/"
MF1I2RDY&CE2@]2;HHL.C%!YQP^LPP8A5VB2G))45URNT(L@V[.#;;='>W5Y\
MM+*1H_\`@X?]*O\`\_.6:;/,CN,EIGRWEUT'_(EV3YG'*/Z.6MF-XO>^)MA\
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M)2)BE#,;R7((+=HZ[M[VV&'I^/M%`/)`O;%"E*,T@?W!Q83=C+%]R/0=_!E5
MHTYR:=5=>K]"++--0BFFG?<U1XO670Y6=C`&`,`8!QLVRQVTKO'D:HCD9KI>
MRF<H.3G<*M[L:2LCH<$-_6,`[:MK053(DB005(3BR@DO*W1I`2CQB),-$G)M
MC7)5RTZ=NXKGDY5[DG2.$4_A6G*7`P?W-7M_(ZI?UMS'U'9U?J7>^1S2'2EX
M5^8]S5[?R.J7];<Q]1V+]2[WR%(=*7A7YCW-7M_(ZI?UMS'U'8OU+O?(4ATI
M>%?F/<U>W\CJE_6W,?4=B_4N]\A2'2EX5^8]S5[?R.J7];<Q]1V+]2[WR%(=
M*7A7YCW-7M_(ZI?UMS'U'8OU+O?(4ATI>%?F7S=#8ED*.C[^3RA$S-[R#E"Z
M;4I&!Y7/[86`?'_CR)/LAT<6&,JU`AD;+,."8S)=$FB&2`2@!85!M4LY]G`N
M5,F-+U1XJGQ2T5?$MXSD#`&`,`CBXO!%:?R<3CZ,NF`4O5CX-J]^(\3^84&:
M"AXO>^)G&"!@#`&`,`\#/WLS^8+^KO`+)N'?BC\6?-RI#ZLXQF<TO%[WQ-C<
M$#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$2-=ZU6^QR-RQ@E6I$P3&9/\!B
MJV.LLB?QR&419VDS+(4;0A9VE:XKD#2KATG/5/Y"0<>"SLZJ0A=!L&R7(T31
M_O[^X&AW2V>`2K/.&BGU=VIG=GGQWG$_=SZO]D5$\=O&EXN?+@P?,$GS1;9G
M:C/8>\^F7I9O1TO?AFXD?)CRI^E7%3*[#&6Y<2VV]W]<?3,B+HQ_'?3^:I>O
MUN\6<FW^#ZOL<_\`'PGOAPF8?S\\=BY?BU4GT-UDV&$MZX$?\C&'5?J9OWT/
M_@BY&^=,N^SEQNRJU]Y+L]*+;/W<-S]<BCB/_@X?]*O_`,_.6:;/,CN,MIGR
MWEUT'_(EV3YG'*/Z.6MF-XO>^)MA\/T_8H?NOP-6W\F4\^BKKFV>9+JRX,PP
MSX]:/%'1;TKWBFMGRT4I]+DN9+//CO-D\R75EP92W4'AUX[^<51'UJ17-%MF
M=J,]A[SZ9>EF_G3,RV*PV;\4G*7R:/Q5N417D>A(7R1Z;6-$>M,=^.R@M&2J
M<U*4@Q4,A,H.`G`8(T11!QF@;`4/8:;%I2=6E[+Q=-*+K9-V=R;]N."KHF1'
MT2$ZA$UY737<-F,5ENF[CU)-.&XS(6A^TAVJLBMNYM+-M2Q7W+M1V@_M';^P
M[=VDWM?9=K'U3;--QHT[M#J18IJ$JIKVEBFM#*N>EL_*,<FOZ0J+[/50Y989
MCZSX(FTQCU?[2+B?8]GBY<D_.G5?4)1656V?V([CFQW/U2+^<J)&`,`8`P#E
MK?ZDN>26->[W%GBL$S"NY.\IQ-Y#^FE8W<L)/(RT$Q^E@FX>D>Q"5$GB*[1K
MJ[G$5H?[IV>70S5V\65SIE/&M(Z%3-6T]3WB.0_^?Z8_V2<?\3)OV5W?[]SG
MV?Y4[.?V'O$<A_\`/],?[)./^)DW\[O]N\Q[/\MERYW^0]XCD/\`Y_IC_9)Q
M_P`3%_*[_;_(>S_+;<N=WF/>(Y#_`.?Z8_V2<?\`$R+]E=W^_<>S_*G9S^P]
MXCD/_G^F/]DG'_$R2/9UON7,>\1R'_S_`$Q_LDX_XF/W]O'L[>Y<RUKHK(_)
M8O7/(]DEJAC5/J3DZ>)6?'`+RV@8%''+CBI3=S@<][6:$%,<4$_MN^K9^C-E
M_N>PY3+.?9P1<LV-,*/U2+1<Y)&`,`8!'%Q>"*T_DXG'T9=,`I>K'P;5[\1X
MG\PH,T%#Q>]\3.,$#`&`,`8!X&?O9G\P7]7>`63<._%'XL^;E2'U9QC,YI>+
MWOB;&X(&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@$2WU8L:J*DK:M&9M4@?8E`
M*[E\LDK+$QI2Y.[,;&QK5[HW1XU:]1Q(4\K49)J=M-4R!D)*5F%&&.J`(=JB
M@.?QWY6\/6^%(XN[\=>;::IX$_/EBL4><7#C1*O<>YO3A:#U83@VOTEY!2N8
M$))`V6(8W$ELJU,^Q,J),#Q`G-BEYCH^.?;LII-N-RJW>M^LY5M%R24O:DTL
M)8MI+13]O+$>EL\`E6><-%/J[M3%GGQWB?NY]7^R*B>.WC2\7/EP8/F"3YHM
MLSM1GL/>?3+TLWHZ7OPS<2/DQY4_2KBIE=AC+<N);;>[^N/IF1%T8_COI_-4
MO7ZW>+.3;_!]7V.?^/A/?#A,P_GYX[%R_%JI/H;K)L,);UP(_P"1C#JOU,W[
MZ'_P1<C?.F7?9RXW95:^\EV>E%MG[N&Y^N11Q'_P</\`I5_^?G+--GF1W&6T
MSY;RZZ#_`)$NR?,XY1_1RULQO%[WQ-L/A^G[%#]U^!JV_DRGGT5=<VSS)=67
M!F&&?'K1XHZ+>E>\4UL^6BE/I<ES)9Y\=YLGF2ZLN#*6Z@\.O'?SBJ(^M2*Y
MHMLSM1GL/>?3+TLV)]D+_P`)X??ZCD+_`&E%Y589[ZKXHT3S/JCPD0+T!/C4
MW%YORCZQH9DV^,=SXD6>$M\>$C4KI;/RC')K^D*B^SU4.=V&8^L^"(M,8]7^
MTBXGV/9XN7)/SIU7U"45E5MG]B.XYL=S]4B_G*B1@#`&`,`HBBOX1MOSF>6G
MVG[=RZ&:NWBRJTSGNCZ49;G1P,`8`P!@#`-J^C\_!W*3SF4OV8.,^4SSGV<$
M7QS8[GZI%@N<DC`&`,`CBXO!%:?R<3CZ,NF`4O5CX-J]^(\3^84&:"AXO>^)
MG&"!@#`&`,`\#/WLS^8+^KO`+)N'?BC\6?-RI#ZLXQF<TO%[WQ-C<$#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8!7F\S5V9;)Y&IE<N:G-@F;.SL4"C*WD4.'DQ>
M7PMHM-S?G(YT36BY2&`-TPD"NN8@I'#4T+>$JKNH!E?E-L17R^4"="V;-W?I
M=]VT]WE<QZC/1FWO'?=DX6()CXCS1J-GSL\*G]SFRA#6RQ,IE:YY6.#JI<54
M@4%F.IJDQR6]D-5O0%!A>@"P0SFNL[P;6%\1Y9\PK\W3S)=67!F*S]Y9]>/J
M1T"=+9X!*L\X:*?5W:F9+//CO-<_=SZO]D5$\=O&EXN?+@P?,$GS1;9G:C/8
M>\^F7I9O1TO?AFXD?)CRI^E7%3*[#&6Y<2VV]W]<?3,B+HQ_'?3^:I>OUN\6
M<FW^#ZOL<_\`'PGOAPF8?S\\=BY?BU4GT-UDV&$MZX$?\C&'5?J9OWT/_@BY
M&^=,N^SEQNRJU]Y+L]*+;/W<-S]<BCB/_@X?]*O_`,_.6:;/,CN,MIGRWEUT
M'_(EV3YG'*/Z.6MF-XO>^)MA\/T_8H?NOP-6W\F4\^BKKFV>9+JRX,PPSX]:
M/%%ZO3HHD;CT>LB1N"1,N1GVK1X3TJP@I2F.#J>M(M!-(/`,HP.MZUOJ&'>N
MO6M_?UF2"K.*=ZJ;6Z)M7.CX'+KP5B44:^:W$M<V1F/-RTGD/5&B5B%E;4BH
MKMDO;"C.UJ$Z8LT';"AC+'V(]=F6,0!=81;UO1:1BH2I%+#!):4<0E)RHY2:
MI*YMOX67C^R%_P"$\/O]1R%_M*+RJPSWU7Q1U/,^J/"1`O0$^-3<7F_*/K&A
MF3;XQW/B19X2WQX2-2NEL_*,<FOZ0J+[/50YW89CZSX(BTQCU?[2+B?8]GBY
M<D_.G5?4)1656V?V([CFQW/U2+^<J)&`,`8`P"B**_A&V_.9Y:?:?MW+H9J[
M>+*K3.>Z/I1EN='`P!@#`&`,`VKZ/S\'<I/.92_9@XSY3/.?9P1?'-CN?JD6
M"YR2,`8`P".+B\$5I_)Q./HRZ8!2]6/@VKWXCQ/YA09H*'B][XF<8(&`,`8`
MP#P,_>S/Y@OZN\`LFX=^*/Q9\W*D/JSC&9S2\7O?$V-P0,`8`P!@#`&`,`TF
MF?+U-$R>09Q".OY"&G7^"1%BTS6(4-3(IK+W=:VN4$<$"YF;S$<MBJ$II>5A
M*$]:P+'!X70TZ1-+G"Y>YMHFF&WAKX]QL;4EBD6;3];6NI2I&(F>5U$IZK0A
M7F*T+)J1QQ`_*T6G18B:3%25K$K-3^V"EN;1'E$=TFHTG9[)+$.YM:C]BKAJ
M10RQ:2$6E7)T=G,D'#H2_E3>,F,LPEY9[LF,BL6=`.>T,@DA:EA?4XV-I/5N
M83V5V*$ET8W+`DA1ZB1L`8`P!@#`&`<:,GB45767>RM;&8^L5G\F.4`SU2IF
M;E"@X??#69KLC3CDPS#!=6M:[(8M[ZM:UU]6LUV261&Y:=&UF2U;_P"R5[T:
M?XHNF3%@*Z#,PHH`"RR^C]7%EEEAT`!8`5.>$```#K00@"'6@A"'6M!UK6M:
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MI1;9^[AN?KD<][?<M0-`5[6[6K6S6YM[[)$:]N<9S&$2]"K(D+F6>E6(U+H4
MH3*"3`B+-(.+`:6,.PC#H6MZS1"45"*<HITP;2*)V<W.34)M5Z+Y%\D)7)UO
M0:66Y-:XA2E5\)N4JUN<4)R=6F/(/B=K'I5J,\/;TJDDP`BSR#==N(.!L(M=
ML+%\.1XO>S5%4R4[G[/V.0.QK3N957L[2K+<DRM&IALH(5)38U5A9:E,<R+B
MSTYAB6O$ZDL!Q0A%C&G4$'@"+8B3BC-!&'7)/)E[4LU]'5U2F*AE1]B.<M,]
M?7.PWIQ/R?K[\J]'_3QJS-9Y\=Y:\'N?`YC>$?CF<4/.'J3Z9M6:;7W<NSU(
MKL\Y;I>EETWLA?\`A/#[_4<A?[2B\IL,]]5\4=SS/JCPD0+T!/C4W%YORCZQ
MH9DV^,=SXD6>$M\>$C4KI;/RC')K^D*B^SU4.=V&8^L^"(M,8]7^TBXGV/9X
MN7)/SIU7U"45E5MG]B.XYL=S]4B_G*B1@#`&`,`HBBOX1MOSF>6GVG[=RZ&:
MNWBRJTSGNCZ49;G1P,`8`P!@#`-J^C\_!W*3SF4OV8.,^4SSGV<$7QS8[GZI
M%@N<DC`&`,`CBXO!%:?R<3CZ,NF`4O5CX-J]^(\3^84&:"AXO>^)G&"!@#`&
M`,`\#/WLS^8+^KO`+)N'?BC\6?-RI#ZLXQF<TO%[WQ-C<$#`&`,`8`P!@#`.
M6U?S-Y5OLBD#V*WTR$])++":&PI/4=&*_:IH!*'9DVW)%[Q6;F\&$'M;<D2K
M1K')4H7@*_Y:<?U[R^-BI13J[T4RMW%N.1%TVRO\RZOC9R!>W7@JCY#7)(35
M;A&(1<4GFDG:H\UE+!,]72:>H3'9+&FA*WM!SD5'HJ2HVVH$:-&M7`$64G(`
M?HL-+N;6TNQIM2?>D_N5Q).85`J8Q#(+*))?06F,39BF:&=`I-B99NDG[O+)
MN[V!8>Y0VV`M-CS_`#HZ=;1.RQ@9]H6QM,EB=`RB;I.4U,<N$TJN+21"G%NB
MDFW<EKU)57'9I+H>0!<Z/J":):S9I0^SM:B1(8RBATD8(D^$.*UV0)0.X7Z2
MO+`V)6MA+-,>W].%T(<W-A;W)J9"U3PM0I3N3I8D9M)UT/5PU0]I&ZQ&^O&N
M)S&*6@"7DPI@0NKZT*7MK;9,%J:YT\JE#@Y/S(D7(4['7Z)K<8W(&J0-5F)6
MA"XPJ3AVZOW]TZ-)F5Z6#+(*?52>(=D)3*[2B;"^Z/K^4RYE(A8G1(IG3@^R
M*/*DZ2ORT$.*?#&!^>RE:)7,AQIO4$>U1CN8`$L3YU0VN^V395IITIIR^K&I
MBK)QK]W65M,X0H<5\G:GE\D/M>]R0SVNFT<*8UD%-0O+4B;3$TA52QG4IQ!:
MRM$!QO\`W7WGYV"XV6TW=`W9CBUFN%;M496ZEJ^,.4+<XW('I^7J6&/1`4)<
MI,WR9*L;URI)+Y%80&G2%A;FN/M:=R]HG6Q5#*&A_O;7RII[$?2X^H+7;VZR
M@6II_`%3:CPMKPF3+(^K=R*^51>'C3$J`1Z73PE)H,M]U^P)U<L<#3.O:UM;
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MJC.,]H5^NWGHHX^M:10HV'00;4G$F*-E@++V9VLL`0K%)J6..B37!HFTPA=%
MW/&,9:7K3+=/8_IBLWBA>(UKF].ZC?+&3Z&O?WMWD3H;K5$<>M`">ZOBUP<C
MPE!ZBR0'*C`D$A`23H!0``#7:*DY+=BV]"TNK)6;'!7/!)+.EH5$<K<M_'.<
M_'R<?2QXS39YD=Q5/.?9P1UBU'^0-E?F$<C_`*!6?F-XO>^)>L5O7$X[K`_$
M.;?%&2?,RW-L\R75EP91#/CUH\4=G_3B_D_7WY5Z/^GC5F2SSX[RUX/<^!S&
M\(_',XH></4GTS:LTVONY=GJ179YRW2]++IO9"_\)X??ZCD+_:47E-AGOJOB
MCN>9]4>$B!>@)\:FXO-^4?6-#,FWQCN?$BSPEOCPD:E=+9^48Y-?TA47V>JA
MSNPS'UGP1%IC'J_VD7$^Q[/%RY)^=.J^H2BLJML_L1W'-CN?JD7\Y42,`8`P
M!@%$45_"-M^<SRT^T_;N70S5V\656F<]T?2C+<Z.!@#`&`,`8!M7T?GX.Y2>
M<RE^S!QGRF><^S@B^.;'<_5(L%SDD8`P!@$<7%X(K3^3B<?1ETP"EZL?!M7O
MQ'B?S"@S04/%[WQ,XP0,`8`P!@'@9^]F?S!?U=X!9-P[\4?BSYN5(?5G&,SF
MEXO>^)L;@@8`P!@#`&`,`8!QKH?X1)/CY8WT^DF;;/,CN,5IGRWET55_D8K9
M\W7FG\[7AF-XO>^)NCC#=#@BE&1_@@__`+PW?.23-EIF2W&*R]Y#K(N\Z9-F
M9Y#1U!-#^TMKXTJ^4#5W6UNZ%*Y-RGN>@>0JDCNA$M*.3'=I4DDJ"NV%"[6>
M44:#L3"PBUFLTG.*:JK[G?H9JFVK.;3:=%>G1Y\=**G.&5>0"+\X>'[G&H-#
MXZY;M*=)MN#%&65H7;3'<;[UV:GVK;T2<_9!NRP;,*[9VL>P`V(.]AUU6VT8
MJ*HDO:6"2T,IL9SE)J4I-9.#DVL5K98OTI]B63&;JHN-1"S;-@K$Y5;9KVZ-
MM?V--8`0ZNJ"65^@0K'7<-?6,US,1HUZXA*%<8H+3@5J-D@`(T8MUV48R;RE
M6BUM<"RUG*$4XNCRDL$]#UIF+]&A9-GOO)]XBLHM2U9K'%="SV0&,L_LZ>3]
MO*>V.PJ=;6MT0IYG('T#:L3()(]I-G-_<HE!"\P"GMVBR.U3:PC')R52M:WM
MX4ULBRG*:EE-.CC2Y+'*K@EJ1J#S\@4%EG-SD<OE,+B<E7)GRLD*=;((XSO*
MLA$"AJH4@1DJ7%&I.*2@4*E)X4X!A*"<H/-T#0SC!"[L8Q<75)^T\4GH1S;3
ME&45&4DLBM$VOBEJ98'T,3`Q1J'\GFJ.,K2P-8+FC!X&UD;D;4@`>?4D)V<<
M%&A)(3A-.V$.S3-%Z&9L.MCWOJUE5HDIR25%=<KM"++-MPBVVW?>W5XO65,/
MOA#O'SEN4'VA[-S19>[CV^IF:U]Y+L]*+=G4\]-T#SZI2F:)4I^CN?CTYH@!
M-T6>33ZTPH>RQ?<F:`,(1;`+[D6M=COX-YE>=]7W-JQ6]')H^W/<[FR/#:Y3
M9M4MS@U.")P3`A[.G&H1*TAQ"H@"@L>S"!&D&&%A.!K8RMBT,/W0=9JDI9,O
M:^%Z%J,\(PRXT3KE1^+:MAU=]/%XEL8\X*O?HW/LSV7O(]OI9=+-EN7JB<ZG
M1W^/KQ%^6$GZ'R[+[;,[4<66<^K+@6M>R(/Q[X2_%+E7\\<7\JL,]]5\4=3S
M/JCPD:Z=`[X^$K\T>V_KDXU9U;_!]7V(L\);X\)$;]-!^4)L7Y-:A^87#)L,
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M^"(M,8]7^TBXGV/9XN7)/SIU7U"45E5MG]B.XYL=S]4B_G*B1@#`&`,`HBBO
MX1MOSF>6GVG[=RZ&:NWBRJTSGNCZ49;G1P,`8`P!@#`-J^C\_!W*3SF4OV8.
M,^4SSGV<$7QS8[GZI%@N<DC`&`,`CBXO!%:?R<3CZ,NF`4O5CX-J]^(\3^84
M&:"AXO>^)G&"!@#`&`,`\#/WLS^8+^KO`+)N'?BC\6?-RI#ZLXQF<TO%[WQ-
MC<$#`&`,`8`P!@#`.#]YY/QR+2F>QQ5`+(<%#+9=G-YRUM+@&T"HQ/8$E`(Y
M)MPL!O6[('O767M4B2G=7_7)!OX,UP;R(^S)W8^S]Y)F:=FW.3RHX_R_$Z)*
M-=BG_H1K`?2$RI$0]<8>8;L2D7:3:6I2G%7=2LM.KTC4K4FE)(#@EGZ2K%2?
M1H1:)4'%]B8+*\7O9K2HXK5D+R13/(_P0?\`]X;OG))FRTS);C#9>\AUD7G=
M+WX'^/7G0(/L]<BLS67O(]OI9IM/=SW+UQ*NN)WCJ</OE9FWV;KXRZWS%UEP
M9189[ZKXHVXZ6CQA^/\`\C%L?3BL\XL,9;EQ++?,767!F*=%_P"-^N\VVT_K
M/H')M_@^K[$?\?">^'"9#_-WQT>2GQFK7[/]09U89CZSX(YM\Z/4_M,WMZ'W
M\7N4/RPQ/ZHX7E-K[R79Z46V7NX]OJ9ROWS(IHCY%\GTS=8,[:T1/*GE`!,W
MMLG<$:%*7J_K%WVM,F+'H!0.RWL6PA^#LA"W]_>7V<?8C?)7:&)TRG[,7=&]
MQOS4=/Q0C!^Q^E`SC33S1]&FX#-//'LTXXP=(*1#--,%]T888+>Q#'OX1"WO
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M_P`)X??ZCD+_`&E%Y389[ZKXH[GF?5'A(@7H"?&IN+S?E'UC0S)M\8[GQ(L\
M);X\)&I72V?E&.37](5%]GJH<[L,Q]9\$1:8QZO]I%Q/L>SQ<N2?G3JOJ$HK
M*K;/[$=QS8[GZI%_.5$C`&`,`8!3!6W&*+V`5:4O<;`M]G6/')SE^(YMC4WT
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M)@%%=8NP[+=4LY]G`N5\8Z+GAUI&^6<@8`P!@$<7'X(K4^'J_P"CB<?#K^+_
M`)L.GP_#UZ_\];P"IRK>'BU965=*]<H^1:72J"1%3I,G;>,>TZ?M\?;S>T$;
M4\;5*G9)79=K*VH4'G[`$/;3C3.R&*Y5:3J\-G(J;57[$<7IE^1G?>9KOTJN
M2/\`NSBY^S-DT>M^7(C*70CWS_(=YFN_2JY(_P"[.+G[,V*/6_+D,I="/?/\
MAWF:[]*KDC_NSBY^S-BCUORY#*70CWS_`"'>9KOTJN2/^[.+G[,V*/6_+D,I
M="/?/\AWF:[]*KDC_NSBY^S-BCUORY#*70CWS_(\#>&B[19F^^IY([Z@#WU;
M;.+O_P"W?^3C/K>*/6_+D,I="/?/\C>7AWXHW%GX>O\`^[E2'P[_`(_^C*,?
M#\'5K_RUK*"]XO>^)L;@@8`P!@#`&`,`8!_G+6-X3[9^5VU_K$DN;;/,CN*9
MYS[.".K#CIK6^@@E>MZZ];XA<M-;UO[V];)N76];_P!.8WB][XFCXE]/!')%
M%(^R$R^&'%-B0LTN:0\98PE]0@##)6O81:WU_!O6_AUO_+FJ<8J$KM&TIA)N
M<4WIV'6CT^3@[M?%*EUS$\N+`YD\J(OHAT:AIP+2`F4C?A1P2A*TRLCL3B1C
M),[,@>]EC%V.PBZA:HL[YQT8X;F=RS955;E<^M$HLZ,N4SMXZ1?ATCD,_E4B
M;O?`LDW;:[G-(T>SB^-UX=J.V%&THSNV%=8NPWH[0?NM]D$7P=5MK'V*U;O6
M+.+-*LJ12]G1UH[2Q;I])7,(I>'%I1$)0OC!ZRJ;E)6&H6Z-N(E1)<OK`998
MP2-B?"B]`&+8M"3%D&;W\`QB#]SG%BJN5[5VBGW3)M$G&]5O6O4]31@7073"
M:RSE_8'NPEKC*.X.-LS]K^[VR+MW<7=5GTYW5VKW-Q]C[=W1W.F[/NSNKM?:
M`]H[3V9W;9MDUDWMXXTV:DA9I)2HDKXZ[[I:VS67I;I--F7I"N0"6-SJ3QE"
M874Z@U`RG-9:4U4*E:[+&K&%:UKC>WF%%$%#V$T)>P$%]1>A:$(75BJQ=[7M
M/![$1:4K&L4_9T]:6TM7]C\.CX[TYR=62%^=)&X[OMF+VY/`THUFR05'`^U$
M=DC2(R>U%=8NPUVGLONA=D(7P=55JJ3>+N6.XZC3)5$ECAO9S?7_`.,ARB\Z
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M*,D^9EN;9YDNK+@RB&?'K1XH[/\`IQ?R?K[\J]'_`$\:LR6>?'>6O![GP.8W
MA'XYG%#SAZD^F;5FFU]W+L]2*[/.6Z7I9=-[(7_A/#[_`%'(7^THO*;#/?5?
M%'<\SZH\)$"]`3XU-Q>;\H^L:&9-OC'<^)%GA+?'A(U*Z6S\HQR:_I"HOL]5
M#G=AF/K/@B+3&/5_M(N)]CV>+ER3\Z=5]0E%95;9_8CN.;'<_5(OYRHD8!#4
MU8^0BY].45U9]-1:,B3I@D-$UHB;SY]+5!+ZE9QTB8^1E;-YZ<\W[M,F!%DY
MB4O]S-5K!?NN";M->_\`QF)^Y?E[^?+C=Z*EG?MDX%VI]ZY#W+\O?SY<;O14
ML[]LG`NU/O7(@J&\8N4\(;GEK:>1_']0E>I]:-A'"<>)EBFGDN=K65++/>T1
M9B;F4D+V@;WF7KT#7H1.U`&Q,D`K/5*@G*CNE-I4N.7&,G5Y6C2M"IT=AEGO
M)\NOTB../HD6;^VGDY;V>?,C(A_+Q+\1[R?+K](CCCZ)%F_MIXRWL\^8R(?R
M\2_$>\GRZ_2(XX^B19O[:>,M[//F,B'\O$OQ'O)\NOTB../HD6;^VGC+>SSY
MC(A_+Q+\1[R?+K](CCCZ)%F_MIXRWL\^8R(?R\2_$>\GRZ_2(XX^B19O[:>,
MM[//F,B'\O$OQ/PK>A>5-;.%FNC=R$X_.*JTY\CL%["MXIV,`A`YHJUKNL"D
M3661S%"8!`)FK=H7&:5G*U&W-:XC">!*),E3<MU;;.U1)*CNVK6WJVDH>Y?E
M[^?+C=Z*EG?MDY`NU/O7(>Y?E[^?+C=Z*EG?MDX%VI]ZY#W+\O?SY<;O14L[
M]LG`NU/O7(>Y?E[^?+C=Z*EG?MDX%VI]ZY'PY/7/+251J0QA;?''5.CDC&[,
M*L]+Q5LO2DA,\(%#>><GV;S&-*T>64H&,G9I1A>C`A[,`P]8=A=J?>N1'<:X
M[\JXO'&",HN17'P]''61J8DAZKB=8XE)R9H0D-Y!JD17,DHH1YA2<`SME%%%
M[,V+8"P!Z@Z[4VKKOWM.'"+O]KO7XGV_>4Y:?I"\=?1-LO\`;-QEO9Y\QD0_
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MD>V@C7*\M<B,=+IX\K&PM6F&XI$'&&R6U<J0A.`)6F1.*CETZIT"L]/HPI,M
M/:W(E*<(!YJ!8`L2<P+M3[_\-AL$#`&`,`8!B4V1SM>Q&)ZYDD2BLEVI3B*=
MIM"GB?L0$81;VK(,CK%/ZU7FJ3P=B%.K#*"BDHM;$:C6:%H`0.=5]]C[2U^D
M$DD2CF='254FDLCE"L@GB^Y=H(625[7OJM.G[/DJ(S28A2X&E)M&C,-T0`O1
MIAAG9#%:K644DE&BV/F0XQ;K[7>OQ+%H/P<Y"0/A^X<,VWDM32R`N59V15YT
MG7<69ON7@9[,#*`O"\HTCEH2RZ<D/NK6[;1":!)0]SI>ZDRGJ-[;4[[SNJJG
M1W4TZNPKA;_8]LJ;G)K<B^:$?&:U.C8ZDECXON/:S#FM>G7DEF=CR4T+M1AJ
M<`#.Q$$?:Q"[$01=0M6NUE)--1H]CYG"C&+3655;5^)8KS,X)<@N;-;1>LK!
MY,4Y%6B*6&W6.A7PWBS-BG%0[-L5F,2*1*MO?+-X3";C$,T<%!@24Y2GNM*B
M$%0$D)Y)W$9.+4EBM>U4.G1IJCOVK6GJV&GO'WH1;%X[7G6%\Q;E_"WN2U6\
M/STRM#_Q=?!L;@HD$%ED!5%.@&[D\A7B));)>O6$:2+4H]+TR01@S$^CB#NI
M6LI*C2ILKS(BHQK12O5,5K3Z.PF[FIT75S\X9774NL/E36$475K'I5'&E/"^
M+<K*2+DDL<H^YK3G'3YRJ>#A*$YT=2`2[3')RM%'J-'%FBV6(N(3<*M4OU_^
MH-1=S3[U^)\7AST3UO\`"VS'ZT8!RNK:4O,@@KC`5*"8<6Y.8V$MCG((U(CE
MA`67E.TJN[P*HNB)*$8I&GTG/5:&0(S91A2<W.E:75PKIIM>H)1BFDI7TTK1
M7^.TP7DST,-F\HKMF5YS#EU!(_(YJ7&P.+3&N+L@`R)=1F+,L31[1`=.4+BN
M#V]"QIE"GMZT[K5FG[*[63LLH$PM)05$EC6^O-:A)1E2JE<J7-:V^CM-CN%7
M1[WUP=BD^B5=\G:BEB*PIDFFKHIFG%F9FJD3@EC3/&`)6_;'RQ9R0HQ(V5.>
M+2@I0?W2:=O1VBM@*!S*3DZNE=@2BE2C[U^)HY-.@&F,VG5@SUPYEQE(Y6+8
ME@62ZHT?%YT[A1.UB3)[FKJA;]'<ES3PMR)Q?5*5O"I.4*0HBB`J5"@_1AQG
M:M91224:+8^9#C&3J\K1I6A4Z.PL'!P=Y"@X7BX1:Y*TSNO!T,=Q^W*M\69O
M[L_<P=$AP\3QHWOM/:/V^T@'M2$?M-[7]UZUO:'9/[EE=;Z[:G=4G6C[UR*T
M3O8[LE/)-('S38]`.+,*%L/%]?H6@F!V`6P[WR3WK0M:WOJZ];UU_?UO[V6.
MVDTU2-Z:P>GM.%&*:=)7-/.6CZ2S/F%PBY#\S:J05-/N2E,1AD;IHRS<EQB'
M%F<%.@W%C0O*!.E,$]<M79)M$:4]*!G!"F"?LPHG99P`Z&$?$9.+4EBM>U4.
MG1IJCOVK6GJV&D%(]!M8%%W'6MT1WF%#G=_K"3AE+.UO7%U[$SKUH&QR:M)W
M(*'DXC6B2]I<SC-Z2JTQO;2ROW7L-""+J5K*2HTJ;*\R(J,75*6#5[6GZ38O
MFWT9-V<Z'>J'FQN4U61)143;8C8QEPKBU+2B7(FR55?JG<;MI]Y6/(Q&H1UV
MU!;MHQI0!`M<.Z0*-B3;3\PFX.JIA2_]6H-1:HT\4\5HK_':8/P]Z(ZVN&5P
M.-S0+EC74H?W*M9)6)K9+^+DE,9RV>3RB"2I8O+`S<I6E;[9$+8`UITPA+!)
M=)5B_1J8TT2<U/,YN=*TNKA733:]02C&J2=]-*T5_CM/A<I^AOM'EC=3W>,U
MY;P&.R)]88S'U+3%^+DB`RE)HNC.1(SB`.W*)S7:/4%GB$IV8L,+V/6ME`*#
MUAVA:.%4DK]=>:$E&5*IW:FM_1-EN&'`[D#PCKB6UI7O)BG94TS"QW"RUZ^9
M\69J:XIG=QB$*AIJ%'MDY9LZ8+:!O@S:I+"<G.5=V*UPA*1$"()(B4G)N3Q>
MK8J$JB25'=M6MO5M*[W/V/?*G-U=W8WFA'RSGAX=WH\HOB^Y=J*4/#DJ<SRB
MNRY*;%VDHY4,LKLQ"'VL(>S&,76+?:M91224:+8^9RXQ;K[7>OQ+'HUP=Y"Q
MCANX\*T?)6F5%?.5.3FECI0IXLS?<R!'YZSO[*YNA9I7+0MDT\)$\A5&H1B9
MQ(@G$I]J$9X-&`,J=]YVFDTZ.[:N16&\^QSI"]L[JS*>:S,4G=VU<V'FD<8%
MVCBR5Z4U(:,G9G)$P&C0`-$(O8P#!H>M=D`6NO6[7;2::I&]-8/3VG"C%-/V
MKFGBM'TEIW+;ACR+Y@TNLI&=<DJ5C4>62.)24;K$N+$Z+>0+(>\)WI`0`3QR
MW=4/<RE0F`4KUM'LW9(A:),*'U#U6GDM-8HZ='=1]ZY&@=3=!-.ZAM*N;78^
M8L2<GJM)M&YRTMSKQ>>!-:YRC+HG=D:1Q"DY-)58D)YZ8!:D*92G/V4(6BCR
MA]0]=RM923BU&CU5T.NLY48Q=5E:=*TJG1VFU7-?HVKQYR#K(RQ.4=4Q,56A
MFH&;W%\6I>5IPU.=Q$3E[9Z?.5KSL6TFX<W]P[2[3:#I2L[?H_LB=D\QDX.J
MIA2_LVK42U%JC3Q3Q6BO\=IAW#7HIKAX4V'*+(K_`)6UK*7:50L<(6(ICQ;E
M!C<G;AOC6_;5)@LG*AH4Z6]TM)!.A&J#".T&&ZV3LS8!@F<W.C=+M7_K"48U
M23OII6BO\=I&W)/H6+*Y-WC/KWEW+R#,,DL(Z-'NC1'.+K^!C1BB\*C4&1Z;
MP.?*!P7A"H;8NC5J=*%JC>UIZH16RR-E$%3"TE!426-;Z\UJ$E&5*J5RIBM;
M?1VFWW`'@3:G!)EE,,0<@Z_LN"SJR%%D2M&LX_2.*2P2\Z#Q:$EMT>DI/(:0
M,[0C+(A[0O&8Y0Z0'&FFN)`=E`4)C$7,I.3JZ5V"Y)))W85>UO4M99YG(&`,
M`8`P!@#`/$6]A"(6@B'O0=[T`/8Z$+>M=>@AV,00=D+[VNR$$/7O[H6M=>\`
MTU8N9K"^R1NB9%4V3I]7'/[?M*4KKE01M[:@7^:UM:!T#/`,SH"1:XU66F1O
M"9Q"RH7#<=3.:]*2XN*MF$T_>[FB2*UY$QZS)8QQ-!&)0RFR:G8Q=4?<GH+,
M4A<HS(T\?.-1DA2NJE48Z,ITF:T;H!*0J2I%/;>ZU*0A6P'/H-4[Z?O[]S83
M!`P!@#`&`,`8`P!@#`,>EC][EHR^R3:/2\#&V*W0Y,)S9V0G:=&4(]2>J>)`
MO;&9K0I"`&*UZ]P7$D)$9!Y_[J,`"3`-,%7/>%HXLY3!555L(VEN@ZR?")<4
M</0.OM7&FRMG&PV]<V'2[9[(\011:L487(I\]KVY6]^VQJ9S#&6I3)<$TVK&
MG'D;,5K;+;9+U:<?3L+Y'G.J)Z9!'@A\]K`B=#-L+-(4+^T`0."PX;&XHWHL
MA*J5E)=FK4+D02$X"41NQ%,-MY+&`,`8`P!@#`&`,`8`P!@$(6!>C#7LZB4'
M7L$B=#)&9&PN;XUZ9_:J)ES6<LE:0PYV)7NR%V7ZD,V?T;6$$>;G<34E)6NK
MSI`C+3"5A0F_`,`:K!1NEF32K],;ZB<X5$*_FASXL]I=Q]\:K$<[`:&XED$C
M>5CUI:TKJY>BGHMZ968D.E388U'NI1JD:0-O[HYF?X!&U;V2FL?4VT3&Y!&C
MX+.G*!.)+\;'%13BXMC.PO*A>R.,6?Y&U+VXD+^4S+_^7%+VF3M,BCKFA2KV
M90$0&<.[A[4M+HZ]QJ7#VL;EKAW`B$C`L7=Q)C5/<:0;BK0-X%*GM?:2!+ER
M)&$T8-J5:<G0S@`874UEL]OU]'[$84#HUMD@"YA+;GKVNTZ(5+,\N+"XI5NF
MEP=4&C2'%K5E]B2N.$$`0Z/"G4:-3%!@8_?]Y0OCA4LPN">!<E3%$6TY;[3,
M>FPR12)<$L8TK%'4[RZ,K6>ZK>UF#")Q=FUL0(R%CJ[N+<T-Z]>F$I5="823
MBE!)2@@PLX@\LLXDXH83"C2C0Z&6868#8@#+&`6A`&`6PB#O0@[WK>MX((HG
M-OM4!GU705WCDH/*M(Z0HT<V2I6PF!Q=T93XTD:V*6O[DZH.X)!-UTF(0P1E
M1)7%PDJMK>B$A&C4(0'`2W@$,1^\XA)+EFU(($SN7*(&WEK'5>M+;TK.O4Z9
MH)(7!M8=C<=NKNH8F6S8(M?E*=KTW-.Y.T)52P"E>D*/#]_>XF?`(LKZS#9W
M([0CAD1>HZ95\L11!<XN"YA7-SVXKH\U2POVJ&T.BY27LB.R"..*PIP3(]I]
MOB9%H1J](ZI4`:MO_AGK^\IHZQ/4@6@-,1L32Y/*LL@28!QB9L1G+3P$C6J4
M:,!HBB!A+$K5I4P1[UL]205H9H0(RH6Z&'D!6+-:$;:7EC:WAPD;8%JD`$A+
MPC51F1.D;6Z6)DBI5W+V]4U&J4Y"ON9>%(>G$L1)#AB)"):HZ'M75;3;2<"6
MSUV87J0H42YN0FHV4QG2")VXJ-)PK7)UD+FS,+*UD;WU'.+LYI$W=!B5$6,Q
M8M2DF"$JF>QF0MTMC<?E;1L\33)F-ID+6)40-,I$W/2!.Y(MJ$QGW:<_:925
MLT@?W91G9%B^$.\`A&?\B6Z"3%_@7N!FD@DK:WUBLCZ=K40U,BFBBSW.PV]$
M@95SM*V\+:;'2JRDB^0'2DM@3"3!2%,1CVK4`3[$T_=U.9,L,E;3/(?$YRP"
M4"8IG&F*5LHE9&TRL33(FM*[MHE2;8A[3J-HUA.SB-B%LHSLB]BWV/7L01&'
MD$U^Z\V''06;)E2>]14,J<CC(:)N2O1M1-ER-4J-TFERA>.*OL<=D2)M[E0J
M9&G=#>U/D?9B`''E":<*_8GXP0@%F#"6,X0`"$$HO9>C#1!#O>BR]FF%%:&/
M>NQ#LTTLO0MZ[,P`>L6A!KU!>0[?.GRN&9-`IDSZLB,S60I%#FIAJ@R.FP&0
M#CLB;)(WL<J>%R<*1PVA2B?VTISBXW![8FQ.]*%CAL!`FGV\_P!_;R2+6L%+
M4]:SFS5[$]R1M@,8=Y:ZL\<$S!>5+0Q)#'%V.1>W[NQ-8Q(&TA4XG%'.92@Y
M,D.*;R%SB-(@4B%?<?'AELMTRL2T:U`POC,]5:&**7!2Z>UND3TV3(4E*9G)
MHTE7J%NTYIL3=MB,4I"4NRAI2B59KJ2^M3&%+J_MQ#CIR]CK+/S*\<*YGH'0
MBQ00$]Q3*(0M9PEJ931<*1R$I6FEQFSDPY'R)K=.N9]%!?FA&.0*'%O)4-)"
M%Q$TY\>3/;AW,&N)C8]<U.4U2!EGMA--ANXXZ\*XAIPAX*^DLJBPT<C*;)2Y
MZ6*I(X0.=&,9L1')VPM+$W(]X<6LM4RB=0H[]E->FFS:;88(&`,`8`P!@#`/
M`PL!I8RC0!,*-`(LPL>M"`,`P[",`@[Z]""(.]A%K>NK>M[UO`(;:>.=!L)#
M6F9*:K1I(9(^IBC,4WPUA2!:8RK0NK6<PMO:$0-H6KVK?GYM)0I=E$)FY^?4
M*8!25Y<RE0FKUO7B9+$:EJ^`K"7"$U]#HHN3,""*)EC!'FMK4I8RV)VY(@8$
MIR-,48F9TR5G9DQ;>0(M+VAG:"A%"`UH`IQ!(6`,`8`P!@#`&`,`8`P#'Y5%
M(S.8\ZQ*9,#/*8N^)NXWF/O[>E=6=U2=L`;W,O;UI9R543VTLLSM9Q8P]F``
MNKK#K>@([4<>*'5A=`JZ<K55I\3-2)[[IAC`>)X1LC8G9&M&ZB-0C$X)4K(D
M3,O<ZO9Q)S.G):U`#4!84^A-7K?>9Y&X1#H<8]G1.+L,<.DKJ8^2$UE:T;<:
M]O!I8"1N+H8E)+&M5]I++(`:H$8(H@L!)78%`"#0@RC`&`,`8`P!@#`&`,`8
M`P#$GF!0B1R&-2U_B$;>I3#1+11.1.C*WKWJ-[<NY^[]LCDI3F*VWNL2-(,_
MN0TKMAJ5,:+K,(*$`#+<`Q5-!XDCF3I825A;R)L]L;=&7>2EEBTZ.#`SJE2U
MJ:%1W9]1J%M6+EZE"2(/8I3UZ\PGL!+56S0,JP##X37\+KAK5,D%C;9%FA:[
M.#ZI;6@G:9&8[.INCW)=I/V0BRCEQ^MJ%/:@@`:H&:>(.S331C`R-R;D+PW+
MVAT2DKFQT1*FYQ1*`]FG6(5Q!B96E/!_\Y*A.:84:'_Y@#%K^/`/GQJ,1Z',
MJ..19G0,+&@VJ&E;6U.!,F+.7K%#BX*AA!KLCEKDY*UCFYKCQ&+')R5JW!<>
M>L4GG&`>,HBD9F["YQ:8Q]FE,;>D:EO=V)_;DCLTN*%8G-2JDJQ"M*.3GDGI
MSC23`#+WH19@P_>%O`/ME%%$%%D$%EDDDE@*))*`$LHHHL.@%EEE@UH`"P`U
MH(`!UH(0ZT$.M:UK6`8T^0B(R9WCK[((\UO+M$E9CA&UCBE`J&SKS-DBTN1E
MF]D2!:2,@DY(J$6(]">6%0C,(.UVS`,IP##TE?P=!,G*Q$4484LY>&_;4Z2L
MAM3%OBYO$!G*.3*'`)>CQA5$1R-)EH]B[:N2QF-)5@ST\>9BT0&88!\QJ96=
MC*5$,S6@:B5SFYO2TIO2$)`*WAZ6G.+NZ*0D`!H]>Y+U!ZQ<K-[(]2H-&::,
M0M[W@'[N+<WN[>N:79"C=&MT1J6YR;7%,2M;W%O6DC3+$*Y&I`:G5HU:<TQ.
MI3*"S"3R3!E&@&6,0=@?'BD/BD%9BH[#(ZS19B(4*U9;4Q-Z9L0Z5N"DQ8O5
MB3I2RP#5+59QJE6I'H1ZD\P9IQ@QBV+`/.4Q*,3AD61J8Q]HE$><=%A<&-]0
M)G1J7EEF!-"2M0*RS4RH@0@Z":0>682>5L9!Q9A)AA8@/O@``L`2RPA`6`(0
M```.@@``.M!"$(0ZT$(0AUK00ZUK6M:UK6NK`(QE%)T_-G-Z>9C6,%E#M(VE
MF87YQ?XPT.RQX98ZZ>WC`UN)ZU*<8K0LCSL3JTISA"+;W`9JM*$H\TP8@J]9
M)29,G1IR$B0@E*D2DE)DJ5,4`A.F3D`"420024$)9)))80EE%%A"`L`0@`'0
M=:U@$9CI"GC7HV1F5E"!OY\W2V6<\CCC6)R-L)"W@:$<U,6;3]O'*$K244UI
MWH0]KRFTHM``_24`2M!7D2@,`#0#+,"$99@1`&`6NL(P#UL(@BUOX-A$'>];
MUO[^MX!%L3HVFX&\(I!"JO@L4?&UG''D+O'XRU-3BE8C'9^?AM!2M&F)/"W;
M>I3)7;2/L]D!<7]X6!!H]Q5F&A5ZS,I;$8M/8V\0Z;1YGE<4D",3>^QR0-Z9
MU97A`,0!F(G-M6%FI5J0P0`=M3J"C"3=:[$P`@[WK8'I1J`0>&KGISBD1CL=
M<I()%M_<&=H1-ZUYTW"6C;P.2I,26>K*1'.;HI2DG&#*(5NKJK*`%4YKS5`&
M))*!H]"X)G9'4==)G-%*'>:HUY408PJDLND#RGDCY)$YVD79DO+O)$:*2.2\
MO85"V1(&]]4#,=4"-60%?WRX'VHU4M7PT#("*5[#8[J-*7Q;'MM$=:D(V17)
MCE:B1J6LQ.E`8A/?3W!><[FIA%C<#5JHQ5LT:@W8P)"P!@#`-+.DD='-CZ.[
MGD],CBO9WEHX:\G'-I=FM8H;W-K<D%*S94A<&Y>D,)5(ER-244H2*TQI1Z<\
MLLXDP!@`BT.H9T>LN*/\DKOF^27Z0EX?K8GO]_X-M%J7<C_4DX+6_/(ST=_1
MJ290TSJQ2Y9Q=K<R<+6F*32QY,X.X:+2O,?-=%["WOJ]L$^R9,G0JI)(-%M?
M=*HLMP<4XU`#!#%)>U/8Y4\7(R"3<Z;DAL3ATJF5`&0%%,+$;:X0^[[W6QEP
M*4G*KQ6+Y4YL:M@[:UQU-$ZD8)`H*3.+XO0)K$1GATYDM*#4J#)O:K@JW7ZL
M+]O[HW-X]6=/[8A*^3V+53[3SR5(CVU)$Y&4O)=_:X#*Q.(U*DM<A1`,TB>'
M)WCA;BW#6-;Z6P!D",Q`%U$QM(A[ZG+;S$D\4[\?E2GE,Q0)W!#;VT:=([3`
M2(]$W%P2#C2)B$9[J1M,C#HP8R"BRBR?W00P:^[WO=L4LE7+]97)S35'*E-%
M:8O4;P]$K+EA)G.]56KH&6+X[3]$/D79F]S4RM$*9B%RD,2D)VU,N5[&X.YS
M2Q)5*5)LI8Y%)4"?>Q=J3=AS-4=VKF=PJTLIO.>.JD=9O"V\FN:;(JT;(N-4
M@DZ9$ABM?*$[/#I(UE.L_84TW-GEN)59('A:AJZ>/+7&HW$F;;:N=H<WN14V
M<3Y,A/TS&<'5%K6E]EWGB?<:>4O)5-(9`^23CS8)L.(,?2R6%H@%DJ5\=VE0
MTX2@;S``K/;]-W4#_+9BW&/,+`[P]<FCT@?V9Q=H\V'+6`*+0UHT[]N[&_=@
M3'65Y\@I;.H\TS'CV;#(4^N:U`H?C%LN&[L1`3[\3H7!W1.,+;6HA-OWF8HI
M4"V[!T,B\H#VH8-@2"DHBBIC^W;=ODS43I@W-I;X'QJ)D+RG:(^X7TZ$.7=S
MQMF;5NR:4M56B3K31*DA"C0%A!2E.0>,>M*22S2P=L+"+74:55:4VG+JD\FM
M=F.**?84^5DDM>@#(E+8X%_,Y.\74:,++,B37$\EPY#5F@<491*5W&<H)6MB
ME8C6)M%F%J41Z@@\`R##`[ZEDT=,FNRFLY@YY5[E2DL6Z9KUG1/:ER<A(-:<
MT8X16#I:#)N,M#A#BTL9FK-$F120)@*?$4JEH((XEO4F<#'9>Y1[W$OTC:E3
M2WK6.2LD`>HV!ZGM9914U8UUX5P\M^EZ,2<.2O)-6_5O#R>.,U8G*1R^(IIG
M)FV,RI^A\6C!]U*(^\J]2)QCC<F-T?6[`K6N1*UL;5#45*VZ2D+R42!,%S$I
M*]UUW.YMTU$LS1_G"[@O+)3,PN#'92SB:^O\K!M&='G5GG"BGU3B^AV@+`F/
M8W!O?QJM;1@`G.;%)/:0@*&1K00NRMF5Y5*6&9%Q3,:&HP]VI\9XVU",X1LM
MC^S1&B2E;,$9L3QV6S-CWO8]B^ZV+KZ_AR^BU+N11E6FN?>RPF@9W.HKPMIZ
M0544YRU&1?5PM*QJB[`_3Q^?:Q;[SO!&V,<)4M;'*65H[22W1=*VN\P.CL'!
M&42B."G$(6.S%)6NEXO>RY7TKCDK'717NO\`[76>$YYRWG4D)BS[8-!#802A
M/&V=K?)4MDC64BDX*@;[%DVYNG#"VE*W%#>3'R.Z`Q]L.:$L3E<AVUN"ALW$
M`032K='ASI=?Q>S:;+<?[BNV;3F706S:?DL2:8JE<#D%C/30XLK;+S1*V%4T
M^TA(FPIL/+,2/SNS+$O=29>V*8,)TWIY2RT&HZ(:5*IZKN/#]TP=R624R[\H
M6ALNU3!1,J6A$:Z-H;`>&M`V@=%%AO:=U5M2=X6IDPUQB1.WDK3DX!']SEI0
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M=(\".]S+:@L*'6`_I6).<X1K89-'2O[=MU/R:,VL7E/RB9HB[D,G%V<&3-V!
M*2HHHC,9F$L;FI&%F9"8^ZOQZF+HDZ!\1/#Z<ZGLIR!R;WA-'ES*E5`,&I=$
M0))Z;M.O3AK_`-P+($XC!)R!&ZWHT1)0C-;UV.]&;`'8];#\'8[T+KZ]=6NK
M[V#D_;`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P#B^L*3011<'(04FF3-MZ)Y.\
MGT:H#O,PE+TY*#D'92%`C,)4NP#4Y*)N3I$B--L`"TR,A.02`!)98=:H1LW&
M+:C6E]Y1:SM%-J,I)4C2E:7Q3?F6S=&!.7UHXQ\Q'BJ4RJQY"SW9ILK6/,ZS
M<G0GS%ZI&FD;"@WLQV)0MK`&4NR9QE2T]T:FIE:=O#\[KD"1,L6ETVBBI4C2
ME%@6V;<HQ<VZNM6\:5>LVO'R"Y?#C20KWC9"TR%J:$)TV>'>)2162"0PR65%
M#YFVPZ-P^,R[;XS355);"E#&Y-3[*%.H-$U+Q$B9"(XHU!6646OAMIP6K'09
M6DY97@>-D3J>+5BI3S=,ZN1F$Q"S51:1J=&:DEZ=2Q=UP1H0.:Y4XS^Q4"UC
M=7EA>H<AK-S62=`3(-:AZH*+7PV[=GFMY\/I;W=:Q='GR)=$#LL8STZ.M@#=
M$+@H:E"9&KN*O4;CKN],<G.3D*&]0J3*]Z.``Q(<>4;O91@P[ZC3*C7#*5=U
M3G73&DJ;Z.GF<.RNSS`I5(@6DZ:&%.=L&PV*Z=EH6BQ;#L/4^=?9:WU=75\/
M7FEQLZ.BC6A7EVFN7=_AVY'VWR(A-8<%#ZKA3[9;-)Z8AJ^STZ6/O\@7.2C0
M./S4E3J9(G8G%I8%ZR,RRR9$6Y2V5PI$(Z.'/>W&3C8CH1)LA=15E?2C=//_
M`#`^\W<J.2+Z](&`'%R<MS:J;F5Q'/"&&=MK0K`X.KF0Z$(6F9P!LDC(X1G;
M:B:7!GF$::3Y"F>U$M85Z5F:FW4C$-+7V?KIW-Z-=W\@G,NTG:Z*=I>QZ71U
MJ^6.D3O#J:XNDD'W"UNM/I;)1(6HETC+&H.>VB3B>JU="UA`$BUYB,M6@,:%
M3,:PF"<FYNN'.FOM+%\'(P!@#`&`,`8`P!@#`/P4IDRU,H1K$Y"M(K(-3*DJ
MDHL],I3'EB*/3J"#0C*.(.*&(LTHP(BS"Q"`,.P[WK8&&^]A6OYO(-_Z28/[
MOP#,4J1*A3)T2%,G1HTA)29(D2DEITR9.2#19)"<@D("B22BPA`446`("P!T
M$`=!UK6`?J,L!F@Z,``>@C"8'0PZ%H(P;T(`P]EK?4,`M:$$6OA#O6MZWK>`
M>>`8FXP*"NZP]Q=H7$W1P4[")2O<8XSK5B@0"P%`$>J4HS3S=@*+`6'9@Q;"
M6``-=00ZUH#Z+-&8Y'`J`QZ/LC"%7LL2H+,U(&L*D1.AZ)$HTA((T=LK1AFB
M]F=EL&C!Z#U=F+K`^W@#`&`?)>&%BD*8M&_LK2^)"C@J2DKPW(W-,6H"`PH)
MY9"TD\H!P2S32PFA#H>@&&`T+L1BUL#XB6NZ^0J4ZU#!8<C6)#BE*16EC#(G
M4IE!(]&$GISR4(#23BC`A&4:6,(RQAT(`M"UK>`9C@#`/`PLLXLPDXL!I1H!
M%FE&!",LPL8=A&68`6MA&`8=["((M;"(.]ZWK>MX!A/O85K^;R#?^DF#^[\`
MRY`WH&M&0WMB)(W($H.UID*!,2C1IB^RV+M9"9.`LDD'9"$+L2P!#V6][ZNO
M>\`]@999FM!,``P.A`'H(PZ%K0RQA,+'K0M;UH19@0C`+[X1A"(.];UK>`>>
M`?`>8I%Y&,@R0QM@?C$H1@2C>6=N=!I@&["(P!`ER<\1(3!`!L82]AT/80[%
MK>PZZ@/6:X/"F-8!Q98?%V=P*"8`M<UQ]I;UA8#0;`:`"E(D).`$P&]@,"$>
MM#!O81:WK>]8!E&`>`"RR@]@6`!8>R&+L0!T`/9&#$88+J#K6NR&,0ACWU=8
MAB$+?7O>]X!YX`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!AJJNJ^7*5"U;!
M8:L6*SS5*M6JC#(H4JE)XQ&GJ%!YJ$9IQYQ@A&&FF#$88,0AC%L6][P#[C.P
ML<>3&(V!F:6-&:>)2:E9VY&V)C%(P%E"4&$(B2"AGB*)*+$:(.S!`*+!L6P@
M#K0'UL`8!ZB]O0.B,]O<T21Q0*@=K4H5Z8E8C4E]EH7:STR@!A)P.R"$78F`
M$'LM:WU=>M8!B/O85K^;R#?^DF#^[\`S8LLLDLLHHL!110`EE%%A"`LLL`=!
M`66`.M!```=:"$(=:"$.M:UK6M8!YX!X;++$,!FP`V87H80&;#K8P!,['L]`
M%O79!T/L`]GK6]:%V(>OKZM=0'G@#`&`,`8`P!@#`-1;UH_DQ8TR2OU/\V9G
MQWBQ+`B;5$$C]'T38R%8\IUCD>KD@WZRHB^R`E0X)5:%"8VDK`MB<#44>G(`
MH5JQF"4UI5>VA#'>H\[?*I6?Z*/$?U<8)K'H^;'>H\[?*I6?Z*/$?U<8%8]'
MS8[U'G;Y5*S_`$4>(_JXP*QZ/FQWJ/.WRJ5G^BCQ']7&!6/1\V.]1YV^52L_
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MSM\JE9_HH\1_5Q@5CT?-CO4>=OE4K/\`11XC^KC`K'H^;'>H\[?*I6?Z*/$?
MU<8%8]'S8[U'G;Y5*S_11XC^KC`K'H^;'>H\[?*I6?Z*/$?U<8%8]'S8[U'G
M;Y5*S_11XC^KC`K'H^;'>H\[?*I6?Z*/$?U<8%8]'S8[U'G;Y5*S_11XC^KC
M`K'H^;'>H\[?*I6?Z*/$?U<8%8]'S8[U'G;Y5*S_`$4>(_JXP*QZ/FS?&OV*
M3QF%1B/S2<+;+EC.SHT$@GSBQ,,97RYT(+T!4^JX_%T;?'6<]<9K9HT#,B2M
MY&]]@G)`#JU@Y,PP!@#`-7;^I[D+9CO'UU,<OI9QL;&QM5)'IDCM.TQ9A,E7
MG*M')W52NM"+OZ]L-2)];2`2-9R=(<#?;CBQ':T+!*:TJO;0@#O4>=OE4K/]
M%'B/ZN,$UCT?-CO4>=OE4K/]%'B/ZN,"L>CYL=ZCSM\JE9_HH\1_5Q@5CT?-
MCO4>=OE4K/\`11XC^KC`K'H^;'>H\[?*I6?Z*/$?U<8%8]'S8[U'G;Y5*S_1
M1XC^KC`K'H^;'>H\[?*I6?Z*/$?U<8%8]'S8[U'G;Y5*S_11XC^KC`K'H^;'
M>H\[?*I6?Z*/$?U<8%8]'S8[U'G;Y5*S_11XC^KC`K'H^;'>H\[?*I6?Z*/$
M?U<8%8]'S8[U'G;Y5*S_`$4>(_JXP*QZ/FQWJ/.WRJ5G^BCQ']7&!6/1\V.]
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MV?W+++RO>#VK.G9.LC$EBZ-QBE?-31,XY!UDGLV'S]*TS129#3H`K8PHI0.Z
MK"M5HQHJ)I=N%;J<#U$%'=(:A9PJ=2=Q+L^7%UD7,)L5813DPLRR'4?2#&G"
MSLATT8Q`8&"S7KDP_JQ*&^1D3R0-<"+GT"FK%*G&218*Q_RFMO9JIINT7FS5
MZ1#EV^7*YO%8.;^V5FFC<-;#6YFF4;;C'MB(ET?5V.3%"G=82E:[.DD/=)RS
M,(9%&D*5B>8O7DJ:;]CR!XF%=A$*E+\?WA^K!D;K(#T@2EL<HRVR=4Q^V*9[
M)892.<QMV,AD8<HER")@30M5KD"E\EEDP*5V'4()Q(UZ(QFE[13+,XD/DB=9
M+(BB`]G][*]F--^"HA,:JYMI4;XCA,JFRTU/9#NG=%SU9S6YHIW49BN?G5RW
M0EG3NT$D<(?HX034H;/FNK'A$A>CW2VP-4>G3>TUXD4A=^Z&J;\;]#[*LWM:
M&^PV2.L9;HH6S2<Q*I"V]4]"<VQDB]B6&>A;@N2A<R)2DNF]:<\1HI6D<]H$
M#8TM\K<DB`K?;%9*0<^2*AJ7X><M:=CBPF%HW^/[>ZMJ^#/?:I32$`LR06Q"
M(1<1&K#ELCJ..-\<<ZM!8LT@\F>7AX5SN_)*)C=T\C+E\5-4PF3#NJ>.BNNE
M+KK\'393<30^T[TA[\.QR7&P6!Q$KE4Z41H\XEB1LIXFA-;TCX]RJ/,Z]]ES
M<P!@LD;^/R9^$CCD&>71Z-F+HY-4B51-AG,C$5C=<]%?OJQO\E75^JAMY7QW
MD7#:P,DEWOD2=[$ATKC4I0F/#A$(37<?LJPGNT2;?G(X9J(R\ZW:[K^&LL6A
M>G_2ZM7>S7I*W-L03^X`AW"ZE=E-%6]BWX[%M9DUI<?K&GUS6K8OO,F-Z$#K
M`F0@ABD<"[HY#5:EF]*/-EL\T>'F7!<1[?8W6!<0CE5O[9%*S21(R;^Z!U>Y
M!:1IL1!.Y7\;G?1J[;5Z3(8SQ4NA@]RSK%IPU5W8$:XS2"KFN0Z726>5[#91
M:EJ1>;R]K@%7+GQ@C+6@K".0LF(UO)BF-G.5H7*.`DK.^L,3)B)05UWWUU8<
M]/\`HA%&\C:\H7C/5Z1Q=!.;0V2AQNA175A:B[RFM.:O)$H1R%9-I]N?.\CA
M$4?)%/7B6A&7+WR>RI'#]N<9?XDYRMGT%4VWW5V+9I?<K]-#&3ZZY]3!"X#<
M9>YP)0U5FZ.+6C;YQ&Q^Z:]65OM=6TI%2EH1*3F^IG^9V9$!H4O=R1W/AE$Q
M,B4(VD4KD40V'LZJ\KMN-$T]%[I@CVD-*<W$=C2YK*N63F5L*2Q-M9I$O?FT
M]]5U\*R*<?'E2WJ%+J[DZER>!Q^Z&]\7FUY"S4\DL-"TL"B60ALBR6N0K&BN
MO_\`=VS2^^M?OUC2G)YG@UT&2272=%;UD+J`A[),C)\FD@(;5;8S0HN=GQ3V
MX&[H2IM7;C,;Q[C>'1@THL%:T1![=U#RN<E)Y0.EVJ_1C>Z5\B(9U3'2&H(C
M)6RN[&?W!UDT9(6,RA^L,AV5PN>)5/(!QCS-M8)]A2[W#L;=+:-CCY(DKX_/
MLC=:G1N4JAUC(9A.UBT/9T_>FB_MONHL=%$9/*Z!YO*[/0V=%[,0^V;.U7XW
M-R.2O1)R;N>SIK.9+5L?3Z;4Q2%CAM=GUEQ?46"VH6=4]V`V.$U:R)`!`VK8
M[)@K'4]'ECWW^1FU#4]RD:YZDG%KR5[=5C%5UL-%>@D<GV8V-D@F[A5!9+?9
M,:9YY-B5RX;G73G-6M<SR"9-C,@G$CC;2OB36T16))`;6C9]]BU_^XF*M$&Y
MZI$:5O)>))I#+8X^QEP52>Q(4Z2>!S1]:J'C[O;S@X("3FX3.E/)Y#S2!5[#
M$[NW-KSNOTPFB'M,@7QROPNQW7;+[N%7OQTQU"^-G,>+%B=FUUD;%)Y;"5<=
M<UA5I-SDHCUL"=D]H1JS)<Z.2US72RIHA:MU<I-GUXWG.:J6LJ*J&EXB/M.I
M6!B(FJ?_`)HPIW);K[]!]V04=SPF#S"G4Z7B9@1"7Q">2\+O*V9X5R:6M#+=
M$,MI+3`48AMU9Q"P81;D<;*@6/Z8]="G.K$DCE$):I@YK)8_"*I=S^S5>U7Z
M.RXMN"'0`A!KLMZ"'0=;$(0Q;T'75KLACV(8Q=6OA$,0A"W\(M[WO>\')Y8`
MP!@#`&`,`8`P!@'YG#,+)-,**V>:`LP99`1@+$<8$.]@*T89L)8-F"UH&ACW
MH`=[ZQ;T'6]X!3%#>,O)^)1&"/D!K"/4]/2JS:H+>Q\;E<933>^+$DCLPSR?
MVM)E\*D\12*4+5-XH?'HJ]&VD@LE%"[LMU];$K:ZQQBB$^'557&JK5;%JOY4
MN2W?<B])<_69;#E!TJ=`R.06;5DCN*5F3A&XLB\F,1_C'`YF^-K*5,68#2V.
M,,AUR/[9$B(W*8T]V#)75M?8,VMB:%3P`>S?Y>;Y+'MQ1/-L0_EZZ7;,WF'K
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M$]UO%DME+NJ&!KUSLVLL5E5GJFE]VW;4M`#!A8U9+\UL)REV5@TVIFZ0]S(!
MFZ1.6BQSJKVE5E4\/>45,M3ZQ5`2_P`#B;U7[3"HF6<_4C"[`9;0A492,U:V
MI;*>F(^QUS**R8E[W-'R6-Z`F=W!8SBCB338BF;0U"V1Z+#MM/&_OI32E72^
MY:*.\E513?2"2,V3A>[`;$JAQG#LI;'0)D>$3%1+&.\(HWS6O6YU=)RD0(HB
MGLFJ9-#0F-D1<EZ^EQAE4"+?'EYD-@"/9NN_;MVVN^[!(]F,)>5C3R:@-7OK
MU<SK"T=AR.1J):E,?U$"8:82RCD=,&MDG$O=(E[0SN72Y$7QNAFT:>7.3Y&&
M_3RD;0,"=+*2YD%U*[//V5A7>S-Z?IGD#&><=UWG-8BRKH9/8S*&)-)=/K,-
M:UIF.2-**MHY7+4A>"G0^-S"L(S!'&RA6822="+KB\O.K)";#;9D#TW`VLFF
MG]QVUPV8WHAT_B[S;1N=OS4F65ZXSSD2V029R-6V)A(4U4V%6"._I;6\50"E
M+W*&N8H81*7[C[7J"<LT;@Q[E&JW-F:N-$RE4L4*0JKKG1?>E=6-[IV5:,Y;
MJ1Y9P&SK)E<)<YTYQ]^LN*O[P0_6A%WQPL.),<MXM1Q*!A2.OM<B89"HJNH[
MM-F!CJIBZ<G5L-;5&37D"%&T0@*JB[?N^+5-SPTR)4[/RYA\^43VZ3Y`^Q)F
MHQ>\R*-1J1))8B7V6>@CLL<(I!H^T$IW%["WR%RGT59BE$";Y)IOBL+6MEC2
M5KFJJL8"#I2[7^U?^TQN6+B"&PGI#]09G+7NTD2O4NJY4P/6I#84.<7J%76Y
MU["(RY6P<L`DT217*5[<[)D\0KU@2KG4A\AU>*GB/QLR<3$F&A[/<]MZONX7
MO[&,H^+?+-_;$S([]J9XX[V6ZSZ5L$HFL>F2!OEEK.O(AOO!_B#9I$M:0PA3
M&>2;8XPN).)10@OU'=U.3`E=90)[D857+L:I7NOW]B^A*85S/C[/6<\6)I5(
M+5CJ]A3%LCE+M32/2BZY!.^.J:5O[8GA4/<-4_2<EA#3R.C)QCNO-98=7;TR
M/BEOALMD#O'4P77ZOM?=C??3M7:;'V37W+/W8<>F.!SIQ=(G"1U@?:$]5.*!
ML6SL]/8C`HN57)&%-(V(I`<\5XTN3?#6A%'I_&^VSB3]I10%[A4%>W41=?PX
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M)7[F7<YF+=&`E_DE61^'+G1D%'E@X]:\@>46F]TC3<>V"+K_`"_=S\B`(/QE
MY=Q"8AG2Z2N+G8,^#5B:;3=MG3866D<ZPC]%Q-6\39.XEA5R*$.S7&KYE$9K
M.+)!Q]3-K96E2II:#3&:=P@35?N]^>%^S3@_MNO'SG*NBY:HJ[YT1-05^G(<
M$9%E(D;`ZSXOC[9"AV/2=PLR4UG;'GD7-*]:T.T8TPV."4R2L1#3+9C)ETC"
ML:X?M5MONKWTP2,=F=.<_99()RK5O2]0P))RVRJ#,Q,_1L@%\@@X>0LAKER4
M"02TULU!6R7-?%LE[;$L=@ATN:U\U52RN75[C)#O(`JEW4[Z5U;=>BEU42!'
M*5Y?M3@U18F5R-GKED?)"Q2@+7.HVRFRZ!QI;8CI3J&IV]C;]%5*RIH@S5-5
M<V&W$1F4.ZJ6RV0%EEN$(:)U)0JM5_!Z:Z]+OK]E8-5[3+F&M*[8Y^^;D\\9
M8+$FF;2782@;D,N;F!O1R1\V`@H@@.W9Y)6K]A)()*#W1U%E%@UH&AR]F!G6
%`,`__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>26
<FILENAME>g908770g26v39.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g26v39.jpg
M_]C_X``02D9)1@`!`@$`8`!@``#_[0[P4&AO=&]S:&]P(#,N,``X0DE-`^T`
M`````!``8`````$``0!@`````0`!.$))300-```````$````'CA"24T$&0``
M````!````!XX0DE-`_,```````D```````````$`.$))300*```````!```X
M0DE-)Q````````H``0`````````".$))30/U``````!(`"]F9@`!`&QF9@`&
M```````!`"]F9@`!`*&9F@`&```````!`#(````!`%H````&```````!`#4`
M```!`"T````&```````!.$))30/X``````!P``#_____________________
M________`^@`````_____________________________P/H`````/______
M______________________\#Z`````#_____________________________
M`^@``#A"24T$"```````$`````$```)````"0``````X0DE-!!X```````0`
M````.$))300:``````!M````!@``````````````_@```3(````&`&<`,@`V
M`'8`,P`Y`````0`````````````````````````!``````````````$R````
M_@`````````````````````````````````````````````X0DE-!!$`````
M``$!`#A"24T$%```````!`````(X0DE-!`P`````#%,````!````<````%T`
M``%0``!Z$```##<`&``!_]C_X``02D9)1@`!`@$`2`!(``#_[@`.061O8F4`
M9(`````!_]L`A``,"`@("0@,"0D,$0L*"Q$5#PP,#Q48$Q,5$Q,8$0P,#`P,
M#!$,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,`0T+"PT.#1`.#A`4#@X.
M%!0.#@X.%!$,#`P,#!$1#`P,#`P,$0P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`S_P``1"`!=`'`#`2(``A$!`Q$!_]T`!``'_\0!/P```04!`0$!`0$`
M`````````P`!`@0%!@<("0H+`0`!!0$!`0$!`0`````````!``(#!`4&!P@)
M"@L0``$$`0,"!`(%!P8(!0,,,P$``A$#!"$2,05!46$3(G&!,@84D:&Q0B,D
M%5+!8C,T<H+10P<EDE/PX?%C<S46HK*#)D235&1%PJ-T-A?25>)E\K.$P]-U
MX_-&)Y2DA;25Q-3D]*6UQ=7E]59F=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$`
M`@(!`@0$`P0%!@<'!@4U`0`"$0,A,1($05%A<2(3!3*!D12AL4(CP5+1\#,D
M8N%R@I)#4Q5C<S3Q)086HK*#!R8UPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4
MI(6TE<34Y/2EM<75Y?569G:&EJ:VQM;F]B<W1U=G=X>7I[?'_]H`#`,!``(1
M`Q$`/P#MK,+KWZ0X^7D5.>7EA=739LWGU7-#;,K9MKLW_9_]'C_H/TGII#$^
ML0K>W[;>;"T!EGHX^A'YSJ_M.QZWTDE.)C8W6ZWV/R<C(R";&/H`KHK#&@_I
MZ7MKR=M[;V>S])_,?3K0_L/6VW"RK*R6,FPNK+:G@AQM?2W==E6;/1=;5O\`
M3_G*\?\`1^C[UOI)*<0XG4WMM;==EN-@8&.K]*LLVON<YP]/(V;[<:ZNA_L_
MG*/M/_%MD8W7+-S66WAEC=CA%3"P;-OJU/KOWNL];W_2_P"O+<224X%>%UQE
M;2[+R7Y`]6;7,IV$6AFS=C#)V?J[J]]6QS/_``2Q3R*.OESWXUUPW3MJL;1&
MH>UK?59<YS-FYGN;5_@UI.?F-)!-+>8!+N)^E_FI-MRG-,/H+N6P21&X?^B_
M^FDISG4=?+JMF5<UE;"UX-6.YSW;B]EAL]=C?:W97L;5[U"[!ZO8RH5WY5=E
M;BY[OT9:_P#3MS&M<S[6WVM:S[+_`.%WV5?S7Z-:;7Y[WZ&G9S(),@[8_P"_
M(]Q<VISFN:PMUW.^B`-7;O[*2G$IP_K`R^NZS,OM(:66M]*EK7-+JGM-=;<K
M97;^CN9ZK_6_I'_!IQA=9;;7:S)R@64UTO!%3FO+&VMMN-;\IU;;;[;*+M[6
M?]IO2_PRNLZD'[2S)Q'-<&N9[_I->&N99_:W>S^NILRK;';:;\:UY`(8':_F
M[W>W?[?YU)31.+UWD960';2T$UT$#VN##L^T>[])LLL_/?L]/]&HUX?7V5.8
M[,O<]\?I/2HT=N<^QVUV2_VOW;/3;_-?X-7GYES"UCK\5KB\B"XC0&-C=?YQ
M6\=]CZ][RQV[5IK)+2W\W4I*?__0]5247L;8TL=,'F"1^+4"O`H8XN#K23I!
MNL(`(C@V)*;*2J_LW&B`;AY^O=/YOYWJ[O\`!M_U>].,"AID.MGSNM//QL24
MV5S]_P!=>C8F3?B9;K&WX]CJWAE3W-T,L][0=WZ-S%KCI]`,EUIXB;;-((=^
M_P#O#\[^I_-KB^H?4SJW4NI9N=CVX[:K[WEK7N>'#;^A.[;4YOTJTE.N[Z[_
M`%7>\/?ZCG@0'&AY('A.Q19]<_JI6XOK#V.(@EM#Q^1JP_\`QO>N_P"FQ/\`
M.L_](I?^-[UW_38G^=9_Z114[U7UV^J]((J-K!S#:'@?(;?:N@P\JG-Q*<N@
MDTY#&V5EP(.UPW-EKOHK@?\`QO>N_P"FQ/\`.L_](KM.F=,^S=-P,;)AU^'4
MQA=6YP;N:&AT?0WU[F?GH*;CZZ8W6-;#1RX#0#7NLM_U@Z)COI=,5W@^GD-9
M+($#5[?<UON_=5_J.._*Z?DXU9VONJ>QIXU<TM"X`X'57$8?V6XO:2&U%AVA
MSH#_`-)_-;';?YS?Z22GT8LK>-6APYU`*<````0!P`@X5#L?#HQWG<ZFMC'.
M'<M:&DHZ2G__T?54E%X<6.#3M<00'1,'QA5S1U#>XMRFAA(+6FH$@=V[M[=W
M^:DIM)*KZ'4(L_6FRXS6?2'M$_1=^D]_M46T=3_.RV'R%/F#_I/W?:DIN*CA
MY6-6RQC[JVN%UTM+@"/TCSQ*DW'ZCO879;=C=N]HJ'N@-%GNW^SU/>[_`(->
M==<Z'U+)ZYU#(IZ?;?59D.++6U[@Z`UAAW]9NU)3Z5]MP_\`3U_Y[?[TOMN'
M_IZ_\]O]Z\G_`.;G5_\`RJO_`.VDO^;G5_\`RJO_`.VDE/K'VW#_`-/7_GM_
MO1FN:]H<PAS7"0X:@@KR'_FYU?\`\JK_`/MI>E=$Q<FKHO3*BYV,^BBIMM):
M.S6[JWAWN8[3\U)3JJG;UCIE-S*;<AK'VDM9,P2($>I'I_G?O*QD->^BQK/I
MN:0WXD+A>ON%E].&QI?<&N!I`)=+R&LKV?V$E/?)(&#7;7A8]=YFYE3&V&9]
MP:`_7^LCI*?_TO54D+(JMMKVU6FEVX'>`#H#+F^[]Y";3GAH#\EI<'`DBN`6
MS.W;O]OM]F[<DIM)+/L.=18!;>ZQM@AOIXY<&D$?3]-SG^[Z*E2W-NQB1DN9
M;O\`IOIV:`;'-]&P[MC_`.<:[?\`3_[;24WE6P/YE_\`QUW_`)\L4#BYT&,R
M''9KZ;8&WZ<"?\*O-.OY^15U[J5;,NVIK<AT,;<]H$M8=&->UK4E/JZ2\9_:
M>5_W.O\`^W[/_2BZ[Z@9>9=3U0UVG*N9Z/I-NM<YH)%OYSO4V;DE/<)*%1L+
M!ZH`?W#>%-)2EE6=6]0.MP:Q;4QKB<@@O+VM_P"X6-2'7YK=_M_P%/\`HKK4
M+J%]N=FW]/JUQ<*H69@'-EE@<:,1W_`MK'VC)_TWZ"G^:]>NR@['9;E59,;K
M:6D4D<ASH][?Y6T;6)*=CIG7,#/>[&98YN94)MQ[F.IM'\OT+?=L_JK17-57
M?MGZS8U^-#L?H['MOR&QM??:W8<>MP^EZ?TUTJ2G_]/U5))))2DD.^XTU[Q6
M^W4#:P2Y!9GAY@8]XTGW5QV+XY_D_P">DIM*I@L8:K"6@GUKM8'^D>E^T/=!
MQK^0`=DC4!WYKOY6U<IA=;ZM_P`]']+^T'[!]IN;Z&QD1Z3\C^<V>M_/>_\`
MG$E/:>E7^XW[@G:UK?H@">8$*++"]S@6.:&\$]]2-/\`-4TE*22224Y-O2L^
MGJ61U#IN36QV8&"^C(K-C"ZL>FRRI]5E#Z_T?M_PBI9O3WV$4=1S&5BW4XO3
MJ7-NL!/YSW/RKO0_TCJJZ/\`A+EI=3Z@^E[</%(^UVL=9N(EM53/YS)L;_6/
MIT5?X:[_`()E]E7/9]O4,9C68377LN]0YC'L%HN)#6_K3MN_](S<S]'Z?IL]
ME/Z/V)*>KP<7&P\6O'Q:1CTL'MJ$:?UMI=N=^\[<CKDZ*,;!Z]TFOH];L49M
M+[<[##G%@JV!U3[*G>RI[;/;O_?76)*?_]3U5))4;6YQS+32\M9M:&M+);,.
M]V\V,]O[[-GJ?\(DIO)*E4.I"QOJOW,EVX!K6Z1[?\(__7T_^$5&YO53;=L?
M>V6Y(K+62`_V_9G,#K&,=M9_1V/_`$+[/5]9[/T*2G;6;1]7^E59QZE]G8[.
M-C[?M&NZ7RSQ_-J=Z2E>,\Y/Z-[A('I^V:@[;;_.;7M>]G^9^D^S(>SK?IU@
M7'U!/J$U,UU.WVB_8S^QO_X1)3J)+(R&]3#!ZEE[OT[-OH,K:0S:[VN_2/\`
MT/K;?6<Y%<WK'I.BP[_4,177(;[8#-UVS;]+^<_2)*=))9FWJTVS80_W>F?3
M86@>V/3'JCW_`/AA2<WJFQL6&11#X8S<;-CO=K;Z;7^K^8W]%_PB2FCE'+P>
MN969;AW9N'EX]5+'8X#W5^F;?4K?47LLV/\`6]3]%O5<C-R)9T[!R)=HVW-#
M::F?RK&[_M=NW]QF/_UQ;6*,GU))?]GGV-<-1I^>^]WVAWO_`)'_`($KJ2G+
MZ/T1G3W6Y5]ARNHY,?:,IPC0<54L_P`%0S\VO_U&M1)))3__V0`X0DE-!"$`
M`````%4````!`0````\`00!D`&\`8@!E`"``4`!H`&\`=`!O`',`:`!O`'``
M```3`$$`9`!O`&(`90`@`%``:`!O`'0`;P!S`&@`;P!P`"``-@`N`#`````!
M`#A"24T$!@``````!P`(``$``0$`_^X`#D%D;V)E`&1``````?_;`(0``0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0("`@("
M`@("`@("`P,#`P,#`P,#`P$!`0$!`0$!`0$!`@(!`@(#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#_\``$0@`_@$R
M`P$1``(1`0,1`?_=``0`)__$`*H``0`!!0$!`0$!```````````(!08'"0H$
M`PL"`0$!`0$!`0````````````````$"`P00``$$`@(`!0`%!@L#"`H#``0"
M`P4&`0<`"!$2$Q0)(1465Y<BEM876!DQ(]35-]<8.'BX&D$D-F$R0C,E-;9W
M46)R-&1E)E9F=B>W.1$!`0`"`@(!!`("`04```````$1`B$2,5%!\&$#$R(R
M<8&1H;'1X4+_V@`,`P$``A$#$0`_`.JS8_>\_7_R-Z/ZZG2]+<T7M*(OFF#B
M1I:&>M\!VH`A*?M&G,V$;UU24?4K)0Y!Z$B?3QGWEB=)9>0C(S*EQK'%ORQ?
MHCY$;?'7_;E`W&++;".L?RM;RZ0:,,A(^J5\:H5ZIZGI>QJ='VYP,>+<D(QC
M+\HTY(X9,D<J<:PXEW&/,D8]>E">^;_4+VL83:<'H?;TO"2W4RP=RB!%R=`C
M3HC550WXSH&S1YF"+(MLBWCS[Z3!11\O#E#N(2HAG/J9:9.OW^5\W7Y*HB=E
M:]5X:.V7J>QUKY"^K75.W"@1&M[LJS1>_(F&N=53(/S9CD=#5"WU^:2+,$QK
MBYV$>:5D/U_%+BF3K_V4YOYD]9-P$7;I32&S8NL6#7W=VZUHMR8IA<E-G=!F
M5R.Z8!J,#EGD`)DH5I;L$64^PDU]M3+S8R<H=6R=?NN24^7?4T77]H6%>H]I
M&LZLC^CDM*`@DTS)TR!WTBE26KTPOOK$`']85A:FV)MLIX9IIQ6<C/$(3YLL
MG5<FI_D[J>V-T4K0KNI+U1;5?-T]N>M@<^7+U*?AHK<_4*'59+U'MM`GH)D*
MW)UGQ*`D7&QTN$H]NMG&,X>Y4PJ>O>UUPT3:^O/4/M':Q]A]F]D5O[2?K$FP
M:7I>+V/&3VW+)6(F)J4/$OG:XG-LZ^H[0)UJK</*X6AKRO1>9/)#:,Q<9S9X
M4;>^ZMY,?)?UTZKTS;$O0=7[7ZV[BV/86(6IZVF99FX463%#@309.XTNR%-`
MJ07XE#95Y7O)CR*:SXYR).+42M#_`"JWRQ2E5;W*Q.?:'6=&^0H38T'K.I5(
M;6&\Y3II+U53^Q(&:MA[MUIQ3]?2ZW'QX)+T49*2):"G66PV,896ZI1"?*M#
M/06I)4CJWV"^M-_ZEFM^:-J%=!K&R+CL_4-;T[K_`&M+2\)6=6S5VG(RUFG[
M"%KT7%28X+1LHTXITP4=*W$,IU^ZZ=@_)&''Z][-;(U%HN^[/JO5Y.]ZYL*Q
M'F1U)CJ]LG177R'[`S<%:(N90NRPM;,"G6*Y@U(CT@W9TN#*C\"X]]RICQR]
M&ZMN]I+E\6[_`&.T;(A4#LRYUKJ6_8H&,K\!<H>3D1:E%WRTU<.OV.-L#);-
MHKN#&HYA&<&,&.C(R\KR.)<?!,=L?"(=$^07:^SNQNOXJN[`E!.NW=?JA'RW
M3ZS)K-%+)A^S$81KD+8\:1)9H+GUV/06=AJ>D1B\%(#-@)0=P;Q;2VW%QB?>
M)+;9^2&L!5OMO!4"G[X,QUNANR%'M6]ZGK%NU5RE;.T'U_C=SV24,.DHG&JQ
M5C`3"@XEF;-#;E+0![!X)D,L,HD2>%(KORAUHBPZ/U1%:[V/>K9?Y?J!KR6M
M\VQ"5$E^Q=J=#77>L)<AZ]`1]@"D(&OU#7IJYX@-#,;'RKV1F\Y'')(8&/E%
MOJ[\NM_<ZIN3^ZJ-*;$W=$=5.[7:^)MB"*?4*ALFN=5M\[$H953?!JX*WJC*
M#UR)`:01F,PV8H0E>486IE1#*W7GA/+8'8+M)(="-+=A=.:N$N^[+E6-#;$M
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M?5#NE0^W.M+)M'7T01F'K0[.)2NAS,;-W^OV3`DB;,:QO5%82'8J/MJJ8#:8
MD8@ME0ZR"6\@&'#922JI9A$TWYB=.1=>O\L;J[814SKQ'5\^;J<%*4V3F!P.
MUMC(J%.A)$@J;BHN&V1K^U#+C;A"$/I9BC$*0,:>E"UIF5ZU7/WGE:M[LOJB
MKZXNL3V#<WCV@Z[-5$2;HY+$%/\`5K7,)LO9.P@[+8%MP4S7(^LW&$R`RH);
MI<I)M"O-,L)?*:&/^'TT-O3L?O[XK]&;JCMD1]8[*;AJ>L1!]CXI]5+AH^X;
M`VK"T)N7+IA$0]77HP=F8PIT9MAKS)1^0I"L^;CX+)-K/A$HSY*=[[#T/T)F
M*A,`ZZVQ8^Z/7CJ=W?BE5NM2$W6;Y9MIV#3VQ:-&1LV'/Q%;(F3*5,S;>4L9
M,CQ7(K*5X;(=;6RO69J>ED^2;6U3W:?HV<H-R"M#L?V<?K(SI4&W,21752JP
M=SN3UCKSA:"ZE6=A5JPCG4J4RX8W.!H==?;!\K:7:SCY0EVY\M-HAE]%]]$U
M&S==>JVZYVSV&SS6SR=5SK6T]8/=<IW:,.\!FJR=TL]&EJY<8Q@%;><"$%K(
M3A"",+\C,RUU\SY3W/[_`%<"W#$Z,$TYMJV[!:JFC;?L&/UO`$[-`UQ%=@;1
M+UFGD3<[0Q)^"=CJRW#N2MCD5$CQ@,,KW(1$EY5MIK./GX?'IGVIOO;GH^3V
M2G*X)JRR60[L4/6PJ](!6),-%:YVCLBDU0MM^8C'PSI2/#JK3)2R@L,&%CN$
M8';8>0PB+9)<-7W4SY*>V$?UQUGW.[&MS>Q>L*NN$W8]XVM>OJA3)4;L+)]@
M7]5ZEI.BQ8:.IKEN$M8$@$S*9?9/C1'U86B1;(PL)9;)G$\I[["^4*+U_+M5
M,WK7NYJY/T#L_L86*M<5G60)U9ZJI#D;A.QSVR`*S9)"LW6MR8QM:/:B%8.6
M]Z!+0:VG\M,IU^ZH5'Y2]8[-E1XO4VHMU[#].AZ$N]C/A*3-'1=(8[)Z-E]]
M:S^W$M!1L_$5*#&K`T:-.24@0,W&DS@JF6RV&S'163JQ?J7Y2[C;]0=+)P_K
M1:K[NCNWKC?.S-;:[UC;J)'1+(FDT1E@E*^=8=BV.K"!$$5NR!M!ON*5DHEA
MW+C;'F0G+)UYO/$79MCY6J9K8O<56QJ2U8V'KS2W;+;M<J%CG(.)D)-/487!
MEOB;V)'KF3*"/>HA]B9JI3:91N7@W</N^S?4V,MDZL:1_P`GXU!M-%FM[$7&
M/59_C\ZR]A']65"M40VF2=[W_N\744#(URV%2;-[8L,[:)T<5R*+=7#1D*Q[
MQ3RR</XX,>O;-E@^477\=M6(T37]6W*V[=/VKV+TI(P`$W68R"@[]URTW%;T
MGG3+%-%@O/TVU4.;8>C)%D)9.7DO,O!MO-9;4R=4<?W^/5[[NML?W*?[8_\`
M[G!?\S[IO^\_^)O_`)E_W7_Z_&5Z7W\O_]#I:V+N?XR-L4RJ4#8-4[=V*M4?
M<R^PE1;<ZT?*7'S5?W&JRV"WM7:-MD3JL"V,%@V*TGDB#>]R"'DC*&&&VTH0
MF<-8V^L+0,MOQ2%/DFL4;MQ%2I?9DWN`_.1'67Y1@)Y'826@\5>=O<?-(U,J
M2A4SM9_W`F.!=&B\L83E`Z'6VG$.%QLL$:M?"^)46**QIGM4BJCZ*E>M+<2G
MKG\L+;6-)3FQF-M3-&RZUKM!'MI/8@R))XO"\2"EI]'U\#_Q/'!_+ZPOIZR_
M$H1,EV!_6O:]V9/W3J3L06>YUI^5-3KVY-$PN*]JFZY3G666D$5.'0AE(:4X
MCC/2;44.^MM"DN#^7UA16%?#PQ%5F#_5#VC)AZ?&=BX:OQLAUE^5.3##B^VD
M:_$=APB&9'612)1G98!"TD8+]?(:L^H'[9S&%8<'\OK"F@`_#Z'7+'5R-<]P
M9>/N`^AQK2_+]>_E<)DYUGK(.R/HILN1;UH.2PUKI#&/9-CY9:SXYPZEQ.?#
MC@_E]87]5;W\4=)V/6]MUG7/:J.V#4=Q;KW[7Y]SJ_\`*1(X!VWV*A6*[N>W
M+B)/59L&:N\0P^&'@B!G8X7"EJ%'84XXI3A,;,I[`[4_'QM*Z5>^7V&[46.8
MILUK^S5P$WIO\B7V7C;1JR?G[10+0-46M"MUMBR5V>LQ3Z3FQ4%%8PRT2MYD
M8=MIP8V4#8'8#XW-G[@J^_;;`]P5;?I5.FZ!5+O6>M/RE4.0@JC8WL$3D0")
M0]55J)0F3>QA3K^1\DYRE/\`&8\N/!P8VQA9<I>/B7EDT]M>HNQ46+0=5;2T
MI4H^K=/?DKIL5$ZWW8$\#M6$^J:CIJ$C#I"[H(6Z9*DM/3&2\^Y04@C&'<.%
MQLJAVVOC%*A>M\&'5^W%?;ZD1:Z[U\F:SU8^32"N&O:F550:-+4\.\@Z:;N4
MI6)^GQ@L><*<<2DAD5A6<^JPRXVX3&W+SG;0^+XZ9WI*_9+MF`'V6JTC4]X5
M*&ZI_)?!T*_B2U(>UM)2LG1HC2X=8$LQU%?S&NR(@PY;C>$NJ7DA"7L.#&W#
M.VLN\O2/4>MZCJBG([5XI=(K<;4H`*Q=+_D'MIS,#%!-QX(!,O9NOTI)ECCA
MM):;;6[EIII.&FTH:2E"63K5A5#LE\;%"B-!P51U[OJ$CNL+,J/H]L3H9WQP
M[16IZGS%%GL`$+ZYJ?(7.UV>*08M]3BR7G/6<RIW&%<<&-N5DS>U/B_L,OOR
M4D:CVS;$[/PTG#[TK$1U5^3*N4V^N3M-+UW8)\NK5W3,5$15LGZ,8J,-E`&Q
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M```6!`FAQ$8'RX7^3*M+[%?&S06.O[=>I?9+W/5S7<QJK14O+]*/D*GIZ@T>
MP05;K$S#1\Y,Z"-E"4G0%2`$RX0ZZXVPQA#>4)SG''"8VY89@W_A^K4'4*W"
M:I[6A0M"H&\=75(''6_Y6R$P]%[)'RTINR#0\5K=\DO[<R4X2^X40MTP)Y:5
MANCJ;;RAPO\`+ZPC@&SUPJ.Y@K1JC?W>K5FKJZ[IBNTJAUGK1\CLE4*_I/4U
M)U_KPO2DSK.]]6[PNVM6RI5$\5RP)M<8L54LDE,:X8(HDL<^D_*GV4^.:FQV
MUXZ)K?:4G.\8L"#VO+SO3OY&;%:+O#1-150X<"<MTUHHVSE9BZBM0;1.2_>J
MRM9#CSA3CCZW"8VX1GC:Q\.$?$.P+FN>X\G%/T[1U%?$DM`?*\[ARO\`7"55
M-::'PX-K05UE5)/PUD7#:D-I;80WA&$9<2XX7^7UAD)^U?%"J<E;2!1.W$%:
MYO<>R-]R-I@.LWRCQ=B5L[<53"HFU)@.68U/[N(B[[3HT>/D(D-0\2ID=E38
MS;K+3B'"8V99I_9;XYJ!I*F]=:57.UU9U!K[-:53JU$]3ODQ%D(+-/L@5OKG
MM;DG3?VY<Q&6*.9)QAV2<PYE'D<\[><HRX,;9RM:X[?^+:],"#3^N.RK;0?8
M:'[7MYKG4#Y*J4\]V(@6HUF)VH>13-,0!$I81,1`RO*2IT5QUK#BV5.94K+@
MQLQJR7\2;-T7?TT?N'FQ9LW8&VLK3UP^4MB.!F.TD2Q#;T7%PXNIV(R)9O88
MZ/60,TUZ+B$*9RWEIKTW"_R^L+M-O?Q/R=)T-KB2U?V;D:/UFB[#!Z6KDAU/
M^3HT"J0UJJ9E$GHF0]SJ-U^[1Q].D7XWT9]<HVV(\MMO",*SQP8VY?/7E^^+
M34UDUY:M<53N'59?6>MX_3\"Z-UK^4>3Q*ZN@YU^RUFAW=4]J:6(OU9J4N2Y
MF*%F7#6P15>S:Q@+"1\.$QM?J,AZ<[)?'7H34\IH_5\/VU@-7RIUW.S5G>I7
MR2RK,5C84_.V:T!5N0E-(%RU9!,F;(8\E`#X^6W'LKQGU/R^.#&WE;$/MGXL
MH+JV7TM`UIV1<ZSFP$O6'-8S'3GY([*.U#34P182QQ++9=*2]Q">'GB5&B/M
M2*'P"L(=&6TM",I<&-LY^5*GMC_%Y;S:[,7>N=R[O8ZQJ_9.FP+3:>NGRH2-
MC)U]M^`'K&QXB7DTZK87,%V:##88R<1APX/##61'F%--Y0X,;?6']:^V/\6N
MJ;'&V;7-+[85$@'56NM+&Q<9U4^3)ROVK7NH(I^!U5%WR$.TR8#?3]>P)3H4
M7(2Z3#V15X;4\M+;/IN#&SR:RO7Q7:B)Z^'4NF=NQS^J\=L*&T(5*]9OE%GD
MZ]A=I1\=$WB&"CY?4I<1*Q4Q%Q`K/H2`Y;;'HX<:PAY3CBW!C;E8K8/Q`ID9
M21<UYV])S,1/8Z`.CRNMGRD/PN8'MC[G]>T,/"KU+]5AQ]S4:\O*&FD9%=<]
M5G*'4-+;<+_+ZPN1F<^)/RAJD]<=K[*6%HRD]<&C[3UB^4:P$XU!K>\A;,HM
M:91(ZH>#`+J5_CF)6-DA6F),`EE&!R&FD(;2X/Y?6%R$;)^+`VXUK8AU`[2$
M7^JW+;NQ8ZX,=2_DNAI<J_;YI(>N-M6Z917M,Q$9,RUMHT>Q%IP2.X/%A,-L
MQS8;;3:4.#&RUO[$WPX?L_[Q_NG^X_X>^2#^[7_]G?\`._XF_P#Q3_C/_P"!
MXX,[>_\`L__1[^.`X#@.`X#@.`X#@.`X#@.`X#@.`X#@.`X#@.`X#@.`X#@.
M`X#@.`X#@.`X#@.`X#@?_]+OXX#@.`X#@.`X#@.`X#@.`X#@.`X&/MA[*KFL
M@H*1LF2DB3EG@*PEX1G#Z(Q=@E!(9B9EL^9.0H$.1D!VB"E?Q;3A#2<^&7$^
M-DM\);A;3F\Z1&W"]5"SR(E5>I*P?&3F#$,1TPT33TW8S(;ZVVV6RHV%2\ZL
M=2\O.-#/.MI4AIS*+UN)9\F9S]E?G=J4Z%C),O$N$1(`11LBU#NO.`%OOCLS
MRQ(XG!(_GC"Y4BLG,C(?0EQY8CWIH7EI>,2:VF8M^*WWK8Z#B94R<1&'25?!
MGGJ^H<X^7#]YK][9JXW`X`;ZSI!FG"OEI;82M;[;*O3PI7Y/+UOH[3&5SU+:
M%*NC$"J'ET)-L4%'V$"&D&U@S"`I&+#F66"@W?H:D$1<@R0IC"E+]!Q+V,*:
M4ES,NMF265Y@=OZVDI-V'"M8#\DQ]<^X%PR<A0V*[.N5F?42XX(AH9$).-*'
M+4M24CJQXKRE/Y7'6^C,]J6O=VO<3`<<BPQ*P2:^?..RN9!IOV[@\W2X*.B\
M1CB4R1!TT7>@,#)0C*EY)'2E*LE,>>];Z,Q2XWL!09.[(J#)^$#GU^MS4#8'
M$E-@S9MDLMZJK$`R.\$R2-*MRE`+0C#F,)(4MM#65+5A.76XR9F<,@T*\06R
M*I%W.LY/7!3."UQSLE&EQ)3[(AI(.2,@G-LE-,D+&RMOSI2K*%8\<)5XIQ++
M+B^27,RO#D5B_<&R\:DH\A>7:[(V<2)>97)1D0\TU)(B\)=>DI$1M]"FBU18
M3"WUL^9"G&T*\N<K\J5:UG:XREN)E1VMX5-V\EU/U&68D6F5FWHM[YS"(J1S
M;YYBOU^(BQT)<(,,DCC1VVOI2IU\A#+:%N9\..MQG[F></+;^PVLJO6YJ<%L
M49/G1NOY38\=!`%J07/P$="V>;0N.)6PL5*CF*=(M-Y7G&$D#+;7Y5XSCB:V
MV<?)VF%ZL;,I:QHI\J<%CES#RQ@F#\/BK>(8/AX@O#"B&6D$!BS=@""64CQ%
M]V4RSASU'$)S,7T9GM8$_P!@:Q':B=W+"QLI,UINR1U<PP<.56CWER&P!-=>
M_;8E0O52*S,&)>SAQ#:O;)5XX2ZG+7+-;VZWRG;C*KU#>='M,>HH@YN"*3.6
M>":$.>;?:DU5><F8!R8@C1L+:E*].EP)*HHGP;4>EM24-^JE;:5UL6;2JL#N
MC5<D"W)AWF"<"=2`XA]9"Q_`:4@!K2`>XV0TTZU&$5PQHW!2TI&2,O"U+QCD
MZ[>C,]J=%;XUC*DLA_7[D689:[13(T2<BY.((EINFV2-J-A;C6S1&\D#1]BF
M!A5N9\J4N.X\WAX*\+UOHS'V?WAK5+]9'`L&)]=MM$74H?-<",FVU2DU6BKA
M%/$N@,.MCQ<A60W#6"LY]$@=.5M*6E*\I=;SP9A`;KU_,U:(LY5AB8QJ3KH]
MB>'^L6)%L%IVN$VUX+)X&'0S#QZV"0?Z+6<O+`862E&64Y7A=;G&#M%[5BX5
MFYAEGU>8%F10#OJTUP7U,9$.]B#)I&(:>;:>9<=C9,8EOS)QAP<AMQ/BA:59
MEEGE<Y7)R!P/_]/OXX#@.`X#@.`X#@.`X#@.`X#@.`X&-=AZKK6SXN<A;4X<
M1&3M5D:FL9E,5_V8-+/-/'RL0^7%&$AS;WMF,)>RM:&O;MJ;0ES&5YLVL\)9
ME:AW7JBRIKTE+DSTP>25$R91$J3%R"#)F%H9VMPI@X$F'<C#B55:5+:>9>86
M$^X4XMQA6<(\E[5.L4MKJ]JL:(<@PA9<.,>2!ET5F096C),,]:B*\8W@D(C`
MJJX[;R<`LLX;$9:9'9]'++"&\7OMY.L?S']9]<#'QDDT=92\Q($;%M,.2D>H
M5U<)K67T[[DG(T4R1DUVF2KXS^$.(:P^G#J6T.8SG+O?K_DZQ<U#T;3==RS<
MS!/S+Y:8:`B7_K1V++P6]6JV%3HN:=?;B!S6)1-7CV0G4CNLAO--(4MC+C;:
MTR[6^5FLCXF:0U(W99JW2,.*W+69JWB23A4BXP.2Q?8JLP=G$::R\UA`\FS7
M65Y93GT\%EDOX3ZSZE\=ML29.L6-/]9:_B`98KD_+AS<76$U$"6E7*]E#4$[
M:-?SYA9:FJHZR]8`1-=`-!R#C+CR'&$NNY<>4M[-F]SSX3J]D!UNA4/U^<LL
MX<;8H%ZI^T=KXM?@H9T&@W2W7*GMOQD?7Q!'"DE7`CW[S#0V#%?E>1"O%2G>
M\R>#K]V9Z%2(C7-5C*=`O2#T/#^[2!]9D-%%,CE&$&)%]9D<9"F1<D>FWXH\
M^4)QE:EN94M6;<W-63$PO'D50;!7@[&P$*<Z^@<.3&DE,M("=:.]NAYO(!S1
MX9K3H!*'\X=2G"%JQ]&%XQX^-EP(Z1&D=*>Y#J53NI81E6J=<I#=;K]LKQ9P
M$30[NW<6T2<<\#(G$/.6/"FY)LO#@Q#+RV'6?!7AS7;;S8SUCU1.C-/B0Q52
MB[;(+!V3ILO58(;=DKY!4SKT$^QRIA]=5]6K?.)`SL8E+AC7K--M%,^=/F]-
M?)WMLOWR=9RK<%UIU[7'X!Z,)L*&ZR=9G84(@J)*CP8:WGPLS/5$4-^%6R'6
M7YZ!9.8:8PT0"3E>17F4*\F%WMR=8J*])46=U.WK0.:G'J/(S@=Q`-CI2+*)
M7_\`6;&QXQN/DU1A8CT,F<;:<:SA"UNL8QA3J_,I2G:]NWRO68Q\+DL.I:M9
M+>S>#5R#,ZFN,U4M8V8U;$C%!'2$I$8(;.C#7!BX65E2"!WA%C.>9Y;;F7&5
MJ:S)M9,?!CG/RQK$]4=90ST*2*59G2H"/K</'D&EPAO_`&)6Z0%KU,.0.1`+
M")#EZU&CI+4MK+^"&4/CN,.IPK&N]3K%U@:<H],L";_]>34=F%,VS.*5)2T:
MQ!QZ=O3<9:;NM]UV/8>'$3-P[9([BB,+'\5(RM36$H3+M;,?X_Z+A8U;TGIJ
MOBUN;C;Y(E):O%0D8.R%6ZN%*E[?6JI-ZSB([$@W'-BR\K*04R2(2C&%G%%_
MQWG]UYG,KO:37"IQW535D95QZB.F?5$#!LLI]:0!64N2&UM(ZC$L+I&(M/J3
M(E`DU@H^CVN,H0]EC+Z<.<O?;.?KVG68PRCKO6D#K,6>$@"I8INQS(<[(*EB
M!"%X/!JM:IS.1\B`@I;95#U03S)SA7B[A:L9QYO#&;;MY63#(?(IP/_4[^.`
MX#@.`X#@.`X#@.`X#@.`X#@.`X$<]R(WTW,(-U,RJ2C&:?-,.1&3*M"N*L[L
M?/O0\A&S$\]),/E-2(H+#HI\8H+*7VW$$(Q@I"MZ]?\`Z9N?A1(*%["'.5(R
M9DBHM@39UX`L<02;!,N%:FE@C2JI+H?AY&>S]H:V<R.,.WDI]UU!#F2LO90A
M["].<>O^I.WRQU7:_P!GX&1@&(^)-BJ^/;\'R\<$5J]F-)B9CLQ;9>R$D"LG
MY>667I.68(=<:\I+QF<K4I9_GSFVZ<^__7_E/Y?Z_P#?_A0J%:]_70;!%=L<
M_,RP:JM(S,;.P<'!0DE$O"R\85)1UF:.="AS;$:I<DT*()*"A9`2PMMUEY"\
M7::SX,[5EO>U-OML8V;%5^.5,%3E8TZBCBK="8%:*K>S)*;NZ<O24E%A,NM`
M^P)(3DAAPQEMI#?G6SX(SK9,9^Z[2W*PHR];;C]@46NWXNS59:&Z`_9P8YB(
MMD*J3-LNSH"7:^LH<TN2:K-X(S!%C/'8:=@X\3"7/,M1RDW&N+9]>$S<S*5&
MK0IF/IS(\WAQMU5AO!<0.\VMET&GR%XL9]$C'1W/XT5R+I),>.IE7@IG+7D5
MC&4YQS&V,\-3PR'R*<!P-=-.Z(':PWCNGL'2-HOE7+:S6S,1T/)03,1'U0S9
MEH:GW9(>:9?L#IQ-7^E0R'(_TRG6TX<]-*E9QN[9UFN&9K)MG+Q/].=K0#]+
MC-=[$BH*I:DVG9;GK$7,U/P4ZU0K/?\`36U)W5,U(U*"BAQ:W8+#3[/!J0.T
MZ*#5IP4/VQ;8BV7\-Y>6C]6.UE6-I9,KV.FK%FNJUDS.+D-I;;.9LP]+!ZB1
M-H?*B9=R2!P1>`--;%=)0[E_.2]C*>==>?#P^L9GI_%7ZL=L(5%:<E.QTO,E
M0HFK<2V"]H[<(&LI-!;Z8_7[13;SF/9-7Q>A=@I.?3AUQW&R2%$(*RA])`S/
M3TZGZM]JJ-*Z_.M'8Z;MR:X10DVI4GLW:LVS:!:P+KZ+L#SD'8%&1.2+/'PM
M@<>:<\4N%S#;KKBWF&WT1<STV3\K*(RNKS[$7.#"79IXR0M6L[>%[BOO#")-
MUEM.J[1#BS\L3KSST=/$U9`!*D^"FV"%KPASP])6KMF8PSKKUMN6$=L=*]B[
M`V-+[)BMAB0Y-MN(%OF*X+9[]!`U4N$8T=&QCE1EH)]#KLP1'Z;2Z](($BWV
MRR\Y1C.,95C#I*OZD]>NP0L_K26V-O&<LZ*C?X"T6W$/L+84`!<H"$U_MB/$
MKKU6A40L2D9B_7^)(.8*=+#GQ:N*Z6TVIS(C53,3IX0X#@?_U>_C@.`X#@.`
MX#@.`X#@.`X#@.!CC5FPV=GUF3LC$6[#HC=C[BUXH1XI!BWGM1;<O&J"93#R
M&!\(:G"*4HU#7ESEA!&&LJ7E&5J#(_`<!P'`<!P'`<!P'`<!P'`<!P'`<!P'
M`<!P'`<!P/_6[^.`X#@.`X#@.`X#@.`X#@.`X'%%M#Y5>Z>@]X]F-1:RV)`0
MU%I7;/MJ#7HPO7M)F"1!CNR>TY@A#LE)PI1Y65GR+JL9<<5G&%83CZ,8QSKK
MI+):SM;*L_\`?:?(=]Z]7_"O77Z.\UTU9[4_?:?(=]Z]7_"O77Z.\=-3M3]]
MI\AWWKU?\*]=?H[QTU.U/WVGR'?>O5_PKUU^CO'34[4_?:?(=]Z]7_"O77Z.
M\=-3M3]]I\AWWKU?\*]=?H[QTU.U/WVGR'?>O5_PKUU^CO'34[4_?:?(=]Z]
M7_"O77Z.\=-3M3]]I\AWWKU?\*]=?H[QTU.U7SK#YF>_UFV5KRMR^TJT1$V"
M\U*$E&$:PU\PMZ.E9^/`-:0^S7T/,K<&(5C"T9PI.<^.,XSR734[5VJ<XNAP
M'`<"B66R05.KTW:[/*"PE=KD6;,S<L<O+8D=&1PZRC"WU)PI>4,L-YSX)PI2
ML_0G&<YQC@\-5L+\AS>^#+/':JP_3P:])/#M?6;(CMGFX7*O3"L&&W<$#QH9
MJO'&6&TJ?&7C&%NY\Z?'KTQY<KO;X\->G9;N#V9UGN,+[%[DN$6,W6(@WZK(
M)%F81PETZ4PZZ]!S8LC$/*=2TE*O,SGQ2G&.;FNMGAGMM[;#>C'R3,;YG`=1
M[D"BJYLXYM::M8HI"PZ[=WAF%O/1CX3SCN(.RJ894XTE+F13<X4AK#+N&V7>
M>VF.9X=-=\\7RVU\YMG`<!P'`<#_U^_C@.!`&X[:["4RU]B9*.K=^N4/4-CL
M":EJC6N;(9%V*M9ZZZLL+H,:]5=.F'V"!5M&4L&,RN+)A]N38R!A#B&TC\+B
M<+6:[;[WDYR#@&-)S0/M[/KZMVXQNF[$:D,$R.\*+3;23&11-7EEAJ'U5-GW
M$B'(2HD.KL-GID<M/X(&&)[7II/LAV#V.=28ZWZ$EJ`_,+KIUE*L]*V[68X6
M+E]2Z5O,[&Q9IU0DA8^QU"W;+F(5?UPY'B2!-:*89<00@I`HLGM0;)VM[`Q6
MS9FHQ?7"[R55AKB2%BU-:OVX4',5439<;2%KB9$:!^JWY%Z$'/ET&)4L10;C
M#[;3HJ,$%#$]O50-X]D;!3;G<Y37ENA3R>QFE(>+I5MU'<Q)&E:@M^K-"';*
MC(L<&*B9JYM4C8T]:0W[*TW)"X>&(>0CV;#330Q%F_VN.TWU5KM+O6BSLS]Y
MI<#9IO+6I-UG1&NI:=8TY*.5:?RF($(.EX$':4F*6A2P/][IYJE994^\-&1<
M3GE65]LNR!#58+%ZSW0!F9+'>DQ#=8;9.=C(MZQ4<++"2&8D`]N1'A;*=DE9
M\='I:,BR5,-%@--F$U,3V_VO]J.R$GE[+_7*[`N$UR6E6_KG7FTQP0IZ)T_5
MK8Q'N(;I01T=7):Z9DXO"6\S\YB06.PP,0A9&8V+B>UVU?L7O^7-/:+T!>8]
MAZY0@H;L[3+(!EBN2--ZS2)0WLF1$B@2`1^UK>Z^1F4EXUHVCG1_O<J)84+4
MQ]UKA=K]]$:<K-LF-,NT?9-EV)0J0)5K;1MFA-$+O'6^#W.4U&U\D6-M<F13
M[]+%T\M]E*T.F0A;BFAG,K&&&)GRH-F[6]M3&MF0=0ZR3\#9:YKW;-QK$G8=
M>[2L4"=8*-$S::WKP(B,BX2'MM@M<[!.)$,#DF6#6R!O9C$M/LDO1<3VFKJ&
M^7&\JV!BVU"1JJ*M?9VKUX@^N6"N,6N`CB%*B[7$-V3#,B;'20#S25N*''0V
M<V2VS[D5`QQ=1^??VU_O>]P_\7_:G_,!L7G?3^L<MO+`/-(<!P'`<!P'`<!P
M,GZ2_IGU%_YGT'_Q7$\7Q1^CY<@3)&KS08%PD-?D.A*SFZ10];)DJX,RM#YL
MF"W<(B?JR260FW/(X>"8*UG/G<9<2G*,^9U03U#L;L$S:M95VX6>QVQ-@G*P
M8L"W5RC1%FE]5WS7VW-C*M5G?I]'I\=&6/7$TS#5@I800`!#T*E#@Z2Y9#O"
M\-B7"'`U)?,)L24K'7^HT6,,4(C9-Z:9G$-NI2L^OU4%R8<`4WY\.+85/.QS
MR\XQE.,L)3GP\V,9Z?CG-KG^2\.=[7M[F];VR*ML"[X%1SV,$"J6I(TG'NY3
M@V+,PG&?,,8UCP\?#.6UX2M/@M"<X[69<F5>S-U@]A7B`ME??P]'RE%@W,M*
M4C)(!:39A)<<:A"E8:,">\4+QXYQGPPI.<I4E64\#!$+,RE<F8FPP9Q$9-04
MF!,P\D*OR%1\I%E-&QYPR_#/D($+80XC/A]"DXX';SK.V?;W7&O[UY&6_MI2
M*I;/3'5YV$?:.!`F/(POQ5YV4^\\$Y\<^*?#GFO%L>B<R5>_(IP'`<!P/__0
M[^.`X#@4EN`@F9HFRM0L2U8S8\>),GVXX-$T7%"/.DB1A,JEG!S\>*0^MQME
M;F6T+6I6,8SG.>!5N`X#@.`X#@.!3SXF*E5`*DXR/DE14@S+1BCPQC%1TJ,V
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M<7E<7T[Z.<'0X#@.!JZ^6?4\OL#K:);H$4@TS4]K'M4J,.E3J_LG(`%PLZ6E
MA'BM?U802(4ZOPSAD1EY:O!.%*QT_'<;88_),QS`\[N)P+IH],L6Q;A6:)4P
M').R6V:CX&&";PKP=.DB4#M+?6E"_0$8\^7'W58\C+*%+5G"4YSB6XF23-P[
M=*561J53:E30W,O"5*LP-9%=RG*<NC0,4)%,.93E2\IRMH7&?#QSX>/\.>>6
M\VUZ8N;@.`X#@.!__]'OXX#@.`X#@.`X#@.`X#@.`X#@1HZG?T6VK_$OW1_S
MB[VX6I+\(<!P'`<!P'`<!P'`<!P'`<#SE"BG"D@G##F!&#O"F!E,MD"E"D-J
M9(&)'>2MI\=]I>4K0K&4J3G.,XSC/`T;=D?B"S,3DC:^MUFAH,20?=+?UM<G
M3QXZ-=<4IQQJKV80:3?2&M2O!H,UC^)\,_[UE.4H1UU_)\;.5_'Z0]A/B:[=
MRDI["1B:)6PL/^FJ;EKJ$4!EKSK3DAL>`'F992/*GS82H9"\^;&,XQGQ\-?L
MU3]>S<=TX^/W7_5A>;A)26+_`+:+#=#7:R`<`Q=<#+:P@V/J<6XZ2X,LE&<M
M/G/+R2^SXH2EAMQQI?/;>[<?#>NDUY^6P7F&S@.`X#@.!__2[^.`X#@.`X#@
M.`X#@.`X#@.`X$:.IW]%MJ_Q+]T?\XN]N%J2_"'`<!P'`<!P'`<!P'`<!P'`
M<!P'`<!P'`<!P'`<#__3[^.`X#@.`X#@.`X#@.`X#@.`X$:.IW]%MJ_Q+]T?
M\XN]N%J2_"'`<!P'`<!P'`<!P'`<!P'`<#YO/-#MK>?=;99;3E3CKRTMMMIQ
M_"I;B\I2E./_`$YSP+28V'K\F::K8UYIQ%A?0EQB!8LT*[-/-K6IM"VHMLU1
MSB%K1G&,X;SC.<9Q_LY<7TF9[7CR*<!P'`<!P'`__]3OXX#@.`X#@.`X#@.`
MX#@.`X#@<?\`;_F>[0]:=K]B='42AZ#EJGK_`+8=N(Z&D+;5]AGV(EB1[-;8
MG7E29</M*!C7G4ERKB4Y:$9QAM*<9QE6,JSUUTEDK.VUE4G_`%"/<_[LNL/Y
MF;6_KIY?UZ^ZG:G^H1[G_=EUA_,S:W]=/'Z]?=.U/]0CW/\`NRZP_F9M;^NG
MC]>ONG:G^H1[G_=EUA_,S:W]=/'Z]?=.U/\`4(]S_NRZP_F9M;^NGC]>ONG:
MG^H1[G_=EUA_,S:W]=/'Z]?=.U/]0CW/^[+K#^9FUOZZ>/UZ^Z=J?ZA'N?\`
M=EUA_,S:W]=/'Z]?=.U/]0CW/^[+K#^9FUOZZ>/UZ^Z=JO'7?SX=PK=L"BU2
M2UOUK8CK/<:Q7CW@:?M!LUD*:FP8TIT-Q_<9+#93;!*LMJ6VXC"\8SE*L?1E
M^N>Z=JZY><6S@.`X%K72V1M'K4K9I7.5#1K'F0.A6$O&E.J2T($QG.,^#I1"
MTI\?#.$8SE6?R4YY9,W"6XF6KJ^;)M6PY%TR=D'?9^JI8,,.XMN*CF_'/D0P
M-A7E<=2G/@IY?F=7_M5X>&,=9)'&VWRTQ]T<Y3N(52<Y2I-.A,I5C.<9QG!\
MQG&<9Q].,XSSI/#*8/Q_?(/=:)=*WIS<UD-M&L[0>'`05BL!CIDQK^6-6@2)
MRJ6*RX074B2E-L/LD.90`A6'VEH;;=:=Y[Z3&9.6]=[G%\.DGG%V.`X#@.`X
M'__5[^.`X&%=DW&<@KKKNMXDDT^EVB.O1,_L)P`4QN-L5?8KKE2IONI-#\)`
M.VL22E3\'',NLJ1`K";\A)K#B"Q"D3N]L&@JO,%>-?YV";4[I-"`V&*<EJ>7
M,5*,L>SH^4(>JR:5,"P$I`1%`9+::-D6V#6CLMN%#DH':.BX\+WD^ZMJ;@9"
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MY]1AOO81,-.ABR"F2$-S`KT/P8^[^9'OG9XB6G@#="I*%BAW2HXV$V@/+_7H
MN"=;DBR`*DT<:(>BY*JWLB1&>'-*60N/PPVVOW&76(N./+VS_=FYU:#V<>G0
MT]9"=<8V<8I";07'MV+%-8W5)BQT"XO6XQ*TC*UE&@'>L(@F.5:H?"DF$%)0
M[4QXY7=:^WME@J?1+!":?%LT]<+_`+VH?V09V"0#('%Z,F+X`[B@$8H)V;O+
M;*!H+K]:$>9B&SER`2'"&6G5D-##'".]6PIV:(@JMHD%"X*W:P"M<O-W.U($
M"I5QM77R,LEJBXA.K`II;=:@]WOO%XE$1*XK,!(+-:2L1T3@PF?H_9I^W]<P
M]\DJF]2295^08772))R8>"<C#'8XG"I/ZIB0SD*-&=]-T7#PZVL)5ASSY6VV
M1^?/VU_O>]P_\7_:G_,!L7G?3^L<]O+`/-(<!P'`<!P'`<!P,GZ2_IGU%_YG
MT'_Q7$\7Q1^CY<@3)&KS08%PD-?D.A*SFZ10];)DJX,RM#YLF"W<(B?JR260
MFW/(X>"8*UG/G<9<2G*,^9U03U#L;L$S:M95VX6>QVQ-@G*P8L"W5RC1%FE]
M5WS7VW-C*M5G?I]'I\=&6/7$TS#5@I800`!#T*E#@Z2Y9#O"\-B7"'`B5VX+
M(;JM6!1E6!BI\@A_PSX84Z''N('2K'FQE6/`M>?X,X\<?[/HYO3S7/\`)XB!
M'.CDU,=S2AR-RJ98=0XX#58(4M"?'Q'(6X><EISZ/H6H0QIS_P!E>.;G@1/Y
M1VZZ3FY*RZ9U'8YE3ZIB?UC0IN542I"B524K58HXY1"FUN(4_DI]?GRE2L95
MX^&<_P`//+?->B>(R=R*<!P'`<#_UN_C@.`X#@.`X#@.!1DURO)L+MN3`PR;
M6_#,5QZSIBP<6%ZO"G$R8L"[-88^LG(8:2,>(;%R[EA#[JW,)PI2LY"L\!P*
M,?7*]*RL%.RD##24W5GCR:S,GQ8)DK72)4!V*E'X*0(8<+B'I*+?6,0H=;:G
MAUJ;7G*,YQP*SP'`_/*[/ZIVC/\`:SMS+P6M[]-1)O;SM8L.4B:?89*.+0CL
M)LAE:Q30XYX8A*'FU(SE"LXPI.<?PXSSOI9UG+&WEA+]26Y_NBV?^8-K_FGF
MLSVR?J2W/]T6S_S!M?\`-/&9[#]26Y_NBV?^8-K_`)IXS/8?J2W/]T6S_P`P
M;7_-/&9[#]26Y_NBV?\`F#:_YIXS/8?J2W/]T6S_`,P;7_-/&9[#]26Y_NBV
M?^8-K_FGC,]A^I+<_P!T6S_S!M?\T\9GL/U);G^Z+9_Y@VO^:>,SV,E:8TQN
M$7<.J"2=4;*'''V517R"'Z+:&F6&6K1%N.O/.N1:4---(3E2E*SC"<8\<\EL
MQ>1^BQSSNIP'`<##6]:&3?:$6%&M^M,Q!+<W%,)QCSEO#-/LD`HSXX_+*$(7
MA&/X%.I1C/A_#C6MQ6=IF-6Q2TA((<,S[5`B7EE9?QEKVZ1\*R_E["_#+?I8
M1GS>/AX>'T\ZN#0YL*U.W>\6JUNJ<5B<FSC1L.^/G9`R\IN-&SC.<YQ@6/;:
M:QCQ^C".;&2.M>@K7V1VW6=:UD8E(II;)ELG&FO,/5JD,^UF;G"G5)4PAQD9
M66Q6UYQ@DQQIG&?%>.3:]9:LF;AV=148%"Q<;#1C"18V)`#C(\9.592.$`.V
M*(PG*LY5E+3#24X\<YS]'/,]#W\!P'`<!P/_U^_C@.`X#@.`X#@.`X#@.`X#
M@.!&CJ=_1;:O\2_='_.+O;A:DOPAP'`<!P'`<!P'`<!P'`<!P'`CQNGK50MT
M05BC3G9.J2UDBS8HVR5=8K!ZVCQUC/.D"F#E`$O*9<4G+F6TO9QG_K/H3X:F
MUC-TE_RURPOPNZM&E?7L&YKY+0V'DKQ&Q4%`0<@IG&59RRY+$KGF%*5CPQE:
M1$?P9\,?3CPW^V^F?USVV>:4T!J?KU6,U35-2#KH)"VGY4_*W3IV>,:1E"3)
MR:,6Z?(.I\RLMHRO##'G5AEMM.?+SG;;Y;DD\,R\BG`<!P'`<#__T._C@.`X
M#@.`X#@.`X#@.`X#@.!&CJ=_1;:O\2_='_.+O;A:DOPAP'`<!P'`<!P'`<!P
M'`<!P'`<",N^>X/7SK?Z(6SK^"/:CL,XB=?UYE^S[`F'2\H2"V)58=),@,@]
M:\)8?+P,*XK\G#OC]'-:Z[;>)PELC$-;W!W"WX\P_K72L7UKUR4I7_\`('8M
M@N9V4:%E649?@-(UV1B519^$J2IO,U+-CJQXY\B\83A=QK/-S?L<WX3LCQR1
M(\$4P]V4,&#&'*DR&11GY$EEE#;Y[PX3(X;#I;J<N*0RVAI.5>"$X3C&,85[
M.`X#@.`X'__1[^.`X#@.`X#@.`X#@.`X#@.`X$:.IW]%MJ_Q+]T?\XN]N%J2
M_"'`<!P'`<!P'`<!P'`<!P'`\4E)1T-'G2TN>%%148(0?)2<D4P#'QX(C2GR
MC3C2G&AA!!F4*6XXXI*$)QG.<XQC@:@+QW'VMVON2]9=1#'-;Z*`FLP6T^X-
MA;`BF6A$82J8C=0"V-\#!TS@-S#;+S;;TCEY]MU#8;*4&.=9I-9G;^WIF[>O
M"0'7[770W0UO(A:7>-=V'>1[R'IR[;&OD):=SV*4DV&B7"%S,Z2@U@R58+0Z
MX/&-#(?2K"U-JSXJYG:[WS."77XO*.?=*/\`EN7M697UJD(@K3"613*XW2<:
MIB9\5+8+*2Q;0WLDQRQR$PDUQ_"?JYUP$AI+;F&6G,^DC6GZ\?R\E[?#7>5\
MBGR7=4+4#!]B8!<V.ZMQ3$-M*@14*S+A-*R@M=<N=(#@&I;+2U_00@B1:;7X
M84E2<>3F^GX]OZLYVGEO(Z8=\-4=RZZ:JMM/4_8]>&:(MFM9DT<J2!&<6AK$
MU`2#38R;)6U$.8:42AEAUAU24/LM>HSEWEMI=?\`#<LJ<',*<!P'`__2[^.!
M3)J5'@H:6G"T/."0T8?*E-C)0LAP>.%=+?0PAUQEM3RFV<X3A2TIRKP\<XQ]
M/`P-1>U>E+XYY1+=%P#;T=K`Z-)M4W6(@6:*VY%FRM/@(=Y,^4DVSOM`.-/1
M^/`E#WE2A*\*QGA<5?\`%;KTU.CPYD)MO64P)89$.'@"HJ^U60'G):1'KQD?
M%P[XDJ\U)R)PENBG66&<K==;DQ%)3E)+.5D5&P[3UC42B0;7L:AU@T/V/O`[
M#;Z_"E"_6DA#Q,9[D>2D!G6/K&5L4>*QYL8]8@X=M'BMYO"@I\SNG3E==@&+
M!MG6<$_:X;-CJS,S>ZM&.V6O)#=D53T`V;*L+F(;$>.X_DH?#C'HH4OS>7&<
MX&%"D.R'7Z+EH:".W9JQF8L!$J-%1R;W6GBGU04-8Y^9?>;8D7<@@Q<549)Q
M\E_TAVE"+;4O#GE1D8JY9O:U`@18LXRSPB@)<&0E@Y-N8AVH?,+$2\%`R\T]
M.&GB0C,=&3%F`&=5DCSY>*0A"5J\<8#S![IU!*)<^I]IZXFG43;=82/%7NIF
M/.VE^0"B!:PC")C#>+"7,20P;8BE)>440TUY?,M.,A\@-Q4B2TU$[W$)DWM?
MSNO8?9D2ZS#R!,_(UVP0(EAA!@*V(R1,2%CEA#V618UAITPDQU`[2%NK2G(4
MZ>[#:)K$0U.3^X-<1<<17H:UAJ(M\)[R0KECA;#8Z[+QD6V8N4DQ+#`5&6,`
MR.RYDT>,+6SA:1WLH&'WN6\-<TVG62\.6"/LD-4)F(K]D34Y6"F"H66FIZ.K
M8P<HG,L*+&O,2<HUA])#K2F6_,M6/!.>##Z5C>&KK5#@3`UR@(I,B];AQX^>
MFH>*DEN4.8M$';GAV'9!34E&0YU*E59/#<(CWQ`G"F'W1<8>R'RUSO;5&U&R
M\4V[5X^1`M=II9L!F:A_M"+8*C8KE6I(1R(8D""E-%E:_EB074X4V='AK*8R
MMA.5X&''_M#Y5>Z>@]X]F-1:RV)`0U%I7;/MJ#7HPO7M)F"1!CNR>TY@A#LE
M)PI1Y65GR+JL9<<5G&%83CZ,8QSKKI+):SM;*L_]]I\AWWKU?\*]=?H[S735
MGM3]]I\AWWKU?\*]=?H[QTU.U/WVGR'?>O5_PKUU^CO'34[4_?:?(=]Z]7_"
MO77Z.\=-3M3]]I\AWWKU?\*]=?H[QTU.U=*OQ,]EMN]K.K<AL_=<\#8KBQM6
MVU9J0CX*'KS"8:)AZJ6$/D"$#"#RXV_*/9RYE'G5YL8SG.,8\.6\DN(WK<QL
MXYE3@.`X#@.`X%/EI:+@(N1G)R1!AX:'!*DY:6DRF`8Z,C@6%DFGGFDK:'$#
M$':4XXXXI*$(3G.<XQC@:'=T;JLOR#2\["5`N9JO2/7UD'A9J88R5$3?8Z]!
M*1(,03*_,.='42*9:26ZWC&'4MY9<>],L@1(/?633S_9SVV_X7Z"$%%QT=#1
M00<7#PXB(^(B(P5@"+BP6U+6@..`%;:%#'PXXI>4-H3C*UJ5GQ4K.<G-JFWA
M29O8?:6S5*`9]0^4?JR%/+2K(P`:*975ER)BDXSEL0-C&5JS_"K/@E.,J4G&
M=3PC?AU+V"7KP&IZ=FIB2G*ZT*-"P<Q.&O&R04EG&?1;=+*<>>4!)%*]-MCS
M9;%4M"&L):QE..6TSF_+IIMSBIT;$H%#V;4)FF[*K4#:Z?*"/(E(JQA"FQ^&
M\,NI]ZC)2%8`-"0M2V2FU-OC+QAQM:%8PK&);+F>75Q5_'[=;'1>YG7:1K3Q
M2")K9U9I4JP,M>$&5R[R+-6L#);2?%#XK$7*N$9PO&<(6PES'@I"58]6\SIL
MY3S'<5SR.IP'`<#_T^_C@4R:BAYV&EH,M;S8DS&'Q13@RD((;'D171'UL+=;
M>;2\EM[.4Y4A2<*\/'&<?1P(NRO3+5,Q&"Q1DO?<"@CZB&$P/8`1\-HTA#2T
M30,OCMPN`I%4>]+Y-=P4T^ETUAI7@EM*FEES5DPW12F5"=UR]3+40)4*6J(:
MGJK;JG6;T1<(NNT_05%@8)R:E1QFX:+#@NMM6=<P@-]]R4CF3TN-%,MN8&65
M9WJ;IN9E$2PL.76GA[72[L`)6'0(R+BK+1)33\G"R$7%N1I0(+3B="5(9X9"
M,"^UB?(VVWDHU1(RL\[IE1I%>N*\38)U6K=9Z+A=*0M-8=*C[$]BH6BAVB@V
MYS8<5)1\N!+4J1U['DB>S'&?5(LMD+(RE"F'!E;DGU'ZXZZB9!Z>E;2.S:[Y
M+2T>V\8$>83<+^)O&*FH:M5F'K+C<W]H8CL%;651F`#4-"$>=IMI(B%MC-7@
M%IW2.X:@!$U2SR,M6ZQKN2T-)'QQZR)-ZL22:%;FX]Z1DA598E!40L80.ZEE
M8Z`S7FVVDX6RI@9L>6M]7]+:CV`%L.,NEOK]RS#3X"72[;$LID:G+W<"RV,`
MF)S#M,D07V\F8A\DG#>'!U-##*?0(46.6+;68*UH^H5C6^O=3"E3<C1=:B4^
M,@X:<?BY9DZ$HD")!5J#GTDQ.6Y6.`5'C'8\4H>^L!FG<.8PC".$RP>=T+T9
M)"0@!SUY?$KE=CJI"C8LC#`L;`U^,WK"4^-"#&BF0Q`J3!]B[*%%L--H89#<
M%9<0ZV&PE!<LE9ZOZP15YVJ!HGH\.>:I(+QPTFPY)A0.N;Q,;%I-:CWC03!6
MH2OVNQR+[*7&77\H-<:6ZII+2&QFK9D^E^C)L&<"EXF;-^U"9QZRE)FG8XJ9
MEYN5VS-_:!:HAF.9BIB(EMY6D@/,>@-AIZ4\ZVG%#!Y'&:N35O7"K:LO4Y>(
MTYZ4D9.,LD:.:<P^U/O)O&T;KN:X.6>0%D6X*Q>IL&^R1,1AJ*CU0PYQ8Z%.
MH)5Y1EP+]M?[WO</_%_VI_S`;%YWT_K'+;RP#S2'`<!P'`[/_@-_N-RW_GM?
MO_#U%YQ_)_9O7PEGO>Q]CU[YJ,12ZEM(#5Z*A*L6B<@$0Q=1/A6M_P#45VUR
MK)-:F9&[B7EW3AU[$BQ\`BRWE;>=B,*<022SAN82GTBNYKUV!F]_6&99-CV`
MW#+F4$MSKVO&MA6EK4Y%C;/8&DV[,1JY$.N228V@[!RG<$XP_P"IPE98X#@.
M`X#@:&OD9W7>NR._J)\<VAY=0;EAEHU6Z)X1]Q(^,+#^T+E?.<94WEV!IM78
M7,RK*%.9*?\`1&QC#H[C3G;2376[UC;FXB6VVM5U71=$TQJ"@QWU;2J76Y0*
M-PK+>2I&16_'JF)B5<;2W@F8E2O]Z)=\J<+>?7Y<)3^3C.MS;;Y9WXQ/A@+F
MW-8\)082$N5RO;2,OV"YN1*"RG4)\P4;$0T9%,1@F?'.4L//1^2'<_1EQ:DX
M5XX;1P+_`!GGQB1R!E+02P^T\.MOQ\Z'VG$K:4CP^GSI<3C./^7@2*^3KM-$
M]<>MMHB`)%"-F[=BI:AT..9=RDT0>4$]C:;=G+:TNBL5J&-5EAW'CXR3PJ/#
M*5+4GG^/7MM/4>C:XC3'\,G6DS96^2M\3@2_L3I%I[ZJ>>:2H:8V/.Q[X44$
MWZB?*[BN0Y;\BZI&?..5['.<>#O.OY=L3'S6-9SEU;\\[H<!P'`__]3OXX#@
M.`X#@.!C+;>L8?;E0=ID^/"&PY)PIY84_"NS(3S\>A]Z*+&6#+0$[!3<%->V
MDHZ4BY`"2CSPF76'T*3GQ"';/Q]P^+#)SLEM>R6/Z_5EFX-V"':<-V."]7Z]
M4RF]E2D),P1%H/\`J2,-('?;2&@:9/\`=I:RRAP(B8:[?9<)_1V%6/920KK(
M+LUGUCOC44A9RP<HG#('?/ZM(Z0N$O+-FOGG[%J<%K(%#9@RX]B4=2KSM"J<
M4\FIE/#A#@.`X#@<!'8CJIVAOW9OMA;Z)UNWY=:G-]NNUS\-:*EI[8=CKLNP
MQV)V6&\]&3</73(T]IDL9QI2FG5X2XVI.?RDYQCMK9UG+&TN?#$?]B3N?^R+
MV>_`/:WZ)\UVU]QG%]']B3N?^R+V>_`/:WZ)\=M?<,7T?V).Y_[(O9[\`]K?
MHGQVU]PQ?1_8D[G_`+(O9[\`]K?HGQVU]PQ?1_8D[G_LB]GOP#VM^B?';7W#
M%].M?X2]:;'U3TWDZOM'7]VUM97-SW>4;KM^JD[3IU<87!4QD611$V("./4`
M2Z*ZEM[#?IK4VK&,YRG/ARWN=N&]?#;YS#1P'`<!P'`\AYK$:";(E95@8`0D
MTC*$Y6O#`K*WW<I1CZ5*PVWGPQ_MSP.:?X=))[;W<?L3NVVJ:*MTI3[%8/*Z
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MGOH1B1L,V3X.S%CEW$?0[)2YGBXOP_(:1Y6F\);;0G'EMNUS723#,W(IP'`<
M#__5[^.`X#@.`X#@.`X#@.`X#@.`X$:.IW]%MJ_Q+]T?\XN]N%J2_"'`<!P'
M`<!P'`<!P'`<#P2H")6+DHMQQ33<D`8`MU&,96V@P=P=3B,*_)RI"7/'&,_1
MXXX''SU"VU+_`!K]PK7%[UJMB#CL0L]K2[BQXOG-'`(F(J6AKI!B$J'8L$2Z
M5`LN,.M.X2^`4MQE2\^5M?IVG[-9ASG\;RZ'*I\G_1BWM(4)OJ$AG\X_C!+7
M`7"K.L*\[:/(LB;KX<<[G^-3GQ:?<3Y?'/C^2OR\;^/>?#?:>UG[6[6_'%(*
M=F+7O;7^9%3:77I.C&R]@DR$Y]7&,D"TZ*GL'$_Q6<9]1AQ[&/+CZ,*3C-FO
MY)XC-FE\M6FY/D-T*"I58ZNZ\V/M6XR3S4?$SNQ/+&UI!CZ_(TN(I]8'#M]I
M)=SG"&V'W8SP<5C.<.I3EM?2:;?_`%8QC7X6%I#XN>U?:VV8VCV3DY+4U:F7
MVS#R;0$WC8TJ%Y_43'5ZA(0*/3@4(RMIM,@D%(>,I4T$^W^3E?R:ZS&O-:FM
MOETB:#Z\:FZT4077NHJN/7H9"TE2ASJ\FS]EEO22T]-V69=3@F4DGDI\,>/E
M981X-,-M,I0VGA=KM<UN3'AFWD4X#@.`X'__UN_C@.`X#@.`X#@.`X#@.`X#
M@.!&CJ=_1;:O\2_='_.+O;A:DOPAP'`<!P'`<!P'`<!P'`<##>W^O6D=^QC4
M5N+653OK`K+K`!<U&HQ.1+3ZDK?1"60)0EAA,/J3C*_:%,Y7G&/'Q\,<LVNO
MBI9+Y0)G_AFZ33#ZWHZ$V-5&UN^HD6`V`<0PTCRYQ[="K0'9"LM>.?'Q4XIS
MQQ_SO#QQG?[=TZQ4:Q\.O1^`=8=DJ?=;EZ.<JRW9]@S[+3ZO46M.7T51RK^;
M",*PGRX\J5)3CS8SG*LJ?MW]G6)Q:NZ]:(T8*I.JM54.@*0,IHF6A("/&FR1
M<8RI:92RO-NSLBVG&/IR22YX8_Y.8NUOFM8GIB2V=YM`PUF70:-,3F^=EX2^
MK&O=!PCVRYMK`V4H)5)RT6\U3*\V(ZXE#ZI&4$PSGQ\_AA*_+9I<9O$3,2?J
M,K-SE:AI>R5@FESDB$V7(U4R3C9DV!>=RI28XV3AG2(DHUEKR^MD9UYA+F5)
M0XXG&%JS57'P'`<!P'`__]?OXX#@.`X#@.`X#@.`X#@.`X#@1HZG?T6VK_$O
MW1_SB[VX6I+\(<!P'`<!P'`<!P'`<!P'`<!P(7=J.[VL>LBXFH^T/V7NZWN"
MA4/3%/<0_99N0DWFQ(E<P^AHM%:BCC'D-MNNM.D$>.?;#O\`D<\F]=+MS\);
MC_+":NG>]^S1(\_W;W(>-4'U8):ZP:-DY"K:W&%6X@AJ,OEM:?3.WDMI/@E[
M*<H]%Y&5"EX;5X<O::_TG^TQ;YK%/9GNCK7XSY*#TIJ7J4IN*DX%B<%G`I$&
M@4R4<=P4.AT>9$@+7+W6:CB&LI/]ZH8M'FQ_&*2M"U772_DYNQ;U^&&M??/#
M1)`\43:&@K/5@%J0V3-4JY1MS6WE6?#)'U',0E,6VPWG/BI*3'E^7&<IPK/@
MGEOX;\;)W^S<CH[L)I_L=44W73MUC+=$-J98DQQ\NB35?.>;RZF-L4&:AB4A
MC<I0KR8>:2AY*<K:4XWX+SRNMUN+&I9?#,_(IP'`<#__T._C@.`X#@.`X#@.
M`X#@.`X#@.!PR;G^1CNGIGL%VAUEK+?$_5*+5.VW;(2O5X2`I)8\8.7V/VA*
M$M-$RE8./=PZ><ZYG+CJ\XRO.,9QC&,8[:ZZW6<,;6Y35^*KY`>X6_.Z>N]9
M;=W=.W6BS,!L(N3KQT%3@1BR8>DS4G&NK(AZY''HR*>*VYC"74XSE/@K&<>.
M.3?637B$MM=8W.39P'`<!P'`<!P'`<!P'`<#7!W.[FRVN)5GKSUW&!M_9BV1
MKA+JW/3)KFF*PXPEPF]WIWTR!VC!Q'DO`@.H7E>5-NNMN)<&&-Z::9_EM_5G
M;;"$FG-;,:E.D[MB9DK/NBUK).O.Y9M[)5YFY*20GZT:BI9WSEUF$>7YDI&#
M6VMQK*4$.OX;;\F[SQCAR[5$+M/O3=-$W6*93=L;%K3_`-DX0ASZGN5@"8(=
MP9,(\Q@K1^!3<*1C"<I=0M*DX\,XSCFI)9S$S?;8!T6^2*1VM8(C178Y$/(3
MMB5B.J.P%A@@BV*5\Z5A5NUQ#0[,0W)GJ3Y`RV$,MOOI;96SEYS#JN>VF.=7
M37?/%3P[`=">K_8Z-+:NVM(:%LKK2TB7ZCB!U6Y@O9POTWG)&/%2-.(:4XK.
M&))@T?&59SA&%>"L8F^VOBMV2N6;2>R;;T6[NR<56+"7*P]"W+8-17AE+:@Q
M;W2H6[E5.9P7&X=(99+(%#R8'G.7<AFI;5C*\)SA7HL[Z?Z<YQ7;!SRNIP'`
M<#__T>_C@.`X#@.`X#@:]MM1W:)C>%RGM0*M)\8.S3,UROR4C*BTB1<QJO<`
M%B<9(G+`W0P!@;G(54DEA4:\3($,>DR\-G)1@L:XQ&/S=Q_(@TBS%`Z8B&D,
M1<O(5"*F*@U('R9V*EV>FHB.DC:WLI<>$T];*AK2&RAST'VV[*20XO*&'G1Q
MPO+7.Y^VUYE)R1!K%2E];N;:V+3HFV@5L@:3@!M:;^W529(&7J9UP&/GH&;U
M92(`D:5%(9(:G91;?H/-84V/4X7S*77M0'I33L[+8I%.OU@UK+3^\;+.00L7
M2--6QZOQ,WDJ3!E+D2AZI:_*(D&3V79)A)@$>X8B524R-%3(XRMZ1N_<V=BZ
MY)0%">C$3<3IVXDQ6%T\.8A7)C>NNR=AZ[DY"<6_'.O1&AIZ6:>/0.AS,C&$
MY;90I(OO1Q[61/[;^00)@PR'U+7G%N44*=B8$ZEOGGL7$G7/9*?-J$O,PNRU
M1)*0=DU'7D$E]E([?MK*\_ZCS8SQ;8X38U1.;-G"-BYV+`(@Q(W85AC*`X@=
MH;,Y0F2EO5V<(']V04(:0`0AEUIW'BK+'KYRTX^X"$1^?5VU_O>]P_\`%_VI
M_P`P&Q>=]/ZQSV\IS?"7_P#Z':H__5]J?_UU8N-_ZFOEV(]CHRU2U'J;%,&L
MA4V)O;K?-D-UDL\0A%2KN^]=3VQGY3V)8B3(%C7$;+++%>]5!3>/20TZ^ME"
MN#K%D:EI>SX7:TG,6',FU%*7V'^V!YY62!+DNV[U"L_7-44O,Q(K(_5III!\
M2^I3+&!FC!A$9\H_HCA+/A#@.`X#@.`X#@.`X&O/Y%>Z+/4;4X[-6P/([HV3
MDV$UK$K9P8F,RREAJ5N4@'].'Q8+!K216%85@L]UI&4K:2_E&]->U^S-N/\`
M*)NH.L4SURT*#;-EO&3/8?L%/IMVWK'-//R$Z"-AMV8`HY$@5EUY;HIQS9<H
MKS84_*(SCS.-L,JQOMVO'B,;3$GM4N5S:U^V6M;_`&S:(\I6:=89V.358D11
ML7&$EC8)9,E5NL9=:0I'JMH=3G./X<85CFI>!&T+3>ZXTP21`U[>`S@"6#0B
MQX60:?%+%=0^,0PXEO"FWF'D84E6/IPK&,\N8.NV1W;$T/K</OS97FB`HG5$
M+?[,*XVL0E,B;709!<&.,^RRZW)GS!B0AV5-I7DAU"/+C.?#GFQG;K/;T9XR
MX]>KVN[1V_[F5,(T=TI^[;.-V;L<P1M26(^O,SSEPNAJW<>"`TDH4L492\XQ
MDLEEO'BI:4Y]6UZZ7_#G.:[@^>1U.`X#@?_2[^.`X#@.`X#@.`X#@.`X#@.`
MX'#)N?XY^Z>YNP7:'9NLM#S]KHMK[;=LBZ]81)^DB#R8XG8_:$62ZT-*6<$]
MK#1X+K><.-(SG*,YQC.,XSGMKMK-9RQM+E-7XJOC^[A:#[IZ[V;MW2,[2J+#
M0&PA).PG3M..&$)F*3-1D:TL>'L<B>O)1Y3;>,I:5C&5>*LXQXYY-]I=>*26
M5UC<Y-G`<!P'`<!P'`<!P'`<#FGAIIKM[\S?DLCJ)6D:3L=DBZ]$OK;)!;#T
MD%)M`>S\<99?%D=H(7+*\<+2XV^I.,Y3Y<X[_P!?Q?>L>=F]3LI3R[/KY1T>
MTM\VKFIF<L-I4MQZ.]%T>22VA.,^*F&G$OYS_L0RKP^G/.6MQ3>9C6OSJXG`
M](C([[Z$F2$?$`HPM^1F)8M@")AHT9M1$C+RIY*VAPHR+";6^0\XI*&VFU*S
MG&,<+.6K3Y%>^Y'9V4A=%:8S*-Z*I4@$#'N-,DHEML6*.0B,BYDH##>"VX(-
M7CB)`4G#KSCGN2$>MEAD76FG7F^72WXGANB^+KI&]U:U<5=]@1B1]V[2$#?L
M`SWE6_2JHUE!<12DJQE>&I%;ZO=RN49PE1/I,YPKVB5JY?DW[7$\-:S'^6TS
MG-HX#@.!_]/OXX#@.`X#@.`X#@.`X#@.`X#@8JTWKTS651EZV?(C2;\EM7>V
MPD$B-.LM-![;W?L/:T='+0]XKR3$1]T:$?5C\A;S"E)_)SC@95X#@.`X#@.`
MX#@.`X#@.`X'(CU3V'']<OE&L)&VI-FM1KVS]T42V6">?4*+&E6$RQLQ$N>:
M;A*6XX^P("RLMU:&DBD9(4OT\9SGT[3M^.8<YQMRZXP3P)01DZ-,$D0"D94.
M8"0R8(0C"E(4IDAA;C+J,+3G&<ISG'CC..>9T1?V#U>A;":3+U"1;K19*UO/
MQ3XRGX5U]:LJ4L7+*DOQ:%J5XY0E+K>/X$(1CZ.;F_MBZ2^$#=W2&JNN(I)&
MXMX:UA31VUK;J%<D)*V;#/<QGP;8!I8<<*:CUUX\F'RW!`T+_P"M?;3XJQN9
MV\:UCICS8TMW[:>^.\5XSJ70E'MIE2>*:4-4XE"%'R8K)"4C6#9$TTXU"0\:
MDG"7<,D$HC`G/)A3K[S:"%=,369VO))Z;Q>@OQ9U/K:_$[7W&[%WS=[.&S(4
M,9*R*AK-]3:TXS#>NEO[06AM+GY4D\TEL5>,8$;2I'NGN6_Y+MQ/#I-<>?+;
MYSDT<!P'`<#_U._C@.`X#@.`X#@.`X#@.`X#@.`X#@.`X#@.`X#@.`X#@.`X
M#@:\>W'QJZ#[:2SUUE\S&OMHNC#C$7NHX#4N<;"&;#`1;(,YI84[[$1E#3;R
M%BF8:;0WE_+2$(QO7\EUX^$NLK6(GX4>Q=%DU$ZE[25X!O+N58DTLWK7<FK#
M3K;@SJF:T;9<8=PMI*_#W.?34G'@K/AC/.G[=;YU9ZWXJZ6?B8[KV/"HV^]U
MR%P;F?XUIFU;9M^%X6T^R[E45,G0`:\Y:=RCPR[^4A:L9SC'T*?LT^-#K?;/
M^H_A&ZY4\D63VK<[SN0]A;;CT=E3-!J9JTJPMW)49"E2-GSAQ6/X$S2<>7.<
M9\V<XSC-_+M\3"]8VRZ[U=KC4=>8JFL:16*)7F/+G$76(<*)'>=QX^))F16D
M.R!KF59RM]]3CSBLYRI6<YSGG.VWS6O"_.0.`X#@.`X'_]7OXX#@.!&OL'O,
MK3LKIF#;1#0@NW]BJUXK9-S&D']?4J9?K\K*U2'L:XPR-<&EMFV0`>O0RR"P
MQ?K$U/Y;Y7M8X\LGE<\#N>`"8IE8V5+UZ!VQ)CU&OW"M5UV5GJ[7]I6"HIM)
M%%:LK,>L`>1)&9>?C!3G1SC@5,/(9S@AGSD4M7:?02:PU<5;%CTUYVE!['P8
MJ)L>"&Z+)655/C;01%9AOK<6)D[&A0HSCK"/<*0I3>%-I4K!<5<,/OS4D\3%
MA1-O:*,EY$.)%$S#V$<D>1DY*PQ$0-+L%1++L`J;/JL@D!1V!D'H%4X/EQO*
M5J(_N/WOJ>8R5]2VUJ<0&=00'7X*(GYL5S&T;.73:'*!EQ446+(5NPV(!]AN
M686Y&,I8<=>(;9;6Y@N&*NV?8]_KG%:9=!S1?K/;^\ZII\5W8=C75*Y$@R\#
M:[;9[47-8PIIEJHU&F'GY9=]-!>64CX=:<=;SD298<VEW*M.J9/KS$60G0\6
M/OF6V9,A7>8NL_$TT#35"U2'L-K9;*9.,!E'Y`N=EHR"7#>"GE.RS)+;RD-K
M:7%DSGRRELGLK9].MZ.A[U3(8ZW;/W15-:VO%4G"R:W1JM?K^5K^AW8PF4C@
MI5)5NF#X<<6-=80O)9)B$NN-Q[[N:F,Y2,V-=$Z_IDW:&X@NQR00Z!Z]5HY\
M<:3MMHD7FX^M52,(+RD08ZPS9+`B'GLI8']7U75):0M6"(P5#MM]MM==(+]"
M04>^GMI4XC8,W&MNR)3E&H*]!3.Y++9A<#,+,DD0,XQ%5[`V6,D.FS@^<I3A
MMS'"XYK*7]JOK][&JR&-DQBA[K#:BL-<2B,L+A9D+OG%D5J.0*CD0ZI"'9NJ
M*?**8]ZT.IE(+RG\-81G/!BK?D^W>DRJ'=;=2K_69LJKT"NWAAF88ND3$8'O
M\E/UC6[D^3&TV?L,9&62Z5XF->4+%GGANLN84(IW"6EC%70#V>T;(2TQ`,7H
M=4U7B]E1TR!]1VI&1)'3P\<3LH%E\B!8:.(J[,HRI:6<K41CS^AAW+3N$#%?
MX[VAT.R]61E["!]Y<%:[;KP"(FQNR)Q&V8"RVG783L>U#K-CI&SUZGR1;(Q+
M;)#;(JLNH;\R,*&*N+6&]]2[F\WZL;I'VWRTJA[%SD$64&QFE;.^TJ:-/IS)
M`!86+/.TZ4:2C'B\P^`\T^AIQ&4\)A#\KO68SOG8.HHBKUFY8IW9W3W6^/@*
MW8'5;,G6MA4.E7C8>SF:SE!:FZ;HD2[(5-OJ0D1X2-D5I*8)%2(^7'"3Y_:'
M0T;)BPY.Q(Y9Q]AJ]6`2#&6"4&/FKG)7F'K+`$A&1!<>:)*2VL[`*DMIU8C9
M$.4VXZA;2L<)A4V>Q.EB("C6=F_1;D/LAH`BFNI%EO>2P<C8X2G#R+L1]7_6
M\3%HMUFC8M\HU@8861D!AGEMO/M(67%63$=P]#R_D3F?L\0Z9=-F4.#%GM;[
M$B)"SSFGK='T/8[E;C2:OB1E8NK7"12`24AK#27&GE^/I,NN)&*]5\[=:%UX
M!:C9>W'2SM1I&PM@G1U/J5NN!TC7-66JO42].5_->A#P9TZOWBTA1!`XSRW6
MSUO-KPG`ABAQBJ[&[_I)MGM\0_,1@@58-H-43'."7)K83FRKC6I&^O4<JB&T
M\,EV39UZ1$S`S$<1)'J%(+<+%#9$2Z013/[6?7G)D>`G94>X3*0VM+"%AJ&L
M[S*X?<%_)U9KDYXIJ$6*(BR;$"?ATI>6VL4UEQ!*6?(K."XJY=F[JJFKYZKP
M]AF(2,1(P.P[]8OK7[4>_!UCK"LKDKE:Z^-`U6?"F2*[.2\&R8,43');#D5/
M-N.OI8%)(K.O]QZUVDQ-$46T#S;5='KQ<WE8$M$*CA;76P+=7R7VYL"-<]O(
MUZ2:(2M.,I1XJ;7E+K;B$!@S6>\MK;\HE3W;IRJTG]4ETLU=Q3`;F=-"7&ZZ
MB/NX,),[F8/"].'JS+M+P98*]`.#23\V![/W)L604X**7&%^G]J=`QJ9UTK8
MH/M:W4HV^RL@+#V60BD4J9M!E+AK4#+`0I,;,0,O9XX@40D-U]HE3#BV\J;0
MI>!BLP5.V0-W@1+-62WCH4YZ1'%*(CI.*===BI,R'.QD&8#`D&T-R`#J4+4T
ME#J$X<;RIM2%J(N/@.`X#@.`X#@.`X'_UN_C@.`X$+.Y%3I\WJC=I&ZMM,TG
MKF?J$>(VW%3%%?L2(F%&D[&41:-;S0KOOPMJR2S!Q8Y`84W(M2(<8L`/WZQ<
MN%C&`=+T>B>D77MS2;WN>XVX":V&11YIF8A^V-EU[9?J\"XR!H#N)]&O*ADU
M5*]R-'Q10^8-##QY+<0Z_%_TCA0-;]4X^N"N2'9`ZQTYG3/Q8*D&/U57&`B3
MM,UO:AAG5;V"Y(:26%K+96Q4/C'M,J<3#`9-39"%X4LMH<^O::#%/JQ*^\JH
M?<%A`K=EM5A>W`'!42R?K+UO=B.K^LZT8Q7K`5B2/LT4'KEB!L4&S$PSSR3G
MTL#ED,8]BBIZ7EUJK]6$UQKM.H=CZ[FZQ$9@UW1^AT(.##N8"-9-1==&/`*L
M4Q9JE87`BH&4R](%G$KCA&1D--#/MJ;%^ZV-^5./E^R_6&P.;?@*5=HFO[TB
M]1T.UZOF[M6[58IBL0;U\LQ,S&6JIBQUEJNO8TAF,&>-&]0&0EE>F9C&?9B>
M+PQ*K6K0>^ZL4_V<JLCM+/4#9-<@8Z^Z)][6<Z<SM"HR6W=AUEV-M50I(<=F
MS2%3`6`X\6"S"`Q.5#D-J661%^/'RM'=VO-&(K#]9WKV'K+N]"=O=5#J%LNV
MZH95O**DH?9NH,:0@*15XUT6U2@UKVM#,9-.A&6(QJ6EYGU6A,M%I&$S\3A,
M?=T1KIVST":W?<:`)K@0*RQ452]EUB,(HTMLR1"8)B[9(V&P2*(029K]8C90
M:-CW\(R^Q('+0MQU#:F*D^R`U$U?IC&F-6Q=2[0RSE97T6[@UO25FA].6<:1
M8U!9K!K]ZX;)J\:;@PHC]6C1=48BHAMI$A+!BC+!RH51F'8O.;Q\O36-=]:6
M-T!26>PZY"TF[DTX9K^N)U?8(^%A-A$])[Q6="Q<5(2#!L7(TH&D-6JSU?SO
M8C,33S4?DDB79']8?'A0ZKKCJ>O7M;S2>QBV-9-A?&(5"(<UA./K>UO7-C@!
M]7HBRD2(#)[H6R-[Q\H6\84R,U#3ATHW.,K\CR6ASZ]O5-ZWZTETB[`PG8^:
MAU?V>_DSKEMFV]67&5LV)N8W%7WNZVR9$$40.<=ME0V$[%LC0@Z&IDL1MA4(
MZY'^KEP<^O2KXUOUV1NVZF'=CI1[8,QO*;1489K5\XQFG[\D^AR(&COU(Y,<
M]'3R:WUWC['.U1L-7U43B1*$CU++'<0L<X\)*],:YHB%5=S-`[&!N53F*#UN
M>IT.)5RH86FZ<!T95H33H(,@:P&_9J]-C1$K-CO,X82.?+2`CR<$#N>2I58Z
MU52AP>C=U5NL[5F[X61NGM.]M78T+3Y>IW4':M@V7=)/888=<4*<>J1HDE(Y
MCH!P0=]@J'`CEB>[96T^^+YB/NN*3UJ9IG3=B'W=4)%R(D`8C1\G4=;%PD5:
M]N$]6;=':HMMQA2R[#+1EOBM"8EY"$$L)X[!;:A&XYME:0F5CGE]>M5)ZX0E
MOTX33]VPES#3U+ZB1-"B;SKF4AR"Z7`RFUB]'7#74U<7`(B$LEVQ(38IL40'
M*6YC`*U9(#(6^Z]%N>>%\]?*5IZ!L77\9K=,G?\`8@/6O=E7UO)*HLI429UI
MC:-!7V6V<*%)@'@Q=_D+_FMHD8LI2CQWTO*0RXPLA+52_/'RC5!:JTFU%:V2
MOM9(EBL]6NC$55W7](V\.).U/2>RT9*PEJ4/+/%MB%[IMV8F(O8ACJI"%\K9
MLRD8%;##47_3-M;U]JC'8>7+KO8,K]=9?8?LH0W&26L)-P"+V+:-(ZJ5)0_F
ME6V(4G9>L]#HK>*])D%."2-444AB/);R<\V/CQPQK3*/TO<3"9UONTX0/-NZ
M%S`C<M2+8?+?8*,EY6N]6J683.P\>2T19NS34Q82):19=R+>G2!)<=+Z%LY'
M/IFON!3=(SEUV-);FW),4J+?Z0[@BK/6(JD6*8D0>NH5ZI<EV4M<-/P@4B4Z
M)-13U>C)@&/87*CH:`*:SY/,V[4F?CVS9I&#U7$2_:\J#O,?;@9O:49([(BV
M:ZY!0=*1GKWI]JMUN.)\F1K!7V]*(KCK)L:YF+6TYE+:$&(.RH>F--%Z^B1>
MEU`KVM^P-OENMR>N0XFB+M6=:RD5MEG2<QJAX35DG,.$!G3-BL51HQX94;[*
MM0$J6<$)@@=Q[+[)(OGQRCXSKWKFP593[?V&:DZXY1?C+?GH2!U59(*E-:JK
M.X)-WK&+67U+L3#.HMF[4&/;-2&42#$#O2F)A_`R_5%B\^O;<%RLG`<!P'`<
(!P'`<!P/_]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>27
<FILENAME>g908770g28x35.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g28x35.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X5U6:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](D%D;V)E(%A-4"!#;W)E(#4N,RUC,#$Q(#8V+C$T
M-38V,2P@,C`Q,B\P,B\P-BTQ-#HU-CHR-R`@("`@("`@(CX*("`@/')D9CI2
M1$8@>&UL;G,Z<F1F/2)H='1P.B\O=W=W+G<S+F]R9R\Q.3DY+S`R+S(R+7)D
M9BUS>6YT87@M;G,C(CX*("`@("`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O
M=70](B(*("`@("`@("`@("`@>&UL;G,Z9&,](FAT='`Z+R]P=7)L+F]R9R]D
M8R]E;&5M96YT<R\Q+C$O(CX*("`@("`@("`@/&1C.F9O<FUA=#YA<'!L:6-A
M=&EO;B]P;W-T<V-R:7!T/"]D8SIF;W)M870^"B`@("`@("`@(#QD8SIT:71L
M93X*("`@("`@("`@("`@/')D9CI!;'0^"B`@("`@("`@("`@("`@(#QR9&8Z
M;&D@>&UL.FQA;F<](G@M9&5F875L="(^9S(X>#,U/"]R9&8Z;&D^"B`@("`@
M("`@("`@(#PO<F1F.D%L=#X*("`@("`@("`@/"]D8SIT:71L93X*("`@("`@
M/"]R9&8Z1&5S8W)I<'1I;VX^"B`@("`@(#QR9&8Z1&5S8W)I<'1I;VX@<F1F
M.F%B;W5T/2(B"B`@("`@("`@("`@('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D
M;V)E+F-O;2]X87`O,2XP+R(*("`@("`@("`@("`@>&UL;G,Z>&UP1TEM9STB
M:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+V<O:6UG+R(^"B`@("`@("`@
M(#QX;7`Z365T861A=&%$871E/C(P,34M,#0M,C)4,3,Z-3,Z,S@M,#0Z,#`\
M+WAM<#I-971A9&%T841A=&4^"B`@("`@("`@(#QX;7`Z36]D:69Y1&%T93XR
M,#$U+3`T+3(R5#$S.C4S.C,X+3`T.C`P/"]X;7`Z36]D:69Y1&%T93X*("`@
M("`@("`@/'AM<#I#<F5A=&5$871E/C(P,34M,#0M,C)4,3,Z-3,Z,S@M,#0Z
M,#`\+WAM<#I#<F5A=&5$871E/@H@("`@("`@("`\>&UP.D-R96%T;W)4;V]L
M/D%D;V)E($EL;'5S=')A=&]R($-3-B`H5VEN9&]W<RD\+WAM<#I#<F5A=&]R
M5&]O;#X*("`@("`@("`@/'AM<#I4:'5M8FYA:6QS/@H@("`@("`@("`@("`\
M<F1F.D%L=#X*("`@("`@("`@("`@("`@/')D9CIL:2!R9&8Z<&%R<V54>7!E
M/2)297-O=7)C92(^"B`@("`@("`@("`@("`@("`@(#QX;7!'26UG.G=I9'1H
M/C(U-CPO>&UP1TEM9SIW:61T:#X*("`@("`@("`@("`@("`@("`@/'AM<$=)
M;6<Z:&5I9VAT/C$T.#PO>&UP1TEM9SIH96EG:'0^"B`@("`@("`@("`@("`@
M("`@(#QX;7!'26UG.F9O<FUA=#Y*4$5'/"]X;7!'26UG.F9O<FUA=#X*("`@
M("`@("`@("`@("`@("`@/'AM<$=);6<Z:6UA9V4^+SEJ+S1!05%3:UI*4F=!
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M,61N9#1E6'`W9D@Q*V8S3T5H66%(:4EM2VDT>4YJ;RM#:S535FQP95EM6B8C
M>$$[<6)N2C)E;C5+:G!+5VUP-FEP<7%U<W)A-G9O4D%!24-!44E$0E%514)1
M645#04U$8E%%04%H141"0T53355%1E523FA)9UIX9UI%>28C>$$[;V)(=T9-
M2%(T4TY#1E9*:6-V17I*1%)$9VAA4U5Y5VE9-TQ#0C-04TYE2D5G>&15:W=G
M2D-H9UI*:EI&1VED:V1&53,X<4]Z=WEG<"8C>$$[,"M0>FA*4VMT3515-5!2
M;&195U9P8EA&,658,5)L6FUD;V%7<')B1S%U8C)2,61N9#1E6'`W9D@Q*V8S
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M3DYT3$TS=#%D=W=7638S16IQ<V8O0D4P>%9*+S`U<F5Q07)O5F@V149A9G!0
M53!K:6I)."8C>$$[67)B-$HU9CEL-F%N<4=/2W!,3'!0-68V;$Y(<65V83-B
M-C5D85!);#4V,7ID>$,S=%A6,FE6:&)X<W--82MQ<DQ6;$I,3%%S4W5+<R8C
M>$$[=',Y93!/.75M<S=056)7-74P5FYE,VAM:FMK0V\O<'5X4E-7058O:%!G
M9'-64C)+=7A6,DMU>%8R2W5X5C)+=7A6,DMP5#5Q,4ID3R8C>$$[,%-E-6$U
M5S%O55@Q4WE)+T5U3V%X97`X2FQ+8W940C9T5$98:U9R-59U8FPQ:G8Y5'19
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M>$$[0C,K=W`O:U1I=G1I<5IU-F]J3WAO<6=L:C1!8C1Q;V]J5$U*2E9O9TEA
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M845T=$5R6"8C>$$[3D=61D)(<'ED45`Y6$I)5F8X5F%$+WDQ9CAK-5`K86-6
M9"]I<E%F*U=R+VMN2B]Z5&ER2G9);7`R5B]C86DY<$HV:6]L=4=01FQO4R8C
M>$$[6F8U9TU"4WDW07)S5F1I<G-69&ER<U9D:7%Y-&YJ=#1*2C5A*VY#:E-0
M>%9N8FEO<6%+;TQ-9EE#=4MS950X>&9*-U%7.7=B.'AX6"8C>$$[8SEV83(W
M4W=815A/5S=1>5%!0U-.5'A:5F(T=G-I:$))24]+;R]1+TY':#8T,'DV6&-'
M8W=+:GE6:6QJ2$=4;'A+;5)5-6)O=U!'="8C>$$[0TM(1E4P6FQ24WI%2W%I
M<DUD9T%/<$IX5E)65$]Y>5-#:TEO,%5:0D)*-FAN0G`P-TPR-FYF;W$R.&IY
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M>&\S5#ER<#@Q5F5.1TPO5R8C>$$[2B]G2V=H14I&15=U-4I(8S`S.$]G-VMQ
M=$M$8TYZ86]H52]!=C@U2#=2.79$-R]$1EAZ2BMN3D9'>#%#,D)(565T2"]!
M1GE32&9P,R8C>$$[4E`X07$T5S,O2390*W5+=2]4=6EF.5A#,B\U2%(O,7A6
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M55IL;C1Q:4M644524FYL4B8C>$$[;69F-F-5<&YV8T5L9U9T,5`R5T%(36IE
M=2\W22](-611<FE0<E`X07I#.7@O=C,O04IS+S1L+W$O859F;E!Q6"](4G5V
M*TTP;B]%:B8C>$$[:7E#1WA6,DMV<#<O04IW-2]W0T]D-6\O-'I79B]%6F-5
M1CE&-&]D:7)S5F1I<G-644XQ;U=I6&LW,T8S<#ET8U1Y4BMI.'-S36)U,"8C
M>$$[9%$S07-W2DLQ1F%9<7`V5C5A.'5A4E0Y13966C9F44UO*W%7.%5(=W56
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M5"]P25`O5DQ&5U,O;#4U:VLQ6'I+.$PR;V<Y3WEM8TU*1$I8.3=#2U4T2F=+
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M06=X+WI4:7)V.&129CAS8F8X1U`K86-66G8U0G9H<75L6&QW-D-+,2MS<TAJ
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M15`V67%Y<B8C>$$[.'9D6F96<G95+U)J.4))-#=C4TUX-4XX4FUP>$9+9E-F
M=7=&5V12>')'9U)A.%(T:VLO4U15;D%L9&ER=U!Z:B]W07!4<6XO041%4R8C
M>$$[9G)Y4T5M>%8R2W,P+TM0+T%*4WEB+VU!;2\U4%%90W(R2$%L,DMU>%8R
M2W-A+TTS+W=!;'0U<R\W63)O9CE1<VU+=GHW>%I/>%8R2R8C>$$[=G-0+T%*
M>%`O=T1*6'IF.71/-"\U3GA9<U,Y;7A6,DMV>F8Q3"]J;S-8+T=A5"]I4GA:
M0D19<3=&6#`Y+W=!-&,O.$%(3S@P9CA:<B8C>$$[4"]I375+0RMI.%5/>%8R
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M>$$[<&E,;VMA='HS-6-I1C)5<79,3'HO97EF+VI)+R]%:FMK2T]+=7A6-E`K
M5$@Y+W)F*W)A9G)N=T9,,'E75T]*3V-J0E8Y*S4X0C1N028C>$$[<6E7=5IQ
M:$(V15)!-'EN-UIR43=)4CA/,C-X8C$W67$K3'9Z:S@Q*UDY4"]!1%`X>%=L
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M=&9Y=CA!>5A0+T%#3%@O;79',7`S+T%#=&9Y=CA!>5A0+R8C>$$[04-,6"]M
M=D<Q<#8Y+W=!-#DK87)06#5V34(P>$A#=T-Y17IZ:FI4:V)I;$95;FQ7;FE-
M5G`W2D9A;VI",DIL;4%)17(P3%5*<G11028C>$$[1#9"9U97>%8X22]N;B\U
M3G)Z3B]Z1F8X>3%X4T=#67!D:7(S1"]N15@O>5I/<&8Y<V%F+T%+:7)B1D)F
M6$]+16<X-2MC.4XX<5=&<B8C>$$[93-Y3SAD>F125W9W06XP,&,X<'`U0T%E
M36-%2W9)-3A"-S1Q=RM4."]03&-L<WI75G5Z,TQ2=WIW>%A%<5)P-E5R,F$O
M=D=G*W-U<R8C>$$[;$PX37%):CAU2C-R:7%(5"]N25!22DQ3-$,V5F-W-G)A
M0C!U8D<V;'0T2UA+45-3*VEP6B]63E=H6F%M154O84%B-$-Q:CED.#<V9"8C
M>$$[-6\O3&IZ-FQP1U5K,'949%)T<F]I4TM24%9&=$U#131-6#(T.5=2468R
M959$:6]F1#),2C)+=7A6.6@O.#1N+T%0:W(U=CA!='`S2"8C>$$[+TIU3$9I
M6',R2W5X5BMB*W!F.$%(4G5V*TTP;B]%:FEY0T=X5C)+=G`W+VY$;B]J;F5A
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M0F)8<5%G07EG4G9!:U8T-E,O=6PT>'1+0S-)8W94>%9K4&QN>G`U<G8Y96HP
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M<$1"355U>%8W:"]Z:4PO-28C>$$[36Y5=BLR3E`O=T)25G1I9W9R;D9$<U9D
M:7)S5EDQ*UIV+VMT=DYN+T%'>'11+S9H6DU69FXS:7ED:7)S5F999B]/2B\O
M:W(U=BLR;B8C>$$[8V8X04IU3$9I6',R2W5X5BMB*W!F.&1'-B\T>E-F.$%%
M:FEY0T=X5C)+=G`W+VY$;B]J;F5A4"M-,6XO04U2;'A16#!8:6@R2W5X5B8C
M>$$[,DMU>%8R2W5X5BMD;FTS+T%*4W)79CA!;4]U9BM4>EES9VQ/2W5X5CE+
M+S@T82\Y3F8X03EU-R]!3$=S548Y2UEO9&ER-%(O4%`X028C>$$[.&TQ-6TO
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M1T<S<V-655`P6G!V+TQ*1"8C>$$[+W=!:3$O<&EQ1F)Y=C5:6FEZ85):37I'
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M0T9A;D)'3E!I1D13:E8K1W5+<70W*V-V:U14>5`P;&1V6E9J16<Y4D]:-&Q!
M+S)95$MW*S$Q27!S9#A.2VUN;'8X=U!,4"8C>$$[;4\O:W-D2FYA965'17IZ
M9D-65D%S<&A+:VYQ,TI4,'%09D%R23A69&ER<U9D:7)S5F1I<G-69&ER<U9D
M:7)S5EEF<D@U<V53=$5V8B8C>$$[,C`Q;3=E>$YL2W--:WI24$Q'5UI9,G)Y
M9T5V040Q,%5M44QV:7$T+VUL-5-L,&E(5G1/;695<D]E57=O,$-I33AL5C).
M9G),5S8O-R8C>$$[<E!W,35(<T1I<4)(-7HK5#0Y34=P,WDS5VXR2C1G>7IX
M;V%'4U`Q5DA'1C57<G=O9&AS0T-F:#-W,'$R6#@Y=GET4D5:9&%%<E-V1"8C
M>$$[1D5I47HO1SEW=DY!<DUI<#`K,&$P53=.431&4D@O2S1V26II33(Q,TQC
M2S5K-4])6DE645)C3V)/,7E)44%05U4T,'%Y,"]/=CAU8B8C>$$[<6196714
M*TUI<F=X4T1I94QV>"MZ.%9213,R2VIB<FER2SE#,6TP,7)2-U!6<DU/3%<Y
M:5=A15-!0G=R0V\U049H6#9C5E(R2W5X5B8C>$$[,DMU>%8R2W5X5C)+<V,O
M34<X83`X<EA-:6%Q*VEY1C1L:C%#3S)K=3-2+U5"5E)$159:=5I(2'(P3TMV
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M;UE*;TEM;T%53E%F:#-(1G0X5F(O=W`U+V94-4Q/6'IH*SAR2$IA6#!6:6MC
M<U1X>48K3$M:6%=:2%4X1T0Y9U`R:5=X5B8C>$$[4G-V2F9N>4\Q=6)7*S@T
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M<F)8>68K67-C.3`Y>C4R*W-26$MK96HK:FMJ0TXY5V5&4W)*4'E50U%P2V5"
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M;'5(4E-Y:TE864TY1BLQ=6%Q;R\O04%X*UER,G%X5&5C52MS>%1#84LW:C`V
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M*S8W57(K>&ER6"]74D@V3G0O,&98.4DO558U*W0V6'`K<CEB:W`O=E0S.4=N
M,G9J-#AA+R8C>$$[1EA&52]W0D$O=T-6,R\T<W5F,&AX+U%V,2M'=G$O5G94
M*W$O53(Y6#`K2#=Y;G)C2U4S<B]S<U9E9D@O04M'1"]29C=R-B\Y<'$K="8C
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M=UHY8G`V:V8Q9C%++U8V928C>$$[:4]N<F8V3CEQ=DAJ.$Y/6'$O=E!4=W%S
M,5`X0358-2ML<F(P9G)F-D@T4F9P3&HY43EB,75+9EDT8C$V9C-8-W5T969W
M.'-655!,+R8C>$$[05`P340Y5S%N+T5(<F5J-DXY-F9P*VI8-GA3,RMR96PY
M6"\P;C!V-WHK-3,K,7@K3&II<41G+S9'5"]2+W=#*SE4,'9Q5FXV9%!2-28C
M>$$[8R]6="MF3"]!22MU6'!E<C9T9FHU9$YQ67%J=&8O-5AV*VTY6BMT+U=F
M,$8V1B\K:69Q4'`Y96(K:%@V;"]P6'%E;'@T8W8K2EEQ,28C>$$[1"]Y=GHQ
M;V9R;C$R;C%85694+S-J<'@K<FHP=E<K<F)E<C9V2#!F,G5V3'9I<71$+W="
M1$9F6&TK<SAV,%8Y5&)H=RMO,2MS*VUV1"8C>$$[;'@O,')H>G)7;GA9<6=D
M6"]W0VAI4#A!0VQT.60K<V9P+VYF52]2;F]C+U(Y4S(K<F5V-E@W:790;CEJ
M-'94<C,U67%O5T@O04-V3"8C>$$[,$Y9*W4O6#8O;WEB;'<Y8C%05C1J-G0Y
M5W`X4'$K<#9V4#!T*VQF9SE01E=15&8X<C8O44XU.50U+U@K0V9O-R]E4#%U
M2#%P-F-V<B8C>$$[4#=R;#E7-#$U+T@T+T9I<D<Y52\U6#$K:"\S4#96*W5C
M4#-V1#`O6"MS9E@U4',X4#-(2#!Q8W50-W9H5&HX3TMV5E!Y."\U5THV;28C
M>$$[=68T>'`V6#$Q=C!(+W90>2MP,"M'=F]F.&(O1F=6+R\R43T]/"]X;7!'
M26UG.FEM86=E/@H@("`@("`@("`@("`@("`\+W)D9CIL:3X*("`@("`@("`@
M("`@/"]R9&8Z06QT/@H@("`@("`@("`\+WAM<#I4:'5M8FYA:6QS/@H@("`@
M("`\+W)D9CI$97-C<FEP=&EO;CX*("`@("`@/')D9CI$97-C<FEP=&EO;B!R
M9&8Z86)O=70](B(*("`@("`@("`@("`@>&UL;G,Z>&UP34T](FAT='`Z+R]N
M<RYA9&]B92YC;VTO>&%P+S$N,"]M;2\B"B`@("`@("`@("`@('AM;&YS.G-T
M4F5F/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R
M8V52968C(@H@("`@("`@("`@("!X;6QN<SIS=$5V=#TB:'1T<#HO+VYS+F%D
M;V)E+F-O;2]X87`O,2XP+W-4>7!E+U)E<V]U<F-E179E;G0C(CX*("`@("`@
M("`@/'AM<$U-.DEN<W1A;F-E240^>&UP+FEI9#I#13$U-S,Q1$9$13A%-#$Q
M.$(V-49"0CE#,$-",#E!0CPO>&UP34TZ26YS=&%N8V5)1#X*("`@("`@("`@
M/'AM<$U-.D1O8W5M96YT240^>&UP+F1I9#I#13$U-S,Q1$9$13A%-#$Q.$(V
M-49"0CE#,$-",#E!0CPO>&UP34TZ1&]C=6UE;G1)1#X*("`@("`@("`@/'AM
M<$U-.D]R:6=I;F%L1&]C=6UE;G1)1#YU=6ED.C5$,C`X.3(T.3-"1D1",3$Y
M,31!.#4Y,$0S,34P.$,X/"]X;7!-33I/<FEG:6YA;$1O8W5M96YT240^"B`@
M("`@("`@(#QX;7!-33I296YD:71I;VY#;&%S<SYD969A=6QT/"]X;7!-33I2
M96YD:71I;VY#;&%S<SX*("`@("`@("`@/'AM<$U-.D1E<FEV961&<F]M(')D
M9CIP87)S951Y<&4](E)E<V]U<F-E(CX*("`@("`@("`@("`@/'-T4F5F.FEN
M<W1A;F-E240^=75I9#HU,F%D93@P8RTU,6(P+30R8V8M.&(T92UC8C4R-&,W
M,#8R8S(\+W-T4F5F.FEN<W1A;F-E240^"B`@("`@("`@("`@(#QS=%)E9CID
M;V-U;65N=$E$/GAM<"YD:60Z,C4Q.39&.#(S.4,V13,Q,3A#,3%!0D%!.$$Y
M-3@R03(\+W-T4F5F.F1O8W5M96YT240^"B`@("`@("`@("`@(#QS=%)E9CIO
M<FEG:6YA;$1O8W5M96YT240^=75I9#HU1#(P.#DR-#DS0D9$0C$Q.3$T03@U
M.3!$,S$U,#A#.#PO<W12968Z;W)I9VEN86Q$;V-U;65N=$E$/@H@("`@("`@
M("`@("`\<W12968Z<F5N9&ET:6]N0VQA<W,^9&5F875L=#PO<W12968Z<F5N
M9&ET:6]N0VQA<W,^"B`@("`@("`@(#PO>&UP34TZ1&5R:79E9$9R;VT^"B`@
M("`@("`@(#QX;7!-33I(:7-T;W)Y/@H@("`@("`@("`@("`\<F1F.E-E<3X*
M("`@("`@("`@("`@("`@/')D9CIL:2!R9&8Z<&%R<V54>7!E/2)297-O=7)C
M92(^"B`@("`@("`@("`@("`@("`@(#QS=$5V=#IA8W1I;VX^<V%V960\+W-T
M179T.F%C=&EO;CX*("`@("`@("`@("`@("`@("`@/'-T179T.FEN<W1A;F-E
M240^>&UP+FEI9#HU0C,Q,#`U.$-$,S=%,S$Q.#`T14%&130U-T)&,#8W13PO
M<W1%=G0Z:6YS=&%N8V5)1#X*("`@("`@("`@("`@("`@("`@/'-T179T.G=H
M96X^,C`Q,RTQ,"TQ.%0Q,SHT-#HT,RLP-3HS,#PO<W1%=G0Z=VAE;CX*("`@
M("`@("`@("`@("`@("`@/'-T179T.G-O9G1W87)E06=E;G0^061O8F4@26QL
M=7-T<F%T;W(@0U,V("A7:6YD;W=S*3PO<W1%=G0Z<V]F='=A<F5!9V5N=#X*
M("`@("`@("`@("`@("`@("`@/'-T179T.F-H86YG960^+SPO<W1%=G0Z8VAA
M;F=E9#X*("`@("`@("`@("`@("`@/"]R9&8Z;&D^"B`@("`@("`@("`@("`@
M(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@("`@("`@("`@
M("`@("`@("`\<W1%=G0Z86-T:6]N/G-A=F5D/"]S=$5V=#IA8W1I;VX^"B`@
M("`@("`@("`@("`@("`@(#QS=$5V=#II;G-T86YC94E$/GAM<"YI:60Z0T4Q
M-3<S,41&1$4X130Q,3A"-C5&0D(Y0S!#0C`Y04(\+W-T179T.FEN<W1A;F-E
M240^"B`@("`@("`@("`@("`@("`@(#QS=$5V=#IW:&5N/C(P,34M,#0M,C)4
M,3,Z-3,Z,S@M,#0Z,#`\+W-T179T.G=H96X^"B`@("`@("`@("`@("`@("`@
M(#QS=$5V=#IS;V9T=V%R94%G96YT/D%D;V)E($EL;'5S=')A=&]R($-3-B`H
M5VEN9&]W<RD\+W-T179T.G-O9G1W87)E06=E;G0^"B`@("`@("`@("`@("`@
M("`@(#QS=$5V=#IC:&%N9V5D/B\\+W-T179T.F-H86YG960^"B`@("`@("`@
M("`@("`@(#PO<F1F.FQI/@H@("`@("`@("`@("`\+W)D9CI397$^"B`@("`@
M("`@(#PO>&UP34TZ2&ES=&]R>3X*("`@("`@/"]R9&8Z1&5S8W)I<'1I;VX^
M"B`@("`@(#QR9&8Z1&5S8W)I<'1I;VX@<F1F.F%B;W5T/2(B"B`@("`@("`@
M("`@('AM;&YS.FEL;'5S=')A=&]R/2)H='1P.B\O;G,N861O8F4N8V]M+VEL
M;'5S=')A=&]R+S$N,"\B/@H@("`@("`@("`\:6QL=7-T<F%T;W(Z4W1A<G1U
M<%!R;V9I;&4^4')I;G0\+VEL;'5S=')A=&]R.E-T87)T=7!0<F]F:6QE/@H@
M("`@("`\+W)D9CI$97-C<FEP=&EO;CX*("`@("`@/')D9CI$97-C<FEP=&EO
M;B!R9&8Z86)O=70](B(*("`@("`@("`@("`@>&UL;G,Z>&UP5%!G/2)H='1P
M.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O="]P9R\B"B`@("`@("`@("`@('AM
M;&YS.G-T1&EM/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O
M1&EM96YS:6]N<R,B"B`@("`@("`@("`@('AM;&YS.G-T1FYT/2)H='1P.B\O
M;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1F]N=",B"B`@("`@("`@("`@
M('AM;&YS.GAM<$<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]G+R(^
M"B`@("`@("`@(#QX;7!44&<Z2&%S5FES:6)L94]V97)P<FEN=#Y4<G5E/"]X
M;7!44&<Z2&%S5FES:6)L94]V97)P<FEN=#X*("`@("`@("`@/'AM<%109SI(
M87-6:7-I8FQE5')A;G-P87)E;F-Y/D9A;'-E/"]X;7!44&<Z2&%S5FES:6)L
M951R86YS<&%R96YC>3X*("`@("`@("`@/'AM<%109SI.4&%G97,^,3PO>&UP
M5%!G.DY086=E<SX*("`@("`@("`@/'AM<%109SI-87A086=E4VEZ92!R9&8Z
M<&%R<V54>7!E/2)297-O=7)C92(^"B`@("`@("`@("`@(#QS=$1I;3IW/C@N
M,C8W-S@R/"]S=$1I;3IW/@H@("`@("`@("`@("`\<W1$:6TZ:#XQ,2XV.3(Y
M,3(\+W-T1&EM.F@^"B`@("`@("`@("`@(#QS=$1I;3IU;FET/DEN8VAE<SPO
M<W1$:6TZ=6YI=#X*("`@("`@("`@/"]X;7!44&<Z36%X4&%G95-I>F4^"B`@
M("`@("`@(#QX;7!44&<Z1F]N=',^"B`@("`@("`@("`@(#QR9&8Z0F%G/@H@
M("`@("`@("`@("`@("`\<F1F.FQI(')D9CIP87)S951Y<&4](E)E<V]U<F-E
M(CX*("`@("`@("`@("`@("`@("`@/'-T1FYT.F9O;G1.86UE/E1I;65S+5)O
M;6%N/"]S=$9N=#IF;VYT3F%M93X*("`@("`@("`@("`@("`@("`@/'-T1FYT
M.F9O;G1&86UI;'D^5&EM97,\+W-T1FYT.F9O;G1&86UI;'D^"B`@("`@("`@
M("`@("`@("`@(#QS=$9N=#IF;VYT1F%C93Y2;VUA;CPO<W1&;G0Z9F]N=$9A
M8V4^"B`@("`@("`@("`@("`@("`@(#QS=$9N=#IF;VYT5'EP93Y4>7!E(#$\
M+W-T1FYT.F9O;G14>7!E/@H@("`@("`@("`@("`@("`@("`\<W1&;G0Z=F5R
M<VEO;E-T<FEN9SXP,#$N,#`P/"]S=$9N=#IV97)S:6]N4W1R:6YG/@H@("`@
M("`@("`@("`@("`@("`\<W1&;G0Z8V]M<&]S:71E/D9A;'-E/"]S=$9N=#IC
M;VUP;W-I=&4^"B`@("`@("`@("`@("`@("`@(#QS=$9N=#IF;VYT1FEL94YA
M;64^5&ER7U]?7U\N4$9".R!4:7)?7U]?7RYP9FT\+W-T1FYT.F9O;G1&:6QE
M3F%M93X*("`@("`@("`@("`@("`@/"]R9&8Z;&D^"B`@("`@("`@("`@("`@
M(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@("`@("`@("`@
M("`@("`@("`\<W1&;G0Z9F]N=$YA;64^5&EM97,M0F]L9#PO<W1&;G0Z9F]N
M=$YA;64^"B`@("`@("`@("`@("`@("`@(#QS=$9N=#IF;VYT1F%M:6QY/E1I
M;65S/"]S=$9N=#IF;VYT1F%M:6QY/@H@("`@("`@("`@("`@("`@("`\<W1&
M;G0Z9F]N=$9A8V4^0F]L9#PO<W1&;G0Z9F]N=$9A8V4^"B`@("`@("`@("`@
M("`@("`@(#QS=$9N=#IF;VYT5'EP93Y4>7!E(#$\+W-T1FYT.F9O;G14>7!E
M/@H@("`@("`@("`@("`@("`@("`\<W1&;G0Z=F5R<VEO;E-T<FEN9SXP,#$N
M,#`P/"]S=$9N=#IV97)S:6]N4W1R:6YG/@H@("`@("`@("`@("`@("`@("`\
M<W1&;G0Z8V]M<&]S:71E/D9A;'-E/"]S=$9N=#IC;VUP;W-I=&4^"B`@("`@
M("`@("`@("`@("`@(#QS=$9N=#IF;VYT1FEL94YA;64^5&EB7U]?7U\N4$9"
M.R!4:6)?7U]?7RYP9FT\+W-T1FYT.F9O;G1&:6QE3F%M93X*("`@("`@("`@
M("`@("`@/"]R9&8Z;&D^"B`@("`@("`@("`@(#PO<F1F.D)A9SX*("`@("`@
M("`@/"]X;7!44&<Z1F]N=',^"B`@("`@("`@(#QX;7!44&<Z4&QA=&5.86UE
M<SX*("`@("`@("`@("`@/')D9CI397$^"B`@("`@("`@("`@("`@(#QR9&8Z
M;&D^0FQA8VL\+W)D9CIL:3X*("`@("`@("`@("`@/"]R9&8Z4V5Q/@H@("`@
M("`@("`\+WAM<%109SI0;&%T94YA;65S/@H@("`@("`@("`\>&UP5%!G.E-W
M871C:$=R;W5P<SX*("`@("`@("`@("`@/')D9CI397$^"B`@("`@("`@("`@
M("`@(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@("`@("`@
M("`@("`@("`@("`\>&UP1SIG<F]U<$YA;64^1&5F875L="!3=V%T8V@@1W)O
M=7`\+WAM<$<Z9W)O=7!.86UE/@H@("`@("`@("`@("`@("`@("`\>&UP1SIG
M<F]U<%1Y<&4^,#PO>&UP1SIG<F]U<%1Y<&4^"B`@("`@("`@("`@("`@(#PO
M<F1F.FQI/@H@("`@("`@("`@("`\+W)D9CI397$^"B`@("`@("`@(#PO>&UP
M5%!G.E-W871C:$=R;W5P<SX*("`@("`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`@
M("`@(#QR9&8Z1&5S8W)I<'1I;VX@<F1F.F%B;W5T/2(B"B`@("`@("`@("`@
M('AM;&YS.G!D9CTB:'1T<#HO+VYS+F%D;V)E+F-O;2]P9&8O,2XS+R(^"B`@
M("`@("`@(#QP9&8Z4')O9'5C97(^061O8F4@4$1&(&QI8G)A<GD@,3`N,#$\
M+W!D9CI0<F]D=6-E<CX*("`@("`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`@("`@
M(#QR9&8Z1&5S8W)I<'1I;VX@<F1F.F%B;W5T/2(B"B`@("`@("`@("`@('AM
M;&YS.D5X=&5N<VES1F]N=%-E;G-E/2)H='1P.B\O=W=W+F5X=&5N<VES+F-O
M;2]M971A+T9O;G1396YS92\B/@H@("`@("`@("`\17AT96YS:7-&;VYT4V5N
M<V4Z<VQU9SX*("`@("`@("`@("`@/')D9CI"86<^"B`@("`@("`@("`@("`@
M(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R8V4B/@H@("`@("`@("`@
M("`@("`@("`\17AT96YS:7-&;VYT4V5N<V4Z1F]N=$MI;F0^4&]S=%-C<FEP
M=#PO17AT96YS:7-&;VYT4V5N<V4Z1F]N=$MI;F0^"B`@("`@("`@("`@("`@
M("`@(#Q%>'1E;G-I<T9O;G1396YS93I&86UI;'D^5&EM97,\+T5X=&5N<VES
M1F]N=%-E;G-E.D9A;6EL>3X*("`@("`@("`@("`@("`@("`@/$5X=&5N<VES
M1F]N=%-E;G-E.D]U=&QI;F5&:6QE4VEZ93XS.38W.3PO17AT96YS:7-&;VYT
M4V5N<V4Z3W5T;&EN949I;&53:7IE/@H@("`@("`@("`@("`@("`@("`\17AT
M96YS:7-&;VYT4V5N<V4Z1F]U;F1R>3Y,:6YO='EP92!!1SPO17AT96YS:7-&
M;VYT4V5N<V4Z1F]U;F1R>3X*("`@("`@("`@("`@("`@("`@/$5X=&5N<VES
M1F]N=%-E;G-E.E9E<G-I;VX^,#`Q+C`P,#PO17AT96YS:7-&;VYT4V5N<V4Z
M5F5R<VEO;CX*("`@("`@("`@("`@("`@("`@/$5X=&5N<VES1F]N=%-E;G-E
M.DME<FYI;F=#:&5C:W-U;3XP/"]%>'1E;G-I<T9O;G1396YS93I+97)N:6YG
M0VAE8VMS=6T^"B`@("`@("`@("`@("`@("`@(#Q%>'1E;G-I<T9O;G1396YS
M93I&;VYT4V5N<V5?,2XR7T-H96-K<W5M/C(Y,#`V-#,Y,C4\+T5X=&5N<VES
M1F]N=%-E;G-E.D9O;G1396YS95\Q+C)?0VAE8VMS=6T^"B`@("`@("`@("`@
M("`@("`@(#Q%>'1E;G-I<T9O;G1396YS93I#:&5C:W-U;3XR.3`P-C0S.3(U
M/"]%>'1E;G-I<T9O;G1396YS93I#:&5C:W-U;3X*("`@("`@("`@("`@("`@
M("`@/$5X=&5N<VES1F]N=%-E;G-E.E!O<W138W)I<'1.86UE/E1I;65S+4)O
M;&0\+T5X=&5N<VES1F]N=%-E;G-E.E!O<W138W)I<'1.86UE/@H@("`@("`@
M("`@("`@("`\+W)D9CIL:3X*("`@("`@("`@("`@("`@/')D9CIL:2!R9&8Z
M<&%R<V54>7!E/2)297-O=7)C92(^"B`@("`@("`@("`@("`@("`@(#Q%>'1E
M;G-I<T9O;G1396YS93I&;VYT2VEN9#Y0;W-T4V-R:7!T/"]%>'1E;G-I<T9O
M;G1396YS93I&;VYT2VEN9#X*("`@("`@("`@("`@("`@("`@/$5X=&5N<VES
M1F]N=%-E;G-E.D9A;6EL>3Y4:6UE<SPO17AT96YS:7-&;VYT4V5N<V4Z1F%M
M:6QY/@H@("`@("`@("`@("`@("`@("`\17AT96YS:7-&;VYT4V5N<V4Z3W5T
M;&EN949I;&53:7IE/C,Y-S`T/"]%>'1E;G-I<T9O;G1396YS93I/=71L:6YE
M1FEL95-I>F4^"B`@("`@("`@("`@("`@("`@(#Q%>'1E;G-I<T9O;G1396YS
M93I&;W5N9')Y/DQI;F]T>7!E($%'/"]%>'1E;G-I<T9O;G1396YS93I&;W5N
M9')Y/@H@("`@("`@("`@("`@("`@("`\17AT96YS:7-&;VYT4V5N<V4Z5F5R
M<VEO;CXP,#$N,#`P/"]%>'1E;G-I<T9O;G1396YS93I697)S:6]N/@H@("`@
M("`@("`@("`@("`@("`\17AT96YS:7-&;VYT4V5N<V4Z2V5R;FEN9T-H96-K
M<W5M/C`\+T5X=&5N<VES1F]N=%-E;G-E.DME<FYI;F=#:&5C:W-U;3X*("`@
M("`@("`@("`@("`@("`@/$5X=&5N<VES1F]N=%-E;G-E.D9O;G1396YS95\Q
M+C)?0VAE8VMS=6T^.#<P-#8Q,3DU/"]%>'1E;G-I<T9O;G1396YS93I&;VYT
M4V5N<V5?,2XR7T-H96-K<W5M/@H@("`@("`@("`@("`@("`@("`\17AT96YS
M:7-&;VYT4V5N<V4Z0VAE8VMS=6T^.#<P-#8Q,3DU/"]%>'1E;G-I<T9O;G13
M96YS93I#:&5C:W-U;3X*("`@("`@("`@("`@("`@("`@/$5X=&5N<VES1F]N
M=%-E;G-E.E!O<W138W)I<'1.86UE/E1I;65S+5)O;6%N/"]%>'1E;G-I<T9O
M;G1396YS93I0;W-T4V-R:7!T3F%M93X*("`@("`@("`@("`@("`@/"]R9&8Z
M;&D^"B`@("`@("`@("`@(#PO<F1F.D)A9SX*("`@("`@("`@/"]%>'1E;G-I
M<T9O;G1396YS93IS;'5G/@H@("`@("`\+W)D9CI$97-C<FEP=&EO;CX*("`@
M/"]R9&8Z4D1&/@H\+W@Z>&UP;65T83X*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H\/WAP86-K970@96YD/2)W(C\^_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@!4P)*`P$1``(1`0,1`?_$
M`!\``0`!!0`#`0$````````````(!08'"0L!!`H#`O_$`%<0``$#!0```00*
M#P,("`4%``4#!`8``0('"`D1$Q05$A88.5AW>):7MPH7&1HA-SA7MKC4U=;7
MV':8M"(C,4%15G.1)"4F,E24E=(VL[7#TS-"0T2!_\0`&`$!`0$!`0``````
M``````````$"!`/_Q``Z$0$``0$$!P8$!00#`0$!`````1$"(3%106%Q@9'1
M\`,2,J&QP1-2<N$4(I+2\3.BLL)"8^)B!"/_V@`,`P$``A$#$0`_`/OXH%`H
M%`H%`H%`H%`H%`H%`H%!HOW)MWH(GXF>^^<8O/MN"]68<F\\35@_A4@B`H7H
M"1[(VS.H)--YOD9%C=\>%QV.@!CY2,*-)+&D'39<P:$B0GKPTV-Q$=RMU>],
M7Q6MT7=47ITGXH<]U,>[0UE&]0:\;330'(^P^NM,S>0;?<F(ANG6,3UBXE/K
M(7&Q,`8%4YM&Y4Y`,)EJY8ZUS8Q`T&FN$VQ$R*/6)B+,3W;\;469NOB9WX4K
M2=5*+=>>*/O>+Q+I4QGS+KZ=C>+N7]6[_P!VRVW1A"+OY3AL3FN<;I8,X=%4
M>>B;1-TI*8)G"S&#DPV3$)R%F>9-"*`]^*;E[D77^*U-F+LIB,]==S]3OBNG
M)9+CNAHMHQ$1L>1;G+Z+BA]UN%\.C;48TX?9]F'-@D)"QU8X)`I`*CI5*'QN
M(,Q):QF1H7*Y2<</160P)W+JUNI7"_Q=W/?6K#7+GB\3=OS;KEW/M33S><FU
M'PWSETQT_LX:4#!9`Z8;:U1N*;OY:!B]@`^.&6HLKJ<0#+HH'@;U^8V)@C'`
M;O.)/&9<MJS?.$5M6HL[IB-V/DE7X=O3^Y^C.BNOLME9M0,0::EX*VMK;5XJ
M6WGH+6^'0&G)K/).Q&R]Y"X27**E5FX58DDZ&Y#6;QEEB"\R/5MCG-.JD>=6
M;41$137%:4PG;+;G59*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0
M*!0*!0:K?%8W!M;3,5XK(:DE$PCQ'9/B(<M:0FHV&/@K$K.=8[.-'F$R@B#B
M1J-@XYW(T1[)J//9$`;\*ZMBNSD(=%5ZOF:LZ</#.*,Y;K'>',O0"1794FEQ
MB#)>%M.>MI#H?;DY@D4M#MKJ;STP#:P<MM$L,9M$7D)QFDE@0XJ]477)LU6`
M]=C)9&@Q>/S7=K&OOQ9K&5)T1=HJR7JKQ+MD;QZOYWTQ&]<1R%0R3[3\0/5V
MU5#QB0WD3TOQL3UI'!!*-H'(0`)@V$HMM$;(748D0$3)69IGE%W9-FU%N'LE
M)W:69FM:19I3_P"J^E**[)O$]V'&W'29Q;F8"ZUGS[UF+XO3E33>+Y612C;\
MUE?-L=UP4)Q'/3*#*(P`NSZ#4*2D[C+)(_C*T*<BF(F1N3XE6X[N%]\V>]AH
MB+4SO_+AIKC#7]T=XE^])H3Z^,:HDLJTS;2?AT]\E,HPQ=")`$&=*<C=?QO2
M[#:D/.DXVV6.B7@](IZ#@\&M1KH>56#G@;E\+S5J:=5)]ONU%F(FS6*UM6>%
MJ(G/JF29.R?%^=ZFCW2)I/G&8;%C'*.0B"SZ8MY>PCBCW9YO3^I=BP]0N/?1
MI5L#@DX,[-4BV$E$O),<#6C9&5KPIQ&W*:S2RQ%FM+[YOW5F/;[I+>'5MK<>
MT2G>@S<IU$J2U'WEL'540$LC&4C$0J%CM*Z"EK:'@I$ZC43+G`P^13&2/F3\
M\'1+VL2S:+9>CM6J20M1$=VFFS$SMK/)LDHR4"@4"@4"@4"@4"@4"@4"@4"@
M4"@4"@4"@4"@4"@4&%97S7SI.STEE4XT%I692>9@D(O,)'*]5P61'I7&6MO(
MUCLE,%P3P@=!-K6M9`04<.AZ-K>1-OC1:SA6:;7Z'.<>>I._N5DNA],R$IDG
M,DLB1S5\(+/\DMC1QG#]A)W>/P;AQ=.=Q$>PBTRPNI[&41QBS"&[/AC9%K@2
MLYD?YQYYB;"5BHKH?3,:%SN)#H#.!H#5\(#L)G!0X=>/"87*V@X&W;R*)BP#
MIT#'1PPF\#L@[EP,;,TF2RB.1:SG.>.F<9WK?;\B\HM`.<6:<Q\^-8RH<"R=
M2/-],ZY1"*26-A58W'I"J+3CF+)0X"CKAP`$%LT,GXX(X7%-'"+!91OD*SG/
M&57'<R\W""D1-B>?M)"S.OXHZ@<#+#M501B2A4'>J.UGD.B3UJ!2<QR+.E7[
M]1Q'PZC,2KF^>Y9M,KNW%U"5G-5]::%T;I?,BII[3.J=4*&&(8674UMKR(P9
M0H,CK=1I'AQ)2,"!>;Y@":K*M@S-U=5N+;JJ(L4T$\\L;EF9G&9G:RQ1"@4"
M@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4&/Y_J;5FUT0#?:6M
M-?[*;Q,^SE<60G\-CDQ1C4H'>6X^2`$I$-(X!C["^67H9@=BV(M?97\PYP\M
MZ%:8;%%G.@M%;/>E">RM+:FV$2-PEUK0R1F^NHA*WY;7+XFB:>P`D].AW[E]
M"G9ELW+.8LY55!KDVZ#]1CD[236Q+68PF8TJ/'^8>:XF3CYJ+<]:/C9B)2:0
MS2*E@&J(&')1F8RT<-#RJ5QY\/`MW062282&$"Y`<&JMB9D>*&LB+EPV8M4T
MA6<YOQO7(CI+3+=A/A3?4>L6XS:QM>3;1'(0**I,=DR1S9O9Q()\T3%8MY@<
M7LS:66+2%,B_5LU;6S<9>82]B*SG-UT:EMON8.:BC=1J3YYT<2;+0TKKE9N0
MU-`GJ*VOCI_*5FX*JFY`*X*PXS*<\Y*6C.=L@I&099&7C)8CE=S<5G.<\7[/
MN:N<RA>1'R>@M*D3LOA+?6DL,OM609V5D^N6@VX9K`9"0<`E'1F%MP^5Q*$7
M(JN0B0S_`*!@QLUM9*PK.<W36+].>U=6O-1ZIU$S+#M4:RU]K)@>)6,G66OH
M9'(:U-F+-$&%BQ=O'1HY(F3LQ:M6?I[W%=WZ*V0;^>\TBGAB2M<60J!0*!0*
M!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*#7EV'XHW'?$[
MQK$-F[`=3/=IO)!M$.;=,"5=H;]F!)]A[,6-&Z_CZN;@-F6MY;"W\Q>1D00R
MPS29D5W%L4<C5FQ:M7Q=&FU-T1OY/G^Y4V!]D`=-^(T0UW/-C[TY,Y)Q5PZ"
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M%99(&#1'C<G+]RW<$'9Y3-9F8BD99,ZT0H%`H%`H%`H%`H%`H%`H%`H%`H%`
MH%`H%`H%`H%`H%`H-<?8'BI\?<9%VVOYK-2NS]_FE$F<1YBT*$6VOOV4EG2?
MG1XQ&#Q]7+VNJD</*HP<3,A&VI!/!3U:J^6PLAD:LV+5J_"/FFZ(WH1>U'QA
M/$=_SD_D:/A*<J%_P^TC7A%G/>YIZ`6__C.3WS;:-:/N1;7371]0MV<VC;R[
M@6;#FVW^=S-?DLX?GG.;K/#&?)L-X\\-KCSAAF[<:'U0P;S\UBOE+]V3=TM.
M]W3AX^SNL4>R39,@LY.>Q+.<LWC\.#S"QK-WGFNB$0SRO>C-JU:M8SLC1&R$
M[*,E`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%!KIZ^
M\5'C3B\FA!]B;#=3W>191)G%N;-'B%MK;\E!5UA[,>*:P*.*J9@7!/'RW&N9
MH_C`XA[#--D]<+VLED:LV+5J^+HTVINB-_)"#V7C+>(A_P!S$1X1?+Y;_P#=
MG9EM+NB:@E?]F'_08GI'(DWQ_P!?JG8,/?YVO:\B:X_YPU__`#L__<\+/.4W
M.0O"LXTXQ*KSK7^O7FP=ZE55'DIZ5WF86VQOR4%G.'FWY9S.Y&DID`<DL;6Q
M(H0L?&&#^V&&;UHX6M=7(S:MVK5TW1HLQ=$;N;8S1DH%`H%`H%`H%`H%`H%`
MH%`H%`H%`H%`H%`H%`H%!%OH7M;EKE98.-WIN6+P^4R7"ZD5UVR3+3/:TNPM
M=3'SD1U-!1LEV1*$K*)9HY+@HN_;IK6LDJKAG>UKEBS,X1=&,X1&V9N1QP\2
MAV9M9Q`/#Y\2C8`I3_*:F4N<XUJYH\0O^%-R@/Z`VIJ"1V06P\BB.2X)'//#
M+'+V%K7M1>[G:LQOF?\`&)?RIXG4<C5O2]P<7^(AI$"C_ED97*>62NR8T&;V
M_P"^],/^;I-O-<>Q2M^%5VLSLDG;\.65O+;RCN96K,[+5/\`*C'FW?'#\/77
ML?C6>N=KO>I-HSW)=GKSGSF*/%-I;OE!I!1=OD$?PADBT=0,DDX;JX.6&PU8
MN4QP27R:#GRR5V^18[.U.BD9S=''E5'W[6OB^^(W_GMR3A+PHN5B_P"&^I]+
M&F4X[6G(!?\`_KRW;OF$XYI[)^US372M$VB4D%*7=!9-&GV-KKY%K8LX1WYS
MFZS&[&=[8YQ_X=/('"XARVYYU`%`RLPFK[;=L2-1:8[CG#ETIZ00=2O94AR>
MR1Y@1>WS?N`[)V.C:+Q555@%96S]A8S:M3:QG=HC<F@2=.&0X@]:#W)=TT9.
MG384R49HO";AN@HJB/:*D'+-@DY>J88MD%'SQHSP55PR<N4$;9JXF4,FG9**
M&J95L@]KE6ZL,Z4@W-)AK")Q'YK%7YV<[.UIJ]&71B:J-X[8W&XX>V:R%RMJ
MI'QLC#2N,S"*9AE7`6[]<M/29\IGK5>S1OK:4QU%#GDRC&MFT]%@!,CDTT?%
M)X(@`:)16+B<RQ(L\(D!QIX]7R0354;L6(A5/T9F07=OFF:3-N_$=7586`=D
MIG-[Q+G]?7.<=G174@W9TDCTJF@R-RYB_=Q'"4%(;KZ.FA3%EMM[%EB``)*S
M<9D38/'7Y?/(PJQP&N\;%F+JXQ6E=''171#+^AMUN]R8[6:$XHPBY?4FU'VJ
MS&0*9#I]%C1%G#85-5'L?DS`>&47R%HS9"*RD60"CGD>G4>E,?\`^L6PQN6?
MDF*4UQ7KK!GRB%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%!';HWJW
M1'*,9#R3=DW3CZLJ*7C\"AP80:F6RMF2>^&.:46UIK:(CS4UG1]3SB/G&,<"
M/_04EDW9-1BQ]FZP+$3.'VC;.$;T4$>M^[]FXV?:*\-:01R+O/)ZIE/8O0\%
MY\)ND;_@L^6U=KJ-]#["%(Y7_P`K`?*Q\4->:OC=R/:+>R0Q+2SIM<(F?7NO
MWRVAXMX.WIY3CWB&;-,?\K,'!^V=L@I!?'_7@W>37CUL!46M;_N8KNFB*F=O
M8YKHXW\YB*6/FM?IC]S!6_\`QBG7'^MS,MZVX)Z^U'(F2S`:!;QT=K7;FHI<
M<,.DV(A@PW]!IRYA$73<.U4\G%MDM8.:Q:><4%@3#Y%0=8L6.]-UJS3&<8G7
M=2L[JQK8J;Z?\7;Q&6Z!3?VW!7A@<NR%%)TAI/F.1L)_UE,XV^PQ61;S3H/%
M+*-:^R?,7&"J#G7S;-;)'-49(HGYRUUKEK8LX1WYSFZSPTMCG(/AS<=<,C%T
MN>--`(]+"B2MI3M>0Y+S+<,S<.L_/D7,FV5),W\G=)DGF2CYR'8O1\=2=K*J
M,0S/'*V%C-JU:M8SLC1&R$WZ,H6;K[5C?/4A-)[5U7L\%K@?`]M305M5LE#R
M(61+Z6BBLUF(!I&D97A-12[\$T)6AYN0@1,=D9$2[;^LQ[,E%",E-19F<,XB
ME];[HT,O0S?4:D;G=0@^Q=P^1<^DV++9HQTK@7:L6!;7X/9HF0A2`Q/)0R%>
M1@[BCGG9@T?HGPT@%8CUD6+,@2,TPU\Z(]QGO`3-.9Y1U)#M22*50>+WECYR
M,C6S=$R,HK'X,*P*29VJ3CNS"T4&25NXLYC#37I20M9K:7MLQ!L2!8^R+IFI
MLS$TT[].[[,J"^KX08WFMH=B'-92QA)Q<1,LU\F;:0`G9K2:F]A<N*Q%5:QE
MKJEU'TE8+CL7*WJ_[<22VN<6.;ULZ?H$I=71]Z4VZ=B4M$*!0*!0*!0*!0*!
M0*!0*!0*!0*!0*!0*!00^\0'><TYHXKZ7WOKIFR=SK6>IY+(8JJ4:YO@X8S9
M#!BSE)QDG@ID\`0_-Y[:SK3V-L7(@,]1SS3PSR4Q-68B;41.$SU&_!J*ZBYF
M/\>ZH@<LY?>[*V;L(@#G&]NT>C=7=$:8UYW=O.*Q()'%R\_`G]T:GW*SV=K\
M<T+R4XCIV,*P2+`UV<$!Q$LQ](29$C4369K2-$1,3-FN4TOB9SQQ3#\0K9CL
MOH>,N^=>WT=&;=%ST1"M>YISW4HN-$-FQTU&7,^9=)/9TP*JXQG5L'L9*[)A
M-R$5)(N']Q1!A(IJ9@,=R,V<;[-8I?C6FKVGVJLCK[<?0FF9=O#=$JW'*X#S
MSG&XD_TB_P!7I0:1>K-1!]3N"^[9D^@I>/2*12#:*VP#Z:T6>FAS.,8K1_2>
MN8U)`QK<$PS3$1$W4OUUQNINQTYS.$*5VW`=<VYCFWB=:QBC_EGL7E;7<XG(
M6>'\XVWFLQ3U5=UC)N<>@WL-D<CCNXHELUQ&L]?N!A.228D!EI!@1C!47*QJ
MZ"I;,S6+&-F;J7Z=,5TQCDW.1D\H<B,?E!,<O&U2\<$GB`DIGBFY`J$!C<@[
M'$5,\4<<%Q>2JC9WGGBECBH@IEECA:U[6,+`]T1S_P#GST[])L*_?=%I.4\)
M4D_T!IIV"--8UT/HT)(W(DBW`&2TVB$A%"#2S-9,63)@6TRC[@V/8/LD'3P0
M@>"+$FZ2C-(L.S6Q>(BDY3P1"D<#YP.P78\?9=-\_P`9E6W=_P"D.B=@'X\0
MAK&,/9CI$WI`H/0"PFVR\G`QO)6NAXLR.OR,L.EE5B1E[=ZKCZK9C2_FRFZ)
MB,<)KS9KV%-M.;-C,YA,FZGTK>)3"3PARF*8R6#ME6^NPSN&.Y_K4T\SFRUI
M$QV:F$EP8D8]'%+"8[.%A:+`@H%1>OQ2<I\\<]RA2Z2ZJG$[C\QD/57.BR.K
M9D;V%HQDU7BB)2%2PWIF9:<65F1M?:[I&>!4Q^Q9L6]6APVO7R^;\0.7,YH"
M%ER8I-,+5]T[*URU1FJVI)#SGK4YL>;/=^\_/Y]MXG%S6PB<1D<-@T7*%XK%
M!\39$!\65G4I=M7;EDP]F^(%I*>,.D_0AZY14>'%-FI*3E.J[[,W^Z(Y_P#S
MYZ=^DV%?ONA2<IX2J0C=^EI`39!0.W]7FS))?%J.$B)_%"1-^YS\M\&[)@R+
M+.G2^=K7]BD@DHIEY+^3&_DH4G*>#*%$*!0*!0*!0*!0*!0*!0*!0*!0*!0*
M!0*!0*!0*#1L`,0YGU7XM>T-R30#`^G=,PD4)T),9Z-(GA^DN,R//T:,1/9V
MN0;'V1MS$C.]7FUB&Y'T*OB2)26--(P7>-<QX1HF;GPV(C"<=%;59NG=2E=$
MUTK*X3W5H?DG2,SUSTML344*:;,F>PBNMMWZ<W5T_M#5?2.N83HZ$[,F&P-=
MS+;VPMMS_7KR`PXV\&S`&'V+8(P/@#Y2&O52N!JS$MJMJ:Q6:1%:Q9B8OG&(
MI&^FVY;.@M-;B):&Z5BR6SX\,T;KOQ"5^DVTYC>TMD2'1.]>326L8GMA?4FM
M)$VQDDT`ZRCAHH!1G\5CY*4Q>:2F+[)UXW*MA,L-IB!-+KKYLTI.,37&:8UT
M5OOB:7164'#^P5YS).C^>=H:U<F@49(91#;A/=>PB<\DS_-KJ;6!;.)GM=S%
MG)QX;5(R#3Z-QU4@_G[T5L/:-]P26'Q-.%W=$$C,W4GTVSISU4NBD8POGPCG
M;;/G7:`6#E")WFZ'=5]`0OCPV_>NRS9]S-'9*T9Q5I&#C]1=Z=U_&9I]L"':
MU*K.GB:^OH[&4V+MP-19J7%O&,Z1WMM,=LW5UU3*DW67+4*DAR&S#I#1$5ET
M9>)#I)%Y%MJ!AI#'R"X]D608FPQ`\W(BGBPLD/))M7S=!?-@_9N\<+H.45,R
M4G*>"B>[7XY^%;SC]->N/XDH4G*>$HGR'<NC)AM:7R*<]Q^'[.]-22(R>`M]
M2R4/&7DF;P.51U%D>A#[8Q#IHO#W\?F$D9CB^P?9:/Q<RP&.&Q9?)LW$B7[(
MM)IA:KY<*>ZF:OGG+VC1$T5U/W/QZRF^S90;F&P)'-I/'Y<)>DF6LFNN]3@X
MV&;=`1XV"A>N$XW",G88G,)*6E0<9)V>$CCT@EN4L$":S_QGJ:SHT[/1Z165
M\B&@&X`9?KC@P^TZ3E;B4[]"2E6"R"(2!S]J.%:I&7B\;7W4W;CWC1M`@A4F
M2E:TQ>'%LU4$U0Z3099F+]$6HIAU37J6W%V7$D5W;K[;[;NOG\F]UD0"(18R
M9VQ`GFT$];"N>1VCWFBR>P<-AH(F-1GI0*9[\*QDC&EVE]OK%).W;I&WC,X+
M+?2G=GA=C6M*732[9YST]VOQS\*WG'Z:]<?Q)1FDY3PD]VOQS\*WG'Z:]<?Q
M)0I.4\)2"C<DCTQCP&71$Z'E$4E(89(HS)H\29F0$ACYIDB2#G`A@<LY'E1!
M4>Y;OAI%BX79O6:Z+ELLJBKAGD16J!0*!0*!0*!0*!0*!0*!0*!0*!0*!0:H
M>S/%:XTT84+\X9-CG8'0DR8EHC[C_G>*X;HV!(<2;-8:5CL\%CK.HQ$12[1U
MDC(1TP?H%O4CEP[0C9=KBHED;LV+4W^&,>]-T;L]S7-Q[R=XI<-&M-C2;F7B
MMWJJ!'G13DWC?K>>$=J]!\QP`J@BH\@VMNO0NLIFO`VF";9BSC\:/B9UB,%I
M,HZZ>Q!H!00<&K4V<(FU?XK41=:G/NUCUU[9*.Q;%L0E1'?7@"22?2*9["E6
MT)$>B"?A]=&"2,ZF;4`/D\@&.YALG6)MDN8812--"A!U"P)>2JA6QR3^M9(Y
M)&'I*Y=I=2E_?BZ*TBZ)SSTI`RSH+J7<X\@"CW@]S(P/.1PM"WKGKO<O*&OH
M:M%Y%DQR-QV0"83+NC9@^BI10:,<&@3>%/F!;U:SQ<(YJM6V21FD1_S_`$Q:
MF?.+,>;W8EPYNS=IR"R+O#8>L2.N-9'`LJUQQ)S+&BT4YA!RF-/4B<7D&T)#
M)K(3C?K^,%$&A>/@2P6`:R&FV+<LIKLB\P150'>I6+.FZ;4X[LM>,ZTCNC9I
ML&2H3;56KVBX4;&H*5E>Y=H%@N3@,(C^01^1':NA.!!&P^1;!G[9KDD=>-_2
MV.M(*Z6.DLV\HD,!:$!9QC;%./6_>OC1.L];K:0TVJKKZ$*JJZJUXHJJI%`.
M:BBF<1$99J*9Y,+Y9YYY7OEEEE>^665[WO>][T995^U?K/\`-W!?FB`_=]`^
MU?K/\W<%^:(#]WT#[5^L_P`W<%^:(#]WT#[5^L_S=P7YH@/W?0/M7ZS_`#=P
M7YH@/W?0/M7ZS_-W!?FB`_=]!'/I>"0@)&]5$@T-BH@BATWS%BB_&1X0P>HV
M6WE"$5;).FC-)=.RJ6>:2EL%+6S3SRPR\N.5[7+&.Z?24QJ(4"@4"@4"@4"@
M4"@4"@4"@4"@4"@4"@4"@4%.+F!$?%$#A\H."!!#-P1+&"[YL-%#![1/)9T^
M($'JJ+1DS;(X9JN'+E9)%%/')13/''&][!I<VCXT^O9;-"^CO#@TKL'Q'M[C
ME?0"3C3UT@7.,`>+99)(/-C]&'$/:0R&^RO@NV=1[(T&*>P4'^V06]OCY#?<
MF+[4Q8C7CNLQ?Z,3A/"Z[8ZXW%!.K_$-[!=Z=VKK88?:Z4U9P`P$ZXPTNVE*
M:61!B6WO+@$DG&QDW/FFF4@B!=F2AKPBQ42Q?&8\_>#'1>]9B)LV8K$XS:OK
MLLX1JG%+ISI/Q28$2`KQSH7D3J]A$UWSN)D.F=,SS36R0KI^.<!%W;N7:$DY
MS6Y<VH#=OQ-Y*TT7'220\P;'M$VK$R7;D#-;&5J-DUCSBN6F5PW*^,8_MZ+A
M`?#0B/EM["QG+;74>PL4?]5EL8SAI;67I&.-OPV;7EC.^?\`W?2$_P#O4/R?
M_4[HCWE1GW!6].B;>C]\=>G-MZ\=98+%N9.<H2IS-S[(<+Y6R5!;&(-9;.MY
M;5C-_8IXK1T[M8-%"N&'FS,6?(*+(*%[T1X8IKF^=UT1'#>EZJYC)\/,.;=`
MR=OJDKK"/0F+O2\$@K%['-0A2.+*[6%15/-%I`P^Q&NO$+O(S'54#:6O&AN"
MS.408O&2H$#*3.N?Y8\Y"U]$=623K^"083B&C8/IB.6:MKN7A!Z[>$./^4"A
MDV;,$G#LO(9+(C+U^>D\F./B!Z22`B2.G"#\J0=NUA.C9[RFA1"@4"@4"@4$
M8^*/R-^3_DVZ/^K2,T6<9VSZI.40H%`H%`H%`H%`H%`H%`H%`H%`H-5'4WC`
M\K<\S;+1FO+3+KSJUXHNQ#<Q\M!%-H3](HC?S2J,V*!O2(SKUH.6S1S/6/DO
M;")'*9$\(R^;)94;BQ,Q6?RV?FM71NSW(N^YB\5;Q%?^G=G[KQ\/'F@O_EWY
M-Y'DK<SO^5!%_P#*]4[AZ2R178A<EV^:C4H)U^T=A#0Y=1B7CXI^EY_$M;%G
MPQWI^:UANL\VTCE#AOE+B&'WA?,>E8AK)F[112/2!BT4*3J7J)7MG9S,Y\;5
M(R^4+>>]DNDF8,.FC+-3/`<V9M_8HXF)M3:OF:I8T0H%!A+=#K;3]J`@6H6R
M@,Q.5R#4_MYTB*>B]010>FTN8D`\,2R7QDNQ2F#Y,9K<&[&/HTB8N[E,OP?`
M(NZC$F+%/MFJ>P!",?T5-P+=X6(MPFI9((0('BKXZ<?(C8<]9)/#)PHLY)F2
MSG!'%8B5(N'#XB\S6=NUE7"RF>0C&-L>J,.D.WN+A^E]0L'_`%YR^R?,M7P!
MH]9.]_:I;.VCMM%!*+AJZ;K2S!9NX;K89I+(JX8*)*89)J8XY8WM8=V<IX2R
MA[NGB/X8W*_]X34G\74*3E/"3W=/$?PQN5_[PFI/XNH4G*>$GNZ>(_AC<K_W
MA-2?Q=0I.4\)/=T\1_#&Y7_O":D_BZA2<IX2>[IXC^&-RO\`WA-2?Q=0I.4\
M)/=T\1_#&Y7_`+PFI/XNH4G*>$L(;SZKY>V:SU##-;=(Z$V%,"G3/-*@R*0?
M<.O)9)2*8_=4,(/\V`(#(GY1Y@R8-G+YWDW:J6;-&Z[E:^"*2F>)8B<IPG1J
MEL7HR4"@4"@4"@4"@4"@4"@4"@4"@4"@4"@4%J3>=PC6<5,SG8\PB\!A4<:9
MOY!+IF?%1B,A&*=[6S=ECIITR&#V^.5\<;K.W22?LLL<;9>RRM:X:5I7XQ\@
MZ#D9?5?A.<QS;M^8#GJH8WOT\D_U1QSKTCA>V"RQO:<E0%O)P[&_Y3K.,Q9(
M8K(6&-UXM(BF5\,,CT^'2*VY[N48VIW>ZGA_".W-UD5'3SQ=>KI+TFFB\;EQ
M_(>BW1S3?'<2=HJ8.&S,B,$+BIQMI<6OA;,=(Y0Y`EK)9K,2=S+/._LQWXBZ
MQ%/_`*F^URC<W1ZNU-J_2,+$:XT[KV&:O@0%+S0>'P*-B8K'6%KXXV440%!F
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M'"B=I&H4?O3X!KED_=1E1JGGG8W%B9BL_EL_-:NC=GN1L]R/XH?B(_\`6/=^
M^+<+<XEO\Y?C7CF2)NMKR0,M^'U-N[I7+!SC[)9&ZC$Z`@"#^+'QSB^"C$$1
M2\Y@6MBSX8[T_-:PW6>;:ORSQ9RWQ5";0'F/2T+U0%62;X&'X5AD[ELJ6;6O
M9)[,YN75(2Z7O<+Y972<2(T1R;8Y71:6;M[8)8F)M3:FLS7KR2BHA0*!08NV
M1(90H)/Q#49:`Y[DR$AGXL7,2N>3>,@I`=R`9["-1D5GZ^-AP2;4\3&!$U@+
M6;&(\K$<)9&LG;H\)'H]G5.L0VIHBA&!9$S('[E\^/RR92=VF0ED[F)E3%Q(
M)A*'R*#5JJ5+.<<;),1K,<`CPEN,B\5#@XJ$"!!X8`ZL9[5GL:F>M(GF8U_K
M9'5\DE6SMLCG[5I(#K+U<>29:BUCFV<J$PADYD+4<[%G[ANQ<Q.&/&(F`*+S
M6783#5YJSC&V/YY>>N!.G_Q2ZN^+J$_HT,KH<TXSMGU9%HA0*!0*!061+?\`
MXBT?\I7GCZVXK6;?AG=ZP].R\4_3:]&Z^O%Z%`H%`H%`H%`H%`H%`H%`H%`H
M%`H%`H-0O3G9W>1;=DRY6X'X>.22:1#(,SEW6'3SO/7?)T/SD0$9(&3Z)JAW
M;B4[K69#S+'`L+B*[$J"*65;/0I%-LYQQ-Q9LTK:M4C*+[4^T;V+X1X,B.YI
M2&V_XJ'1L][_`-F#'>)<)JLGDMKCD;71&_ERQ0B&CHPNR'GU6>&=QZYF4J6:
MRABDDI((KFYOGE19MTNL1W8SQM3OY-U44B45@D=$1"$1F/PV)1]DD-`Q>*AA
MT>CH0<AY;(L!`00V9C1K-+RW\TU9MD4$_+?V.%O+1YK@H%`H%!'V;;6DKS9`
MG3>GQ@PU,6:P*0;4E1YL_=0G4T"=.\7%D"UA[P:N<V5.V#9VQ@<*8DVJPYHH
MM/Y8NTCH\,)FA=N[K+J--,PQN)QB'M"#&*@1,>:%CY^4E&XAB@Q3(R24E71R
M1G7UD,,/2BIHN]=/R+U>^;ARX6RR4SO:V-L2+AH(QZ$_&IVQ\IR*?J9\D46<
M(V>\I.40H%`H%`H%!&/BC\C?D_Y-NC_JTC-%G&=L^J3E$*!0*!0*!0*!0*!0
M*!0*!04"5Q<%-XO)(7*1Z1:,R\`8B\B%+9JIHDP1\<Y%%QZN:&:2V"3T>[<-
ME,T54U<<%+W3SPSM;*P8+YDX^YEXU@J>NN9=,0G4<9O@WL1]K8WV1^2.&N%T
MT2$PEQ)1]*YB4PPO?#`E)S)5ZFG?S*:^"..">)9F;4UF:RDG1"@4"@4%B2?8
M$:CTBB4$7--FT\V+A),(,$N.*&%GGM8#*%C1PFS#I9K#(F#MF-9EY$5<B`2)
MD[&(QD81D4LC;`D%K::U$AJT49?&#:LXVA.R",BVKLM\RP8/YE),&UFK9%@-
MQ</<8U"(PRMB"@,):O7C2+Q]!-)=\9/O3\C-EF=T9*5L[*7;.8.]?:?V!'HW
MYB66A^Z)J$.(O)_K(1>.L)*_!Q`6U:/V@S9\A#'(ZD)(25P.QA(23-Y^W&2%
MTU"A"HB[&-F7\*E+XC&X#S[,(5$!3<'%XOJ64A`0EMDLHDR&CXH00;I77=*K
MNW:U\,/9N7KUPY?/G.:KMZY<.EEELQ'BC;'JU4Z?_%+J[XNH3^C0RNASSC.V
M?5D6B%`H%`H%!9$M_P#B+1_RE>>/K;BM9M^&=WK#T[+Q3]-KT;KZ\7H4"@4"
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MG<C7Y<CXD_+9_N_<>O>EOAE[T^8?(?\`2_3N1K\N1\2?EL_W?N/7O2WPR]Z?
M,/D/^E^G<C7Y<CXD_+9_N_<>O>EOAE[T^8?(?]+].Y&ORY'Q)^6S_=^X]>]+
M?#+WI\P^0_Z7Z=R-?ER/B3\MG^[]R<7"7GK\1\>W<.57CB_+VA+KNU\6^"SE
M:^K(K=1PK@T0:M<%%L_*IGBV;((8Y97LDBGA;'"WD];6,[9]4K*(4"@4"@4"
M@4"@4"@4"@4"@4"@4"@4"@Q?M3;$>U.($.RC(O(9#+#[.(P&!Q=!H]F,^EI!
M)PZ0`QMB^>C6-\FHUD2/GS!4B,CL3BP<W*Y07#QT*3)-@1#4\>B<UGNQ\WA>
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M.C4UD5D5#N*B2R2F.2:B:F..>&>.6.6-LK7M7O6,XXP\9L6JS^6UC.B>2_\`
MW37-WP@](?2O`_W_`$K&<<83N6_EM?IGD>Z:YN^$'I#Z5X'^_P"E8SCC!W+?
MRVOTSR/=-<W?"#TA]*\#_?\`2L9QQ@[EOY;7Z9Y'NFN;OA!Z0^E>!_O^E8SC
MC!W+?RVOTSR/=-<W?"#TA]*\#_?]*QG'&#N6_EM?IGD>Z:YN^$'I#Z5X'^_Z
M5C..,'<M_+:_3/)1G&\=*S.=Z%CL/W!JV5R![TGS_DR!1K8$3.F'>+7:<9=.
M<FHP66=/7&+9JBLY7NDAG9%!)193V*>&65LVICNS?&C3K;[.S:B9F;,Q'=M8
MQ,:'T`5Y-E`H%`H%`H%`H%`H%`H%`H%`H%`H/PQ<MLU5T,7"&2S7%/)RCBJG
M=5OBMCEDCDNG;*^:.*N.&>2=U+8VSQQROCY;8W\@>4'"#E!)RV61<-ET\5D7
M""F"J"R6>-LL%4E4\LDU$\\;VRQSPROCEC>U[7O:@_*Q!A=E<E9ZTN.LADYN
M_LY1NRLVPQOGFXNZMGYBR&&&.662MU/-XXXWROE:UKWH/TP=-E%KMTW*"B^*
M*3G)#!9/);%NODIB@XNGCE?.R*V22N*2M\?-J9)J6PRO?#+R!^]`H%!B'9!^
M8%AIV$Z4D$"3VHW4CC<RXDA'`C]J^.RO,EBE/"T.'Y9DCCO!D',+PV,/E@`V
M7&F-FCN0"P[8L0:C;AU<N'6>NPVK8<-AX9^=,XM%7Y`K(Y444-RJ52(T^<%I
M#*)(54P1Q=F3Q=X[(.L&;5@('V63%@10<$Q&BF0Q7[08,VWMDS$GP:`:VB:F
MP=QS%HZ=1N.K+.A<1C0=LLFU>3W:4M19O4HG"!;E;!)))NV(RV7D,%0L)CYI
MVU++B"Q&Z.L,^JKWCD!#"3CB>DQ<?>[3/1>.1J83@8*=CU"S2/)KK(BP[8H7
MD)"/1),P_+%QT62-OFS1X3=O';LF6</"CLC5:=_*6[+^/2!_JA\OUZV,-_M#
MS[3&S]/^UI5JV\R@4"@4"@4$SN%/R)>/ODOZ$^JR*USNF<9VSZI540H%`H%`
MH%`H%`H%`H%!&3I3<FTM)QUI-(3J@!L>+"2L1;S1(EL)U$I6\;2V9"(<U#:L
MCS&$RY&9SC!8M@\:`I&5@@TR^5!QP0<=OC;YU&RQ%=-.M.2J`M^MY'T8<T4+
MC:R@H#K-W-U9]D0P]!)G1LT1AQJ+B!N#;*[I&/.U,VI<W9_YI*0MBD;LSQ?`
MR>28I=772FZJ/SSO^(.K]`N8E&74@2TDAN9G&8_EZ^;S'>I[GLIA&=V*:Q%-
MXT];%HOJ^:6=1"0N(ZZF4Z<EAI-1MKQ`:M#G\V+W9NT5INKAQX:\K!>^).(O
M#"<TC,/CDR`#='].=(!98*G5V</VOJ3F,W`PQLCJTD\C]W#TO*E)JO@S;F6[
M(8#?`/(Y*DX[(0<I6'=FM--8BFN>NL&S,*69'PXDZ-S44'&AC`LPS52S05S9
M$FJ3QKFHBI:RB*F2"R=\TL[6S3RO?#*ULK7M1E4Z!08]VALZ+:BASZ9RU5[F
MT0<,18D,&9YE)-+9.9=)CHW#8@$2RP<'I9)RR[82"$-\L<G3UQA=95LT3<ND
M!$542%P[$V4C>YMA00;&=T+0*T3=,&\J?S-G`P9(OE(2<6`/UDF`)!\0=XB,
M)P?C8,8I+W4:CK8B_-AHE$\F!=48/UD6V@PK9D3U`('E9/.)(P<2(XT`V99(
M:X@2*9%NC/IR\>K)MA`LT?8>U:'C,<7<@F)VQ50"'?`H=/#,7)UUU[/?U7JN
M,ZAB]XU'%"A)R0*/I)+9;(W:1.8SZ9%_-9')I,S"+9DF3D!?)!NEEZ*R'APP
MIF+C48$@HJ#!@QH9)H(>=(N)!N34&QHYJ+9@,#$!C'9T8W-,XL15>3IAE$XZ
MXL7UO`G;=FN%!R$F455CTVF*A+,YK]HQ,A8Z*;SUXWDT`-1C%<XISZ^T_(I`
MV#&\&AE[LVM[WB<=O>]VZ-[WO<.S\M[W]A70YIQG;/JNOT!C_P"":?\`ED?_
M`&40]`8_^":?^61_]E`]`8_^":?^61_]E`]`8_\`@FG_`)9'_P!E`]`8_P#@
MFG_ED?\`V4#T!C_X)I_Y9'_V4&5>?6C5+I;F'-)LW3SMT9IWR9IHIX96\LU%
MVOY,L<;7MY;7O:_X?PV_!6;?AG=ZPWV?BC9:_P`9?9=7B]2@4"@4"@4"@4"@
M4"@4"@4"@4"@4&ITT.Y7RZ2VWLAQI_9+:\)U/MR![3%@N7][NO=%J']@:[G\
MF(RJ1M]=8`=SB8R:@36&:NCV4AE><H;;`V8,%!/M<O6[HZ:K-(BNF*7Q=YW:
M\*4BNJF`A&O!'#>^]4ZMAFXVF6TQG4,WCNNH/I+;FK6\+SD91B>+1'7`J:ZG
M9L`HJ*Y[&!XC!3N'JM=MG&>P'D'U[)D$Y'#Q8OK$S3_C?6)PSX=7(SKQ+IT<
MHV5-.'3MCK?'LW9L;F<)U01,:2Z/ZI'C>?SO-TEOI-RR(+1N+EXP:VK#X_`A
M9%SB]V]$)O(HKL<IL)Y`9R3+=Q[L8WQ9OB8UZ)K3#12Y(+3L/WFXW#I4Q+X>
M8C>Y6W;_`$SLKH`DDT>+B[<T3/G?:@O6\<O,[(XC9+%6L@*\L10`P;$7*;B2
M:H(^C-LW>MI(F($TI.7=B(VUBMWZL\<;VXNC!08FE.P&+^2F],0J4M!FXG.N
MRTN'NUHL2F8.`MG*V02+R2=,1Y`(S;MRQV[M2,QLI)8Z2G:$8EV,?<*-XU('
MHL>CV]3:GC>H(PJ`!+E#)0N4=26;3>2N$2$SV+-2239(Q-)D50;,T7QH@FS9
MLV[9DS'@HZ"'AHE$PX&(@`((:&3J#"^S9!LDHP3C&BL(HYD[\ZO&I//3Q$>4
MCFFTD1C8F]+&8BR*-C\MEWH1`?E&(.CD(8/7#YL0E$CCX7%"Y8L4T_ROZ$Q?
M*&14+&59)*)@X%-;I/)5-"F)B42%^NLJ[(%S#Q%LQ88.7SUPNXQ'!AHB/!T,
MTA$<"A@+$<+:$750:<3OY2W9?QZ0/]4/E^O6QAO]H>?:8V?I_P!K2K5MYE`H
M%`H%`H)G<*?D2\??)?T)]5D5KG=,XSMGU2JHA0*!0*!0*!0*!0*"WI9+8Q`X
MR<F<T/B8M$XR-<F)!(CKY`:'#"F:=U79`D_=9IMVC1NG:^:JRV>.&&-O+>]!
M@3W:/)_P@M6_.H?_`/DHM)RGA+`&X]S\\;4.PPR"[Z;ZD0AN1!TF'@[K1IT:
M:+/?,)MSA/#:6M-A*I%@K/!VT!N1*@VS#$H1<736=YM5VI:3\M=T^U&/6K?P
M\(SLPQN/5_0L*U1L@CKL[KYE(8K+8P33!VD,CQDQ&4,`DU&2D$YD"CWSJ-TR
MHT@#R;.%\L@]W>6+K`?FI2DTK7"=BVI)%_#[E+(J#?=3`VD7RD/04TB(07-(
MHVS@TSZ=D#^6;8.#"#@2[5,-'TE.2TJ'C4F1+QUOA.)4&-CI%'[QH3&1^;*=
M$83A&'MAE"K&QOAZ2V)2V#3'?>I3D5V5M*0[=V:&35A+%I)I%*A8`))@8;&[
M%WE!8?,!0+-"=M(KFRE<R<&9`_+S+)W)).H='YHI-)NBD73QZNU)G8]G<FX8
MXX8=`:KPPPQMCCCC*1V....-O)CCCC;.UL<<;6M:UK6M:UK>2U$I.4\)?U[M
M'D_X06K?G4/_`/R4*3E/"7H$NY.1!+15X\Z%UE['!-;)%JTD*!`H2<(MEG6`
MP('88N2IXX]P;J(B@(9F^-&7MTAXI@\?+H-U!W9RG@O?5J<SV".:;"W'!8Y'
M"6,H=RO44+(AV;^;ZFCSR.+QAEG*)!F[)-$MGG@Q20KRG&*68CXL.E;S6Z!.
M5MQ)&628=;?M_+QN';SV%.XYK[7X5K-MV["Q>>T:&N':S04-$#56B,BV5L$B
MU2<.(]K2%V?LLC1/%'-\;,/@D)C"+Z5R40S4$1PCJD:V2(Y!8I$R<N-@0K5@
M;GQQ*23,Q;)RY)2(TW%,`;-R0?/5W3O-`:%%CQ(@?BMB/#C&:#`8U:ML/-T1
M=M!'PY)!F^$MI:EU]-9A%<HD1`Q>=;.A;1!%%J_<OLW,VUQ"9DJOY6<_'1YI
M81*#P%JY>:W<2IAD.)LIZ-60CY<*3GU7EGL5N70^+Z_Y^F4)A0(;&8G&-4RT
M0!`B&^#4>,'-(N2P1;MT<?\`_5%EE,LUW*^:KERJJX544S$>*-L>KXPX%_\`
M`T+_`+)QS_Z.SKH<\XSMGU791"@4"@4"@REH'\I3F+Y1FG/TV%UFWX9W>L-]
MGXHV6O\`&7V35XO4H%`H%`H%`H%`H%`H%!_&:B:=\+**8874SLFG;/+'&ZBE
M[9963P]E>WL\[XXY96QQ\N5[8Y7\GDM>@_K++'&WERRMC:]\<?+E>UK>RSRM
MCCCY;_Z\LKVQQM_IOE>UK>6][4'F@4$)@(/;6VMJ]+8)=.;DUK'];[D`:_B4
M1U_&.;G`1@$4Y[T5L%VLL]V/H#8<K?$7TGGTB=KKO)*LW305:LV35HV:X)W+
M=$1=&&O.=:_?M";4^&QTY\U.,_Z2*%8RCSYGVA-J?#8Z<^:G&?\`210K&4>?
M,^T)M3X;'3GS4XS_`*2*%8RCSYGVA-J?#8Z<^:G&?])%"L91Y\S[0FU/AL=.
M?-3C/^DBA6,H\^9]H3:GPV.G/FIQG_210K&4>?,^T)M3X;'3GS4XS_I(H5C*
M//FI'#P5JES!IF?NU'!:>[MUIKK=&VIH4S3<2*>[*V!`XV9D4D./$TD4[VPR
M5;AH\&8H,P$0B0H##8F+"Q4`&$,1.,ZKH2SHB/)"6X;_``4VBFE]E%8BWCTJ
M;PZ4[7`19,N@MDR6<)3N.:GDIA7"-.Y@!40O'"DT;C)K'(1)LB8-8:1F4>-B
MH\7#'KK<REK[7D-U9$QD(@0-N`C@GTI1!HFL[>NWC\B[6(F#ALN2</#$BDI\
MJZ>&9))SS\E()(<?/S1PD0*/G3M8B]*!0:<3OY2W9?QZ0/\`5#Y?KUL8;_:'
MGVF-GZ?]K2K5MYE`H%`H%`H)G<*?D2\??)?T)]5D5KG=,XSMGU2JHA0*!0*!
M0*#%6]=LA-!Z1W'O22L7Y..:7U7L+;!\:*QPR)D`NNHD7EY1B.Q4\B=WSMB'
M70:64O9/TA1/V=[8^6]%B*S$1C,TXH,;<[>V/RY$-,;'WU$XG+8UN'6FW92Y
MC>HAY$9)H'--4\Z3GJ)S%$"\NF3X-L$$1@&L=@1O&5YLM=J(R43'2%P5V$K7
M'1DL6>]=&K'7,17C,9XZK[S5[N`P7;FS(ENP0Y@FOH\XUH@!FV(:ZX^)N9CI
M*3;A*B]H&V4F--%'6+.%RC`42B0AP(:8L6[,ZNU7*A'A84NK$[M]+KMC(H+M
MW4TEF4?UZ"C^SBTRDDC+Q]@)%P_`JRL@`9ZQ+')->5"RKV&/(J'`[:BI@J4$
MR,DH-R;2:./FC>:Q8W&&9*:='7*?XO71V;^2YNK^QJ_^.94(QC;'JDY1"@4"
M@4"@4$8^F_\`]/07RG-1?XHO18QW3Z2R-M_8Y'7$:9KQJ'E-@3N5&6\2U]"Q
MMUV;8W*W[-^^;YR628LG[*%0L,.&$CTOEY)LXP$@ACQ,.,D<I=Q^+'"0K<!C
M9X,"%.YX4!2G9BX5DQF,T"QIK&FQ=9N]*%410IC@J^(,XF`>FRC:+"RI<R09
ML%LURA8J;>E2S\+[H,`Y;.1V5L*5Z?A0DF7C,;%&@.WMJ!Y*\C+."2@D+PP%
M0*&EAC55^=V>BW?IFC^(8@(3UJ-R&/2AE*2%`@)T6E(KPCWV>K*T*A44US%`
M4'@X-C&XI&F"8T*&'X9XMVC;#+)3/+-17-5R[>.W"BSTB1>KN2)0@X=$2+IT
M^=.'"I,;Y8MZ?V!']:Z$VG))#B5<I*0R0A!0@`(?'Y%(9`=$/1@4"!"C45G;
M\B0>N$\+Y>Q28#6>#LR;>C`0TF39ELXQM<OL)XNL^"!A`9+3L/73$"V`Q-?.
M1FL<UL&#1)K@KGCBTOCCDIBE;/+'&][6O>]K?@KT^)J\_L]9_P#RQ,S/?F_5
M'-5/NQ&P?S,0WYR&_P!DI\35Y_9/PD?//".9]V(V#^9B&_.0W^R4^)J\_L?A
M(^>>$<S[L1L'\S$-^<AO]DI\35Y_8_"1\\\(YGW8C8/YF(;\Y#?[)3XFKS^Q
M^$CYYX1S/NQ&P?S,0WYR&_V2GQ-7G]C\)'SSPCF?=B-@_F8AOSD-_LE/B:O/
M['X2/GGA'--CPVO$?F'0GB`\;ZH*ZTC4<8R+H/7RZQ<>;*/';:X0GZ\3Q3;N
M6Z:.=EU!^+?.^6=O88*99X^7+&UKR;=8I3S^Q^'BQ$VN],TB;J9Q3/6Z258>
M10*!0*!0*!0*!0*!0*#5W,(W&V_3_7IGJF"$9[KB3ZBT^.YVQ<PDO/1[J&#X
MY,$=K:WUHS%#"JK+<!C8RN9PK'P>#*<340_UNY&8FFD-;7C9K1%+IK-?:=FC
MCG?"'7`#KIUIF"ZSZ@D^V2FXH3NCPK%VSHG%F4H3A.+(%I-WM29A)5:'$`!^
M0A)@CL]2?RTN5DXKUT'DC\RDZCC/-#(L]VM8NB>][TV74I[LSP7J/L.3L7@V
M0&)5"Y#"(O*2@9=_SG(#K3?<<`N=SQ-64+EQ<(9Q"%S1H4C<.DCD>B:C8EJC
M@$?I0(['MG1P=<3$:+XVTIEUZ4JVE\W.YR6T?K21[)E):63:70^.R^1.C$>!
MQ5T'+24*/+$XND!!!PB8YE&B+IV(9M"C5Q(6K=M@U/DB11!R]6,SC-,%IZ"_
M&;VC\IP!^J+RK0G"-GO*3E$*!0*!0*!01;XR=M!_%/*+]^Z;LF++EO1;MX\=
MK)MFC1HVU-%EG#ITX6RP1;MVZ.&:JRRN>":2>&6>>6..-[V+.,[9]7L1B8)=
M0B9DQ;Q8PTYR/!<0T>V*G*9)"I/M[-PZPR*F8&UCMQ$A$ZE<#T[CPD]4D`HC
MLC!V^*101?7N<<FLW&&WT^_IMPD,!``XJ$$1F,!A4=CD?&L@P$`#'M!(4*(&
MMDV8X4)&,4D&0\<P:(I-F;)H@DV;-TDT44\$\,<;$5:@4"@TXG?RENR_CT@?
MZH?+]>MC#?[0\^TQL_3_`+6E6K;S*!0*!0*!03.X4_(EX^^2_H3ZK(K7.Z9Q
MG;/JE51"@4"@4"@4%)/@0LJ!&HQ)13`['9&)(@3X,JU1?"S(4PS6'E11)DXP
MS0>,"+%PNT>-5\,T7#=91)7#+#/*UPBP3XCTG)(PRA4VO-9[$H_J:>Z0@8.7
MRQT0PUWKC9D0RU],1T9*-D&)Y_("4%OC$49_-"TMV$.`9DAPZ5-49%*+&R]Z
M:UTUKOB:[-V&IZ$KX5TC/K&DYZO-IFUDY2"EI:R/'VBC64KP/7$CU4S;F,&0
M=EGZ`<ATL/,Y"S'J,$7*[VS@=87Z,UP1'>V7<Z^4X+T@W+,)@TCUE+<)EMB7
M2/4X&7Q>+E]@3QY,GZL>F;*,CB(HLZ+M%7#Q)JSA\?Q9.4E6K]5VT=%BSLH9
M,&B!$5QUT\E)[F(^J.1=_EO0G9+U9KPH0]7#[L\7[[T)5LY]#99$7@\?9VY\
MWYEO=\_9-+*YX>DNVZ/LUL!&,;88L]WS?X(_4?\`ZCR=_516NY:R\XYL]ZS\
MT<+7[3W?-_@C]1_^H\G?U44[EK+SCF=ZS\T<+7[3W?-_@C]1_P#J/)W]5%.Y
M:R\XYG>L_-'"U^T]WS?X(_4?_J/)W]5%.Y:R\XYG>L_-'"U^T]WS?X(_4?\`
MZCR=_513N6LO..9WK/S1PM?M/=\W^"/U'_ZCR=_513N6LO..9WK/S1PM?M/=
M\W^"/U'_`.H\G?U44[EK+SCF=ZS\T<+7[6"-Y=F%9DOI,4$Y3Z,;F6^_=>%A
M+4T3YL2;&R0M,VZ8QY%S'NAY,Z9/3;G%)@U?O1R89AFMZ88(#QZ*[K!-F8OF
M/1JS-F9NM1-TZ+64YPV-Z=B>PH\#*&-KR[VS[#FA:\DD3`2[>YP""^<9MF8^
M`ZV8O46B^,8C;)LDW7D1%DU/S@\H7EYAH(L691D!DGKFR[1$?)-L*=2/:8_5
M6J1J39K%"$?.;JV7(A+QQ&HR"7]%,M=:Q%"ZK%.4;0G0C-')?)LZS#ZQB)).
M7R7-P8*0>*2PNB_=UU7!FT(`!1D?83&PHF/BL7A,AB,"#F8H?9^;)O#1E]9F
MP10;V>%C)!^6)N;)^>?DWKM\ZS5=.5E<R/6DYMS'P!LJ.`E):7&!2I89$`+@
M*WD,G<#&N2Z88)G(BP()@0(+W08M5BY@6*1=.V]R!%FWRR7Q".>$9V>PT_NZ
M8[ADZ1&<3B`25TO"(X]7<:WU6&'1<_ZHA$+NX9CW<@>,[$'*TPV.98LS<^.Y
MW>)BHM$AD0@\5-1C&V/7J[1YN-E1W%`H%`H%`H-H?@J>^L\*?'W&O\*1HQVG
M@M;'6UHXB@4"@4"@4"@4"@4"@4"@4"@4&L^+]9Z<TQO;M"&SFVUO7E^BHH6_
M['<^[[V6']#?<D\NIM_^TFN-:RN.V=>R;*^>'W*>GM<?-9N6R6"Z&2EI,X1*
MSA9OB+M-J(TSG+*7W0SFK_9T!_<]ZY_DA2DY3PE+L[/ZK/,^Z&<U?[.@/[GO
M7/\`)"E)RGA)=G9_59YGW0SFK_9T!_<]ZY_DA2DY3PDNSL_JL\S[H9S5_LZ`
M_N>]<_R0I2<IX279V?U6>9]T,YJ_V=`?W/>N?Y(4I.4\)+L[/ZK/,^Z&<U?[
M.@/[GO7/\D*4G*>$EV=G]5GF?=#.:O\`9T!_<]ZY_DA2DY3PDNSL_JL\V/\`
MP^D]OS_FWEV4S'"VO-1B.8]11R(:KS;`"\BV2DKJZ,C5MB[0*9(E$P`5\@FH
MOK[6\;>-R+<.[PD6S"JQXNGKG7D:M8SMG^.?EKV.VM:UK6M:UK6M:UK6MY+6
MM;\%K6M;\%K6M_HM1EYH%`H%!H#V5TOSI`>J^S0,XWQIZ(&\-Y0K/,1)=D0\
M(2PQ:\J<V"75\V1$PW<X>C%1A$:XMDG:Z+]@\9JVQ<-ED\/2Q,1%\QCR8MV;
M4]V8LS,=W1$S_P`K2G>[-Y$^%#S]]+\!_?U;K&<<88[EOY;7Z9Y'NS>1/A0\
M_?2_`?W]2L9QQ@[EOY;7Z9Y'NS>1/A0\_?2_`?W]2L9QQ@[EOY;7Z9Y'NS>1
M/A0\_?2_`?W]2L9QQ@[EOY;7Z9Y'NS>1/A0\_?2_`?W]2L9QQ@[EOY;7Z9Y'
MNS>1/A0\_?2_`?W]2L9QQ@[EOY;7Z9Y'NS>1/A0\_?2_`?W]2L9QQ@[EOY;7
MZ9Y-KO!;EN\X=XW=M%T735URSH!PV<MU,%D%T%M4Q11)9%5.^6"B2F&6.:>>
M&5\<\;VRQO>U[5X/>UC.V?5+"B%`H%`H%!;LOD:$.BDEEKI@1*M8N`+R%T-$
M687*/VP9@X(KM!UBC\6-R>KI-\TVN+XDP:9+9867=MT[Y*XA@[4?3<8VS$H)
M/?:9--<PC9.N8+LR)2?9!'5PX<]$[*]2>T@,\2C.RI61$2:1Y'FB0<668LDR
MSMN1'"WCTB/<M,"TXWW7Z-S)ZFW]3(KL6JVT-=I.BC@JT&-E)M&L%R+H$N<:
MFVS%'(G91VX#NHS)&Q5%OBHH/7CQQ%WBBH)?XMR4?F3W)J$+'T)89VKK<3%7
M2Y-LVDI.<QAA'W#D)BXS,MT#+HHD.57$8-'69-)-SDHPQ;.,G6*5D5+XBDY+
MASFT,3*@`2DNC&!N5M<WT7#YGA6)62,DVBY!1X`'Y.[.S#7!@U=/<W`Y%RCB
MT;+N;YV114SQ"./>'Y'?1'Q:&_\`[-6,8VQZB'E>[G*!0*!0*!06B6_&5S=\
MHS77_P`HY6;?AG=ZP].R\4_3:]&Z:O%Z,#[B^V[)G`'6VJ[N(:QE:)%6=[QL
MH%=*ZYC+!9JV=BX*"?9O5#&VI/=THSB3TP&<0B%MVA>8R6YY\&!:]FPZIUUZ
MQFP<Q2&#V(U!5XN@/9M6**Q%^\*$%DFB&#=-5\3(KNB!%XI@G;-T_?N7#QXO
M?-PZ7574S4R"W9'/(C$BL0!2$XT'G)\<4CD-#>Q<.BTC+MQSLP]0&#F2+EXL
M@+$,'A8R0NCB."C&RQ`L[9L\+K4&+=7Z>*B)25V_M@PPFFZ3[%V%0?CDG*<0
MU;!G+UN^3UGJM@^M9TR#K+L1C^<3!\DA*=IR4<R,G\!4<!0&!P,OIZ]>7&9O
MS;WXIMH?%W-?T:)T(QC;'JXI='>4"@4"@4"@VA^"I[ZSPI\?<:_PI&C':>"U
ML=;6CB*!0*!0*!0*!0*!0*!0*!0*!0::"GY2?:'Q^PS]4KF*O6QAO]H>?:8V
M?I_VM*_6WF4"@4"@4"@FMP]^17R#\EW0'U3Q*N=TSC.V?5**B%`H*2>/@HJ$
M+263F14<C@`<\,'3YTBT$!0HD<AFZ?E"Q1^LW8CA[%LDHX=O7:Z+9L@GFJLI
M@GCEE8,"9/G73VOTU(J<VOJ"!$97DW='TA.,&FVU==-1?LE7$%)N7MIOK2,R
MTJ\38H3%P$BFR'`,.4)P7VMH'X?L:Q<-OI/OU73#YDNNH7$M=]C]00N"QT1$
MXG'YGJMD&CX)B@/&#V]^7]!KJV1;(8X8>=<N5EW;QRI[-R]>N'#UVJLZ<++9
M^MC#?[0\NTQL_3_M:8%K;S*!0*!0*!0?5UX?/Y!?$_R2^=?JAB%<[IG&=L^J
M7U$*!0*!0*"T9^"?RF"32,"U6C<E(XI(0+%P_NM9BW=F!+L<@X=^CIJKY-T%
M'.*JN".%U,\,+X87QRRME81=,3DUM13@69Q/GV,Z3CBV@H40BVJ.;8F3FT5@
M)A$MM6=<M;`U_/==R*=Y-W07)B`=N(W-VA0<WR/G$E]BN221]S<$FR*FN]6:
MS6<=.%<>M2CX^&_,2C3:K21[/A?I^PXKT0S$2<+!B.#N*2C=_7L[ZO8J*A2A
M][Z^B@5_,K0J1!L9$$<RV/(O6V3L5Z=FK8O>PNPIY68LY::5U3FJ^S^=9\`W
MIH[8P6."YA(=D]NR3>.Q1"0:2%=8:W%I>'/LOE]JN3-,@;IPBS-&Q<)6?'28
M48H5/RE(4HU2&B53B!(FZ?IIM_-$];*KIT[P*0TU+M4(-9I$Y]K'6FMN?8P+
M'SF+R9Q+8K,>?HJ8AH^2Z\LRG"<,"CY2%*WNW'DHZ2?0%RI(?4A,NWE&2(83
M-=4WX3HG/J^[*_.W>'Y'?1'Q:&__`+-6,8VQZLH>5[N<H%`H%`H%!:);\97-
MWRC-=?\`RCE9M^&=WK#T[+Q3]-KT;--A%Y)L-A)-=Z2V+%XY+PTD"1C9\J3S
M3.2/5(0T#]L+U2.!,QQ0`ZVH[!NP:D7%S+-`+'6DG&[`/")4,'CH1-/%Z;?Y
M7]KS7T3U9#@T$A`S(5'0:;KT=)9X]*$7S\D^=%S9XZ:*.'AB0R:2''Y&02B2
MFWK\[))"3)'#3]\4(.W2P6WM+;X#5^,:&+#R\MG4[*9!=?ZWBB;-U+I@_;V0
M5+.FB+]X/'"HU%V*Z9682\Z_&QR-#<D+D"%B!$..)EB*\Y?W&=0QV/[#E^UG
MKXS*Y]*TK!VQ^3+LW6<+@Z2K9RVUW`V;)BP91N)Y$6J9LUB@@J;EIW%L2EIH
MWD'CB04E='6]E6@QWM[\4VT/B[FOZ-$Z+&,;8]7%+H[R@4"@4"@4&T/P5/?6
M>%/C[C7^%(T8[3P6MCK:T<10*!0*!0*!0*!0*!08CDO0&B(9(3D2F&ZM3125
M1@.+D,DC,DV+$`<@CX`WZP]2G#88F8:D10<O<05L,)/VR#)_<80LU65NR<^:
M+2<IZ_EERB%`H%!IH*?E)]H?'[#/U2N8J];&&_VAY]IC9^G_`&M*_6WF4"@4
M"@4"@FMP]^17R#\EW0'U3Q*N=TSC.V?5**B%!:,[EZ4$BA>5*QZ6RS(9@UP:
MQF"@'4FE9T@0?-A@P6(%-KI)8J/"#UJBX*EW@J-1]EDY/RLZ!C0PL98AC*)Q
M"9;)`K/>D8EKIQBYE(*80[5;1AC*V&N,HVJF^C><DE!//,;.)\Q+II2-<P(`
MA8[%C*(\;%\3BT=1GLB&SKKK)GN@^2CNW\N[KG^WNJ_U6N?Z];&&_P!H>?:8
MV?I_VM(O5MYE`H%`H%`H/JZ\/G\@OB?Y)?.OU0Q"N=TSC.V?5+ZB%`H%`H%`
MH%`H%`H(6>(TY=L^%.JW@]SDS?--+S)RR=XI(KY-7:`_)5NXQ1<IJMU;HJX8
M*637241S]C[%3#+"]\;H'S2>Z"Z@_/T4^CK4_P#!5>])SGRY/'O1\EGC;_<>
MZ"Z@_/T4^CK4_P#!5*3G/ER.]'R6>-O]Q[H+J#\_13Z.M3_P52DYSY<CO1\E
MGC;_`''N@NH/S]%/HZU/_!5*3G/ER.]'R6>-O]Q[H+J#\_13Z.M3_P`%4I.<
M^7([T?)9XV_W'N@NH/S]%/HZU/\`P52DYSY<CO1\EGC;_<>Z"Z@_/T4^CK4_
M\%4I.<^7([T?)9XV_P!R[-5[%Z.V;OSG2$%.@##-([N>/M&Q9OKO5WIP%]D$
MD=FIX8FE%&R"Q81G>[T4F4P?A?6"3;,P',CL'`MWFW6(QG'5R;[.8FU/Y8C\
MLX=[+"^U./\`#ZQ];:VB&IH>,@\)'*,`H[-XZ56>/'94T<-%GBY,_*).>)+.
M2\EEDF,.GIR324T[>&3QI\]*$W;AVY55R\FUI;@W"AK1$"```',_VU/E2##6
M.L1CS`>]DKL9@TR,'CQC-L]0ANMX?@1'/)[/B+-TS`MGXL2+'2.;R2&PZ3#T
MZZ^RY(I!&C$FVV#*!48=;C*P>,Q"9S``R)-V;IN%R=$UPT90-$2Y$'$?;$4+
M%&8BSY15;-P@X+KD'[=-SB&1*!08[V]^*;:'Q=S7]&B=%C&-L>KBET=Y0*!0
M*!0*#:'X*GOK/"GQ]QK_``I&C':>"UL=;6CB*!0*!0*!0*!0*!0*#5GLW7^W
MFG:71>UPT<WOC`9%RSR/!@*FIAFFR2&U)9J+;'64]G.N2>.S+Y/!@UW'MJ0T
M`L7;$X0Q=H2X^V1D^#T/D[$&JQW8C7:QK=6+-)NV3[L0;I`]^NG&YQ4$!;V0
M72QZV<0B01K9<7Q"*+3D#J`WSNA%LR$\9$U\8Q)6LX"-/6$;9(1A10FU?MVT
M5=JJW;C\MVZN.BM4A(]KKI@/MC`2P-;/]J8?ID89C\@D6QI!)8@7X[*\_MVT
M@B<A3D<C?G%I^/W:J:LQ=%&BNRV1Q2-F!LBOK)N2&BA6*;8RI?71NV51&T`M
MV7*.8-<[E@!O>,\93[G'C`[L,3)9^F:F\UF5]@,RN^Y3HW.<31BVC!(EH]TK
MD08,Y#!X[+'JX1"+*#=C(2(J@6:5I-U)M:-5T3%-$\+\8HW`Z$"2..:DAX65
ME-B&33)N3LH_VP_CI38N0]P<)N@C65$(LY?B7A`:$7'#4U\BA@PHS:-LI(;-
M2.Y8J[,SCHW8>;6.4_*3[0^/V&?JE<Q5ZV,-_M#R[3&S]/\`M:5^MO,H%`H%
M`H%!-;A[\BOD'Y+N@/JGB5<[IG&=L^J45$8C+;.8'#,]UEJTY'#&X8C&\"+M
MD59R,A#8<5+)(7CS/8!N.LEF0LH[0>-S[>"J&1<Q.1S'UHQ;L@SG`\@7;AY]
M>3U]3ZBMKJYV12&7'=D[0FMAN<[V%(<K-;DK";OLQ,>BD6:K*`X#`8YD4)81
MJ'@L,K(W>O34F+RR:F)'+CA/3KK[,R4"@^2CNW\N[KG^WNJ_U6N?Z];&&_VA
MY]IC9^G_`&M(O5MYE`H%`H%`H/JZ\/G\@OB?Y)?.OU0Q"N=TSC.V?5+ZB%`H
M-%P\1L37Q3!2),RV_>7-^=O/7#<2R?I25URSN&']FN[)W".%G"N(WG7;L$CN
M8-<4@KZMUQL!XW19M7$%V\10BIN[9,6>,39]8GC&R_(MNV^C5-3B9\T'P)J]
MD.G^6)K*_;#"SV+?1&XMM;UC6L]N:-E8C"6QY^[)1".&#SP8.+O1LKAIB!GW
M\WR+"CP8>+=<TI'G-V<1%8G?YZ%BG-@[Q*[+UC'Y;O("MLW6GB*;/A:4E<P0
M<&$QS6R'AF=`'F!!Y`V<F8KXPZ42]V(-!TI')R@^\D6CKO,B;708)*ENI/TY
MZ>_'MJ2DD>UY7T=QOSO'<L3$=VMVEI6%DI6+UA(6D.ET-C\CU@,F.Z'L)(2,
MT.=!'0?$AG`QCZYU&1Q@K*!9ALNL1#*T3"9TTG3Y5]:::,!,>VM_$=#Z*P:%
M8)&MV,A74FM.CKR.)+2GT'=7*>M)8N1+1YL*F($4WBL^F,0;2<1G94TV)PR:
MQ[U4207RLLY%(K.-+IC9,QGM>HMWGO=/SD;)']*1%Q*B<`O']Q3,3(8WJR`$
M]E<Q!MOQ6"S/-N]EEKXE-BJ&@`@N2)`U)&(&K01D_'S\L!.W+W=OO-+5)\J+
MA3Z8WJ>FD%/RMOJ*7CP7:<GTR#U\$UY+`DF'*!>5-HS9C(`$KDL_Q=L)4;D3
MQ'6F6<E@C9O9`R[99@PQX@DW'$I%--:5QN\5,O=<#KMN4JZ#A>U@>UX";([.
M*`8^Q&--62`8IKW:*^@]G;$D6G):7,2>PR,G1^P(0*#6!RH2ML(2W<Y:Q=`S
M6RI[`2R`I?2^F=8PK2N&7/"&2.NYWGM#PL-O[)5Q'X+S_D[.9.4A*N2XQ!W)
M84Q,.VS!7-5=3-HV<O%4$+J+*J^;3QLJIDI;*]S,W3,9/FHKH<Y0*!0*!0*#
M,_,'Y6O*/Q[QK_Z+)*Q;PW^TO3LO%/TVO1]96TY9+HC%LG4!@CS8LV+$&8"+
MQU-]@%!X%25E?-FIM)E4'>$6@X)!%<I)C:(\P7LQ;7&QB/2>6$04<*^3T>SK
M6-RZ,1(<PV!-U-BS7-0B0D$IN$'QP?F_,/E"+D3&`##SV0.'A;J)B(N,)%)`
M>0!CQ]I)*).>L_//POZ@4"@QWM[\4VT/B[FOZ-$Z+&,;8]7%+H[R@4"@4"@4
M&T/P5/?6>%/C[C7^%(T8[3P6MCK:T<10*!0*!0*!0*!0*!0*!0?FJDDNDH@N
MFFLBLGFDLBKABHDJDIC?!1-1/.U\,T\\+WQSPRM?'+&]\<K7M>]J"F`8^!BH
MAC'XP$$1P",2N@-"`1K(.('H7SR4NBQ&CT6[-HE=3/-2Z:"*>%\\\LO)[+*]
M[A5Z#304_*3[0^/V&?JE<Q5ZV,-_M#S[3&S]/^UI7ZV\R@4"@4"@4$T^(U4T
M>)^1%EE,$D4N6M!*JJJYXIIIIIZFB>6:BF>5[8X888VOEGGE>V..-KWO>UK5
MSNF<9VSZJK"MJ$]^/35H/'2;+0;R-F!C'=:QDC%C<^,D<46C,MI04V9^M'<'
M9,U"+MKMDD]`,CKW$(4UDRF$6>X3!,8;<LMO+CDRWK[74*U7%F$+@$?9QN.C
MU'3G!FVS<N7+XD1<J/BYTX6(+NS$BDIXBNX*R*3GWY*02(PZ>%S9)^3=N72I
M%ZT"@4'R4=V_EW=<_P!O=5_JM<_UZV,-_M#S[3&S]/\`M:1>K;S*!0*!0*!0
M?5UX?/Y!?$_R2^=?JAB%<[IG&=L^J7U$*!0*!0*!0*!0*!00'\4PWE&O#E[5
MD>#;%YE'^<]G&[,\E;M\75Q4<=OO1KKV36NCY_S'F_.V25\W[+V7F\_)[&Y8
MBLQ&<Q'&7.O^[)%?@^C_`*3'/\"5Z?$U>?V;_"?]G]G_`*/NR17X/H_Z3'/\
M"4^)J\_L?A/^S^S_`-'W9(K\'T?])CG^!*?$U>?V/PG_`&?V?^C[LD5^#Z/^
MDQS_``)3XFKS^Q^$_P"S^S_T?=DBOP?1_P!)CG^!*?$U>?V/PG_9_9_Z/NR1
M7X/H_P"DQS_`E/B:O/['X3_L_L_]'W9(K\'T?])CG^!*?$U>?V/PG_9_9_Z3
M*\.SQ(IYT/W;RKK"$Z4B827E-HY$(T^D^R2^4<L:#PZ5OF*1S(7`5B20M19+
M'TU1@@N\\SCE@W3LIGBIA+5JL4IY_9?P_P`.MKO]ZD3%.[3&['O2Z#^H-4?:
MT&F'QV3$=@;*FSU`WLC8I='T-Q)#""%V[,>"!8.7C*&0.--LU!L*@PIPLS!C
M\G#TD_D,O-2J6R'#R].NOLR_0*!0*#'>WOQ3;0^+N:_HT3HL8QMCU<4NCO*!
M0*!0*!0;0_!4]]9X4^/N-?X4C1CM/!:V.MK1Q%`H%`H%`H%`H%`H%`H%`H%`
MH/FXWSUJ!TOV)V?#26I]MS)Q?<^ORWKB%VU3<-YM]R=S6G@U_P"V.U8<8]+1
M]%ODO_U1Z+[%5+S+I;+SN*7I8PPF;]6K.6+<1/=_-$?EPGO?-:RLS"QONA\2
M^#YT1_RY^_G_`%NLY3Y<V.['SV>%O]I]T/B7P?.B/^7/W\_Z5G*?+F=V/GL\
M+?[3[H?$O@^=$?\`+G[^?]*SE/ES.['SV>%O]I]T/B7P?.B/^7/W\_Z5G*?+
MF=V/GL\+?[3[H?$O@^=$?\N?OY_TK.4^7,[L?/9X6_VGW0^)?!\Z(_Y<_?S_
M`*5G*?+F=V/GL\+?[3[H?$O@^=$?\N?OY_TK.4^7,[L?/9X6_P!K;!X>4:V]
M)^:^1=A;'DN$4B8'FC33376G801S7&O6#G4D=%MIQMZ3Y-&CN624@*5R>!8"
M)28P.!KOU%7ZVQI2,CDNCO@Z+5*SMF_?HR]=E\-D%K>3\%OP6M^"UK?ZJ,E`
MH%`H/DH[M_+NZY_M[JO]5KG^O6QAO]H>?:8V?I_VM(O5MYE`H%`H%`H/JZ\/
MG\@OB?Y)?.OU0Q"N=TSC.V?5+ZB%`H%`H%`H%`H%`H-=?BZ>]?\`?'R5=S?H
M84HU8\=GZK/K#D-T=Q0*!0*!0*#;9X$GON'$'QI%/J_F-&.T\%K8ZQE'$4"@
M4"@QWM[\4VT/B[FOZ-$Z+&,;8]7%+H[R@4"@4"@4&T/P5/?6>%/C[C7^%(T8
M[3P6MCK:T<10*!0*!0*!0*!0*!0*!0*!0*#Y$^V?R\NSOC2UC^JCSI7K8PW^
MT//M,;/T_P"UI'.MO,H%`H%`H%!]9W"?Y$/&_P`E7GGZHXA7.Z9QG;/JE51"
M@4"@4'QM^(7NK3<4[^Z[$RC;6LXV43GFL+YC3\\BP<AA9'F30[%:^;,B5;N,
M;)/6;MHI>Z=O8.FKAOEY%4%,,?2Q,1%\QCR8MV;4]V8LS,=W1$S_`,K2(GNC
M^>/S\Z8^E&#_`+\K=8SCC#'<M_+:_3/(]T?SQ^?G3'THP?\`?E*QG'&#N6_E
MM?IGD>Z/YX_/SICZ48/^_*5C..,'<M_+:_3/(]T?SQ^?G3'THP?]^4K&<<8.
MY;^6U^F>1[H_GC\_.F/I1@_[\I6,XXP=RW\MK],\CW1_/'Y^=,?2C!_WY2L9
MQQ@[EOY;7Z9Y'NC^>/S\Z8^E&#_ORE8SCC!W+?RVOTSR?8YX>2R+G@7B)PW5
M27;K\C\Y*HKHJ8*HK)*:@A^::J2N%\L%$\\;VRPSPROCEC>U\;WM>O![VL9V
MSZIAT0H%`H%`H%`H%`H%!KK\73WK_OCY*NYOT,*4:L>.S]5GUAR&Z.XH%`H%
M`H%!ML\"3WW#B#XTBGU?S&C':>"UL=8RCB*!0*!08[V]^*;:'Q=S7]&B=%C&
M-L>KBET=Y0*!0*!0*#:'X*GOK/"GQ]QK_"D:,=IX+6QUM:.(H%`H%`H%`H,<
MR3;FMH=/->ZQE4O%1^=;7O(D];1\KDNS7FKJ)#;&I&-CSM9'$<0,"0WLS#D*
MB\N6N*0=$4F:C-HZ71%)OG+%7(?-8W/!S\M%WCI^/&R*1Q1XX<B#(;V!^(F7
MD=DC!)$V/'+NK"3HX@(<NVJ2S&Y!B\:I.5%6J^.`7$X=-VMD_/JXIY+9*)MT
M_P`.2SE5)NN[S0:H86R6=.+-6SA>S=NFJMDD@KGBG?%/*]@MN"3F*;,AL8V%
M!3+>10V9A!\CC!UJDY1;%PA5O@['D$$GJ#9VFDY;J8*X8.&Z*UL<K6S3QR\M
MJ#^@<XA\E/32+`)*'+R37186#G8-@^0<%(F6.1P1+P[$XSPRNNP6*1D\(-L;
M+88XNF#Y)5'++R*6P"ZJ!042-R$5+`(J2@U':P@VR1(#E7PLH%=J-5\?9)9N
M!1MF.+,%,L?PW;OV+5SA^#V:6/EH*W0?(GVS^7EV=\:6L?U4>=*];&&_VAY]
MIC9^G_:TCG6WF4"@4"@4"@^L[A/\B'C?Y*O//U1Q"N=TSC.V?5*JB%`H,/RO
M>FNXK-PNL;$7THV8;6$Y8:_A`MY+)0$"EGEFB<QFC02FLW@$';VQ=+YR^;NX
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M\:13ZOYC1CM/!:V.L91Q%`H%`H,=[>_%-M#XNYK^C1.BQC&V/5Q2Z.\H%`H%
M`H%!M#\%3WUGA3X^XU_A2-&.T\%K8ZVM'$4"@4"@4"@4$,^G^<F'2,KA46DX
M&1-XHRUWLVPO;$4,1\1*M,[<O,=+2_5&P84Z=DL)"PF$;*:_*$PY82%+#DG*
M+<1(F[N/FRS)4L32)VQOB^J'HSF[NS."'X[.):%(;&/:YF`V#[&UE(U(;&-3
M]$9]5;EV%GOUQ%7)AL_SC^T=>335A@S$!GMP>AV4$E^J7S1U'YD2R.&IFSHN
MSUQ2+MTQ-)UUN7@TY?VQ[HF`[MD$2FDJSB7;6W9G;UWMN\AL)T/*M"[$AL"*
MQJ.2+8;B.!Q$?V#)VSE2."V@V3CQ3J_H01RR:^@(DK%*13PQHTUC5]E:X1T+
MO#G-DDRE\3E+>/M..N;XHYB>6QP\H8.^@-9G=ZX;&3CK%[-R(@$N?BLAU6(8
MF&V02.$1H(2,>N&#>+LD&PF8G]4WZKJ>^M^.ON?NA]9;XCVXDQV,C9=!:0F\
M5ZI"QYW'(D2AVQFAPMM+4QX:9RG?GY6ZBLAV'MW4[`B%S2>-(B:A2V19$9"1
MZ=A,Q,:XF*;,*>42PCK#EKL.(L=4.G2NQDYA&8IX?&,@-F-Y+2QACL2$`YG&
M^R9._&E=EO&\A0D@!S$19+%=HME,DAZ.(IK?)IZ5B69BLTI2MJEVB?#H_A<>
MM.9.CR>?.N>UQF_&RC&=#UNHF*O38>T6E:X'F?<^OC$RA;#6$C@[][&)MMJ1
M:NE39Y(/1]AFG8)8_+8C%"@3)Y+23,7TIII=G,3?HK2L91HF61.?=1=/Q\QI
M\+O*(3>8!!.M-0XL)FGOG!(MJG9^O-@[.,;(<3Y1K,7)^>,=HQ,W!&Z;T(I.
M49TB(<P39X^-Q]#`XZ$S&C.=&BD1=YXTXLH<70OHN)278K[=L3/1`1)]?:;7
M&A7VQQ.Q`PW9H-]M`=M3,85QELCE!90TR7U^0O-9,DT+35DDS)%F,9*(+PF-
MDFGG.K+JZYH4[9_+R[.^-+6/ZJ/.E>MC#?[0\NTQL_3_`+6D<ZV\R@4"@4"@
M4'UG<)_D0\;_`"5>>?JCB%<[IG&=L^J55$6+*-F0&%G(C%Y/*PXJ43XGZHA4
M84<^D264/,,T;/,@@!GBX+OV(A)=-X?*H,\A4=&^S*'7HX:DJZP#&UAO0<SG
M?I1(]'].:KC$H\Z."15,=.-E[5'!B?E;K2N0R(.I$M:PZ2(MU,'T2C`*63E\
M&>,GJ&SM?&L7X%`MVV?*/OY;<68(]#XE$LCF<5C$>C6<G/$)5),P`8<(SD$G
M+YXJ%9$;S'MF^14X2SPPR?%G]UW[J^&'GU\_88^0BXZ#ET?9*_OQ/3']G-!_
M4%K:CK['P;Y:'J/4H%`H%`H%!V%O#'][<\/WY$_+'U'0:CAM^.U]5KUE.*C)
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M52;KJ8)98)*7QYW3.,[9]5]");O:<S9&P>!B-5ZH`FW"!8]LS_KS8VR&K!=9
MOFG"(1%3R`V!1PEE9)V.FT\D9&4*HHN6*^G!Z3MA(L1=OZZ]U]0O4&N=?G99
M*HO&6[:73H@L0E\R)O2<DF<@OF\<O6@PC+I(]+2-:.`U':[>+12Q/&,Q$=EB
M)C`D0,22:8$9)H%`H.71]DK^_$],?V<T']06MJ.OL?!OEH>H]2@4"@4"@4'8
M6\,?WMSP_?D3\L?4=!J.&WX[7U6O64XJ,E`H%`H%`H%`H%`H-=?BZ>]?]\?)
M5W-^AA2C5CQV?JL^L.0W1W%`H%`H%`H-MG@2>^X<0?&D4^K^8T8[3P6MCK&4
M<10*!0*#'>WOQ3;0^+N:_HT3HL8QMCU<4NCO*!0*!0*!0;0_!4]]9X4^/N-?
MX4C1CM/!:V.MK1Q%`H%`H%`H%`H%`H%`H%`H%`H.;?XYG:N^]!^+/V9`]<'0
M8^.W/:1-W;D(T**N/3R/+6BDW.?I3Q+-;S>6#1"V"7E]CA[&][?ARO>^HM3%
MT4>]GL;%NS9M6HF9OC&8_P"4M4/W4#KC_>N*_,<!^SU>_.KSYM?A^RRG]4GW
M4#KC_>N*_,<!^ST[\ZO/F?A^RRG]4GW4#KC_`'KBOS'`?L]._.KSYGX?LLI_
M5)]U`ZX_WKBOS'`?L]._.KSYGX?LLI_5)]U`ZX_WKBOS'`?L]._.KSYGX?LL
MI_5)]U`ZX_WKBOS'`?L]._.KSYGX?LLI_5)]U`ZX_P!ZXK\QP'[/3OSJ\^9^
M'[+*?U2Z:7ANZ+@83DWCS;)1$K.MI%>4M$*MI_/R.4F.Q02<U+$5G$4UXBND
MB$UM$L&UVP]P$@8B.H2!,>T)R[.12*[LTZP\+4WSHBLW1M\][8Y1DH%`H%!R
MZ/LE?WXGIC^SF@_J"UM1U]CX-\M#U'J4"@4"@4"@["WAC^]N>'[\B?ECZCH-
M1PV_':^JUZRG%1DH%`H%`H%`H%`H%!KK\73WK_OCY*NYOT,*4:L>.S]5GUAR
M&Z.XH%`H%`H%!ML\"3WW#B#XTBGU?S&C':>"UL=8RCB*!0*!08[V]^*;:'Q=
MS7]&B=%C&-L>KBET=Y0*!0*!0*#:'X*GOK/"GQ]QK_"D:,=IX+6QUM:.(H%`
MH%`H%`H%`H%`H%`H%`H%!ROOLC/WYCLO_CZ#_5=TG1V=E_3L[_\`*6DBCT*!
M0*!0*!0=C_P_OR#>)?DC<W?4W#*."<9VSZI<T0H%`H%!RZ/LE?WXGIC^SF@_
MJ"UM1U]CX-\M#U'J4"@4"@4"@["WAC^]N>'[\B?ECZCH-1PV_':^JUZRG%1D
MH%`H,';PZ"U_SZUU\_V`H528[$V="M6L'8MA=^B#)3LVSC(B22G+%3#U'"FD
MD+1\&:E#K_JT01D8)!ZHE<BA?(L17A,\+U_GM@0R./'0@G*HNTD:`9T>2C3^
M2@A1IR-:L3!')Y@S)D&BB3')H`-KY$G%DAZ#<05=+N4VPUZJ@10XEMZ`RIO"
MFV,NAC.5SB*@)8)A:$YB)TXX8'P"LC;YBO4)@@VDC"PUH2=MCL>5)!"@\8]+
M"WSH8EDZL6D\$:V_=4%2V8;UX?U_L``R#=2)<@Y3M7.&/XRKMI_I\!N\'DHR
M92S.6H18W#)(.01.X1MQZK.8/D9"T#A6:AZX[LTKJKNK,>R2&>\M*)@[R=3<
M&K<(UB^]5Y2'/8$3Q!XD_5C`WZNN6N7LPL^]3%19?T2[CTCU828/_-^B/&ZJ
M@I.4L2[`ZQAT$>CX]9D-.S24[ID6B=?19AL'7^"TLG48TX<W61&/R.4@490<
M@O'(R6",!$SN')8RA[$6QE$*&EXL[B*3Y5TX5I[LEI[RURR83(O,)C!8,%AL
MV-0AZ9D.Q8)@-R(`0;$^1L_>-I`LWCI%HP<N7#Z-R!4=(QK%BH3(#6PYPU<*
MDIUOHB7XN=[7\+[O>]KVO:_*FY;VO;\-KVO"RGDO:_\`KM>C5CQV?JL^L.0Y
M1W%`H%`H%`H-MG@2>^X<0?&D4^K^8T8[3P6MCK&4<10*!0*#'>WOQ3;0^+N:
M_HT3HL8QMCU<4NCO*!0*!0*!0;0_!4]]9X4^/N-?X4C1CM/!:V.MK1Q%`H%`
MH%`H%`H%`H%`H%`H%`H.5]]D9^_,=E_\?0?ZKNDZ.SLOZ=G?_E+211Z%`H%`
MH%`H.Q_X?WY!O$OR1N;OJ;AE'!.,[9]4N:(4"@4"@Y='V2O[\3TQ_9S0?U!:
MVHZ^Q\&^6AZCU*!0*!0*!0=A;PQ_>W/#]^1/RQ]1T&HX;?CM?5:]93BHR4"@
M4$/^AN1P_3.&SQ&RI8_4B,PTJ4U)"08!Q.8J[@KR5*D7<WE98E%=C@VD^]L!
M!EKA^R`E0HU"/N-;CEF)!1P7?KIEB:<:]9:;]:U1G)>QKS+7^S)-O5L4V:`U
M2QUGLN41Z"'8L"W?@QUQ-8J@^GFO%=HGXK?$?/)?;9\8)L,$9_$U$)#`!\_7
MA,W+#V@K=,4TUC5[X:[[LF.=:\&[#@$NY>,.]\QB0QWF9/3^`P+AILB`(2.V
MM^4-K\MG$UB(_;:PU"TG;[0<3L80/`9;(XL]9^U1,\6B^+-HT+7&['7KK[4]
MJLLZ^XX%0N:=4[(?%->G]B]`[3DNRH-/5=,@[RW3.$@TAKS2N,=0+R"02E29
M,6S+7R!QWCCA$Q9C,Z9#/@?J]QEEF)M71&B(I2N-\SJS^[`&L_#[V_K>>.]@
MI="ZXD+Z3M3D>V#&I)S\?.PR1PV::2Y0U%,Q[$,7WT^6&FU'')$-.1EX^?&H
MJ*&2J710O")`,]KBL?$VHI2E-==-9G+7Y0SBAR#)$=PC-I_;5"9-1_:)WKC*
M._:V?6<+M#'&AGCY/7-CEMD>:2<M1AI>=9S3U(HDY?I)`L8>V;^S)Y"MTQG9
MI_=%KVHMESQ?L)AMF3[:BFYH.F]F.P]U%)%$)MI)],X24U7O2%:#BLG@Q`,G
MML#F_EPE[SS%"H6>*N<`J@PY+8P4UX]9F+/6XK=2F6F^L3-]::YNV7W/2\6Y
M.R7A==YI6ROE9/E'<:=LKXIXWRMA"B>/LKXI8)I8WOY/+?%)--.U_P`&&&./
MDQL+'CL_59]8<A^CN*!0*!0*!0;;/`D]]PX@^-(I]7\QHQVG@M;'6,HXB@4"
M@4&.]O?BFVA\7<U_1HG18QC;'JXI='>4"@4"@4"@VA^"I[ZSPI\?<:_PI&C'
M:>"UL=;6CB*!0*!0*!0*!0*!0*!0*!0*!0<K[[(S]^8[+_X^@_U7=)T=G9?T
M[.__`"EI(H]"@4"@4"@4'8_\/[\@WB7Y(W-WU-PRC@G&=L^J7-$*!0*!0<NC
M[)7]^)Z8_LYH/Z@M;4=?8^#?+0]1ZE`H%`H%`H.PMX8_O;GA^_(GY8^HZ#4<
M-OQVOJM>LIQ49*!0*!0*!0*!0*!0:Z_%T]Z_[X^2KN;]#"E&K'CL_59]8<AN
MCN*!0*!0*!0;;/`D]]PX@^-(I]7\QHQVG@M;'6,HXB@4"@4&.]O?BFVA\7<U
M_1HG18QC;'JXI='>4"@4"@4"@VA^"I[ZSPI\?<:_PI&C':>"UL=;6CB*!0*!
M0*!0*!0>,LL<<;Y97MCCC:^6665[6QQQM;RWO>]_P6M:WX;WO^"UOPWH,$::
MZ1U1O+6;K;<0.W'0QC+YC"2#N7II1=T,,PV8D(8O8HT)KIYC$#SEHR-Q>[_)
MNN9C<AC99)##`PV3N68F+I70WV]"EC<A8*FX^U`1^):ZEV4V6FD$SCKYKLPG
M*!L?;)(-I.O(AUEO:\R=#S)X$)C,J3DHQK"3<E(C90R`$I[^2Q]M](Q;5*NA
MDF\5F&S[]';#^UIK5?63G7[X>[.JZLV!N)B_?%9=/(:*QCY6%ZSD[@<7&O2B
M2[S$<CG@D@01=6+$5KJBOG$>LO>TUTIJ/>,.A4NB<E:C%9Y8^D&ATJ>"0LZQ
M)Q,[+(Q*A"L=L3=J/70`_`YH.=/`3@P$>XQDL3#%B@9O8EF)B8F8R7"MNG7Z
MKR(H1^2Q:6LY3+2T1=%@$[@"C&-N@NO3^Q7SHDF_E+!^6\P)#CTG(:(LI')V
M+>2"Y,0!M(2RD,F"DIS\Z=<V.M3]30_<HG7LFAP(BK#MJR1\(@$H=RS5J"$C
M!L("8G2TK9`+3_.8+MTL@^4=>QAM'7$Y%/7B!TI&6D+:&9,++3RQ].M&MGN-
MS"(S)N]>0^4QR5M!SWU80=1LV,.MV!'T-F1]7O5Q;ITDU>^KR#!]Z(OE@OZ&
M^9N?-^8<HYYD<N'[(S]^8[+_`./H/]5W2='9V7].SO\`\I:2*/0H%`H%`H%!
MV/\`P_OR#>)?DC<W?4W#*."<9VSZI<T0H%`H%!RZ/LE?WXGIC^SF@_J"UM1U
M]CX-\M#U'J4"@4"@4"@["WAC^]N>'[\B?ECZCH-1PV_':^JUZRG%1DH%`H%`
MH%`H%`H%!KK\73WK_OCY*NYOT,*4:L>.S]5GUAR&Z.XH%`H%`H%!ML\"3WW#
MB#XTBGU?S&C':>"UL=8RCB*!0*!08[V]^*;:'Q=S7]&B=%C&-L>KBET=Y0*!
M0*!0*#:'X*GOK/"GQ]QK_"D:,=IX+6QUM:.(H%`H%`H%`H%!C'<<,.[%UQ(X
M&"+,PMY>BSC\@?.O66"N4()D&K:>C!+L0Z9$1$@.PW,V"C\C:N/.Q8R2927!
MJ2S$XC'H0Y><+YLCW20V,RM3'3_0KS1,Z=P<S+MK9S.,[LU&9`(G-I1?;C6:
M7F46.R>$0C6`J-/!:R[N`3/5D9FS7(ZW?$8O@:[V&<5C1A.JE,9G;5Z:_&NY
M,"V!]'=41.2-74G$.LC4BEVM47CZ1N>3-J[?V/(9,HUCQ.-M(N6V&GN!VU"D
M8;8*7U\6B[,V")>DF,/:Z*QE.,Z<XB,M6_U_K'A@P[TYP-J"42J#S$7QOL(%
M+9/<Q$"68G:8:-:/V[HP8&1#/SACU&[4$[43E#I\2?2%O8O&DQZ;&[4M=X+'
M>OM4N[VO"^)RC*FA0.CO#Z.;I/HBX3L.#::U$RB$*AH")0?5_J"1Q`6$A/0>
MNCB$>.162QP2LW2CV]U"FOF9P`4'Z]/1YU:.L6;67R91\2)W]1/M?FS`UYRV
MJ3?<Y2V;R?33J>Z;WBON"9D-=:Q*ZZ";&NCS%M?F<>V59.)5,2;,]<5LQL=]
M=/RI5F)"1('KX8'R9(XR3!EJ_@K%](G"D5FM+ZY1[9L=/N%Y,:YYY-T*2V4Q
M'>YXQFC*0S*-C"(XO(F,LY:Z`YCP>Q'!5\XRBAL<UWMG.FSIXY-)HD(F@#PM
ME@7N:$E[U\SGSB=^&I+/0^OYU`(ABSV:5U?()TX1",S<CU7K9UK01($XS'QL
M9%E2PHC*9D2=&5QHMOAY%#>0\(*2%QD4VR:AKDR9F>JS7DYEOV1G[\QV7_Q]
M!_JNZ3H[.R_IV=_^4M)%'H4"@4"@4"@['_A_?D&\2_)&YN^IN&4<$XSMGU2Y
MHA0*!0*#ET?9*_OQ/3']G-!_4%K:CK['P;Y:'J/4H%`H%`H%!V%O#'][<\/W
MY$_+'U'0:CAM^.U]5KUE.*C)0*!0*!0*!0*!0*#77XNGO7_?'R5=S?H84HU8
M\=GZK/K#D-T=Q0*!0*!0*#;9X$GON'$'QI%/J_F-&.T\%K8ZQE'$4"@4"@QW
MM[\4VT/B[FOZ-$Z+&,;8]7%+H[R@4"@4"@4&T/P5/?6>%/C[C7^%(T8[3P6M
MCK:T<10*!0*!0*!0*!0*!0*!0*!0*#E??9&?OS'9?_'T'^J[I.CL[+^G9W_Y
M2TD4>A0*!0*!0*#L?^']^0;Q+\D;F[ZFX91P3C.V?5+FB%`H%`H.71]DK^_$
M],?V<T']06MJ.OL?!OEH>H]2@4"@4"@4'86\,?WMSP_?D3\L?4=!J.&WX[7U
M6O64XJ,E`H%`H%`H%`H%`H-=?BZ>]?\`?'R5=S?H84HU8\=GZK/K#D-T=Q0*
M!0*!0*#;9X$GON'$'QI%/J_F-&.T\%K8ZQE'$4"@4"@QWM[\4VT/B[FOZ-$Z
M+&,;8]7%+H[R@4"@4"@4&T/P5/?6>%/C[C7^%(T8[3P6MCK:T<10*!0*!0*!
M0*!0*!0*!0*!0*#E??9&?OS'9?\`Q]!_JNZ3H[.R_IV=_P#E+211Z%`H%`H%
M`H.Q_P"']^0;Q+\D;F[ZFX91P3C.V?5+FB%`H%`H.71]DK^_$],?V<T']06M
MJ.OL?!OEH>H]2@4"@4"@4'86\,?WMSP_?D3\L?4=!J.&WX[7U6O64XJ,E`H%
M`H%`H%`H%`H-=?BZ>]?]\?)5W-^AA2C5CQV?JL^L.0W1W%`H%`H%`H-MG@2>
M^X<0?&D4^K^8T8[3P6MCK&4<10*!0*#'>WOQ3;0^+N:_HT3HL8QMCU<4NCO*
M!0*!0*!0;0_!4]]9X4^/N-?X4C1CM/!:V.MK1Q%`H%`H%`H%`H%`H%`H%`H%
M`H.5]]D9^_,=E_\`'T'^J[I.CL[+^G9W_P"4M)%'H4"@4"@4"@['_A_?D&\2
M_)&YN^IN&4<$XSMGU2YHA0*!0*#ET?9*_OQ/3']G-!_4%K:CK['P;Y:'J/4H
M%`H%`H%!V%O#'][<\/WY$_+'U'0:CAM^.U]5KUE.*C)0*!0*!0*!0*!0*#77
MXNGO7_?'R5=S?H84HU8\=GZK/K#D-T=Q0*!0*!0*#;9X$GON'$'QI%/J_F-&
M.T\%K8ZQE'$4"@4"@QWM[\4VT/B[FOZ-$Z+&,;8]7%+H[R@4"@4"@4&T/P5/
M?6>%/C[C7^%(T8[3P6MCK:T<10*!0*!0*!0*!0*!0*!0*!0*#E??9&?OS'9?
M_'T'^J[I.CL[+^G9W_Y2TD4>A0*!0*!0*#L?^']^0;Q+\D;F[ZFX91P3C.V?
M5+FB%`H%`H.71]DK^_$],?V<T']06MJ.OL?!OEH>H]2@4"@4"@4'86\,?WMS
MP_?D3\L?4=!J.&WX[7U6O64XJ,E`H%`H%`H%!:<U%2PS'G8^$RQK"9"JJUR:
M2)Y&V\L0:)).$U'2601R1%(N;NFV*C;%3)ZG=MDI9?'%3+"V&080^UMT[\)Z
M.?W?PG\>T6[*>,<C[6W3OPGHY_=_"?Q[0NRGC')B#H#DG=?26D=JZ!V%U$T1
M@VX8)(]>2Q6/:,CPXXF!E`U<62S$OW$R?H,W^+9QG=LX69.DTE?8Y9(*6M?&
MY8F(F)I-TUQRW/GX^\^>7OA=[[^:6O/V6CU^//RQQD^\^>7OA=[[^:6O/V6A
M\>?ECC)]Y\\O?"[WW\TM>?LM#X\_+'&3[SYY>^%WOOYI:\_9:'QY^6.,GWGS
MR]\+O??S2UY^RT/CS\L<9/O/GE[X7>^_FEKS]EH?'GY8XR?>?/+WPN]]_-+7
MG[+0^//RQQEGWES[&(T_R)O_`%ETAJKK7;;C8.ISB\@BZ,J@,%+1Y1^X$D0R
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MQ7S]FBD^;9Y7]C>RMO)^$D]M-J)B;,4G6W[_`&MNG?A/1S^[^$_CVCRNRGC'
M(^UMT[\)Z.?W?PG\>T+LIXQR>PSUUTHB[:JO.E8\\:).$%'33#0P5KDZ;X*X
MY+ML7.,Z5R;Y+I6R2LOBFI=*^5E+89WQ]C<793Q^R2=$*!0*!0*!0*!0*!01
MV-:3V44,%B;'K_HF-LB)-^_9QT+&>3%PX%J[=*N&X42O(N73T@6&"TE,&+!4
MZ=-&%&J"69,L1>W7>+%KJCSYJ9]H3:GPV.G/FIQG_210K&4>?,^T)M3X;'3G
MS4XS_I(H5C*//FU*=,?8X/%?7N[IOT3OS<W6TPVUL3*.Y2V1M)GI&,-R.45B
M8*$A+I@XQS\(!,?1(W&P['+T$<WLYS;9.W/G7;APNH>EGM;5F(B(LTC;MS8)
M^]+?#*_.!U_]*.L/Y(47X]O*SPGF?>EOAE?G`Z_^E'6'\D*'Q[>5GA/,^]+?
M#*_.!U_]*.L/Y(4/CV\K/">9]Z6^&5^<#K_Z4=8?R0H?'MY6>$\S[TM\,K\X
M'7_THZP_DA0^/;RL\)YGWI;X97YP.O\`Z4=8?R0H?'MY6>$\S[TM\,K\X'7_
M`-*.L/Y(4/CV\K/">;=?KKD:6:IU]!-70;LGJ`3"M;0V,0&'BE0/(!)49%H<
M$8QV/CU")+D]T1?J,Q(YHVS>OW3EZZR3NNZ<++J**9'E75'GS7E]H3:GPV.G
M/FIQG_210K&4>?,^T)M3X;'3GS4XS_I(H5C*//F?:$VI\-CISYJ<9_TD4*QE
M'GS/M";4^&QTY\U.,_Z2*%8RCSYGVA-J?#8Z<^:G&?\`210K&4>?-J@ZB^QS
M^-.R=U2GH3H3=/6TSVO,VL=9R*1,YAH^*MWK>*QT9%0F&`2*\^AP;2[0&''M
M,LF@]')SDC=RYNJY555S-V>UM68I$6:;^:/OWI;X97YP.O\`Z4=8?R0HU\>W
ME9X3S/O2WPROS@=?_2CK#^2%#X]O*SPGF?>EOAE?G`Z_^E'6'\D*'Q[>5GA/
M,^]+?#*_.!U_]*.L/Y(4/CV\K/">9]Z6^&5^<#K_`.E'6'\D*'Q[>5GA/,^]
M+?#*_.!U_P#2CK#^2%#X]O*SPGF?>EOAE?G`Z_\`I1UA_)"A\>WE9X3S;I-5
M\<R/2VL-<Z=UUV+U`$U_JB"Q+6T&#+!.0RRPF'P<`PC,:&JE"W*+TH248AAC
M)MF_)/'3]YDE=P[<KN%%%,CSFU69F8BLS73IWK]^T)M3X;'3GS4XS_I(HE8R
MCSYGVA-J?#8Z<^:G&?\`210K&4>?,^T)M3X;'3GS4XS_`*2*%8RCSYI.40H%
M`H%`H%`H%`H%!"WHOK$[S-(!)R>ZH3<Z`<XSQL:V>'G=G4Z"/-?Z)V%O\R;Q
MU/>(6'O]?I1G6<DCSF1Y;-8R9I*TT$\H&M&EL)+<L173?EOB,=^S6MHYVXZB
M8>>HRC56(^?Z]#\GS`S#64ZL08Y03K6?D-8Q(VC)5(@PRN6CDQBNP!QL%B"S
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ME+F*.<XS'^LE5`+E9X7NWTRM=V=4]1/!D2<]J@H/,CT?<0U9X$@QCD<%L(S[
M8+-3`9[V/LG/5>NW<>C5P2^,F!@I,Z#+2DJN<`>P%K'[@VIHO&G`9X2EW&FZ
M*_;#%-VB%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%!Z)-9\V&D'`QC@3)-V+M8
M>-4=X#TR#Y)!11HQS?J)+X,L':^*;?)WF@M@VQ4NMDDI;"^%PUZ@NJMZ9[I4
MYLD\)UFUV.2V)*`D:V$`>RPCK-U#XKH\!MLVH[#D<1<ASF,?/3*$P(L/:E_5
M2P^2X3IL[3=CGNO[&J12M=VG&8NX5]M*ZM(=JL]R$-4%EHL/A>OME<;#>K71
M<I(%7IB*KKFX^+.1`LC@*9C+LXQB5>67/-7CFQ59EFJBR8ML<+NB3&.FDTVX
M\F:>>=SFMU,=JOC<0O"E(%N.3ZW'"%W:KHJJ'"@XJ9'$I!AF@@F-D#U&1>S+
M!6UG#<(YQN*P(%,FF9)V)BE-?.8]DA:(4"@4"@4"@4"@4'YK9YIHJJ)HYN%$
MT\\\$$\D\%%\\<;Y8HX9+9IHXYJ96MACDJHFG;+*U\\\,;7RL&NW+JW>$;W6
M.Y^GL!URWE>P=H:S@FMI[#BDH/P(8XF6G^A][3F)3)H4;`"C^=:KUYSJ](NL
M19`,RE;;;.J2]V,3;$G[-(U2*5B=T[8BN^NO"=K]8?W*6E%]7.L-8>E,Y;HO
MLO8DH&@"[PM)VVQN--I:ZU++H#$!>0=L@<&R:32D_:-FW+MJ0=X#1*:@1MF^
M6R3E;^/E-$IKTQYWU7URKULUZ(DLGB5LX86=A='\W;];R/7AG(U%_:_T>CM)
MN.ACIQFY>*VE,-,:@DGK%VHHQQ,@3<6+X`PB[EV/1JS%.,Q33=2_?5->C)0*
M!0*!0*!0*!0*!0*!0*!0*")FV.9#.Y)E*74OV\75U--("7U?(M/HPF&*LW,#
ME0583.@3*9OV3V2A[SJZV.4D(BLVA!RQ9"AK=PVQ%,7*):TC"_&M?;!:1[BD
M5)8W.6AK8IDC-9\,YIC!B>N`0ZSSVE\JS-:?ZU`8AVSMLPR<OI:7F!R5EK*)
M^L'TV/8B6`-@B#8"!75GYQ3KJ5[../=39[\A71+/*7C)M#U-C/5![.>SO*)F
MS.RL(_B:*.8L[D[D"P\WF!LMB-&#FPM\L\NL3:/%V(Y5L*W4]DJJ(4"@4"@4
M"@4"@4"@CWLO3T^G>QH3,P>["\&`0U&WFX4R@D)D;5V3=+ND#4A;EY0P).14
MA(1MVM%6)1LU45!"G9C`;;"Q\VF^+$Q28ICIJP/;P_X$EJZ0:H:R\VW`X<FS
M#BC5[CU:Q4=ZLT--4\&A06PM=?%.0R1$0*A01H;*629V8:[B6:X9=]E)7DB>
MQ6^NN)VS'4X4QV,Q33ER!;,EFHY5L-C'C[C3SB'FPV3>'!61@W*($2Q/PYR=
ME;OUM)/:O$Y>W'SR.0T,0$,4)L+8&33T^@V2'X")F*TTW<<>235$*!0*!0*!
M0*!0*!0*!0*!0*!0*!0*!0*#U"#99ZP>LV[]V*7=M'+9`H/Q8YOQJRZ.:2;]
ME@39D1N;MGGGBX;8D![]CDLGA9VS=(740S"(T6XY%1W&+O"&]-[3.50,N7+P
M&<REUJ#&30]22QV31V8-V6$7T]&8X<QFN$J>&Y:0F<?DYTY*!X*1.B]R8=FO
M@WUZU+7'17;MS5T%QQH^/NHFW;`,B4'AG/0[F(3JB2-8_*=;N-4BB`8BS'FQ
M$A`DBQ\C94`,P</"YQVB\314S>,UW*ZSC,5G?,UKIKU*\='<UZ6YQPV"AIJ!
M1F!M-ES=S/9*PC,=CL=8W++C!PE%DR:1T0(11"CVP[V8P>OBY]!7?$E$5K6>
M*86$S,TK-:8,[40H%`H%`H%`H%`H/YSQOGAGACGDEEECECBKA;"^:=\K7M;/
M"RN"B=\L+W]EC91//"][6]GAECY<;A#Z/<=BQ>05W)-Y[TV.:A\_:[/UY(9H
MXT^B6U[.;B9?&Y#(`=H5IV'#3C^:1&=RB'R9Q/QTS6RCA5RS"*!%UUW2I:ZH
MUXWZ<\X7;#>5M=0"2:>DT4)RT8YTKK_;&O8XQ]-!NF!QMNV30F:[)DLMR=QY
M<D3ELBF$!"25P28D13.Q18MGZMNW)KMZ%<=?M_+(FN=01/69":GA.1$M+=C&
MFQR;S`\HQ6.GEQK3U<#'WP%#Q`00!CX_SB`>/QX.(#H/'IJ0+LW,HDLF-F25
M92H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H
M%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H%`H
M%`H%`H%`H%!`6;1OJ,%T/+IEK46?D^OY'C%6CE&3RP$S;Q-D@7T2)F2VIA><
M^R`EVQ6`-]E%@<=V3K@6_C&WH](3S&<NHALG*,E2W4ZUZLZ:<*9+>9E?$*=$
MT`A>.LAC!P4C39U,0/VH%T6,>)E^3V1PDW&F)2Y>VDP``^ZS,OVB@8F#Q,B(
MDT!^VEC<*U-EN]??5&I=H(]V>1?QK*21,]&F"X`R1EJ(@5HJ0J-)>RCB0TE&
M0;MUM\9EA$"4AS]L^EI(\8DS[FV#H#N@-&F*#1X2)--'\Y:,L<-2^)9"MBG-
M[F2$D&;#D>GRVF]=`X/C`]@M88OK_9XR9[*?;3/R1@UG,-=/'DLC1?4C6.EQ
M:4L39,X;-`=VX)F?=-IN+J:ZW[+J>]=VZ&VJ=.=HQT.HM/$MH%70[9//4R$!
M66Z&3]-Q!(?MR>.-BQHG8YM@K=?89.,R=$E+;-Y"TU;.-9`=;QUH*8[``R<:
M8+6-6$UNTTNT1IU5B^^B0^YX;T:C!M1D-/"9:\FT<W)OO8A8,K/0R%FX*3Z=
MZCSU5')EZ\G+('*P0G:4PTHR]J*9.01T*[#C7S5!(%%DB+$D4TZM&N/;3S6M
M9]X@*!DEA<22S&OW3(&Q)XL-$&\`0YI/^J,TIC:-9["A.9=\^BV/*B<D&9R<
M;@I&'<Q4!-!\W:.TD2_EZKJNTZWL+F/$`%/,2:47<R=DI'RCQ>.)J:,8*MSN
M<9ZAP8B63U:4#[WR1D<>Y;69NG1%PQSM.Y1B37S9,3*42)=??LQU:MJD"G??
MZA!,T8A3ET]2ES;#`<[-ZA:"AFOTH6/$'70)L$F-L7D\,&QYXV$;RO,O&$3Y
MV/8.[@HTD5;!"_EST:[YKZ4Q\JJTD=\0)C(#-W\.3-QO(H]#@L0;C331]:,K
M376S8!+7WKB6-/-S%O`G$[(S`9AY^,X2%D4;QD:^:WB*;T?EIUC2?*M-=[\4
M(QU4:U$Y(R6*3=ALTOT_RWLDA%@&R(RS6'P`'AS>1WN&#O\`'9F01K#,G<>W
M&)5@UY,HW/M7+MJV%$QYU!=Z+MU)]Z>ROS0EV<ZF,D):Y@1B,QDD?&OV30P6
MT^5(JCF`B`#U&CA%[/3#%@B^6:3%1PF*S:K^PSPRQ<V>9M'N9+LZ\=>K9U>L
M-%UX@8\JB:]II1RECA9`X-8E=*KK2'+`=K,0L?28$YPT&('F@,;LDC'1`XI#
MXN_V$0`829NC$U5W@P77[;M47_;7=+,>IV73K[>,?,[<''&\1CFJ]A19V5:O
MX.'A4G/E[\TEHI(<H+')]+##*7.'P?<[8KB_L4$1+-)T"C,B)@2;`]*1=3?S
M^R:U$*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*!0*""?0T9Z;1W$(V#H,:0
ME"8[6Q@1[5Y;+&H+5R,M;Q#=+R(GQ^(V>A#'KI68D8?&]B@93`YC$I?'RT`-
M`S$-D6L7IMN6*4O^^,:N&_-:,P/^(0S=R="'0IL6'9"Y([@S]VMIU(A@NA'.
MH\XV-FK9S,QC6QQW*6O++=?./64CZH=_*'3A\'<YFF@4OY<_75JV_=>^9/LA
M,J.%)!C%A[;8BT?+2941I,TW?0P(8DSJ,SA@/3V7"W^8.=1%*+CMJ,UF`F91
M"?+/5M:10K$'*C@(2[K^)_C3$KJGD;VR=F>@B[T1L&3:R8:\V<.VI#04LC$'
MFN.U#MM7*ZRFDBO'IU%X\2%10,)W`%)"XQ+3#,=,)E$)('$$?:\TDL8%U)SK
M%,J7UUY4U50NST-V2W=]!LF3K;-HL>C>W6>EFWV]<E#21%*=:YDL5SE[XKM<
MM=N3.QN,+`-0G8LM%<XRL:VN+V\DF*D$,,LRUB["M;[HY1AIB_124P=H0[;4
MB@,@<P\-/!I^2=0<RSAO'$YZ,#R`-JF'[1Y^RV\PS(-9U8`P!EH)#=FO"T/"
M2)9"4BSQ`8L(>F)*1%KOM]_).4^DT\V#V!;Q%VZ@X@7BQ)[BD&=($1@E7G^^
M>3TX^Y9N]=-FKN8#&KTE#Q%NHLX>DN=&C")Y(`UDR[\*Z"N<B_EZK_\`7_E=
MZ;OO9I(X\[69>NP21\0VD+%$7ID"U>@V4[YJ9EBC=DI.#)<78Y`Y#TV8Q&)2
MPN]$OX+$F*#UPX<L+38EW6^[TRQX6&P(^(N806,%-?V9'6HR$K16,R`_J-K$
M$)(B;F1"2O9LZ@\U7D#E!`:9A@17`$^>CW0^-%5V@%<LJF\,EI9SSK2M<-%8
MIBN\U(/$`82(N_"0C,Y#F(UTZBX5RYTDTEQK-SK78;SU;,%KS!D#9R,9M-*%
M"!"T;(MXP[C"P9Z9<Y.%)C<>/R\^,7QNKU13#\5Z[F6H>M;%(]-0NR)CIM*+
M:?8A=C1,"]5FP.3;O&A3<:?`=BXA((;(Q9WJHZ<+I$XHS=$7&66&"+H<[',!
M==MO\O>K(&UR?6Q"4E7VG==R&+B5(J%#M7!PSI]^]S)#6NTG;ERV&OM@&A"&
M"Y1W`6Z:[AK=VJAFI=SGZ.DZ08DN^W#33;&K&K&9);Q![$\2XN)7S?#U%;X8
M.#6IFHV4MVS;=#N/A#S1*5NT6`)*1FM6)'W\?9"96M%Q3BS<N0*)OT78BFF>
MKO6]D*,(=9GMI:4<3@++VD(C4O(R20E;.M5Q1%U&3VMNAQ%@.RHM#MHS!0O)
MHM)2>G6#5O%7$AAI+V+6=)9#S%BP:&%NI-]_\871K3THR4"@4"@4"@4"@4"@
M4"@4"@4"@4"@4$-=I;KVU#-V1QO'((>DFGDF<AUW)UV\<=*))[9,PQ;8\+DC
MDF*;GYC[1QJ,='ZX>%(Y#"P/&3[1<J%'RCV#*CL"W4ZPPNCG+'+3K7:[<T*3
M?Z,V/YJ03G5,8<#G,3./$HX)D<I6B\X.8.H='I$`1:QEA@M,EB5MB34":"LD
MR48*.(\_4*CQ37&GTK''R?R5V3U!'=L]"2A)9X<T[KG<43@L6A+R#$"9<_'9
M[J?F+%@5@S"(ZV:R(^(B>T9MM@D=FKS8!8*AB%/PXVR!,`2\PAI;J1GMUSC7
M53+G:,MZXWW(M.J3>#Z>F4*F2P:?*-H65@6P7\ACLA%<[;[V!$L)&/,ZW:BY
MG'I/*8EJW".X1`X!,XR.;`H=(;H&,%XI)Q2*XQ,?>(ZZEG+6.X]EJ;4,:DD8
M*5%F`J3NT!^SY-%CB8:;@T8J&(/_`&KE85K@5#XZO'BY)G;-E,WUL33<BY9A
M)4;(`R^(\E+HO^W76AC$CUMNJ*FS`];0TPE`$7)MALUBS8-+B9S(<PF_9*`,
MB-'QW7S)$F`&1GGO6#EJR'L2DD,B-WP5,>[E!\C&W>P137'5->N>$[OV5Z7W
MI&]ADQ[K6TBG,6D<B@`Z/.@L!GJ0P"W,?:;9$LA]L8.QD&+-^&E.QYT\4F'G
M_:Z\B!`)F74&LKYV%-<1[XZ]5-\;[8U[UET4<*2%5[IJ0V;R,PK*8J(G<$VU
M#&,6CK+G_GV0%M5LST>U#)5GTK`;4F.RFA,S+VK;`T_BTJ#@\VJ0=T+AA9B,
M^%^F=>5&4=H[YVNPC/.LRBL/V`+>EI%MV3[9U^C`'!MXXU_K;G[>IQ`.;>1P
M)LU(/ZWW$'T\,!NX`=.$)BH<:-M>E)N#*7<O24QPU7ZX]N&E8(WMC;)*1.Q:
M.B"EV`63L(K)4TP>Q'$P`CB\DF\<&[0>Q%O%5;I115Q#1ZF(+,Q;)1O.P)ES
M,1T/#FY784UZ-6J['7IHR'I/K"<SZ4BA^R=.G-7QV21Z.N`Q)\%GJCEC+34/
MY].8QH_F1AXMJRS>RG=LA@K%5>S)-J7U%*LWRV2SEVPC8F*::]3R\UGR78O0
MBD=VN63E$]B>S8?O"1!XYJ\?JX07A974;>>MXW`#;4\YUR<-%1LOUVZ#;`D$
MH'2MVD)EKR4PMNF-=1UP%$CE_/+JJG">M]\9$AF+K1!]9$F>BK0YBY'RW!B%
M'*Y:R$2-Q&DD("S>8HK+R25&FF$C*E\FN`)QFL1P98.60L4C/TUZ]7FSIJ3H
M@KMB&S2YB)2S6DS&A2)4`Q+0R9!G1(-CKZ`RI60"6<VB0^RJT>/[`2B*PU^R
M5(NRH!RY(QX4NN_C0<3%$78%USTAC#X,`FFGY@X-E]>1-D:VC[1)=D]#3933
MW-LK/2N6PL+!FK!HB4GV[9?!V<?!CDVH&2:JDWK;!,0PE:4*+,1HF,<]<Z:Z
MO-<^LNN]I!F>MF6WM:;'NU(IOW&SIN0UU-L+Q(0"T>*G1&1+#([K(,R')Y3+
M!W&7<9S2)FFAHBH.P5PS;CF3H3$7TG9%V=*8[]F3(&]MP;SUINMH]AL9F.T-
M:I:S/OK:T@\9]B:RV!%M=;JG35V:+/X`9S/P?8"@B'0EL^A$U&2B!;0'04`^
MA$N&;>\\+)%)U:^'IYQ7)9$^ZXZ#`VD@F.:"+D7[)B>=1R5MX1LB0QDV,$M^
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M;,CNGWSCGU)\OM"7OCD(@SLG%7&3&+2X,F;N;+2@9+%(RU0%`+1TNFU<EG#0
M4=+7!LAZS],Z/]*)]NNKV`D.S-L%D6CX-S5L)%$A`0,XP$&8Q*QAD=D7$:N<
MD(R^(%A@6%I2@,=D>R8RD/,2J-B"9>!87>22.@'3N2-!37J]=],-&GC3<NNM
M_L(_/2[O1))^ZBZYQP'#HP#;H\^;0>[SV/KV$@VH&T<*K.G_`+0(Q"YN:-W>
M,&*]IPSOZM!M<6]G8I%U^/E=$^\\%"5ZTWC$&4[//-5[*GN*:>R#40`V@<CP
M5N@)D&Q"D3B6#&,ZR0().GH&/Q^-,9"<,8X.<#`Q[D,,R;-@,F):1=NKPC7G
M7K#.NW>E-AP?:K#7,.U`?E8TB/U]G>9*QR>X1T2^FFU]=PI\J2+LHNN)R:1Z
M&2R4SE^BW?\`_16T&*)$R`['$A<42EV/5*Y[EOZ(Z!W#N':D`3DFNI?K")O=
M'2D_,8H9A,D;LF6P7(CEF4QE5>;&XN-0LHCCL;;D3%`&9%LNX6A<ER/CKR,"
M1#Q`3$16^M]VR_E'DG=1"@4"@4"@4"@4"@4"@4$3M^[:V=`9MK3*"Q*0R2#1
MZ41-YO3U/&<"[I6$[',NM;!,@2^3GUFX4A)E^OM.:-XD&/G6L:AC(>Z08LY8
MBLL6(B^L[/7[7YZF"YIV!N:*LCQU#G[815^&B,T7:1,9&Y*;'&Y&!>1QV#;"
MG4;AYQ\[2E#(FX&!#!$Y&G+9RD_&2K7D=V$)(0-D*7XQ3.L<^ME%T;=G_28G
M>.P7^N7SK/46L]"ZDVXO'"D.?/F4S(9%^E,]EPV+8@]72&;RF;F`D5U(U2`!
M9:+*PIR3!G$HS*+G\XK(1%*:YK[4]^KX_(-U-M68,G&..HIC"G@79VNH@_:E
M(=/QA0S&B^]-;P,KL<*\+:],1.\(SCI783R41YP6;RL`(AQ`PRD#<&19SH**
M:XP]J]:*\%N:0Z%WXHOK<!LB+2\P9V%`M/2LW*C&OI*,AT4F,M%8OYGK!$1"
M];KFH:69()FUVQ&>&9`(%/X]<9(S,=7-B!^99B-%+IIC?.O^%Y3_`*5W)!-G
MR^,`]+26>QP=L%H,:O46YCV;N/+)<:`,<(BX80UF*LFH^W[M23+NCYPTW15T
MIL!!0\S#L2J>OB4C.(ZGE'&-^/I-U?O@"OA-P^K)3+XP6U2R-L8</UIM!BH,
MDZHG=9EE@['%-=#=@H20C)8UKC6A@&Z1=,&BIQ@<:-!S@KFVN6(B=-)_C=G+
MW&W4V^U]O2<:VU)*DHB_>PF'1P;+=>[0$1N,'0^Q>HP\N)$9?&M7R8T\>[(A
M>OM32$`]68N(9'&DSB">>>+D\R=SDE(NOV\(T5SF>H9,E&Y]O2'3T.-`8I,M
M>[*-](Z%U\[##XA:375@Y#<^N/MO$D'#T-)!:</^TNYV$_\`;D5;QTF%0'*X
MFAL`V0.(PH"Z\^13A29\KM]='LPNAW=MYZJXP'<ZFG#P5'6,M=QD@$VL%F4A
M`OF4+>$G<9C"^N71[%"'(3-P[*7="')F0XP>0@Q$;93)^VC(XM(S]*1CIKJU
M8XLD0[KZ?$INR8S/34AB6N<%SX\U,W<8V"B^8W%'^@1S.2KB+QATW8@G0G2T
M4+K-L"17S*6Z(GFF;69,6KR4$IKW<.<\'N['G&[/;)TX,0E,^UX\@XX&1Y[%
MQ+6@67!-DQM#5X:3ESSHJ8@$NS(R-UL]:;Z]-`!YH9E%04<A9YT';WEC4B?+
M%+M>/'E[[L6..M^C@PT@K?1QF1'Q0%9IDCZJES:-E20=';A/URP;,M>>N\'Y
MMM$X:*<-[%W(Q5](V?JL4,RS;6-BD9^E:78WZYX<)/:AZ,=["G,JADF@<H@]
MV9)1G"R9B)SD6.E>;4]L\608-"1V,C!KAPP$:V3E'K%)R@P)CY0PQ")DA20N
M1R4E.N'-%:)]:=%Q8<BQE.H)ILQ),I-/295[3)&+D6+!WL+K:T:=+1V+0)B.
M6!PN":+UMD1P%L',CE3/;\-(CT7!<D":30M(SC#SI'O,\.%1A75&]@3UJ)F&
MM-B3=4MM`'&TC=];RX.Q;PJ0[^VG#%Y$W&B=:CK"$8SK(3%9FHY/FR/KF,X"
MRZ""290F:L*1G&&>41KTS<S/NO;6R6Y_G*5Z>6DLAUM,R0+.9Q>.1!5"72*/
MS.<ZK8@),->R^!&1;)E$!3^0Y[(@AHGK*7VUU(I1L0#),"FI74?)DBE]>L=>
MG._S8XOU[OM1O&KI\TRE)>6,HZLQO[6-A/["R9QYS0@9`'FK6.IKB2$`ONW9
M#:1+E5!C!^MH:3JI.!"[J0C(&*1GU?RCBN+FO>>\IW(I&&VG&R0\.:BKJ9`)
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M&3S(E'=G3(9'\Q0A\TDC(!DJ%%NY4)('3&2^`H2(1*9DB3=803Q;$I?2MV>S
MBCK&.K]_L0,(CLDT5*S,^:QXY'IT4=Q"8"A!/8FN$MS`I<;;O(M'9)'0T0EA
MW7VN9-&7S1V397C.W1.`Y0FY003S+,1C6-D7Y;)TSP>Z+ZRWLN0FBA#2!0<&
M#!)?*Q#<S!]A,3OJF):AT9*VP7_LNA/P<K/2J?;!V2`'+1`N_$H--;/T@[J7
M)^=.T2FOJL\HQS6_'.J-X*E'DB.ZVV*B&)R)LP:Q):`2).T30^UO`<7V2H]E
MKI65&1N$X>2DE@X?GQ20]?%X-*2)./,LWX$M(SC#C?.ND7:U\;$Z^VA$M=ZC
MEP/GF;2&1["TA(=GR&&I1;8JCJ'2H=J0_-A<#*O64+<>@DG<[$C-=JM'K6QV
M[V0,7%PS53-@@5)3&^+IIMOI7W?O&^A-TS3;VK(8XU[)84%;;<V#&Y^^;PB4
MDHW,H.""]8Q\#*6<J)QCU;&(V\DNIM3R1NID69EGB^PXPQQ=KQD^`>384BF.
MC]O.8W)\T0H%`H%`H%!#G8?84>A<Z<Z^8Q$N5+--DQ+63PL\>,Q8(:6D$GYN
M!D7K_._I+]!FP'=/P0P%R6:(-Y(J)DHW-Z$M[6G\E+33UIY,#0CQ+HL]UBUD
MDSUW(<9M&]/B=I[*`QPI!F+-,>YY^AN^7!.")2F=,59&-<#IL!">J&Y)Z>CA
M0P+2.X9CG;4V]+-F_?2.-$D-^])NM'`()(R,1<7:N"0^0;<9N+/B>>M=-M2@
MD%/]@D"T7;F0[)#7V<F%R\J[,.&H)[#8Y-<FA+UNR8-7!(BO6E:)WMJ$A)@9
MCSP66&XQDCLF-EFIQF/#>DFX?M'0>L`9)J?+2$<G8+(B.[AKP&@$CLO7E+2R
MS,8_'S,+[1I$*7</2>6[S2P@,S$;&@L+V$`Q<X@IW$X[,0N#W%#!Y@*DPAF:
M'X.\&SATVP=8-'J.+C!NZ<HXK6SQ276PMBID1=M`H%`H*8U"!F1,H:9"!C0R
M<Q88&BS5@U;DS&`I)5`9@4?I)8.B&(Y!=9%AB[56LS2653;V3P4SM<*E>UK^
M2][6O?&_EQ\MK7\E_)>WEM_LOY+WMY;?A\E[V_T7O0>:!0>/);RWR\EO97M:
MU\O);RWM:][VM>_^GR6O>][6_P!%KWO_`+;T'F@\7M;*U\<K6RQRM>V6-[6O
M:]KV\E[7M?\`!>U[?@O:_P""]J#S0*!0*!0>+6MC;R8VM:WEO?R6M:UO+E>^
M65_P?Z\LKWRO?_3>][WO^&]!YH%`H%`H%`H%`H%`H%`H%`H%`H%!#_H/KZ.:
M&<RX4K#SLJ-1.%I2QR@V=,Q0_P`I*"[QGP--T\<8N7C<.Z&<_3E@3D#86_;B
M2[N/-[-7S522/8N6(KUKB/=C.&]YBW<K=ZVEL+=7GMY_-PP.X$O$A<:D,("=
M"[KTL*.#24JF#1"\B8C]-FI";C"[Y`H98,B9>+,G*:+D,,$QIT?:)]Z>K)$I
MZA.9\R1+?&NM72$Y+-EQD-+]8:G()^MI+*AI&.*;`P&*XP)64IL2Y."#R-V"
MB2KT8-DC@4S-.D6*CAUB*7TKAC/EIII6P9[SU4@\8N@BC]_$\F(B7(RC-D.;
M`9AKR0<O[6Z5$RB-R.02:*!!8?('KG-@[..US5AI3_JN0`X^),-9H,%)ZVQ&
M%\Z<$I]5;*";<@PR=QY-=$:1?R03YIQ=/+-,A$I.9B!G'#-._P#G&UC`)_Z$
MJJFV<K,[H*NV3!UFLR0(R)0*!0*"E^I`WKFTC]4"_;#89<)8]Z`T]<V#7=6?
M7$6*>:].L,N]M9Y=AY_T6[JUG%TO/6MG05.]K96\F5K7MY;7\E[6O;RXWM>U
M_)?_`%VO:U[7_P!5[6O;\-J#S0*#QY+>6V7DM[*UKVM?R6\MK7\GEM:_^FUK
M^2WEM_K\EO+_`*+4'F@4'BUK8VMCC:V..-K6QQM:UK6M:WDM:UK?@M:UOP6M
M;\%K4'F@4"@4'BUK6O>]K6M?*_ERO:UK7ROY+8^6_P#MO[''''RW_#Y+6M_H
MM:@\T"@4"@4"@4"@4"@4"@A+LGJR#05YM@[(M=W(P+4NY-7:"V1*<,FSN4*3
M.=QS6<QB*X6'9!EKR**"B6Z-=#E'[F2#B3`B]DQ=D!5%@&Y$X6F&N)GA7DHL
M9["YQ(6-L9'&%X8^8.2*,<`+Z^,FBLP"6@864$\HX/!Q9SB7/-HDNDW/PJ/9
MG3":0Y`6UQ+*JLFF0I]]5]+\M[*\@Z%TJRB2LY>X8Y0QM.)UJ$\6/02=,<_/
MZR'39_-AX07[0R3^2C0I*!2$:GEBBQBQ1Z*)MQ!U\91&"#`I/IYTIZK..].:
M+3U_,YQ"HSG-7$)!RF3$@?M#D$>48*`BDT9O,)&_(1!;VH9G"FI):@(*'F;9
M@5(Q\0W]+LY/1/UJ*3QIYTYP]LYV9I<((<,X4JYDQ\18)@A"V@4['E$H\K/H
M_K4H926<`%&K8)%C1UDP>*IHW:I.U!S+)1JV(-WV(I/6ROHR1".F=,[%D`&,
M1*5*D"\J:DB,63<!#@MO*!`H$`DKL[%WI4<R:28`B%E`%=V<`+$A8I\3:@#;
MH9(U+"*(L.+]7"B\$C>X3\93C>GYRUDZ\&-MS!233X\Y#OG*D?%WUB%B*A+U
MM+(H&E$O;"09B1%!30!F)(LL3+NS1N68T:;J]<+WX&NYN>`2A+TH[+56H$A,
M&4D?(:YG5D`*$#%]`$9.670<@6Q$L+8+\Q;E#X*1EB<=.BT833;-%690<]<"
MD];N<+J2Z>@Y384$UO'F9AY()3+F$:D`\\(D,,,PQF;UGO+84?-/@DC`-';O
M$HZT)+HWZM5S&O&^=TCGE6%*B\RXICJWY<WY$>O]"")1G#24K+-)$E,EH(X8
MJ0B;WP9'4)7!H3EF2>IQ_-B*#YR39$.9-SI-RT$NVY;UJU=K"&CU^W%)ZW\I
M6UEUL+(:VVWL^(P.2S"/ZRG^OHNSL&921\0E$/G<$TKLA79K<`(B)B8)@(U#
MMPY20J("1>4R-4'$R+EH.4?N<A;`4T;?*MWDJ(3LO19(=#UG,O'JD9>-C2[#
MVHXEIS%GY:1-M4J>JXS.`@>P*4-6KG=NL4D33*Z#(@TEC4BAC@@,DN($4G+C
M=GHW2M^/]PZDDTZB<8%-9->,S+!9F&G;J/GD1BYYT0T4/BS%1@F'7<CA,M<]
M`0L>,.G5@^"!OSPMXP2PSP>XBD];^2[IEUGJO7VTYGK.8/5A5H/IN4[F,2)O
M?$PBF*@"`HQL"/WCH>SV5W/QV(2F%S%DU;!W7MH#'2%H]Z:\BLA;LQ3UIRXW
M\!GV)H5\3=@T)'(?7K(OB%5`JZ^GR)M5YA,]AZ^?9L1*L;Q?DV8B7ZHV`',/
M1K=TV'*1Y1=PIBU("5GXI/4QJYP\Q?K;4DQ+MAX!Z?(I&8A!9K%VB$"V>G+)
M"`G*NP<V9YI$GT#8NE8PF/U\2>(F!KTJZS6Q=#R@@(YRC?MI%)]L8U:]?5],
MHP_;$2V(`E1R"NU2^42>J""K$FQ+1QRR.YQ0#-6(HF@4&8/QR[F.2F.$'2:@
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M,$9M.1(PR"=QDF)4?MC8;)B9&.'<D;9VC;5DZL:S+WCR2Q?`E.NMBP,>W^?2
M.*K6,2<G(#SN/6/10+:'S@7>:75UU!=K(L(X]?QC!$BX1@.S8%*"^+'!XL$"
MR#TQ\WQN*,HL"TF.MWLJ\HZKA,*CW.D@E#+,:ET&2@[%LA<N+QSB+>>MP`P2
M5>6?*,%SS%#84XUS!'R81LJ1:7F:4J<L4(V!D#Q@*8ZO;[5G<ML3V9!7[L\Q
M)#7L=="MGM]?-K%!L]797'J]%G.94Y(?.A]=DXY&LC6PXK)6T6&+F7S9W@U'
M*RHW"QKYX5$BD]4RK_++(3H;6!\Y"(\S(2!J1V0I;"#7,0N7@F,IQ5AYK8#1
M<(3,!&0\DT=PV.F3GI;)RNW'69>J32@P^Z9"7(I/#9G1FZB%`H%`H%`H%`H%
M`H%`H%!$/='2$9UP<W`@1U^G*!>@M+Q#;>W#+IVV:OVNMMD'MABU1\,%*AB>
M<P(M!6H9B;.@7A"-,'_F8V(&OBY,D^2!%B*[[HVW<UD1?L?G8J?<L"T;SA3!
MQ[57T,-G8@X1PE)>0$S8P6-\XU"*"P4D<&,GWJ%B]-YO2;4LN1M=AY]VE0I/
M76&O!EMCT!IXK&"Q^,,W/JV`G-615][9==;"A+8$]W.E!W`0,R1)Z_4)IE\X
MUL.,/BPAF'LB$6,C1<W>1-NH2("A2?7+1BML!T9SC+F+]&"#?;&1;I/,T(^G
MJV6"W3IL,'0]GZY69NX;9\VB+-/9T1$DI7ZL<"0(\^]>$<VX0-(W(T4GJ8U\
MI44/VQI+VC#7XW!PRF!2%$I<,UDT#&\'#\\S@`W:L@BXPHSCUQY!ZP`GT#A,
MDR:+8Y#,B1NS5;T`D@V'=G=6E=\Q7R7W#^N-+RZT2;)2!9B7EY@%%!K582;N
M)<S8Q>3-7$.%2=86U!')`$*PJ7#S0@<[4,C$0*YP@+9Q]TQ*.24ZX<WYC>D4
M2><ODMHT.':G@VVI+IR038O*\V<@QDD8=YQ1RZ'PA.-N<'H\GM+)EKP&E>4-
MRQ-5^WD28S`.HCDN6GI7K=?Y*=EVEHK,DT",GTV?&WAB%!+![ZUG8=\@]G!'
M1C!C@XPD@$(DFL(QZ/U`]D0_%;,L+;RFZ%QZQ,66'LA2>M_*7JY]GZF*"8*1
MA5SD@<;">:K>1H:=C,QU^Z*0?9FV=0:LM.AZ4MBS)RX%AU-V0F0-TEFC1.0-
M'V3$:^Q=LC60<4GA7RKR7)L7KG1.J3,HC\YDYD67AZ23@TQ:P:<&EL&N<'EV
MQLWK.P2/$/6`]M#X+*2;HDS\\P15%*#+N;E5F[)44GK='O#U5>FAQ)WOAI`H
M6>V(KI?5PN?C&\=NY]8;*./)1O2%/(-%6#@5BHL09RO1A8&T?L\RUCCPLCZI
M8.$4F*I@4PU_:?=;(;N+1"L)9S.2RP<*;JCSI8A[7FTME8\,S$+;;61:%W/M
M/"&`LE6$:0V4X*PR11T)+(M(HH6@LA#L9?<2*+BD];N<>JGR/NS3\?DR8CT6
M4NP(N3G8O.)=C&Y!9A$7,<"[?(G'?JYJ'?%2S&//]*RX=)'J;=D/'(>B%V3T
MLR4H4GT\Z<V7IOT'#(#N75.F#?LK&MKIFT!A!-\.Q3$&F@8Y((N+)"UG"999
M*;"X5L3`06'MG3!H9B3<`2S;$Y5&D7Y*:>NL.+'HGN?FPVV;NA\O/Y8OPJ1X
M.@ZUUL,:\/LG$=U7+FZ(%D3C#-T7*.(QNS6!Q(.R25)Y,)4CGZ+90:93'%I/
M6_E*LM>N=0D3XD.-(''&!G#8S05@Y@NS19R0R/6<ZB6O)$"B`8E!&S:3*#)-
M)\AYA1N9;/6"C5%VR%EP>1HU'A3VRTQ5EF$[9A&P34ECL:?$LSD1;BWA\28C
ML@C1,>R-%92#%.W`Z1#!;Y!-\6A,I:MDW#=%RJB)L4P0R#%`A$F2G76U#:WB
M"@,788`[UX[%R[#<.[]4[!%/Y$Z<#M<MM2Z>V;O2.30B^C\2/FS0C;.N((*D
M,,'B8MF3S;'C3/S3H]""X1T:[OM37?$3PE<\[[RUO#Q^Q2(\6ZE"$,U/(I_'
ME!ZIALC/I5#FN[7<OU^%46C"BC9:-(Z&G/K4ZJ@XL@H+(-_4]W+=@@7)$5IM
MY7^;,>M^D85L"0*0O)-T,G*<KVM'<X^R;%Y`W9L-:;4VGK)F=,'609`8!0E]
M]32(R,0+YM$VZEL`7IKQ^X$9F!,>WI'-C?7?94<D4-?3[8$9=:YC#<Z_CR#]
M-&>R5&[X7*-E1Y\X>OUM9QH&F)P;ZT)DT2P<N>:9*/&@)SDS.O@+`\*;_P"(
MG;IZOIDV'=.:GGY.1,(B1,G6L6@JFP3!D;'RC\<B(0/2...A2"#%!R9=RUB5
MB9UF3B+<2I(!9)@Y`$6#:2M'P5H*3UUKQ6SCVESK<P/`7FK[$H4=H"6&%XA,
M,V+R1/);LF"C(LS-)`U`;^2&)=J#9(((*8$G*IAY%G%QV3E`@&6(BDX]:.<*
M3*.PH=!N=Q'1$Q!.PP,@>=C'H+,LQ2?C10"1'F\U.6<ETPN#S.)02)2[8*X%
M-ND=,MH^M&`3)_)'PUFZ%)K39YTIZ]0]>4]E0>(R/=``P+?,\-2#92];E,AL
M],L9#C"-4ZSVY+S3Q6%:\F"4=A0$!MZ"-UC_`)\T;>N7Q#,5$7Z3%+TT4PU^
M\T]I94<]&:J9NQK9T6-H-C4N8P<,<4ATMQBYB1DIRUUFS8"I1<+:/D5EIZ];
MQVR#,BL[QMGE(,FUHFDJ?P%.JQE7KABSE1"@4"@4"@4"@QN9U!K"0FW4A.0B
M/E2A!P@^)9OF6*[,H4:!%XRS-E16>5Q)20,8TY7CK"0$&3DTQ`*7#-'Z(VV+
M:P67;ESG_P`HW/+5L;56#KX.A+IQ9^Y>C76+<6R4=,7SAZH\:NG8\,/%$7"*
M^"Q,0FN((YNAKY^U<A=I#2^K2L73A9&&"7<62/2648!5O2KM+2"8K25Q*BM_
M(YLKFZ/KS&4+$[YJ98.E#I'-3"]W&5Z%5NVYJT3BJ77QUE&\5Y`%)1TZOBDZ
MQ6,`RY4R;?#"2UG5E'K50I)).[1P<9*79YRF58,LFZ4F.ID!67JJ<N<]*OEB
M:FHX;<BX+.S3A]8=?!TX>/S"LA>).%\%<5%Q3D\I@95`JY9@\BC0:_\`5WI(
MH8JT+6<UT172.IH1D"O$H&``X1AXN0CB`]OFDT`O%Q98#BL(975R:#O08^>-
M1P/@T123!QLH^CP;!B&<JL<B/0=<_::>LW8USK\)F,=2)67)C+>FIC!,H=&U
M)(2/QH<D[P910L;D*S@W(GL90$KR0J[>/SV9%R\=*+"L^VY2B/,>@RR1%`CJ
MZ,N4"V1?(@CDBZP2<V/Y[2S-IY)I.D\,$2N6[=N7?-T[8(.+;#E6*B>6)5>U
MQ6<^NHC@K8O0^H`LNO/!,""L)?<XI);GFUG:;SU\LE.TERGX'/F?2G'VT-D+
M.,_->1=Y/9>^6QS>R$JNZ%>NMD*(AS%H)J3<&6NKHRV)NRRQUP[;HND,U"Z\
MJ$S?-_[%)U@GBO:5@`)I.^&&.*#H('Q1Q30&,D4"UG.5;CVAM0Q&-KQ&*083
M&8^X,!S]V4?4?AU&YB.!0L:CCX>_'/&Y(6I'(S&X]&8]B-=M4@4;!B``I-H(
M'-&:)%.MS=H;`?84AJB%M!F#>.MD![`.@/9LTXG:#8Q_(>W9>CI#EQR.L-;-
ML73'%NY<,X!"V3M5=I&`J+(5G/KJ9XO([G#1H=T/>"M:1L:L)5!+#,62#ALU
M'J1AS`'H&[1DBXP9-\1CW5FNWR":3?%.[Z'A'JF*CII97(5G/KJ9XJO*M(:I
MG#11C+H4+D#14M*3N:)/-ZO:Y6:Q$Q`96Z]E=W;/'UY"9`<BCU#'*S;(`5?"
M\$<&CC-*X4G/G+1ZI=`^KK>/+&VQE20(%%L':KY,NX.3Z2/'=G"CK)2_K`WM
M39+\HAE>[8IG.90B11=-S#U%4M9ZW1[0_I/G72*;B-.\=;QW)U#FD6'Q9RJD
MY7<`1T*1EC:+C1BRSE11L-$LYY,QZ0_#*S)<9*#8UV@X8$'#?,E9?Q#]%ZGU
MV2S:P6%CXFT>QDB'<LP3HF/9*#EAT(C.#>S-!]BV3]!CD'B8$.LDE@N##A&H
MX,JQ:9+HJA_:O.FD%7"#N^M8TD[08O!UG;1LLR=+M2*FOEB5GSAFN@L17)*Z
MGUDH1>$,W+Q_G`XKD[76R"L;HBO76V5(:\K<[,7(QXRU%#FCH,19$A*[9AFB
MH.5&/XP5$LF>2:V/F`84G"(.1!QM/R1X*^A$,=BAC1>)Q]0<6LY]=3/&5S17
M1&H8.W,M8C`@4>;R&.C(F92%IN&V+Z/AXV*APU@I[%QY4_1HF`CL:L[1NF^4
M!1J,BEG*C*.!$6!%N>Y<T%DI'UU];"'CF*#&P2,O"#PT1?1\&Q5`+L`0=\_)
MN'8X$.5BP'(<&:K)#!_H&.+-JABX=67%9SQQUKE3T7J)$?(Q2,!`HL)>4"GI
M,@B@LEZZD4>/>VD/*'RJ:V*RLK926R1_&464QD"IEJR)."2KMBS60%>2U<.4
M^=DF[)JEJ:*I(BT&[85YI%VFJ(1:!X+'6^(AQ@[Q<"KIQW64`CMLQZK93*/Q
M00#SRR%-[M,BUG/J_G*]RFG=8F8\\B9*&B',8?PL3KMT`O@ND(SA()1901',
M&""Z39$>PR75LWQ0335Q3OBC=7))-/#$FO2IR6B-1HYO5,(.+MF1*,3C^^2Q
M#/TLP,V81W*P)N+9O<L5'K3:A<K/47&5KJ8R4D^(^R\ZZ6]F*]>7H]"-\XZ,
MAY.)F8MK*+@2<%;MF<1>#&BC50`S8,9.)%,F%DUK88,@8::2T%'F>>&;:/`)
M&8!!$F`A\NRS%9ZZU,UT"@4"@4"@4"@4"@4"@4"@L*2:NU]+RR)V2Q(.8*IM
MQ+)9T[0ROZS8`#.4BCXXZ@GG@VD0V/2+-60`!IU$BQ!G5ES`INT(KK.<PL!W
MRYS\_14;O-5Q=P@HZP?XHJ(N[I-7Z"SYRP?#L/2[8BWH=R2=N8^[&V:N(ZYN
M@X!J#UF;/-N6LYKU1U%K9`,;CR$1&)!9&>`R<V/3NYP1(2"+-HNSCI5:]G%E
M,789I"HFV89I9IV;H1\6EAC[!MAC1%JLN:]$CB`\LPUE&VA45@\1'$D$G6#]
MFW(,!8Y\T0=V=>?P9.VX*/J+LK*>B*/HY&RF2-R<>"NV(4];E3G5QGDJKJ*'
MW7NV'LTW6+%5-ZU;#`@*,MDF#U-?!V/MG'(T%`OLF*S?,J&9W&%,GC)T\1<%
MK.<K@!\_:6C.'F8]K>,!FMI`.E.+`<RNU&X'Q)II)QQ),8DIB/35:RMBUEZ:
M:;;%O>8IY2W-'*1JK$U"5E[1G1NI9"K+E#,%"OTYXK9Y,&*N#G$3(#&(]B)3
MDY`,DX3$J3)`4,&"V\UP982QL.&#6*!E-JP:)(BL\%-4YVTFJ]N2SUV#N0N\
M8DKOK7?8._60YQK%VS(V<8/,5<2"+G2^J7'IV.5G2BT"C:BJJF3#"]Q7KK;+
MTV',NA1;P00&ZOC3!X":19B(7:).V^3%M"5M>N(K@CBDZQP]D$5U+J^[-7/'
M-;V&O(8DJHHE&Q.#4M9SZZF>+^SW-&AI0;D$D/:OC!(Y*\B&<C(K-W&*QBY:
M,D(:2L]Q1<)I*XOHP7,!W.'F[8*M31F^6-UBY%5R2JLB=%:B!6F'J>!`AUY[
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M)^[<W:A)I)!C7S+(L[14%9SZNY1PA;[_`),YO*)D$B&G8:[3*9.LGF*S%7+V
M=B+.2L#22-_2+79MY(SFLV;RMJSNW;2Q.;32TD2*7ELBN2%9SZZB."]XYI75
M42DV<RC<'!AY0JB606-M$5<7JZ9N2R>8D?/YYK9X+J*2>;34R@LMAFLP>3*6
MY,,VV$E-8/A6>NNJ1DL]YRSH`B-9AR>M1!04,=%GHA@5>G";4(Z/MY*U/+`4
M7Y1QB"R.(S"3>N+"+,L2BIATX?8KN/-JIBLYKH2T5J!'VT>QU]',[S>+O85-
M,EV=W64OBA!DB,<`I/DY45R/C\13=(0S2*W=W'"+9"1^34<JJVS%?+!;*O+/
M/BZ:B3G5D:=XJN%GN>3S%\[5]8K/9Z4R*XK.7JJV!=,MM'8AEL6P4Q),S<R/
MF6CI$H_5=W+6<Y7XPU1KL6*&`AT4&L@X<1*0(\:V])29HBINY2>2QKFCBO;!
MS<^\2Q=D7#JRSI9U=5QY[%9=;-0BTF_-VCFH]^);ZY")C2L;+0\FRLH1R0?Q
M<[#(=KLP"=X9/LO2!Q&#Z^@\7<MU?98YAXJ#:?@P'H>P+6<^L?=YOS;HJY!J
M5MK"+XDF4H(31H]3:JI+MI,6EH.?E":.::^-T\B,^C0*=OFF/D8NYJ,;RQ=K
/G(/9D<R5Z\O1FZ@4'__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>28
<FILENAME>g908770g53w98.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g53w98.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X5WN:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](EA-4"!#;W)E(#4N,2XR(CX*(#QR9&8Z4D1&('AM
M;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN
M=&%X+6YS(R(^"B`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@
M('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(*("`@
M('AM;&YS.GAM<$=);6<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]G
M+VEM9R\B"B`@("!X;6QN<SIP9&8](FAT='`Z+R]N<RYA9&]B92YC;VTO<&1F
M+S$N,R\B"B`@("!X;6QN<SID8STB:'1T<#HO+W!U<FPN;W)G+V1C+V5L96UE
M;G1S+S$N,2\B"B`@("!X;6QN<SIX;7!44&<](FAT='`Z+R]N<RYA9&]B92YC
M;VTO>&%P+S$N,"]T+W!G+R(*("`@('AM;&YS.G-T1&EM/2)H='1P.B\O;G,N
M861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1&EM96YS:6]N<R,B"B`@("!X;6QN
M<SIS=$9N=#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+W-4>7!E+T9O
M;G0C(@H@("`@>&UL;G,Z>&UP1STB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O
M,2XP+V<O(@H@("`@>&UL;G,Z>&UP34T](FAT='`Z+R]N<RYA9&]B92YC;VTO
M>&%P+S$N,"]M;2\B"B`@("!X;6QN<SIS=%)E9CTB:'1T<#HO+VYS+F%D;V)E
M+F-O;2]X87`O,2XP+W-4>7!E+U)E<V]U<F-E4F5F(R(*("`@('AM;&YS.G-T
M179T/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R
M8V5%=F5N=",B"B`@("!X;6QN<SI%>'1E;G-I<T9O;G1396YS93TB:'1T<#HO
M+W=W=RYE>'1E;G-I<RYC;VTO;65T82]&;VYT4V5N<V4O(@H@("!X;7`Z0W)E
M871O<E1O;VP](D%D;V)E($EL;'5S=')A=&]R($-3-B`H5VEN9&]W<RDB"B`@
M('AM<#I-;V1I9GE$871E/2(R,#$U+3`T+3$X5#(P.C$U.C,T*S`U.C,P(@H@
M("!X;7`Z0W)E871E1&%T93TB,C`Q-2TP-"TQ.%0R,#HQ-3HS-"LP-3HS,"(*
M("`@>&UP.DUE=&%D871A1&%T93TB,C`Q-2TP-"TQ.%0R,#HQ-3HS-"LP-3HS
M,"(*("`@<&1F.E!R;V1U8V5R/2)!9&]B92!01$8@;&EB<F%R>2`Q,"XP,2(*
M("`@9&,Z9F]R;6%T/2)A<'!L:6-A=&EO;B]P;W-T<V-R:7!T(@H@("!X;7!4
M4&<Z3E!A9V5S/2(Q(@H@("!X;7!44&<Z2&%S5FES:6)L951R86YS<&%R96YC
M>3TB1F%L<V4B"B`@('AM<%109SI(87-6:7-I8FQE3W9E<G!R:6YT/2)4<G5E
M(@H@("!X;7!-33I$;V-U;65N=$E$/2)X;7`N9&ED.C)#,$(W0D0S0T5%-44T
M,3$Y0C<W135#-#-",#1&-SDS(@H@("!X;7!-33I);G-T86YC94E$/2)X;7`N
M:6ED.C)#,$(W0D0S0T5%-44T,3$Y0C<W135#-#-",#1&-SDS(@H@("!X;7!-
M33I/<FEG:6YA;$1O8W5M96YT240](GAM<"YD:60Z-#8Q.#8U-T$X,$%$13(Q
M,4)$.4%%,C8R-S<S13%!-T8B"B`@('AM<$U-.E)E;F1I=&EO;D-L87-S/2)D
M969A=6QT(CX*("`@/'AM<#I4:'5M8FYA:6QS/@H@("`@/')D9CI!;'0^"B`@
M("`@/')D9CIL:0H@("`@("!X;7!'26UG.G=I9'1H/2(R-38B"B`@("`@('AM
M<$=);6<Z:&5I9VAT/2(R,3(B"B`@("`@('AM<$=);6<Z9F]R;6%T/2)*4$5'
M(@H@("`@("!X;7!'26UG.FEM86=E/2(O.6HO-$%!45-K6DI29T%"06=%05-!
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M,F5N-4MJ<$M7;7`V:7!Q<75S<F$V=F]204%)0T%1241"455%0E%914-!341B
M445!06A%1$)#15--545&55).:$EG6GAG6D5Y)B-X03MO8DAW1DU(4C133D-&
M5DII8W9%>DI$4D1G:&%357E7:5DW3$-",U!33F5*16=X9%5K=V=*0VAG6DIJ
M6D9':61K9$95,SAQ3WIW>6=P)B-X03LP*U!Z:$I3:W1-5%4U4%)L9%E75G!B
M6$8Q95@Q4FQ:;61O85=P<F)',75B,E(Q9&YD-&58<#=F2#$K9C-/16A984AI
M26U+:31Y3FIO)B-X03LK1&Q*5U=L-6E:;7!U8VY:-F9K<4]K<&%A;G%+;7%Q
M-GET<G$K=B]A04%W1$%104-%44U2040X03E5-'$W1EA9<7AN.'DY3C%F55!*
M)B-X03M'<E)A3F14,F5R4E%M-'-:<F%74T=1>7=F=D)(>6I+:VE4:G=).3A6
M95@R+VU,>C5:4S9X<7HR9"]D5VLQ:D(U<C`V,&$U=4=72E!4)B-X03ML:D9G
M=T5J='4W2DTX63)O<D$O<S165"M$.'I03E=O835P=6DR=S`R2F(V-#%/1G11
M;%=D67!R9E1V45E4,B]#64UQ>4Q--D$Q3D=1)B-X03MM=$YS5EE0;U@U:2MA
M8GI2=DI7;E,S.&M0<#-7:7I81C=,3D]B<2]3-79:575A>65O;V5'2DEU36]:
M5S8W:V0Q5U14+T%*:B]!2FI0)B-X03M996%,6%9B1S-S:'!E;C9H34PV0TME
M04UB4#9X0R]P4VTT67%Z=7-":4DS1E<V,'A6271A+TYV>E1$<75K,S!#37EA
M4W1Y4#!1:W,O)B-X03M/.%0Y1$-E2S5U84]6:VEE85-Q9G4V,5A::65I<DQ0
M4'9M+U9,=CA!2F4W,3%B>$Q'.4XS8G):6'5N6%11<DI#,2]':7-S:T5K;DAN
M)B-X03MB<V955EI(0VYL=6%91EAA5')0;B]1+TY*.'136&1N<6E83G1D-B]"
M1DLY>&-Z<&%,8W!';&I"8TUY3DLS<'-E1'E)9"]%6599>C5G)B-X03LO3UAZ
M8F9E6')U,$YV1G!V,7942G!X<F-0<E),1&-N5$=U>%EX34I565AA4R]">35F
M-T-U,DMP;F%F;2\U<',Y970Y14YT8C9H8GA7)B-X03MI>6]O5U4S;'=O,%0V
M.&A%:&Q+;'!,;V5L>31B.5!T67%L4&UR.#%V3D175#-F-E5S,'-:+TPX.3E"
M2%EE=$-8=4)C5W19:DPV;D]/)B-X03ME2EI'5VEK,#-Q2VXT5E4Y.#$O;E(U
M;C!I.78T<F94<E@P-V4W;'1L17EY1F]O-#=Q,'0T<#5M5U)15755=6UE3VQ/
M;F9E:7%E5S,U)B-X03ML83%*-55V3E(Y1S%N=7)0>D$K:%188U-Y0S%J9U<X
M1G5B,E-0,4A:55=.9WA(<6945$%Q4V9L+S5W,3=Z2C5P,3=63E=V<&10:3!V
M)B-X03M48E<T=#E*:4Q#34-23&Q8;D5*96IQ-%):4GE5;C1K,T90:4MP5G!N
M-6AE8DY!=$I0<EA$5F)G9E5,8CE/:3AK=4Y,94<U33%,=61*)B-X03MP27AB
M5$5X8UI%-7%O-4$P0VID5F9O;C5P*UHW1C<Q4%13-W5.43$K.&I0,7DT3'=7
M;VIS<E-68DM*,VM4:#9K:VMG:7`S0D%1:S!X)B-X03M634PS.#%03F1Z;VUL
M871#8E,R5V9766)3.3`R3DI$9%<V05A*83)U=6(X560S=#0Q0D9/6$QP46IK
M<6QM=69M+W=#84Y2.&I.2T5T)B-X03MT3B]3;&YF<VUP=U-U1W0U<F94:$],
M565N34=I=6IC.#!3<C%O=%1'0V5/0E5Z.#=8;798,&XU9#9D<%=S4S)U;V$S
M63-K8G8Y96YT)B-X03MK95$V8GEI;6Q-2EEU635Q3W164$IV:#<T<7%8,S5L
M*V-T0VXQ87EN:W-D471F3%4R;#9D<48K66Y%>DYE=W=.3&53+W8T;VQ3371*
M)B-X03MY<GA&86)Q2VY#<4(Q:C@W9DXQ:&5.8G1&<$U4>&I4,&Q1*W!-4%5V
M<DLV=4=D2E9M:E8T,&MT1C0W9D5R:F9U5E5.3"MC=FU#1V58)B-X03M68EE7
M,T,X9S!'4V5'9'!P;TQC86AP,3-C=G=54WAH0THT:U%N.7)K060V67%V=2]Z
M,3@Q4DQB14IP84Y*8F%3,'E34GI65V)5=$]U)B-X03M,=5@O04AE=$9H;711
M=D4W,&%H3F1Y1EI2<5AM>E=.5&<O3')5<$AB5"],;792;34X>#-.=DLX4WA3
M4%DK=&)1=$]P5F\T,FY9<51Y)B-X03M&4T%#9#A665!D*V%F3DDQ1%$P;G8U
M>F)0<79M1TA3,6QV-3=-6'5L,CEU>E=-<S!I4$=:2U-F661T,F]0:3-R:%9K
M1C%R;7!72&TS)B-X03M2<G)Y>G).>')/;%0V9&(V6&-W>3-,,T-"-W(V>#E7
M,4HP;&-J6G):4%5K+V%1,3-R=7%H4'DW+T%$23%M,W-F3$]L=$XK;')F55A+
M)B-X03M897!3>DYF6&EZ5&%J4$%O:U9P;&M74#!O:%(Q5G=V5F=Q:F16-VAG
M5C)+<U4T9FUT+W8O045,+T%*1EAN+U941EAC4'I7+S,O;U@O)B-X03M!0TMV
M4"MQ;4MU-&9M="]V+U%V*U)6-2\Q57A6,T0X,78Y+S9&+WE+=E`X07%P:7)U
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M+S,O04M&+WE+=E`K<6U+=31F;70O=B]!14PO)B-X03M!2D98;B]65$988U!Z
M5R\S+V]8+T%#2W90*W%M2W4T9FUT+W8O478K4E8U+S%5>%8S1#@Q=CDO-D8O
M>4MV4#A!<7!I<G5(-7)F-R\P)B-X03M,+VM6968X05941EAC4'I7+W="+S9&
M+WE+=E`K<6U+=31F;70O=CA!,$PO:U9E9CE6359D=R].8B]F.$%O6"])<3@O
M-G%9<7EV1EA9)B-X03MQ-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ
M-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ-T973'8U>'9,;GI$<D]I
M)B-X03MA4'!O=F)J46\W6G(U<%HO<2]+4S=1>4I(0U!4:T15:E=P3$92=E1X
M;W%G3EDO3FI19$I0;6=8555V.$%Z<DU%5GEW5VQB;$I784PY)B-X03MZ5VUY
M6$-'2FHR8D9895IF>D5V+T%#+V\K;S,Y-7`Q;SAM;FUY1'=286='<CEC=4)B
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M<%IY='-K<5)C5FY1<WA#37ES<#-!3DLT<3)V:R\X<W`O34YX<&]T235T6FIS
M)B-X03M85RMT,FMN8W9A6&MP3$<U<7A357E31&Q74W(W06IT:7%5,W,O=T-3
M.&M7<C)L-6-L>DI*86I6:$I.9FU:+W%+4UA6<S5C=#9R>%)2)B-X03MW>5-"
M,5!#:6LQ,GA63F1).'@O;'`U8V@Q5S`P>38K<E$R:VAV8C8R4F)Q64$S1$U7
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M5"MO-C-D6#$U<D=U>%185C`Q=W--,$9J-DIJ:'4W3V5X:VIA)B-X03MT>$IZ
M-'=Z:C`K9U9L<5$S2G-64E(O3&9Z4VEA<6QT-6IT;VPQ0T-+>&A,86%894MY
M9W%Q44=4-C!R3CA"6595<G5Z3E-P2$96;3)J)B-X03LR53%H<$YN6E1Y<%!,
M8E%P13AS55-W4G-554-Q47%716$W9D-T5%%B5D]+;WI&6%EQ-T9867$W1EA9
M<3=&6%EQ-T9867$W1EA9<3=&)B-X03M867$W1EA9<3=&6%EQ-T9867$W1EA9
M<3=&6%EQ-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ-T9867$W1EA9
M<3=&6%EQ-T98)B-X03M9<3=&6%EQ-T9867$W1EA9<6MV;3=Z6G`S;&)2;3%B
M54DU<&):6D5I2U<V<7HQ9EEB3WE#;C`T<7=B+V]9>GE4+W=!<T]P+SAI<F8O
M)B-X03M!2W(T<3<O;UEZ>50O=T%S3W`O.&ER9B]!2W(T<3<O;UEZ>50O=T%S
M3W`O.&ER9B]!2W(T<3<O;UEZ>50O=T%S3W`O.&ER9B]!2W(T)B-X03MQ-R]O
M67IY5"]W07-/<"\X:7)F+T%+<C1Q.4(X=#8O6BM93D5T9%ES,&MJ=')T4S!A
M5$)6:T%6:6@U0E=C9%8X8U943$9867$W1EA9)B-X03MQ-T9867$W1EA9<3=&
M6%EQ-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ-T9867$W1EAN4#4K
M9BM3*VPO-6EO4#%N0T9F32M+)B-X03MS>C!(>69D87(U3W9,<3(P3S1U8C%P
M63`P+U5);6%J34AP2W!1:U(X071&2#=28S=';%%&52]G+TQB>3A:<DI48W),
M04Q6<%=.6#EA)B-X03LV=5!29VQP17%T>&%!9E=H6&I2=F=95G)V:6A*9DY0
M:W94=$HX=')E,C@X1GAC*W%0<E5Y335I<DI.4$=S5F]E4D1#4#9S4R]-1G9I
M)B-X03M5,7A3=V9&6#%D*U5(+VMT.44O-'A39CAN;G=+>D1&6%EQ>$A8=D]L
M-W`S;5EA4DIP,#A';4Y96$XS3G)F2S%-8U%H34DY8FDX-&LY)B-X03M/3#%I
M2$)J-44P-&=R531Q=W0O3E`U;%(K5T1Q9C$U2DER4S9V-&IC4G!"3DQD;VMI
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M>D@O-G9C=CA!)B-X03MW15`O0412:7(Q,SAI+TYN;4AZ1&$V=RMS,W)8:E<X
M:T%H3'%I.%$T8W0Y9TPQ;TU696\T1F1I<G-69&ER<U9D:7)S5E-Z>D8O=T%C
M)B-X03LP+S8V-'%X8D-H17=7,&-T<DTT-65T1T%Y<C))-4%(86YA=FII<7)"
M67=Y4%IQ5UE#-4(U57!S47A88C=S5E589VE&;6MW-6E1=%$Q)B-X03M(=VM5
M-FIW,S)X5D0T<7DO4F8X06IM469)+SA!16IG4VIC5F1I<D5V368U;&%&-68Q
M;S9B<456,&EP85,S8W0U.5=U0F)R-F)20E8Y)B-X03MC>"MH4G97,VM-9U)$
M4E=)2D=+<U1H+TYN>E!C*U,W3'I.8E=D:3EO>C9G3E)U55EY=WA',G90471O
M5DAQ>'975T@Y-39M-#(K>4%W)B-X03MO5F5I95=.8E179$9T<C1":$EY2TIU
M55IH*TUO1TI#35=+9SAQ,$IQ3V@S0D="53%X5C)+=7A6,DMU>%8R2V]05S!E
M5%)R.45"6C-T)B-X03MP5E92=5-3:$%!>%8X:B\T2S@R+SE7;34O=T-26G=Q
M;3-L-U-V3G5I>GI43#5:1BLP,%II<&1W>G-&5G9T8V93:VDK,$YJ6'1T,T]+
M)B-X03MO,30O3FE2,S%V86561FAS-RME,75*6693;F]'<WA246]%9U5+-TUZ
M34MF=&1E;4M'>F,O;5EV<F96=$UU3%I:8F,R84Q'<S=#3T%L)B-X03LR2TPV
M:GE6+W98;WHX;55':6M9<7AV.$%W5C5T+W=#<E1C+SAI>FEL-U(O>FHU;S)Q
M-EI:-C)U;U=S;'$P<VQU67A+<%AK07-L858K)B-X03ME2E8V-6=6,DMU>%8R
M2W5X5C)+=7A63%!-6D$P,#%.4&I8<FER1F5A9GI$-SA+1E-/.6QJ-#A*:6]1
M,55"=&=4,W!I<FAE4VIJ4V1H)B-X03MW1D5O-2M%93(K,DMT4&1Y3V=J95ES
M9S-#1FE14&]*>%9:>E0K669F:7)-3D5)3VQW14=O;V0O.6MC0U5B:7)S5E5Z
M8E=X=59U:D5H)B-X03MU55)O:VY+:FUQ3U9::T1D47)&1DI(<U!$1E502&\R
M:U(R:3)C9&IB<&%),&IP8G)%9VI$5&-V5EE)0GAQ+W%V>5!F:V$Y5&EQ=F$R
M)B-X03ML<F%7-E<Q<$-L=F)X:6MC35-H155D84MQ9T%9<7$T<3=&6%EQ-T98
M67$W1E9/-"\S;FPO,4<O5FER0CA+15AP='5*-6U$471-9T97)B-X03LT:V=J
M-54W,7A656ES6%<R;DUT=3-*2V-80D]X,E!Y<'AX5E5U24Q71G)H1$)S:4MY
M3WI.54TV<E%$8V1Y5&EQ5UEQ>41Y=B]!2&1X)B-X03LX,2]J:55P-6=6,DMU
M>%8R2W5X5C)+=7A6:F8U9V8X04M/=B]!35I9+W="6G=H4SAW=V]D:7)S5F1I
M<G-6971E5'8X06Q'<D@O5F(O)B-X03M!26TR07!4;D%R<U9D:7)S5F1I<G-6
M9&ER<U9D:7)S5F1I<6IE3G=T2C(V.%DS3E!K<'A6-60O:5@O;#(O=T-(+W=#
M8F-K:#,K2F8K)B-X03M88B]H+W=$;3-&5S(X>FQJ53(Y5"]R+S@R-'$Q+VE8
M+T%*9'8K2"\U='A6,RM*9BM88B]H+W=$;3-&5UAE4F13*W5X6&@Y4#`K1$E/
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M3E$O,6\O=T)4)B-X03M90V]:=&=3-T9867$W1EA9<3=&6%EQ>'8X=U`K561F
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M2TPP3$U1>D)O<$=$4V-N4$)G13-7:F=N>'=+9W)383%S9%!V1E,W4G`U-&]*
M3&-C1S5#4EI6)B-X03MC<69H24)!6'5A6592<C8S<'1X2&-#-VYE4V8P,&E3
M-BM0,4=266Y*-$=M,TMC:79,.6Y!<D8X2W97=DHS+TM.5U`X07%T+WA.<T)3
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M2V<X,%)X2T=&=51);W0T,$A08C`W56\V8VIX,U!.3C9D:69B1E9+,#AY=F%J
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M+S%X5C,V9#!3=%`P:&)64%%E)B-X03MT2"]81EAF<'I29BMR:&)F.&IO+S8T
M<3<Y3V%,+W="6$,R+S5(4B\Q>%8S-F,P6"]!2W5&="]Y3VHO<FER2"]03W%A
M8F-A0S!C1C-$)B-X03M.2C9I2&A(26I'9U!G1&A#2&Y(2F9%659D>5AX1TMU
M-4PT:D988VPX4FER=5,K27A6-F@U5#%B4V]F3#%N1DYE45)Y2W)C:V561EEF
M)B-X03M'>#-"3T%P5&8Y3V%,+S%C3&(O:V1(+UA!<G8P-6]V+T%&8TQB+VMD
M2"]81EAF<'I29CA!<317,R])-E`K=4MO:3)U-U<U47E7,'E4)B-X03MO1'A,
M4G-(04Y+,'%P3RLK2W%U2W5X5C)+<58Q8E$S54115$-S8C`U04=N43$W9DQ&
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M0G9D8S!I>&TY1S=U:VAL;T<T3E=T1#-X5C`K)B-X03MU-DQB,E56.6,S.$9V
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M65A.;W%'25)+;%=92V%G;G0Y3T5)4C`O;$PY22M26E!,=#@S<%-Y=W-I>DI2
M)B-X03MJ1DU(3'=Y;V8U;S,T=5!C645P379K=GIR8G1P8E<R<TE(:455*W!Y
M3$I,0W(S:'5V<D8V-&A25U-:3&Q'845,2B]D04%R-%E667)P)B-X03MV-51F
M;4YP<'1V<65O,G1V-F5J5T=L>79B,S$W8G0V.6Q)>D=50T]%2S9L2D=10GA5
M8VE15DDS5EI04#5".#5Y-C5P9"M036LP5G!")B-X03M&84A5-TI,:3@T4WIW
M<'AN-&9V2T-/47AX;F-6*S)A,6)&5T9A>C5E+T]I>2MQ-E8K;#=M864V:VYM
M:C%#,&UV<&QI6C%T94LX:&)L)B-X03M09VMH;5E*8W5S6$-4:4=$55E+<VUK
M.&DO;6-K3VE#,3$P*W):4U!,9FUF56)Q47EC<G$R;#1&;'0P5UI21$9/9SE2
M0E0Q04XK3F-#)B-X03MV56-69&ER2$PS43<K83=M;%)6-$\U6F%T,DIW<6A0
M32]L,WI"92M9.4LQ3%0T<D]7,W-T4'8W2V5/-VUL:DIA*TYV46A5:&Q$2V=T
M)B-X03LY>'E&83ES0W-48CAS+WI)=%IR3S%S4$U!9E-D4&DP*T-'3U,V=5EJ
M271N2EIU>DY%<5-)<D57.'<R63AH24%E;%-65DQ4>4HK86-')B-X03MS4C-B
M87I(3EHX-7IC5S!U;S-S<5-2>79F8U4Y3U-&;WA33V4Q6#)-4DDS3S160RM8
M+WEW+TTS5'1!=#E-=69-2FQA1#E(=VQ)3"LU)B-X03MT-%)A,G-I97)&0TEO
M165!*V=R4F-G>#4W3V5*1TMV6#0P0U)Q9TI)54)15TI9;6TR-4\U3TMT-'$K
M969++S5+965T3SAZ85)Q1GI$)B-X03MB:3)S-S(S=4II<WEK:$EP5F1Q0VTK
M=W=Q>C98.'8X07I22BM932]M3#%R6#E(:E4Q,4LS=&I--7(V96U$5'=(45<V
M<W-J158U97-6)B-X03M59G--8T-P2C5/+TIR>DIO9#,U66$W=7)3-W-D0V53
M=&U:<&ES4UA69SEV94-,;$935#%R;50Q84U&;V\T-'%N4&MV.'!B-WDY<C!&
M)B-X03LY4'%Z6&QJ0VI,.5-B:U8U5W!E,S`Q>'DO=T(X,E5H4G9&9W`S<%A&
M55)E95-03C!A86Q:-F)C,FYO86IR2S9X2F9Z3W=U0VYQ<$EB)B-X03M:;R]1
M;$AW3$=%:6Q34E=50F%D3C%5<$@U8R]M9V1'5WI(;60T8C`R9U=3.2MV6'-X
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M:7)V.%,K6%`K<G):+W=$4U)&+WI6:7)V.%,K6%`K<G):+SA!)B-X03M34D8O
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M5FER=CA3*UA0)B-X03LK<G):+W=$4U)&+WI6:7)V.%,K6%`K<G):+SA!4U)&
M+WI6:7)V.%,K6%`X07$V,F8O4U)&+W=!,5EQ-R]!0DPU8R\V=71N+S!K4F8X
M)B-X03LQ67$W+T5V;'HO<38R9CA!,&M29C@Q67$W+T5V;'HO<38R9B]!16M2
M9C@Q67$W+T5V;'HO04MU=&XO,&M29CA!3E=+=2]W05,K6%`K)B-X03MR<EHO
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M87IN<VYJ=%@P-'DR='1#=#!B,S`Q:%9$>&MD9FIM5D1Y5'(P0G=+<BMB=CA!
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M9C!H.5,U9G!()B-X03MJ-F8Q:41J*VEU6"]!0S@K:%0V;"LS>'`X5DU643<O
M.'%(.658*S=R-DHY8C`O<C-O.&9Q=SE3=D0Y,38S,6%N<68W<S0P-5E64G0O
M)B-X03LO=T%Q8RMU-FPY62\S="MU2#8Q-F8Q-S%0<EA+5#%F<3-P-R]!1R]6
M.6(V=CA.95A0=FEQ968X04]I9F]I,S56+U)0-E%S=G%F4#9Z)B-X03LV4#%Q
M<U`Q3#!E6'<K;%@P=4A(.3%8,W)G5D519C14*W1A1"]!2#,Q>C9V8R]O6#9X
M.6(Y8C`K2V973UAR9DAZ-#AF-S,T*W1/*TMO)B-X03M05%`K5F9F-%%V4'$O
M=T1Y:3,Q2U`V,3EA*W,O5B]Q9C%695!(-GHK>C9.3V9$9FQ8;#AD8U98959F
M.$%"2#%O9F]0-GHY8CE38C9X)B-X03LV,S$O,696.4](;#EC*W,O1GHY3#!V
M4SEF9F@O9#=6>%9L=4MU>%8R2W5X5C)+=7A6,DMU>%8R2W5X5C)+=7A6,DMU
M>%8R2W5X5C)+)B-X03MU>%8R2W5X5C)+=7A6,DMU>%8R2W8O+UHB+SX*("`@
M(#PO<F1F.D%L=#X*("`@/"]X;7`Z5&AU;6)N86EL<SX*("`@/&1C.G1I=&QE
M/@H@("`@/')D9CI!;'0^"B`@("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A
M=6QT(CY"0U\T-#PO<F1F.FQI/@H@("`@/"]R9&8Z06QT/@H@("`\+V1C.G1I
M=&QE/@H@("`\9&,Z8W)E871O<CX*("`@(#QR9&8Z4V5Q/@H@("`@(#QR9&8Z
M;&D^<G(Q,C$P,C4\+W)D9CIL:3X*("`@(#PO<F1F.E-E<3X*("`@/"]D8SIC
M<F5A=&]R/@H@("`\>&UP5%!G.DUA>%!A9V53:7IE"B`@("!S=$1I;3IW/2(X
M+C4P,#`P,"(*("`@('-T1&EM.F@](C$Q+C`P,#`P,"(*("`@('-T1&EM.G5N
M:70](DEN8VAE<R(O/@H@("`\>&UP5%!G.D9O;G1S/@H@("`@/')D9CI"86<^
M"B`@("`@/')D9CIL:0H@("`@("!S=$9N=#IF;VYT3F%M93TB07)I86Q-5"U)
M=&%L:6,B"B`@("`@('-T1FYT.F9O;G1&86UI;'D](D%R:6%L($U4(@H@("`@
M("!S=$9N=#IF;VYT1F%C93TB271A;&EC(@H@("`@("!S=$9N=#IF;VYT5'EP
M93TB5'EP92`Q(@H@("`@("!S=$9N=#IV97)S:6]N4W1R:6YG/2(P,#$N,#`S
M(@H@("`@("!S=$9N=#IC;VUP;W-I=&4](D9A;'-E(@H@("`@("!S=$9N=#IF
M;VYT1FEL94YA;64](F%R:6E?7U\N4$9".R!A<FEI7U]?+E!&32(O/@H@("`@
M(#QR9&8Z;&D*("`@("`@<W1&;G0Z9F]N=$YA;64](E1I;65S+5)O;6%N(@H@
M("`@("!S=$9N=#IF;VYT1F%M:6QY/2)4:6UE<R(*("`@("`@<W1&;G0Z9F]N
M=$9A8V4](E)O;6%N(@H@("`@("!S=$9N=#IF;VYT5'EP93TB5'EP92`Q(@H@
M("`@("!S=$9N=#IV97)S:6]N4W1R:6YG/2(P,#$N,#`P(@H@("`@("!S=$9N
M=#IC;VUP;W-I=&4](D9A;'-E(@H@("`@("!S=$9N=#IF;VYT1FEL94YA;64]
M(E1)4E]?7U\N4$9".R!425)?7U]?+E!&32(O/@H@("`@(#QR9&8Z;&D*("`@
M("`@<W1&;G0Z9F]N=$YA;64](E1I;65S+4)O;&0B"B`@("`@('-T1FYT.F9O
M;G1&86UI;'D](E1I;65S(@H@("`@("!S=$9N=#IF;VYT1F%C93TB0F]L9"(*
M("`@("`@<W1&;G0Z9F]N=%1Y<&4](E1Y<&4@,2(*("`@("`@<W1&;G0Z=F5R
M<VEO;E-T<FEN9STB,#`Q+C`P,"(*("`@("`@<W1&;G0Z8V]M<&]S:71E/2)&
M86QS92(*("`@("`@<W1&;G0Z9F]N=$9I;&5.86UE/2)424)?7U]?+E!&0CL@
M5$E"7U]?7RY01DTB+SX*("`@(#PO<F1F.D)A9SX*("`@/"]X;7!44&<Z1F]N
M=',^"B`@(#QX;7!44&<Z4&QA=&5.86UE<SX*("`@(#QR9&8Z4V5Q/@H@("`@
M(#QR9&8Z;&D^0FQA8VL\+W)D9CIL:3X*("`@(#PO<F1F.E-E<3X*("`@/"]X
M;7!44&<Z4&QA=&5.86UE<SX*("`@/'AM<%109SI3=V%T8VA'<F]U<',^"B`@
M("`\<F1F.E-E<3X*("`@("`\<F1F.FQI"B`@("`@('AM<$<Z9W)O=7!.86UE
M/2)$969A=6QT(%-W871C:"!'<F]U<"(*("`@("`@>&UP1SIG<F]U<%1Y<&4]
M(C`B+SX*("`@(#PO<F1F.E-E<3X*("`@/"]X;7!44&<Z4W=A=&-H1W)O=7!S
M/@H@("`\>&UP34TZ1&5R:79E9$9R;VT*("`@('-T4F5F.FEN<W1A;F-E240]
M(G5U:60Z-&(W938U,V8M,6(W8RTT8S8T+3AD,#0M.6)E9F4P8S5E,3`U(@H@
M("`@<W12968Z9&]C=6UE;G1)1#TB>&UP+F1I9#HR03!"-T)$,T-%135%-#$Q
M.4(W-T4U0S0S0C`T1C<Y,R(*("`@('-T4F5F.F]R:6=I;F%L1&]C=6UE;G1)
M1#TB>&UP+F1I9#HT-C$X-C4W03@P041%,C$Q0D0Y044R-C(W-S-%,4$W1B(*
M("`@('-T4F5F.G)E;F1I=&EO;D-L87-S/2)D969A=6QT(B\^"B`@(#QX;7!-
M33I(:7-T;W)Y/@H@("`@/')D9CI397$^"B`@("`@/')D9CIL:0H@("`@("!S
M=$5V=#IA8W1I;VX](G-A=F5D(@H@("`@("!S=$5V=#II;G-T86YC94E$/2)X
M;7`N:6ED.C0V,3@V-3=!.#!!1$4R,3%"1#E!13(V,C<W,T4Q03=&(@H@("`@
M("!S=$5V=#IW:&5N/2(R,#$S+3`T+3(U5#$S.C0W.C$Q*S`U.C,P(@H@("`@
M("!S=$5V=#IS;V9T=V%R94%G96YT/2)!9&]B92!);&QU<W1R871O<B!#4S8@
M*%=I;F1O=W,I(@H@("`@("!S=$5V=#IC:&%N9V5D/2(O(B\^"B`@("`@/')D
M9CIL:0H@("`@("!S=$5V=#IA8W1I;VX](G-A=F5D(@H@("`@("!S=$5V=#II
M;G-T86YC94E$/2)X;7`N:6ED.C)#,$(W0D0S0T5%-44T,3$Y0C<W135#-#-"
M,#1&-SDS(@H@("`@("!S=$5V=#IW:&5N/2(R,#$U+3`T+3$X5#(P.C$U.C,T
M*S`U.C,P(@H@("`@("!S=$5V=#IS;V9T=V%R94%G96YT/2)!9&]B92!);&QU
M<W1R871O<B!#4S8@*%=I;F1O=W,I(@H@("`@("!S=$5V=#IC:&%N9V5D/2(O
M(B\^"B`@("`\+W)D9CI397$^"B`@(#PO>&UP34TZ2&ES=&]R>3X*("`@/$5X
M=&5N<VES1F]N=%-E;G-E.G-L=6<^"B`@("`\<F1F.D)A9SX*("`@("`\<F1F
M.FQI"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.D9O;G1+:6YD/2)/<&5N5'EP
M92`M(%14(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I&86UI;'D](D%R:6%L
M(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I/=71L:6YE1FEL95-I>F4](C`B
M"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.D9O=6YD<GD](DUO;F]T>7!E(%1Y
M<&]G<F%P:'DB"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.E9E<G-I;VX](C4N
M,3`B"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.DME<FYI;F=#:&5C:W-U;3TB
M,"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z1F]N=%-E;G-E7S$N,E]#:&5C
M:W-U;3TB,C4Y,#DT-3@U,"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z0VAE
M8VMS=6T](C(U.3`Y-#4X-3`B"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.E!O
M<W138W)I<'1.86UE/2)!<FEA;$U4(B\^"B`@("`@/')D9CIL:0H@("`@("!%
M>'1E;G-I<T9O;G1396YS93I0;W-T4V-R:7!T3F%M93TB5&EM97,M0F]L9"(O
M/@H@("`@(#QR9&8Z;&D*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z4&]S=%-C
M<FEP=$YA;64](E1I;65S+5)O;6%N(B\^"B`@("`\+W)D9CI"86<^"B`@(#PO
M17AT96YS:7-&;VYT4V5N<V4Z<VQU9SX*("`\+W)D9CI$97-C<FEP=&EO;CX*
M(#PO<F1F.E)$1CX*/"]X.GAM<&UE=&$^"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"CP_>'!A8VME="!E;F0](G<B/S[_VP!#``$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0'_VP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1
M"`#T`2<#`1$``A$!`Q$!_\0`'P`!``$$`P$!`0````````````8%!P@)`00*
M`P(+_\0`61```0,$`0`#"@@)"`8&"P``!0,$!@`!`@<("1$4$A,5%AE6E9?4
MUQ@A,397=K6V%S=3575WD]+5(CA!69*4UM@*)"4U8;0C,E%8EK<G.4=B<71X
M@9'$Q__$`!@!`0$!`0$````````````````!`P($_\0`.!$``@$!!`D#`@4#
M!0$!``````$1`A(A,5%!87&!D:&QT?`#,L%"4B)R@]+A,[+Q$V*"DJ(C4__:
M``P#`0`"$0,1`#\`]_%`*`4`H#0GS2VWS2U]S%V[QNU-MR9M'G+CAV\FW`O%
MN$@F0W7')G2TN&L]P19)V2@QC$T%>Z].`-G%<)TL8;MQ;20`0"HE^0$6S&E*
MIA-K"K\6-Z>&E9/7@7$XU](D1EVA>)N\23&7S*0\U9?IGCGJZ!2%XUBL6"[7
MC6GY!*=]2\_(\8D].!VHV>Q#:4'+X)!CJ9,SKL#E&P;!H>-E4!'3#J7VRWQA
M+FN-^!TX5TL)[DR-Q#<==`R?'"2<0HQR>(;!+[%A@(GJ:*S60;EUB5>J14['
M"K"6R76FP]2DU410]R2$3`"H@7;JX9=P!?`Z(EMX-J(=[23W3.XPXB_2J<AM
MC\?N'`J(&G[?:`&6=#VRY9;F((P-E>?$.=9:/D)3"H_K>^N"8"XDU!U'KV1R
ML"2@#Z+F#XL?#1Z]F1)V-'3H2;R_^EE7_3,7SFM>%YG:*Z6Q!_R(:<8GN@7@
M;9JV]=R<=7S9]L5SX.#['@(P!+-6I$7F&MKX)A>0FN#!#8^OBB5E.Q1>*2=4
MTV1<CK(*CBS=,Z$\,W#X/JC"+:'2O;<:\;.6L&U.^FKGD?KJ"])!N]OM28D=
M8(--0P3BOR$5U)'&D7%,=/+1G96*<H,#`,:CDHBHTBO"`Q`O+I<H>68-G0[5
M"FF<'84*;[2F^^[R%B;2>,G/G\/VU"NGP>IMAFF&O)&]U/L;<Z(M[XLB-I1G
M2NK-MDU9"@UCK>.`(Q)L=A/(U&2&$I4-/I5'UV^4-'Q\P"-NQPZ82<XJ8U-M
M?!@:^WKTD$]Y\\YM'\<YZ7E<>X\<I.!S4)'Y>#T"/U3!M!;:TRTV3R"&3@P\
MC0?;9W%YF]7O"5(80/3I@^;C&N+NPJQ51<=139I;TTU83,IM)Y>8&2&LNE3D
M6QH[I*1J<7G\;&\E=]2#C=H\F\W"#(!I#LR`S3D%&]F6E*C"'9GX;&HL&T"^
MD`PQG&C#N4N9<%",1+3L!DHS$=,-WX)-W:'9B/\`MJTF(<[Z90]R/@FM)%Q$
M#2?60X+NGHVV^Y95+G$27+HC^7V\7$,.:<%PXM"Y>.D;!**QN2-9#L(=)(D^
M&O2`%S#O"%[D'0X541-K*N,?I6.CAQ,B)-TUVNX`V.F)_I.3BXW&DND+Q+/X
M_+F,C)Y$.CXG,9@DI9#1#F.@476.SR4M#YQ%VZ*CDA'=.L9#BV;M^VJ`O3;P
M:^G_`-)](O)YMGG3R1C&[-&:C=:,C&MQ6U=5\SMDNS^>UA,O)FX_QVUSK201
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MW]-US>$W8XQ*G86[XY=*!&MOO-:ZFU>#WOR%?2"":SG$UVZ^@+2'SJ#`-[[4
MVQKV/OYE`XW#582.)Z8(Z^=L-T$5W$.B@E%G<K$&4KNF0!,7GD%=.+N4.(F;
MTD\=<RL=Q8W@9TNTEG.A-&C=M0K9>[=EA>/NG=P<G=LQ2)(H6C@?<)K<S4?,
ML8C!X8UBV0"(,-58/Y^]4>PAH,&'AZT:92HDQ/#V$5Z3U%=&+4)-PEG"6>V[
M'7!D`]Z2#=DK9\!93"./(.(ZXYN;FTV'B<OF>T!AM8OJG9_'N;[\RR8"8J!?
MO8S/0"42M%9BQ.M'04<24Q;Q,O+FQ)>1Q:DLK\2F^E/#-..&7P=&)=+\(V7#
M=*RB$\<]E8BN5&T]::DXXRV1OR$3@,L,['DV\!;ZTFFS^`D4(S(-=Q'1Y*=2
MT)&0.S&B>$OA\>%ERQ;.0I@0L8WX)MZHC7?+=V&98_X8W*-QT!.Q.8RFVR;#
MDY%(3OB0,-FH1;6JSM,GK[D;L"$1])U&580IKYV@WBP$:#=VPB"-GR3?)_E?
M`HLH^R%LK_45,7?ANOTTIO7B3R,<O^<?'E[:3;TUR0W+JGDIO?BEH?AF,E4K
MTW`-K6E.T-#R&2;/D4X>ZPC[^(M]9+[1C-FL/Q/M&FQ!P=\8?$F#YJW"#%A(
MI>#B*6ZKG%SNB;].FXG<@Z7!['H9R6F+CB?LEPAQ-#;-8;IQ9R*[X)$-K:?T
MAK+=<VU^6FXV&OX4@*=)SPW!(3+VQQ\YE4NAMUU8F%BTG`R%4+&%Z_%$;&XG
MYC+3-Q^XKTL[H]MP%J,UQW7CCHWR6A_&!:0,]L,SB(Z6[7XM+<J=5'4F.6O!
M^;P4[BC9Q'=@X9J(*0R09,\XY;9(Y9TNR"S=*?TNK#0JK/\`CG!CKI+IF\P7
M'#7<BF6O)WM<RWXS<4M[G)S*YC!P,ME0SD[RO,<4!Z)01"=:@(>SD45E(_&1
M/T@PL<(*1JZ>"*C<SBM@N+8EW0KZDE?HIM="\4MZ8LA'9G/(>PXR7+91+8?.
M_5HPDON=N,1-RK@3`Q.TY^X>M[:R(+!(Y-((25M$22-S15*8M;`#`!D#<6F"
M0EC7HI>'W1'-WERN5W-^?):7Z-R5Z.P?:]9=(5R(XNZ](SLH,"&CFJ-:[LB#
MO91)$6W*M#42_"09#CDX;'G9L6=!,7[\B2P&D73,>EF(J?=/TIO;#2^3`3I`
M.>G+7CHVZ4356L-JGDG?%Z(\%MPZ6VU>+:X.RF%M^1&X(EK.>Z=FGC##"<1E
M3,@.<&I+!B1L`G,&#5T]P(R`PF/8.6T=W+FX.E2FJ'G:35^A8Y[>AF!R4F7-
M^W'63S#CEMW:$)Y`+[(GCZ%:4VQ$>/4JE.`G1@KDJ^M!R*,3A#L8\B?)AKH@
M:O$RC4@\-"7QM\J`V"J.Q[&+H2IF]*+I:;B^S_;/\%F%.DSV=M3DGP_VOI<A
M-SG%+;?"7E/R$PT)#(K#"\TW+-M&0+7DKQ`##AN-K2IO(V4RF<BTZC&01@"R
M=3:"N7#AT^9$\$T@LPJD[FJJ5+G!SRNF;[L#;IQ&Y01+EWJ-/;T+N&Q#*2,O
M&5&PDP;(N1I8$BPL:"R07*X=K^8Q"5@BCIT%/1.60\*7'O&%W:2;P00%DGHX
M:AQYR;G:9/T(*`UX_#LVA_5F=(=Z$X??YQJ'5E??3PK_`&CX=FT/ZLSI#O0G
M#[_.-065]]/"O]H^'9M#^K,Z0[T)P^_SC4%E??3PK_:/AV;0_JS.D.]"</O\
MXU!97WT\*_VD<(<O).5DL<F1/HK.?#^51!H?81:0.XOPW7+1]G*<!J4C;B'B
MG,/)9BF;2#C$B79\L+NDF2"2E[IXWQN$+[Z?_?[2"%]XC#<0CT#>]$5SL2BL
M0E&$WAPP5'.(0'.'3+`@5*8RN'D@?,P<5BLB[:=.9Y&`#X<0S0-F&>;C)D4?
M-UQ8CZZ<L*OVD5C<Y@,-?/",/Z'#G'%'+[3HKCZOC&H_Q*`M,-+`L7U@FMV8
MX5S2:#QT8#*%2KD2R'M6UQSXL6(,U$7Q-^X<!_SI=\WVW?G[>.>D@:8G02.<
M5R0Z$?F@AC"1NL1,80;QSB@@S&--)D7Q33F=V2/-?!F](:I=$R.&N2Q%!V5A
M3!\[%1QZ.%N%6>8?J+3]^G'Z=.DOSER(1REV4]RZ(KG#E-<YPUV5E*<H5PQR
M.Y3YEK1WIMG+;DK\P;N?#;35;]]`FSSOG=H1IZ[&I=RDX6[L2/\`?3E]>$S'
MMSOVWE@S`70,@&.0YKH2.:A(<^7VBL30=`>*F>1G#=A)B;VVP../AM6<G`VP
MI`,'2:4@BZST*5E+%I)UV%S[=(CB+^HM'WZ,/IT*Y:KBZ$+VA$M=;"+;5@_0
M]<YHOL`\)`!S<C$1SB,V<%F\7CR$1C[TBTMS/N->2`7$FJ$5;RE=EG)?%I.P
M!0MF)O=I<(FYUT\*_P!I6H9O-IKS8>T-L0OHF>D!`;&W4Z#/=KRQHRXJJ%)Z
M[C;&XJ-.9%=US77;O5HT(O<+&\[H8Y``G^Q0]V0O_5*"+DK=,*8]]TX_214/
M/(1']=@M4!.A\YYBH%%9R^V;$@C$?Q8;*P_89,J7.$YK#S*?-K$]$Y,1+R&1
MD"!B.E!KUZYDLE4<JJ^,1KMP1_OIR^O##[2&D&VB";F.NE^A#YAMO%,+K./Q
M]F)A7#\$)'B]+E')G42?@0)S-'AW3O6))\0<0(H]8N"D3L2)H!'C)N2?).`_
M45\S[]./TZ=.>X^W5H[.3R.8+]"-S$>GY<MMQ:2.24*X?$V9;\/B+9'=:#@,
M0YF.0N++:?9$EYR/0'I,9$^R<$23==^\=N5P_46C"VL,/IT:#MID=2IC-<"?
M(R\YUFNHA,P`ZV6=C.+3TI$`L\!B(U*A(LX[YN+FK#R0&.QH6FT</UT!C6,1
M?`3@QO&P>3`,_P`=-][]_P"T[L=D&K(DM"EXUT,/-H)GKL;!Q,-Q'QOB2@@%
M::P8R09J_)-MCS2[.\?:P'S"3LM:E2*3LIK]L;?I1!X&P6ZK!^HK_P`^G'Z=
M.G/2=_5$V@.C3@*2:EZ'3G7!3<9@+_5D??!1'%/',1KDG,7VP7T,8I.N:[EN
M@`<3<D_E&;#%'O5C3M=[A;%7.]Z")^NG/"O]I1I*3U!,&\\9R;H5^:1=ELQC
M*ADU8.8KQ&L/+#9[*ADZV"/18(\T$V@9EL6:A1,MV*U!(C$)_(QS0U,,#1!'
M!Q8/U*;OSSEC9T+#+076DG(5W,5H.Y/]%MTCJI/6R+]"#2%H_P"-P:3QG`H,
M;ARN3"5`N<+&2V6+BFJ0XJX6)+.";3)=!^JNFZ=66$A??3PJ_:0)O)M8LI/"
M9H,Z&WFH%E6NH6GKN'G0,5XF@"`J$MRRTA8QQ58-S(8^%AXF3.',L"8FK$50
M<O<N98'592-PL3S%BZ+=,8X5XY^TH\-7TOKTK`C<*Z%SF9&R>LH=^#R%.!D4
MXGI8BH(F?(2IA$'+?+F5FV.1T')BI$_&!!]$HRBIAXN1C:(MUEWVP?J*^^^W
M^WCF?,/EI6/QB&PL-T+G,YA$]=;!9[1U_'DHQQ3N*@\S'H'VK%[$6BG,W-*.
M"6K.5RADA%`]F<238R0\RQ!V:EWZ3@,W_J4R[G[[]OX;_'B&N6EF`%]&!O0O
M\TA0)WL1GMILP$1WBN)QC>R&!Y_*&<N@JPWF>U<Z\+-Y$6,&4\X(M'4?"!HV
MYNC=0R3N[#_G3A'UX?\`7S<2*TOUSAH9[Q>1Z'7FVUX]DL"*3_43*-\46,*>
M-C!U>3EV3D4SYE(8+#RTA=.C),?GG=D0(.7+EV@LHNK?,-,_ZE,Y_CRC[<B5
M2?=`V:!-71V5=%!S]/"-*RB,3;5C8BTXPKJ0N7PMBY&123"7E^:5GWAR/CWK
MUD,).W+ETV;O':6"G<N5[*!$3^.F^YW58?\`0@\J.:JFQW;$DE'0U\UBQ?>H
M1./[A7SC?%-LWV*.P#)QK+*4CF7,QL-)DW$72QBCXXJS\-D(G=2+OB+@`LL.
MS#+_`.E-V'ONV?A_P[SH)/-2('4).CT.?.I*1-9Q&-F-CB;7C7B51V%"X,IK
M**31-];FU9QC)0.NU5(0-+V4[:A%\\@EE;C[]XH/U%I^_3>U[<)OC`BB\3XW
M*B(N"6Z$/F(H$AL.!:]C8FT4XKY,!T(BVP5=KQ6+W:8<SN]/0T4V*LYEL6:$
M,'2<:+/'N83L"3YVDL%__P"B_P#>S[>.97G2FEWQ!^6=]#/SE<$RD@W!*R#Y
M01QKR<O)+R!CB$0W8;75^&IW69+9\8;(`YBZZ^^&1R6+=S?+&U!^I3H^_1A]
M.@NH_P!WA2FJ8YH\ET2'.I_JF'#XB-B$,>13B>Y'11#7Z@Y:!+QEPMS"S(@2
MD'<"!+N'&A3UH8C#T6->A'S%VQ:K)!%\VZ9QF*_VD$E,EUA.85/M>S3H=^=D
MLBFUY*!F&U&<D$<9S1#9\DBEA>,5*;&D)'FBXD<Y5BV(,#A&D926*M8^F``)
MB$&:8,5BS#)KU$HPBVHV?A\EDH';<$"Y1:;M>BMZ1W.9^'X_)EI8^)Z&*R1X
M8BH<_'HXJ2-E.<3PD49AP4KE(9B((N70A(9)#['L-VQ@BFX$A??3PJ_;J(N8
MD>K#KZ)$2'0X<X;.('`);JN%XCHYQ>"LXMKN>M%F$WB`(<&YF,!XT++VJUTI
M(V;-4_#7>6:A#)PJP99MQ?U*;_SZ,/IT:,MY>:#\JC6MQI(5#.BYZ0@0W-'R
MLJ.+YB.+10J?DQM7!0K()`<,<QB!HZ9>V1;H*DBS]X[LS:,6":N#)BT;HB0G
M]=/"O]I,_AV;+_JT^D,_\.\2_P#-Y065]]/"O]I^T^=.RE,[87Z-?I"4K7Z_
MY:D=XF]QCU6O?X^XY<YY?'U=5NK&_P`=[=?5;KO8(7W4_P#K]IL)H<B@%`*`
M4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0$8E$VAD';L'
M<TET8B#4J_L+&.90?%1]N1)W:N7UAS!8L[:)O']V3)X[LS;Y*.+M6CEQ9/O2
M"N>`'`R;PLVPCQ4-+XN7%RY\Z%Q0D,/B7["3DF+,N0>CH\\:NU6YI\S81\^^
M=-!JCEPW9@R[E5/!$:]S1""CRO;&K((^\&3C9>OX:2N-Q,V'2N91V//O`^;K
M-C@5[(7),W'@W-\GFSQ?=[[+DZPS;V5NMC?"P04_#=VEU)B[UVGM[5ZFP&!9
MD!?07"?Q3.8LCI%FL1'A7<8Q+7-MBS\>W</F0Y9C@\=,T%G2".:"6>>(0\8N
MS+H4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`
MH!0&MS?.H=O-.D$XM\K@T9-[2TYKS1F^-.26&1Q\!M(=:S?91B"'0NVA`"1F
MP:!YD<$Q%YKV2*`7+F2AT'8AS@*?`7)UX('2:LM8.4YS2F[Y6C88]<ZN/_)G
M942U_-^+6FW,(G?$'8T!Y+:&U;<YKT$SVMM:1;&D+S<,,)%1^T6,/CB!75IJ
M3QV0O#J>0C,AM*7MP)4NBW2**BTM*4\*DTW?<M#P>G1&A$;F&HN96MI3TGNQ
M8%Q^C^^)9S'%<?Y'HR'[8<Q,U"G@,-JX?K*=\:MQM6NSXNA$4(3FK*3K8LPD
M1'7IQE)G[L4<,21V4$+A-+L)N(E-J<Y3P_F[1<8W;XX4<T)3SGW_`+Q0TH\V
M9H(YRLZ.C;!S7@R6:G@Y3?(#CIJI>+'IOK8V4V?E(8"6TQM7(1/6T#G!:*M]
MH15@0CN$ES5LDF8%55-E+!V:E-]TMN(6,J[4W.@]+F-^NUKWM?&][6O?'+JZ
M\>NW7U7[F][==ODOU7O;K^2][?'0S.:`4`H!0"@%`*`4`H!0"@%`*`4`H!0"
M@%`*`4`H!0"@%`*`4`H!0"@%`*`PWYT[4Y$Z5T%)]E\:P&KI9/(FC@2:0O9;
M*9EUMED5'C$;'=20,7"B01ZE/]EFB+>.Q4\_)/!8<VH/1?1DTU*+N@XM*3:3
MPS6C7N,)X3THDXF/(TUIO'5\8'BR$]YUZDAUG#XQD6$SOA#`^/TH-$)8<:KN
MQA:+S<GLR?-&%PP`2X&M(]$NX>E,SK]=B*Z;IU)\9(\]Z6QV.XL]'SM0BQT\
M*W#R]D'#9]L*'FI2J'!Z\U?R+V[%X!+91&P[X\E)SCL<.>RN\:<N'F0$/G&3
M,DES[-J(9QB4"V/Q5*^%:2UNE-KHOC5E=R*Y9;!3A,%V/PBD'&[D6$QWM!-1
M3B-#Y:]GIZ8%)!.(W'YE!X"=UO(KQZ$S774,*'-G2TO,L9(/CD5C1-_(8R,"
MM'Y]F(DK[4JZ5_,\#%;1_2=[9Y'RF7PJ$1S3^N71_2?)3>.KIMM!"8+1#7\0
MXT<RI[Q8DCS<+83(1SJ3*G!`&-3]%E'RFOD@BCJ1!719\V&MS"HKIB^]WTIJ
M5C53:NN>S!EY->\H><T@5Z/@S,M*:CC3;DHPQ:\A-2I);"QVQK!-#6\FEYW;
MPPB3?M`T+U]&)"RA,1+0:=`#$LPD.QXM%',F'2M\B+4$BG\5^&#SPNZWSH-K
M%#D4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`QU
MY$\5-*\JA45";K$S@R,A1IY(HXWANYMT:?R:&WPMP%6(NW.G-@P%T8<)B7C\
M>SN:7(X#FI,JD/P;8E"':14VL(WI/JF4(!PIXQ1:0E95&]6LP1XN"F$=5?B9
M%,&&8]AL*-ZUB,\<Q[!K(4DXN<F4=T_K4=)9+',1<A+^*K9X[)J/R!IT2"7T
MY3'5D=\GSPWSUKIK4;O14:*P7CZ2UT4T\R/%)7(#D*SU-)$9;K\:UFIN0$)L
M3C<?/(8.[1([(BD7)H9+##(<B+<.&2HMJJ6YO<SOQ_R5C=W"#C5R((Q`EM*%
M21[G!LS*D?'PS;FY=3QZRDB5&JGE#D6U-L"$1J69F+"!S8EG*Q)O)XP;6&KW
MS'J+-5!%4UA%^I/JB.R3H\^(DI'ST8_U<0%M-E*.;RK*&;.VWKI\HW?[3/[P
M,#`1;7\[C!:(A9%MZ3G-AR@)$WP03)Y,[1>R!F2Q&BDF(MIW7X87+*-]UUY3
M(ST<'$:(S/6L^"0K8V,EU$@*;P10IR1Y,2$(PQ"2<W-1JIJ)R'<!2)S)XC+Y
M&:DZK^:!)"^>'GZA5ZX</4T%D@M.(NO_`-M.S*ZZZXSFH<B@%`*`4`H!0"@%
M`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`
MH!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4!B/RXYLZ/X3QR(RK>#J4-14V-O8^
M#RB\>4D+C,@P8>$7%G2*;IK=NC9M?KP5OEEW6?\`(ZK?+52FY$;C$P0\OCT?
MWYWVWZM''\6KJP]7/L<VUKY=QY?'H_OSOMOU:./XM2P]7/L+:U\NX\OCT?WY
MWVWZM''\6I8>KGV%M:^7<>7QZ/[\[[;]6CC^+4L/5S["VM?+N/+X]']^=]M^
MK1Q_%J6'JY]A;6OEW)5!.F_X+[%F\-U]&RNTLY%.Y5'H:!P>Z\7:L\S4G+LP
M@O%VZN4SLV;9/GR%EU[X9V12OFI?'+N>JYT-7W>;@JT[K_-YM]K@[%`*`4`H
M!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0'F\_TD+\2'&_\`
M6K*?NCC7=&.[Y1Q7AO\`AGD2K4R,I]!Q/1<K@F\/PJ#9RTD@'74A,Z[FH&3C
M&(%AL))LV2UM!7$.7C)(C-"6Q9+F[&/4&!X6["1MB3DC9HLR"'"(V.;HSO*M
M,Y<_YOZE[=.\$3FU>/`7:$=(BS6Q]AEMG90F$/S2L?&B-=:9<P(1LN=E'EA3
MI,P:&E=E`UAL8S,1Z[4&)*G;82W-7``VCJAWX?+F.G-%5,K6\-BQZ^,R+)]%
MN-&3"=W\<&KK4NN<34%%354ZY'%]I[W$[NC'&MW$B#.T3(J:PB[+;DC9NG#W
M&/3/%I#EV:UI084+9&(W+6J_HHG.^[9W6>V.+F'HP6.F[EJ*G46-P:;S&$R4
M6D$D<.E4ABT@"H.;/$!!N/%W@DJ+1=V<O+.DA[]HNT3<V=NK+X)65[2OW7?<
MNSDNWQ'_`)UW&/\`^H72_P#YD1JH\'L?0JQ6U=3^E76!N*`4!B1R*YJ:/XPS
M/4$'V>=7'F-NRS*/,N\#BSM(`*M#-B2O&5$\F(UYBX&YO-?+QNS)EFJ5L1,L
M7=VEAJ+MRD.E2W>NOF9B)M'E9R_UYRDY*Z4A\)!;141X3F>1?%**/]<G(HVG
MFQHK.FD2D\:$SH7,S[>:1Z$,9MJ]QL`02:PB>DSTD;HP80F)(H9-0A64_P#<
MD[\)W:GI9=KCCRU,2[=9S1.SIL%.S04&P3#C8IJ"81==RHWD&PF3F83PI>03
M>-0UH?1@I&-Q"*&"D4E&,X@FZ(\3`NU(>V=8`U=*ZK5WX-/2;&*'(H!0"@%`
M*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`\[?\`I$D5E$JTMQV;Q>-GI(X:
M;0DZSI`"'(F%FR.<3QPP5<)#V[C-%///^1BHICCCEE_)M>]_BKNC'=\HXKPW
M_#/)S^![;?T6[&_\$2;^&5J9%[X!,.9FK(++M::\9;@B,'GJ11&8@0\#*()2
M%$R'RCY%,B\RCV9)7!<,HJ/PQQ>86;(+N.R]YS76SSC2</2BIM8,D,YVMS?V
M`^E3PXANC'"8]^Q--F<3DS>RN+T+"X^9N@ZP$]N9JR@7KN%)3-9BY;93!6/#
MEY%8AFAAW*$M`M/KSQ\X'14V5SE6-7D"[G>;@HI@\LY4<1(ZNU?KD)LPV40)
M$QBP+,85-O\`88H5.7QXBS=&GDM%#)"Y?JE1S-TBA9+R[H)>98DCJ_=9@@_+
M%M=[1)E2CQT1)DB$1ECQ^0(/5\W+Q\]=N!ZCAT[=N55%W+E=3-9=93-57/+/
M++*](7RXH:HVDRY2\:WKW6L_:,VF_M..G;MU#I$W;-6S?8D<57<.%U1V"2*"
M*6&:BJJF>*::>.6>>6..-[VCP>Q]"K%;5U/Z-E8&XH!0$9/PZ+RE_$"DA"LB
MQ"!2;*8PYT[PSR5C\HSC<CA^1H??'/&V#W*,RV2!KYYVSP[&8>8=QW66.>`$
M'UQH74>HWQ<EKV&,X^],D903<+=O,E>P+S:06E<P;1Q,V2))1,/)I/BG(3@"
M+)AP9(T@V)NQRKQLW63%;;Q/S&]!:=A\SQV%&8$'#3*T9CT04-L\GV*SL+$_
M&K&-W(-LW>;$D:#(SJ;-6,H(-7,G28R^3,/"]V1TF@Z"7$:,?."X(O!0@H!0
M"@%`*`4`H"P_)7D9KGBEJ&0[NVMD<QA,9>`F).\<%XF"W?Y$:8@!W9V&;IGB
MKAV\@W[_`)7<8=Z1[M2ULKX]S>I2X(W"DUB>7ZX"?E]S^KAO_B2NK#U<^QS;
M6OEW'E^N`GY?<_JX;_XDI8>KGV%M:^7<>7ZX"?E]S^KAO_B2EAZN?86UKY=Q
MY?K@)^7W/ZN&_P#B2EAZN?86UKY=QY?K@)^7W/ZN&_\`B2EAZN?86UKY=QY?
MK@)^7W/ZN&_^)*6'JY]A;6OEW-S,</,)3'@,G%]^N,D846>'7<)]Y<78%V*!
M!GW]*V6?>ENSN$^^I]WEW&?=8]UEU==^#LK5`*`4`H!0"@%`*`QFY,_[AC/Z
M7=?\G7=&.[Y1GZFC?\&'%:F95&(4H2;/G;%FHY0'-U7;S-/)/K1;(6QR<+V3
MRSQ553;X9X9N<D<%+-\,\,UNXPSQO>2O.^`CD?%(8068N2:3-QF/9JH(.7ED
M[]G27=7RLW1R4O\`R;JJWPS[A/'KRO;'++JM:U[U051O$I(Z?HBT`[S(@NS1
M?I-,L,4ELVCC&V;=;N5<L.JSC&^/>,,KV46OEABGAEEGC:\E*^1#R(_GADGE
MEAGCEAGAE?#/#.U\<L,L;WMECEC>UKXY8WM>U[7M:]KVO:]NNJ"0P[YW1;ZQ
MA/M-K4>#V/H58K:NIL]K`W%`*`4!9^1\@=)Q"63"#2K:$-CLJU[JU7=L\%&3
M34=E"]2H/GXY6?REXZR2'@8WB[%%,+/RCIKCDF.?N<,<FS1PLF+#R=[A;<MI
MV-<[RU3MI=5KKN8LY,\;!&,A(,FK(LT?!Q1,@3%#%3S$D/9.P#HD^"F$AXTT
MBP)OL!1%PU9JMF3A9,1J"[%`*`4`H!0"@%`*`U'].-_ZN#<?UDU+_P":$5KJ
MCW+?T9S7[7NZH\'];&)G_P!'7$)A)=U+E`NAXQOJ%Q0:D6VI%Y-!HS-KOX8I
MFNW4B$;\<>Z!QN6SE[=N+"REI9M(X[V1R<8DV8$9*$7G-6&,;_.&G#&#JE2\
M)S\T;=&.$DUXY\=#P)QRA:;7U"+4P?<'=R;9U4H4'C)<W9OD#J4;B4FAI=!8
MLBF_Q>CI6Q#NTU<2ZJHM5XWMCF@DXI4\(^Y)A+&[0X\X\#(,*PT7'-:<?(Q,
M]&R`;)[1-<&\BT@X]Z>=2^;2_:.A9_>"<@H+LT*FPDFV-4P;8+QF8ET2G9MZ
MVC"Q*%NEU%UX^R!ME[;OTZ&[KU=&<9;\1<HNT:4M*QUWY[D:\>;"6GVW)C8[
M/12L=<Z]'XP\8D]AZ;=*'$9>-@D98;))1!-G:P_&,$=BMY2]!W%_[&4'KH*@
M[8!\V.&-4Q?YER(XF[S/F8K52'].+2?XF=1_JQ@7W5$UYST%SJ`4`H!0"@%`
M*`4!C-R9_P!PQG]+NO\`DZ[HQW?*,_4T;_@PXK4S)E&C0\"T)K*9W=N"@XN%
M>"E1B&2>;-XPOBR=MB]W%W#95(C=-5TBD@C?)!OCCWQQ96Z:4:F,DYG9J\[U
M=_/-FD[^;\`*C\PCK$@Z?^%7\9=#72C+!#'),6D]5>X.[).7*:2N*Q&[=+LZ
MCM%6[;-2RV*>:>613<WD^J[;1H:UKY[E7SD49=2$"66)E&6,?C,;9-%4`R3_
M`#\/`6:#9-SDT6*,4\VB*R=W;>^:]\E<\4TW#;O62J>4AQ&<\WYW0F^<(C1-
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M20?(Q,W`IB2TRC$2N1=E%\B[#<<\M&@<QGR_;1S*B-,]OYG=?<;(*$%`*`4`
MH!0"@%`8(])+H=7DKQ'GVH$).G#E)$8@KO$^J'R.X-/`,R"G+IW&8$A&2_:K
M,+MK96?I=YNK96^*ML.]Y=4>Y;^C.:_:]W5'F6\B24_[Q[#U4N/>'6QB<VZ$
M@K?Y.1[&_P`5[_%JAS?XK6Z[W_&'\EK?'>_]%OCH#OO>A<DI-,>D]Y,MG*(@
M?@,&(Y:I<60'#L'+E[=JT1PV%BDW14?OGQ!Q9/#&[DB_>OW%U7CQRNJ!T+="
M05O\G(]C?K^3JU0Y_H^7_P!H?]%`+]"04M\5^1[&U_\`LOJAQ;_^AT!QY$DI
M_P!X]AZJ7'O#H#V2ZZ"WC6OH+',G-GF0"&Q@+D[LE="SJXH(Q8W<V0NHK=&R
M]T.^V2NJK=.V7<=\SZNZOYST*^\F5`*`4`H!0"@%`*`PMYI3X3`8M"WA9J1=
M)D#[]LEB.3;*9X9I#N^Y74LY=-<;8WQ^*U\<LK]?RVM;XZT]*EU-QH7R9^IH
MW_!KO^$=#?S/)O[L*_BU;V'JY]C,?".AOYGDW]V%?Q:EAZN?8#X1T-_,\F_N
MPK^+4L/5S[`?".AOYGDW]V%?Q:EAZN?8#X1T-_,\F_NPK^+4L/5S[`F&O-_Q
M(I/X,,0%2+!<C,(RQ1S5;C;)8*NS3)NGDK?`IGG9/'-2U\[XX9Y6QM>^..5^
MJUY50U34[L'TV%6*VKJ;LJ\IN*`4`H!0"@%`*`4`H!0"@%`*`LWOK\6A?_YP
M1]I-ZZH]RW]&<U^U[NJ,`ZV,2X6MW;P<<R(M3(L3BR3Q662*$T1:!>ULKV2%
M+9Y]:J[%QG?NR"..&263=+KRM9QV2]<U81#<Y*8\T%4S<TMK@KL3:OX^Z=O$
MY/%V[0B%<*]E5,HMV17`E@2&8-WS6Z7?UD1N>"[Q4?DAG_TV#1)'N,W&3AN=
M^ASFEA@\='DH+:L+[]NC/+<?+PTLV$:QP$R!J+*-TSC!^_2>-NT!T29R_>EG
M5\,\U6N%AM\;WRZL<K-K9(==NNZ=2)=5TX1C>TFA+NOPPU$"DQE20'RIA3-5
M3MSQ11+)?.ZBUFJ?4BSP5SO\>:B31-%//._QY987RO\`+724)+S60H54&TT+
M_N83^C&'_*I5YS=8+8NA4Z%%`*`4`H!0"@%`:T^DL^8VM/K85^Q[5OZ&-6Q=
M3/U-&_X-/=>DS%`*`4`H"XNG_P`;6KOUBPG[RC*YK]E7Y:NC*L5M74]-=>$W
M%`*`4`H!0"@%`*`4`H!0"@%`8R\OI.\A^B)0?8MVSETS(1K!-%W96Z&5G4@'
MM<[YV1424Z\<%LLL>YSM_*M;KZ[==K]^FIK2V]&<U^U[NJ-.'PCY7^8X]_8)
M>WUZK"U\NQB/A'RO\QQ[^P2]OI86OEV!S?DC+,K]>06/WOU6MUWQ)7OU8VMC
MC;XR'R8XVMC:WR6M:UK?%:G^FM?+L#CX1\K_`#''O[!+V^EA:^78#X1\K_,<
M>_L$O;Z6%KY=@/A'RO\`,<>_L$O;Z6%KY=@>@F)N<WD6C3Q3''%1U'PSG/'#
MK[C'-<<V5RQQ[J]\NYMEE>V/7>]^KJZ[WO\`'7C=S:UFZP6Q="05"B@%`*`4
M`H!0"@-:?26?,;6GUL*_8]JW]#&K8NIGZFC?\&GNO29B@%`*`4!<73_XVM7?
MK%A/WE&5S7[*ORU=&58K:NIZ:Z\)N*`4`H!0"@%`*`4`H!0"@%`*`Q`YU_S:
MIG^DXC]Z1-:>E_4IW_VLYK]KW=4:#J]AB*`4`H!0"@/41"/F7$/JN`^R6E>!
MXO:^INL%L70E%0HH!0"@%`*`4`H#6GTEGS&UI];"OV/:M_0QJV+J9^IHW_!I
M[KTF8H!0"@%`7%T_^-K5WZQ83]Y1E<U^RK\M71E6*VKJ>FNO";B@%`*`4`H!
M0"@%`*`4`H!0"@,0.=?\VJ9_I.(_>D36GI?U*=_]K.:_:]W5&@ZO88B@%`*`
M4`H#U$0CYEQ#ZK@/LEI7@>+VOJ;K!;%T)14**`4`H!0"@%`*`UI])9\QM:?6
MPK]CVK?T,:MBZF?J:-_P:>Z])F*`4`H!0%Q=/_C:U=^L6$_>497-?LJ_+5T9
M5BMJZGIKKPFXH!0"@%`*`4`H!0"@%`*`4`H#$#G7_-JF?Z3B/WI$UIZ7]2G?
M_:SFOVO=U1H.KV&(H!0"@%`*`]1$(^9<0^JX#[):5X'B]KZFZP6Q="45"B@%
M`*`4`H!0"@-:?26?,;6GUL*_8]JW]#&K8NIGZFC?\&GNO29E_7<'AP8'HN19
MAY)(+[#$R5\;`('V`Y1X0#S(G%VC8>6R"*X"!ZB0ZSYQFX9$%\;YJH7>(IY8
MO6W%IS6I2LM7QFIPF]R/'YL.[$==Z\E?(YGK@:_/$==%I@[$ARJ#MLS+.@^.
M"SAD[Q=K"W"#A%9)/#N'&#%M=ZT43=)=ENKC;&.JI>G:NM)7Y<F6%,:)C=)Q
MKZ%P*>1-$*W!2!E/B$HAL)&RUY)VN,85D\XE*R`]K>+I@KO.QL(LQ+.W3SQ@
MRSR?LD+7:88OT4L53J54RK,.J(OBE7W[6MS%V%\[;O-Y$=OZ\3UZ<8MQM^V1
MDLV(.(V<S=Y.'1UJ).$XZ_>OFV35CX*=XEA#U/,3BVSP8I=Y2P(F,;6*.NJ:
MK2UZ5DX3\9/$4G3_`.-K5WZQ83]Y1E*_95^6KHRK%;5U/377A-Q0"@,2.17-
M32'&&9Z@@^SC;E@7V[+,H\S[.-,/$@`JT,V)*\942R8"WN+@=F\U\M&[,6.:
MI:Q`RQ>9-+#4';E,=*EN]+#SY,=)ANKG/$=L<O&,&C^J]_P^&<;7.P]$Q0)%
M#<$+".0BSXZK%-#FI,^FYBVT%'T#0`3V<O0XN(F@OAR.M&H8.VFD;P5#\+2T
M.8=^C/5Q^21\=>6IV2[J):+VO-PAR:#8ZE<:.B>G9E%EWCC&4S`.XFLV(J2"
M:1^&!C:D54B\+C1HA%I5X]QK<D0-@G)'7#MVB#5R?5KIC_#3NF#8_0Y%`*`4
M`H!0"@%`8@<Z_P";5,_TG$?O2)K3TOZE._\`M9S7[7NZHT'5[#$RLU#K:#3.
M&0-Q(F2;1V;Y(177Y4TF^((+N(N1CKPBX$VPR>7'M57CRZ2";YNT1=)Y70OD
MKGW%[99U55)N'=_INJ+KFFK_`."K1MO?F\DC;3$4)[(U/:XETC%))!U#TP2:
MX$+!F,I12V"H#`+O\<\KC,Y9C$!W>!V3U!ZY[4]5'=[3S1[U+3LU?<JE&<-T
MR]TO8(PV7[;^V&DY3USKUJ;("GH4=@A+="#Y2#)$[2-!@'V<YU2-F[T8S,L'
MF(T5=EGDK)<V))D02NS?M!"EF3%P@IBM.)GVUP\+Z55'.Y8ZQ=MNYQ.C)_SF
M1WD)KF%0^/1XE#6*+:^4K.QN0-EW3CPU%S0F,PUR[A11/)9R/D&3!Z](&49>
M+<9)/4S>(Y5--%BQM=154W>_I35RAJ7?FLH>4AZ(\9BA6I#U$0CYEQ#ZK@/L
MEI7@>+VOJ;K!;%T)14**`4`H!0"@%`*`UI])9\QM:?6PK]CVK?T,:MBZF?J:
M-_P:>Z])F7!%[5GX7.-J"I&NP4B#,@/C"C=F-P4",RRBRI-`>IV*^:.)!9PY
M6=Y6O?-=5TZ54RR4<KY*<V:7-V..-^T%76W?LY=R*(*2I\H7"G2TD'F5L&RY
M)L8,L1HUVZ;++(*8-;]B%-$4K-DTLL>K/*^>5N\XHK%.6*B)<0A+^=Y`<)&<
M12;HMB3AFDT-9R)HFQOBQQ:&\\6^%B36S/%#L[E'%JA9KDCW&+2R?^JXH]UG
MW5A9:(W9`^D@DY^4N4'<@*.2:[5%5NUNO?#%)J@X?/"CA)LW1P3;M\'!(@_(
M.+(I8=_?/73M7NUW"JF1)+#S1T0)/I_\;6KOUBPG[RC*E?LJ_+5T95BMJZGI
MKKPFXH!0$:/PZ,2E_$2DA"LBQ"!27*8PYV[PRS5CTGSC<BA^1H??'+&R;W*,
MRV2!KYYVSQ[$8>8=SW6>.>(%D-9\/>,^G=M3??&MM01F+;CV2@=:SK8S;,J]
ME$F;R<\.D\@2)$2I)]GG@7/B!91]9/%/OSD>TO?^0@GAB*ZFTDW<L$36/Z#T
M]%9LGL>.P(,(FR<:"1)20,[O<'3T-&W$R=`?"B63O)H7,"%MC;!NPDI1N\DC
M=.=S)#`M9"3FTWP2XC1YV7`N_0@H!0"@%`*`4`H#$#G7_-JF?Z3B/WI$UIZ7
M]2G?_:SFOVO=U1H.KV&)4\39G`=8/@6)X";.,7EA>+]UB.L[QO;+%U9E96S:
MSC'*UKXKV2[[:]K7MEUTA8Q?F"H8R^3XH/F]CQ:^)-X*(/U<G[K-RZ=A+*V$
M+*N,U<EKYC[JY9-<K9VR2SQ2RQOUH(][D++/GB#JYR.0JLW@]0\948$7.+T@
MQS*/LV;YYBGBEB[>-LE[HNG.*6&"6*Z^&:MD\<<+9]SC:UD+)`ZSXL5)XM\"
M1,@0P9I]Z:8/GCEWBU2[A)/O;?%=12R"?>T4<.X2MCCW"26/5W*>-K6$L%`*
M?0'J(A'S+B'U7`?9+2O`\7M?4W6"V+H2BH44`H!0"@%`*`4!K3Z2SYC:T^MA
M7['M6_H8U;%U,_4T;_@T]UZ3,4`H!0"@+BZ?_&UJ[]8L)^\HRN:_95^6KHRK
M%;5U/377A-Q0"@%`*`4`H!0"@%`*`4`H!0&('.O^;5,_TG$?O2)K3TOZE._^
MUG-?M>[JC0=7L,10"@%`*`4!ZB(1\RXA]5P'V2TKP/%[7U-U@MBZ$HJ%%`*`
M4`H!0"@%`:T^DL^8VM/K85^Q[5OZ&-6Q=3/U-&_X-/=>DS%`*`4`H"XNG_QM
M:N_6+"?O*,KFOV5?EJZ,JQ6U=3TUUX3<4`H!0"@%`*`4`H!0"@%`*`4!B!SK
M_FU3/])Q'[TB:T]+^I3O_M9S7[7NZHT'5[#$4`H!0"@%`>HB$?,N(?5<!]DM
M*\#Q>U]3=8+8NA**A10"@%`*`4`H!0&M/I+/F-K3ZV%?L>U;^AC5L74S]31O
M^#3W7I,Q0"@%`*`N+I_\;6KOUBPG[RC*YK]E7Y:NC*L5M74]-=>$W%`*`4`H
M!0"@%`*`XRRQQQOEE>V..-KY9997M;''&UNN][WO\5K6M\=[W^*UOCO0$<\<
MHAYU1OTX,]JJP\GP9)6:XH>.40\ZHWZ<&>U4AY/@Q*S7%#QRB'G5&_3@SVJD
M/)\&)6:XH>.40\ZHWZ<&>U4AY/@Q*S7%&)'.&31M]QQF+9E(`;QQF2B=\&[4
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M<4/'*(>=4;].#/:J0\GP8E9KBCFTQB-_BM*HY>__``.#+_\`[5(>3X,2LUQ1
MSXWQ/SHCOIL;[32'D^#$K-<4/&^)^=$=]-C?::0\GP8E9KBAXWQ/SHCOIL;[
M32'D^#$K-<4/&^)^=$=]-C?::0\GP8E9KBC6_P!(^>!D81K?`>:$OLTY44R4
MP9D6;K)/&XBUK99XH+9WQQO?XK7RM:U[_%\M;^@FG5*B[Y.*VG$.<?@U%]H;
M_ET?VN'[U>@S':&_Y=']KA^]0#M#?\NC^UP_>H!VAO\`ET?VN'[U`.T-_P`N
MC^UP_>H"X6HWC1+:^L55739-)/84+444472P333PD@W+////+*V.&&&-KY99
M97M;&UKWO>UK5S7[:OROHRK%;4>E+QOB?G1'?38WVFO%#R?!FTK-<4/&^)^=
M$=]-C?::0\GP8E9KBAXWQ/SHCOIL;[32'D^#$K-<4/&^)^=$=]-C?::0\GP8
ME9KBCN,CX(FM=N--"2#BV&2MT&1%F[6LGC?&V2ETD%E,[88WRQMEGW/<VOEC
M:]^N]J0UBF)3P:*M4**`4`H#J$&:9%@]'K99X)/FCEFKFG?&RF";I'-#/).^
M6.6-L\<<[WQOECECW5K=>-[?%0$7#Z^AP82+$(QT(X1%#F0U)PZ#BU'2Z;%L
MDUP6<J8,\,<UU<4K9K9XX88Y*997MCC:]K6MIYOBR65DN"*CXH1/S7COH0;[
M-27F^+$+)<$/%")^:\=]"#?9J2\WQ8A9+@AXH1/S7COH0;[-27F^+$+)<$?C
MQ,A_FG&O00OV6H4>)D/\TXUZ"%^RT`\3(?YIQKT$+]EH!XF0_P`TXUZ"%^RT
M`\3(?YIQKT$+]EH!XF0_S3C7H(7[+0#Q,A_FG&O00OV6@'B9#_-.->@A?LM`
M/$R'^:<:]!"_9:`>)D/\TXUZ"%^RT`\3(?YIQKT$+]EH"B2#6$(D+!!@XCH9
MFFW-QHYBJQ#"$ELUXQ(Q4E;-<\LV*EKLWSD2DR(IVQMFL/<.44U$E,\5<'\\
M[A_'*\K?B9#_`#3C7H(7[+0#Q,A_FG&O00OV6@'B9#_-.->@A?LM`/$R'^:<
M:]!"_9:`>)D/\TXUZ"%^RT`\3(?YIQKT$+]EH!XF0_S3C7H(7[+0#Q,A_FG&
MO00OV6@'B9#_`#3C7H(7[+0#Q,A_FG&O00OV6@'B9#_-.->@A?LM`/$R'^:<
M:]!"_9:`>)D/\TXUZ"%^RT`\3(?YIQKT$+]EH!XF0_S3C7H(7[+0%/Q@$9;R
M4)*1XUF)(`V)L>E@+8#V2+M`[X,NX[9=!K@LK="XM')M;%;##&ZBM\\5.O#N
M&KS3W$7SE\DUH!0"@%`*`4`H!0"@%`*`L+R5>Z^'ZE.N=GQ:13J(]I'M7<(C
MD?F4J5E;P@X\'C!)>/P40>-D(]9\Z1?F<U!#\8,:L;F"395N.OAD*L<O-QK#
MUG#MQ`7,`"!#6U)K(8]/>!P?3T]EL?V&$=$>/L11L)Y-KED9VR;'A*#P8SW:
ME(4)SGE)GR![2_C"\*ER^NWCX7/7:G;-WQA=S*ML6_(13@;R;C&OH-MR6&2<
M^Z2I7M(,XX';+:"?PT[O*:3:1MO*RXJ6&X_*`Y>,EX\XB*AQZ7A@P5'XV)(#
MI>P?#PN;5Z7MV8*<.>^3<D,<NGHT>\?#EP[UVQ:.7@ATNS=.1;I=NFJX'.'(
M]=TP<+L5L\VRJ[%TY9K*)9*-EUD<L%,AR=Z@%`*`4`H!0"@%`*`4`H!0&"_/
M<5KV2ZE\3)IAL5L<FK:11C7\MU_$=NS!UJB4$!B=T=T)--2!#909*]:XI8%X
M"4628O59(LD!'%1+0X9*L15,SU:4ZK\3%!MC-64L3DFT@&UB@U#9/.,WR'9B
MXM.R1"7<>"4_'O.*\3N"`C^V2%T8@_X&(]&XPR;*.,F##<T>60:(-]HH)"Z-
M&"2VZ?GEJ.8[&=1MHWQGB+1UOIM,!&Y[;*@TR2U3RB50U/"&_)`WLO+1L96*
M0=LL.BQX2;PXR.EI@VC($OH\*X-%\1X.,PZ/N`SPB,U?=CCOTWW9FY:AR*`4
M`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"
M@%`*`4`H!0"@%`*`4`H!0"@%`*`4!;[;$H)0G6,_F`?%KF5C$0/G1V#U+-=G
MD]&#7#MMBZ1250450NJEC97#!9+++#KMBIA>_7:TJ:DLVEQ9'@]C-9FFN<>Y
M9]M2!PPXQ@Z8B2R0>)(9L`A-![BU=*=RI=LLJ><)IJ]7_5SS05QM?Y<+UO5Z
M5--+:=4I9KL9JJJ5?IU&6O('D4>X^;0U9>5-0=M&;'B^U(_F>1$$G<P%;UB,
M8SV-`8K@MXPLPSH+L>"Q?9[,4U5&M"*D[C,7C+(HZ=SE@W8^<V2G#'XPZQXF
M=$WRL:0L$ZB\MLU6VR`5':TF!^/@7"VIP'(@KHW\.`^".&KJ57F.`LC&5Q)$
M<_M=<2NE(`(1>6-)"0S:M0CACNF"V&C.=GCFGMY/809FN2U5JW6VY3`K6@EP
M]+AX%*^->M]R%"!,$2E+\Z8<$Y=)I7%H.UC8YTZ))A$V3MMVEF]+.!73>M<I
M3G,=FRYK_G?HH62A34@Z*("-A(ZR>Q&:I$H"0@9T3M>5S>%QLV'E@N<O11T.
MT/PMN@=?`%BJ8QM.M>ONI=I([K,A(?">43U*L<YI:EBQ,N%E8R=1@L$UD7VJ
M^'F08U!RE'P#+2KHTU630.N+L'PQUOR!B';PIV"-)$TI7C>0]BB1QZT".W7M
MT/P`YF0*3'!$;#Z\W6_./GKUF;8CH"F;P@J2$WVIK<<7G!*/FBP@-'#\YTS/
M0(>2(D'P+O8UK(2C\9$R#4\H$;.^#^2<<=N2<'Y+QHA*(0(EP-H/;P4AV*9#
MQ`\B\";)UI#]L0PXU2"'9"UQ8F(C-Q"N35X[:&AQ%$@/*BF2K=/)<&H\UQ\&
M0E""@,(L.14\R<8I7:1ON;K8IW_V>^Z^YOG;'Y?"G5U]7_#Y?Z*UL+7R[&-N
MK/DB;;\VMLB$;4XLZY@#B$,4-\;&V%!Y"5F,6/2E4,WB>C-E;8&OPS0+.83A
MWY8C`4A+Y%\NZP59$U%F^;5=KCW_`"-UIU=TBV6L^<0,HQ'!=H18@!G"6]IS
MQU+OHGBW)P-]-8?N9GI04=!NS!(>?4"S(Z:C3Q04S'R!]`G)9\$E!%5$)>0$
MA8RRG9J?E_(^87GC"40D,N6BVPY86DC#5R[DM%HA$HT(0=;FWB:X\Z]:KA)!
MMTN_'+%-IC&D:=XMC4B:#4BS"1D23./XEW80'3&7/*<M"?8Z8'G6"+3A_P!8
M`XY@I?4NEI-`8J*BRS_<)/9NQ-F\@H!)X(\:#Y.3BY!2/VTLJZQR%KHC6N+"
M2D+28X,4%J)B-1SV1"[E^]4<C@FWY:_B(+7&VXXN%@\*FTD(S^+BH5A%U-@`
M!,CC<-D4;-2-&?BYNHP($4R8=:'7:`WT9.,C)-BMF"L;!J/.:>#1D30A:C?$
MW+ZST=N;8\?28KGM?ZHV)-PB)1%9R,6+Q2(&#PU(BW;N&;A=BH]8(X.T4';5
M95O=3!)PAGEBKC5>TM9'<F]1Y;>-73K<R-O<B]"ZHE$4T$VC6S=S:QU_(7`:
M%31H70"3&:A8\56%NG6R7[5L138D5\V2[AB\01<V345:KX8Y)9=NA)-WX>:#
M-552K].HW6\G.:NR=#[QV'"1HJ&D(3`=2\7MHYY%8-/5\U6VZ-[[9U7/<IIM
M<7)DX#J6*0Z,:WPES::S4!B):75*I/$R>#3!.LIOC9SGL;I2M=^E:%.&+W$=
MVES[V3JEWS9@YF&PAYLO4L2-[)XIH8)GF03;4%#QI_:6^-;/(R[?.S>DI/'R
MTAVIA'"09%UKB0P5T*0$%RZUTZ$IC*4GM??X9&=H=()MO2Q\`SGP[6-PQN+<
M7MU(.QL/EJ"KOC_-<CXOEC)$EW.R7"#(IQNL"2V<7)KHN!337DBC098:<DA3
M%XF"I3PUZ5C]/'#;D96["Y(3>$Z7UQ-V8V)F)7OK>T$U5J5RN-,#(@'BVXMC
M*!]=S::,[2!\6(JCM9YMI<2"L2L;7E,I49PMLK#,ROA,6$7O4I>Y7KB=%WRV
MPUQL,]K#8#IOL^58;``0,6RU+KLO`U8V0(:3FF\R&$U<[8V'XJO&:<"US,)6
MS.Q&8E$.P-FH%X+;R-P.0,B1NNF]ZXT*<3ZY<_-,)N(TR5`[(2?3&'QC8489
MJ`X_94Q!)SI??V\X1*45+2O)JU9RF*<9=PBV8XBX9R`7)X\T828."'FQ)9V+
M9?QOE+Y6HD4!YHZVV%L$%`!D2V4*QDTKO``4R-B(PE#R$_RT'&>3;6&XJ#)@
M5DC4J_TM)?&UF]?1IK'<\P,A!JFT3S)L->B1=/D3$\=YE]0@H!0"@%`*`4`H
M!0"@(_+(R,F<8D$2-67N(DH@@$)V:J]X<W8DFRC1S9!?N<^]*]Z5R[VIW&7<
M9=67<WZNJJG#36*<\`U*@QFAO"?24$E0&8@4I5B9CA)N5&W=G[.6MG3;+NDN
M_H=B3[ZGU_\`6P[O'KM_3:NWZM;33B'J.%0E??YN,C9C!8=L$>,$S:-")0.#
M2J(3@2S,LTGB(V7P&2#)A#9&RLI:]VY:.28,,,#':5\5$';1._7DGDHGGF=D
M-/:%U))I(8EIF&,W,@/V1S,ODB!EA@1(-8H:@C0^X8CR34=E*V<+D!6*LI?B
MTQE#,`LW%M2Z3,<-2:`0H5Q$X]`BJ9X+`EA!Q*/+1-,R,F<^8E<(RX@45UFN
M"Q(M92D\L+6AD%A(Y5IW[O6;Z'Q>198WD@`47:BR_$LV_EE<*<8N/YP>*%&]
M3Q`RQ!M)XR%)%V&1/-DEM":A=C;"53</55W-WLNG4=#2HT246S(NS++%W=U;
M-9SWX)>?BN+>[9X<:SV$KL.3QJSV![3V*W>M3$[:G]B.F:[,\CJT5-AKB+`M
MA0]!HPGT5TY`(O*G</*0V49MXZ&/!9.%F`41(F0)[UEQU9OXP*Q`N)VM8EE%
MS1G*1R><QN-VB5Y6XV#M]3(I&VQ@M(`<>-)2C9TQ-2\'"SATT9UTVV5)I\0U
MR5+D7L)*@\W&&*03Y=VXQ$ES=6Z3UAI9B[&ZRC&,78/AL,#N6B1<\41R&Z]A
MX>`0YJE@;*$K-L`D/`!@263;O2CIJ.;*/\W3K&Z]Q&YQ\TEU*`4!8W'CWK_%
M2RMO#G=6SLI;K))]7=6R[KY.R?)U_P#&NK=6?)=CBPM?+L2/8.G-?[0+0<],
M1A=T;UL4,FX,7"3&:0XE&R\@CA.(F"+!Y#9"`<7=O(R:+A+K.%%LT1Y0@@WN
MC9VO=3DT3C_"?4@#OB1QX=.HF\3UPU%+0C$/:.XQN02V*-T5@&QFFW13XFSC
M)\2TD15MLUKE-\C$C0+%'4@)'WSMXOG)9#8F$OSA=E=D&G$GCZQ1&-VL"421
M#807`=AXWSI3L^.L]JK[N@?7DI)L\E\HUM1RM,6&;BZN=R&6+=QDN-3398!+
MZZ%I4,IZW#;CBN.6&?@_<H)*,8RP0>,9SL4<;%8PR?R3:43?Q^1,):V/QH]'
MI[,)3(A,ECY,9(62YXDT1*8CG.;.@E^)91T+M0W5,"U^8D9^)`U!9>6LXRQD
M3S,P=)9%$(>-4$1_)9(L3?-TW31BLM@X?-TD7I5=99\7</GRJCG(0N)0$2GT
M+#;(@DUUW(^UVCT]B4CA9ZX]?%J_\#2D.\!E.Q.<DEL6[OL+Y?LR^2*N**W<
M*724MCW%RNO#ON-5.LN@_P"%&I=D0#:<44W#>4:VFL7GL<L3G@]X-N=B!MC(
M!-B#3"+M\W3+MX]OVIO@NADLAW:>*R=\K9V[=;=UWF\Y5"3F\V$3OC%H_9LK
M/3.=PI22&I7&8A"Y8D]E,S3CLLA\"/GI3$HK*H:TD+>'R2.B)!*)&4Q"FP3X
M<\<FR?A!L[3>+89<'<M7;>>,9'UD'&?1TK\8<Y-`69]S)QVSPY,D7+2)^81#
M[G9`!NT1`(TY,*%HL*F@^+@&18;&'H=E=J,00;(-T\EL5`E].6&TK930^GS@
ML0'.P$$>8@M63#20JQU-P9=MM4;`:19C-X/<D3<.B3@+*VD)BB)W!T[6<$<0
M3#)RXSS3RRS$E_.\D<QUK`Y_#5=?2^+BC4.S\"Y(@U4<FS<<YC)!@8BY(*LQ
MS:NP)B+&10HU%C85PP+QLT+&%PCU@2'M'2($#8<:],#I(,F2<3>/9:)EV,Z;
M28W,)Q(CKB5):]-ZI0*%RI^2$GIZS374D/Q)DP.+$1K$49)8-&:*SM9;,67Y
MMGJ1QSP]XX.P(.-*:U;)"(QB!;1M-E))B.>QX-%HK.H+'(F#,,)$V,"8($A6
MS]CQ$;`&#]O"6D:G<M")`,1L@*-G(2UY/78=#3G%2%ZCG6QYNBO@<4E,^&S&
M""U\)#@QU<P%Z*U7H-`2':%9;(!1`TK$]7()N9RD)#25RPD1H"NLH,<.,703
M<EE=S;^<-YE-0@H!0"@%`*`4!KTOTJ7!C&]\;[;E'7:][7_]`G(N_P`=K]5_
MCMJ:]K__`!M?JH=6*LN:[G'E4^"_TN2CU!\C/=+06*LN:[CRJ?!?Z7)1Z@^1
MGNEH+%67-=QY5/@O]+DH]0?(SW2T%BK+FNY^L>E1X,97ZK;<DUK_`/O:%Y$X
M6_\`SEJ>UO\`[==!8JRYKN?ORIO!GZ79'ZBN0ONIH+%67-=QY4W@S]+LC]17
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M4TIKI-W/H9@;:$CY6Y=%**$0BZZ_#<WH:^<"Z&7.74PS'83691W8T`DNIH;N
M.>[+A\G#QQT=A\9T?`].[,F#YZ[B4LE$7)=JA>_-5E0>,>D9FSE:2*""&0LT
M&.#QPD/;,1OGL\>AT<>=$(>GBL<C>H-_S(F*>;00Q0BL,C#]R88Z+EN$$WB9
MC@MQ.61N0,=5S)]'XL79BA;D_+Y))&,=U6%V`=$2\;&@C9_G#CKWP=O5G._1
MV[)I+8)JO,Y.#D8;GG[%..O8$6O+!$1V`*UG,30@>PG+D['1L<DYL;E;/98B
M!.96`7O*(`VET>34)8@Z6L?)O7G$O'AM5^\Y'N=(#A+-<7'=),=JS(YFNMV\
M8_F<[(1'6HENVQMV>[,ZW@>UWCU=>_?K+1U@FUMW%WEZ#1.O_/P8R\@>>T=X
M_3;D5'C\+G1P)HKC=%=RXG8=JC<>P!A&9R++<KQS!I/)]?P:31#7R`H!KF)E
MUB,S,`TU&<^:O^_8#ACUPD*E,:W&C5KUF5<YE^QHAHR4SH3`$9UMN.ZO*24=
MJ\(6L/;RW8@Z,*D6L&$&G:3K)LB:DB6`(>_4;NU[8.$5;-G*]\45!ST+:<5=
MV2C=T;F!:1/]>FL(U*48XB6@PV=0HJT)>`A1<U$-E:>V@T0V+J'8$56*-L'L
M:EBRC\J!)Q^3ILQ*!C`:W%:CQ/@U<S*>A!0"@%`*`4`H!0"@%`*`4`H!0"@%
M`*`4`H!0"@%`*`4`H!0"@%`*`Q`><$^-9)8O8K%I:6$$E9^[&10EMC:SR&P<
MKM%V1?3D_K.*JS.X76TC*O"Y58;((6T"EXAB4)M82\C;(D0;.19?B7//>=<S
MP+XUR+#.YZ.34L[(IR]*6E7>W=K^&=C)3MQ`7$G0V:51F2+Z?L7N&K=>#&HR
M3K$18B-Q$)$`[)A$V282P2_$M'0F1/B/HLKG$,U8Z?990QS.UF-PT_GP.YIM
ML[88O;&P`\SN(DC+*;@9;L4*+E)L)*KE1SUR@Z'*M[@S!T63"7TRT7(JL`XR
M:JU@LLK"DYX(1R("7;`;?;&SWP4`."&2\@'Q*,!'\N<B8Y!+%CI)9Y"0[-G&
MB;*XT(3'/`("/#!03Y")K?4D)ML0EM5!L:9S@RC#61HJ/E<H'H&A.OV.P641
M`%Q+(N@()1P.IM&;%DX^\8K!W,A*(2)XR<&Q(A\Q$\\X%#/\?M3RAEMH>=C*
MK]IO([&I#L]+,X?3\97L2`Q&,A&M\T2::@L*B%A`)HZCX?-@%)7R,N"#!TZD
M1Y8B++NU8%3F&F('/]>E=83%O(ST5+G\)4KF[G$UPDPZ1LYZCLT`9CTV;'T)
MC&7\-F[08:@2T?.#;P3P(`'Q*P<6"%,F@D^<BDZQT#KW4;\B6B.<W4,GB)TU
M+#$GV5L&9$)K()`,@8%>0S-64R0LG)C8B.:UA\8B+\JDX4@\8'NH[#K`PQ@P
MR?BMM^+7W9>JA!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"@%`*`4`H!0"
&@%`*`__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>29
<FILENAME>g908770g66h94.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g66h94.jpg
M_]C_X``02D9)1@`!`0$#P`/```#_[1V\4&AO=&]S:&]P(#,N,``X0DE-!`0`
M`````%X<`5H``QLE1QP"```"```<`E``"')R,3<V,S8R'`(%`#U-:6-R;W-O
M9G0@5V]R9"`M(#(P,30@1')A9G0@,C`M1B!73%)++4-35$T@-"`Q-R`Q-2!#
M3$5!3BYD;V-X.$))300E```````0;\MO6!E@[X.+B@-)_.BL'3A"24T$.@``
M````Y0```!`````!```````+<')I;G1/=71P=70````%`````%!S=%-B;V]L
M`0````!);G1E96YU;0````!);G1E`````$-L<FT````/<')I;G13:7AT965N
M0FET8F]O;``````+<')I;G1E<DYA;65415A4`````0``````#W!R:6YT4')O
M;V93971U<$]B:F,````,`%``<@!O`&\`9@`@`%,`90!T`'4`<```````"G!R
M;V]F4V5T=7`````!`````$)L=&YE;G5M````#&)U:6QT:6Y0<F]O9@````EP
M<F]O9D--64L`.$))300[``````(M````$`````$``````!)P<FEN=$]U='!U
M=$]P=&EO;G,````7`````$-P=&YB;V]L``````!#;&)R8F]O;```````4F=S
M36)O;VP``````$-R;D-B;V]L``````!#;G1#8F]O;```````3&)L<V)O;VP`
M`````$YG='9B;V]L``````!%;6Q$8F]O;```````26YT<F)O;VP``````$)C
M:V=/8FIC`````0```````%)'0D,````#`````%)D("!D;W5B0&_@````````
M````1W)N(&1O=6)`;^````````````!";"`@9&]U8D!OX````````````$)R
M9%15;G1&(U)L=````````````````$)L9"!5;G1&(U)L=```````````````
M`%)S;'15;G1&(U!X;$!<N!"`````````"G9E8W1O<D1A=&%B;V]L`0````!0
M9U!S96YU;0````!09U!S`````%!G4$,`````3&5F=%5N=$8C4FQT````````
M````````5&]P(%5N=$8C4FQT````````````````4V-L(%5N=$8C4')C0%D`
M```````````08W)O<%=H96Y0<FEN=&EN9V)O;VP`````#F-R;W!296-T0F]T
M=&]M;&]N9P`````````,8W)O<%)E8W1,969T;&]N9P`````````-8W)O<%)E
M8W12:6=H=&QO;F<`````````"V-R;W!296-T5&]P;&]N9P``````.$))30/M
M```````0`\`````!``$#P`````$``3A"24T$)@``````#@`````````````_
M@```.$))300-```````$````>#A"24T$&0``````!````!XX0DE-`_,`````
M``D```````````$`.$))32<0```````*``$``````````3A"24T#]```````
M$@`U`````0`M````!@```````3A"24T#]P``````'```________________
M_____________P/H```X0DE-!`@``````!`````!```"0````D``````.$))
M300>```````$`````#A"24T$&@`````#-0````8``````````````/\```%C
M``````````$``````````````````````````0`````````````!8P```/\`
M`````````````````````0`````````````````````````0`````0``````
M`&YU;&P````"````!F)O=6YD<T]B:F,````!````````4F-T,0````0`````
M5&]P(&QO;F<``````````$QE9G1L;VYG``````````!"=&]M;&]N9P```/\`
M````4F=H=&QO;F<```%C````!G-L:6-E<U9L3',````!3V)J8P````$`````
M``5S;&EC90```!(````'<VQI8V5)1&QO;F<`````````!V=R;W5P241L;VYG
M``````````9O<FEG:6YE;G5M````#$53;&EC94]R:6=I;@````UA=71O1V5N
M97)A=&5D`````%1Y<&5E;G5M````"D53;&EC951Y<&4`````26UG(`````9B
M;W5N9'-/8FIC`````0```````%)C=#$````$`````%1O<"!L;VYG````````
M``!,969T;&]N9P``````````0G1O;6QO;F<```#_`````%)G:'1L;VYG```!
M8P````-U<FQ415A4`````0```````&YU;&Q415A4`````0```````$US9V54
M15A4`````0``````!F%L=%1A9U1%6%0````!```````.8V5L;%1E>'1)<TA4
M34QB;V]L`0````AC96QL5&5X=%1%6%0````!```````):&]R>D%L:6=N96YU
M;0````]%4VQI8V5(;W)Z06QI9VX````'9&5F875L=`````EV97)T06QI9VYE
M;G5M````#T53;&EC959E<G1!;&EG;@````=D969A=6QT````"V)G0V]L;W)4
M>7!E96YU;0```!%%4VQI8V5"1T-O;&]R5'EP90````!.;VYE````"71O<$]U
M='-E=&QO;F<`````````"FQE9G1/=71S971L;VYG``````````QB;W1T;VU/
M=71S971L;VYG``````````MR:6=H=$]U='-E=&QO;F<``````#A"24T$*```
M````#`````(_\````````#A"24T$$0```````0$`.$))3004```````$````
M`CA"24T$#``````3N@````$```"@````<P```>```->@```3G@`8``'_V/_M
M``Q!9&]B95]#30`!_^X`#D%D;V)E`&2``````?_;`(0`#`@("`D(#`D)#!$+
M"@L1%0\,#`\5&!,3%1,3&!$,#`P,#`P1#`P,#`P,#`P,#`P,#`P,#`P,#`P,
M#`P,#`P,#`$-"PL-#@T0#@X0%`X.#A04#@X.#A01#`P,#`P1$0P,#`P,#!$,
M#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,_\``$0@`<P"@`P$B``(1`0,1
M`?_=``0`"O_$`3\```$%`0$!`0$!``````````,``0($!08'"`D*"P$``04!
M`0$!`0$``````````0`"`P0%!@<("0H+$``!!`$#`@0"!0<&"`4###,!``(1
M`P0A$C$%05%A$R)Q@3(&%)&AL4(C)!52P6(S-'*"T4,')9)3\.'Q8W,U%J*R
M@R9$DU1D1<*C=#87TE7B9?*SA,/3=>/S1B>4I(6TE<34Y/2EM<75Y?569G:&
MEJ:VQM;F]C='5V=WAY>GM\?7Y_<1``("`0($!`,$!08'!P8%-0$``A$#(3$2
M!$%187$B$P4R@9$4H;%"(\%2T?`S)&+A<H*20U,58W,T\24&%J*R@P<F-<+2
M1)-4HQ=D154V=&7B\K.$P]-UX_-&E*2%M)7$U.3TI;7%U>7U5F9VAI:FML;6
MYO8G-T=79W>'EZ>WQ__:``P#`0`"$0,1`#\`]4`#0&M$`:`#@!8/4/JW?EYF
M=ELR&5OROL@JFMKMGV:UF0][G?SK]VS]'5ZOV?\`TM*MW?6GZM47/HOZMAU7
M5.++*WWUM<US3M>Q[7/W-<UR@/K=]53QUC!_]B:O_)I*<Y_U<^L=F,:;>L6.
M)H<P[7.9^EW/?O\`5JV7^ED;J7?SGK8?H^A1;;C765(N;]6\^WJ&7F8F0S&M
MON-]>0V1;'V:GI[L"QS1N^RV.H^T[V6?H[_0MKJ]6CU5=_YV?5;_`,N,'_V(
MJ_\`)I?\[/JM_P"7&#_[$5?^324TST/ZQRS_`"R_8TTF-H#M*W,RYMV[+-V3
MZ&73^@]/]%9BVU^ADVJL[ZO?6'$I]/%S3;5ZE;1C5.-#14Z_&LM9Z@=OH;CT
M5YUCLBG];R_MWH?]H\9:O_.SZK?^7&#_`.Q%7_DU&SZU?5A];FMZUA,<X$!X
MR*26DCZ0W/<WVI*:)^KWUE`<X=;>ZYS-IL+7!I.S*K-@QVO]&K>^W"?^C_FO
MLS_3_G%!O2^I[J'NZUO9;;2VNLVF'NH=@W/QJK&;/4?LZ?UGU-M?J7,R_P!9
MW_9UF4T_5ZNIK3];<<O:PU@C(:&[7#.W,VNRGO\`3=9U"ES_`-+_`-H<?T_3
M]GI&/_-4X^!3_P`XL%G[.<ZV@,LH#!<Z^O,98*WVV;*ZFU/Q&,8_U?LN1?7]
MH_2)*;Y^KV4SJK[:\VO&MNMLO#:B6VW4.R<'(R&6[2U_ZM3CNP_4;ZO_`"A_
MVG_F[XLZ'US`PJ_6ZVVG%Q&T%Y#6TL8RJIS,T^H[=4VK[1Z67CL]+T*J:?L5
MGZM:]9.,SH;A8W,^LN(UGJ.+65YHLWUEN"-V58ZVG=D66=/M??Z;&5V?:K7H
MC+.B6LZKC9?UCPG4=0QFXS+OM;++2Z;W6Y-S'O92U^VZNNCT_P#`U>GZEGI>
MHDIU6](S<SIMV-^TJ\^S[3BY3'>H^&BIU%UE8NI>^ZAM[\>Q]/I_S7J*/['Z
MO9T[J5'4\\EN^@4WY`KV>E0:\O*RW5-<^JO[3DORJV57>RO%HQ*[:MBIY;OJ
MOD9[\NOZSTXPL$%E656'`BME%=[;O5WNRJ_3_G;_`%OT5MU%E7Z1";_S;HQL
M@4_6#`NON&(2+<AC6N=AY%F:*G6.NR7LQ+VV?9?2VV_9J?\`25_H4E.G?]7>
MLU>M5T_J1Q<(4[,>N2W;9ZE62ZZW:-K&[OMC7LQ/LM?V7(JQ*&8GV:NU2_9W
M6MYS!UL#"?>[(81!'IVBHU#UG[JG8[=KZ:<;9L]+*]7[3;EU4WK,K=]7FVUV
M/^ME#S3:+*OUEGT0[!<UKYR';WNIZ?=1;9_A/VAE?HE4OQOJT,"W&Q?K+@A]
ME&12_?>P-M=DT#%?;E?I[&.L;:/M'K-I^T?S>-ZWI_SB4ZUO1?K4VW'QZ.HV
MEH:\.RRX%M9=5E-]]5EANS7V9=N+9^D;^JUX_P"KV_SJMN^K_4K<"_'R<S[3
M99;AV5-M+GL:W%=CWVX[Y]K_`+1;1?\`K'H^K97;^L>LK7_.[ZJ_^7.#_P"Q
M%7_DT_\`SN^JO_EQ@_\`L35_Y-)3GU_5OK=8-=74W4XQVN;CUES65@Y`R[<2
MG;L<VBJC?BXMK'4V>C^B]/T65UUN.@_60&I@ZN34QCF/^GO=O'OW.+G;G>K^
MDHL;Z3\9F^G])6^O[/?_`.=WU5_\N,'_`-B:O_)IO^=WU5_\N,'_`-B*O_)I
M*0]-Z'U+'ZM7GYN9]K;3C68]>[=N`L^Q>W:Z6>U^!;<_(_G\C[7Z=G]&J6ZL
MC_G?]5/_`"YP?_8BK_R:G3]:/JUD7,HHZKAVW6N#*ZV7UN<YSCM:QC&OW.<Y
M)3__T/55&PD,,*2C9]`I*0[G>)^]+<[Q/WJO?1E/N#Z[]E8:!Z7N&L[M^YI]
MW]IJ"[$SW.+AE%H)G:"^!HX;?\]S;O\`K7H?S%MB2F_N=XG[TMSO$_>AD6DD
MA[0"=!LF/_!$MMW^D;_F?^I$E)-SO$_>EN=XG[T/;=_I&_YG_J1+;=_I&_YG
M_J1)34R>K_9L@T/HO?MUW5@N]NW?ZFWV^S=OJ_G/YQBE@]6;FV.K%5U+VMW_
M`*00TMW;-'_O?G^F]68O'%@_S/\`U(D1>>;`?['_`*D24DW.\3]Z6YWB?O0]
MMW^D;_F?^I$Q%H_PC?\`,_\`4B2F;GN&DG[TV]_[Q^]#(MY-C?CL_P#4B&ZQ
MXXL#C_4T_P#/B2FQO?\`O'[U5S[\^NMAQ',W;_T@L=!+(/MIW_H_4W?Z1R1M
ML(@F/&-$:DD5B-.?RI*:!R/K"^FMV-Z1>&M;8+"T`V--C;W;F/L;Z-GZ#T]G
M_JO2Z=9D/J`R3-H:-_',NCZ'Z/=LV^IZ?Z/U$+='J#N7NG[FHV'])_P'_?DE
M-I))))3_`/_1]54;/H%24;/H%)2%)5[V9IN:ZAX;4![FDB2?G6[^W[OTG_!H
M+ZNK%Q++FM:3(:2#`@^W^;_TFQW_`!6^G_">JDIO)*#O5D[=D3I.Z82_3_\`
M!_\`224S24/T_P#P?_22/K`236!XG<DIFDJ[LAP.FQWC&X?E4'WV.[[1X!)3
M9=8QGTC!\.Z`_()/M$>90DDE+ESG?2,IDD3]%#06D&`28.O.[3=^<DI&C,=M
MJ!^,*+S46DM81^Z[6.?BF;]$)*6;J7D_OG\C5:P_I/\`@/\`ORJL_/\`ZY_(
MU6L/Z3_@/^_)*;22222G_]+U51L^@5)1L^@4E(4E7O=FBT>BT&H`;I#=3_)W
M/:[_`(S_`,!07/ZMN.QC-A/MW;)B'?R_])Z;?_"_K?X?TTE-EV5BLM%+[JV6
MG;%;GM#CN.VOV$[O>[Z"B[.P6"79%6IVB'M,F?3V\_Z3V++ZECV79;[JRSU&
M>QF\V``-)^CZ5FUN[_"?H_TOZ/U?YNM95E.70V'=/K>T$DV5OL>3N^GO+;/4
MVN^ALV;/3_1I*>H?DNX:(\SRA.<YQEQGXKGS]9<PN,U4[NX.^?NW)?\`./,_
MT-/_`$__`":2G?26!_SCS/\`0T_]/_R:7_./,_T-/_3_`/)I*=])8'_./,_T
M-/\`T_\`R:7_`#CS/]#3_P!/_P`FDIWT6M[G':7A@YG3E<W_`,X\S_0T_P#3
M_P#)IO\`G+E<>E1/]K_R:2GI;2=I_2!\:$:!5LG-QL*EMN2XLK<=NX-+M3]&
M=O[[O8S^6L(?67*)@5T$^6[_`,FMGI]K<_!JR,BJLO+G@-V[@(<ZOV^IN^DT
M)*4>I8E>KO4VO#;0X5DC;:#Z<_\`;-F__1[%H].M9<PVLG8\`B1!T+FN#F_F
MN:X*K710T.:VJMK0]V@:(U'_`*EL;_UQ7,%K6!S&-#6-:T-:T```3#6M'T4E
M-M))))3_`/_3]54;/H%24;/H%)2%)`OLR6/'I5A["!)@D@R=S?:1_)]WYB`[
M)ZCN.S&ED^TD.&D./[W[_IT_]=^T_P`W3Z:2D5_\_9_6*@IW_P`_9_6/Y5!)
M3"VFF\1=6VT?R@"?\[Z2I6]$Q'ZU.?2?`'>W_-?[O^FM!))3A6]$S&:UEEP\
MCM=_FO\`_)JE;5;28NK=4?Y8(_Z7T5U27(VG4'D'4?<DIY-3IJ-K]@<&Z%Q<
M[0`-&XK?NZ7@6R34&./YU9V'[A[/^@J5W07<T7`_R;!'_3K_`/()*:W[&ZEN
M+/2&X20-PU@AFG]IWYZM5LS68S&6X;"RHLVV>HQA+ZG/>S>-CMWOW,M^G[&6
M?3^FJ-V!GTM`LJ>6-D@L.]HGD^SZ*AB/PQ=.6U]E6UPVL)D.B&/<W=6YS6?N
M>I6DITNH69IQKFWXE5#2&EQ#VN<T;Q6W:UC/])6_\[Z?VJS_``NQ:/0?^2:?
MZUO_`)\>L')LZ8^MWV:E]-H<-A!):YG_``@L>]U3OY+/46]T'_DFG^M;_P"?
M'I*;S/S_`.N?R-5K#^D_X#_ORJL_/_KG\C5:PS[GCO`_[\DIM))))*?_U/55
M&SZ!4E&SZ!24A220LFY]->]E9M,@;1/>?W0_PV?UWI*:-_\`/V?UBH*Q=BY#
MK7N:T%I<2#(XE0.)D#EH_P`X)*1)(OV6_P#='WA+[+?^Z/O"2D22+]EO_='W
MA+[+?^Z/O"2D22(<>X&"!]X3>A;X#[PDI@)[<JIF&IUS*[L7[0Q["18![M\Q
M73OAK6^H[\]]RMVXMMC-FK1()+2)@&=O]I5_V=U(`#[8>P<=HU`\/<DIRF]/
M%]E;6X]N)Z@!)<38ULUMM_/8SZ+W>C[[?_1FS>Z9CV8N!708L<USR2T[1#G.
M>/I_%"9@YPM#WWFQ@)(K(`TAX`+FGW?3;]+_`$2O5M+*P':$3*2E@2UKBX07
M.)`F>81^GDE]A/,-_P"_*JYVXSV[*UT[Z5GP;_WY)3>22224_P#_U?55"SZ!
M6?G8F8:1DV]6OPA13.1]FKQQ42P%]M^S-QNH7U_\7]H?[/\`/5"/:US_`*R9
MU9<X,%=E6&RS<Y[:6M=19TQMK=UEE?TF?\)_-I*=I*5CNJ:QC'N^M&2UMK7O
MK)_9XW-J_GWM_P`G^YM/^%_T:5E3:VM=9]:,AK7ZL)_9XG3U/;_D_P!WZ/WI
M*;K\.YUMEGVAS&OF&M+_`&\[=OZ3;^=^D_XNOT_31*F/8'![]Y<\N'.@/Y@W
M.>J56#;?N]'ZQY=NPAKMC<!T%WT`=O3OSD%C&OL-?_.3-:X/-8WUX3`YS2]K
M_3-G3&>KM=3;_-I*=9)97IUZ?]E&2-S#8V?V>)8T;GV-_P`G>YC/SE"X-I%;
MG?6+/<RY@LILKIQ+&6!VM;:+*>EOKONM;[JJ*G>M;_@ZTE.PF<[://LLFMK+
M"!7]9,UY=<W'&VK#,VOK;ELK]O3/^XS_`%G?Z.O^<4CCUEKGGZSY&UCO3>X_
ML_1TN9Z;O\G_`$]['MVI*;Z2SFU8[FM<WZT7EKRUK'`].()>"^MK3^S_`';V
M,>]J5=--GH!OUFR=V36RZACAT]KWUV?S5C:G].;9ML_-]J2G12'*SO2HW!O_
M`#GR)<W<-.GQ$3[G?L[V_P!I.S'K>"6_67*AMK:-Q;@`&U[&9%=3''IWO>^F
MVNSV)*2NP\AVXC(+2XDB-YB?H[?TOYOM?_QG\A$:',K%9=O@DEVO<EP;[BYV
MUD[54=70VPU.^LV2'-:U[B6X&T-L_FMUG[.]-OJ?F>Y39@5V6MIK^L64^QY>
MUK6MP"2ZN/59IT[Z;-WT$E-A6^G?2L^#?^_*I_S?R_\`RZS?^V\'_P"1JDWH
M6<R=O7,YL\Q7@_\`R-24ZZ2R?V-U'_R]S_\`,P?_`)&I?L;J/_E[G_YF#_\`
M(U)3_];TKJWI_LS+]6?3]%^Z-_&T_P#<;]/_`-L_I%SEGV#]IOW[9V6\_;/7
MCV[O4]+V>KN_GO\`@?2]+]&O`TDE/OOZC^S\+Z,>J_;L^U[?Z2[=Z?YW[1W?
MS7J_]K/YO]%Z::G[!L,;.!N]/[9,?::MOV#_`(7=]/T?TG[1_G/T?J+P-))3
M]&_5WT=^;Z?H1]JMG[/ZNZ?5R?Z5]H]V[_3_`."_:/VU874OL7V2_P#H7\Q[
M?MGVOTH]0?TW_NK_`*/U/TO[0]->'I)*?=\KTOL-OH>EZOKT[?0]3UYW7[?L
MWVS]5_:7_<;U/T/VWU?4_2+0=]B]'$W[]OV&G=Z?VOZ&ZKTOL/I>_P!3=_2/
M2_6_3^S?;/T7I+YX224_0P]#]I]+G['OWOV[/6W;OL^//V+;^A^R^G_I?U7^
M@?\`:I5L'[!_D[;MW>GC[?Z9Z43;_1/4_1>G_P"57J?X'[0O`DDE/OU?V3U<
MV?LG\U[MGVF8VX_\YM_P/T?4]/\`]*JWG?9/1LW;(].N?4^TS'ZM]/T_?^YZ
M?^$];_KZ^=DDE/NA^Q^BR/L.S9F?SGVKUN,6=N[]+M_\L?\`T$5U_P!D_9FO
MH1LR=L?:?1W;:_Y_;[_V7_Y8>I^K^KZ:^?DDE/OUOV#=7MF/4=_/?;/6_F[/
MH[_?ZV[^E_\`FL_X)-]7/LW[1Q/3^Q;OL0_F/7]68J_HGK^S]A_2]'_!_P#)
M?_`KP)))3]5)+Y5224_522^54DE/_]DX0DE-!"$``````%4````!`0````\`
M00!D`&\`8@!E`"``4`!H`&\`=`!O`',`:`!O`'`````3`$$`9`!O`&(`90`@
M`%``:`!O`'0`;P!S`&@`;P!P`"``0P!3`#8````!`#A"24T$(@`````!1DU-
M`"H````(``@!$@`#`````0`!```!&@`%`````0```&X!&P`%`````0```'8!
M*``#`````0`"```!,0`"````'@```'X!,@`"````%````)P!.P`"````"0``
M`+"':0`$`````0```+P```#H`!&'6```)Q``$8=8```G$$%D;V)E(%!H;W1O
M<VAO<"!#4S8@*%=I;F1O=W,I`#(P,34Z,#0Z,3D@,C,Z,34Z,SD`<G(Q-S8S
M-C(```````.@`0`#`````?__``"@`@`$`````0```6.@`P`$`````0```/\`
M````````!@$#``,````!``8```$:``4````!```!-@$;``4````!```!/@$H
M``,````!``(```(!``0````!```!1@("``0````!``````````````!(````
M`0```$@````!.$))30/]```````(``````````#_X0%(34T`*@````@`"`$2
M``,````!``````$:``4````!````;@$;``4````!````=@$H``,````!``(`
M``$Q``(````>````?@$R``(````4````G`$[``(````)````L(=I``0````!
M````O````.@```/``````0```\`````!061O8F4@4&AO=&]S:&]P($-3-B`H
M5VEN9&]W<RD`,C`Q-3HP-#HQ.2`R,SHQ-3HS.0!R<C$W-C,V,@```````Z`!
M``,````!__\``*`"``0````!```!8Z`#``0````!````_P`````````&`0,`
M`P````$`!@```1H`!0````$```$V`1L`!0````$```$^`2@``P````$``@``
M`@$`!`````$```%&`@(`!`````$``````````````\`````!```#P`````'_
MX3I#:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+P`\/WAP86-K970@8F5G
M:6X](N^[OR(@:60](E<U33!-<$-E:&E(>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM
M<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z;65T82\B('@Z>&UP=&L](EA-4"!#
M;W)E(#4N,2XR(CX*(#QR9&8Z4D1&('AM;&YS.G)D9CTB:'1T<#HO+W=W=RYW
M,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN=&%X+6YS(R(^"B`@/')D9CI$97-C
M<FEP=&EO;B!R9&8Z86)O=70](B(*("`@('AM;&YS.GAM<#TB:'1T<#HO+VYS
M+F%D;V)E+F-O;2]X87`O,2XP+R(*("`@('AM;&YS.G!D9CTB:'1T<#HO+VYS
M+F%D;V)E+F-O;2]P9&8O,2XS+R(*("`@('AM;&YS.F1C/2)H='1P.B\O<'5R
M;"YO<F<O9&,O96QE;65N=',O,2XQ+R(*("`@('AM;&YS.GAM<$U-/2)H='1P
M.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O;6TO(@H@("`@>&UL;G,Z<W1%=G0]
M(FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP92]297-O=7)C945V
M96YT(R(*("`@('AM;&YS.G!H;W1O<VAO<#TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]P:&]T;W-H;W`O,2XP+R(*("`@>&UP.D-R96%T941A=&4](C(P,34M,#0M
M,3E4,C,Z,3,Z,C@K,#4Z,S`B"B`@('AM<#I#<F5A=&]R5&]O;#TB4%-C<FEP
M=#4N9&QL(%9E<G-I;VX@-2XR+C(B"B`@('AM<#I-;V1I9GE$871E/2(R,#$U
M+3`T+3$Y5#(S.C$U.C,Y*S`U.C,P(@H@("!X;7`Z365T861A=&%$871E/2(R
M,#$U+3`T+3$Y5#(S.C$U.C,Y*S`U.C,P(@H@("!P9&8Z4')O9'5C97(](D%C
M<F]B870@1&ES=&EL;&5R(#$P+C$N.2`H5VEN9&]W<RDB"B`@(&1C.F9O<FUA
M=#TB:6UA9V4O97!S9B(*("`@>&UP34TZ1&]C=6UE;G1)1#TB>&UP+F1I9#HU
M.#`X0C5%-$)"139%-#$Q.$)",49",C=%.3,W-C@X0B(*("`@>&UP34TZ26YS
M=&%N8V5)1#TB>&UP+FEI9#HU.#`X0C5%-$)"139%-#$Q.$)",49",C=%.3,W
M-C@X0B(*("`@>&UP34TZ3W)I9VEN86Q$;V-U;65N=$E$/2)X;7`N9&ED.C4X
M,#A"-44T0D)%-D4T,3$X0D(Q1D(R-T4Y,S<V.#A"(@H@("!P:&]T;W-H;W`Z
M0V]L;W)-;V1E/2(Q(CX*("`@/&1C.G1I=&QE/@H@("`@/')D9CI!;'0^"B`@
M("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A=6QT(CY-:6-R;W-O9G0@5V]R
M9"`M(#(P,30@1')A9G0@,C`M1B!73%)++4-35$T@-"`Q-R`Q-2!#3$5!3BYD
M;V-X/"]R9&8Z;&D^"B`@("`\+W)D9CI!;'0^"B`@(#PO9&,Z=&ET;&4^"B`@
M(#QD8SIC<F5A=&]R/@H@("`@/')D9CI397$^"B`@("`@/')D9CIL:3YR<C$W
M-C,V,CPO<F1F.FQI/@H@("`@/"]R9&8Z4V5Q/@H@("`\+V1C.F-R96%T;W(^
M"B`@(#QX;7!-33I(:7-T;W)Y/@H@("`@/')D9CI397$^"B`@("`@/')D9CIL
M:0H@("`@("!S=$5V=#IA8W1I;VX](F1E<FEV960B"B`@("`@('-T179T.G!A
M<F%M971E<G,](F-O;G9E<G1E9"!F<F]M(&%P<&QI8V%T:6]N+W9N9"YA9&]B
M92YP:&]T;W-H;W`@=&\@:6UA9V4O97!S9B(O/@H@("`@(#QR9&8Z;&D*("`@
M("`@<W1%=G0Z86-T:6]N/2)S879E9"(*("`@("`@<W1%=G0Z:6YS=&%N8V5)
M1#TB>&UP+FEI9#HU.#`X0C5%-$)"139%-#$Q.$)",49",C=%.3,W-C@X0B(*
M("`@("`@<W1%=G0Z=VAE;CTB,C`Q-2TP-"TQ.50R,SHQ-3HS.2LP-3HS,"(*
M("`@("`@<W1%=G0Z<V]F='=A<F5!9V5N=#TB061O8F4@4&AO=&]S:&]P($-3
M-B`H5VEN9&]W<RDB"B`@("`@('-T179T.F-H86YG960](B\B+SX*("`@(#PO
M<F1F.E-E<3X*("`@/"]X;7!-33I(:7-T;W)Y/@H@(#PO<F1F.D1E<V-R:7!T
M:6]N/@H@/"]R9&8Z4D1&/@H\+W@Z>&UP;65T83X*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H\/WAP86-K970@96YD/2)W(C\^_]L`0P`!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M_]L`0P$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!_\``$0@`U0$I`P$1``(1`0,1`?_$
M`!X``0`"`@(#`0`````````````&!P4(`@0!`PD*_\0`9Q````8!`@(#!@X)
M#0T$"P```0(#!`4&!P`("1$2$R$4%A<8,4$5(C,V455866%QF)G6UR-7<G25
MEK*STC(W4E1B=7:1E)>QM=,9)"4T-4)3=X&"M+;8"B8Y<R='5FB#H:.FP='P
M_\0`%`$!`````````````````````/_$`!01`0````````````````````#_
MV@`,`P$``A$#$0`_`/W\:!H/S>[3\(Q^2.)]Q,K;*;3-I>:V%4W98M[HR]FJ
M712S%BP&V':5(IFQ3`N-N&3T9<S-7H3#,#Y8QI_AA10"F;F($DJ'S=Q7O^W,
M[7Z#<L7833AJE&R68N*)F2+N-J/@R,JEQR52]U3F(K=!MEES[E7%41#49%.9
M4<W#P:.+5E;N:49OX&!5;QZJ3D/H56.)1OER9O$?8/2KU9Q>8N<*_A(V.)27
MV]-V)Z=9MN87QWE2ER=ORJRSM>;G$WI\M+5H*UB6P8;F:I5GS!W..I)5_P!P
M!@,3Y+R5E_\`[,IN2R)F/,<KFG*-GV?[SI"\SL^:%-8("PG0RH5]59H(A-$[
M=U&F*"Z,?)(MW42P>,XIHU:0[*-:HAKB]RK"[.28+SMPT,;8RM$Q5N$)=;UN
MXQ_@:*KHT2?N57A\8J[>[#F&`QN5-DOD9K=IW,+EG).VH7J8@V5MC7S\(AJ;
MJ0V!4XJ>\+%N!+ENHM:L!EC;[MWW#8N89BDH=OM]LV3[%@+)N*TR6)VYAMLV
M5\QT2LSN-\J3=2LD>=E:6\A)XXE'25A:-G\<HY<A"\I\4#B4XJ?X3I=D@Z/'
MY6G=J&(-R(0LVG@/'5!ROD',FX6>KZN#IRRYARSCV>B6E&QHWJ]+3<X1A;[>
M5;S:8ZP3\:6,<M&[D(_A;=!E##6ZS<IAFJ9%JNW;'6?>)+O/>Y)W1WB`@9^N
MXZ>8CP5ARQ4>@I%MSQI36$QE"1G)11!S83=>M&4V49U])6077<,`[=FXNF\Z
M8QC0[O,9`QCMFLKOAO;@=UZ=-M>.8Z06RSF'#^2I^I8XK%>3M#Q2195W-L##
M1<Y&5R'!S;5VULB^]M55=!0BH2B4XEN_RZ7IXXAKO4,-QP[L=E.WY?&,EB*%
ML+^K1FY_`K;(UZ)*RTZX0FU+/0K*"C&OD6!L@`]VM[`RD2E;)-0@%@XPV]U+
M'E'A$7=:B+$Q7XA$+,YQ/`8(J=3N5ZVH9NFL;8TKMG\.V6,5X[KD+.5MHWM&
M0FM%G)#(KEJU='I-5,BF[<H!<$GQ/=[[7-^3W4U-XYJU)Q5N8X4.')/#T33H
M.T-G\?OJI$$KE9`<DDDSR+HM8LLRG)T>6B7!2@S36;R!YALLW!(-NN';D+,E
M]PUQ26^<<YS.6K91=XV\_'D+!6%O664G2,?U!FG$T!)K&P;9HXB8*7K"4>ZB
MHY1LC&_8W#YB"KI](NG`?)GA]QF(J=C3@;V[:C&XUB=QLU#Y0;[L5</M:BVM
MU@PREB2ZRUB>;BFU7%"2EFC#(#"@J0\E?4W4DRL*K=&*616>.04"P:YN)WD;
MB(?@DYR<VO&%RW6[G,0\1?(.-;3+8GBV$9B"YP6U<ZT)`4B'AI%NW>QUH?1:
M+.RJ6HD^Z>(R"S5@K&()(=4$[;\8G>3D[!`;FZ74#T3"5VW2;:=G\&\>TN@,
M[S1+8UI9'F[&[N7.7;I0\4-P/F-Z7"N/'^0KU#4%@^@Y5^]=+R2S>/*'4OG%
M%X@/>_4"15UQ32)9KL!W?;IWTO&5K&>4F=]F]O6>J?2,>R#F0IEPMM'AT;I2
M9E4+K!TNU3T9$3;EZG`S:@,V;O0;:<77(3_(&P[AUY4?V*'Q[)W3?KPS+Z]M
MD@T27@*2^L.0(&?<V!ZQ=+*HJQ-=7=GD'#5RNHF=FT,DLJ8HF.(:EY4XO^]+
M!^'R9=.6I9KQR;.V[[9C2LAU6@LR)Y9S0W802>RW)D0E%KIP`5J=O)+3CJ\A
M$NN]J6ED8I2-*W57.GH-PN,Y7[Q.;"-DM7R=#T'+V2I3>YP[H3(4';&Q*SC'
M)5X=7N%96QA/LTZQ=DX"E6R?/()OVB=/M)(R&?*(E@)<J`,5PU[R*&?^%31+
M6PJ5@P/MVM&]O>%:[IBW#6+3QDSM9P)3:OA%FO*U9'*.4Z5C"*Q\K=9&G/+K
M8W]5VYVM>2L,@2L4_&J[MY)7)$*95XS6\KO#V(YMGI?'L-C+,&W?;I<\ML<7
MUS&V2<C%RM?\O]X%I"?P);\@XZR@]QW:(YC(-8^P83L,L[QQ-*#(3<)86S56
M"(%H..+=O(Q_N,W:TFU1E<R82H43>?=MM^.\1U2CY/H]H:8%ARS%`A[O;J7>
MXO..(<@(@D9G;*;DO&,BTN!EUSUN?JRC=JB[#"8_XI6^.TX/93S:\X[D#6?/
M>P#'%9RPY9;<[38P9;FV0AER*E<>X&RYE6G5Y&"5&/FL;N;-,Q]I6AYMNVL\
M&60C'Z9@D5:XI>[&6@J-2+KEO&^+5X/.O$AQC=]RE@QW7VL#=GNSR?L"&*:,
ME7Y)Z2H05DR!&%8N)Q.-6:R<DSKTHWK+5K)/"/`"HJ#QC-^EW0VWI#'4R+GK
M1MAVH9DZ,NWP30*1GNWYKRK9*KDJ,<2V7LL4&V1475X.$C(:MQN`:YD:Q,[9
M.)NKDT9QSJ#:R(?:'AR;@\_;D[[OMFLLW>)<5+!F]G.>VG&N/H2GP,4A#53&
MSN!6B9.6L[<%9J?FS(3"C!RLJLDR7(@5R#;KCB;0?GMVQP.'HO;YMGNV!XO&
MS+B!J\9?+42I+X];5%MN!G,/O]WV6HW+$5D-Q$BWN<WB]'"GHHM(,;>H[K;2
M-9Q#MJ@5PTBCIA<Y>,EOZ?8FW2930C*+6)2C[>MV>1/!_<T\#A-X$R#AC+QZ
M9C*/846KY<G<XVRMRL`FX97TV:L;X]>C8@CY2KG&ON2B["V6/$@WUT7+E@96
M_,-+O-(Q[O9X=^W:0KPX;J\&^MU4WR8IJUMLB[Z7BGC=Q%O,=S<RH-0<1!6Z
MSQJ=9.QC,=%N1,*I<\:_=4O:-U+RJ7/'$U2H[9WO>SKA:-GZO4X?(F/KWMDS
M#"8_@&%UQI`R%C=5V*?1[V7,6#O>1+%<[,VCT+3*5O&Q''>N`6W.<47>E24<
MMT&>R#CUPX9Y@X7T(EGB2QE&1<9@K%N]JN0LMEBT6:':O#5B29467,O%52;L
MZ+:.9H6&.&SNW:K/NI8-Z>!U)&E\.[O)$UMBKZ9SO\W)"-UA&[1K%VKJY2$2
M"=:(1Z[B.3))`F#H_H:J,:9910\>1)D9!(@?;+0-`T#0-!BV,)"QCN3?QL1%
MQ[Z;<D>3+UBP:-'<N[21(W2=2;E!)-9^Y3;IIH$7='55(B0B13`0I2@$8D,6
MXREFS-G*XZHDFTCI9Y/Q[60J-?>-F$[(K=TR$TS0<QZB366?N/L[R10*1XZ6
M^RKK'/Z;0912DTQ6SHW96HUA6YMVHL4+<I`11[.@R%,Z0LT9\S095-J*2BB8
MMR.RI"F<Y.AT3&`0X,J)1XR%EJW&TVJQ]=GE'ZLY`LJ]$-(695E2B244EHM!
MFFQD5)(@B1^=X@L9X41*X%0!$-!U*QC7'5);RC.F4&E5%I.$23FFM8JL%`-Y
M<B!'"2!)1"*8-$I`B*3MTFD5V54$R.7!"`!5E`,'*-QSCV'KSRHQ%#ID55)$
MZJDA6(VKPC&O/E%^@*YWD*V8I1KDZW5DZTRS8YE.@3IB/1#D'9EZ+2+`_@92
M>IU5FY.JK$<U>1EZ]$23^MN$U$%DUX%X\9K.(=9-5JU5(K'J-SE4;('*8#(I
MB4.I*8VQU.1\C$S=!I4Q%3$L$]+QDI58*0CY6<*0$RS,BS=L%FSZ6*F4J82+
ME-5X!``H+=$`#04+8]FN#;/N0K^Z2S1"TO<JCB-SA^&K$NVK#_&T=6C61E:T
M9E*O/ZXN[:V:+?QZ24;*MIINU8L#KI)L.L."Y`O=6$QLZ,M,+1%'<'>S3.7<
M2BL?`K&=V*+;F2CY-9\9(PKS4<TZ:;-Z=4[YHWZ1$%4TN8:"N,O'P%CK$UKR
M!D.ET60Q]CV(MN57C$*E6)DIE8B/?66P3-?B73<K5[9'Z:#IR+AL9-[(/%>:
MKD5%14T$(\.6VI]M=>;UIB(A8W#$ABB+W'S-BL-1B$)]2J5:K#;H"8EF!R+K
M.K/!Q*)$Z^U%TY?M)#N=A$K%642`P=39ON3VV[Q,&-=S^`HM*-I>2Y2RL+.>
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M%':;5L8':0;G8XM^'-QN&<27F(A(*:QUE*@T/*=`K5O@(;NA&N62NL;-5'*E
M6>@];QL@PB7R`@BW*IZ&*D5207Z*0GT&M&\#!>T^3IN-\G9[RAX'=NVRRWEW
M!SM#@9#'5.PP_L=-6:2]0G\HM#4F2MZB5%F&+B3J-<I%IJ",Y8I0Z<U%6]^G
M7FL:%[[C,^8/PIAV.S%EI-*Q4=6XXKB*>SCH%I;)FQWS)-VKU,Q@SIL&Z$@O
M;"_M%EB31ZZ!T%HIMW7,+N&;*/>.4`N6R5VAW5LUC+A!5&VM&TD"C*/LD9#3
MS9"8:IF.4[5I*(.TDI)ND8Q@,DF5TDF8P@)2B(Z"H<GFPAC?'4QDYQB&-R$V
MPK6)*T0-5Q9B^'R)D5LSCA5E#1F,*?",%I9S./G95%8V)@`;KOY$PBES7,)M
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MAFS=N@HQGI9LYDF[]R=L1V^=M5FYG#P16Z)`!,A`N*,@X6$&1-#0\7$&EY)U
M,RQHR/:,!E)AZ)1>2LB+5%(7LD[$A!=/G/6NEQ(7K53]$.016%Q3BZN3RMJK
MV-J#`VA<78KV2%IU>BYY87XB+X59AC'(2"@O1,878G<"+D1$5NF(CH/?X,\;
M]TV1YX/J1W7<TA1N#KO4@>Z;6B8PG,E9%^X.MG4A.8QA3E#.B"8PF$.8B.@[
MAZ'1E5%5E:95%%5Y*&F%U3UV(.HM+UQ$C>O2JIS,Q,I)03=)-"&?'$7,6BF1
M)BJ@0A2@&'3Q%B=)Y+2"6,,>)OY_T5]'7R=*K9'DUZ.F*>;]%G)8P%I'T9,0
MAI7NPZWHB8I1=]<)0$`RCO'M!?M9=B^H]0>LK`SC8^>9NZU"N6LVPABIDAV,
MNW69'2DF<41)(L:V>$618E23*U(D!"@`9*O5>LU%@,75*[!5B,%8S@8ZO1$?
M"L!7.0B9UA:1K=LW%8Q$TR&4ZOIF(F0HF$"E``SN@:!H&@:!H&@:!H&@:!H&
M@U4WS4C+V2]GFY/'V!8NJSN8+GA^ZUNAP5V72;5F=F9:(79C"2*[I1&/2/,,
ME7<='GF%VT`$FY9=\#EM"]WKIA^='`/",W+0DI1:S;\#L(;!,/Q2L,[IU\;Y
M"R'ANVI,L(Q.U7(&,,C.)2L4-P-"0DG6196,,]HM78.(UW'R2#F/[N:MWY6@
M8F)X3F\RO;?L`TB[X*JN<V^-=L?$%V\53#CS)]""-PE?\WY\METVWYKB92W3
MZ5:;1]3QH^AJF24I1Y+(V.HA-JQK4,MZ&DC0#Z3YVV7[JLA\*3;!L,I43486
M[2<'MNQAN*F;)(QMAI]*QO0CU^7R>D_AX^U51_D&-F1K9:L>&J-GCI"1;2BJ
MK>1;-@4<IAH!N3VA;GMN>WW>_"9OLV`'&V^Y[R]JF[9H[B7G@)P_DYB^O5&;
M;@]NSVHW?)V3G5$9Y`EZZTF%97(5R-1+98K(I&RLA#PKMX>."KMI>T7+&XZ*
MC<I8(Q;4ZOBRG\9'B"9D+!P]RI9ZM`XMN6U7P(596CS4*\[U;K#%R";O?2>4
M-U*P:9&SQ=H[49,%U2!UY/A@[B]LFTG)B\DUQEM[KJ_"=P[B/.MJ)?(6#@;/
MGO%F8T;-98^^3536=/G;:6QFO,TX<DNVTC'LXN8-'F?!'I*H%#?C@IQM=F]P
M7%@R)C'%]3Q7B&\WW9[`8\K>/IVBVK'[=Y2MH%0C;4SKEKQ>^EL:R:R$Q*HN
MYYI4IN5:P,S)NH=\Y[N:K"<+)VJ\.+->(-A6>L9VJT9*4S1DFI[N8"$Q$]S$
MWG,+-%LNVR\RM*>1<&B<];A9%XQEHI59\9\`QBC^0([!,YE@(&B.)>$?O)K^
M=]OECO,=8")5%CP]Y:!RE1LGX)KI=N[#;)M<K&,LP8O?6*<Q]?\`.DY`VV^U
MNUE6QUAY>&QKEB*RJ_[[KG3CLWLZ0*W=\%'=K;=O^[?&5LJ;B0RQ<=MN:<;,
M+_,9%P!'X[W%9(MN8C9"Q_9I.#JV-U\H669@6<>21B,B;@+Y"67',G89.KUQ
MC-0CQY-,P^H_$BI+^K[2.');4\<IXIQ_MCW_`'#ZR?F'&B!:JW9X_P`:UZ[D
MH,DS6;420EZ2I'4NUW6KSSLD')O:^@TAE7R3P$&O="8:\UGA][OX'=YC^35Q
M9%N,3TKB\Y_WTN\LIY%HQ8Z0Q!F';D..("/84\TSW[A;8:U)KM;)&.X5LU0;
M*QKV%?3B#B1-#AI)BC@M;S<:[58;%D+B6@UN[67@O[C-I>7$(:^TAJ2W[I;3
MN`AKAB9G8Y1I)D;6-%AC]:RHLKJ]4=Q=>0=K0P2#3NH6Z@;!7WA!9.EV.^*L
M.-NKIVSW!V/8;DBM9!PUD[`F.;X93"^+<95W--504O==M,-;)U/*E>F\B#C_
M`"9`PV),K$;D?SN2HFR+MQ5"P\`X`W`8XSIP:L)Y9JM%K.4L*7;B%YPLL7C:
M&A(",I.WM_3EZ!41L\!29RU46K62[S>3J>REX.CV%[1R3A)1I7W#AM&K=`/T
MU:!H&@:!H&@:!H&@:!H&@^,_A/X^'N1^&/\`*^W"?],^@>$_CX>Y'X8_ROMP
MG_3/H._&Y.X[AG)0F-I?#719<AZ9XW=MGQRZ`>SET4G.W!JD(>7F(J@(=G8.
M@S8YHXP`=AML^PT#!V"`;E,SCR$.P?\`U%>SH'AIXO\`[FC8;\I3,_U%:!X:
M>+_[FC8;\I3,_P!16@>&GB_^YHV&_*4S/]16@>&GB_\`N:-AORE,S_45H'AI
MXO\`[FC8;\I3,_U%:!X:>+_[FC8;\I3,_P!16@>&GB_^YHV&_*4S/]16@>&G
MB_\`N:-AORE,S_45H'AIXO\`[FC8;\I3,_U%:!X:>+_[FC8;\I3,_P!16@ZK
MW+?%QDFJS&1VN;`Y!DX*!5V;W<9F)TU7*!@,!5FZ^!U$E"@8I3`!R&`#``^4
M`T'ACEGBX1;5)C&;6M@4<R0`P(,V.XO,+1JB!S&.8$F[?`Z:*8&.8QS=`@=(
MQC&'F(B.@]KC,/%W=H*M7>V#8.Z;+D,DNW<;C\R+(+)G#D9-5)3!!DU"&#L,
M0Y1*(=@@.@ZL;E/BU0S;N*'VJ\/V)9]8=7N2-W$9?8MNM4Y=-3J&N!DDNL/T
M2],_1Z1NB',1Y!H,AX:>+_[FC8;\I3,_U%:!X:>+_P"YHV&_*4S/]16@>&GB
M_P#N:-AORE,S_45H.NZR_P`75Z@HU>[7]@KMLJ``JW=;CLQN$%`*8#E!1%7!
M!TS@!BE,`&*/(P`(=H`.@['AIXO_`+FC8;\I3,_U%:#@?-O%\3*)S[:=AH%#
M_P!Y3,_\0?\`H*[1'S!H,4.>>,+S'H[9M@_1YCT>>Y/-?/ES[.?+!?+GR\O+
MLYZ#T>''B_"X!YXKVP#NL$3-@=>,=FGN@&YCE5,@"_@)ZT$3*D*H9(#=`3E*
M<2](`$`]WAYXPWN9M@WRD\V?47H'AYXPWN9M@WRD\V?47H'AYXPWN9M@WRD\
MV?47H'AYXPWN9M@WRD\V?47H'AYXPWN9M@WRD\V?47H'AYXPWN9M@WRD\V?4
M7H.FMESCH/S]TUC:APVG<48`*1:7W8Y]8/16)V+%,W;;<GJ0)E-V)F!<1.':
M)2^30>KPG\?#W(_#'^5]N$_Z9]`\)_'P]R/PQ_E?;A/^F?0/"?Q\/<C\,?Y7
MVX3_`*9]!M'M1M_$JL5UL+7>GA':)C#'R-64<5>8V]9RR?E&TO[B$M%II1LS
M#7C$F/HYA`&A%)AT>3:2CQZ61;,&H,#(.5G"`;ZZ!H&@:"FE/5%/NS?E#H.&
M@:!H&@:!H&@:!H&@:#7Z2W.8CAWLPRDYIZQ-`Y48X<E7+J-708L[I(1:,PBF
ML\5$B"<2G'KD6<S!SE9MP`X*'#H&$`X6_=1@.E13>?E<FU!W7ES.4AGH.RU^
M<C$';9=BW,Q55CI5=8[TQY%L8K=L@X.1$3KK]2B3IB%KUN_46Y+OFM2N=4M#
MN+*@>4:5ZPQ$R[C"NB`HV]$6T<\<K,17((&2!T1(3@/,O/02W0-`T#0-!@W;
MCKC=$H_8R^3]T/G-\/P:#IZ!H&@:"B-R-ZR#CS$EEL.,*PYL]S(B#:,ZIFG(
M,Z^10BBCNT2S`SELJ_CH1JDLZ.Q;'%9ZX!NV^QI*J+)A\_,0[V+3.Y)H#.]9
MGH#"'<4^M3%_J<K$0M<+#,YFK-E6KE227*WFWU^FK2JJX0@ZZ#RL1M6%BH]*
MA(N1+H,OF/=1GFDS&5H-U*URN&@<RQ-6K[Z`0@'3&(IRN+IZYM$I&R9`CXR#
M0FIZ48Q:#M.38N!44<N8&M+'?*,7QPD&U?=/E?+&2(2.N<NU%.;:9!/9L<]Z
MS.#D,=Q]6;UD].L+A0"GG4N_4LFZ==7-/G;)V5RB6%3;D9K=,/LWCQR+NMIK
M"'1`SQX!2^P0JO(H#\/+M'X?@T$XT#0-`T#0-`T#04TIZHI]V;\H=!"9C(E$
MKSR2CINW5^+D(=E%2,JQ>2;5%XP8SKEXSAG3IL93KDD91U'/F[`QB!W4JT<%
M2Z0I&Y!XD<C4.(C(69D[?7V,38DRK04BXDVJ;.51,D1<%F*XJ=!=$$5$U#JD
M$4R$.03F+T@YAAU,RXH22>KJ9"J94HY<C9Z?T99B""R@N@3(;DH(FZ0L7G(Q
M`,3^]7'IOL)^B%C-G+=XW0=M%TG+5TBFX;.$#E51706("B2R2A!$BB:A#%.0
MY1$IBB`@(@.@]V@:!H&@:!H&@T7R+L<@,B6RYRSK)-JBJ?>;2I?YB@M(R%58
M!?1JYJLC8T)I9+T8(FBUZIUZ$`MW$HX2#I<B',700:6X;E!DY%>12R!8X\RE
M3C*N@V;0L)W*W&*BZY'(2A4>B4AW*AJVV=+I"`)J'76()NCT1T%XX(VJQ>#;
MS=+PQN\U/K7)J*#B$58-HF#9.%GYY)Y(M8QHY68MWCMRH?K!C&L6@<ANFZ0=
M.A,Y,&V&@:!H&@QKYSR`42#VC^K$!\@?L>SSCY_)V?'H,3H&@:#P8Q2@)C&`
MI0\HF$``/C$>S01]]9HQF`E(H+M4.SJV_:`#^Z5'DF`?<B<P?L=!SD$926BV
MIHB5+!N5RH.#N#QZ$H`HJ(B8[?J'"B2?IA.4>MY\PZ`@!>1AY!4F0ZA/C2;2
MZE;)$S32.@W\LI&/J5%=R/S0[8\DW;.NK=E.=N=9HD55,1,0Z?,AR'((E$+S
M,@@H4>L11.!^B8X'3(8#&*'88P&`>8E#L`1YB`>301*4<HJK&(W33*0O(IU"
MD(4RIBB(=I@`#&(7L`H"(AV<P\V@V!QAZU&_WX]_.Z"PM`T#0-`T#0-`T%-*
M>J*?=F_*'0:>+;>+NQR;*Y+C;?5IMX\=UZ6*TG8*7C7T@_@9VSO6S.5FV<Q+
M(DC8^(L01L6+&"("(LV_)DB":AW(%L)9!5@6U7;+U1-*/I5MI"TH]<2G<[MO
MD<J4A8Y*'8-VBJS#O=DTS,X:.=*F3D8X4.O?,3MA!0,#7MM5^J[[&DJPG*=(
M.\/4U>@59M(FFRM;-#.T)INO,6Q4C)95M+I$D6QV[-DD_;]:63,9\`2``W#8
MZ"QW)P-/I=4CK_:89.I5B)KJBT,SIRQ98\8S1:]WN0L]4LBZ:R@)=A&SA!("
M<NFF=3F<0[O>59/MNY#_``;B?ZL-`[RK)]MW(?X-Q/\`5AH'>59/MNY#_!N)
M_JPT#O*LGVW<A_@W$_U8:!WE63[;N0_P;B?ZL-`[RK)]MW(?X-Q/]6&@=Y5D
M^V[D/\&XG^K#0.\JR?;=R'^#<3_5AH'>59/MNY#_``;B?ZL-`[RK)]MW(?X-
MQ/\`5AH'>59/MNY#_!N)_JPT#O*LGVW<A_@W$_U8:!WE63[;N0_P;B?ZL-!U
MG-2L:!.89=R$)Q["E&,Q1R^,>6,0[`^,.?FT&&&GV(1$1RO?A$>T1]#L7?5M
MH/'>=8OMK7[\'8N^K;0=-W7Y5B7I.LO7I+LY@08_%PJ&^Y3#&PG'GY.?+ES\
MHAH(FZ//IG#N+)5[6`I@'F[C\9%3.`#SZ)DT,=)*]$WD'HK)F`/U)@'D(!W'
M,G(O"E*[>++]$``>ET$P,(``"<R:!$D0,;RCT$REYB/1*4.S0='075&?Y-C_
M`+Q:?\.GH(ODK];J^_P-LW]2O=!F)=_U2?<R1OLARAUA@'M(3R\O@,8/XBB/
M+M$!`(KH-EL8>M1O]^/?SN@L+0-`T#0-`T#0-!32GJBGW9ORAT'#0-`T#0-`
MT#0-`T#0-`T#0-`T#0>M10J1!.8>0!_\Q\P!\(Z"/.%^D8RJIBD*'G,(%*4O
MF#F/9_\`O01E[:(QIS*F8SM4/\U#ET`']TJ80*'L#T0.(?L=!#WUIDG72*D8
MK1(>SHI=JG+X53=O/X2@3V0`-!'#',<PG.8QSF'F8QA$QC#[(F$1$1^,=!QT
M#0-!=49_DV/^\6G_``Z>@AV4W2;;'5X`P\SK5&R)IE\XB:'>`(_`4O/F(_$'
MGT'7$YE!$YQ$QC>F,(^41'M'0>-!LMC#UJ-_OQ[^=T%A:!H&@:!H&@:!H*:4
M]44^[-^4.@X:!H&@:!H&@:!H&@:!H&@:!H&@QC^8C(PHF>O$41`.8)=(#+&^
M`J).:@_'T>0><0T%<3%Z%8XDCD/L9>8$5<><?)T@2*/\72-\8>;00=W)/GQN
M;IRHJ'F)S`J8?$F0"D#R_L>8^<1T'1T#0-`T#0-!<K)8B$0Q54'HD(P:"(__
M``$P``]D1$0``\XCH*FR:Z.\I5V5-S`O>I803+S["$]"G?(`^$?*(^<=!(P\
M@?$']&@\Z#9;&'K4;_?CW\[H+"T#0-`T#0-`T#04TIZHI]V;\H=!2TIG:D1$
MTYKSQO:PF4SF3C6"54F%%[&9.33B5^]H@-P&8*W>JI%6.W]("1P6*8Z0',4.
MU*9MHD3`5^R*.)=Y&V.+?3;3T-A)!^[90T21(TS*3#-!(5XIG"F630E5'92"
MS<"9!0O6$.4H1U+<KC-SW,5B:T2"\FW!_7FC"JS#IW:HCE(F/.5=NF@)YJ&1
M+%/3K/VG222*1,QN0+H],+MAY:/GHF,G(ER1Y%S#!K)QSM+GU;ED]0(X;+DY
M\AZ*J*A#AS#GV\A[=!D=`T#0-`T#0-`T'!10B1#**G*FF7M,<Y@*4H?"8P@`
M?[1T$1DKM#L>D1`QGZP<^16X@"72]@RYO2@'/RB0IQ]@!T%?25UF'_,B1RL4
M1_S&W/I\O8,L;TX_[H$`?+T0T$3.<ZAA.H8QSF'F8QS"8PC[(F$1$1^,=!QT
M#0-`T$H)3I]5%DLDS*MW>=L1%))9-1P3NL#&;G<(E,*B":A"B<%%`*7H!TA$
M`T'7CZQ+23I\T;)(];'J]0Y%5RBBD5<5C($1(JH8"***JE$J92"(GY<P[-!D
MAHD\!2G_`,'"F8%!%0))H*:8I*$2.54P*<B&!8Y$>0^54>@';H(HY;+,W"[5
MP04EVZIT5DQ\I%"#R,`_[?(/D$.0AV#H)HH],NS8-R\P20:-BB'DZ:A4"%,(
MA[`#S`/X]!!<@^L.Z?P4L/\`5+O02X/('Q!_1H/.@V6QAZU&_P!^/?SN@L+0
M-`T#0-`T#0-!32GJBGW9ORAT&L,SMU<R]Y;9$&_N4;1"*.35B2&L1:KILBXD
MV[]-G9G)72"UO91;=N,=!(/#,O0A!T].W.95R<0#@OM\E5XM&`)>NXHMG7)F
MIE<)U]JZD96%N22;B\C(=<Z3;-W\M,D-(1CEFF"<4199N+9V04^K#$1.UD*^
MO4'T#D)\QDL:P"E0QLZ4K<<Z2K53<)22#N,>M3/$RSKQ=%^BF$FX4:F2".:"
M5J)A<"L%Z1N-*]&URKUE!S9D(^IP,?7HWT,N%KKPG91K=-LB=VE79J*0=.!(
MF`BNNDHH4!Z!#%3`"@'N\'5?]L+W_.EDWZ7:!X.J_P"V%[_G2R;]+M`\'5?]
ML+W_`#I9-^EV@>#JO^V%[_G2R;]+M`\'5?\`;"]_SI9-^EV@>#JO^V%[_G2R
M;]+M!BI"JTN,*(O)R[)F`!Y)%RGDU1<WP%23MQC_``<Q`"AYQ`.W00&2)`CT
MDXM:]D#M`'#K*631-\942V_D'^\<?BT&.3.Y3;D:GD)9XBF(B3T5F)696+S\
MH=U2[QZZ,'L`=<W\>@\:!H&@:!H&@:"P%YUXTC84I*\K'(1CIJ[*X!9T5!\X
M3]."KDID@`ZJY0Y$.90W5I^E1*!>6@];.W1S!1=\E!E5E'IGRCEV9XLF+<[I
MR94AF7(%"D433,*8+@0BA0[2"4W,V@XH6=WR%7T&Z^*2C2LU6_6N.J`$7Y7P
MNSNBEZ0+"\.F941[#=(I1Y=(-!$9%ZK)/G<@N!06>.%'"@%["@90W/HE#]B4
M.10^`-!GT/4$?_*3_(#017(/K#NG\%+#_5+O02X/('Q!_1H/.@V6QAZU&_WX
M]_.Z"PM`T#0-`T#0-`T%-*>J*?=F_*'0<-`T#0-`T#0-!ZU%4T2&454(DF7M
M,=0P$*'QF,(`&@A\E>8AGTB-A._6#F``B'11Z7PJF\H<^P1(4WP<]!`)*YS,
MATB$4*Q1'LZMKTBG$/W2PB*AA]GH]`OL%#010QC',)SF,<QAYF,81,8P^R(C
MS$1^$1T''0-`T#0-`T#0-!R*;HF*;ESZ)@-R'R#R'GR'03IM98EN:2=&;O%G
M3]-0Z::C9F9)H[.B)"B#@RYU5T$C<NI*9)/JB]H$,<O,0]J5KB4S"=2-,ZZ7
M-8A%F[,I6JQ")"B@D)1-US45TQ.L94"',4>B"?:;F'EQ<6@MG#9BV<-$^@=%
MFD";8Q$TE#LU%#+&Z7,RASHN.8=68.2I``P`7L"$R"Z+IZZ<()]2BLJ91-+D
M4O0`P!Z7HD$2AV\QY%'EVZ#/H>H(_P#E)_D!H(KD'UAW3^"EA_JEWH)<'D#X
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M.@F+Z3?R2G6/72JX^8IS#U9?N$PY$+_NE#GY]!T=`T#0-`T#0-`T#0-`T#0`
M^'R:"]HVWUM!JW!Q+`#I)JU;M0(WG$FS1NDFV*X1<IE*X(1XH)%2IJQZ1D52
M"8KE4I%!#080EJ@'Q'#%^<K5IW1)(L7"*#HJR3-QW2?K5"HH*E;BZ!4K<X-$
MS*=$1,H4GZH`JE<$@76!N8QD`54!$QPY',D!QZLQP\QA)T1,'F'F&@K_`#9?
M;-CRBI3=11K+B9,Y13(A92S;T%F;=DYD'Z<-7ZVD>=LTX=JS4(QAHXZ"IQ,=
MTHKU#54APU`P9O3F<]6UG6;%1X6M4"UMYRHMY=RY7.C*VV,JD--S,6VD"3(/
MB(*MYSH)MWM9BT`;%(9M97LB92/;AG)3/NY^/K=\G6\3@20"I9&B\9096R>0
M`)<K0_>LH96(B2*215$W#.=DFT:LZ<'*U`6\@L(`DV$V@G>$]R=UR%DE*FVJ
MNU6/CIAODLL.>ON)165C7V*[6SJ,T6P$?JJ(=SS3Q=9[$=SHME&[8J2+D5U5
M!.`?6G&'K4;_`'X]_.Z"PM`T#0-`T#0-`T%-*>J*?=F_*'0:W36?W<-<F]&/
MCB?5FII1T2IIGE(QJ69*SEV\29Q)`J`FK+5]UZKV%7DP'T9:Q\F9D0QF*X%#
MNRN?6+.KU^RQU5E)4TI7++:YB,*_CF3BN0U,.DWM)G"ZYQ;OWD:^.=DBT9F'
MNXZ*JB*I4^B)@B$7NF:SRU39P5!F)&1R+!'MN.&@SD.V+:JF@E)+NY<[A013
MAEFZ,>FH,<]`RR@2#("J<S*@D'NS??D+7A#E4Y2;@G>3:DSD:[9(VJQ]L?0+
M21(V>$D"P,C(1Z#B01;F$&H@OUK-V9)Z@!UFZ91#X]N5<<4!V9-]D^RP$MSK
M,S/Q(85DZ\O;;7CZ3L4[2;`^?S]MG)-)^>:GCK6=^Z<RO?&#=$Q3QH"ITPP%
M7D=NYI^?NV0\G35ELMHIUOAGT:TH<BVK4=8\ADC%[;848AS/O(5PL,E&(N8X
MD9"UTXB)U9563>=2[0"456U;;ZQ=JI9D\KVQW#UI]4K$K6S4#J#2-NIU))0H
MZ6"8"3559QJT.0JSJ$!DX,9^`*I2::/2;F#<;QY-OWMW._B^[_3T#QY-OWMW
M._B^[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T#QY-
MOWMW._B^[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T
M#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^
M[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T#QY-OWMW._B^[_3T#QY=OWMW
M._B^[_3T&U;F"H68Z/7',_7XNUU:=C(*U1#6=CTUR`F_CT)"+?`@N!C-796K
MLH\RB55+K%$A-R$P"%?W'`F#VT-*3RF-Z\Q5A8QO('=5^-8Q$JHSJY6T@U8-
MWR"!5&R9R1+1JH9`R*RC9%-N9<$@Y`%J)X_I";1LQ3JL&5DTM"EV:M0CF_4H
M6Y5^M**61-/H=$LP>1<+O3/N77BY5.KT^F//0>F$QM0*W8YBWP%.KT1:+`*P
MS4]'Q;5M)R0N%BN'`NG2:95#BX7(1=P/,.O6*517IG`#:#<S&'K4;_?CW\[H
M+"T#0-`T#0-`T#04TIZHI]V;\H=!2@X,JG=$R\)+V]-[-V$EJ6?$G`[M:3R*
MW3:/F+LS,SA,&*`G8,6JZCAFUCE%&:+<J0@`!T5MO]3<M$8M>7M!89C$JP$=
M'-9;N;J8.2:I(6.,=NRH&=2*-H<)$?S*CI4SA1X`K-EFPJ*]8'4;[:\=,ACU
M(YQ:HUS!,O0FK/&5A62=5*#$LF12"KAQ1.5C%+$EGA%D5".%CD[G+UX`U;@F
M$<R["QE>:4R#AVB;.,AH,D3'-R<Q!O'L.B@U;@<W,YBI)D*`=(PB(\Q'M$1T
M%`RL-$3C8S*:BX^6:&Y\VTDS;O4.8ARY@FX34*!O8,``8![0$!`-!KY:]I^'
M[,*BS>'=5MVITQZ^!=G03`Y^T3"S<`X:CR'D(%!,I0[0```>P-9+9L>M+,RR
M]-M45,H`)C),9E-:*?\`1`/2IE<H$=L7"IA[.FJ$>F'/MY<NT-9K5AC)U,.<
M)ZG3"*)/*\:MC2#(>WD(E=,NO2$`'RCTN0<P'GH*Q$!`1`0$!`1`0$.0@(=@
M@(#V@(#Y0T'C0-`T#0-`T#0-`T#0-!FHZMV&8[E")@9J4%\X6:,0CHM\][L=
M-DP6<-FO<R"O=#A!$Q55D4>FHDF8#G*4H@.@[;6EW%])/H9C4[*\EXLHGDXI
MK!2CB2CB`)2B=\Q1:G=-"@)R`)G"28<SE#GS,',/>6@WHZS-L2EVP[B104=1
MZ!:Y,&6?-40`5G+-(&8G=()`8!460*=,@"`F,`"&@BJR2B)U45DSI+)&.DJD
MJ0R:B:B8B4Z:A#`!B'(8!*<A@`Q3`("`"&@_3-@_]93#O^JG'7_)T-H)#D'U
MAW3^"EA_JEWH)<'D#X@_HT'G0;+8P]:C?[\>_G=!86@:!H&@:!H&@:"FE/5%
M/NS?E#H.&@:!H-;\[_XW`?>KG\]H-?\`0-`T'@Q2F`2F`#%'L$I@`0$/8$![
M!_VZ"LK9AK&%V!4;%3(9VY5#TS]N@:.D@'M$!"0CCM7?8(]+HF5,F(\^D0P"
M("&LUMV059\91>FV:1@SB!A*RE4BRK0#"/,`*X(+=T1,OZD`,"QN7:)Q'0:Q
MVS:?F&M"JJSA$;0R3$P@O`.DEW(D#R&&.6,B]$P_Z-NFY,'GT&ODI#2\(Z49
M3,7(13Q$0!5K(LW#)PF(]H`=%PFFH7F':',H<P[0[-!C=`T#0-`T'N1;.'`F
M!N@LN)0`3`BD=42@(\@$P$*;D`B/(!'S]F@]9BF(8Q#E,0Y1$#%,`E,40\H&
M*/(0$/.`AST`2&`I3&*8"GY]`P@(`8`'D/1'R#R'L'D/8.@WSQ+N8JU;Q_C>
MJV*07B)BGR&3FY9..Q[69F.CX>VUV.BXI5Q$<XQK9':C@LF247E2.7RR*Y!<
MN7J8%2*%EUW,^W*C6FUW2+F54H'*ZD>K.T-/'D'8$D8JIS<>JM$NF3J6,WK7
M?J=!>49]R=8K`BBD1%-,@-5Q"PYG>K@^887F&CY+(4`ED*5@9N,DVT"BN\Q8
MV@8^H-1IL`1.934?QDSWNN&KMPU5CT@;N$A.V6-UO2#YA9@MT=?LGWZZ1$>>
M*B[-9I:781ZA2$5;-G3@QDBJD3`"$6.'V54A>PJAS%YCRYB'Z(L'_K*8=_U4
MXZ_Y.AM!(<@^L.Z?P4L/]4N]!+@\@?$']&@\Z#9;&'K4;_?CW\[H+"T#0-`T
M#0-`T#04TIZHI]V;\H=!PT#0-!K?G?\`QN`^]7/Y[0:_Z!H&@:!H&@:#$3%?
M@K`AW+.0\;+M^0@"4BR;NRE`?+T.O3.)!^$@E'X=!KM;-HV(K)UJK%C(55VI
MS$JT$Z*5N4PCS[6#Q-RV$HC^J`A4S"7L*<O8(!K+;=D5RCA56J%DB;&W*`F(
MUD$E(22'S@0H"=ZQ4$`[.L,[0Z0\A!(O/D`:SVO$F1Z4)S6.HS#)`@B`O"-C
M.V7(`Y](733KD2$Y>0RAB`/FT%<Z!H+OQ5DIACZO7E%5-RXDYT]6(P:MY*P0
MW7(QL^R?R`FE*Y(1CUN8C1!0R:9W(H+'Y$.BKSZ(AN`%ZVNW>1L<@2-KQ)QQ
M5YV6;2=Q@W+LB5K;M)AV,C+-TZ\S5DX\$CQC9HV)-S3U\Z;&Y5U-83.G@8U#
M)6T:1@H"(L4<BY/%1*S"1[GKDJQ8`]<EDW4B]JJ)H"97:M'TBHP,BRZ=7<MA
M(+@TCU0*,#!&(*[;4VP+A8H:NR8FG>M:>A=+EHLK:C`!2DA':CJ+DSRMQ\ZC
MU!*!1$2G'OR4%4HHAU6F3]L3N=*E.4*NI5@%[.(A#5!5A*"DW6B#4K^_`374
M*4P%DS3'-%47*(BFZ25$R28ADGN5MLT=*4X8"H5D"Q\;.R-CEB5!PNN>V-'[
M5W4!CG"D1`G/'$;H)H2")("+;**]UD<-W!5.[G@:6W^283-VN$O%J-E8R5LD
MW(QZC-FI'MC,GK]PY;"DR6204;?85"`=(Z*8E4`_9R$!$/T>8/\`UE,._P"J
MG'7_`"=#:"0Y!]8=T_@I8?ZI=Z"7!Y`^(/Z-!YT&RV,/6HW^_'OYW06%H&@:
M!H&@:!H&@II3U13[LWY0Z#7B=RQ<&-PL5*:5VNMGR$]08:LR+R5D'S-VA<F]
MA<K2,VW;L&"K([0L`JDA'-'#GK5%4S&?^GZL@8"4SQ8BTVNV&)@8,LBO2[U=
M;`WDG;\S#N;'JR+*6CX%9LF19=24>'44BWKHO5)L@156;+&6Y$"$U_<Q=[0]
MQK%1M:JK-[F"G+WZHKR+F9!I!0C1"9<.(RUD3*17T74)'M2MU69T&XJJOR&;
M_P!X"*P9Z_6E*ZUC&EM3;'8!:*BPL)6"INDLT)*H(NP0./(HF%(513Z?1+TA
M+SY!H*JT#0-`T#0-`T#0-`T'$Q"G*)3E*<H^4I@`Q1^,!`0'051;,&XINAE5
MIREPXO5NT\G'(>A,B8_F.HZCA;G<&#S=U`N7]SV!H-9;;L=A')E%Z9;'D68>
M8IL9IN5^@'[GNMN9!<.?DZ0I&Z(<O2F[=!K);=K&9*J*RJ==+9&"72'NVM.D
MY`PD`>PPQQ^YY7GT>TP$9*%)V\U!`.8A0;^+DHM86\G'O8]<IA**3UJLU4`Q
M1Y"'06(0>P0[>0:#HZ#R7ES#I"(%YATA`.8@'/M$`$0YB`>0.8<_9#0?7O$R
MNT1]C_&_H(&&6DS!M+&C;W&:XR@L[3)K"E7G#A=)G8+`\BY9X^>E?Q%6]'#)
MQT9%NWTHW!D^8`FY"#L9C:]D!C.UF1K.+L23+*7O4#`3+>0H<TS4!T2QOQDD
M94R:#-XT"/791%6F+!*NXME,`P<5TZ(-$4]!\SIUFSCIB8CXZ02EX]C)2#-C
M*HD,FC)M&KI5!M()$-Z8B3Q$A'"91$1`B@!S'RZ#]*N#_P!93#O^JG'7_)T-
MH)#D'UAW3^"EA_JEWH)<'D#X@_HT'G0;+8P'_NHA\#QZ'_U0T%A:!H&@:!H&
M@:!H*:4]44^[-^4.@B,U1JA8O1+T:KT;(FE_0OT2470^S.QA#.#Q!E%R"18#
MQQG;D6AR'(='KU>B(`<W,(TIAC&:X%3=5..=M44V*#*/<]:I'1C:/9$CT&D:
MQZP&S-JHU3(1XW23!-\8B9WA5S)IB0!\*8H42>(FH5=!-\L1=R!&?5B)TQ=B
M0$3IG*=JB47[[^]VID4![K<<TQZT_,*XS:U;,35ADS02:M&D>HV;-D$RI(-V
MZ)P31113(`$3333*4A"%`"E*```<@T%#:!H&@:!H&@:!H&@:!H&@:!H(_.52
MLV9$S>PP,3,I&*)1+(L6[H0*("`@4ZB9E"`("/ZDP:#72V[/<2V(%%8A"4J#
MPW,2J0SOKV0G'R=;'21728)A_HVBK,?W>@UCMFRB_10JJU:9A[,U+S%-)83Q
M$B8`Y_JD5A6:=(0Y``$>'YCSY\@T&LUJQK?*2<Y;/59B*3(/(7:S111@/L<G
MZ`*LQ$?*!>N`W+_-T$'T'@?(/Q#_`$:#]-.#_P!93#O^JG'7_)T-H)#D'UAW
M3^"EA_JEWH)<'D#X@_HT'1D7Q&#<RIN0J&]*D3R](_+LY\A`>B'E,/,.SL#M
M$-!L;A551:CHJJF$QSRDF8QA\XBL7_8`>P`=@:"VM`T#0-`T#0-`T%-*>J*?
M=F_*'0<-`T#0:WYW_P`;@/O5S^>T&O\`H&@:!H&@:!H&@:!H&@:!H&@:!H*E
MS1>++0::26I\*VG[&]G(6%CHYX*'4&&3>IHN%A3<S5>174;M>N51;J34<194
MA"*.D4Q,H4*"ON[)I5L/TJZ,8]A8;#<%2HN6;MBXB8:'19R)&5@5F6Q)6:.P
M6;%,=M'QY9B1&2>B46SI9F"JY`IC)$W7KE9K-6"8?J%;G$;1'0\'.RKLS%-S
M%K8_E[X[FY$:?+F:F5EV\5U$"W.L5VD#E)661(X*JT('>B=HT?D*B5:\TFQN
M8%2T5]A-A!61#NU%JH^;E4%J609$2<$1(<3=!91JY4,GT3=#F/8'V&H3.3IF
M*\;P:D4ZGY*`H],K[Y""7C"@9S%5M@P=.D%IV0@T3L^O:FZL3*$='(HD;N4/
ML@)APM$E8INM6&&:X_M2;J6A)2-;J.']$(W(N^8KMDCKF2NBRA42J*E%0R:2
MIP(`B5,YN11"R%%2()&55'HD3+TC"/F`/_R(]@>R(AH*[D7QW[@RIN8)AZ5$
MG[`G/LY_NC>4P^<>SR```&X>#_6&V_?*2_/%T%O:!H&@:!H&@:!H*:4]44^[
M-^4.@X:!H&@UOSO_`(W`?>KG\]H-?]`T#0-`T#0-`T#0-`T#0-`T#04O?\S1
M=!G%X1ZS8JJMH%M/F,]LT/"+NT7+Y=B5G$LI$Y5Y5\4S<3=0UYF,91)(OIU`
MT$?MF5L*V=M%UNTMBV&*FUE'*C67JDVM'-4(U!V[/,',\A^YW#)FX8K-O1./
M4<-DG8`4KGM`1"*QD[MP@W=GA$6#9*,LK2#-)P)ZK8UFR25::RXHM'522K8+
M5]K!M8=W(.G4DU0*7D==RJF1%$=!F[!9MM]A2EO1.*@[2O+<YM9JG2IJ8=6<
M]3:NF!92,!M!.%)YM!H-W$:M+QG=C"+#IM73I`#"00O6HOX^5JM;E(EF2.BY
M&#C'L<P3*F0C)BY9I*M6I")%*D4J")B)E*F4"`!0`H`'9H-L(;_(\5^]K'_A
M4M!DM!!YR3[I4%JB8!;I&],8H\P54#S@/G(4?U/(1`P^F]C01_0;I8/]8;;]
M\I+\\706]H&@:!H&@:!H&@II3U13[LWY0Z#AH&@I',MQE:N>FL65G94>.L,G
M--I>XOVT8X;PR<;7G\HQ2'T:*>+3-(OFZ3?FX(910A3HMA*NH0P!%)*+N64:
M;C:S##IM923I\3*S311=%F5E)2;1!VX:%1=*E7+U2BAO2F*/0#D43B8!#01;
MP07GVN:_A)E_;:!X(+S[7-?PDR_MM!U38LN1#"46#;F4>0\I!F(?Q@MRT''P
M77']H-_Y>S_M=`\%UQ_:#?\`E[/^UT#P77']H-_Y>S_M=`\%UQ_:#?\`E[/^
MUT#P77']H-_Y>S_M=`\%UQ_:#?\`E[/^UT#P77']H-_Y>S_M=!X-C"X%`3&8
MM@*4!$1&09\@`/*(_9=!C.\>Q?M5'^5M_P!/0.\>Q?M5'^5(?IZ!WCV+]JH_
MRI#]/0.\>Q?M5'^5(?IZ")S&$C3RTVM)QA7!K#`)5J3*,@D":D6@NY<IIII]
M,2IK%6=*F!8`Z?ZC]@&@JU/9C3T$%&[>'D&J1TUFY>Y+`5J9)HX1>(+LTS(=
M68S=9-\N"@+"JH8!*'6`4H%T'MKNS>I5AP]<Q4.^(H_92,>L0\ZD#<C659RK
M%XDW:H%0;-BG0F7X$*@D0J9U"'(4!3+H/4PV9U.(7%U"QLK"/"-9%@U>1%B*
MQ=,&$QUQI5DT72`#E;R"CA15P"PK'Z?0ZLZ92$*`79#8QEH&(BX./:%*PB&#
M2-9%6?I+*E:LD"-T`46.H)U5`3(7IJ'$3'-S,/:.@O>-14;1S!NJ`%509-45
M"@(&`%$D$R'`#!S`0`Q1#F`\A\H:#$SLGU!.Y$#?9E`^RF#RIICYN?F.?^,"
M]OG#00K0-!NE@_UAMOWRDOSQ=!;V@:!H&@:!H&@:"FE/5%/NS?E#H.&@:#T.
M&K9VGU+MN@Z2$0,*3A%-=,1#R#T%"F+S#S#RYAH*BS!D&PX[BF,C!1$-)$.F
M_P";>2>KI/961;IH#$U:M1;!-5])3TX)G0MN@D+5FDQ55=<DS=,@5*GN'O"=
M72L3FC5]123K=3N,='HV%Z@I&P=@NB=2>MIA8\6X(XEHT%4W:2;+JFKTXJMP
M61Z@5%`L5ME6:-E5+'K^/A2QLO!628@YB,7EUQ$:W(0[%Q'N'SJ-0@WTH8LM
MUS^,B7J[N"*BD$@`]UI"4+1T#0-`T#0-`T#01F9?]+FT1,`E#U8Q1\H_Z/L\
MP?YW://R:".Z!H&@:!H&@Z$JY=,XR0=L6A7[ULS<KM&1ETVI7;A)$YT6YG*O
M))N590"D,LIZ1,#"<W8&@U0-N%NA"6DQ:S57;:G5Z1MSZ:;2TH$%/1,(1H2<
MC:T].T,#J2BI$[V+7D1%2(,\;&234.HBZ31#WRNX"Y1SNU,$ZY673J`K;2YL
MDFJ]L=KST`OZ.%73KC1"`Z^RJQZL=&)2TS%`,'#FER]V+"+<X&#95&?0<0$9
M-)"D;T6C63]H5)0%DCE?-4G)#)J@``JB4BH&*H!0!0O1$`#I=@0Q10ZRAE%#
M"<YQ$QC"/,1$?_[LT'#0-!NE@_UAMOWRDOSQ=!;V@:!H&@:!H&@:"FE/5%/N
MS?E#H.&@:!H(I8*/5+4^B9.?AF\C(01798AXHJY1<1Y7_4=VE;J-ET3%!T#9
M`%@'F!RI%*/I0Y:#!M\88YA64JU95*)0:S?<99%J":ATG9(Y^,HP;@5550$&
MK22,9\BU;@DW3<G.L5+IG,(AT&%"IT78G=LCZ^P:V%Z#T%Y-,J@K?X1506D!
M1(=0R#8S]5JV4>G;))'=&02%<R@IEY!+M`T#0-`T#0-!BI1_W(EU:8AUZH"!
M?W!1[!/\?['X>WS:"&B(B(B(\Q$>8B/G$?*.@\:!H&@:!H&@Z<C'LY9@\BY%
MN1VPD&J[-ZU4Z0)N&KE,R2Z)^@8IN@JF<Q#=$P#R$>0AH(".'L9F9L8]2H1B
MK&-`I&35872R""!`2*#0$U7)RG8B5!$#L%`.R."9`.@8`T'1=X9Q,0%GCBE0
MP'#IB*X%<%7335%P*K5LJ5P51LS7,[<=='MC),UQ6,*K<X\N0>]=4A^J3123
M;M&J*;5DU1*!$6S1`H)H()$*`%*1-,I2@!0``````````#T:!H&@W2P?ZPVW
M[Y27YXN@M[0-`T#0-!ICO"SONOP>PH;G:WL5LV]QY8W=A0N<=6]P>#\"'QTV
MC$8=2#>NW.:9F';V8MF5?2B"*%>%PM%#"**20)D?LA.&C?C^<7#WA+*'SBFQ
M3Z:Z!X_G%P]X2RA\XIL4^FN@BAMZ'%F,83?W!S+'IA$?_$2V(><>?_MGH/'C
MG\6;WAS+'SB6Q#Z9Z!XY_%F]X<RQ\XEL0^F>@>.?Q9O>',L?.);$/IGH'CG\
M6;WAS+'SB6Q#Z9Z#JK;Q>+(N;I&X#^6@Y!R`H<1+8AR#_P"\_/H/3XWW%A]X
M?RU\XEL0^FF@>-]Q8?>'\M?.);$/IIH'C?<6'WA_+7SB6Q#Z::!XWW%A]X?R
MU\XEL0^FF@>-]Q8?>'\M?.);$/IIH'C?<6'WA_+7SB6Q#Z::!XWW%A]X?RU\
MXEL0^FF@>-]Q8?>'\M?.);$/IIH,2ONGXK;A4ZRG`DS`)CCS_P#$3V&\@#S%
M#_OEV%`.P`\P:#T^-!Q6/>(\P?.);#?IEH'C0<5CWB/,'SB6PWZ9:!XT'%8]
MXCS!\XEL-^F6@>-!Q6/>(\P?.);#?IEH'C0<5CWB/,'SB6PWZ9:!XT'%8]XC
MS!\XEL-^F6@>-!Q6/>(\P?.);#?IEH'C0<5CWB/,'SB6PWZ9:!XT'%8]XCS!
M\XEL-^F6@Z+[<EQ5'Y"IJ\"?,I"%'I=%/B*;#``P^83<[@//EY@\@#V^708S
MP^<4OWB?,_SBFPOZ7Z!X?.*7[Q/F?YQ387]+]`\/G%+]XGS/\XIL+^E^@>'S
MBE^\3YG^<4V%_2_06I4]ZG%EJ$.G#,>`QE=P@FNNX!1QQ%-B/6B9<P&,`]"Y
ME+R`0[.SG[.@DOC^<7#WA+*'SBFQ3Z:Z!X_G%P]X2RA\XIL4^FN@>/YQ</>$
MLH?.*;%/IKH'C^<7#WA+*'SBFQ3Z:Z!X_G%P]X2RA\XIL4^FN@^V6@U'S5FC
M,\+ENGX7P)0<9W2U2N/[/DVV/\H7RTTB$KM8A)B(KT8DU6JE`OKM_*STQ**(
MM6[EM'H$08.EP74!)0"!6-4XA^.Y"J8@L%RQOEJI^$]"F1$G,-ZH,SCNE9*N
MT^_J$-C:1OPNHYE+SDA;8U:)8N8%C(1Z:3R)>S;F%2?@"083%/$FH%\QEAO*
M5GQ)FNBU?-<K64X2QNZ6,C3*O`Y8RXEBS`,O<+6@_39(+9:<S=,=1["OI6!>
M(6LJ7HL#2+2)*KA?&6-X6*,/9IH.!+"QO4WD&_5=U>$&=-JJME0K=(:6-C4W
M-QLB#5V29+6V<[(-VLS)P$//I5AL8DI:P@XEPS?.0KRL\1';_9FC^2*RR?`Q
M)VE&F:-+6;'\C$,LO5')64(3#]$O.+.L75<V.J6>[6:N-HEZ\;1#QW%3\-.)
MQYHJ1:NE0Z=XXD.V^A6.7K<H.19->O)Y&<V&3KM#D9F$@X_%]_:8KL<E(22"
MQ2`W?9&=EI=5;MB.9.W6)!U&5Y@_=('3T'F7XB.(*X8(^S8ZW!5JUL8N>M5N
MH\WBAZRL]!QQ6W<.QE,JVL!DSP?@[*\G&;1C-UZ;L#F5=MIMI%QSQU6K&C%!
MNJ:R('6K(1\=*S,?:$U5VTY%-VZ\/&M"QX2+5[+.572"S=K))F(C'G;MG9EG
M*A"*$1((J`'RSR?Q-$Z?NBL^WZJ#MOL[REY.Q;CB3QL]S\,=NILZ=W:U]];K
M;1,#,:?+.I.KX^8SB[^5FI6=B8KT-@IJ5?/XV-9J.BA=:/$LVX+,)*3,VRBV
M9.H]A)XI4=8^D$5MQ;2:O+'&U;-@)F+H7MY/:+I+PD77TG;>"4?LIN-LW12J
M:BTZ@&/FN)5@N(0A),[*[BV/$W0]PJ)*7/2>4:I;JQD^@8@:8^<5"O-YENM<
M)*[7GN,D428'NAC$2LE%+R+2,DSM`\2W$]VWP]9<VA>*R\[;5QO?'648R(QP
M]F9G"B..,ASF*+-X56<6_=)P2R.0JY+UIHUBG$Z[<K,G$@"!(=L[D6X3?>=N
M:RKMLQ\7)5`P[!WRJ5^EW3(.1)V[WP^/HROQM491"D%1(9%E7K5-3^5<H3,P
MC6,>5M&)2CWTZBHQD)9FX<1Z#P*TK6_:>L65:>R+B9)I@RYY4R)@6,N)9V:D
MLJ*Y7Q5@N_YPO)VN+(JIO`D:3!!C&W8T</V-B7LRN1&S2,0K)VSD%P#NQ/$/
MKRFU?*&Z6TXLN5+CJS>LUTS&V,;*9"(R3D4V'9&>@E7#Z)D"-V],4FY6HV>2
M=!+.%FE6I[$EAGG:'1=M&X6^^W7M:1@_`F1,FX\N`Y2SC6*F]CL$8HCELC7K
MOMDZ`;(%R@()LN2MGDXF@Q;.7/-V633@F)",F;8Q4YF;A8A^'4D-]>`X=A*2
M$RZNL&6$M=0I$RRG:1.0<M$VBX8;'/C>(E(B7192,<[@L7`6QVM)ZV04KY%4
M4'A055(`A2\?Q5MN<E'MY)*F;@T&[FE8NOZ9'F'Y1JZ+7\W.YJ-Q`FLT5D`<
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MD(EV1)%8*[QIQ3,,Y`JK*8CZK?+=.SM[F*%3Z_B*$-D(EUL`2EOEZY5*O+*+
M0#&6NW@9JX9JO40D<D3C^GN559N>!4C0KT+HPMO6J&?LR/<>XXJ5G?42,V_X
M_P`YO\K/T6S"#;>$Z;LD;5:>YCC.3R3"<*UI5P5ET)!!LM'OH1=D**A0%QH,
M75^(AM]M7=BS1#(\=&N(VO6&AS,S1GK&+S!3[-D*/Q=&W;%*P.EE[/51N,Q!
M-%)%PWBU31M@@)YLU<PDU'/W`5!F3B?4RBWRQ8[Q[CFRY`DJW&WE@^M#Q=O7
MZ*GD:NYHJNW*O4M28+Z)2((SV<;03'[J:2AU6\=*QT@D1%THV7*D%DI\2C;F
M*THFX9Y38I+1\A)XO=OL>2*#?<*VB+]7\7RW@&+W29S>%(Z]7"F0;@KAM"]-
M.WU^;;"O77AY=$(I,\37$C"ZXRJC&LV]U)79YD^IS>/5XM9/.D'E>A6&M5Z/
MQ;%XN9`_&PV"6+)V&T2D@UGTJ[7Z%5Y"]O)@]50?RS`/I*V6%PW;N!16;"NB
MDL+=R4I'"`JIE.*+@A#J$(LETN@J4JARE4*8"G,``(A[M`T#0-`T#0-`T#0:
M;Y,VMWBZ9LL&8:;N3O\`B@ENQC4\462K5JG8WF2'KU9G;C-JOZ_8[379:<K5
M@ES7-VBO),U5DVAXJ%=M6I5VBG7AJ3,\&O;X\RO4\F0MFF:^%#DJC,TYOWE8
MTL-Y@'U*QZICJ$8,,V6:JRN74:HFQ5-85JDE:THE>W<YU<JJJKI)P!OP>L0'
MRQ@O+DYD.5LD_@I]MXEH%>6Q=AES/+2&VP#ITIG#7A>DKW2@5.5)U#JSTVAS
M4#"2LTU3F123=+/2N@V<SCL@@,]95CKU;\I7SO)1D*1/R.(C(5V5K1;50F-N
MB(RRTR<EXMY:<924U"7![#7$U&DXCOHCFK9!^8.M?"["HTN&DS]`*@U>;C\K
M2ENQ:TPK7L/720K^.%E*!1\#V6/M5+JQJV2L)5RU*N9F(AI2=L5A9.9E_,0D
M+*I+-%HY(@AFF/#5Q\ECJ[4F8RKDVR3MSIN)Z^?(4L:MFLL3:,19RR+N*A\A
MLFR,,E#+6"=RED-25LS%TP5A).-K=>B`8(M6JG6A$\E<*W&^:KW2LI9JR&XS
M#DB"A4JK:;;E#"^WR^N;!4F=V?7:,@ZE'6W&DS$XF/&N)21BDYFB,F4P[C'*
M99%X\<,F*[8/IDC$/&LI&K,I8S.NQT(O%=ZR$;&D9+.NN8C'R17I4"O6@QC-
MJX8H1[4Z4>HD],HJB*C=L)`^?TOP]"6B2N\/;\_7V>PSD/.*^>[7B`E1QY$H
MRMK&7C9UC&KW]A`EO`03&2A8@0;HR:+M=HQ*S,[(DH<1"M['PD<47VC5ZF92
MR5:<L%QG$4BM8/4R/2L7VJO8SJU#F4YB.A)"@R525IF2RS'4MV%F=7^(F%I9
MHT:]`&:R(*F"T,5<-7#6))NH35:EGC!.I.L72"%>K-,QKCNH+2.,;5ER])KM
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M4,5)B^.`!`<K\,/;OG#;[7<"9/>9#L!*S"7Z#C\A1U_M]-N"[;*SUPODT)9.
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MAB85J>.K+C:,F'<="73&K'%UL:U:C8OQ]`2=<>Y,-DO(;=G2J!3JW3H=#(JR
MKBJ2B#&%*I&U46S1BY,_:DD3A>#3:3"!A2ZX.E;[:9>NW?*<IDN0E3L8!C,I
MIR^4&F47M4.JRCDF[Z*<R#92#=/7J"LJZA'2Z*SHR_16`*OR1PZL7Y.BL@1,
MW=;TR3R)8=PENEG44I"MGC2T9]QY`8E6F&"QHU04E*+C.#-3:XW,!FSZ)E)%
M.>3D3*@)0A>W#A>8OVTOK1.4FZO6,_9;EDG("*M0QMB;%E:K-KR)A/&&#1D:
MM1,:T^N5&'+7*_C49B+30BQ.[GK=974RM(%<HE3"#2W!HVLAC;'F*:;&P=5H
MV*756DJ'3I;%&(\D4.+FHC%CG$MHL<C0<A4^?JE@L]^@U&4]8+',1KJ83NL6
MTM#-VF^5?=V!N%@W:)2,"N,@,ZK+N%J9?*/C:B=XZ=:IE:A*Y%8XIRU-;E@$
MJ;`5Y!@TF6[I_*NX9JT;0T?+R<FYAV3(CU1+0:R0W"_B(2HU"OMMQ>57,WB*
M+PS2\!6B2K^.7I\0XKP9:(:U4_'C.!&LIPEN;/GU=K86:PVQO(STV>KUERJZ
M27AR&6#,57AD4:O.Z0>4R_DBXQU;7K<U:65E84UR[R+=8+/%KW*/;G89A"!0
M?,)2R9AM1[=--H,T>P._B(H[5!L*!Q.&.;<+ZK)L:>9YGC*4I9\*QT%!;8K.
M^B:&8^WZ`@K_``.11804*G7$XBX/)Z8J--CK1+W1O*OIF!IU<CA,V,S<.'@2
M&M<,C#=?NT1F!U9+#8\^P\S7K8USC.PU0<WMI=`R8ID?)T]"KD@TV=<;9C;N
D'6.;G`02#&)3QB9G5(Y%%*-9N4P^DV@:!H&@:!H&@:!H/__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>30
<FILENAME>g908770g79a02.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g79a02.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X7.*:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](EA-4"!#;W)E(#4N,2XR(CX*(#QR9&8Z4D1&('AM
M;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN
M=&%X+6YS(R(^"B`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@
M('AM;&YS.F1C/2)H='1P.B\O<'5R;"YO<F<O9&,O96QE;65N=',O,2XQ+R(*
M("`@('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(*
M("`@('AM;&YS.GAM<$=);6<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N
M,"]G+VEM9R\B"B`@("!X;6QN<SIX;7!-33TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+VUM+R(*("`@('AM;&YS.G-T4F5F/2)H='1P.B\O;G,N861O
M8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C(@H@("`@>&UL;G,Z
M<W1%=G0](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP92]297-O
M=7)C945V96YT(R(*("`@('AM;&YS.FEL;'5S=')A=&]R/2)H='1P.B\O;G,N
M861O8F4N8V]M+VEL;'5S=')A=&]R+S$N,"\B"B`@("!X;6QN<SIX;7!44&<]
M(FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]T+W!G+R(*("`@('AM;&YS
M.G-T1&EM/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1&EM
M96YS:6]N<R,B"B`@("!X;6QN<SIS=$9N=#TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+W-4>7!E+T9O;G0C(@H@("`@>&UL;G,Z>&UP1STB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+V<O(@H@("`@>&UL;G,Z<&1F/2)H='1P
M.B\O;G,N861O8F4N8V]M+W!D9B\Q+C,O(@H@("`@>&UL;G,Z17AT96YS:7-&
M;VYT4V5N<V4](FAT='`Z+R]W=W<N97AT96YS:7,N8V]M+VUE=&$O1F]N=%-E
M;G-E+R(*("`@9&,Z9F]R;6%T/2)A<'!L:6-A=&EO;B]P;W-T<V-R:7!T(@H@
M("!X;7`Z365T861A=&%$871E/2(R,#$U+3`T+3$Y5#(S.C`P.C4X*S`U.C,P
M(@H@("!X;7`Z36]D:69Y1&%T93TB,C`Q-2TP-"TQ.50R,SHP,#HU."LP-3HS
M,"(*("`@>&UP.D-R96%T941A=&4](C(P,34M,#0M,3E4,C,Z,#`Z-3@K,#4Z
M,S`B"B`@('AM<#I#<F5A=&]R5&]O;#TB061O8F4@26QL=7-T<F%T;W(@0U,V
M("A7:6YD;W=S*2(*("`@>&UP34TZ26YS=&%N8V5)1#TB>&UP+FEI9#HW,S9%
M,#-#0D(Y139%-#$Q.#$V03A",T-!-C9"-49#,R(*("`@>&UP34TZ1&]C=6UE
M;G1)1#TB>&UP+F1I9#HW,S9%,#-#0D(Y139%-#$Q.#$V03A",T-!-C9"-49#
M,R(*("`@>&UP34TZ3W)I9VEN86Q$;V-U;65N=$E$/2)U=6ED.C5$,C`X.3(T
M.3-"1D1",3$Y,31!.#4Y,$0S,34P.$,X(@H@("!X;7!-33I296YD:71I;VY#
M;&%S<STB9&5F875L="(*("`@:6QL=7-T<F%T;W(Z4W1A<G1U<%!R;V9I;&4]
M(E!R:6YT(@H@("!X;7!44&<Z2&%S5FES:6)L94]V97)P<FEN=#TB5')U92(*
M("`@>&UP5%!G.DAA<U9I<VEB;&54<F%N<W!A<F5N8WD](D9A;'-E(@H@("!X
M;7!44&<Z3E!A9V5S/2(Q(@H@("!P9&8Z4')O9'5C97(](D%D;V)E(%!$1B!L
M:6)R87)Y(#$P+C`Q(CX*("`@/&1C.G1I=&QE/@H@("`@/')D9CI!;'0^"B`@
M("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A=6QT(CYG-SEA,#(\+W)D9CIL
M:3X*("`@(#PO<F1F.D%L=#X*("`@/"]D8SIT:71L93X*("`@/'AM<#I4:'5M
M8FYA:6QS/@H@("`@/')D9CI!;'0^"B`@("`@/')D9CIL:0H@("`@("!X;7!'
M26UG.G=I9'1H/2(R-38B"B`@("`@('AM<$=);6<Z:&5I9VAT/2(Q.3(B"B`@
M("`@('AM<$=);6<Z9F]R;6%T/2)*4$5'(@H@("`@("!X;7!'26UG.FEM86=E
M/2(O.6HO-$%!45-K6DI29T%"06=%05-!0DE!040O-U%!<U5':'9D1SEZ84<Y
M=TE$375-04$T46ML3D$K,$%!04%!04)!05-!04%!045!)B-X03M!44))04%!
M04%104(O*S1!1&M&:V(R2FQ!1U1!04%!04%F+V)!25%!0F=114)!545"9U5&
M0F=K1T)164I#=V='0F=G3$1!;TM#=V]+)B-X03M$0D%-1$%W341!=U%$0310
M14$X3T1"351&0E%417AW8D=X<V-(>#AF2'@X9DAX.&9(=T5(0G=C3D1!,%E%
M0D%91VA54D92;V9(>#AF)B-X03M(>#AF2'@X9DAX.&9(>#AF2'@X9DAX.&9(
M>#AF2'@X9DAX.&9(>#AF2'@X9DAX.&9(>#AF2'@X9DAX.&8O.$%!15%G07=!
M14%!=T52)B-X03M!04E205%-4D%F+T5!84E!04%!2$%114)!445!04%!04%!
M04%!05%&07=)1T%104A#06M+0W=%04%G241!445"05%%04%!04%!04%!)B-X
M03M!44%#07=11D)G8TE#46],14%!0T%1341!9U%#0F=C1$)!24=!;DU"06=-
M4D)!049)4DEX459%1T4R16EC645537!':$)X5WA1:5!")B-X03M5=$AH37A:
M:3A#4GEG=D5L47I25&MQ2WE9,U!#3E51;FLV3WI.:&156DA41#!U24E*;TU*
M0VAG6FA*4D92<5,P5G1.5DM"<GDT+U!%)B-X03LQ3U0P6EA71FQA5S%X9%AL
M.5=:,FAP86UT<V)7-799,U(Q9&YD-&58<#=F2#$K9C-/16A984AI26U+:31Y
M3FIO*T-K-5-6;'!E66U:)B-X03MQ8FY*,F5N-4MJ<$M7;7`V:7!Q<75S<F$V
M=F]204%)0T%1241"455%0E%914-!341B445!06A%1$)#15--545&55).:$EG
M6GAG6D5Y)B-X03MO8DAW1DU(4C133D-&5DII8W9%>DI$4D1G:&%357E7:5DW
M3$-",U!33F5*16=X9%5K=V=*0VAG6DIJ6D9':61K9$95,SAQ3WIW>6=P)B-X
M03LP*U!Z:$I3:W1-5%4U4%)L9%E75G!B6$8Q95@Q4FQ:;61O85=P<F)',75B
M,E(Q9&YD-&58<#=F2#$K9C-/16A984AI26U+:31Y3FIO)B-X03LK1&Q*5U=L
M-6E:;7!U8VY:-F9K<4]K<&%A;G%+;7%Q-GET<G$K=B]A04%W1$%104-%44U2
M040X03E5-'$W1EA9<3@P:W5V3V8O2S%6)B-X03LX<TPU:VY&:RMK4V%W1BMR
M5U9!-#%*63%H+W5/9G`K9S-P+V$U9G1C<31Q:S)P9FYV95A%=6@R,FHV5W--
M=7189&]B95<W:UE,.51K)B-X03LQ1C=+45,P:E!O>7-9=6YX559I9'ET3597
M*V5V>G)V63=,>EIP96EX3G`K<39*87I83G!Q85!$8V\S,5<K:71*055:2&I"
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M8F9N34HY9G0Y3R]1-5<P)B-X03MU3#=49%`X07)8,6ES9V96<D4S,$1E;#96
M0T9694PO=D]V4W5+<$@K85AN+T%--&%$*UE(-DHP<E4O<3ET4'!T:&-7,&,X
M5G4Q;D9C)B-X03LS1W!F5FYE-6Q-9G)*0UE627%(,F-J<&EQ865A9GIF94\Q
M,2MY,#8R;71,<3)J,74S,#=59FAD:&5A3%IR8W5Z=WE2<V=I8FY21TI0)B-X
M03M+;E%C:&EQ4V53+WIN,7A.3&%05C0U9&,Q93DQ2SEG,#)/3D5H+V1796XR
M,3`P43E#26=U>GI(:'E!-FYK=U9C5E1J42]W07IT63AX)B-X03LK9&9+>E=!
M*W`K5SE9+U1-9C%6>6IY>B]!2T\T2VMS<4Y#:VM"-7-F:$5H<4]T35979G`O
M.'IB=CAZ.64P9E)B;C9Z<&UJ-FIP9G)1)B-X03LS2S)I5SA6:&17:&UU5DQQ
M:3-,4T9Y4%-+.'%F=%EQ=6DO4%,U4&PS5#EC;CAU;4LS,5,Q=DPV>5@V-')C
M;TY/:&57-35.-E$T>69!)B-X03M"1VXW5F5O;V-644XW*V,R<5AN;4Q43&Y3
M24=H,$=+9E8W939T2C)22F)T.4XP=S-N>'$P3'9B9U--;U5Q-7(S1D]Q<5EA
M5BME;C92)B-X03LQ;7DP85!25FHQ1%5R8E1R:7E$,V1)4V11<UI,-S`U2D1#
M3T1,-EEJ5%DX>68R8U95<DPX-4YC=#E,,3-63E<P:4PP-TA76#`Q25E:)B-X
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M3&Y53DLP.4QM3SA::U`V)B-X03M7<T=V:VQ&8F134D=&-$5':%!88G!I<4(P
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M;RMJ2#E:.5`K5#%Q8RM0=%A&5DM8>7@U)B-X03MB;$5O;#!M>FM&=S9Y>FAR
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M03LP-GA8459J1C5A>$<S:E,S4DA4;C9I>'-Q<6YW=%4W1$951'`Y>C5",5AZ
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M=$8O4G1J<48S3F-24U=C>'-P8E(T,%95:T5K1$=B;%9J569Y:S!)0W`W-5$O
M3'IZ1EDK561F.'0V,6-7:FI63%DR,79Q)B-X03ML<5=.>GAL=&916EHO=T(Q
M040V0C)I64AD96]"-G%P6F8O;#$U,74O3RMG95HT5C`T5RMM861:,D8W<&PU
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M<EDR<G8K5E=E4B\X06QH;2\V5$QZ+W%T:F%U+S566C5(+W=#5T=B+W!-=E`K
M<3).<3<O;%9N:V8O04I96G8K:WDX+S9R)B-X03M9,G)V*U9795(O.$%L:&TO
M-E1,>B]Q=&IA=2\U5EHU2"]W0U='8B]P3790*W$R3G$W+VQ6;FMF+T%*65IV
M*VMY."\V<EDR<G8K5E=E)B-X03M2+SA!;&AM+S943'HO<71J874O-59:-4@O
M=T-71V(O<$UV4"MQ,DYQ-R]L5FYK9B]!2EE:=BMK>3@O-G)9,G)V*U9795(O
M.$%L:&TO)B-X03LV5$QZ+W%T:F%U+S566C5(+W=#5T=B+W!-=E`K<3).<3<O
M;%9N:V8O04I96G8K:WDX+S9R63)R=BM65V52+SA!;&AM+S943'HO<71J)B-X
M03MA=2\U5EHU2"]W0U='8B]P3790*W$R3G$W+VQ6;FMF+T%*65IV*VMY."\V
M<EDR<G8K5E=E4B\X06QH;2\V5$QZ+W%T:F%U+S566C5()B-X03LO=T-71V(O
M<$UV4"MQ,DYQ-R]L5FYK9B]!2EE:=BMK>3@O-G)9,G)V*U9795(O.$%L:&TO
M-E1,>B]Q=&IA=2\U5EHU2"]W0U='8B]P)B-X03M-=E`K<3).<3<O;%9N:V8O
M04I96G8K:WDX+S9R63)R=BM65V52+SA!;&AM+S943'HO<71J874O-59:-4@O
M=T-71V(O<$UV4"MQ,DYQ)B-X03LW+VQ6;FMF+T%*65IV*VMY."\V<EDR<G8K
M5E=E4B\X06QH;2\V5$QZ+W%T:F%U+S566C5(+W=#5T=B+W!-=E`K<3).<7EV
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M5E0W>6<S;4)T3VY/=4QC3&,O5UIF448R3%%3+U8V:C`V;7I:;VHK1$1O)B-X
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M5U,W+V5M:'%0<V=H9'-+)B-X03MS.70O3&UI-G`U5S!7,'1B;68X05)52#%3
M.'1P5D-P3$])94TP5'EL-"MA<WIH6D=+:$@U9'AV9U9,.5<O2VI13E=J;2MV
M,V0U3&14)B-X03M85%AN,3!.0VMY>5!B>%<U0T9);%%,4S-2<6-F=&4R,DMS
M>E)!:4MG<5%O04)9;&IT-&LQ2BMN1E<X5F1I<G-69&ER<U9D:7)S5F1I)B-X
M03MR<U9196]A,6\R;71%;6\S.79:=DU(849B:59):39X1&Q)5D1K5D-+8714
M<&EQ<&$V:G`Y,GI,85A53G=Y2VIU<U5I=5975F558DAI)B-X03M444]U-FYU
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M03MI;%-U.5!$0W(P<CAX,%HO2T8R:3`U3DYA059)07%B=4ED5'1K46PU<$YO
M1W)1>&E34T5"0TI#<D-333%%4S@S2S!9,4%5,3)Y4TAP)B-X03M8;#=7=$\P
M=GED-5HK=74V0S9T8D,R:%I)<%I2-FMS8V-A8WI'<FE.4S=Q=DHV3%5J9DEP
M6#9N*UEF:R]3-V=7,3EF;4=C,T0R9G`K)B-X03MJ3W@Y84Y9,UI4>&IA9S1Z
M;V58,F0K=4MS:GA6,DMU>%8R2W5X5C)+=7A6,DMS0C%A1#@P-%!-17IA6&-0
M9#9,3$Q.=VIM1FER4G(V)B-X03M%8E)C2$-X=#9F<7EY3'AD6&8X061R5F='
M2DI6:S-L1"]%4"M'9$\O>$@O>#-"0T)Q0E!P8GEJ<68S4#=S5C8P6%E91EEP
M-2]8>41Q)B-X03M7=F%C9&$Q1SAT9%0X=G4X;'5,4T=6,5=39%DS5FY)9VU6
M=5!"2%9A,'(Y;TAP:%9R.'5)9GDY,%<Y:S`O=T%U,S$U3$YF>'=X:4,V)B-X
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M1TM%,2],9E4Y56XX>G9"8S-T>F-1;7EM9C`U-7!*5C5,3$-!=T1S,4-!>'A+
M:$@O;6)A)B-X03M'-S%44EEL:U-)*VAF34=K-4%(:6)C,'%O8G0T-V5/255S
M4F)2,F<Y1S1.,4$T4V4Q4'!R-FY)*W))<%=N2D9(444W;F]+.4M95F5N)B-X
M03ME9F50*T5.5#5B<C91<CAU82M'04I906<X<FE9:'IB;%!6:DE)*W5C4%1%
M6#<P9$]11%`Y;G%1979W-%5--B],;T%E54Q-03%!:W5Q)B-X03M%9CA!359,
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M4%-:9%%T;SE6;5501'`W5%)R8T]P-45-<U)036HT1S-!-TAW>%9'1U--4TQ'
M5T%K649L4V\U1E9)1$5$=TA)5BME2W%')B-X03MO-FYP=6U7:EAM<%AC3FQA
M2596-VDT:U=+348R0W%#-VQ62$II05!F1E93,75R5S=T;W)Q,6U3-'1P,45K
M33A40C0S4FA65U9L2D1!)B-X03MJ;U)I<7)I<G-6944V9F-E87`W1S-L5SDQ
M5U%01D=X8UA.,G=03#1186@K-T%J-35*1#!4.'-*=%%K,'I6178U<FEA84A5
M1VI(,7%3)B-X03M34U)!3&%"=49:4WI!8VU*<&=+5U`V+V]V-E(X,F$X+W%3
M4FE";T1666I)<$IT;V9H-6-L;S=F<T1U9'1S54PY03!*.4LX,S90>6U7)B-X
M03M94WDS86-K1D(K-F=K2%=U.5%19F)P5W1C5E1R.'E28D8Y12MT1D)B+U=:
M4%9-;G%&865K,U@P=FHK-T5*659Q63AS9F]8575*6#8Q)B-X03LY5E`Q9FE:
M>4)*>6QQ4&E#,2]D*VXQ,B](0V@V<C5S+S526%=F*UE'-2\U371K579.23E8
M,%I)3&-E:TAL:CE)4V<R9'919TU42CA2)B-X03M:<6YI,T5%<C(S,S-%:TUY
M+TQ'47DK6'`U0W%Q6'9B:&EQ04MO<7=.1D$V1$%5<UAV=&545&9-;7-O56YD
M:F5I4E1&3TEL0E=.9C)4)B-X03M(2C$W*S(S4W160TXX:6%L2&5E87)D16=%
M071T3&UI,DYE5DIR9F5G0V=63S4Y>FE65B]Z4W5R<3(Q2%)P3&%:-$A-3C9P
M94YI:$E,)B-X03M7.5)64TYS47!956(V.75B<3(K<UA%:S%:-V5V<4]Z9EIL
M2$AQ5#`U1VYZ=W$Y5R]-2&PO9WI694ML,CE(6E)3<"M)94I!>4E3.&0T)B-X
M03LV:B\Q8C5V*T1T+RMQ=5-1.60O3&)N+V<R>35O63,Y4S8U23%#469R5798
M:5=(-#5%<&57-G)A-G,K=&%Q,%5.=3!:,4,X-&PU;E9Q)B-X03MF5UI/;T54
M52LO2DE:9CA!;$I$95(V:G)9=55J4FI$6F-213=30VY+-39L:VIW1E5,*UHQ
M;F4S2&UE3#9V4$A#1G-O=5AQ4DY,5W-S)B-X03LS4VMK9$U1<DAT23`S56]T
M8C!U4V$W:&MJ5RMT3U-*039-9CE)5&]X;65N,UE696YF;51%6G9*,35%2&%0
M;DQA1&UN2&M0.$%3-'5N)B-X03M)35!W>4E3.'(O44QF.5A#-2LV,R]W0W%/
M4U$Y:3AM3'@X;C9%=%-A869A0W`V;6M#94=24VY'2W5X5C)+<TXX-"]L9'!8
M;7)56DPV)B-X03LX,5158E%Y,G$R8W1T85-13$,X84=5,5I*65IA="LO8U90
M4W4Q3593569K1#523GI:,U5M;V%N3&-75&E62DAL9W$W<7-+0793058R)B-X
M03MT,4\S9F9R46AT5F)3+WE,.')A5EEA;%IA9&8V:&%286]L:7,W=T<Q:&17
M,#%L94M33F\W9$M337EC;F)E<$I);V-65WEF:U`U4FUU)B-X03LS=7`W=2MN
M;&,R>B]!3#,V;W=$,FQV2F)X='9B-R\S<&1G86AN-FEL4596;FQ4.&IT0S!4
M5C=F5FYU8FAR,G=U2EAS+U1A2E5E174W)B-X03M1:6-#1D=D,5=5<5=,13E1
M0T902$98<&5+=D0Y0CAY,W1L<%9L1$-Q<C9536%P24%#=T979FPX46-"=C-R
M2T-"4V@S0GE31V8O;&QE)B-X03M36&QJ<D9X27%O>C9J<VE$:7%H8E,R5E95
M94%!<&=+5T0K935U2&Y,5F@V8W(O2$1V2$9*25`X06573'5I<TU1:&0U0VU$
M*V-D34AP)B-X03MY<#A5,CAK57-9+S-N;#=U<6I%<7EF.$%.,'II,3!N,%E(
M=4<K<U-F0D=50G`V4C,O94UG+TA%2UAM9#AD4RMP6$A,5%HQ6#`S<7AE)B-X
M03LS;T)X3RLP>$]&6'4O;3)V*T9.830W;C9J8S!",D9F4F))<&5+9E5T8B\S
M>&)F.$%)*U0O04MO-4I$,"\X<3!M5'EZ27-Y<7-G=34K)B-X03M14FEY.5(P
M2D,O<7=&3$)F375N,S`S;696-4DW:4M.1&1':71#>D@W0SEX278V<TM%,B],
M4WIU<F9Z87AM;5-53EE804%337@P+V97)B-X03LO:3<T0W%A9FUL6C)L,7%'
M:DIC=U)Z<7-6-%975D9C03AR9F-"9V-1;&AO,&)2-#592&IS8F1(5V5%<7EX
M24-$-G$Y0T)H43E7.#EF)B-X03LX;VQQ6"]'368X5%A):$QZ9DI)96EE45`K
M559T=BM-=#$O,493-45P96986"](4C%(+VU0=E`X07%+:WE31U,O;'0O>#%D
M62\T=U=8)B-X03LO13=N055O9GHW+WEK=R\U9V]F*U1S*TE1:VQN+W=!9$Q4
M=BM9-C`O-FE9.$MS*R]-2"]L1DQN+T%)>E=N+U581FM1;#4U:VM05'9*)B-X
M03LS+TM)-DHO,GHW6"]!2DUR:U5P=FER<U9D:7)S5F1I<G-69&ER<U9D:7)W
M1%1T0C`U=%!T5U!R,6%+36UL>F-$<6\W0U1*265K+VQ4)B-X03MA>%<R;&%P
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M5%`X06IM,FXO1T=0+VE!>5-'9F9L;B]X)B-X03MZ.58O-V%"+S9H8F9!57-B
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M9T)31V]39E=39S9N:TM9<7`O=T-0+TI,5V0Y9#(K=#)D)B-X03LW1'!S4FYV
M>%I43&534E),<UAA2S--<VQ"+W$T<75I.#DK5%I+<3)S,G1T37)'3U,R=35&
M=&)H1TA0-%AG;CE/5D-2135(2E)50V\R)B-X03MX5EAT9DXO;$\W=D9S<EA7
M-T,T=D@T0DQA2S9H954K;VAK4VE+>%DX:TA*9'1X=FEQ8EEQ*V5,5'IF-6-T
M;S!S2C<Q579,5T-.<#13)B-X03MR,4,K9TI34E)A34%M-7`P,D(S27E32'%0
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M:#55.&PV4&]7=6%D4'`W5$PO<%9T1C94=GI8:3DW2$IU4T]:-&Y:871S2SEY
M4U98<FXU)B-X03MG+SA!2TM84"]'83`O=T-O=4Q!179'2E!)96IY4W=Y=$Q-
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M1C(V5D=+;VE$.'%V27--)B-X03M&,4)(65,K:F57:#`K-5)R>3A93F)-:TUB
M4FIL365.5719,4Q,43!8<G5C5E4W4#AP4$E&;3@W,BMN4T$S3F971%AD-4E'
M1%%3,C%/)B-X03M,>DU!0D1C>4M+9$LW8F=55E<V4"M5,VLS5&1C;#%S5VAL
M,4PV>#E9=%HS:VU*:$AP<$AW,VMB;E5X.#),,4I9,4]+<WEX5C@Y=V56)B-X
M03MT179)3&4X=5E$3&-V8F]N3U-2-49#;$(X26IC=$AX<G9X-#AA-S!Y4TAP
M;C52,D9P<"MH-FA:,FM9:71O8C1R2$=/=RMQ,C4W*RM!)B-X03MP63,U>#`W
M5#=R>EIQ<C-6<D1/-E-2<7)3>'$U0W1A46AG0W=/>$A814E8*U1B0WAT9DY/
M;6TQ=#1O1$I)-&-X27%C9VQR2T9R>$%R)B-X03MX2%1%<7E8.'EV<S96+WAM
M:R\U3DA%2EE,<68O04)Z8G8O:D1*+WA!-%505W9.9B]!0VDK<V8X04U$8R\X
M;5=Y2UAL,E-1>G8X="\K)B-X03M/1$XO>D9Z+T%+>&=+5T@V,2]Y:T=R9CAX
M5&8X4EA#:$UV268O2U9J+VU!=5`K5#%V9TMO>CAY9BM/;'!(+T='."\T;F(T
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M<G-69&ER>$A44#A!:FTR;B]'1U`O:4%Y)B-X03M31V9F;&XO>'HY5B\W84(O
M-FAB9D%5<V(X>B\X<%9Q,R]'5TPO<49H>$-&,VQB+VQ+3DPO04]-:W8O54Y,
M:594-SAY=G,V5B]X;6LO)B-X03LU3DA%2EE,<68O2$YU+SA!:D1*+WA!-%50
M5W9.9B]+3#9X+WI!,U`O04-:8DEP95A:2D1/+W=!="]W1&IG>F8X>&,O-GAG
M2U=(-C$O)B-X03MY:T=R9CAX5&8X4EA#:$UV268X07EL62\U9TQJ+VLY8C1#
M<4TO36XO04DV5VMF.$%'1S@O-&YB-&A,1D@K,40O04U:;V8K5'$T55!3)B-X
M03MV4%@O04-I5W!F.$%'368X5%A):$QZ9DI)96EE45`X06Q&8F(O:DQD9CE2
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M2G!I17-8)B-X03MB>D@U94Q253%3,%`W-DDO,SA845-+5"LQ:%$Y1#@V*V-0
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M-&LX=2\X058P<R\K4CA8+TY71D0Q1'E*<BMH6&YL>E)R3S`Q2S%U3'E/=W0O
M571O<&\S)B-X03MK6&I#;V%Q2WA955!827!:3FER<U9D:7)S5F1I<G-69&ER
M<U97>5-*2$<P:FUI24-Z2'=!1E1I<DA"*UDO:S<Q64EM=FYJ;'585TM+)B-X
M03M/5S)U63(Y4C=I4S%62%8T,4M/6F]*1C1T42]#5#EK5GA63F1&.'=A4G)C
M17,K;#-!=4EO2E!3;&)I-E59;W-G,F-+4T=J:U9L66)%)B-X03M%14A&541Q
M=FYR>79P3V]J5'12=3)T<G,P2W$P1352:'=-:D9:0D=9>4524WIK3E)"=3%-
M5E)E;BM:9$8Q0S1I=#=3-$UK,#!C.'-A)B-X03M'3U)+<F%Z9E8U+W1Q;W)(
M2V5*2%@V359B,3=Z2&\R9S)Q6&5R5&TS=&YD67I-235:15%S=U5.23!A=4DP
M-4U">F5I-SEC5E,T9FU&)B-X03LU4TU$>FDX:TUC655Y,'1R:VU-3DQ,0E=2
M9E0U2GAK='!&9FM">#0O1E1&5U%4>GAW45-4>59%8U-S-VQ63$AI;W%A2V],
M2#5!67%X)B-X03LV>"]-8GED97EI2S)V>3!P;&IT*T116$5:13!R26EX<TAJ
M5VI"<&\Q64@W2EIE5DMJ1E4S,&)79$\Q;7=7+S`K4G!B5FYL:4102$I%)B-X
M03LS3T-2;UI&2U-Q:FIJ2D=Y-VI&575U+U!F;&4P,6,V4F,S8GAA9T=I55).
M0F-54')Y96I'>78V9D)L378W=FM'-&AY1DIQ44U64D]M)B-X03LK879,*W`S
M3G1B5TXT<S%X9#)9,4=#14(Q63)R37%R2U%W0E5%=4YM;V-69')8;6I23D9E
M3F14;F$S16E3>6E4,'!8:D-W4E!02GIK)B-X03M21U)$-F-4<T%X0F%H<%A&
M54-F>D4X;FEA,FA.*U).9#-%1G!"1UE*=WAN=6UK4TI#1$A69FET-49B;%1G
M5DEA:'A63W13,4<Q,#9X)B-X03ML=F)O=4QE06-P1$9(2DTY0V%F1$A%<G4S
M6#EL8U934U`X>"]*5#AI3E514G)U,')P2VM96#`U<&52:UI!;D5*87I6871!
M55E(8U5X)B-X03M64$Y0,4,P,4=X9W9R3B]5=&)L0DI$2GA:95-.=41X64MW
M*VM9<6M-,S5K*U1)8FDU='!R-31P-U`Q4')-8C(Q>7!8,&]'=5-D-#EW)B-X
M03LP2TTV16)/1E!'=$1I<6$V6C5G,'I5-W4Y=$Q2<%10<#=+=#!S<T4X04)K
M<55+3DUI3$ER0F%H:TI&4&U-5E$K=2MC9DPR:%A%3G9Q)B-X03ML>$I"3&-C
M9E%#=U1Y:#)D*T-O<E)2=7!K6G5I5C5(=WA64VDX.2M62G`W4T-++T1Y,SEW
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M9VMQ;$=-8G1'-$1#:#1U:%8Q4&=624DW67%X>3`O3%AY8F%-:E%78V]E3U-#
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M03LT8VIW-#%/2W`W639B6E=0<D<R46]B:#%K;DI:,TQ/:U-12U-83$@K-VA1
M9E)8<EA&574Q>GEF;T]U6%56>G%553!S<T-H26=L,6-W)B-X03MO;T5I>6<K
M;D1*1VY)4U)O,TML87%U*W=X5E)G.&<K531*<F%72WA+=F%8279B8CDY4'A3
M8U%P8F=H4R](:4EO555*5&E+9$LT<6UE)B-X03MS-E!9-GAP.&UN,S1K83%M
M-"MO<TTP,75X-'-'03E30C0S<%5B:FQV,WA62FHK5R]K.%)02$9:1TE32DY'
M,4I*2%AH8W!$2$EP4U9P)B-X03M)>79#,6E6459)44M/4$A&52LP*W=S.4]S
M3&)4-TM)45=D<$5K1G1#=&%*2$=O5D9&9D)2:7%)>%8R2W-2+W=F-7<O-FYV
M52\K:U13)B-X03MF*WE01E5(9#94<D9N9%%7;#,K6DXQ8EAD,%%T=&)Y=S9-
M:VMP63A123!A,41.5FI48D956B]G+WIH+S%097`O.4EM:R]W1%I(:7)V)B-X
M03LX2"MC4"MP-S%0.$$V4DY*+W=#>5!&6&8T4#A!3T@O53DV;B]!3DEM:R\X
M05I(:7%Y8GET-7%G:65A8GHY<4U536%L<$I(=&1)5E95)B-X03MB:VMM,&]!
M3593<FLS,5)R>B]L83<O5D5D23-U2V%(-F%V3%@P,4PO049B:4=E;G=J=FEQ
M=D1:86A.3F%W42]M9&-35#,P8E1755-2)B-X03LV2WIZ4G`Y<#1L1G)6,5AU
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M+U-*<%`O6DAI<G8X2"MC4"MP-S%0+W!%,&XO<VIX5C,K1"]/2"]5.39N+S!I
M850O04YK94MU+W=F-7<O)B-X03LV;G95+W=$<$4P;B]!3$DX5F0O9R]W031F
M.50S<68X03!I850O=T)K94MU+W=F-7<O=T-P-S%0+T%+4DY*+S=).%9D+V<O
M>F@O=T)4)B-X03LS<68O045I850O,E(T<3<O04%F-7<O-FYV52\K:U139BMY
M4$989C10.#1F.50S<68O4TIP4"]:2&ER=CA(*V-0*W`W,5`O<$4P;B]S)B-X
M03MJ>%8S*T0O3T@O53DV;B\P:6%4+T%.:V5+<W5X5C4Y-6\P:GIB8RMA2DY5
M,%A415,T:&=L='9R1C`X1#)T,49$03%Z66MP>F%62F]D)B-X03M28C14=T%#
M8VI8;TU64WI63DDO3D\S,#4W:E)X9%A&-#<R,V\R='IE;TA6-V%Z=4=L;FQ0
M<6U,:F-88GA)6559<'A7=$8W1EA74&QJ)B-X03LX=W)73TLK=4IT5'5N*W17
M;')0<'<Q04=1861&85)P8WI)5VY327I4,TUD5UEU1U9#>%-J2&163F1.,'9Z
M;F(K6F)M-W5&=C5.2#`K)B-X03M)>F%06697-#,Y9'!)6&%31S1K:VYQ.&=M
M;4M+2D8T2T51:5199W%O-WID-60Q3V919$1T8D-/92]G,#(O=&)N5610;6Y7
M4S1U-V%!)B-X03M-5$4P='<T4U)H2U5F-#-O,T=L8T-P6C4W,$QZ5C5J6%-O
M=$US2#!I5G)P<C8V,41L6GE347E7545H<U!84FUD6"\P<&MA:6,V0F5O)B-X
M03MR<W%H9$0X="M:3DEU3%<W=$Y$94MC-D=T;F%2;64S8U=M;UA.>$IC6#AL
M>3=3;&U6-6I'+TM)4%=H,D=W=W%M=FUR>3=Q;S`O=T%R)B-X03LV2G!&9SDW
M<'5L>GAZ,V(K<$9(4F1/=#-A,%$X-4DR2FMU;&DS5W1+16Y!<D=T1#AL9FU&
M1G)E;5<K<U0S*V]A8F%Y5V1X9#-K=6]T)B-X03LV8VLQ=&%33V8S66Q,:$1D
M>G%#3T<O<$Q7;TI*2V\S5%!+,S5H86QB85E.8W9T47,W;35U>DQR.&QV965I
M:5%X47IF=6):64HU0W%4)B-X03M3>DM!-FM.>%5F0VI!17%O0T1Y+RMB1G)R
M9'!C3S)O6%9H9'$W-G)#=6]2,&A3-'9*6G9Q.$-Y5$1I,$558TUF<7%A.%AF
M:3%10497)B-X03LY2CAR+VU)8DLV=611=&(S.4M08C)6<$)(2G%F<6A%=4PX
M,T=O37)'6G=F5&EC24]85EDQ5F$Q3TMO<"],4#5O86I&66UE*W9.3G5:)B-X
M03ME0V%Z3$AD<E1N2F1X>GE35WE*23!A4E%W471$2%)1>BMP5C$R3E96=6YA
M5"MA9G$K6&)7-VAV1G-O2F]B:2]M3V]+,&MF2SAU3&EE)B-X03M/9'A-6&Y2
M15,S:5)F:DA";7)V=&ER3F9)3VYA;%DK6$4O4VQS8E163'5E-79B-D5U:VI#
M839N95IG5VI,2CA04&EV1FE/24="5U)9)B-X03MQ-T9867$W1EA9<3=&6%EQ
M-T9867$W1EA9<3=&6%EQ-T9867$W1E@O,E$]/2(O/@H@("`@/"]R9&8Z06QT
M/@H@("`\+WAM<#I4:'5M8FYA:6QS/@H@("`\>&UP34TZ1&5R:79E9$9R;VT*
M("`@('-T4F5F.FEN<W1A;F-E240](GAM<"YI:60Z-S(V13`S0T)".44V130Q
M,3@Q-D$X0C-#038V0C5&0S,B"B`@("!S=%)E9CID;V-U;65N=$E$/2)X;7`N
M9&ED.C<R-D4P,T-"0CE%-D4T,3$X,39!.$(S0T$V-D(U1D,S(@H@("`@<W12
M968Z;W)I9VEN86Q$;V-U;65N=$E$/2)U=6ED.C5$,C`X.3(T.3-"1D1",3$Y
M,31!.#4Y,$0S,34P.$,X(@H@("`@<W12968Z<F5N9&ET:6]N0VQA<W,](F1E
M9F%U;'0B+SX*("`@/'AM<$U-.DAI<W1O<GD^"B`@("`\<F1F.E-E<3X*("`@
M("`\<F1F.FQI"B`@("`@('-T179T.F%C=&EO;CTB<V%V960B"B`@("`@('-T
M179T.FEN<W1A;F-E240](GAM<"YI:60Z0C`R,3@P0S=!-S-!13(Q,3A!1#=$
M.#!$048S1C,S-44B"B`@("`@('-T179T.G=H96X](C(P,3(M,3$M,S!4,34Z
M,3,Z-#0K,#4Z,S`B"B`@("`@('-T179T.G-O9G1W87)E06=E;G0](D%D;V)E
M($EL;'5S=')A=&]R($-3-B`H5VEN9&]W<RDB"B`@("`@('-T179T.F-H86YG
M960](B\B+SX*("`@("`\<F1F.FQI"B`@("`@('-T179T.F%C=&EO;CTB<V%V
M960B"B`@("`@('-T179T.FEN<W1A;F-E240](GAM<"YI:60Z-S,V13`S0T)"
M.44V130Q,3@Q-D$X0C-#038V0C5&0S,B"B`@("`@('-T179T.G=H96X](C(P
M,34M,#0M,3E4,C,Z,#`Z-3@K,#4Z,S`B"B`@("`@('-T179T.G-O9G1W87)E
M06=E;G0](D%D;V)E($EL;'5S=')A=&]R($-3-B`H5VEN9&]W<RDB"B`@("`@
M('-T179T.F-H86YG960](B\B+SX*("`@(#PO<F1F.E-E<3X*("`@/"]X;7!-
M33I(:7-T;W)Y/@H@("`\>&UP5%!G.DUA>%!A9V53:7IE"B`@("!S=$1I;3IW
M/2(U.34N,C@P,C<S(@H@("`@<W1$:6TZ:#TB.#0Q+C@X.38T."(*("`@('-T
M1&EM.G5N:70](E!O:6YT<R(O/@H@("`\>&UP5%!G.D9O;G1S/@H@("`@/')D
M9CI"86<^"B`@("`@/')D9CIL:0H@("`@("!S=$9N=#IF;VYT3F%M93TB5&EM
M97,M4F]M86XB"B`@("`@('-T1FYT.F9O;G1&86UI;'D](E1I;65S(@H@("`@
M("!S=$9N=#IF;VYT1F%C93TB4F]M86XB"B`@("`@('-T1FYT.F9O;G14>7!E
M/2)4>7!E(#$B"B`@("`@('-T1FYT.G9E<G-I;VY3=')I;F<](C`P,2XP,#`B
M"B`@("`@('-T1FYT.F-O;7!O<VET93TB1F%L<V4B"B`@("`@('-T1FYT.F9O
M;G1&:6QE3F%M93TB5&ER7U]?7U\N4$9".R!4:7)?7U]?7RYP9FTB+SX*("`@
M("`\<F1F.FQI"B`@("`@('-T1FYT.F9O;G1.86UE/2)4:6UE<RU)=&%L:6,B
M"B`@("`@('-T1FYT.F9O;G1&86UI;'D](E1I;65S(@H@("`@("!S=$9N=#IF
M;VYT1F%C93TB271A;&EC(@H@("`@("!S=$9N=#IF;VYT5'EP93TB5'EP92`Q
M(@H@("`@("!S=$9N=#IV97)S:6]N4W1R:6YG/2(P,#$N,#`P(@H@("`@("!S
M=$9N=#IC;VUP;W-I=&4](D9A;'-E(@H@("`@("!S=$9N=#IF;VYT1FEL94YA
M;64](E1I:5]?7U]?+E!&0CL@5&EI7U]?7U\N<&9M(B\^"B`@("`@/')D9CIL
M:0H@("`@("!S=$9N=#IF;VYT3F%M93TB5&EM97,M0F]L9"(*("`@("`@<W1&
M;G0Z9F]N=$9A;6EL>3TB5&EM97,B"B`@("`@('-T1FYT.F9O;G1&86-E/2)"
M;VQD(@H@("`@("!S=$9N=#IF;VYT5'EP93TB5'EP92`Q(@H@("`@("!S=$9N
M=#IV97)S:6]N4W1R:6YG/2(P,#$N,#`P(@H@("`@("!S=$9N=#IC;VUP;W-I
M=&4](D9A;'-E(@H@("`@("!S=$9N=#IF;VYT1FEL94YA;64](E1I8E]?7U]?
M+E!&0CL@5&EB7U]?7U\N<&9M(B\^"B`@("`\+W)D9CI"86<^"B`@(#PO>&UP
M5%!G.D9O;G1S/@H@("`\>&UP5%!G.E!L871E3F%M97,^"B`@("`\<F1F.E-E
M<3X*("`@("`\<F1F.FQI/D)L86-K/"]R9&8Z;&D^"B`@("`\+W)D9CI397$^
M"B`@(#PO>&UP5%!G.E!L871E3F%M97,^"B`@(#QX;7!44&<Z4W=A=&-H1W)O
M=7!S/@H@("`@/')D9CI397$^"B`@("`@/')D9CIL:0H@("`@("!X;7!'.F=R
M;W5P3F%M93TB1&5F875L="!3=V%T8V@@1W)O=7`B"B`@("`@('AM<$<Z9W)O
M=7!4>7!E/2(P(B\^"B`@("`\+W)D9CI397$^"B`@(#PO>&UP5%!G.E-W871C
M:$=R;W5P<SX*("`@/$5X=&5N<VES1F]N=%-E;G-E.G-L=6<^"B`@("`\<F1F
M.D)A9SX*("`@("`\<F1F.FQI"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.E!O
M<W138W)I<'1.86UE/2)4:6UE<RU";VQD(B\^"B`@("`@/')D9CIL:0H@("`@
M("!%>'1E;G-I<T9O;G1396YS93I0;W-T4V-R:7!T3F%M93TB5&EM97,M4F]M
M86XB+SX*("`@("`\<F1F.FQI"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.E!O
M<W138W)I<'1.86UE/2)4:6UE<RU)=&%L:6,B+SX*("`@(#PO<F1F.D)A9SX*
M("`@/"]%>'1E;G-I<T9O;G1396YS93IS;'5G/@H@(#PO<F1F.D1E<V-R:7!T
M:6]N/@H@/"]R9&8Z4D1&/@H\+W@Z>&UP;65T83X*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"CP_>'!A8VME="!E;F0](G<B/S[_VP!#``$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0'_VP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`#?
M`2D#`1$``A$!`Q$!_\0`'@`!``(#`0$!`0$```````````@)!@<*!00"`P'_
MQ`!/$``!!`("``$$#0@(!`0&`P`%`@,$!@$'``@)$1(3%!46&!DW.%AW>)6V
MM]4A-EEVF+2XU!<B,357<76U)$%RDR515I<*(R=&5-9AEM?_Q``9`0$``P$!
M`````````````````0,$`@7_Q``V$0`"``('!0<#!`,!`0```````0(1`R$Q
M05%QL1(R88&1$U)RH;+!\#."T2)"PN%BDO&BTO_:``P#`0`"$0,1`#\`[^.`
M.`.`:WV54[K<(E7@4S9Y_5:8%O@&+47JX:F&#I^K019G#U1A*O=7N`,4R8./
M`G2A5L&X6;#02,,/.%SYK)**"RF4/]`>_&ZF_#VZO=X.T^[[MNJS;^O]KZRC
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M'`E/XH78G>FA=M>'.&U!L.\56O;T[5XU3MFK42HZOM9Z\4IRE&[&H6#QL.FV
M1\:?S-$,LP)(8B'6XV^^R\I;BF'6!$*3VIJ<H6U;;-*YK$^Z#WL,Z-A=:`6Q
M(NQMN&NX^L]Y=@]>9NCFNJE;M0`=3=<*EO\`,::V/'H]$J0B81BI)DP5?L$6
MM>RR/6(K-E;FKA*+3@V9[4JMF2OKG%*=9\U"\5Y&T[9H^J:XZO;&MS^Y>H.F
M>[DJ7%ONM@[.N]'[0V0SKRQD+1BTEP")YK6V/7;.5$UI\R^>"0LH#Y]D'%1&
M0<,IS:J;AS:LZ^5]IK.S^.;I2M:=*[E7J*^2@\WJ\GN/K,)[,A8QJ_:+9WW#
MT$2?F8=CJA5&_03)NKVI-1DRBPZ36+"UYEI08&&!<$3V;G+CL\Y3Z<?(V+8?
M%]UW4MJV[KG9-/W0;V3JV\(^F6]9,&(9P0604Z_3^RP&Y1KC6Q1EQ8XMKZ![
M"I#0:R2-Q]@S8(+,9ZON2+?&$;#E.=4ISY[,JY7XRJXU&6K\5.A1MF:-UZ;T
MULREKWU?M&ZPK$+8/L=4=D"K5V`T@7W/4"-AU7+Q(-B:2`D`RVJKV>GD(IH%
MM`,>#CJF>$AWS:Q&S4ZU4FWA4Y6XWJZ5<SY>HGBIU7M=L?3>OVM)7773>]]:
M]A-@Z^L9>S5>P09;O6C=CFD]BA2,$2XV1&)>+^B*UPG(9QDG%3,CR1X[+,20
M0$N!I-S534Y<5-%:'B"^(OV4ZW]ON[6J*QV)N=4&UO0O62?U8JV=9:7)Z]$=
MA]U7*2`ACMI;%M6K)$6GZM.9%JC&K+LW85=$!(\N=[&6B$:=",H'4,"<,+E?
M%M>%8*=N599G9?$^JFG[.>UIN&HR95IT/.Z5ZY[77.F2VTU*C;?[G1G(=/C4
M0(12\8MU.!%FX):W$GYHR:$JUF"/!(ER+Q38L<.=F:FK]II7RAMGAPQZ%8FH
M?%$[`T,EU0V+V$W58+3J&0UXTU@WX,BZ^U2R6M]0Z.V^!_1$D8FNTFM2X5B`
M5Y^6*9:`DZ_$M4W,#-D];>R]+4.G`OU)*N=&E6_W*OJRPY_Q5QMMEZQU+5]'
M[8";J[!S;2/U5B5B("IL^H5KK0$[(6W:]2V+>*M'KMKB40'98=%EBF:P1B2-
MOCIM:<=>J:6;?,'.Q:YJ2MQMV9-+K;96JZC4`'MYV6/?_#].=U']L3X?9Z+U
M%L^WOZ4X-0UNEY^[5Y\S)C37Z=+I<O7GJ<IL>S"FCV:BS&5&4XJ,B++4F4@3
MLKM=F56U*5=G69@=![[=SM!5,CV8WU6;[O+IV>TST9'U`S9*]JW5^UC'9+?I
M"G4_8*=;"!%8UXDSK&";N`PC,E[`$!XKDY]>*):R`"*N-P-E.I513BQE)*:Q
MK<KN:)6;`\6JKZ:;V(UNO06P-:&=`T?5^Q^S%>F6RC68CJBG[KW^1T5K.<%E
MU`B;`[$FDX8].VSH\<8#*`ZZ(0&&GRM[7(ID81L-RDYSG+BTINJWAGPK(X6S
MQ1MB7[MCU$FZ6AV(%U@LFSO$>UA<A9=S7[R.P,SISH:WV%HQ'S*JIB[:U$QM
MG5V1BK3Q-B:E6,1#5*M`(>RIH+.$J%2BG:E"\IM=:F;7@^-OI5%3@W.R:GOH
M$2?Z;Z"[@59EDO7R9`S`[';F1H+7NL9#.5#XHRV*V0ZTP4*KFR:Y`KKS9UZ?
MC+<R!$$;#Q6]%#_JIM]#-]A>(;O"C]I=2Z4-]9"E:KA+5?<S:M^A^S^+5L&Y
M">KQ$0*#R-)B`X=#5C";$@FX%FHZ3S=:L]J>)0@,\-3%#GI!\1LJ3<[X5UG:
M^7(WAI_Q`Z+O+IQN3N#KD8"ME;U53[Y:&0-,N\>V2C4VB:G%;+)5(HUD&"L=
M)N<(B1DT@W4+?51!\<8%.E(L,E6BU>,E@<,HE#.V5;XNW*^9J#IG>NP?8#I#
MUI[B7GLH1KUJOX^L]@=N!!]-H;FJ_P"BN2?=LUFU*`"IJ,ZTUZ%7:"V^!%6>
M+9)UUFF(+DJRFS'K>,01,22B<*4Y5*V>?Q2P-1V7QQ]-UG4I#;$C3M]?B3>L
M-#[E:^K:#@)LY==`7OL(/ZYLSY2UM>QE8V`#M%AJ)\O39,XB)S6[1#6.N,XM
M`,"X`GLW.4UO.&^V3:NL<K?:MY1:?&7UC1'[D#V#JHQK>T4?LMLSK":DW^\`
M`6JV+Y1-957:5<@S]S11Y6FU@IM07<PX*BQKLJKUU=D@V6.;MXH4&9+DA&P[
MG.<.TI6NN5EMUTW*ZXV$+\4VIEMLPM31]16%)&;WXV-X?R#*[4+R-3L*C:=&
M[H@WC"&Q:Y"Z4>K\YT:\E*/9L06CMX0.*PY&93`;%4Y_MV^4Y=2-0GQUJR9U
MK'V=$ZI[,]A2G5/>/;L&TYL'7J'9NN>MVTY>K]NPYW_$9='&(4N)DC48Z(\Y
M=F4ZB',:KS.%$L">SKM5J5CMB4U_9N*X^,+K^F6O:<<AI2\2-::6-])XVQMD
MQ[)7,."*WWM'P9&J+)#ISJ4%2KE=GE($*^AXTS#HV-F5-!S+`XPQ!EB%`W+C
MM2SAM70T95?$NVQ>RVC[/L7S]+U(UXGW8?JK(':REUNZ#;)2]'4W:,-038[U
MXI+!F$!D2Z1.N$^UT24-LSY6*.'01$`9*=2/$[*4Y5_H45?&6&=\S.;/XY6E
MZSJ$GM][3]\DCIO5X#W*UQ7TFPC!N\Z%,]@(/7I^7,RXSD?5=@";`>J=EET^
M3,*#'JU98V8MN>+C3(N`^=1V;G*:WME\'*?3YA.PWJSVO@]ER_8RJO:^/:VN
M/6?>1+1]X!F3`6PQIQ)BI52\"3P8P"=7$?A$@-O')E1'$(>&E8T^'AV=%;C$
M)0X:E*^:FO->Q+C@@<`<`<`<`<`<`^,C"02@31[C\R*W.B2(BY(Z6_`GQT2&
MELJ>A3HJVY,.6UA>5QY4=Q#S#N$.M+2M*<X`AE1/#QZGZWZW@.IM2UZ3B:-I
M]V@[)HU9)7N]6$I1+^*OW]*8BW4^WV"Q$[<#,"MB9=MD)V*:]`DA*G1W6'A9
M"=`D#IQ1-MMUM2=BFI2NX'E2_#7Z?32%",O:X,,G-?GNP-HA'16Q=B@#-F/]
MJ)$>;V!)WTE7[0+E7=S9I"%`F&H]@<F0XB!\(4%C#`,=`G@;46.%R_;9=5(U
M:+\'CHB)J\VFLT#8DFO$J-I#74Z"0WUNZ?E^I]<;B[>]+C$R)%]7(B-4.QYC
M2`K<!R+'8AP(HS#'L>N;&EAMQ8WMV*UU.Z\E=O/J;I;L9:-,7+:@BRE;'U]N
MJ=C:D(A+Y=:C[5;RB(L>W9/5:J=$0S,YN"Z]$;0>CDX:8\B0WB+YK[OGB$VI
MRO4GD:IN7AS=7;^1#'K8%V47M8*Z[-O<*ZO;RW)B[9+[CUB&TWL@<[:TW?!O
MVK6/6M<KM2S4V9C-?$B@0V.#'C$,N8=$J)JS@K%<YJ[&LR;3O0[K'H2[TC8.
MJZ2=KUBUUUZ$=5*AF;L?8]I&#-"`;"_:P]`<$6ZU'1Y**/L$ETC&+E&)E@:Q
ME$!);`QEF$@0VW;>V[K7\R(==K?"+T[L3JANO1O6RO5C65^V+IP9H&AVJYG+
M>8K>J-1M;HA[L)T*HCDY.2`U3D6_V0*I##([#K[J*X%=)L5FH502#'4,;42;
M;<G-\7*1(5_PT^JIZ+[-6*CVB+M$AN0#V+)[7#[FVP[ML=N0'3XU"@$PVY,V
M$5?7``:C,^T(=7W'X-<EU=.?7:V@E*D2,B-J+&Z4I*4LK`2\,3J`4VK_`$T2
M:CL#V_XVSJ/>>"*-W[ES`5MC2-#E:RH-XDA7;RZ*('XM(F/@C!$E$F2K`P[(
M?,/2Y4\B_,#:<I75JQ6-S=T[3)-+>';U2Z^6G5%RU72+&!.Z2KFVJGK9V=LW
M9-CB`0&]+K*V+M."Z.L=J*03'MJNTM=A>DFF"$L=,;CMB'X$2.U&2#BB::;M
ME.I7*2\C\[(\.?J/N"\;YV%LW6Y&Z6'LQJ\;IK<[9J^WY\#:M=@WFIE<"QJR
MBR-@*S+JY-ADU6;#5AP:R`3C2#(PO')8]9R"BB4I.QS5EI_.!X<G4B!-`3?Z
M/"I+(1G1*)T>PWV]65BZR>L#Y21U[*['58+"2E7\UJAPO*37R]HDDIY!B.%B
M6A^P1*U6V!(;46..'[K>LC%Q/A8])!+53B9U67+C*5#[*#@86R;+V98PGL;V
M_:RSV-'%1)BVS()V#L[&<N$HQEF<V*>\CU=P'<2E6`VXL;97+]MEUQ[T3PX.
MKL2L:6K.!6TI*^N\PBYI>UD-\;G([`UZ%,4B7K0M2JY?)MX?M`ZA$=>37JC+
MIT<FV#<@)9(>J8L##1E`;3KXVU*3KG9*5IFD;HSUJ@]1<]%H%,.0^LBJ;+UZ
MY06=B[%7/=II"8_.(U]=XD6E^^8'SGY4EMYINR-X1">6,C>@&X1$0&T]K:G7
M;.K_`(>K?NFF@]G=?*9U>NM>L9?3-`=UL[6`"=@7H>7AYU`3%&=<)E7`;88E
MN)IK!,$$F1L$C<O,QX3"R3S.PVK"Q$VG.^O"^VJR\^3;?2/K7O*VD+KLW7R+
M$9L5=U[4;TC)HY`%;+JVIM@1]J:VK^QA`^?&'VX;4-@1DV$>T286N4A\A7R[
MA*JE28*8";5CQ\U)]4:[$^&AT[";("[1'ZZL#)ZL;`W3M"IAD;3VFU0ZK=>Q
M(-ZO;M)`=?1[BS3HD+8PV:40?`N!GZ_EPN17"%Q,/-I9$[3E*=R5BG)65VU2
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M%0*CKD9;@>K@9HI8*OI9S8%R):?J90R2EFIR`%")&)0J,!09G2S`:E2<3*-5
MBKC1&IUH',AP7HHEMNVW&_YQMQ-,EO"HZ.G:%8M9%=2SY-*L.MZKIA(EK8&P
M(#U;TW2MG2-RUG55.+C;+#-56D#MF2,6=8P.1C/D<P000I,FUNLUH,($[44Y
MSKG/G9,R8IX;W5,SC=[9"JW*1"[)%KR8WF)?VIL>2#V1)V4)I0"[)-@Y=ED"
M(Z2X/7E1%Q'0\,9,K+0K$NHR@!.3+GOAM.JO=LJ54OEY_-'AJ]0F=J?TQ1*'
M:1MO9W>GLD-BA=L[7!5`+O+-#BZSE[&%48)<Q]28-$Z7"B!2K#P>0)(1V<8D
M#EX=?2Z&U%*4ZI2L5ELK#"A_A)]%Q5/&4*!K*UL5,/HW;/6T>)_IBV^ZAG2^
M\KE,O^U*8N4]=W)K[=MM<Y\E),/R7+!`3AB")*P!\9B*V&W%C>G8K85)77(U
M%1_"FI#7:7L%LW:;`^WZ(O7N*IFI-6QMB[-\H8KTNI4JL4ES;(%S,"O;-B^R
MZQ%K$-60B?0.)5V.@FR<06(*0E^?*1.TY)*U;4WXI6$DQ7AL=10UC#6>!1;2
MB;7.R-N[9U\<]M;:,JM!MY7M!Q%MLX^J2;<[7&!QQ-HL^)]5]C%5A]-@(-+$
MJ93";AB-J+&[9L5BNLX&-E_"GZ-G:%9=8E=1S)%(LNLP^E,!F+]?QRJWID#L
M]_<XS55+*"[)",5.DM;,?39GQH8A&?G)@`0$Z7)J]7K`0.&W%.<ZYSNME*?'
MGQQ9)_3W6_4^B;)N6W:X$&!U@W]?F]G[5GEK79[+FQWAL&/K6#C4>PEB44(I
M0(0)&K@@61HY3`V(K,3TR%.*$-MRG<I+(WKP0.`.`.`.`.`.`.`.`.`.`.`.
M`.`.`.`.`0(\4:\[UUIX>O;>]]:DF,;KK.G+"2ILRNQG)=B#(2N(U9K)7F&6
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M6OKY2[I@?,L1\[5`]BEPP"K.\FU35UQDN7*PR\6-$85%$-*&-*4TMER=]2;^
M:E:EU[+]M=-5;;=!N6K==]-^V%1[*^&%JK<VPM"D5V/K7N'2FU-Q;`&!+AKH
M`J97Y^K#9MA%D%;*%D9L6SEJ5%#P%2@693,H,.I0N3FXELQM)U--+GFI$M;G
MXP&\:.>O5D9TQ7MBTFK]JNZG6<5K2GC#[6R[`&ZH=67-^5S;HNP)/FQLL;M(
MH(ERF!;565`AZYNU))#2Y`D-DS+8^?//$C86/[87.Z;<I='U3Y:![6]O=]V7
M5OAA]K2#NM]T-6CLUH+;^N]>]5,FH6RK$,MO3;<UUV'J&S@++<9P^;Z7:M=E
MAZ<.18U2#$8!%'V`8NY`<MR!*2G&JU*%IN*[]2D^%5OD6>;9[?VPYX3=C[=:
M<V'5KY;+7I@0;!;)US52-6"5Z9<3XFHV*R#JC8K)=B=>+ZB07-3BP>R&R<@3
M8*?.C'XK.8TP:T\SB7ZI.K/\U6W-8U$!;WV:5U!\7#>E+'R54?6&Q*!X>NJB
M.S;2")WC3^F';-*WI$A%MA#8M_J!H86VG-`UW5P+8DR:^$#6<P%.[!(RH0^$
M%L(ZE."'%;;E>]VS*W*9D,'M5V"3J#Q6]JE]FP[GLCJSXEJ:GH.H0QN19<)2
MJ>1ZRU5C7L&`R>FI>HVRP-G)4<@+;"L/S[#9;;9GC<^R'XKH()+]'&";_P#5
M9T9\%8X`X`X`X`X`X`X`X`X`X`X`X`X`X!7I[I7O9^C4._M:]?OYG@ZE#WO)
MCW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:
MUZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)
MCW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:
MUZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)
MCW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>O\`1J'?
MVM>OW\SP)0][R9JH0?W[7V;9&`^#A1PD>_1)P^]1Q&\NJ`UFZ0"BGUDH5L:A
MP646.(17)DJG1C"9C,M4A]4A#F77,J"KOV65.H^>*4WE!6R["\&?7\-R/,KQ
M!AR+NSJ9'6Q/J(U(>J3F5LCD*;F5@0E(JO2492\%&I3!&KC1<8:X)J[[Z.^T
MR&%L+L\.JLVB#_".`0*02DKF$:;"[#=7HM5GRW)#$MR5-KS$=`B5)7*BQ9*W
MWX;CJI$9AY2LN,MJ2(JMVZ\9,^'VW=BO:J3HOO/M2]I!J;$)F*=_3UU6]JI8
MC`5!7!($Z]ZG[$3YL)8L8J)+E0W7XZAT%3+B,Q(^6Q-5NVYY,]]C;7;2+:)%
MWC>%%!CW27!]C)=O8[)]9V;1)&X:AL8'R#[:$EGH/H!P]GU1R6J/Z*##;]'Y
MD9C"!$H>]Y,Q(<<WR'C088GP;:(+AB['*N(V(.WAU/A1AUNFY8S,M4%B-`::
MB6.7F-&S*.1TMDY&8[&792_1-^:)J[[PL9[;.PNS\6D&]9P_"2#P-=V0<;$G
MZ*.[&]9!]2,C+)%>A6&"2KT)M@5+C&XDF1&*M/15IGLO.(DX<2M6,B)*W;KR
M9X#AOL1.8DMV#PB0EQF$1@@.9-W7L5U?MEBL8ROXB(!1K38#D::6LZA#8\>B
M)+/RR,[+D&-+D27YR%2EA)=_R9_<E9^RQ,@X1=\)F+%?FVZJWP^D7V:ZU"D6
M^WT-V/*H9ZZ*'HCOVN;2",(<8JOLX]-9"F108M$:1/"B7X05=_R9M7W2O>S]
M&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`
ME#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]
M&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`
ME#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]
M&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`
ME#WO)CW2O>S]&H=_:UZ_?S/`E#WO)CW2O>S]&H=_:UZ_?S/`E#WO)EA?!R.`
M.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`
M.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`
M.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`
M.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`
M.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`.`:[V_8;M4M3
M;1M>M*FB^['K.N[M8=?T9Q]49NZ78+6B9*JU-R2E;2HZ+&=C0`ZGTN-J:3,R
MYA:,I\[`+C4B"UW[,[JH&H-;;)JHLUNV=-):>LVWJW%U:7`V.HZS<(4T)OY-
M="L>I%2]]K3]V:-US7C8@E;(:ZQ8Z:4:G'H,F5''22FU.5LLU9PKZ<346Q.W
M/:H/JW;18;1+X.W8)C]H"%:H`?3GMHH]<#:J[/TG6>DW9MJ];=-3;!MS3)V!
ML0#`P).C=FQ+':K-2I-7$:N,BN`DIVU57XJ>%SJ;N)Y]1-D;+VMHL#;]P@)5
M4V.Y:=G!;#5B%9)50M78U<V;;@56$'($[*X1.P1:;`KN+!;*D])UW=C*IUOU
MM)?H9NNN*$-).IS55?+Y5:K'627X('`'`'`'`'`'`'`'`'`'`'`'`'`'`'`'
M`'`'`'`'`'`'`'`'`'`'`'`'`'`'`'`'`'`*L>WO9;LOK';A.J:&&OW83`H%
M1G6>OJT-LHPNH3[%MK6P1%O`;'&QI%)N"A]&)[`<NM0?F0RM>Q/US8A@LF,#
M[#>:'22:K<N:\U==)YXJ6(+[@]SXP`XY,Z\GI]HC=ONG^M9,"IT&;/@U#3&S
M:?TI,[U=F^RENC2S\ZNVW;_8.DP-BB,3*E6I^M"^+6R']JA:2@3*'']L3YK:
MEHJG;/B?!V4[?]NZG;;A'T?K6T3,#=8`S976-QT/:2]FUM:9+<Z="]6V+KX[
M;]4;-D%Y/M?`V>M5>XD)PENZUYRO9>F5C8,L4(25^.*][+VL>ADONC.^!?8>
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M;V&PD;8IESKNP*V/ME5F2)H0DN>RPY-%%P)&/+$DI@8N-*`K!`%G0A<08'SQ
M18.9&P"@PE"E09\2/)8=:2!B.Y]G.:BHLR[)K4^S,P9L&/.:B*FM0@\"2XK$
MNPV":-$GYXRNBF4*<)E6`A%D<E;<HEB"(;(%8`$?]?\`<AN]F8(9W4=WIDN;
M9->B%0KNW-KIB$-V18]T@`1&8,G`VTYG*C:=Q:$C84R9!DU:\58E'.J>>>AX
M$M2O3R)K<$$/[-ONWB7[J#:36HA<=O"-2@9!\.5E,C=61`>KIUIOI(,V91*/
M^UX]L!BJD"(V:,%CYQ45-GQ&XXXE'?$RJ^6S=72LU)J+L'VFVA'K+YZ@UW59
MF<6UWBP4RP4*UF2$'!K<.WZ[>*G[,JN=<C@B]>TKK$5LZ*5)CB27I5O%_P#A
M;@\W68$X3)8SMT4JLW+_`(R55BV(=!;KJ-3]9#2*$6J)IRS>A@-.GJM;I)RM
MP-?R"L_%H0_!KMN2_:`\1:Z@^P_8(0V(@RTN0XS@1=QG\]NIH6;V"W:-@B+$
M_30Q2LO;/ME+F^UJKF"9^8%KO8J[ZN]F&8$RY#F`41=+@ZX)1#;[IX>4(7`P
M<1#A"0<$49"2QN]IVYSTRG2A65H0O*%-Y4E*LMK\WST95C&<H7YBEH\Y/E\B
MO-4I/EQGS5*QY,Y$'ZX`X`X`X`X`X`X`X`X`X`X`X`X`X`X`X`X`X`X`X`X`
MX!IK>VW,Z2H,R^+JA6U0ARYJRF!_KC<($.@5\V>D&[#-'BCDP8%\X,V%]DD"
M)D:*7,B5%7!H=1`N/$I3^:$?JQW1<MY2J1A6H+-$#6`[KULQ8#91<-NE5;:&
MR=FZEIDNS!(``M8HUU)WK6<H1*J+0IVOUS)L8_;]@5UEN6MD3L\<;+Y)/1DY
MN#DB1MC3%[M^W@E^I>W(M!C#@<&"7C$6IIU$IP6-V."Q7X@048I\R&$L</9\
MH_9IV+@W+;MFN]6%!(YF2#DS%B9U6?*OQ5FS%NK6C=JZCLA$CL/8U7N<<KK+
M5=15##$C<G$:RT'7M(JI<L*8+,-S$#3Y((>GR8QPK9'F%8'$Z^FJO'[F,)`V
MG8L=7_7R1*':>S*KIO7MKV?=WYT:J4P4LP;>&CI18@F*AUIC"88V$AR5-D.O
MOM--,,HRM:UX_LQC.<""J0%W$Z*U*'.CTR!NZER)ECL-S1/JNG)`90ZXG*$S
MJ^%9A8B/6_:S"G56@QX];K<)L%D$AAKU\T(-F'I)%[OLX^ZQM+%=5C/4G/U(
MWYJ;<M-)5_5IN]'&]8*%AS4O8-.C4T\Y@VB?/$OJ@BZ_603[*V(TJ,AT.'AM
M)Q#QB2VJ2I;[_+3A<FI,6UJSA\XFG^^';*Q=="6IJ<"U72-G,;1$[)-%&;T?
MG"!HQK6Y'6+$1IF'#K%D02>GRKZF3A<A,5,!0AM;7IW)&%1^H(-MR3E5/3\D
M-I*;(+N>)ALYYW#SO6#0CKV#[5JPZY>+`MW%HCQDPF+)AQ6LLJP?9AH3$:,>
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M<?M-DR<<CR1486Z3E."F*O9RSBX6,)5$0342%C(X<61]49NQB1`UO".U$U<Q
M5RKPE<?E?S*VZ1J*9L_LJQLA(JO5Z+;Z+.W-"KXPLV&3$>329A#1?MDDDD2$
M!Y$,-0Z]+[(/2R^6\OL7$+J6K+*6B86*P"(5>7Y_KJ^4Z>""%&[M+;>O>UR1
MT#;[0*UL;U6*H1$13[,(!68<6=L9^83M]8E6$:4!M%HL(@*BD:W9`Y^I7`(R
M\_*P*L-9!,'1-4N,_P`58_.-61]<]6[IU[;=C$]HVH78A5D`ZYB!(8N40?'A
MC=;AGHME6`3.6F6FNFLSQLZ+$-Q<&J_*;DUN(6,5`75VQ(?W\^5>9*<D2'!X
M,HH7(0A0R"TI^:1)2F(,&(PGR><]*ER7&H\=I/EQYSCKB$8\N/+G@@J&K.CV
MZTI*I':#4=F'8CG8>:O)W`FOC_8FR56I5ZV`VCXV#-.QG+5`!2:F"O$;#>R-
M75B!6R[=KV/=G;N=N(ZD\&N4_F5C?"4K'>OPRL5K5M:I-5M]9N(ZEQW@;$NK
MSP9"&-'IF2I00))D`6HL69.#A'X`R49>'C9UD>AN6*=`BS"DAE`A\5+/7F1&
M[U]O[+UVM6K*&"U+1MG1MA5Z[VP@N\V2>&AB7:";H40:W$@PZG9FYTB1*MGK
MJ93^8:A[HQA3&'G'O/8[@@VYI.4CEM)39!MOQ'[TR5;.M=3NO+1QJ80(M&6[
MD805;(%I$:65GMD4ZIQ+1,)2H<220E)>P_,D18STE;CC#2DV=@^\NC.>T7'Y
MS+P-/7MW:6I-6[-?&-A7]BZYI%[>#LRU3VA+MNK(RP.#&IRX\1<QN`LAF*B6
MN+&5(2UAY4=G*\MIH.W4VL#E3W?KZ@F]\=@B9FD5`L2E=A-\9DD"=:"SYTC+
M6W;FPUE^7*A.R'LML--,M^D<5YC3:&T^1"$XQKHDMB&I7W<65QM[3K=D-_\`
MBC-.G]#HX#N7U3(@J95`I!&T+(TB>(KH@;,0V[I/;276TRH<-E]*'$_U7$87
MA*T_D5C..13);%BM5P@;FZW9CQ1?OX@GQ--^_J<Q_OX;F96K-:EJMY/1G/?F
MDV[RI3[72N5+C0)C:$Q'%+=BDR6`T)]E"<96ZAXPK`G.6\*RR3\L!_#<M*F<
M;IK$S%J/A1PY4`AV1BS&'([Z9FHW,MN)\F5-2`MPDQGV\_E2['DQG6I,9]O*
MF9$=UI]E:VG$+5EIM_DBZ#<^Z+2$\3Q31&3VX.I0=,^",60J'8Z(U,)>O9B-
MOR+'UJ982ZD;"(S<^E><0WCT$)_*<J\]S"&DN.(4+E$W*?Z79+%8M$1V+/\`
M)6_$UP;EPW9OK@5A+80\=;C.SEN39<2O^@7+:@Q(<:4]-D/1'\$X^(Z7(Z`[
M4@O.D0AK2I/-6U7*OVZ^6=14=$G27XF74;Z,6A/NJJG,!H*']L@`1?L%V4>,
M65RN>K;XM;?IW@KY(?F)+LL&)-=4]"F9(9F08,B:61!C"I*9,87(:5*C//1\
M+U4;:@AJGO9SF^7"MVLJI-_E#Z4?3J6H8K78SKF_@AF;YO9?%5RG,=AK&?:J
MV,>Q/2[&(3V'$D6SZ,X8:=<1&S&SYLJ6EW"T*5S@_P!7UG^!1[RRB]+.BDA<
MK+"VD`I;=5%RJD7K1DM.M[=I=;,@B\"4.9%CYU4<KN!ZA5A3*G,BR2+A@W)(
M""+<6J2A4`H9'92TC].[;N"&Q1`UKMT379FQ[#KB78WCQ6</21KN\[]IB8L*
MT&I).66FL)H\:R3!4UD&[AVYU0"*D&5N&"@@3+2?E,F4A:7$)6GR^:M*5I\J
M5)SYJL8SCRI5C"DY\F?RI5C"L?V9QC/Y."#]<`<`<`<`<`<`<`<`<`B9OO56
MT+;8H-@UA;[S57FQ=>%6'V$V,?'12@B5M36\JTL5RH3COM%&V=C5`C9HN'9I
M04>525MH5X:=B$1[)0*)4I5_*G[R/Y=9ZCV,KQR_E]]FHI#%D!Z]=$AQ1V:7
MK=9LT'-O5>(523.)S)7M<GO$`DT>\3'!C`UC+%/EOW"-5(5U-@Y7&VM\;FKO
M7W55FVW:P]DL`.LOUN)("U!@-)L9&7:K4#IPF,,:L)RMA?/47L$'+[A$X.CL
M1,2'LO*4VEIR4IM)6MRZD?V^BF4N1NT71&+$>A,]-NRZ8\IH&W+Q[(:APY+<
MJM<.52HSI+Z>T"7WBU2"60ZBNF%.>R@XL3DVA$M=JR@VBSL8^'4;:[ZZ17N;
M_;\LL+0^F>_=8;XH%N=U70M@:[$4'81FMFPNQ6ZK@S-M%E@B]HFS[,FHWB^P
M)S)V7?EDILN47CSG#+Y3#@]EA,=U_B*%PN3M$TZTY\:\KTB'?B(=C=^:FW!K
MRGZFVF4UV#*:U)V4NP)JNMC[Q0LFT>Q;#LB3?:1;W8[<:&UE#3`U4%M:G7')
M&'U8:RWU1P*-M.=2N_XR(HME)R3FW;.Z6#6)`0AW7[GQ8$Z2WV:M^7(\.2^W
MA6M^NV4^>RRMQ'G8QI7&<I\Y./+C&<9SC_GCEW808Q=5^#CM'W8?_7_T='6H
MSY2UZHUC:3CZ91JRZ\I9\O)0RS&1(*&:V-(D'T1XZ&V&$O2Y+SB66&VV6L*P
MAM"4)2G&4M=3:XG*3L^KUDONCL+/+5T$3GO=F>S#;LTB('S9;J(V^]BQ8R')
M,F.Z\M$>*PS&82I><-,,M,MX2VVA.-5'#"X(6X86ZZVD[V5111)M**)*J]X&
MZ>D->`!.ZO6&0%!AQ#\FX;*B2'A8R%`=?BYZY[LDYC/.1&&ENQ\R(T9_+*U*
M;R]'8=RGSVFU)BFAA4*DDOU*Q)7,F"*)[4VW^F]M_NA+OO$/;;>Z:[N:=0AU
MIT36&W&W$I6VXVN^55*T+0K&4K0M.<I4E6,I4G.<9QG&>40;T/B6J.[GX8O2
MSFV]K-<_]/A/JJ#_`"_-LE@NB,Y<5X1,*'`@=D6(,2-"9S<->N99BQVHS65J
MJ$K&5Y;90A&5*2E.,J\GESC"?+GR8QS+3;_)%\.Y#G%[&-^)^+@&NPW5\82)
MN!X<S6N[V'B3<))#$)#EOTBE4M^.N9`1B'$1E4J>^N4WB-"9D/X2ZMM++DT-
ML5]7N<QV<_9E>K=2`.#_`%O-FG8D>ULB:7&Q7FO0QI4!4EEJ-,DN'FEQQI:8
MF!!$$<Q5SY$@@WZP"B,^K/3-$W.R]*W&O"Y6ZE1T=]2/BI]9/H]Z7^[BM\PF
MEVO-ZE`-X/P1>R^P\-PEZ&=([-;OF1HSP-,J/%]1W'<7D3VBT>7')PYSZTJA
M^FAI]/!A>M>JY4^0R[#U4:G!#5BG7)[S\N%[*:3>>4/I1G&B[,&.]LNJK8K*
MFD.[\V*<8&NA!\)06`7U#MQ4,9'(P74ID,M1FH[S[3<..QF8^[AM"416W),4
MBE`_M5KM7SY,06\O=%P?B"?$TW[^IS'^_AN9U:LUJ7*WD]&4'1=B2!3S,@"/
M6'=CC1HJ/EHB[,;CQ1YE%@](PS/8D,M2U&6&";#R4>C8G^LRUL279*LHVRQ<
MUE*Z5L_GF9BT/PN#LNR'>RI::W&8=<D:9ALQH3.(\2'`$UNTB!<*,UC*LI8A
M#8,2(UE:W'5H9PMYQQU2UJRTJE'+@BZ#<^Z+2$PWQ5RLP-M;JJ0@^J>LMT3L
MTVGUT</*1\HD&.N$=["X12+,A.^<TZM.,N1UY1G/GMY2O"58ZH:XGX?=$1V<
M_9E:$B[VJ7#9@2S4F7$B,S8T%J4B/(]C(Q%I,>=&$N/,K=$QY49"(SS`U<5I
M45MN-YGH&T-ITR7SWQYE1T<])?B9=1OHQ:$^ZJJ<P&@H&W?8#PSL%V/A#39<
M?#?WG>Y#\2"2F1(SSZ":/,?=8CO-M./(]&WYKBT96GS$>16/-QY-=$DZ.&:5
M_J952;SRA]*/DT!+EO\`8[K>P]*D/,HW?5I*&77G'&D2)7K.)+Z6UJRA+TC#
M+.'W<8PM[#37I%*]&CR*;<YH4>\LHO2SIR(:]H):QL7`K1Z@2ML:)#@1K20K
M0698X\$<007'PF#<F$X3:B02K:"<..W*2S&((1-90B2G#F,A:??BIU5,1,!-
M:KZ8*)$J6B%@,.Q$1+GF&;#.E)CXC>A3(F'XT<Y*>PC#D@PPR2>4N:TAY(&0
M<`<`<`\\D7%!F$22Y,>*C..X81()38T%A;RDK6EE#LIQIM3JD-N+PWA65Y2A
M:L8\B<YP!]K;B'4(=:6AQMQ"7&W&U86AQ"\84A:%ISE*D*3G"DJ3G.%8SC.,
MYQG@'[X!YCQH-&(,"9!88P5E)2N,,>GQ6B$E"LKPE3$-;J9+R59:<PE3;:L9
MRVOR9_J*\@'I\`<`<`Y(+]@J8W#OYZ06M4V3GLUV7'L^;9;*KS(P_?FQQXR!
M&99)X0S'A#X<>%`AL(0S&AQ6H\=M#+*$)UP0P[$+<,-E;:17&VHG)M50^E&]
M>DJB8WN-UP2T4LB(IBR;'A3&)-@/R8)2"SH;;\[$>3%F$'HDQADF-A2T)<:<
M2U.@QWT^:_';4GFFAA4*DDOU*Q)7,4;;<4W/]-_BA+@_$D_+TYV7CRXQY;3H
MW\N?+Y,?_7[5WY<^3&<^3'_\8SG_`,L9Y1!OP^*'5%ES\,7I926.TW/.('N@
MK`*EM%&GGHJYJ'AOJR!WM56;48])Z;`Y`^+;AI1G*52U313;[R4L3?0#WMCB
ME:N:<\?=-<#.6?\`A2"I(2H]F!LI"DNL=@!JT*5EC.'HTK0^F9<*6TN+(EQ7
M8\R&^Q+C/1I4B._'>:>9><;6E><U+O\`)%T&ZN>K-1>(K%'2^U&IT%X0H@,1
MI,J].BESS5<:=C-WM7IDPR3Y4.TDHMO*FAR'92V$R7$2)463$8?:S-#^Z5LE
MKDR*2R'.+2$@-/$Z]51[&]+E0VS2=>IEP,(*NK0NPY'W)4QB0QB7Y[3CN(8-
M2$MHEY9(N#A[HF./,SC0/1^J=\IX+A5K7YE1TK=?_@'TG\T>M_L:&YA-+M>;
MU.<PC810O8N_X<TS(@/+[=]E2/DCUJ`2>@,0=\;23B5`(27T+:(3UREQ5KRR
MYZDRQ'>;].I7F1M5&FX(7*YJV7[G;79YE$>\^6B-G]8K0@[W'ZGPVL,^CB[.
MW633ZL*B!XD9HMUWW6B(-@P8RWO0P(D6`W+8:<D.YCODY4;&7/09E28IE*'.
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MFXIX(YCLY^S*V9U@/$T-M$C9<@VS$3`:;G$IDM#4%#C#R(3:'WG$HB(=BQ74
MQTXPRER,PO",*9;RG1)8(J.F7J1\5/K)]'O2_P!W%;Y@-+M>;U.:'=!@I%WI
MO]B/1K\79;[";ZP@B&K3\\;)\[;]T4K,:6AY*7L-*4IEW.$X\Q]MQO/Y49SS
M51N4$-43ML7%E4:G%;"JH;7_`(HS+J.7)R^X_51F52[R$:SM&Q9S/.UU\</1
MG&E=L^:VN4MU:4N.9SY&TYQ_7S^3'%*YP6-5JU"!2=J=5S+Z/$%:F/\`3/?S
M(]J,]/>IS#4)F9)=AQ'9;A\,B.W*EL1)[T6.MW*$O2&H,QQEO*G$19"DX:5F
MAKBA7%:EJJF^#T9S?^T_>?\`Z3U/_P"ZUP__`,3YNKP75_@HE!WHO]5_]ENW
MA*#K4,?[(1K>/KXTGDAJEUIBMV`C8X"H:A=S2TZY.)UBIR&Y*G4/I<C)&NM(
M;0TXF6XIU;3.6FWZ[TO=<,"V&6S5-K:=JE=#=-Z\CP?%CJQRU;+ZMQ05BA5Q
M^-1NR<AZ3-`*L")#.3_6QO#"(Z3(7+"\+4ESTWIWO+A.4>B_K>>F:'><NZ]5
MQ1$<MF;[RX6I\'@5A?T/;$_Q2`?^VCO_`.^\TUXKH_R558/JOP=*/2=I;'3/
MJ0RZXEUQGK'H5IQU+?HDNK;U75$+<2UE;F6TK5C*L-^D<\S&?-\]7D\[.!U-
MK`O*"]WZH9L_8+L,:7>;T&5*W=L%.1P635VQS'JY=4?&6$$JJ3F8R[AKTKOI
M9CN,NK7E&&T>:VG71+]$-;OPQ>**Z1_JL5D./=6#/Z:)U2S5^Q770TB\7HTJ
M-NJF(P.-R:PX.>]87,CY4\@;51DS*FO2>E:]'-:QAU",N8<;\YM2E7Z'6W*6
M&*X"C?ZK%9%CW7Q.HSF0L'`'`'`'`-";\U(4VU!UPR*(1X#M$V7#OCZ'29,&
M^0CQZ9=JJJ"/."(DZ:'G8=MK4UN<B'*1Z.$[%6SE,GST!CQ_*?L1S-=8>QYT
M5;0RNQ&:\./5+8%;%B:P[=8->!KMU>N8$.]!'N6!PY`]JS96HRPBA-J@1!!.
MOSIPT6S"G1`L`3-88>7*_P"7SR%KK;O&5('R#V_K5/7$L;I>>D5>-F5I@U"5
ML?4IC,%<0+8HT<2S*UG1[K371\-+PJ`9V$3L(J+%=QE'`GP^5^[\DCS[%U9V
MN:?:,M[5CHODGK5K72LW8BY5DC%8MZI+.S%$MI^Q`YZ,D^0E%MB8LE:C3#8B
M56+2$@GVY\QY&(O`GPO;ETJ\CT$=<M_29IXI-[%V.%-,&;C+@,"SUW=&5B!:
M"^P3%?2*%S#[8R=*UJY8Z=##1"L)T';!=.6)L`^&/(L,C0GP^5:R_L_'7;1O
M86J2M>6O:6X;65:15ZS-MNM#EM/V=82\P]5AZ394^V11PC$M@VSV=!B\SADY
M3H.L6+U-VIMO>DE3W!+:N7/A.JHG3P<G*Y+NC->V'V$&NQ'9;<CMOVLERF_.
M2EMT;-W)NFMDHC"_/2Y$FS(IE:62+6%*@J:;DX9E9;Q&7K@3<,+_`,4N<YE5
M)O/*'THW_P!;MDR;]W(ZO+F"A\&;G9&W3<Z1!;6PTZ\1ZU[1&Q84>(IUYJ+&
M&C0<./Z5CT3A%?\`Q,YM<IO,A[BEAV8?N6D77VL)H[8O#_*$L\\27\G3C9><
M?VXM&C?O^U?RF#?A\4.J++GX8O2R@U^Z6^2]F3(LY]Z1EQIW+[I:<M[TC$AB
M6TO#JGLKQE$N+%E8\BL>61%BOY\KL=E2-LE@NAG+<?"4E29E&[)29;[LA]SL
M!`PMUY:G%YPWHS3K;:?.5G.<(;;0AIM&/(EMM"&T82A*4XRTV_R1=!NKGJR-
M'BR&V0W8;5"G1=K)^L:8+83BK4FXW-;/H[PO.<S6ZB"-K'I7Y^,,+G)C(DY2
MZF.IW++V$=4%L62NGH(TVH;+8K6E=#BT5=F+O#R)*8]JNV<>4=-QY5:/W,A.
M/+&=QY5+70TI2G'_`#4K.$IQ^7.<8QG/-$UQZ/\`!7LO&'_>#_Z.NCK_`/ET
M-I+/_GJ/6W]N/)_]FAO^6?RX_P`L\P%[M>;U.678[]Y3N3L,D9J2]'H&.SW9
M_$8N,)ZQ9@3D>Z!V3Y78S1K8H@HAO"_.;SB8-B.^<A6<-Y1E"U:Z)_HAJ=^&
M+XE,2_4ZU=C@N!NCI2];U]UNK:3>L[C4X6;MLO\`\5.$-?28/IL=;-Y>CC>C
MK-ZL)+TSV//RVKV/]7QAM7I7VLY1A<4T]A5/>6&#P;)H[8JY_INGWH>!=[XA
MR92^FV[408N9LU8NK)B0\/-1\RY2K[54L1L2'\I98].[E+?I7E8;;\[SUYPG
M&<\SPU10O"):EES\,7I9S>^QNV?\*W__`.Z5/^=YLG%W?-%$EBO/\%PGA&,G
MV(79%%C`JKT_-OUZI,%9(>5RJ/FHR\-R/61KKL?'I%X<3Z+*O2)]'Y58\BD\
MRTN_6I5*HNAW%G%7TYF*^*71J[>-W]=H]A096U`U5N]Z-@/:;36%X<=MVE4+
MR\[6#(=V4GS4X\UN4MYM&?*I"$JSG.>J!3<66+5_`B-R7/!.YXE>'N?]:?\`
MX]V_]VMM?_N_-,EQZO\`)5-\.B_!TB]24X3U3ZRIQY?(GKYIA./+G*L^3&N*
MWC'ERK.<YSY/^><YSG^W.<YY@-#M>;U*.+5\(VZ/I!=A_OPO_-E%].'GZF4T
MF\\H?2C)]'_&>ZN_.V7^YK;/(IMSFA!;R]T6V=[OBD[J_5X9]J`7,T&_#XH=
M46W/PQ>EE*W-QG+"O#8_.3L3_P!.HOW*^\RT^^O"M670;GW1:0G@>)-\+76C
MYNNR7VEZT\4&^_"]4(]S[H=(B"G-127E],/B>=4/HU:*^ZZK<P.UYO4T%+FR
M/AHWY\^&R?\`?WN:Z+Z<//U,JI-YY0^E'[UC\.'7WY[:)^]R.*7Z<7+U(4>\
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M4I#B%)5G&:(-Z'Q+5'=S\,7I91+_`$#:-_P9U1_[=U#\'YMDL%T11-XOJRU[
MPIJQ6JE3NR(BJ5X'6!2=]CI&!E>$P`H_$A[1VH,O/XA#8\:-AYW*4Y==PUY[
MGFX\Y6?)CF6E4HZL$6PN<*GQU9KSQ!OC&T;YDWOMU/YU06Q9+4BDLASBTA(3
M'?[D,_Z40_='N:2HZ&>O_P``^D_FCUO]C0W//-+M>;U.?XI^?F[OI*]H?XB=
MG<V47TX>?J91'O/EHC9_7/XV75KYQM@_PT[YY%-N<T=4=L7A_E"6H]\OBH;6
M_P`J/]X]/YE5JS6I9<_#%Z64N<WF<L0\-/\`O+L;_KVM?LN4YDIM_DB^'<AS
MB]C!?$=^';07S2[K^V.EN=4%L62U.8[.?LR%/-)47O=2_BJ]9OH^Z9^[FM\\
M\TNUYO4HWM7PC;H^D%V'^_"_\V47TX>?J932;SRA]*,GT?\`&>ZN_.V7^YK;
M/(IMSFA!;R]T6V=[OBD[J_5X9]J`7,T&_#XH=46W/PQ>EE*W-QG+"O#8_.3L
M3_TZB_<K[S+3[Z\*U9=!N?=%I">!XDWPM=:/FZ[)?:7K3Q0;[\+U0CW/NATB
M(*<U%)>7TP^)YU0^C5HK[KJMS`[7F]304N;(^&C?GSX;)_W][FNB^G#S]3*J
M3>>4/I1^]8_#AU]^>VB?O<CBE^G%R]2%'O+*+TLZ->8RT<`<`<`<`<`<`<`<
M`<`<`<`YG)GY[[L^DOVE_B-VCS;1[D.13'O/EHC;G6[XU_6/]?[_`/PY[QYQ
M3[B\2T9U1VQ>'^4)9MX@WQ5+K^O.@OXA=5\SP;\/BAU19<_#%Z64X<W&<LC\
M,?\`-[LE\^HK[CM0\R4V_P`D70;JYZLU!X@WQC:-\R;WVZG\ZH+8LEJ1260Y
MQ:0D)CO]R&?]*(?NCW-)4=#/7_X!])_-'K?[&AN>>:7:\WJ<_P`4_/S=WTE>
MT/\`$3L[FRB^G#S]3*(]Y\M$;/ZY_&RZM?.-L'^&G?/(IMSFCJCMB\/\H2U'
MOE\5#:W^5'^\>G\RJU9K4LN?AB]+*7.;S.6(>&G_`'EV-_U[6OV7*<R4V_R1
M?#N0YQ>Q@OB._#MH+YI=U_;'2W.J"V+):G,=G/V9"GFDJ+WNI?Q5>LWT?=,_
M=S6^>>:7:\WJ4;VKX1MT?2"[#_?A?^;*+Z<//U,II-YY0^E&3Z/^,]U=^=LO
M]S6V>13;G-""WE[HML[W?%)W5^KPS[4`N9H-^'Q0ZHMN?AB]+*5N;C.6%>&Q
M^<G8G_IU%^Y7WF6GWUX5JRZ#<^Z+2$\#Q)OA:ZT?-UV2^TO6GB@WWX7JA'N?
M=#I$04YJ*2\OIA\3SJA]&K17W75;F!VO-ZF@I<V1\-&_/GPV3_O[W-=%].'G
MZF54F\\H?2C]ZQ^'#K[\]M$_>Y'%+].+EZD*/>647I9T:\QEHX`X`X`X`X`X
M`X`X`X`X`X!S.3/SWW9])?M+_$;M'FVCW(<BF/>?+1&W.MWQK^L?Z_W_`/AS
MWCSBGW%XEHSJCMB\/\H2S;Q!OBJ77]>=!?Q"ZKYG@WX?%#JBRY^&+TLIPYN,
MY9'X8_YO=DOGU%?<=J'F2FW^2+H-U<]6:@\0;XQM&^9-[[=3^=4%L62U(I+(
M<XM(2$QW^Y#/^E$/W1[FDJ.AGK_\`^D_FCUO]C0W//-+M>;U.?XI^?F[OI*]
MH?XB=G<V47TX>?J91'O/EHC9_7/XV75KYQM@_P`-.^>13;G-'5';%X?Y0EJ/
M?+XJ&UO\J/\`>/3^95:LUJ67/PQ>EE+G-YG+$/#3_O+L;_KVM?LN4YDIM_DB
M^'<ASB]C6WB8%!P;=>A)Q2;'@1$ZKW#&P])<PVER5.O6D8,"&SC/]=^;/G2(
M\&!#82Y)FS9#$2*T[(>:;7U06Q9+4YCLY^S*_F-FT&22=#M6H5[*,SFASD%U
MU;$A,I\C$#1\>8^VWY69!@@-#QY:?+$D%B8P8R^N<2A,/Z)K&^7S\V%<GA\M
M.ACJ7\57K-]'W3/W<UOF`T.UYO4Y\-N[)B4C:&[FB5:LTZ`QMKM5:WC(KVMO
M06H56V[LHH6C+B2['!.XD-M,PHK<K`?(7)`V'A.EF7I+V(VNC<H(?NPN;>,R
MJ-3B?VKK##\ZF8];-D5:T]PNOM5$RG%EJUML@F>W(2S'0^XO1NQ9TQ`Q*W_6
M"38=!H3&,S(D=P</(SF1CTSV02]';BE:<+6#7S\B!-.>*]_>3EUL+J>]WQ2=
MU?J\,^U`+F>#?A\4.J++GX8O2SGJ:VC9&IHZ&3I@N.DC?#%$9(#;07+B\3(5
M0D'Q\Q<]-&AL,MR;!#ET<FB8J*T.L+2(HZ4?F.>H(V3>%\E7PGAC-9]"F2QN
M3L4[98\\BTGPGK3[=&=Z63,!8IZ<C5S,P6ZJ6IT:1&+V0*)P'L3QXD@AZ&0@
MR8SK)`4,(,.-J9G#H4M#T9K-3.<2?^/O$60;OW1:0F.>+,:+URU:&/`TC5D!
M&JNS1!MHJW*?8D8B6'K6_F$S&AOQ'Y,\@I"8`]A,J/A4R2RK*G<IQ&>4-43\
M+U6I,6[79M0Z1%3L_L?)&7>53)M+-,X&$Q,,J:6),P8[4-:7XI8@,B'H@/-B
M5(,I9;KP^OS"<TA6,S;7';G.0FZ_,T.*537]Y+2OC<5;-4YK7!W65.N<I.KB
M=.?3#XGG5#Z-6BONNJW,;M>;U+B@#L=8[P!WQNQ%5(4-B/)VEN^=(CWB(7'#
MV)(N;,CC2$VYPC>(HH<JUF:9`DC?:N3(3!\DP["E,NMH5%TT;:@AL_=;F[YX
MM7%<<MISG^RR5\,-U]4[[9&.]6]L6NZ=D-#`;14WP*VME:Q),2$P%Q\.36P5
M#.''";:C)-`9N82V`H36!C#YQ$QNH6>4[877HN83*DBG!%E"_.%O6JVQUDP)
M*)2=T6D:4L;*WQ2SZ/[7M(G5MQUFJ2'P<BC$J4?G6%4:)'D66MV[V9KL*A-$
M9*;FW-BB;WB59`8&-G7\A@I:APP5'M;)0I`!S\IW\_)&^!VKVY)%#;7-UHX,
MK+NS"E,FPG:-<XUL]CX6Y#-'=4H+:R],FB\C*N]K]"[:[`)50Q:K@16M5<A5
MA0PP.FM)VK!>]V&98*A7GH2OS5(\Y*5>8O&,+3YV,9\U6,9SC"D^7R*QC.<8
MSC/DSG^W@Y/UP!P"&W9/M00ZYW2A#2U'>-TBX0E%"%I&^RTV57!5;M=:%;*(
MDQ\(:\PTQ4JA;Q^P(:?7%/F0%8OZ6V&)8(<R9$I3^:?,#S[1W@H-`J=L,W"L
M7!9:@#9S-MC@1XY\`BZ!!UA</5&#8"9B!'B.Q3]<=JHTI9$`AA\X?IL$#))2
M;:$8E!)SECIC_P`G*L]B1W3UN@TZ#'U'9!R3'*6P3(DBX%-0/:DTG9=8TY8U
M(E%KN+Q*9A;-M@RI>="1)<<E-3B.&L`XWLHL)>WG6CXC_;5N,2U02K]3D$*!
MLK1\;>[I><O$8\&K$BPZZ'(@2AK,AP8R1?$;!:EM+66<BI+C/8I3JH\_!.&$
MK>#EK^#XV^^VFWH<DDP#V'(%11!TPLE'$UIYEQ%>8WF0FP8\9NW*)/D'`?7+
M:YZ(RW!4R[!!PH:I#1TT*#RA.R_G+\HR>C=R-8W[80_60H!?X-H)O$W(Z"H8
M(@=@$-D.C,VET@/LA)E(>18&<UM,)/GV<>4D#)!RO"0AL(7(B)53N^/Y<2SX
M(.23:^WSE`V[MX+&HDRPP"W8CL1'#DXA84PF=;[!W%N%-CUZ0T[*]8#1X+=F
M''I9DI'9'287IH(YZ05PS#?UP-J"&J?Z?.<N5I6X4VW-+'+9G/C9*5IN?HON
M!6SNW_7B,W720J#&/'[0-GSHDZ%F<(L^A^S,4`^ZQ,C-M(4<`@!UNB,Q)<UT
M?$L&`9E$,J'>5.XI8IPJJK:372*V?L=0*4ZYU-='!._%M8533:9<_P"(6I:.
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M(MF2VO\`*7_C@[IRJMD5_+&[&;EO2O4KO!"N[%LA$W$L%EKI2(W3LZBMP=+\
M!46SE9;@,I?V0!V*"3%'.AGB#"8=<&0H)!:=%<[Y3Q5DG[W956E57#=76:>"
MKE4[<SJ9Z_\`P#Z3^:/6_P!C0W,)>[7F]3E^V75-E%-X]@IH\F1D4PIO'LA7
MTBAQ)F`X(2[V"WI@D<$M)*@97ML8/2JI,>EOF6Q<^EPC@5##97$9LMJHT]A8
M-->;XJN?E-%434[ISOR7!U6\9UF_>E@*Z!.W77?VX3UD%2+Q*:BO(+$"0]4X
M9TYW*-LCHQDI,ESX,64>C3)7DE93(FK>5/E+D3)$A]<4J:@<\8?)5^9,#5<N
MZ\.]#*PNC[Y?%0VM_E1_O'I_,ZM6:U.[GX8O2SF=AZ9VM,K8<-9;F\Z<$RC,
MIRZ#9T?)J8@YJQRJ65EW&!HI3[I6^DRMK`>=)B,0!,2NP2>4*`BA\/9LN5=;
MKKMNEPK;\E*=2*MI3<E).[**:_\`-5]<\2YKPD0)NM!=^B;&2CE#*;34"$MR
M%ZSD;`P:BV<U&KX?,S.960=7B$&*V"5(2T\H0*A9<8CJSEAO-2U1<E\Y%J<X
M5F_:M\7:^)KSQ8]>!ME;;Z\!#2E(9A:XW.6BY]!&F,>M(L6IAF?68,QMV++1
MB&4F9CX=1YT2=B(2CJ1+A1UIZH5-Q9',3DN9`2=I*JDY@F>2DEITP38@MA;G
MOS7?921FOXHKHX1+((4AV6%D%-<5`\:ARDOY+F1#$MYUM/GM+T;*JMJEY2JR
MJ4RO:?"M-68SLZM'2#U+^*KUF^C[IG[N:WS"7NUYO4H9V)605AV%O)HR/;G(
MF[E[05F3A;LAO*P5BW==$FA^%L.M+:;(8@0O3N-*0_\`\,UEMU&4XYLHE.CA
M^Y=8F4Q[_*'TH][KY3*P'[:]93HT0Q&+R]K'67IWI)#KOHY6E-@,3<-8?>=;
MC*(MUX%DFY'0TX3=$#WR"Y+\5IQ/-,EL/-$P.N7#W+D^]WQ2=U?J\,^U`+F>
M#?A\4.J++GX8O2RCB35JQ,\OKE<`RO.9+1U>LB![_E8/N/NG6,^ECJ\K)IV5
M)<+-Y_J$7)#ZYB7E.N95NDL/CMZF>;Q^*SH61>&A&CPSO8:-$89BQVD:B2U'
MCM(89:3F'?E92VTVE*$8\[.<^1*<8\N<Y_MSS+3;R\*U9=!N?=%I">+XE"4J
MVSUHPK&%8_H[[(9\F<8SCRIL_6A2<^3/_-*L85C/]N,XQG'Y<<4&^_"]4(]S
M[H=(B""V67,I4XTTYE"T.HRMM"LI<;\OHW$Y5C.4K1YRO,7CR*3Y<^3./+GF
MHI+T.F'Q/.J'T:M%?==5N8':\WJ:"ES9'PT;\^?#9/\`O[W-=%].'GZF54F\
M\H?2C]ZQ^'#K[\]M$_>Y'%+].+EZD*/>647I9T:\QEHX`X`X`X!_)UAA_'D>
M9:>QYKB/(ZVAS'F.I\QU'D7C/]5U&<H<3_8M/]56,X_)P#QW:O67Y4N<_703
MTT@\B1/F.B![DJ:^U"0.;>ER%Q\NR7FQ[;<!#CRUK1"0B*E6&$I1@#YFJ536
M/.RS4JRSE;BG5Y:`BF_/=6D8A;BO,B8\YQ2`H9*EY\JE)$C$YSG$"+AH#_7:
M73GWA$AZIUIZ17VXS(%]T$+<>",PWD2(;0AU<7*QK<5]IMZ,B&IE+#S:'&L)
M6A*L`(E+IP^/ZI`J=:A1?-@(]6B`A<:/Y@IYV0+1Z%F*AOS1LA]Y^`GS?)#>
M>==CX;6XM60/+JFM*%1X`T;5ZL)&1P\\\5&.985.GPB5HEOS;#.9*D5S"F)1
MA^2[B<]F9E;T?T</.?5&&&&P,YX!S&$A(J1?-[/OC![S\[L?V@B37G849QV9
M$8['[46S%E.+;4N1'96XXMIEW*VVU+6I"<94K.=M&OT0Y(ICWG\N1N;K/&CQ
MNUW6?$=AF/AW8=_==PRTAK#CON;]W-^D<PVE/GN>C;;;\]7E5YC:$^7S4IQC
MBGW%XEHSJCMB\/\`*$L\\0;XJEU_7G07\0NJ^9X-^'Q0ZHLN?AB]+*<.;C.6
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M\\\TNUYO4HWM7PC;H^D%V'^_"_\`-E%].'GZF4TF\\H?2C)]'_&>ZN_.V7^Y
MK;/(IMSFA!;R]T6V=[OBD[J_5X9]J`7,T&_#XH=46W/PQ>EE*W-QG+"O#8_.
M3L3_`-.HOW*^\RT^^O"M670;GW1:0G@>)-\+76CYNNR7VEZT\4&^_"]4(]S[
MH=(B"G-127E],/B>=4/HU:*^ZZK<P.UYO4T%+FR/AHWY\^&R?]_>YKHOIP\_
M4RJDWGE#Z4?O6/PX=??GMHG[W(XI?IQ<O4A1[RRB]+.C7F,M'`'`'`'`'`'`
M'`'`'`'`'`.9R9^>^[/I+]I?XC=H\VT>Y#D4Q[SY:(VYUN^-?UC_`%_O_P##
MGO'G%/N+Q+1G5';%X?Y0EFWB#?%4NOZ\Z"_B%U7S/!OP^*'5%ES\,7I93AS<
M9RR/PQ_S>[)?/J*^X[4/,E-O\D70;JYZLU!X@WQC:-\R;WVZG\ZH+8LEJ126
M0YQ:0D)CO]R&?]*(?NCW-)4=#/7_`.`?2?S1ZW^QH;GGFEVO-ZG/\4_/S=WT
ME>T/\1.SN;*+Z<//U,HCWGRT1L_KG\;+JU\XVP?X:=\\BFW.:.J.V+P_RA+4
M>^7Q4-K?Y4?[QZ?S*K5FM2RY^&+TLI<YO,Y8AX:?]Y=C?]>UK]ERG,E-O\D7
MP[D.<7L8+XCOP[:"^:7=?VQTMSJ@MBR6IS'9S]F0IYI*B][J7\57K-]'W3/W
M<UOGGFEVO-ZE&]J^$;='T@NP_P!^%_YLHOIP\_4RFDWGE#Z49/H_XSW5WYVR
M_P!S6V>13;G-""WE[HML[W?%)W5^KPS[4`N9H-^'Q0ZHMN?AB]+*5N;C.6%>
M&Q^<G8G_`*=1?N5]YEI]]>%:LN@W/NBTA/`\2;X6NM'S==DOM+UIXH-]^%ZH
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M4BDLASBTA(3'?[D,_P"E$/W1[FDJ.AGK_P#`/I/YH];_`&-#<\\TNUYO4Y_B
MGY^;N^DKVA_B)V=S91?3AY^IE$>\^6B-G]<_C9=6OG&V#_#3OGD4VYS1U1VQ
M>'^4):CWR^*AM;_*C_>/3^95:LUJ67/PQ>EE+G-YG+$/#3_O+L;_`*]K7[+E
M.9*;?Y(OAW(<XO8P7Q'?AVT%\TNZ_MCI;G5!;%DM3F.SG[,A3S25%[W4OXJO
M6;Z/NF?NYK?//-+M>;U*-[5\(VZ/I!=A_OPO_-E%].'GZF4TF\\H?2C)]'_&
M>ZN_.V7^YK;/(IMSFA!;R]T6V=[OBD[J_5X9]J`7,T&_#XH=46W/PQ>EE*W-
MQG+"O#8_.3L3_P!.HOW*^\RT^^O"M670;GW1:0G@>)-\+76CYNNR7VEZT\4&
M^_"]4(]S[H=(B"G-127E],/B>=4/HU:*^ZZK<P.UYO4T%+FR/AHWY\^&R?\`
M?WN:Z+Z<//U,JI-YY0^E'[UC\.'7WY[:)^]R.*7Z<7+U(4>\LHO2SHUYC+1P
M!P!P!P!P!P!P!P!P!P#!+EK.D;`<@.VX)[+."T2&X*O9(O`]`B6IE4C'D&3X
M6'?2*CM9\KV',H\S^IE.%*\X#1"^BO49Q^7)7H>D*D$)Y`K.?RP1]+,)EIL@
MD4(RE^R'G/SB1&7*GSY3N5/RYLE^5(6X\\XM4S>+ZD23M29]0[I'U2#DH!D5
MI*H#BXMUY\84A8*QB`Y^3"E#9#\&8T21(B//CITZ`\ZPXVMR%,E15JRQ(=0M
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M9PI*DY(9PI*L9SC.,XSC.,YQG'DY,WB^K(DL%T,\A]8]&#H<4>/H<>#`@QF(
M<*%#-V>-$AQ(K26(T6+'9-(9CQX[*$-,,M(0VTTA*$)2E.,8@DP=SHMU'=?F
M2G-$4A<DA/GE)[ZF2.79A,K-?)%"$ISV0\Y^<2(RI,^?*=RI^7,D/RI"W'WG
M%JF;Q?4B2=J3/I'=(NJ(@F/-"](T\<7$O/R!92%@K&(#9$F#+%R'X$QHDF1$
M>?&D)X]YV.XVMR%-EQ5JRQ(>0M-NULE)*Q2R,E,]5>O]B&R0Q_7`XV(FX:Q,
M%EBMB(#Y6&7FY+.)$.68=CO>AD,LOM>D;5Z-YIMU'FN(2K$`P_W"G47_``'I
M'_9)?B')F\7U9$E@NB,@K_3_`*UU/U[VKZG`UW)-QATCD)+."\SW8S>68SDU
M4(JSF4N.TI3;"GLKRTVI2&\I3G.,Q.=I/"X_@?Z;=8[7+A3[/J"MV&<-CRX8
M^::D&B<N#$GNQ7IT6)(F%'GH\>8]!A.RF65H;?<AQ5NI4IAK*4Y6"VVL\;W"
MG47_``'I'_9)?B')F\7U9$E@NB,V&]7M#AQT`0(U]#%BA4**-&#!YFRPX`X?
M!8;BPH,&''--QXD.)&:;CQHS#;;+#+:&FD)0E*<028:_T9ZDR9,N9(T52GI4
M^;,(SI+C1)3TP@1E/3B$Z2YDCY[\R=-D/S)DES*GI,I]Z0\M;KBUJF;Q?4B2
M=J3/Z0>C_4X81'EQ^CJ;"*B9"Y@HE%248G#9;D63!7*@2FR*7XDA<*9+B*>8
M6VYF-*D,95Z)YQ*DV[6Q)*Q(RDQU6T!81DL*?UP/-")[>&IPLJ5L9`?,:2M#
MJ6Y4.69=COH2XVAQ*76U8PXA"\8PI.,X@DP[W"G47_`>D?\`9)?B')F\7U9$
ME@NB/?K_`$^ZU5-4Y=7U,`KJR>8V2*PDLX,7/S#2ZF)ZXN&595)]52^^F/Z;
M*\,8?>PUYOI5^=$YVD\+C^=@Z<]9K9(@2[1J*NV*4*9G1QDDW)-DY`Z.47!=
M),07YA5YV*R0<%C7)K3"D(E+'P5OI6J*QEM.5@MM/$]PIU%_P'I'_9)?B')F
M\7U9$E@NB,T%]6]"@Q@X(%UY!$!@\"&+$BAA>R01HP8/CMQ(`\?"C&6HT.#"
MBLM1HD6.VVQ'8:;9:0AM"4X@DQ&5T<ZF39DTA+T93),\C+>GD)CS9-R3.G25
M>?(F2WU$<N2)4A?]=^0ZI;KJ_*IQ:E9\O)F\7U#2=JGF?[%Z.]3(,V$1AZ,I
MD4@-E-3ATUALFU*@S6/+EB9#?01P[&E,Y5G+4AE2'6\YSE"\9XF\7U"25BED
M;YIVOJA0&)T:HB/8EDDZR_-1Z^3G^F=80MMI7G$YLU;?F(<7CS6E(2KR^56,
MYQC.(!F?`'`'`'`'`'`'`'`'`'`'`(`G]?\`8\AN`Q8*5,V?4Z0]98?I0]KV
M2),5V62A;4U(2Q?*\.CWVR$H5.):S!;:"EM=NQ*N(\P]3V!U!B6"1:+3'$U2
MQRG@[;+Y8Z'NZ^HO9N#LF@%K+8#*:,-)S%V043M[193@3$[MSZ6$0CME9^"D
MXABY]8I8J3Y9K@^!1B,)R8-7">B%PJEQ_P"?V2IV2S/D46S,"P=FLI%T:I$0
M#3[0BE60H\IUK"8HRV+L-34`4O\`MDDH]B$S6(:9&8$GUW,=MP00@INLNV8@
M=7XY2V7HOD:<U%DU,L=W$>S]D`A=VZF,/OR8HNT$@@<J$T<%V+6=MCQA)X=L
M2TFUO0)=U;=8,*'56N5C]Y2X6DQM4#+F*%V]F[N$'9<G:&R20!1$LV8<Q2R=
MM)3JBU&>;FSLPX#`-^(Q"%.K8<%QVT0LPXJ64-8')I[LQ5-MVIP"SJ'&QQ-C
MAU[83D2U5N]"J_28Q0E0[/7`8*X5R;=0L@DN:9/0+")L[-/N,BI'*L#>@LCL
M3B!*$)7*[/E_U&M)U`[#*K^UQQ_.U3\:RU.8)HC-$VG!`VFM/DM[;U)UJ3'*
MRMDTIQJQ4/4-JU+BP3&;="]N$BH(KTBS&VVGG7A-57G/)9WSR)X#</X'#\2L
M2L2<0HN)&)ZX;D[#^&&\.XF.#_\`@%RL.>=ZPN#_`,&I[SU1O_DY1P<D#K/K
M_L>2W!8K!1IFSZI2I!2*PT)M&R1)6M2+'#V3KPC#V2`&Q[[82<*DOZ^&[,!6
M+6K\&M"9;!2D9@T%=C?M5D@CJ:EC_P`>/&5?F;)I%.W2S9M7SCLNSQ8U<NF[
MIMVR:N$HL,.4"TV;:[NL`K,8=?Y<.:>K<*3KR0YD[3"F881R-"%VT9-"DPTX
M157Q2ZU5\ZR0M_;FNTNRMC@MBL<]0J3B(`J=D:IUB,/^;C+8X7:GC5=Q7GY:
ML>A47;.#),%E3LB)+;E(9\H@@A6]8=M1:ZPV]:K\1#B"6J6R?MEO8K%G.@:_
M=>H+TMPFU`MYT9'-1*91>R[6R&(UA(1[O.O32<%[I[+MX%#JK7+]UGE(E9I@
M7N,<4W)(VXH2MHYLY@UK[V&MT^S0(M-5KC7PEP;"A3JW7,UF!%M`BQOMB4M2
M79$V81*2Y$R3.<,%Q#E5+"O.;,&[157;5M$B(&FE["#71L/?5@;K5[J*KU2K
M-AE4XH(K3=]K9*X!D6D1//E!L]3ZJ?L)ZOQP,N0%&A#\V`;C@N-F%_+_`*C6
M[^M>PA(=>`Q6R;;#B[%7[>.K!*DWNMR+C5LE.P5@.TMK,FRW")%=GA=5S`P^
MT&(1:.=S4VIE>K=I=M<$1/P%5576RQ>\R:E3CFXM5K46S>HYL<:OAH]@]BY1
M.<-]FV1T9LK['3C;TDS,@^OI?]4E%Y$@G(C^C>GO.RUNK4((0[#U_P!CS6P[
MX7UI,V?40TY+@\)&LFRA4VJ*NL>$?34MI@1T:^'B`ZBCYQ+,6]ZOD@Z^.-BQ
ME*)1J?83BK-Z@)JJOQEAA9YI\+#):55.T@W:5:(FRCDG7$6W;9]<$&+"@BXS
M6;+MW>Y\41)R8=BQ.F385!D]?@^M1CL6RC:X.BWT*7&5V4L45B@Y::+^Y\N)
M*V]HF.4VRH'!K!8IV1$SU0#5K$S4;"9?PWG+8L3:'S%?17I4Y6,1DF$FQ3P]
M#BY,:;'D-M+P(($UW6';46Z!2NT[`G@A4[6+<ABRWX5FTE`8&T]-W)N"F85Q
M/#\%V*]0NS^;NGVS%_;A[?([$D];W3&4#AU-88Y?N_*E5=<3+UG2RE3*;,FS
MR-HE0;+>%$JU!LMYL]U4+`QZ\"@O8A)L1PXS7XQ6SLV4U&#!7(0^(*("HN1X
M]V+F!$'.!K'M/5]LVZK"!&EG;X#OREEWJ]?*K;Q0&MTHTU$CJ#R]@UPK;`K-
MUJY2=Y@XF/\`:O?W1@%=@)"0#-J16YB!*E?T_'_4:E,:][3/QG6:Z>M85I\7
MM)L'DE=HYV;6DE=WZ>-Z[8LC3UO8>NA`+01&T'94>+:0LHA62V-=L;*JDXC$
ML8<3-:6*5U?GROE<3'UC"LXW6VO1UV6XY<X%'J<*W+>*^SKR[/%`P&#ZW3>6
M8_LPXHJW+RLKZNQ[(*SF7Z%KTWF)')#G<.O^Q]@N6Q9^HIFSZDT0@.C1+YO9
M(ERES;#&U9N6#4;Q5A3-]+3ZV(&[*N6OE7*H*J59C&A-"$'I,*XSUS!"!TFK
MZ];5[3EF90*UQV/7;Z"67>S@H*+VYN(E:@Y<JDQ"<UO.W%?[32<19$.UN>RK
MYW712JT:#6[``+QJ8*88*!IU1,5E(VR"*J\EA;5\_P"DUN"!P!P!P"O/WV'P
MY/E=ZC^LR7X9P=]G'W6/?8?#D^5WJ/ZS)?AG`[./NL>^P^')\KO4?UF2_#.!
MV<?=8]]A\.3Y7>H_K,E^&<#LX^ZQ[[#X<GRN]1_69+\,X'9Q]UCWV'PY/E=Z
MC^LR7X9P.SC[K'OL/AR?*[U']9DOPS@=G'W6/?8?#D^5WJ/ZS)?AG`[./NL>
M^P^')\KO4?UF2_#.!V<?=8]]A\.3Y7>H_K,E^&<#LX^ZQ[[#X<GRN]1_69+\
M,X'9Q]UCWV'PY/E=ZC^LR7X9P.SC[K'OL/AR?*[U']9DOPS@=G'W6/?8?#D^
M5WJ/ZS)?AG`[./NL>^P^')\KO4?UF2_#.!V<?=8]]A\.3Y7>H_K,E^&<#LX^
MZQ[[#X<GRN]1_69+\,X'9Q]UCWV'PY/E=ZC^LR7X9P.SC[K'OL/AR?*[U']9
MDOPS@=G'W6/?8?#D^5WJ/ZS)?AG`[./NL>^P^')\KO4?UF2_#.!V<?=8]]A\
M.3Y7>H_K,E^&<#LX^ZQ[[#X<GRN]1_69+\,X'9Q]UCWV'PY/E=ZC^LR7X9P.
MSC[K'OL/AR?*[U']9DOPS@=G'W6/?8?#D^5WJ/ZS)?AG`[./NL>^P^')\KO4
M?UF2_#.!V<?=8]]A\.3Y7>H_K,E^&<#LX^ZQ[[#X<GRN]1_69+\,X'9Q]UCW
MV'PY/E=ZC^LR7X9P.SC[K'OL/AR?*[U']9DOPS@=G'W6/?8?#D^5WJ/ZS)?A
MG`[./NL>^P^')\KO4?UF2_#.!V<?=8]]A\.3Y7>H_K,E^&<#LX^ZQ[[#X<GR
MN]1_69+\,X'9Q]UCWV'PY/E=ZC^LR7X9P.SC[K'OL/AR?*[U']9DOPS@=G'W
M6/?8?#D^5WJ/ZS)?AG`[./NLL,X."/N_-_B-%OZ8%31L2<:WON05I&ER#AS%
M3IHZVEZ9>+N/5;[9D6=6$CFHM"GU:K,1`A<C9=@GZA4X4-M1Q9"`)2G/@I\;
M4JNO29EU<VJ&?$TQ&PG0.K;[<80]]C6MDN`!=FCS"LI^(/%QVO3Q'"TV2_'7
M':0/B.>EFMOPV<.O1W.!*V5:5Y]+^Z-.Q@KEDD[8UI'KK(&V6EX\_>ZLT%:K
M%!,1:[>K&X4<*I@H`TNP3H0.V%U/X'UPQ,BC#$B'-D-,+$2>!^H^Y=02F8$B
M+M;6TF.4L!&I#'X]YK#S)&U"+)%II:LP'6RBD3+`,N$Z%5"(:.IPE"LDR*"D
MQFBDAJ*L)?//0_N3VYJ@+BW9,[.UZ)QK\>@O?<D[I6X&*2*<>?C-D[=F42:]
MK8]R1%E,(FF?4HRGHS[27,K9<2D#%=Z;WJ>AJ]629Z`:LEDV#>0&K]7:_JS,
M&1;=C[&LS<Z2*JU?05GB@\7+(D2<LQ\V<*B@%8J5>L%E.$H8P3)=P)2F:4V]
MVEV/HRL&S=^T/&=G>VWKE0]?1*IL]!L5LNZ=BMKJU'!J00H2HE?)03U#+R0M
M@N#<VN9%(J9M@L.+S%0B4:()2G8\6ZK$E.=]WG48@WWW&$!=:0"UE/+VVP=T
M9_2-D*W:XB:^4O@(.7L]JO%*MT<+-1<->5*J5ZRFK#/P&#G!KU1N`"2#:L->
MDC'`V9?Z[5ESLGG5C:2[J=^F6F^[3J38!N*'UF4J]?594E\R5&+$=J(FZD1"
M@ZAD58U8('8ZQ*<E)($8T]!V.EE;4B-.C1QS[FAM4]TM47JKWNY7FQT'3E=J
M>R=[4D(2O.SJP-C7*L=>MDSM2W_:8QPUBO8BT2+>ALP/@L[Z>''SF"]+F,H*
M#O6!+3JOJ3JXJ:\JS=4'?&FR5JV)2X>RJ>[8]2LU-W9,)1R"RU3%W=MU^KQ#
MT]YYL?!(E(Z8TE`YR5B<Q&*@GY+#+1T0J8(D]?*T_A/[#Z`%8&J)[ST\.28#
M`[$(S/V;2H>"M?LPBP6"MG1N9!MO$X-80-3M1L&3B^EA%A%9L!*`_(AAB+T8
M3)X,]L5N'49T>=+!-I:Y,"JO(#P[,3%7>LD!]=EV**/FU^*=FQ";T81(.PBP
MN6'8(.1W2<4D/D0DOM3(ZW!$C7-B[8]>0+ZAB-PZQ(G7]9WW;0N`WL"J0QD^
MDZX*,5ZS')5MFE&JH"%PK+(]@7"1PO!BHFP+`KSU,56RNBA,GAPYFRHNS:>R
MJMB;18JK3[K8@XTFFB&+A656*._.$$3#T".Q&)N),>IQ@EA<S/$>MP)<6OF"
M$-]V#!D/MB#XP&Z]-6IDQ)J^V]8V2/7:T'N=@D`+[53#(*GV%HB^`M9AT<5D
M-C*T<8#EG@YV:I@62:%D7(4IY$*3EH)?CI:8)8.Q=59O&C*;0GJWLY&X]CWJ
M@D3%6N0V;&HL?7>M[C>K18"*1<0S'(H$EZX!HA,0J>*GCK%>JYZQGT.926Q,
MOF/SV)$\$#@#@#@#@#@#@#@#@#@#@#@#@#@#@#@#@#@#@#@#@$0NVVB[WV+U
M[L'3K36K3.K]G:M/4<J*O\4Y@A5;R1FLR*SM@')"PI;I&=KUV/'.`ZXQ,J9.
M39X8DL+O]/F"6IDD2G*3^9?.AJL3TBL"CMD;N6S';H".=AM)=@9UF-HFR]A6
M=77.BZPB:;UJ?D94S!&U:J[AUM%W!/F!YBT6`@0.C5@!A*W6>RSA.U9DUE-N
M>=3E7[&@ZKX:NTDT0[2KYN*K%T7/JSU_ZQ6N<&#V2)*0!"[?L5Z[:$04A1.-
MZL1['UNQD&"1E^.HABWNCR3[<(%7H`62#BKYM_\`STZ$SQ77(V#W=MRZP':!
M)H6SJCI\$"'D0&7R^JU:?7;"(@15*[F&Y5YPIVYV-O9`HJ_+%RJ_;<$%N!CF
M71<X0(G4L:Y\9_)/_I@O6;JC;=`:AHM(D(U3:;O%$Z]H>W;Q8\;"NTW:%+K+
MIZ?=;!F5:3:I`:S;`M=DL6PL5;,>=50ESMMO*%YMU*GIAQT&YOY5P]LNALCL
MEU_L>T[MUHW#0C(.%L;JWM:P[(K-?N&2#=+O(R[ZHONG+E539(3&(E*O/=K5
M_F%JU<(`6QN`C8J,U*K9@:1GQ\"4Y)JZ)2?)IK0PC?76*X]G2_7B!N/^C$SJ
MC7FU;/M+:>J_5S9$9;DR=0WK6U&IS1&>.;38QU1.7V9?9Q@H+K>3AP%7O500
M%,+"L`FE.4YRDNJ<^BE*NVTUY1NG&UM<U#HW&9MU(V+9NCL>_5*N0+(\;J83
M8-//Z_*:DIEK)G18&SSJQM"J:\D,0"L]%:M`JS23%W3G(I5AB3PX33<5VUA=
M7.5U4_8F34J/;J7K^ULPBH`OM:US[?<2-@G1)T&MRKS8E/*#M2([:R!7-7J0
MYFO4X0A;D@JNI5<4S(=5-]([P<Z?/GL5N,>&18E:-H^K"=_K!,K1.F<7JQ#(
M38)J1`+&]MWD8;[H[&(K1F+(:([_`*S60(P8J/$S.K!$C95R)!*+*;PX.MJN
M<OW3MZ*?`V;9>DFT+'>&[N5O]5*HF]L;7V`L]4@3-@T$;8A4G0L+K]K!UT]4
MS.3\&Q:CK("K&0@.(X@.1/#II-%@#'GQ%A`AM>F7G-]7C=T,FN'11NP@NT@P
M*?J]2F[OTKK;J]K.37JTZ.@Z/Z]4NC3JU/KM,&HEO(#&UG-A;?.@7A#L>)!;
MGT6%+5*S7%O+!.S@YYOSP1BS72#9E<V_G85&NFMQE8B;H*[$K])(`+"Y``#1
MW6:I]>]32\I;G.Q39+5+8.PV`15B##8:?8;O8KFZ?C'E#8HT)U<96_=,PD?X
M>>TVM2DM9E-E:_)X*=9.JG6LE+>`6)2#->UIM4W=^RT@FO,]*_6>P59LYVO'
MB#+'GF2GL(8F#@3`I\<3#:KYQ-9M58V,V>:Z4["+8N\E.S@S-BE=@ML]HJG;
MUCBCI8WM,[KTU0-!"[S'4]Y8-#Z^"28.!`$`R1"=;V=>T60J;6H4:Q5ZPAM<
M+DN4YOJ]6:\%>'1:-?FJ#'UE<J2WKO6S_4.L"Z7:!EB6JU:KZKU7:<@!7K<1
M'35I?)Q-\;0=[`,OM19";/8:P`KQB6'CQ_9E(;5LU6]JOC%+\2OM=YN'KSU)
MV3JK8>N+Q>[]3[D[3*;V:BE'QH$J.(F+_P!HM^C-V["M3;;LS`YG,^57JY#A
M.^A1BMCHA2L"1KHXODG#!N<ZI6=$I?,2P/@Y'`'`'`'`'`'`'`'`'`'`'`'`
-'`'`'`'`'`'`'`/_V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>31
<FILENAME>g908770g85z93.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g85z93.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X5U\:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](EA-4"!#;W)E(#4N,2XR(CX*(#QR9&8Z4D1&('AM
M;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN
M=&%X+6YS(R(^"B`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@
M('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(*("`@
M('AM;&YS.GAM<$=);6<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]G
M+VEM9R\B"B`@("!X;6QN<SIX;7!-33TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+VUM+R(*("`@('AM;&YS.G-T4F5F/2)H='1P.B\O;G,N861O8F4N
M8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C(@H@("`@>&UL;G,Z<W1%
M=G0](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP92]297-O=7)C
M945V96YT(R(*("`@('AM;&YS.F1C/2)H='1P.B\O<'5R;"YO<F<O9&,O96QE
M;65N=',O,2XQ+R(*("`@('AM;&YS.G!D9CTB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]P9&8O,2XS+R(*("`@('AM;&YS.G!D9G@](FAT='`Z+R]N<RYA9&]B92YC
M;VTO<&1F>"\Q+C,O(@H@("`@>&UL;G,Z>&UP5%!G/2)H='1P.B\O;G,N861O
M8F4N8V]M+WAA<"\Q+C`O="]P9R\B"B`@("!X;6QN<SIS=$1I;3TB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+W-4>7!E+T1I;65N<VEO;G,C(@H@("`@
M>&UL;G,Z<W1&;G0](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP
M92]&;VYT(R(*("`@('AM;&YS.GAM<$<](FAT='`Z+R]N<RYA9&]B92YC;VTO
M>&%P+S$N,"]G+R(*("`@('AM;&YS.D5X=&5N<VES1F]N=%-E;G-E/2)H='1P
M.B\O=W=W+F5X=&5N<VES+F-O;2]M971A+T9O;G1396YS92\B"B`@('AM<#I-
M;V1I9GE$871E/2(R,#$U+3`T+3(R5#$V.C$U+3`W.C`P(@H@("!X;7`Z0W)E
M871E1&%T93TB,C`Q-2TP-"TR,E0Q-CHQ-2TP-SHP,"(*("`@>&UP.DUE=&%D
M871A1&%T93TB,C`Q-2TP-"TR,E0Q-CHQ-2TP-SHP,"(*("`@>&UP.D-R96%T
M;W)4;V]L/2)!9&]B92!);&QU<W1R871O<B!#4S8@*%=I;F1O=W,I(@H@("!X
M;7!-33I$;V-U;65N=$E$/2)X;7`N9&ED.C@V1C5!-$,X,D5%.44T,3$X,S-"
M04(X.3=!,S<Q-#@S(@H@("!X;7!-33I);G-T86YC94E$/2)X;7`N:6ED.C@V
M1C5!-$,X,D5%.44T,3$X,S-"04(X.3=!,S<Q-#@S(@H@("!X;7!-33I/<FEG
M:6YA;$1O8W5M96YT240](G5U:60Z,3-C-S4Y-SDM-&,R8RTT-S@W+6(U-6(M
M.#EC8C4X-V$R-&0S(@H@("!X;7!-33I296YD:71I;VY#;&%S<STB9&5F875L
M="(*("`@9&,Z9F]R;6%T/2)A<'!L:6-A=&EO;B]P;W-T<V-R:7!T(@H@("!P
M9&8Z4')O9'5C97(](D%D;V)E(%!$1B!,:6)R87)Y(#$P+C`B"B`@('!D9G@Z
M0V]M<&%N>3TB4T5#04PB"B`@('!D9G@Z4F5T=7)N5&]086=E3F%M93TB,B(*
M("`@<&1F>#I2971U<FY4;U!R97-E;G1A=&EO;CTB0D535"!3=&5E<F-O+G!P
M="(*("`@>&UP5%!G.DY086=E<STB,2(*("`@>&UP5%!G.DAA<U9I<VEB;&54
M<F%N<W!A<F5N8WD](D9A;'-E(@H@("!X;7!44&<Z2&%S5FES:6)L94]V97)P
M<FEN=#TB5')U92(^"B`@(#QX;7`Z5&AU;6)N86EL<SX*("`@(#QR9&8Z06QT
M/@H@("`@(#QR9&8Z;&D*("`@("`@>&UP1TEM9SIW:61T:#TB,C4V(@H@("`@
M("!X;7!'26UG.FAE:6=H=#TB,C$V(@H@("`@("!X;7!'26UG.F9O<FUA=#TB
M2E!%1R(*("`@("`@>&UP1TEM9SII;6%G93TB+SEJ+S1!05%3:UI*4F=!0D%G
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M9#1E6'`W9D@Q*V8S3T5H66%(:4EM2VDT>4YJ;RM#:S535FQP95EM6B8C>$$[
M<6)N2C)E;C5+:G!+5VUP-FEP<7%U<W)A-G9O4D%!24-!44E$0E%514)1645#
M04U$8E%%04%H141"0T53355%1E523FA)9UIX9UI%>28C>$$[;V)(=T9-2%(T
M4TY#1E9*:6-V17I*1%)$9VAA4U5Y5VE9-TQ#0C-04TYE2D5G>&15:W=G2D-H
M9UI*:EI&1VED:V1&53,X<4]Z=WEG<"8C>$$[,"M0>FA*4VMT3515-5!2;&19
M5U9P8EA&,658,5)L6FUD;V%7<')B1S%U8C)2,61N9#1E6'`W9D@Q*V8S3T5H
M66%(:4EM2VDT>4YJ;R8C>$$[*T1L2E=7;#5I6FUP=6-N6C9F:W%/:W!A86YQ
M2VUQ<39Y=')Q*W8O84%!=T1!44%#15%-4D%$.$$Y531Q-T9867%G9&1.=4Y%
M,40V>B8C>$$[1$YC,B]W0E=M.6$S=%))6C5%-$AK:U%I26LU<TYL-$AL6'!V
M:7(U<FXX<6$W8V%+6C=444PV,6IV4'(W-F)O34YH97AP<&5O4TQA>"8C>$$[
M,DQ$,5EK*TU2=T]Z,TDK04]7*TQF8W$Y03%Z42]/;'!E*V9%,'$R,4A52F1:
M1VY2;3=$4FE264AJ;DXP3$YP;70T:C93;C`P5E164R8C>$$[=TI$1W165CA/
M;&%S+W=#6$@U95$V<'!&,C)L868Y6%1Z3&]R=TY033!-9')*1D=:8E-,,5AL
M:D4S0GI(>$Q5<'E5145!2W!,<5!N2"8C>$$[5'(R>7-V2V5L-G!P3V=J-F]D
M1S!I87E-<TUQ>3-S:3,S,3)A55135V%X=U5K:&HY4T]I:T-N-TE64S)$6&9Z
M<U138E-3-79B.5IR:28C>$$[=W-B,C9-;6Q(,45N96$T:G5B3TPV<G`Y,S94
M;4]/3GE:64@T,3=":&EQ:F1A<BMA.71C,RMO861"<3ER8V%R3'!R,U%U8E%4
M=&(R+R8C>$$[,4@T>6I7.6AC<5=&=T]-:7!#>$@X:6LX9U934%9T1"]!1$)/
M<&%R<6-U:GI8=7!3,G5O3SAQ861,3F%Z5'DV9'!A+T)"8W=K37)Y4B8C>$$[
M>4)59%`R4TM60D%#<VTQ6'I8*V-X=6A95V-7<%)44EA6,T9D6$LV67)X96MD
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M>'1O-VTT=#=&-VQ7=&M-0VU0,3`Y1E$P;W%76E=90W5W=TMW97<P-SAX=$]T
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M82LP-B8C>$$[*VHP>E%B.4QH0DI"2V=29%5T-4I*+U5$3#A0,65A,TMK;G`V
M9W)U,DMV<'I&6%EQ-T95;"]W06)E5%`K<B]P,R]36$(O=T$Q-'$W+R8C>$$[
M04)T-4TO-G8K;F8Y2F-(+T%$6&ER=CA!1S-K>B]Q+S9D+S!L=V8X04YE2W4O
M=T%B9510*W(O<#,O4UA"+W=!,31Q-R]!0G0U32\V=B8C>$$[*VYF.4IC2"]!
M1%AI<G8X04<S:WHO<2\V9"\P;'=F.$%.94MU+W=!8F544"MR+W`S+U-80B]W
M03$T<3<O04)T-4TO-G8K;F8Y2F-(+R8C>$$[0418:7)V.$%',VMZ+W$O-F0O
M,&QW9CA!3F5+=2]W06)E5%`K<B]P,R]36$(O=T$Q-'$W+T%"=#5-+S9V*VYF
M.4IC2"]!1%AI<G8X028C>$$[1S-K>B]Q+S9D+S!L=V8X04YE2W4O=T%B9510
M*W(O<#,O4UA"+W=!,31Q-R]!0G0U32\V=BMN9CE*8T@O0418:7)V.$%',VMZ
M+W$O-B8C>$$[9"\P;'=F.$%.94MU+W=!8F544"MR+W`S+U-80B]W03$T<3<O
M04)T-4TO-G8K;F8Y2F-(+T%$6&EQ:&8K6B]Y.3%#,&QS<B]6=$IV3"8C>$$[
M3UEC6G)A931T<%EN1F$P6DA9<5)59'AI<7)&-7DX:GA22D9&<FUM4GA2<49J
M:E<V=#%65E5504%$54%!>%9D+VIB>5HO=T)8+U1V*R8C>$$[:W5$+T%*<GA6
M,RM.=DIN+T%&9CE/+S93-%`X06UV1EAF-#(X;68X058O,#<O<$QG+W=#83A6
M9"]J8GE:+W="6"]4=BMK=40O04IR>"8C>$$[5C,K3G9*;B]!1F8Y3R\V4S10
M.$%M=D989C0R.&UF.$%6+S`W+W!,9R]W0V$X5E%T,S5I+TQI.'5,831U.50P
M931U3$IZ2EIZ4WHR<B8C>$$[=D,U1D,P5$UX2TU2,UA&558O:F)Y6B\Q9CE/
M+S93-%`K83A69"]J8GE:+S%F.4\O-E,T4"MA.%9D+VIB>5HO,68Y3R\V4S10
M*V$X5B8C>$$[9"]J8GE:+S%F.4\O-E,T4"MA.%9D+VIB>5HO,68Y3R\V4S10
M*V$X5F0O:F)Y6B\Q9CE/+S93-%`K83A65$@Y1V%B+WEY42\X:3`O<"8C>$$[
M:7)V,%IP=B]!0WE1+W=$2710-EEQ-SE'86(O>7E1+SAI,"]P:7)V,%IP=B]!
M0WE1+W=$2710-EEQ-SE'86(O>7E1+SAI,"]P:7)V,"8C>$$[6G!V+T%#>5$O
M=T1)=%`V67$W.4=A8B]Y>5$O.&DP+W!I<G8P6G!V+T%#>5$O=T1)=%`V67$W
M.4=A8B]Y>5$O.&DP+W!I<G8P6G!V+R8C>$$[04-Y42]W1$ET4#99<3<Y1V%B
M+WEY42\X:3`O<&ER=C!:<'8O04-Y42]W1$ET4#99<3<Y1V%B+WEY42\X:3`O
M<&ER=C!:<'8O04-Y428C>$$[+W=$2710-EEQ-SE'86(O>7E1+SAI,"]P:7)V
M,%IP=B]!0WE1+W=$2710-EEQ-SE'86(O>7E1+SAI,"]P:7)V,%IP=B]!0WE1
M+W=$228C>$$[=%`V67$W.4=A8B]Y>5$O.&DP+W!I<G8P6G!V+T%#>5$O=T1)
M=%`V67$W.4=A8B]Y>5$O.&DP+W!I<G8P6G!V+T%#>5$O=T1)=%`V628C>$$[
M<3<Y1V%B+WEY42\X:3`O<&ER=C!:<'8O04-Y42]W1$ET4#99<3<Y1V%B+WEY
M42\X:3`O<&ER=C!:<'8O04-Y42]W1$ET4#99<3<Y1R8C>$$[86(O>7E1+SAI
M,"]P:7)V,%IP=B]!0WE1+W=$2710-EEQ-SE'86(O>7E1+SAI,"]P:7)V,%IP
M=B]!0WE1+W=$2710-EEQ-SE'86(O>28C>$$[>5$O.&DP+W!I<G8P6G!V+T%#
M>5$O=T1)=%`V67%I8U9D:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D
M:7)S5F1I<G-69&ER<R8C>$$[5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D
M:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D
M:7)S5B8C>$$[9&ER<U9D:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D
M:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69"8C>$$[
M:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D
M:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U95-R8C>$$[;35T<E="-VDU
M;%-#0TU6:VQK64EI:GA,3E%$1E=0,U`U:F5464=+:E5"8T5D1W19-6)H0V9!
M4U%O.&8O04$R2W!:8V9M-35D:%I".28C>$$[579N16IC15E2>$-P0VQU:GEQ
M4G-P-FI$4TQ6<F8X,2]+56AP3S%Z86YW:W0U2"]'051$1VQT4&1,.#`K6$Y6
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M6D]$.'%C=E1%;U`X05!5:D95*S`T42M8-61-.'92<&-3869*2$I&65A5:D=B
M,#)H2B8C>$$[9$QA4G50255H,FED,E!)25%X-55,<7`W:7)S5F1I<G-69&ER
M<U9D:7)S5F1I<G-65U1Z>%<X16LX>F-)66Q:-4A06E9&4V1V8D971B8C>$$[
M4F9M2'$P9'1P,G(V;&]0,5!Y,W%S<U56<F5,8VUA-VI&,'=7,F4T=$9H2$%3
M<S9I:5-U=W%+:D95=C!N.#AF3#$S9%)P9C)T>'`Q<"8C>$$[2G`X5V]F5W!)
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M9&ER<U948GEN<F@P4'I&85@W3GAT6%`Q82\X4%%L24A-*TAP3T9E=F=#3RM"
M264X645R6EEO-5EN:28C>$$[:U5.2$EP5C%046=I:$=+<V5S2CEC,$<R5S`Q
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M9W%G5U)K=#=61FU,:$1Y6#1M2W%66FQ5+S`W>DAR;#-C,D54841D4E)89'1&
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M,WEX<5AM.%!C45`Y4C!7,UDK:F932GIA-6Y3;T%I:G%V-W!'*S(U3S4K1F4U
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M='9&8B8C>$$[5S!3=S(X2VE/1T=-0E561D9!<6=B04%91E4Y4C`R>#%+,&MS
M-S9"8FDR:RLQ1S0R<4YW465O24\T23-'2W9-4$TS:U!59$@U,U9J>B8C>$$[
M=CE,1S5!2$LT:$@K54(O94E0-6@X6&E$=3)&5TUO-D]G9$=$27=Q<D$Q0DAS
M4FA1,VER<U9D:7(Q>CAP-U%W*U90<D)/.3=D5'IC9B8C>$$[05)S3&-F94E+
M+U1G2U%Z3$%L,DMU>%8R2W5X5C)+=7A6,DMU>%8R2W5X5C)+=7A6,DMU>%8R
M2W5X5C)+=DUV>E4P,'=A=EDV;V\O9"8C>$$[6&M2=$I44V=%<TIA5U`U;#!A
M5"]!241#149H=49$<U95<$I8.59,94-.<FDW;'(V5G5N56=D5UEN6E5&4E9J
M=#E.3594>GDW-51U<B8C>$$[=E5E06LY4V50-&11,4I.:W166F$O5C=114@Y
M.#10>$]D=W4U<%9%=TIE;C)&:%HV9EIW,E9L0W-&<D%V0TM*3V=(.%-E<$HV
M-$921R8C>$$[2W5X5C)+<TTX,"]L,V)8>E-8,FM&3%!52$IE5T4W451T-'-"
M6#`S4#@V:F8Y;TA#<GII-&=U8E<U93!V25AT<G5,*SAG:T9'07)1328C>$$[
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M=2]&;FI7;%9'-#1M4G$O=31W3TMJ-&E+8DU%=E$Y33`R>3!Y>&ES8DM0,')A
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M03AC34Q65G!P;%!696]64#)Z=#`U1E95,C!84C=$4G1,=#E.<TDO5'1B9&5+
M3'15:VUR36%5,UII4V-5;S-&6%EQ-R8C>$$[1EA9<3=&6%EQ-T9867$W1EA9
M<3=&6%EQ-T9867$W1E=N9%52;EDP5E%3>%!91')I<G<S55!Z0FDQ<E5*66MI
M.4\T=5AD635'1%-1=B8C>$$[07%K>'!C=T@Q239X9C-I3B]/3TE+96]:1DM%
M3C5B.'8K5VTQ,GIT6G)'2SEJ;61%;6$X4DQG=E)1<&(T>'A5=%-R8T955C=9
M<3$U."8C>$$[+TLW>6HU6'9&.#`V2G!S2U=L=&)Z=V$Q<'I,4&-&<E-D9E1N
M;7,Q-3A6=55G85)616Q9="M20SAA:TI29B]/3G8U;'`U:&LQ<E%28B8C>$$[
M3F%W,GHO6#E/=&DV3VM%37A!;&=J-')#1FE353%I4EDO9U4X86UL8U9E-5EQ
M>'E847!D26YU3'I2649K=')Q47HS,FU,>%)M;%E!3B8C>$$[3D%X;T$U0R]%
M:F9#,C%#<')Y5E).:G%&<&921U,R:S5C1'AL:EE&2DDS-CA*23)!9$<Y;4%/
M2T54:7)S5F1I<G-69&ER<U93,3E2=28C>$$[3#)6-UA25E-E5D=+5#-R,4YT
M05)S47A5:C%(2"LK,5`K<U8R>%9.=$PP;3,P-DIG:&%A-&Q)835U-65*;&UC
M0VY*>6]58F1!04%&1R8C>$$[=T%'2U5B:7)S5F1I<G-69&ER<U9D:7)S5F1I
M<G-69&ER<U9D:7)S5F1I<G-657)X2&MT2C!J1EI(:EI52%-P2VM$9D98>5@K
M56UR-B8C>$$[9F,K9EDY2#%L6&E&.49,86-88C!8:FY5:5)626(Y;VU,:'A/
M.514<G1H=&%E,6$W;T]H-DAP,"MR-F1,2VPY865N2F)L,E(Q-4=61B8C>$$[
M,U5R=C%X43@R.'IF;61Q5559;C%3+U`Q5E=(<7AX4C(V3S1'-5)+<79X14$P
M,WA62E`X06Y%2WIM8GHU<3DT0BLU:3!T-%=A:"LQ3"8C>$$[8U%S;W(P-E)(
M07E,-GIX43=&54)Q1V@R1C=)2C)$43-I:FI(95%(,#5G0G5&3$1:,7)V=V-&
M9F)&579A,CAY5V9A2%9)0BLP<"MR6"8C>$$[24AH>%!+1U)V9FQ'4&)&5G`Q
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M<6MU<#-S.3-F+V]7>&TY1V-R-G0S9$QY3'=20VQ/4#=):V-S=G`X<7%12'%$
M>#1S<6ME<RM5-'1.='IQ3FQQ9#E&<6AC0DI6;&A16"8C>$$[1GDU<$-S>3A9
M,$EE57%/0V=*56IK<%5(0VA3,'93-"]-9'1C6&UR,VQZ8C9N<'-R5S!N<&5N
M1DAA>5)Q<VY+3&US<$HT3W!B,4AK028C>$$[871$5&9&54QP,%5S.3%A-D9F
M6#$O3'!D-$QH24QP-5)..5EL=#5N3%%Y4W9'>#923S9-<%4X5C8P6EDT,5<Y
M5W0W,WDQ.6)B4TPR."8C>$$[;'1926@Y871:6E9C47A02D=&83!J5TTP;4Y8
M15A+<74S3&Y8:E)L57EU+TE43$%B<E)D6'4W9E5G4%=367EO<U9X34XP331J
M:DAW5B8C>$$[,S1Q3TAI:D0T4W!4:GEP<FQZ<3)N>D<Y="]Q=6\R53<R;#E$
M<U8Y5D96=WDP6GA2,&17-#AJ>$HT,4Y+:TMN5TMU>%8R2W5X5C)+=28C>$$[
M>%8R2W5X5C)+=7A6,DMU>%8R2W5X5C)+=7A6,DMU>%8R2W5X5C)+=7A6,DMU
M>%8R2W-*,6Y6-'9++VY586AQ06M44CEC:&IT;G9!<"8C>$$[:T-88TI0;U)"
M57$T1$E:1#!.4U(R5FIH5D9E8F11=#<O4C1,:E-B<3)V4'%6-6)88VER8WAO
M:DQ"24A(3U5#4E58;6\U1VY3;T97;R8C>$$[0W%P*U8W-U%,-C,Q5E5V<F-0
M<3DS33=7>5-O2E)73DQ9='A,368S=F\K;W9S=S8Y4V]34'DU<C%L*VLY3S!J
M54QY1S%F44IB;#5N;"8C>$$[0V]R>7E"-#196354258R:75$5E=!97%(86]C
M2W%I4$Y7<7=A6'%D.61V4$0Y5S%U0S)G<V)I<E-(-C%#-V5G;VIJ16AE3D=,
M=DMW-R8C>$$[14M0:2LP<7DQ3F,X=5=/;&5U;"]#9%!S;S%6<&MC4W%I2W1&
M-49/6%AJ465*,D<U=TI5+TMT<F12=S,Y-V-X0T(Y5'9(=6QH-&Q'0R8C>$$[
M96Y(0VI/<D5L5VM714]63S8X=4HS1TMP,VER<U9D:7)S5F1I<G-69&ER<U9D
M:7)S5F1I<G-69&ER<U9D:7)S5F1I<G-69&ER<U9D:28C>$$[<G-69&ER<U9D
M:7%N8U%1,T5-:T4X87EW4W%5;&EC0FMD1T9'5FQ/>$)",T=+<U0Q;4QY1#52
M93,Q3V)2<F$S95=8:D9C,CET1'IJ:R8C>$$[-&LQ1DM/=%)89%(X*V]Q<6TP
M,VQN>6IQ<W%A;$QP;&IF4U1H6E9U>D1&3#9O2VII-65H-6II0GA*<C=9<6EB
M,WDY;TXY8E$R,3=P="8C>$$[<F,R.7-V0S)I;&AJ9%EL;T)3345F0G-O*WHT
M67%L3G1*-5`P,U8R.')1-EA(6E-A:$54-F%7<4Q"8V]%2EI72VEJ+T)Y0C4K
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M5V1M<S`P8513;%HT-5I%26ED=VY.561+33-%,49446UI<5@S+VMR53=J4G1.
M<W1+.')V<&US,G)J,28C>$$[9%9.,T=O:EIN0CE4,45D<$IF-79S,6HV2EA&
M5V5E5#E+=CA!5"\P,SEC:3E,-C5Q,3%D,B]W05-T>6AL-#A'*T5M;&%D1'9G
M4WE%628C>$$[<3=&6%EQ-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ
M-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<28C>$$[
M-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ-T9867%X>CE/96-F.$%Q
M5U`K;C9$*VU+=2]4;FY(+W%74"MN-D0K;4MU+U1N;B8C>$$[2"]Q5U`K;C9$
M*VU+=2]4;FY(+W%74#A!<"MG+W!I<G8P-35X+W=#<%DO-F9O4#99<3<Y3V5C
M9BMP62\V9F]0-EEQ-SE/96-F*W!9+R8C>$$[-F9O4#99<3<Y3V5C9BMP62]W
M0VXV1"MM2W4O5&YN2"]!2VQJ+W`K9R]P:7)V,#4U>"\V;&HO<"MG+W!I<G8P
M-35X+S9L:B]P*V<O<"8C>$$[:7)V,#4U>"\V;&HO04MF;U`V67$W.4]E8V8X
M07%74"MN-D0K;4MU+U1N;D@O<5=0*VXV1"MM2W4O5&YN2"]Q5U`K;C9$*VU+
M=2]4;B8C>$$[;D@O<5=0.$%P*V<O<&ER=C`U-7@O=T-P62\V9F]0-EEQ-SE/
M96-F*W!9+S9F;U`V67$W.4]E8V8K<%DO-F9O4#99<3<Y3V5C9BMP628C>$$[
M+W=#;C9$*VU+=2]4;FY(+T%+;&HO<"MG+W!I<G8P-35X+S9L:B]P*V<O<&ER
M=C`U-7@O-FQJ+W`K9R]P:7)V,#4U>"\V;&HO04MF;R8C>$$[4#99<3<Y3V5C
M9CA!<5=0*VXV1"MM2W4O5&YN2"]Q5U`K;C9$*VU+=2]4;FY(+W%74"MN-D0K
M;4MU+U1N;D@O<5=0.$%P*V<O<&ER=B8C>$$[,#4U>"]W0W!9+S9F;U`V67$W
M.4]E8V8K<%DO-F9O4#99<3<Y3V5C9BMP62\V9F]0-EEQ-SE/96-F*W!9+W=#
M;C9$*VU+=CA!+SEK/2(O/@H@("`@/"]R9&8Z06QT/@H@("`\+WAM<#I4:'5M
M8FYA:6QS/@H@("`\>&UP34TZ1&5R:79E9$9R;VT*("`@('-T4F5F.FEN<W1A
M;F-E240](GAM<"YI:60Z.#5&-4$T0S@R144Y130Q,3@S,T)!0C@Y-T$S-S$T
M.#,B"B`@("!S=%)E9CID;V-U;65N=$E$/2)X;7`N9&ED.C@U1C5!-$,X,D5%
M.44T,3$X,S-"04(X.3=!,S<Q-#@S(@H@("`@<W12968Z;W)I9VEN86Q$;V-U
M;65N=$E$/2)U=6ED.C$S8S<U.3<Y+31C,F,M-#<X-RUB-35B+3@Y8V(U.#=A
M,C1D,R(*("`@('-T4F5F.G)E;F1I=&EO;D-L87-S/2)D969A=6QT(B\^"B`@
M(#QX;7!-33I(:7-T;W)Y/@H@("`@/')D9CI397$^"B`@("`@/')D9CIL:0H@
M("`@("!S=$5V=#IA8W1I;VX](G-A=F5D(@H@("`@("!S=$5V=#II;G-T86YC
M94E$/2)X;7`N:6ED.C@U1C5!-$,X,D5%.44T,3$X,S-"04(X.3=!,S<Q-#@S
M(@H@("`@("!S=$5V=#IW:&5N/2(R,#$U+3`T+3(R5#$V.C$T.C0S+3`W.C`P
M(@H@("`@("!S=$5V=#IS;V9T=V%R94%G96YT/2)!9&]B92!);&QU<W1R871O
M<B!#4S8@*%=I;F1O=W,I(@H@("`@("!S=$5V=#IC:&%N9V5D/2(O(B\^"B`@
M("`@/')D9CIL:0H@("`@("!S=$5V=#IA8W1I;VX](G-A=F5D(@H@("`@("!S
M=$5V=#II;G-T86YC94E$/2)X;7`N:6ED.C@V1C5!-$,X,D5%.44T,3$X,S-"
M04(X.3=!,S<Q-#@S(@H@("`@("!S=$5V=#IW:&5N/2(R,#$U+3`T+3(R5#$V
M.C$U+3`W.C`P(@H@("`@("!S=$5V=#IS;V9T=V%R94%G96YT/2)!9&]B92!)
M;&QU<W1R871O<B!#4S8@*%=I;F1O=W,I(@H@("`@("!S=$5V=#IC:&%N9V5D
M/2(O(B\^"B`@("`@/')D9CIL:0H@("`@("!S=$5V=#IA8W1I;VX](F-O;G9E
M<G1E9"(*("`@("`@<W1%=G0Z<&%R86UE=&5R<STB9G)O;2!A<'!L:6-A=&EO
M;B]P;W-T<V-R:7!T('1O(&%P<&QI8V%T:6]N+W9N9"YA9&]B92YI;&QU<W1R
M871O<B(O/@H@("`@/"]R9&8Z4V5Q/@H@("`\+WAM<$U-.DAI<W1O<GD^"B`@
M(#QD8SIT:71L93X*("`@(#QR9&8Z06QT/@H@("`@(#QR9&8Z;&D@>&UL.FQA
M;F<](G@M9&5F875L="(^3F\@4VQI9&4@5&ET;&4\+W)D9CIL:3X*("`@(#PO
M<F1F.D%L=#X*("`@/"]D8SIT:71L93X*("`@/&1C.F1E<V-R:7!T:6]N/@H@
M("`@/')D9CI!;'0^"B`@("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A=6QT
M(CY!;&-A;B!T96UP;&%T92!K:70\+W)D9CIL:3X*("`@(#PO<F1F.D%L=#X*
M("`@/"]D8SID97-C<FEP=&EO;CX*("`@/&1C.F-R96%T;W(^"B`@("`\<F1F
M.E-E<3X*("`@("`\<F1F.FQI/E1E96YA($9A>FEO/"]R9&8Z;&D^"B`@("`\
M+W)D9CI397$^"B`@(#PO9&,Z8W)E871O<CX*("`@/'AM<%109SI-87A086=E
M4VEZ90H@("`@<W1$:6TZ=STB-C`N,#`P,#`P(@H@("`@<W1$:6TZ:#TB-#4N
M,#`P,#`P(@H@("`@<W1$:6TZ=6YI=#TB4&EC87,B+SX*("`@/'AM<%109SI&
M;VYT<SX*("`@(#QR9&8Z0F%G/@H@("`@(#QR9&8Z;&D*("`@("`@<W1&;G0Z
M9F]N=$YA;64](D%R:6%L350B"B`@("`@('-T1FYT.F9O;G1&86UI;'D](D%R
M:6%L(@H@("`@("!S=$9N=#IF;VYT1F%C93TB4F5G=6QA<B(*("`@("`@<W1&
M;G0Z9F]N=%1Y<&4](D]P96X@5'EP92(*("`@("`@<W1&;G0Z=F5R<VEO;E-T
M<FEN9STB5F5R<VEO;B`U+C$P(@H@("`@("!S=$9N=#IC;VUP;W-I=&4](D9A
M;'-E(@H@("`@("!S=$9N=#IF;VYT1FEL94YA;64](F%R:6%L+G1T9B(O/@H@
M("`@(#QR9&8Z;&D*("`@("`@<W1&;G0Z9F]N=$YA;64](D%R:6%L+4)O;&1-
M5"(*("`@("`@<W1&;G0Z9F]N=$9A;6EL>3TB07)I86PB"B`@("`@('-T1FYT
M.F9O;G1&86-E/2)";VQD(@H@("`@("!S=$9N=#IF;VYT5'EP93TB3W!E;B!4
M>7!E(@H@("`@("!S=$9N=#IV97)S:6]N4W1R:6YG/2)697)S:6]N(#4N,#@B
M"B`@("`@('-T1FYT.F-O;7!O<VET93TB1F%L<V4B"B`@("`@('-T1FYT.F9O
M;G1&:6QE3F%M93TB87)I86QB9"YT=&8B+SX*("`@(#PO<F1F.D)A9SX*("`@
M/"]X;7!44&<Z1F]N=',^"B`@(#QX;7!44&<Z4&QA=&5.86UE<SX*("`@(#QR
M9&8Z4V5Q/@H@("`@(#QR9&8Z;&D^0FQA8VL\+W)D9CIL:3X*("`@(#PO<F1F
M.E-E<3X*("`@/"]X;7!44&<Z4&QA=&5.86UE<SX*("`@/'AM<%109SI3=V%T
M8VA'<F]U<',^"B`@("`\<F1F.E-E<3X*("`@("`\<F1F.FQI"B`@("`@('AM
M<$<Z9W)O=7!.86UE/2)$969A=6QT(%-W871C:"!'<F]U<"(*("`@("`@>&UP
M1SIG<F]U<%1Y<&4](C`B+SX*("`@(#PO<F1F.E-E<3X*("`@/"]X;7!44&<Z
M4W=A=&-H1W)O=7!S/@H@("`\17AT96YS:7-&;VYT4V5N<V4Z<VQU9SX*("`@
M(#QR9&8Z0F%G/@H@("`@(#QR9&8Z;&D*("`@("`@17AT96YS:7-&;VYT4V5N
M<V4Z1F]N=$MI;F0](D]P96Y4>7!E("T@5%0B"B`@("`@($5X=&5N<VES1F]N
M=%-E;G-E.D9A;6EL>3TB07)I86PB"B`@("`@($5X=&5N<VES1F]N=%-E;G-E
M.D]U=&QI;F5&:6QE4VEZ93TB,"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z
M1F]U;F1R>3TB36]N;W1Y<&4@5'EP;V=R87!H>2(*("`@("`@17AT96YS:7-&
M;VYT4V5N<V4Z5F5R<VEO;CTB-2XQ,"(*("`@("`@17AT96YS:7-&;VYT4V5N
M<V4Z2V5R;FEN9T-H96-K<W5M/2(P(@H@("`@("!%>'1E;G-I<T9O;G1396YS
M93I&;VYT4V5N<V5?,2XR7T-H96-K<W5M/2(R-3DP.30U.#4P(@H@("`@("!%
M>'1E;G-I<T9O;G1396YS93I#:&5C:W-U;3TB,C4Y,#DT-3@U,"(*("`@("`@
M17AT96YS:7-&;VYT4V5N<V4Z4&]S=%-C<FEP=$YA;64](D%R:6%L350B+SX*
M("`@("`\<F1F.FQI"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.D9O;G1+:6YD
M/2)/<&5N5'EP92`M(%14(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I&86UI
M;'D](D%R:6%L(@H@("`@("!%>'1E;G-I<T9O;G1396YS93I/=71L:6YE1FEL
M95-I>F4](C`B"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.D9O=6YD<GD](DUO
M;F]T>7!E(%1Y<&]G<F%P:'DB"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.E9E
M<G-I;VX](C4N,#@B"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.DME<FYI;F=#
M:&5C:W-U;3TB,"(*("`@("`@17AT96YS:7-&;VYT4V5N<V4Z1F]N=%-E;G-E
M7S$N,E]#:&5C:W-U;3TB,34Y.#<P,30U,2(*("`@("`@17AT96YS:7-&;VYT
M4V5N<V4Z0VAE8VMS=6T](C$U.3@W,#$T-3$B"B`@("`@($5X=&5N<VES1F]N
M=%-E;G-E.E!O<W138W)I<'1.86UE/2)!<FEA;"U";VQD350B+SX*("`@(#PO
M<F1F.D)A9SX*("`@/"]%>'1E;G-I<T9O;G1396YS93IS;'5G/@H@(#PO<F1F
M.D1E<V-R:7!T:6]N/@H@/"]R9&8Z4D1&/@H\+W@Z>&UP;65T83X*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"CP_>'!A
M8VME="!E;F0](G<B/S[_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_VP!#`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0'_P``1"`#Q`2`#`1$``A$!`Q$!_\0`'P`!``$$
M`P$!`0````````````@%!@<)`P0*`@$+_\0`1A```00#``$!!`D"`P0'!P4`
M!0(#!`8``0<($0D2$Q06&2%56)68T]45,2(C01<S47$*&"="0V&Q)"8R-5)3
M8E=W@9*A_\0`&0$!``,!`0````````````````$"`P0%_\0`-A$``@$"!`,&
M!@("`@(#``````$1`B$Q05%A$G&1`V*!H='P(C)RL<'A0L)2\02"$Y*RTN+_
MV@`,`P$``A$#$0`_`/?Q@#`&`,`TB>T7\@Y%"\O/%7C]`\SYW&NS7TGS$R+Y
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M-S/)#F7)G(`*#5J5SG5A>*W^GE:<Z_"?I74QT\G0G*JS"=>_?OH3P6F_\GLN
M%Q#W?Y1AD3[7[RM3R770#W*O'#^J7[QCIGD1R\?%M\^J1`3!+RMKOC;90%J(
M]1Z!2*G;CLD18&KU2:ZS>^8(,6!EKFB[.[,(0K0X#H2<7LVM<IG;?:YC@U[8
M_P`@X$@%W4:]RJP<\A^"O>.A$.**!':2[9NZ\Q\JH/##9X>5/%2!5H3SL:RQ
M:KM`#V6X50+1P_3Y8^V'F&@]YB">!87GB5UIPSA&<X\K*Z=F>3_M)?*BY<3D
MWROVV!R2Q5WQ7]K)I\GQ>Y5@S3[I</'MWP[5R_J8Z-7KKT]NI':OKHUM#_1,
MI=K`4KIU=A^+-F#YPYY0*E2MZNSQ3P?%*NE,PG)*VX>U.M7CW</)`/:W*:H(
M#M/M1BE*+=4N4]EN7=?$*D^--AY'RBKO2)PF,W"OTGJMG9^AP_YLX[L0C5:<
M^,Y,TH1PRDUW)CO<4M]#[;]I[YC7#H`RK\^YYXU00MG[?OQ]`S;A_M/DE(%J
M1[/:J^=4ZVEF`QV-$F5\=&DV&E1P,1V$1,NS0LI9H'H1.>-API*[=DVXC_/@
M_9F;R8\[K^;]E]XX]FYP,M=0\AO/>F^/=7YD!Y*#*=#O%(L7=Z>,O?3K)S^O
MP8$L[92''N3Q>DW<"MH4^^^1JX=,IEE4OWDB%2N-K*EO'.'"GFX7B1BYA[7^
M\<W\=>/C.S-@877*1P_SUJ?;2?=8Q;F=O)^1_A+5N4&.6!2M?*RP;PVP^1=*
MZ")Z05JKD1NP.;-HA5N.TN))TH2Z;N,)41>%5/C;"?5'1K_M2O)L-T7L8ZVV
M_P`:QL:[=\\,N9<R>Z4Z4J_-O&>J=Z\)POD@7NO2I(\V-L%@J9ZPIE4.J/&#
M@99GJ]AV';N8\##$5Z,'"K8_+4W&<5.FV.5WLI,M>57F]UKHWLCN8>5E4+)X
M1>.A=SX+3C9JH].U0JR]5Y7EF&X_;+'6.OGZ\2U4^5]2JD"=:ZST$M72J0G/
M;6,L4N&63%7N4"I2K=.*2;NNZVI6JS6I'+QQ]I9VRD5.R<VF=<Y'9IY[S<M_
M(JQY&^1G<`O:?&'CG/Q_BG7>]C*G)\IN7C>8#NWV6Q'H%@#"6"4*A%Z:>L$^
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MA?E8,AV/Z;WNC?\`OW/=DRJ,V6?OE>%$HXXQ=!M6=DP&J-/%52G>7$3JYXHR
M6D/Q@^27MA/)"X=1,\NI/%^5T";+Y1671@ZU]#II^]AK[T#P<D>5HWH8%$;H
M<"+U;FU+M4F'0)`>@TBQL7$,#M-[%WZ,@4]4=API*9GP>"JB-IQ4QIN9\(^?
M'=^8^RL\+O*!DEQ[L?7^Q`>%A[Q9Y)FIC`DR5<:47-68M7ZH;ZGR$-?>HC98
M+0FQ<U`](ILERQIN,ZOP$LUQJGOLO?V_9'#-35U$VOEX66\/?4Q7!]LW9;'U
MCPLJ]+%\;LM5\@6_$01TX:VU=J]<@!SRF,6T"P=J;M_+4:4Z`#2:V@B"#UZB
M=;E&1Z"2K/8J+%T&*&1/_C<5;<36#32C3U6TF#_#_P!K?Y$2'?"GBMJJU4OS
MERYCXG.]*OO3+Y7:OTWIA#R.,7P64OU%DV&Z5EDB.YBU54RBH0'1^A&;O*'6
M@)!?JI0:);.!52KN=;0X4)/)/&^D<C85[,'VB5[\VBO7ZMU.O<YJMTY[7N;7
M6,$YG,;M(&/7.AS+R.8W'Z15^@=4YUT`0F=3'VJ_:Q-DI]B.M((R#G):2F-&
M3,$5TJF(EIRKJ,(R<//0UO\`A_[6KR5@>-M,*7"5QWR2W0/%*H>4O8+A6#UG
M-=,HO-*GY#U_EW=@O8DQB#P^/U=/+2]IZ_0]MC@4+X?-;96)M?/QHT>TOBU5
M"XG_`!^)I)[IM-;3]_`G[W+S)[W9/92W#S"IK+?)"]].@S=+M=7!R+";YEXE
MWGR)!5`?WF4(/1C$:?;1'B^5>[9/=<$K``9C^ICHE\6#D-R15)<48[835&&M
MZK(U?^2WECT7EVNT\Y\5_.>]>0?CH$M7LZ9,WR$/^0=*><YGT3MOD;8:1UGC
MV_+,+4S(2O5FW\?&UF\6$F;%W+7((Y9XZR-;$SFP3@O2DX=5*3BNR6,*SB=9
M6-_"3\[SYR]L\:&/!WM%.\@#'2N6<]->574?*>H4;RNK'F:*Z!SBG7GPPYR0
M`$NJ5KG/.X,V;SFG]R.=-&53Z,P9U>D?$?5-G()1EX"I3XDU#^%4S3PN8J>$
MN):B=#;+[%^_^1/0/%B]/^4W0#_1>R5GR'Z'5K*4L*F_F`C\>O40S,IP]MMI
MG4<)53)PL)$,+1\5N&RCXN_B;5K0I7$V4*%_OQ-N>"@P!@#`&`,`8!:Q6C4H
MZ3CFSE/JQDS$2PB(7*U\21)Q417ER(J8\^7$>E,IC/N+>82VZG3+RUN-Z2M6
MU;`J$.N5X=)-3!X(-!F61]$FQ2H8N#&DGI+<?41N0:?880Z4?1%UJ,AV<I]Q
M,?6F4JTWK2<`Y=`PFH(X7H.+T-#K'."1VA\3Y$6X(4VH2X.B?!^7A+&*994.
M5&;:5"4TWN-MK:$^@'7.5FMV=F''LM?!V&./G,%(#!P3`+,P2<7WOE2,-J?'
MD(C3HWOJ^!+92B0S[ROAN)]=^H'U(KE>EFX%FE`0LFR"HLF"+L$@7!>-C84S
MU^<AP"KC"I\.+*]=_,QX\AME_P!=_%0K`.FY2Z<]"<'/5.LNCW1+X!V`X"%N
M0G04E[YF2%<BJB[86)D2/\]\:I&X;KW^:XRI?^+`/E%'I3;8=INGU=#5>&S@
MH!M%?$I;!AR<=$0D)#H3$TD8-(16FXTZ!"TQ%EQVT,R&G&T)3H#X9H=&C"X0
M./3*HP%&CR`@<(9KHAH7`%%G&72HR$/1#3$BCR;L>.X0A,--QIKC#*Y+;BFD
M;2!R3Z33"ND:)U&L$=-E)1M&IX`5,T@S-BK@S"Z-2(CGNE)<)QR'*GZ]);\5
MQ<=UU;*E(V!VFZM665MNLUT$TZU,V0:<;$#VUMS]B=`=SFUICZ4B9L&E(7<E
M.]/;$IT.]_Y/6F<`YF@`%A(5#`00RBN(VU7DM#8;:0+>X2AVVPJ4,ZT+1L>M
M<#:(.F$[A+5%WKX"MHV!3B%(I99Y4@K4*N3?62294^0`"9KRBZ1^Q*2JG),1
MQ>R216]C$SMJW*T/WN'IWY;?P\`XIE!HA!LJS/I52G,G1HX.;:F5P/);,B`^
M][$"BJ'H:TD!HO:E;'09>GHT':M[C--;WO`*F1K=>+B$@"P$*4!)1&:2%(BX
M,T0EN%M&X;:1LEAV'I$3;3>XR-,^ZQMM&VM(]Q/H!3GJ)1Y%>W47Z;5'ZHIQ
M#JJP]71#E>4ZW(3+0YL*N&H;MQ$I")*%[C>\F0E+VMZ<3I6@.U/J-4*3X14G
M6*\1*#8[<0<2GA1LN?`BM3HA-J-"F2(SDB+':)#X!!MEAQMM$Z%$EI3I^,RX
M@#%W!O';F7C@`MH+FT2Q*=Z!?S_4K]9;E;[+?;G=K[9(PP>1L=FMEM)EC1.6
M@,#!`![3DI,08#""AD&.Q&B(3L2VWCDH65O`R0FBTE$VP$D4ZJH(VV/N':IZ
M:\(3-LT3;>V=Q;!*U$T^9C[:WMK;!%R2U\/>T>[[N_3!!R%*533D6?"-U*LF
M(161`EE(A0"*(124H4VRR+DSX\N(\U,D#68T=J`](0XY#;891'4VEI&D@=M=
M9K;AQFSN5\(NRQQJPS%A6*@*.,!W'=ON"F2RH^Y[0UQ[>WEP42$Q5.[VXIK:
M]^N`=!RB4AVL?0EVFU5RF:1\/Z(N5X0NL?#^:W.^'_0%0]BO<^>WN9[ORGN_
M-;W(]/C;]_`/MVD4Q^?!*OU&L/%!<&`,&$G0`IR>.&BYS),8/@S%Q-R(D$<2
MCQR$")'<;CPYS#,N.VV^TAQ('TU2Z<Q-!DF:G6F2-8BR8-:GM`A;<VO0IJ-M
MS(8.4B+I\3%EM[VW)CP'([+Z-[2ZA2?LP#L!*O6:THFNN5T$`6:(.EC*P@@>
M*46*O_[\F35!CL;GD'O_`!9DK;LES_ON;P#$?6?&ODG8^87SD%A!SZU3.G"X
M=?OJ.7G2W*SUGK<5E,%VM$K1090"PK!$@NY-;)CT$4-2ZY.GA]^Y$DK1@E-I
MIZ83?R?7F9>`UL#5ZX&J%>$P1%8KH0=6P8*%'0T,&`1$%D8,$Q(NM;;;@PA\
M=B&Q']-H1':0WZ>[K!!28_.^?Q*^NIQ:+3HU6<E*G.5J/6`C-?7.6ZEY<Q89
MN"D<J4IY*752%1MO*=2ES:]JUK>`(_.^?Q(6QL6BTZ,.4V0:5`CU@(S"4T63
M"05;W%;@I8VV30-'(((VCW9J1\),G3FHK&FP+EACX`_YG4"##@ZFRWI\SY.,
MS&^;GR?=^8FR?@H1\>6_[B/C27??>=]Q/OK5[NO0#N8`P!@$!/J^JK^*;S[_
M`%E]E_F\B%OU?J6XN[3T'U?55_%-Y]_K+[+_`#>(6_5^HXN[3T'U?55_%-Y]
M_K+[+_-XA;]7ZCB[M/0?5]57\4WGW^LOLO\`-XA;]7ZCB[M/0?5]57\4WGW^
MLOLO\WB%OU?J.+NT]!]7U5?Q3>??ZR^R_P`WB%OU?J.+NT]!]7U5?Q3>??ZR
M^R_S>(6_5^HXN[3T'U?55_%-Y]_K+[+_`#>(6_5^HXN[3T'U?55_%-Y]_K+[
M+_-XA;]7ZCB[M/0?5]57\4WGW^LOLO\`-XA;]7ZCB[M/0?5]57\4WGW^LOLO
M\WB%OU?J.+NT]!]7U5?Q3>??ZR^R_P`WB%OU?J.+NT]!]7U5?Q3>??ZR^R_S
M>(6_5^HXN[3T'U?55_%-Y]_K+[+_`#>(6_5^HXN[3T'U?55_%-Y]_K+[+_-X
MA;]7ZCB[M/0?5]57\4WGW^LOLO\`-XA;]7ZCB[M/0?5]57\4WGW^LOLO\WB%
MOU?J.+NT]!]7U5?Q3>??ZR^R_P`WB%OU?J.+NT]!]7U5?Q3>??ZR^R_S>(6_
M5^HXN[3T'U?55_%-Y]_K+[+_`#>(6_5^HXN[3T'U?55_%-Y]_K+[+_-XA;]7
MZCB[M/0?5]57\4WGW^LOLO\`-XA;]7ZCB[M/0?5]57\4WGW^LOLO\WB%OU?J
M.+NT]!]7U5?Q3>??ZR^R_P`WB%OU?J.+NT]!]7U5?Q3>??ZR^R_S>(6_5^HX
MN[3T'U?55_%-Y]_K+[+_`#>(6_5^HXN[3T'U?55_%-Y]_K+[+_-XA;]7ZCB[
MM/0?5]57\4WGW^LOLO\`-XA;]7ZCB[M/0?5]57\4WGW^LOLO\WB%OU?J.+NT
M]!]7U5?Q3>??ZR^R_P`WB%OU?J.+NT]!]7U5?Q3>??ZR^R_S>(6_5^HXN[3T
M'U?55_%-Y]_K+[+_`#>(6_5^HXN[3T'U?55_%-Y]_K+[+_-XA;]7ZCB[M/0?
M5]57\4WGW^LOLO\`-XA;]7ZCB[M/0?5]57\4WGW^LOLO\WB%OU?J.+NT]!]7
MU5?Q3>??ZR^R_P`WB%OU?J.+NT]"?>25&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`BMUOS<\5>(%)M=Z!V>KMW`;Z?U"@4]DSTSI`_6
M]>J72/.N:C+;=AT9?]DS)X&-#^Q6]OZTA>TRDVX2E[#"[:2U;275PB'=C]KK
MS5A;C-&\?N^V]*M[^3-&&>84*NRF];]$N.-'^C.WZ!I?V*TU.Y\Q(2GU^(RA
M>M(W==E6\HYV_91]IV:_FGR3?XCS,&VSVS=RJY"HPU>)X)]NZ65^L"E2?(B5
M$DQYD>IVBX+>(QXO!R<=EC8VID&-?*3YJ_G'HB/=^`MY]D^RJIB8NXQ>C>FP
MI[2BJ8XK*?E6J5OBU9=8?VRD=EQ'TR\5KXAGUUIQ7-.E4&YR$_;]NVF;Y_L=
M9<UK7V_XY;.]_P##_C7@JY^]X)XZ=6N:]&R1U&]J_P"'EI<9B6ZR77B9%W>O
MB-=AHAD)7H+>_37QBO3*QJW\A$LIWO6E.$N@Q=:]?7[4Z4K4.EK(LH>#3\8?
M1P_(V!U.X5*^@!UKHMIKETJQ=GY@39:F;&6,`4C[WZ?''&0\J8.FL^NMZ^+&
MDNH]?L][(!<>`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P"%?E%YS\C\97=5-]$[I799P]HB'Y!2WX:C<>#+VXW`/WLU+7H+SBHR'6GE
M,F+$]HJ<8A%&Z/7;D6'2!&6II=3A*2&U2IJ<+S>R6?XSA&D#LOD_Y(^1+LIK
MH_0YE*I,K:M-<>XR4,T^I-Q5[WZ0[;=(CL#H?2GMLK<@%FR1.MT"PQO=<>Y8
M-=VM.^BGL4KU7>F7JSGJ[=_P7#N[U>B\+K4P*&!!*X/9$UX.+`BHWO;CC`P^
M(+'L;6K:E[9APF6([6UJWM2]H;3[RM[VKUWOUS5)*R22VL8MMN6VWJW+*KDD
M&#^Q:]3_``C?I_\`#UPGO_E_V'=G3ZZ__MZ?\M[S/M,*?J_K4:]E_/Z/[T%P
M9F7&`<E-(67F%D?NO(;E:^0726^B5/LG.2F@3AR2WK6F5W&ONL3:;T-AC2=?
M!'=#K5J%-*]'$0=.I0M-72G^BRKJ6<K1W7Z\(-N7CM[6@F%>@5/R^!CV1BMM
MQ8_D!SH//;!1=?8VV_U;G#;I8I5FO]WN?>*7+L%6^.[,*G*MS.LP'):*.AK"
MZ\S554U;/1X>#_#ZMF[T&="6<,*L=:,"[#7CH^&7!G@9"(6#&11!A$J`3%%(
M#TB$0'S8SK<B)-B/O1I+#B'F7%MK2K="2JX`P!@#`+.N_0J-S4.H_?K:`J`C
M2G$-S#Q.*/3+?:8=DJB#VGW$ODI^V&776A\!J3->2VKX+#F]>F`1FA^T'\-)
MY)H/&[U55$WEQVT0W(%FCN^LMU;$;;GS`)I#3;SK;B&WG5(:5MM>_?\`=0K>
MIA[=5ZD3SZ/T)9@K`!M`R,;K1L380TSW]Q"P,C#*C97PG%,N_+SH+S\9[X;J
M%M.?#=5[CB%(5Z*3O6H)*O@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P#4MYR^
M?!*BES/C]XZ$H2^JQ6FHW2^HJC0C`7B4<A$;EL!A$"8W)%V3LI$;)CD18(E'
MF5VBC)D"UWF"53,KM+N%Z*'6]$L7^.92NM4*6I;P6N[VY8X6Q6EX<+CC=D']
M/3R!,T2E&["?-$9INR6<_.]S9"P6>P%'Y9<^<G[;;^;*E9<J8ZAIEG;NF&&6
MF^RFE4J$H_/,Y*JJJW-3E^2V2R*EDE1@#`,(=A_^?\*^SU]>MD_M]?3W?^Q#
MLV_7_P`_[>[Z?_EZ_P"F9]IA3]7]:C7LOY_1_>@K^9EQ@#`&`2'\6/*_H_AS
M8=N5>,0NW#C!-V??.(-R6=;A.SY"I!:Z\;7/D1X%7NJGG7RA:J.28-*Z',7,
MV4^CMK*N7EBE5,W6/W-*:\%5AE5FMGJO-96L>H3F'3Z'V:@UCI_,[)!ME'N`
MY),$;@?&;2\WIUV++AS8<IJ.0$F1)"/+$G@16+",@#4&>&,P8)2#+B,Y&A?N
M`,`QCV7J(;B_,;ATT\RY*@U87\RU`9VXATH5F26!@,.VZU'E+847-38`W4KY
M9]$3YKYEQI;32]8!@GDOC<R4GQNS^14.'T'MQ]AJ>J$<89(5+E<5]V+/@U"C
M5MYX@('+KRHT5M9KXA0I_5DEIT$TXX:,3S`$<>8^0$"V>U.\L_%XS''E!/\`
MU;>5VJ!#GMHF19T"G$F1=E'KAR5.PWXC1/KVF93'RVE+>^.B5MUIN/IN<EXV
MZ7\</`1B_?O'P,C]7YJOQ%V4\BN`"94*C"'(Y'N'#PZ]ZJQ.D,_!C&+C1`:U
M)A5LU3QC:2KX46X,")%0)Y0/%CSMV,#T.,8Z`GJ!."K.##60%-9)!+`*'FPY
M&/[VV)XLK$9G#YC.UI2K;4J(^T^W[R4J]Q>O5.M_9@%6P!@#`&`,`8`P!@#`
M&`,`LKHW1Z+R*C6;I?3+2'I5#IPQTQ9;.>E)B#!4!I:&DK=<WI3CTB3)=8A#
MX$5M^>3(R8HX=&E3I4>.Z"3;A7;,!\Z\V_'3I92Q@H%FN-(L-6HY/IY&M]NX
M[V3Q\L<OF0532#'1J\![E0N?%;52`RY$1HY9*U$*C0,B>/B''QTN?#8>$NEK
M[6:=]+3^S+]%[3S+I=@L%7HUI9/FJO5N=74W&8&F8S,6K]9&ER_/BS4^>.B#
MI[5B&@2LIID?*E2X"(VDE6(#DB*AX(:]Z&4L$#`-=_M!O+4EP"E"><\QGQVN
M]=<BE(]5FK8C3V^:4T?MB-:NM%(,IM^%(?"JGQ`U$#D6),>PWHD-5+&D:I7[
MHX.M12ZZH7B]%[P*U5*BEU/P6K>"_+V6L&@40)B!8*(,14IW6WYDV7-(3)1,
MJ6*DYCY(P<-EI[L@@9/'"LN87.FB4B23,%ILPD1DR)DI]Y?:DJ4DL$<3;J;;
MNW[Z+!+)6*EDD#`&`,`P?V+7J?X1O[?\/7">]>G_`.QW9T_;_P"7IO?_``^W
MT_Y9GVF%/U?UJ->R_G]']Z"X,S+C`&`,`8!*GPM\KI7B%U%Q5C(N(\=.GF(K
M?68#[BOD>;V>2B.,&]Q&(5O;4$;';:@B.OL?Y,>346(5Z5(:FT.4/M&==.:\
M36BJ?A?_`%]/'+1\[>IU*DK2E:%)4A2=*2I.]*2I*M>J5)5KUUM.];UO6];]
M-Z^W69ESZP"$/G&_M@'XVZD*WH+*\Q/'^!9&G/7^GR0L\Z1ANL%D;W\%8_<Q
MZ&ZK4G6V$R6HJU>BTMJU*SO%G_H&2?)ORGY=XM4,G<K^>`Q)<>`[,'!S%F#U
M6&IE+B8VS-DLAMYH73Z="E.,L%;24^(WJ4]$`U\?9+H9K=4.0#R7U#S+:XGY
MA`?::63D7?6J?T:5V3D!7H]FY[>*)X\6NF6>T4&_$#=<N5EI,0J/!22!AH9Q
MPQ<V0\`HSS`E"+H<F6.1-HUK/!WWMI^XE*=;%DG#4+)PG-4I56QZQ.7CZYN>
M=QXQY(<3F]&I=D@6/G9VK$OI`C3T7<\-"E!%R"PBP0FGY"($]D7)^-M&W7H<
MV"_%*BY9`/.@$)5;SOYE<BQ?`Y$MKQ)XO'DN2G8T0&9@@')F_5]=-@VVP0Z,
MKWO=3I;&Z:P"^56C7PUQ?@J:]6]IWN7B^;(6"Y(ESD$C`&`,`8`P!@#`&`,`
M8!"?SWYM?.B<4JT[G=6E=".<B\@?'3O\SET&4,AD>GUSB/8:ET*R4P,\;F0`
MCEG?$!)1JF0S4V&*)7(+7QTV>-9EJ(Q!:G'&)34Z2O:>TD(?*,58?/\`LM,_
MV;\%[:'IW%^,>6\VY6+M_'KQPV1;K3U[Q^LW)*7PFF5SJ0BJ6VY/E;2?@WRR
M6(.(?YP.>YS64-6PF4)#F&!*MB\6L(>#3FWEGB1)B^(QL]Q3R/ZA2."]JJ_2
MZ7X5>%D/Q>AR*OU7G5RJW:>8!>G2+@JC4R;H$38O@FWZ&L&9.Q3T^6'FQ(27
M7ZS8'&28EU8*V-4\FUGI'AT,I-\B\G7/.`P=LK_1(5_<\YQEOJUTK'BUVJT:
M<\0XQ83+B557EI*\E:SXRU7CLODK!"BWGD4WF<CH,>\2#-G"<RN-YD!+K-$6
MX=H_R7S:\,-_C>+$_/9\\O!^,GAN#O74!=@H%Z)4\ET'R$L732UGDV1E^LN6
M&:Z1M;EJG398J#5JHA,,?"9:B1!5;@0(,:.B'"BMMB*KN%A@M/<FCVY]+L?=
M^D7CO=PC38!KILZ,^#`$M;3,HO,0_P`TSS3GJV=J<^3E`@DQ\S:HC#SL%WI-
MGOAB#\.,70TWV=E1PTW^9X[:+WF<7:U\54)_#39:-YOQRV@H^:&0P!@#`&`8
M1[!O6CO#=[__`%:(ZU]GKZ[5Q3L2=?\`+^_KZ_;_`&S/M,%]7X9KV7\_H_O0
M5[,RXP!@#`&`<;K33[3K#[3;S#S:VGF74)<:=:<3M#C3K:];0XVXC>TK0K6T
MJ3O:5:WK>]8!OK]D]Y`R[UR8[X]VTD[.N?CLD&.K4V:^M^?8.'V)$]OFDV1(
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M)6G:=[UD$FI2V\=XA(Z$7Y1X+`1W-+S>M:'=^M/&G$@^0TKG)?4E1R=8:Q`:
MD\U=OYG4B7NI0@(6):3IS<IPD08"0;*7"6NE/*)N^>V'C:S15WMURLK1OI"P
MV-K%5K`.DUBN4VL#V1-;J8(36Z^*C[7M@:%!P&!@N`SMQ2W-M1(49AA&W%J7
MM+>MK4I6][W4L5[`&`,`8`P!@#`&`,`8`P!@#`&`,`U:^U?Z6X#X75.+C9&T
M$?("\PZ_86FM^LAOE-(8^F_0UO,J]&I(6R21U2Y588[OOZ=%=->2E&][]]%^
MSIXJTGAB_#(K75PT5/.(7-V\E+7(THYVG",`8`P!@#`,']D_^=<.WZ^GIUR7
M_P#SZ\<ZZGT__P!S/M,*?J_K4:=GC5]/]J2X,S-!@#`&`,`8!GCQ+ZFYQ'RP
MX5?U2-QP5DL[7"[TGW_1,FI]K)!ZV%][2O\`(9T)ZY%Y98)A![6MP0`D\VEQ
MEJ;(7E*U*Y&G9N[6JGQIE_:5XGIOOG=><<RO?/N>W<N\!,=/%]`*5&?+AN_T
M"6GF5?;MEOA2S"/>C#2$&K_.6!B/.^`F:,$EWXKKBATAM.6YH6+5/,?QIL_/
M`73I78:'1ZU8*X&MD=KI=KKW/SHP!8T0GJ_-L8&SE!Y*MN%XQ41)C03;$(@V
M@N,9F18TR6B-@>_]:^!\76T^(G9V(->N-YXG<WVRQ,4!W].ZQJQBK!$3`9+L
MU0Z*-1K$`/Q4$A3$Y^N$8!6.@D.9>=1J?&2\NMA;WI[_`"1@JM,]GI>4G?EK
MTWL97[#;`*(QSR2NT,:471@Z#UF.5^<GJ'Q[#7!H61((DB^B,N$Q$BE-E4L?
MTV8EB9>.V.V_J1"]KRPM]R1Q7LWCEXWT&J2:P*%"^8G8E]."I?):\+GUAF)0
M@1.V7LP^S7%M[FRH88&=)SE0(Q0R6EB)T-MF::<C1)4$F39?D-P*`4:!S^W<
MC@FWS4JMLAYG1Z?%*.V*#.AC)P)H>^8;EN&(1(A!'3!J&=S(T^7'AOLMR'D-
MJ`OBLWJD7519%.N-6MBP,MF`<16K`).J#3I$5N;'AE4BY<K8Z4_#>:ELQY>F
M778KK;[:%-+2O8%U8`P!@#`&`,`8`P!@#`&`,`8`P#SS^TSM:[-Y@`ZMMS;X
M_DG`P*H&T[_P0[#V.[V:=<H3B?\`[Z@7*.73?77V:9E-?;O>_1/1V"^9\E^?
M0P[=VI6K;:Y))?=D'\Z#F&`,`8`P!@&$^Q>G]6XJK?NZTGK#_P!N_P#BKDO5
M6T^G_P"6U+TG7_'UWK,^TP7U?AFO9?S^C^]!7,S+C`&`,`8`P"W+>+G&JK8Q
M0J4J`7GA24<.1;WI+PPRN([_`$@G'7O_`'4D:1U%G1GM;TIF1';=0I*D:WH[
MIK4E.&GC#3Z'J+)\DH?G+SCQU[-:YY2'7C',Z7TD`#"JU"<^+?G^8=*D)>+^
M_N;H2;!UM?/+.):2UH]0+C=`+\IG9A,F+SF^#\C$7/\`V8=$H#@E<7IMG-?T
MRY\]NNUFZ[6YC[DN@%N"DDAH;SC*OZ-7;"UXV\QC'!8MMA,UQ!Z5+=E^_4V*
M=,_:/?OJ/WE:\XKQZQDDCG,^S`YC8P%6I]@Z->BM.J?+WN'#@3L*KMIUR2(<
MI5CJHG<E`CWGKG52M%'.P;_/:GDMJ($"$>#!L4&K':W`_-_O]Y\CM3O9I4(S
M;^C76P]$L%B*=:&#1EZ''*E12U7EM5T/9!59V*JA,).K\74#=SMKA3^KCS\@
MU%,J&N2HD9G_`#$^_>A$8;:6]^W,HNZV^SUY;;*A5*I)-ST2@\&[0;3=9P&O
M6+H%YW<ZG8J5'GF;A8XA0S)+4(!:BL7G)<W)L)2NKCA'I4PL\.?<GDX_1/O`
MQ_']F#0!<28/!=.MT"&[4+AS^&[-#@#1IFG6BVR[C!&S;!/:45*R:P0)E88=
MZ2^D>D=+VM8G1N2=-G9;GWR]VCI8>_*-=E[PFMQ;D"N0#[?%>M<RX$+K=35Z
M-&B`<6+(33)MQ*5KFK')]9:1@F,&J8%I2VX0*EU>JUD5!AP@J-OP#-&`,`8`
MP!@#`&`,`8`P!@#`&`,`\P?F%.<G^;'E<EY6UJ#W?EX*.I6_7;<!/C5P^P-Q
MD_\`TMHGV,E)TG_[LMY7_?WG5V'ROZOPCF_Y'S4?1_:HP'FQ@,`8`P!@#`,(
M=F]?G^-*UKU]WK;?K_Y:5S7I3?K_`'U_]?IK_P`]Z^S,^TPI^K^M1IV>-7T_
MVI*_F9H,`8`P!@#`&`>FSV;I!R?X*^,33BMJT!Y>*IC'KOU]R'0I4ZDP6M?\
M$,P@##2$_P#<0A*?],P>+YLZ'^^M]%]B;F0!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@'F"\PH2X/FOY7J=1MM1:\\O-,:5KTV]"5XT<-!-RD_\6E3:^1B
MI5_;;L)Y/]T;SJ[#Y7]7X1S?\CYJ/H_M48$S8P&`,`8`P#'O0^E`.<C$2B3<
MXL8G)=2!J@*/\_8[%):<C,?!&P$J3O3*9<V!#?(25L#XTL@.ANR=32(^-*K5
M4J5+SP6OO7!%Z*'6X7BW@N?O\FQ?P^]FRNZU$IU?SRJXNRWV_#'&*+PYF80;
MK/CC4YNVWX4@>6@/CBTKR`F(0Q+.=3@OC#-(<UJM\\77&-'YE@Y*ZZJW+M&"
MT.CX:%P]G_VJ<-U;:*G;/.2/?DKX7=4\8_ZA:P;AWLG!8_Q)+MKC0$S>G<O'
MI]5+UTD$&B-(MU4'HUK:^DU,:S,%0=[?O55'C!!:_D)IKR?7U(A586?^.3^E
MY<F^3<PHJPYD,C$BD!\N-/@3H[,N%-AOM2HDR+(;2['DQ9+"ELR([[2T.LO-
M+6VZVI*T*4E6M[T*G9P!@#`&`,`]-?LW(+D+P5\8W7$;1HYS$;<&/7_Q8=YF
M3[E!DZ_M_AEPCK$E._\`5+VM^N_[[P=VWN=&VB2Z*";N0!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@'GB]I?57*SYB"[*I&V1_6>!UIP=K2?\`#,L/([K:
MQETD[5Z:]5L`NE\LB[3KWMI3I&U;UI2-9T=@_FIY/\/\&';JU+T;3\4FOL^A
M"3.@YA@#`&`665L<Z7-,U^GZ#O%J\*V<NUHL4M4#GO):U\NY*7:>D&VU)W&3
MN(T[)!5"`[]*+:MO?R;8NOL&[8!I56J;*[\ES\,%^+FE'9\5W*IP6M3TI6=\
M7@N<)[//`_P5@@"<#R*Z\++D;5)5$*\\#WL<F';4K9;?_IG2;Z`6A+-2,(8F
MR]\KY!'9:A\<"D9ARRMSNU6FU3J[R55<3QG\^\L(TQ-VTEP4Q&<8<EKO5B\%
M\*4[@,J4&`:H/*'V;HRQ2S/3?&!0.@WN=(E%[-RDBI8SDW1R$EQ<F>0&_)1I
M2^6WHC(6N6^?`CI55LA!Z:_;ZI(.%W+L)M34URT]"R:=JO\`V6*Y_P"2\963
MBQI_?V3%GS=-M=?.4B^U=QEFU42V1&QUG`.2?BZB/R(S3\J$2#$?@2%@[2`G
M%ZG9([#LRNG"L).Y&:IIX$--<G@U@_>CNLTCGR2!@#`+<N!>4`J=E-P(BYY`
M2"*SQH]I/OO$246"^Z/',-^NMNR)\Q+$..RG_&\^\VTC6U+UK8E*6EJTNK/8
MYQ'G3''^+\BY)&>U)C<MYA0>=1Y"?7>GV*15!-9:>UO>D[]'6QB5Z]4ZWZ*^
MW6O[9SF[NV]3)^`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`U5^UCYJX8X
MQ1.V#HWOS^$7Z-*LS[*?65OE/266Z1=&MK5KX;`D)9I'.^CV.4ZIMN("YY.D
MJ7_E>ZJ_9U<-:;LL'R?[AE:Z>*BI9_,N=/JI2W:-+>=IPC`&`4:K!;'V-15R
MIG&*-R>N?U#Z>=V(?()'1&`WQMGQ/-?ZNAP*;,"41Y3)Z\%FY-#I$ME^.^U;
M3PHY6!655>*7C5Z?EY;Y;4]G$.J^:HS>G%HML6M$TS9WX>>*5</PJI?2E/?J
MO#:L59MO%^:'&9ZCW2;6F0T0C>179]FU.G#):3.:9.<RK]K<DEX\O43J5V2Y
M=MTP5S;GJJFRP^YJW&]34-Y4K_%986<<EFWMFRA08`P!@$;?([Q4Y+Y.@(D"
M^#98NU@6Y6Z1T^J.QA?0J+)F?#5(V$,OQ)L::'FNL1G3-0L<`W3;"J)#4=`$
M'(4)R,3:P)3C=9IX?I[JYH%[KPGK7BX;8%]=AQ"M+*$&1E0[A68,F+0;)*EO
M)CC@UI@R),^3RZ[S7EM1XM>/$IX"P2I$:-2[A8R:R`4-K37-G9DM)WIOJGBO
M5;KQ2,9Y<J,`S;XL\N=[=Y4\%YQ\#<@.-N,3M%XWI'Q-1*3Q`D'N++C[2M?`
MD0#G3-\QHQ2*_O:7A=QFK^&\EE;>Z5NW,T[-7;T7F[?:6N1ZV\R-!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`+;N50KG0*A:J%<14<[4;M6SE1M(29[^
MXABN609*#&Q<KX:D.?+D!LR3$>]Q:%_#=5[JDJ]-Z`\GEHH%HXQ?[QPV\R9D
MZU\L+I$-G""$HE7BC3M.RN==)3M"&V)'TSK"&'CKL!&QHV^#KK58[JY%9F);
M[.SKXJ=U9^OB<?:T<-5OEJEK;5>'VAEOE2HP&-G&31"$)$C(KTXB3(RF84"!
M#C(V[(E2Y<A;;$>.RVE2W775I0A.M[4K6LTF+NR,TFW"4MX)79=O-^(6'MC3
M=FZ/',4/B>D?-Q*G-^<KMVZE"2GXFIEOTO<0K0><O-:^-NMN;@W2W,[2U9?H
MI76B%>MV-53JLK4^*;_*7WSM8WII5-W>OJJ>653WP64NZV(^/W$H/D(JMW`T
M!B!O%:GJ%N\KHC(]D<-[=*`J8V`N!$,TTS&C\(KCD6,_SNN_+MQ.G3HD.X/Q
M_P#9Q`JVKUA55-EA[\C3Y=ZWC-^&9G_L\].>&UG*%!@#`&`,`8!2#]?`VL&6
MK-I"";)6SX^6(.U\\.AF`AH5/97&G#"HH@S(@D1\R.XXQ*ARV'H\AE:VW6UH
M5M.PF+JS-(/DK[.:W\M_J%Y\88I2^<\;^+,,<*FD%SKO3X^O5<B1R"P%Y.W;
M:"C:]7]<SM,_^OP6/FF:+9R3+%<YOJZK:QNO,O*JQBFK7!/G_CSPUC$UT##(
MTQ$=FP9/O-1I$R%.:DLR($X41'/+C%!)H;/:C$0AD3+:>A&`Q:+"*"9S#\(C
M$BRF'64:XW15IIP\3?-[)3@;]7YE8_):SP=Q['Y`M!TT%B2UM,D3PFM.$'J3
M-2ES2ML/]-*%C72''XRF-SZ@5YQ`+1FR=;4EO&IR]E@;)<*2SQ?-Y>$=9-NV
M5)&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@%"LEHK=-#3;#;#HFM@AS2GYQ<V0
MBC!T1I.O52WY<MQIEO6M:_[R_7?^FMXB<`VEB0;.>TW\1Q$L3&'6VY79H]T(
M1R<*3YYR[H%W"E>DGX[LL)2AY<!7Y<";8BT-AZ:/&17W9,N&T[*9;6RTXM%N
M!YPL[Z:VDJJIP3>]ORT7UX_>T!\//*`Q/J_%^\4>SW04\_&*4*21_H-\'/QG
MMQI#4NH'4#SJ%,R$K8<]V$K6G4*1Z^NMY$/GR<DSJFM)SY/!]28^02:UO:*^
M)Q?M-1&=CY2(42[ER,611$KL/<:/(ZYSB0\@C8>8K?DN1XF[+&D,;LG+9I*0
MQ%@6U$VMO$@5?O\`;"K=Z*W15.6:U16JE5KA=LT]'Z:]<4C3_P"//#HO0(E7
M[;U1R":VXM@[S[E\=:I5;Y_-AR-Z8(W5IYIK=EZX#(1W&B$0C&0%YE8H;H@"
M.DV4$_=BFSJ=4-X8I?:=7Y?<Q5*HE+'!U9O5+2GS>=K*;/*N7.>61794TRM/
MBR"(.,O(5ZI3Y)G1LE34@4QO[/B\!"S65QSLA&]L]G*QW0+2G.503*>FY5U9
M+Q?X+_+]3P[N_P!6G^...&UUMMMEM#32$---(2VVVVE*&VVT)TE"$(3K24(0
MG6DI2G6DI3K6M:UK69E#[P!@#`&`,`8`P!@&M?LWA[Q3S`\G`L$=6%CU<]GB
M9_EG?:Q)V+$=`KO]&9E5/QPND5AM0RW6ZW0)88[82ZF]W+G'(&&@Z30*)UFJ
M)G):\3:B8EWCY$[PT\=DM,&[Q8W)L,,16&8T9EJ/&CM-L1X[#:&F&&&D:;:9
M9:;TEMIIIM*4-MH2E"$)TE.M:UK6"QRX`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`6U<;:#H=4L-TLTUL>`K`B<:+3'=ZTEB%`86^\K[?3U6K2/<;3_`'6XI*=?
M;O62E+26+(;A2>=CS=Z.0\@.?Q[C)/V&0\><CN<:K]6?@V&BV4I+<&HG<V?B
MMR!2Z_T*L#)!8Z>*D7S4V%!JMU+6`74J&FJV,UM2N!QRXLJK/+9VC37$R<N_
MVPY;/[VC(AQXN\;\AHMLK_&*SU#E%.*]%L5U(PG#%!/]':K=@)4B"\X<9(Q[
MK1D0K(-K]"F5D24$#I$D`Q<[=('&"#DD=(@37A.65YB(>UN3Y9$)WPGV[==L
MC4AW?V/ODAXL>:O,>C=VZ;%JW%+)THM99/>>#[Z.Z49L2MDK.)YJ!@UJLV"^
M4^Z=$)LQ:/5B#@0Y%A3S#I"$W:T!I(^=CNFX5M\L.6DY\CKIKIX:J83<850U
M+S>D7MGKF>N[V;7FQ:[=TCI/@WY#W,%:_('BHJ&<KULC2PD$UT2@;1'B$7+%
M4(UA-V&O6.F'5R0/SME8$R^@UV(,Z6-&1`ECA(PUFLL?/1O3TLS/)0GPO!WZ
M3"FU[;IW3;W*94&K/RV\*'C=AD]2Y;$L$^F6JQ,'/)_Q]ITV&&)=D"-1W=%C
M/-BDM^)'K-X.*1!9Z77HDX''[%6HTZ#&/52]S9%AL4IM)K)B$\<4OA;RTG6,
MM.1)[F-OY_=J2$+\PF"Y%.C,?T,=!%0'`B:VX`W_`$F542-9DQ!Q&GFJL_%6
M#,4XP+$F:L0A/A"HH=-A/1&H,&FG#Q^^^\ZE_8(&`,`8`P!@#`&`1X,WBX=>
MLI?DWCW.:C2`L]T+U?O"H40O4>0.-?X2-9JC4Q#PF_=TVA7PH55^'/J_-E.(
MLW5_?VW6N<=&&E-&=6&2S?\`^?-Y:J7/,N9T_D-,$T.C#G!X,5N9)6[,F2BA
MHV9*S'R9^SV<Z0=D%+':[,9ES3EFL9>3*+'#4Z82(27Y,AQ>QH7]@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P#4M[:;JT[E/A*<DP7G(WTKOE*J\R0VK:-H@N
M3GC#[2E:]-:1*4);CKUO?HI#BD_ZY?LXXKY?HI7,0L^IYS?!>!T?L[?3+I0J
M?<;X]6WA585JL@RIUJOMG6GB9);K8V-)3'D'_P"CAV]+WZ/+9`?#1OX>W-*W
MFG^36TSS;PU>:>^CSAX0_/EZP3VY4N\\!\A.+]1[3S_J5`Y^#MYUH[:SO+>C
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M>XYV6:U%;+6@8*;.4SHS0^.W%'#>R\Z5.$0;[%A1F(T,?8QY:J=.`C8Z`]8Z
M&$!R28H@#NH=UYKD\OML8=E]M/<MWN#Y,T.5RAF/OW-]:!29EV\>R32=_:1F
M]$BC()'EC"6U,;G)[77*`'CD)&Q-=M-S3'_JD@9OLW_%RM,*NF?A/)&>1!@3
M8!D`V!*#C88I%:FC"XB;&)#",-].EL2X$^&Z]%EQ7D;TMI^.ZXTXG>E(7O6_
M7!G$6=F5'`&`,`8!AR[=YYM2#NJ8X6F6WI3L9J5#Y1SH20OW3I4>3ZHB3GZ;
M6&"!0"!?>]UAVX6I`&EC%+2\:L8R(ER2@65-55TK:NR_?)2]CHP>4=M[C[KG
M6ID[@W*Y'^)?)Z+9VW^QVZ&K^T/I76ZG.6,YV/>2M;9*H\3+ESCCL>'*C]UT
M,E%JL^-%0J;XOR7@\>;Z9DP*I4JO1*V&IU*KH6IU.N0&18&MUT9##A`XZ/KT
M9A#1D!EB'#CM^N]Z:8:0G:E*7O6UJ4K8L7#@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@&L+VQ/CI9_)KV?G<Z-0X;A&_P!>&#^DTH<QK7S10U0I[1Y8:*O?
MII#YD9'(#&]JWI&U2=)7M*=[5JU+A\[$-8;/RU\,?`\1GL2O:I5[P\\BKG0^
MOS907E_:X`L"9+2F93>JG>:U.E:KA2?%VVX]N+IHF9#DHZ([,I.IJ)#:I4N#
M%%3I33=[*\SX9Y8)99QD:U]E4J>*F[ZRLFHROJ]<#T[^T!\I*?>^$@=5RPBC
M@XE>`LN%/%3XY"%+8T$LB4NQY49UQAU._B:U[S:E:^WT]=;]?31))SYX1:,N
M=_\`2.2<9QB+\T>9_P`B_(VKT*I%S)R4T_#TW)A1Q*)"FI5B(;95Z5X>ME]J
M0F3+]YMF=.C?&578<C^LRX[R&F8DRU=<6;EWS>N&'/9^%M.S[.JNI6MBV_?^
MRS/^CA>,MS\H_:;UONA6"\_4N"2CO9[M8DQ=-PM7$C\ZW5AS&](3%3+)6$CN
M5N(VI+C(^-*?9;]UCU3SK!OP7-_J?(Z^V:5--"SBW=ISZPM[Z'],S(.<8`P!
M@$8S_B!P@F4(6&LUDIR.TE)+Q$G9.'6JR\>EFB[R]N;,VT30B82J]!(I<WM6
MG.B5ZV,J]?==8<1_AP,<8?-)QRG#P+9<\?>Z@O7=+\JRIO2O_![IQWGE]CLZ
M_MI$=7'5>.$_;:$^FDJGD"$E6]>^])>5M6]B.&C2.3?YDX-\K\OF_P##KN/C
M=*]?[.[\9.GC_<]?]?E_^MF2^)[O]O3YEKWO[^J/_AP1P4=[_P!E_P#4^T<<
M\JYO^06\B^+P(;GV//4WQAM(L^RG_7Y$E;?)J]@VW-?Z.3:G.;_XQ_\`38<%
M&E75?BE'?9\1Q1GT_P!JG;?(+K+.O\2!,^^PN45]O:_]]&?%>.M>XUNPBW=;
M<96*N\NVQ7HSFV)FI?II>"R5*PI2ZO\`^39G_G_,N<<H!?1GF%#I_/*]\PY,
M6%I=;$5D:].?]-R)\F('B0V91"4K7ORY\A+LR4YO;LAYUQ2E;"9Q+XP!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`/S>M*UM*M:4E6MZ4G>M;UO6]>F];
MUO[-ZWK[-ZW]F]8!XV/;%?\`1K"?:[S:_)GP,T!%7.U2YA[H/"2LJ,##'3DE
M3LH@?HA1Q+4`60).>^[.!S=MQIL]S3\5YIZ1)4J;/9ZO!^GYS-*.U=%FIIRC
M&G7FM%E@K'EG/^(OM6.'2W>?G.`>2XC<%U,1D2[0S%P%Q]14KBQ_Z1)2//CH
M\9+7O)ANC)#3.V5)6PKW%)WN5Q93&SE9^_:-.+_CU2VZ4W=S-+G?`E5XL^P?
M]IYYOW4,3Z)0+AR.BK<B12O4N^2)XM<$"VYM>VJU7B;KMC,ML)<=;@0!0](^
M,\KW5*C,I=4B(UMYOI/W@/MNSI4=FIY**?%Q?PD_H4^SU]GUQ#V<G!!7$N.0
MW)TI];);H%_*1X[=DZ#:O@[0^7*K83O4>#&VX\P##H=>8$0G%-:>DR7I<R3'
MV]^_T<[;;;J<MY_9+1+W=D[<`8`P!O[/MP#%74^U\UXQ7Y5GZ-:!=;#Q'([#
M\PE.@#XS<F7[WR<5V>3EP1L:5-]Q?R,:7-CO3MH6F(A]25)U*I=6!#J2]ZD?
M>=>T*\4NEVQBCANF0!EFFRXT`9"/:9AQ"A":K:(`V(<AR2`!!8DYK3(D/-*1
M"QEY26A,&:OU3J70U?'D0JT]N9\])]H1XN\JL!*LVJ_1DE@DG40Y$'R`TJ:#
MD;]W_(,"7#$<X.D[][7N0Y(MN:_ZI^7CO>^W[\JAO3J.-3%^GM^1?Z_,7QOW
MS/?7HO4ZU*H3<_8B0:7.8$H''-);7]'C;=A<#*KMBVV\RZV`L.Q9=]E^.ZQ#
M=;D,J<CA<Q[]\@ZJ5G/+W]RP^<^T)\4^FVQFCA>EP1EGFRX\`7`/)9AQBQ"9
MM2((R":B22`'^KDG$_"$A)1.*9,O*2T)@35[]W1T-7RV]R%6F<?2/:%>+?*[
M`2K-JO\`&26"RM0CD4?(#RY@.5ZZUN.7$;,,G1\K[?\`!"D"D3G_`$](\9[:
MD:5*[.IX1[Y$<:W)(<L[#S/M=81<.6W`3<0&Y3@^3)&N.(E"R;"&W'Q)P5,;
MC%@)=AIYAYX49@P2#<>1'D*C:8D,N.5::LU!9-/`R5D$C`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`H]A*)!@#AI>DJ0'#DBB]*]?=VD
M?">EJTKTWK?N[TSO6_3>M^G]MZPKM+4.R;T(H^.5=$=(;F>0EIBQS]E,V>[!
MZ`\2;;F-TBF5BUEZE&<KS+VG&A1RZN@GK9;2T739"9(*Q02I&@@`1!B6JM\/
M*8S>/.TQX%:4L=6_3E+B_H69Y;U05UJ[<GXTQ&"C;E9)A">'Z`^$&$+-ST4.
MKUOL,X_4B,R.N8*-OD:B)KD9^!(9=CQ;(3*L[9)#!DV)--DZM,NGKIEHV15=
MI9Z]?$XO""QR1GBK/`6(<-1/XN5OE#*J9'PX<0Y!K;23H(A/CQ666I9&94#(
M&/89[S?S!8RR2(2E+=E+5M4OCM:8\/M^-!2_A<Y21#Y]5/H#W7QV\A:K$KL3
MG77>F=.YRKGXRK@A8.JBB5ADT>OVX)%@P&FH5XMAX+3K)93T5IB=J*L[6]2/
MZ&H?$B6=U4GBDKZYP]E@L<9FQ6F4T]9\+QX>A+CRZJX3KU\Y7Q%J*'&WBQI+
M&0?0'@HR=9**+%@;8;EDZH4EL.3A)B88JH4"B2.?BOQ!IPP3C/,EAXJ7$BA\
M*=7*VMUCU\L<2:E+2V;]]/,K_@+-GR?'`?2+(,&,E.8V>W<N*:AP(4:*8@@Y
MB9`$A/8C1V(\PI.J!8$BPSG&MNEC2"4Z4IQV4YO=:[5='[\2:+T^1A6Q\H%>
M*?F)R#H7'1S-9H/D2;D<WZM0!/\`['6?GGXTAT'8Q(9KW(`V9$M$P!)B,PV6
MH\"),O>HK;2[-(3NR^*ESC3@_?+[6S#^&I1A5BO?,VFYF7&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!3C`R(;$%`T]"G()<=.&34)W[
MJEQ)\9V+)0E7IOW5*9=7K6_3?IO?KZ;PK7#O8U&<2\A5^$EH/>+_`)/03=<J
M2K=9K!Q'L"!9`M5[6%MAN?8R`B0L;'E2M3T&B)(LF,/CS':V@C(`'8(@2)KE
M@MFE2X_BIQ:^)3GX_P"WO)FGPRGX,JGE;URC&;]PKL/%>C0+1?.:&BDTASNK
MQ#%@O-PI4T&6''-5FF"19"PSY\:O';/!B2Y@F/6($TY%-%#+<NOP!!92FDU4
MK//)/>^?.;6S:-IM--SM,QMY_G*;C\3?)?QE+\))"CG21(VSW(C=K'U@<3@$
MJ^T'LMX(SW3(1HA*C*#*&U<>[$JD`BT6?CI'`XKTUYA[X[;:JFJ9C#!VRO\`
MO`4NE*&\?]>V1`Y-VZH<QO/&>:=GOJYG'J3TWIG2>9=6$5.R3J5>9!!XF[6:
MR*L,85MD_P#*6RT6RZV$A4]V2MA%!Z)76"KL""X;)V:F>%7:4J5;>\1:R6,-
MM[53NIP4^N6_X)->5O7:04Z#P_LO$^@"K9?.<$#+ICGE;A&3][N5!FA2D$ZU
M6ZD&&SK%)E101RRLQ"$X9'JXPD4@'2174JOQ`Y:*5"=-2A.\[K6ZMXS.">5F
MTVG2[JT>_1^M[^&WE3XW,<<:5+Z>)&W$O8+5=^EPS4`D"C@KC;3LXN7"HGS6
M5AE"*JAR-5QY!LS(BI%A8CLQ^,YMUIJM5-3<Q:+;I9^./,4U)+?WX+3)&51)
M-ORCZYSVY5R.Y)XGQXU)N$"Y;1O^E7V^-"B@(`+I\S>OA'JX$_K<^RV*T"')
M->FG!%.%!IY%8PV^A\M+4_$[1>4L;_;";LE?%5,0ER<^_';4G-E"XP!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`/S?]M_\M_^F`6[8:U7
M+<*D@K6`"6<',]SYL-814$T*E?#5I:/F1Q)B3#?]Q6M*1\5E7NJUK>O3?VX!
M"B[>1OB'X<=2JO')E.`\H,=)BAYS1:DTBF@*HS#)F9@6'-MLL%*'D!<.-/CR
M%/3B8C<-F/MZ6U(<9CSEQKJFJI-XI;W*RJ7$1.D>9*`]Q+BEI.:M5GY'RVQ6
M5:T.ZL9ZA5,N<6XA*$MN?U<@*D3U+0A"$MK^8VI*4HTG>M:UZ5EZOJ3"T70O
M,]5ZM:0[M;L]=`6,!(0TAX`>$#BX=]MC>MLH=%D(\B$ZAG:$[:2MA26]HUM&
MM>[KTB<\R86$6T(E7GL_C%X:6^ETDASB#R4;U6=$&P;K2N>5<#SQ)14M49$&
MVF0#D!\4_#^.U-<=)B_E6ATIP@S)7%A%G8%DG5-YC*\^!652\(G.Q($UQ3B5
MJ.IM=BY)RRQV9Q3<A-D-4.I%SKBT(1IE_1B<*D3UJ2A"/A._,;VE*$^XK6DZ
M](EZOJ3"T70RDTA#26VVT);;;TA#;:$Z0A"$:TE*$)3K24I2G6DI2G6M:UK6
MM:UK602=G`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!
M^;_MO_EO_P!,`QIUCHPWDG.K;T4J,-'(U7$OSV@5<&RRY\]/WM+`P(('PF9#
M[TXJ0>C065[;U&B[?W+FNQX3$A]N4I:6I#<*3SKC?''S!\D17:^R="\6!=]L
MODD,814K/;^H`^?G.0"!!3XH%FJTTW%43BLQEAP4=O9?^GRR]9&(B+<3'L9F
M63WXJ:>%*MKAF4E,N^<W]X8&<5.7$S%[+R+=Z+;?)>X</Y-S/I?)^K3>B^'?
M8XJ[9.@5HZ5E6;F`[X,.`:C$HL=R#8%UN2-17"92%-EQ98Z;5CZYDQLB7G1"
MX>)M.U:M/^3FVU[[1R(NU%_AG++?D2"Z!9>I^6WFBCLWB;6^C01M`\8+_4AU
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M7_/7_KG.:G/@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`*1](`/WV(_,H?[V`/I
M`!^^Q'YE#_>P!](`/WV(_,H?[V`/I`!^^Q'YE#_>P!](`/WV(_,H?[V`/I`!
M^^Q'YE#_`'L`?2`#]]B/S*'^]@#Z0`?OL1^90_WL`?2`#]]B/S*'^]@#Z0`?
MOL1^90_WL`?2`#]]B/S*'^]@#Z0`?OL1^90_WL`?2`#]]B/S*'^]@#Z0`?OL
M1^90_P![`'T@`_?8C\RA_O8`^D`'[[$?F4/][`'T@`_?8C\RA_O8`^D`'[[$
M?F4/][`'T@`_?8C\RA_O8`^D`'[[$?F4/][`'T@`_?8C\RA_O8`^D`'[[$?F
M4/\`>P!](`/WV(_,H?[V`/I`!^^Q'YE#_>P!](`/WV(_,H?[V`/I`!^^Q'YE
M#_>P!](`/WV(_,H?[V`/I`!^^Q'YE#_>P!](`/WV(_,H?[V`/I`!^^Q'YE#_
M`'L`?2`#]]B/S*'^]@#Z0`?OL1^90_WL`?2`#]]B/S*'^]@#Z0`?OL1^90_W
ML`?2`#]]B/S*'^]@#Z0`?OL1^90_WL`_B/8/0&`,`8`P!@#`&`,`8`P!@#`&
B`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@'__V3\_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>32
<FILENAME>g908770g90p95.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g90p95.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X5D<:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](EA-4"!#;W)E(#4N,2XR(CX*(#QR9&8Z4D1&('AM
M;&YS.G)D9CTB:'1T<#HO+W=W=RYW,RYO<F<O,3DY.2\P,B\R,BUR9&8M<WEN
M=&%X+6YS(R(^"B`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@
M('AM;&YS.F1C/2)H='1P.B\O<'5R;"YO<F<O9&,O96QE;65N=',O,2XQ+R(*
M("`@('AM;&YS.GAM<#TB:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+R(*
M("`@('AM;&YS.GAM<$=);6<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N
M,"]G+VEM9R\B"B`@("!X;6QN<SIX;7!-33TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+VUM+R(*("`@('AM;&YS.G-T4F5F/2)H='1P.B\O;G,N861O
M8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O4F5S;W5R8V52968C(@H@("`@>&UL;G,Z
M<W1%=G0](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]S5'EP92]297-O
M=7)C945V96YT(R(*("`@('AM;&YS.FEL;'5S=')A=&]R/2)H='1P.B\O;G,N
M861O8F4N8V]M+VEL;'5S=')A=&]R+S$N,"\B"B`@("!X;6QN<SIX;7!44&<]
M(FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]T+W!G+R(*("`@('AM;&YS
M.G-T1&EM/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1&EM
M96YS:6]N<R,B"B`@("!X;6QN<SIS=$9N=#TB:'1T<#HO+VYS+F%D;V)E+F-O
M;2]X87`O,2XP+W-4>7!E+T9O;G0C(@H@("`@>&UL;G,Z>&UP1STB:'1T<#HO
M+VYS+F%D;V)E+F-O;2]X87`O,2XP+V<O(@H@("`@>&UL;G,Z<&1F/2)H='1P
M.B\O;G,N861O8F4N8V]M+W!D9B\Q+C,O(@H@("`@>&UL;G,Z17AT96YS:7-&
M;VYT4V5N<V4](FAT='`Z+R]W=W<N97AT96YS:7,N8V]M+VUE=&$O1F]N=%-E
M;G-E+R(*("`@9&,Z9F]R;6%T/2)A<'!L:6-A=&EO;B]P;W-T<V-R:7!T(@H@
M("!X;7`Z365T861A=&%$871E/2(R,#$U+3`T+3$X5#$V.C`P.C,Y*S`U.C,P
M(@H@("!X;7`Z36]D:69Y1&%T93TB,C`Q-2TP-"TQ.%0Q-CHP,#HS.2LP-3HS
M,"(*("`@>&UP.D-R96%T941A=&4](C(P,34M,#0M,3A4,38Z,#`Z,SDK,#4Z
M,S`B"B`@('AM<#I#<F5A=&]R5&]O;#TB061O8F4@26QL=7-T<F%T;W(@0U,V
M("A7:6YD;W=S*2(*("`@>&UP34TZ26YS=&%N8V5)1#TB>&UP+FEI9#I#14)"
M,4%%.$$S135%-#$Q0C=!-T(P.39!-#-#-31#,B(*("`@>&UP34TZ1&]C=6UE
M;G1)1#TB>&UP+F1I9#I#14)",4%%.$$S135%-#$Q0C=!-T(P.39!-#-#-31#
M,B(*("`@>&UP34TZ3W)I9VEN86Q$;V-U;65N=$E$/2)U=6ED.C5$,C`X.3(T
M.3-"1D1",3$Y,31!.#4Y,$0S,34P.$,X(@H@("!X;7!-33I296YD:71I;VY#
M;&%S<STB9&5F875L="(*("`@:6QL=7-T<F%T;W(Z4W1A<G1U<%!R;V9I;&4]
M(E!R:6YT(@H@("!X;7!44&<Z2&%S5FES:6)L94]V97)P<FEN=#TB5')U92(*
M("`@>&UP5%!G.DAA<U9I<VEB;&54<F%N<W!A<F5N8WD](D9A;'-E(@H@("!X
M;7!44&<Z3E!A9V5S/2(Q(@H@("!P9&8Z4')O9'5C97(](D%D;V)E(%!$1B!L
M:6)R87)Y(#$P+C`Q(CX*("`@/&1C.G1I=&QE/@H@("`@/')D9CI!;'0^"B`@
M("`@/')D9CIL:2!X;6PZ;&%N9STB>"UD969A=6QT(CYG-#5D-#$\+W)D9CIL
M:3X*("`@(#PO<F1F.D%L=#X*("`@/"]D8SIT:71L93X*("`@/'AM<#I4:'5M
M8FYA:6QS/@H@("`@/')D9CI!;'0^"B`@("`@/')D9CIL:0H@("`@("!X;7!'
M26UG.G=I9'1H/2(R-38B"B`@("`@('AM<$=);6<Z:&5I9VAT/2(Q-38B"B`@
M("`@('AM<$=);6<Z9F]R;6%T/2)*4$5'(@H@("`@("!X;7!'26UG.FEM86=E
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M3FIO*T-K-5-6;'!E66U:)B-X03MQ8FY*,F5N-4MJ<$M7;7`V:7!Q<75S<F$V
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M95!Z="M416M%9#!N;%=*)B-X03MR2UIB;#1R=V%D6FU*:W,T-'`U;4)$5F]T
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M-FI$-5=I;70O56II2'`V9%IY5F532V%8:4=2:6A:9G%Z;U8U8VDS2&E')B-X
M03M$2U-Q;WDO;5`K4V-&=S!.>#524T-K-U=Y>7E71VY"1VQ%:SA+2T<Y5&(Q
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M03MK:S`V>$MX<&$O6%)+<CA(9'569$UM031G9R]$=G9S<6UD:')V-518,FXV
M+V91*U5O0D0U8G1N=3E15G)#>$1&15(S26EO>$0Q151H)B-X03M8<G=99SA7
M3DU64S(T."MF:WA$1D52-5)35S5K9$E46G!P,6HV<7EY6&-T:W%-5V19.35B
M9"]J1&Q"45991FQ"5E1F>D1Q=C54*U@Y)B-X03M2:#`O5F9+<T5.>$IP.&UQ
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M-'%G8FIZ,RM41G1945AL>#525TPV>%DO<$9)1S`R>3E1)B-X03M21DQI4TY3
M3UA%4$I&6E-U=GA5;T)Y25DP>%9Y-G0U0S@P=WA79FMV>7IA=G%X5W=V<$)*
M65=#;VQP3$YB4UA-8VAK<49C5VQX5650)B-X03LW0EEQ84MV4U`X0BM2+SA!
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M.4=/9U`X<2M!>%9/4')N;FHO<3!A6B\S17)J+W-G>%97*W,K8E!Q668Y1S)(
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M4$UT-35N5'I$3G`Y<UIH86952C=!87AC:7EN9R]F9D1C5R\V4#1Y+S<P3CER
M,GA60S8U-4-V.55T3&4S:3!(5&1(83%:)B-X03M7:'5T2C%/5WAU1E9&6D9J
M17-7;D(Q5#DT9FA">%9(:GDQ<5IS-#=A9GEV;V0S-F-I6$IN=7(Q-358=6\T
M>$5T,4DX;6Y.>FXT<4(V)B-X03MH*TQ&549O6&M+8E-.03`W43`X<39(95=U
M;4US='1*9#-:;&PY9%%".5E9:E1&6#%A2TMU041I<5EX95@W*TE826DX;BM8
M;WAE4E!")B-X03MD:&)L:#8P36I--WAY53`W-#!:,UIM53=%:VYV:7)8*T<W
M=C9U='0O9S-Y-3E85THT1F@K<W1W155J1C-J0R]O-FY";5ES>3E#5%A&)B-X
M03M69E1T2S%N5%IF5S`W>71O3FQ,-E,R+W%7.30X5&5J2'5K5E4P-51W6'-V
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M=D5L:S@S-F1A85DS<'%964Q5*W`K.&%A)B-X03M9341)2G!A.%E6:2]:2'A%
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M;E1X2DUV,6DV:W1N4$=+2S`Y35(R.%EK6GA,4E$Q1'1U)B-X03M6549&<6)R
M1%!B,F8U5U=L;&5A8W-Z4E-.<',W44YC47!.2D,Y=45S;S9O>GAO83AW,5A#
M9U9Q>7%V5"]!0V8U:#%85W)/5UA59$QL)B-X03LP<6%,,#$Y2UI::UII,%E:
M:GAL:FI50W`R-'4O*U9X87$T<6YS>7E.139X=C9C:DM1:VQ!,T5K8D=H-C!X
M5C5X-5$O2W5B4F9.9&YR)B-X03MW.'=T9EA/;C)5,FPV:D,P1E1-2G!M=3%R
M2DQ,3DI'4C9Q361Y5T\Y9FE)>%8V5&ER<U9D:7)S5F1I<G-69&ER<U9D:7)S
M5F1I<G-6)B-X03MD:7)S5F%:;%5666A2-&YB1E5.2G%D;VUW675F.&MF,7!I
M<45U9&572THU1FA,.%)7:&%N.$1I<D8Y1S@O3$)P1VYW=%EK:$Q706-H)B-X
M03M,+WA5=F)H:7%B5R]N+U-N244P37-6931#<U!W25`T67%N3FIR96Q8,4)A
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M;6]3=%!P>%9*-U!Z6G`X5V\V;V=34GI*3DA-=$%O2$9O231X,4YF=%)(1E=R
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M<C%U;V5/<6M-<D1::#!)238W67%W93DO,W!F-E`Q1$961$9,<U9D:7)S5E)/
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M:41Q87-:=4DT3VI%5C)A;$1Y1TMS.3`V,6QT8D,S='!:,G5P64DQ:F4T:RLS
M259&3U1B;F,O4$955&EQ3#!Z-C5&9%(S)B-X03M6<S5I:VA936MV9U(K=D-R
M,F91=%=I,514,'56;TI".$UY1#EL>#$K:G5-5E1$1EA9<3=&5D\T;45-3%-(
M.6MB1#,W67%X.6U,35=9)B-X03LQ2DY38U958G$R:75R85<R;35E;$UP4BM$
M3D<S1FA1,&1#<DMF8T=U2W9*9D]6:BM69FQ(5SE,,"]53D1L;&@Q:5-+4U`V
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M1$<X5#@S=44U<49L;6$S)B-X03MI9$-'6&DV3U)1:FYW3S)+<V<X:BMF3E`X
M,E<Y=SET0S%V3F)C5$I%>GAY9D)+6$5B5FI*<%@P,G%'03EQ:6I&5DHO>D8X
M=F-71W-7)B-X03MY-T=I6&%J>#9++SA$.4=+<$@U375V5#%*-$-A3$]H;U!&
M:S-(+T,X<U94:GI,.74S*U1F=WA6:CDS85%8;'),83-#;&]*;$M32T=:)B-X
M03M#5E!58VQ)66918T-P92]L8E%:3'%#-VMT43DQ8E`V<U4W4$EZ.'$Q<7I&
M<71U3VI6>%9.=75+;S(R<T-A3DYS3WED+W!W<6IW04)1)B-X03M#9TA11$9+
M9F54=%9.:G%Y>$\Q24QQ:V)J<T<O66(W.79P>%$Y27A6,DMU>%9,=%EL;W-C
M43=N:V9O,D=+<%AI<G-643)P6$5L=G`Q)B-X03LQ4$A8,4EO;F1/355L=V53
M<5-+47A%4U-B+W-+86YO35990S-N5#AY;%)P:C5A+S!A,V=T-4I/355P;6XY
M4S!M:VYA,V@U,55X>GA!)B-X03M#2U%H:4M,<WIQ47%Z,G=T-UI!.3-&1DI(
M2F5L6G!H35=-9TI504M1>&)H>$@W23)"<C1N1E56:7)#9%9&3E)U0C1/8U93
M6%="2F,V)B-X03M2<59T6C-#=S-:=#59,&PY47@K;$DX6C1->G!6:W!53EAQ
M3W5+5TQJ45!Z16E7-G1%,6%+87A-0E=Y95-6,6Y367<P<DI)25=K6D9M)B-X
M03LS6#DU>7`Q2C99;U,R-&DO3F,S161H1G%S1#-$=3AG;%5";S0T>%%+<W-Q
M5UE7;V%.='5+,39F1G5!<7)1>F5E<CET93AU>39N8DIQ)B-X03MS87=M>FM$
M=$<V471U,&]-8TU,35153'E553562'<W5E9:;'!E;W=T;SA6>F,S;'9+,&-A
M9E<W<4=66&@U.%%X4$]I0V@U06I98DA&)B-X03M+8C)D>3ER9'<S2V9A:&18
M2'9X3F%9<3EF:F1:158Q3E9C0FQ0<V1X:6A1,4-8,#=6>4]R9D-0<'A627-6
M4TQZ:%`U<&DP,DDK5W):)B-X03MB;2\Y94XU43=X;W9O4D@Q6E5R2G1Y;E90
M4EAW3#%Q;TA)2W-B6%=F>FTO4S=X+V]/>4]L9S-N1U)J1VMH0U)K,F1#=#=,
M57E3541G)B-X03MO2T1U2S=+;S-29%0O33`V:D1"<75L=R]59G)B4EA&,&]H
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M3#9F5D5L=C1N4F)I,U-'6E9#>6=N:T9I95E--WEQ;DI6*TQL.%)Q>D5H55`V
M2#57=WAX)B-X03M7375O6&(R;#-15VLW4FM2>'E+6EDK2W5K2W-(-3-*:RM/
M;T9%3E%/24MQ8C(S;"]Y9')6,C%L0F58-&UI<V\Y3DU4>&U-;3)S>D9,)B-X
M03LQ;6=R=3!S9%-4.%AB8D-Q3&8X04MJ45AA4FUV3#1T2F)X,G!Q.$I54GA*
M1V=)47AC3U)%2S=K9&1X46=55EIR:6PV<C5C;4TR:%=4)B-X03MN8RMK1G(O
M<69$+T1&1&5S=%-/3F9%:R]C4#=C5E-R1EA9<7=V5W9,9FYA.74W9U=M<6EZ
M<W!P3'IG<51Z8W=K,7)&2$%146=+<W-Y)B-X03MY1VET4D$S259A;D964#A!
M>71:83%9-DAB,FUT6$M8;6]1.&QK=6M,=#9I.'IW6FDK+TUR4711058R54%5
M>%9.8U931'IJ-69'<C97)B-X03M4171B,C-Q.75E-2]M5"]:9G)X5FE&+V-'
M-'-.4&Q9:W59>4I+-TAM=$9B+T%)64A&5D,R<S-L;WIF1$@T.7HX<U942T].
M23%#;TM!)B-X03M9<%A9<3=&6%EQ-T98;W9K4UEY849W4"LV6EA19DDP9B]J
M8D9$26-69&ER02]-+VTK3%0Y8W5B3G):<$1&=RM-3T)8;$=R9$M(>'A6)B-X
M03M+=CA!2#!0+T%#>'0O=T%'4"MA8U9D+VHV2"]L:F(O9W@O>E1I<G8X9E$O
M.'-B9CA'4#A!;6Y&6&8T*V@O=T-73G8X06=X+WI4:7)V)B-X03LX9E$O.'-B
M9CA'4"MA8U9D+VHV2"]L:F(O9W@O>E1I<5=Z-FEM;UA-='EQ1U!M4E9#83!O
M04]U2W)-56]7.'-.3FU*=4QQ,&EN94Y+)B-X03MC,FE%<CA66EIE2S=->"M/
M3E=!2#=12&9&5T-195E.0VQ7,G5)+TMK049+4V]9-#%U3%I9-7!1;V5->$1I
M9E9H1&-E5S%E6&%P54UY)B-X03LP4WHP1G)7,C%,5$Q/,FA7-6A6-'!O26QJ
M2FEK4D-!1'A2<4955%EG9$)T=&EL33A69&ER,#-Y9E@O1&QN6"]I>B]K-C)+
M1FYM3SEJ)B-X03MT;F=$<51Y1%5P5'141E5M+U1-2#AJ9F@O6$989G!M1"M2
M=G<O<FER=C!Z0B]),S1F,7A6,S9:9R]K8CA0-C1Q-SE-=V9Y3BM(.6-6)B-X
M03MD*VU94#5'+T0K=4MS6C%M>G1(=5!8:55I2FY:+U-.2T(S;U=O0C)*1F9N
M:7%%>%,W1E=-86XU-G1.3S%P3DYN9TQE<&1X5U,X1S54)B-X03MC<&\P:T5V
M<&-F-VME;T9,8S8Q0F]$5$9#6'EF;3<U6FEU1V=U26)M0FQ26F%V.$%6>4-J
M;$M%8UIM4#):43E/=$%E-'!I<6-E6&9/)B-X03M6:'(P<7!A5W1Z1VIW;31%
M,&]I.4]G;$U81&Q(2DHX6DMK,#A-57`O:7)09GDY+S0U;'HO04U:=BM.1GA1
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M8T]2.59A9D-Q2'`S-U900E93,#-84$\Q-#5L5WAT;G-J3E!'2F\K3E%)<&QI
M1WI4:FMF)B-X03MH:S5D3VQ2-$965T8S-3=E5%-*2DQ'3TI36E`P=$)%,%1+
M03!N1T]H9'<S=W@O165*,U`S67%Y;D95,W1:=E9H1&9T1%IV;4U+<75+)B-X
M03M867$W1EA9<6E,0S!E.'993%90=%1/<6)D9U1U9F]'2W98559554EO;W%G
M040R1TM%=#AX,G!U3DIL;TMT1E-69CEJ,2]W0T9*>%9G)B-X03LR2W5X5C)+
M=7A6,DMU>%8R2V]#+VDT>4-19$<V+TU9<6A-575X5C)+=7A6,DMV5V1&<W9Q
M5VQ7='-24F\T>'I(*U4S>$XO=WA/2T5B)B-X03MI<G-645=T85I(<6UL,T9J
M2G-*:TE6:BMY=S-6=F]967$X3W5,96$S;FMT-6Q+4WA-56M5.6U5,$EW2W`T
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M5DY#0T%7<C-X5D8V9'%U;#9L0S`K;EAK1C=!<F-';'0U16Q13E%.>$Q)5T9E
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M.7<K.#`Q3W`X0B]K:D9#85EQ-T9867$W1E=/95E03#=333$U6G(X9E=A260O
M.$%+6#,Y)B-X03MS5EEV,'A6<D9867$W1EA9<3=&5DLU:3E717%0=$1D9FU-
M5E-R1DLV2TM35U)9-&Q,>4]A2VEI<$I09TU696AE5G9+-C9C9W4W;T)R)B-X
M03LU:'-/;VI"-T0O2SA4:6AK5TMU>%8R2W5X5C)+=7A6>$%)24EQ1#%'2W-*
M.'@O;'AB6%)E-3!K<F)4;7!A,D\P5$@O2G`Y:CE8>7A6)B-X03LU.7%/:S9L
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M>%8R2W8X02\Y:STB+SX*("`@(#PO<F1F.D%L=#X*("`@/"]X;7`Z5&AU;6)N
M86EL<SX*("`@/'AM<$U-.D1E<FEV961&<F]M"B`@("!S=%)E9CII;G-T86YC
M94E$/2)U=6ED.C(W,&-D8V(X+3DX9#0M-#@P-"TX.3=C+3(T,&,T,#,P.#)F
M,B(*("`@('-T4F5F.F1O8W5M96YT240](GAM<"YD:60Z-T8R1C%$.#,Q1$)%
M13,Q,3@T0S)&.34V,3DS.4%%.3DB"B`@("!S=%)E9CIO<FEG:6YA;$1O8W5M
M96YT240](G5U:60Z-40R,#@Y,C0Y,T)&1$(Q,3DQ-$$X-3DP1#,Q-3`X0S@B
M"B`@("!S=%)E9CIR96YD:71I;VY#;&%S<STB9&5F875L="(O/@H@("`\>&UP
M34TZ2&ES=&]R>3X*("`@(#QR9&8Z4V5Q/@H@("`@(#QR9&8Z;&D*("`@("`@
M<W1%=G0Z86-T:6]N/2)S879E9"(*("`@("`@<W1%=G0Z:6YS=&%N8V5)1#TB
M>&UP+FEI9#HV.#`U-3DT-T,W,T%%,C$Q.#$P,D,W0C$W,3A".#1"0R(*("`@
M("`@<W1%=G0Z=VAE;CTB,C`Q,BTQ,2TS,%0Q-#HQ-CHP,RLP-3HS,"(*("`@
M("`@<W1%=G0Z<V]F='=A<F5!9V5N=#TB061O8F4@26QL=7-T<F%T;W(@0U,V
M("A7:6YD;W=S*2(*("`@("`@<W1%=G0Z8VAA;F=E9#TB+R(O/@H@("`@(#QR
M9&8Z;&D*("`@("`@<W1%=G0Z86-T:6]N/2)S879E9"(*("`@("`@<W1%=G0Z
M:6YS=&%N8V5)1#TB>&UP+FEI9#I#14)",4%%.$$S135%-#$Q0C=!-T(P.39!
M-#-#-31#,B(*("`@("`@<W1%=G0Z=VAE;CTB,C`Q-2TP-"TQ.%0Q-CHP,#HS
M.2LP-3HS,"(*("`@("`@<W1%=G0Z<V]F='=A<F5!9V5N=#TB061O8F4@26QL
M=7-T<F%T;W(@0U,V("A7:6YD;W=S*2(*("`@("`@<W1%=G0Z8VAA;F=E9#TB
M+R(O/@H@("`@/"]R9&8Z4V5Q/@H@("`\+WAM<$U-.DAI<W1O<GD^"B`@(#QX
M;7!44&<Z36%X4&%G95-I>F4*("`@('-T1&EM.G<](C4Y-2XR.#`R-S,B"B`@
M("!S=$1I;3IH/2(X-#$N.#@Y-C0X(@H@("`@<W1$:6TZ=6YI=#TB4&]I;G1S
M(B\^"B`@(#QX;7!44&<Z1F]N=',^"B`@("`\<F1F.D)A9SX*("`@("`\<F1F
M.FQI"B`@("`@('-T1FYT.F9O;G1.86UE/2)4:6UE<RU2;VUA;B(*("`@("`@
M<W1&;G0Z9F]N=$9A;6EL>3TB5&EM97,B"B`@("`@('-T1FYT.F9O;G1&86-E
M/2)2;VUA;B(*("`@("`@<W1&;G0Z9F]N=%1Y<&4](E1Y<&4@,2(*("`@("`@
M<W1&;G0Z=F5R<VEO;E-T<FEN9STB,#`Q+C`P,"(*("`@("`@<W1&;G0Z8V]M
M<&]S:71E/2)&86QS92(*("`@("`@<W1&;G0Z9F]N=$9I;&5.86UE/2)425)?
M7U]?+E!&0CL@5$E27U]?7RY01DTB+SX*("`@("`\<F1F.FQI"B`@("`@('-T
M1FYT.F9O;G1.86UE/2)4:6UE<TYE=U)O;6%N4%,M0F]L9"(*("`@("`@<W1&
M;G0Z9F]N=$9A;6EL>3TB5&EM97,@3F5W(%)O;6%N(%!3(@H@("`@("!S=$9N
M=#IF;VYT1F%C93TB0F]L9"(*("`@("`@<W1&;G0Z9F]N=%1Y<&4](E1Y<&4@
M,2(*("`@("`@<W1&;G0Z=F5R<VEO;E-T<FEN9STB,#`Q+C`P,2(*("`@("`@
M<W1&;G0Z8V]M<&]S:71E/2)&86QS92(*("`@("`@<W1&;G0Z9F]N=$9I;&5.
M86UE/2)-5$)?7U]?+E!&0CL@351"7U]?7RY01DTB+SX*("`@("`\<F1F.FQI
M"B`@("`@('-T1FYT.F9O;G1.86UE/2)4:6UE<TYE=U)O;6%N4%,B"B`@("`@
M('-T1FYT.F9O;G1&86UI;'D](E1I;65S($YE=R!2;VUA;B!04R(*("`@("`@
M<W1&;G0Z9F]N=$9A8V4](E)O;6%N(@H@("`@("!S=$9N=#IF;VYT5'EP93TB
M5'EP92`Q(@H@("`@("!S=$9N=#IV97)S:6]N4W1R:6YG/2(P,#$N,#`Q(@H@
M("`@("!S=$9N=#IC;VUP;W-I=&4](D9A;'-E(@H@("`@("!S=$9N=#IF;VYT
M1FEL94YA;64](DU44E]?7U\N4$9".R!-5%)?7U]?+E!&32(O/@H@("`@/"]R
M9&8Z0F%G/@H@("`\+WAM<%109SI&;VYT<SX*("`@/'AM<%109SI0;&%T94YA
M;65S/@H@("`@/')D9CI397$^"B`@("`@/')D9CIL:3Y";&%C:SPO<F1F.FQI
M/@H@("`@/"]R9&8Z4V5Q/@H@("`\+WAM<%109SI0;&%T94YA;65S/@H@("`\
M>&UP5%!G.E-W871C:$=R;W5P<SX*("`@(#QR9&8Z4V5Q/@H@("`@(#QR9&8Z
M;&D*("`@("`@>&UP1SIG<F]U<$YA;64](D1E9F%U;'0@4W=A=&-H($=R;W5P
M(@H@("`@("!X;7!'.F=R;W5P5'EP93TB,"(O/@H@("`@/"]R9&8Z4V5Q/@H@
M("`\+WAM<%109SI3=V%T8VA'<F]U<',^"B`@(#Q%>'1E;G-I<T9O;G1396YS
M93IS;'5G/@H@("`@/')D9CI"86<^"B`@("`@/')D9CIL:0H@("`@("!%>'1E
M;G-I<T9O;G1396YS93I0;W-T4V-R:7!T3F%M93TB5&EM97-.97=2;VUA;E!3
M+4)O;&0B+SX*("`@("`\<F1F.FQI"B`@("`@($5X=&5N<VES1F]N=%-E;G-E
M.E!O<W138W)I<'1.86UE/2)4:6UE<TYE=U)O;6%N4%,B+SX*("`@("`\<F1F
M.FQI"B`@("`@($5X=&5N<VES1F]N=%-E;G-E.E!O<W138W)I<'1.86UE/2)4
M:6UE<RU2;VUA;B(O/@H@("`@/"]R9&8Z0F%G/@H@("`\+T5X=&5N<VES1F]N
M=%-E;G-E.G-L=6<^"B`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`\+W)D9CI21$8^
M"CPO>#IX;7!M971A/@H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*
M/#]X<&%C:V5T(&5N9#TB=R(_/O_;`$,``0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`?_;
M`$,!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`?_``!$(`/D!F`,!$0`"$0$#$0'_Q``>
M``$``@,``P$!````````````!P@%!@D#!`H"`?_$`%00```&`@$!!`8%!`X&
M"00#``$"`P0%!@`'"!$)$A,A%!46,5B8&2)!UM@R45-A%R,U-D)6<7-VDY6S
MT=,8)5)U@;0D-$-B<K&RP<."D9*A,U1C_\0`&0$!``,!`0``````````````
M``$"`P0%_\0`.!$``@$"`P4'!`$#!`(#``````$1`B$Q05$287&!D0-2DK'!
MT?`B,J'2X4)B\1-R@K(S8Y.BPO_:``P#`0`"$0,1`#\`^Q/Z,3LW?@#X9?++
MIG[FX+;=?>J\3]Q]&)V;OP!\,OEETS]S<#;K[U7B?N4OVU1>P\T?L/9.K]E<
M,>,,+;M/ZA9[^V6WC.!#2VQM0TN\E'T*&R9.:IVEY^*-66<E&2:,LZ:.W*T,
ME'/WLLW9L&B[H@F>T<-557<+ZL],2V=7[.KLO+K6:[<JEP<X16*J6V"B+/6;
M!$\;M*O(J=KT]'MY6%F8QVE3C).H^3C7;9ZR<IF%-=LNFJ01*8!P1MU]ZKJ_
M<SOT8G9N_`'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T8
MG9N_`'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T8G9N_`
M'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T8G9N_`'PR^6
M73/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T8G9N_`'PR^673/W-
MP-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W->FNSQ[+:N2%5B9[A#P=B)2
M\SJU8IT>_P".6DVSRS6)M7YRV.(:$;J4\%9"10K-9L,\LV;%.HE$PLD^4`K=
MHL<H;=?>JZOW-=U5P3[+/<M#A-D4K@#Q6)6;`I,)1Q;;PTHE`L`&@IV3KC_T
M^IW?6D!9XLHR40\%D:2B6I9%@+658"XC7S-TN&U6OZJO$WY,D/Z,3LW?@#X9
M?++IG[FX&W7WJO$_<?1B=F[\`?#+Y9=,_<W`VZ^]5XG[CZ,3LW?@#X9?++IG
M[FX&W7WJO$_<?1B=F[\`?#+Y9=,_<W`VZ^]5XG[CZ,3LW?@#X9?++IG[FX&W
M7WJO$_<_"G9D=FTD0ZJO`;A>FFF0RBBBG&?3!")D(`F.<YS4T"E(4H"8QC"`
M%`!$1``P-NOO5>)^Y@ZKV=O9=7FL5RZT[@]P@LM2M\%$V>KV.&XWZ4?1$_7I
MY@A*0LU%/4*<9%Y&RD<Z;/6+I$QDG#9=)9,QB'*(AM5]ZKJS/_1B=F[\`?#+
MY9=,_<W`VZ^]5XG[DQ:[XE\6=152]T35/&_16M:3M&/4B-E5"A:GHM1K.P8I
M:-D(=:-ND%`P3",L[%6)EI2,4:339Z@>/DGS,Q!;NUTSB&V\6W&K;(=^C$[-
MWX`^&7RRZ9^YN"=NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T8G9N_`'P
MR^673/W-P-NOO5>)^Y`7(3B]V/O%ROTVT;GX/\2Z_"[`V14-151S#\-*1<U9
M/8E^?#&4ZMF94W64Z^9+6"1`63)\^;-HLCGNI.GS<RB??$JJMX558-_<\%CB
MSW=*<4>Q[Y"DV"75/"[AQ.2.I[Y*:PV;79?B%0J;:Z+?(=NU>/:]9*K=-9U^
MP1ZIV3YH^CGYHXT1-,%TWT+(2#,?'P'56HFJJZE?4\.I.'T8G9N_`'PR^673
M/W-P1MU]ZKQ/W'T8G9N_`'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!
MMU]ZKQ/W'T8G9N_`'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZK
MQ/W'T8G9N_`'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T
M8G9N_`'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T8G9N_
M`'PR^673/W-P-NOO5>)^X^C$[-WX`^&7RRZ9^YN!MU]ZKQ/W'T8G9N_`'PR^
M673/W-P-NOO5>)^Y#D)Q`[(NP[RO7'"+X1</%=P:WHM-V5;:PMQ&UTU;L:3?
MY"<BJK-M;$ZURE6Y8DC)5J=9*,XJ6>2#!>.6"0:-2'0.J)VJX3VJH<_U/*)S
MWHV'77!/LM-I-+6]JG`'BL1&E[`N6LIL++PTHE-5&T4.64A)\T.A;-:0RMAK
MHODC>IK=!$D:O86W_2X.7?MP,H40ZJU_55K]SSYDA?1B=F[\`?#+Y9=,_<W`
MVZ^]5XG[CZ,3LW?@#X9?++IG[FX&W7WJO$_<?1B=F[\`?#+Y9=,_<W`VZ^]5
MXG[E:I#B9V;<?S!J'$Y3LT>'!E+=QOV5R%;7_P#8"TF#=NEK?9NI=<.JD:M!
MKHZZBLBIM9K+)S9IE`C8L.LR]5N1>%=M1,U[.UMU8QB]&]=Q97Z,3LW?@#X9
M?++IG[FX(VZ^]5XG[CZ,3LW?@#X9?++IG[FX&W7WJO$_<?1B=F[\`?#+Y9=,
M_<W`VZ^]5XG[EY<%1@'SQ]H!V='*SE'RHY7["U1).M?5/9'`&AZ#I\XXM\$T
MJVU+K3]N6?85LTUM2`BIQ*[-M0;7I\^I0IN=B@B)ABX>NW95`BVJB$T-*:DD
MIO%3?)I*5O46)*U_Q"Y%VCE;0=@;:U)-Z_TDVT[Q60U[K_6^VM4!2^,=ET?6
M]G4K;6AIN*>0\_8;;IK:$%?'16`:N]!;7J'"%KVSVM?]61;ZH!*V8F7-4MS>
M8A\96?%;]%>]G=RVUCQ5E-8Z]G(S8,UJ7EC2'VIJR2R0L3:]I<#Z1R+D=Y!I
MJW7:]MI>LKWJ>3N3^"FT+JU5HUIC-;TV+MS&0:OY87SY\D;2;OA#G'[MF)QP
M]V0ER,[,GE).SY7NE*9<G\74N)?$VBZ@E-C;GUV\V#3-M:GY]I[VM*SN9B9&
MN0S"QUWCDZ5UO$6>NQYF:$8S5UI$6*7K0$FYD%4HOWFW"LTZ8\_<D61X(\XT
MN9,_=ZC'%K-#4YL<LM^UK;#;8M:%K`T7D+P7A]*T%)E3`F@LJSNC;PCE;)<(
M%Q#M&21DF-AK(6EPY=*,0VJ=G?LTJ-ZJG'>O8CY?LX.8LCPUH]>BH78U4Y1U
M5>A2UBKMOVGHW:''_8NU-7Z(F])35CM%(1)4BO=7\@J_)%]J]@/;,ZY(5JUC
M'[")$NK55PE+6)VJ=K^VZS32E-1C=:81;.UI^U(8>O\`E+V55,GZ(VVL>ZV[
MF'7[#JAA+U^+8[#.MP_NRB,$*EYFZ[7W46A9BQDFR2LDHV0!XS8*$[TJ#-,X
MK3]M>5J;_P#):$4\3^`?-;6^U./*O*&PW;;\'K[C[Q+;0E^H^W:,W1U7LO1D
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M<:K5RCY]V17CGK?;>K*=?-`:CY'0]"C>/MMI$I-A:]604[J>PUK9%L:L->3#
MZ=U4CN)P[U>O(S<:\C1$;2_Y13#C%K&>-LKQ?&28G_`'>#2K=I[>QU0M>][[
M4V;>Y'B(,KON6IS9[0[_`*NU/3;2CZ[HUPK)*4ZM%EI4Y/6AHLC3'=L9C%1S
MV5@B2;XT,&TOHO9);5I<IO57L[8QH1MI[L[^4$7LWC'==MZDK=PK&BNT9YL[
MG"JSMCU9*&BM`\D=33D=K5U581HX)3H6)I^RI1G,6"AP:$2K79-H>7IM=F"M
M&#A4'4HJU=-*M.*:G?=?R5MLW98\Y[+QHTYK>1UXWD+Y1.%/./4SM5YM>F'0
MCMW[:Y&([)X[S",F-K'TH*;6TG4@RL1`64I$D[03B`*^*H=LRU)VJ9E.VU0\
M,DHJZZ9YDN4-2-2[3R.3VQ7N3$])U?EK5'<7;?975.SZ<;8]CX6:UHJ6NK5?
MD-TKWZM:IH5M?3E\CJS$Z)FHZL7:,9;"/LINS5DEXT1_1BOMPO/W8X<L5*M$
MEK^8G"[F9LODYNW9?&ZXJ4R,VMQMV;JX)Z]3%;58TF^)\?K54]07S1=O@)-'
M;>K)Q>_7*2K.P:<YKTOKYQ$BZW"PD#;&85AC&B$Z4E-XJ3XJ;IIV=E9[XP*`
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M+7M<R9-?-E]DT.(CI"OU>+D:Q)24//`ZJ?JC^W+%*F&LL[WL_P`GDC^S4Y7.
M]];!M;BAQ$95ME[<[7E*?F9*^55VR?Z7Y8:]H\;Q=KL_$,IN3D'E4A+K#SDN
MO34HMXWHC]VZF6D4#J4=K+"-I0M5L1;29YX7SU.T'9]Z@L6@.$W%O2MSH\3K
MV\:NT9K&AWNOPSBO/6:UYJ--AJ];[`$A5U7$1)FM%AC9"P%E"N5Y"20D47TS
MZ-,+OF+45J<U5/5MEP\%1@#`&`,`YD]J9QSVYR<U+H"F:?K;BP2M'YE<;=UV
ML[6S5ZJNHJ@ZIN8V*U/8N1L$O%%4L/H/U*^U9F.HK(^&*RS-(@K@+4-)N<Z:
MES:@YPMN`O./76O+MK1K56VW09]HY!<G-A;79;`US&[+YU<=;-7[5&R59VC&
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M`%51JO0$'$[5]2]K_I@]<0VQ2XI&J,N6-A<V3B%,(OU;&6.6K6O$#F8-6,4X
M=3&NI=1NE!Q2,4*TNT$[5,MO7LWAW5]66?Y+*0?!#E=*[5V1([7;;<DJ\_X]
M:H9Z7M>JM^ZUHDG1YF$X53W';;&@;1(2T)8;NT2G]C6"P;,I\K4'C[6ZUYG(
MC8UC?L+-3(TS@0ZE:-7,K^Z55TMK'$WB=T_NSCEV*W/JA;U?P:ENJO'OF*ZH
M]KC(>KTVS35-A]13[/5=NO4#0)^P:]KFV5DH>.=2BFO)<\<[E&T98US^VLG/
MN%`E/M*8PVJ9ZWQO''A@4XUWPMYD6K7L5MW4-67C=&WZX]FMM&5XWM=B:P1D
M=Z4[5_'.WU7D=>F1+`]M.HDYK8UQNFL;TSCME.V#S8\IIQ*<V"VA;`YBS*B=
MJF;X_4IO9MVWVNK:V.@''CL^K#4N9AMC;/K5TM&G]=<6^)]/TK8-B;>:W2U-
M]U:/?7Q"1L]R2K<A`EL]XC:G9J]`!>9:JG;S'JVP-`779+-G4R*NKZ=[J;?!
MI6ZR]TVW5*Y4.*JIVH\JA>8/DA9JHPW?P"L`3M,I6L-H52I6FMP-_@H/7+<T
MYN*NWRAZNNTYMBH6O9$%7-+;+>3$C%S=A;OHY9]'.Z^)7VXJ^U:]UF\(G&):
M/?U'V>_-6&TUKMML%>[2.V:=R/XWS')^'?;=UM.:SYDZCTMOC9-^LMHJT$PC
M(-R-KO\`#[!C[!<!WO/Q$S<#4^$US8"+UZ"@)$@;2G10]G<VH72,N*N4IW7J
M:\Z)2U5IWE<IR.V*O7>,,+/;`)IJ'U?NU'2VN?I`;GOFDUBGQE[W/K:2B+43
M5=%9\?KQ8*E6=T,K=2HF%IT#67T36&C6TBR:=Z=E35"F5/TQ=X8_4DXO)T55
MX#;MB]7]HI>8O2Q;9R"VORTV%<.+K"0W3)4V.)QSV39N.<E)PI!K5^@(VL(J
M*ZQG[+8]?R[FKC<V;!K19R99P]HET6XKM?;HDIM-U.[?"TQ10BY\<-XZZO?!
M;C#NC6;G8=LNUA[;-&DZI-?M9N6%LHM\@(:W:(,V56L%8H,5#5):UMI:'A'2
M5:&@R4;(2%0K#"0C81DX%I45-?\`KEQI,ZN\<\\R:[;V9/.1>W:SNLC$M-D;
M2UQQ^[*>C%W"GL:MM9QSL;BQNIY=^1DQ%RD_.QEC.K)4F7D8"-LDDU:2EW,Y
MF&D@#9K,/%'8KM*ZP3?:.,EM4I4]&2.SX`\NC7PH;(U8\VKQTM'+[M%K/;M*
MQ6]8JA6""U]R5ME'LO&S=U/L$3:XY*'G-3MJU-0"D;#3\7>M<Q]GEW6OX^77
M>NFJX;2BUFE3'*97-P],I@OKVEW&[;7*$W'K6U.UBM8=6IW!_.<C[Q7+=48+
M:".JZVK7;@32&K75KLU3<QKW>EWJ=2@[O>V<Q#.ZW1H24;I+/SSZ\:(BAI2Y
MO%M)U>."F+8E+'7`;F^[V3LRR+F8((S\[VCM@EI%A>(-1CLC5O)#0E%I7%3C
M@T(J^8R:#+15SC&23<;+$P--JJ&M&\Q5I!<UI$@"=JF%_P`>33N^?J0KKWLZ
M^?\`K/6%JAZU5O0P/#]D#8[7KEGM/7X);SG>*E$<P7,NJ^FSSZQ4]O-[#GPK
M$DC,["C%*KLM.HMV-P(O$G(Q<B752W_\F6"?V_X6".X?';B'1-5_L);!73V6
M;96IM&6;0U97V'?XZXV"$U1=+C7[T^H]F<5J.C*=+R4?)4ZC-R2$.T=D@D*F
MQK]?L4I`D>/IT4;;E9-SAG$3J72P5&`,`HU['=I7\1O!KY+=^?CXP6FCNU>)
M?H/8[M*_B-X-?);OS\?&!-'=J\2_0>QW:5_$;P:^2W?GX^,":.[5XE^@]CNT
MK^(W@U\EN_/Q\8$T=VKQ+]!['=I7\1O!KY+=^?CXP)H[M7B7Z#V.[2OXC>#7
MR6[\_'Q@31W:O$OT'L=VE?Q&\&ODMWY^/C`FCNU>)?H/8[M*_B-X-?);OS\?
M&!-'=J\2_0]9:@]H^X507<<@N"*Z[8W?;++<)=[JJMS=2F[R"A^>QCI&[Q2F
MZIB4>I2CUZ@&!-'=J\2_0]GV.[2OXC>#7R6[\_'Q@31W:O$OT'L=VE?Q&\&O
MDMWY^/C`FCNU>)?H>NZH7:0/4P1><@^"3M$#`<$G7";>[A,#E`0*<"*\]CE[
MP`8P`;IU`!$`'S'`FCNU>)?H><*;VE0``!R,X,@`````<+-^```'D```<^.@
M``>X,":.[5XE^A_?8[M*_B-X-?);OS\?&!-'=J\2_0>QW:5_$;P:^2W?GX^,
M":.[5XE^@]CNTK^(W@U\EN_/Q\8$T=VKQ+]#P>PG:1>D^F?Z0G!/TL4?1Q=?
MZ$^^/210[W?\#Q_]/;Q?![_U_#[W<[WUN[U\\":.[5XE^AY_8[M*_B-X-?);
MOS\?&!-'=J\2_0\#BB=I$[*0CKD)P3<D35(L0CCA/OA8I%DA[R:I"J<]C`55
M,?,B@`!R#YE$!P)H[M7B7Z'G]CNTK^(W@U\EN_/Q\8$T=VKQ+]!['=I7\1O!
MKY+=^?CXP)H[M7B7Z#V.[2OXC>#7R6[\_'Q@31W:O$OT'L=VE?Q&\&ODMWY^
M/C`FCNU>)?H/8[M*_B-X-?);OS\?&!-'=J\2_0F+7<'RK852]MML;0X^6J\/
M8]0FLIK7>A]CT&J5N5&-D$T75[K%EY';)E[M'DESQ3M1A7[=K]RI&M9"/+))
M.G[:3CA#C)-<6GZ+U(=]CNTK^(W@U\EN_/Q\8)FCNU>)?H/8[M*_B-X-?);O
MS\?&!-'=J\2_0>QW:5_$;P:^2W?GX^,":.[5XE^@]CNTK^(W@U\EN_/Q\8$T
M=VKQ+]!['=I7\1O!KY+=^?CXP)H[M7B7Z#V.[2OXC>#7R6[\_'Q@31W:O$OT
M'L=VE?Q&\&ODMWY^/C`FCNU>)?H/8[M*_B-X-?);OS\?&!-'=J\2_0>QW:5_
M$;P:^2W?GX^,":.[5XE^AXEJ/VDKE(Z#CD/P5714#NJ(K<*=\JI*!U`>ATS\
M]S$,'4`'H8!#J`#]F!-'=J\2_0_J5([29ND1%#D1P6113*!$TDN%.^DTDRA[
MBD3)SW*4A0^P"@`!^;`FCNU>)?H>3V.[2OXC>#7R6[\_'Q@31W:O$OT/`:B=
MI$=PF[/R$X)G=(D.FBY-PGWP9PDFIT\1--8>>PJ$(IT#OE*8"FZ!W@'`FCNU
M>)?H>?V.[2OXC>#7R6[\_'Q@31W:O$OT/`K1.TB74066Y"<$UE6IS*-E5>$^
M^%%&ZAB]PQT#GY["9$YB?5,9,2B)?JB/3RP)H[M7B7Z'G]CNTK^(W@U\EN_/
MQ\8$T=VKQ+]#UE:#VCZRZ+E;D%P15<M^OH[A7A+O=1=#KYCX*IN>PJ)=1\Q[
MABX$T=VKQ+]#V?8[M*_B-X-?);OS\?&!-'=J\2_0>QW:5_$;P:^2W?GX^,":
M.[5XE^@]CNTK^(W@U\EN_/Q\8$T=VKQ+]!['=I7\1O!KY+=^?CXP)H[M7B7Z
M#V.[2OXC>#7R6[\_'Q@31W:O$OT'L=VE?Q&\&ODMWY^/C`FCNU>)?H/8[M*_
MB-X-?);OS\?&!-'=J\2_0>QW:5_$;P:^2W?GX^,":.[5XE^@]CNTK^(W@U\E
MN_/Q\8$T=VKQ+]"\N"HP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8!7OEK=[7K3BYR(V)1)3U->:+I79=NI4AZ)&R'A6ZNU"6EJREZOEV
M,G'2'I<VU8L_0'+!T#WQ_1DDA653$#P9*Q7%%3B<PMDTC9&_ZO9:@I>1K5^>
M(T&$83L2U;!7*QHWBQ;W%`J4W$T=NK==L['L6XM@S6O*Q+%:EL'L%:(%K,QC
M6ON7+83$QPOU=^%KO(A>S<Z=G0U9;-D9(RT[2)OD,XMAEY"H5VV[,JM:T_RX
MN5">U"+<ZRL\&Q@8R>U+3H!G?6<:^;O+]$/JW.5*98+NDYD3L_F.4NG?.?2+
MDMV[M&']-3O:DMJRE-"U^S7"M5-U+;QCJ[%6=W6[CR\I,*G,2]CHT2QK"]UG
M.,-<910M5;,SBB;FA9B7>)0%8?R4H(V?D?[??\$Q/N7@#KCD+:'D"TJ#O4D\
ME2X2<3E$KQ4I&2L]K>T*F7E[8(M".K+6B)3@QTU<UGEA9R>OZ\C//=AL*BQB
M4I&2$1A\WQQ>5HTDR'!W?UBWSJET[O#N-5V!4)882YLBRD4M9(R8=)FD7,=/
MPL+7:Y%,F,.\6>UJF6Z);JU_<=0K\3N:I>'4+Y`"H#4?/G3%8.Z+H8(&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8!5R&Y)I3$5<[^-<BHK3M"VGLK5MAN,K:7R=I!_JR;G]
M?V"1C:(SJ+T)$)#;D`M1JW$HV8)6;8.V-F:M^KMO"*B8\I]?+/\`R8=?F]HI
M*6<5]JIL:8GF2Z48^B8#4^PYU=E9EK]L?5Z507<Q=>=1HV16]ZBV3`(M4'RS
M-=2IO7R+Y2*=1CY^$/XUI/D:19^5G$#:,'KJ:>RL_>8N>=M[7IZ2J52V2XD+
M7(&E:]K:6-3%ZM'M9M52-EMJ5ZB76,>"Q:IJ7,*_/-EVZLFW0$P[]'AQSX3)
MM[+FMH5*<;5%@K/LDF36;8N%UZVI7XJNRT`YX^1T/39-&7/%K0L[81Y-:@;Q
M$6[:-4X1W-N8*X'JTY"3$6P$0_G/V9:2J66+N=8KMOA`D2P]HA(NP199B'E:
M]+%CYADB_:$E(&=9Q\W"R!4%R%>Q,NP92<>Y!1H^:MW*2J1!!G\`8`P!@#`&
M`,`8`P!@#`&`8OUW#>NAKGK:-]H0BPFQ@O3FWK@(878L`EO5OB^F>K1?%%F#
M[P?1O2@%OXOBAW,`\J,K&N))]#H/FJLK&M6#V0CDUTSO&325.^3C7+IN4PJ(
MHOE(R0(U44*4JYF3D$Q-X1^@'OX!AW-A@6<Y%5EW-13:QSK"7E86!7?M4IF6
MC*^K%(SLC&QAU2O'K&&6G(5&5=MT5&\>K+Q:;I1([]J54#,8!H&T+XSUK1IV
MW.2).G;1-I'5Z)45%$]CN%@?M8"F55H<I3F].M%JDXB`9`4AA])D$C&`"%,8
M`.9(\X=@+P^L8][9:M`;#AXG8](WO!+0[***VVQJ?E)P_P!.R,PP@9UP]FJM
M7[W1MRV*]5J`DWSN195:]TQ=XZ&5CA74%HQ=XRZ5-3OM#YDS;>Y);.I]RWHS
MB3QC"5U1>N.U9U5J9W'LUI7?\%M1:E#:9]FLN`3RI9"2LMMUU2757591]3N&
MLYVPV\EJA#.X!F"2<;YOI'^+[GS(/KG:8/HHL):]B5NGGJU]@=,^A1=<V%&>
M)K.YW_7MNN<TRL\G,UZ%0+1:\A491Q?KI.OXQ;7A8Z17>0CZ):/W<:&SU3?1
M1AOO;74O+QYY!2N]W>P$E:7`55KKN6K%9ES1^S(B^O%[+8=7ZYV>8C(U9AAK
MSJLI1VP4F,996EF=#-*12CM*):(NA(U$-1\WM>A9K!`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`B*2T/J27/=?6-,9N6FQ5'KJZ0POYE.MSTK)
M1:4+(6)S5T9%.NHVQY%MV[-S;V<6VLZJ3=`3RPG12.4)?3`AO9>D-%QDYJ]B
MJ29I,_>]M5)K&2%;7N"TA<;!0TMR[L;PTW8(^0,X@C/W<WMBW25L>/V#^7GY
MR5*\DY"7GDT70F_S+!?P8W3==X?;0852PZCIL0I'^*UN570BHN?KK"K%@)"C
MR\?)QT&"K".IS6POX*@V`T8R91I+P\@(Z7F(Z6?UE^M%@Y6/GK/N^IN[?AMQ
MJ:QAX=OK!FDQ%L5HB!;#<!=1Z*+'6,='>J)$;",C"JP#72NHO99Q$.F3BIN-
M:4A[6E8I[6XMPV"7K\^3QEZEC(F+80<7'0T6AZ-&Q3)M',&_BK+BBT9HD0;I
MF7<J+.5SE23*!UW"RKA8_559514YCF$&0P!@#`&`,`8`P!@#`&`,`8!2'8_&
M?8=MW"UW=!WU"&M":=^UL[BBOG$<P6X_777H1)JK'6&$KK2Z0EK:[8AJ=MIK
M)-IU9E$2$3*QL1X"LRI*(B9M'3CKOM;ISC&=XF\E%T4THG>48L=NTI235Y(/
M[/"/$G](F-ZRK*=385%C%4>.FI9GL2A0EE&NT:"@GSVGKVNMUZE@TK]58B96
MFNF<9M/?OWD@;<XW[IV%N![<(C9D="4%RK34AK+2?O4._?14)LWC9?I=E)^@
MKO&P++1NF=D5)J$2ZC()U"[HDP7KK&29W"5V4(E1A\O[_CIBM`\5]NZTV51+
MEL+8T'?VM%H,U2XZ17<V=]:DX^=U[H*I*UTCF9!5-:%CK-I:=OB$BN\%V_D=
MHS3=Q%MI*.D;%;@;MA%_?WCETZ`X(&`?A11-%-1990B221#**JJ&*1--,A1,
M=10YA`I"$*`F,8P@4I0$1$`#`*,/>;=:4>V]2'H;N4BZ1:K!"'M3N<9M(1W#
M15*T9<6K]H^91DRLSL-S:;QB5JA3'J+9Y*PE/N,G)2$1(1`P)A,?XYORB[R+
M@4JS1UVJ4%9XY6-<LIR.2=":*>'DXKT@W>2D$&,BJRCC23-N^3<MD7YF#,'R
M:8.0;(E5`@"#:@`````.@!Y``>0``>X`#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`0_MF#K#Q]J*TVBT%JZ6O]O5^;@C*))J-IZU6^"L^
MGH*LN1.`G3":7V<HV8F;]Q8)KU68R@M2N4'`:[_\^AJ:W&VK?LAT/8D9.S]=
M>4>8N4F$%7!8PE=FVUJ]5E91#^,8-444(^MI19TH]%D5!-V:Q7=](IN)2YS;
M]<3/IQM\Z%C,$#`&`,`8`P!@#`&`,`8`P!@'.W;6M^0,O=]VN:^C875ILFS.
M.TMQKV!'3K1I6M5ZYK7['1-J0LNW4EFJT:H6P16U+-?HX(E?]E^DW:K41-2T
MEA5X2M"RBW!SO=X]%N<L@^DD[0:D,FMB-7[S:K78XK5<?M&.LA-0R)CO8;5E
M-8;-NM/09S]<@?:UE8(BT,Z1!H3$+3K(_<L#6&/.5]Z[8A]/#&'?5Q-M(Z$S
MVNN\LKKQCYHUFS/;3-;&D]0W"CZ`CXZ#H&NY"R3DOQMJ7JFW1[BNV>:&JW!Q
MO*2ND9WGNP48FN*QK"0CCL8I"/F%@M*TF_7V,%8(GF-I&1/%Z5K\_MJ!M*ML
MV&^9N4J3`4ZFO974^R&,%J^APUWV*\L=:9QFQJIJ27&.=V%.K>N;]<%6[QG7
M)!ZTUP%GC;!;\<7:,)/W=:CR)O6R*@#Z&V,;6;B1JDU9UW\;K.(FY&,+K?FL
M7V8N<9!24M&R"%5M<KQE!OZG2(Z+9YKVI9C'NX23&DB+7^9K#\\B?.,$GR"?
M,46&[JE,4E>!I]3C2196M"<4N0='J%*<>FUR7@K+*6]*6CI<;="VN)L$>2*2
MDFI!KSH\*VBI>S@XR<EN<$'X433634253(JDJ0R:J2A2G343.42G34(8!*<A
MRB)3%,`E,41`0$!P"M[G5'&IM-V/2AM>55@XW'%V#:-JID?!N8VOW5A6X.FZ
MDFY65;QR;:!<^JXB9ID62*.)`;/%(^R-&))IOZX3$WZ?R_<L%$Q+"#8(QD8B
M9!F@9<Y"J.'+M8ZSIPJ[=N'+MXLX>.W3MVNNZ=NW:ZSERY65775454.<1!D<
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`PSNQ0#`1![-Q+0Q
M?>1Q(M$C]?S=PZH'$?U`41_5B")2Q:*:\O=NZVC:7KMF]M\4BY'DAQ7D`2[R
MZHBS8<C-:N7C@#(H*$$B"""JA_K=[ND'N@(B`#;9JT)52EWRJ_ZLFG_2BX^@
MX4:GVO5$5TE#)*$<.EVW<4*(E,4QEVZ9`$!`0'J;ID_Z=?=97:IU\S;HC=&H
M)\Q$X;:.OI%8_0"MVMO@#NA$?<`M/3P<@(]?(!2`<C9J6--71D[2U74DA)5)
M=,BR"J:R*A0.FJD<JB:A1]QB'((E,4?L$HB`_GRI)Y,`8`P!@#`&`,`8`P!@
M#`&`,`I%M/96]FF])2EZPD*+-PRFKY9O#04?98"6G*ELUH@UGCS6W::^K<=+
M0E<<U25:N*0^:;.B(B9L*<-`V1E#LK8RLC03:%,Y\U_GSY&X<9]US&U%+]&S
MA9AVZK5D!LQD745!1S(E?6K-1EZ^94T:[2D7KRQ1L^E8TI>1K55:2:[B981$
M(Q:UTY#@\O><VO3?Q-EVD3<E'LJ6U-<&D=EU1&+:QNP-"G-%-Y9]',%W2X77
M34T\&/2:[!:H.U$)>D6F4"JW^/9QC>+EJ+8F*\C9@48='[[OER5M?[`J&TJC
M$WFBS*4[6IHKLK5V5L]8.VSV-?.8J9A9F(E&S*8K]CKTRQ?P5EK4ZPCI^MS\
M=(P<['1\LP>,T1!N6`,`K'?!"-Y9\=)I<0*UDM/\FZ`D8P]TOK:;G..U[:@)
MA'IU"*U=/&`H^8E`YP$`(;J)R?%>I/CJV55D82/;+7VAB^1BNIF.;F#^4%7)
M!#_B&3#T?0K*U74P:^U-8-5P;.MCT-LY,4#E;KV^O(KF(81*4X)*2)5!*)BF
M`#`7H(@(`/4!Q#T?1B5JNJ-DB[%7YP.]"SL/+EZ=[O1<FRD`Z>_KU:+K!T_7
M[LB(Q)F<#,8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P#2;'L*KUGOI/7P
M.7Q.H>KF`%<NP,'\%7H8J+8?=Y.5DC"`]2E-EE2W[E74EQT(1F]W3KL3IPC)
MK$HCU`JZP`_>_J,'B%(T3ZAYB06R_0?(%!`/.RH6;^?.!1UO)$7R=FL,P)AD
MYF1>%-UZI*.E0;AU]_=;$,5N0!_,1(H9=)+!?.)5MO%_.!@\D@H9SJ2Z5_5J
MWZ3<^D4NO\UNS7AO_P!>-_\`O!:G%_[:_P#I45KL7[O3'^\7?]\?-U@N"\BI
MALD&TUN\W2FK@XJ5MLE96`W?[\%-R45WA^WQ"LG*)52F]QR*%.0Y>I3E,41#
M(=*>*3Y`MA0N>^]:D9%"P/(?8$8GW2G1L+!-I)@B'O*A,PQ6*HK#_P#V)-O*
MCYCWB&^KW<WV-#PE</Y+*NI;^/R2_FK.>&F[Z=M'691UK6=7$I/"L2J;BO*K
M&Z?4;V9N1-NB0//O+33.%2]Q2G.80`<:NRJIEJZW8]/:2ZK3QL74;.6SUNB[
M9N$';1RD1=NY;*IKMW"*A0.FLBLD8Z:J2A1`Q%$S&(8H@)1$!S(N>?`&`,`8
M`P!@#`&`,`8!^>X7J8W=+WC@!3#T#J8"]>@&'IU$`[QN@#U`.H]/>.`?K`&`
M4E?[!H_%[?.R&NQ;7!4?5N]H#]FJKR]@D&\=%L=I4AO6Z%N"MM5%SHHHKV:N
M+ZEN=9KD<DYEK)8OV8+`1!PLF]4PDVX2;;TE_P""7A+RMUEKU_!3W=/;+ZEJ
MZCN*TI2)S9T@F*B2=DGU%*;4N_Y@1RS:KM7=GE4BB'UV[N,KAC@(>&ZZ>>;+
ML*G]S2_+]ORS)UZ+K\]BG>N^TSY+;AVDE7K!8X*HUZ;C95&.@J3!-XI%M)-D
MRR+=8)J25E[(90&+-ZW[GKHB"JBX'!N"I4>YH^RII4I3&OMA^"KJJ><</DF\
M;%:VK8EIU?9I>W2SY:@7*7LCP)E_(RJTI'RVNKQ3%8M!5RZ.#8WK*SQ,N=4P
M'(9.&%N!`.J0Z=(7K^((G&9<J,=Z?E/4V#)(*5\A/W\M?Z.L/^=D\UHPY^B!
M!Z2RK=0BR"JB*R9@,FJD<R:A#![C$.00,4P?8)1`0RX)II_)+?M".D-4V_L"
M,11Z"G'J661DH<.[[N]"2RSZ(/T#R_;&1OJ_5]WEE712\:5TOUQ)3:P9=/6_
M:I[PK1T&VQ*]5=E1Q1*"[HC?V/L:@!T`PE?1"*T"'EU-W/9@!,?_`+4I1\LZ
MNQI>#:W8K\W+*M\3I5IWM"N.NV#M8Q[8%];65R)$RP]]!O&,5W!NA1(PLR*Z
M\`J4R@E3;D?O(M\Y,8H)L.]U*&-795TWB5N]L2ZK3W%XTU$UDTUD5"*I*D*H
MDJF8ITU$SE`Q%$SE$2G(<H@8IBB)3%$!`1`<S+'[P!@#`&`,`8`P!@#`&`,`
M8`P!@&$GK#$5ID9_+NR-D?,$D_RW#E0`Z^"V0#ZZR@]0Z]``B8#WU3II@)P)
M-X!M+$K%;MLSD\*K2*,I"Q1N\7NHGZ2#DGNZN'1.@HE,'O0;"4H`)B**N"^>
M:JA+&[_!DZV\+$3B(B(B(]1'S$1\Q$1]XB.7*#`&`,`@G>"!5&E=5,4I@2=/
MRAW@`0`QR,U2B'7KT,4R`&*/O`2@(>88!SNL7[O3'^\7?]\?-U@N"\@8;)`P
M!@#`)XT[R/VGI-VE[*SAW=?%7Q'E0FC*OZZ[`QN\J*+452*Q;I0?K&>Q*S-P
MH8I`<&<(@*)J544U8J^N?\\R4VL#LUH3E7KO>B"4<U5]F+PFB*CRGRKA,RZ_
MAD[RSB`?=U%*;:$`#&.5-)"1;D(=1U'HH`1=7FK[.JC&ZU7J:TU)\=/8L]F9
M88`P!@#`&`,`8`P!@'Y.<J93'.8I"$*)SG.(%*0I0$3&,81`"E*`"(B(@```
MB(],`Y?<]^>=GXX5Z'9:II[6P2MJ/(1R>PIDPN*G6G[5,IO1$8IN=-Q,3*[<
MZKN/,\<,HCNM5%B%FTT'C1';L^SVG]5EIF_G4SJKR74^87<]^O\`R"M45=ML
MWBS6VT0DV2<B9-\_*8L8IZ,]8.HZ+C?!&)B85_&24C'.8N*8,FI6[U51H1L[
M*BY2Z%32DDE$7_$7Y,I+OOL_/SN:IEB#:J-8#52XUBQE,8I8:<C7ZX%Z]3M$
M728O$?+SZ+M!61,`>8E.(!D-2F@=M"F*<I3D,4Y#E`Q#%$#%,4P=2F*(>0E$
M!`0$/(0'J&8`_6`4KY"?OY:_T=8?\[)YK1AS]$""\N!@#`&`6HT)S%W;Q]<-
M6E:L2D]3DU`](H=H4<2=>,B)NJ@1?>5*]KS@0$QBJPSAJ@=82J/FCXA?!-2K
MLZ:L;/5?+DJIK#H=Z^-O-#4W(YLC&1CH:EL(C<57U"GG*(/E13)WUUZY(`5%
MO9&*8%.<PMDF\FW13,N_BF:(IJ*<M?9U4;UK\P-54GN>A;W*%A@#`&`,`8`P
M!@#`&`,`8!HEWOD;36@`?NNY9P0191Q3]!$/,H.71@ZBBU*8!`!Z>(N8!31#
MZJJB4TJ7ZE:G"WY%0IR>E+&_4D99T=RX/U`A?R46Z741*@V2`>ZBB3KY%+YF
M'J=0QU#&.;9))0C)MMRS#Y)`P!@#`&`0WNI+K`12WZ.8*GU_G63LW_PX!S<L
M7[O3'^\7?]\?-U@N"\@8;)`P!@#`&`>RR>O(UVVD(YVY8/V2Z3IF]9KJM7;1
MR@<%$7#9R@8BR"Z*A2G252.51,Y0,4P"`#@'7WBGS63MJL;KC;[U!I9U1295
MVYK>&V9V)4>ZFA&SG0"(,YQ4>Z1H_*";26.((+%;R0I&D^;M.RCZJ;K-:<-5
MY<,-*:\GU]SI5F!H,`8`P!@#`&`,`]&2DF,0R<2,BY3:LVQ!.LLJ/0`#W`4H
M!U,HH<W0B:1`,HH<2D(4QA`,8V0;B[*EWO94C:E%&+(58^!*80*V`W=7?`4?
MJJOS$$0$H]`,1J4PHICT$XK*%*H&U-,7Q?D8U5-\/F)67<&KH#<FO;#0+"4"
M-IAJ(L7X)E4<0TRWZJQ4PU`1*/C,70$.HF4Z8.FIG#)4W@.50&Z<-,J?,[=Z
M9/Z\ML_2K.T%E.UR27C7Z/UA3,=(0,BZ;',4OC,GS<Z+UBX`H%<LW""Y/JJ!
MFR<J0:KD@8!V.TI8_:G5E*EC*>(X"&0C'AA'J<SR%,>(<'4^T#K*,A<#UZ=0
M5*8`[IBYA59L$I9`*5\A/W\M?Z.L/^=D\UHPY^B!!>7`P!@#`&`>VP?OHMZT
MDHQXZCI%@X1>,7[%PLT>LG;=0JK=TT=-SIKMW""I2J(K(G(HDH4IR&*8`'`.
MX'#/M$T[&M%:LY`23=I.JBC'UG9;D4FK*85'NI-HRX"`)H,910W=3;6``39/
MS"5.5*U>@9_(<W:=E$U4X:::P:4UY/K[^YV%S`T&`,`8`P!@#`&`,`8!I-YN
M;2G18N#`1>3=`=.-9";_`/E5``[RZW=$#%:M^H&5$.@J&$B)#%,IWR32I?F5
MJJCCD4SDI)[+OG$C(N#NGCI05%EE!\Q$?("E*'0I$R%`")ID`I$R%*0A0*4`
MS?"R,<;LQ:CANBHW267125=J&1:IJ*D(HY6(BJY.DW(8P&64(W077,1,#&*B
MBJJ(`1,Y@`\V`,`_@B``(B(``!U$1\@``]XB/V`&`>JP?L95BRE(MZTDHR2:
M-G\=(L'*+QB_8O$2.&CUD[;G4;NFCINHFNV<H**(KHJ$52.8ABF$#V\`BO<*
M7B5(AOT,LR5_DZI.D?\`Y>G_`!P#F98OW>F/]XN_[X^;K!<%Y`PV2!@#`&`,
M`8`P#L#PJY7JVDK#3^RI(5+&W1!O2[(^5ZJ3[9`GU8"474'JI--D2=8UXH83
MRS<@MES#)HI'D^;M>SCZJ<,UIOX:[_QI15D^7M['2_,#08`P!@#`&`>J]>M8
MYHX?/5R-VC5(ZRZR@]")ID#J(C]HB/N*4H"8YA`A`$Q@`0PNRG%]O3RXR`@0
M5&\*T4-ZO9"/03>\OICH`$2G=*E$>Z'42MTS>$F(B*JJVU-,<3&JK:X?,30,
ML5&`<TNT(X^>UM93W15F/?L=.9@VM[=LG^VRU23,8Y)0Q2!U5=5M0YSKJ"7O
M&A%G*BROA1+9/+T50XR?F#BIFH&`=$^&EC]+JMIJZJG52%F&\JW*8?,&DTV%
M$Z:8?HTG46JJ?H'U3N^HC]<N95JZ>OH"YN4!2OD)^_EK_1UA_P`[)YK1AS]$
M""C&`I3&'J(%`3#W2F.;H`=1[I2@)C#^8I0$PCY``B/3+@UJL7"OW%DC)5QX
MN_CW,?'2K1Z>,E6#5]&RQ%E(Y^P7D631-^U=IMU3IKLS+I]P"F,8H*I">$T\
M./7`EIK'T-FR2!@#`&`,`[3]GWS?747A=![@EQ5\7P(S6MRDEQ%4%/))G3)Q
MVL;JH"GU$*R_6-X@*>'!K'."D8"7/VO9XU4\6O5>II35D^7L=J<YS08`P!@#
M`&`,`8!CI>59PD:\E7ZGA-62)EE1\N\;IY$23`1#O*K*"5)(G4.^H<I>H=>N
M,;(-Q=E(+-8GUHF',L^-T,J;N-VX&$4VC0@CX+9+KT^J0!$3FZ`*JIE%3`!C
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M"2K)AZ)&S5:^&]W_`!;0;5$-1BNZI5N-Y:3W8'N-='\FXNCEC2;:"=L?LOIT
M7B#W9-\B22%MCHZDU_=T<TO):W.R<!7IIA0DK)1IQM3GTRG:[YL'UG%1+.3;
MKISLU=[3-\[C:HG[<ZLE@Y=-I5U,.ZLE<N?5XY]#UFNQ$F_=RLE%P41'2$H_
M>^LWTD^8Q[=L[?O9+T&+]8.WBZ2CAR]]61WI:RAU_06GB>CIW1FS6-J)>)29
M,WZ%:.5_^\@V2_\`EP#EY8OW>F/]XN_[X^;K!<%Y`PV2!@#`&`,`8`P#V&KI
MRQ=-GK)PLT>,W"+IH[;*G0<-7+=0JR#ANLF8JB*R*I"*)*IF*=-0I3E,!@`<
M`[_<3.0"6\]?E"761)?JF5M&VMN7N)B_*<ABQ]C;HDZ%*A+$14!TFF4A&TH@
M\2(DDU,S\3C[2C8?]KP?I\R-J:I6_,M5F988`P!@#`*K[;O!IA^>NQJW^JXU
M80>J)F^J_D$AZ&+U#\INS,`D('Y*C@%%?KE(@<-**<^GSY8RKJRR^?.)"^:%
M!@#`/"X;H.T%FKI%)PV<HJ-W#==,BJ"Z"Q#)JHK)'`Q%$E4S&(HF<HD.0PE,
M`@(A@'SI<MM!KZ(V>[91R"OL-:1<3=+=&[QR(M#*AZ?`**FZB9U`.%B-P[QS
MJJQJT8\6-XKI0I-J7*WK$%6LL"S'$^Q^I=K-XQ13NM[1$2,0)3#T)Z4W(66:
M''__`$$8]5LEU]XNA(`=3AE:_MX?X!U(S$%*^0G[^6O]'6'_`#LGFM&'/T0(
M*-WA*;NB`&Z#W1,43%`W3R$Q0,03``^8E`Q1$/(#![PN"L['CDUCJ?3:VVL#
M!:2J6OI.F!,RE:7F&KV46@6<1!V9&"DK*Y:QAX)TS"3"+;N%4W:BAD4GC#N)
MKESV+)3=4Q,3E"<-Y8P7VKU./N<V<9S$QRGF8M3C9+"Z]8M]A-&LFC)+/6CE
M.GN#IE8"\V>^1K3TBUP4</JRL>_Q#*8BA>($E8FGM&0*,U';9W#MAZQ&%N-G
M>ZO?6$3MKN\;_P"VZM9_2[ZO<2=3=6GJMND[2M*1;P'S`C-C'Q\+*Q"<&FM'
M5QI)1D40]KDXI&M.GM<1FFL6>&/)L)-Z],$^X;+&;FLJ8<^G"5PE3ZQ8JZI2
M6G"]V])F^L.UB7\L5&`,`]Q@T>O722+!-51SW@,GX74IDQ*(""HJ`(`D4@]!
M\4QB@0>@]X!Z8!]+'!KD,_VO04:1>Y1-[LZD1Z"3UZ<XBM:*^F8K9E.&,H/B
M.9)D(H1\\L(=5W)VDD<WB2:B2/)VM&RY6#_#T-:*IL\47LS(N,`8`P!@#`&`
M5AW/:Q>R"589J?\`1(TQ5Y$2&\EI`Y.J:)NGD8K-$_40Z]/'6.4Y>^@40THI
MS?+W,JWDL,^)!N:%!@'/.VSO(VM[:MCFI(VVRUB4M%56933RJ;'7;T6M_LVZ
M.J]ZJKRAJ*'HU^9/-=.+S;Z/L+6S^%LD176=EC[36Y&<,:W&I>7CCOM=99VT
MOC)HMF%@K;KO9>>5X33M@T\CU@W_`,N(>)J[F3T^A9Y:>UE7;N]BZ]IW9\&,
M/8WFLN0\[9J*[=2%QG&329@=@4/3,`T0EG46\F&NPW#)LS!=]'S<2FK2;:-:
M^7YR&S1?ZHAM)[2=IIAV6:;PP@\]RW=REK`VF<K=-6OD2O`^FTU@3CYMF'6.
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ME4[3EJ%A+USPO&:2>Z8DN7K&Q2MLH%3L<ZW<-)J6AVSJ6:NJC::(LVD1`Q'B
M'LG=DT;7#IHN"*)()3B*#QRB5-[X*2+E(A;+!3[%&H;7JG^58\^Q$_%I<^7I
MUZ-4E/ZEVW6Z_P##N=<D@Y66+]WIC_>+O^^/FZP7!>0,-D@8`P!@#`&`,`8!
M-.@-NR&E-G0%S;&64B@5"+M$>D(_ZRK3Y1(LB@!.H`HX:]Q*2CP,(%"09->^
M/A"H4U*Z=NEK/%<24X<GT=Q\@REH]C*QKE)['2;-M(,'B!N^@[9/$2.6KE$X
M>1TET%$U4S?PB'`?MSB-SW,`8`P".-G6P:Q7CD:J=R5E>^S8"4>AT2=T/2GA
M?M`6Z9BE3,'F5PL@;H)0-EJ5+W+$K4X6]X%-LV,1@#`&`,`@/DCI*-WQK"7J
M*P((6!H!IBG2JH=/5UB:)*`V(JJ`"8K"33,I&20=#@5LY%T1([EJV$DIPY!\
MV<O$R4#*R4),,UXZ6B'SN,DV#DGAN&3]BN=L[:KD'\E5!=,Z9PZB'>*/01#H
M.;@R50GE*O:J[8TA-WH2:C9,2E]ZB31VDLLCT^TJZ)5$3E_A%.(?;D-2F@=N
MDE4UTDET3E4163(JDH0>I5$U"@<ARC]I3%$#`/V@(9@"E_(3]_+7^CK#_G9/
M-:,.?H@07EP1M=8:7?66A2\;'NGK:ON+8XE#,7<>T>D1?U&3CF;=H9^\9E.X
M=R3AH1#]L!NBJ0CAVLW22!4(>*<83Y>I*S6ONOY(3/I2?CZ6,=`()JN6069M
M7(6?0K2!&T5*$;RZ864*VG'1\A87LI'$K[J:BY!O+.X1RQ<R-B,_1FW<K39M
MUM;C>(N\+7B)=G-]J]]TXY6M,X*]UCEA%I(E-ZE'-4Y`P'=$(8IQ[J!#@F"A
M_1RK%:E(T!R1MX1'0M"$:"Y*J+4A4!3*&BP^?/F",S(X`P#98&L/IPX'*'HS
M$INBCM0HB`]/>1`GEXRGV#T$$R?PS@/0I@)GBH=C#M_`9)`7KT\58W0RZY@_
MA*J=`$?>/=*`%(3J($*4!'`)1UAL.=U5>J[>Z\H(/X%\1=1L)S$0DH]0!1DH
MIV)>O5K(LE%FJH]T3)>(5=+NKI)'+6JE5)IY_C>2G#D^DVF6V&OE4K]RKSCT
MF&L<6UE6*@]WQ")N4P,=LX*4Q@2=LU@4:/$.HF0=(+(F^LF.<333:>*L;)RI
M-FR"1@#`&`,`PECF4J_!R<PMW1!BU.HF0P]`5<&Z)M41$/,/&<'22$0\P`PC
M]F2E+2(;A-_-Q1%RY6>.%W;E0RKATLJX75-YF466.910YOUF.81'^7-U:Q@>
M#`&`,`Y]-N<K*H1%J?[3JL@X;5&V;S2G+)2(]FA#QE-UONWD-K&L'"%E[9(3
M\K9'T7HP'$X#($8]22FP<L$V;4IH]M3;C'?AN;7H:?Z<Q&<1.KII;R7>L9J%
MYCC&2]U@KU4U5Y2$OCB%ATJB\AU4'$&^FWL)`MDW,I.(MI.9(HQ3</WA7,;'
MN&[]-R1&.!!1J6-N[E9Y/+U&Q90\LUGZ&0K_`#)+:;-%5VNZNG)I2R6*(J%?
M*A-,822]H%(/=\_94;)"W5K5)>K$KC;1UBCG<;*,"6=M.KDAIROP<BV>-F\[
M3>6<8\=5N&Q"EN%$X;Z5DW/W*\\)+%ZBVC&[AIS6[PL7(1<2].BW;I2GAD>E
M?H1S`UCBGC=,1%E*5"T*S5%L3!<0<,+35IUBJ0@M@[UDYO\`/F12I;+AX_/-
M76YDH9)!K=Q2\6J6,GOZ0T@I_4ME%?L_\'E@')RQ?N],?[Q=_P!\?-U@N"\@
M8;)`P!@#`&`,`8`P!@';KL_MJ'N6JWE$DW(JS.MWB3-IXA^\JM5I85W,./4P
M]X_J]TC)1@%*`D;,D(Q,1#OD#.7MJ8JG*KS5GZ,UH=HT]2^V8EQ@#`*7;+L0
MV*U/E$U.^QCC#&L0`>I!3;',"ZY>GD/I#GQ5"GZ=11\$HB/<#-J5"XW,:G+W
M9&@98J,`I3MC=NSM?;@2KJ2#)_JJSV+1-"0LD)#FDK-JV_;&O[.!+[8-`.[;
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M;-D_JI.!!-G#6@Q2AT`KGHC#2BG4H`X")6`AU'3Q8-**LGR!R=S0'831%C]J
M-3TN0,IWW#6*)"N^H]3@X@U#Q7>5'](NBT1="(^9@7*8?,<QJ4-[[]00/R$_
M?RU_HZP_YV3R]&'/T0(+RX&`,`8!^BE,<Q2$*8QC"!2E*`F,8PCT`"@'41$1
M\@``ZB.`277J,)NX\FRB4OD9./`>AC?:`NC%'J4/M\`@][W`J8O0R0@2B0A$
MB%33(5-,A0*0A"@4A"E#H!2E*``4H!Y`````&`?K`&`=:>SEVP=TPL^G95R)
MCQGB6VIE5/U$&+E=)O88Y'O"`%30?+,I-!!,!,<\A*KFZ%3$0Y^WINJN3XY/
MTZ&E#Q7,ZCYSF@P!@#`&`0)O.9%)C$021^@O%E)!T4!Z#X+4/!;%-^<BJRJI
M^G^VV*/V!EZ%>=/GSB9UO!<RM6:F8P!@#`-`E:;48M@]E(K6M;F95KX\@RC6
M,'6F3V0E#O'DD3PGT@FT:-7#B5D7S]9\Y<I^&Z?/GYS'<+K"K$+&$WR\R9>$
MM+GY%52[;TA'P]#*3CZBUD92!OLNWKK6E4A5&FGJCYNPDFYG\<+B.4CK*O7T
MIF(G:WZPC)"GP;"W/CM8]2`*]IM4V^E3I"M\\KE]FJ7]6EY=Y^7WVUB:]>RV
MK-G1[!Y"5"-K4@>G5Z49HJ1\-`7:MI3<3)K.(]D2.$LU!OZ>K:96%?2<8JFT
MBK3*6>$:/2R[*=1)90\%%L;3?3AA.MBKE8N;W5VK?B^/"^9,U?@8VL0[&"B$
MEDV#!,Y$S.G;N1?.5EE5'+Q_)23]9S(2DI)/%G$A*2L@Y<R$G(N7+]\Y7=N%
MECVP*MS?^/(S&`8J=2\:$F4??XL5()=/S^(T6+_[X!R-L7[O3'^\7?\`?'S=
M8+@O(&&R017O"UR=&U'L&X0SQ)A+5RLR$K&NEDV:J1'K4@';)G2D`%FH#A7N
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MOWLG#V=J;_\`'\YPQ`<MF,VTJAC52+925O=U-&,9J7MB9J"-L@-2V-L0[U6%
M;./63.+VBN[<M`CO0?`I\N!);TQ_$LG)5S%L8SU2>F_=@2Z(F^">6CJ3Y?3C
MOW,]R]\B25?>$/0TY.":5YHNR@+">:D&$*D2W2L?%S3>,?/WI'+I@U6JUDC+
M+7YWP&-?DY"MV:BIOY6WRL1&QL.N*DIM@\+/&_)J,GAB0J9I;B<];:VWJ&L5
M*>!;C-"@P"W'"2_FHV_JPU67%*+NZ3FE2!1-T(9:5\-:$$"C]451GVD8W(?R
M.5)RN4H_MABFS[6F:'JK^_X+4N*EOM\YG?C.,V&`:I=YH:_5IB2(;N."-1;M
M!`>A@=NS`U;G+^<4E%06$`_@IF'J'3KDI2TB*G"=X*-9N8#`,18)R.K$%-62
M86%O$P$5(3,FN!1.9%A&-%7KM0J9?K*'*@B<2)E^LH;H0O4PAAVN%>Q7ZO\`
M)W34C5M?W"57>UB3VFQ%5O7EJS+3UA8V&OW6LZNL%2GUJ?&3[$MAIFU+;`:V
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M8OD3MW*)^@@8O?2.8"G(8JB9NZHF8IRE,`'S5\@M,RVB]FS=(?\`C.(L#^LZ
MK+*E``F*T\45]7NA,4I2"Z;BFK'R1"%*1.19N@2`4!1.?>ERO,%G.&-C](@+
M?555/KQDHSFVI##U$4)5N+-T5,/L316C$3G#R`#N^\'43FRE>*?SY<'[Y"?O
MY:_T=8?\[)Y-&'/T0(+RX&`,`R$;%O99P#9BB94_D)SC]5)$H_PUE.G0A?(>
MG7J8PAW2%,;H40)G@*JRA2E6-W73\0^LY.7ZJ0B'F1L0>OAE]X"H/[:<.O42
ME'PP`VG`&`,`8!+FA]@J:OV[1+IXQD649.MD)H0,(%/`2G>BYPIB_DG$L8[<
MK)`?J4KA)%3R,0I@K73M4M;K<5@2G#3/I3`0,`&*("`@`@(#U`0'S`0$/(0$
M/,!#WYPFY_<`8`P!@%.=M2(R%VD2`;O)QJ+2.2_5X:(.%B_J[KIRX*/\F:T*
MW$QK<OA;^2-<N5&`,`8!@K/7VEKKTS6G[J69,9V.=1;QU!2KZ#F$6KQ(R*YH
MZ8C5F\C&.A2,8J;UBX0=H";Q$%DE0*<IJ5!*<-/3F19$<<M/0MDIMV0IS!W?
MJ$SEV%;V#+%"6O+=K-1BL*Y1>6E^5>6DTFL,L>'B4)!RX;0T2!(N,1:L"%;A
M795MWS\9:$NNIRIA/%*RZ87SU-@K^G-?U>XEOD)#*-+,6LN*GZ::1D'!3Q;U
M6NK22JZ+ARJ1U*2IZC6324JZ!9\Z4B$ESK`Y=R2SV52EAP#J;4-VF8Z\\V2A
MDE1@'B73\9!9(?<JDHG_`/F02_\`O@''VQ>4],`/O"1=_P!\?-U@N"\@0]M;
M9T%J*GNKG84UEXYFZ;)KMVRK5)T9D3Q'TX];@[502<&@:TQF[*LQ(IZ;(M89
MPQC$G,FX9MEHJJ5*E_/\*Y-*VG'S1=7",?.[LUW7WZL4ZE7SN40GHBNJQ\7!
M3<BN$A,R>LXQN*2C>/,U=-TC;?H#M95FX<>(RFCJ,RNEH^10:G4E_";TT_W(
ME4M\TWCDI_5F-?\`('4#$Q0=6990RL6A-IBUJUMD07KKI%PNTLB)F$`Z*O5G
MC=N_6961(3P+Q%C**-9!4D<_%NVEA._!X:\-XV:M-V*QTX[L3Q2_(?4T1"2<
MVO//'#>);615TR;UNQ>L$WU18VR2FX%9FYBFXL;(S:42UK^HI,S&1\&%<N10
M*U\-<[:7GD\I<<;.PV*M,8_,0^%U?>8Z%NFH(F;GK`J]/$S:ZUM=/#.3WUS'
M),J]9O9.QR#)C.QC*)AW#%]&LSW!*#CTDXI(22LB]=PBR$Z\32G.=]<G#\K_
M`!B'APTS4Y8[IOEN,+M78FMDZW6=CO&Z$Q$MK-+4P\E-V2T:^A8ENND\=6$]
MG0,P_P!:0'C5)OZ2RF(5_'/FY6[UH1PU6(9S%34)XKFESZ:$TIRUN3M#X1OO
MJ9R6W]58RBGM3R*D(ZSA2@M"U"L#5W%3#"7:T,VS'%`F99*/DH6-N\;6"NI1
M>OF=KR"35NXDDVIHXAWA9VE&&4PUNF'HR%2VXWQ.6.S*U4YF2CM]402*H6.1
M1KLPG/7F'"*`DI,"9&FW*]5)!\9VQB0214L(T"8>14<L5-VY=`$,P"1?"V]+
M;2SMC^&UZ!TO*]D^J3_$XF\4&X$O5=/8$X]:+*2R7>N^B.!<^-WJ9=;!33NE
M$WC&-=MS2!X$S_T-TR1<,@<@S6\11`RIY3E=?PX(:AQN3ZI/U)&AI5Y!2\5-
MQZGA/X:28RK%4.H>&\CG23MLIU`0$.XLB0WD(#Y>0@.2U*:UL0?45!RS:?A(
M>=9#U9S47'RS0>H&ZMI)HB\0'O!Y#U26)YAY#[PSSVH;6ECH5[F4P"!]ZR0I
M1D)$E-_UQXX?*@`^?<9)%13`P?:4YWIC``^0F1Z^\H9>C%O=\\C.O!+Y\N5G
MS4S&`8"RU>$M\6$+8F9W\7ZRAI8[,KU^Q37=P$NRG8P'1H]TT4=LB24<T4>1
M;HZT9*MR*1\JS>Q[ARU6-3B2FUA\^:E?)_0G&VHR4),S%<<PKF<V,5Q7R-+5
ML=&*2O\`<]AZVV5W(N'B9\86`1F]CZ>U_8U6C=C&U\\O$.BK(D3M-E0G*Q2N
M;WXX^A;:J=IF%>RF$FL<7";-1A-=\2J6P3)`C.(08W^OM6$>PNNYIVOO]AZ3
M2C7C5U"Q:4_)1<S*4A+4[-M;Y2+;O6Z/L4_B+JZ5.SF69X^A=9SQ6>^-29K?
M2,*5"JR>DS9;[&[5?CGH*2KZTK5(BTMZY?"0-G<)LMC;<B&4VZ9V%M=X.TKQ
M*UM9B2P#(I,!"?69HS;JO-(ZKNG:U59,X=&4J8M@^)5U53>)6Y.,;3&]VUOB
M3K3*C`4"I5FC51HM'UBGP456J['N)&2EE6$)",D8Z+8FDIAV_E'A6C)NBW36
M?/7+DR:9046.(=<M@0VVVWB\39<$%1^8O']/>6LEU(9H0]_IA'4S4E"E#QY$
MGAE-*UHQ_M),H()BS`PE*27:QYC*)MS.N_:EP]V?S<#CCQ;GU*[MYC&N!,@G
M86$I7W*:H"3PW)$PD6I5$S=!*L+R-(T*`E[Y3N#$$`[QLTK5N`)ZY"?OY:_T
M=8?\[)Y%&'/T0(+RX&`;?7JB\F!(Y<=YI'>0^*(=%7`=?,&Q#!^2/N\<X>&'
M\`%1`Q0`F1A'LXQN5JR1*BD7S'IYG4-TZ"HJ<?K*''[3&$1Z=`#H4```/=P!
M@#`&`,`8!])''6W&O.CM8V1545W3FJ1[!^L)N\9:3@@/`R:QQ_VU9",<J'#[
M#&$,X:U%=2WO\W-J;TKYA8FC*EA@#`&`4*LKH7MBG78CU](EY%4!_P"X=VL)
M`#]12=TH?J`,WIP7!&#<MLPF20,`8`P!@#`&`,`8`P#D'<4O!MEE1]WA3DHE
MT_-X;Q8O_MFZP7!>0-#D(&*E739Y(-C.5FC.38($.Z=E:@VF$T$9`%&)%R,E
MUED&Y4$W2[=5TU04=(M%D$GKPB\Q((Q9\?=3,!9F:UQ^D:/:0[-D8;?=5!;D
MKY*2G#N4Q5L1Q]9L2ZWHGAS`]98YJM$'6>J';]XU=E?&\HW[D6VJM=<EG,Y8
M?4[87,!;];:(I\8Q=62N.VK%_P"!K^,)&&OLNZ%I83/V<=48]E6UW\@U@P/)
MR3:%B6R",-!&D7*<4C'"\."IJG%\,^ELMV'4)U/!_P!V2PO-\]^+//#ZVT%;
MX09^'CXF8@MB1SN:],2L,X9M8&VS&=O>*RY459<ARR-BC=BVY-E(E20ED(Z<
M<1\>LU:-6C9HBEWUWO/WGC?@-JI/&ZA96V8A<H70RS>L:9>3<Q431T:_F:ZS
MG9*6:2Z\I(&;LMQ.)=*RD%],.%TGC>U.8F2++QZ+EPBW422!=LT,JV`Z*9C-
M<?ZIG'&8?Y(EJ\X__F(Z6A_R91>IZP185JH2;M-ZE7I)S/PC*Q72<FI<[ZOM
M!*]=R,A.3SZ;GT8F/F4T7R$\\DF3:/>LF[I$K7T-,J%9.^DMOYS$N[PRLDO)
M0L#TT]%:F/%*1:=8\6(=Q98P6WM!9%FQV0UIY3TED!-,G\)\G3I!S5&TRW,2
M51JQTH!!\2';MF:397QOY_%L"=JK&?+6>DWC";XGD<Z+U>[4E%5Z^]$9MK+M
M)<B5IM[="1)-V*PVUTX=MF\\DW6D6=DM=CF8&6.D,I5WLN\4K3R)`X%*V5IY
MYMOS;>Z;#:JUPB++))::))ZYR;]6ZU#5*+]30+=PV8#(S4L8CJ1DI9PI)6*9
M?V":=K/Y=X^?KJOYB3?OE?&<G*51R<B14T@(F6R48?)N0VW=[OPH7X,]@@^C
M7B[,FGN/>I7QS]\R5/81`F$>HC[/G6@``1^T2A&`4>OGU#S$??G%VBBNKBWU
MN;4_:OF%B>\H6*J;O=BM:F;4!^HSAVX=W\RKARZ5./\`Q3\#_P"V:T8/B95X
M\O5D-9<H,`8!'6QJ$>_MZ<@67+$!5-B4^^F,:.&1&0"I2`R)8DH`_8>A^G*`
M1,S\1=^CD`W1DL8X"2&IC<T^A*<3O376Q7RG<,:+4(N2B4)$B[9S#TRMQYD8
M)LP69Q-2F+LN\F'ADGJI)/8MTK%V5J=SOOALW4NC7:G+A&-Y*OQQD:["^*^+
M]X+OM&W/&;XRDNB:E+>[EA=64,^M:1"5%:??V=U%L6#9Y.R7CE=2SME&,8UQ
M*KD=/9)P#^8.Q&8FUUI!VK(V"0EI554%'YDT[)0H^?/4I4Y<Q'SXENA$AY)`
MP!@'%KFWI9;4&TZ_ONGL3$K-@LS&3G&S4G=1B+HU<ED5S&`H`5-G:4FZ[PO>
M$Q?61)5-0R:;EFB.E+E;.YQ\^6!J.^G*+RXQKMLH55NZJT4Y;JE_)417<R*J
M2A?^Z<ABF#]0Y-&#X^P(621575(B@F=550P%333*)SG,/N`I2@(B/\@9<$K5
MZCIM_#>3)2++^1DV/D9%(?>`N!#J58X?HPZHAY@85>OU0)%`````````.@`'
MD``'N``^P`P#^X`P!@#`&`,`8!W([/2;-*:"5CCGZ^S=XL,2D01_(0=-HF>`
M0#["F7F7(A^<X'SD[9?7Q2?IZ&M&#XEZ,R+C`&`,`YL*VFNJ*J*#8(0144.<
M?];,!\S&$P_]O^O.@YSQ^TM<_C!"?VJP_P`_`'M+7/XP0G]JL/\`/P![2US^
M,$)_:K#_`#\`>TM<_C!"?VJP_P`_`'M+7/XP0G]JL/\`/P![2US^,$)_:K#_
M`#\`>TM<_C!"?VJP_P`_`'M+7/XP0G]JL/\`/P![2US^,$)_:K#_`#\`>TM<
M_C!"?VJP_P`_`.56PA2&^7,4%$UD!M$Z**J1RJ)*I#)N?#434((D.0Y.AB&*
M(E,40$!$!S>G!<$#3\D#`-"V#1&FP8Z#BWSE-!G$6ZMVI=%9D5\E(EKK\L@2
M-43,X;E23>*$(FHX_;A2(!A*B8PE,6&IC<Y)3B>#74AZ3XPT]=W:7$>[95IE
M;?6T2[CH2OQT8TCZW,TNCTAI'0H-5D"QT]6"T>/D:-84BB%9>RTV@SB%49(Y
M"PZ$YW[LH2ZJ+/(MMNV<7OK+=^,M/4UEWQ9:OBNRDV(0RKRONZ4@[5K;1T_7
MAB-=C,5U)5R6<2&9MA2WCO24\8C873B"\=U&`X>J*M8V-^4<KXWN[XYYR-O"
MUE>)<9=%;\XFSAQO8K`S4<65L\<,&]IAV\F6NA'33NOV&2AY1N$M9(";B;([
MML.Z@V2+>Z,9B*D`;%.NU:Q\X=6;4;%L?Q_,SO3(VNEG$VE;G*B&[7Z6+`5>
M$&M5FNUP7R\H,!!Q,*,FY1;-W,@,6P;L?3G#=DD@S06=^!XZJ+1%%LF=0Q$$
MB)E*4+JR2T(;EMZN3.X(&`,`[^<''!E^,VORF$1]&<6]N`C_`+(72P+%#^0`
M6Z!_)G'VO_DJY>2-J/M7/S9;3,RQ3K;J@GO<J4?^R0C4P_D&.;*_^:@YM1]I
MC7]SY$:98J,`8`P!@#`&`,`8!IFPZ'7]FTNQ46T-O286QQZK%SW0+X[57J55
MG(LS'`Q4WT:\30?LE1*8I'+=(QBG(!B&870.+%]U_;X6PP]&G4?];TVNLZR]
MD3%.1D[91$C*M8:704'O"HC,098Z213`3N">E"BX`BZ+@";4X6S<VRPMR\@9
MN#KC"#2_:2^,Z,7HL\4*'BGZ^\J8>8(I=?<0HB(]`\0Z@@`Y8&?P!@#`&`,`
M8`P!@#`.Q'9JN3&H&R&8C]1"X1[DH?9WG<*DD<?^(,B=?Y`SF[?&GAZFG9Y\
MO4Z49@:#`&`,`^+V4:'82<BQ4#HHR?.VAP'[#MW"B)@^SW&((>[/06".<]'`
M&`,`8`P!@#`&`,`8!,-!E?26*L8J;JLQ'OH]1\S-53"/0/M'P51$H_84BB10
M\@P#?\`8`P"$MRT*[7DM-]EI^!8,Z[>:!9Y&(F8.0>GD/9O8M/L3E^UE6-EA
MR,W$=`Q$V@V8.HR4;22L@*9A9N2LG[*M2;C"S3NIP?'H6I:4RL4TMTTM>;7\
MFC0FBS'DCV91FM5Y$U]G+#7F,<M!Q:E3A+34*/$6%L\0JS5*'D91*4IBJ5<?
ML%"KI,'D6^L2LRZ"P,I&-GE>V4)I)X9VM^9N2ZL%C9)S>8;>?&ZZ19DT:Q9W
M*/I,*POB,&WL;)%1HNWKA3$B4&C=4Z,>BU*/0"II,R)$3`H=01*D"O[>"HY9
M3%\2KQM//$W[)(&`,`8!]`'"!J9KQFUV)PZ&=*6UUT'_`&5+I8")C_\`4FF0
MP?J,'3RZ9Q]K_P"2KEY(VH^U<_,MAF98Y$\K@60WC:C`=0A5V=<6(!3F*`@%
M=C$!$``0_AHF#_AFU'VKGYLQK^Y\O)%<O'7_`$RO]8?_`!RQ4>.O^F5_K#_X
MX`\=?],K_6'_`,<`>.O^F5_K#_XX`\=?],K_`%A_\<`>.O\`IE?ZP_\`C@#Q
MU_TRO]8?_'`'CK_IE?ZP_P#C@#QU_P!,K_6'_P`<`>.O^F5_K#_XX!&NQ(LS
MIHC+D`QUF?1!R81$QC-5#?M9A$>HB"*QN@!]@+G,/D7+T.'&OG_((<S4#`&`
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MEW,<Y<2`ED/&:LK4MN=/7-/AAEON0TDEC+4M/\-<<29LL5&`=A^S4;F+0=D.
MQ`>XO;XUN4?L$S6%(J8/Y0!X3K_*&<W;XT\/4T[//EZG2G,#08`P!@'R%;\K
MQZIO#;]<,04RQ&RKJS;@(=.\S)8I`S%4H?81=F9!8G_<4+G=2YII?]J\CG=F
MT1)E@,`8`P!@#`&`,`8`P#+P4F:(E&KT!'PR'[C@H?PVZGU50Z?:)2_7('Z0
MA!^S`+#D.4Y2G(8#$.4#D,4>H&*8`$I@'[0$!`0'[0P#]8`P!@#`&`,`8`P!
M@'TB<;H(U<T-J>+4)X:H4B$D5DQ#H9->;;!-KD,'V'(M('*</L.!LX:W-=3W
MLVIM2OF-R;,J6.6/-",,SVM'OP+^UR]1C%^_T\A7:/I1BH3K]IB(H-C#^I0N
M:T8<S&O[N/\`@J+ERHP!@#`&`,`8`P!@#`/"Y;I.FZS9<O?1<)*(JE_.10HD
M,`#]@]!\A]X#T$/,,*UP5KDV"L8_=,%ORVRIB=[IT[Y/(R2@!]@*IF(H`?8!
M@`?/-TY4@]')`P!@&"L\BVB*[-2KV=95AE'1KMZ\L4B#?T*$9MT3*NI-?TQ1
M)H!6:!5%RF=F,V(<A3.$ET0.BI#LG>+8Z;PNN[4IY#;GVE)3D!7*]+T^[J3M
M3L+BMV%B>*<P\K/D;[J>4YE:4X9RF1L\DH^E5A2?F:Q(C58NP0]UJ[I&)?2E
M8.6FU5.N.D?U1/&,4TI35C39ISE0U*=G'TS'5PG>(>I-^I]AR5MEK;#R0R#H
M8-^"#%^LRB6C=2.".A)1DNN=@Y$[UY+L+$QD4)./:!6'[$"%B'1GK27;H6I<
MRKVX898:SP<6S*U)*,/D_A1G?7(G'+%1@#`.XG9Y0AHS0KF1.00&QWJP2:1Q
M#\MNT9P\&4`'[2$<1+KI_P!\QPSD[9_7P27KZFM&'/T1>S,BXP!@#`/FI[2B
MBGI_*.QRQ$128;`@*Y<&8E+^U>+Z#[.28%,'D*IY2ONGBQ1'OE%X0P@!%$^O
M7V+FA+25Z^IC7]S^?+E!<U*C`&`,`_!E$R&3(=0A#K&$B13&*4RIRD.J8B91
M$!.8$TU%!*4!$"$.<0[I1$`/W@#`&`,`]5H]9/TS+,7;5ZB155`ZK1PDY3*N
MB82+(F.B<Y2JI'`2*IB('3,`E,`#Y8![6`351I7TZ+]#5-U<1PE2#J/UC-3]
M10-^OP^AD?+R*5-/KYF\P-VP!@#`&`,`8`P!@&QT^N.[A;*S4V`&],LL_$03
M82AWA(M*OT&)%!#W=U,5_$.(_5*0IC&$"@(Y#<)MY*0?4&Q9MXYDTCV:8(M&
M+5NS:I%_)2;M4B(()A^HB1"E#]09P'0>U@%#^<5=,M#4>V))^3"1DH!XH`=>
MI9-ND_8]_P#,5,T6^`!]W>7Z"/42@.G9YKY\P,^TRYG.?-#,8`P!@#`&`,`8
M`P!@#`(MV)$]2MIE$OF3HT=]`_@B(BW5-_(83(F,/F/?1+[@S2AY=`13F@&`
M,`8!_.@=0-T#O``@!N@=0`1`1`!]_01`!$/<(@'Y@P#^@'3R#R`/(`#[,`8`
MP!@'TA<;JD:CZ*UA7E4O!<I55E*/D1#NG1D+"96PR"*@?I$'DHLB<?\`:3'H
M(ATSAK<UU/?Y67D;T_:N'G<F[*DC`&`,`Y0]JWJM2P:QINUX]L*CO7TXK"SJ
MB9?,*W;1;(MW3@X`/5-A8&4:T0*/0"GG5S![QS?L*HJ=.JE<5_'D9UK!\C@;
MG29C`&`,`AG85'N%EL5;L\`]A6CVARD)*U5N_>/T$7YWKU:/V`VF%6T4\%DG
M)TMPYAH59%"7%%\Z4>*HM>X41JTVTU$IVYVJFVED63236N/FHYW?0T4=;;J<
ME<KKW86\B6&N:""J=\LYXUU9W):\G4K`6(9UF*3B(]9.-E#2E;.YG8ZN.)(R
MT3Z\`[@BD15K>^;QRP2YY+*29IR5I62F+VSPM>$WG!Z%CINYHXR3Y*RR<I#N
M)^N-%(*-LEJ4EV,1([FBY-=%K)QK1H[!"/H;U_$6*;DPE'HQ3-$(Y:+3CGKB
M?15C,[I?>6>.$RWNPB63ITBSR43L-?\`:&EA,SBDO(CK[?S%XS!.VQDK$,V"
M3%RS?7RW,WLVU*OKPZ2"\HE6GCF*DV#6+O#3VE8B>0G1=1[J401<34HI%Q%<
MJ]L[N_V[K1#OGF3M4Z7X*WW;[S*M@LL+[W#5C;,3';!4]?L'UC>14BTH3F7L
MLG+5\'A1E75;7F(8]6:JP*D6+YE#S3V.>6`UE0CB3+ADT="6/"R54.]XM>5,
M6RM^9Q*S3]-K6VM=\.;SE*48'K:0U];]=-9>%GS1B\,06J%979V:6EWJ4,S!
M1*)C9IB]K\4R4EX2*,UK9K"R<`24@(&M-?53%1@N=92FIGSGT7#@D36U5#4S
MG;/=?!XQDV[N2><L4,_6I48B6;N#&[K=0?1W0?9X"H@`G'^9.!%OS_4$/M'`
M+`@/7S#S`?,!#[<`8`P!@#`&`,`8!>+@'KP]NW82TN4!4B==1+F:4.8O>1&:
MDTUHF#;G\O)4`6D91`>H=%(GKY].@Y=M5%,=ZW+,M0I?"YW.SD-A@$2;TIAK
MWJRVP2"7C2)8\96)*4O>5-)PYRR#9%'R'HH]!!2/Z_[#LX=0Z]0M2X:*U*:7
MUZ'%+-C$8`P!@#`&`,`8`P!@#`/4?LTI!FY9+AU2<HG2,/3J)1,'U5"A_M)G
M[JA/S&*`X3AR"M;QJJR=.&BY>ZLV5.BH'V=XAA#O!^<I@Z&*/N$H@(>0YNG*
M3!ZV2!@#`&`,`8`P"5-(4!79^V*+2"I&5:S,\T];=T!ZIP3`324ZKU#R*)(A
MH\%,3"`"KX9.H"8,K75LTM]..1*4M(^EHI2D*4A"E(0A0*4I0`I2E*'0I2E#
MH!2E````````#H&<)N?K`&`,`8!I6QZ+#;.H=NU]8"=Z'M\#(P;PY2%.JV]-
M;G30?MP,(%!W'.?!?LSB(>&Z;(GZ@)<E.&FL4Y#4J#Y$;Y2YS7-TM%$LK?T:
M=J<W(0<DF`&\,Z[!P=$'+<Q@`56;Q,I';)<`[CAHNBN01(H41[DTTFL'<YS4
MLD#`/R<O>*8O>,7O%$O>(/0Q>H"'>*(@(`8/>`B`]!Z>0X!6B,4O]=D9((A.
MT/4G6UYFN@M:V=XM[9E0F&O5YUC)1C1U.QX='=KBDH)I/F=G9K.)M9!8[LX-
M"HT4K5_4U>7:-..9>T7C[9M"E[419:7C$PK#;&[GB::YJ&5!-($P62>:ZV*Q
M4>>FOG2#98H"[=.HPK!DM&O91`L?.JB+:1;MS`==$S2-JK3\/YYD[-.O2JGG
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M=:5O3/9I\6I9[+E!@$YTV6]91":2AN\Y8=ULMU'ZQDP`?1E!_P#$F'AB(B(F
M.D<P^_`-MP!@#`&`,`8`P#OIPIU,?6&F(Q[)-O`LM]43MDN50G=7;,G*!25Z
M-4Z@!R^C1?<>J(J%*HV?2;Y$WY.<?:U;53T5EZ_DVH4+C\1;S,RPP!@'&OD3
MKPVN]G33-NAX4).G-88$2EZ)$9R*JAG#(G0.Z7U<_*Z:$3ZB<&I&JI^GC%Z[
M4N4NC,:E#?5$%Y8J,`8`P!@#`&`,`8`P!@$1[$B?"7;S"1>A''1L[Z![ETR]
M4%!_6HD44Q'R`/!+[Q-FM#FV@(SRX&`,`8`P!@#`.KO9R:H.FG:=QRC82@N4
M]0J9E2_E)$41=6.12`P>915381C=PG_"2EVPF_++G/VU6%*RN_1>O-&E"SY+
MW]#JGG.:#`&`,`8`P#BQVI?'50YHSD55V(F*4C&M;*2;I]1*!1(TK%H6[H>9
M>@I5N06,(=T"UXA""`N%`Z.QK_H>]KU7J9UK/J<5LZ#,8`P!@#`*]2%LNL=*
M7INR3I#6PQUEK*46+^L2#0UPK$G%HN&+0\DVMZI0<M%4+2DK9EE5204?#.I!
M[1B,0(L\K+OK*RQ77C?+3(M"MC$.;X.=(TBUIE?496+V9.1\TG![`91,$[<V
M$D:S-%E=22+AM(EK$9#-15;O'A&[U6R65LBZ<N3(J)1;NO/'$(P).N%H4F\'
M;XEOS?EK*;.DNVY82W^%UE2XO.&6*C`&`,`V>HRWJJ81%0W=;/.C5QU'ZI04
M,'A*C]@>&KW>\8?R4C*?GP"><`8`P!@#`&`6GXCZ/4W1M%B63:&5I-0.VGK:
MH<@BW=IIJB:,KXCT[ICS;M$R:Z?>*;U4WDU4S@JDF!L^TKV:7WGA[\O,M2I>
M[/YO/H(``*`%*```````!T``#R```/(``/(`#W9QFQ_<`8`P"N/)K5AMD4%5
MU%MO&M%3%>7ARIE[R[UJ*9?6T23IU,8SMNDFX;)E`3JOF35$HE*LH(VI</<R
MM:E3H<A<V,1@#`/7=K*-VKE=%NH[60;K+)-4C$*JY433,<C=,R@E3*HL8H)D
M,<Q2`8P"80+U'`*'17)R\,V6D)60;UVQI;<U[3;5=VA535YOIZS6[:^E=<(0
M"[H&DBY3;=_:=I:LHJUMTI]>:U=.D.\[OK=A`Q.&]3PPM^7Q-'2OJBVRVEG*
M5-3G+3%6NK'NZRY@NK#`ZVBYZKQKR]V6"J#V55:7&N04.\;RU#TA;I6P1A)X
M\:HNY0+NJ.=*TV)"6E2,X:7)$+S;H8EK)D[+5QY)VX2'1$WLIROC4EA_M=^'
M+8+CONV*5GC=:H9@>"1W2I/R+JO1<O3GTN,%^Q3:]B5=-I/7<L#7&DFJ:'@R
M3(K`HS9^L)*.:N)$4F4L=.&_V(5*FI=W-S$[25TKYN,]QYV_+*-<3+.H0L1%
M6JP.)A"N,WJ5K91<=+NUK'&UN/G#)MX^97C8B>++Q<^R\).3,6,>F!L+X$VR
MSZ1L.)R_AOT,>;F0S64APCM>2#U*8UZTVFAWK"W;NE*RZ2K#@U<9-!B51>;7
M9I6!5%YKH56ZB4@WC&99Q0L\U<(1,NVD_/QIBAL8WP<86SO/=E?=^+$\::VR
MUW'65K9'PX1,4HY9C$"-AKT\N^C7\)%RZ2TDA!/GBU;FF:\@XB)BL39&TM%R
M$<L)R*MEVRZDD54[+B9UL\9:SQXDNX*F-EXY.5CG;!3H`+I""9Q#KX:Q?KHJ
M?G^HJ4IA`/RB@)?<(Y*<.05M624;JJH+%$BJ*ATE2#[R*)F$ARC^LI@$!S<'
MCP!@#`&`,`W;7-"G=G7:NT6N(^)*6&029D4,4QD&+8`%5_)N^[]8K.-9)KOG
M0E^N**!RI@90Q"&BIJE-O+Y^1C9'TG42F0NO*=7:37D?!B*W%MXUIW@*"JXI
M%$SEZY$H`4SR0=G7?/%```4=.%E.@=[IG"VVVWBS=*$D;9D$C`&`,`8`P#"6
M2N0EOK\U5K)'-Y:`L,8\AYB-=%$R#V/?H';ND#]!`Q>^DH;N*)F(JD?NJI'(
MH0IP*UUB@?*]RGXZ3_&W9\A4WI7+VJRAEY6B6)5/]KF8`ZW0J"ZI"E1"9AS'
M(PF6Y03,58$7R:)&,@Q.IVT5[=,YJSXZ\'D85*'Y%:\N0,`8`P#65J537""#
M5Q4JRNU:O59)LV6@8I5!O(N!`R\@@B=H9-)ZL8I3*NDRE74$H"=0P@&1"T70
M2]3-*1T>L9$ZK%FJ=NZ%\@=1J@<R#T0$HO$3&((INA*8P"X()51`PAW^@CDQ
M[@]S`&`,`8`P"?*K+>MHA!0YN\Y;=&KKJ/UC*)E#N*C^?QDQ(<1Z=/$%0H?D
MC@&R8`P!@#`-@JM7G;K8H>J5F/6E)V=?(Q\:Q0#ZRJZH^9CG'H1%N@F!W#MR
MJ)4&K5)9RN<B*1SEAM)-O!`^B;0>F8;1NNXRGQPI.Y13_65HF2$[IIF?<)IE
M=+E$P%.5DU*1-C&(F`HI,FZ1E`%RJX54XJZG75+Y+1?,3>E0O,FK*DC`&`,`
M8!RTY5:6/2K`I>J\T$*I979COT4"?M4%/+B919(2E#HDPE#=]RS,'1-%R+EE
MT1(#(BNM%4J,U^3&M0]S*A9<J,`8!Z@,&(>D=&30/2UB.'?1LB'I3A/P_#7<
M?4_;EB>$EW%5.\<OAI]TP=PO0#&R;9!A&NW4?#1;IVU157:-7`HQS4[@&YVQ
M3.7J;)ZJS;%;J*).G+=B^<I,17*W8O3B5HL!7!+?8/JQ4+8;50R]7L%$LEE9
MA`S47/RL;+5B/0=RD6>&/%LD&-=!X=*N*623D(>1BK*9O&6>I0"1S/$DVDML
MW:F\I736/KG"FV#<$J:\OT!?E["U28P323KTT>/<LV<DA*+K.(IK'D6D/#/&
MQKQHFU4=MVC8D@T:RA&WH;EPQ8MWT>"XAJ//K/MEOT-P>4RLO['!6UU%)GGZ
MTVGVD*](N[0(T1M"L2M.BHQ0<)1SU9\M!12OI+]HY<ME&A3LUFYE5Q5"7#63
MB>1LB2**(&*BDFB4ZBBQRI$*F!E5CBHJJ8"``&454,910X]3'.83&$3"(X(/
M)@#`(8V!$^BR"<FD7HB_#NK=`\BNTB@`B/V!XR0%,'VF.FL8??FM#M&GD"/L
MN!@#`&`?T`$1```1$1Z``>8B(^X`#[1'`.XO"?CD?5-5/?;<Q\&_W)DD";1P
MGW7%8K2AB.&\8<I@[R,G)G(B^ER&Z';@FQCSD27:O/&Y.UKVG"P7Y?MH:T4Q
M=X^1>K,BXP!@#`&`,`8`P""^0V@J=R+UW(46UI^BNBB9_6+&@B161K$\FD8C
M:2:@82>.V4`PMI2.,HFE(L5%$?$0<%:NVUJ:G0Y7-9,AJ3Y<]P:?O&CKS*T"
M^Q9F$M''%1H[2`YXN=BU#G*SFX5V8A`>1KTJ9A34`I%FZQ%F3U%L_:N6R/93
M4JE*P\MS^?@Q:AP1?EB!@#`&`,`8`P!@#`&`;A2I;U=+%;J&Z-I$"MS]1^J5
M?J(ME/\`\Q%+\P`L(C[L`G#`&`,`]R/CW\L^9Q<6S<R,E(.46;!@R04<NWCM
MRH5)NV;-T2G56765,5---,ICG.8"E`1'#:2EV2!W1XC<7&VE(7VKMB#=WLV?
M9@1T)1370J<8MW5!@V"Q>\11\L($--2")A344(1@S.=H@HZD.3M.TVW"^U?E
MZ^QK33%WCY%T\R+C`&`,`8`P#$3T%$V:'D8"=9(R,3*M5&CYFN`B15%0/>4P
M"!TE4C@55!=,Q%FZY$UT3D53(<&%T,;,X^;NTM-:AL!D3`L_JLDLH:O3@DZ@
MJF'4XQT@)"@FC*-2>2A0`B;Q(H.VQ2E%5!OM35M+?F8--,A'+$#`&`>A)QS>
M68N(YTH_2;NBE*HI&2DG"OB@50B@"WE(9VPDVAA,0`,=H[1.=,3I',9)0Y#`
M:7%ZMIL+9$K7%-Y]C+)-7#444+K=@@'`.W$J]>.GU3&PC59&4>2,Y+RCR8?P
MKF6=2\@ZEG#U224%UB/G\8$RXBW13UB?R9.L4&HTQ:07K4.G&*RAFBCXQ73]
MUXRK.'AX%-8I7KIR5%=:*KT(U?KH`DM)C%LW$D=VZ1*O@-MX_)<^9N&"!@#`
M&`86P199B*=,N@>*8GBMC#_!<I=3)>?V`<>J1Q^Q-0_3SR4X<@KF8IB&,0P"
M4Q3"4Q1#H)3%'H("'V"`AT$/SYN#\X`P!@'4OA;Q*5<KQ6Y-G1@ILT11D*)5
MWZ/0[Q8.BC6T2S94O4C1(>ZO!,U2@=TJ"<JJ4K5-EZ;S]KVF--/!OT7J:4TY
MOE[G67.<T&`,`8`P!@#`&`,`8!`7(;CEK[D?33U>Z-!;23(%UZO;&*27KNL2
M*I`**[10_0'4>Y$B192'<'!I())IB(MWK=D^:6IJ=#E<UJBM5.UZ,^:OD#QM
MV7QRM!H&\1@K1+Q9;V;N$<FJI7;(V3$1`S1T8H>BR"2?07T.\\-^S$0/W%F:
MC9XX[*:Z:U*YK-?-3)IK$@#+$#`&`,`8`P!@#`&`?T!$!`0$0$!`0$!Z"`AY
M@("'F`@/N'`+!UV5"7B6SH1`5RAX#H`^QPD``<>GV>(`E6`/L*H`?9@&<P#9
M:C3[-?)]A5ZA"OIZ=DE/#:Q[%+OJ"`"'B+KJ&$J+1F@4?$=/72B+1JD`JN%D
MTRB8(;5*EN$#M[Q@XCP&DFR%ILXL[%LUTW$IWY""K&5=)=,2K,(`%2%,HZ4(
M8R+Z:433<+IB9JS3:M#N0>\O:=HZ[*U/GO?L:TTQ=X^1<[,BXP!@#`&`,`8`
MP#7[15H&YP;ZN62.1DXF03\-=NL`@)3!YI.&ZI>BC9TW/T4;N43$514`#$,'
MGU)M8!I/$Y0;MX]635#M:39%<3M(66Z-)M-/O+QOB&Z),IY)(O=;+`)BI)/B
ME*Q>F$@D]'<*"S3VIJ3XZ>QC52Z>&I7;+%1@#`&`,`8`P!@#`&`0;>HGU?+"
M[2+T;20&7#H'U2N2B`.2?_4(E6\_>*I@#R+FU#E<`:3E@>9LV</'"#1H@LZ=
MNEDV[9JV2.NX<.%C@FB@@BD4RBRRJABIII)E,=0Y@*4HF$`P#K%Q:X/>K58[
M8>ZXY-1ZF*3V`U\Z*15)H<.BB#^V$^LFLY*/=41K_P!9)`0*,N*BWBQJ'/VG
M:Y4/C5[>_0TIHS?3W.I``````'0`\@`/(``/<`!G.:#`&`,`8`P!@#`&`,`8
M`P#5;I2*EL6N2-1O%?C+/7)5/PWL5*MRN&Z@AU\-=(WU5FCQN8?$:/FBB#QF
ML!5VJZ*Q"G"4VG*</<0TGB<2N1_9?VBN*/[3Q^=K6Z!ZJ.5:%+.44[5&)^:A
MTX226%!E8FJ1>\"35T=E-%3*D@D,XZ.94>BCMD[5V>N7/3Y@9NAK"Z_)RAF8
M29KDF\A+!$R4',QRQF\A$R[%S&R3)<OY2+MD\21<MU0`0$2*ID-T$!Z=!#-Y
MFZNBAC,`8`P!@#`&`,`8!O5#E1:29H]0P^#(@!$P^PKLG44N@?G5*)DN@>9C
MBD'V8!TNTEPJVGM4[26GFJNOJ8J*:II>>:*$F)%L/0W^I(!04':P*D$IDGT@
M+"/.D<%FR[T2"@;*OM::</J>BPYOYR+*EO<M3L9J+1^O-)P@P](ARH.'!$PE
MI]\)'5@FU$_,#R,AX:8^$4W4Z+%JFVCFQC'.W:)G44,?FJJ=3E],D:I)8$N9
M4D8`P!@#`&`,`8`P!@'A<-V[QNLU=H(NFKE(Z#ALX2(NW715*)%45D52F352
M4((D.F<IB'*(E,`@(A@%&=N</&4F=U.ZL60BWA^^LO4WRHDBW!QZF,$.^/WA
MC3F'KW&3OOL>\<"I.8]NF5/-%7KU,W1IT*`V*L6&HR:L/9H:0A))'KWFL@W.
M@8Y.H@"R!Q#PG+<X@/AN6QU6ZH?634,7SS3&Z,S`X`P!@#`&`,`8`P#7+3$^
MN(=P@0O><H!Z4TZ!]85D@$13#^>3$Z0![N\8IA_)#+4N'NS!Z>H.-VUMTN43
M56OJM*^*O<=6Z<!6.KK8I3=U7P79TCK2BZ0^1VD0@^<)F$HKD03$52WJ[2FG
M%R]%C_',E4MX=<CL?H/B9KO1R:$L5,+9>Q2[J]ME6R9?0C'+W54J['"99*'1
M,43$,X\5S)K$.JFJ_P#1E/12<M?:55[EI\Q-52EO>I:C*%A@#`&`,`8`P!@#
M`&`,`8`P!@#`(AVMH746[8\&&S*-"V0Z:1D6<JHB=E8(T@]3=V-L$>=K,,TP
M./B&;I/`:+'`OI""Q0[HV555.#:^:8$-)XHY?;3[)9LJ=R_TQLDS4#"<Z%:V
M&V,LB41^MX:=I@6OCD2*/[6DFO6G*H%[HK/5#`8YMJ>W[RYKV?N4=&CZE!;W
MP7Y24`ZQGVJ9JQ,DN\))&CG;7%%<A?>JFQ@U74VB3RZ]'D4U4Z?6[G3SS1=K
M0_ZHXV_@KLU:>OD5BFJY8:TY%E8H&:@'@"("TFHM]%.0$OO`4'R""H"'VAW>
MH?;FB:>#G@5,+@#`/99LGD@X3:,&CE\Z5'HDV9H*N7"@_F311(=0X_J*4<`L
M!2N)7)+8!T0K>F[N*"XE\*0G(HU4BE"F_P"T3E+2>&8*IE_A&1<*>[H'4W0N
M4=="QJ7*_E).RWDR\FLNR=V'+';O-KWZ`I[$1*HK#59%:SSIB>7?;K/7(1<-
M'+#Y]'#8\\D7H'[4?O"!<WVZ_I4[W8NJ'F_GSB=.],\,>/VCCM9"KTQ&9L[7
MN'3N-Q.G8;"FL3IW7#$RZ"47"N`\P\:"BXQ4Q3"50YPS&KM*ZL7;167N^<EE
M2EQU+490L,`8`P!@#`&`,`8`P!@#`&`,`UVS5&LW*/-%6F#C9Q@;J)49!L18
M43F#H*K5?H#AFOT#H#AJJBN4/(J@83:P(:3Q13V[\**Z_,L[H5B=0"IN\<D1
M-D/*QG>'KW4D'Z9DY)HD'E]=P675'H/GYATT5>JZ?/8HZ-'U*MV?C%N6L&4,
M-6/8&J?7H\K#E*7*KT_1L"^#,>8>8=^,)UZ]`ZFZAEE52\^MBKIJ672Y"<G"
M3,(MZ/,Q$I$+@(E%"38.V"P&#WAX;I)(_4/M#N]0RQ4Q>`,`8!N<#KJ^V@Q`
MK].LDL13IT<-(=\=F4!]QE'HHE:)%'_;57(7]>)2Q<"&\%)8.I<-]GS9DE;&
MO#TYF;H*A7;DDO*`0?<9)C%J*,S&Z>8D<2K4Y>H`(`;O`6CK7$NJ'P+<T+BE
MJVFF1>23-:YRR7=-Z3803/&IJ![S-X-$`8B01`!`DB,F<@^9%0RCK;W?-2RH
M2QOY%E4446Z2:#=)-!!%,B2**)"I))))E`I$TTR`4A$R%`"D(4`*4H````!E
M2YY,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`T'9O[S9;^;#_R-@'!S=G[J
MO/YU7_S-G2L5Q7F<Y'&OOW61_GB_^I++5X\O5@[I<:OWK*?S:.<]>/+U9K1A
MS]$66RA<8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!K=N_>_(_S(X!RCVO_
M`->=_P`X;_UCG0<Y!47_`-=)_P",/_5@'0+C]_U]E_XR?^>4KPY^C+4X]/\`
7LB^>9&PP!@#`&`,`8`P!@#`&`,`__]D_
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>33
<FILENAME>g908770g91v63.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g908770g91v63.jpg
M_]C_X``02D9)1@`!`0(!>@%Z``#_X6ZD:'1T<#HO+VYS+F%D;V)E+F-O;2]X
M87`O,2XP+P`\/WAP86-K970@8F5G:6X](N^[OR(@:60](E<U33!-<$-E:&E(
M>G)E4WI.5&-Z:V,Y9"(_/CQX.GAM<&UE=&$@>&UL;G,Z>#TB861O8F4Z;G,Z
M;65T82\B('@Z>&UP=&L](D%D;V)E(%A-4"!#;W)E(#4N,RUC,#$Q(#8V+C$T
M-38V,2P@,C`Q,B\P,B\P-BTQ-#HU-CHR-R`@("`@("`@(CX*("`@/')D9CI2
M1$8@>&UL;G,Z<F1F/2)H='1P.B\O=W=W+G<S+F]R9R\Q.3DY+S`R+S(R+7)D
M9BUS>6YT87@M;G,C(CX*("`@("`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O
M=70](B(*("`@("`@("`@("`@>&UL;G,Z>&UP/2)H='1P.B\O;G,N861O8F4N
M8V]M+WAA<"\Q+C`O(@H@("`@("`@("`@("!X;6QN<SIX;7!'26UG/2)H='1P
M.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O9R]I;6<O(CX*("`@("`@("`@/'AM
M<#I#<F5A=&5$871E/C(P,34M,#0M,C14,3$Z-#(Z,#DM,#0Z,#`\+WAM<#I#
M<F5A=&5$871E/@H@("`@("`@("`\>&UP.D-R96%T;W)4;V]L/D%D;V)E($EL
M;'5S=')A=&]R($-3-B`H5VEN9&]W<RD\+WAM<#I#<F5A=&]R5&]O;#X*("`@
M("`@("`@/'AM<#I-;V1I9GE$871E/C(P,34M,#0M,C14,3$Z-#(Z,#DM,#0Z
M,#`\+WAM<#I-;V1I9GE$871E/@H@("`@("`@("`\>&UP.DUE=&%D871A1&%T
M93XR,#$U+3`T+3(T5#$Q.C0R.C`Y+3`T.C`P/"]X;7`Z365T861A=&%$871E
M/@H@("`@("`@("`\>&UP.E1H=6UB;F%I;',^"B`@("`@("`@("`@(#QR9&8Z
M06QT/@H@("`@("`@("`@("`@("`\<F1F.FQI(')D9CIP87)S951Y<&4](E)E
M<V]U<F-E(CX*("`@("`@("`@("`@("`@("`@/'AM<$=);6<Z=VED=&@^,C4V
M/"]X;7!'26UG.G=I9'1H/@H@("`@("`@("`@("`@("`@("`\>&UP1TEM9SIH
M96EG:'0^,3DV/"]X;7!'26UG.FAE:6=H=#X*("`@("`@("`@("`@("`@("`@
M/'AM<$=);6<Z9F]R;6%T/DI014<\+WAM<$=);6<Z9F]R;6%T/@H@("`@("`@
M("`@("`@("`@("`\>&UP1TEM9SII;6%G93XO.6HO-$%!45-K6DI29T%"06=%
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M8FY*,F5N-4MJ<$M7;7`V:7!Q<75S<F$V=F]204%)0T%1241"455%0E%914-!
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M=%I75UIM6D-Z:$14-&%':'AP6'`K0EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ
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M0DM",D-K:&%6<%4Y<6I&5E`Y2C9B+T%-=&-0+TEX9C8T<3<Y2C9B+WDQ=R\X
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M43%B*U-K=4E'6B]/;"M69#525#9W:$1+5TLX='IV>E@W.%963%`X=3E#9S%Q
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M4F=W1%5";V%D-D59<7%9<3=&6%EQ-T9867$W1E5R.#`V<F-A5#5D,415<F15
M964P)B-X03MH85=.6D%3:%I2='E!2VUN,#1Q.#4P6#@P9DYM<5A45R]Q84Y9
M.%5,*W)E*W1$1V%%1&E'.59V:3-W,'%.8GIP-7!,2F1(52],;G%))B-X03MR
M24EV56UQ4DDS+T=4=#969FM2-#1Q9SE9+TY$>EIP<GAR-G5I,W9Q8W9I<R]7
M;$,X1W`X6#<Q858V:C)X<%5B<F8U;38Y6F584$PR)B-X03MP45<Y<6)J5F]P
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M3&-K9&UI=V\O<7I68U)O845F1TLO67`T5D]+="M3+WI/,2]7+TUL)B-X03MR
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M3&$S)B-X03M3879P3DQB,T-"*U`R=4IA559P6&5M3DMZ5%)F3C)O,W8U8WHK
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M+T%(:C!U,G5D*U`W;3)U6E!I;U=P.$UP,V]#8V%1=5@X=W9Z26@U5$A2;W5.
M>7=K0DYP8S`K=W$W)B-X03MF=F9!02]4:E-O6%5V>F@X-S9F-C985VXR8T9X
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M;U1%1S5C;6-D8U9:6&0V:'`T:U5'-G1'4V%O;EEA.61S<&1#=%=C2W9+:DMV
M1558.$%-5EDY-71A)B-X03MX9E-M;%%26$%75#!O4%,Q3V$X1413.$I1=U-2
M04MC15I$53=M=CA!3&ER2B]+=D@O;%-&-7ER>"MQ8717;E=N<EA/2U=(47@O
M;#0W)B-X03MH8D5A,#$X05=T=R\Q4&@V:6IK2V<Y<6I#:&YY2%=A>69O.719
M5S<U4'E34G1)-#@O=T(U='AQ4#(V;G`P,SA-0UAN971W-DI(<F(O)B-X03M!
M2U=B569R16IY=&9V+V]Z4#9N2U%!;T5B:#EO3%56.&%D<TM%-C%V-G(O>7%0
M4W9Q;E`V<BMK-VHV=C9T4%4Y4#$W=FIZ-"]$>7`Q)B-X03MP9U-S.'%V65$V
M2F)Y5G0W3S1M:W`Y66LQ4S1T6$Q+6'))65EL-&=&9C-D83=D96AX46U.>&0R
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M.$%G-%`K<4].<3<O;%-N;&HO04IB3"]W1#1/1"]Q)B-X03MJ:F%Q.6HK5"]L
M=7EV-U<Y:G4W,7!B4V%/-&I6,V@T;&]N1'%'<$5$4W$W-S0R<5`X>B]L>F]N
M;5!61C%+.6YU;W`Q9U,R-'=.1W%L)B-X03M),V1W85!'-7)753DX0V]A,B]+
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M<W8O.$%G-%`K<4].<7E+,CAS-DYP)B-X03M0:RLT,$8W:#`P:U%84S-&>D\V
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M+W=#84U69"MK25`U)B-X03M*=CA!:U).+WI2:7%4*V-R-D)V2T=U2T9L<610
M=6=+=WEG8G=.,TLP>%8T<#55=61.=#<K4U152DQ:26EI0F9R9',Q,FA0<DE4
M4D5+)B-X03MK14M#83EX5F4K4U%Z<4MW<V)S6$TV43(S<&=K4E)X-D1D=$=1
M56IC3W!5:FIY-&EN3'-392M"5TDK8V)Z4G)H8F1D3VMS<$1(2DYZ)B-X03LK
M<%=5;&ME3$93<&8Q1V)L,T-J.6UN=FA63F11+W=$2DTV2B\R,$IV*U1T,6=6
M4S`S4B],<RMK4DY+=6U,9$,S16MK<S)P>5)Y37IT)B-X03M51#!G:%9854EW
M2R\U47A61E@K;F56-U<V5UHY33`T=WES46QU;7%454LQ0T-13G=8-$-7-6=J
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M<3<V,U`O04US53,S=R\Y5DU64WE,5W)I>&<P-C!U3DQU:$Y0>'1O9T=T4T1)
M:TQ3158Y9CA!;&EB1E5B*VLW,R]Q)B-X03LP,U@O04%6<B]W0E8X5E=T<3%Y
M;D5Y85ID27)-<6-I,7-10S="4C!M2C9N1E52.6)N+S59<'9V:"]W0W%M2W%D
M>'%B,CA9:VQS-7=R)B-X03M/:UE)34HK2U9X1W8K-U`U;4=+<6XQ=68O;&EM
M*RM(+T%+<5EQ=&QV-4EO,VQK<S5G:4M763%H3D%"53E*359294MU>%9,4$Y.
M<F-8)B-X03MF;&I6-U,R47DS1GA:6$5535EO0WIV17EQ;W)18FLT<3A5,')Y
M5C5K9W9O-612.'4S5C-A2GE,,GEU:UIC.%1X2$Y80E5C<59)+TAP)B-X03MH
M47EL3')Z3$1/<U5F;%A6231Y=%5G6%9R9V9$1W9!,4EF.$%Y;#95-D%9<7AZ
M6&9*;70S1C%'*VME5S=Y,&<Y2E),2$LV4T5Y:79*)B-X03MU4FMA=&9O*U=+
M<VAV=DLS;4HO>7$P<E,P<TI',4=#.&MM;71!535Q:E,S0D(K,51P279F1DQ%
M8F9Y4C5Z:6YJ;&)1<#56:F1784IV)B-X03M4-'-!83A4.&91-%5*=%!:*V%R
M,6(K06548F5-<T1$>FAH:FIK:%EN,6Q+:U-5<49L039D2UE&4T,V.&=E9#5,
M5V%.3D9U0WIO>7%+)B-X03MX.5-#0BLS:7%C95@O=T%W+U!'<5-1>'DV,#A,
M>E)&,#E+>FAM6FXT8V=I;VM83&9X-UEQ>7$V=F9-45%32C5R=35:24-Z<5`P
M27DX)B-X03M76&MJ0G8S4G`X4$DW.4M9<6QF;6)Z5#4Q,%=+>EI.975*;G51
M-6M39E1&=$]"44QS<&UI+V5F83,T.5!P>%9,<G8X04UR>F]U:C9B)B-X03M+
M;6]C6C5P<C%*<%)$05-Y=TQA=$A51D-O<#8W9$)I<4\P-U=V>F<Q2S!3-W-R
M:WI7.&Y(9R]#>%=V2GI'3FU52#=A:UEQ-C!U=GIH)B-X03MJ47@R.#4T<WI3
M;7$R23-M;$I**TI14GED-FHR,S99<6@Y12]-2'IU,VU7=W-,-B\U<$IE4E<Q
M>D,P3G5.;FQ%8FEQ27`W.6IJ4V],)B-X03M39GI*.#0S9'IB<&4V.&)/,VQP
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M5#)X5E`X03AV4$Y/=38W<'5V<'%T>CE:3G)#:&AB:$=H2'%*3'E()B-X03LW
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M.$U#<U4X<B\X04M4-DXO=T%X.7(O>6940W)E:#9P;T9T<#!-9#5O,S%Y9C`V
M1V8V>DI%86YD5'A5141J=#DR2W91)B-X03M9-WEY*W)45S`X,75S-TU&;4UU
M=EA32&Q01T0V;D5P4F=Q=49B8SE-0W-B,7I79$E&-&8P<'!486A->DI,8GIF
M<$]E8TIB5D@W9T]1)B-X03LS245H:GER*S%I<DA.3C%%-F1.8EA1=&],<FDY
M=T1"9%)I84IG56@V<68T659:4F](;5!2-55K;#%+,3!E>5<R:FIH:59T4&$T
M855S)B-X03M45FEQ>7`X44,W="]88TMQ-GAQ6&Q-,DIU3DU/;GDS1G1B47=.
M6GE75&]:;4)5>51Q.5DV3GEA;D@T:E%%,7!I<48X<S8W*VMF3U=J)B-X03M,
M*VHW2WHU6%EC=&%X1TTO1$9)06]*6G%,4G5G.$)I<D5R<B]!2'-U=BM-.#,O
M2GAS2W-Z<W)Z>3%A-E!B,C!T,W!Z,TET,F%4;G!J)B-X03M43TAK4FU#=&-,
M2CA4<5A#9S!O3G$W:D%Q4F5B=C!A*W)M-#`V93-N=')I3DA!=$E'=%EK2R]U
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M1%DR8U=L>E)S1G5$9E=&=#9%;DIU5EEI96(O0TLY)B-X03M#065M=W=Q.5`O
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M43AL4$8U1U4P23=J1E=%<"]Y;U!G=D0Q94Y">'`K;&%5-UE65U1F)B-X03LX
M<4PY4T0P+U<T8WHV,R](5BMZ=V)X+WEU3TMQ=B])0F8K3'8K-7)I<DE.1CAM
M9FQD<BMN3%!P;&\Q>&%14T]N4#%B,DIH27=1=4<U)B-X03MU:FYB:C$K:D95
M8B]!37%O.&AF.5<Q+RMK<3<O04]Q=4,Q4S-8=DIF-54V0F%X,U=R5W(R.$4P
M;V=J6518.&A-:%9N0SA9,V1V<V]X)B-X03LV6593,U1D4B]*1%1B*T,O<S-L
M:G5R9'5C36A853-#<U%6<GAC37`R4&-9<6]3>69K4$Q+.'(K<GIK6FYC9V%O
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M;F8X:FQ:5F=I:VMQ0U=:,S%:04M5;TYL8S<Q.$U652]5+TIF+T%(=U`K4C)S
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M:VML:F=J;'1O;G-P;U=M85%T.%`W=VII06]6=5(R3F1U;498;W8U2V8X;WAE
M9CAX-R]!4$II2$%5=E%-0W9/=GIX)B-X03LO=T-58S!V+T%,86%F.5%T>&A#
M<T\X<U%"3DDU;5AY*U)-,'$X3E1*3GEL44)79T=W2'`Q5#4K2GA1:7I/5T5C
M>%1Y>"]P14QZ*VY1)B-X03LQ:C5O5#9B02]:9%%!<7`R4#!N1E=,*UEO+U0Q
M=31(2WIE<%9Q-F%A,G9X2T134#5D+V9#<69.-6(X=WIE8DQV5DQ/0G911W)8
M:W-C)B-X03LV4U%H+W=$4C=T:3526D<K,'97:$@T649::F-T<F)1=F%"9%1C
M5&M7,7%*1C!O9VE"9W!75'(Y;"MF13=D='HR5E-Z>D):879R1VIF)B-X03M5
M.4I454IW6F\T,VIV5S`Q27EO*TUC5$569FM(;%AF<%$W-'%J9GEH,'$O,')5
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M<U9D:7)S5F1I<G-69&ER-2MI+TLW>C1K4TED2TI+)B-X03MQ05-*-V%M=W`O
M=C-$845Y:SAT9FUY<VE65S=2<%A!44IE47%/87%70F]S=T%.060X5E$Y,RM8
M+T%/63DT-E-85F<X>GAO<U--.7AB)B-X03M%:$5&1D9F5C=9,G(P:CAS4$PK
M<F%(;T9X8F%N1#9&>$QD4$US9DY(25%X>&]+;$-Y.5509D5P6F9G5FAF-7$K
M6&19,3-23$<S,'%$)B-X03LV>%!"97)02DAZ4E`S66=M:DIR27EJ-U5G-S1H
M5T-A4#5.+TUZ4C4U8FI4.4\Y2S1K:DU8<2MR87-65FE#94Y:0TMM;%`W8TM%
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M<$8U;UHQ339O66)D<G(P1F=4,31:)B-X03M#,W`K<'DO=3-C9C=S1TI3.4AW
M2VAT5"]!3T]B9"\X04='5"]!26EC5E)/2W5X5DQF371L8U@S;'I68D<R54YC
M6%9N8U%1<5-!0SAK)B-X03M42V]Q9&AU8U9E2B\X<7@X.2\X059Q4"]!0U!T
M=BMQ=4<P36AT9%`O041H=%EO-$EB2E9T630T-&9Q,TMY2T9):%%!:W9Z<6%M
M<$1!)B-X03LK1DYQ2W-E4#59*V5Y82]O;R\X04DK,B\V<30R<DPW,WE6-6MK
M+TQ(5$Y&4S%$86YA,V-K.#%T-FM9;VIY5'-+3U<T5G!+=C=72U=+)B-X03M7
M+S5A*V59<#0U5S!B,59J9%=A2G`W8FEW0G)X4#<S;V-B46Y6,S5A.#8S358Q
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M4%)I96Q10BLP-7A+5U191F1I<5)E93<K.#`O>6AQ;#5:4VU#-FAH3%)3<E%L
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M9F)S355+5GDO;D))2C)G.'@V<$YD4E9#5W`P>59'6FI1>'%Z1D-&3&=M;4MR
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M3D-W0G`R,GA69VXK4%!.2"],:B]Y26TO-G(T85%P5&5D+TYS:%AH4&%19U9R
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M;'1F*T%'2W`S6C)D<EI7<U9P85),0F)12T5I:5%5)B-X03M65DA105EQ;&PO
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M8F)L2W`W*T=+=4AN6'DK4T%,=4%K-T%#-G10.$%Q=&EQ3#%.,75D3G4W839T
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M2$=V)B-X03LR;F5A>%92,C-*6$<Q4G9L9E%02V9L>E5N,4-Y=7`U6FYH83-+
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M8U4V37A&5'-E=4YQ<W5V3&-4,F-5.6AB,U9:9VYO;5HT3TQ&>5`U5W(P4&=0
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M4'%/;5-T8F<X04Q75S!%9V186&U#)B-X03M*6$$K>'EP-S`W655)*V(X=61(
M4U=/>$=M-FPK:TAQ=UAN66-'4W)D1S4K0R]R>%9*.5$X:%A%.3%(2&]E;#-B
M4FE#1U-96%AO8W55)B-X03LS3&EY;4TX94)#.2]!,7A6-B\X06PV=DAY5&]Y
M,'!X=%5&4&QG4V@O>DYE,FHX;#-J,TU!=6)D2G).<')C<U5%:4,X:$Q*>4<V
M.&AT)B-X03M567$X-7-B5'E08S9C3&]A4G`X2'%F=59G=4Y4;%=C36]9;59L
M.4QO>'`P<"M/1D-R0C5D.&]30E9.=F]S8DI*3#9J=G%S;S5Q<49&)B-X03M!
M<$=D=6)",5!E;$U642MQ4BM39$U71UDV2'`Q-EIO,411,FUO>E,X1S1T>4QF
M1%56-41A<'!4<G9I<C%Z>6@O>6EE:68X=T9R+WE:)B-X03M806Q.<U9D:7)S
M5F1I<G-667(K66QV8WIA6EEM,V=L=41(94(S5T-.-5=#*VA-=DQJ1T=A;%=!
M-EE1<D8W83DQ2S-G15@V0FML;W9()B-X03LQ2F1/=5=C-W-A,31D9FDO05EO
M9$IE86A*>')O17$X531$:G`Y,G1D:4]2;W4W8C1Q9TY::C%3*W1*,&HP839I
M9&]P15))<D<U445T)B-X03M5:7154&I49D-R,"]Z3$1,3C5C,5='1D=K;&MS
M-VA)-#!"6FU:;VU!54%B:VLU1DQY+S9R<5`X03%B<B]!4#91-W(O<6YK:TEU
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M-T9867$W1EA9<3=&6%EQ-T9867$W1EAK3FYC83-F6$IJ:G8W,7`U<'!&4E)D
M>DE+.#)O0BLX5E)K)B-X03MK238U.'8X06UI5F92=4I,,E9'*TEQ,35+-FXP
M,G)5+W934&A96491;#<U9#%/>6=&>&,K=6M4345$0S9D=FE:95%"0WE%:F)F
M0W%F)B-X03LO;#%B451J530W;%!R2WA3>&5N-CE::715<6%'5&ME;W=&56HX
M=S(T8GI8<7-+>79"16LX2U)O:W-K56%+,7)#>"M&0T%">5EK-UEQ)B-X03LS
M3C5C.5!B.4Q24U9)6#1,-F)U>7)7=DED3V1F:T1I<4MM,#=667)34S4O5'IU
M<V9613%#-5II4U124CA816YA=$LT<6IF26PU9E`U)B-X03MG94=7-W5*-&UT
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M="M1=BM5;5`O349.+WED9WA+=E)C0UA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ
M-T9867$W1EA9<3=&6%EQ-T9867$W1EA9<3=&6%EQ)B-X03LW1EA9<7AM8B]L
M5V9R4V5T*VAF5S5.-G90-G)Y-3$K3&Q8971E=4MR4"M16&8Y<5`O<#!X5C,O
M24QV.$%T4B\Y3VU+<'9O;BM(4%)L)B-X03LO45@Q4#!E6#<W-FHV6$AN5#ER
M,'1Q,#AC5E%7<"\T0BMV>F9P5#E&9G!#<2]74')0,6(Q<3A">#4X+VDK>%-L
M93%-5E%V.$%Y0S<O)B-X03M!3%5F+U1P:7)V.$%K1C,O04=O+RMN5$95>#!4
M+T(O<GEF;U`Y2"MV>"]E+U5V434X2R]T96QV4W5+<'AI<G-69&ER<U9D:7)S
M5F1I)B-X03MR<U9D:7)S5F1I<G-69&ER<U9D:7)S5F1I<B\O,E$]/3PO>&UP
M1TEM9SII;6%G93X*("`@("`@("`@("`@("`@/"]R9&8Z;&D^"B`@("`@("`@
M("`@(#PO<F1F.D%L=#X*("`@("`@("`@/"]X;7`Z5&AU;6)N86EL<SX*("`@
M("`@/"]R9&8Z1&5S8W)I<'1I;VX^"B`@("`@(#QR9&8Z1&5S8W)I<'1I;VX@
M<F1F.F%B;W5T/2(B"B`@("`@("`@("`@('AM;&YS.G!D9CTB:'1T<#HO+VYS
M+F%D;V)E+F-O;2]P9&8O,2XS+R(^"B`@("`@("`@(#QP9&8Z4')O9'5C97(^
M061O8F4@4$1&(&QI8G)A<GD@,3`N,#$\+W!D9CI0<F]D=6-E<CX*("`@("`@
M/"]R9&8Z1&5S8W)I<'1I;VX^"B`@("`@(#QR9&8Z1&5S8W)I<'1I;VX@<F1F
M.F%B;W5T/2(B"B`@("`@("`@("`@('AM;&YS.F1C/2)H='1P.B\O<'5R;"YO
M<F<O9&,O96QE;65N=',O,2XQ+R(^"B`@("`@("`@(#QD8SIF;W)M870^87!P
M;&EC871I;VXO<&]S='-C<FEP=#PO9&,Z9F]R;6%T/@H@("`@("`@("`\9&,Z
M=&ET;&4^"B`@("`@("`@("`@(#QR9&8Z06QT/@H@("`@("`@("`@("`@("`\
M<F1F.FQI('AM;#IL86YG/2)X+61E9F%U;'0B/DY%5R!&3$]7/"]R9&8Z;&D^
M"B`@("`@("`@("`@(#PO<F1F.D%L=#X*("`@("`@("`@/"]D8SIT:71L93X*
M("`@("`@("`@/&1C.F-R96%T;W(^"B`@("`@("`@("`@(#QR9&8Z4V5Q/@H@
M("`@("`@("`@("`@("`\<F1F.FQI/E)2,3$W-38S/"]R9&8Z;&D^"B`@("`@
M("`@("`@(#PO<F1F.E-E<3X*("`@("`@("`@/"]D8SIC<F5A=&]R/@H@("`@
M("`\+W)D9CI$97-C<FEP=&EO;CX*("`@("`@/')D9CI$97-C<FEP=&EO;B!R
M9&8Z86)O=70](B(*("`@("`@("`@("`@>&UL;G,Z>&UP5%!G/2)H='1P.B\O
M;G,N861O8F4N8V]M+WAA<"\Q+C`O="]P9R\B"B`@("`@("`@("`@('AM;&YS
M.G-T1&EM/2)H='1P.B\O;G,N861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1&EM
M96YS:6]N<R,B"B`@("`@("`@("`@('AM;&YS.G-T1FYT/2)H='1P.B\O;G,N
M861O8F4N8V]M+WAA<"\Q+C`O<U1Y<&4O1F]N=",B"B`@("`@("`@("`@('AM
M;&YS.GAM<$<](FAT='`Z+R]N<RYA9&]B92YC;VTO>&%P+S$N,"]G+R(^"B`@
M("`@("`@(#QX;7!44&<Z3E!A9V5S/C$\+WAM<%109SI.4&%G97,^"B`@("`@
M("`@(#QX;7!44&<Z2&%S5FES:6)L951R86YS<&%R96YC>3Y&86QS93PO>&UP
M5%!G.DAA<U9I<VEB;&54<F%N<W!A<F5N8WD^"B`@("`@("`@(#QX;7!44&<Z
M2&%S5FES:6)L94]V97)P<FEN=#Y4<G5E/"]X;7!44&<Z2&%S5FES:6)L94]V
M97)P<FEN=#X*("`@("`@("`@/'AM<%109SI-87A086=E4VEZ92!R9&8Z<&%R
M<V54>7!E/2)297-O=7)C92(^"B`@("`@("`@("`@(#QS=$1I;3IW/C0U,2XQ
M,#$U-C,\+W-T1&EM.G<^"B`@("`@("`@("`@(#QS=$1I;3IH/C,S,RXX,30Y
M-#$\+W-T1&EM.F@^"B`@("`@("`@("`@(#QS=$1I;3IU;FET/E!O:6YT<SPO
M<W1$:6TZ=6YI=#X*("`@("`@("`@/"]X;7!44&<Z36%X4&%G95-I>F4^"B`@
M("`@("`@(#QX;7!44&<Z1F]N=',^"B`@("`@("`@("`@(#QR9&8Z0F%G/@H@
M("`@("`@("`@("`@("`\<F1F.FQI(')D9CIP87)S951Y<&4](E)E<V]U<F-E
M(CX*("`@("`@("`@("`@("`@("`@/'-T1FYT.F9O;G1.86UE/D%R:6%L350M
M0F]L9#PO<W1&;G0Z9F]N=$YA;64^"B`@("`@("`@("`@("`@("`@(#QS=$9N
M=#IF;VYT1F%M:6QY/D%R:6%L($U4/"]S=$9N=#IF;VYT1F%M:6QY/@H@("`@
M("`@("`@("`@("`@("`\<W1&;G0Z9F]N=$9A8V4^0F]L9#PO<W1&;G0Z9F]N
M=$9A8V4^"B`@("`@("`@("`@("`@("`@(#QS=$9N=#IF;VYT5'EP93Y4>7!E
M(#$\+W-T1FYT.F9O;G14>7!E/@H@("`@("`@("`@("`@("`@("`\<W1&;G0Z
M=F5R<VEO;E-T<FEN9SXP,#$N,#`S/"]S=$9N=#IV97)S:6]N4W1R:6YG/@H@
M("`@("`@("`@("`@("`@("`\<W1&;G0Z8V]M<&]S:71E/D9A;'-E/"]S=$9N
M=#IC;VUP;W-I=&4^"B`@("`@("`@("`@("`@("`@(#QS=$9N=#IF;VYT1FEL
M94YA;64^87)I86)?7U\N4$9".R!A<FEA8E]?7RY01DT\+W-T1FYT.F9O;G1&
M:6QE3F%M93X*("`@("`@("`@("`@("`@/"]R9&8Z;&D^"B`@("`@("`@("`@
M(#PO<F1F.D)A9SX*("`@("`@("`@/"]X;7!44&<Z1F]N=',^"B`@("`@("`@
M(#QX;7!44&<Z4&QA=&5.86UE<SX*("`@("`@("`@("`@/')D9CI397$^"B`@
M("`@("`@("`@("`@(#QR9&8Z;&D^0FQA8VL\+W)D9CIL:3X*("`@("`@("`@
M("`@/"]R9&8Z4V5Q/@H@("`@("`@("`\+WAM<%109SI0;&%T94YA;65S/@H@
M("`@("`@("`\>&UP5%!G.E-W871C:$=R;W5P<SX*("`@("`@("`@("`@/')D
M9CI397$^"B`@("`@("`@("`@("`@(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB
M4F5S;W5R8V4B/@H@("`@("`@("`@("`@("`@("`\>&UP1SIG<F]U<$YA;64^
M1&5F875L="!3=V%T8V@@1W)O=7`\+WAM<$<Z9W)O=7!.86UE/@H@("`@("`@
M("`@("`@("`@("`\>&UP1SIG<F]U<%1Y<&4^,#PO>&UP1SIG<F]U<%1Y<&4^
M"B`@("`@("`@("`@("`@(#PO<F1F.FQI/@H@("`@("`@("`@("`\+W)D9CI3
M97$^"B`@("`@("`@(#PO>&UP5%!G.E-W871C:$=R;W5P<SX*("`@("`@/"]R
M9&8Z1&5S8W)I<'1I;VX^"B`@("`@(#QR9&8Z1&5S8W)I<'1I;VX@<F1F.F%B
M;W5T/2(B"B`@("`@("`@("`@('AM;&YS.GAM<$U-/2)H='1P.B\O;G,N861O
M8F4N8V]M+WAA<"\Q+C`O;6TO(@H@("`@("`@("`@("!X;6QN<SIS=%)E9CTB
M:'1T<#HO+VYS+F%D;V)E+F-O;2]X87`O,2XP+W-4>7!E+U)E<V]U<F-E4F5F
M(R(*("`@("`@("`@("`@>&UL;G,Z<W1%=G0](FAT='`Z+R]N<RYA9&]B92YC
M;VTO>&%P+S$N,"]S5'EP92]297-O=7)C945V96YT(R(^"B`@("`@("`@(#QX
M;7!-33I$;V-U;65N=$E$/GAM<"YD:60Z03`R040Y03@Y,D5!130Q,4$X-3!$
M-S=%,C$R-3`Q130\+WAM<$U-.D1O8W5M96YT240^"B`@("`@("`@(#QX;7!-
M33I);G-T86YC94E$/GAM<"YI:60Z03`R040Y03@Y,D5!130Q,4$X-3!$-S=%
M,C$R-3`Q130\+WAM<$U-.DEN<W1A;F-E240^"B`@("`@("`@(#QX;7!-33I/
M<FEG:6YA;$1O8W5M96YT240^>&UP+F1I9#I$.#(P1D4R14(T-S%%,C$Q.#@Y
M.$4Y-C@P1D1%,D$R,3PO>&UP34TZ3W)I9VEN86Q$;V-U;65N=$E$/@H@("`@
M("`@("`\>&UP34TZ4F5N9&ET:6]N0VQA<W,^9&5F875L=#PO>&UP34TZ4F5N
M9&ET:6]N0VQA<W,^"B`@("`@("`@(#QX;7!-33I$97)I=F5D1G)O;2!R9&8Z
M<&%R<V54>7!E/2)297-O=7)C92(^"B`@("`@("`@("`@(#QS=%)E9CII;G-T
M86YC94E$/G5U:60Z8S$V9&8U86$M-&$W-RTT8V4V+6$X.&,M9F9D8C(R,CAA
M8F4T/"]S=%)E9CII;G-T86YC94E$/@H@("`@("`@("`@("`\<W12968Z9&]C
M=6UE;G1)1#YX;7`N9&ED.D(Q.#)#04)&049%-44T,3$X1#4W0S(T,#`S034Y
M,S`V/"]S=%)E9CID;V-U;65N=$E$/@H@("`@("`@("`@("`\<W12968Z;W)I
M9VEN86Q$;V-U;65N=$E$/GAM<"YD:60Z1#@R,$9%,D5"-#<Q13(Q,3@X.3A%
M.38X,$9$13)!,C$\+W-T4F5F.F]R:6=I;F%L1&]C=6UE;G1)1#X*("`@("`@
M("`@("`@/'-T4F5F.G)E;F1I=&EO;D-L87-S/F1E9F%U;'0\+W-T4F5F.G)E
M;F1I=&EO;D-L87-S/@H@("`@("`@("`\+WAM<$U-.D1E<FEV961&<F]M/@H@
M("`@("`@("`\>&UP34TZ2&ES=&]R>3X*("`@("`@("`@("`@/')D9CI397$^
M"B`@("`@("`@("`@("`@(#QR9&8Z;&D@<F1F.G!A<G-E5'EP93TB4F5S;W5R
M8V4B/@H@("`@("`@("`@("`@("`@("`\<W1%=G0Z86-T:6]N/G-A=F5D/"]S
M=$5V=#IA8W1I;VX^"B`@("`@("`@("`@("`@("`@(#QS=$5V=#II;G-T86YC
M94E$/GAM<"YI:60Z1#@R,$9%,D5"-#<Q13(Q,3@X.3A%.38X,$9$13)!,C$\
M+W-T179T.FEN<W1A;F-E240^"B`@("`@("`@("`@("`@("`@(#QS=$5V=#IW
M:&5N/C(P,3,M,#(M,#A4,3(Z,C(Z,#4K,#4Z,S`\+W-T179T.G=H96X^"B`@
M("`@("`@("`@("`@("`@(#QS=$5V=#IS;V9T=V%R94%G96YT/D%D;V)E($EL
M;'5S=')A=&]R($-3-B`H5VEN9&]W<RD\+W-T179T.G-O9G1W87)E06=E;G0^
M"B`@("`@("`@("`@("`@("`@(#QS=$5V=#IC:&%N9V5D/B\\+W-T179T.F-H
M86YG960^"B`@("`@("`@("`@("`@(#PO<F1F.FQI/@H@("`@("`@("`@("`@
M("`\<F1F.FQI(')D9CIP87)S951Y<&4](E)E<V]U<F-E(CX*("`@("`@("`@
M("`@("`@("`@/'-T179T.F%C=&EO;CYS879E9#PO<W1%=G0Z86-T:6]N/@H@
M("`@("`@("`@("`@("`@("`\<W1%=G0Z:6YS=&%N8V5)1#YX;7`N:6ED.C9!
M.#8T1CE%0D8S-T4S,3$Y-S@T.34R0S9&0S-%,S<P/"]S=$5V=#II;G-T86YC
M94E$/@H@("`@("`@("`@("`@("`@("`\<W1%=G0Z=VAE;CXR,#$S+3$P+3$X
M5#$T.C`R.C,X*S`U.C,P/"]S=$5V=#IW:&5N/@H@("`@("`@("`@("`@("`@
M("`\<W1%=G0Z<V]F='=A<F5!9V5N=#Y!9&]B92!);&QU<W1R871O<B!#4S8@
M*%=I;F1O=W,I/"]S=$5V=#IS;V9T=V%R94%G96YT/@H@("`@("`@("`@("`@
M("`@("`\<W1%=G0Z8VAA;F=E9#XO/"]S=$5V=#IC:&%N9V5D/@H@("`@("`@
M("`@("`@("`\+W)D9CIL:3X*("`@("`@("`@("`@("`@/')D9CIL:2!R9&8Z
M<&%R<V54>7!E/2)297-O=7)C92(^"B`@("`@("`@("`@("`@("`@(#QS=$5V
M=#IA8W1I;VX^8V]N=F5R=&5D/"]S=$5V=#IA8W1I;VX^"B`@("`@("`@("`@
M("`@("`@(#QS=$5V=#IP87)A;65T97)S/F9R;VT@87!P;&EC871I;VXO<&]S
M='-C<FEP="!T;R!A<'!L:6-A=&EO;B]V;F0N861O8F4N:6QL=7-T<F%T;W(\
M+W-T179T.G!A<F%M971E<G,^"B`@("`@("`@("`@("`@(#PO<F1F.FQI/@H@
M("`@("`@("`@("`@("`\<F1F.FQI(')D9CIP87)S951Y<&4](E)E<V]U<F-E
M(CX*("`@("`@("`@("`@("`@("`@/'-T179T.F%C=&EO;CYS879E9#PO<W1%
M=G0Z86-T:6]N/@H@("`@("`@("`@("`@("`@("`\<W1%=G0Z:6YS=&%N8V5)
M1#YX;7`N:6ED.C9".#8T1CE%0D8S-T4S,3$Y-S@T.34R0S9&0S-%,S<P/"]S
M=$5V=#II;G-T86YC94E$/@H@("`@("`@("`@("`@("`@("`\<W1%=G0Z=VAE
M;CXR,#$S+3$P+3$X5#$T.C`T.C`V*S`U.C,P/"]S=$5V=#IW:&5N/@H@("`@
M("`@("`@("`@("`@("`\<W1%=G0Z<V]F='=A<F5!9V5N=#Y!9&]B92!);&QU
M<W1R871O<B!#4S8@*%=I;F1O=W,I/"]S=$5V=#IS;V9T=V%R94%G96YT/@H@
M("`@("`@("`@("`@("`@("`\<W1%=G0Z8VAA;F=E9#XO/"]S=$5V=#IC:&%N
M9V5D/@H@("`@("`@("`@("`@("`\+W)D9CIL:3X*("`@("`@("`@("`@("`@
M/')D9CIL:2!R9&8Z<&%R<V54>7!E/2)297-O=7)C92(^"B`@("`@("`@("`@
M("`@("`@(#QS=$5V=#IA8W1I;VX^<V%V960\+W-T179T.F%C=&EO;CX*("`@
M("`@("`@("`@("`@("`@/'-T179T.FEN<W1A;F-E240^>&UP+FEI9#I!,#)!
M1#E!.#DR14%%-#$Q03@U,$0W-T4R,3(U,#%%-#PO<W1%=G0Z:6YS=&%N8V5)
M1#X*("`@("`@("`@("`@("`@("`@/'-T179T.G=H96X^,C`Q-2TP-"TR-%0Q
M,3HT,CHP.2TP-#HP,#PO<W1%=G0Z=VAE;CX*("`@("`@("`@("`@("`@("`@
M/'-T179T.G-O9G1W87)E06=E;G0^061O8F4@26QL=7-T<F%T;W(@0U,V("A7
M:6YD;W=S*3PO<W1%=G0Z<V]F='=A<F5!9V5N=#X*("`@("`@("`@("`@("`@
M("`@/'-T179T.F-H86YG960^+SPO<W1%=G0Z8VAA;F=E9#X*("`@("`@("`@
M("`@("`@/"]R9&8Z;&D^"B`@("`@("`@("`@(#PO<F1F.E-E<3X*("`@("`@
M("`@/"]X;7!-33I(:7-T;W)Y/@H@("`@("`\+W)D9CI$97-C<FEP=&EO;CX*
M("`@("`@/')D9CI$97-C<FEP=&EO;B!R9&8Z86)O=70](B(*("`@("`@("`@
M("`@>&UL;G,Z17AT96YS:7-&;VYT4V5N<V4](FAT='`Z+R]W=W<N97AT96YS
M:7,N8V]M+VUE=&$O1F]N=%-E;G-E+R(^"B`@("`@("`@(#Q%>'1E;G-I<T9O
M;G1396YS93IS;'5G/@H@("`@("`@("`@("`\<F1F.D)A9SX*("`@("`@("`@
M("`@("`@/')D9CIL:2!R9&8Z<&%R<V54>7!E/2)297-O=7)C92(^"B`@("`@
M("`@("`@("`@("`@(#Q%>'1E;G-I<T9O;G1396YS93I&;VYT2VEN9#Y/<&5N
M5'EP92`M(%14/"]%>'1E;G-I<T9O;G1396YS93I&;VYT2VEN9#X*("`@("`@
M("`@("`@("`@("`@/$5X=&5N<VES1F]N=%-E;G-E.D9A;6EL>3Y!<FEA;#PO
M17AT96YS:7-&;VYT4V5N<V4Z1F%M:6QY/@H@("`@("`@("`@("`@("`@("`\
M17AT96YS:7-&;VYT4V5N<V4Z3W5T;&EN949I;&53:7IE/C`\+T5X=&5N<VES
M1F]N=%-E;G-E.D]U=&QI;F5&:6QE4VEZ93X*("`@("`@("`@("`@("`@("`@
M/$5X=&5N<VES1F]N=%-E;G-E.D9O=6YD<GD^36]N;W1Y<&4@5'EP;V=R87!H
M>3PO17AT96YS:7-&;VYT4V5N<V4Z1F]U;F1R>3X*("`@("`@("`@("`@("`@
M("`@/$5X=&5N<VES1F]N=%-E;G-E.E9E<G-I;VX^-2XQ,#PO17AT96YS:7-&
M;VYT4V5N<V4Z5F5R<VEO;CX*("`@("`@("`@("`@("`@("`@/$5X=&5N<VES
M1F]N=%-E;G-E.DME<FYI;F=#:&5C:W-U;3XP/"]%>'1E;G-I<T9O;G1396YS
M93I+97)N:6YG0VAE8VMS=6T^"B`@("`@("`@("`@("`@("`@(#Q%>'1E;G-I
M<T9O;G1396YS93I&;VYT4V5N<V5?,2XR7T-H96-K<W5M/C(U.3`Y-#4X-3`\
M+T5X=&5N<VES1F]N=%-E;G-E.D9O;G1396YS95\Q+C)?0VAE8VMS=6T^"B`@
M("`@("`@("`@("`@("`@(#Q%>'1E;G-I<T9O;G1396YS93I#:&5C:W-U;3XR
M-3DP.30U.#4P/"]%>'1E;G-I<T9O;G1396YS93I#:&5C:W-U;3X*("`@("`@
M("`@("`@("`@("`@/$5X=&5N<VES1F]N=%-E;G-E.E!O<W138W)I<'1.86UE
M/D%R:6%L350\+T5X=&5N<VES1F]N=%-E;G-E.E!O<W138W)I<'1.86UE/@H@
M("`@("`@("`@("`@("`\+W)D9CIL:3X*("`@("`@("`@("`@/"]R9&8Z0F%G
M/@H@("`@("`@("`\+T5X=&5N<VES1F]N=%-E;G-E.G-L=6<^"B`@("`@(#PO
M<F1F.D1E<V-R:7!T:6]N/@H@("`\+W)D9CI21$8^"CPO>#IX;7!M971A/@H@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@"B`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`*("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@(`H@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@"B`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@
M("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`*("`@("`@
M("`@("`@("`@("`@("`@("`@("`@"CP_>'!A8VME="!E;F0](G<B/S[_VP!#
M``$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0'_VP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MP``1"`&]`E`#`1$``A$!`Q$!_\0`'P`!``$%`0$!`0$```````````<%!@@)
M"@0"`PL!_\0`91```00"`@``"`<*"@,*"@@'!`(#!08``0<("1$2$Q05&5@6
M%WB7F-;8&"$W.#E7=[>XUR(Q-E5VDI26MM4D0;4C)5%6:'69I]3G)C(S-%-9
M<G.RTPHG*$)QD:BT-4=286*5IO_$`!@!`0$!`0$````````````````!`@,$
M_\0`.A$``@`#`@L&!04!`0$!`0````$"$2$Q40,2$T%287&1L='P,F*!DJ'2
M<J*RP>$B,T*"\<(CXM-3_]H`#`,!``(1`Q$`/P#OXP!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!J[
M\,X"%)^#>Y_C9(060CI":X!!/`.':+"-"+[*</L%"%BOH<8)%)8<<9('>;6T
M\TM;;B%(5O6]0]J'XEQ$Y3:HU#$TUF_2SD`^('@C\RG$GS<4[_)L]F)!HP^5
M<CEE,)__`$C\T7,?$#P1^93B3YN*=_DV,2#1A\JY#*83_P#I'YHN8^('@C\R
MG$GS<4[_`";&)!HP^5<AE,)__2/S1<Q\0/!'YE.)/FXIW^38Q(-&'RKD,IA/
M_P"D?FBYCX@>"/S*<2?-Q3O\FQB0:,/E7(93"?\`](_-%S'Q`\$?F4XD^;BG
M?Y-C$@T8?*N0RF$__I'YHN8^('@C\RG$GS<4[_)L8D&C#Y5R&4PG_P#2/S1<
MSHK_`/H_59K=1I?<2%JE?@ZQ#M<WT1]J)KT2!"QK;Q'#M26^\V#&CC"H=?7_
M``WG$M:6XK^$O:M_?SRX5)1R224E90Z)N))Q-MWMMNUWG0QG,HP!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`:Q?#'_DZ^<_Z2
M=>?VF>',U!VX?BAXH9G\,7TLY4<]QYR<N*N58VA5:_5PQJV"$6Y<.0U,TN9C
MH:2*%B82Z1)-,G79*+E6BJ;8W[6#*3@>AR&WB*Q&I>CC'=B&1.8H6VG2D[9Y
MY54LZD]X)0+YHX8E'CHZ"Z^QBG9X1J*#$2#!/GC+<B.61H>(B%A1*2]$1=AM
M_&'DV0;R+=;A..=KL1A)$^4)O.+%*L7C7NS>Y.F9O=9J[JOXW:V7Y*<X<2$,
MS@OW,K>HS3-OG(P!^J08<;#_``F9XIINY!IF.CPY"+C!;#1;#6A2=S9Y,;*7
M19HTFY98YH1]BQ:5:*UUEC<TZ+-XC-9X[N7J>*<[)<734GN.OW#DN6/&S1#Y
MD446"T4(2)R]?N0R(]V/+$;89)*C;7\!Y)PAG1(0:I5Y#;J?-QSK$BM45TO*
MEQ4Z"=+/'Q?7@0U=>6>-;'0$U.%XF@Z[-,`5L<6S!1L"-))+AX2D`R)94B''
M,2INY:5C+[*$I*,>\_NW!-E>>3`Q:0M).<YTK3Q<MRDO`G777I(QSS0-]G@&
M_P"3W<C]-7'_`.IJI9Y,-V_!':#LKQXLW^9R-#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!K%\,?^3KYS_I)UY_:9X<S4';A
M^*'BAF?PQ?2SE1SW'G+^C>+.19B!;L\73IT^O.);6F8&#6Z#I#R+:ME:WD[\
MEI#R:)</-+<\A+JJ[)(1M2V/)5,93E.O^<UO!5^/(#D"%L,!R##4:?F1:/8H
M*RN[U&2#8+ST(3'6%H)TM(^_$HD3T5_:&-.D:"*:+;:4TXVI4<FFIJJ:WH*E
M;C(6([$WZS\H4>[#\3B62T-U3=1+A4MR&Z_R$F1L=IL;D[-QJ!4Z?E)'D68$
MMY93!K<>198)6]CMME.L#9<*2:QI*<]DDE3/8I>-)4+.S/\`Z]]68E30TM(E
M$R[T1.(<($#E94R0T6:X42>AM14X^6L,?2!IF0<=+&VYY:$^D)8246I/GG-K
M;J_'@B'K<X_N[)@@#U6FVC3A!SA!G0'VW7QRQ2C0_(2M.O\`=S!@BG`Q-^(L
MI3*FAV''=I1M-7]=,%GY0;[/`-_R>[D?IJX__4U4L\F&[?@CM!V5X\6;_,Y&
MA@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`UB
M^&/_`"=?.?\`23KS^TSPYFH.W#\4/%#,_AB^EG*CGN/.9)UKM#?J95A:G6!8
M<:.?I;M*LR)(=<DQ8@M?&*."\H72Q&@%1@?("20](\^^W8ZW$3^B];44`YEP
M)VWS6JSENH"[I7N[S)*FOR*AZD`8\>S)I=B@9^/;&,]*-.DW1!&++H)CU\:>
M\3*)2/Y*-^,>*U%A$&#$S)PV5E9UL_V8GGSVS*:7W)Y<+&KHJ6*F"W7=UGS7
MJZ,E`M2FJEJ':B4S#+4YH8I*A:_""'I98%T>U&#/D>4=IPM;$5[_`-K<#]B>
MY_+CK<4R&%2X@>'AXV%'$C(:2;"?&B6KVD)PX$J<+#,>;)Y#GY#:'F%!^G)`
M=2*EL9QI]B+7:WFSRU:D6?6_F>Q'<[D%]]K4K6ZB6`-/5FS!BM_"5\F/E:<1
M"'P/H$C8K%9'V!WI"MPFK`XXA^4FXD=Z'<E!QEBJ#F34G)N;G6F><[$E8W+6
M)UGUFOV&'V="&^SP#?\`)[N1^FKC_P#4U4L\F&[?@CM!V5X\6;_,Y&A@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`QT[8]<H+
MMGP#>^`;):)^EQ-X=J!+EHJ[,21.PYE+O59OT40"/.@R42_Y<M5@6"6C@2&G
M`WB$:2ES:%IJ<FFK4Y[A^5O4C4I[!JI>^-SU_<K@[]WN=,M'JW$Q8=%;XO</
M8-5+WQN>O[E<'?N]QEH]6X8L.BM\7N'L&JE[XW/7]RN#OW>XRT>K<,6'16^+
MW$1V/P+L)#<U<6<9,=N.;'8J^TGENSR$@[2^%?6`1?'I_&`D:.'Y%"2-Z.<B
M]2"CO/LN.>4&'YA;6O/Z=9:/5N+BP2;Q5FSQ:]>HESV#52]\;GK^Y7!W[O<9
M:/5N)BPZ*WQ>X>P:J7OC<]?W*X._=[C+1ZMPQ8=%;XO</8-5+WQN>O[E<'?N
M]QEH]6X8L.BM\7N-A71?HI6NC=?Y/A8'DZ[\IE\IW"*N$U,W>/J<84"3#UB-
MJH8$>+4(2#`2)H&,:><6^.Z2LAQS>W?(\E.L11.)S=I:9E)>/W;,[,R!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`B#GKG7C
M?K3Q/:^:^6Y61AN/J9ZB3.R$17YRU2;;MELL/480<&OUH"4G)0D^P3\4`T/'
M@$NZ43YU:4LMN.(`UY>VVZ#_`/&/G+Z+78G]VV:Q(]&+ROD*7P^:'F/;;=!_
M^,?.7T6NQ/[ML8D>C%Y7R%+X?-#S'MMN@_\`QCYR^BUV)_=MC$CT8O*^0I?#
MYH>9!UK\,%TIE.P7#%]"E^;G:Q3^/.<("?.WUEY_;<$E+I)<.DUUA`;G'B3"
MDF,U*=4X\,PZR)L1"2ELJ)&TZQ(]&+ROD6:D_P!4-J_E#KUDX^VVZ#_\8^<O
MHM=B?W;8Q(]&+ROD2E\/FAYCVVW0?_C'SE]%KL3^[;&)'HQ>5\A2^'S0\Q[;
M;H/_`,8^<OHM=B?W;8Q(]&+ROD*7P^:'F9C=6NY7`_<B#N=@X*F[/+A4"Q!U
M:U,VSC^[\=R<;,R$,'/ALZB;U`P$B4P1%'BDMF"C/";\YMOSWG4+0F--4::>
MN@W>#3X&4V0#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8!K%\,?\`DZ^<_P"DG7G]IGAS-0=N'XH>*&9_#%]+.5'/<><G+BJ%
MXZDZM?B;2Y6W;.$N'1!AVNU2M3"'K;\)<W[+8(1Z):?>F[;%3@5("AX%P270
M8Q,2&]UR4:2_(068FTU*<I.Q3K-2GJE/../^_@DJ5XAZ[`(ED,<WO&/MQOG(
M5P;4(2R4\S"\MR[,H4VT[KS;-@W1J(")5G"`YZL2/*$?&V(M9\0ZP=E11Z/V
MT=MDW/8Y%I?QU_C>79(\(]7VFI<03F]"2(IZW%CGIGZS(KD0F(+BHNL@^BI9
MCX]^0;*G^1C#$0\F<Q*.5357!D$2Q(I2V-'HVRS.EL_M;*T<?\_)_LEQ3U@G
MB1X^`Y/A:OY4DK3AI4YLA*HY/+5\B2G5E2YK4>R@/BP2N6$=C;.S)0M@!@-Q
MTZ9V&5,:.YOPU+98YH4OK^7]I7D177C_`(2B./TS-4Y,,F[JR!6R2(1]47L(
M@H^$I$A.B"-#-),;W'25LFXII3K[NT*H4L\]IW<JVU$:3B;DU2M:WN4]JEO(
M8YYL&^SP#?\`)[N1^FKC_P#4U4L\F&[?@CM!V5X\6;_,Y&A@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`UB^&/_)U\Y_TDZ\_
MM,\.9J#MP_%#Q0S/X8OI9RHY[CSC`,K>.)'K"[18^$Y(CYL2WDQKHTC9HM\K
MS`2G.7^/C-(3'-5>3>W*?%T-<$IL(\F2,!%K-C4UF5G#(W68>/-XMDU]+5]\
MJ"_TZV%YA.=-0QI'SI4F>5%5BT#Q[+S%GT-,34O3[HAIR/+U5$$2!4/>7::U
M22;&+5A=5/UC*6;0U@%8C5QY34IRLS2:XJ<[7.2LJ6G6S[.11;8OK!-G7@O<
MS%A-CPDFYQR'0:Y=JX*D9Q7()->B9],_$RRIR]QI".-(R5))W`UDN`*M*WKA
M.6(`"8/JQJ6ZVY-NS71.KW:T0PYS8&`;[/`-_P`GNY'Z:N/_`-352SR8;M^"
M.T'97CQ9O\SD:&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!
M@#`&`,`8`P#6+X8_\G7SG_23KS^TSPYFH.W#\4/%#,_AB^EG*CGN/.?7D+\6
ME>2KR=_Q;\G?BWXO'X_%OQ>+?B\E7\7_`/3O_@W@$W\(WVAT0BZ.7JM/V1N<
MJ^HJ$0Q#0TQZME=2H!>SEIF#!$B)]#'(8])$VZ3XW=->;\TM:DYB3<I.75`2
M%*<M\12/`5"X]%KDA&<D51X*1*LX_']3(03*Q4OR7+-H?L)%M5)S,7-MV2GQ
M4B(]78IP1N&4:0[86(:,A#XH6HFYT>MZMTJRKQH(\YNN_'5[GF)'CRMETV&!
M$:0)`.0\0,EPVPR<_<+>\5(1TF\M0\'8Y_=3IC+HI3Q-#AH)<@3$FA*C';"F
ME6KSO<EZ*;LKF!".DJWOQ:2K>_)VKQ:UO>_)3K:MJ_\`9TG6U;W_`!:UK>]_
M>UF@?.`;[/`-_P`GNY'Z:N/_`-352SR8;M^".T'97CQ9O\SD:&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P#6+X8_\G7SG_23
MKS^TSPYFH.W#\4/%#,_AB^EG*CGN/.9GTCM%"43CD*AII+5D%/I/J:5244W'
MKK]C"1S@%&3E?*]",=V9M?*`<P<1O;:"@2K/5UL);/%E1.;@GGDYN6QXLUZ2
M_!9]:\S+C<[><?B:DAZSU_J%9B3SF"%P`054+B"PGM/-R,=+L251+]9M(C]`
M1#'GO$(>@/UY)@+G'-$H8C=L3>O/FE)IK60MP/LWQO".TTNK]?Z?7I.L*J>R
M9<5F#(ESTP+\4]*K1)&UP@D:2G7XP@[<ZPIJ7`7-FQ:"7XP01"F)$[8IU=Z5
MO+46=4[I>G,\YG8CAY8T:('UOIWF!Z]"PLMLP>JZ,FGH=N\N)D')*.IH)<9(
MG%6*KZEY2%W'GR[--:T6YIF34$%<6*OZG6=])RURS.F:=!/5U6Z7Y+I5VDXL
ME)*/>.X<`CU14K4"09YH>I^N&:Y5-1NY*FLL050@(\2!MT<!*P!</%CQ83>K
M-LIXG0@$J'9)B1*<G?36['7.G7PEK3:KM1@?G0AOL\`W_)[N1^FKC_\`4U4L
M\F&[?@CM!V5X\6;_`#.1H8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`
M8`P!@#`&`,`8`P!@#`+*Y%XVX^Y>IDWQSRI2*KR/0+*T(S8J7=X&,L]6G&0)
M`26":EH*8&,C3VQ)0`&1&24,[IDT08EO27F6UI`Q/]F-X.;W%>I7T?\`B_ZL
MX+-WO>Q[,;P<WN*]2OH_\7_5G`F[WO8]F-X.;W%>I7T?^+_JS@3=[WLQXN?@
MY.@(G9O@6NB]*^K8T!-\8=A9&8A6.#.-VHN4D(*6X+:A39`%%=T,65$MS,NW
M'/OMK=#1)GI'4WHM_2Q9N3J[5GVF0_LQO!S>XKU*^C_Q?]6<$F[WO8]F-X.;
MW%>I7T?^+_JS@3=[WL>S&\'-[BO4KZ/_`!?]6<";O>]F0?#?7K@?KO$3$!P)
MPWQCPS!V&41-ST1QA2*[1XV9F&@V8]N4E`ZY'QPYT@V"..&@LEMQ](S+3&EZ
M;0E.A&V[7/:3%@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`PN<@N0^4^?N<H%KG[ESCBL\?!\5AUZM\>C
M\2LQJ7+)6#YF9/-(N?%=TF2C2S/-Z\>Y5`K+#+3;`K7\-2Q:)*DYUK.]K,U<
M7K]SU=_>Z[.?UNO7V?<":N7KS'W/5W][KLY_6Z]?9]P)JY>O,?<]7?WNNSG]
M;KU]GW`FKEZ\Q]SU=_>Z[.?UNO7V?<":N7KS'W/5W][KLY_6Z]?9]P)JY>O,
M?<]7?WNNSG];KU]GW`FKEZ\Q]SU=_>Z[.?UNO7V?<":N7KS(5['\:\J\8<!\
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MJ_.QUB)/2)OX@$>CF;=C!?-$_P`/S:=.:\A7E^/035R]>9.'W/5W][KLY_6Z
M]?9]P)JY>O,?<]7?WNNSG];KU]GW`FKEZ\Q]SU=_>Z[.?UNO7V?<":N7KS'W
M/5W][KLY_6Z]?9]P)JY>O,?<]7?WNNSG];KU]GW`FKEZ\Q]SU=_>Z[.?UNO7
MV?<":N7KS'W/5W][KLY_6Z]?9]P)JY>O,?<]7?WNNSG];KU]GW`FKEZ\R"8K
MC?ED_LMR'Q8[W![)HJM9X-X:Y`C$-#]=M2'P@O-^YWKDXH@Q?7USSH>XWCRN
MZ$&TTCT=])KOG'/2O);%I)45KOU:R</N=;U[X?:+_P#3E]G7!)JY>O,?<ZWK
MWP^T7_Z<OLZX$U<O7F6Z7U(EI"UUZ[G]K>SI5HJD39(.ORBR>`6U1T7;WJ^1
M8A4##\`,A$:DG:M`J4Z6.0\/Z`G0;@Z7RM/A/4O7F71]SU=_>Z[.?UNO7V?<
M":N7KS'W/5W][KLY_6Z]?9]P)JY>O,?<]7?WNNSG];KU]GW`FKEZ\Q]SU=_>
MZ[.?UNO7V?<":N7KS'W/5W][KLY_6Z]?9]P)JY>O,@_A/CCE>^.\Q(G^WG9!
M6J1SA=Z#!^AL=>AMIK\")`O1Z2__`*@%^D&:7(D^>)_@><UY&O-I\G[XM*45
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M7F5#JM/6N?XD*7<[7+WB<K_,O9B@)M,^-`"S<M!<9=D^6>.:FN6:J\+78)<@
M-5*M"@E$Q\)'H->&68\SLE]YQ8.WP7JD9&8(,`8`P!@#`&`,`8`P!@#`&`,`
M8`P#7'X0?OS)='!^'$0W#8_,,KR[,7*,8#,Y(WQL%!,4V(BY4HMZ010[\[(.
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MKG(Y\!)S@*.N@BRT#;>\ZH=)0^W=)\G3J/'Y6F1PG<\S]I5'`FG^JW17N)2]
MN]R7[DM8^E67]FS&1PG<\T7L)CP=[RKW#V[W)?N2UCZ59?V;,9'"=SS1>P8\
M'>\J]P]N]R7[DM8^E67]FS&1PG<\T7L&/!WO*O<3[U4\+[9^Q78_BS@"R]7H
MWC=GE)ZZ"`7&+YW<OJHLVG\>VGD%395=?X;I/GQY`2JDQZ2&IQ"Q7R67MCOH
M2M&9B@B@DXL63<J-NLF\Z69,J<,4Y3HIU26=*]WFW?EJ^M<5<5<F<H/1CDTS
MQOQ]<[Z[#-%)!=EFJ?7)*PN1C9RV"DAN'ICMBH*4*2D=3NGML/:1MM6"JK2O
M-``'AZN1I$$*08Z25O3!X@QC.G>U127--%,H?;TXE/6Y:4KTA>M+TE2M:5X]
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MG\LWOB>P\`A\0'4[CL+D,:7CN7%<EC2XA5E;K;D<Z,[QEQ^[&/LO.I)2^EV0
M0\WXV]MM*UI6\1010244JW-OBD:334U.CE52^[)W[_=SB^D/%5$Y$CN+F^6I
M2_<MQ'%,=6B+Q\7P@A$E1^0;R[-%V#51NSGF10N/RPT`M0:UD$R#"]DL-LK\
MO*3;25K<E.BOK1W7"B3;L5U<Z5ZO-67MWN2_<EK'TJR_LV9UR.$[GFB]AG'@
M[WE7N'MW>2_X_N):QXM?\JLO[-F,CA.YYHO8,>#O>5>X>W>Y+]R6L?2K+^S9
MC(X3N>:+V#'@[WE7N(FC/#)<H@<Z73F+?3RJ.L6WB;C#C-N`UV>.2\"]Q[<.
M7;2[+KD?N=5((;E4<GLA-A)#:4(J'=?421HU#0S(X3N>:+V%QX)2_5:_XK5W
MM1+/MW>2_<EK'TJR_LV8R.$[GFB]A,>#O>5>X>W>Y+]R6L?2K+^S9C(X3N>:
M+V#'@[WE7N'MWN2_<EK'TJR_LV8R.$[GFB]@QX.]Y5[C;IT8[6O=S>`([FXG
MC[7&!A-TY"I1U01;=7=D,WC^W2E3)+'L?P;J6S1Y%V,4:RE<"$X.A[3*].J1
MMQ7-IIM.U4I5?;@:^Z3WJ9C!WU\)G-],>6Z-Q-7N``^7SK?QR7R(5+R/+JN-
M!H@0>S/UIJ-:&:XRY`=DWWGF%E+?4['H9;VEO3;JM[5JPP11S4,J7MK@F&TE
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M*.?2UVI*4[MD1A;[NFTJZW(2IS:&U:0E2TZVKQ:VI.OOZ/`X15_1YHO8%'"Z
M?JW+W'0)Q5>F^4.+^-^2V8U<,SR)0J?>FHATI)SD4W;:]'3Z(UPU#`J2U@ID
M-"K*2,.DA36W=,-:7IM/(TZ-JXP^\(-W@.Z-T7BNUQ7$S/+\KRGRHKC("#*O
M_P`7(<4MKCV]\A$314VFEWIQ]"`Z,1'M`-0Z%.D2#+RC&FV%H<L,+B:A4IN]
MR5D\R?`42;=BNKG2O5YK(]N]R7[DM8^E67]FS.F1PG<\T7L,X\'>\J]P]N]R
M7[DM8^E67]FS&1PG<\T7L&/!WO*O</;O<E^Y+6/I5E_9LQD<)W/-%[!CP=[R
MKW$30WADN48KG3D;F)73RJ/,7OB;A;C1N`UV>.;>C7N)KASW:7Y=<COKJM!3
M<XCFD<)H)(;"@%5YY]9)>I)#03(X3N>:+V%QX)2_5:_XK5WM1+/MWN2_<EK'
MTJR_LV8R.$[GFB]A,>#O>5>X>W>Y+]R6L?2K+^S9C(X3N>:+V#'@[WE7N'MW
MN2_<EK'TJR_LV8R.$[GFB]@QX.]Y5[C<1TE[.+[A];J7V`>HOQ;$VFP<IULV
MF:L^KDW$2'%G+5YXGD%L674!5_6@LH;2'Y<1Q4#&N,C'M"NLJ<84\YR::;3M
M3:<K*/8N!K9G2>])_<PC[N>%5L'4CL0O@&M]<`.6'A.)Z'RE(6F3YI7QPTRW
M?+/R56PH06'9XGORRUA*XV,,)D')(1*]28[#8?C8<=7J&"*.>+BTE:VK9W0N
MX-J%)N=9V).R6M7F*?MWN2_<EK'TJR_LV9O(X3N>:+V&<>#O>5>X>W>Y+]R6
ML?2K+^S9C(X3N>:+V#'@[WE7N'MWN2_<EK'TJR_LV8R.$[GFB]@QX.]Y5[B+
M>'_#,<H<6U.7K+W3NJ3*Y/E+G+D;1C79\T%++7,/-?('+;$3ME?74K:W(%B[
MMP;QFG4ID'8Y<@@8-!*1&&1PG<\T7L#PD#TLV99E+2)2]N]R7[DM8^E67]FS
M&1PG<\T7L&/!WO*O</;O<E^Y+6/I5E_9LQD<)W/-%[!CP=[RKW%O6W_Z0'>Z
M95+-<);I%!.Q=4KTU99)H'M.^\:Y'P4:3*&(#:>ZY#M.E+'%<2.VZ0PVMW:$
MK>:3O:TQX'")-_HHF^T\W]"PQ0Q-0K&FVDII9W+2.E;.91@#`&`,`8`P!@#`
M&`,`8`P#GG\/#_\`Q/I=_23G3_"%/SK@>WX,D78BVP_<T7YZS@914_DGAX>C
MTJKVZ"F7VXEPIJW0,91:>>+:I)VR3\S'78B].V"$OK)4;%2$!5R*3"E5T:6B
MJZI&KE&HFCV4X:BFVI5L<W-45+)6S<ZVV4!=8]]Z>,S44V=PS;DPP4TX3,[;
M(E42T@`[OE]DD!E@CD]T6.99U*\.DQ([JCBHQZNV064E+(TG3MGDL)+M+5\M
MT.J+;-69JI9^K=>SJVHKY7ZF-`-F`\2V-BUAQD/%@EIBP$Q>F8^D5^M$$G1S
MMY*CCI0R8"LT[(2CT8IV1?L01#K#,G"Z/+2CTO6LYYJ6=5F3KKK/F/\`3N4N
MHMBLFIRR<8778C5CE#5143'`1K$C`RW)MYLBHY3<5R%##1#D=3IFN10J06'T
MK.$*`;>#!#&DC4L)F:LSYG)*ZR<W]A2GJ0#RE9>)[&!4]\<T1ZDRH0C35LTE
M^5>C90E50HK93X>I>VVDE'DWL?D4H7R=@)U6Y"M-.M;+9)&!U#C5QFG=O>I9
MI>,Q3KK;Z$/9H'63X(S\G3UF_H]<OUGWC/`[7M?$]+M\%P1R8.?REY/_`$X<
M]_KJON>S!]B'8<L+^Y%X?2B^^.Z61R%<H2H#&MQJY9PQ3IS@[IBAPXV.+ECU
MC`L;2_(G^@@D)C8QE;;LE(*&`;=:61IQ.FY*9S)C:ZNWF80[)U<@8FNJ;3(@
MEVP4FDSBZ]J(@94FPR-=.]/6!'AJLD0`O8\C)^L72VI*`5,UUQ$UO..L]NJO
MKU=:"L!].>52DO[495$JUNP"@H'EB#='S$-.+KT?"[)&`4#%GVDYDI^OM31<
M<MV*$>E3VP`U,./,>'KJLLX/<OIY<Q(>7./L,)ZQB6[,_N-BM)DARAZ_Q\KD
M1DIF3=,CVFV3HG;;;[)`[4C&.>?:>CWCQ]QSDRBI2C:6NV5D@4J,Z=<P29*0
M_P#P3CS'I/<.(+)6#0[ILAJX`T-+(_D!O(TERS2D8"AY];#.T'CE*6D;SSC5
MQX93JU>EUT@8K9L&7G@Z/RBG4+^D'-7[-7,6<,/V8?C_`.8SI@[8OA_ZA.J/
MM]^*9VA^3MS9^K6S9YCJK5M7$X@:I_):M_\`,$/_`+.&SWJQ;%P/.[7M?$GW
MAJXU6F3\X;:62V=259>B8*Q1]3K=ZD*?-+G("15.AU.VR$3`S#I<)&S566DR
M2%6`/8WY853I8#([TB3<I7WM3H\ZK;)^!";(OD'J9K483-<0VB?D-O"+GE)'
M=B&G4/WFG&60OS%<Y&A8=THRDC7EJLB0D#2X2KR<G#PST;.B,IL,5F4=:I?X
M]5*RO=M<Q:=;=MU+.94(+DCIR+#0<5+\1VPIS<727;48V(VZ459X&I<BQ<V5
M"FN<B,G@1$I9['3Y\Z.T2D298K+PKX,?I4<V$:C;[22K+8VM5LE*=JG;G::N
MGT^=^;=]$\P]8Y&%$K9?&5D%BV$S`:2`X:%3)#!&G\9>JGW#Q[<#)S!,1'5:
MSJ\W(22=EER3"'"]>M),P1BQ7J?WKJI;ZNZLIGZKRF6I-7KJJNO341`\26%$
MF1$2(\/99!^5:DQ9=T'EGT`YP9KDTZ):88E"^%5[97'R.D`1-[:6DQUZ.5*I
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M\Z\5$2.AQ.NM=GDZ-]=D)<KU3</D%0H?$SI$B2!`UB,'CXMJ,HG)Q\O68#</
M65M\@DDE-Z>A]RKD<,6G+IYWM57.RZ@+@C^U/$L:_%EM<`P3Q=>E(\JMDOM5
MM@R#`CN7.0.1VAHDR&K\.J-*]"N,+&-E,LN--[IXP;PI45+E,#S$BTK=;T4L
M[S2>>L]2+/5PO;NUK<>7XVZ_R?7S6==?K)<RJ=QW#1:YJ);]>M5XB%XD?XY9
MFY?;5=.3$PBI%@>Z+5YP1S9U8C&-E>6RN0%*'$_DE-YZ3_5.5OAXOQ6YLW!2
MF11RSRE3>5608>D</05+E7+261%ZJT)`!FE!2DO8_5U=\S7(&+*E76HV0JD.
M+I_9*W"8!XUEK1TT>X_J%-5<4UKS6?DACHI*D*4A:5(6A6TJ2K6TJ2I._$I*
MD[\6TJ3O6];UO6MZWKQ;S8.F_P`"'^(L+^GWLG^N2U9XL)VXMIZ,R^&'Z4:Y
MO#8?CF<._)C/_6I)9TP%L6Q<3.$["^)\$:I\])Q,F!NM%@EA*\W!S/I4S(UZ
MKVB=W(P,G&4Z"B;M7P;%64BW9"CQ9N4=8DP(R6B6XP$V/FGB!Q6Y2/B9N4C,
M8]M*)M*JFVG)TS;["NG5]3ZWU+Y:3XFUHK*3=04M-N1:)U),HA<1#T2?=@V@
M@QB7CYXJ*Y(JI@8<7HYEQDHQUTMAJ,/<88\/6UJ>R<+Z9)=;G]T7P+TBY!59
MVX4^SU1B))L;];!L`#Y!^C7V+7)4[1[4.0B,D]1KTS7[0,AY2-.LN0*_36!1
MY:")DIE5*:3LFUX3MLNW[9&I6]9BPGNK/(WDC&"NP^H5^H1=S=F)0YL!@.),
MHB+\<\2R,J3<2B/B$&K2EOSAA;0J'/01R7_06;CK7;+UEQ$N?I/@1ERCQ7:.
M(;$BL6Q44Y(.,2+R7(8_4B%M</9K!39@?TC33/C?C;/5IZ)(\3>V770%$AO%
M`/BE/Z342FO79/[@A6W_`,D[1_1V;_V:3AV/8^!5:MJXG<3U,_%6ZS_)^X:_
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M`9.-98<3#K94])?""-T_]-7A*E-=M?OJ8IUU3U*?/#].Y4^1E1)BUQ`K,G:_
M1:]%"2@FC(\GD6->J20'RZ[+)':#X^78VI5V4-V8@_=70.P:MF60E^M:[+7J
M<\]\O44EKZ_/H0'RJUQ6U.@;XC?L+L`Y'';D$61_1)C$FU:K**!IA_41"^4,
M74AZO)N(V*XH>0./&4^K;.VF=0XW\M5FQ?>8(QS0.I3P*_Y.WBW]+7<#]LCG
MW/#'VXOBBXL]&9?##]*-/?A>ORC%B^23UR_6CVGSM@/Y_P!?N8PED.V+A":[
M\]!R,IE]5;;('QL)59/4Q-*!B%S?K6%.K=<8F+"CCU%?A:Q:B73(ZVKE9+DR
MKPVBD(B=`%E(DI-@.K$@6(O&.L]FISLFW-9NRZ5GFFQ+KE>>8/J7RB8G;J":
MGYIN$;G2=MS3Y1`POHVI$YE8(4<0>Z_#PF]SLR\.,]&QT9K>R)!!G^B8RD.L
M%TM]+[\Q)R0DQ8JT$"*/+$Q\B$\Y)+D6HOD.IT%+SD;O81H`\ENV#SL<\ZEW
MR@A70RT"2&UL,S**E*O-X-^DI"5NKG(M[[D;E%Z6?!$7!-@-DCL-2TO)-1S*
MFRYKD:`'=?9%W*;:7N1XLM;3C`SIJVTHCE:VOU@UK5RD.N=V[FI"6?K/R9!]
M_H4YQM9':O851[D@W'P\HEZ++T<"^'-Q8LL$XR1YMI2MZ'+0V\E32-H?0ZC7
MEHTAQ>DTU-`QOY^_`1S7^B3D?_!TSDC[$7PQ<&;P?[F#^.'ZD?T0\\)U&`,`
M8`P!@#`&`,`8`P!@#`.>[PZXI1T[TE""&?,-,M?-PH@@K+A!111%4IK(XPP[
M*5NOOONK0TRRTA3CKBDH0E2E:UOK@>WX,D78BVP_<T<R$1+1.A=RD7(QNCFR
M'@MR`1(>C&0Y`R)+=%V0TWZ0V+*QTA&$+:\M+$@"8$[M)(K[:/7.?7CP.!=O
M%]V1QU>X"Y.1STHB'<.\8PA^HJ2:]819T7J2A);8A^HBPPVSM2]=EM@F:BYP
M&//V*_Z/YI68EC)J\&5MH[$4=P;<C+=;6B9:5,#/B[IR,>_=IZ99!XTJ]<BR
M2IBZ0<DY*BCDBC6E$$IXZM[`L8HZ`];"C9,K*A<I*/P5)3;;LKJOI;6@H(/9
M3BM+T$J5ZZ4,QJ%>$)V@.!X_C]R+PE?L<4IJ4VW0%^L03)":"DS!3//>4Y%#
M.,N,G#1QP#$>F_5Y]NKPLLG-UFZ^Y7:GRCQU?ID^$@>MD7(&!5JU&U&O5>E1
MMKGS["R)4CJNT:W"5AB0DHN/L]<<DK*_-+/9?I4M:JVPEO<OXB#34GCRK5MT
MS_:Q7[)A;S"9B'EB99F`&BY$B=(D6X=B%8")=EGY9TG0346S'-M*,<D7#%)$
M;"0RHE9*M,):V[O2,Z3SYK9@_9JOSS\>N68A)=Z*;9+(<DVHTQR/0Q'D1PA[
MZS4,[&2R"7,1`I;FW-(&(E(YEY2'#ADNIJ\'5EX(S\G3UF_H]<OUGWC/`[7M
M?$]+M\%P1R8.?REY/_3ASW^NJ^Y[,'V(=ARPO[D7A]*/<(62`4,<$00&8&0R
M4*6(\X,4,0.XEUD@8AK:76"&7$)<9>;4EQIQ*5HWI2=;S9S-@;G76S6(XUFO
M<X3,K"&1Z.7I@V3GRG//5BUC6-VF2$NR-(DZ;Y!F*/6)MZ8T<EST0F6KT"0^
MPS(DO,\L:2K"IK]*EF:^R;7A-W3>.L^/N9>4?1H1G?,AC(ED+FQZL,[/V%Y;
M0DB*$1*N/1P'IC3^K/!S8`;S@Y`0KTFJ4!GW18T%Z0W,=:*U_:[.M>K,)===
M+.6+%\2W&R4WFR8E+_>)>^T*VS=5=C8^1EIJ*L1P:XVNR"7IIO9X1Y=C:-?A
MHP.2F(0R>988!J@]Z(>D8F&UC).%24FIYM;LU6SKKE:,Q1>4>/\`D.IT+C_D
M5')=EMDY+QS4AR+'#6K<O)\;GG:K]HIVYSU=/2,O"MRT7*0VV_A*)"GBVV`D
MQFQU-#PYI=A:;:Q97.5N9RI7PS-:QUUU?<8EYL&7G@Z/RBG4+^D'-7[-7,6<
M,/V8?C_YC.F#MB^'_J$ZH^WWXIG:'Y.W-GZM;-GF.JM6U<3B!JG\EJW_`,P0
M_P#LX;/>K%L7`\[M>U\2OY2$[<1<@7:F5GDN%I5=FI4WD,.N4UR5B$3"_5CA
M1DB8Q'Z1#I0\1)3K`IR(L-92//[CRG4B'-CO-MYB2;AF[)N5*[_4$P*[`<>E
MQ-FD@NM%042_R#-243,HJU%?AJJ+9*Y?(>CTI8C''S4=(-QXS\7+C!3&B7)R
M7H,A.^;>,D2W(G.*Z3C?9LFU.4IN::WUMWW8L^V5M*]4/+(\[<3QA%BC">M,
M!'F^H[K5TPDN+6$:JLS)S(CHYB5:HT?;%S$<@(H$MV;GC#X%XA8]1^#(C1()
MK%BTZ335M9+;XTH\]H\.O\YF&>="#`-K7@3OQR>9?DRQGZTPL\V'MAV/B=L'
MV'\2X,S2\.Y^+OUL^6%6OV>>R><H/W(/B_Y98NS%L7U0FD&B<QMT_C^Q\?EU
M42:%G;`%9!Y?1$<++0\B#'/1S2XXH^OS;X*])=T\DR(?B9%#K:=:,VW_``,]
MCAFYSE2753@3&;W0LA#YI(=$K,3Z7/.3C,5'E'-UF+2<5PD]-1$5!JTK0$1+
MB<+,0[XC!B?)A;K;8Q2W13&VT96#UN5FM]J4W>L:W4BSU+J7+B>(+LN;(Q,C
M2J[P_!FM2:?-0L8VHR7+"T/Q.%QDX<M@"-%)GIC49%>O'"3?+C!32I<@.%#(
M+]/'.#.XM=W\G%?2V7W$]777WO*K(]KK9+JU(!<35YB.D90<524`ER0DK*-V
M`VT1L,0Z0"X+)LPAAJ(RIP;[+_J6J0M:@4-F(A4&/L1*F,Z3M>:S_;ZV$+78
M[*R->Y"NMN=X[#%F96V\>6X*)D):89W`7/BT(\&+.F6E,L/S*9$X\N2LT*IN
M'!+,=>"$'BXK:8YNXLTE.DFG95.OAJ$ZS*JKMX8X^"^OC*IHT`#Q\*V.$ZN.
M&?U0S+$6U&'H""9<D*D<JQ*>8K!KKZ(T^"K):9`MF(T&_,37?FV65I9+6F"%
M^2^73^2XFHQ)L%%13=.'9"CG@/+VXH!FC\=4_0&]*2E+0BC:&;;%,M_P-V&Y
MV4O>MNF.O/:4,FW.WFW]Y;$AUPY<3H3\"'^(L+^GWLG^N2U9Y,)VXMIZ,R^&
M'Z4:YO#8?CF<._)C/_6I)9TP%L6Q<3.$["^)\$85\!\.1/,#UW%DIB4BB:[7
M/6<7J/"V0.\8XMY&GI<M(QC,3%":9THF1F?4599\\G4W<ZUM07K'M%%BRI:^
MNE-ZF<4I]=<C(BM=8[R`=3H\[L$$!'/`#&T5ZE6:=E"85FU7GC^LDJCX=EP)
M4>_.UGDVIV?U<(3&OR`5G$:)=<,BYN,9RXU64-\YI2FD\^U.VN^99<^'-'@C
MNI_,;2`/,<M)KVY,#C2,*8ERKO7W(T+ET^,JXD=*(4'M*HL6,`@V990:CHY7
MJYNJ/[;G:\9#Q]QE6<-D\TYRFZ7_`)G80\Z.`^0Y^LAW"$YU-<J8K4;)(DIZ
M:LC'D%O5:"FI(\$$8@PL5Y@0R"'%&>':D7F!]-+6EV-;'4QE.6*KLV[>"V[I
MP=R+3^/QWF^4I2T%3W)=:H%7K<#*6#5>E6["CE*EO.O$2*A`/6^AN-H0!Z''
MT\N,J]F@F9AQE@X$;11)OLRDFYN4Z8K_`.G6\N;5SGRX%]SW4R-D)RSZ9Y3D
MN2XX:.8)JUH@96OV$)H8D"^2-CM=KDQYN:CXRL,\AU:;B-:]8A^6].LRECE8
M"6+:C)6+"45)7S34[)):Y/E-"7/,]MCS/\R-:-O_`))VC^CLW_LTG.CL>Q\`
MK5M7$[B>IGXJW6?Y/W#7ZN:WG@/0[7M?$U4^'8CSY7CKIO'18)<E(%]KI%L4
M$`9XPPES[F;L(KS;`PZ''GE^2E2O);0I7B3O?B\6MYTP5(X?'@S,79BV+ZH3
M0,NO3[;SX[D)+MD#0XEA)87&F(>'@#P`I0&;>:4SI;40;&24?(B22TI#)!/#
M+9>6.4PXOV35^KQN.!^+PAL)(LLRT6^.0.H$QV,E!B1%O#$-,'C:?8<TP1H8
M\)YE]I:?(\\(0V^ROR'$+V!GQ9>8.."6(N]7OK#:I6OSQD4JN6.U[/&AC(<2
MWV2Q2=+K4@T)'0Z8N/C92/B(DZ`4,R@"K-12:Y%P\K*")Y*&*J4:G6:SK,GG
M=]N^PL[^NK*6%BU_D+CTP*#W*]:E23B8UNQ*E("NA-HD]K73J2!,H&]5.A&5
M97*`=UCG@->;CY$VT@U!)@\E"1"H^M13I$EFDWM>_%ELE,GAXZK.)Z9ZS<52
M%>N$PWUT.JD:VQ9:G027(B66VOD&1B*1#P\.=-MA)",DJD2'R3<"XV2)7(G/
MRD)'*:>8B--)2<^U/.Y/--NRYJ4,U<R^'4O#;]C$2QU:S4^37"VVNSM7F$,L
MD+B;%$GPLD@<A.U,/J!DAQBDLO)UM33FVM(<UK>T*WXMYM-.J::U5(7#&\4<
MI37F/4_&U]E?21O31O5M/L)WI`?H4+(^EL>C1SOG1O5]DKIVGV_*:V)/PA&E
M>:E0%OL97JZU:^3W,'2KX%?\G;Q;^EKN!^V1S[GBC[<7Q1<6>C,OAA^E&GOP
MO7Y1BQ?))ZY?K1[3YVP'\_Z_<QA+(=L7"$PXXNI$5?9N9BIBS!5$.,IMLLVI
MN29D"(YDBO1#\B,P<U$1TO+*%*=:2PYZLBSS=:7K;`SBOXNT3E+/-I;]QR,Q
M3>L]UCIHP(#GA2*_''W?CFDR!-CGHP=N+&GKI7Q@G#WDM1`]>(727SKY%0CS
M^JW'6"H.R82W;`R./C'6>&YNB\:>/Z;ZU+XZNM129GK/R+%.#!PO+<UH*<%"
MA9<0YB\@F[(<HM<N<Q792)&$=6S+2&Y0:'J%'D_)G+;*1)8(HNG0AU$%&L\*
M]+%3=2;BL2D]B777"T_7CSA*>O-BM5;NO.%E8/J7)\70EF1\^<>$2BTW>MLS
M\L/N9-%+8><D3$S<@,0.P^J9C6ERS:#A5J:KBDDX8;4W*5:+KP):]N<M8'C"
MR376T?E2/Y&Y%/GT%%FB5`<BREP[Y;O(`]0?%`(T&B(W/$,RSUA=$$L!=K(&
M2<6FI.0*)2R1IM8V*TI7N5W2NLK8AUZR(LYNXS&I>JW*QMIEKR/9H4.VCRS^
MTFMPU%L:4HXW`GC&'BDQML+$C)WUK"$.,Z!;$#;%8UKSVDZA<YTE63VJU[+*
MU!A'S]^`CFO]$G(_^#IG$?8B^&+@S>#_`','\</U(_HAYX3J,`8`P!@#`&`,
M`8`P!@#`&`<]?AW'76)CI4\RXXR\S:.<76G6EJ;=:=;J5.6VXVXC>E(<0K6E
M(6G>E)5K6];UO6MYUP/;\&2+L1;8?N:_T=V;EN8E9@BB41W<G8^/K+ZNU&[W
M&,E4NQ,7"2%]'*T6YL&U6]<Y:2QQWA$Q4W:)UZ,VV*2V&UWR:O>?/6JEO2DL
M\Y*9PG9J*SQ[V.Y9M+%3B8+C*NVR>IC[!4E;FUE@6N?DI"(F:NQ*6:RO2#22
M"-CN5&3,48IT+:>,A9N785%JN3QJ*%5G%)/-FOLW^:^0GUUUZE>D^QO*H4VU
M'2_"T/-!P]KC96-AH4N4G:DF4+7Q%=H$.-,K94I`2;9`O$%;*!5%%N^F5>8M
M(@R_1I-)(4Q%I2I5V/\`DG=*W>D6>K7OER/\K//%V:BY*+N/#%H?=E*@_4J3
MN%K4\A\XEVHRL#&5\@@A\1QRL><;D[6]#!CRPY$[&KE/5+I$<DH:N%9HEKFT
M\\R$<2_-U]F>0);D&8X=;)!OU1A:;+P;L/->K;`Q"W2HVF-+"4X$N*\XW:X6
MHQ_JD:'>KY<3L6O2$.>[+$EG%"I2QL\YTND_2=KUB?(N0[N'R-5K'L.1X]I\
M0["V\2T_!85,B+7P9`6^Q?(XK,:$P>^RW%J.CPVH]\4I_P`N)V(0,:_M`Q.,
M1-=IN:E/P:Y;MUG6>N98%O[6VVV52?IBJY7P86P02H,QW:')*<=WYKBQK4L7
M89!+LP9+D?%8`3*$*+:8ESIJ4,-&6ZV#H8L&DTYS:<^.:S/Z;H=$/@C/R=/6
M;^CUR_6?>,\CM>U\3TNWP7!')@Y_*7D_].'/?ZZK[GLP?8AV'+"_N1>'THF[
MA2ET^Y3,Y\-S2PX.!"J4@7Z%*Q<(\H&6Y5X]ITX_N4F]:B04@UVSRYC1<BZP
M`$<R&?)NIB19#+$VI2SNYO,WFUI:VJ*LCF9`2W7K@`B6LD@%V"J%:B(4B+T-
M4RYFOVB6DD/52NRI*`9V*L#44ZMZPSFX4@<`F>&KNPIYMRQ6+5:(D)'&/')?
MI<WGD^$IV+5-RS.EZOS=>MU?]>ZT\&2*QS(SL3686-)=@@VD2T[QG(/.&/4D
MBPV%]3#'(P$]'Q@]G8'ID2\;7%Z6?*BD%%.1T;,28]QXE;"\]:R59*=):Z.P
M2U]2F^6O,>&O==^"9>3+K!'8RL@F-6*IL+N,@348VNC0,D/R@W-/`AD79>YM
M8;]=I)9A&I,#44W.H"4.5H\0_&-$JXK='13M6++-3/*WT"2OE5+COS=5/%6>
M`>#R6X^1F.?X$I#<"P;-0+95*@BFY<BC4>U.C`RLG?%LDQ4;+W(NH$.LA.V,
MN?J<ZP#5WTA2NH@XXM%VW-YVLRU3ME)JHEUN?^;I&-O)U;CJC>[%7HEUY8,<
M2/YIDEQ+Q<<X4"*:3"'/)0WIT^`*)>A#W?-,[<,`?7MEG:MM(W"YI,AD!X.C
M\HIU"_I!S5^S5S%G'#]F'X_^8SI@[8OA_P"H3JC[??BF=H?D[<V?JULV>8ZJ
MU;5Q.(&J?R6K?_,$/_LX;/>K%L7`\[M>U\2OY2&5G`=DY:X^KD]9J96*V96W
M[%6+)+3-LDJO%`^*@IG!-1H3UGD`=(<D7KMIA!43Y,VX6+Z)"$;>:DFDXBDY
M)NN:C=NS8"2F^Q'+[?JT)O@YUC>B8D`?0</=!)-N4C:7R#&"QM:-9\1D".%#
M\D%R]>@8O?DU\`='H*5`29BW9BJW&OSYFURE/D-76?F>9[L[R65(NV9SAD=S
M9D?<I!>O1KEN!4#\+8J?GWAX_3WJYNM^GQK<9R:$VG85P:D9)FS$,/%->CE`
MI2QJ46:[B\UV8.M3"28AY*ORLA"3`C@$K%%O@GAN[0I;!0[FVW4>6TIQIU'E
M)\;;S+CC#[>TNLN.-+0M72VJ!3<`VM>!._')YE^3+&?K3"SS8>V'8^)VP?8?
MQ+@S-+P[GXN_6SY85:_9Y[)YR@_<@^+_`)98NS%L7U0FA>D\76N_"R$A!MQS
M,7$$>9EI:7DAHJ.C6FX&PV8LTD@E2?\`1`(:L2A!:F$O/:?5'1[##\A+1HI/
ML<24M=U>IG`J6^$.576W2XNE35DB$$3HX]AJ@_PGK<G\&S!`)=^'GH39L7*B
MC%R,8PD@(EY#SLK%M,[6[(AH>8T-]VJWJMV<$@<<U?G?AHUWF.'X_D4MU,-K
M<B/88F6]$]2VR'GVT'2D4(5&'$P+@<1,:-6X]H!MP)T>4:6P@IC#<,5)K?G7
M^_=#7UU1DH_!WLE6H[BBR0_'T)*!O',\@T.(K(<O)+'E[C7^/[83.>I`I1"]
MD3L%&Q3!*X]#X$,39).&`U!S;T`-&96)-U:=C;<IRFK;O2FTLG3T].:()Y`J
M'--OG5W.R\<V8%V>BX5\'T>NS3,=J"CJX"+`H#>.V:82PQ6(V/?0;(GGRD@#
MYF9D3CG3]GE6%PI23LG;?.MV=]2):>F5ZS<U0QUCC#Z3)HD:W,M03P###Q9<
MP<1)SL*(NMCB,O.SP1DO6YB,%.CTNBO2`B@M.:*WIG*HX7*MO).N];Q+TIUN
M(SLU%M-/'CB;'$D1:)(F2"9;)3Y#S1\0D!XX(AI7B6T0@"8A95K[RFB(N:BS
MAW762T[U4T[,WW!TA^!#_$6%_3[V3_7):L\>$[<6T]&9?##]*-<WAL/QS.'?
MDQG_`*U)+.F`MBV+B9PG87Q/@C5I&C,&R(`9);8`Q9HHQ!SVMJ9"8??;:=+=
M3K>M[;&;6IY>M;UO:4;UX]?QYZ3B9UR_`'7QT.,CG.4!N-)MJ_V^"LA=HM=3
ML9<7#5Z5Y#?>U\#XJ0$G$/BUZJ1`##D]JJ$R-SE(J&B`;)'W$&8K'+'B7\7%
M12HU=GE+//.I5I867Y_SJX\<;ULX'/3J#<[$U9N;C[)$Q4Q8AI[CP>N:BF0>
M2G+=*Q0UFOM>U/CB2]6K4=5RX^9%U.!S\7(^@^:L(KD9<>)5Q7)J<JSG^F2H
MG>VZ7W"6O/SK610!^`N#HDFJ%3O8&`F0Y@:FOR,3"/5-DH`FQ:0[+@24JFZ2
M#$2Q6-;(#DY#0AZTFB:<]"0$<.2EC1.R&5MO%4KLY5A\&]<>'06XQM[LW2]F
MR<)#'[]$;K4G'Q$B61;]2X,P7'WM\AM,>'6(\@?0()I1;UKAQMCM:VP^>QXM
M!^MVSJ6ZRUYN=/0LSG+BSCNA5^LR-%L^[(HJ6*A9,_4S6ID4\P2I4V9D4B+J
M<M8849^$DYLD>19%GY9&FY2*:\\V\._YRPQ-MS4LZ4FI5:SI.OV<B&(UO_DG
M:/Z.S?\`LTG-.Q['P*K5M7$[B>IGXJW6?Y/W#7ZN:WG@/0[7M?$UC>&QM\K0
M:UTAN<$D54Q7>W1LE':-;==%T4UUF["Z;4\VP^,ZM*-J\O6D/M[\I*=[5XO'
MK>\&IQI.QSX,S%V8MB^J$U,B=X>6AFH1+T+0SR(42GA:--CK)M\]%+A]0L>6
M8P-:Q@&9J0'\IV9L46''3YBVXX5J2%C(*``B_3DU-U>RF=SME/8MN=LXMS\/
M\^W5"L1/;#F2^RNHJ*J=*,E$4RR@:;])Y"6TN#AAGKG*E$`F<@D1TD?H.!>3
M))."-5=AD-1%L&LZ?0QT,2%6MVZMUEF=)46:2#<^K^I:\Y?<79>T/'7JB#K'
M%%)L=@C-\>`GV^IQ,Y9;`<YQ]*A4VM5"6F(6R(#::TUQXJJ2\17A08ZT0T7*
M3"W)1?I-CU)0.;;<GC4=*-3=)5MG-U4UGD*KJ>?-^+3]G>9^X[-:C(Q'%S(S
M*V*Q7A[-ZIM11ISE?M3%[:)V8?;C(5D^<D9IA=OF`@0U3L;-PKDN0I[59.&2
M@G/&O<J4FL6<DMT]JSDG9J+!*MG9&+IT74CN'(R$$B.0G^68^SG4Z=:EH"S1
M4HN]2DVZZ3*OQHC`49+AL6$H^'=,736:Z%*$N#`Q+FK*"<U%_&4DU7-9*<Z4
MUES2\2,[CS;:8V%NW#DEQM0*U';GIT.=@X]5Z>7%6!F0ADR;S)$A?97TF2`G
M:H(7'R)[DD1':=FH>/(;K5@FH8_2A4U%-YN$KKGTTB%7![?7]L>L!S=1XUMX
M=/A:C7X$6S0,T2./$T6,@`*P`2S'V6-;D`X\N%D)Q89R2!"IJW6LDEEQ@R,&
MB(X%F;4VVY9YNN:ZE,R19]=;]IOJ\"ZZI_P>?&3RDH2I[E[N&ZI+2--MI4YW
M+Y^7M+;:?$E"-;WXD(3KQ)3XDZ^]K/)'VHOB?%G?,OAA^E&G?PO7Y1BQ?))Z
MY?K1[3YVP'\_Z_<QA+(=L7"$PKXSKD;;+M"P,LZ\@$M,H^M@9Q+)<F1&P\A*
M`P03RD.Z:.L)P0T$$YIIU2"Y%E2&G5Z2VKNZ+IRU^!R,L[#P!UM/`4=3^P$%
M$*'C+W*DQTY+U^5D]E5:*XP$CH%IO4E!"/:G9R8O4Y"20))Y$O7V`8H"+*FX
M&Q>CX44>>&Z3DZU?V2S6ZFD6DN/I^;Z'^S'73KH=9086M]B8:#"1)2P99U@D
MJ/+LG1JISG%=>E1I2.M\;&"ENP/'M&'D0#T@C-.7V`E'#0S)H&M;F/'*>)/9
M.Z'4YU;JKG*B$E?3USYO#U10(7K[P?-+&A$]A:S'2+(L;(R]GEBZI'P252U:
MI4FF'B@2;BA\_4/)6HR/DY%PP0WTZN6"/=@PDQ91S-QHK<5RK25S<FZ4FELJ
M):[OMU29^0'`?!S;5C.)Y]A)EF&IUG-%C&B*5`&'V@2K<E%0^A7SK\4D^)19
M*Q30&A(Q@VPSKERCV68B/"21)LL:+1:JJULFISI2DZV4OH)=;[+^J%@\T\/T
MOC6)9(JG(47R&UNW%0XUBAB(]V,F0-U>OS#S`[,9(RXH\E5SC%CSFF94]ES5
M@A],N>;922;88FW5-4S[=BMS;",P6Y^_`1S7^B3D?_!TSEC[$7PQ<&;P?[F#
M^.'ZD?T0\\)U&`,`8`P!@#`&`,`8`P!@#`.>OP\HT@G?3R88AK!)QL9:>:&9
M(J#KTY8$Q[DA4JJ@'1J(2/D'14EK8>0.M]#:'5M+2E6U)WK.F":4<VY*3#3<
M,257-4WFA#UZC^8KS\W-_P#JUGIRD&DCEDX]%DH\=\YS7&PDX-#5BV$*F2H<
M[_3N-;X^-I^,$GX4D0\1RK+1)0\U5K=:Z_*QWEBK=:EFBV3&704(>RXL'%*<
M2ZY-)H9./19*QG=_ETJ/(BVX>8`"<>=4*D+BGDY#\>*]48>F.`,F/@$&'M*C
M*]!E>GSI$O.)E8UHY,MK;QC9,_\`+2VUMJW=KS2*X,(_XOJ2^R/-']U.6`5Q
M^W(65DV8ST?8HLKQ#R(4.AP2#F(`0A/DQ+3S!0H4V4X,4*\.0.6R&0RZC8Z4
M[3P6EZ]=6DR<>BSW"=V.1_29\R7KUJ.?E*Y9HB,;"XWOD<'$2EACJ]'#SBQW
MJE)++777:U$V.`&%?BWP[C%0T^J0=;CWHT]/!T_6K4]VR5MDW.DT,G'HLQ_N
M_(ZKI8RI]VK7:/0L*$B006^/N0"/0XFMP4;6X49TG=69V62S$1(399FV&/2R
M4O$^89\[YI&E'`E+&0R<>BRT_7J/YBO/S<W_`.K67*0:2&3CT6==_@F8^1B_
M!X]9PY6-DH@Y-9M3SL?+QYD5(L-F<C7(P79,?(,#&BJ?%?9(;00PTO;3K:_)
M\2M;WXW:]K.SM\%P1R.3;IT#=>58N6K%[$.'YMYS<<9WQ[>7M>:,Y@NYHCS;
MP]>=8?8*$(8)'?9=<:>8>;=;6I"];WZ8(X%!"G$DTC&$@BBC;2;3E)^"/*F?
MTCRO(A+VGRD[0KR>.^0$^4A7\:5>*M:\:=^+7C3O[V_]>LWE(-)&,G'HL^?7
MJ/YBO/S<W_ZM8RD&DADX]%CUZC^8KS\W-_\`JUC*0:2&3CT6/7J/YBO/S<W_
M`.K6,I!I(9./18]>H_F*\_-S?_JUC*0:2&3CT6?2Y_3BU..0E[6M:E+6M?'?
M("EK6K>U*4I2JUO:E*WO>U*WO>][WO>]^/&4@TD,G'HLS2\&GH^9\(?U4("K
MUO2)#2O,I\L<?2[;$1\<&_UXY7C&'S)"6A0@AT/R)X03.G'TJ=**89;2I;B=
M;XX:*&*&%)S_`%3I=BQ<S<$,4.,VI?IE6^:Y'5?VR#+D>J_9>/CQ23CSNO\`
MS*&$$&PZ26863QU8V1A11F4K>()(>6AIAAI"W775I;;2I:M:WP-JU;5Q.&.N
M2JQ:]`BD5Z]LD#0T6P^TOCB_Z6T\R"PVZVK7P:^\I"TJ2K7_``ZWGL6$@DOU
M*Q')X..;_2[65GUZC^8KS\W-_P#JUERD&DB9./19,,?V*N,+Q[KCZ!C^0H,4
M@&3@I:4BZ1R4";*UDZ9U8&X%[T2NL*T-J5*FE2/G'GV)<&28`(%;;CTN$YQL
M&W-Q)W3S.R8R<>BR\)'O#R2P!.`'@EQSU[NEDGY"27Q7R`#*2UBN<9=8PB/&
M(7&MH?VQ&W>T#0HJ&'3QQ'!Q?/D!Q0+`TG@J?J5%)9[)/.G=U-EQ,)HO<M?,
MJ+O=CE9U<R^J`DDF6"&FH66.9XDY+8*)9ESA#ARD;8CVV1"H/8(X\7H)D8,@
M=*O7XDV0M1&W_EI:[?P3)QZ+()O/(ZKM:YBS.U:[1^I)YA(L>WQ]R`1H".`$
M'C8L)1.ZLRHMT2-#%'>,4RRHQYM9*FFE.[0G2C@2EC(9./19:?KU'\Q7GYN;
M_P#5K+E(-)#)QZ+-NW@0FCS>V_-,RF#LP<2UUSB8Q4E,U6QP(2I%SDP4I(+)
M,W%Q[1!6QD+?VPPIQQ+2=N*3I/W\X8:)1-2<Z,Z0PN&%S4IQ*6XS7\.T)(/=
M;.`#@HF:E1X7MK5Y*6]1PDM//Q\<YP1V%BDGE"0P9Q;0?K*3C@5$J8\R@DT5
MI:TJ>1K?."D<#=BBKN96FX8DE-R7U(Y^*?SA:J)%&Q5=B;4RV;+L2SBS^);?
M--;UJOV.L2<63$S52/@92&GX>RDC34;+Q4@.7Z%&J3IKS#FGO4X\&_Y*R5K6
M>>8Y9./19?`_;SFL-G8X1]H";4#8HQ6PN`=".KC[7/-6><#<?&XQ:?<')GAQ
M9(9I;BDQCX8*8K0300C;.9X*^[/%F\?]SEQ,)HO<NN68MR3[(<G3`YXQSUQV
MU+!+!E]B\*RL<],(>B9Z#)+ER8[C\4F4ES(NS3@Q\Z>Z1-'[-](,D'R1@WA]
M8V#TEO?68F3CT6>NO]N^6J[(,@0EFN[4C#0T(RS&/<3RTH]&P(U<B:+#IU&2
M5$-T/%F0M#A(YQ2ATC3<A4(^4.V=.0;!XTQL$\ZWM9V\VMO>QDX]%E=D^WO+
MQ_\`N(R+%$1_J$.O^JH[@Z84%MH>MPM5(EU*D:)(&.6>3B8"/'.M+I:Y_;#>
MH\60%BFQP&$\%I)[6YYW]W09./19^;_;_G-^45,[GKX/)*/%E=O@<+2,8CUH
M)/SEJ;D4C1W'8HJ3WK'99V:.,2SHB2D9,DF1<*7M&T)X*]>MR7!)>`R<>BR.
M;7R]-7&-AXN4KEA&%ASYJ6:9A.'[9`".RD\/!@'F:BH6H@PP.O5-8KD4R)$Q
MT>"T-$,.:&V6^60_5'@U9%O;?'?XC)QZ+.ESP)84B%T4B=R,7+Q"S^;NPTH(
M--Q,E"'.QTCRY:"@#?0)84,U`YHSB"!77!T)?96AUO:D*TK?EC:<<35DSK9)
M.U0P_2C6]X;QJ0"[<\,S*H.SF1+O7&2C$R4-5;'/!)D6^33RU@NDPD7(-,%:
M&<0_IA]3;BFE:<2G:=^/.F!B4+<W*A(H7%"I*<HG/<:B_7J/YBO/S<W_`.K6
M=\I!I(YY./19]+G].*4MR$O:UK5M2UKX[Y`4I2M[\>U*5NM;VI6]_?WO>][W
MO^/&4@TD,G'HL^?7J/YBO/S<W_ZM8RD&DADX]%CUZC^8KS\W-_\`JUC*0:2&
M3CT6/7J/YBO/S<W_`.K6,I!I(9./19];L'C2E&X2][0C:E)1OCOD#:4J7Y.E
MJ2GX->+6UZ0C2MZUK:O)3X_'Y.O$RD&DADX]%E!L\HLNMV$0:NWMXDJ#EAQV
M4<<7_:W7W@"&VFT:^#7WU..*2E.O]>]ZR/"02?ZE8RK!QS7Z7:CNFZKB%Q_6
M'KB`>*0$<%P-Q`(8&6RX,6(6-Q]7F2!2AWDH>'('>0MIYEU"'&G$*0M*5)WK
M7C.KM>UFIOP]`L@OA_JE)"1$[*APO:,HR6<@H&9GW(T,GKOSQ%L%FCP@)Y(X
MCDD>""DEQE+'I18[.W-+>;TK>#:4:;<E7@R--PQ)*;DOJ1SL^O4?S%>?FYO_
M`-6L]64@TD<LG'HLKU<Y`D*M(O2<3"W5!+\/88)WSO&W(*T*C[/`25;E$>)-
M=;4EW<;*E>C/)7I8Y.F26_\`=&4Y''@W_)6I[JC)QZ+)53VRYO;<<=:L_*#*
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ME+;>G2B'7--H3I"-*\E.M)UK6:4>#5%$I(9./191_7J/YBO/S<W_`.K6,I!I
M(9./19U<^!A!D8_P=_$K<G&2L005R5VLEF0IJ+D(:0W&S?;?G*8B#'(Z4&$.
M89DHHX*1"4^.WZ0$4.2WI33R%*\D58HFK'$^)UE*2=JAA^E&G#PQ:#XSPA,G
M*OP-K(BI/JGP$$!)Q50M$Y&DFQ/)O9=Z2"0?"Q!XFC`69:,>)%6\E]IH\1Q;
M>D/MJ5TP,4,.--RG*7J9CABB4,E.3BGNA-:Z)_3:TN-PE[0M"DK0M''?("5H
M6G>E)4E2:UK:5)WK6TJUO6];UK>M^/.^4@TD8R<>BSY]>H_F*\_-S?\`ZM8R
MD&DADX]%CUZC^8KS\W-_^K6,I!I(9./19Y0[5'R#2WP(VWG,-E'`N/!T&]$M
M(-C#2(V2#6XS75H25'R(A0!P^]Z=$-&(%?0V^RXVEE(-)#)QZ+/5Z]1_,5Y^
M;F__`%:QE(-)#)QZ+/K<_K:$M[A+WM"5*6E&^.^0/(2M>D)6I*?@UXM*7IMO
M2E:UXU:0C6][TE/B92#20R<>BR,N:'SI[AWEB#AZMR!(R\SQI>XF*CQN-[^L
M@Z2D:O*A@ACH^#>O+>))>:8:3X]>4XM.O'KQYF*.!PQ)1*;A?`W!!&HX&X6D
MHH6WJ31_1.SR&A@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`8K=HO_`#OK/\JGC/\`V)=L%5O@^#,J<$&`,`8`P!@#`&`8
MQUS\<SF/Y,?6O]:G:_!<RVO@C)S!!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`QB
MJGXYO/?R8NHWZU>[6"YEM?!&3N"#`&`,`8`P!@#`,8^I'X*[7\ISNQ^V9SW@
MKM\%P1DY@@P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8!AQW*A)"QQ/7V&B;;8:+(G=H.,&Q+;5!ZL5881Q$9;W-D
MQ@]VK5QJSKSC:%C+3,UJ6'TP^ZIMA!&F2&14Y9I[_LT77\0G*7OK=G/[K]./
MLEX$U<O7F/B$Y2]];LY_=?IQ]DO`FKEZ\Q\0G*7OK=G/[K]./LEX$U<O7F/B
M$Y2]];LY_=?IQ]DO`FKEZ\Q\0G*7OK=G/[K]./LEX$U<O7F/B$Y2]];LY_=?
MIQ]DO`FKEZ\Q\0G*7OK=G/[K]./LEX$U<O7F/B$Y2]];LY_=?IQ]DO`FKEZ\
MRYN,.#GN/+K<>0IWESD_EVW7.KTJF%2G(PW%`"8FN4.6O,Y"Q\.#Q1Q;QA':
MV[)\A6$B0+EA98U_6PF6"!F!MMN`WJEO^[=Q.V"#`&`,`8`P!@#`&`,`8`P!
M@&E7PV?*?*W&/%'6=/%/*-_XJ+N?9`BMV67XYLTA5)J5KXO`_-5H;AR)2-6V
M5N/5/5Z&D71TKTAUZ/8VOQZ3XM[P:44:3L<^#8;DHG2:2M4_Y)&A'[H3M5[X
M':KY\+G_`-MST9&#7O.>5BNA\J)!C;EW@EZN/;H_M;V>?BSY'U5$!?=&RK=F
ML)J9**AW$5FG.SZ+79$-2LW&1[CL'#'MZ)?>0E2M1TFH*9/!IRK>W62VNQ69
M_NILI%=#Y4?HNR^$$;WO3G-_>Y&]26X;>EWOE=.]2^A73MQ6_*9U_OCH)AXS
M87_G.A6G2-M>90I>F3P5_P`PRD5T/E1^0,+WR;N8\X/S#W,!M]^B^/*F]8"N
M4[W'[-AW;A;(?CB(GYLLMF/A`DW*TW$6';GBHY+4C+RNU;2EY2L9/!5<[)SK
M<IOT+E(J*4.K]*ST^QZI>Q]^(1\08OL7W&(=.%;-&U#\RW6>0IAT6=/;VMV$
M.D&F7%Q]7LDCIAY:'_5\#,&[;T-&F.LLG@W6N^7':3*170^5%"M'(O>6D)"5
M=.Q?=>HIDE/ICE6?DWDN`3(*%:#?*2%N5V)HI0S$C'O$)8VYMEHX-QS24$L[
M66"P;L<]D4QE(KH?*BTONA.U7O@=JOGPN?\`VW+D8->\96*Z'RHZ<O!'\@W[
MD_H9Q=;N3;K9^0[B[R!V7KYMNN4L1.V63C*7VAYEIE9:E)<O:B3G(JL0$/#L
M//J4YZ(`PA2E;3X]^6)2BB2L3:W,Z6R=ZA>])FIKPL7.?8"J=ZSZ%0.P'-/&
M=+BNLW"-G&J_'/(4Y3X9=BM'(G86.G)HH.)>905('@5.O!N$/>4K3$8.VGQ:
MUOQ]<%!#'C3S2EXSY$BB<*4DJN*U3L4/,UY?="=JO?`[5?/A<_\`MN=<C!KW
MF,K%=#Y4/NA.U7O@=JOGPN?_`&W&1@U[QE8KH?*A]T)VJ]\#M5\^%S_[;C(P
M:]XRL5T/E11(#F#L;507XRN]J^ST-'E3=EL9`@'-=Q98>G;C8Y6W6F56C1OB
M49.V:<EYN1=_C(D)`I]7\)S>,C!KWC*Q70^5%;^Z$[5>^!VJ^?"Y_P#;<9&#
M7O&5BNA\J'W0G:KWP.U7SX7/_MN,C!KWC*Q70^5$?<M=I.WU3XJY,M4)W%[3
MCS-:X^N=@B'W>:K<0VQ)PU<DI$!YP=XM;+Z&RAFEK9=2IMU*=H6G:5;UN18*
M!0Q-3FDW;<C4$;<<*:ADXH4_TJQM([V<\IH8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@&+79[_P`ZZU_*EXS_`-C7/`,I
M<`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@&ASP]'X+NG_RJY']FCL'
MG3!?N0^/TLD79BV+ZH3GZSV'`S9XZJ784:B4-_C*3H]C*62%>JY7VX*&/OE+
MCEV:?D4R[E@N=3&B8JM%3W$$A(S(,9;S161A5[F0A8VQ3+4AAN&;FFLTYT=)
M9G=%G4]R'777W*_#%=SBI`DH(,>$D*:+6P@8H@*DUQ\5+<S2N.JS5X`%20W6
M3PGK!5H>."'4*>(PA&V2423+>UY>3WSOUMMS\05*,L?<]^1=A52E8K9@\S)6
M%+,B]Q?!L$S?'$I,\H$/LLB[2-ZN;EX<D!,JMABEK>BA:L7*##@N"M)8.6=V
M*R*F,L7/_LV6L[G6[-U;9X(\K3O<V-84H$>)D$#QL-%'*]74#95:63$7B,'$
M-1-#!FPYHD7R+<HF1F64>KF]3K@;TNZXT(E@\G3QOO3_`.4*U]?5??JA$?+\
M)S^;1$V+EA<8-!5NZ!0P`"R*TF8(EK-'6."];A"U_P`\X575(X7DXEN;(?1%
M2!T6O<`[**U,$"ZAQ9RAM:K;FE2N?]7/,*RU<_\`#%O-D.I3P*_Y.WBW]+7<
M#]LCGW/#'VXOBBXL]&9?##]*-/?A>ORC%B^23UR_6CVGSM@/Y_U^YC"60[8N
M$)C+QM)<8C42["6A5=%M9+RMADV.M6*R$FU_=:GV&XRD[@WQ0X.UHM+L(>J5
MGCXD!(S`ZU'&!"RM;G^SG-2G+4TJSSSM4O'B<NNNOS)\M&=-&"C&(V<O!K#K
MC6ABVC9AE@0=F7FW&MMNFT)LMXT^N,5=B;<(B%"1=D/LWJ0>6AA8<I65E+EZ
M5VUOLEFE.H*O-QO2E45/"Q-EL6CXV.N!%=/9!MX[L]*D0M2+KPA;9T(<P.+'
MS3EAB8=3^@4R`P1Y5B5$^DPQ3Y93/+-=KK2^D[LQ:=>'Y*E8GNF-GGG$#RAM
M2@V[),&-KB8*Q"I=@%<F59U@-.TUZ6D/2W^,';@S$-/:2(+-CPNCUBZV0M\L
MHE>Y9VKGKOEX3SLBEG(EM^NM`U:AWZ2JUDVL*7J3DJQ)DF$@2L4G4ONV-I'(
M@XQ@9U3B8C8FM2'BTTM3"/.J220JK'G6RMU+K^GJJX]?@ETN:ZEB`7Z+%56Y
M%XRHV9RNSP]<NS+S,U(V;F25K<;#B2=74MZ2C827XIBI/TYZEB#EPNG(V]24
M-%S$-<HE'-6RG>K)0VUO3E;;5*U5RZVV;I76;]6?/WX".:_T2<C_`.#IG-1]
MB+X8N#-8/]S!_'#]2/Z(>>$ZC`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`P_[AQ4[-1'`<=6+)\$9]_LSQGZLL>X<.?U%
MOHC;8M3RH<]UD0[2V=.L>:>=0E/G?.ZWY3:=;%6?4OQ]YER?%=V2]ZAGYBZ3
M_G&"#XKNR7O4,_,72?\`.,`?%=V2]ZAGYBZ3_G&`/BN[)>]0S\Q=)_SC`'Q7
M=DO>H9^8ND_YQ@#XKNR7O4,_,72?\XP!\5W9+WJ&?F+I/^<8`^*[LE[U#/S%
MTG_.,`?%=V2]ZAGYBZ3_`)Q@#XKNR7O4,_,72?\`.,`?%=V2]ZAGYBZ3_G&`
M/BN[)>]0S\Q=)_SC`'Q7=DO>H9^8ND_YQ@#XKNR7O4,_,72?\XP!\5W9+WJ&
M?F+I/^<8`^*[LE[U#/S%TG_.,`?%=V2]ZAGYBZ3_`)Q@#XKNR7O4,_,72?\`
M.,`?%=V2]ZAGYBZ3_G&`/BN[)>]0S\Q=)_SC`'Q7=DO>H9^8ND_YQ@#XKNR7
MO4,_,72?\XP#2SX::G<LUVB=2R[]S,WR/%O=FI082(1QS7J=L*05UQYZ=1)>
ML(@\H@G2!VB!?0W$)95Z5Y_:_+81K?3!?N0^/TLD78BV+ZD:6<]AP).B^9^5
M(6+@H2*O,\!$5I)"(:,'*2@$9DMJ>'(&=&\WMHX-T>TV490<@DH7T>P30^F=
M,R9J'LN&%S;2F_QR6X3ZZVLR4XYA>=^0^.19F%Y7L*C'WK.%6JQM`I`!(U5F
MZ#+3ST[.G2P;@9C$G-5N8BA`XFS2++4`Q(F^H8P*(+<R\512Q=<\]4[*66JU
M*;IGE:RZ\?MQS%V.\2]I9P,]F0Y<`,68/IZ%$'L)10TS*2[''-39JS9&HX9,
M&R;7^8:R-%#.--5D9B3(&6N);0<6-G&P:S;:3E;7/G3L$GUX<T6#S"[SSQ17
M8A^7YF+GX^XVBXQB0XN<CI!UIR,J_$]CD3)30$C)/PQLNBW0HI<#))CI5O5;
M$.-%4.7'*1J%0Q/LU4G6=\2SVV/565XK*VV>?9;Z&-M@Y2Y#M<$W6;';YN:@
M69`>4;BSR]OC(.$W-K$?UI6O+_T1RRV)X1K:]LBOS\T^PVV]*&K?VH4JI=4Y
M+<0L'*#J4\"O^3MXM_2UW`_;(Y]SPQ]N+XHN+/1F7PP_2C3WX7K\HQ8ODD]<
MOUH]I\[8#^?]?N8PED.V+A"8Y\.\F<;T:N6F*NU!8M\G-3`)</)/`,E+KX@]
M!Y/KS[H:U3,9I9;D_:ZN;H(\:1B5CQ9$BXQJ6BX=+G6*%MJ3DE;>ZPO@K3FI
M9^J/[R)HBN7.H$5+*T-Q%9=029FKSP;)<.W*[&)@96_N+&,",Y32?*:<K$]5
M:\7Y%JBX:=FXEVXG5T10;4#*1PQO^2L:WI:KT\S<G:Q3,NJ\:>)Y0+]U1M$\
M(S/\9R42W)MQB%6>18F&0HPV,J7'$*RZ5%UJ[ML%5Y,Y#\DR\A'A`AFRGK6!
M%<FH,?99-?2C2MG;3Q;NK27K;,A3;-<>K5;N=&,I-%G"D4GFP"QV,]J/+(KU
MNXKCK,1(^KH^)N-KD32BC8I$4.&Q-CQ8A(F]B'K0_HR6G24;3F[8:*YM7I%I
M35ZD)5^8XS%IU]K,\[9VI64FJ#8JO-!TFOR1#)-;A+JQ8ZO(Z,NL63"Q$G,6
M6,;1*1S\NX8)!,2!U>8*T/'#Z<VX6K*S4W6<I.RO529NNO\`"6[/REPDMOF)
MNF-6B-3?K-<+/$>L.(>,E.;CK,)/CQ''KZSKC94T^"J!AL?*A6.J(>DS2'75
M"P\#(URN2VLJ&+],\R2?ZG:I5E*LZJN8M*^E%KW=7&N;G[\!'-?Z).1_\'3.
M:C[$7PQ<&:P?[F#^.'ZD?T0\\)U&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8!C'V5_P#.NN?RG.-_]CW#!58]GW1DY@@P
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`-#GAZ/P7=/_`)5<C^S1V#SI
M@OW(?'Z62+LQ;%]4)S]9[#@31PIQ;&<I34E'3%D36`8_X*H6?YL5Y25V.]U>
MIJ<<;,*!&0PP+-EN-/$&B#*E_5`1988QSI@^8G+-.WT3?6J<DQUU89*HZL7D
M08UBJ<DFT&LR!G'"I>J6Z8EH^<AY6SFQ`HFKG#P(K'HA4.;)).BGI:$C3#18
MZ24`,A\4#<OG'O4VIJEEF:=]G5!1XOKYR&8#$E5?G88]RP!Q;>XL"4MD?)>I
M+-5>+YHUAQHI8@9*_@[R!2`"HCTSR#B(J4B5.>;@!%EL95_3XTJYQ)<&Y@\D
MIU*NA<TBJF<NTV3EFK'8@EC'2=@V`*Y%R-KBI:>].-"V/IA5:XFL%D.(2G3_
M`*@A((17GS2Q`ABCI/%DJ76.35V>);V66OCR\3%OD"J#TV?%B1#5R`QM3H5I
M8?=;2T\AN[4:O7'0CK:=^+R@=SNPTN>)&R&V$$^;:\]IM.X6VJVS:W-HA9.4
M'4IX%?\`)V\6_I:[@?MD<^YX8^W%\47%GHS+X8?I1I[\+U^48L7R2>N7ZT>T
M^=L!_/\`K]S&$LAVQ<(37?GH.0P#+J.[$5>'I<97FZI*'FQU!F:]$:&F!HF*
MA9>V<86OB2W+/"=AI-Z7&/%GG;\$X`;$+389(X,_1+;CC[>'"VYSE6=:SE$H
MEGI9(*GKZJ1(%H[F5JREW$LWBN2ERN0:,KCNU2EBO'I<DNNOR%ZG'O5(\578
M>OQ1;%@L]9G!1PH0>`]>\?Q$[J"'-D3&V<K!M2JI)SDEG4DL\[$\\Y.4W:6?
MJI-O;.F9=2,0>4+%&6WD&VV2';=3'2\P04.Z0WIDH_QZ0V]+F,:4O3!LV^AV
M7-8\X[YDHUYKSKOD><5T2DDGU_A"P\H(DY^_`1S7^B3D?_!TSF8^Q%\,7!F\
M'^Y@_CA^I']$//"=1@#`(#[*W2Y43BUF5H$G%PMJG.5.OW'($S,0V["##B\N
M<^\9\5S4KN%U(129`N.@[E)&1K#I[`_K)D19.GF$.,.BJW?Z*9;_`,6O9[WG
MZW]'Z%^O^!2Y[UR'Q:]GO>?K?T?H7Z_X%+GO7(?%KV>]Y^M_1^A?K_@4N>]<
MA\6O9[WGZW]'Z%^O^!2Y[UR'Q:]GO>?K?T?H7Z_X%+GO7(?%KV>]Y^M_1^A?
MK_@4N>]<A\6O9[WGZW]'Z%^O^!2Y[UR(?["Z[7<-<!\W<O1/8VGS$IQ7Q'R1
MR-&Q,CP#%M`2A])ITS90XXYT;D!)#89I$8V,2XPI+R&7%J:WI>D[P52;2DZZ
MUR)@^+7L][S];^C]"_7_``2ESWKD/BU[/>\_6_H_0OU_P*7/>N0^+7L][S];
M^C]"_7_`I<]ZY#XM>SWO/UOZ/T+]?\"ESWKD/BU[/>\_6_H_0OU_P*7/>N0^
M+7L][S];^C]"_7_`I<]ZY#XM>SWO/UOZ/T+]?\"ESWKD?F]QQV?;:=<UV>K>
M]MMK7K6^OT+XM[2G:M:W_P"'_P#K\6!2Y[UR(IX":[6\O\$\*\LRG8ZH1$GR
MCQ+QQR)(Q4?P#%N@1A]VIT-93(\)TCD!1#@@1$FX,,X^I3RV6T*=WM>U;P5R
M3:DZ:UR):^+7L][S];^C]"_7_!*7/>N0^+7L][S];^C]"_7_``*7/>N0^+7L
M][S];^C]"_7_``*7/>N0^+7L][S];^C]"_7_``*7/>N0^+7L][S];^C]"_7_
M``*7/>N0^+7L][S];^C]"_7_``*7/>N11++2NT4'7+!-L]FJP^]#PDK*-,N]
M?X;3;SD>`^6AIS:+_I6D.*9TA>T[TK2=[WK[_BP*7/>N1;G%,+VHY"XNXVOQ
MW9.IQYMXH-.MY@`G`$2L4(JRUV.FB!!EO<@;=6.,Z:MEE3N]N*;0G:][5O>\
M%<DVI.FM<B_OBU[/>\_6_H_0OU_P2ESWKD/BU[/>\_6_H_0OU_P*7/>N0^+7
ML][S];^C]"_7_`I<]ZY#XM>SWO/UOZ/T+]?\"ESWKD/BU[/>\_6_H_0OU_P*
M7/>N19%VZ[]A+YNH+F.T<2TY2;K#7V%4%P)`M:W.08\@,$DU+EY=](!VU)D^
M>'1ME:U>;5IY&D;TH)JM+:5?X1=WQ8]I_>HK7T=X+]X."$-UI/;:<YTY:XF>
M[+4YB-XZH'#5P!E6^O<0HZ1*Y-E.6P)`0MI7(/F&V(Q''0+@:V=:<=5(EZ>\
M>FV?$+F3V_;F3)\6/:?WJ*U]'>"_>#@@^+'M/[U%:^CO!?O!P!\6/:?WJ*U]
M'>"_>#@#XL>T_O45KZ.\%^\'`(NX/8[6\I\<1MTD^R%0C33)^^PS@@/`$4L9
M+50O]HIXKZ5/\@*<\X8+`LF$)WOR4$/NH;\3:4:T-.2S/-G6=3N):^+7L][S
M];^C]"_7_!*7/>N0^+7L][S];^C]"_7_``*7/>N0^+7L][S];^C]"_7_``*7
M/>N1$/,R>UO&4+2Y..['4^2<L_+W$?&Y#1O`,6V@8#D:_0=0/D6=L<@)4HR.
M%E72PVU^-EPAIM+VMM[5K8JD\SSYUF4[B7OBU[/>\_6_H_0OU_P2ESWKD/BU
M[/>\_6_H_0OU_P`"ESWKD/BU[/>\_6_H_0OU_P`"ESWKD/BU[/>\_6_H_0OU
M_P`"ESWKD6'>B.Q_$;G'ECE^<:M>82:YCXCH$Y6W.&0*XLR&Y$OT%39%X2:!
MNQA`!P`TRLX)WT0EK9([;;[#C*UIV%'F=CSW*=QFQ@@P!@#`&`,`UF^$[Z9<
MJ]SN/.%J]Q%9>/JW8N+.9G.23-\CD6,2%E(DCBSDGCUX`8FL0L\<U(MDWD60
M:\Z#Z,M@(AM;R'%M^/4,6+$HK93]5(2FFG2:ME/.G>KC4A[%OO%^<#JE_>3E
M[]V.=<N]%;V8R:TGY5[CU#^!I[WB-&L"\E]6QF9(5(,BR/:^8F6CPDF"2"1#
M6V^-$I*&2>`":EA_2VDEABDZ3IX=I:&7>BADUI/RKW'E]BWWB_.!U2_O)R]^
M['&7>BM[&36D_*O<1[&^"?[HR?*UTXG:N/5]N6I7'O&7(ALFY9N5_5QD=R?9
M.6ZU%@"I3QKLG1L<3Q#+D'J=:0PIB5C=#N..)*2TR[T5O9<FI3QGG_BLTN]K
M)4C/`Z=^H5PMV&Y5ZR1+I\<?#G.1ERYG`<-B)0=0DG%EK%XV:41'2(JUC'A/
M;6,8.M;)#3C:E)VRS=L*O)DUI/R__1YS?`T][Y$C9<AR9U;.*4T.QL@RU\Q$
MO[9$':#$9VZ]QHM?FA1&&!1V_*\A@=EIEK26VT)TR[T5O8R:TGY5[CR^Q;[Q
M?G`ZI?WDY>_=CC+O16]C)K2?E7N-Y_@]^MUTZE=4*%P7R'.5>Q7&NVKFBT34
MK2URSE96YRGSAR-RN('%NS@$7*/(B@+L+%$/%QXJGBPB'&V_,J;4KBW-MWMO
M>;NEF26Y)&OKP@O@R^QG9[M,_P`\<0W7A2)KLAPGQIQB;"\D2-ZCIH>6H-PY
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MJJ:WEA@4,4,6,WBQ)RQ563GI&[4?PMO@XC!V"Q.V/'!0I3+1`Q([%I?'('?0
MEUE]AYJO*;>9>;4EQIUM2D.(4E:%;3O6\Y2=SW&\5ZMZYG[>UE\'5[U7'W]D
MMGU<Q)W/<Q)ZMZYCVLO@ZO>JX^_LEL^KF).Y[F)/5O7,@#LMX3_H1;..JY%U
MOLM2)B0%Y_ZG68@0,&UK>9@:7VFX;N-JE%Z57DZT+!U>!F)LY?C\;8,>0M*5
M*3I.TG<]S*ELL>=7/63_`.UE\'5[U7'W]DMGU<Q)W/<R2>K>N8]K+X.KWJN/
MO[);/JYB3N>YB3U;US'M9?!U>]5Q]_9+9]7,2=SW,2>K>N9+O"7>SJ-V/NSW
M''"/.E/Y#O(]<D[>[689,RS)ZK4-(0T5*S*6Y.*`0Z&!(V*#$*6TXM33LH)I
M2/$[K>235JD)/II\".)_PI/@_JO8;#59[M!Q\!8*I8)RJV*-4U9"'(JQ5F5+
M@Y^)(=$@7Q]EQ4N`;'%I:><2V4,\WY>]HWED[GN$GJWKF4GVLO@ZO>JX^_LE
ML^KF).Y[F)/5O7,>UE\'5[U7'W]DMGU<Q)W/<Q)ZMZYF.W;[PGG0N\=3NSU*
MJ792DSUJM_7OF:L5F#CP;6X?,V">XYL<5#Q03:J\A*RY"1*'$'0I2=*>>1K:
MM:WX]).Y[F5*JLM6=<S(GVLO@ZO>JX^_LEL^KF).Y[F23U;US'M9?!U>]5Q]
M_9+9]7,2=SW,2>K>N8]K+X.KWJN/O[);/JYB3N>YB3U;US+_`.*_")=*.;>0
MJUQ3Q9V&I%QY#N+LLQ5ZI'MSP\E./P=?E[7+,@>L8<(=UX&N0,S,/->?TYZ#
M&ENI2KS6]8DU:F)/5O3^YY^2O".](.'K[:.+N2NQ=&JE_I1HD=:ZP<W/D2$$
M>=$QT\(&?N/AC!FR'X>7C)%+6GU*T,:.M6D^7K6)-V)B3U;TON61[67P=7O5
M<??V2V?5S$G<]S$GJWKF/:R^#J]ZKC[^R6SZN8D[GN8D]6]<S\2/"Q^#K4.^
ME/:GC_:E,NI3K0=L\>][0K6M:_\`!S_7O[V).Y[F)/5O7,@3J9X3_H32NJW6
M>FVOLK28*T5+K]PU6;)"'@VMLZ'GX'CFMQ4Q%&-IKRDH+CY$0@0A&E*TEYE:
M=*WK7CQ)W/<RM5=EKSKF9`^UE\'5[U7'W]DMGU<Q)W/<R2>K>N8]K+X.KWJN
M/O[);/JYB3N>YB3U;US*]5?"?=!KO:ZK2*MV;H$M:KM9J_3*I#--6,<B;M-K
MEPX"N0@CAD$.-Z=,S4@#&`MNOM)=+*9:TK6UZQ)W/<)/_&GP94N0?"3=&>*[
MQ:.-N0.R%%K5YI4HJ$M5<+;L!!T'+)&',7'G*`A2QD%(&+&>4VA]>TH>;VKQ
M;WXL2;L3$G_K2XLL_P!K+X.KWJN/O[);/JYB3N>YB3U;US'M9?!U>]5Q]_9+
M9]7,2=SW,2>K>N9;-U\*SX/.0IMM`"[24$DPVLSP@@[8=LVX^23%%LL,MZW7
M-:VMUU:$)UX]>-2M??Q)W/<Q)ZMZYEF<">%*\'_6N"^%J[.]G*+%SD!Q-QS"
MS,84%:T$QTK%4^&!D024ZKJM)?$,8>'>3I6]:<;5K6]ZUX\2=SW,K579:\ZY
MDL^UE\'5[U7'W]DMGU<Q)W/<R2>K>N8]K+X.KWJN/O[);/JYB3N>YB3U;US+
MGI7A,^A_(MQJW']+[*T.=N-UGHVL56"':L0Y4W8)@E`D7$AK-@QAMF'%.(8&
M;<?;TXZM*-;\>]8DU:FA)ZMZ?W)RYY[.\!]8(:O6#GSDZO<8P]LF'J_7#;!Z
M>I,Q,CQY,L_'A-1P1S[K[,:(28YKS6D(896M2M>+($FS&;VLO@ZO>JX^_LEL
M^KF63N>YB3U;US'M9?!U>]5Q]_9+9]7,2=SW,2>K>N8]K+X.KWJN/O[);/JY
MB3N>YB3U;US,;Z5X3KH9']I^P-R-[)TH:KV;B7K="0$VX!:]`RLK5)SL$18P
M1'-5[:EOQ#%G@'#$[2G2$RHGD[5Y:O)2=SW,LJ*RUYUJUF2'M9?!U>]5Q]_9
M+9]7,2=SW,DGJWKF/:R^#J]ZKC[^R6SZN8D[GN8D]6]<Q[67P=7O5<??V2V?
M5S$G<]S$GJWKF9F\4<L\<<Y4"O\`*?$MNBKUQ[:DR2Z_:H53ZHV4U#S$A7Y3
M3&R61R$K`FHJ1C26WF&UM%!OMJ3XT^/<(0QU2E(^#ZXAS4L6T!%1%IYXE),Y
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M]<R:>"^[G5/LO:96D\%<V5+DBV0E?=M4I`PB9=F0$KK$B!$/2ZVI2,`TL-J2
ME(X-QQI3FT/F,)4G7EZWDDU:I"372?`]G:K^2'%ORG.L/Z\*3@*WP?!F3F"#
M`&`,`8`P"#N>.RO!76*NP=MY[Y*K_&5=LUB14H"3L&SMM2UD<B96>3#A-1X9
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M1-BA):'-:>8;6R:`0UM/\#Q[A+"2L`8`P!@&+73W\$UN^5+WE_;8[!8*[?!<
M$92X(,`8!_._X%_`9PQ^B?CK_!\/GN@[$/PP\$<8^W%\47%F8/"=$J]\F;&)
M9'#R5Q-?&DH:N1-LJ]'D[,>1:JW"%C#6:X@2D$"W"0DO*VDYMX!]U\"#)\;@
M`39TJ`B;4M;JY-RHW8I-SE(S?UU>2F!UDJQ@]?*)YLJT:FP1,<:TUMJ#DO1Y
M":E.-(L`1)(=Q2T5%1A/([H5KG7$`+B9.AWT>,AIX6%:.+SCVJ5F[^6>6?%I
M?-`N:&ZF4B2$C$/<ZP8QTJ%29ALE,7%N!C`6*K\GS<N$F+5;&YZ0D092C1$)
M&.J$C!I-^PB.#MO-&QSKQX1Z+SWWI+,UGF[MM"R5]WWX2]3Q'];..'H5*:[R
ME&&610NML;>GX-R+E)!OC+BZWH$BP5"1T@OUW:+99ZS%),*%?'6%'CDM/R$?
M*-%%&YV4V.BQHE7=/Q)UZ?8MJV=;ZK6*U9)1OFJMS$]`,3C[<$!'QC@<GZGL
M-MAVFA9EFW$NJ=/"IY<JUIB');UJ8K@[+A3,FZ<%5&W+]-WA.6K7O#WF)^;!
ML0\$+^48KOR2>QOZT>K&>?#_`,/[?8ZX.R+;#PB-?=@_"1SU\J#M5^T?REG3
M!?MP^/U,SA.T]D/TH_6(AY6P2D?!P<<;+S,L6P!&1<:,Z8>>:4XEH<405A"W
MGWWG%)0VVVA2E*WXM:SI.571&#W3]5LE6E2H2Q0DE#RH7H6R0C176GFT2034
MG&NZ_@[0XQ)1K[,C'D-*6P<`\T8*X\,XAU433L8/&+"S!WI7H43)%^@C'&&^
MC`DO^AB1C>G9(HKS;2O1QX]I27#7G?(;%0I*GE(TI/CH*T%0KI(PQ%B!K$R1
M!"D28A,L@%[T!@J&"!D949TE24MH?`!DX\DEI6]+;:-&5O7^[(UN34Y34[MH
M+:2&6OQ^0*0KR?'X_)8=5XO$O;6_'XD[\7B<UMO?C_\`OZVC_P`;[V68//@&
M4G0/\HIT8_2MS#^QEVCSCA^POB7!G7!?S^#_`+@*%W5_'W[P?ISKG[//!F7`
M]CQ9,);#\/\`U$8\9U.9FY>^$^`$$EZK/*T7`!`UM)4:\Y9^/[GNT3SE>FI;
M3#NX;D#9L`"T?$"Q+RSX@25V7.ALMP"W6O)=YJ*+/#.NM24]F[C*I:3?IU3K
M,5^U]2N+J')C05QYP&@2#$Q\D,;(159%D"(@B^76B+*$@W>0DM+!>;K(5M6^
M5)"R43%R*HZ8C`Y$$EM11MSE#9KSR3MEFG+UK02LU\VOL6<GK=Q%ZCU)J[.T
M%1_P'%LRHIKU%Y[<N_#MR3\"C;]O87Z0!(J57"1'6FIITM/K("*,$\XPV<46
M@[=M)_=5SW5<A+7UU3\3:JL)URX'+/@27^R=<)B"K'-1\C&NJI<#-+C(*VR5
M?61Y^5Y";B8I$G#QJ+@"::>H(N!E1!XAZ5F4,`R!Q12?Z7/5-VK9FL=,SH0P
MTG!PA)J8$C7M$1PTI(#QY&G4/Z?"9+>;%>T^WK3;VG6$MKTZWK2'-*\M.O)W
MK.BL0*MQE^'GJG\M#I;^U7P_G/"_MQ>'U(Z8+M_UC^B(E?LI"2]C[S=P(*`C
M#9B9E.RMB$CHR.&=+-,)<JM-\EH<=E*W'%>+6U*\2?$A"5+7M*$J5J8'L>+&
M%[2^&'@6XC@+F9?E^3QO:?X$BW$J\<>I._6#P6I-@=.E*UM?I$7M,J,ZCRF"
M8I29)AQP%22-[QH;]9S+?DN+>18B$D[))4V?%K\,=ZNE)E0#JXP(OSP8JD/&
M-:6QYM!<C'@NDI6H9H\\$%QY!98[+E42=C!X+%Q_=ZB/$E6>J3T$-.ANGQ#T
MG&DBMG"L,!E$+94XWK7ECBR,:62ROR'QQ9*.)>;0P<(X\33L<Y`M\:*E#26`
MPXT\LLIT=@848,A\DA\LA(@C+##3:W772BE)&';;2I;Q"DLMZ4YO2<LP5F+I
M-OFG91B*K4T>]"CD%RS0T>0MR.&$<>9*?+1Y'E,-CNCD-/*7K6FG&74+\2D*
MUJ32SV@I!D1)@'%QI@!3!X!1`1@JF5[='*%>6.0PO2=*UY;3[;C2]:WO7EHW
MK6]^+$U?U*?"H+ZX(0MOM'U$0XA3:T]L>OFE(6G:5)_^LB"W]]*M:WK[V];^
M_K^+.6'_`&_[0_4CI@NT_ABX&Z+P\O\`)SIQ^FV_?J8N.<L#V_!G2+]N/^OU
M&A+/6><NUBA70JJ$WD>KS;U/#*T&38VX\A<4R_Z2$#O2RM(VCS:#I*-`=?UX
MV&3Y*/!==06<*R[)J<IUN!;>@C-JTC0A.U[>]'TC3#NU;(\:T^8TG2/'M[QM
MN:\UXO+\:%Z\GQIWXJ"L#5.T&2,1$C5Z9=DY_4;N$!U'%))E4S*E(B%@-+:2
MHEN34A>@'6M*;+TE6V%+3K>\DU>#XFJO8JX6V!.PTA%&NM+>0*8,XT_MMLLP
M%:MM;UY:?)+CS6-Z5K2O+&=^]Y*?'LFG8"C.L/L>3YYEUGRM>-/G6UM^5K[V
M_&GR]:\>O%O6_O?\.O\`AUE!^6`=5G@;OR=7!W]*.Q7[3W,V>&/MQ?%%Q9Z,
MR^&'Z42=Q?\`B,\A_P#,O:S]8?+F9-?R7]>".,_C3\'%`_H35?\`80&>]6+8
MN!YG:]KXDK5FJ62YRK<'5860GI5Q@@K04<.I]U`@C6WBRW]Z\38X@S2=N$%/
MK;893]]QQ/CUXS:5I#Q'0LQ%R!<5)14D!*`&F1IT<8$2,<'(1Y"A#P217FT/
ML%A%)4,6.XA+P[Z=LNH0YK:<H#$),DAD2`T3)$`"["22:R"4Z(.J2?>&CTO$
MH:VRTH\@<A@-*UZ44ZP^VQI:F7-)3!67Z)<AH1BRD5J88@"1?31I9T)UL$@7
M1H4=MYA]6M)>1HV1!&WYORMZ<):UO7BWO>I-63J"VO12?(VYZ._YM.O&ISS3
MGD)UXO'X]K\GR=:\7W_'O?B\64'X8!L]\#%^/?;?DD<@?KCX0SSX?^']OL=<
M'9%MAX1'0?VJ_DAQ;\ISK#^O"DYYSHK?!\&9.8(,`8`P!@#`-#GAZ/P7=/\`
MY5<C^S1V#SI@OW(?'Z62+LQ;%]4)S]9[#@7:+0[H=5#KR'5YLFGQA/HA]C9C
MR'(D5_3\<(M+I:4;;TEDN8AQ"'=;VT,7,1(I"VWY,%M^34Y3K=UX[G<"V_0S
M/*\CT0GR_/Z&\CS#OE>D[VM.A_)\GQ^?VIM>M->+SF]H7K2?&G?BH*P+4K0;
M(P42+7IEV2L[D:U70M1Q>B)M<R>Y%Q/JQM;2=F)DI%IT();'EH)*:<9:4I;:
M]:35:V6ZMH/B9J]BKS[`TW#2$602.DIA@P9QIUP=?G?(>TWO7E:0O3+JD[5K
M7E(;4O7C1KRL33L<P4=T=]CR?/,O,^7_`.+YUM;?E?P4+_@^6G7C_@K0K[WC
M_@K1O^)6O&!^.`=2G@5_R=O%OZ6NX'[9'/N>&/MQ?%%Q9Z,R^&'Z4;5,R!@#
M`&`8M=/?P36[Y4O>7]MCL%@KM\%P1E+@@P!@'\[_`(%_`9PQ^B?CK_!\/GN@
M[$/PP\$<8^W%\47%D^4T>$+M]5%LSJ6*V39(,>P/J>6.EF$>DQ6Y5U3[?^Z,
M);`40O;S?\-O6O+1_"3K*['*V1DS*?XPZQ&W4U\^]Q$!6Q+C28J-K]=L,>PS
M/5&7G0P;18GIDRZ\K>IR*R&2RZ2R3.MNS0ASDH#%0C57G6"<3CE15DW9G2HK
M%;L\;G7YZ\"RP.(^OANQ7G>87@!A'((*:'=D:PL\J0E7N&W"/4:7]@C;CA!;
M?RH*3)O/$`1Q/&K1LF4,U-"@NW&BT9W4:TK?%+P="TO]-GYW:RL;X=ZWO/[#
M>YNC06X]!(I,G'%M&(WO5ZY-#"D"4GM,[L1!D#"T.,VW5PHH2,9LK%O-'(A@
M3B#YC1Z.]:EKOGMEX#QZZX[2P+IQSPG'46Q6.G<FO2E@CY"N)B:Y*&1&B#0)
M**KKDFPPP`*HZ1D0I60GUOE;'AX:-C8%+#IDA+2`PVZG%-)JF=[^2OM(8V9L
M&Q#P0OY1BN_))[&_K1ZL9Y\/_#^WV.N#LBVP\(C7W8/PD<]?*@[5?M'\I9TP
M7[</C]3,X3M/9#]**[2K=)T2TP]LB&0B3H<A;J0Y)IYZ./'('>"/CCVQB!"M
MAR`!)(1*@S`S4,OK6&8*4EHAO;4U(P99\<<P\XM42W'<3\7U$*F0-CK[!K%;
M9M;KD'*7-ZF04*)#1)-Y)E9R2D9NC5K_`,(U!S]IC9:6<CW+`!'V]N+.PX89
MK&;FUOE/P2JZ6;A]NNOR79'\]]JB8,;8/$P\LP8JS3+L@W4+Q)2;P<I$J?DS
M9CR+"\ZU6UHM@-DTF18:KDN4IF1-;DA3)Q$G,6!4QI6*U+P6;5T@?O+<G=M+
M7-<A5A7#(J9E:KJY8HD*J6QTL=<M4H7B.;%A%OV,QR8(&#I'CB1@GIDER0"F
MWQDFQ(&PH\E`I18UTG-7MUDN]6S,5S;LK<I[O`MV7[A=B*B=$RY5)B*&U,DD
M6R-'5!<@0D=8_6?(IW*)LFSN4MFW9:./LTS)>4H8E83<5)/1X7H[:VUIN3@>
MZ5JI3%NN7I43K/Q\>OP8+.N;==<=WI*=NN+<VE&O)0G:U;5O2=>/?B3K>_$G
M7CWXM>+7CWG0AE!T#_**=&/TK<P_L9=H\XX?L+XEP9UP7\_@_P"X"A=U?Q]^
M\'Z<ZY^SSP9EP/8\63"6P_#_`-1&/&=3F9!\727!('']T:Y-K[T[<I68`B*F
MZ(1/AF0$<?6K0.19D%@RX<.AF`LCE:ER!)&%LI$PT$J&:`%&/+D1<1**:DZ*
MKLK6RS.MD@2<)4.H!KPAQ?)ES1I,U,"ZC)B7,=65$Q1%[&B6I"2C^(W51`9D
M;#<?2C$J$/,OG+MY]93`P3D`5869/"7+;+9?$KW3-+/,M.KJZNIV4//+47J8
M_)3)\9RB>V&:J?,@('15AB1`-,RM98``D9@CBZVGB"MQY=QD8Y*0)^1E!H"'
MC2B`CYALUY..<L7:^FM6_4R===9BS>8:YUR#K+DWQ-;9HFS/6X$1NIG%&R$<
M/3R*\Z4[(M&F5*&*7*#S"!AY%HLY#(RC/18Y$OYHU^+U"XIU5+]<^I=3&-&:
M!=7&7X>>J?RT.EO[5?#^<\+^W%X?4CI@NW_6/Z(C*"^@W0SPB?<)RA"5F1G@
M.=.3#'HJW3\/7826KJN-*Z%;8XHV7G:WI;1-7,ETEM1<N'--1^C#XT@9X+TL
M?&#EDZT3;4]KI?G\!A.TOA7HCS5&S<Z56?",IW"3,<"-+B<D1<;%U>_ZK(\0
MJG25`&F!+`Q8]2*J>5$2)<A\,/A.MTF2_P!_/A0I/G5+VU"U6*U2JU.V=DK=
M4O`QK7^'EY,WSE8PIRM6[@`UF2@994+JRHK'*4S,U5N>M(,QJNQ\W,V:?CBV
M+#:I=HB.EI=$W89+5H]6Q,^Y#RD>"FPXM&HJ2LG#62U*=%FG*DY3FQ_LZEYM
M\B=B*V58K</P5'1LU.Q%@<OTD-5>0=3A944J!/F[;>8YJU*)AQ&?][SB8*5C
MXOB^2:D"WR*@<.YXV)*%T<6>E5GG14UVK]2S-"=UU;?7J6HJ$EV/[35?4P19
M>+GHUPP:,-699J1R$*J%#K%QLMLC2H[<E--,QX\--623"%+4A6XT%I$>P^/Y
MR2V<Q(**?JJSDOMSL4D^O7K_`$J-LYF[,E@Q<<_QY1SGB:78_+AZCZ=;K/#5
MJ=B*J49)6V"A;O/SU9(&A"JRXB1M($>08Z4Z[-N2<XB34P4,%[VO/;GDIY[+
M-1"IB\U]P$&OVJ-X+>!EUVF)F3"PZ+R0-+R9D_=+?R/#"M1*K+HLF!((K=OA
MU/Q,>EER!C#X^7D79):#79BP68V:5JN2N\?&XLW.=_.?&XQVK4ER!8>X?3:T
M\BP,K"R\UV*ZH!B$2D5-1NYZ+J-BI=)`G&W9Q;Q,H1("UUE^6DVR'1S)E9[S
M21D+2*SC"R6#DG.4<-V>*>;:;P?:?POA(VL>'E_DYTX_3;?OU,7',8'M^#.D
M7[<?]?J-"6>L\Y-U0YTG:?'4P4:J4J7E./Y5!]2LTT)8'9V'"^$K%M)A!O5]
MDC8E`9<VV2^J51$IM8;,E(#1=C`:6.D;+A3G;6U4WV?BBH#*9OFWM2B&HU]#
MHE;F:])B/6*JP\4N=M!#\361KS3#I^9K@-WD[2L,<8N?B[!8[4PMV<2(*Y9I
M&53*&+F<8L$VIN:E-V6UE.4M<E9FD6RNVGXG/?;K/Q,Y[[9LB.`%\'$#)#L=
M+TM3_&W)B'`YF)LU8G:O`;21,[0.V>4[3XL"!4A.E#G1KD,.+-S[TI(L6!/M
M7N4U<ZV;7/;.:H*RE+5GOGTON6F?V0[`4CT6;L_%$1#I:+=B(J2LU-OL.,++
M1DERH5)"B./6*.%)DT*Y4MD=(!E>E[%'"C-)%&.!,*,J@AS/;)JMG"1)]7$!
M\J\[WOF,"M1]T=")352#2(PEE4LZ9O9]6H53):?>E):3UMA8O'D7)[;80/Y4
MU*3YJ]K0<P.'J&%0SEGYM_?=(K<^MG&1#.:(=5G@;OR=7!W]*.Q7[3W,V>&/
MMQ?%%Q9Z,R^&'Z42=Q?^(SR'_P`R]K/UA\N9DU_)?UX(XS^-/P<4#^A-5_V$
M!GO5BV+@>9VO:^)-M$O)5%/EB&X6$LD988$NM6&O6+4OJ)F8<LL"2]&(?K\O
M`3HBQY2*C)$<B+F0']$`M-O./!NE"OFIRJU)S34I^J9#,SC[F3LE(TJ"G>/J
ME00*[%6\>F0CH4H1#$KGUVBNV(.NP-?*OHKH`J'['$1DANJQ$:Q-Q4CYRTE3
M$H`W*@8<,$VFW-J;5N9U;EJSO-*689NM1^D=V`[4PT;!B,\(JT#7ZG7FV5D<
M=\D^297(Y@R*A)B5<U-(0<'L/4O'Q1SW^@1VU/*KVHY^'B%Q,Q8*_JSWJ<[7
MS?JBUZNS<:/<>5SFSM4U(FK*X0)V_P"N66Y($CC?D=OQ'VB_5'D<2(*UJ6;,
M8=FI>%A0@&MO-R1<1*.($?7(F!2;+%@TK-:UJX74G<O&?K]R.;%VSYC9C[!0
MI&%@ZT`N+EJ=,5705N`]6M.57D2AG`E1LG9WWFY$(+D&2=<3*-D/HFJY5R#4
M.^J"!SM8D-'6DFK+T[M2^Q)];^9B1FP;/?`Q?CWVWY)'('ZX^$,\^'_A_;['
M7!V1;8>$1T']JOY(<6_*<ZP_KPI.><Z*WP?!F3F"#`&`,`8`P#0YX>C\%W3_
M`.57(_LT=@\Z8+]R'Q^EDB[,6Q?5"<_6>PX&;D?7NQ'%"ZS4M\,5ZV6[C6SP
M4Y6R@6#;Y;JJ5,6,NTLP6XRC6PF/::DY3C.>62\?!.6$*-<D'(V9``F84M7)
MXL4WCM*)--42=$IS:UK/;*=C19-9JJ5],^9EP,\_]JM+AY9KB61=B!@]3L4*
M[2^3S88J-JD+$UTJ9>(+GB2)QJ/B'(P*Q3LF=(OGMR?DV4XY,R^DMBP56-7:
ML]<TI5K26H-O?_GX*R%V&[1$SH]5,XRJ=<EUKAN1VT76'LE*#"A*#R%)<@#2
M#IMON$1&!U$::&=KZ&G7DA^1'H`@]LW$HJ1.8L$FYMJRDG5J5TYR?K6@LS2?
MYW>F8IP'*7:(9Q]`O#$3/#1>M5D>SQU;MLU4P"8N/Y8I;\H%<J]:W*<>RD#D
M^]@D2KDI(5W21ACT>0J*=)6E`UVO":3MA=C4[4NF*KK:MEY9_,C/:;EB+2+R
M/0SA6..I*]GE$%MR09<6J"H=;E[.HM=@G3=HBMU>L1TQ%$CMM"V`Q\E$,3*D
M/CB,V'$3FG.<N+N5[J35=/KT,*\Z`ZE/`K_D[>+?TM=P/VR.?<\,?;B^*+BS
MT9E\,/THVJ9D#`&`,`Q:Z>_@FMWRI>\O[;'8+!7;X+@C*7!!@#`/YW_`OX#.
M&/T3\=?X/A\]T'8A^&'@CC'VXOBBXLEC-&28>'K-Q]4R+Y*WZN-6IS=%V+2X
MAY`>]+M[UUI>]D)?E("SQ`FQJFW:W5.R<*4P\UIP$9P.3+`-'S$FY2<JUV2>
MM9Y9RJ6<EV,`Z?NPLN9*S-N'E@TAIB(@?<[Y^9?8JE>),??/377HT(.2MA]G
MCTC;:9*CA(*+?;?*8,>=+S^O;NOY?Y,G77J5&-ANES\FQN1M-P#AW7K$MS6]
MV-R287JRS&HH0A`]*?%1#[I*8)4+*BOG3&[HY)(LL&W74CJQ_P"FK-=*S;.V
MU4I8VRTZZN]<TC#%7B\>_)\?D^/?D^5XM;\7C^]X]:WO6M^+^/Q;WKQ_Z\Z$
M/\P#8AX(7\HQ7?DD]C?UH]6,\^'_`(?V^QUP=D6V'A$:^[!^$CGKY4':K]H_
ME+.F"_;A\?J9G"=I[(?I1X\Z&#++@%'.EPK4SQ]QQ<(NM4]XZQ-S8,D*8X-)
MR,QQ[9+F<0\Q!5JQ3TL='U[AHDVOK&$)+@+`%$$02`Y*145OG%BIS:;>;4II
M9VE:_$JG?)9^O"A)S4OW0EY"X)AG(NRD60651)%1X/'S$B9`<@)5QQLB*@Y0
M:(M-?@IN/B&XN.C'8*$W$1X89KL3$NQPA`4E@Z.JK15=56MLW2KGXUJFZZMF
M>E,\N%#_`!JR]S2Y-H1J(JQ1LM+&/,">I^&R6)UT\1[E@TYA"_.#S=>B8R]?
M"4J98457ZJ',#)).B]I9:;K4"5=F>=V^F^I/MJZGXD`<^V'FF5/J,9S/*N2$
ME$P)+,0R\,,*4"W%2QE!F0Y-M@(%?KJ)F:"36)9;S;FW2:YYY!!B7?3R]0XM
M<6_\^LY^(,?\T#*3H'^44Z,?I6YA_8R[1YQP_87Q+@SK@OY_!_W`>7MV^$-X
M0_N43)-:?CA^PU-?/8VTE[3P37`G`[A36V5_P'=.,)<1MI7\%S6_)5][>\8+
M]NEM282V'X?^HB2=7+IH1,S2RJ#,-14N^A+[P@TRT8T"1=>,)Z47"B-V5$9!
M2K->C>2X"O[CQ1HT=$K%#R(SX:W7!]2PE_TW.6MUE/G;BEW/D6V58NHFC2&!
M:#.>@/!NHV7N7MY)`DD5-#CD.Q2EV"-2Y&1T$@L^N-R\:\;HM\8:Q;E_,.Z=
MLH]);)+EOV$ZZZWERJM?30*+'C0ZG.O)=!ADSTHU%2+]@-(T!R/'3&Z\JQV"
M8C8!XD4N@2+S2TD-A6-,@N(DW`(X9][,L(]6Z6:V^OH"@KE^GJB=C_!F=1IV
M1&)?DF$7'U6P@0_B+2H^+C7[LN6;KTI&ZYCU)+DS9&RCE[KI44:.WYN,UK]?
M4I_R_P#F[/M%):_\_)Z(^_\`6V'Y;J\I"U<=OCB*I]OB"P[)3`;2Z[+RG(=Z
MF8(LMB:7*,GR$;2IBNPP-BG8:VN!NQH@1$,8T*U)!R4;A<W5M6.5)*R5E>JC
MJQ%RQG)/4R.<I+<?5"O2JE*7`DZ8M?'5<F!+>#?8VTD(:GXQHXT1!G'IJZ=#
MUA9$+8(:.4Q,3@U?E4J3'&I1UK;+/*4I64_E5VKP+3KKJW48P1IE=D.V'`DA
M4&2AZF=WYZFF5@<X0"/-8KQ/<'BIZ&9+`BDHC`B6HY8R'Q(Y"`1G4J9$2EA#
M>M3"3R3G;*&>V:F;P7;_`*X3Z(B]^Q5EF*EWG[F3<"2D.21S]?HU+ZQQR4Z#
MG^/*W`2C7F2FGF=[(BY,P=+FT><94[IYE3;S;;B9@DG@Y.R?!IC"=I?"N!3B
M>R_,!T6#"R<_&R\7&0L'"1P4Q5JO+,!(K48]"P4J(W(Q!*1K%%PY#\>)8&=(
MEFD.J*25ZQ\DW73$AS*7B\]6K;)YOL8F^%V:PE3B3D+LARM9`XRI72#C)"*F
M(=\.2F(6-;$9F;-?:D4`VA(%9F2"B'+!#QDRH3<>0C<7!RC+33^G-QQV8E!"
MJJ_/J>M9J>.9!;9?ZO\`2YS)3MNTF8!ARJ],0\9`3TB)ZIAZ9"Z`@./:]\")
M"9JE8M$36KI"KJ%?9.K$6:Q6XZ79;;F%1/I)*2#<BQ-:G?KO=E76VTA<7+$Q
MV9O$=9Z.=Q5`UE=ZD:A6#@H2<JOGIN2$Y7Y)EMU^#`"F&Q)2P%<M6"S-V@>$
M&(EX=R`'&L[3+S$C*'(<55QIRK8[E5VTE*4[QU9MZ_PB2T<C]D>'78Q^9-AZ
MY+R4'*4LTR/K503.F-Q'P(?]&LL\!#)?L,F-&0/'%AAISUI,,$11<;(C23Y$
MY8D&50P1:\^?6K,RGC)KDBU76QV[G_I9L9VKYOB2WS0[2'I\@ITQU3E;KKNM
MOD(NS)"T>5&>-GSPW(UR%5MG;>TL3*TM;;6&`L6O!PO-ZO5R6ZXG76\I/&]V
MLU_[==0K!;))4M+_`'4?6Z.4:L<8=;@T=R%`C"Z<0(RPTMW3:=><>VCSKR]J
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MC2\LR3)8.LOO;^KUK%]JH3?26KDNF1E=83LI;^-8P.U`Q0O&5?7:YZJ#P@].
M#K92ZV3<YB9'K:J4V['OB@-JY*F(HI;C,5*C1=LU%R<F1&MBHTG"G1S;E.M^
M*E;_`%WDKRV5_)B'FP,`ZK/`W?DZN#OZ4=BOVGN9L\,?;B^*+BST9E\,/THD
M[B_\1GD/_F7M9^L/ES,FOY+^O!'&?QI^#B@?T)JO^P@,]ZL6Q<#S.U[7Q+VR
MD,L^(*IS1(44&Q5*Y0M8JO']@L'+``<B)8)!Y4Q!'\<Q!,V]%5RHV=V6#5(L
MUYB/;EFG(D1Z!G""$QR/+>D.<3AG53;6+X.=[5[LK7=;M55MZEJ]20XV2[GQ
M0<RH(:'0-M\^NSIJG.)7U0S@]&GK%+!2T@X8MRN"#4P>:DI5<B^!',KC4J/6
MF8B@TBR6#U_->EOGFUW"JZ\;.I/6?`+_`'2U+"1(T"*79:L19[&$"Y#\9&VB
ML[`G8>LVI]AAU+LW`M6.8CX*N^0E(:[FA@6+@?6HAA#)3_SOE.55.3M:U4J]
M6>@KQ^WX^QB1R<BTZOED)NAK$G998UNP2$J+_P"9RR+((-/@2P*?1Q-M@2D;
M)!G@M*$$6R(0RTL49:-L(Z*4E)25VPA8>4&SWP,7X]]M^21R!^N/A#//A_X?
MV^QUP=D6V'A$=!_:K^2'%ORG.L/Z\*3GG.BM\'P9DY@@P!@#`&`,`T.>'H_!
M=T_^57(_LT=@\Z8+]R'Q^EDB[,6Q?5"<_>M[3O6]?>WK>MZW_P`&]??UGL.!
MF90N5NR',)IM>K=DK`+(8=2&>'76ZO7H4=G=NE8F);$9BZ[Z,)MF4Y1LTT:R
M,PPUJ*]9+8:6W$1<<CFX8(;\^=O,K]B\93H)];^9-LU8>WYD1$B4.`CCQ&X6
M)BY7D>MP#T&F_#\@B\;0M:+4SR+7:7.^:BTT^C`!2Z8-#,0K8[>Y5JM2$:+O
M/Z%5MJKDKI-SLFJS>OQ3+5T\-^;7*7AN(<)B>VB[!"W\H&%D#C1S8,(C<GQ3
M)P\E&\DR;5S)'DHQJ4(C'(N7-Y(AYT>1D!VQHENTU"1".CDF5DC>FX'2>O/F
MI]I>#UD+EE#^\;\TZ5(QY!4^9.242\(T%QV_)^N=R/+-#*$7#@[40,E1W)/*
M44$I030K[*3S@''0ZHT9%1+!^$M?==O]4_\`:V;W_GF^D0[R+S7SI'2#E>L=
MHC$LR%9>/T%7H>!`@28+F'C\1T_;0D;$@!JW*UVRK(>UH;_>Z<-//!4P?_I.
M;4,-V=VZG^-Q#&7-`ZE/`K_D[>+?TM=P/VR.?<\,?;B^*+BST9E\,/THVJ9D
M#`&`,`Q:Z>_@FMWRI>\O[;'8+!7;X+@C*7!!@#`/YW_`OX#.&/T3\=?X/A\]
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M^;\4B4IZ12I2"T[S2L\7Q9"P,H-B'@A?RC%=^23V-_6CU8SSX?\`A_;['7!V
M1;8>$1K[L'X2.>OE0=JOVC^4LZ8+]N'Q^IF<)VGLA^E'CSH8+O@;U9JS"SD#
M"23D>#87FGI+;'C02OR:[;:D0RV^E6EH&D*U>;/#2(V_*9,#DUI=1M;+"VXT
MG;FYI\4@5V`YEY3JS.AZ]>K#$LZ9A&$-B&[0EMJMI.1!(9\:5;9]5HDST"J:
MVA2$%.IWO:=ZUJ8L+S=,'Z@\V<L1HS`85^L;`@^V/,C:-VMA+3$#'U?T3;3B
M5H7'DUV(BH60C7$J`E(Z,CA9(8IL(;35Q87:ETY\;+LP+5M%PGKB]%OSQGI;
MD/&+B@E;3O2DL$2\M83W75J4MQXJ3L$]-39[[BU*>D)0I:--M;;9;)2L!;&4
M&4G0/\HIT8_2MS#^QEVCSCA^POB7!G7!?S^#_N`H7=7\??O!^G.N?L\\&9<#
MV/%DPEL/P_\`41CQG4YD]=?.2*QQ;;#+398U4IZ`JC248$AGSKA[M8Y<XZN,
MM$-N*UY`*Y>MUV:"2<M;2/X?J]UQ`\B_O68DXE):_"<+2?@Y<<P776;:7W"\
MZ<7RCQTER;QBFPS4E%VE,@>TMZQ%&2TH[`@U_P`Y.7J<G+<@*`@`)(<$GX2.
M2(,@2*\RL@5E##$<+S17:K[J5>H%0=YFZZDR;YC_``4TT!J7AW]Q`3$4.B6K
MD9?[Y,.UQTY)&GJX4=39RD0YMIAVB9@XFFO!D)V)-%G[F+'+M9M=LH:[TW+7
MNM.NJ=7D8<P7?CZVQL$S2()$%L2SVZ2<%;C$1B1823@..XR."V.R2:(&X79*
MY=;>Y#Q1A,)#+N&PXQQIOSH@VH4TW.M%=;7[-*MQ""<T"ZN,OP\]4_EH=+?V
MJ^'\YX7]N+P^I'3!=O\`K']$1(?:[\='N?\`*-LO^%:9DP/8\6,+VE\,/`A+
M.IS+OJEZLU)U+;K4BY&NS`X##Q+/CT2*[%S`$T"<`[K>MBR`Y(&F$%)TI>@3
M)`76M(+<WD:3M![8/E#D*MQZXJ"MTU&1JX4VO*"&*\0VH61,./.CT-*2I+;)
M14G)N.[;TEQ29$]KR_,F$MNFD[5K!6T\Z<PH6\ZCD>UH>?DD3*WT2KZ7T2S=
MIEKMJ2'?3O3PAJ[7.S$X\2*MEU\V1)4\IQ#GD:F+#<NE+@A-WEL6B]V:XCQ@
M]@/T8B*=E"6-Z9;9VZ;,D,NGG/I:TEKTAP8.+BVDL-L##14-%A#CMH&\:ZDE
M8"S\H))X%_&AZA_*QZ^_K)@\XX?]O^T/U(Z8+M/X8N!ND\/+_)SIQ^FV_?J8
MN.<L#V_!G2+]N/\`K]1H2SUGG/MIQQEQMYE:VG6EH<:=;5M#C;C:M*0M"T[T
MI*T*UI25)WK:=ZUO6_'K`+_F^4[Y/3DG82K"</(2C$H&]J/=6$,/&S%H,NAT
M4"RTKQ!QJ[0>7,MB,J2VR8[M;7D^).M3%4I6_P"2K?2@*R9SSS&>:W)%<C6A
M9S)"RF2$2"F%M$.2E5FUNM:82TEM2Y6D5$Y6D)TG;]>BU;UXAD:R8L-W55]W
MO!YR>:N3#PRP9.U2$J.3&SL4RF04E_U8'9=E)FF8K6DH0"R8+)38"!6T[""#
ML,\F/%$>DR'ML6&Z[QE9._-N0(LS0&`=5G@;OR=7!W]*.Q7[3W,V>&/MQ?%%
MQ9Z,R^&'Z42=Q?\`B,\A_P#,O:S]8?+F9-?R7]>".,_C3\'%`_H35?\`80&>
M]6+8N!YG:]KXE[92%W_#JS)J+=';DG&JZ@F2?=$:\:%%MR94#(.`F.>5OS\>
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M@[(ML/"(Z#^U7\D.+?E.=8?UX4G/.=%;X/@S)S!!@#`&`,`8!H<\/1^"[I_\
MJN1_9H[!YTP7[D/C]+)%V8MB^J$Y^L]AP+LJMWLU*5*.UF3(B2I5B+:6<&ZZ
M.>"_"6.%M43)19;#C;T?*@3$""Z+(#K2^RRHIA"M()<\<:3MJ"['N=>7R%*4
M[R%9-Z\_%D,M),TV.$["O,D1OJL9IM`\2T.0.._MB,:$8??''>);><8:4B8L
M-P/''<R\IQ*!FHZ]6$5D,5@(=A!NU,)"'B*S`-!+8<2MEX/U)3:M$N"O(<'>
MCH,`1YMQAK:%7%5W57Q;W@K<9V"Y:CI@VP+N,K*3!@=A&2?*EEDO!EV>/MD9
M)S0FVR&$^N?1;W<-C%DI)0P589`U+&S%-/M3%4I2I3TE3T6Y`C6Q6*3M,BU)
MRJVED,0]>@1TLM^::8BJM`1M9A!6T>-6]Z%AX@$=3JU+>?6VI]]QQYUQ:M)2
M!0L`ZE/`K_D[>+?TM=P/VR.?<\,?;B^*+BST9E\,/THVJ9D#`&`,`Q:Z>_@F
MMWRI>\O[;'8+!7;X+@C*7!!@#`-7(7@8?!OQ@0D='<"6"/CX\4<(``+L+V;%
M"""%:0P*((*QS(VP,*,PVAD<=E"&F6D(;;0E"=:U9N][QX0^6'D>KV-W@Z_S
M'VKZ1O:#]\^)N][V*70^6'D/8W>#K_,?:OI&]H/WSXF[WO8I=#Y8>0]C=X.O
M\Q]J^D;V@_?/B;O>]BET/EAY#V-W@Z_S'VKZ1O:#]\^)N][V*70^6'D/8W>#
MK_,?:OI&]H/WSXF[WO8I=#Y8>0]C=X.O\Q]J^D;V@_?/B;O>]BET/EAY$T<`
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MW]T;V@^]O2=[U_\`SGQ-WO>Q2Z'RP\B#.KG@F^AE]ZR]=;U;N(;=,VNZ<$\1
M6RSS#O8;LL,[*V&Q\?U^8FI)P<+F`8)APZ2,)*6R(,.*TIW:!V&FDH;2F[WO
M97*;_3#:_P",/(G;V-W@Z_S'VKZ1O:#]\^)N][V2ET/EAY#V-W@Z_P`Q]J^D
M;V@_?/B;O>]BET/EAY%P5'P2W0.C7"G7RN<)33%HH-OJU]J9LGSEV%L8<7;:
M5/1]HJLRN#LG*TM`R3L+8(J.E11I6,."44&RI\9U*?)VF[WO%EB2MLA2=:.J
M5Q5>2?!8=%>6^0;CRE>^&IB2O-_FEV*W2\7S3SW4QYF;=$%!=D7(.H<H05?$
M(=%!%:=V!%"(<\RE:T*<VI:DW>]XMM2>V%/BBRO8W>#K_,?:OI&]H/WSXF[W
MO8I=#Y8>0]C=X.O\Q]J^D;V@_?/B;O>]BET/EAY#V-W@Z_S'VKZ1O:#]\^)N
M][V*70^6'D/8W>#K_,?:OI&]H/WSXF[WO8I=#Y8>0]C=X.O\Q]J^D;V@_?/B
M;O>]BET/EAY#V-W@Z_S'VKZ1O:#]\^)N][V*70^6'D751/!1="^-KQ3N1JAP
MM,AW"@V6(N%2DI3F[L!9Q8FRP!;9\-*^H[3RG-0![T>:TT2.W)Q9@^G6T+4R
MK:=8FW:VQ98DMD*7!&0G8[J5U_[:PM6K_/U%(N\929TFRU9`=SOM'-AYLR*+
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M0$1=5X>-L/6P>`F14G1$Y9N>H>5"6MUI!<;)\R\EA'"J<8<:?;20*^ZTI;+K
M;J-+VIMQ"]:5H5V^"X(QK'\#-X.,,=@03@BR"BBLM#C##]B.SC`XX["$M,L,
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M!80X^IK6VU2;=KF-5$M22X(NGM5_)#BWY3G6']>%)P56^#X,R<P08`P!@#`&
M`8\]C>JG`W;.LUJH<_4=Z\0-/M*;K61Q+?>:29#V=,%-UGUH+,\?V:JS7E+@
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M>ZAM:&$M,MP6^BW46Y$L^N8?^=8W^W"__-P!ZYA_YUC?[<+_`/-P!ZYA_P"=
M8W^W"_\`S<`>N8?^=8W^W"__`#<`QJZ=+0[Q':W&UI<;<[1]XUH<0K2T+0KN
MOV!VE2%)WM*DJUO6TJUO>MZWK>M^+!7;X+@C*?!!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P#0WV,\,OR%PKV*YMX+JG4RG7V-X:N$33G+G8.R\S0C;"9(\?
MTN^/%HJD=UMY`8BQAF[FS&-Z5:3W25@NE*2,EY`[>X<'%$IJ4MH;@AEC.*;4
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M=?'OAP^3+7RAQ!0[)TWH]=AN4>9N'N(2['"=JIVTR5=5R[R95>-!+`/7#NK=
M3%G$PAEJ'DR(MRRPNS1A7F&Y`=U:%ZD6"BA3;E):]<BIP1.2<4Y-UA25(6\T
M;NN.AK.8&`,`8`P#05SIX:7D7BGG;FCAVK=1:9=(KB+D&1H&K;/=G9JD'V$F
M,C8H]^2^"\?UGO(\2PO<IIEICX3R;BM,[=6XCR]-IZ0X.*)34I;0XH%:XIZH
M4_5Q+@1?[=SFCW'^,OID6C['67(QZMY,?!WQ^2'WCV[G-'N/\9?3(M'V.L9&
M/5O&/@[X_)#[Q[=SFCW'^,OID6C['6,C'JWC'P=\?DA]X]NYS1[C_&7TR+1]
MCK&1CU;QCX.^/R0^\C#EWPRW-7*=4B:RGIOQC![C.4.$>1MFJ[<VF1T^GA[F
MB@\N+A_1]=1@?-JL**0J`2?YY>HI4GJ3V'(Z#W'DLC'JWE4>#6>//_"'.I:9
M)_MW.:/<?XR^F1:/L=8R,>K>3'P=\?DA]Y?G$WAM>2;_`,P\.\96;I]2:I$<
MK<JT/B]ZT0?:2<M\C77;W8@JZ-,M5D_K!31IIN/(.;(?!59HA3S*%Z;*2OQ:
MWF+!Q0*;E*:5M[D510-R3BG6V%)44[5&[KB6^Y'A:KQU@[(6[K_4.L-5Y19I
MU6HMB.N%C["2W&3I3]W`/D&H\6N1O`')R?-1S0/D.'/6!M9*W?X(3*4>-2&"
M*.;4J:PW"NTXJW0I\8D8T>W<YH]Q_C+Z9%H^QUFLC'JWDQ\'?'Y(?>?:_#L\
MV(TC:^CG&J-.(TXWM?<:U)TMO>U)TM'CZ<Z\I&U)4G2D^/6]I5KQ^/6\9&/5
MO&/@[X_)#[SX]NYS1[C_`!E],BT?8ZQD8]6\8^#OC\D/O(RX:\,GS;Q50`:1
M]QIQG8-@3EWFE2;?;>U1VEIN%YLEST/L/[D4_;?JY,_ZNV]LE6BMB;+\V/I[
MT9ID8]6\KCP;SQYOX0YE+3).WX=OFI.]I5T>XS2I.]Z4G?<>TZWK>M^+>MZW
MTY\>MZW][>M_?UO&1CU;R8^#OC\D/O/\]NYS1[C_`!E],BT?8ZQD8]6\8^#O
MC\D/O/(;X>_E6'8U(S/2.@-1+!`:9%Z,[>6&0D&1"#&!GGPP2NI,6.80RA[;
MK0KTD`V^I&FE%CZ5YU,>"C2;<I+65101-).*;LG"I?6SI0SF!@#`&`,`QC[5
M?R0XM^4YUA_7A2<%5O@^#,G,$&`,`8`P!@&OGPAW>&:Z-43B>U5WB*,YCF.5
M>5E<8B0<SR65Q;&P^F>.K[R&1.$3P7'')Y)>TC45V,9C&Z^SYU^2;(7(,-C*
M;>L*<325K_T42;;:2693=J6=J^\U@>W<YH]Q_C+Z9%H^QUG3(QZMY,?!WQ^2
M'WCV[G-'N/\`&7TR+1]CK&1CU;QCX.^/R0^\>W<YH]Q_C+Z9%H^QUC(QZMXQ
M\'?'Y(?>8S6?PF)?(7-MLYCY1\'#UHY/<G>*^*^,X2%OO8!5L?JR..K;S1:9
M"4C9>Q=,I12&K0KE@,0F-$!`T,NJM%/ER.SVF8QD8[EO+E($I*+"+^JU=_4>
M_P!H[QG_`.I]Z4?.W7/L*8R,>K>,I!I83RK_`/0>T=XS_P#4^]*/G;KGV%,9
M&/5O&4@TL)Y5_P#H/:.\9_\`J?>E'SMUS["F,C'JWC*0:6$\J_\`T-R71ZN=
M5NXG6FE=@)#H_P!;>,9"TV+E:LR%)#H/'-\#B#^*^7;WQ,8Z';'N+J0]+B2Y
M-(=FAEO5:'>&8D6PG6'7!E$O<VI-IVIRW&FWFBBDTFIT=4G9-\3!WO%V6Z_]
M2>QCG`%0\&1U/Y:]#XDH/*<C;;'(4CBSS7P^M/)M:$@@X&-ZQ<I^E^K_`(M2
M32)1^9!\[ZU8&;CM>BN$/6&"*.<LTI^/^$<223BBCJW8IV2OB5YB?[1WC/\`
M]3[TH^=NN?84S>1CU;R92#2PGE7_`.@]H[QG_P"I]Z4?.W7/L*8R,>K>,I!I
M83RK_P#0>T=XS_\`4^]*/G;KGV%,9&/5O&4@TL)Y5_\`H7/P/X7SE'@CCQ7'
M%?Z0<.H@1^0.8[C"@0?:J?K,/`Q/*7,-[Y2CJK&0@74!\,0&HAW-FL#+$]&&
M,:B4G,1\6T2F-%9&.Y;PX\&\\>;^,-WQDQ^W<YH]Q_C+Z9%H^QUC(QZMY,?!
MWQ^2'WCV[G-'N/\`&7TR+1]CK&1CU;QCX.^/R0^\MVW_`/T@+EJE5*T7*4Z-
M<>OQE2KLW9I%@#N)8G3G@(&-)E3&@FB.H(K#A;@XKB!D/DCLK>VA+C[2-J<3
M'@HTFW*24[;BJ*")J%.*;:2G"I3;DI_K?`Z9\Y@8`P!@#`&`,`8`P!@#`&`,
M`8`P!@'$]W5_'W[P?ISKG[//!F>O`]CQ9SPEL/P_]1&/&=3F,`8`P!@#`+JX
MR_#SU3^6ATM_:KX?SGA?VXO#ZD=,%V_ZQ_1$=WV>,Z#`&`,`8!Q`]JOQS>YW
MRD+;_AZI9Z\#V/%G*.WP^[(VJ,!NV6NL5;4B%$;LMAA8#4M)N>:CHO<S)#1V
MI&0=\>O-A!;)])+<\>O(8:<5X]>+.C<DW<IF#*-GIW<K%+%AT\F4C!A28:/T
M/RW4Y;CVPN'2QTL%IUV,B57B.BHCS<0\6!(V&;A%SRW/5%<$F9EK0;^,HDJ[
M?TN:E;GEXR5I9=-2K=G$)TQO$L.3**N=&U`B[UI4G&ZM\H2^DGC&/Y-C"Q87
M=5"E'0#1IB)KBWG&&21K"9H;T)]I83IS*+,GZ+/*^E^P2Z\)]79RYH[HS:&C
MB8:S7>OA3:)2A1XK%=9=L4<YJ[WIJA[]+DGWH90Q,3(I-?<;8#-$.'8'>".<
M%-9*TQ]5)-UMHFR%AB]/^15POPAEK%1JW$*BW)H<N;?N'B-C&>/9;D]\P)J*
MIDJZ2PW4X&8?T\VC;1!L>Z`*X^^X/IZXZS)O-25L\6^5NL2Z]3'2XU>2H]NM
M-*F5BKEZA8YRKRJP75OA+DJ_)E1)RPWG6F''A5%".['=<896XUM"UM-JWM&M
M)S2:L:GO!<O`_P",]U%^5EUX_6?7LY8?]O\`M#]2-X/M+9%]+,G/"C_E%^<_
MT;\!_P"&9_)@+(MJX%PF;Q^Q@WG<YF>$US2@^+;Y#N/`U\L5.GXZ1C:](7:2
M;G>-8.2*>"!(K?%ZYSCQ^(JU3TNJGQFA*Y(-W&*:"V#"VF+?AC7C^4JR4<,Y
MS:4TY5=913;K.YYT7P<OON]+=92!NR7',,<_(/\`6JG"GN;K$G6WD1=5BW8Q
MB"N]AML60)MNCH:?T?%2T5`24FL8A^>BX`=HQYQ+PKL9K$>D_64I2O\`';9(
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M1;#>#[<.T_H-YXCJ,`8`P!@&,?:K^2'%ORG.L/Z\*3@JM\'P9DY@@P!@#`&`
M,`T.>'H_!=T_^57(_LT=@\Z8+]R'Q^EDB[,6Q?5"::N$^&'^83IQA$C-AL0O
MP?96Q5Z@3>K`059IP>#!?17Q96&<1!1[CKA=@F?37-Q@Z1VV`)`LX897JBBQ
M9:YVN5E7^#@7JWU(Y,\[*#N/P:WVA6]UY8)NBPK+)D2G$L>#&!F.:$TG<I\<
M578C'QVC]D3+FHMX<8=;\H)G*0\]5L]V*[J5+)]>'-'BG>J?)%:K<G:YN5HX
M43#@6:0DE:L3I9([58M9-'?2@8&-*<+5)6L$Z&C'0?21=O"^?D28X,N/),N.
MFY).<Y>,IWW$EUXR*U!]2;7;*[5+#5[172V+M!L6"N^N'$P0A`,?NO0%ST4:
MZ27H)RN<F6F$X\#4XQL67*>-GBB8.)BY%0['2M3HY.5;VKK4I_ZBRZLZKU:>
M-?4KD!NORDTJ<J3Q$>"":Q#ADS)1AVWX6SV&1`2]J$0(Q(0\165DOH>>]#,=
MDXX*/.*.V2..QU-4=9^%GA6=^9D/I[I_RJP)+D/GTA@B$%FRY"-)L3HAK2(2
MQ7ZLJ:\HN-8`](DCN+>0'8QA1R5N#UM:2M"'3%<"F)E(=>[9S6_4Y)==4OW$
M*<E\=3W%5PD:59'(\B2CF8\GTV(=*)B3Q),`>1$,C#"PP7#0W6"4:;+;'T,^
MI"U#.OL>0\O::B4T#I7\"O\`D[>+?TM=P/VR.?<\4?;B^*+BST9E\,/THU9^
M$PL4)4O"K"V2R1&IV#ANL?6<Z2C-BA';?':Y3[4?[JW'R?\`O9(O!KV@YB-D
M_%&R#PS81ZDB/O*UUP*FHU\/W,82R';%PA,>4<H]="M'F6^DVKD.Q.2T:[JQ
MRL#"U(J;#!CJ,*DJ1`IMV`BHO24P]V!*A61)J4GUVD"S35^>FX;S1?7%BS.6
MI.=L\[4\ZK24I)(YT_-EVWIE7A^3.KFHXOS/"5@(FRFK2B12)&LG1PD1-5>5
M$TH/9UR/+".$LC\2F,EQTA-5F'0Z8*%)2[;B)0U'GB2L]'LVYJTLM)UUZ'KD
M><NMPD?98.I\6S\?#R!%S(AO2HR&T:+NPTWC^(C//%.6>4/&2#8:S.R#[`\F
M0*AB3TZ(RCU@;&C,6*:;:<I4KF;:S7.[?:[UZ+KD>+7)G46*E7/1^#[!+1C\
MB\:I$^V6&8/&&7N>L(L<*P!R0MOQ`4F2@:NP:Z2M<EN#;/>0-Z<7Y]*-KM*Z
M:OE)NR_=X$*3QYSCP]`\:(XSN?&I4_'DV@B:DY1D0)V2>B%7B@3*81@A<W'$
M,N$UFN6")5-#$B2\6N26#'%[#FI$D*N&+&<2>JVRCK8U:YR=';F!<\9S5U;:
M'9KTOQ+82ZNB3:D']!140(8\6W2R8Y^3:8>N!)PPI=Y>^%#515:"HV/CW$0G
MK<\4)""YBQVS4WPNLNI.W.6:NOU9O':8?]T;WQ#/=3[_`%GC2DG50Z,H/+<O
M-.G!-K=>;,XT3')'^$#MGG)&;2N1CI&690_'0;,2/)M1#:)/8/K0HU$H8\9S
M_2Y;GFDI9L[G*=#6#_<P?QP_4NK#O`SQG48`P!@#`&`,`8`P!@#`&`,`8`P!
M@'$]W5_'W[P?ISKG[//!F>O`]CQ9SPEL/P_]1%*X9OM.I+=K;LXYXQLNW!;B
MK!&4FEWXP<2,-)(FZRJ$OA0T&&!;6'A63IS3<F0"B+;"<A)>-DY$16XDW*6N
M=6MCI=:<R0W+QU8W#-A@\16,F;?K'JYTUUR4;T!*JJTF*L]A#7))+<I*!VA0
M4NJ?=#C8N1CE+&U18?<8EN5DH\\5)SS*B?PTI;;GJ.NJ]7%_*Y.Z5-D>@$<)
M7-N%T>F3VSL)#4MHAV+9!>&2=\9;<GJ!:T(OT*%?E2"&S)EV8<G73H?_`']D
MH])7=4E/PU"FWKJXH4AS!ULL<,!"SW'=E$2P#6F'9&'@8%DEDJ&J/(4<86EF
M/MT#ZS659)RH&)]-*8\Z'&'OO^2XRS'R10Q)VJR]VMK5<GZ;5:=;.99=[O'6
MR3IUABJ1Q),5^Q$L.IK-F+(EED"&MS'&A37I^GK_`"L:MGU.)RB"2EN&)7I<
MQ4UH2EQLLL&I134VI9UOU7RW.^1/#QW?G>7!S)SMQ%>N-F:S2^,&ZK<')B'D
M)*R[@ZV$DL.6`=L_(,<ER,=62RVURB2ZFFK;;1YJA,#1A:8]24Q;*&&).;<Z
M7OPMU>LV.NNN!C/QE^'GJG\M#I;^U7P_DPO[<7A]2.F"[?\`6/Z(CN^SQG08
M`P!@#`.('M5^.;W.^4A;?\/5+/7@>QXLY1V^'W91>'*K2[G?0X'D*R%5"I.5
MZ^2LE8@D#.DQK]<H5FL<0M`I:=HD$D3<3'!NQ3&VSY9DAR-C'QY(H5]O<3:4
MTIN:IM:1A===3,E;3U:@0B])K_/M1DS)"0D8]$9J7$D]NJK<1.'..?"EB1CX
M0Y6BZQM\<938JPX:Q4V0'6?N1?0%A1M_QLEX3U>,K;9JA?'KK[:Y>^G\$<,R
M/*AE!.Y,LA<-`<45JV2DZ%:JW7AY/D(J\5.OR@U?(3#V]G4-!U*R2$B*$\,1
M-./0I9!<A%Q7I&Q:XG*<DFXG#5-TDW>LZD\PIU2[\U*'$]<*;-2)<(-SQ%LR
M@K=>?1(O/0[L0XF2@"9D.'CWD69`QZ(QI,8W(VDR6@82!\S(^E!I"$3()8]$
M\6]RSVRG9MUOBEK768^XSK%`*34#)GFN,>CI8/CHJ;BHXFM#R4"-;2IL6:;)
M..NSL8Q#P45$,L#V`%J;68=:*R"JLM,26E[8U6L6M^9NDLTYSG).5EI/$Q@Y
M)J\54;4_%PED3;(HB+@)P.:VPP*2XW880";6%(C#2,LPQ)Q;QSD;((;D"-;*
M%<7OS*EJ':VK+)`]G`_XSW47Y677C]9]>SEA_P!O^T/U(W@^TMD7TLS#\(U3
MK!>/"6<ZPM;%%*/:XGX3E7_3I:'@@18V*J-B,D#C):>/C(H(849M3KKI1K*?
M%KR4[4K>D[S@6DG.]<"X3-X_8PCE>/[S!G$1LM4+(":+)24.ZR]#'^+UI#2+
M,1*@M.H84R00!*$#1Y2!W'?-%DC,*WYPAE*^Z:=4UO.9E76^5.5./(GAZ%*X
M)7)'\8L[!K3\W7YQ\2RM<AHNMRAHN<#%"9(ED2D?R@^<%`M2S0LH`S'[(C7O
M**V]APJ)Q-16VREFDG7-9:6M-DM\^9<3_,'.2P:NS*<0R4E7X^JDN^@3!ME,
M39(802*XXB-N/O%Z(>.K9ZXME$6*ER2:F9:2)4$)N;5MJ8L+G^K/FS.K>R<W
MZ5<JSKK<>9SL1RV[N"'=X,1HF,?L%8%=:@+6&>T;)%:.>CH)0C0^H:S0"88^
M0B9$5E^RQDVV;,OE/M14:!%7%6EPZKKHU3:+H`YUYTCY:>EGN**D,QQ;:+.+
M-Q1$L#%Z`L,:=S)-7B+@FY.865-6!0/(I&KB356I:PKAJ7694H@9QD:41,54
M_4ZU3VXJ7A2F:K'A^-1A=KBOD^7-D5C<<6QAU`QTVL!-?F6%(`9(CDD^KV9!
MM1IZ`]S<5K;+*SC4C&C$O>6VM3^^DU>MZ!&'+M#MU;X^D9><@RHZ.)U4O,%/
M+&4AWX41,#=8'R4M/N+_`-\:O+1TNUXT:\VP4AI_S1*7&$8PC3@BKF?HY/U-
MX/MP[3OMSQG48`P!@#`,8^U7\D.+?E.=8?UX4G!5;X/@S)S!!@#`&`,`8!H<
M\/1^"[I_\JN1_9H[!YTP7[D/C]+)%V8MB^J$T'1$W,U\S4A`R\I"'Z:<8T=$
M'EQIFF7=:TZSHD-UE[S3NM:TXWY?D+UK6E:WXL]AP/:3;;6;YO9EFL)>V=N*
M:])FI)_S2GI!F6>4WYTE?D;=E!QY)S:?%M<@PR8KQD-(<3)*Y`OGB^$F^2K#
MNA+G;$H=VI<HS<3$A&$E>L)Z`H-CN\9"B1KCBV7GK59:S#1I#+#*BSGWV-LI
M<.0+O4<DIR5L/A5*?@GX`G&N<#V..D*XZ<[R<R*OC&2F1H2`<5"V&8NCE@(@
M;-Q9533!WP@I8,)1]BL$8Z"<>J(AYMM^-<=6A;<QD[IS2\+5%LNS9Q)W=*W<
M8US,S8JW8YR-C+/9&414T:`P0F=UHI;<3)[T&ZZ3!2\E%.O-NACDI>BI21C]
M$M-OQQY3*!R5ZM2FM=F?8_O4%"W9;%O96]S\UO9PS@1N]RIV]F!O'.2;PA6_
M/_Z0,[)/.R#C#WEM+.=<+4C9"U.;LE<#QR4G)3!KTE+R!TK($^1L@^2+?.-?
MVVVAEO;Q13CK[OFVFVVD>6M7DMH0A/B2G6M`=0W@5_R=O%OZ6NX'[9'/N>&/
MMQ?%%Q9Z,R^&'Z4:>_"]?E&+%\DGKE^M'M/G;`?S_K]S&$LAVQ<(3!FQ46[5
M`6(-ME/M-8"L#"BH$NPU^6AA9H9#`92R(DB1$&:D64BR,>2IT-;R$CGA/;5I
MLIA3G=-.QIRMDYR.4B0^$N<;%P2?;YRIB,.6*PUJ-@XF3)?<2S`&1UYJ%S:E
M5@(1YN8UXZKZ#J-+=:`<4;IXYLX1AV-,D4*BDG8G/;1J7J"3HKLAQ\*&&/+=
M>Z)+N@E4I2'4@4H'TH2M#<;)E/6#B..WCC)&6.IEL/02Z=L(E7)L^+;XRXA1
MP(SLQ7I//?GG96EJW4E:"KRO9WC2;D1Y>2X!B3)9F-B(/<F7)4LIY,=!T,FF
MQA[8+O%FH?<X`8\%/A)=C5UAC<#"P^ZRY'C?>F*]*EU>;ML>>LYS!1[OSI6K
MSQI9XUO@L$9W8-(J49R%IJKI72RHZ8F)N,"8*K?'-8#9*LT!%2@CD<EV/]-V
M!,FQ+(<2(3#:JAE$OU7MJ_-9.^5?#.#%]^M6(5!CA,#-#MQT;#3,@X_%G-(!
MB+&P`57I4Q3C"4C1TZ-*Q9$,:]M`TFQ)`.A.OMECJ<W-7W^EN[."+^SM-M]4
MX`Y3+M%5L=<%L/"_(TE`$SL))1#$W'*I4DZDZ)>/&';D0]M$C.Z)$4\SMLD=
MSR_(>:VK$33@CDYRABX,W@_W,'\</U(_H/9XCJ,`8`P!@#`&`,`8`P!@#`&`
M,`8`P#B>[J_C[]X/TYUS]GG@S/7@>QXLYX2V'X?^HC'C.IS)>X6Y!C.-;2;8
MI$%XMSU*IF,<&VE!`T@)-0DYYEM[:5[';GP(<ZHF%);=]%`L1;ZV2&6W6',Q
M*:ZN:GX3F";8CM/7#+:FU<F</5GD9U^Y62S2S,PQ7CB)6+/CZ5%5NK/2UEJ]
MEFA8>O!P5N<T,!(BADS%R3-;!2Y!LB'3$I)1-42IXUE.6=>"0ZX%%WS[Q@[%
MN@$<"U5LE$$/#"R$<%1A"'&A8D,)3,ALOCV2TO<G)I.EY2R`Z!OZ/.#@PMPB
M$I<*VQ8M+C;LFO"=-0+8YGY9I'(T8ENI4&-X_0Y=I*>8K<..$Q$P<>[4ZG".
M*"]6A1@"BK$=$N/2K8D6`TVF"BR'/2BSBGDV&%JUSIGMG-O72M[!CKF@75QE
M^'GJG\M#I;^U7P_G/"_MQ>'U(Z8+M_UC^B([OL\9T&`,`8`P#B![5?CF]SOE
M(6W_``]4L]>!['BSE';X?=D*YU,$_P#7^M<93\[+E<I/I17(3X(E'-K,+!;'
MAS[Y6HF?E5K".CB"="QIJHWT)HT5Q6YKTYL@90&B&LQ.)2Q=?#K,"\@*+UYM
MK<C*MWQ5.V[2[C9!XEQUF%'`G(^7DHFGUP:%G9B\29!,FQ&"2\P`[?9`U(UA
M&>C#5#`%(3)QJF+.J7A2;G)7W9G0%:?X=ZT.2[S`'.3R(9-FC89Z2.(B$D1<
M'KDBV5$ZU:!;!0[9&92LP4);P8B(T.370+0*1,%R`(JB2)C1R[-?PGZ.FO,6
ME_IUM(DYCI5$J#=952)IR89D'K0RZ0X8(<H^.C)1EF/F=$1[ST>^C9[\Y54&
MQGF(V633]3(P@RI%YO-0MN<^$NLS\2$'YH$D<#_C/=1?E9=>/UGU[..'_;_M
M#]2-X/M+9%]+,SO"'7>1H7A+N?9:/CX>6T?PYP[79",GAB2HPZ)GJ98X^1&?
M;#,CRD[6.ZKS;K!;+C:])5I7WMZWG`J<+^),L>;Q^Q"VNY7,SKT8^>]69148
M=(R"6S(138A9!EL<O`/I0,>:""ENOV9U9T*V$,'I+&]1DEZSBDI"UU6#A5D^
ME+/U<<R5J#>>QMZK$:Y&C<=-0$FY&18Y5G06UJ4]$J,9PZ)%#->G%*C7KG7J
MT]7BIF"&B)%QJK6&0*G8./C2S=QJ%-VSM>_&]'65\E6PJZ\:,I43=>VZMQQ(
M?&RI`"0>KIT<`53%%Q)K9=G#LL#'LC/D[2ZW,24E&.#@:5LR1BY6+(:TMB3!
M,(DL'6M\Z^$_2GXDI7EUX^I[I*]]P")0L:1XZ>?V3!.[,@]UPQP8^O2`-XKQ
M.T>9E=R#[1D=<;-MPT`[UCJ/T-,-EMA"MFJLH+_&QJQW4L^PZZWEOQDSVE#G
M+T*_24CRO)$_?)\PB:K[HX\99>2P*_'6QJ!=;);`:?M;-TH\,W$RR96,1)R-
M0>;%#E`Q9`9^B2KV4I;$Z/PDY[&6N_[V\2S4]QN8U21,F:[6Y)PPTV0?8-B2
M-CJ)/MLI=W5)]&D1B&DHL$L22VAHA"?,H8&<\XTA6EW$AUYO0A`78/G;DKE'
MC9^`NDZN6BHARINQ0BM.I'C%5Z"KU*%3&B^>4)&LEQ40,5)L`#C,&R[A,BMM
M+K^TZS'"H8(FKGQGUJ-X/MP[3N[SR'48`P!@#`,8^U7\D.+?E.=8?UX4G!5;
MX/@S)S!!@#`&`,`8!H<\/1^"[I_\JN1_9H[!YTP7[D/C]+)%V8MB^J$Y^L]A
MP&`9"<8<<4RV46QR<Q+@A65TZ7AJXJ6LT15(..F`ZPY-P`TS+SQ`,*,FV/(F
M&HYV5DHX?;U6)$9?6^;I&9B;34E2UT;<IYDOS:#(0SB/J7M^,D!^1(P&M1?)
MMX3.$G<@1Q$A8>/(*4Y0(KX\/%00UAMXSL]'5V@0FI,JBQY815FW-Q#%[!DE
MHJF,:.YSQ5F_DU#?)4KGEF<I5LE?GOS>$WZ;YTQCYGX_J=#*KK=1L0]GC99%
MN=#FA24$C6"$B[Y98>LVH5*4-[!9FH,(04B+?;24!+Q$JV4AE]2Q1]PMN<U*
M4O!M)M>'W(0GF@,`ZE/`K_D[>+?TM=P/VR.?<\,?;B^*+BST9E\,/THT]^%Z
M_*,6+Y)/7+]:/:?.V`_G_7[F,)9#MBX0D:@=S[R+YC952IQR@J[+U4+Q-2T>
MQJ'G(>APLBU)`QTB-'3I3HE##3ZTF0S99;1[H;Y[X$3718?IDU>[9UD[)RUY
M[_`YSZV]=4E]Q?=;D&,;0VFI4)W29'CZ7=WN'>2J0E*/8VKB=(2B]E+=++MU
MO5*V67=0X/L&4GI94+J/&<'&&9/6ZIK>I+<MY)UG<7_!<[]@D5RL2#7&=:FQ
M5/$W4.3F%K,?G5T?A4^(L$Y.!/SS1<C(%5:L'W\M^:;>4=)CM2L,&IV2:7(Q
MPP-NNK96Q/-5V+Q+-_>\KU@Y7['0DI=097AJEC$T\1Z^6@"`DMO!4RMM($X_
M2^$BN7$H*%N59>C=`1UC$VOD>K-`2#CRVHZ..<&*&%I+&MHIYW5Y\SG8I+T%
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M#_<P?QP\4=^N>,ZC`&`,`8`P!@#`&`,`8`P!@#`&`,`XI^]$7:(KOGW-?(H'
M*10<US%6I>'DH;BGDBP1$K&*X&X:C?38V8@:M)19K"9"-/"<6,6YYHH,AAS2
M76EIUZ<%'"H)-I.;)'!%%BM*:Q;UI17LQD\Y.?F\YC^9#F#ZD9TRD&DC&2PF
MCZP\QYR<_-YS'\R','U(QE(-)#)831]8>8VY-Z^_OCWF/6M??WO?"'+_`-[_
M`/XC&4@TD,EA-'UAYGCCI0R7CP9:)I7*\I%2@8LC&2<=PURR;'R,>:P@D,X$
MP:ENC%AEC.MD"E#N.,/L.(=:6MM:5;92#20R6$T?6'F>SSDY^;SF/YD.8/J1
MC*0:2&2PFCZP\QYR<_-YS'\R','U(QE(-)#)831]8>9?O#D7:ISL)U7"C^.>
M6]NL]P.HDN4Z9P_RC%@A1,!V5XLG9N3D).4J(<='Q\5#QQTD>::4P,*&*\\Z
MZE"-[S&$CA<#2B3;EQ3-P8..&*;4EBQUFL\$2S,[ML\I1@#`&`,`XBNWT7:(
MCN?W`]*X^Y4>9E.?[)+QAT5Q-R7.1<E%F5^KI&/CI:$JDA&'"O*9=0EX4MU'
MEMK1O>E)WK7IP4<*@DVDYLS%@XXFFE-2O5[O9`/G)S\WG,?S(<P?4C.F4@TD
M9R6$T?6'F/.3GYO.8_F0Y@^I&,I!I(9+":/K#S'G)S\WG,?S(<P?4C&4@TD,
MEA-'UAYCSDY^;SF/YD.8/J1C*0:2&2PFCZP\QYR<_-YS'\R','U(QE(-)#)8
M31]8>8\Y.?F\YC^9#F#ZD8RD&DADL)H^L/,EOKE%VF:[2]36`>.^6$^A]H>"
M9<XF0XBY.AXX"*B.1(,^3D9"4EZF#&@`@A,/$DE&%LLM--J4I>O%G+#1PQ02
M3F\:&S::AP<<+FU))19UHO69/>%4BK*%X0CF"5U1N2).(F>-^$-1<Q7.-+_:
MH<U<=7YP<]IB5K5;EH]3X;SB&R1]DZ>94M.G&T^5KQS`Q0PIS<JH10112Q5.
M4\Z5U[,!O.3GYO.8_F0Y@^I&=LI!I(SDL)H^L/,EVJ\Z\Q4F/A(^KU/EB.3`
M:+;`??Z\<E32M,O3#5B`0L*?X\E8E)-?L'I\U7)<>-8G(<^9E7!91*'V6QXX
ML&ZXRWO[>N9C)831]8>9ZB^Q/8$YF`8,&YS)36-P"H5;O`?(ZB!5U;3:*^X\
M5OC;TH]V*98'&&=D7BW-!C"AK4L44=EN8V"O6>_/:,EA-'U7,5OM5SVU&NKK
M!',1468VF.42!P)>),=6H5J3@5#CF?%H5YEX!!4K%D[&>;(0XLH8E7G6U)0G
M@KUGSO/_`(,EA-'UAS>)5(SLIS3&Q(T5NE<J'*%MT!=&9(W@GFO9Z9BHPDC#
M5%*6Q:L+%MAUUV3>FQFF8UMV3FAHI^POS(<-%`AR>"TE9+P;KKK9;9XC)831
M]5S($\Y.?F\YC^9#F#ZD9O*0:2&2PFCZP\RWK3%VV?A"86(XSYD,DY)^-$"&
MUPKRRSYY]R3#TA&WB*8R.TG^/:G'G6VD)UM2UI3K>]8CC@<$242;:-08..&)
M-J23JYKF?T%,\IH8`P!@#`,8^U7\D.+?E.=8?UX4G!5;X/@S)S!!@#`&`,`8
M!HI\/!$SI_$/560AJS;+*/`]H"9":34JG8[>7%QY77GG:'8/.`K$7+'C@KE)
M*/C_`$QP9(R2S16%NI6^WI6\&THTVY*O!B3BAB2JY*Y?RAO.>+SDY^;SF/YD
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MF73%66#EJY,MQL_VSYPG(4LF&G`P)4-J4AI$"4!]+#840`8,4VG;+S:U>2*L
M435CB?$ZM-23M4,,_*C3MX86*L@WA!9.;:I/(DQ"2G57@2-!F:QQQ>[;$/R,
M-R7V4(E8[UG5Z]+@M'@#S,2^4$\^V2TQ(AO*:\V0VI73`Q0PXTW*<I>IF*"*
M)+%4Y.*=4K5#>S6UYR<_-YS'\R','U(SOE(-)&,EA-'UAYCSDY^;SF/YD.8/
MJ1C*0:2&2PFCZP\R>&>Q/*(=>17P.,N1FV]U)%4=.-Z^<KR1C#6ZE*\=G'1"
MB:)YN-?F..9%NI2[+J#QR&AMR;"!)%UMT?,\'.>-GG:U<_1J8R6$T?6'9>71
M(=P>P)Z7F?@1?!0C(=NNGQX_6?DMP0VO)&NPCD"O1U$,?$AG6.1;DPF-C'P!
M`@IE45%M`0X4='AQ9)?RUVNCI7T5MVTN3PFCZP\]?4D03=[;8[M:YRTD<9<O
M`JES/.L@,\*<Q/-@`L--B1P"7UT9#A'H0`XPNR7$)=)VSM]W6G'%:S2C@2EC
M(F2PFCZP\RU?.3GYO.8_F0Y@^I&7*0:2&2PFCZP\R-N9HNW6#A_E:!AN,.:)
M"8F^-KU$1(#'"'+WGSI*2J\H$"&SY=*0CSI)3S3+?EJ2GRUZ\I6M>/>LQ1P.
M&)*)3<+X&H,'&HX&U)**%NJL36L_H>9Y#0P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8!YRU>0*2OQ^+R!WE>/Q>/Q>2VK?C\7W_'XO%_%XMX!CETP3M'3SJ@C
M>O%M'6K@I.]?Q^+:>+JMKQ>/_7_%@KM>U\3)7!!@#`&`,`8`P!@#`&`,`8`P
M!@$0<Z<ERW$O'JK;7ZS'7"P&WCB7CZ`K\Q92:?#F3O+O+%)XFAR)BRA5FY&Q
M$3%R5V&EI,D*K3IFP07V18]Y]UO6A57U]%,L+X5]S/S"=8_I;\J?8GP*7O<N
M8^%?<S\PG6/Z6_*GV)\"E[W+F/A7W,_,)UC^EORI]B?`I>]RYCX5]S/S"=8_
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M5[@W%N$:,7&HLT&#-(`66ED=)2PTFZ'40D=C3^V]NZ9:TKR$B.C:N+SP!@#`
M,8^U^O%0^.G=?><9[.=3-MJUO?\`!]([(<8A/?>_B5Y8Q3[6]*UO6M.>4GQ+
M2E215;X/@S)S!!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`.;SEODOL+9>S7:^-![0<\4FN47G+X%U*J4FQ5
MF)KT)`#<5<73VA1!3*A)E*<=EK!*F/O/FO+6X3M.O)0A"==\%@X8H6W.<Y6Z
MD9CB<,I2JI^K7V+5]?\`8CWR>TO]]:C]0<Z9&#7O,8[U>O,>O^Q'OD]I?[ZU
M'Z@XR,&O>,=ZO7F?*YSL*XA3:^X_:12%I4A:=W6H^)25:VE6M_\`@#_%O6]Z
MQD8->\8[N77B42K,<U4JLUVFU;MMV>AJQ4H*(K-<AQ;O55#14#`QX\5$1HZG
MZ*Z]M@&/$'%:V\ZX[MMI.W'%K\:MLC!KWAX2)UI75^2N^O\`L1[Y/:7^^M1^
MH.,C!KWC'>KUYCU_V(]\GM+_`'UJ/U!QD8->\8[U>O,_(+D[L?2^0.!9)OM?
MV$L@DOV@ZMTF=KUJLU6DZ]/5;D/L)QM1;9#R@0],!?=&DJW890/:F#!WF5O)
M>:=2MM.\QA,'##`VIS4L^M(W!$XHI-*6+$\^:%M9[T=.6><T,`8`P!@#`&`,
M`X3.+^Z7>6W<:<>6N7[H]A-RUFH]3L$GL::I@XVY"9@0)$W8[&J0K3+'I)+G
MFFM*5IMOR4>5OQ>//5#@H'#"W.;2=MZ,1QM1QI)24425N9M7DMU?L/WQN<RS
M`UWN+V&,D71I`Y6B;=QY$@B1\2`3*RLE)2TO40(F*C(V-#*./DI,X0$,5AQX
M@AM"=[P\%@U6N]O@9QWJ]>96GN8O",-'^KF^SG:^0(7+R4",N&*K$Z#)2\1I
M:Y(*'DX6A'QLTX(TVHAQ<26:UL7R2T.+&6AU3)8._P!1CNY>O,H,Q=>__(,!
MI$QS]VTL%>BYBH7-G;J8C0B9JE<CU4ZH2HCC=`9485"<EBU38S(JB/%,MB#$
ML.-[>9VR6#O]=4^%1CQ7+UV7EY_&3X2;46B85V=[0-!N:1I#;U@H3$DMYR:M
M5=;#3#/5!$PJ17.4FTQB8S0&Y!140\C0WB?$V0R>#G*N]ZN:WH8[N7KS+=&Y
MQ\(@;'$2X?9KMR7$B,I)*E!FH9^.&'5%HG$D$&M<=+&995".-S"77'4M[BUH
MD-*]$4E[;)8/IC'>KUYEH_=8]U/?1[%__P"_IOU&RY&#7O&.]7KS,_/!8]E.
MS=[[R0?'/)_8GE3E.BS/7SFBT$UB]'UXZ.:L-5N'"0,'+B[BZY$%,EAAVF=&
M^^0MEQLY?EM;4AM2>6%@A@Q99YS\)<S<+QDYYFO6?(Z?<XFA@''SVK[8=O`>
MW':BLUGM3S52ZG2^;)JJ52J564JP4'!P0%=K!3`0;)E3D"MZ](.*>6X^6\M2
MWE?PM)TE.O1@\'#%#-SG-YS,<3A:22[*>?/XD+@=H^\,H<'&1W<;LD=(2)0X
M(`0LU4'RC#2WD#BBC,-T53CQ!#[B&66D)4MQQ:4)UM6]:S>1@U[S&.]7KS+Y
MF^6?"+P)A817:OLK(K`9`>.+J]HX]ND2&F4DBH8!LF<I]2G(9@DF8",B$B.'
MI*3*BD1KC*#67&$Q8/!NM?%M<9#'>KKQ/&GDOPCEE696_NANWQZS?288^-6Q
M#M;4LB`=G"(TGSG'C/F2'JWMR6T.M;;[D4K1S2=CJ0[MDL'?\PQXKEN_)]T>
MU^$1&KL1`U#L=V<B:[6XZIUZ&CS;!1X-F/B#F`HFHM#ZL-2"?<C"!MAL!2.U
M.B+8UI]TOS:7'=,G@]?@V^`RD3NKU>>..YQ\(C+J4B)[-=NI12$)<6F.:AC5
M);6VV\AQ6AN.G=I0IEUIU*MZTE3;C:];VE:=[9+!W_,,=ZO7F6N5VG[O`DDA
M&]R.R09@;[PI8A4S41R121W%-/C$L.T1#K#[#J%M/,NH2XVXE2%I2I.]:N1@
MU[QCO5Z\R2N`NV_<179'K'$3?;'FZUUVU]C>%Z;9ZS996J&0D]6K5?(:$G(N
M08%J().V3(\Q]G:F"V'6]JTM#FE:UF,)@X889J<YK.;@B<3::79;SYO$ZC.V
M'X/^/_E.=1OVFN*L\YM6^#X,R<P08`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P#F;N/XT/=OY3A/ZD^%<]6`[
M#^)\$<\);#\/_414XI\063CBI`1)X`QX;YH*U.(2:(R0VX2(I;2VW4))92MG
M:FW&W$Z7O:%H5K2M=G8Y6YCF9'3#?7!W8T=%G&LL)\S&G32![`T4\F)LM;#5
M/!H+CY!#&[-6S;'*J$=!VN/(AF1U,LN%LBD<UE,ZUI4SITMS.6=6ZBN6;K7X
MW9BTC8KA*..JK\79Y>;8^'(K5E&D0SF16Z8W-':(?\D>($*6ZJ%9BW'-B$K)
M<?-/:'%UL9I6DXVHIJ3Q:2OE2NW@A2>J?I^=I=TL-UJ-VAX.3EHY`(K1+8@+
M$XWN6>D3)*7*CSGCHV14VY!H(C*J,Z(H5LL04B44^Z_K3CA92[U6RFVV5]!3
MKK-9Z[:<N&Z]M*\G5ID7-2!4DT5IE$V\F&#;M%=7%O1+[]6$4\^Y7EV%DC4B
MP4EW0S6]Z"??8>6GA+K)4I6D5M;\6QRVR%):_P`K[3O()GV(@6<F!X`QV0@V
M),UJ'.?0MM\N,00XD$AY#C`JTNNC:;6YI0P^]+VK_<6__$UM3DIJ3SK60C:S
M_P`JNO'RRNDO[6G#>8PO[<7A]2.F"[?]8_HB.I+/&=!@#`&`,`8`P!@'`MU-
MX?M?(766L7.$V*B$XYXGXI<L3KH5CD'V_7-!DI4)26:[`SGH8>A*?,J,F)I<
M3`QRTBI/E1O2VM[]L+2A@6=PKT2YHY83]S"?'%Q9DY5.'^P/'IK]H`H2M.M-
MV2K3<#.ZB"-E1$E7(YJ>$FX$DYDUN%E(&XQ.P976A?/JF(HZ`/T8N/*2<4#I
M.YS4[:Y]6>?B8)&"L7:9^"U%#U"+K5==,EH'1`U/BX,`=F:3R,K5?"$B&$[;
MCH=[E.^+!9B(U3D>]:!TRC[K#4"@3,H+9MV6N>C?L4_P.NMY<>N0^YC#VY%5
M%4LR"9+E7R7JL*0<VF9MNN07!=>66LI+T=)\3S"EUF.2TN$"KMLW(1`YK4N:
MA+!NUVZY9I3S7VYV6;ZW_;CK+8D.9^SM:DK>;+KAX69XO<J,E-A2,>"8;&>7
M=;!-UE@?;KLDF02'-\BR/E()+(<U'J&'+=>4%M.[BP.5K44Y76*=SK)"M=57
MX4^Y[EV/MXL%OT"AN#P[\)`CQ@$-70R!%0I<-6:!!!PS#1AA4@I(''L7$K99
M6=),F0TJN4\18\BMJ2P=^USVMSW\B=?;[&/TSUZY<A4&.NU,B0'CHR*E9,F&
M+"E1XX67KC-K'42X(0O6T,PI#1!1;&GX]I;C3*3'''Q].[QELV@RO\%/#R=?
M\);782:"?C9:*ZT=D`9$`I'FR`RQ[[US;>'>1X]^2XVO6TK3X]^+>LXX>N)_
M;['7!V1;8>$1UGYYS8P#B#[6_CH=S_E'6?\`PM3<]>!['BSGA>TOAAX%P,<"
M\R5%?']QK8!!DS*0L3R?6=P<=/*)C(D0.#M`M@5)RL"#5S6X0:6BY";]3S,T
MFO-H)>GT`#`FN,[QH6G.R;A<_%2.?7WX$SKFNU-'EGQ8?CNJ0I!$E%$!LU&K
M5=8;4N=)`111@#D62_J2*G9&]@5B9-.<E&V%2@$#'/1;<;%L`9_1G;;<[6ZR
M7)3D#]8ZR]N$1JX+=2%-4.54C5P\I!-$E-!V"G2$!'.N+<(U&0;<S`TA<-)D
M/%1-H));'B!W_P#3"0]I0<?&7JZQ3N'7V/V(Y+[G*(&M!=8)0H&)CKGLHV`#
M2PP!29F$OCDH2P87Y,<MR8OD'.&Q"6PO256R/:CXMD8\0?$L'536=;TU+<GL
MD*JI_A,IVA)X3KO(0(];>I%AK\N`TF(@C&98B*"IO)O'<U+2!;\>Q#%G,U>E
MW4J18BI@N2C6`09PJ*!&=#<5)08V+6<^36NZJOM'7$@"Z<5<[6J=NO(-GHLL
MB1F)B\6^T$Z'"";;.$F;:7;WVP/2=.M-A2-6NZ]#,M+WL>IV9T1+PM=EG0]J
M*%2AG<EN4N*WH%C\%?C.]1/E:==?UI5S,8;L>*.F"[3^&+@=@W;#\'_'_P`I
MSJ-^TUQ5GD.JM\'P9DY@@P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@',W<?QH>[?RG"?U)\*YZL!V'\3X(YX
M2V'X?^HBYJB=$QEG@9">$2=#!2@A$F&H9DQ)(33J5/L[%(VE@C2T:WK;3N](
M7_$K?BWG6*>*\6V5#FM=A,(%@X&2AP<RH'^86Z$M2]*EE$.>A"V9M&_2_A"Z
M0&@TZ0K[TP@36FGX^*(;"&8.VRZYAK"34FL_VU+-.6LM.O'\;CRL3_!+9!&E
MTB1>#\X+Z)LH^?69YGRI)TO12P[.$.M[QJC!4+9'9;4.V0YIMLA6G<2PEZ?@
MM6K;U(GAUULLL/6%/\"`Z#>8J\TX8/".M/N2B7Y88J4<!986\J/W,"#,EID=
MEOAOJ]+C&8M0^GHIV61YUM+"-2;5OI/9G6J>Q`]GPCZ^[<*<=JTL[N0-F-EJ
M;#?&<9BR;='203<<.W8-``2@M:$.B@R@V1PVW)!OTP1]"'E:2PEZL6^4JT<U
M.MF:T$)VQVO$V"0?J8)$?7U[%]!$(>?(4TI(8Z#=H>*6X3L=V024Z(DEQ9#8
MKC+3ZU.H7O>U.5;0139_Y5=>/EE=)?VM.&\QA?VXO#ZD=,%V_P"L?T1'4EGC
M.@P!@#`&`,`8`P#^?GUEOUHJO7CCNOPY<?J%M'%_%A$W&RE>KMA%*+AZ0L**
M/9;L$5*:CY&/$L4X.)(QNQ#F&Y,I+9"?+^][84G#!/-"I;ER.6$_<PGQQ?4S
M(27Y]Y?GF9%B6NQYFI58JSWE!1#9CWH3L2Z&V@]F.:.'8&U`5]A@<8AEAH*O
M0`"&]`PD4.)5#"K%QZSLP2+0^6N<>1;)*UUGDK4"Q+PL[9K/))@89EIN`XY@
MI3D"3\P#"0:"GML"UM\T.%CT#"2,PP"LW;.F]G"QPPI3E.R5<[<L[U@E>UT?
MMDVBQR";F',0L5'&R2S%R-7KQT[%;X^ODP;.:KD@V%*2$E,4V^WQR0EMCG&V
MDNP2,@W+3[K@DMF4X**6JR:552>II;)9D6O6S?8_$KMDXA[)@V'E2>L'(5`D
MGFP+97ILV3^+V3C[=6.(HCD4I&H"KRHC@ZGX^4X9F8,:(AH5-@@SQT2A0X\:
MA^1444+223S//1Q-9_[3U[1)Y^I?Y)&*A_8_FZ3,"D2^0I?TZ.0A()0H\6`^
M*I!<E(>?:<`CQMI+7(3$H>Z;]\Q\XX@QY]9*]N9O$ANMZ^Q#]_NEN;-#.A)N
MNVX]Y]MY<:U7:HS%^0W&0\+H!$8U!(`:AW(BOP\8_!-#HAB006AB`'6E.I<8
MD-W'K/\`<&5/@KI^7M/A-(*R3YKDE-SG6WLG)RI[J&6W##S+_P!='B2%MCMM
M,(4ZZM2MH::;;3X_$A"4ZUK7'#TQ$N]]CK@[(ML/"(ZRL\YL8!Q!]K?QT.Y_
MRCK/_A:FYZ\#V/%G/"]I?##P*>%SIRC&ZC=@6(4,F*KK%1%DAZS4VIERKC@Q
M\2BOR,XB"U,2\.N&C!(,B/ECC1BX'1$&4V]$FFAD;Q5=KSVVSWN>VIS*Y5^9
M.:INY5\>&N6T6.8]2TF*(+`K[8B$EV"OFQOG]/Q2PV7VK#"P<RY.+8W*-R8.
MI99JC%D/NL6%*RR;M<\^O6QU<9-FUOM(TX$NI<G1=BK457P0DG2PE<I\`T-2
MT\O2"(W<'<8T,*:]0!5/DJWI>]$..1YI$G),AVX<8`+FG!GADWM=N+=95I?@
MLGUX[+G_`*?37&O;")*D"7N2H,(^,J+NY(R9LE,9>AS)57&7&LI79"7GGVQX
M::7"P=7'"G7SQ]RP]2<1"23\D:CUC9P79W9.Q8T4Z;736+?#\(QEE^3N6>+S
MY+BL.W#^KN.YBS4MM(T#7W6#@`INUCR<4:0=#.2$Y6#SK%9B]UVP/'Q&]S9F
MUQ^EN;TG>+"ZRJY//JEN)/T/UB^S'*03-X3)'1MH*OD'.P4A(6(-\@F*195<
MA+F9.#9CC(R.&FBG.5+ZI$B:!(+$19)(8-#`91`[K$AIFDTZ:I2^E;BS?76M
M[V6+P5^,[U$^5IUU_6E7,QANQXHW@NT_ABX'8-VP_!_Q_P#*<ZC?M-<59Y#J
MK?!\&9.8(,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8!S-W'\:'NW\IPG]2?"N>K`=A_$^".>$MA^'_J(F.F\
MCP5=K3->EJB-/H]96DLHATE\8AP*PATH7U:,^RZE([3B:P8@UYT8EY*#F5@J
M'=:>V]N*%MS3E9Z3KZTV5H8\.NOQ(N\+EVA@/"[8HGDZCCI*1$)0+"-;47(Q
M])"?=1%H%W&13A6ZR:IQV-0EP31:-AJ2Z0<XN."*]5E2N9Q.VW/GY$/F-Y"X
MRE90=$W4`8YG:GWG)PX1F4>;*==NSS[IJ6XV3*E$D#2M1CAF"QC!P%P"RQVA
MW7UO[.&/,_#PAL\4]_@7KK59]BAG7Z@HGZS(0M1<C!(9^U,R?H+$>*Y)1TPR
MX)%KTA7GG'C@FW7B%N&%:81IUH$49A`RB2F+%)IN<Y2MI*TA^(%\J$4NK/`C
M6AHRN5NPU1N0:W%C'#CS4I<)46R1S[3JECST8Y9AV6FO&A"F0G?,2`;[C#X]
M<+<[*M.LY6)8K5U/P6[5^:EI6&^2$PF6`;V\J(/>+4RF3<:)DM:)FFIE1A9`
MC((;DH0L=AHXD8`9DG25K4QYY6W<JA2E?UZ5VV5(0A9_Y5=>/EE=)?VM.&\S
MA?VXO#ZD=,%V_P"L?T1'4EGC.@P!@#`&`,`8`P#^>#P1^`_AO]%?'W^$HC/=
M!V(?AAX(Y83]S"?'%]3)73K:MZ3KQ>-6]:UX]ZUKQ[WXOO[WO6M:_P"'>]ZU
MK^/>\T8-@,;TZM<<2J0X]O,\-;8"V%1(=N:%'K%2B)".Y4L_%:@=6T>R:L3-
MPT17$VCU'`04M,#PU@@6O0W&C-RB>6.LZ4I3E;22>R593;2FGJ1954GL?CT]
MQ2I+@/G%Y<V78^?X9!:1;M)SVY.W<L21;P-<<YFBIDLYT:HGZ,7+Q_#/)3C8
MJW73G(YL<*7&"-E]1^7&AI^BY60TGBRS]Y>MPE+.NI\O4KLUU=[,R,B-NV<R
MAO'2,K9:JDR?NO),BXY(Q]_K'">X]3RJ\:2X)9I7ED<./)\G<>[6Y.PKE7@6
M''Q2YE(,RS)T2N<7HEOEM"3?.^J7W,;;GP1+T6G.6>6L$$<^\!0+'%!PKQ10
MYM0Y`U;TQ,N^26(`X&:2NM#%A0ZQUFNQ4@X<:@#8R&2=J*;WKQ5J\"$#YH&P
M?P1_Y1FF_)>[%?XZZY9Y\/\`P_M]CK@[(ML/"(ZX<\YL8!Q!]K?QT.Y_RCK/
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MUU5&*N;!(W!7XSO43Y6G77]:5<SEANQXHZ8+M/X8N!V#=L/P?\?_`"G.HW[3
M7%6>0ZJWP?!F3F"#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#
M`&`,`8`P!@#`&`,`8`P!@#`,>I_MSU1JDY+UBT]G>O5:LD!(%1,[7I_FGC>&
MG(25!=4P;&2\3(V48^-D`WDJ9*",'9)'=2IMUM"];U@LG<]QH6Y3C'2.?.PU
M^XS[0^##L5&Y=Y4UR+7W[UWL51;9'CO<?T*HD1DQ`0'!W(T.T\R=42B62`K6
M<A\4MC:VQWDN-:ZP87$4L6=9SGJ6K42*#&EVE)2[,\[=ZO+4\SR![P/@EO\`
MI'9O[*N;R_<^;\&<EKB\G_T/,\@>\#X);_I'9O[*N,OW/F_`R6N+R?\`T?F\
MGD!IIUWX_?!,N>:;6YYMKPC<VMUSR$[5Y#:?N5M>4XKQ>2A/CUXU;UKQ_?QE
M^Y\W_P`C):XO)_\`1;M*G^0;G3:E<-\Q^"WJV[768&R;K%M\(9-Q%JKFYV*%
ME-P-FB=]6G]Q=@B-E>KYJ.\\]Z%)#DC>=<\UY>V7[GS?@/`ZXO)_]%S>9Y`]
MX'P2W_2.S?V5<9?N?-^!DM<7D_\`H>9Y`]X'P2W_`$CLW]E7&7[GS?@9+7%Y
M/_H_6*K<S.7GA\JZ]G?!:5RHTGGK@/E:S2=7[\%6^R>H^(>8Z3R?)@05=ENO
MU)C)*6EPZF[%`-R%JA0VB3&R"#$M-*0O,>%QH7#BRG*LYV-.XU#!BN?ZG2)2
MQ9=J%PVS=YOX^[8Z9^]OUC^?OBOZUYQ+)W/<R?:M:ZO>:]$6ZE62`N%4L`34
ME`V>K3$=8*]-QSWC\R?$34207&R03OBWYHH,EYASQ;\ES?BW@A7\`8`P!@#`
M&`<BM&\"3X0FDTFGTQ$GTUDT5*KU^LIDE<Y<W!*D$P,2)%I.4%KJD9H11>A=
M/[%T65IC;GFM$/>1YQ7>'#226+8DNU<MA(H(8HHHL:)8S;EB)RFYRGCJ>Y%U
M>QP\(7_Z7IG\_G-WV2<N7[GS?@F3@TXO(O>>^0\$+X1V5-*DI*4Z>G2!I*C3
M#2NP?.3Q)1CF_&X60\OJ7M;Q3JO&MTAS:GG7%*<<6I:E*VR_<^;_`.1DX-.+
MR+WGBWX'+PAN_'XW^FN_'X_'X^?N;_O^/Q^/Q_\`V2O]?E*\?_#Y6_\`AWC+
M]SYOP,G!IQ>1>\_W?@=/"';\7C(Z;;\G[VO'S]SA][^%M?WO_LE?>_A[VO[W
M_P![>U?Q[\>,OW/F_`R<&G%Y%[RX);P3_A,YYM]F9LG4B39*]0^D,F=B>=7V
MG=5:*)@ZVE3:^IFT>1`PYA<9$HTG2``B7QQTMMNK2J99*R!*W/?;_'/G&3AT
MXO(O_P!"W/8X>$+_`/2],_G\YN^R3ER_<^;\#)P:<7D7O,S/!Z^#4[6=;NV$
M;SKS7(]>T5&'X9Y.X\&CN+>1^1[K8S)N^67BV8#)?$MG"/&<8'%`B4(]!+[<
MN86L@T-#0.V]//-\\)A,>5)2GGG;+4KC2AAA32;<VK84K)]Z*\WZ9S`P#F>[
M&>"6[J\@=D>P/*?',EU<,I/*_*,E?:\FZ\M\L5:TA!24+`QVP9F&@NNMVB1R
MF7XIY6E@V20:=9<:5Y3:_*;3U@PN(I8LZVSE]F(H88G-Q1*B4E"G8K\9<"(/
M8X>$+_\`2],_G\YN^R3F\OW/F_!G)P:<7D7O/>5X(3PCAK((Y<ET\(9C0?5@
M#3W8+G%:!([TTJ2T$SK?4O\`@#:/-++2SK^`EY]Q>M:WO[S+]SYOP,G!IQ>1
M>\\6_`Y^$-WOQ[(Z:[WXM:\>^?N<-[\6DZ1K7CWU*_BTC6D:U_%I.M)U][7B
MQE^Y\WX&3@TXO(O>?[['3PAWBVGTCIMY._O[U\?W.'BWO_AWK[DKQ8R_<^;\
M#)P:<7D7O+@UX*#PF>HD6!39>I*84$25!#BT=B>=4`C"3I8ATVRR.GJ9IM&I
M<D`%4FI*=+.;#$8)4X..RTB996XE:9[K/XYADX=.+R+_`/0MSV.'A"__`$O3
M/Y_.;OLDY<OW/F_`R<&G%Y%[R1.&/!#]WZKSIP-?;U)=50:=QES9QCR;9%U+
ME_ERRV4B(H=MC+(8#"0TQUNJ$69)'-`*%&2?8XH9#CNG'2=)3M*LQX7'AEBR
MUSG]D:AAAA<U%$Z-2<*5JOQWP9O@[8?@_P"/_E.=1OVFN*LXE5O@^#,G,$&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!H
M^[V<Q]C8ON&_Q=QEV.Y(X7HT'UJXFOVX3C^M\)R>I:V7/E'GZNS,K*'\H\2<
MCR7C]3T"MB""1ID:"QZ.0\H9T@EQW.F"@4<42;<DDZ2SMZF2*+%2HG-NV>:5
MS5YC3\97<+W\NQ_]SNH?V6\[9""^+>N1C*/1A^;W#XRNX7OY=C_[G=0_LMXR
M$%\6]<AE'HP_-[A\97<+W\NQ_P#<[J']EO&0@OBWKD,H]&'YO<6U59KL_28\
M^+J_>#L;%@2=EMMP.'36.J!6G['>;-*W&U26W#NLA3K:I:R3<I)J&:<0&(HK
M8P`XH;3`[3(07Q;UR&4>C#\WN+E^,KN%[^78_P#N=U#^RWC(07Q;UR&4>C#\
MWN'QE=PO?R['_P!SNH?V6\9""^+>N0RCT8?F]Q87*O.'=.E<7\D7*([W]A7)
M:I4&X6:+;.I74=X)<C`UZ1E0D%LM=81W715$B-)(;;?9<6UM:4.MJWI>H\#"
MDW.*R]<BPQSBA3AADVE_+._B.F3CR3.FZ!1YF4?V5)2]/K,G(E;;::V2<?"A
M%%O[:80TPWMXAUQS;;+;;2/*\EM"$:TG7F-EX8!H([4\U=GG.XO.U!HO:/E7
MB2A\?Q'$**]4J'5^`SH]!%IHZ)V;/+/Y(X6Y`L))1D@O:M)]=-AL-I2V.(UK
MRMJ[8/!J--MNCS2Y,D46*H9).<VVYWRS-$/_`!E=PO?R['_W.ZA_9;SID(+X
MMZY&,H]&'YO</C*[A>_EV/\`[G=0_LMXR$%\6]<AE'HP_-[A\97<+W\NQ_\`
M<[J']EO&0@OBWKD,H]&'YO<6U4)KL_0J\!5*EW@[&Q%?BU&K!CT5?J@6EA4C
M(%2IN]$2'60LMSSQYI1&].D+TC;NVVM(:0VVED(+XMZY#*M_QA^;W%R_&5W"
M]_+L?_<[J']EO&0@OBWKD,H]&'YO</C*[A>_EV/_`+G=0_LMXR$%\6]<AE'H
MP_-[BQ^1N?.Y_'U1D+E']X>>9<J"-@"$Q4[2^J;L/)-/6&*#*!DD176R)D]B
M%"DO,.[`E`#$)7Y8Y;#J4N:S%@H886TXII7KD:@CQHDG##)T_E[CJ/SSFA@#
M`&`,`8`P!@#`&`,`8`P!@#`&`,`L_D.3.A*!>)F+?V+)1%/LTG'%:;:=V,<!
M"FE"/Z:?0ZPYMDAIMS3;S;C2_)\EQ"T;VG8'%C1O"`>$2L=*I]A/[R\P(.GJ
MM7YDU`W'/55L=)<I$B'$I';7UU=6AE+SZ]-(6ZXI+>DI4XO>MJWZ5@86DYQ6
M7KD8BCE%$E##)-K^69_$73]W/X0?WY^9_F\ZI?9QRY""^+>N1,H]&'YO</NY
M_"#^_/S/\WG5+[..,A!?%O7(91Z,/S>XMJU=M^\EV``B[1W5YEE`8NRU.X`L
M*HO5\73%CHUEB[?5I+3@/7H5UQ458X6,DDC.K6&6H70QXY0;KX[K(07Q;UR&
M4>C#\WN+E^[G\(/[\_,_S>=4OLXXR$%\6]<AE'HP_-[A]W/X0?WY^9_F\ZI?
M9QQD(+XMZY#*/1A^;W#[N?P@_OS\S_-YU2^SCC(07Q;UR&4>C#\WN-C/@H>U
M_:[EKM_/\8\V=B+KS'1W.MO(5\$A+=4N&H-,7:ZUR?PG7XV5!/XUXOH4FO>H
MBYSXCXD@8<"[HEI[0R"!VG4\<)`H&DIU6?\`Q&X8L9.B4FK)YYWMW'1YG,HP
M!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`T$]Y?R@=
MC^1SUZ_77VRSM@.W'\,/%F,)9#MBX0D<U>J35QD514".T4<EL=WS+I+`WE()
MDX^*2I*R%MHWILB2'=(WY6M,!H)+=VE@=U:?2VDILY%>F>++W!:=]-@#%J&U
M*J-2$A1WJ]$-N/\`3W#EBZ<:&0TF5CG=;6YXU-&#.>+27VMKF/"\]WK9P>X'
ME`XWO$C)GPH]:EDS$;&L2Q,40$0Q(^@$3$;!)(:#<;20\EN1E!VR/-MJV,VV
M8\_YM`1.VCBA23;HZ3\&_L$F[#]/BQOGE&)U697?HGEZ0I(CRD2*VY^+K*FH
MA>D>3*N[EYF.80V%MY:VG_2$ZVPE2],:&]=3?A8[0?4EQ??(M+JWZS*O(&#:
M.-6$&08V`.\"Y)(V:X.TML9:06"B'4+5I32`C=NZ1Z(1YLHX7GV9IUEQIP'6
M^J*3)TBXPPQ1DO5YZ,%"VUHL@^+,%9'V^^H9K3KC[*$H\LA.V->/?WGO$WOQ
M+4G6[-7H&/'83\`?.'Z(.2_\&36'8]CX&H.W#\4/%'4!Q1^"WC7^@%._P['9
MX#L7_@'.EV2_'P[6_P#-W`'ZKF<].`LBVK@8PED&Q\2S-?\`Y?\`XYW.1*TC
MPKR)%#N%%PJ?--NR3&O1BQS7728IZ<;)&88$6^\Z^MJO21PR$H_TF-T-(M;4
M&8.\YC*0N5;9:K95KMEM+)]>/)EEGU"TQ0Y1<E7I@`0(U$<845'E,C#'.,L$
M(%>?6WIM#RF"A7M(VKQ^;*&5_$0SY>IIY[:]=9G<0O*Q\+<D5=7DR5;)>7Y^
M:9VW%K;EG$M0'JS4@>I$>I]28SRY@!H8]6M#%O.[9'6MU&T9%'"['2E<SG_E
M5]BR92W.*^0&2SPGJM*MD1KSXA"?1]N(6<.K:-@"/,^<9-.=6AU`HPCCSABV
M"$BZ=VP[Y#&AO(66?'FQ9;P$B*^$:.I*7Q26U-/-[6A+B/*0O6M^);:T.-J_
M\5;:T+1O:%)WO5M4"#.PGX(;9_[==_Q5!YC"=B+8;P?;AVG6/GB.HP!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`6!RO\`@MY*_H!<?\.R.`<"_%'X+>-?Z`4[_#L=
MGO5BV+@<8^W%\47%FPTBG=8YHX!EVY5VIU]FO[?CY"MRE[)MLFE6J6P_+<@!
MVB&GZ\S98I)5PD6J?2TP#-F(BB(H8F"&=KLO.8G'6D]LI*VR5965K+/GEGTW
M]=;#\@./>IBDG$E<HV?7JT*)?:"?.%;9ER6)61U/:20+2W3F$2$8U%BPD:(`
M80+(&N&RDLB*:*?CDX[O3\[?3Q%POTGIU#OR+S-XD+`HR+M3@\?('GJC(B2%
MMM=:@!XN1A!8J1,VF"(L0+KTT,H:9:C6K"&D)L\4-I/"775HLV=/[;!3KKKA
M2'N-NI[D[('/\MGLUTJTR(L?$P3Q`Y8<)J]W6(9)2],UJ;(:"9J(5,GPE&/2
M1I;<D<R2[LG2=CIQRLKKV)WJQS3V#KJTH%*JW6Q?(A\;-VE#M%'7PW8!Y&S2
M4XR0Y#NE5>2YFK#9E8B8W9LP$`;8HF+TB,"?+]6;]4/ZDU#.$FXY65_59)UE
M^E]<"J4ZV4_)9_,0'#@],XD+XV?A6[.3!*;Y`CXHVVRI"I!FOT]:9>3D+$4V
M$.5(3[UL95!Q%?@6X=P)YE"Y^(7"3QVEC3BG9F=-=T\TJS\$YI0RO\#5^/Y+
M_(^YA_71UISAA[8=CXG7!V1;8>$1U:YP-C`&`,`8`P!@#`&`,`8`P!@#`&`,
M`8`P!@#`&`,`8`P!@#`&`,`8`P#1WVVI9=P\(#R&Z/)1L8Q7.D'7J;.>D=F>
M)P??/?:6-2R,D(0Q:R%/G-*\E:6V_-I<WYSRM)0KI@7***DVU"E\S^QC"60[
M8O\`DM&"XWY<KDR&35QF69&5;D8(`H::KB%DCS8%GB2VE#21S;H;9PL%:!0R
MC1A=J)BWW8U[1C(CN>AQ0-5L571TE)YKIK><U/-LWS+@)*[`!(+F#CV!TG0Y
MSAL@;(41*]`2==H@90K[Y#_G`I.0KK=&0Q&*VQ,EL+'=$%<??D%N)8-T6;,L
M;,XKK9/&OX";WTGNSGEE!>7'[?9MWF=%K,R/5@"[-*R@P1#28%F[P.@$[9JL
M7++>(7=]Q'G_`$(11GI+9*9!?HR36UOTR6*IUHDY5Q7?+^,_]%>KI\[CW,/<
M_/M;,$-#=&\RR:\;MRC!*+&3.UTB)5,-2"`Y!S9TE\'6ZY&V`9!A\:^W&Q(+
MD00:(N?^?K*7ZJ.3G*5+YM9ZMSJ*]>'XEN1].!]A"-ML_P"C*;<?&#&;",H(
MXSOEQ:J:GU<N.(8:V"%'W[U(8;'.:"AGYIA)9(1XP[@K_P`Z^O:OQO5J>N6<
M5V]2ZN*Q86>:+A%2KCXM4K=8GXN.4_'0Q%<6%."LRA,TPY'N"$RQSSJ9,MR0
M(2*6QO3;Z'WD+2Z\XZ_0FK6X<[G-4EJG35J<A-UUV]59AUV3XFOT9UZ[`EFP
MK#+$3PQR@2<I,Y7GE-H&I]S:,:9:8E772RP'*].(D@0T/F1RHLQ)S`^VM^/3
MCA::G5IYG=^5O+`GC0_%#Q_#.CKBC\%O&O\`0"G?X=CL\1V+_P``YTNR7X^'
M:W_F[@#]5S.>G`61;5P,82R#8^)9F=SD9+,_'1.P$=(CVIB47(LA27J-P-M/
MH@!5=D**'(RDJ?!L5,-+M:@7PG$FSB'U,+;,<2Y*OF+:Y?\`FG*5]<]'-Y\:
MUYD[K"S?VU62V6%-M.N>;%%$AV1S4G%R);,J4EI^FK0DT.%#=2TMZ,<TZ`0Q
M#1<<03#Z<&<2V@(DL+SY;+C]633FK?[9VW]V3KKKB5":LW/@<C-`V6R-BG`U
M>R2);3VJO)LOQ2)YF+G`QW8<21!0:Q/0FQM,[<8?BRXTAMI8>]J2]$L'1I9X
M5G6:ELG8_$LW??KM_P`^Y_C4]RH8\9$2-X@(N,!B:C=#SB8`-T)3EU$BY*'0
M^Q$5,Z2.D'7+IO4GI03X^W=R#BWBM(%](2AH\5OM)*>:%R>>7\:>"O&INV3S
M\M9!%DGIFSS9TW/F[D9<Q;*3#=LLC[?V(.R"SOS([`S2?)&&9;\>F&U*\CRW
M=;=4M6^B22DE+\U?J0Q\["?@AMG_`+==_P`50>9PG8BV&\'VX=IUCYXCJ,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@%@<K_@MY*_H!<?\.R.`<#_``XIE'''%:R$
M^4.BD4=3Z=I\KRF4P,7MU/D__>\:-*UY/^O^+/>K%L7`XQ]N+XHN+-B]JL_3
M>P.6,R)J]AKBQU7)ZNA(2Z]HE1UBY-DZ^XRN+BH4-+J'2>*QAHJ=%(C(:AM7
M*(V>?9!8`E>)82S9-^5._O5OE)6SE-?4]6SU*N?:>F#XTL.S!R#(LU:%2:]B
M0)S,X+#O\BU`P^+;-?;>$@Q&ZD):6Z^S5O1'AXMR-!DWW)(R6'>DL)2JFE+5
M8ZRSN=_`9]7V]3S1,'T]<J\9<)1>QVB9P`.0K;MHFDS0IY=;(>DVF8:-+E+'
MJ@Q$YL/0DB]&JFSD,R0BK"XHJ-<:LX[%PU[IRN;D0BL*1X+>X]NE18VR-9RK
M7?W:?;YNNOME,59<]PP93E&D#O29(1*H&M<E#J`:(/<#(G7A$OE;E?.+OZII
MZE1.D_U3XJ6RL@()W@XJOU7<M.0\1,+XFM-0GQB:G837@.0"K3<96"NA)4?&
M$C'-,P1=<B4%!.D28RFFVMB:'$4[I^JMO:FJKLR5+1=Z];"W>49OC<^I4^-H
M[\+YV+!KX90`M#]43[4D!5PH^ZS,Y>7'F#+&';+DR=8JW%FC2KL+#&L`)?K/
MH2X4VJ<W/7GUT4LTE37;4&7?@:OQ_)?Y'W,/ZZ.M.<,/;#L?$ZX.R+;#PB.K
M7.!L8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`:$N
M[YA8_?RWCCDOLCR'3/KLP<RTZM#1C#/.G:PQIDEM*M)?;;*'8)0AS2DI?9:=
M3K2T)WKM@.W%\,/&(QA+(=L7"$CAF^789U#X]ML3+S:6TH=:F#T+0EI<LZUI
M*DOZWKS3L]-.M>+_`,D[*GN(\E93RE^C%AT5NV<EMD<IGRF\W-&WMHM=A1L@
M=T1_:)<Y/G1G@XJ/=8<\3^O*:6#!PHBD;\>O1XF.:_\`$#'TW<6&Y;EK?%O>
MP?*+M<&YC=A1:)]$[MC8JI=,L;J14/M7EJ969I[SZVU.?[LM*E[TM_\`TA7C
M>WY>,52E)2NE0'Z-7NXM)";W99H@<!QMP8,N1+*"UYN3`F=-K%?=6RZRJ4BX
MXU;3B%(60$,XK6U,M[2Q8;EU-<&]X/05R/?3'27G[A8MJ+,9/>0F7.0ULH=0
MRQW4M)?TA&V%!`[:TA.M(4"$K6O*$'VW,6&Y7`\VKU=-#-!:M=@T(P$U',C>
MMCO,-`,-AM,AMM^>\A`[34>"TVTG6DH:%8:3K2&TIU<57*_>"'.R-UN$EP'S
MIZPM$^=Y[AGDP9[TN6.(\ZPJBVH=;3GG7E>6AQF5E$.Z5X_.ZDC]N>4HPC;D
M:23DE8^O1;E<:@[</Q0\4=+/%'X+>-?Z`4[_``['9X3L7_@'.EV2_'P[6_\`
M-W`'ZKF<].`LBVK@8PED&Q\2S,[G(N0>Y6T2,9A1;+.CQ`^W=L1C,J:T"UY[
MTG;J6Q4/:92A:C#%J;TC2/.%E.>3YPAY2YBJ<Y*?7)`]";Y=DM:93;;'IG4;
MJ&TUJ9/TC45I&FM1^D^?\6A/,ZTQYGQ>1Z/K3'B\S_`QBJY7@],AR->)*Q%6
MLBS3")TM)K2SACB!5LB2!A$@5'B)9<0D6-<++(?T`QI`R7'5JTWY2E;W%#"E
M*2EKK9GVB;ZUGPCD6^M/"DM7*S-D`B>@!OMS4@VZ,%X@])$8<0_I38Z/5X"F
MFD[TAI8(:V](6*PINXL-DE+8NL[WB99V][5O:E;VI2M[VI6][WO>][\>][WO
M[^][W]_>]_?WO*"%^PGX(;9_[==_Q5!YC"=B+8;P?;AVG6/GB.HP!@#`&`,`
M8`P!@#`&`,`8`P!@#`&`6!RO^"WDK^@%Q_P[(X!P+\4?@MXU_H!3O\.QV>]6
M+8N!QC[<7Q1<67_E,E_<92\%!W("2L6FTQ[<;9AARW1G#&8J=D:O,QU7GGA6
MFB'GV:]9BXB<=;8'((VW'J\PP\]Y#2I$IJ6RRZ=;=0,PH+LSPK#RIA6Z1//1
M\\]<)R?'W6*T@E@NXN\=[+I<*2':@'-0L>Q2#41UGD7"(QY4\0Q8>)[%%Z)C
M3.;@BHYJBDJO76S79J4FLU35U_VY>MA'=NY;X6LU&5`PM)DJQ*UCBG7'D22>
MF'-5<ELV+C>6CY=U<-$`N5^<9G8Z^W"27(FSRRAYPFOLV+T#4;#-U0Q)U:<X
MI[+5*NJ25GW(8AYT`P#9GX&K\?R7^1]S#^NCK3GFP]L.Q\3K@[(ML/"(ZM<X
M&Q@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!IW[I=
M4.TO(G:9?-'"%0XFN-4EN`.->+Y$:]\LSG'$S&6&B\B\U6LE\<6-XKY!&DHP
M^-Y+BVV2%&1[[)0)C:QEM[:=WO!QXC;E.:2ME8WJ=Y(H5$DFVI-YIVRUJXQT
M^Y`\(1^93KE]*2U_9ISKE^Y\WX,Y-:3\J]P^Y`\(1^93KE]*2U_9IQE^Y\WX
M&36D_*O</N0/"$?F4ZY?2DM?V:<9?N?-^!DUI/RKW#[D#PA'YE.N7TI+7]FG
M&7[GS?@9-:3\J]P^Y`\(1^93KE]*2U_9IQE^Y\WX&36D_*O</N0/"$?F4ZY?
M2DM?V:<9?N?-^!DUI/RKW%F<C=%O"&7OCV^4AGB#K?&NW*F6BJM2+G9VVDM@
M.6&$.B$&N#IZVLJ(0*HS3ZF4O-*=2C:-.(VKRM'AYIK%M[WX*H$FGC.C3[*S
M/XCH=HT,77*53Z\>IE1\#5J_#&J&6IP=1<7$B`DJ8<6AI;C.WF%[:6MIM2D>
M2I2$;WM.O.:+IP#2/V9Z?=O+)VIYCY;XBH_#-RHO)45Q>@!VX\T6#CZP1Q]+
MJ":[)C$PX'#UZ$='>(1I\0MN82I;2O)<%:5K[_2#"8B:E.>N7V9(H5$E5J4\
MT\\[T1)]R!X0C\RG7+Z4EK^S3G3+]SYOP9R:TGY5[A]R!X0C\RG7+Z4EK^S3
MC+]SYOP,FM)^5>X?<@>$(_,IUR^E):_LTXR_<^;\#)K2?E7N+(XYZ_=[.3Z=
M$WBN<'\!-0TTN40(W*=G+,,<G<3,'PA7GF&.N1;2-*,C2%,^20ORV-MK5I"E
M*;2R_<^;\%>#2_D_+?\`V+W^Y`\(1^93KE]*2U_9IQE^Y\WX)DUI/RKW#[D#
MPA'YE.N7TI+7]FG&7[GS?@9-:3\J]Q:=WZ'=_P#D"ME5`SBOKK7PIDV$0;--
M=DK7,/1H0<[&R!A3,5]SO&:D'T#".^9$W(A)>=VA"BF4[VO68L-C0M8LIYY_
M@L,"AB3QFY9L5>XZ/\XFA@#`&`,`8`P!@#`&`,`8`P!@#`&`,`M:\PQ=CI5P
MKP"F4GSU6L$,$HE:FQTERD26",I]Q"'5MLZ>?1MU:&G%)1Y2DH7O6D[`Y(JA
MX';PC=8J=7K3E0ZQF.5ZNPL&LM'86Z,H*7$QHP"B$M*Z^N*:2^H?;J6]N+VC
M2M)VM6]>/?H6'DDL6SO?@S%`FV\9U;?96=_$7%[)+PC/_$CK+](FY?9ZQE^Y
M\WX)DUI/RKW#V27A&?\`B1UE^D3<OL]8R_<^;\#)K2?E7N+%Y!\&IW\XUB(:
M:L-#Z[.B3EZX\X]"3&=@;82\F=Y,NT#0:ZX^A_@,5*(YJ<L0#DF0A;CPT>DA
M]@8IUM`[C+]SYOP,FM)Y_P"-U=(OKV27A&?^)'67Z1-R^SUC+]SYOP,FM)^5
M>X>R2\(S_P`2.LOTB;E]GK&7[GS?@9-:3\J]P]DEX1G_`(D=9?I$W+[/6,OW
M/F_`R:TGY5[C/;P9_@^^UO6WM%.<R\[17#\+5'.`[OQC%C\?<FV"^3!EAM7(
M?$EJ'>*%E>,Z,,#&"QM!DT.D(,-?644(VD9+>W'4<XX\=IRE+7/[(U#"H4TF
MW-K-*R>MWF^[.91@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8!ARY
MOF;DSFOFVM5WG&8XPJ_&9?'L1#PT!0^.[`HURR4:/M,G(R,E<*_-'J(49(*'
M99&='$:%8:UIC;VW77!:)*DYUK.^6:5Q=7Q.\]>]W>OFHX.^HN!-7+UYCXG>
M>O>[O7S4<'?47`FKEZ\Q\3O/7O=WKYJ.#OJ+@35R]>8^)WGKWN[U\U'!WU%P
M)JY>O,?$[SU[W=Z^:C@[ZBX$U<O7F/B=YZ][N]?-1P=]1<":N7KS'Q.\]>]W
M>OFHX.^HN!-7+UYCXG>>O>[O7S4<'?47`FKEZ\Q\3O/7O=WKYJ.#OJ+@35R]
M>9$/#,!V.Y+A+E,R7:ZUA-0/+W+O'D3J/XGX6TDJ+XSY!GJ$V:7LBF/^4>09
M7C5%[9VT/IS7DM,-:3M."N5RL5^=3O)>^)WGKWN[U\U'!WU%P2:N7KS'Q.\]
M>]W>OFHX.^HN!-7+UYCXG>>O>[O7S4<'?47`FKEZ\Q\3O/7O=WKYJ.#OJ+@3
M5R]>8^)WGKWN[U\U'!WU%P)JY>O,?$[SU[W=Z^:C@[ZBX$U<O7F/B=YZ][N]
M?-1P=]1<":N7KS'Q.\]>]W>OFHX.^HN!-7+UYCXG>>O>[O7S4<'?47`FKEZ\
MSQ=)ARA.L/%XAQ[LJ:,U;1S)1]@85Z2*9OEH;(/>&":8#'=,=2LAQ@1ED9E;
MFVV&FVDH1H(K?!<$94X(,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`8'<$M=I
M^8>$.&^6S^QE6@SN4N*N/.1C82/X'AR0(<N[U&(LQ,6$07>%%/B1[TFL09XE
M6R'664+>WMQ2MX-.2;4G36N1*OQ:=G/>@@?F`K_UWP2ESWKD/BT[.>]!`_,!
M7_KO@4N>]<A\6G9SWH('Y@*_]=\"ESWKD/BT[.>]!`_,!7_KO@4N>]<BQ[_U
MSY]Y(B8>&L7:(!(<'>./N0`MQ_!-<&>W/<:W6"OM<2\MRX$:<`5.5X!,B/I"
M%E`[(';?'6XEYL5-+,[K;_`OCXM.SGO00/S`5_Z[X)2Y[UR'Q:=G/>@@?F`K
M_P!=\"ESWKD/BT[.>]!`_,!7_KO@4N>]<A\6G9SWH('Y@*_]=\"ESWKD/BT[
M.>]!`_,!7_KO@4N>]<CP\6SO,$-SS>.*.2.0X/D:'!XCH'(4'(@4`6CR,=)3
M]RY%K<J$1H&?F1Y$)T6KQCX^UM#O#O\`I/\`NCJ'=);!RDFM>NR6I7F56"#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P#2;X6:)'L_*73RJRQ,SNO2$;V.DY"+C
M+#/P(YYT0!Q"B+(-W`R4:X6H!,B?H1)#CB&=EOJ0G2G%;SI@DHHY-34F2)N&
M&:<GC+A$:\?B(XS_`)LL7SA<B?6O/3DX-%'/*1Z3'Q$<9_S98OG"Y$^M>,G!
MHH92/28^(CC/^;+%\X7(GUKQDX-%#*1Z3/*SUYXF'),,'@)A@N04RN0*9O5_
M:).6,RD8=9CZ+0ETE3`Z$,,J>4O;3*4M(VE"=)TR<&BAE(])GJ^(CC/^;+%\
MX7(GUKQDX-%#*1Z3'Q$<9_S98OG"Y$^M>,G!HH92/28^(CC/^;+%\X7(GUKQ
MDX-%#*1Z3-Z'@QBC#>A_7%\\Z0DB=5"5'4;*'F2A[S0=PL@@VB3Y!\DTI3(S
M#+"7"7W7?-MH3M>_%K/&[7M9U,\,@.=[PA=6B[WW\L</9WIXV(KW3[K;)PT4
M':[3"1P$C8>:.XHLW(-`P4S&C*-E!JY`C&%NM./NL1(#.W/-CMIUVP,,,6--
M3E*7J9CBBA4,G*;BGNA,8/B(XS_FRQ?.%R)]:\[Y.#11C*1Z3'Q$<9_S98OG
M"Y$^M>,G!HH92/28^(CC/^;+%\X7(GUKQDX-%#*1Z3/*'UZXFCVEL`0,P"PX
M4<<XR'>K^,TX;)FOR,D8MMFT(0HJ0D"BCSB%:VZ6:2^4^MQ]YQ:F3@T4,I'I
M,]7Q$<9_S98OG"Y$^M>,G!HH92/28^(CC/\`FRQ?.%R)]:\9.#10RD>DR)N?
M.(J16^"N:;%!-VJ+G(#B;D::AI,3D3D1!4=*Q=/F3HXX9>[5O2"!"V&2&5;U
MOR7&T[\6_%XLS%!`H8FH5-0O@:ACC<4*<3DXEQ.O.E.+=IM2==6MQQRLP+CC
MCBMK6XM<4(I:UK5O:E+4K>U*4K>]JWO>][WO>>0V7-@'-1W#IL+?N]W91JUN
MV&1'KT+P6)"!L7"W1`$6.?QRV<:V&!#3D>$ULLQ:B2%Z8\X\[O:UK5O.^!AA
MB3FIU1(XHH5#)RFG.6TA;XB.,_YLL7SA<B?6O.V3@T4<\I'I,?$1QG_-EB^<
M+D3ZUXR<&BAE(])CXB.,_P";+%\X7(GUKQDX-%#*1Z3/*%UZXFC1FPHZ!F``
MV=N;:$"O5_%&:VZXMYW;;#%H;:1MQYQQUSR4:\MQ:UJ\:E*WMDX-%#*1Z3/5
M\1'&?\V6+YPN1/K7C)P:*&4CTF/B(XS_`)LL7SA<B?6O&3@T4,I'I,C;ESBZ
MI4R@2]IJ_P`*H:P0AU:-BI,7D'D#;X92+3"I2ZVEZSNLJ_@+6A2'6UMK0I25
MH4G>]9F."!01-0J<C<$<;CA3B;39V$YY#0P!@#`&`,`8`P!@#`&`,`XU^_/(
M/+;WA`.YD,%SUV0K4!5>3.,82M5BC=D>=N/JG`11'5CKW9"@X>J4;D*O5V.0
M98+!-S)JQ8QITR3E#3"G'7WUKWZ,%!#%"W$IO&E:UF5S,QQ.'%2EV=&%_P`H
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M/52#D`)SM5V+LD)*PEE[&\85VP0LU7[%R?*0<U$34%*2,5)QDK'&`F@F/L/L
M+0O>LQA,'!#`VE)J6=WK6;P<3BBDY-8L?\8<T$35BO1W3YYC0P!@&H'PS\ER
M2SU\X,KW%=OY(I]GOW;+C>C>>XKOUPXVM,Z/,T/E9\:M)LM'G:W.I!DIL"'<
M>"3*LB$D"";*2M#6O%J!)Q+&LK/-8FQ-I1-6RI1/.E8T\QSZ%U7M*P20.'S1
MW-LK0I,4$[*4?N/V:O\`7_3IQ`ZHD!JRTGF:?K[\@=LH=ED!F2<,]*=T(IA)
M6E,Z]&)@K92VN)<6CECQWKRPO@C[8IO;@E$DZWR1WV0W#BRADDX1V=[?"($8
MA2$"R_G%%<I,ZV]'$N)',%1M13#V]M+9TM*M:N3P5R\SYC*17KRP\BJ(XV[@
M+BWI=7*G=@<<<YZ,?%-[A]FH^;:D!XB8GEAJKAW,X]@T0N(@90P=KU9Y12!V
MVQM//&!-D3$P5DO6+5KUH92*]>6'D68+1>RS[LC>0KOWG>?:B6HV6N(O8CMX
MXZW!10[UF8`D;`UR1M:(F.$F2+`T*27H,,>5>ED-MMG+(=N3P2MEYG?*^^FT
M92/5Y8>6KT+N5Q]VVW48J\B\P]RY6MS(Z#!"8'NAV0L4@R$ZU-OM'2T!!<VR
M-@@07F*W//LFSD7'"O,Q1KK3JFV=JR8F"FU*JO<2]6Y/P&/'>O+#R*0]5>VH
MZWVW^1>_S#@IP$82V]V1[D-K'DI58#49'OH7R6E31TDY*Q;8`CFDOF+D@$#M
MN*,'TY<G@M7F>;Q&/'J\L/(_=RG=N&H`^TO<D]]1Z]%FD1Q\L1V=[>CB#EA)
ML&Y%I2GN4FU*3$;JEC1-/-I6S"O1!C$JX&\C2%3$P.KS/5KUH8\>KRP\CHE\
M#-.WV;Z@3#7(]LY$N%EKO8+G&J+D.4[A<;Q<P`X"V["&@9*>ODK-6A:8;:70
MV@I(]Q8&D*&2AK2/-Z\T4E%$E8FY;)G5.:3=RS)9KE0VQ9`,`8`P!@#`&`,`
M8`P!@#`&`,`TP^%&_#ETP_H_V?\`_P!EPIG7`]OP9F/L?VAX1&'VM;WO6M:W
MO>]ZUK6M>/>][^]K6M:^_O>]_P`6L]9Q*_7'8J,L4*;9H\PV$"DA2Y.-82AL
MB2$%=00[')61M#;*3M)2*\_OR]CLOK?0R^M"67(ZIXK4[)W`F@^^\.37K,B1
MI<TP_(?"B39%$'B$L@6&P0%-!:<;,CC8%+D>).0<[,,,-Q0@@2)=(HD7IM3^
MM84,:L:_BJSL3B;OS-*WQ1:3?CO]#W'7+@*2G)21(H-A<W(RP1FA!`VXUI+7
MPR/EI0=(8]Q=2,Z[6'Q('6@W&12"&'"F1(C:D[QBX1*2B4Y6NM9)9U9.O/,I
M_G3V+J=NNV;A=^,-T_1)8"7>JY08"@/2-QZ;"160VF)9>SK2^^@<:X)D#FO-
MMNZ5#J%%6*KR70]I1Z2:47C).QTME3;O)UZ<R"\Z`8!MI\%]^(7UR_HM/?XY
MM.>!VO:^)Z#/?(#03W4$*+\(=R$D08@I3'2GJV6_H=EQ[;(HW-O=]P@EW3:5
M;;'8;UM;SR_$VTC6U+4E/W\]&`_E_7[F,)9#MBX0EGU0AJOR<\!8(B:V@ZMR
MD48,(*E$K')(0,7L[8QJ$:0@=D?SKNW?-:2PO;OEI3KQ[[.J4FK5*=AR)%%Y
M,I(L=I*J.IXSU>J$8FBA8HTI;*>+6**ZX\_(L%Z>2+);1/#1`_HC(ZG4;66K
M>F&T9<,6E2V5=/&S:J-_Z7POX?:WJGV1RS21I(LVN\<1$2R4Q+C;97'Q)?B&
MD(0Z-"$6@P<QE;8+AC:2EH0RF:;";,/']-)(ULH(OY1-V9VMMTOS;(A2[-R?
M7Y:KF5N'K1$4V[L](;BRVWTALDG4,D9E&]IV[I`S-0)82E+FDZ]/;VC2=(=T
MLH&G-N<[5YM]O$%<$Y+9G=G3DW3)BZ/0<)2A_3Y#_?L>,W`UUF)-)-+-%.]3
MC2=C9W:%O,;:W,%(<C)GTH4TM6V+FQI3;LI.;;EKHY2S9BSX);E(HMGY"J$S
M!2,/7J>X!+3*I-LB42+%"D%^GV>MSH;+K$4.RAY(FXB2;$0EM*Q6YE$<VMX<
M!#Q%4+3JZ*4E5V*3MOI.^4R==4ZLS&$79?\`%Q[`?H2Y6_P)/98^Q%\,7!FH
M.W#\4/%'5)1OY$T_^BU?_P!DB9X3L73@'.EV2_'P[6_\W<`?JN9STX"R+:N!
MC"60;'Q+/TTYOQ>)M>_'XO%XD*WX_&G:M>+Q:_UI2I6O_P#%.]_Q:WG<Y'QO
M7B^]O[V]?>WK?^K`/K2%J\7B0K?E>5XO$G>_'Y&O&KQ>+7W_`"=??5XOXM??
MWXM8!\[UXOO;^]O7WMZW_JP#_=:WOQ^+6]^3KQ[\6M[\6O'K7CW_`,&O'O6O
M'O[WCWK7^O`/I+;BM^2EM:E:1MS:4I5O>D:1YS:_%K7C\C2/X>U?Q:1_"\?B
M^_@$*]A/P0VS_P!NN_XJ@\QA.Q%L-X/MP[3K'SQ'48`P!@#`&`,`8`P!@#`&
M`<6'?#\HAWK_`$P\5_L>]8\]6`[#^)\$<\);#\/_`%$8S9V.9ED"GK#+"U<>
MP2/J&/&ID.HW=8C;FS=/A:T!01;EJU2DJ)8JS)[+D=<D37'T?7(D6/6O==CK
M5::Y&ONA1G/]:;DIU=K4I5E)6K-.M]'2=IZ>MS]9;5,K4)&=*VY=HN2L%_<C
M`I:H;W&2+DF^U,1_QDS\=;$DN0].CS`!%\:LUVQ)6,9N1'D23XH!HXSQ:#?^
MER7^;7GV;24ZV\O4]T7KIE#"C"KD;'8'#@N/BCSY6/G%EQ4AZY2J]@@(%B(P
M73340G>FFWAY=EQ:O&%(DK<VP.>.Y?9RWUD"B1\)TS'="3+6SDB2:,W".%.Q
M;CX&X=@RS2*)=IY!E`(]-D(JI[BGG4B;6"[+HD&@3)!AT=;#_P!+EUX^&>FL
M4ZS<S$#?_P#;^+.@*O3OPO=:_E>].?VIN(<YX7]N+P^I'3!=O^L?T1'>CGC.
M@P!@&F?PV\]+U;@'KE9H`UR-G:[W*XRG(:192TMT"5BN-.9CH\QM#[;K"UC%
ML-/)0\TXTO:-)<;6C:D[Z8*L:3L<_I9(NS%L7U0FB^$[!<P:?9@ZT?7(G<K*
MAICXZ$H]"@A!3"B*@VH:-T+`A#10\L72*8[,Z:6.U)OP(9$FX[M9JR?4X8;7
M-RO;U\)N6:KH<#(A[[N.!%9C2FXD!BN..F-Z+D.&O*A6QZIJY;GO/D2"MQ\6
M!7Q6+"[9=K9BTD!Q>CY%TV-B!1<?^<]M,]\I;Z2]!_I5'B>UQ;ER=:Y/I)%@
MKW,\OQ*+`LB1+<M9KW7(X?CC6JJX=5F(_<0F)NR8X$F3D(QL<=W<@>P(X(R4
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M1LOR),A(>(C!T[,B-2O*%V2:&*9Z!-P,X3`$+=A=B,CZ<":I-3NGJ^R6QUOF
M-ZG@1BB3NG%E.-?=*,,[+<_E%E/N*=?))(N&GGWWG5[VMQUYU:W''%;VI:U;
M4K>][WGDC[47Q/BSNK%L7`W`9DHP!@#`&`,`8`P!@#`&`,`8`P#3#X4;\.73
M#^C_`&?_`/V7"F=<#V_!F8^Q_:'A$8NU.57`VFM3C8;D@N&L$-*H`:7MMTY<
M=(C&)#;<2T_M#A.V=,H7IE[:5+TK33F]>1OU.Q[#B3Q8>4V`S)2,N/&)Y)SS
M,Z^.)=W&_6,4188^GBC%LB$UX+S&F1ZPYIDEH=@S;4HIP0MA3*]E<U!8U'=V
M;'+&UUJ[+*2<RSS2OMURY%#+Y3A"(J>:C..(\8,@ILH;SD=52XV!-*"G@14:
MTS3!-O(#;/9;B7)0@J4>5'O%%R!1*F-@U0--3C]6F[.]J;<J*=$)]4UZNK;I
M>0SER,U;ZW<H*HM0,A`V"8GULBO0VDE$2!Y!PFU'CUL29>>%4\CRU2<G)B)V
MWY$8%%L+4SEQ')IQ3FDK'FU3E74EKF)UI3_>K2^E\U1TS*04J+P\R8N.)@*_
M5V4^BRJ-;AIPZ4AX`4DBLEF^ECBR(+#`T00$1(E-:=EV90$IN-:SB-3G'>W:
MK4DV_P!5E/#-(6_BZY6]7S+,EK8+,5.7-AN)6A16HMZ"-N&H.)-"B#C#*AMT
MI9HM4$&&DC&HN2WI\PQ4B`;<2&X(J,CV!`7K)J)3CSMRFYM2>:>;@JU%].NN
MLQ`^="&VGP7WXA?7+^BT]_CFTYX':]KXGH,]\@-'O9B\N\?^$KY!FD10LTR5
MT@ZNPY\8:ZXR*=%G\Z]UO6@+ZFDJ7YF0!9?CG]:UK>F"W%:WY2=:WVP4.,HE
M.79=^D8CHH=L7"$I)G/ZY+;A4E2H<Z5*E&I:1D"2UO\`IA"*^?`N[TP^&[L?
M9:#FR2]-/^9?7&QJ5,:<'4^[VR<K'2M)7N?IF.;<_3TH?BSSR[Z(H4RG1!NM
M-2NFO+=8TP@B5"J(;Q2A'(M]AQS;5/%$?UY*-%1,G,1CGB22T0PR?>>;TQM?
M>9)];N7&\_<#ETAP*2D5\=1,@,ER(@/2].);$#68NQR,5&/L:`6R3M]3118?
ME);?;=@].MOZUMY"V(J?JDY-V9J3W;<X*F+>;(]N3*=XO&*=J<L\[8G&]L#)
M;(`C!1"FSF_5RUO2\")72Y"')&6OX/(=G3B03!7%+&25/U/]2ILU9JS4[Z`C
M9KDIO2;&AZN#+:F+!+6./%$D28H*/+F`2XP@,\6,:%1,138)7D,QR=QHWG$N
MM/(>C#3HLC6+96Q)63=+F['K^]07KOG]UN83*!4R'!2F88E_-,.L-D:>8D*,
M:TE)K,6RI*QAZB?%A/\`F=K&C[-(,JT]I"_2\Y-6-M_Y$K]<WL0GZ5,8^X?*
M6[)U1[`0(M:BX1#O!-N%*,$]'64\Q6^/KLC8J74`#.MA2)4B+(/C*>>V@V.0
MYYUU+WDLR*"2B<V_TQ^JZJ:@[4/Q0\>O\.DNC?R)I_\`1:O_`.R1,\AV+IP#
MG2[)?CX=K?\`F[@#]5S.>G`61;5P,82R#8^))]>YV5!TZ)JCE88-7%@'#^M=
MR'FB"2RCWAF"WF]A.^-`-+EK/4AQMN;3YJ;]-VO_`$70KNW`VVYVYO#9I)/P
M.777A0\QG*])*BRQ?BFK^I(J!E(K<LI4>I])IR$I8EMZ3"H5LX9WRR-FMNLG
M;VD=IA\=W1YLDQ(M-RI+PS6V;_L6>K,U^=_VVGU`<SQT'"52%U36W=4\>;3'
M'MS#K1A!=I@K#%V5\O2PWAMMGER\82REAAI]D.NQL>\05K22&C@;;<[99KG"
MUZ)^+"?W6]/F?HOE"B2+9SIO'D.,8B#E]AN*#BI%PFS$:@?51;CZ8@!]T=N2
MC3IF7W-DS"BV)B6APO0P5C,:8L2E^IVJ>:BG//KDI2L4YDZZZL*&;R)5#9>4
M):H_J2'FJ4U5)",KTA'1CBBVYP*9W,LNZ@71$NNI`&$(:<!<\]M+A#3@C*F`
M!+BN2K-J+&4]C4O6?IK+.VEJEZKEOKJ*D'RQ"@&J/#A;7'E%UFF0$@9$7(:*
MDO*H\978T'<=(#UI3P4?+(@MN3`3NBUK?=">'(1J-\R9,1RS.L3JJ?JG//FG
M2N;71.L]GHC"3L+OQ\16W?\`PN5W?_YVN#RX3L1;#6#[<.TZQL\1U&`,`8`P
M!@#`&`,`8`P!@'([V8Y+J-![Y^$PB;%1OA<1R#R#Q=4O3U'BB*KT(1TQZ\.D
ME1[1,9(;<F&;+JHV*/(0Z#YAZK)$>=?$DBV<]&"4X;92C;VTAU[=^8YX2V'X
M?^HBRD<]\`M:T$UU^$]2)L<K84@O/5Y\K>I:P%RCD2N1>@UDK`#K2T4&,2M2
MT1@!KMM`'&M$/%.JZ8L>>*LI3K2B4]ZGMI88I.SPGKY4*0#SEPBAN(8/Z_P:
MDQB85&BA-0OI2O08JTA2RRD%1#P\TJ9(E(%W>II)?H2XE9PV]'>C+:8L6D_7
M5NE7;J(7@[R/5[&%7DJZIRLZ'N/B4P`(HDD+'$FQE2XGHTJD`F&@TO2HLA%K
M.ER34)]<JMUQX]F3CB]Q8K$RDU/]:M]&V[-M%L8ZX%)U:V:_8>4W=]>K?`!2
M=@IB8."%@"8EJM7)/%'(M<C(:;`-A3/5_P`-&K?*<B-P<<X(\M-?TU""[BVT
M&1;1_6G;.;M_4G2^4I5\2^%W#[V\#W6OL]QA:6+:,3Q+).O7BDATJ5FC;!&N
MR$6/&'V^?B#8@5J"T`(N/L,S3R7@(1FMPSXW'\<'#Q-:AI-^`$*")2_4J.:H
MY.B5:YZWVUF)\)/K-FIJI(B6G<D\:UR'C(B1KMHE=P-BY==CSF7($9R0K?)U
M)A:6+J28(&,VS,UU,4Y-")9)(!V<6IIM36D*(<K43<YI4AOMA<]SL8GJO]5+
MTM/DGDJMV&>ZB4B`CK1&,UCN+TS;'&-DH-RO.L"=L:6\N=]6"P:)%FV6!BP1
MK4\4S-H!<5!)V^Q*,NP;%4QA$U!$VU669SK%#2<[%*E-V?>"[?\`6/Z(CMBS
MRG08`P#2AX=?\6/@SY6M#_53S9G3!?N0^/TLD79BV+ZH3G6B7S!96,)CY%<0
M>/(!O@RS13P+D68R2VX-(MFC[T^&L)Y*"4%,;T\.IK3K>]+0G>>QG`V"2W"W
M/9=OL#%:YHY*'*K#8[!,WR5(6VIF3*-?#>$CYNN.P4Q==?`>4@./BAX"?L)=
M>#D'I"%I\*F6=.C'#^2BAE6&'8I.M&[JINJ4Y6LNQWULZG]Y%.%X'['@#SY=
M?[`LDCE'2-]L3T'<^6V4'6IB*H-Q=GYQ6ZL(G4T2Q=*M(D7";VP"$0*21,3H
M*XQ+FSBAI^BU)54-E5*W-)T%;^._Q*W9>(.TS1(_PCY\B8\B2$KC>HI^X7F.
M!D6_)K'#3I$R"Q6VH93K<6]&Q=H.G/(*FH5![\@J2<(-:=3@T;\RI.<5'MNL
M>P3=_5G#T(F+BNQEKY"Y)A9F_P#),M>ZY`V*WCAUPRVR7PBF8N[52+L$17`Q
MG`5+'B;37FF2R8($F.&FN.!FPD/-P(18E_2DFE#)T=EC3M\'.N9ZR5Y%ZC<8
M\UMR9A\WR-S_`+;C*=Q79ZR5`QM@DIR0U;:O"VXZ6!1+V^O`M4_B^7)8C[19
M&9G;<5*.03AC<4[(+=!CBA>:&V).;7\7*ZKBS*YYT5K@GOZD8%/OO%/O$DNN
M/D$.N/OOO+4X\\\ZO;CKKKB][6XXXM2EK6K>U*5O:E;WO>]YU(=+?@._Q+IS
MY1W//^*T9X8^W%\47%G=6+8N!N(S)1@#`&`,`8`P!@#`&`,`8`P!@&F'PHWX
M<NF']'^S_P#^RX4SK@>WX,S'V/[0\(C$@`Q<><$>TG2W`2QC&T*<(92M8SR'
MD)VZ(\,6UI2D:UMP4@<A&M^4R\TYI*T^LXD[N=A)O_2-#5BMBZ?-C#ENH&VX
M80_&DB&-/GFKUL@LQ+P2$L'(4.2TR0>EY93IS[ZN>36=MT:W]53FG03**%S;
M/#-QZ"(F*+<$!0(0=Y1HTH<7J*DH)4^Y(LD>DL6+4.5&#LRK"DK9+KT5)>;6
M;Z6X37!//GFM5CELMW@J#O/4V\$L!5=KZ15UZ=KNV6FR$;T/.>@>?7Z7MU<H
MKQ;CF27_`"Y%1!9[YYCI2?3R6G)DU.<W.:>[5PN4E*B+/PS==7WEJ0/(8U<6
M/H&M"OL1-X&N]=29(GJ=C"0WQ%C`D+86RF1'T.$PPZXZVVXO?G'4[0I6M)TX
M9Y[87"Z6SX$L<SQR-X$,@':\Q5X\09MXYV)(U)S;I,2F5<AGY1&M:.:&D-D/
M0K*F52`[Z1FRRV]H?VB.7'E#)SGZ+,I+6J:_O,1]F@;:?!??B%]<OZ+3W^.;
M3G@=KVOB>@SWR`T`]W/RAM\^1CU4_7?W?ST8#^?]?N8PED.V+A"0[GH.0P"Z
MH2U/0T1,0BHF)E0I<Z(E=[DO6R7H^5@A9P2,D`7(N5C-;=8:L,CY3!Z#@7EJ
M9V\(O36M;C4Y.;4IJDJIRFG-9Y*R3UB9<$OR85,IG4$U6I-HGCY"9<2AB??3
M'STNR4/*SD:D^PFI;/-8(0CS1>C(T)P($N,`!-8V2N*&4JNDEFJE8G3-OO8F
M1KF@,`A+LO\`BX]@/T)<K?X$GLS'V(OABX,U!VX?BAXHZI*-_(FG_P!%J_\`
M[)$SPG8NG`.=+LE^/AVM_P";N`/U7,YZ<!9%M7`QA+(-CXEF9W.0P!@#`&`,
M`ACL)^"&V?\`MUW_`!5!YC"=B+8;P?;AVG6/GB.HP!@#`&`,`8`P!@#`&`,`
MXL.^'Y1#O7^F'BO]CWK'GJP'8?Q/@CGA+8?A_P"HC&;.QS&`9-Q_9^S0H,2'
M$5>MZ>APZFR#*G/V9,M'/UVO\1UV3]6E0-A@&F![,)PK37#%O"D2\2XN67`2
M\846T8/C$3G-VSHI2MB:G-.JQF[KYEGJGOW6ERC]R+GZ>QZ72..VJ_\`"NK7
M0^%B(4X0DVR5`F@O1<SJ?D)66F&95YCCR+`/*600,:Q,6<HH`B0F724,19FY
MZW8G.=DKW+P),P_S8&`5>G?A>ZU_*]Z<_M3<0YSPO[<7A]2.F"[?]8_HB.]'
M/&=!@#`-*'AU_P`6/@SY6M#_`%4\V9TP7[D/C]+)%V8MB^J$YQL]AP&`9!<,
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MN(0+F@,`Z8/`=_B73GRCN>?\5HSPQ]N+XHN+.ZL6Q<#<1F2C`&`,`8`P!@#`
M&`,`8`P!@#`,"^Z'3:U]I)[ANUTGF*&XCL/$2.116W;!Q:3RE%3\?R*-4F#6
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M_%$VQ,%\&43I1<M(S!1S5?\`7%@W$LJ(DG&V0E3<FIIIM&EF/*WM6<G6IHG_
M``#61VFZ"<A<[]@".>./.P59XK(E.'>.^(YNLVG@\[E)@IGC>Z\OW*)G8Z5C
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M;M?PG#SD_77)6]RLE6)DZNSBZKPIS;=8D*<C%Z:DHO5AI_'<Y`%&1S^_1SF@
MI,C8A27!2/-D-.-H%D]6]+[FIOL!Q3`\J\_\B\X<>]DKEQP/R3&T426J5H\'
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M0)0OD:9&CR"?0],(,>B9%`_G-N[#?\GS>X\+&TTY2>HJ@AA::G-=^'D;R!>W
M/!I,E"1;LKR!$/6&Q5RIQ1=FX,YUJ4*]8K?.QU8K$638;/QO$0,:_.6*7BX6
M.7)20;#\E("")=\Z^VE7,LGJWKF9+8(,`8`P!@#`&`,`8`P!@&@?M'X'WFGG
M#L_SQSW1^QW%].@>:+33[4BIVOAJUVJ7@"JSP[QGQ20,N>B.6:L&>P;OCI,R
MSO4**X-J34&M3_H^GW.D&$<"DDG6?#D1J&*4YS2E1J]O1=Y!WL-.S/O8\%?1
MZO\`^_K-Y=Z*WLF)!WO,O:/8:=F?>QX*^CU?_P!_6,N]%;V,2#O>9>T>PT[,
M^]CP5]'J_P#[^L9=Z*WL8D'>\R]H]AIV9]['@KZ/5_\`W]8R[T5O8Q(.]YE[
M1[#3LS[V/!7T>K_^_K&7>BM[&)!WO,O:/8:=F?>QX*^CU?\`]_6,N]%;V,2#
MO>9>TN&E>!!Y]A>1>)[;9>TO#\E!<><R\-\JR<5!\$W2*EID;B?E&I<D[A`)
M0_FF7#C7YI=63%Z/(BY!L-):B/1']MZ;5F+"N*%PR2G+T<S4*AA<THIRB56L
MZ:T=9TD9R`P!@&!'A$NGEI[K<,TWC>F\B5_C.?IO+M<Y0%GK/4I&Z0Y:(2KW
M6M/PY$/%6:I&I44W<-E-&-RZ=,+"TA8[R7M^1J&+%B42S<I"C33L=U,Z=SN-
M1OL-.S/O8\%?1ZO_`._K.N7>BM[,XD'>\R]H]AIV9]['@KZ/5_\`W]8R[T5O
M8Q(.]YE[1[#3LS[V/!7T>K_^_K&7>BM[&)!WO,O:/8:=F?>QX*^CU?\`]_6,
MN]%;V,2#O>9>T>PT[,^]CP5]'J__`+^L9=Z*WL8D'>\R]H]AIV9]['@KZ/5_
M_?UC+O16]C$@[WF7M'L-.S/O8\%?1ZO_`._K&7>BM[&)!WO,O:;BO!]]3K'T
MRZ_KX?ME]A.2)XOD6_7X^RUVKGT^(VN[3'K1,<)"25BM)K28]&M,J?>F7]D*
M\;FD,ZWI&N+<VW>V]YJF:REM?LN!F_D`P!@#`&`,`8`P!@#`&`,`8`P!@#`&
M`,`8`P!@#`&`,`8`P!@#`&`:0._O*/.X';B$XUX]Y_Y0XAIH77*KWA^(X[30
MFDRMGFN3.1(`N2DB+?1K<2M28JOQ@K#(CH;#>FEK4VMQQ2LZX*!1MSS(D46*
ME1.;=L\TKFKS%KX8]H??;[.?VGA/]RN=LC!KWF,H]&'YO</ACVA]]OLY_:>$
M_P!RN,C!KWC*/1A^;W#X8]H??;[.?VGA/]RN,C!KWC*/1A^;W%NUQWL!4698
M>N=R.R\6S.V*<MDLAH[AMW1EALASDE-R:]D\-/;0[('.N$.--;;';4K:6&6D
M:TG3(P:]XRCT8?F]Q<7PQ[0^^WV<_M/"?[E<9&#7O&4>C#\WN'PQ[0^^WV<_
MM/"?[E<9&#7O&4>C#\WN+2O_`"7VNK=$NMBC>[?9;UC`5*R30'I#W"CK'IL5
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M'HP_-[A\,>T/OM]G/[3PG^Y7&1@U[QE'HP_-[BW;0[V`ND:-#V?N1V7EHT.Q
M5"V#"O'<-M(:L-"MD)>:C)Z4+PTPYMV%M=<A9EAI2U#O/@-LELD"./#NLC!K
MWC*/1A^;W%Q?#'M#[[?9S^T\)_N5QD8->\91Z,/S>X?#'M#[[?9S^T\)_N5Q
MD8->\91Z,/S>X?#'M#[[?9S^T\)_N5QD8->\91Z,/S>XR!Z3<J=@5=UJ/QQ>
M>QG+/+-%MG7OGNUR%:Y#UQX\$-9*-=NO4=79B/?J?']2D6210+S9!76WC2!'
MVSDJ6/YUAIQ/+"P0P8LL\Y^$N9N&+&3HE)JR>?&O;N-\><2C`&`,`8`P!@#`
M&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8
M`P!@#`&`,`8`P!@#`&`,`8`P!@#`-"O?;\?,/Y(M!_7+R_G?`6Q;%Q,82R';
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MM7$Z/>N'XO'`WZ&.+O\``\'G@/0[7M?$F-[_`,D[_P"[7_\`#O!#D?ZD?BI]
M9/D]\+_JXK>>Z#L0_##P1QC[<7Q1<69;4!-2<M4>/>7%CU@MF2$D36D&.NQK
MA,68U'2330._2'E`2B@BE,)2XE]MMQI;:D+WXD4Y?IM559756E5S,K7UK\+2
M8B!NN\Y(!I]//J<>2/''F^K_`%R0]'FR;=DE)"(;=D8^8\^'77":_7O2--J>
M-;CG#QUFO/J0_A913FIUO5519I7-^-9%IZ9KZRM\$6HQ'<-QEIJ9&YZ3G*RQ
M`>M[6,:(;I9D^.$Z\S7Q6@AX8ID60D]#B%)0=I0@&R'F9YQY36TV<;3I*;DI
M.Q7MUX"E/7;=]BXU17`+^F@/A"2TTA];B)1I,Z`84+NQ7M3#1[KT%/C`D-UE
MRG+*T)#'(=/%;"8=;])D9%E_Z5\)3DU8IV-9Y\K$2D]7J4@ZI</@!/;=MTZD
MXNDKL4*A6Q7$ZFGA_,QL)*CA1!JAG"C0BY12?2VUMP\U7V'%M/LRAZ&-'FA7
M:DZ^N[5;/5-X]7$%9T!*73C\H9Q!\EOM5^L/J9GGP_\`#^WV.N#LBVP\(CH.
MSSFQ@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@
M#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@&A7OM^/F'\D6@_KE
MY?SO@+8MBXF,)9#MBX0D&LM[>=:93O6MNN(;UO?\6MK5I.M[\7W_`!:WO[_B
MSTG(R6)KO,D'*,4RL6I,X)`2$;6Q=Q\A#M1X\G!W,67C@4I*(7X]@6J?!D&W
M#/(<;49I@E+8X;@['*<+6,X;4WKDX:O=3@6LTLZL/]9A>:Y"O2\<?80!H$6J
M`M-QZ2JV4W*0(H0$B#N,9CTK7YO49<DO*FT*:==;D"X]XUTA;PFTX$U2KB=:
MS3K.<]<-FRDAUP7WXGD)$Y_KPKS;\TXR%611B1Q]S]<-&CFZ7N9#\Q""^DD-
M-/1#E)E$R044TEQ]Z):?DFB7%B.N6<#E2<Z65K6O@YK;3.*K?N?%6=4*01-<
M@`P]MC7YP`I@;C2G2!+VV'6240-O=X](2*+L1(HY4P^,;7HN9E9@<\TB*B5Q
M[!NF--:790MIRKC/>G$MUK2LK80M3E`:=3+L%V:R#V&<TC<1))&C"P68DB*$
MCW=1K+WJP"(,98:DFFTKBEN^)UMYY]IL<F/,D+#*5%)9M=74&-O+WX)N4/T=
MW7_#4GE=CV/@56K:N)T>]</Q>.!OT,<7?X'@\\!Z':]KXDQO?^2=_P#=K_\`
MAW@AR/\`4C\5/K)\GOA?]7%;SW0=B'X8>".,?;B^*+BS(3-&25*3:JC"0WJZ
M=@1I,HVWP)9ASL1"2#XM8$5K<L,,]*1IQ.G"M>4G0H9$;YQ6]+>)6A/FMY:;
M<TW1.B;5>&\%>;D>#W8XC3\)+,R2:X6(.IK<KY#\^Y5*[Z)+K7J<4PT\/==V
M3RQ$A)BG:_L'?HJ#&=-E9_\`35;]W38U+7/4*=7_`.^AZGY+@)TO;K4!."A>
MNA]OBHW+/O+@&+;)ZTB,(>LNM"21=/3%*EW9),BPN0<):AF8Q6M/I?\`I*U3
MEJMDK:7SE+Q+3\Y_LK"(;.[`O3\F[6!7@H)9&MQPK[[Q*V6_--Z=TEXC6B5L
M*(TZL717E%(&4T@E;CZ7'%;4Y5MZZ9"@Y02ETX_*&<0?);[5?K#ZF9Y\/_#^
MWV.N#LBVP\(CH.SSFQ@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`
MP!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@&A
M7OM^/F'\D6@_KEY?SO@+8MBXF,)9#MBX0D%)5M.]*3O:5)WI25)WO6T[UOQZ
MWK>OOZWK?W];U]_6\])R*^+;;4#LQ05FL`BI$]N4D%"S,D/LZ3:(26U(F;:)
M1LD]HI"26RWO+(00E+R7-.:TK4<*=J3S52$SZ;MUL9$7'M6>Q-`.):0X$W-2
M2!'$,ABQS*%C))TRI+4>""`TE2-Z;##%%1K3`[*$)*Y;D"J"<C74*/GHQNP'
M/"V4=P69].4B1(*'>?E22&DF'((*'243.S))6AWFO2"I,PMWRBGE/9,54I99
M+PY+<#RCWV\B-#,BW2V#,A`^K`VA[',,M"1N_1?''C-MF)2P#_H07^B-:0/_
M`*(+_N?^CM>0Q87;##N76=B;5C*/(SDW,-`,2TQ*2C,6-H.,9D9`LUJ.$3I"
M4B@-DO.H#&2EMM.F!]-M:TVC6D^)*?%4DK$E.Y2!$_+WX)N4/T=W7_#4GAV/
M8^!5:MJXG1[UP_%XX&_0QQ=_@>#SP'H=KVOB3&]_Y)W_`-VO_P"'>"'(_P!2
M/Q4^LGR>^%_U<5O/=!V(?AAX(XQ]N+XHN+,LJ181JQ/)E"FS/(W&S`#9D:MI
MN5B29.+*`&F8I;VT-ID(MXA!8_\`NH[F]M[TP6$1MHQA$IJ6M6V.MCU&20"N
M0*&Z"0K5,</G77IY],Q-HB#2GC#]6O8<K)K8$%8D2G5S%:44`L%N-`>JFR@&
MW79Z22G.+%/M4I13U35M%1RVVT0IUTM179F^\.)F)G4;Q\@R,]*>;`>T&%'I
MD`43-C?`UH?:MO0^@(V0@$)*'\J0G_4&AYU+2),S:"ACE6+U=LEGUN;U3H5R
MS;ZZ^O`^H;E;CN+9$7\`THD-%:(-+$CH,=Q+35VKUF;$`>90P\RGU9!.Q(QG
M^YR$9ZS?6,2\AK6G3AC?\O5Z+4[-<WF<B===*TM_X=\;HCAQF^/6%%;B$`$%
M.M`J4VI44@-U+"O%M;[[<DAZ6:GGO-S"]GJ#7MMJ,"6JRBG;2<\]_5)RX@A+
M-@E+IQ^4,X@^2WVJ_6'U,SSX?^']OL=<'9%MAX1'0=GG-C`&`,`8`P!@#`&`
M,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P
M!@#`&`,`8`P!@#`&`,`8`P!@#`.1_P`/!W?^XK[N<6ROQ8_&7\8'5>$C_,?#
M3X&^J?@_RWR03Y[SOP3M7I_I?K7R/-^;"]'\QY7EO>=\EOI!'B-N4YZY?9ER
M>.E64F\T[4M:N--_MWO^2O\`]>'_`'09TR_<^;\$R'?^7\CV[W_)7_Z\/^Z#
M&7[GS?@9#O\`R_D>W>_Y*_\`UX?]T&,OW/F_`R'?^7\CV[W_`"5_^O#_`+H,
M9?N?-^!D._\`+^1[=[_DK_\`7A_W08R_<^;\#(=_Y?R/;O?\E?\`Z\/^Z#&7
M[GS?@9#O_+^2V;IX</X34ZV5O[F'T+X05F=@_3?CJ])]$];190'I7H_Q2C^D
M>C^D>=\SY]GSOD>;\ZWY7EI/#S36+;WOP58"J_7G7\=>T_H7]</Q>.!OT,<7
M?X'@\\X=KVOB3&]_Y)W_`-VO_P"'>"'\TWAWPT_Q9<1\6<;?<U^N_B]XYI%'
M]=?''ZM];_!.LQD#ZT]7?%6?Z!Z?Z!Z7Z%Z<;Z+YWS'I9/F_/+[K#226+8DK
M;EL*\#-MXUK;LO>TD;V[W_)7_P"O#_N@RY?N?-^"9#O_`"_D>W>_Y*__`%X?
M]T&,OW/F_`R'?^7\CV[W_)7_`.O#_N@QE^Y\WX&0[_R_D>W>_P"2O_UX?]T&
M,OW/F_`R'?\`E_(]N]_R5_\`KP_[H,9?N?-^!D._\OY'MWO^2O\`]>'_`'08
MR_<^;\#(=_Y?R;3/`F=^_NU?".Q,?\4_Q:?%YU-[!&>>^'?PR];_``DY*ZTL
M>;\W\#:KZO\`0O4OE>7Y9OI/I/D^2QYGQN\\)A,>5)2GGG;+4KC63Q(6YSG%
M#FEFBUL[),YF1@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`&`,`8`P!@#`
5&`,`8`P!@#`&`,`8`P!@#`&`?__9
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
